BOK Financial : BOKF Investor Presentation- May 2026
BOKF
Published on 05/11/2026 at 02:09 pm EDT
May 2026
Corporate Snapshot
Top 30 national/regional bank*
Midwest/Southwest franchise
115 full-service locations across 8 states
Seasoned management team
Proven ability to deliver organic growth
Consistent execution and strategy
Long-term focused
Key Statistics
as of March 31, 2026
ASSETS
$53.8 billion
LOANS
$26.2 billion
DEPOSITS
$38.7 billion
ASSETS UNDER MANAGEMENT OR ADMINISTRATION
$123.6 billion
CREDIT RATINGS
BOKF, NA BOK Financial Corp.
S&P
Fitch Ratings
A- (OS)
BBB+ (OS)
A (OS)
A (OS)
*Total assets as of 12/31/2025
BOK Financial Corporation
CONSUMER, COMMERCIAL & MORTGAGE BANKING
BOK Financial ®
Bank of Texas
Bank of Albuquerque Bank of Oklahoma
BOK Financial Mortgage
BROKER/DEALER &
INDEPENDENT ADVISORY SERVICES
BOK Financial Securities BOK Financial Advisors
TRANSACTION & PAYMENT PROCESSING
TransFundSM
WEALTH MANAGEMENT
BOK Financial Asset Management BOK Private Wealth
Cavanal Hill
BOK Financial Footprint
Additional Wealth Management offices
Banking and wealth management services provided by BOKF, NA.
Broker/dealer and investment advisory services provided by BOK Financial Securities, Inc.
3
Build a bank with diverse 12
revenues that can
BOKF CAGR = 8.0%
KRX CAGR = 4.6%
compete upstream and 10
outperform peers across 8
varying economic cycles.
6
Long-term EPS Growth vs. KRX Median*
"There is no principle more 4
emphasized in our organization
than managing for long-term 2
0
value rather than short-term results."
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
BOKF KRX Median
*Chart data based on Bloomberg EPS data for BOKF and KRX index members as of 2025. Chart data is indexed to 1 as of 1995.
Disciplined concentration management, diversified by sector & geography
Loan Segmentation Collateral Location
as of 3/31/2026 as of 3/31/2026
18%
22%
15%
34%
1%
11%
18%
15%
27%
3%
3%
7%
11%
15%
Energy Banking
More than 100-year history in energy lending
Focus on first-lien, senior-secured E&P lending, the "sweet spot" in energy lending
Seasoned internal petroleum engineering staff to confirm collateral values - a material investment that is a key to strong credit performance across the cycle
Minimal exposure to second liens, undeveloped reserves, or other higher-risk components of the capital stack
50-60% loan to value on proven producing reserves
Healthcare Banking
Favorable spreads
Predominately BOK Financial originated commitments
Senior housing commitments real-estate collateralized and secured
Favorable credit metrics
Portfolio Composition
as of 3/31/2026
15%
$3.0 billion
outstanding
5%
11%
$4.0 billion
outstanding
8%
78%
Commercial Real Estate
Collateral focused in Texas (34%), Colorado (8%), Arizona (9%), Oklahoma (5%), New
Mexico (6%) and Kansas/Missouri (3%)
Allocate 185% of Tier 1 capital plus reserves to CRE (ratio is currently 163%)
Further controls and limitations by product type and geography with concentration guidelines analyzed and adjusted quarterly, as needed
Strong relationship between the front-line production/bankers and credit concurrence officers
Minimal exposure to residential construction and land development (highest risk, most cyclical sector in CRE)
81%
14%
10%
24%
2%
$5.9 billion
outstanding
7
%
43%
Deposit Mix & Cost ($Million) Deposit Mix by Geography
9%
4%
5%
6%
51%
1%
24%
9% 9% 10%
2% 2% 2%
68%
9%
2%
67%
68%
62%
27%
22%
21%
20%
$45,000
$40,000
$35,000
$30,000
Deposit Mix by Line of Business
Total Deposit Breakdown
19%
28%
3%
$25,000
$20,000
$15,000
$10,000
$5,000
$-
IB Deposit
2.71%
3.11%
3.68%
Dec '23 Dec '24 Dec '25 Mar '26
MSA Branches Deposit Share
48%
Wealth
Commercial Deposit Breakdown
10%
6% 4%
Cost (%)
2.79%
Tulsa, OK 21 33 %
Dallas/Fort Worth/Metro, TX 20 1 %
19%
36%
Oklahoma City, OK 15 13 %
Denver/Metro, CO 13 3 %
Albuquerque, NM 12 13 %
Source: Company filings, S&P Global Market Intelligence
25%
Summary
35%-40% of total revenues come from a diverse set of well-established fee income businesses, a differentiator compared to other midsized regional banks
Markets & Securities
Consistently among the top dealers of mortgage backed securities
Robust municipal and advisory services
Strong mortgage originator and servicer
Asset Management & Transactions
$123.6 billion in assets under management or administration at March 31, 2026
8th largest corporate trustee bank ranked by number of trusteeships
Top 10 Electronic Funds Transfer processor in the United States through our TransFund business, which provides Debit and Credit Issuing Processing (EFT) for almost 500 Banks & Credit Unions throughout the U.S.
BOKF
Q1 2026 Fee Income % vs. KRX Index
-% 5% 10% 15% 20% 25% 30% 35% 40%
Wealth Management
Wealth Management Revenue
($Million)
Primary Lines of Business
Private Wealth / Asset Management - Banking and investment management, trust and estate administration, and Cavanal Hill family of funds
Institutional Wealth - Retirement plan services, financial planning, corporate trust, business transition services, institutional investment management, and asset custody
Hedging and Risk Management - Energy, commodities, FX, interest rate, and mortgage production hedging
Institutional Sales and Trading - Institutional investing, public and corporate finance, and reinsurance services
$700.0
$600.0
$500.0
$400.0
$300.0
$200.0
$100.0
2025
$-
CAGR: 6.8%
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
$604.7
Specialty Asset Management - Mineral management, real estate management, and advisor trust services
Wealth Management By The Numbers
Assets under management or administration ("AUMA"): $123.6 billion
Fiduciary assets: $74.4 billion
Average loans: $2.4 billion
Average deposits: $10.8 billion
More than $1 trillion in traded securities annually
Assets Under Management or Administration
($Billion)
CAGR: 5.6%
$140.0
$120.0
$100.0
$80.0
$60.0
$40.0
$20.0
Mar 2026
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
$-
$123.6
Wealth Management
Awards, Recognition, and Rankings
Retirement Plan Services recognized as a top five provider and recipient of six "Best in Class" awards in 2023
Eighth largest corporate trustee bank by number of trusteeships and fifth in paying agencies
Among the top bond underwriters and financial advisors in the United States and #1 in Texas
One of the top 25 firms that fulfills the hedging needs of the mortgage banking industry
Fifteen Lipper awards over the past 13 years for Cavanal Hill, our proprietary mutual fund family
Wealth Revenue by Line of Business
For the three months ended March 31, 2026
Cavanal Hill, 2%
Private
Wealth, 41%
BOK
Financial Securities, 36%
Institutional
Wealth, 21%
Institutional Wealth Private Wealth
Wealth AUMA by Line of Business
Cavanal Hill, 4%
Private
Wealth, 20%
BOK
Financial Securities, 23%
Institutional Wealth, 53%
As of March 31, 2026
Transaction Processing
Debit Processing & ATM Network
Operates nationally
More than 75% of clients are outside of Oklahoma
Clients: Banks, Credit Unions and C-store chains
830+ million EFT transactions processed in 2025
TransFund celebrated its 50th year as a BOK Financial line of business with record debit, processing, ATM and merchant sales in 2025
Merchant Payment Processing
Process payments for 10,000 merchant and cash advance locations
In 2025, processed $3.3 billion in merchant sales
Processing verticals include: Healthcare, Transportation, Governments, Public/Private Universities, and Retail
24 million merchant transactions processed in 2025
Transaction Processing Volume
as of 12/31/2025
EFT TRANSACTION VOLUMES
(Million)
CAGR: 4.3%
2025
2016
0 100 200 300 400 500 600 700 800 900
MERCHANT VOLUME
($Million)
CAGR: 3.8%
2025
2016
$- $1,000 $2,000 $3,000 $4,000
Net income was $155.8 million, or $2.58 per diluted share, compared to $177.3 million, or $2.89 per diluted share in the prior quarter. Excluding the gain recognized on the sale of a merchant banking investment and the FDIC special assessment benefit, net income would have been $152.1 million, or $2.48 per diluted share, in the fourth quarter of 2025*
Net interest margin declined 8 basis points to 2.90% and core net interest margin, excluding trading, declined 7 basis points to 3.15%*
Period end loans grew $536 million, or 2.1% sequentially to $26.2 billion with strong growth throughout our Commercial and Commercial Real Estate portfolios. Period end loans grew $2.5 billion
Net Income
$155.8
$140.0
$140.9
$119.8
$1.86
$2.22
$2.19
$2.58
$2.89
$177.3
or 10.5% compared to the first quarter of 2025
1Q25 2Q25 3Q25 4Q25 1Q26
Revenue Composition
Net charge-offs were 3 basis points of average loans on an annualized basis in the first quarter
Continued strong capital and liquidity position with TCE at 9.3% and a loan to deposit ratio of 68%
($Million, exc. EPS)
Q1 2026
Q4 2025
Q1 2025
Net income
$155.8
$177.3
$119.8
Diluted EPS
$2.58
$2.89
$1.86
Net income before taxes
$199.7
$228.5
$154.8
Provision for credit losses
$0.0
$0.0
$0.0
Pre-provision net revenue*
$199.7
$228.5
$154.8
Efficiency ratio*
* Non-GAAP measure
63.2%
60.7%
68.3%
as of 3/31/2026
12%
6%
6%
4%
2%
62%
8%
Deposit Service Charges Mortgage Banking
Other Revenue
12
Period End Loans $26.2 2.1% 10.5%
($Billion) Q1 2026 Quarterly Sequential
Quarterly YOY
Period end loan balances increased $536 million, led by strong growth in our Arizona, Texas, and Oklahoma markets with broad-based growth in our Commercial and Commercial Real Estate portfolios. Average
Average Loans $25.9 2.7% 7.7%
Average Deposits $39.0 (2.5)% 1.6%
Assets Under Management or $123.6 (2.4)% 8.5% Administration
loan balances grew $683 million
Fiduciary Assets $74.4 (3.4)% 9.2%
Period End Deposits $38.7 (1.9)% 1.0%
Average deposits declined $1.0 billion in Q1. Opportunistically acquired wholesale deposits in the prior quarter were replaced with wholesale borrowings during the first quarter
The loan to deposit ratio increased to 68% at March 31 from 65% at December 31, but continues to be well below the pre-pandemic level of 79% at Dec. 31, 2019
Assets under management or administration decreased $3.0 billion to
$123.6 billion, driven by lower market valuations and normal seasonal distributions
($Million)
Mar. 31, 2026
Dec. 31, 2025
Mar. 31, 2025
Seq. Loan
Growth
YOY Loan
Growth
Energy
$ 3,005.7
$ 2,882.2
$ 2,860.3
4.3%
5.1%
Services
3,901.9
3,911.9
3,704.8
(0.3)%
5.3%
Healthcare
3,955.8
4,008.2
3,789.4
(1.3)%
4.4%
Mortgage Finance
228.2
177.8
-
28.4%
N/A
General Business
4,481.5
4,300.9
4,048.8
4.2%
10.7%
Total Commercial
$
15,573.1
$
15,281.1
$
14,403.4
1.9%
8.1%
Multifamily
$ 2,553.7
$ 2,432.3
$ 2,336.3
5.0%
9.3%
Industrial
1,418.6
1,368.4
1,163.1
3.7%
22.0%
Office
821.6
814.1
704.7
0.9%
16.6%
Retail
614.0
573.5
497.6
7.1%
23.4%
Residential Construction and Land Development
109.5
129.8
105.2
(15.6)%
4.1%
Other Commercial Real Estate
367.3
353.9
356.7
3.8%
3.0%
Total Commercial loans grew $292 million or 1.9% sequentially
Combined Services & General Business (Core C&I) balances increased $171 million or 2.1% linked quarter
Energy balances increased $123 million or 4.3%, reflecting continued reversal of the elevated payoff activity experienced in 2025
Healthcare balances decreased $52 million or 1.3% linked quarter, reflecting cyclical payoff activity
Total Commercial Real Estate
$ 5,884.7 $ 5,672.0 $ 5,163.5
3.7%
14.0%
Loans to Individuals
$ 4,729.6 $ 4,698.4 $ 4,123.5
0.7%
14.7%
Total Loans
$ 26,187.4 $ 25,651.5 $ 23,690.5
2.1%
10.5%
Commercial Real Estate loan balances increased $213 million or 3.7% linked quarter, led by growth in multifamily, industrial, and retail
Credit quality continues to be strong with nonperforming assets, excluding loans guaranteed by U.S. government agencies, totaling $52 million or 0.20% of outstanding loans and repossessed assets
Trailing 12 months net charge-offs at 3 bps with net charge-offs of $1.9 million during Q1
No provision for credit losses was necessary for the quarter as the favorable impact of higher projected oil prices in our energy portfolio and improved credit quality was offset by loan growth and a slight downward revision to economic forecast assumptions
Combined allowance for credit losses of $323 million or 1.23% at quarter end
Committed Criticized Assets / Tier 1 Capital & Reserves
19.1%
18.0%
10.1%
10.3%
11.3%
12.1%
11.0%
30.0%
20.0%
10.0%
-%
4Q18 4Q19 1Q25 2Q25 3Q25 4Q25 1Q26
Net Charge-Offs to Average Loans
Annualized
0.06%
0.02%
0.01%
0.02%
0.03%
0.20%
0.10%
0.00%
1Q25 2Q25 3Q25 4Q25 1Q26
NPA (ex Govt. Guaranteed) as % of Total Loans
1.75%
1.50%
1.25%
1.00%
0.75%
0.50%
0.25%
1Q26
4Q25
3Q25
2Q25
1Q25
4Q24
3Q24
2Q24
1Q24
4Q23
3Q23
2Q23
1Q23
4Q22
3Q22
2Q22
1Q22
4Q21
3Q21
2Q21
1Q21
4Q20
3Q20
2Q20
1Q20
-%
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
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.
Net Interest Income
Net interest income declined $2.7 million linked quarter, driven by seasonal declines in DDA balances,
Net Interest Income $342.6 $345.3 $316.3 (0.8)% 8.3%
($Million) Q1 2026 Q4 2025 Q1 2025 Quarterly Sequential
Quarterly YOY
shorter day count in the first quarter, and the funding of temporary margin posted on behalf of our energy customers. Core net interest income, excluding trading,
Net Interest Margin 2.90% 2.98% 2.78% (8) bps 12 bps
Yield on Loans 6.25% 6.48% 6.71% (23) bps (46) bps
decreased $4.8 million*
Net Interest Margin
8 basis point NIM decrease with core net interest margin, excluding trading,* declining 7 basis points
Net Interest Margin
3.05%
3.12%
3.16%
3.22%
3.15%
2.78%
2.80%
2.91%
2.98%
2.90%
4.00%
3.50%
3.00%
2.50%
Tax-equivalent Yield on
Cost of Interest-bearing
Deposits
2.71%
2.91%
3.24%
(20) bps
(53) bps
Earning Assets
Rate on Interest-bearing Liabilities
Net Interest Income
($Million)
$15.2
$16.1
$14.3
$13.2
$15.4
$301.1
$312.0
$323.3
$332.1
$327.2
$400
$300
$200
$100
5.23% 5.36% 5.45% (13) bps (22) bps
2.92% 3.06% 3.42% (14) bps (50) bps
1Q25 2Q25 3Q25 4Q25 1Q26
$0
1Q25 2Q25 3Q25 4Q25 1Q26
Trading Fees
Trading fee income decreased $1.6 million reflecting continued mix shift in total trading revenue from Trading fees to Trading NII*
Investment Banking Fees
Investment banking revenue, which includes investment banking fees and syndication fees, decreased $4.1 million, largely affected by seasonality
Mortgage Production Revenue
($Million) Q1 2026 Qtr. Seq.
Trading Fees
$ 19.3
$ (1.6)
(7.8)%
138.2%
Mortgage Servicing
17.0
-
(0.1)%
(0.9)%
Mortgage Production
3.9
2.0
100.0%
49.3%
Customer Hedging Fees
7.8
1.1
17.1%
(6.8)%
Brokerage Fees
6.3
0.9
16.0%
27.3%
Syndication Fees
4.5
(2.0)
(30.8)%
40.3%
Investment Banking Fees
5.7
(2.1)
(27.0)%
(11.5)%
Markets & Securities
$ 64.6
(1.8)
(2.6)%
26.9%
$ Change
Total Trading Revenue
Qtr. Seq.
% Change
Qtr. YOY
% Change
A
Mortgage production revenue increased $2.0 million related to increased production volumes and refinance activity
B
A
Total Trading Revenue $ 34.7 $ 34.1 $ 29.8 $ 30.5 $ 23.3
A
Trading Fees $ 19.3 $ 20.9 $ 15.5 $ 14.4 $ 8.1
($Million) Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025
Trading NII* 15.4 13.2 14.3 16.1 15.2
B
+
Fiduciary and asset management revenue decreased $1.9 million, primarily from higher transaction-
($Million) Q1 2026 Qtr. Seq.
1
Markets & Securities $ 64.6 $ (1.8) (2.6)% 26.9%
$ Change
Qtr. Seq.
% Change
Qtr. YOY
% Change
related fees recognized in the prior quarter
Assets under management or administration decreased $3.0 billion during the quarter driven by lower market valuations and normal seasonal distributions
Transaction card revenue grew to
$32.0 million this quarter, marking another record quarter
Fiduciary & Asset Management 66.5 (1.9) (2.7)% 9.0%
Transaction Card 32.0 0.4 1.3% 18.0%
Deposit Service Charges & Fees 32.2 0.2 0.6% 6.4%
Other Revenue 14.5 (2.0) (12.3)% (2.3)%
2
Asset Management & Transactions 145.2 (3.3) (2.2)% 9.0%
Total Fees & Commissions $ 209.8 $ (5.1) (2.4)% 13.9%
2
1
+
($Million)
Q1 2026
Q4 2025
Q1 2025
Quarterly
Sequential
Quarterly
YOY
Total Personnel Expense
$211.2
$222.7
$214.2
(5.2)%
(1.4)%
Memo: Deferred compensation**
0.2
2.4
(0.7)
N/A
N/A
Total Personnel Expense
(Excluding Deferred Compensation)
$211.0
$220.3
$214.9
(4.2)%
(1.8)%
Non-Personnel Expense
$143.0
$138.3
$133.3
3.4%
7.2%
Total Operating Expense
$354.2
$361.1
$347.5
(1.9)%
1.9%
Efficiency Ratio*
63.2%
60.7%
68.3%
Adjusted Efficiency Ratio*
63.2%
64.9%
68.2%
Personnel expenses were down $11.6 million, primarily driven by lower incentive compensation costs
Cash-based incentive compensation decreased $7.0 million as the fourth quarter was elevated, primarily driven by strong results in both commercial and wealth production volumes
Regular compensation decreased $2.5 million, reflecting normalization of quarterly compensation expense as the majority of transitional personnel costs from talent base alignment were recognized in the prior quarter
Excluding the impact of the FDIC special assessment adjustment in the prior quarter, non-personnel expense decreased $4.8 million, primarily related to lower professional fees
**Other gains and losses, net includes deferred compensation losses of $1.8 million in Q1 2026, gains of $3.7 million in Q4 2025, and losses of $1.1 million in Q1 2025.
Disclaimer
BOK Financial Corporation published this content on May 11, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 11, 2026 at 18:08 UTC.