Bok Financial Corporation · NASDAQ:BOKF
Bok Financial — Q1 2025 Earnings Presentation
23 slides from Bok Financial's earnings presentation, Apr 22, 2025
Slide 1: Q1 Earnings Conference Call
Q1 Earnings Conference Call April 22, 2025
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, and the economy generally. Words such as “anticipates,” “beli
Slide 3: Stacy Kymes, Chief Executive Officer
Stacy Kymes Chief Executive Officer 3
Slide 4: Q1 Financial Highlights
Q1 Financial Highlights Net Income • Net Income was $119.8 million, or $1.86 per diluted share Attributable to shareholders Per share (diluted) • Net interest margin expanded 3 basis points with core net interest $163.7 margin excluding trading declining 4 basis points $140.0 $136.2 $119.8 • Asset q
Slide 5: Additional Details
Additional Details Quarterly Quarterly ◦ Period end loan balances decreased ($Billion) Q1 2025 $424 million, primarily due to reduced Sequential YOY energy loan balances. Average loan Period End Loans $23.7 (1.8)% (2.0)% balances grew $44 million with higher CRE and loans to individuals, partially A
Slide 6: Loan Portfolio
Loan Portfolio Seq. Loan YOY Loan ($Million) Mar. 31, 2025 Dec. 31, 2024 Mar. 31, 2024 Growth Growth • Combined Services & General Energy $ 2,860.3 $ 3,254.7 $ 3,443.7 (12.1)% (16.9)% Business (Core C&I) balances decreased $54 million or 0.7% Services 3,704.8 3,643.2 3,529.4 1.7% 5.0% linked quarter
Slide 7: Credit Quality Metrics
Credit Quality Metrics Net Charge-Offs to Average Loans • Credit quality remains very strong with non-performing Annualized assets, excluding loans guaranteed by U.S. government 0.60% agencies, totaling $79 million or 0.33% of outstanding loans and repossessed assets 0.40% • Trailing 12 months net c
Slide 8: Scott Grauer, EVP, Wealth Management Executive
Scott Grauer EVP, Wealth Management Executive 8
Slide 9: Fee Income - Markets & Securities
Fee Income - Markets & Securities Trading Fees ($Million) Q1 2025 Qtr. Seq. Qtr. Seq. Qtr. YOY $ Change % Change % Change • Trading fee income declined $25.0 Trading Fees $ 8.1 $ (25.0) (75.5)% (78.4)% A million driven by lower trading Mortgage Banking 19.8 1.7 9.2% 4.5% volumes and tightened spread
Slide 10: Fee Income - Asset Management & Transactions
Fee Income - Asset Management & Transactions Fiduciary & Asset Management Qtr. Seq. Qtr. Seq. Qtr. YOY ($Million) Q1 2025 $ Change % Change % Change • Assets under management or Markets & Securities $ 50.9 $ (22.8) (30.9)% (34.9)% A administration (“AUMA”) decreased $659 million during the Fiduciary
Slide 11: Marty Grunst, EVP, Chief Financial Officer
Marty Grunst EVP, Chief Financial Officer 11
Slide 12: Yields, Rate & Margin
Yields, Rate & Margin Quarterly Quarterly ($Million) Q1 2025 Q4 2024 Q1 2024 Net Interest Income sequential YOY • Net interest income was up $3.2 million linked quarter, Net Interest Income $316.3 $313.0 $293.6 1.0% 7.7% driven by the continued upward repricing of fixed-rate securities and loans, as
Slide 13: Expenses
Expenses % Incr. % Incr. • Quarterly personnel expenses ($Million) Q1 2025 Q4 2024 Q1 2024 Seq. YOY increased $3.5 million, largely driven annual merit increases in the first quarter. Seasonally higher Personnel Expense $214.2 $210.7 $202.7 1.7% 5.7% payroll taxes were offset by lower incentive comp
Slide 14: 2025 Full Year Outlook
2025 Full Year Outlook Business Driver 2024 Actuals FY '25 As of 04/22/25* Notes Mid to upper single-digit Core C&I grew at an 8.1% rate in 2024. Fund up of CRE loans and EOP Loans $24.1 billion growth rate launch of Mortgage Finance expected in second half of the year. EOP Inv Securities $14.9 bill
Slide 15: Question & Answer Session
Question & Answer Session 15
Slide 16: Stacy Kymes, Chief Executive Officer
Stacy Kymes Chief Executive Officer 16
Slide 17: Appendix
Appendix 17
Slide 18: Credit Resilience
Credit Resilience Disciplined Credit Concentration 100 year history in energy lending and a tested playbook • 72% oil / 28% gas-weighted borrowers • CRE limit on total committed balances is 185% of tier • Robust stress testing process and 17 petroleum one capital plus reserves engineers on staff • O
Slide 19: Securities and Interest Rate Risk Position
Securities and Interest Rate Risk Position Securities Portfolio Interest Rate Risk • Short duration with limited extension, current portfolio duration • Approximately 74% of the total loan portfolio is variable rate or is 3.2 years, extending to only 3.8 years if rates increase 300 fixed rate that r
Slide 20: Liquidity & Capital
Liquidity & Capital Q1 2025 Q4 2024 Q1 2024 Liquidity Loan to Deposit Ratio 61.9% 63.1% 68.3% • Period end deposit balances increased $90 million this quarter Period-End Deposits $38.3 billion $38.2 billion $35.4 billion Available Secured Capacity $21.9 billion $22.9 billion $20.0 billion • Uninsure
Slide 21: Quarterly Financial Summary
Quarterly Financial Summary 21
Slide 22: Quarterly Financial Summary cont.
Quarterly Financial Summary cont. 22
Slide 23: BOK Financial Corporation
BOK FINANCIAL CORPORATION