Bok Financial Corporation · NASDAQ:BOKF
Bok Financial — Q1 2019 Earnings Presentation
16 slides from Bok Financial's earnings presentation, Apr 24, 2019
Slide 1: First Quarter 2019 Earnings Conference Call
First Quarter 2019 Earnings Conference Call April 24, 2019 1
Slide 2: Legal Disclaimers
Legal Disclaimers Forward-Looking Statements: This presentation contains statements that are based on management’s beliefs, assumptions, current expectations, estimates, and projections about BOK Financial Corporation, the financial services industry, and the economy generally. These remarks constit
Slide 3: Steven G. Bradshaw, Chief Executive Officer
Steven G. Bradshaw Chief Executive Officer 3
Slide 4: First Quarter Summary
First Quarter Summary: Q1 2019 Q4 2018 Q1 2018 Diluted EPS $1.54 $1.50 $1.61 Net income before taxes $140.2 $128.5 $136.3 Net income attributable to BOKF shareholders $110.6 $108.5 $105.6 Noteworthy items impacting first quarter profitability: • CoBiz integration expense of $12.7 million realized th
Slide 5: Additional Details
Additional Details Quarterly Year over $billions Q1 2019 Growth Year Growth Period-End Loans $21.8 0.5% 25.5% Average Loans $21.8 0.9% 26.1% Period-End Deposits $25.3 0.3% 14.1% Average Deposits $24.6 (1.9)% 11.2% Fiduciary Assets $46.4 3.5% (0.5)% Assets Under Management or in Custody $78.9 3.4% 0.
Slide 6: Steven Nell, Chief Financial Officer: Financial Overview
Steven Nell Chief Financial Officer Financial Overview 6
Slide 7: Net Interest Revenue and Margin
Net Interest Revenue and Margin ($millions) Q1 2019 Q4 2018 Q3 2018 Q2 2018 Q1 2018 Net interest revenue $278.1 $285.7 $240.9 $238.6 $219.7 Provision for credit losses $8.0 $9.0 $4.0 $— $(5.0) NIR after provision $270.1 $276.7 $236.9 $238.6 $224.7 Net interest margin 3.30% 3.40% 3.21% 3.17% 2.99% •
Slide 8: Fees and Commissions
Fees and Commissions Revenue, $mil Growth: Quarterly, Quarterly, Year Trailing 12 Q1 2019 Sequential over Year Months Brokerage and Trading $31.6 12.5% 3.2% 0.9% Transaction Card 20.7 0.4% (1.2)% (0.3)% Fiduciary and Asset Management 43.4 (0.7)% 3.6% 0.8% Deposit Service Charges and Fees 28.2 (3.9)%
Slide 9: Expenses
Expenses %Incr. %Incr. ($mil) Q1 2019 Q4 2018 Q1 2018 Seq. YOY Personnel expense $169.2 $160.7 $139.9 5.3% 20.9% Other operating expense $117.9 $123.9 $104.5 (4.8)% 12.9% Total operating expense $287.2 $284.6 $244.4 0.9% 17.5% Efficiency Ratio* 61.93% 60.02% 64.94% • CoBiz integration expense totale
Slide 10: Forecast and Assumptions
Forecast and Assumptions • Mid single digit loan growth for the consolidated BOKF and COBZ entity. • Provision levels moving forward will be influenced by loan growth, but are expected to be at similar dollar levels to the past couple of quarters. • We now expect no rate hikes in 2019, providing lit
Slide 11: Stacy Kymes, EVP-Corporate Banking
Stacy Kymes EVP-Corporate Banking 11
Slide 12: Loan Portfolio
Loan Portfolio Seq. Mar 31, Dec 31, Loan ($mil) 2019 2018 Growth Energy $3,705.1 $3,590.3 3.2% Services 3,287.6 3,258.2 0.9% Healthcare 2,915.9 2,799.3 4.2% Wholesale/retail 1,706.9 1,621.2 5.3% Manufacturing 742.4 730.5 1.6% Public Finance 803.1 804.6 (0.2)% Other 801.1 832.0 (3.7)% Total C&I $13,9
Slide 13: Marc Maun, EVP-Chief Credit Officer
Marc Maun EVP-Chief Credit Officer 13
Slide 14: Key Credit Quality Metrics
Key Credit Quality Metrics • No material signs of stress in any loan portfolio. • Nonaccrual loans down 6.5% sequentially. Appropriately reserved with a combined allowance of 0.95% with CoBiz portfolio included. • Net charge-offs were 0.19% of average loans over the last four quarters. 14
Slide 15: Closing Remarks
Steven G. Bradshaw Chief Executive Officer Closing Remarks 15
Slide 16: Question and Answer Session
Question and Answer Session 16