BOK FINANCIAL CORP
For the period ended Jun 30, 2024. Filed Jul 31, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Jul 31, 2024
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
(Mark One)
| ☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|
For the quarterly period ended June 30, 2024
OR
| ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|
For the transition period from _____________ to ______________
Commission File No.001-37811
BOK FINANCIAL CORP
(Exact name of registrant as specified in its charter)
| Oklahoma | 73-1373454 | ||
|---|---|---|---|
| (State or other jurisdictionof Incorporation or Organization) | (IRS EmployerIdentification No.) | ||
| Bank of Oklahoma Tower | |||
| Boston Avenue at Second Street | |||
| Tulsa, | Oklahoma | 74192 | |
| (Address of Principal Executive Offices) | (Zip Code) | ||
(918)588-6000
(Registrant’s telephone number, including area code)
| Securities registered pursuant to Section 12(b) of the Act: | ||
|---|---|---|
| Title of each class | Trading Symbol | Name of each exchange on which registered |
| Common Stock, par value $0.00006 per share | BOKF | Nasdaq Stock Market |
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ý No¨
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ý No¨
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer ý Accelerated filer¨
Non-accelerated filer¨ Smaller reporting company☐
Emerging growth company☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.¨
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ Noý
Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date:64,127,824 shares of common stock ($.00006 par value) as of June 30, 2024.
BOK Financial Corporation
Form 10-Q
Quarter Ended June 30, 2024
Index
| Glossary of Defined Terms | 1 |
|---|---|
| Part I. Financial Information | |
| Management's Discussion and Analysis (Item 2) | 2 |
| Market Risk (Item 3) | 39 |
| Controls and Procedures (Item 4) | 43 |
| Consolidated Financial Statements – Unaudited (Item 1) | 44 |
| Six-Month Financial Summary – Unaudited (Item 2) | 94 |
| Quarterly Financial Summary – Unaudited (Item 2) | 95 |
| Quarterly Earnings Trend – Unaudited | 98 |
| Part II. Other Information | |
| Item 1. Legal Proceedings | 99 |
| Item 1A. Risk Factors | 99 |
| Item 2. Unregistered Sales of Equity Securities and Use of Proceeds | 99 |
| Item 5. Other Information | 99 |
| Item 6. Exhibits | 100 |
| Signatures | 101 |
GLOSSARY OF DEFINED TERMS
The following items may be used throughout this report, including the consolidated financial statements and related notes.
| Term | Definition |
|---|---|
| AFS | Available For Sale |
| AOCI | Accumulated Other Comprehensive Income |
| ASU | Accounting Standards Update |
| ATM | Automated Teller Machine |
| Board | Board of Directors of BOK Financial Corporation |
| BOK Financial | BOK Financial Corporation |
| BOKF | BOK Financial Corporation |
| BOKF Insurance | BOK Financial Insurance, Inc. |
| BOKFI | BOK Financial Insurance, Inc. |
| CECL | Current Expected Credit Losses |
| Company | BOK Financial Corporation |
| EFT | Electronic Funds Transfer |
| FASB | Financial Accounting Standards Board |
| FDIC | Federal Deposit Insurance Corporation |
| GAAP | Generally Accepted Accounting Principles in the United States of America |
| GDP | Gross Domestic Product |
| GNMA | Government National Mortgage Association |
| MSR | Mortgage Servicing Rights |
| Nasdaq | National Association of Securities Dealers Automated Quotations |
| NYMEX | New York Mercantile Exchange |
| PPNR | Pre-Provision Net Revenue |
| RMHFS | Residential Mortgages Held for Sale |
| SEC | Securities and Exchange Commission |
| SOFR | Secured Overnight Financing Rate |
| SVaR | Stressed Value at Risk |
| TransFund | BOKF's electronic funds transfer network |
| USDC | United States District Court |
| VA | U.S. Department of Veterans Affairs |
| VaR | Value at Risk |
| WTI | West Texas Intermediate |
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