BOK Financial Corporation reported a net income of $140.9 million, or $2.22 per diluted share, for the third quarter of 2025, reflecting a slight increase from $140.0 million, or $2.19 per diluted share, in the previous quarter. The company's pre-provision net revenue (PPNR) for the quarter was $178.6 million, down from $180.7 million in the second quarter. Notably, net interest income rose to $337.6 million, an increase of $9.5 million from the prior quarter, with the net interest margin expanding by 11 basis points to 2.91%. Fees and commissions revenue also saw growth, totaling $204.4 million, up $7.1 million, primarily driven by increased investment banking activity.
In terms of operational metrics, BOK Financial's outstanding loan balances reached $24.9 billion at the end of September 2025, marking a $573 million increase from June 30, 2025. Average loan balances also rose by $650 million to $24.8 billion. The provision for expected credit losses was $2.0 million, reflecting the impact of loan growth, while net charge-offs were reported at $3.6 million, or 0.06% of average loans on an annualized basis. The allowance for credit losses totaled $328 million, representing 1.32% of outstanding loans, slightly down from 1.36% in the previous quarter.
BOK Financial's total deposits increased by $254 million to $38.5 billion, with average deposits rising by $345 million. The loan-to-deposit ratio stood at 65%, up from 64% in the prior quarter. The company also reported assets under management or administration of $122.7 billion, an increase of $4.8 billion, attributed to improvements in equity markets and growth in customer relationships. The tangible common equity ratio improved to 10.06%, up from 9.63% in the previous quarter, while the common equity Tier 1 capital ratio was reported at 13.60%.
Strategically, BOK Financial repurchased 365,547 shares of common stock at an average price of $111.00 per share during the third quarter, continuing its share buyback program initiated in July 2025. The company also declared a cash dividend of $36.1 million, or $0.57 per share, during the quarter, with an increase in the quarterly cash dividend to $0.63 per share approved by the Board on October 28, 2025. Looking ahead, BOK Financial anticipates continued growth in its loan portfolio and a stable economic environment, although it remains vigilant regarding potential market fluctuations and regulatory changes that could impact its operations.
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.
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