BOK Financial : 2Q 2026 Investor Presentation

About this update from Bok Financial Corporation

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 increase d $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 Attention : This is an excerpt of the original content. 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