Bok Financial Corporation · NASDAQ:BOKF
Bok Financial — Q4 2022 Earnings Presentation
19 slides from Bok Financial's earnings presentation, Jan 25, 2023
Slide 1: Q4 Earnings Conference Call
Q4 Earnings Conference Call January 25, 2023
Slide 2: Legal Disclaimers
Legal Disclaimers This presentation contains forward-looking statements that are based on management's beliefs, assumptions, current expectations, estimates and projections about BOK Financial Corporation, the financial services industry, the economy generally and the expected or potential impact of
Slide 3: Stacy Kymes, Chief Executive Officer
Stacy Kymes Chief Executive Officer 3
Slide 4: Q4 summary
Q4 summary Net Income - Yearly Net Income - Quarterly Attributable to shareholders ($Million) Per share (diluted) Attributable to shareholders ($Million) Per share (diluted) Noteworthy items impacting FY 2022 profitability Noteworthy items impacting Q4 2022 profitability • Strong growth in net inter
Slide 5: Additional details
Additional details ($Billion) Q4 2022 Quarterly Quarterly ◦ Core loan balances grew $773 million; Sequential YOY unfunded commitments grew $839 Period-End Loans* $22.5 3.5% 13.1% million ◦ Average deposits declined $1.6 billion Average Loans* $22.0 1.8% 10.7% in Q4 as customers continue to redeploy
Slide 6: Marc Maun, EVP, Regional Banking Executive
Marc Maun EVP, Regional Banking Executive 6
Slide 7: Loan portfolio
Loan portfolio Dec. 31, Sep. 30, Dec. 31, Seq. Loan YOY Loan ($Million) 2022 2022 2021 Growth Growth • Energy balances were up slightly with unfunded commitments up 9.6% Energy $3,424.8 $3,371.6 $3,006.9 1.6% 13.9% • Strong linked-quarter growth in Services 3,431.5 3,280.9 3,367.2 4.6% 1.9% Services
Slide 8: Key credit quality metrics
Key credit quality metrics Quality metrics summary Net charge-offs to average loans ANNUALIZED • Total non-accrual loans decreased $9.0 million; primarily due to service, energy, and loans to individuals, partially offset by an increase in commercial real estate • Potential problem loans (substandar
Slide 9: Scott Grauer, EVP, Wealth Management Executive
Scott Grauer EVP, Wealth Management Executive 9
Slide 10: Fees & commissions
Fees & commissions Brokerage & trading • Linked quarter increase due to sustained elevated Qtr. Seq. Qtr. Seq. Qtr. YOY margins on Trading activities, offset by derivative ($Million) Q4 2022 $ Change % Change % Change and financial advisory fees coming off strong levels in the prior quarter Trading
Slide 11: Steven Nell, EVP, Chief Financial Officer
Steven Nell EVP, Chief Financial Officer 11
Slide 12: Yields, rate & margin
Yields, rate & margin Quarterly Quarterly Net interest revenue ($Million) Q4 2022 Q3 2022 Q4 2021 sequential YOY • Net interest revenue up $36.3 million linked quarter; increase Net interest revenue $352.6 $316.3 $277.1 11.5% 27.3% in short-term rates repriced loans - interest income +$88.5 Net inte
Slide 13: Liquidity & capital
Liquidity & capital Q4 2022 Q3 2022 Q4 2021 • Period-end deposit balances were down $1.9 Loan to Deposit Ratio 65.4% 59.8% 49.0% billion this quarter as customers continue to redeploy resources from the height of the pandemic Period-End Deposits $34.5 billion $36.4 billion $41.2 billion • $7.6 billi
Slide 14: Expenses
Expenses Expenses summary % Incr. % Incr. ($Million) Q4 2022 Q3 2022 Q4 2021 Seq. YOY • Total operating expenses increased 6.3% year-over-year Personnel expense $186.4 $170.3 $174.5 9.4% 6.8% • Quarterly personnel expenses increased 9.4%, driven primarily by incentive compensation related to Other o
Slide 15: Marty Grunst, EVP, Chief Risk Officer
Marty Grunst EVP, Chief Risk Officer 15
Slide 16: Forecast & assumptions
Forecast & assumptions ◦ We expect mid to to upper single digit annualized loan growth. Economic conditions in our geographic footprint remain very strong, and continue to be supported by business in-migration from other markets. Strong growth in unfunded commitments throughout 2022 and current low
Slide 17: Stacy Kymes, Chief Executive Officer
Stacy Kymes Chief Executive Officer 17
Slide 18: Question and Answer Session
Question and Answer Session 18
Slide 19: BOK Financial Corporation
BOK FINANCIAL CORPORATION