BOK Financial Corporation reported a net income of $155.8 million, or $2.58 per diluted share, for the first quarter of 2026, a decrease from $177.3 million, or $2.89 per diluted share, in the previous quarter. The first quarter's net income, when adjusted for a gain from the sale of a merchant banking investment and a special FDIC assessment benefit in the fourth quarter, reflects a slight increase from an adjusted net income of $152.1 million, or $2.48 per diluted share. Pre-Provision Net Revenue (PPNR) for the quarter was $199.7 million, down from $228.5 million in the fourth quarter of 2025.

The company's net interest income for the first quarter was $342.6 million, a decrease of $2.7 million from the prior quarter, with a net interest margin of 2.90%, down from 2.98%. Fees and commissions revenue totaled $209.8 million, a decline of $5.1 million primarily due to lower investment banking revenue attributed to seasonal factors. Operating expenses decreased by $6.9 million to $354.2 million, reflecting a focus on managing core costs, with personnel expenses down by $11.6 million.

BOK Financial's loan portfolio grew to $26.2 billion as of March 31, 2026, an increase of $536 million from the end of 2025, driven by broad-based growth in general business, energy, and multifamily commercial real estate loans. Average loan balances rose by $683 million to $25.9 billion. The company reported no provision for expected credit losses during the quarter, with net charge-offs of $1.9 million, or 0.03% of average loans. Nonperforming assets not guaranteed by U.S. government agencies decreased by $14 million to $52 million.

The company’s total deposits decreased by $758 million to $38.7 billion, with average deposits down by $1.0 billion. The loan-to-deposit ratio increased to 68% from 65% in the previous quarter. BOK Financial's tangible common equity ratio was 9.29% at the end of the first quarter, down from 9.46% at the end of 2025. The common equity Tier 1 capital ratio remained strong at 12.61%. Looking ahead, BOK Financial anticipates continued growth in its loan portfolio, although it remains cautious about potential economic headwinds and their impact on credit quality.

About BOK FINANCIAL CORP

BOK Financial Corporation is a financial holding company offering full-service banking, commercial lending, consumer banking, and wealth management across eight U.S. states, primarily in the Southwest. Its subsidiaries provide retail and institutional securities sales, mortgage banking, and investment advisory services. The company serves middle-market businesses, financial institutions, and consumers, emphasizing personalized service, local decision-making, and diversified revenue streams including energy financing and mortgage market liquidity.

This description was generated via AI from an annual report. Updated 8 months ago.

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