Bok Financial Corporation · NASDAQ:BOKF
Bok Financial — Q1 2022 Earnings Presentation
19 slides from Bok Financial's earnings presentation, Apr 27, 2022
Slide 1: Q1 Earnings Conference Call
Q1 Earnings Conference Call April 27, 2022
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: Q1 summary
Q1 summary Noteworthy items impacting profitability First quarter net income • Loan growth accelerated from the momentum seen last NET INCOME quarter Attributable to shareholders • Upward movement in interest rates and geopolitical uncertainty negatively impacted our fee generating Per share (dilute
Slide 5: Additional details
Additional details Quarterly Quarterly ($Billion) Q1 2022 Sequential YOY ◦ Core loan balances grew $608 million, Period-End Loans $20.7 2.3% (8.3)% partially offset with $139 million of PPP forgiveness Average Loans $20.5 1.1% (10.1)% ◦ Average deposits continue to grow, Period-End Deposits $39.4 (4
Slide 6: Marc Maun, EVP, Regional Banking Executive
Marc Maun EVP, Regional Banking Executive 6
Slide 7: Loan portfolio
Loan portfolio Mar 31, Dec 31, Mar 31, Seq. Loan YOY Loan ($Million) 2022 2021 2021 Growth Growth • Energy balances continued to increase with a growth rate similar Energy $3,197.7 $3,006.9 $3,202.5 6.3% (0.2)% to that seen in Q4 Services 3,351.5 3,367.2 3,421.9 (0.5)% (2.1)% • Slight decrease in Se
Slide 8: Key credit quality metrics
Key credit quality metrics Quality metrics summary Net charge-offs to average loans ANNUALIZED • Total non-accrual loans down $9.8 million • A decrease of $6.1 million in Energy non-accruals • Potential problem loans (substandard, accruing) totaled $169 million at 3/31, compared to $222 million at 1
Slide 9: Scott Grauer, EVP, Wealth Management Executive
Scott Grauer EVP, Wealth Management Executive 9
Slide 10: Fees & commissions
Fees & commissions Brokerage & trading • Revenue decreased linked-quarter due to recognized losses on Trading Securities as a Quarterly Quarterly Trailing ($Million) Q1 2022 result of movements in fixed income markets and sequential YOY 12 months geopolitical uncertainties Brokerage & trading $(27.1
Slide 11: Steven Nell, EVP, Chief Financial Officer
Steven Nell EVP, Chief Financial Officer 11
Slide 12: Yields, rate & margin
Yields, rate & margin Net interest revenue ($Million) Q1 2022 Q4 2021 Q1 2021 Quarterly Quarterly sequential YOY • Net interest revenue down $8.7 million linked quarter; Net interest revenue $268.4 $277.1 $280.4 (3.1)% (4.3)% $8.9 million from decreased loan fees, including a $3.8 Net interest margi
Slide 13: Asset sensitivity
Asset sensitivity Scenario* ∆ NIR % ∆ NIR $ Noteworthy balance sheet items • We anticipate holding the available-for-sale securities portfolio flat by Up 200 Ramp, months 1-12 7.53% $85.6 million reinvesting cash flows at current market rates, maintaining our asset- sensitive position Up 200 Ramp, m
Slide 14: Liquidity & capital
Liquidity & capital Q1 2022 Q4 2021 Q1 2021 • Deposit growth continues to be strong Loan to Deposit Ratio 52.4% 49.0% 59.5% • Nearly $13 billion of secured wholesale borrowing capacity Period End Deposits $39.4 billion $41.2 billion $37.9 billion Available secured wholesale • Robust capital ratios c
Slide 15: Expenses
Expenses Expenses summary % Incr. % Incr. • Quarterly personnel expense down ($Million) Q1 2022 Q4 2021 Q1 2021 Seq. YOY due to an $11.2 million decrease in cash based incentive Personnel expense $159.2 $174.5 $173.0 (8.7)% (8.0)% compensation, with additional decreases in deferred compensation and
Slide 16: Forecast & assumptions
Forecast & assumptions ◦ We expect loan growth to continue the solid performance seen in Q1, with period-end point-to-point growth for the year in the upper single- digit range. We anticipate growth contributions from all of our regional markets and continued growth in our Wealth loan portfolio. ◦ W
Slide 17: Stacy Kymes, Chief Executive Officer
Stacy Kymes Chief Executive Officer 17
Slide 18: Question & Answer Session
Question & Answer Session 18
Slide 19: BOK Financial Corporation
BOK FINANCIAL CORPORATION