Bok Financial Corporation · NASDAQ:BOKF

Bok Financial — Q4 2022 Earnings Presentation

19 slides from Bok Financial's earnings presentation, Jan 25, 2023

  1. Slide 1: Q4 Earnings Conference Call

    Q4 Earnings Conference Call January 25, 2023

  2. 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

  3. Slide 3: Stacy Kymes, Chief Executive Officer

    Stacy Kymes Chief Executive Officer 3

  4. 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

  5. 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

  6. Slide 6: Marc Maun, EVP, Regional Banking Executive

    Marc Maun EVP, Regional Banking Executive 6

  7. 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

  8. 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

  9. Slide 9: Scott Grauer, EVP, Wealth Management Executive

    Scott Grauer EVP, Wealth Management Executive 9

  10. 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

  11. Slide 11: Steven Nell, EVP, Chief Financial Officer

    Steven Nell EVP, Chief Financial Officer 11

  12. 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

  13. 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

  14. 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

  15. Slide 15: Marty Grunst, EVP, Chief Risk Officer

    Marty Grunst EVP, Chief Risk Officer 15

  16. 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

  17. Slide 17: Stacy Kymes, Chief Executive Officer

    Stacy Kymes Chief Executive Officer 17

  18. Slide 18: Question and Answer Session

    Question and Answer Session 18

  19. Slide 19: BOK Financial Corporation

    BOK FINANCIAL CORPORATION

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