Bok Financial Corporation · NASDAQ:BOKF
Bok Financial — Q4 2024 Earnings Presentation
23 slides from Bok Financial's earnings presentation, Feb 10, 2025
Slide 1: February 2025 Investor Presentation
Pri m ar y & se co nd ar y br an d co lor s Data viz colors Data viz monochromatic February 2025 Investor Presentation
Slide 2: Forward-looking statements
Pri m ar y & se co nd ar y br an d co lor s Data viz colors Data viz monochromatic 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 indust
Slide 3: Corporate Snapshot
Pri m ar y & se co nd ar y br an d co lor s Data viz colors Data viz monochromatic NASDAQ: BOKF BROKER/DEALER & INDEPENDENT ADVISORY SERVICES CONSUMER, COMMERCIAL & MORTGAGE BANKING BOK Financial Corporation BOK Financial Asset Management BOK Private Wealth Cavanal Hill BOK Financial ® Bank of Texas
Slide 4: Core Strategy
Pri m ar y & se co nd ar y br an d co lor s Data viz colors Data viz monochromatic Core Strategy Build a bank with diverse revenues that can compete upstream and outperform peers across varying economic cycles. Long-term EPS Growth vs. KRX Median 4 "There is no principle more emphasized in our organ
Slide 5: Diversified Loan Portfolio
Pri m ar y & se co nd ar y br an d co lor s Data viz colors Data viz monochromatic Diversified Loan Portfolio Disciplined concentration management, diversified by sector & geography Loan Segmentation Collateral Location as of 12/31/2024 as of 12/31/2024 Commercial real estate Healthcare Loans to ind
Slide 6: Diversified Loan Portfolio: Portfolio Composition
Pri m ar y & se co nd ar y br an d co lor s Data viz colors Data viz monochromatic Diversified Loan Portfolio Portfolio Composition as of 12/31/2024 80% 12% 7% Oil & Gas Producers Oil & Gas Midstream Services 10% 9% 81% Hospital Medical Services Senior Housing 44% 22% 15% 10% 2% 7% Multifamily Indus
Slide 7: Strong Core Deposit Franchise
Pri m ar y & se co nd ar y br an d co lor s Data viz colors Data viz monochromatic Dec '21 Dec '22 Dec '23 Dec '24 $— $5,000 $10,000 $15,000 $20,000 $25,000 $30,000 $35,000 $40,000 $45,000 Strong Core Deposit Franchise Deposit Mix & Cost ($Millions) Deposit Mix by Geography 4% 52% 9% 5% 6% 24% Deman
Slide 8: Wealth Management
Pri m ar y & se co nd ar y br an d co lor s Data viz colors Data viz monochromatic Wealth Management Primary Lines of Business • Private Wealth / Asset Management - Banking and investment management, trust and estate administration, and Cavanal Hill family of funds • Institutional Wealth - Retiremen
Slide 9: Wealth Management Awards, Recognition, and Rankings
Pri m ar y & se co nd ar y br an d co lor s Data viz colors Data viz monochromatic Wealth Management Awards, Recognition, and Rankings • Retirement Plan Services recognized as a top five provider and recipient of six "Best in Class" awards in 2023 • Eighth largest corporate trustee bank by number of
Slide 10: Transaction Processing
Pri m ar y & se co nd ar y br an d co lor s Data viz colors Data viz monochromatic Transaction Processing CAGR: 4.5% CAGR: 4.7% Debit Processing & ATM Network • Operates nationally • More than 75% of clients are outside of Oklahoma • Clients: Banks, Credit Unions and C-store chains • 800+ million EF
Slide 11: Q4 Financial Highlights
Pri m ar y & se co nd ar y br an d co lor s Data viz colors Data viz monochromatic Q4 Financial Highlights * Non-GAAP measure Attributable to shareholders Per share (diluted) Net Income • Net Income was $136.2 million, or $2.12 per diluted share • Net interest margin expanded 7 basis points with cor
Slide 12: Additional Details
Pri m ar y & se co nd ar y br an d co lor s Data viz colors Data viz monochromatic Additional Details 12 ◦ Period end loan balances grew $130 million, with higher commercial balances and loans to individuals, partially offset by decreased CRE activity. Average loan balances declined $280 million wit
Slide 13: Credit Resilience
Pri m ar y & se co nd ar y br an d co lor s Data viz colors Data viz monochromatic Credit Resilience Disciplined Credit Concentration • CRE limit on total committed balances is 185% of tier one capital plus reserves • Office CRE outstandings only comprise 3% of total loans 13 100 year history in ene
Slide 14: Loan Portfolio
Pri m ar y & se co nd ar y br an d co lor s Data viz colors Data viz monochromatic Loan Portfolio • Combined Services & General Business (Core C&I) balances increased $206 million or 2.7% linked quarter and $584 million or 8.1% year over year • Energy balances increased $128 million reflecting fund
Slide 15: Credit Quality Metrics
Pri m ar y & se co nd ar y br an d co lor s Data viz colors Data viz monochromatic Credit Quality Metrics • Credit quality remains very strong with a 47.6% decline in non-performing assets during the quarter, excluding those guaranteed by U.S. government agencies, representing the lowest level in 20
Slide 16: Yields, Rate & Margin
Pri m ar y & se co nd ar y br an d co lor s Data viz colors Data viz monochromatic Yields, Rate & Margin Net Interest Income • Net interest income was up $4.9 million linked quarter driven by downward repricing of deposits while securities portfolio yields continued to re-price higher Net Interest M
Slide 17: Fee Income - Markets & Securities
Pri m ar y & se co nd ar y br an d co lor s Data viz colors Data viz monochromatic Fee Income - Markets & Securities Trading Fees • Increased 39.8% driven by higher MBS volumes and widened spreads as client demand returned to more normal levels Mortgage Banking • Revenue consistent with prior quarte
Slide 18: Fee Income - Asset Management & Transactions
Pri m ar y & se co nd ar y br an d co lor s Data viz colors Data viz monochromatic Fee Income - Asset Management & Transactions Fiduciary & Asset Management • Assets under management or administration (“AUMA”) increased $3.9 billion during the quarter driven by increased market valuations and client
Slide 19: Expenses
Pri m ar y & se co nd ar y br an d co lor s Data viz colors Data viz monochromatic Expenses • Quarterly personnel expenses increased $3.9 million as normal levels of trading activity resumed and we continue to invest in our businesses • Non-personnel expense increased $2.8 million, largely due to pr
Slide 20: 2025 Full Year Outlook
Pri m ar y & se co nd ar y br an d co lor s Data viz colors Data viz monochromatic 2025 Full Year Outlook 20 *Refer to Slide #2 regarding forward looking statements, expectations above assume no change to economic environment. **Non-GAAP measure Business Driver 2024 Actuals FY '25 As of 01/21/25* No
Slide 21: Securities and Interest Rate Risk Position
Pri m ar y & se co nd ar y br an d co lor s Data viz colors Data viz monochromatic Securities and Interest Rate Risk Position Interest Rate Risk • Approximately 74% of the total loan portfolio is variable rate or fixed rate that reprice within a year • Approximately 82% of Commercial and Commercial
Slide 22: Liquidity & Capital
Pri m ar y & se co nd ar y br an d co lor s Data viz colors Data viz monochromatic Liquidity & Capital * Non-GAAP measure ** Uninsured and non-collateralized deposits excludes intra-bank deposits Liquidity • Period end deposit balances increased $964 million this quarter • Uninsured and non-collater
Slide 23: ar y br an
Pri m ar y & se co nd ar y br an d co lor s Data viz colors Data viz monochromatic