Bok Financial Corporation · NASDAQ:BOKF
Bok Financial — Q2 2019 Earnings Presentation
15 slides from Bok Financial's earnings presentation, Jul 24, 2019
Slide 1: Second Quarter 2019 Earnings Conference Call
Second Quarter 2019 Earnings Conference Call July 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: Second Quarter Summary
Second Quarter Summary Net Income $137.6 $137.6 $117.3 $114.4 $110.6 Q2 2019 Q1 2019 Q2 2018 $108.5 $1.93 $1.79 Diluted EPS $1.93 $1.54 $1.75 $1.75 $1.50 $1.54 Net income before taxes $175.4 $140.2 $148.5 Net income attributable to BOKF shareholders $137.6 $110.6 $114.4 2Q18 3Q18 4Q18 1Q19 2Q19 Net
Slide 5: Additional Details
Additional Details Quarterly Year over $billions Q2 2019 Growth Year Growth Period-End Loans $22.3 2.3% 23.6% Average Loans $22.0 1.1% 24.0% Period-End Deposits $25.3 (0.1)% 14.1% Average Deposits $25.2 2.2% 14.1% Fiduciary Assets $49.3 6.2% 5.9% Assets Under Management or in Custody $81.8 3.7% 3.7%
Slide 6: Steven Nell, Chief Financial Officer
Steven Nell Chief Financial Officer 6
Slide 7: Net Interest Revenue and Margin
Net Interest Revenue and Margin ($millions) Q2 2019 Q1 2019 Q4 2018 Q3 2018 Q2 2018 Net interest revenue $285.4 $278.1 $285.7 $240.9 $238.6 Provision for credit losses $5.0 $8.0 $9.0 $4.0 $— NIR after provision $280.4 $270.1 $276.7 $236.9 $238.6 Net interest margin 3.30% 3.30% 3.40% 3.21% 3.17% • Ne
Slide 8: Fees and Commissions
Fees and Commissions Revenue, $mil Growth: Quarterly, Quarterly, Year Trailing 12 Q2 2019 Sequential over Year Months Brokerage and Trading $40.5 28.2% 53.0% 12.8% Transaction Card 21.9 5.7% 4.5% 1.1% Fiduciary and Asset Management 45.0 3.8% 8.0% 1.8% Deposit Service Charges and Fees 28.1 (0.6)% 0.9
Slide 9: Expenses
Expenses %Incr. %Incr. ($mil) Q2 2019 Q1 2019 Q2 2018 Seq. YOY Personnel expense $160.3 $169.2 $138.9 (5.3)% 15.4% Other operating expense $116.8 $117.9 $107.5 (1.0)% 8.6% Total operating expense $277.1 $287.2 $246.5 (3.5)% 12.4% Efficiency Ratio 59.51% 64.80% 61.77% • Excluding CoBiz integration co
Slide 10: Forecast and Assumptions
Forecast and Assumptions • Mid single digit loan growth with continued strength in Energy, Healthcare and General C&I. • Provision levels moving forward will be influenced by loan growth, but are expected to be at similar dollar levels to the past couple of quarters. • Interest rate decreases foreca
Slide 11: Stacy Kymes, EVP-Corporate Banking
Stacy Kymes EVP-Corporate Banking 11
Slide 12: Loan Portfolio
Loan Portfolio ($mil) Seq. Jun 30, Mar 31, Loan 2019 2019 Growth Energy $3,921.4 $3,705.1 5.8% Services 3,309.5 3,287.6 0.7% Healthcare 2,926.5 2,915.9 0.4% Wholesale/retail 1,793.1 1,706.9 5.1% Manufacturing 761.4 742.4 2.6% Public Finance 795.7 803.1 (0.9)% Other 829.5 801.1 3.5% Total C&I $14,336
Slide 13: Key Credit Quality Metrics
Key Credit Quality Metrics • No material signs of stress in any loan portfolio. • Nonaccrual loans up $31 million sequentially. • Appropriately reserved with a combined allowance of 0.92 percent with CoBiz portfolio included. • Net charge-offs were 0.14 percent of average loans, the lowest level we’
Slide 14: Steven G. Bradshaw, Chief Executive Officer
Steven G. Bradshaw Chief Executive Officer 14
Slide 15: Question and Answer Session
Question and Answer Session 15