0000875357-26-000013
SEC filingBOK Financial Corporation reported strong financial performance for fiscal year 2025, with net income attributable to shareholders of $578.0 million and earnings per share of $9.00. The company generated $2.53 billion in total interest and dividend revenue, offset by $1.20 billion in interest expense, resulting in net interest income of $1.33 billion. Non-interest revenue contributed $848.1 million, primarily from fees and commissions of $800.7 million. Total assets stood at $52.24 billion, with loans net of allowance at $25.38 billion and total deposits of $39.44 billion. The company maintained solid capital with total shareholders' equity of $5.92 billion and generated $739.6 million in operating cash flow. Dividends declared per share were $2.00, and the company repurchased $413.2 million of common stock during the year.
BOK Financial Corporation delivered solid financial results for fiscal year 2025, reporting net income attributable to shareholders of $578.0 million. The company achieved earnings per share of $9.00 on both basic and diluted bases, with average shares outstanding of 62.6 million. Revenue performance was driven by $2.53 billion in total interest and dividend revenue, with loans contributing $1.63 billion and trading securities adding $295.9 million. Interest expense totaled $1.20 billion, primarily from deposits at $955.8 million and borrowed funds at $240.8 million, resulting in net interest income of $1.33 billion. Non-interest revenue contributed $848.1 million, led by fees and commissions of $800.7 million. The company maintained a provision for credit losses of only $2.0 million, reflecting strong credit quality.
The company's revenue streams were diversified across interest and non-interest sources. Interest revenue of $2.53 billion was generated from a balanced portfolio including loans ($1.63 billion), trading securities ($295.9 million), available for sale securities ($526.6 million), and other interest-bearing assets. Non-interest revenue of $848.1 million was primarily composed of fees and commissions ($800.7 million), supplemented by other gains ($43.8 million), derivatives gains ($12.3 million), and changes in fair value of mortgage servicing rights ($13.2 million). The revenue mix demonstrates the company's ability to generate income from both traditional banking activities and fee-based services.
Profitability metrics reflect efficient operations with net income before taxes of $740.6 million. Operating expenses totaled $1.43 billion, with personnel costs representing the largest component at $878.0 million. Other significant expenses included data processing and communications ($198.5 million), net occupancy and equipment ($131.4 million), and professional fees ($62.2 million). The company benefited from a FDIC special assessment credit of $10.7 million. Income taxes amounted to $162.6 million, resulting in an effective tax rate of approximately 22%. The company maintained disciplined expense management while investing in business operations.
The company generated strong operating cash flow of $739.6 million, driven by net income of $578.0 million and various adjustments including depreciation and amortization of $110.2 million and share-based compensation of $22.7 million. Investing activities used $1.52 billion primarily for purchases of available-for-sale securities ($2.83 billion) and loan originations ($1.49 billion), partially offset by proceeds from security maturities and sales. Financing activities provided $1.01 billion, mainly from deposit growth ($1.14 billion) and issuance of subordinated debentures ($396.6 million), offset by common stock repurchases ($413.2 million) and dividend payments ($147.5 million). The balance sheet shows total assets of $52.24 billion with strong liquidity including $1.66 billion in cash and cash equivalents. Total liabilities of $46.32 billion were primarily composed of deposits ($39.44 billion), while shareholders' equity stood at $5.92 billion.
The filing provides comprehensive financial data but does not include specific forward-looking guidance or management commentary on strategic priorities. The financial statements demonstrate the company's strong capital position with total equity of $5.92 billion and solid asset quality with allowance for loan losses of $275.9 million against total loans of $25.65 billion. The company's dividend declaration of $2.00 per share and share repurchase activity of $413.2 million indicate confidence in capital generation and commitment to shareholder returns. Continued focus on credit quality is evidenced by the minimal provision for credit losses of $2.0 million.