BOK Financial Corporation reported a net income of $140.0 million, or $2.19 per diluted share, for the second quarter of 2025, marking an increase from $119.8 million, or $1.86 per diluted share, in the first quarter of 2025. The company's pre-provision net revenue (PPNR) also rose to $180.7 million, up from $154.8 million in the previous quarter. This growth was driven by a $11.9 million increase in net interest income, which totaled $328.2 million, and a net interest margin that expanded to 2.80%, compared to 2.78% in the prior quarter. Fees and commissions revenue increased by $13.2 million to $197.3 million, reflecting broad-based growth across various income lines.
In terms of operational metrics, BOK Financial's outstanding loan balances reached $24.3 billion at the end of June 2025, an increase of $602 million from March 31, 2025. This growth was primarily attributed to increases in commercial real estate loans and loans to individuals, although it was partially offset by a decrease in energy portfolio balances. The company reported no provision for expected credit losses for the quarter, as improvements in portfolio credit quality offset the impact of loan growth. The allowance for credit losses stood at $330 million, or 1.36% of outstanding loans, slightly down from 1.40% in the previous quarter.
BOK Financial's assets under management or administration totaled $117.9 billion, an increase of $3.9 billion compared to the previous quarter, driven by improvements in equity markets. The company also repurchased 663,298 shares of common stock at an average price of $93.99 per share during the second quarter, and the board approved a new share repurchase authorization of up to five million shares on July 29, 2025. The company paid a regular cash dividend of $36.3 million, or $0.57 per common share, during the quarter.
Looking ahead, BOK Financial's management expressed a cautious outlook, noting a modest improvement in the economic environment but also a heightened level of uncertainty. The company has adjusted its economic scenario weightings, increasing the downside scenario probability to 35% from 30% in the prior quarter. The management anticipates that future economic conditions, regulatory constraints, and competition could impact growth rates and profitability. The company remains focused on maintaining a strong capital position while navigating these challenges.
About BOK FINANCIAL CORP
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