Bok Financial Corporation · NASDAQ:BOKF
Bok Financial — Q1 2021 Earnings Presentation
16 slides from Bok Financial's earnings presentation, Apr 21, 2021
Slide 1: First Quarter 2021 Earnings Conference Call
BOK Financial Corporation First Quarter 2021 Earnings Conference Call April 21, 2021
Slide 2: Legal Disclaimers
Legal Disclaimers Forward-Looking Statements: 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 exp
Slide 3: Steven G. Bradshaw, Chief Executive Officer
Steven G. Bradshaw Chief Executive Officer 3
Slide 4: First Quarter Summary
First Quarter Summary Net Income $154.0 $154.2 $146.1 ($mil, exc. EPS) Q1 2021 Q4 2020 Q1 2020 Net Income $146.1 $154.2 $62.1 Diluted EPS $2.10 $2.21 $0.88 $2.19 $2.21 $2.10 $64.7 Net income before taxes $186.7 $199.8 $79.3 $62.1 $0.88 $0.92 Provision for credit losses ($25.0) ($6.5) $93.8 Pre-provi
Slide 5: Additional Details
Additional Details Quarterly Year over Year ($bil) Q1 2021 Growth Growth Period-End Loans $22.5 (2.1)% 0.3% Average Loans $22.8 (2.9)% 3.7% Period-End Deposits $37.9 4.7% 29.4% Average Deposits $36.5 2.8% 29.5% Fiduciary Assets $56.2 1.3% 28.7% Assets Under Management or in Custody $92.0 0.4% 21.3%
Slide 6: Stacy Kymes, Chief Operating Officer
Stacy Kymes Chief Operating Officer 6
Slide 7: Loan Portfolio
Loan Portfolio Seq. Mar 31, Dec 31, Mar 31, Loan YOY Loan ($mil) 2021 2020 2020 Growth Growth Energy $3,202.5 $3,469.2 $4,111.7 (7.7)% (22.1)% Services 3,421.9 3,508.6 3,955.7 (2.5)% (13.5)% Healthcare 3,290.8 3,306.0 3,165.1 (0.5)% 4.0% General business 2,742.6 2,793.8 3,563.5 (1.8)% (23.0)% Total
Slide 8: Key Credit Quality Metrics
Key Credit Quality Metrics Non-accruals (mil) Net charge-offs (annualized) to average loans $255.4 0.60% $234.7 $221.2 $216.0 $163.2 0.40% 0.37% 0.31% 0.28% 0.25% 0.23% 0.20% 0.00% 1Q20 2Q20 3Q20 4Q20 1Q21 1Q20 2Q20 3Q20 4Q20 1Q21 Energy Healthcare CRE Residential and Other • Net charge-offs decreas
Slide 9: Fees and Commissions
Fees and Commissions Revenue ($mil) Growth: Quarterly, Quarterly, Year Trailing 12 Q1 2021 Sequential over Year Months Brokerage and Trading $20.8 (47.4)% (59.1)% (13.5)% Transaction Card 22.4 2.4% 2.5% 0.6% Fiduciary and Asset Management 41.3 (1.1)% (7.1)% (1.9)% Deposit Service Charges and Fees 24
Slide 10: Steven Nell, Chief Financial Officer
Steven Nell Chief Financial Officer 10
Slide 11: Net Interest Revenue and Margin
Net Interest Revenue and Margin ($mil) Q1 2021 Q4 2020 Q3 2020 Q2 2020 Q1 2020 Net interest revenue $280.4 $297.2 $271.8 $278.1 $261.4 Net interest margin 2.62% 2.72% 2.81% 2.83% 2.80% Yield on available for sale securities 1.84% 1.98% 2.11% 2.29% 2.48% Yield on loans 3.55% 3.68% 3.60% 3.63% 4.50% C
Slide 12: Expenses
Expenses %Incr. %Incr. ($mil) Q1 2021 Q4 2020 Q1 2020 Seq. YOY Personnel expense $173.0 $176.2 $156.2 (1.8)% 10.8% Other operating expense $109.6 $124.5 $112.4 (11.9)% (2.5)% Total operating expense $282.6 $300.7 $268.6 (6.0)% 5.2% Efficiency Ratio 63.32% 62.36% 58.62% • Quarterly personnel expense
Slide 13: Liquidity & Capital
Liquidity & Capital Q1 2021 Q4 2020 Q1 2020 Loan to Deposit Ratio 59.5% 63.7% 76.8% Period End Deposits $37.9 billion $36.1 billion $29.2 billion Available secured wholesale borrowing $12.8 billion $12.8 billion $12.8 billion capacity Common Equity Tier 1 12.1% 12.0% 11.0% Total Capital Ratio 14.0%
Slide 14: Forecast and Assumptions
Forecast and Assumptions • Loan growth will slowly accelerate in tandem with the broader economic recovery this year, excluding the impact of PPP • Available-for-sale security portfolio yield expected to decrease as prepayments force reinvestment at lower rates • Interest-bearing deposit costs neari
Slide 15: Steven G. Bradshaw, Chief Executive Officer
Steven G. Bradshaw Chief Executive Officer 15
Slide 16: Question and Answer Session
Question and Answer Session 16