BOK Financial 盘后发布 Q3 2026 财报：EPS $2.64、NIM 升至 3.00%、贷款同比增 11.5% 且信用优异，但费用收入下滑、存款回落、AFS 浮亏扩大至 6.5 亿美元，整体喜忧参半

----- bokf-20261019.htm -----
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM
8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
October 19, 2026
Commission File No.
001-37811
BOK FINANCIAL CORP
(Exact name of registrant as specified in its charter)
Oklahoma
73-1373454
(State or other jurisdiction
of Incorporation or Organization)
(IRS Employer
Identification No.)
Bank of Oklahoma Tower
Boston Avenue at Second Street
Tulsa,
Oklahoma
74172
(Address of Principal Executive Offices)
(Zip Code)
(
918
)
588-6000
(Registrant’s telephone number, including area code)
N/A
__________________________________________
(Former name or former address, if changes since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425).
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12).
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)).
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)).
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol
Name of each exchange on which registered
Common Stock, par value $0.00006 per share
BOKF
Nasdaq Stock Market
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
☐
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
¨
INFORMATION TO BE INCLUDED IN THE REPORT
ITEM 2.02. Results of Operations and Financial Condition.
On
October 19, 2026
, BOK Financial Corporation (“BOK Financial”) issued a press release announcing its financial results for the three and nine months ended September 30, 2026 (“Press Release”). The full text of the Press Release is attached as Exhibit 99.1(a) to this report and is incorporated herein by reference. On
October 19, 2026
, in connection with the issuance of the Press Release, BOK Financial released financial information related to the three and nine months ended September 30, 2026 (“Financial Information”), which includes certain historical financial information relating to BOK Financial. The Financial Information is attached as Exhibit 99.1(b) to this report and is incorporated herein by reference.
ITEM 7.01. Regulation FD Disclosure.
On
October 19, 2026
, in connection with the issuance of the Press Release, BOK Financial released financial information related to the three and nine months ended September 30, 2026 (“Financial Information”), which includes certain historical financial information relating to BOK Financial. The Financial Information is attached as Exhibit 99.2 to this report and is incorporated herein by reference.
ITEM 9.01. Financial Statements and Exhibits.
(d)    Exhibits
99.1
Text of Press Release, dated
October
19
, 2026, titled "BOK Financial Corporation reports quarterly earnings of $1
60
million, or $2.
64
per share, in the
third
quarter" and Financial Information for the Three and
Nine
Months Ended
September
30, 2026.
99.2
Earnings conference call presentation, dated
October
2
0
, 2026, titled “Q
3
Earnings Conference Call" for the Three and
Nine
Months Ended
Sep
tember
30, 2026.
104    Cover Page Interactive Data File (embedded within the Inline XBRL document).
Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
BOK FINANCIAL CORPORATION
By:
/s/ Martin E. Grunst
Martin E. Grunst
Executive Vice President
Chief Financial Officer
Date:
October 19, 2026

----- a20260930bokfearningscal.htm -----
EX-99.2
3
a20260930bokfearningscal.htm
EX-99.2
a20260930bokfearningscal
October 20, 2026 Q3 Earnings Conference Call
This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 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,” “believes,” “estimates,” “expects,” “forecasts,” “plans,” "outlook," “projects,” “will,” “intends,” "may," "could," "should," "would," "potential," "continue," "seek," "target," variations of such words and similar expressions are intended to identify such forward-looking statements. Management judgments relating to and discussion of the provision and allowance for credit losses, allowance for uncertain tax positions, accruals for loss contingencies and valuation of mortgage servicing rights involve judgments as to expected events and are inherently forward-looking statements. Assessments that acquisitions and growth endeavors will be profitable are statements of belief as to the outcome of future events based in part on information provided by others which BOK Financial has not independently verified and for which BOK Financial assumes no responsibility for the accuracy or completeness. These various forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties, and assumptions which are difficult to predict with regard to timing, extent, likelihood and degree of occurrence. All statements other than statements of historical fact are forward-looking statements. Therefore, actual results and outcomes may materially differ from what is expected, implied, or forecasted in such forward-looking statements. Internal and external factors that might cause such a difference include, but are not limited to changes in government, changes in governmental economic policy, including tariffs; changes in commodity prices; interest rates and interest rate relationships; inflation; demand for products and services; the degree of competition by traditional and nontraditional competitors; changes in banking regulations; tax laws; prices, levies and assessments; the impact of technological advances; trends in customer behavior as well as their ability to repay loans; credit quality deterioration; cybersecurity incidents and data breaches; operational failures or interruptions; liquidity risks; capital adequacy requirements; litigation and regulatory enforcement actions; and other risks detailed in BOK Financial Corporation's filings with the Securities and Exchange Commission. For a discussion of risk factors that may cause actual results to differ from expectations, please refer to BOK Financial Corporation’s most recent annual and quarterly reports. BOK Financial Corporation and its affiliates undertake no obligation to update, amend, or clarify forward-looking statements, whether as a result of new information, future events, or otherwise. Non-GAAP Financial Measures: This presentation may refer to non-GAAP financial measures. Additional information on these financial measures is available in BOK Financial’s Form 8-K filings furnished pursuant to Item 2.02, which can be accessed at bokf.com. All data is presented as of September 30, 2026 unless otherwise noted. Legal Disclaimers 2
Stacy Kymes Chief Executive Officer 3
Q3 Financial Highlights * Non-GAAP measure Attributable to shareholders Per share (diluted) Net Income • Net income was $159.9 million, or $2.64 per diluted share, compared to $176.5 million, or $2.92 per diluted share in the prior quarter. Prior quarter net income would have been $156.5 million, or $2.59 per diluted share, 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 interest margin increased 9 basis points to 3.00% and core net interest margin, excluding trading, expanded 8 basis points to 3.21%*. Core margin benefitted from loan growth and fixed-rate asset repricing • Period end loans grew $646 million, or 2.4% sequentially to $27.7 billion with broad-based growth across our portfolio and footprint. Period end loans grew $2.9 billion, or 11.5%, compared to the third quarter of 2025 • Net charge-offs were $886 thousand during the quarter averaging 2 basis points over the last twelve months • Continued strong capital and liquidity position with TCE* at 9.2% and a loan to deposit ratio of 70% 4 ($Million, exc. EPS) Q3 2026 Q2 2026 Q3 2025 Net income $159.9 $176.5 $140.9 Diluted EPS $2.64 $2.92 $2.22 Net income before taxes $200.8 $227.7 $176.6 Provision for credit losses $0.0 $0.0 $2.0 Pre-provision net revenue* $200.8 $227.7 $178.6 Efficiency ratio* 63.5% 60.2% 66.7% Adjusted efficiency ratio* 63.5% 63.5% 66.9% Revenue Composition as of 9/30/2026 Net Interest Income Trading & Brokerage Fiduciary & Asset Management Transaction Card Deposit Service Charges Mortgage Banking Other Revenue
Additional Details 5 ◦ Period end loan balances increased $646 million, with broad-based growth across our portfolio and geographic footprint. Average loan balances grew $468 million ◦ Average deposits grew $304 million in Q3, with growth in interest-bearing transaction accounts, time deposits, and demand deposits ◦ The loan to deposit ratio was 70% at September 30, up from 68% in the prior quarter. This continues to be well below the pre-pandemic level of 79% at Dec. 31, 2019 ◦ Assets under management or administration were stable at $129.3 billion ($Billion) Q3 2026 Quarterly Sequential Quarterly YOY Period End Loans $27.7 2.4% 11.5% Average Loans $27.2 1.7% 9.7% Period End Deposits $39.5 (0.8)% 2.7% Average Deposits $39.5 0.8% 2.7% Fiduciary Assets $78.1 (1.0)% 5.8% Assets Under Management or Administration $129.3 0% 5.4%
Loan Portfolio • Total Commercial loans grew $358 million or 2.2% sequentially, led by growth in the energy and mortgage finance portfolios • Combined Services & General Business (Core C&I) balances increased $15 million or 0.2% linked quarter • Energy balances increased $264 million or 8.6% driven by both higher utilization across existing relationships and solid new production • Healthcare balances decreased $59 million or 1.4% linked quarter • Commercial Real Estate loans increased $248 million or 4.2% as commitments from the prior few quarters begin to fund 6 ($Million) Sep 30, 2026 June 30, 2026 Sep. 30, 2025 Seq. Loan Growth YOY Loan Growth Energy $ 3,316.6 $ 3,052.7 $ 2,681.5 8.6% 23.7% Services 4,071.3 4,099.9 3,710.6 (0.7)% 9.7% Healthcare 4,025.2 4,083.8 3,878.5 (1.4)% 3.8% Mortgage Finance 589.0 451.8 84.3 30.4% N/A General Business 4,653.2 4,609.3 4,158.0 1.0% 11.9% Total Commercial $ 16,655.2 $ 16,297.4 $ 14,512.9 2.2% 14.8% Multifamily $ 2,550.1 $ 2,570.2 $ 2,500.3 (0.8)% 2.0% Industrial 1,449.0 1,283.3 1,396.8 12.9% 3.7% Office 840.9 852.7 811.6 (1.4)% 3.6% Retail 706.8 670.9 593.8 5.3% 19.0% Residential Construction and Land Development 112.1 111.7 122.0 0.4% (8.1)% Other Commercial Real Estate 474.5 396.5 328.0 19.7% 44.7% Total Commercial Real Estate $ 6,133.3 $ 5,885.3 $ 5,752.6 4.2% 6.6% Loans to individuals $ 4,941.0 $ 4,900.9 $ 4,599.6 0.8% 7.4% Total Loans $ 27,729.5 $ 27,083.7 $ 24,865.2 2.4% 11.5%
Credit Quality Metrics • Credit quality continues to be strong with nonperforming assets, excluding loans guaranteed by U.S. government agencies, totaling $58 million or 0.21% of outstanding loans and repossessed assets • Trailing 12 months net charge-offs at 2 bps with net charge- offs of $886 thousand during Q3 • 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 $322 million or 1.16% at quarter end Net Charge-Offs to Average Loans NPA (ex Govt. Guaranteed) as % of Total Loans Annualized 7 Committed Criticized Assets / Tier 1 Capital & Reserves
Scott Grauer EVP, Wealth Management Executive 8
Fee Income - Markets & Securities Trading Fees • Total Trading revenue, which includes trading related net interest income, decreased $10.0 million to $15.0 million. Trading fee income decreased, reflecting reduced fixed-income trading activity due to a rise in longer-term rates. However, this was partially offset by higher Trading NII Investment Banking Fees • Investment Banking fees increased $4.3 million, largely driven by municipal bond underwriting activity Syndication Fees • Syndication fees decreased $3.4 million to more normal levels, following a very strong second quarter Mortgage Production Revenue • Mortgage production revenue decreased $2.1 million driven by lower production volumes and compressed margins 9 ($Million) Q3 2026 Qtr. Seq. $ Change Qtr. Seq. % Change Qtr. YOY % Change Trading Fees $ (6.3) $ (13.0) (194.8)% (140.7)% Mortgage Servicing 16.6 (0.2) (1.1)% (4.4)% Mortgage Production 0.1 (2.1) (94.5)% (95.0)% Customer Hedging Fees 5.8 (0.9) (14.0)% 0.9% Brokerage Fees 5.7 — 0.1% (3.1)% Syndication Fees 4.0 (3.4) (45.9)% (4.5)% Investment Banking Fees 10.2 4.3 73.6% (14.1)% Markets & Securities $ 36.2 (15.2) (29.6)% (42.6)% ($Million) Q3 2026 Q2 2026 Q1 2026 Q4 2025 Q3 2025 Trading Fees $ (6.3) $ 6.7 $ 19.3 $ 20.9 $ 15.5 Trading NII 21.3 18.3 15.4 13.2 14.3 Total Trading Revenue $ 15.0 $ 25.0 $ 34.7 $ 34.1 $ 29.8 A A Total Trading Revenue A + B B
Fee Income - Asset Management & Transactions • Fiduciary and asset management revenue decreased $1.1 million. The second quarter included seasonal tax preparation fees of approximately $1.7 million. Excluding these fees, core fiduciary and asset management revenue grew linked quarter • Assets under management or administration (“AUMA”) were stable during the quarter • Transaction card revenue contributed $32.2 million to revenue during the third quarter, representing record quarterly revenue for the business line 10 ($Million) Q3 2026 Qtr. Seq. $ Change Qtr. Seq. % Change Qtr. YOY % Change Markets & Securities $ 36.2 $ (15.2) (29.6)% (42.6)% Fiduciary & Asset Management 69.9 (1.1) (1.6)% 9.4% Transaction Card 32.2 0.6 1.9% 9.3% Deposit Service Charges & Fees 34.1 0.8 2.4% 7.0% Other Revenue 15.6 0.9 6.4% (3.9)% Asset Management & Transactions 151.8 1.2 0.8% 7.3% Total Fees & Commissions $ 188.0 $ (14.0) (6.9)% (8.1)% 2+1 1 2
Marty Grunst EVP, Chief Financial Officer 11
Yields, Rate & Margin Net Interest Income • Net interest income grew $18.1 million linked quarter while core net interest income, excluding trading, increased $15.1 million* Net Interest Margin • 9 basis point NIM increase with core net interest margin, excluding trading,* expanding 8 basis points. Core margin benefitted from loan growth and fixed-rate asset repricing 12 ($Million) Q3 2026 Q2 2026 Q3 2025 Quarterly Sequential Quarterly YOY Net Interest Income $370.0 $351.8 $337.6 5.2% 9.6% Net Interest Margin 3.00% 2.91% 2.91% 9 bps 9 bps Yield on Loans 6.24% 6.20% 6.70% 4 bps (46) bps Tax-equivalent Yield on Earning Assets 5.37% 5.27% 5.53% 10 bps (16) bps Cost of Interest-bearing Deposits 2.70% 2.67% 3.14% 3 bps (44) bps Rate on Interest- bearing Liabilities 2.96% 2.93% 3.33% 3 bps (37) bps Net Interest Income ($Million) Net Interest Margin * Non-GAAP measure
Expenses • Personnel expenses were relatively consistent with the prior quarter. Deferred compensation costs, which are offset in Other gains and losses, decreased $7.4 million. Excluding deferred compensation, personnel expenses increased $6.5 million • Regular compensation increased $3.2 million, largely reflecting strategic investments in talent for revenue producers • Cash-based incentive compensation increased $1.2 million, primarily related to higher loan production during the quarter • Employee benefit costs increased $1.1 million. Higher employee healthcare costs were partially offset by seasonal decreases in payroll taxes 13 ($Million) Q3 2026 Q2 2026 Q3 2025 Quarterly Sequential Quarterly YOY Total Personnel Expense $213.3 $214.1 $226.3 (0.4)% (5.8)% Memo: Deferred compensation** 1.7 9.1 5.8 N/A N/A Total Personnel Expense (Excluding Deferred Compensation) $211.5 $205.0 $220.5 3.2% (4.1)% Non-Personnel Expense $147.4 $147.6 $143.4 (0.1)% 2.8% Total Operating Expense $360.7 $361.7 $369.8 (0.3)% (2.5)% Efficiency Ratio* 63.5% 60.2% 66.7% Adjusted Efficiency Ratio* 63.5% 63.5% 66.9% * Non-GAAP measure **Other gains and losses, net includes deferred compensation gains of $1.8 million in Q3 2026, gains of $8.8 million in Q2 2026, and gains of $4.5 million in Q3 2025.
2026 Full Year Outlook 14 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. Business Driver 2025 Actuals FY '26 As of 10/20/26* Notes EOP Loans $25.7 billion Over 10% EOP Inv Securities $15.4 billion Flat Net Interest Income $1.3 billion $1.43 to $1.44 billion Reflects one Fed Funds increase through year-end 2026 and longer-term rates consistent with the current market-implied forward curve Fees & Commissions $801 million Over $800 million Reflects impact of the rate environment on our market-sensitive businesses Total Revenue $2.2 billion Mid single-digit growth rate Expenses $1.4 billion ~1% growth Efficiency Ratio** 65.1% ~62% Adjusted to exclude Visa Class B gain, the efficiency ratio guidance would be ~63% Provision Expense $2 million Below $10 million
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 18 100 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.
Securities and Interest Rate Risk Position Interest Rate Risk • Approximately 77% of the total loan portfolio is variable rate or fixed rate that reprice within a year • Approximately 85% 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 0.18% on NII 19 Scenario ∆ NII % ∆ NII $ Down 200 Ramp, year 1 1.80% $28.7 million Down 100 Ramp, year 1 0.76% $12.2 million Up 100 Ramp, year 1 (0.35)% $(5.7) million Up 200 Ramp, year 1 (1.80)% $(28.8) million Securities Portfolio • Short duration with limited extension, current portfolio duration is 3.4 years, extending to only 3.8 years if rates increase 200 bps • RMBS portfolio is all "AAA" rated with average credit enhancement of ~18% • Portfolio runoff for Q3 2026 was $770 million Govt/GSE Guaranteed RMBS Muni BOKF Securities by Guarantee Type 09/30/2026
Quarterly Financial Summary 20
Quarterly Financial Summary cont. 21

----- a20260930bokfex99.htm -----
EX-99.1
2
a20260930bokfex99.htm
EX-99.1
Document
BOK Financial Corporation reports quarterly earnings of $160 million, or $2.64 per share, in the third quarter.
Third quarter 2026 financial highlights
1
Net Income
Net income was $159.9 million, or $2.64 per diluted share, compared to $176.5 million, or $2.92 per diluted share. Prior quarter net income would have been $156.5 million, or $2.59 per diluted share, excluding the net gain related to the exchange of Visa B shares and the loss from repositioning of the available-for-sale securities portfolio.
2
Net Interest Income & Margin
Net interest income totaled $370.0 million, an increase of $18.1 million. Net interest margin was 3.00% for the third quarter compared to 2.91% in the prior quarter.
Fees & Commissions Revenue
Fees and commissions revenue was $188.0 million compared to $202.0 million in the prior quarter. Brokerage and trading revenue decreased $13.0 million due to an unfavorable rate environment and lower fixed-income trading volumes.
Operating Expense
Operating expense was largely consistent with the prior quarter at $360.7 million, as both personnel and non-personnel expense remained stable compared to the second quarter of 2026.
Loans
Period end loans were up $646 million over the prior quarter, to $27.7 billion, led by growth in energy loans, loans secured by industrial facilities, and mortgage finance loans. Average outstanding loan balances were $27.2 billion, an increase of $468 million.
Credit Quality
Nonperforming assets were $67 million, or 0.24% of outstanding loans and repossessed assets, at September 30, 2026, compared to $63 million, or 0.23%, at June 30, 2026. Net charge-offs for the third quarter were $886 thousand, or 0.01% of average loans on an annualized basis.
Deposits
Period end deposits decreased $324 million to $39.5 billion, and average deposits increased $304 million to $39.5 billion. Average interest-bearing deposits increased $278 million and average demand deposits increased by $26 million. The loan to deposit ratio was 70% at September 30, 2026, compared to 68% at June 30, 2026.
Capital
Tangible common equity ratio
2
was 9.16% compared to 9.61% at June 30, 2026. Common equity Tier 1 capital ratio was 12.73%, Tier 1 capital ratio was 12.73%, and total capital ratio was 14.43%.
p
$646 million
2 bps
$129.3 billion
LOAN GROWTH
NET CHARGE-OFFS (TTM)
AUMA
CEO Commentary
Stacy Kymes, President and CEO, stated, “We delivered another strong quarter, with $646 million of loan growth, 11.5% year-over-year loan growth, continued expansion in core net interest income, and peer-leading credit outcomes. Our disciplined approach to managing the balance sheet also helped us exit the quarter with top-quartile tangible common equity, despite a period of rapidly increasing interest rates.
These results are intentional, not accidental. They reflect decisions we have made consistently over many years around capital, liquidity, interest rate risk and credit. Higher rates created headwinds for mortgage banking and fixed-income trading this quarter, but we view those businesses through the cycle, where they provide an important source of diversification to our overall earnings profile.
We manage the company for the long term, not for any one quarter. That discipline, combined with the diversity of our franchise, positions us to deliver durable performance and continue serving our customers well across a wide range of operating environments."
1
Comparisons are to the prior quarter unless otherwise noted.
2
See Explanation and Reconciliation of Non-GAAP Measures - Unaudited section following.
BOK Financial Corporation quarterly earnings release
Exhibit 99.1(a)
Net Interest Income
(Dollars in thousands)
Sep. 30, 2026
June 30, 2026
Change
% Change
Tax-equivalent interest revenue
Interest-bearing cash and cash equivalents
$
4,903
$
5,011
$
(108)
(2.2)
%
Trading securities
76,118
70,590
5,528
7.8
%
Investment securities
5,139
5,770
(631)
(10.9)
%
Available-for-sale securities
143,898
135,676
8,222
6.1
%
Fair value option securities
280
849
(569)
(67.0)
%
Restricted equity securities
9,031
8,838
193
2.2
%
Residential mortgage loans held for sale
1,422
1,452
(30)
(2.1)
%
Loans
428,269
413,667
14,602
3.5
%
Total tax-equivalent interest revenue
$
669,060
$
641,853
$
27,207
4.2
%
Interest expense
Interest-bearing deposits:
Transaction
$
182,272
$
176,460
$
5,812
3.3
%
Savings
1,203
1,206
(3)
(0.2)
%
Time
33,368
32,443
925
2.9
%
Total interest-bearing deposits
216,843
210,109
6,734
3.2
%
Funds purchased and repurchase agreements
2,905
4,016
(1,111)
(27.7)
%
Other borrowings
70,452
66,982
3,470
5.2
%
Subordinated debentures
6,176
6,197
(21)
(0.3)
%
Total interest expense
296,376
287,304
9,072
3.2
%
Tax-equivalent net interest income
372,684
354,549
18,135
5.1
%
Less: Tax-equivalent adjustment
2,709
2,719
(10)
(0.4)
%
Net interest income
$
369,975
$
351,830
$
18,145
5.2
%
Net interest margin
3.00
%
2.91
%
0.09
%
N/A
Average earning assets
$
49,410,198
$
48,776,712
$
633,486
1.3
%
Average trading securities
5,908,204
5,876,732
31,472
0.5
%
Average investment securities
1,591,744
1,676,175
(84,431)
(5.0)
%
Average available-for-sale securities
13,854,420
13,554,693
299,727
2.2
%
Average fair value option securities
27,833
71,064
(43,231)
(60.8)
%
Average restricted equity securities
439,155
461,753
(22,598)
(4.9)
%
Average loans balance
27,237,703
26,769,638
468,065
1.7
%
Average interest-bearing deposits
31,825,110
31,547,501
277,609
0.9
%
Average funds purchased and repurchase agreements
375,717
520,881
(145,164)
(27.9)
%
Average other borrowings
7,163,522
6,922,451
241,071
3.5
%
Net interest income was $370.0 million for the third quarter of 2026, an increase of $18.1 million over the prior quarter. Net interest margin expanded to 3.00% from 2.91%. For the third quarter of 2026, our core net interest margin excluding trading activities
1
, a non-GAAP measure, increased 8 basis points to 3.21% compared to 3.13% in the prior quarter. Net interest income and margin benefited from loan growth and fixed-rate asset repricing.
Average earning assets increased $633 million. Average loan balances increased $468 million. Average available-for-sale securities grew $300 million and trading securities increased $31 million. Average interest-bearing deposits increased $278 million, primarily from growth in interest-bearing transaction accounts and time deposits. Average other borrowings increased $241 million, while average funds purchased and repurchase agreements decreased $145 million.
1
See Explanation and Reconciliation of Non-GAAP Measures - Unaudited section following
.
2
BOK Financial Corporation quarterly earnings release
Exhibit 99.1(a)
The yield on average earning assets was 5.37%, a 10 basis point increase over the prior quarter. The loan portfolio yield increased 4 basis points to 6.24%. The yield on trading securities increased 30 basis points to 5.15% and the yield on available-for-sale securities increased 13 basis points to 4.11%.
Funding costs were 2.96%, up 3 basis points. The cost of interest-bearing deposits increased 3 basis points to 2.70%. The cost of other borrowings increased 2 basis points to 3.90%, while the cost of funds purchased and repurchase agreements decreased 2 basis points to 3.07%. The benefit to net interest margin from assets funded by noninterest-bearing liabilities was 59 basis points, an increase of 2 basis points.
Other Operating Revenue
(Dollars in thousands)
Sep. 30, 2026
June 30, 2026
Change
% Change
Brokerage and trading revenue
$
19,451
$
32,450
$
(12,999)
(40.1)
%
Transaction card revenue
32,205
31,597
608
1.9
%
Fiduciary and asset management revenue
69,863
71,007
(1,144)
(1.6)
%
Deposit service charges and fees
34,140
33,326
814
2.4
%
Mortgage banking revenue
16,740
18,985
(2,245)
(11.8)
%
Other revenue
15,556
14,627
929
6.4
%
Total fees and commissions
187,955
201,992
(14,037)
(6.9)
%
Other gains, net
5,693
42,415
(36,722)
N/A
Loss on derivatives, net
(19,282)
(8,490)
(10,792)
N/A
Loss on fair value option securities, net
(1,151)
—
(1,151)
N/A
Change in fair value of mortgage servicing rights
18,256
6,300
11,956
N/A
Loss on available-for-sale securities, net
—
(4,645)
4,645
N/A
Total other operating revenue
$
191,471
$
237,572
$
(46,101)
(19.4)
%
Fees and commissions revenue totaled $188.0 million for the third quarter of 2026, decreasing $14.0 million compared to the prior quarter.
Brokerage and trading revenue decreased $13.0 million to $19.5 million, primarily driven by an unfavorable rate environment and lower fixed-income trading volumes during the quarter. The nearly 80 basis point increase in the 10-year Treasury yield reduced customer demand for fixed-income products and mortgage-related activity, resulting in lower transaction volumes and trading revenues.
Mortgage banking revenue decreased $2.2 million, driven by a decline in mortgage production volume and spreads due to rising mortgage interest rates. Production revenue as a percentage of production volume decreased 77 basis points to 0.06%.
Fiduciary and asset management revenue decreased $1.1 million, as the prior quarter benefited from seasonal tax preparation fees. Excluding this seasonal revenue, fiduciary and asset management revenue increased over the prior quarter.
Other gains, net, were a net gain of $5.7 million compared to a net gain of $42.4 million in the prior quarter. The second quarter of 2026 included a $30.9 million pre-tax gain, net of economic hedge, related to the exchange of our Visa B shares under the exchange offer by Visa, Inc. The current quarter included a net gain on investments related to deferred compensation of $1.8 million compared to a net gain of $8.8 million in the prior quarter.
3
BOK Financial Corporation quarterly earnings release
Exhibit 99.1(a)
Operating Expense
(Dollars in thousands)
Sep. 30, 2026
June 30, 2026
Change
% Change
Personnel
$
213,251
$
214,094
$
(843)
(0.4)
%
Business promotion
9,676
11,152
(1,476)
(13.2)
%
Professional fees and services
14,310
13,799
511
3.7
%
Net occupancy and equipment
32,960
34,151
(1,191)
(3.5)
%
FDIC and other insurance
6,350
6,183
167
2.7
%
Data processing and communications
54,320
51,707
2,613
5.1
%
Printing, postage, and supplies
3,888
3,745
143
3.8
%
Amortization of intangible assets
2,311
2,390
(79)
(3.3)
%
Mortgage banking costs
10,664
11,879
(1,215)
(10.2)
%
Other expense
12,931
12,579
352
2.8
%
Total operating expense
$
360,661
$
361,679
$
(1,018)
(0.3)
%
Total operating expense remained stable at $360.7 million for the third quarter of 2026. The third quarter included $1.7 million of deferred compensation expense offset by gains on related investments in Other gains, net. Excluding the impact of deferred compensation, total operating expense increased $6.4 million.
Personnel costs increased $6.5 million excluding the impact of deferred compensation. Regular compensation expense increased $3.2 million, primarily reflecting investments in talent, including the addition of revenue-producing personnel. Cash-based incentive compensation increased $1.2 million due to strong loan production during the quarter. Employee benefits expense increased $1.1 million, driven by higher employee healthcare costs, partially offset by a seasonal decrease in payroll taxes.
Non-personnel expense was consistent with the prior quarter. A $2.6 million increase in data processing and communications expense, primarily driven by higher software costs, was fully offset by decreases in business promotion expense and net occupancy and equipment costs. Mortgage banking costs decreased $1.2 million due to lower loan payoff activity during the quarter.
4
BOK Financial Corporation quarterly earnings release
Exhibit 99.1(a)
Loans
(Dollars in thousands)
Sep. 30, 2026
June 30, 2026
Change
% Change
Commercial:
Services
$
4,071,262
$
4,099,879
$
(28,617)
(0.7)%
Healthcare
4,025,188
4,083,814
(58,626)
(1.4)%
Energy
3,316,625
3,052,662
263,963
8.6%
Mortgage finance
588,956
451,826
137,130
30.4%
General business
4,653,214
4,609,267
43,947
1.0%
Total commercial
16,655,245
16,297,448
357,797
2.2%
Commercial real estate:
Multifamily
2,550,096
2,570,246
(20,150)
(0.8)%
Industrial
1,448,975
1,283,315
165,660
12.9%
Office
840,859
852,721
(11,862)
(1.4)%
Retail
706,760
670,893
35,867
5.3%
Residential construction and land development
112,124
111,668
456
0.4%
Other commercial real estate
474,481
396,487
77,994
19.7%
Total commercial real estate
6,133,295
5,885,330
247,965
4.2%
Loans to individuals:
Residential mortgage
2,860,238
2,847,768
12,470
0.4%
Residential mortgage guaranteed by U.S. government agencies
161,171
159,886
1,285
0.8%
Personal
1,919,555
1,893,283
26,272
1.4%
Total loans to individuals
4,940,964
4,900,937
40,027
0.8%
Total loans
$
27,729,504
$
27,083,715
$
645,789
2.4%
Outstanding loans were $27.7 billion at September 30, 2026, a $646 million increase over June 30, 2026, led by energy loans, commercial real estate loans secured by industrial facilities, and mortgage finance loans. Unfunded loan commitments were $16.6 billion at September 30, 2026, consistent with the prior quarter.
Outstanding commercial loan balances, which include services, healthcare, energy, mortgage finance, and general business loans, increased $358 million over the prior quarter.
Energy loan balances grew by $264 million to $3.3 billion, or 12% of total loans. The majority of this portfolio is first lien, senior secured, reserve-based lending to oil and gas producers, which we believe is the lowest risk form of energy lending. Approximately 72% of committed production loans are secured by properties primarily producing oil. The remaining 28% are secured by properties primarily producing natural gas. Unfunded energy loan commitments were $4.3 billion at September 30, 2026, a $273 million decrease compared to June 30, 2026.
The Company launched the residential mortgage finance line of business in the third quarter of 2025, and these loan balances increased by $137 million during the current quarter to $589 million, or 2% of total loans. Mortgage finance loans primarily consist of warehouse lending facilities to Independent Mortgage Bankers to fund residential mortgages.
General business loans increased $44 million to $4.7 billion, or 17% of total loans. General business loans consist of $3.0 billion of wholesale/retail loans and $1.6 billion of loans from other commercial industries.
Services sector loan balances decreased $29 million compared to the prior quarter and totaled $4.1 billion, or 15% of total loans. Services sector loans consist of a large number of loans to a variety of businesses, including state and local municipal government entities, Native American tribal government and casino operations, foundations and not-for-profit organizations, educational services, and specialty trade contractors.
5
BOK Financial Corporation quarterly earnings release
Exhibit 99.1(a)
Healthcare sector loan balances decreased $59 million and totaled $4.0 billion, or 15% of total loans. Our healthcare sector loans primarily consist of $3.1 billion of loans for the development and operation of senior housing and care facilities, including independent living, assisted living, and skilled nursing. Generally, we loan to borrowers with a portfolio of multiple facilities, which serves to help diversify risks specific to a single facility.
Commercial real estate loan balances increased $248 million to $6.1 billion, representing 22% of total loans. Loans secured by industrial facilities increased $166 million, other real estate loans increased $78 million, and loans secured by retail facilities increased $36 million. Loans secured by multifamily residential properties decreased $20 million and loans secured by office facilities decreased $12 million to $841 million. Unfunded commercial real estate loan commitments were $2.4 billion at September 30, 2026, a $105 million increase over June 30, 2026. We take a disciplined approach to managing our concentration of commercial real estate loan commitments as a percentage of capital.
Loans to individuals increased $40 million to $4.9 billion and represented 18% of total loans. Personal loans increased by $26 million and residential mortgage loans increased $14 million. Personal loans consist primarily of loans to Wealth Management clients secured by the cash surrender value of insurance policies or marketable securities. Personal loans also include direct loans secured by and for the purchase of automobiles, recreational and marine equipment, as well as unsecured loans.
Period End & Average Deposits
(Dollars in thousands)
Sep. 30, 2026
June 30, 2026
Change
% Change
Period end deposits
Demand
$
7,839,541
$
7,861,661
$
(22,120)
(0.3)
%
Interest-bearing transaction
26,892,362
27,242,418
(350,056)
(1.3)
%
Savings
896,472
900,480
(4,008)
(0.4)
%
Time
3,903,004
3,851,282
51,722
1.3
%
Total deposits
$
39,531,379
$
39,855,841
$
(324,462)
(0.8)
%
Average deposits
Demand
$
7,709,027
$
7,682,623
$
26,404
0.3
%
Interest-bearing transaction
27,036,654
26,826,903
209,751
0.8
%
Savings
897,005
902,531
(5,526)
(0.6)
%
Time
3,891,451
3,818,067
73,384
1.9
%
Total average deposits
$
39,534,137
$
39,230,124
$
304,013
0.8
%
Our funding sources, which primarily include deposits and wholesale borrowings, provide adequate liquidity to meet our needs. The loan to deposit ratio was 70% at September 30, 2026, compared to 68% at June 30, 2026, providing significant on-balance sheet liquidity to meet future loan demand and contractual obligations.
Period end deposits totaled $39.5 billion at September 30, 2026, a $324 million decrease. Interest-bearing transaction accounts decreased $350 million, demand deposits decreased $22 million, and time deposits increased $52 million.
Average deposits were $39.5 billion during the third quarter, a $304 million increase. Average interest-bearing transaction accounts increased $210 million, average time deposits increased $73 million, and average demand deposits increased $26 million.
Average Commercial Banking deposits increased $162 million to $19.1 billion, or 48% of total deposits. Our commercial deposit portfolio is highly diversified across industries and customers. The highest concentration by industry within our commercial deposit portfolio is with our energy customers representing 9% of our total deposits. Average Consumer Banking deposits increased $42 million to $8.6 billion, or 22% of total deposits. Average Wealth Management deposits increased by $102 million to $10.8 billion, or 27% of total deposits. Average Funds Management and Other deposits were largely unchanged at $1.1 billion, or 3% of total deposits.
6
BOK Financial Corporation quarterly earnings release
Exhibit 99.1(a)
Capital
Minimum Capital Requirement
Capital Conservation Buffer
Minimum Capital Requirement Including Capital Conservation Buffer
Sep. 30, 2026
June 30, 2026
Common equity Tier 1
4.50
%
2.50
%
7.00
%
12.73
%
12.89
%
Tier 1 capital
6.00
%
2.50
%
8.50
%
12.73
%
12.89
%
Total capital
8.00
%
2.50
%
10.50
%
14.43
%
14.67
%
Tier 1 leverage
4.00
%
N/A
4.00
%
9.95
%
9.81
%
Tangible common equity ratio
1
9.16
%
9.61
%
Common stock repurchased (shares)
—
2,519
Average price per share repurchased
$
—
$
129.89
The company's common equity Tier 1 capital ratio was 12.73% at September 30, 2026. In addition, the company's Tier 1 capital ratio was 12.73%, total capital ratio was 14.43%, and leverage ratio was 9.95% at September 30, 2026. At June 30, 2026, the company's common equity Tier 1 capital ratio was 12.89%, Tier 1 capital ratio was 12.89%, total capital ratio was 14.67%, and leverage ratio was 9.81%.
The company's tangible common equity ratio
1
, a non-GAAP measure, was 9.16% at September 30, 2026, and 9.61% at June 30, 2026. The tangible common equity ratio is primarily based on total shareholders' equity, which includes unrealized gains and losses on available-for-sale securities.
No shares of common stock were repurchased during the third quarter of 2026. The company repurchased 2,519 shares of common stock at an average price of $129.89 per share in the second quarter of 2026. We view buybacks opportunistically, but within the context of maintaining our strong capital position.
Credit Quality
Nonperforming assets totaled $67 million, or 0.24% of outstanding loans and repossessed assets, at September 30, 2026, compared to $63 million, or 0.23%, at June 30, 2026. Excluding loans guaranteed by U.S. government agencies, nonperforming assets totaled $58 million, or 0.21% of outstanding loans and repossessed assets, at September 30, 2026, compared to $55 million, or 0.20%, at June 30, 2026.
Nonaccruing loans increased $4.1 million compared to June 30, 2026. New nonaccruing loans identified in the third quarter totaled $12 million, offset by $4.7 million in payments received, $1.7 million in charge-offs, and $1.2 million in loans that returned to accrual status. Nonaccruing healthcare loans increased $4.0 million and nonaccruing loans to individuals increased $1.6 million, while nonaccruing general business loans decreased $1.3 million.
Net charge-offs were $886 thousand, or 0.01% of average loans on an annualized basis, in the third quarter. At September 30, 2026, net charge-offs for the trailing twelve months were $4.7 million, or 0.02% of average loans. Net charge-offs were $500 thousand, or 0.01% of average loans on an annualized basis, in the second quarter of 2026.
No provision for expected credit losses was necessary for the third quarter of 2026. An improvement in economic forecast assumptions, primarily GDP growth and lower unemployment, compared to the prior quarter was offset by the impact of loan growth during the quarter.
At September 30, 2026, the combined allowance for loan losses and accrual for off-balance sheet credit risk from unfunded loan commitments was $322 million, or 1.16% of outstanding loans and 555% of nonaccruing loans, excluding residential mortgage loans guaranteed by U.S. government agencies. At June 30, 2026, the combined allowance for loan losses and accrual for off-balance sheet credit risk from unfunded loan commitments was $323 million, or 1.19% of outstanding loans and 592% of nonaccruing loans, excluding residential mortgage loans guaranteed by U.S. government agencies.
1
See Explanation and Reconciliation of Non-GAAP Measures - Unaudited section following.
7
BOK Financial Corporation quarterly earnings release
Exhibit 99.1(a)
Securities & Derivatives
The fair value of the available-for-sale securities portfolio totaled $13.9 billion at September 30, 2026, a $277 million increase compared to June 30, 2026. At September 30, 2026, the available-for-sale securities portfolio consisted primarily of $10.5 billion of residential mortgage-backed securities fully backed by U.S. government agencies and $2.5 billion of commercial mortgage-backed securities fully backed by U.S. government agencies. At September 30, 2026, the available-for-sale securities portfolio had a net unrealized loss of $650 million, compared to $256 million at June 30, 2026.
We hold an inventory of trading securities in support of sales to a variety of customers. At September 30, 2026, the trading securities portfolio totaled $4.1 billion, compared to $5.0 billion at June 30, 2026.
Derivative contracts are carried at fair value. At September 30, 2026, the net fair values of derivative contracts, before consideration of cash margin, reported as assets under our customer risk management programs totaled $910 million, compared to $445 million at June 30, 2026. The aggregate net fair value of derivative contracts, before consideration of cash margin, held under these programs reported as liabilities totaled $882 million at September 30, 2026, and $433 million at June 30, 2026.
The company also maintains a portfolio of residential mortgage-backed and commercial mortgage-backed securities issued by U.S. government agencies and interest rate derivative contracts as an economic hedge of the changes in the fair value of our mortgage servicing rights. This portfolio of fair value option securities decreased $1.5 million to $27 million at September 30, 2026.
The net cost of the changes in the fair value of mortgage servicing rights and related economic hedges was $887 thousand during the third quarter of 2026, including a $19.1 million decrease in the fair value of securities and derivative contracts held as an economic hedge, an $18.3 million increase in the fair value of mortgage servicing rights, and $3 thousand of related net interest expense.
Third Quarter 2026 Segment Highlights
Commercial Banking
Consumer Banking
Wealth Management
(In thousands)
Sep. 30, 2026
June 30, 2026
Sep. 30, 2026
June 30, 2026
Sep. 30, 2026
June 30, 2026
Net interest income and fee revenue
$
241,184
$
240,406
$
95,784
$
95,759
$
141,148
$
146,459
Net loans charged-off (recovered)
1,474
(145)
1,302
1,118
(25)
(5)
Personnel expense
51,155
50,042
26,136
24,715
68,260
66,332
Non-personnel expense
32,426
32,049
38,206
38,721
27,408
27,866
Net income before taxes
140,712
146,160
14,468
13,555
28,846
34,977
Average loans
$
22,357,163
$
22,003,116
$
2,675,121
$
2,633,853
$
2,562,344
$
2,479,191
Average deposits
19,080,487
18,918,188
8,635,318
8,592,876
10,757,766
10,656,194
Assets under management or administration
$
129,333,432
$
129,271,398
Commercial Banking contributed $140.7 million to net income before taxes in the third quarter of 2026, a decrease of $5.4 million compared to the second quarter of 2026. Combined net interest income and fee revenue totaled $241.2 million, consistent with the prior quarter. Net interest income increased $2.9 million due to
increased loan volumes
. Investment banking revenue decreased $4.3 million
due to lower loan syndication fees.
Other operating expense increase
d $1.5 million, primarily reflecting investments in talent, including the addition of revenue-producing personnel during the quarter
.
Other gains, net, were $1.9 million for the third quarter of 2026, compared to $4.3 million in the second quarter of 2026 from
merchant banking activities.
Average loans increased $354 million, or 2%, to $22.4 billion. Average deposits remained stable at $19.1 billion.
8
BOK Financial Corporation quarterly earnings release
Exhibit 99.1(a)
Consumer Banking contributed $14.5 million to net income before taxes in the third quarter of 2026, largely unchanged from the prior quarter. Combined net interest income and fee revenue
totaled
$95.8 million,
consistent with the prior quarter.
Personnel expense increased $1.4 million which was fully offset by lower corporate expense allocations. Average loans increased $41 million, or 2%, to $2.7 billion. Average deposits were largely unchanged at $8.6 billion.
Wealth Management contributed $28.8 million to net income before taxes in the third quarter of 2026, a decrease of $6.1 million compared to the second quarter of 2026. Combined net interest income and fee revenue decreased $5.3 million. Total revenue from trading activities decreased $9.9 million reflecting an unfavorable rate environment and lower fixed-income trading volumes during the quarter. Investment banking revenue increased
$5.2 million due to higher municipal underwriting and financial advisory fees.
Other operating expense increased $1.5 million,
primarily due to higher cash-based incentive compensation costs, reflecting stronger underwriting activity during the quarter.
Average loans increased $83 million, or 3%, to $2.6 billion. Average deposits were
largely unchanged
at $10.8 billion. Assets under management or administration remained stable at $129.3 billion.
Conference Call & Webcast
The company will host a conference call at noon Central time on Tuesday, October 20, 2026, to discuss the financial results with investors. The live audio webcast and presentation slides will be available on the company’s website at bokf.com. The conference call can also be accessed by dialing 1-833-461-5787 toll free, or 1-585-542-9983, meeting ID: 717 984 566. A webcast replay will also be available shortly after the conclusion of the live call at bokf.com or by dialing 1-833-309-1852 and referencing replay meeting ID: 717 984 566.
About BOK Financial Corporation
BOK Financial Corporation is a $54 billion regional financial services company headquartered in Tulsa, Oklahoma with $129 billion in assets under management or administration. The company's stock is publicly traded on NASDAQ under the Global Select market listings (BOKF). BOK Financial Corporation's holdings include BOKF, NA; BOK Financial Securities, Inc.; and BOK Financial Private Wealth, Inc. BOKF, NA's holdings include TransFund and Cavanal Hill Investment Management, Inc. BOKF, NA operates banking divisions across eight states as: Bank of Albuquerque; Bank of Oklahoma; Bank of Texas; and BOK Financial in Arizona, Arkansas, Colorado, Kansas and Missouri; as well as having limited purpose offices in Connecticut, Nebraska, Tennessee, and Wisconsin. Through its subsidiaries, BOK Financial Corporation provides commercial and consumer banking, brokerage trading, investment and trust services, mortgage origination and servicing, and an electronic funds transfer network. For more information, visit www.bokf.com.
The company will continue to evaluate critical assumptions and estimates, such as the appropriateness of the allowance for credit losses and asset impairment as of September 30, 2026 through the date its financial statements are filed with the Securities and Exchange Commission and will adjust amounts reported if necessary.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 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,” “believes,” “estimates,” “expects,” “forecasts,” “plans,” “outlook,” “projects,” “will,” “intends,” “may,” “could,” “should,” “would,” “potential,” “continue,” “seek,” “target,” variations of such words and similar expressions are intended to identify such forward-looking statements. Management judgments relating to and discussion of the provision and allowance for credit losses, allowance for uncertain tax positions, accruals for loss contingencies and valuation of mortgage servicing rights involve judgments as to expected events and are inherently forward-looking statements. Assessments that acquisitions and growth endeavors will be profitable are statements of belief as to the outcome of future events based in part on information provided by others which BOK Financial has not independently verified and for which BOK Financial assumes no responsibility for the accuracy or completeness. These various forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties, and assumptions which are difficult to predict with regard to timing, extent, likelihood and degree of occurrence. All statements other than statements of historical fact are forward-looking statements. Therefore, actual results and outcomes may materially differ from what is expected, implied or forecasted in such forward-looking statements. Internal and external factors that might cause such a difference include, but are not limited to: changes in government; changes in governmental economic policy, including tariffs; changes in commodity prices; interest rates and interest rate relationships; inflation; demand for products and services; the degree of competition by traditional and nontraditional competitors; changes in banking regulations; tax laws; prices, levies and assessments; the impact of technological advances; trends in customer behavior as well as their ability to repay loans; credit quality deterioration; cybersecurity incidents and data breaches; operational failures or interruptions; liquidity risks; capital adequacy requirements; litigation and regulatory enforcement actions; and other risks detailed in BOK Financial Corporation’s filings with the Securities and Exchange Commission. BOK Financial Corporation and its affiliates undertake no obligation to update, amend or clarify forward-looking statements, whether as a result of new information, future events, or otherwise.
9
BOK Financial Corporation Quarterly Earnings Release
Exhibit 99.1(b)
BALANCE SHEETS – UNAUDITED
BOK FINANCIAL CORPORATION
(In thousands)
Sep 30, 2026
June 30, 2026
Assets
Cash and due from banks
$
878,300
$
975,769
Interest-bearing cash and cash equivalents
387,089
545,597
Trading securities
4,056,856
4,952,988
Investment securities, net of allowance
1,567,688
1,627,281
Available-for-sale securities
13,859,871
13,582,780
Fair value option securities
26,959
28,461
Restricted equity securities
334,911
298,418
Residential mortgage loans held for sale
82,884
102,531
Loans:
Commercial
16,655,245
16,297,448
Commercial real estate
6,133,295
5,885,330
Loans to individuals
4,940,964
4,900,937
Total loans
27,729,504
27,083,715
Allowance for loan losses
(272,565)
(277,474)
Loans, net of allowance
27,456,939
26,806,241
Premises and equipment, net
612,261
651,641
Receivables
278,319
292,415
Goodwill
1,044,749
1,044,749
Intangible assets, net
15,961
29,828
Mortgage servicing rights
346,586
333,998
Real estate and other repossessed assets, net of allowance
303
508
Derivative contracts, net
864,125
324,711
Cash surrender value of bank-owned life insurance
426,282
423,126
Receivable on unsettled securities sales
776,544
39,673
Other assets
1,058,551
1,118,572
Total assets
$
54,075,178
$
53,179,287
Liabilities
Deposits:
Demand
$
7,839,541
$
7,861,661
Interest-bearing transaction
26,892,362
27,242,418
Savings
896,472
900,480
Time
3,903,004
3,851,282
Total deposits
39,531,379
39,855,841
Funds purchased and repurchase agreements
1,838,395
1,503,916
Other borrowings
3,769,253
3,073,995
Subordinated debentures
396,697
396,661
Accrued interest, taxes, and expense
309,229
292,534
Due on unsettled securities purchases
1,327,763
1,155,712
Derivative contracts, net
520,298
325,231
Other liabilities
467,112
490,499
Total liabilities
48,160,126
47,094,389
Shareholders' equity
Capital, surplus, and retained earnings
6,458,944
6,332,631
Accumulated other comprehensive loss
(544,453)
(249,525)
Total shareholders’ equity
5,914,491
6,083,106
Non-controlling interests
561
1,792
Total equity
5,915,052
6,084,898
Total liabilities and equity
$
54,075,178
$
53,179,287
10
BOK Financial Corporation Quarterly Earnings Release
Exhibit 99.1(b)
AVERAGE BALANCE SHEETS – UNAUDITED
BOK FINANCIAL CORPORATION
Three Months Ended
(In thousands)
Sep 30, 2026
June 30, 2026
Mar. 31, 2026
Dec. 31, 2025
Sep. 30, 2025
Assets
Interest-bearing cash and cash equivalents
$
534,863
$
550,518
$
577,641
$
546,045
$
495,091
Trading securities
5,908,204
5,876,732
5,617,531
5,295,598
5,603,200
Investment securities, net of allowance
1,591,744
1,676,175
1,747,860
1,804,984
1,861,565
Available-for-sale securities
13,854,420
13,554,693
13,614,473
13,564,939
13,386,515
Fair value option securities
27,833
71,064
126,772
72,229
105,651
Restricted equity securities
439,155
461,753
361,514
250,430
337,055
Residential mortgage loans held for sale
92,731
93,685
77,105
91,414
91,422
Loans:
Commercial
16,374,803
16,015,484
15,430,740
15,037,471
14,490,145
Commercial real estate
5,972,277
5,914,630
5,779,715
5,581,588
5,743,572
Loans to individuals
4,890,623
4,839,524
4,715,130
4,623,492
4,592,422
Total loans
27,237,703
26,769,638
25,925,585
25,242,551
24,826,139
Allowance for loan losses
(276,455)
(277,546)
(276,437)
(277,580)
(277,398)
Loans, net of allowance
26,961,248
26,492,092
25,649,148
24,964,971
24,548,741
Total earning assets
49,410,198
48,776,712
47,772,044
46,590,610
46,429,240
Cash and due from banks
1,033,468
979,068
963,980
988,135
960,602
Derivative contracts, net
580,254
662,250
421,256
268,675
317,732
Cash surrender value of bank-owned life insurance
424,214
422,700
422,540
420,167
417,261
Receivable on unsettled securities sales
223,492
196,521
173,506
227,678
162,035
Other assets
3,410,011
3,520,847
3,369,683
3,357,081
3,405,206
Total assets
$
55,081,637
$
54,558,098
$
53,123,009
$
51,852,346
$
51,692,076
Liabilities
Deposits:
Demand
$
7,709,027
$
7,682,623
$
7,693,948
$
8,009,082
$
7,894,847
Interest-bearing transaction
27,036,654
26,826,903
26,707,581
27,396,541
26,076,475
Savings
897,005
902,531
877,650
852,390
867,939
Time
3,891,451
3,818,067
3,701,080
3,729,596
3,641,985
Total deposits
39,534,137
39,230,124
38,980,259
39,987,609
38,481,246
Funds purchased and repurchase agreements
375,717
520,881
924,228
1,185,566
873,800
Other borrowings
7,163,522
6,922,451
5,349,061
3,008,388
5,048,301
Subordinated debentures
396,678
396,642
396,606
241,482
—
Derivative contracts, net
386,728
291,598
302,403
317,206
332,893
Due on unsettled securities purchases
516,586
494,740
418,478
452,673
329,361
Other liabilities
626,273
661,187
727,779
697,979
663,323
Total liabilities
48,999,641
48,517,623
47,098,814
45,890,903
45,728,924
Total equity
6,081,996
6,040,475
6,024,195
5,961,443
5,963,152
Total liabilities and equity
$
55,081,637
$
54,558,098
$
53,123,009
$
51,852,346
$
51,692,076
11
BOK Financial Corporation Quarterly Earnings Release
Exhibit 99.1(b)
STATEMENTS OF EARNINGS – UNAUDITED
BOK FINANCIAL CORPORATION
Three Months Ended
Nine Months Ended
September 30,
September 30,
(In thousands, except share and per share data)
2026
2025
2026
2025
Interest revenue
$
666,351
$
644,453
$
1,921,410
$
1,905,450
Interest expense
296,376
306,807
857,051
923,387
Net interest income
369,975
337,646
1,064,359
982,063
Provision for credit losses
—
2,000
—
2,000
Net interest income after provision for credit losses
369,975
335,646
1,064,359
980,063
Other operating revenue:
Brokerage and trading revenue
19,451
43,239
95,507
112,432
Transaction card revenue
32,205
29,463
95,767
86,116
Fiduciary and asset management revenue
69,863
63,878
207,351
188,814
Deposit service charges and fees
34,140
31,896
99,684
93,490
Mortgage banking revenue
16,740
19,764
56,688
58,572
Other revenue
15,556
16,190
44,727
46,452
Total fees and commissions
187,955
204,430
599,724
585,876
Other gains, net
5,693
8,264
47,892
15,679
Gain (loss) on derivatives, net
(19,282)
(453)
(32,146)
14,647
Gain (loss) on fair value option securities, net
(1,151)
630
(3,225)
2,067
Change in fair value of mortgage servicing rights
18,256
(2,375)
32,711
(14,634)
Gain (loss) on available-for-sale securities, net
—
213
(4,645)
213
Total other operating revenue
191,471
210,709
640,311
603,848
Other operating expense:
Personnel
213,251
226,347
638,519
655,243
Business promotion
9,676
9,960
30,054
27,917
Professional fees and services
14,310
15,137
42,404
43,808
Net occupancy and equipment
32,960
33,040
100,293
98,689
FDIC and other insurance
6,350
7,302
18,218
20,328
FDIC special assessment
—
(1,209)
—
(1,209)
Data processing and communications
54,320
50,062
157,795
147,237
Printing, postage, and supplies
3,888
4,036
11,312
11,742
Amortization of intangible assets
2,311
2,656
7,144
7,964
Mortgage banking costs
10,664
10,668
34,300
25,068
Other expense
12,931
11,771
36,467
35,015
Total other operating expense
360,661
369,770
1,076,506
1,071,802
Net income before taxes
200,785
176,585
628,164
512,109
Federal and state income taxes
40,910
35,714
135,987
111,397
Net income
159,875
140,871
492,177
400,712
Net income (loss) attributable to non-controlling interests
22
(23)
19
23
Net income attributable to BOK Financial Corporation shareholders
$
159,853
$
140,894
$
492,158
$
400,689
Earnings per share:
Basic and diluted
$
2.64
$
2.22
$
8.14
$
6.27
Average shares used in computation:
Basic and diluted
60,101,757
62,840,270
60,072,208
63,196,043
12
BOK Financial Corporation Quarterly Earnings Release
Exhibit 99.1(b)
QUARTERLY EARNINGS TREND – UNAUDITED
BOK FINANCIAL CORPORATION
Three Months Ended
(In thousands, except share and per share data)
Sep 30, 2026
June 30, 2026
Mar. 31, 2026
Dec. 31, 2025
Sep. 30, 2025
Interest revenue
$
666,351
$
639,134
$
615,925
$
625,818
$
644,453
Interest expense
296,376
287,304
273,371
280,537
306,807
Net interest income
369,975
351,830
342,554
345,281
337,646
Provision for credit losses
—
—
—
—
2,000
Net interest income after provision for credit losses
369,975
351,830
342,554
345,281
335,646
Other operating revenue:
Brokerage and trading revenue
19,451
32,450
43,606
47,310
43,239
Transaction card revenue
32,205
31,597
31,965
31,564
29,463
Fiduciary and asset management revenue
69,863
71,007
66,481
68,347
63,878
Deposit service charges and fees
34,140
33,326
32,218
32,039
31,896
Mortgage banking revenue
16,740
18,985
20,963
19,013
19,764
Other revenue
15,556
14,627
14,544
16,591
16,190
Total fees and commissions
187,955
201,992
209,777
214,864
204,430
Other gains (losses), net
5,693
42,415
(216)
28,078
8,264
Loss on derivatives, net
(19,282)
(8,490)
(4,374)
(2,366)
(453)
Gain (loss) on fair value option securities, net
(1,151)
—
(2,074)
551
630
Change in fair value of mortgage servicing rights
18,256
6,300
8,155
1,407
(2,375)
Gain (loss) on available-for-sale securities, net
—
(4,645)
—
1,748
213
Total other operating revenue
191,471
237,572
211,268
244,282
210,709
Other operating expense:
Personnel
213,251
214,094
211,174
222,726
226,347
Business promotion
9,676
11,152
9,226
11,516
9,960
Professional fees and services
14,310
13,799
14,295
18,371
15,137
Net occupancy and equipment
32,960
34,151
33,182
32,693
33,040
FDIC and other insurance
6,350
6,183
5,685
6,078
7,302
FDIC special assessment
—
—
—
(9,479)
(1,209)
Data processing and communications
54,320
51,707
51,768
51,299
50,062
Printing, postage, and supplies
3,888
3,745
3,679
4,077
4,036
Amortization of intangible assets
2,311
2,390
2,443
2,656
2,656
Mortgage banking costs
10,664
11,879
11,757
10,663
10,668
Other expense
12,931
12,579
10,957
10,454
11,771
Total other operating expense
360,661
361,679
354,166
361,054
369,770
Net income before taxes
200,785
227,723
199,656
228,509
176,585
Federal and state income taxes
40,910
51,141
43,936
51,243
35,714
Net income
159,875
176,582
155,720
177,266
140,871
Net income (loss) attributable to non-controlling interests
22
43
(46)
(35)
(23)
Net income attributable to BOK Financial Corporation shareholders
$
159,853
$
176,539
$
155,766
$
177,301
$
140,894
Earnings per share:
Basic and diluted
$
2.64
$
2.92
$
2.58
$
2.89
$
2.22
Average shares used in computation:
Basic and diluted
60,101,757
60,080,833
60,033,282
60,916,929
62,840,270
13
BOK Financial Corporation Quarterly Earnings Release
Exhibit 99.1(b)
FINANCIAL HIGHLIGHTS – UNAUDITED
BOK FINANCIAL CORPORATION
Three Months Ended
(In thousands, except ratio, share, and per share data)
Sep 30, 2026
June 30, 2026
Mar. 31, 2026
Dec. 31, 2025
Sep. 30, 2025
Capital:
Period end shareholders' equity
$
5,914,491
$
6,083,106
$
5,973,175
$
5,918,646
$
6,022,535
Risk-weighted assets
$
42,542,692
$
40,936,020
$
40,777,918
$
38,966,948
$
38,136,467
Risk-based capital ratios:
Common equity Tier 1
12.73
%
12.89
%
12.61
%
12.90
%
13.60
%
Tier 1
12.73
%
12.89
%
12.61
%
12.90
%
13.61
%
Total capital
14.43
%
14.67
%
14.39
%
14.77
%
14.48
%
Leverage ratio
9.95
%
9.81
%
9.85
%
9.86
%
10.19
%
Tangible common equity ratio
1
9.16
%
9.61
%
9.29
%
9.46
%
10.06
%
Common stock:
Book value per share
$
97.34
$
100.11
$
98.31
$
97.63
$
95.22
Tangible book value per share
$
79.89
$
82.42
$
80.58
$
79.83
$
78.11
Market value per share:
High
$
146.84
$
139.73
$
138.42
$
122.16
$
114.17
Low
$
125.96
$
123.24
$
113.53
$
102.72
$
96.89
Cash dividends paid
$
38,123
$
38,116
$
38,118
$
38,042
$
36,122
Dividend payout ratio
23.85
%
21.59
%
24.47
%
21.46
%
25.64
%
Shares outstanding, net
60,758,773
60,766,867
60,759,992
60,620,507
63,247,676
Stock buy-back program:
Shares repurchased
—
2,519
—
2,617,414
365,547
Amount
$
—
$
327
$
—
$
282,645
$
40,575
Average price paid per share
2
$
—
$
129.89
$
—
$
107.99
$
111.00
Performance ratios (quarter annualized):
Return on average assets
1.15
%
1.30
%
1.19
%
1.36
%
1.08
%
Return on average equity
10.43
%
11.73
%
10.49
%
11.80
%
9.38
%
Return on average tangible common equity
1
12.66
%
14.27
%
12.78
%
14.42
%
11.46
%
Net interest margin
3.00
%
2.91
%
2.90
%
2.98
%
2.91
%
Efficiency ratio
1
63.52
%
60.21
%
63.21
%
60.71
%
66.66
%
Adjusted efficiency ratio
1
63.52
%
63.49
%
63.21
%
64.89
%
66.88
%
Other data:
Tax-equivalent interest
$
2,709
$
2,719
$
2,610
$
2,555
$
2,565
Net unrealized loss on available-for-sale securities
$
(649,774)
$
(256,458)
$
(216,978)
$
(132,566)
$
(203,682)
1
See Explanation and Reconciliation of Non-GAAP Measures - Unaudited section following.
2
Excludes 1% excise tax on corporate stock repurchases.                                     14
BOK Financial Corporation Quarterly Earnings Release
Exhibit 99.1(b)
Three Months Ended
(In thousands, except ratio, share, and per share data)
Sep 30, 2026
June 30, 2026
Mar. 31, 2026
Dec. 31, 2025
Sep. 30, 2025
Mortgage banking:
Mortgage production revenue
$
119
$
2,174
$
3,926
$
1,963
$
2,370
Mortgage loans funded for sale
$
231,130
$
280,838
$
230,858
$
230,376
$
229,812
Add: Current period end outstanding commitments
45,385
65,547
83,674
49,048
67,842
Less: Prior period end outstanding commitments
65,547
83,674
49,048
67,842
64,508
Total mortgage production volume
$
210,968
$
262,711
$
265,484
$
211,582
$
233,146
Mortgage loan refinances to mortgage loans funded for sale
16
%
20
%
30
%
27
%
13
%
Realized margin on funded mortgage loans
0.39
%
1.01
%
1.22
%
1.10
%
0.96
%
Production revenue as a percentage of production volume
0.06
%
0.83
%
1.48
%
0.93
%
1.02
%
Mortgage servicing revenue
$
16,621
$
16,811
$
17,037
$
17,050
$
17,394
Average outstanding principal balance of mortgage loans serviced for others
$
21,335,683
$
21,718,909
$
22,109,450
$
21,882,238
$
22,269,300
Average mortgage servicing revenue rates
0.31
%
0.31
%
0.31
%
0.31
%
0.31
%
Gain (loss) on mortgage servicing rights, net of economic hedge:
Loss on derivatives, net
$
(17,989)
$
(7,324)
$
(4,211)
$
(2,651)
$
(508)
Gain (loss) on fair value option securities, net
(1,151)
—
(2,074)
551
630
Gain (loss) on economic hedge of mortgage servicing rights
(19,140)
(7,324)
(6,285)
(2,100)
122
Change in fair value of mortgage servicing rights
18,256
6,300
8,155
1,407
(2,375)
Gain (loss) on changes in fair value of mortgage servicing rights, net of economic hedges, included in other operating revenue
(884)
(1,024)
1,870
(693)
(2,253)
Net interest income (expense) on fair value option securities
3
(3)
110
86
114
169
Total economic benefit (cost) of changes in the fair value of mortgage servicing rights, net of economic hedges
$
(887)
$
(914)
$
1,956
$
(579)
$
(2,084)
3
Actual interest earned on fair value option securities less internal transfer-priced cost of funds.
15
BOK Financial Corporation Quarterly Earnings Release
Exhibit 99.1(b)
EXPLANATION AND RECONCILIATION OF NON-GAAP MEASURES – UNAUDITED
BOK FINANCIAL CORPORATION
Three Months Ended
(In thousands, except ratio and per share data)
Sep 30, 2026
June 30, 2026
Mar. 31, 2026
Dec. 31, 2025
Sep. 30, 2025
Reconciliation of tangible common equity ratio:
Total shareholders' equity
$
5,914,491
$
6,083,106
$
5,973,175
$
5,918,646
$
6,022,535
Less: Goodwill and intangible assets, net
1,060,710
1,074,577
1,077,052
1,079,501
1,082,125
Tangible common equity
$
4,853,781
$
5,008,529
$
4,896,123
$
4,839,145
$
4,940,410
Total assets
$
54,075,178
$
53,179,287
$
53,760,405
$
52,237,501
$
50,193,387
Less: Goodwill and intangible assets, net
1,060,710
1,074,577
1,077,052
1,079,501
1,082,125
Tangible assets
$
53,014,468
$
52,104,710
$
52,683,353
$
51,158,000
$
49,111,262
Tangible common equity ratio
9.16
%
9.61
%
9.29
%
9.46
%
10.06
%
Reconciliation of return on average tangible common equity:
Total average shareholders' equity
$
6,080,564
$
6,038,651
$
6,022,247
$
5,959,186
$
5,960,711
Less: Average goodwill and intangible assets, net
1,069,452
1,075,733
1,078,240
1,080,758
1,083,390
Average tangible common equity
$
5,011,112
$
4,962,918
$
4,944,007
$
4,878,428
$
4,877,321
Net income attributable to BOK Financial Corporation shareholders
$
159,853
$
176,539
$
155,766
$
177,301
$
140,894
Return on average tangible common equity
12.66
%
14.27
%
12.78
%
14.42
%
11.46
%
Calculation of efficiency ratio and adjusted efficiency ratio:
Total other operating expense
$
360,661
$
361,679
$
354,166
$
361,054
$
369,770
Less: Amortization of intangible assets
2,311
2,390
2,443
2,656
2,656
Numerator for efficiency ratio
$
358,350
$
359,289
$
351,723
$
358,398
$
367,114
Less: FDIC special assessment benefit
—
—
—
(9,479)
(1,209)
Numerator for adjusted efficiency ratio
$
358,350
$
359,289
$
351,723
$
367,877
$
368,323
Net interest income
$
369,975
$
351,830
$
342,554
$
345,281
$
337,646
Add: Tax-equivalent adjustment
2,709
2,719
2,610
2,555
2,565
Tax-equivalent net interest income
372,684
354,549
345,164
347,836
340,211
Add: Total other operating revenue
191,471
237,572
211,268
244,282
210,709
Less: Gain (loss) on available-for-sale securities, net
—
(4,645)
—
1,748
213
Denominator for efficiency ratio
$
564,155
$
596,766
$
556,432
$
590,370
$
550,707
Less: Gain on sale of merchant banking investment
—
—
—
23,475
—
Less: Gain on exchange of Visa shares
—
30,908
—
—
—
Denominator for adjusted efficiency ratio
$
564,155
$
565,858
$
556,432
$
566,895
$
550,707
Efficiency ratio
63.52
%
60.21
%
63.21
%
60.71
%
66.66
%
Adjusted efficiency ratio
63.52
%
63.49
%
63.21
%
64.89
%
66.88
%
Reconciliation of pre-provision net revenue:
Net income before taxes
$
200,785
$
227,723
$
199,656
$
228,509
$
176,585
Add: Provision for credit losses
—
—
—
—
2,000
Less: Net income (loss) attributable to non-controlling interests
22
43
(46)
(35)
(23)
Pre-provision net revenue
$
200,763
$
227,680
$
199,702
$
228,544
$
178,608
16
BOK Financial Corporation Quarterly Earnings Release
Exhibit 99.1(b)
Three Months Ended
(In thousands, except ratio and per share data)
Sep 30, 2026
June 30, 2026
Mar. 31, 2026
Dec. 31, 2025
Sep. 30, 2025
Information on net interest income and net interest margin excluding trading activities:
Net interest income
$
369,975
$
351,830
$
342,554
$
345,281
$
337,646
Less: Trading activities net interest income
21,337
18,283
15,366
13,211
14,325
Net interest income excluding trading activities
348,638
333,547
327,188
332,070
323,321
Add: Tax-equivalent adjustment
2,709
2,719
2,610
2,555
2,565
Tax-equivalent net interest income excluding trading activities
$
351,347
$
336,266
$
329,798
$
334,625
$
325,886
Average interest-earning assets
$
49,410,198
$
48,776,712
$
47,772,044
$
46,590,610
$
46,429,240
Less: Average trading activities interest-earning assets
5,908,204
5,876,732
5,617,531
5,295,598
5,603,200
Average interest-earning assets excluding trading activities
$
43,501,994
$
42,899,980
$
42,154,513
$
41,295,012
$
40,826,040
Net interest margin on average interest-earning assets
3.00
%
2.91
%
2.90
%
2.98
%
2.91
%
Net interest margin on average trading activities interest-earning assets
1.47
%
1.25
%
1.05
%
1.04
%
1.07
%
Net interest margin on average interest-earning assets excluding trading activities
3.21
%
3.13
%
3.15
%
3.22
%
3.16
%
Reconciliation of adjusted net income and earnings per share:
Net income attributable to BOK Financial Corporation shareholders
$
159,853
$
176,539
$
155,766
$
177,301
$
140,894
Impact of FDIC special assessment benefit, net of tax
—
—
—
(7,239)
(923)
Gain on exchange of Visa shares, net of tax
—
(23,604)
—
—
—
Loss on repositioning of available-for-sale securities portfolio, net of tax
—
3,547
—
—
—
Gain on sale of merchant banking investment, net of tax
—
—
—
(17,928)
—
Adjusted net income
$
159,853
$
156,482
$
155,766
$
152,134
$
139,971
Earnings per share
$
2.64
$
2.92
$
2.58
$
2.89
$
2.22
Impact of FDIC special assessment benefit, net of tax
—
—
—
(0.12)
(0.01)
Gain on exchange of Visa shares, net of tax
—
(0.39)
—
—
—
Loss on repositioning of available-for-sale securities portfolio, net of tax
—
0.06
—
—
—
Gain on sale of merchant banking investment, net of tax
—
—
—
(0.29)
—
Adjusted earnings per share
$
2.64
$
2.59
$
2.58
$
2.48
$
2.21
17
BOK Financial Corporation Quarterly Earnings Release
Exhibit 99.1(b)
Explanation of Non-GAAP Measures
The tangible common equity ratio and return on average tangible common equity are primarily based on total shareholders' equity, which includes unrealized gains and losses on available-for-sale securities, less intangible assets and equity that do not benefit common shareholders. These measures are valuable indicators of a financial institution's capital strength since they eliminate intangible assets from shareholders' equity and retain the effect of unrealized losses on securities and other components of accumulated other comprehensive income in shareholders' equity.
The efficiency ratio and adjusted efficiency ratio measure the company's ability to use its assets and manage its liabilities effectively in the current period.
Pre-provision net revenue is a measure of revenue less expenses and is calculated before provision for credit losses and income tax expense. This financial measure is frequently used by investors and analysts and enables them to assess a company's ability to generate earnings to cover credit losses through a credit cycle. It also provides an additional basis for comparing the results of operations between periods by isolating the impact of the provision for credit losses, which can vary significantly between periods.
Net interest income and net interest margin excluding trading activities removes the effect of trading activities on these metrics allowing management and investors to assess the performance of the company's core lending and deposit activities without the associated volatility from trading activities.
We believe adjusting net income and earnings per share for notable non-core items enhances comparability of results with prior periods, demonstrates the impact of significant items, and provides a useful measure for determining the company's expenses that are core to our business operations and are expected to recur over time.
18
BOK Financial Corporation Quarterly Earnings Release
Exhibit 99.1(b)
LOANS TREND – UNAUDITED
BOK FINANCIAL CORPORATION
(In thousands)
Sep 30, 2026
June 30, 2026
Mar. 31, 2026
Dec. 31, 2025
Sep. 30, 2025
Commercial:
Services
$
4,071,262
$
4,099,879
$
3,901,933
$
3,911,917
$
3,710,643
Healthcare
4,025,188
4,083,814
3,955,763
4,008,208
3,878,543
Energy
3,316,625
3,052,662
3,005,693
2,882,242
2,681,512
Mortgage finance
588,956
451,826
228,242
177,765
84,271
General business
4,653,214
4,609,267
4,481,452
4,300,935
4,157,971
Total commercial
16,655,245
16,297,448
15,573,083
15,281,067
14,512,940
Commercial real estate:
Multifamily
2,550,096
2,570,246
2,553,709
2,432,330
2,500,323
Industrial
1,448,975
1,283,315
1,418,626
1,368,436
1,396,795
Office
840,859
852,721
821,569
814,139
811,601
Retail
706,760
670,893
613,976
573,451
593,835
Residential construction and land development
112,124
111,668
109,480
129,783
122,033
Other commercial real estate
474,481
396,487
367,319
353,867
328,020
Total commercial real estate
6,133,295
5,885,330
5,884,679
5,672,006
5,752,607
Loans to individuals:
Residential mortgage
2,860,238
2,847,768
2,784,134
2,731,415
2,676,366
Residential mortgage guaranteed by U.S. government agencies
161,171
159,886
160,254
158,359
151,642
Personal
1,919,555
1,893,283
1,785,243
1,808,615
1,771,639
Total loans to individuals
4,940,964
4,900,937
4,729,631
4,698,389
4,599,647
Total loans
$
27,729,504
$
27,083,715
$
26,187,393
$
25,651,462
$
24,865,194
19
BOK Financial Corporation Quarterly Earnings Release
Exhibit 99.1(b)
LOANS MANAGED BY PRINCIPAL MARKET AREA – UNAUDITED
BOK FINANCIAL CORPORATION
(In thousands)
Sep 30, 2026
June 30, 2026
Mar. 31, 2026
Dec. 31, 2025
Sep. 30, 2025
Texas:
Commercial
$
7,661,864
$
7,628,676
$
7,489,036
$
7,383,319
$
6,800,577
Commercial real estate
2,212,490
2,063,517
2,149,123
2,057,016
2,107,335
Loans to individuals
1,086,029
1,090,244
1,077,386
1,066,827
1,037,831
Total Texas
10,960,383
10,782,437
10,715,545
10,507,162
9,945,743
Oklahoma:
Commercial
4,860,306
4,528,261
3,907,911
3,829,109
3,692,319
Commercial real estate
729,858
656,369
612,981
589,709
574,126
Loans to individuals
3,210,216
3,161,854
3,065,886
3,005,460
2,927,185
Total Oklahoma
8,800,380
8,346,484
7,586,778
7,424,278
7,193,630
Arizona:
Commercial
1,376,604
1,344,873
1,378,256
1,253,824
1,228,593
Commercial real estate
1,514,202
1,445,762
1,448,141
1,332,658
1,348,838
Loans to individuals
224,825
219,062
220,116
224,354
222,963
Total Arizona
3,115,631
3,009,697
3,046,513
2,810,836
2,800,394
Colorado:
Commercial
2,042,394
2,071,731
2,125,660
2,127,979
2,132,770
Commercial real estate
571,127
590,820
596,517
600,668
589,307
Loans to individuals
183,767
191,015
191,721
200,378
208,323
Total Colorado
2,797,288
2,853,566
2,913,898
2,929,025
2,930,400
Kansas/Missouri:
Commercial
343,240
337,120
291,075
282,189
270,068
Commercial real estate
517,797
529,988
537,709
571,331
618,052
Loans to individuals
182,004
182,925
117,617
142,392
142,408
Total Kansas/Missouri
1,043,041
1,050,033
946,401
995,912
1,030,528
New Mexico:
Commercial
305,757
310,768
308,712
311,636
282,479
Commercial real estate
527,230
538,269
484,623
465,228
458,720
Loans to individuals
46,242
47,787
48,099
49,589
51,056
Total New Mexico
879,229
896,824
841,434
826,453
792,255
Arkansas:
Commercial
65,080
76,019
72,433
93,011
106,134
Commercial real estate
60,591
60,605
55,585
55,396
56,229
Loans to individuals
7,881
8,050
8,806
9,389
9,881
Total Arkansas
133,552
144,674
136,824
157,796
172,244
Total BOK Financial
$
27,729,504
$
27,083,715
$
26,187,393
$
25,651,462
$
24,865,194
Loans attributed to a principal market may not always represent the location of the borrower or the collateral.
20
BOK Financial Corporation Quarterly Earnings Release
Exhibit 99.1(b)
DEPOSITS BY PRINCIPAL MARKET AREA – UNAUDITED
BOK FINANCIAL CORPORATION
(In thousands)
Sep 30, 2026
June 30, 2026
Mar. 31, 2026
Dec. 31, 2025
Sep. 30, 2025
Oklahoma:
Demand
$
3,527,086
$
3,482,203
$
3,463,094
$
3,492,243
$
3,520,203
Interest-bearing:
Transaction
13,079,586
13,623,048
13,629,679
13,732,961
13,352,070
Savings
563,986
563,466
561,079
532,284
520,995
Time
2,388,448
2,371,623
2,245,523
2,232,078
2,356,945
Total interest-bearing
16,032,020
16,558,137
16,436,281
16,497,323
16,230,010
Total Oklahoma
19,559,106
20,040,340
19,899,375
19,989,566
19,750,213
Texas:
Demand
2,209,001
2,178,864
2,071,766
2,177,256
2,194,177
Interest-bearing:
Transaction
7,653,569
7,167,229
6,447,755
6,691,395
6,427,135
Savings
146,584
148,701
153,501
149,593
147,560
Time
701,037
673,126
676,876
647,158
649,757
Total interest-bearing
8,501,190
7,989,056
7,278,132
7,488,146
7,224,452
Total Texas
10,710,191
10,167,920
9,349,898
9,665,402
9,418,629
Colorado:
Demand
862,461
977,110
881,440
1,152,203
929,383
Interest-bearing:
Transaction
1,998,927
2,210,988
2,072,825
2,137,579
2,204,899
Savings
58,749
56,735
58,605
54,809
53,768
Time
296,655
293,325
299,196
282,320
284,962
Total interest-bearing
2,354,331
2,561,048
2,430,626
2,474,708
2,543,629
Total Colorado
3,216,792
3,538,158
3,312,066
3,626,911
3,473,012
New Mexico:
Demand
612,267
599,831
580,900
580,400
591,330
Interest-bearing:
Transaction
1,393,257
1,596,275
1,447,506
1,405,940
1,376,694
Savings
101,591
102,306
99,848
95,630
94,180
Time
398,750
386,946
374,661
354,757
347,227
Total interest-bearing
1,893,598
2,085,527
1,922,015
1,856,327
1,818,101
Total New Mexico
2,505,865
2,685,358
2,502,915
2,436,727
2,409,431
Arizona:
Demand
364,041
351,429
398,102
365,007
368,432
Interest-bearing:
Transaction
1,330,817
1,369,657
1,439,796
1,450,416
1,406,300
Savings
9,835
9,787
11,593
14,656
13,571
Time
65,360
73,261
73,912
72,286
71,886
Total interest-bearing
1,406,012
1,452,705
1,525,301
1,537,358
1,491,757
Total Arizona
1,770,053
1,804,134
1,923,403
1,902,365
1,860,189
21
BOK Financial Corporation Quarterly Earnings Release
Exhibit 99.1(b)
(In thousands)
Sep 30, 2026
June 30, 2026
Mar. 31, 2026
Dec. 31, 2025
Sep. 30, 2025
Kansas/Missouri:
Demand
237,762
248,190
271,399
281,263
282,235
Interest-bearing:
Transaction
1,323,397
1,199,349
1,203,155
1,194,500
1,151,956
Savings
13,182
16,782
16,222
14,256
14,251
Time
30,436
35,686
38,542
37,820
37,563
Total interest-bearing
1,367,015
1,251,817
1,257,919
1,246,576
1,203,770
Total Kansas/Missouri
1,604,777
1,500,007
1,529,318
1,527,839
1,486,005
Arkansas:
Demand
26,923
24,034
27,628
33,558
21,416
Interest-bearing:
Transaction
112,809
75,872
111,487
237,279
64,174
Savings
2,545
2,703
2,859
2,695
2,411
Time
22,318
17,315
18,099
12,664
14,538
Total interest-bearing
137,672
95,890
132,445
252,638
81,123
Total Arkansas
164,595
119,924
160,073
286,196
102,539
Total BOK Financial
$
39,531,379
$
39,855,841
$
38,677,048
$
39,435,006
$
38,500,018
22
BOK Financial Corporation Quarterly Earnings Release
Exhibit 99.1(b)
NET INTEREST MARGIN TREND – UNAUDITED
BOK FINANCIAL CORPORATION
Three Months Ended
Sep 30, 2026
June 30, 2026
Mar. 31, 2026
Dec. 31, 2025
Sep. 30, 2025
Tax-equivalent asset yields
Interest-bearing cash and cash equivalents
3.64
%
3.65
%
3.60
%
3.85
%
4.39
%
Trading securities
5.15
%
4.85
%
4.64
%
4.83
%
5.25
%
Investment securities, net of allowance
1.29
%
1.38
%
1.41
%
1.41
%
1.41
%
Available-for-sale securities
4.11
%
3.98
%
3.93
%
3.94
%
3.93
%
Fair value option securities
3.82
%
4.51
%
4.83
%
4.83
%
5.45
%
Restricted equity securities
8.23
%
7.66
%
7.39
%
7.22
%
7.84
%
Residential mortgage loans held for sale
6.11
%
6.22
%
5.42
%
5.84
%
6.08
%
Loans
6.24
%
6.20
%
6.25
%
6.48
%
6.70
%
Allowance for loan losses
Loans, net of allowance
6.31
%
6.26
%
6.31
%
6.55
%
6.78
%
Total tax-equivalent yield on earning assets
5.37
%
5.27
%
5.23
%
5.36
%
5.53
%
Cost of interest-bearing liabilities:
Interest-bearing deposits:
Transaction
2.67
%
2.64
%
2.67
%
2.88
%
3.14
%
Savings
0.53
%
0.54
%
0.54
%
0.54
%
0.55
%
Time
3.40
%
3.41
%
3.53
%
3.64
%
3.73
%
Total interest-bearing deposits
2.70
%
2.67
%
2.71
%
2.91
%
3.14
%
Funds purchased and repurchase agreements
3.07
%
3.09
%
2.90
%
3.47
%
3.29
%
Other borrowings
3.90
%
3.88
%
3.90
%
4.22
%
4.54
%
Subordinated debt
6.23
%
6.25
%
6.14
%
6.12
%
—
%
Total cost of interest-bearing liabilities
2.96
%
2.93
%
2.92
%
3.06
%
3.33
%
Tax-equivalent net interest spread
2.41
%
2.34
%
2.31
%
2.30
%
2.20
%
Effect of noninterest-bearing funding sources and other
0.59
%
0.57
%
0.59
%
0.68
%
0.71
%
Tax-equivalent net interest margin
3.00
%
2.91
%
2.90
%
2.98
%
2.91
%
Yield calculations are shown on a tax-equivalent basis at the statutory federal and state rates for the periods presented. The yield calculations exclude security trades that have been recorded on trade date with no corresponding interest income and the unrealized gains and losses. The yield calculation also includes average loan balances for which the accrual of interest has been discontinued and are net of unearned income. Yield/rate calculations are generally based on the conventions that determine how interest income and expense is accrued.
23
BOK Financial Corporation Quarterly Earnings Release
Exhibit 99.1(b)
CREDIT QUALITY INDICATORS – UNAUDITED
BOK FINANCIAL CORPORATION
Three Months Ended
(In thousands, except ratios)
Sep 30, 2026
June 30, 2026
Mar. 31, 2026
Dec. 31, 2025
Sep. 30, 2025
Nonperforming assets:
Nonaccruing loans:
Commercial:
Healthcare
$
25,120
$
21,112
$
21,138
$
23,490
$
24,507
Services
2,857
2,928
1,260
6,135
7,647
Energy
—
—
—
—
31
General business
3,812
5,118
2,868
6,477
85
Total commercial
31,789
29,158
25,266
36,102
32,270
Commercial real estate
6,315
6,431
6,601
6,697
6,809
Loans to individuals:
Permanent mortgage
19,795
18,768
20,175
18,263
21,255
Permanent mortgage guaranteed by U.S. government agencies
8,193
7,585
7,768
8,586
7,348
Personal
185
200
194
4,712
4,712
Total loans to individuals
28,173
26,553
28,137
31,561
33,315
Total nonaccruing loans
66,277
62,142
60,004
74,360
72,394
Real estate and other repossessed assets
303
508
15
176
1,751
Total nonperforming assets
$
66,580
$
62,650
$
60,019
$
74,536
$
74,145
Total nonperforming assets excluding those guaranteed by U.S. government agencies
$
58,387
$
55,065
$
52,251
$
65,950
$
66,797
Accruing loans 90 days past due
1
$
—
$
6,242
$
2,411
$
—
$
1,135
Gross charge-offs
$
1,652
$
1,305
$
3,176
$
2,353
$
4,348
Recoveries
(766)
(805)
(1,303)
(907)
(721)
Net charge-offs (recoveries)
$
886
$
500
$
1,873
$
1,446
$
3,627
Provision for loan losses
$
(4,023)
$
255
$
3,732
$
(386)
$
4,270
Provision for credit losses from off-balance sheet unfunded loan commitments
4,122
142
(5,934)
487
(2,208)
Provision for expected credit losses from mortgage banking activities
(77)
(283)
2,213
(95)
(74)
Provision for credit losses related to investment (held-to-maturity) securities portfolio
(22)
(114)
(11)
(6)
12
Total provision for credit losses
$
—
$
—
$
—
$
—
$
2,000
1
Excludes residential mortgage loans guaranteed by agencies of the U.S. government.
24
BOK Financial Corporation Quarterly Earnings Release
Exhibit 99.1(b)
Three Months Ended
(In thousands, except ratios)
Sep 30, 2026
June 30, 2026
Mar. 31, 2026
Dec. 31, 2025
Sep. 30, 2025
Allowance for loan losses to period end loans
0.98
%
1.02
%
1.06
%
1.08
%
1.12
%
Combined allowance for loan losses and accrual for off-balance sheet credit risk from unfunded loan commitments to period end loans
1.16
%
1.19
%
1.23
%
1.28
%
1.32
%
Nonperforming assets to period end loans and repossessed assets
0.24
%
0.23
%
0.23
%
0.29
%
0.30
%
Net charge-offs (annualized) to average loans
0.01
%
0.01
%
0.03
%
0.02
%
0.06
%
Allowance for loan losses to nonaccruing loans
1
469.26
%
508.59
%
531.66
%
419.41
%
426.92
%
Combined allowance for loan losses and accrual for off-balance sheet credit risk from unfunded loan commitments to nonaccruing loans
1
554.66
%
591.96
%
618.45
%
497.36
%
504.99
%
1
Excludes residential mortgage loans guaranteed by agencies of the U.S. government.
25
BOK Financial Corporation Quarterly Earnings Release
Exhibit 99.1(b)
SEGMENTS – UNAUDITED
BOK FINANCIAL CORPORATION
Three Months Ended
3Q26 vs 2Q26
3Q26 vs 3Q25
(In thousands, except ratios)
Sep 30, 2026
June 30, 2026
Sep. 30, 2025
Change
% Change
Change
% Change
Commercial Banking:
Net interest income
$
181,883
$
178,992
$
179,473
$
2,891
1.6
%
$
2,410
1.3
%
Fees and commissions revenue
59,301
61,414
57,538
(2,113)
(3.4)
%
1,763
3.1
%
Combined net interest income and fee revenue
241,184
240,406
237,011
778
0.3
%
4,173
1.8
%
Other operating expense
83,581
82,091
82,360
1,490
1.8
%
1,221
1.5
%
Corporate allocations
17,347
16,586
17,934
761
4.6
%
(587)
(3.3)
%
Net income before taxes
140,712
146,160
138,316
(5,448)
(3.7)
%
2,396
1.7
%
Average assets
$
23,722,951
$
23,375,564
$
21,764,695
$
347,387
1.5
%
$
1,958,256
9.0
%
Average loans
22,357,163
22,003,116
20,322,138
354,047
1.6
%
2,035,025
10.0
%
Average deposits
19,080,487
18,918,188
18,161,486
162,299
0.9
%
919,001
5.1
%
Consumer Banking:
Net interest income
$
58,574
$
57,912
$
58,451
$
662
1.1
%
$
123
0.2
%
Fees and commissions revenue
37,210
37,847
38,071
(637)
(1.7)
%
(861)
(2.3)
%
Combined net interest income and fee revenue
95,784
95,759
96,522
25
—
%
(738)
(0.8)
%
Other operating expense
64,342
63,436
64,042
906
1.4
%
300
0.5
%
Corporate allocations
14,802
16,626
14,326
(1,824)
(11.0)
%
476
3.3
%
Net income before taxes
14,468
13,555
14,490
913
6.7
%
(22)
(0.2)
%
Average assets
$
8,687,730
$
8,648,052
$
8,372,125
$
39,678
0.5
%
$
315,605
3.8
%
Average loans
2,675,121
2,633,853
2,432,968
41,268
1.6
%
242,153
10.0
%
Average deposits
8,635,318
8,592,876
8,330,481
42,442
0.5
%
304,837
3.7
%
Wealth Management:
Net interest income
$
50,048
$
45,378
$
43,626
$
4,670
10.3
%
$
6,422
14.7
%
Fees and commissions revenue
91,100
101,081
111,516
(9,981)
(9.9)
%
(20,416)
(18.3)
%
Combined net interest income and fee revenue
141,148
146,459
155,142
(5,311)
(3.6)
%
(13,994)
(9.0)
%
Other operating expense
95,668
94,198
102,971
1,470
1.6
%
(7,303)
(7.1)
%
Corporate allocations
16,852
17,312
15,568
(460)
(2.7)
%
1,284
8.2
%
Net income before taxes
28,846
34,977
36,606
(6,131)
(17.5)
%
(7,760)
(21.2)
%
Average assets
$
11,397,662
$
11,219,080
$
11,265,485
$
178,582
1.6
%
$
132,177
1.2
%
Average loans
2,562,344
2,479,191
2,353,961
83,153
3.4
%
208,383
8.9
%
Average deposits
10,757,766
10,656,194
10,731,569
101,572
1.0
%
26,197
0.2
%
Fiduciary assets
78,125,091
78,944,144
73,862,296
(819,053)
(1.0)
%
4,262,795
5.8
%
Assets under management or administration
129,333,432
129,271,398
122,673,531
62,034
—
%
6,659,901
5.4
%
Certain prior period amounts have been reclassified to conform to current period presentation.
26