Bok Financial CorporationNASDAQ: BOKF

2Q 2026 Investor Presentation

· Issued by Bok Financial Corporation
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Q2 Earnings Conference Call

July 21, 2026





Stacy Kymes

Chief Executive Officer

3



Q2 Financial Highlights

  • Net income was $176.5 million, or $2.92 per diluted share, compared to

    $155.8 million, or $2.58 per diluted share in the prior quarter. Excluding the net gain related to the exchange of Visa B shares and the loss from repositioning of the available-for-sale securities portfolio, net income would have been $156.5 million, or $2.59 per diluted share, in the second quarter of 2026*

  • Net interest margin increased 1 basis point to 2.91% and core net interest margin, excluding trading, declined 2 basis points to 3.13%*. Core margin was negatively impacted by 3 basis points related to cash margin posted for customer hedging activity for our energy customers

  • Period end loans grew $896 million, or 3.4% sequentially to $27.1 billion with

    Net Income



    Attributable to shareholders Per share (diluted)

    $155.8

    $140.0

    $140.9

    $2.22

    $2.19

    $2.58

    $2.92

    $2.89

    $177.3

    $176.5

    broad-based growth across our portfolio and footprint. Period end loans grew $2.8 billion, or 11.5%, compared to the second quarter of 2025

    2Q25 3Q25 4Q25 1Q26 2Q26

    Revenue Composition

  • Net charge-offs were $500 thousand during the quarter averaging 3 basis points over the last twelve months

    ($Million, exc. EPS)

    Q2 2026

    Q1 2026

    Q2 2025

    Net income

    $176.5

    $155.8

    $140.0

    Diluted EPS

    $2.92

    $2.58

    $2.19

    Net income before taxes

    $227.7

    $199.7

    $180.8

    Provision for credit losses

    $0.0

    $0.0

    $0.0

    Pre-provision net revenue*

    $227.7

    $199.7

    $180.7

    Efficiency ratio*

    60.2%

    63.2%

    65.4%

    Adjusted efficiency ratio*

    63.5%

    63.2%

    65.5%

    * Non-GAAP measure

  • Continued strong capital and liquidity position with TCE* at 9.6% and a loan to deposit ratio of 68%

    as of 6/30/2026

    13

    6

    3%

    2%

    64%

    Net Interest Income Trading & Brokerage

    Fiduciary & Asset Management Transaction Card

    6%

    %

    6%

    %

    Deposit Service Charges Mortgage Banking

    Other Revenue

    4

    Additional Details

    Q2 2026 Quarterly

    Quarterly

    Sequential

    YOY

    million, with broad-based growth across our

    portfolio and geographic footprint. Average

    • Period end loan balances increased $896

    ($Billion)

    Assets Under Management or $129.3 4.6% 9.7% Administration

    loan balances grew $844 million

    Period End Loans

    $27.1

    3.4%

    11.5%

    Average Loans

    $26.8

    3.3%

    10.7%

    Period End Deposits

    $39.9

    3.0%

    4.2%

    Average Deposits

    $39.2

    0.6%

    2.9%

    Fiduciary Assets

    $78.9

    6.2%

    11.1%

    Average deposits grew $250 million in Q2, led by growth in interest-bearing transaction accounts and time deposits

    The loan to deposit ratio was 68% at June 30, consistent with the prior quarter. This continues to be well below the pre-pandemic level of 79% at Dec. 31, 2019

    • Assets under management or administration increased $5.7 billion to

$129.3 billion, driven by higher market valuations and customer growth

5

Loan Portfolio

Energy

$ 3,052.7

$ 3,005.7

$ 2,734.7

1.6%

11.6%

Services

4,099.9

3,901.9

3,658.8

5.1%

12.1%

Healthcare

4,083.8

3,955.8

3,808.9

3.2%

7.2%

Mortgage Finance

451.8

228.2

-

98.0%

N/A

General Business

4,609.3

4,481.5

4,181.7

2.9%

10.2%

Total Commercial

$ 16,297.4

$ 15,573.1

$ 14,384.2

4.7%

13.3%

Multifamily

$ 2,570.2

$ 2,553.7

$ 2,473.4

0.6%

3.9%

Industrial

1,283.3

1,418.6

1,304.2

(9.5)%

(1.6)%

Office

852.7

821.6

690.1

3.8%

23.6%

Retail

670.9

614.0

592.0

9.3%

13.3%

Residential Construction and Land Development

111.7

109.5

105.7

2.0%

5.6%

Other Commercial Real Estate

396.5

367.3

356.0

7.9%

11.4%

  • Total Commercial loans grew $724 million or 4.7% sequentially, which included growth in every Commercial category

  • Combined Services & General Business (Core C&I) balances increased $326 million or 3.9% linked quarter

  • Energy balances increased $47 million or 1.6%

  • Healthcare balances increased $128 million or 3.2% linked quarter

  • Commercial Real Estate loan balances were relatively consistent with the prior quarter

    ($Million) June 30, 2026 Mar. 31, 2026 June 30, 2025 Seq. Loan Growth

    YOY Loan Growth

    Total Commercial Real Estate

    $ 5,885.3 $ 5,884.7 $ 5,521.4

    -%

    6.6%

    Loans to individuals

    $ 4,900.9 $ 4,729.6 $ 4,386.6

    3.6%

    11.7%

    Total Loans

    $ 27,083.7 $ 26,187.4 $ 24,292.2

    3.4%

    11.5%

    6

    Credit Quality Metrics

    • Credit quality continues to be strong with nonperforming assets, excluding loans guaranteed by U.S. government agencies, totaling $55 million or 0.20% of outstanding loans and repossessed assets

    • Trailing 12 months net charge-offs at 3 bps with net charge-offs of $500 thousand during Q2

    • No provision for credit losses was necessary for the quarter as an improvement in economic forecast assumptions were offset by the impact of loan growth during the quarter

    • Combined allowance for credit losses of $323 million or 1.19% at quarter end

      Committed Criticized Assets / Tier 1 Capital & Reserves

      19.1%

      18.0%

      10.3%

      11.3%

      12.1%

      11.0%

      10.3%



      30.0%

      20.0%

      10.0%

      -%

      4Q18 4Q19 2Q25 3Q25 4Q25 1Q26 2Q26

      Net Charge-Offs to Average Loans

      Annualized

      0.06%

      0.03%

      0.01%

      0.02%

      0.01%



      0.20%

      0.10%

      0.00%

      2Q25 3Q25 4Q25 1Q26 2Q26

      NPA (ex Govt. Guaranteed) as % of Total Loans

      1.75%



      1.50%

      1.25%

      1.00%

      0.75%

      0.50%

      0.25%

      2Q26

      1Q26

      4Q25

      3Q25

      2Q25

      1Q25

      4Q24

      3Q24

      2Q24

      1Q24

      4Q23

      3Q23

      2Q23

      1Q23

      4Q22

      3Q22

      2Q22

      1Q22

      4Q21

      3Q21

      2Q21

      1Q21

      4Q20

      3Q20

      2Q20

      1Q20

      -%

      7

      Scott Grauer

      EVP, Wealth Management Executive

      8



      Fee Income - Markets & Securities

      Trading Fees

      • Total Trading revenue, which includes trading related net interest income, decreased $9.7 million to $25.0 million. Trading fee income decreased, reflecting reduced trading activity during the first two months of the quarter. However, this was partially offset by higher Trading NII

        Syndication Fees

      • Syndication fees increased $3.0 million, supported by robust syndication activity. This was a record second quarter for syndication revenue

        Mortgage Production Revenue

        ($Million) Q2 2026 Qtr. Seq.

        Trading Fees

        $ 6.7

        $ (12.7)

        (65.6)%

        (53.9)%

        Mortgage Servicing

        16.8

        (0.2)

        (1.3)%

        (2.7)%

        Mortgage Production

        2.2

        (1.8)

        (44.6)%

        27.4%

        Customer Hedging Fees

        6.7

        (1.1)

        (14.1)%

        (10.6)%

        Brokerage Fees

        5.7

        (0.6)

        (9.2)%

        12.1%

        Syndication Fees

        7.5

        3.0

        67.0%

        48.1%

        Investment Banking Fees

        5.9

        0.2

        3.4%

        (2.5)%

        Markets & Securities

        $ 51.5

        (13.0)

        (20.2)%

        (9.8)%

        $ Change

        Total Trading Revenue

        Qtr. Seq.

        % Change

        Qtr. YOY

        % Change

        A



      • Mortgage production revenue decreased

        $1.8 million driven by lower refinance activity

        ($Million) Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025

        B

        A

        Total Trading Revenue $ 25.0 $ 34.7 $ 34.1 $ 29.8 $ 30.5

A

Trading Fees $ 6.7 $ 19.3 $ 20.9 $ 15.5 $ 14.4



Trading NII 18.3 15.4 13.2 14.3 16.1

B



+

9

Fee Income - Asset Management & Transactions

  • Fiduciary and asset management revenue increased $4.5 million, producing record quarterly results.

    ($Million) Q2 2026 Qtr. Seq.

    1

    Markets & Securities $ 51.5 $ (13.0) (20.2)% (9.8)%

    $ Change

    Qtr. Seq.

    % Change

    Qtr. YOY

    % Change

    This reflects higher trust fees from customer growth and increased asset valuations, along with seasonal tax preparation fees

  • Assets under management or administration ("AUMA") increased $5.7 billion during the quarter driven by higher market valuations and continued customer expansion

  • Deposit service charges and fees increased $1.1 million during the quarter

    Fiduciary & Asset Management 71.0 4.5 6.8% 11.0%

    Transaction Card 31.6 (0.4) (1.2)% 6.9%

    Deposit Service Charges & Fees 33.3 1.1 3.4% 6.4%

    Other Revenue 14.6 0.1 0.6% (4.8)%

    2

    Asset Management & Transactions 150.5 5.3 3.7% 7.4%

    Total Fees & Commissions $ 202.0 $ (7.8) (3.7)% 2.4%

    2



    1



    +

    10

    Marty Grunst

    EVP, Chief Financial Officer

    11



    Yields, Rate & Margin

    Net Interest Income

    Yield on Loans 6.20% 6.25% 6.71% (5) bps (51) bps

  • Net interest income grew $9.3 million linked quarter while core net interest income, excluding trading, increased $6.5 million*

    Net Interest Income $351.8 $342.6 $328.2 2.7% 7.2%

($Million) Q2 2026 Q1 2026 Q2 2025 Quarterly Sequential

Quarterly YOY

Net Interest Margin

  • 1 basis point NIM increase with core net interest margin,

Net Interest Margin 2.91% 2.90% 2.80% 1 bps 11 bps

excluding trading,* declining 2 basis points. Core margin was negatively impacted by 3 basis points related to cash margin posted for customer hedging activity for our energy customers

Net Interest Margin

3.12%



3.16%



3.22%

3.15%



3.13%



2.80%



2.91%

2.98%



2.90%



2.91%

4.00%



3.50%

3.00%

2.50%

Tax-equivalent Yield on Earning Assets

Cost of Interest-bearing

Deposits

2.67%

2.71%

3.17%

(4) bps

(50) bps

Rate on Interest-bearing Liabilities

Net Interest Income

($Million)

$16.1

$14.3

$13.2

$15.4

$18.3

$312.0

$323.3

$332.1

$327.2

$333.5

$400

$300

$200

$100

5.27% 5.23% 5.47% 4 bps (20) bps

2.93% 2.92% 3.40% 1 bps (47) bps

2Q25 3Q25 4Q25 1Q26 2Q26

Reported NIM NIM excl. Trading*

* Non-GAAP measure

$0

2Q25 3Q25 4Q25 1Q26 2Q26

NII excl. Trading* Trading NII

12

($Million)

Q2 2026

Q1 2026

Q2 2025

Quarterly

Sequential

Quarterly

YOY

Total Personnel Expense

$214.1

$211.2

$214.7

1.4%

(0.3)%

Memo: Deferred compensation**

9.1

0.2

3.3

N/A

N/A

Total Personnel Expense

(Excluding Deferred Compensation)

$205.0

$211.0

$211.4

(2.8)%

(3.0)%

Non-Personnel Expense

$147.6

$143.0

$139.8

3.2%

5.6%

Total Operating Expense

$361.7

$354.2

$354.5

2.1%

2.0%

Efficiency Ratio*

60.2%

63.2%

65.4%

Adjusted Efficiency Ratio*

63.5%

63.2%

65.5%

Expenses

  • Personnel expenses increased

    $2.9 million. Deferred compensation costs, which are offset in Other gains and losses, increased $8.9 million. Excluding deferred compensation, personnel expenses decreased

    $6.0 million

  • Cash-based incentive compensation decreased $3.0 million, primarily related to lower trading activity during the quarter

  • Employee benefit costs decreased $1.8 million. Seasonal decreases in payroll taxes were partially offset by higher employee healthcare costs

**Other gains and losses, net includes deferred compensation gains of $8.8 million in Q2 2026, losses of $1.8 million in Q1 2026, and gains of $3.4 million in Q2 2025.

* Non-GAAP measure 13

2026 Full Year Outlook

Business Driver

2025 Actuals

FY '26 As of 07/21/26*

Notes

EOP Loans

$25.7 billion

Over 10%

Pipelines remain consistent with the first half of the year

EOP Inv Securities

$15.4 billion

Flat

Net Interest Income

$1.3 billion

$1.42 to $1.45 billion

Assumes no changes to the Fed Funds rate through year-end

2026. Longer-term rate assumptions are consistent with market-implied forward rates.

Fees & Commissions

$801 million

$820 to $845 million

Reflects mid-single-digit fee growth excluding trading

Total Revenue

$2.2 billion

Mid single-digit growth

rate

Likely toward the upper end of the range

Expenses

$1.4 billion

Low single-digit growth

Likely toward the lower end of the range

Efficiency Ratio**

65.1%

~62%

Adjusted to exclude Visa Class B gain, the efficiency ratio would be

~63%

Provision Expense

$2 million

Below $20 million

Although credit metrics are expected to normalize over time, current trends continue to perform better than historical norms

Bold represents changes compared to the prior quarter.

*Refer to Slide #2 regarding forward looking statements, expectations above assume no change to economic environment.

**Non-GAAP measure. Refer to Form-10K furnished on February 18, 2026. 14

Question & Answer Session

15



Stacy Kymes

Chief Executive Officer

16



Appendix

17



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

    100 year history in energy lending and a tested playbook

  • 72% oil / 28% gas-weighted borrowers

  • Robust stress testing process with 18 petroleum engineers and analysts on staff



* '26 YTD has been annualized for comparability with prior periods.

18

Securities and Interest Rate Risk Position Securities Portfolio

  • Short duration with limited extension, current portfolio duration is 3.1 years, extending to only 3.7 years if rates increase 200 bps

  • RMBS portfolio is all "AAA" rated with average credit enhancement of ~18%

  • Portfolio runoff for Q2 2026 was $826 million

    BOKF Securities by Guarantee Type 06/30/2026

    Interest Rate Risk

  • Approximately 76% of the total loan portfolio is variable rate or fixed rate that reprice within a year

  • Approximately 84% of Commercial and Commercial Real Estate portfolios are variable rate or fixed rate that reprice within a year

  • Sensitivity to betas - The impact of decreasing our deposit beta by 10% in a down -100 interest rate scenario is 0.22% on NII

Scenario

Δ NII %

Δ NII $

Down 200 Ramp, year 1

1.97%

$29.6 million

Down 100 Ramp, year 1

0.85%

$12.7 million

Up 100 Ramp, year 1

(0.91)%

$(13.7) million

Up 200 Ramp, year 1

(2.06)%

$(30.9) million

1% 94%

5%

Govt/GSE Guaranteed RMBS Muni

19

Quarterly Financial Summary

20

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