☒
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ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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☐
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TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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OK
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73-1373454
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(State or other jurisdiction
of Incorporation or Organization)
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(IRS Employer
Identification No.)
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Bank of Oklahoma Tower
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Boston Avenue at Second Street
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Tulsa,
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OK
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74172
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(Address of Principal Executive Offices)
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(Zip Code)
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Item 1
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Item 1A
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Item 1B
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Item 2
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Item 3
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Item 4
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Item 5
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Item 6
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Item 7
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Item 7A
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Item 8
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Item 9
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Item 9A
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Item 9B
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Item 10
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Item 11
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Item 12
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Item 13
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Item 14
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Item 15
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Exhibit 10.8
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Lease Agreement between Williams Headquarters Building LLC and BOKF, NA dated July 1, 2019
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Exhibit 10.8.1
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First Amendment to Lease Agreement between Williams Headquarters Building LLC and BOKF, NA dated November 8, 2019
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Exhibit 21
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Subsidiaries of the Registrant
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Exhibit 23
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Consent of Independent Registered Public Accounting Firm
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Exhibit 31.1
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Chief Executive Officer Section 302 Certification
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Exhibit 31.2
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Chief Financial Officer Section 302 Certification
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Exhibit 32
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Section 906 Certifications
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•
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deterioration of BOK Financial's asset quality;
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•
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deterioration in general economic conditions, especially in BOK Financial's core markets;
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•
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inability to control BOK Financial's non-interest expenses;
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•
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inability to increase non-interest income;
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•
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inability to access capital;
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•
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decreases in net interest margins;
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•
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increases in competition;
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•
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a breach in the security of BOK Financial's systems and
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•
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adverse regulatory developments.
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•
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the monetary policies implemented by the Federal Reserve Board, including the discount rate on bank borrowings and changes in reserve requirements, which affect BOK Financial's ability to make loans and the interest rates we may charge;
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•
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changes in prevailing interest rates, due to the dependency of the subsidiary banks on interest income;
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•
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changes in depositor behavior;
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•
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open market operations in U.S. Government securities.
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First
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Second
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Third
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Fourth
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||||||||
2019:
|
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||||||||
Low
|
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$
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73.43
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$
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73.81
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$
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73.45
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$
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72.23
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High
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92.31
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|
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87.68
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|
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83.41
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|
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88.01
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||||
Cash dividends declared
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0.50
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0.50
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0.50
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0.51
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||||
2018:
|
|
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||||
Low
|
|
$
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90.62
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$
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93.00
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|
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$
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93.33
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$
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70.61
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High
|
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100.98
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|
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105.24
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|
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104.74
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|
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96.91
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||||
Cash dividends declared
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0.45
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|
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0.45
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0.50
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0.50
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Period Ending December 31,
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||||||||||||||||
Index
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2014
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2015
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2016
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2017
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2018
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2019
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||||||
BOK Financial Corporation
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100.00
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102.22
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|
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146.08
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|
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165.97
|
|
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134.44
|
|
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164.15
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NASDAQ Composite
|
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100.00
|
|
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106.96
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|
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116.45
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|
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150.96
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146.67
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200.49
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SNL U.S. Bank NASDAQ
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100.00
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107.95
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|
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149.68
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|
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157.58
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|
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132.82
|
|
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166.75
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KBW NASDAQ Bank Index
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100.00
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|
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100.49
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|
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129.14
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|
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153.15
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126.02
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|
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171.55
|
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*
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Graph assumes value of an investment in the Company's Common Stock for each index was $100 on December 31, 2014. Cash dividends on Common Stock are assumed to have been reinvested in BOK Financial Common Stock.
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Period
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Total Number of Shares Purchased 2
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Average Price Paid per Share
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Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs 1
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Maximum Number of Shares that May Yet Be Purchased Under the Plans
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|||||
October 1, 2019 to October 31, 2019
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25,000
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$
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76.94
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25,000
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4,388,287
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November 1, 2019 to November 30, 2019
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205,000
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$
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81.96
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205,000
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4,183,287
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December 1, 2019 to December 31, 2019
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50,000
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$
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82.38
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50,000
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4,133,287
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Total
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280,000
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280,000
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1
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On April 30, 2019, the Company's board of directors authorized the Company to repurchase up to five million shares of the Company's common stock. As of December 31, 2019, the Company had repurchased 866,713 shares under this plan. Future repurchases of the Company's common stock will vary based on market conditions, regulatory limitations and other factors.
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2
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The Company may repurchase shares from employees to cover the exercise price and taxes in connection with employee shared-based compensation.
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1
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Non-GAAP measure to net interchange charges for 2015-2017 between transaction card revenue and data processing and communications expense as a result of the revenue recognition standard implemented January 1, 2018. This measure has no effect on net income or earnings per share.
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2
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Includes nonaccruing loans, renegotiated loans and assets acquired in satisfaction of loans. Excludes loans past due 90 days or more and still accruing.
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3
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Excludes residential mortgage loans guaranteed by agencies of the U.S. government.
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4
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Includes allowance for loan losses and accrual for off-balance sheet credit risk.
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•
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Net interest revenue totaled $1.1 billion for 2019, up from $984.9 million for 2018. CoBiz added $158.5 million to net interest revenue in 2019 and $43.1 million to net interest revenue in 2018. Net interest margin was 3.11% for 2019 compared to 3.20% for 2018. Average earning assets were $36.4 billion for 2019, up $5.4 billion over 2018. The increase was largely due to acquired loans and the expansion of the available for sale securities portfolio as we repositioned the balance sheet for a lower rate environment.
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•
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Fees and commissions revenue was $702.2 million for 2019, an increase of $74.4 million compared to 2018. Brokerage and trading revenue increased $51.5 million due to increased trading in residential mortgage-backed securities. Mortgage banking revenue increased $9.8 million. Lower mortgage interest rates have increased both mortgage loan production and trading activities. Fiduciary and asset management revenue increased $7.7 million.
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•
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Other operating expense totaled $1.1 billion, a $103.6 million increase compared to 2018, including $84.0 million of costs related to CoBiz operations in 2019 and $29.7 million in 2018. Excluding CoBiz operating costs, personnel expense increased $49.3 million, primarily due to an increase in incentive compensation expense combined with annual merit increases. Non-personnel expense remained consistent with 2018.
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•
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Based on an evaluation of all credit factors, including specific impairment of two shared national credit energy loans where the Company is not the lead agent, changes in nonaccruing and potential problem loans and net charge-offs, the Company recorded a $44.0 million provision for credit losses in 2019. An $8.0 million provision for credit losses was recorded in 2018. Nonaccruing loans not guaranteed by U.S. government agencies increased $19 million compared to December 31, 2018. Potential problem loans decreased $55 million while other loans especially mentioned increased $28 million. Net charge-offs were $41 million or 0.19% of average loans for 2019, compared to net charge-offs of $33 million or 0.18% of average loans for 2018. At December 31, 2019, the combined allowance for credit losses totaled $212 million or 0.98% of outstanding loans and 1.06%, excluding loans from CoBiz measured at acquisition date fair value.
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•
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Period-end outstanding loan balances were $21.8 billion at December 31, 2019, a $94 million increase over the prior year. An increase in commercial loan balances of $396 million was largely offset by a decrease in commercial real estate loans of $331 million.
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•
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Period-end deposits totaled $27.6 billion at December 31, 2019, a $2.4 billion increase compared to December 31, 2018. Interest-bearing transaction deposits increased $3.2 billion, while demand deposit balances decreased $953 million.
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•
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Common equity Tier 1 capital ratio was 11.39% at December 31, 2019. In addition, the Tier 1 capital ratio was 11.39%, total capital ratio was 12.94% and leverage ratio was 8.40% at December 31, 2019. At December 31, 2018, the Tier 1 capital ratio was 10.92%, the total capital ratio was 12.50% and the leverage ratio was 8.96%.
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•
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The Company repurchased 1,572,322 shares at an average price of $82.35 per share during 2019 and 615,840 shares at an average price of $86.82 during 2018.
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•
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The Company paid cash dividends of $2.01 per common share during 2019 and $1.90 per common share in 2018.
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•
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Net interest revenue totaled $270.2 million for the fourth quarter of 2019, a decrease of $15.4 million compared to the fourth quarter of 2018. Net interest margin was 2.88% for the fourth quarter of 2019 and 3.40% for the fourth quarter of 2018. Net interest revenue decreased largely due to three 25 basis point decreases in the federal funds rate by the Federal Reserve during the second half of 2019.
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•
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Fees and commissions revenue totaled $179.4 million, up $19.3 million over the fourth quarter of 2018. Brokerage and trading revenue increased $15.7 million and mortgage banking revenue increased $3.5 million, both largely affected by lower mortgage interest rates.
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•
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Operating expenses in the fourth quarter totaled $288.8 million, an $18.7 million increase compared to the prior year. Personnel expense increased $13.4 million primarily due to higher incentive compensation expense. Non-personnel expenses increased $5.3 million, largely due to increased data processing and communications expense and mortgage banking costs.
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•
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Based on an evaluation of all credit factors, the Company recorded a $19 million provision for credit losses in the fourth quarter of 2019 and a $9 million provision for credit losses in the fourth quarter of 2018.
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Year Ended
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Year Ended
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||||||||||||||||||||
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December 31, 2019 / 2018
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December 31, 2018 / 2017
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||||||||||||||||||||
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Change Due To1
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Change Due To1
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||||||||||||||||
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Change
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Volume
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Yield /
Rate
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Change
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Volume
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Yield /
Rate |
||||||||||||
Tax-equivalent interest revenue:
|
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|
|
|
|
|
|
|
|
|
|
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||||||||||||
Interest-bearing cash and cash equivalents
|
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$
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(10,119
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)
|
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$
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(14,371
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)
|
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$
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4,252
|
|
|
$
|
205
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|
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$
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(11,155
|
)
|
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$
|
11,360
|
|
Trading securities
|
|
4,012
|
|
|
8,666
|
|
|
(4,654
|
)
|
|
40,311
|
|
|
37,008
|
|
|
3,303
|
|
||||||
Investment securities
|
|
(1,431
|
)
|
|
(2,597
|
)
|
|
1,166
|
|
|
(2,944
|
)
|
|
(2,504
|
)
|
|
(440
|
)
|
||||||
Available for sale securities
|
|
56,629
|
|
|
35,720
|
|
|
20,909
|
|
|
19,404
|
|
|
581
|
|
|
18,823
|
|
||||||
Fair value option securities
|
|
17,731
|
|
|
19,592
|
|
|
(1,861
|
)
|
|
(1,550
|
)
|
|
(3,541
|
)
|
|
1,991
|
|
||||||
Restricted equity securities
|
|
5,305
|
|
|
5,696
|
|
|
(391
|
)
|
|
3,065
|
|
|
1,880
|
|
|
1,185
|
|
||||||
Residential mortgage loans held for sale
|
|
(1,018
|
)
|
|
(535
|
)
|
|
(483
|
)
|
|
(583
|
)
|
|
(1,645
|
)
|
|
1,062
|
|
||||||
Loans
|
|
235,141
|
|
|
168,241
|
|
|
66,900
|
|
|
189,518
|
|
|
68,882
|
|
|
120,636
|
|
||||||
Total tax-equivalent interest revenue
|
|
306,250
|
|
|
220,412
|
|
|
85,838
|
|
|
247,426
|
|
|
89,506
|
|
|
157,920
|
|
||||||
Interest expense:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Transaction deposits
|
|
66,995
|
|
|
20,057
|
|
|
46,938
|
|
|
37,232
|
|
|
1,748
|
|
|
35,484
|
|
||||||
Savings deposits
|
|
238
|
|
|
66
|
|
|
172
|
|
|
80
|
|
|
35
|
|
|
45
|
|
||||||
Time deposits
|
|
12,788
|
|
|
1,302
|
|
|
11,486
|
|
|
4,402
|
|
|
(769
|
)
|
|
5,171
|
|
||||||
Funds purchased and repurchase agreements
|
|
43,796
|
|
|
28,392
|
|
|
15,404
|
|
|
8,351
|
|
|
2,369
|
|
|
5,982
|
|
||||||
Other borrowings
|
|
46,417
|
|
|
20,787
|
|
|
25,630
|
|
|
60,856
|
|
|
5,023
|
|
|
55,833
|
|
||||||
Subordinated debentures
|
|
5,286
|
|
|
5,398
|
|
|
(112
|
)
|
|
1,588
|
|
|
1,665
|
|
|
(77
|
)
|
||||||
Total interest expense
|
|
175,520
|
|
|
76,002
|
|
|
99,518
|
|
|
112,509
|
|
|
10,071
|
|
|
102,438
|
|
||||||
Tax-equivalent net interest revenue
|
|
130,730
|
|
|
144,410
|
|
|
(13,680
|
)
|
|
134,917
|
|
|
79,435
|
|
|
55,482
|
|
||||||
Change in tax-equivalent adjustment
|
|
2,718
|
|
|
|
|
|
|
(8,249
|
)
|
|
|
|
|
||||||||||
Net interest revenue
|
|
$
|
128,012
|
|
|
|
|
|
|
$
|
143,166
|
|
|
|
|
|
|
|
Three Months Ended
|
||||||||||
|
|
December 31, 2019 / 2018
|
||||||||||
|
|
|
|
Change Due To1
|
||||||||
|
|
Change
|
|
Volume
|
|
Yield /
Rate
|
||||||
Tax-equivalent interest revenue:
|
|
|
|
|
|
|
||||||
Interest-bearing cash and cash equivalents
|
|
$
|
(835
|
)
|
|
$
|
44
|
|
|
$
|
(879
|
)
|
Trading securities
|
|
(6,621
|
)
|
|
(2,589
|
)
|
|
(4,032
|
)
|
|||
Investment securities
|
|
(387
|
)
|
|
(626
|
)
|
|
239
|
|
|||
Available for sale securities
|
|
14,607
|
|
|
14,433
|
|
|
174
|
|
|||
Fair value option securities
|
|
6,910
|
|
|
8,988
|
|
|
(2,078
|
)
|
|||
Restricted equity securities
|
|
643
|
|
|
1,494
|
|
|
(851
|
)
|
|||
Residential mortgage loans held for sale
|
|
2
|
|
|
219
|
|
|
(217
|
)
|
|||
Loans
|
|
(10,396
|
)
|
|
8,261
|
|
|
(18,657
|
)
|
|||
Total tax-equivalent interest revenue
|
|
3,923
|
|
|
30,224
|
|
|
(26,301
|
)
|
|||
Interest expense:
|
|
|
|
|
|
|
||||||
Transaction deposits
|
|
13,554
|
|
|
6,560
|
|
|
6,994
|
|
|||
Savings deposits
|
|
6
|
|
|
7
|
|
|
(1
|
)
|
|||
Time deposits
|
|
2,661
|
|
|
444
|
|
|
2,217
|
|
|||
Funds purchased and repurchase agreements
|
|
12,077
|
|
|
10,731
|
|
|
1,346
|
|
|||
Other borrowings
|
|
(8,599
|
)
|
|
(652
|
)
|
|
(7,947
|
)
|
|||
Subordinated debentures
|
|
2
|
|
|
(9
|
)
|
|
11
|
|
|||
Total interest expense
|
|
19,701
|
|
|
17,081
|
|
|
2,620
|
|
|||
Tax-equivalent net interest revenue
|
|
(15,778
|
)
|
|
13,143
|
|
|
(28,921
|
)
|
|||
Change in tax-equivalent adjustment
|
|
(341
|
)
|
|
|
|
|
|||||
Net interest revenue
|
|
$
|
(15,437
|
)
|
|
|
|
|
|
Year Ended December 31,
|
||||||||||||||||||
|
2019
|
|
2018
|
|
2017
|
|
2016
|
|
2015
|
||||||||||
Brokerage and trading revenue
|
$
|
159,826
|
|
|
$
|
108,323
|
|
|
$
|
131,601
|
|
|
$
|
138,377
|
|
|
$
|
129,556
|
|
Transaction card revenue1
|
87,216
|
|
|
84,025
|
|
|
81,143
|
|
|
78,347
|
|
|
73,650
|
|
|||||
Fiduciary and asset management revenue
|
177,025
|
|
|
184,703
|
|
|
162,889
|
|
|
135,387
|
|
|
126,034
|
|
|||||
Deposit service charges and fees
|
112,485
|
|
|
112,153
|
|
|
112,079
|
|
|
111,589
|
|
|
109,592
|
|
|||||
Mortgage banking revenue
|
107,541
|
|
|
97,787
|
|
|
104,719
|
|
|
133,914
|
|
|
126,002
|
|
|||||
Other revenue
|
58,108
|
|
|
56,185
|
|
|
49,738
|
|
|
50,372
|
|
|
50,195
|
|
|||||
Total fees and commissions revenue
|
702,201
|
|
|
643,176
|
|
|
642,169
|
|
|
647,986
|
|
|
615,029
|
|
|||||
Other gains (losses), net
|
9,351
|
|
|
(2,265
|
)
|
|
11,434
|
|
|
4,687
|
|
|
5,390
|
|
|||||
Gain (loss) on derivatives, net
|
14,951
|
|
|
(422
|
)
|
|
779
|
|
|
(15,685
|
)
|
|
430
|
|
|||||
Gain (loss) on fair value option securities, net
|
15,787
|
|
|
(25,572
|
)
|
|
(2,733
|
)
|
|
(10,555
|
)
|
|
(3,684
|
)
|
|||||
Change in fair value of mortgage servicing rights
|
(53,517
|
)
|
|
4,668
|
|
|
172
|
|
|
(2,193
|
)
|
|
(4,853
|
)
|
|||||
Gain (loss) on available for sale securities, net
|
5,597
|
|
|
(2,801
|
)
|
|
4,428
|
|
|
11,675
|
|
|
12,058
|
|
|||||
Total other-than-temporary impairment
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(2,443
|
)
|
|||||
Portion of loss recognized in (reclassified from) other comprehensive income
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
624
|
|
|||||
Net impairment losses recognized in earnings
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(1,819
|
)
|
|||||
Total other operating revenue
|
$
|
694,370
|
|
|
$
|
616,784
|
|
|
$
|
656,249
|
|
|
$
|
635,915
|
|
|
$
|
622,551
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Non-GAAP Reconciliation:1
|
|
|
|
|
|
|
|
|
|
||||||||||
Transaction card revenue on income statement
|
87,216
|
|
|
84,025
|
|
|
119,988
|
|
|
116,452
|
|
|
109,579
|
|
|||||
Netting adjustment
|
—
|
|
|
—
|
|
|
(38,845
|
)
|
|
(38,105
|
)
|
|
(35,929
|
)
|
|||||
Transaction card revenue after netting adjustment
|
87,216
|
|
|
84,025
|
|
|
81,143
|
|
|
78,347
|
|
|
73,650
|
|
1
|
Non-GAAP measure to net interchange charges for 2015-2017 between transaction card revenue and data processing and communications expense as a result of the revenue recognition standard implemented January 1, 2018. This measure has no effect on net income or earnings per share.
|
|
Year Ended December 31,
|
|
|||||||||||||||||||||
|
2019
|
|
2018
|
|
|||||||||||||||||||
|
Balance
|
|
Revenue1
|
|
Margin2
|
|
Balance
|
|
Revenue1
|
|
Margin2
|
|
|||||||||||
Managed fiduciary assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Personal
|
$
|
10,441,048
|
|
|
$
|
97,527
|
|
|
0.93
|
%
|
|
$
|
8,115,503
|
|
|
$
|
92,633
|
|
|
1.14
|
%
|
|
|
Institutional
|
13,512,904
|
|
|
25,603
|
|
|
0.19
|
%
|
|
13,119,497
|
|
|
22,488
|
|
|
0.17
|
%
|
|
|||||
Total managed fiduciary assets
|
23,953,952
|
|
|
123,130
|
|
|
0.51
|
%
|
|
21,235,000
|
|
|
115,121
|
|
|
0.54
|
%
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Non-managed assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Fiduciary
|
28,398,183
|
|
|
52,480
|
|
|
0.18
|
%
|
|
23,606,339
|
|
|
67,460
|
|
|
0.22
|
%
|
3
|
|
||||
Non-fiduciary
|
14,250,586
|
|
|
1,415
|
|
|
0.01
|
%
|
|
15,964,854
|
|
|
2,122
|
|
|
0.01
|
%
|
|
|||||
Safekeeping and brokerage assets under administration
|
16,138,240
|
|
|
—
|
|
|
—
|
%
|
|
15,473,584
|
|
|
—
|
|
|
—
|
%
|
|
|||||
Total non-managed assets
|
58,787,009
|
|
|
53,895
|
|
|
0.09
|
%
|
|
55,044,777
|
|
|
69,582
|
|
|
0.10
|
%
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total assets under management or administration
|
$
|
82,740,961
|
|
|
$
|
177,025
|
|
|
0.21
|
%
|
|
$
|
76,279,777
|
|
|
$
|
184,703
|
|
|
0.22
|
%
|
3
|
|
1
|
Fiduciary and asset management revenue includes asset-based and other fees associated with the assets.
|
2
|
Revenue divided by period-end balance.
|
|
|
Year Ended
December 31,
|
||||||
|
|
2019
|
|
2018
|
||||
Beginning balance
|
|
$
|
76,279,777
|
|
|
$
|
81,827,797
|
|
Net inflows (outflows)
|
|
(257,531
|
)
|
|
(6,812,199
|
)
|
||
Change in assets from acquisitions
|
|
—
|
|
|
998,705
|
|
||
Net change in fair value
|
|
6,718,715
|
|
|
265,474
|
|
||
Ending balance
|
|
$
|
82,740,961
|
|
|
$
|
76,279,777
|
|
|
Year Ended December 31,
|
||||||||||||||||||
|
2019
|
|
2018
|
|
2017
|
|
2016
|
|
2015
|
||||||||||
Mortgage production revenue
|
$
|
42,720
|
|
|
$
|
31,690
|
|
|
$
|
38,498
|
|
|
$
|
69,628
|
|
|
$
|
69,587
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Mortgage loans funded for sale
|
$
|
2,973,291
|
|
|
$
|
2,587,297
|
|
|
$
|
3,286,873
|
|
|
$
|
6,117,417
|
|
|
$
|
6,372,956
|
|
Add: Current year end outstanding commitments
|
158,460
|
|
|
160,848
|
|
|
222,919
|
|
|
318,359
|
|
|
601,147
|
|
|||||
Less: Prior year end outstanding commitments
|
160,848
|
|
|
222,919
|
|
|
318,359
|
|
|
601,147
|
|
|
627,505
|
|
|||||
Total mortgage production volume
|
2,970,903
|
|
|
2,525,226
|
|
|
3,191,433
|
|
|
5,834,629
|
|
|
6,346,598
|
|
|||||
|
|
|
|
|
|
|
|
|
|
||||||||||
Gain on sale margin
|
1.44
|
%
|
|
1.25
|
%
|
|
1.21
|
%
|
|
1.19
|
%
|
|
1.10
|
%
|
|||||
Mortgage loan refinances to mortgage loans funded for sale
|
44
|
%
|
|
28
|
%
|
|
40
|
%
|
|
51
|
%
|
|
42
|
%
|
|||||
Primary mortgage interest rates:
|
|
|
|
|
|
|
|
|
|
||||||||||
Average
|
3.94
|
%
|
|
4.54
|
%
|
|
3.99
|
%
|
|
3.65
|
%
|
|
3.85
|
%
|
|||||
Period end
|
3.74
|
%
|
|
4.55
|
%
|
|
3.99
|
%
|
|
4.32
|
%
|
|
3.96
|
%
|
|||||
|
|
|
|
|
|
|
|
|
|
||||||||||
Mortgage servicing revenue
|
$
|
64,821
|
|
|
$
|
66,097
|
|
|
$
|
66,221
|
|
|
$
|
64,286
|
|
|
$
|
56,415
|
|
Average outstanding principal balance of mortgage loans serviced for others
|
21,257,462
|
|
|
21,891,749
|
|
|
22,055,002
|
|
|
20,837,897
|
|
|
17,920,557
|
|
|||||
|
|
|
|
|
|
|
|
|
|
||||||||||
Average mortgage servicing fee rates
|
0.30
|
%
|
|
0.30
|
%
|
|
0.30
|
%
|
|
0.31
|
%
|
|
0.31
|
%
|
|
Year Ended December 31,
|
||||||||||||||||||
|
2019
|
|
2018
|
|
2017
|
|
2016
|
|
2015
|
||||||||||
Gain (loss) on mortgage hedge derivative contracts, net
|
$
|
14,589
|
|
|
$
|
551
|
|
|
$
|
681
|
|
|
$
|
(15,696
|
)
|
|
$
|
634
|
|
Gain (loss) on fair value option securities, net
|
15,787
|
|
|
(25,572
|
)
|
|
(2,733
|
)
|
|
(10,555
|
)
|
|
(3,684
|
)
|
|||||
Gain (loss) on economic hedge of mortgage servicing rights
|
30,376
|
|
|
(25,021
|
)
|
|
(2,052
|
)
|
|
(26,251
|
)
|
|
(3,050
|
)
|
|||||
Gain (loss) on change in fair value of mortgage servicing rights
|
(53,517
|
)
|
|
4,668
|
|
|
172
|
|
|
(2,193
|
)
|
|
(4,853
|
)
|
|||||
Gain (loss) on changes in fair value of mortgage servicing rights, net of economic hedges included in other operating revenue
|
(23,141
|
)
|
|
(20,353
|
)
|
|
(1,880
|
)
|
|
(28,444
|
)
|
|
(7,903
|
)
|
|||||
Net interest revenue on fair value option securities1
|
5,214
|
|
|
4,798
|
|
|
8,435
|
|
|
4,356
|
|
|
8,001
|
|
|||||
Total economic benefit (cost) of changes in the fair value of mortgage servicing rights, net of economic hedges
|
$
|
(17,927
|
)
|
|
$
|
(15,555
|
)
|
|
$
|
6,555
|
|
|
$
|
(24,088
|
)
|
|
$
|
98
|
|
1
|
Actual interest earned on fair value option securities less internal transfer-priced cost of funds.
|
|
Year Ended December 31,
|
||||||||||||||||||
|
2019
|
|
2018
|
|
2017
|
|
2016
|
|
2015
|
||||||||||
Regular compensation
|
$
|
395,902
|
|
|
$
|
358,280
|
|
|
$
|
333,226
|
|
|
$
|
332,740
|
|
|
$
|
313,403
|
|
Incentive compensation:
|
|
|
|
|
|
|
|
|
|
||||||||||
Cash-based compensation
|
144,526
|
|
|
132,593
|
|
|
127,964
|
|
|
128,077
|
|
|
114,305
|
|
|||||
Share-based compensation
|
15,544
|
|
|
4,229
|
|
|
23,602
|
|
|
10,464
|
|
|
12,358
|
|
|||||
Deferred compensation
|
8,711
|
|
|
(1,076
|
)
|
|
4,091
|
|
|
1,687
|
|
|
361
|
|
|||||
Total incentive compensation
|
168,781
|
|
|
135,746
|
|
|
155,657
|
|
|
140,228
|
|
|
127,024
|
|
|||||
Employee benefits
|
95,882
|
|
|
89,105
|
|
|
84,525
|
|
|
80,151
|
|
|
74,871
|
|
|||||
Total personnel expense
|
660,565
|
|
|
583,131
|
|
|
573,408
|
|
|
553,119
|
|
|
515,298
|
|
|||||
Business promotion
|
35,662
|
|
|
30,523
|
|
|
28,877
|
|
|
26,582
|
|
|
27,851
|
|
|||||
Charitable contributions to BOKF Foundation
|
3,000
|
|
|
2,846
|
|
|
2,000
|
|
|
2,000
|
|
|
796
|
|
|||||
Professional fees and services
|
54,861
|
|
|
59,099
|
|
|
51,067
|
|
|
56,783
|
|
|
40,123
|
|
|||||
Net occupancy and equipment
|
110,275
|
|
|
97,981
|
|
|
86,477
|
|
|
80,024
|
|
|
76,016
|
|
|||||
Insurance
|
20,906
|
|
|
23,318
|
|
|
19,653
|
|
|
32,489
|
|
|
20,375
|
|
|||||
Data processing & communications1
|
124,983
|
|
|
114,796
|
|
|
108,125
|
|
|
93,736
|
|
|
86,454
|
|
|||||
Printing, postage and supplies
|
16,517
|
|
|
17,169
|
|
|
15,689
|
|
|
15,584
|
|
|
13,498
|
|
|||||
Net losses & operating expenses of repossessed assets
|
6,707
|
|
|
17,052
|
|
|
9,687
|
|
|
3,359
|
|
|
1,446
|
|
|||||
Amortization of intangible assets
|
20,618
|
|
|
9,620
|
|
|
6,779
|
|
|
6,862
|
|
|
4,359
|
|
|||||
Mortgage banking costs
|
50,685
|
|
|
46,298
|
|
|
52,856
|
|
|
61,387
|
|
|
38,813
|
|
|||||
Other expense
|
27,602
|
|
|
26,333
|
|
|
32,054
|
|
|
47,560
|
|
|
35,233
|
|
|||||
Total other operating expense
|
$
|
1,132,381
|
|
|
$
|
1,028,166
|
|
|
$
|
986,672
|
|
|
$
|
979,485
|
|
|
$
|
860,262
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Average number of employees (full-time equivalent)
|
5,155
|
|
|
4,993
|
|
|
4,900
|
|
|
4,872
|
|
|
4,797
|
|
|||||
|
|
|
|
|
|
|
|
|
|
||||||||||
Non-GAAP Reconciliation:1
|
|
|
|
|
|
|
|
|
|
||||||||||
Data processing and communications expense on income statement
|
124,983
|
|
|
114,796
|
|
|
146,970
|
|
|
131,841
|
|
|
122,383
|
|
|||||
Netting adjustment
|
—
|
|
|
—
|
|
|
(38,845
|
)
|
|
(38,105
|
)
|
|
(35,929
|
)
|
|||||
Data processing and communications expense after netting adjustment
|
124,983
|
|
|
114,796
|
|
|
108,125
|
|
|
93,736
|
|
|
86,454
|
|
1
|
Non-GAAP measure to net interchange charges for 2015-2017 between transaction card revenue and data processing and communications expense as a result of the revenue recognition standard implemented January 1, 2018. This measure has no effect on net income or earnings per share.
|
|
2019
|
||||||||||||||
|
First
|
|
Second
|
|
Third
|
|
Fourth
|
||||||||
Interest revenue
|
$
|
376,074
|
|
|
$
|
390,820
|
|
|
$
|
395,207
|
|
|
$
|
369,857
|
|
Interest expense
|
97,972
|
|
|
105,388
|
|
|
116,111
|
|
|
99,608
|
|
||||
Net interest revenue
|
278,102
|
|
|
285,432
|
|
|
279,096
|
|
|
270,249
|
|
||||
Provision for credit losses
|
8,000
|
|
|
5,000
|
|
|
12,000
|
|
|
19,000
|
|
||||
Net interest revenue after provision for credit losses
|
270,102
|
|
|
280,432
|
|
|
267,096
|
|
|
251,249
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Fees and commissions revenue
|
160,552
|
|
|
176,108
|
|
|
186,119
|
|
|
179,422
|
|
||||
Gain on financial instruments and other assets, net
|
17,384
|
|
|
25,512
|
|
|
12,924
|
|
|
(10,134
|
)
|
||||
Change in fair value of mortgage servicing rights
|
(20,666
|
)
|
|
(29,555
|
)
|
|
(12,593
|
)
|
|
9,297
|
|
||||
Other operating revenue
|
157,270
|
|
|
172,065
|
|
|
186,450
|
|
|
178,585
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Personnel expense
|
169,228
|
|
|
160,342
|
|
|
162,573
|
|
|
168,422
|
|
||||
Other non-personnel expense
|
117,929
|
|
|
116,795
|
|
|
116,719
|
|
|
120,373
|
|
||||
Total other operating expense
|
287,157
|
|
|
277,137
|
|
|
279,292
|
|
|
288,795
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Net income before taxes
|
140,215
|
|
|
175,360
|
|
|
174,254
|
|
|
141,039
|
|
||||
Federal and state income taxes
|
29,950
|
|
|
37,580
|
|
|
32,396
|
|
|
30,257
|
|
||||
Net income
|
110,265
|
|
|
137,780
|
|
|
141,858
|
|
|
110,782
|
|
||||
Net income (loss) attributable to non-controlling interests
|
(347
|
)
|
|
217
|
|
|
(373
|
)
|
|
430
|
|
||||
Net income attributable to shareholders of BOK Financial Corp. shareholders
|
$
|
110,612
|
|
|
$
|
137,563
|
|
|
$
|
142,231
|
|
|
$
|
110,352
|
|
|
|
|
|
|
|
|
|
||||||||
Earnings per share:
|
|
|
|
|
|
|
|
||||||||
Basic
|
$
|
1.54
|
|
|
$
|
1.93
|
|
|
$
|
2.00
|
|
|
$
|
1.56
|
|
Diluted
|
$
|
1.54
|
|
|
$
|
1.93
|
|
|
$
|
2.00
|
|
|
$
|
1.56
|
|
|
|
|
|
|
|
|
|
||||||||
Average shares:
|
|
|
|
|
|
|
|
||||||||
Basic
|
71,387,070
|
|
|
70,887,063
|
|
|
70,596,307
|
|
|
70,295,899
|
|
||||
Diluted
|
71,404,388
|
|
|
70,902,033
|
|
|
70,609,924
|
|
|
70,309,644
|
|
|
2018
|
||||||||||||||
|
First
|
|
Second
|
|
Third
|
|
Fourth
|
||||||||
Interest revenue
|
$
|
265,407
|
|
|
$
|
294,180
|
|
|
$
|
303,247
|
|
|
$
|
365,592
|
|
Interest expense
|
45,671
|
|
|
55,618
|
|
|
62,364
|
|
|
79,906
|
|
||||
Net interest revenue
|
219,736
|
|
|
238,562
|
|
|
240,883
|
|
|
285,686
|
|
||||
Provision for credit losses
|
(5,000
|
)
|
|
—
|
|
|
4,000
|
|
|
9,000
|
|
||||
Net interest revenue after provision for credit losses
|
224,736
|
|
|
238,562
|
|
|
236,883
|
|
|
276,686
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Fees and commissions revenue
|
159,614
|
|
|
157,258
|
|
|
166,197
|
|
|
160,107
|
|
||||
Gain (loss) on financial instruments and other assets, net
|
(24,831
|
)
|
|
(2,582
|
)
|
|
(4,228
|
)
|
|
581
|
|
||||
Change in fair value of mortgage servicing rights
|
21,206
|
|
|
1,723
|
|
|
5,972
|
|
|
(24,233
|
)
|
||||
Other operating revenue
|
155,989
|
|
|
156,399
|
|
|
167,941
|
|
|
136,455
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Personnel expense
|
139,947
|
|
|
138,947
|
|
|
143,531
|
|
|
160,706
|
|
||||
Other non-personnel expense
|
104,483
|
|
|
107,529
|
|
|
109,086
|
|
|
123,937
|
|
||||
Total other operating expense
|
244,430
|
|
|
246,476
|
|
|
252,617
|
|
|
284,643
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Net income before taxes
|
136,295
|
|
|
148,485
|
|
|
152,207
|
|
|
128,498
|
|
||||
Federal and state income taxes
|
30,948
|
|
|
33,330
|
|
|
34,662
|
|
|
20,121
|
|
||||
Net income
|
$
|
105,347
|
|
|
$
|
115,155
|
|
|
$
|
117,545
|
|
|
$
|
108,377
|
|
Net income (loss) attributable to non-controlling interests
|
(215
|
)
|
|
783
|
|
|
289
|
|
|
(79
|
)
|
||||
Net income attributable to shareholders of BOK Financial Corp. shareholders
|
$
|
105,562
|
|
|
$
|
114,372
|
|
|
117,256
|
|
|
108,456
|
|
||
|
|
|
|
|
|
|
|
||||||||
Earnings per share:
|
|
|
|
|
|
|
|
||||||||
Basic
|
$
|
1.61
|
|
|
$
|
1.75
|
|
|
$
|
1.79
|
|
|
$
|
1.50
|
|
Diluted
|
$
|
1.61
|
|
|
$
|
1.75
|
|
|
$
|
1.79
|
|
|
$
|
1.50
|
|
|
|
|
|
|
|
|
|
||||||||
Average shares:
|
|
|
|
|
|
|
|
||||||||
Basic
|
64,847,334
|
|
|
64,901,975
|
|
|
64,901,095
|
|
|
71,808,029
|
|
||||
Diluted
|
64,888,033
|
|
|
64,937,226
|
|
|
64,934,351
|
|
|
71,833,334
|
|
|
Year Ended December 31,
|
||||||||||
|
2019
|
|
2018
|
|
2017
|
||||||
Commercial Banking
|
$
|
374,806
|
|
|
$
|
333,515
|
|
|
$
|
267,797
|
|
Consumer Banking
|
56,606
|
|
|
25,399
|
|
|
15,573
|
|
|||
Wealth Management
|
95,331
|
|
|
86,027
|
|
|
59,849
|
|
|||
Subtotal
|
526,743
|
|
|
444,941
|
|
|
343,219
|
|
|||
Funds Management and other
|
(25,985
|
)
|
|
705
|
|
|
(8,575
|
)
|
|||
Total
|
$
|
500,758
|
|
|
$
|
445,646
|
|
|
$
|
334,644
|
|
|
Year Ended December 31,
|
||||||||||
|
2019
|
|
2018
|
|
2017
|
||||||
Net interest revenue from external sources
|
$
|
919,148
|
|
|
$
|
726,855
|
|
|
$
|
618,325
|
|
Net interest expense from internal sources
|
(242,907
|
)
|
|
(159,954
|
)
|
|
(92,055
|
)
|
|||
Total net interest revenue
|
676,241
|
|
|
566,901
|
|
|
526,270
|
|
|||
Net loans charged off
|
39,011
|
|
|
30,358
|
|
|
13,877
|
|
|||
Net interest revenue after net loans charged off
|
637,230
|
|
|
536,543
|
|
|
512,393
|
|
|||
|
|
|
|
|
|
||||||
Fees and commissions revenue1
|
168,667
|
|
|
161,949
|
|
|
163,107
|
|
|||
Other gains, net
|
1,745
|
|
|
752
|
|
|
7,192
|
|
|||
Other operating revenue
|
170,412
|
|
|
162,701
|
|
|
170,299
|
|
|||
|
|
|
|
|
|
||||||
Personnel expense
|
163,106
|
|
|
122,863
|
|
|
117,824
|
|
|||
Non-personnel expense1
|
89,353
|
|
|
79,232
|
|
|
79,864
|
|
|||
Other operating expense
|
252,459
|
|
|
202,095
|
|
|
197,688
|
|
|||
|
|
|
|
|
|
||||||
Net direct contribution
|
555,183
|
|
|
497,149
|
|
|
485,004
|
|
|||
Gain on financial instruments, net
|
106
|
|
|
26
|
|
|
52
|
|
|||
Gain (loss) on repossessed assets, net
|
331
|
|
|
(6,532
|
)
|
|
(2,681
|
)
|
|||
Corporate expense allocations
|
43,055
|
|
|
36,670
|
|
|
28,060
|
|
|||
Income before taxes
|
512,565
|
|
|
453,973
|
|
|
454,315
|
|
|||
Federal and state income taxes
|
137,759
|
|
|
120,458
|
|
|
186,518
|
|
|||
Net income
|
$
|
374,806
|
|
|
$
|
333,515
|
|
|
$
|
267,797
|
|
|
|
|
|
|
|
||||||
Average assets
|
$
|
22,807,589
|
|
|
$
|
18,432,035
|
|
|
$
|
17,766,027
|
|
Average loans
|
18,090,224
|
|
|
15,073,484
|
|
|
14,373,830
|
|
|||
Average deposits
|
10,319,677
|
|
|
8,517,137
|
|
|
8,725,920
|
|
|||
Average invested capital
|
2,218,013
|
|
|
1,561,623
|
|
|
1,338,468
|
|
1
|
Fees and commission revenue for 2017 has been adjusted on a comparable basis with 2019 and 2018 (Non-GAAP measure) to net interchange fees paid to issuing banks on card transactions processed by our TransFund merchant processing services for the twelve months ended December 31, 2017 as a result of the revenue recognition standard.
|
|
Year Ended December 31,
|
||||||||||
|
2019
|
|
2018
|
|
2017
|
||||||
Net interest revenue from external sources
|
$
|
99,679
|
|
|
$
|
83,231
|
|
|
$
|
84,286
|
|
Net interest revenue from internal sources
|
95,775
|
|
|
73,448
|
|
|
53,916
|
|
|||
Total net interest revenue
|
195,454
|
|
|
156,679
|
|
|
138,202
|
|
|||
Net loans charged off
|
6,271
|
|
|
5,143
|
|
|
4,786
|
|
|||
Net interest revenue after net loans charged off
|
189,183
|
|
|
151,536
|
|
|
133,416
|
|
|||
|
|
|
|
|
|
||||||
Fees and commissions revenue
|
187,996
|
|
|
178,174
|
|
|
185,030
|
|
|||
Other losses, net
|
(496
|
)
|
|
(51
|
)
|
|
(152
|
)
|
|||
Other operating revenue
|
187,500
|
|
|
178,123
|
|
|
184,878
|
|
|||
|
|
|
|
|
|
||||||
Personnel expense
|
96,518
|
|
|
96,234
|
|
|
100,695
|
|
|||
Other non-personnel expense
|
134,398
|
|
|
134,841
|
|
|
141,110
|
|
|||
Total other operating expense
|
230,916
|
|
|
231,075
|
|
|
241,805
|
|
|||
|
|
|
|
|
|
||||||
Net direct contribution
|
145,767
|
|
|
98,584
|
|
|
76,489
|
|
|||
Gain (loss) on financial instruments, net
|
30,375
|
|
|
(25,021
|
)
|
|
(2,052
|
)
|
|||
Change in fair value of mortgage servicing rights
|
(53,517
|
)
|
|
4,668
|
|
|
172
|
|
|||
Gain on repossessed assets, net
|
496
|
|
|
247
|
|
|
223
|
|
|||
Corporate expense allocations
|
47,169
|
|
|
44,398
|
|
|
49,344
|
|
|||
Net income before taxes
|
75,952
|
|
|
34,080
|
|
|
25,488
|
|
|||
Federal and state income taxes
|
19,346
|
|
|
8,681
|
|
|
9,915
|
|
|||
|
|
|
|
|
|
||||||
Net income
|
$
|
56,606
|
|
|
$
|
25,399
|
|
|
$
|
15,573
|
|
|
|
|
|
|
|
||||||
Average assets
|
$
|
9,301,341
|
|
|
$
|
8,303,263
|
|
|
$
|
8,544,117
|
|
Average loans
|
1,762,915
|
|
|
1,731,894
|
|
|
1,734,836
|
|
|||
Average deposits
|
6,876,676
|
|
|
6,560,145
|
|
|
6,610,134
|
|
|||
Average invested capital
|
294,923
|
|
|
292,791
|
|
|
295,026
|
|
|
Year Ended December 31,
|
||||||||||
|
2019
|
|
2018
|
|
2017
|
||||||
Net interest revenue from external sources
|
$
|
61,277
|
|
|
$
|
81,528
|
|
|
$
|
45,024
|
|
Net interest revenue from internal sources
|
38,815
|
|
|
31,480
|
|
|
38,344
|
|
|||
Total net interest revenue
|
100,092
|
|
|
113,008
|
|
|
83,368
|
|
|||
Net loans recovered
|
(308
|
)
|
|
(288
|
)
|
|
(696
|
)
|
|||
Net interest revenue after net loans recovered
|
100,400
|
|
|
113,296
|
|
|
84,064
|
|
|||
|
|
|
|
|
|
||||||
Fees and commissions revenue
|
341,333
|
|
|
296,465
|
|
|
301,485
|
|
|||
Other gains (losses), net
|
56
|
|
|
(96
|
)
|
|
(51
|
)
|
|||
Other operating revenue
|
341,389
|
|
|
296,369
|
|
|
301,434
|
|
|||
|
|
|
|
|
|
||||||
Personnel expense
|
201,368
|
|
|
184,144
|
|
|
183,727
|
|
|||
Other non-personnel expense
|
75,899
|
|
|
73,506
|
|
|
70,768
|
|
|||
Other operating expense
|
277,267
|
|
|
257,650
|
|
|
254,495
|
|
|||
|
|
|
|
|
|
||||||
Net direct contribution
|
164,522
|
|
|
152,015
|
|
|
131,003
|
|
|||
Gain on financial instruments, net
|
2
|
|
|
7
|
|
|
—
|
|
|||
Gain (loss) on repossessed assets, net
|
—
|
|
|
—
|
|
|
387
|
|
|||
Corporate expense allocations
|
36,239
|
|
|
35,920
|
|
|
32,693
|
|
|||
Net income before taxes
|
128,285
|
|
|
116,102
|
|
|
98,697
|
|
|||
Federal and state income tax
|
32,954
|
|
|
30,075
|
|
|
38,848
|
|
|||
|
|
|
|
|
|
||||||
Net income
|
$
|
95,331
|
|
|
$
|
86,027
|
|
|
$
|
59,849
|
|
|
|
|
|
|
|
||||||
Average assets
|
$
|
10,204,426
|
|
|
$
|
8,447,784
|
|
|
$
|
7,072,622
|
|
Average loans
|
1,609,464
|
|
|
1,423,126
|
|
|
1,314,441
|
|
|||
Average deposits
|
6,447,987
|
|
|
5,617,325
|
|
|
5,516,214
|
|
|||
Average invested capital
|
274,599
|
|
|
251,401
|
|
|
232,729
|
|
|
|
December 31,
|
||||||||||||||||||||||
|
|
2019
|
|
2018
|
|
2017
|
||||||||||||||||||
|
|
Amortized
Cost
|
|
Fair
Value
|
|
Amortized
Cost |
|
Fair
Value |
|
Amortized
Cost |
|
Fair
Value |
||||||||||||
Trading:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
U.S. government agency debentures
|
|
$
|
44,258
|
|
|
$
|
44,264
|
|
|
$
|
63,511
|
|
|
$
|
63,765
|
|
|
$
|
21,188
|
|
|
$
|
21,196
|
|
Residential agency mortgage-backed securities
|
|
1,502,358
|
|
|
1,504,651
|
|
|
1,781,618
|
|
|
1,791,584
|
|
|
393,190
|
|
|
392,673
|
|
||||||
Municipal and other tax-exempt securities
|
|
26,136
|
|
|
26,196
|
|
|
34,508
|
|
|
34,507
|
|
|
13,476
|
|
|
13,559
|
|
||||||
Asset-backed securities
|
|
14,105
|
|
|
14,084
|
|
|
41,971
|
|
|
42,656
|
|
|
23,911
|
|
|
23,885
|
|
||||||
Other debt securities
|
|
34,705
|
|
|
34,726
|
|
|
24,346
|
|
|
24,411
|
|
|
11,359
|
|
|
11,363
|
|
||||||
Total trading securities
|
|
$
|
1,621,562
|
|
|
$
|
1,623,921
|
|
|
$
|
1,945,954
|
|
|
$
|
1,956,923
|
|
|
$
|
463,124
|
|
|
$
|
462,676
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Investment:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Municipal and other tax-exempt
|
|
$
|
93,653
|
|
|
$
|
96,897
|
|
|
$
|
137,296
|
|
|
138,562
|
|
|
$
|
228,186
|
|
|
$
|
230,349
|
|
|
Residential agency mortgage-backed securities
|
|
10,676
|
|
|
11,164
|
|
|
12,612
|
|
|
12,770
|
|
|
15,891
|
|
|
16,242
|
|
||||||
Other debt securities
|
|
189,089
|
|
|
206,341
|
|
|
205,279
|
|
|
215,966
|
|
|
217,716
|
|
|
233,444
|
|
||||||
Total investment securities
|
|
$
|
293,418
|
|
|
$
|
314,402
|
|
|
$
|
355,187
|
|
|
$
|
367,298
|
|
|
$
|
461,793
|
|
|
$
|
480,035
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Available for sale:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
U.S. Treasury
|
|
$
|
1,598
|
|
|
$
|
1,600
|
|
|
$
|
496
|
|
|
$
|
493
|
|
|
$
|
1,000
|
|
|
$
|
1,000
|
|
Municipal and other tax-exempt
|
|
1,789
|
|
|
1,861
|
|
|
2,782
|
|
|
2,864
|
|
|
27,182
|
|
|
27,080
|
|
||||||
Mortgage-backed securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Residential agency
|
|
7,956,297
|
|
|
8,046,096
|
|
|
5,886,323
|
|
|
5,804,708
|
|
|
5,355,148
|
|
|
5,309,152
|
|
||||||
Residential non-agency
|
|
25,968
|
|
|
41,609
|
|
|
40,948
|
|
|
59,736
|
|
|
74,311
|
|
|
93,221
|
|
||||||
Commercial agency
|
|
3,145,342
|
|
|
3,178,005
|
|
|
2,986,297
|
|
|
2,953,889
|
|
|
2,858,885
|
|
|
2,834,961
|
|
||||||
Other debt securities
|
|
500
|
|
|
472
|
|
|
35,545
|
|
|
35,430
|
|
|
25,500
|
|
|
25,481
|
|
||||||
Perpetual preferred stock1
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
12,562
|
|
|
15,767
|
|
||||||
Equity securities and mutual funds1
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
14,487
|
|
|
14,916
|
|
||||||
Total available for sale securities
|
|
$
|
11,131,494
|
|
|
$
|
11,269,643
|
|
|
$
|
8,952,391
|
|
|
$
|
8,857,120
|
|
|
$
|
8,369,075
|
|
|
$
|
8,321,578
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Fair value option securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
U.S. Treasury
|
|
$
|
9,965
|
|
|
$
|
9,917
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Residential agency mortgage-backed securities
|
|
1,074,551
|
|
|
1,088,660
|
|
|
280,469
|
|
|
283,235
|
|
|
756,931
|
|
|
755,054
|
|
||||||
Total fair value option securities
|
|
$
|
1,084,516
|
|
|
$
|
1,098,577
|
|
|
$
|
280,469
|
|
|
$
|
283,235
|
|
|
$
|
756,931
|
|
|
$
|
755,054
|
|
1
|
As a result of the recent measurement accounting standard effective January 1, 2018, equity securities are no longer considered part of the available for sale portfolio and have been moved to other assets.
|
|
|
December 31,
|
||||||||||||||||||
|
|
2019
|
|
2018
|
|
2017
|
|
2016
|
|
2015
|
||||||||||
Commercial:
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Energy
|
|
$
|
3,973,377
|
|
|
$
|
3,590,333
|
|
|
$
|
2,930,156
|
|
|
$
|
2,497,868
|
|
|
$
|
3,097,328
|
|
Services
|
|
3,122,163
|
|
|
3,258,192
|
|
|
2,528,389
|
|
|
2,632,036
|
|
|
2,480,361
|
|
|||||
Healthcare
|
|
3,033,916
|
|
|
2,799,277
|
|
|
2,314,753
|
|
|
2,201,916
|
|
|
1,883,380
|
|
|||||
Wholesale/retail
|
|
1,760,866
|
|
|
1,621,158
|
|
|
1,471,256
|
|
|
1,576,818
|
|
|
1,418,024
|
|
|||||
Public finance
|
|
709,868
|
|
|
804,550
|
|
|
464,145
|
|
|
487,020
|
|
|
308,714
|
|
|||||
Manufacturing
|
|
665,449
|
|
|
730,521
|
|
|
496,774
|
|
|
514,975
|
|
|
556,729
|
|
|||||
Other commercial and industrial
|
|
766,011
|
|
|
832,047
|
|
|
528,502
|
|
|
480,191
|
|
|
507,995
|
|
|||||
Total commercial
|
|
14,031,650
|
|
|
13,636,078
|
|
|
10,733,975
|
|
|
10,390,824
|
|
|
10,252,531
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Commercial real estate:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Multifamily
|
|
1,265,562
|
|
|
1,288,065
|
|
|
980,017
|
|
|
903,272
|
|
|
751,085
|
|
|||||
Office
|
|
928,379
|
|
|
1,072,920
|
|
|
831,770
|
|
|
798,888
|
|
|
637,707
|
|
|||||
Industrial
|
|
856,117
|
|
|
778,106
|
|
|
573,014
|
|
|
871,749
|
|
|
563,169
|
|
|||||
Retail
|
|
775,521
|
|
|
919,082
|
|
|
691,532
|
|
|
761,888
|
|
|
796,499
|
|
|||||
Residential construction and land development
|
|
150,879
|
|
|
148,584
|
|
|
117,245
|
|
|
135,533
|
|
|
160,426
|
|
|||||
Other commercial real estate
|
|
457,325
|
|
|
558,056
|
|
|
286,409
|
|
|
337,716
|
|
|
350,147
|
|
|||||
Total commercial real estate
|
|
4,433,783
|
|
|
4,764,813
|
|
|
3,479,987
|
|
|
3,809,046
|
|
|
3,259,033
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Residential mortgage:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Permanent mortgage
|
|
1,057,321
|
|
|
1,122,610
|
|
|
1,043,435
|
|
|
1,006,820
|
|
|
945,336
|
|
|||||
Permanent mortgages guaranteed by U.S. government agencies
|
|
197,794
|
|
|
190,866
|
|
|
197,506
|
|
|
199,387
|
|
|
196,937
|
|
|||||
Home equity
|
|
829,057
|
|
|
916,557
|
|
|
732,745
|
|
|
743,625
|
|
|
734,620
|
|
|||||
Total residential mortgage
|
|
2,084,172
|
|
|
2,230,033
|
|
|
1,973,686
|
|
|
1,949,832
|
|
|
1,876,893
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Personal
|
|
1,201,382
|
|
|
1,025,806
|
|
|
965,776
|
|
|
839,958
|
|
|
552,697
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Total
|
|
$
|
21,750,987
|
|
|
$
|
21,656,730
|
|
|
$
|
17,153,424
|
|
|
$
|
16,989,660
|
|
|
$
|
15,941,154
|
|
|
Oklahoma
|
|
Texas
|
|
New Mexico
|
|
Arkansas
|
|
Colorado
|
|
Arizona
|
|
Kansas/Missouri
|
|
Other
|
|
Total
|
||||||||||||||||||
Energy
|
$
|
633,942
|
|
|
$
|
2,314,404
|
|
|
$
|
59,471
|
|
|
$
|
579
|
|
|
$
|
497,751
|
|
|
$
|
12
|
|
|
$
|
106,933
|
|
|
$
|
360,285
|
|
|
$
|
3,973,377
|
|
Services
|
606,021
|
|
|
700,916
|
|
|
172,878
|
|
|
13,173
|
|
|
578,835
|
|
|
448,573
|
|
|
253,823
|
|
|
347,944
|
|
|
3,122,163
|
|
|||||||||
Healthcare
|
246,485
|
|
|
424,041
|
|
|
121,940
|
|
|
78,488
|
|
|
310,580
|
|
|
274,064
|
|
|
271,802
|
|
|
1,306,516
|
|
|
3,033,916
|
|
|||||||||
Wholesale/retail
|
230,710
|
|
|
749,336
|
|
|
32,996
|
|
|
35,943
|
|
|
156,865
|
|
|
122,329
|
|
|
31,845
|
|
|
400,842
|
|
|
1,760,866
|
|
|||||||||
Public finance
|
62,743
|
|
|
161,792
|
|
|
37,247
|
|
|
—
|
|
|
167,790
|
|
|
82,667
|
|
|
—
|
|
|
197,629
|
|
|
709,868
|
|
|||||||||
Manufacturing
|
97,048
|
|
|
188,834
|
|
|
1,004
|
|
|
5,491
|
|
|
139,246
|
|
|
125,625
|
|
|
44,655
|
|
|
63,546
|
|
|
665,449
|
|
|||||||||
Other commercial and industrial
|
134,429
|
|
|
116,002
|
|
|
5,283
|
|
|
57,573
|
|
|
116,012
|
|
|
34,657
|
|
|
50,969
|
|
|
251,086
|
|
|
766,011
|
|
|||||||||
Total commercial loans
|
$
|
2,011,378
|
|
|
$
|
4,655,325
|
|
|
$
|
430,819
|
|
|
$
|
191,247
|
|
|
$
|
1,967,079
|
|
|
$
|
1,087,927
|
|
|
$
|
760,027
|
|
|
$
|
2,927,848
|
|
|
$
|
14,031,650
|
|
|
|
Oklahoma
|
|
Texas
|
|
New
Mexico |
|
Arkansas
|
|
Colorado
|
|
Arizona
|
|
Kansas/
Missouri |
|
Other
|
|
Total
|
||||||||||||||||||
Multifamily
|
|
$
|
162,329
|
|
|
$
|
391,904
|
|
|
$
|
32,618
|
|
|
$
|
55,808
|
|
|
$
|
48,022
|
|
|
$
|
169,681
|
|
|
$
|
145,852
|
|
|
$
|
259,348
|
|
|
$
|
1,265,562
|
|
Office
|
|
125,552
|
|
|
151,130
|
|
|
114,706
|
|
|
19,872
|
|
|
84,917
|
|
|
74,947
|
|
|
58,143
|
|
|
299,112
|
|
|
928,379
|
|
|||||||||
Industrial
|
|
118,153
|
|
|
192,751
|
|
|
19,613
|
|
|
76
|
|
|
80,749
|
|
|
45,752
|
|
|
36,122
|
|
|
362,901
|
|
|
856,117
|
|
|||||||||
Retail
|
|
60,538
|
|
|
248,985
|
|
|
147,921
|
|
|
5,252
|
|
|
88,703
|
|
|
45,403
|
|
|
13,507
|
|
|
165,212
|
|
|
775,521
|
|
|||||||||
Residential construction and land development
|
|
6,433
|
|
|
37,035
|
|
|
14,332
|
|
|
91
|
|
|
54,643
|
|
|
5,854
|
|
|
5,267
|
|
|
27,224
|
|
|
150,879
|
|
|||||||||
Other commercial real estate
|
|
44,104
|
|
|
36,462
|
|
|
9,219
|
|
|
2,198
|
|
|
111,792
|
|
|
68,031
|
|
|
34,075
|
|
|
151,444
|
|
|
457,325
|
|
|||||||||
Total commercial real estate loans
|
|
$
|
517,109
|
|
|
$
|
1,058,267
|
|
|
$
|
338,409
|
|
|
$
|
83,297
|
|
|
$
|
468,826
|
|
|
$
|
409,668
|
|
|
$
|
292,966
|
|
|
$
|
1,265,241
|
|
|
$
|
4,433,783
|
|
|
|
Revolving
|
|
Amortizing
|
|
Total
|
||||||
First lien
|
|
$
|
94,801
|
|
|
$
|
428,622
|
|
|
$
|
523,423
|
|
Junior lien
|
|
197,572
|
|
|
108,062
|
|
|
305,634
|
|
|||
Total home equity
|
|
$
|
292,373
|
|
|
$
|
536,684
|
|
|
$
|
829,057
|
|
|
|
Oklahoma
|
|
Texas
|
|
New
Mexico |
|
Arkansas
|
|
Colorado
|
|
Arizona
|
|
Kansas/
Missouri |
|
Other
|
|
Total
|
||||||||||||||||||
Residential mortgage:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Permanent mortgage
|
|
$
|
165,598
|
|
|
$
|
416,470
|
|
|
$
|
61,622
|
|
|
$
|
12,687
|
|
|
$
|
194,921
|
|
|
$
|
107,737
|
|
|
$
|
52,472
|
|
|
$
|
45,814
|
|
|
$
|
1,057,321
|
|
Permanent mortgages guaranteed by U.S. government agencies
|
|
53,119
|
|
|
31,445
|
|
|
30,318
|
|
|
9,939
|
|
|
6,211
|
|
|
801
|
|
|
18,238
|
|
|
47,723
|
|
|
197,794
|
|
|||||||||
Home equity
|
|
355,092
|
|
|
135,192
|
|
|
74,896
|
|
|
7,935
|
|
|
116,326
|
|
|
36,277
|
|
|
53,166
|
|
|
50,173
|
|
|
829,057
|
|
|||||||||
Total residential mortgage
|
|
$
|
573,809
|
|
|
$
|
583,107
|
|
|
$
|
166,836
|
|
|
$
|
30,561
|
|
|
$
|
317,458
|
|
|
$
|
144,815
|
|
|
$
|
123,876
|
|
|
$
|
143,710
|
|
|
$
|
2,084,172
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Personal
|
|
$
|
420,809
|
|
|
$
|
461,382
|
|
|
$
|
11,061
|
|
|
$
|
10,862
|
|
|
$
|
84,388
|
|
|
$
|
86,055
|
|
|
$
|
54,975
|
|
|
$
|
71,850
|
|
|
$
|
1,201,382
|
|
|
|
December 31,
|
||||||||||||||||||
|
|
2019
|
|
2018
|
|
2017
|
|
2016
|
|
2015
|
||||||||||
Texas:
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Commercial
|
|
$
|
6,174,894
|
|
|
$
|
5,438,133
|
|
|
$
|
4,520,401
|
|
|
$
|
4,022,455
|
|
|
$
|
3,908,425
|
|
Commercial real estate
|
|
1,259,117
|
|
|
1,341,783
|
|
|
1,261,864
|
|
|
1,415,011
|
|
|
1,204,202
|
|
|||||
Residential mortgage
|
|
268,282
|
|
|
266,805
|
|
|
233,675
|
|
|
233,981
|
|
|
219,126
|
|
|||||
Personal
|
|
458,893
|
|
|
394,743
|
|
|
375,084
|
|
|
306,748
|
|
|
203,496
|
|
|||||
Total Texas
|
|
8,161,186
|
|
|
7,441,464
|
|
|
6,391,024
|
|
|
5,978,195
|
|
|
5,535,249
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Oklahoma:
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Commercial
|
|
3,454,825
|
|
|
3,491,117
|
|
|
3,238,720
|
|
|
3,370,259
|
|
|
3,782,687
|
|
|||||
Commercial real estate
|
|
631,026
|
|
|
700,756
|
|
|
682,037
|
|
|
684,381
|
|
|
739,829
|
|
|||||
Residential mortgage
|
|
1,375,080
|
|
|
1,440,566
|
|
|
1,435,432
|
|
|
1,407,197
|
|
|
1,409,114
|
|
|||||
Personal
|
|
479,784
|
|
|
375,543
|
|
|
342,212
|
|
|
303,823
|
|
|
255,387
|
|
|||||
Total Oklahoma
|
|
5,940,715
|
|
|
6,007,982
|
|
|
5,698,401
|
|
|
5,765,660
|
|
|
6,187,017
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Colorado:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Commercial
|
|
2,169,598
|
|
|
2,275,069
|
|
|
1,130,714
|
|
|
1,018,208
|
|
|
987,076
|
|
|||||
Commercial real estate
|
|
927,826
|
|
|
963,575
|
|
|
174,201
|
|
|
265,264
|
|
|
223,946
|
|
|||||
Residential mortgage
|
|
196,326
|
|
|
251,849
|
|
|
63,350
|
|
|
59,631
|
|
|
53,782
|
|
|||||
Personal
|
|
80,613
|
|
|
72,916
|
|
|
63,115
|
|
|
50,372
|
|
|
23,384
|
|
|||||
Total Colorado
|
|
3,374,363
|
|
|
3,563,409
|
|
|
1,431,380
|
|
|
1,393,475
|
|
|
1,288,188
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Arizona:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Commercial
|
|
1,307,073
|
|
|
1,320,139
|
|
|
687,792
|
|
|
686,253
|
|
|
606,733
|
|
|||||
Commercial real estate
|
|
728,832
|
|
|
889,903
|
|
|
660,094
|
|
|
747,409
|
|
|
507,523
|
|
|||||
Residential mortgage
|
|
89,396
|
|
|
97,959
|
|
|
41,771
|
|
|
36,265
|
|
|
44,047
|
|
|||||
Personal
|
|
97,143
|
|
|
68,546
|
|
|
57,140
|
|
|
52,553
|
|
|
31,060
|
|
|||||
Total Arizona
|
|
2,222,444
|
|
|
2,376,547
|
|
|
1,446,797
|
|
|
1,522,480
|
|
|
1,189,363
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Kansas/Missouri:
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Commercial
|
|
527,872
|
|
|
659,793
|
|
|
717,408
|
|
|
807,816
|
|
|
499,412
|
|
|||||
Commercial real estate
|
|
322,541
|
|
|
343,228
|
|
|
273,116
|
|
|
338,762
|
|
|
200,791
|
|
|||||
Residential mortgage
|
|
66,771
|
|
|
77,971
|
|
|
94,844
|
|
|
97,685
|
|
|
22,148
|
|
|||||
Personal
|
|
64,298
|
|
|
91,441
|
|
|
106,512
|
|
|
108,455
|
|
|
26,994
|
|
|||||
Total Kansas/Missouri
|
|
981,482
|
|
|
1,172,433
|
|
|
1,191,880
|
|
|
1,352,718
|
|
|
749,345
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
New Mexico:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Commercial
|
|
305,320
|
|
|
340,489
|
|
|
343,296
|
|
|
399,256
|
|
|
375,839
|
|
|||||
Commercial real estate
|
|
402,148
|
|
|
383,670
|
|
|
341,282
|
|
|
284,603
|
|
|
313,422
|
|
|||||
Residential mortgage
|
|
80,325
|
|
|
87,346
|
|
|
98,018
|
|
|
108,058
|
|
|
120,507
|
|
|||||
Personal
|
|
9,932
|
|
|
10,662
|
|
|
11,721
|
|
|
11,483
|
|
|
11,557
|
|
|||||
Total New Mexico
|
|
797,725
|
|
|
822,167
|
|
|
794,317
|
|
|
803,400
|
|
|
821,325
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Arkansas:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Commercial
|
|
92,068
|
|
|
111,338
|
|
|
95,644
|
|
|
86,577
|
|
|
92,359
|
|
|||||
Commercial real estate
|
|
162,293
|
|
|
141,898
|
|
|
87,393
|
|
|
73,616
|
|
|
69,320
|
|
|||||
Residential mortgage
|
|
7,992
|
|
|
7,537
|
|
|
6,596
|
|
|
7,015
|
|
|
8,169
|
|
|||||
Personal
|
|
10,719
|
|
|
11,955
|
|
|
9,992
|
|
|
6,524
|
|
|
819
|
|
|||||
Total Arkansas
|
|
273,072
|
|
|
272,728
|
|
|
199,625
|
|
|
173,732
|
|
|
170,667
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Total BOK Financial loans
|
|
$
|
21,750,987
|
|
|
$
|
21,656,730
|
|
|
$
|
17,153,424
|
|
|
$
|
16,989,660
|
|
|
$
|
15,941,154
|
|
|
|
|
|
Remaining Maturities of Selected Loans
|
||||||||||||
|
|
Total
|
|
Within 1 Year
|
|
1-5 Years
|
|
After 5 Years
|
||||||||
Loan maturity:
|
|
|
|
|
|
|
|
|
||||||||
Commercial
|
|
$
|
14,031,650
|
|
|
$
|
824,474
|
|
|
$
|
7,789,765
|
|
|
$
|
5,417,411
|
|
Commercial real estate
|
|
4,433,783
|
|
|
536,146
|
|
|
2,556,793
|
|
|
1,340,844
|
|
||||
Total
|
|
$
|
18,465,433
|
|
|
$
|
1,360,620
|
|
|
$
|
10,346,558
|
|
|
$
|
6,758,255
|
|
Interest rate sensitivity for selected loans with:
|
|
|
|
|
|
|
|
|
||||||||
Predetermined interest rates
|
|
$
|
4,291,763
|
|
|
$
|
87,543
|
|
|
$
|
880,031
|
|
|
$
|
3,324,189
|
|
Floating or adjustable interest rates
|
|
14,173,670
|
|
|
1,273,077
|
|
|
9,466,527
|
|
|
3,434,066
|
|
||||
Total
|
|
$
|
18,465,433
|
|
|
$
|
1,360,620
|
|
|
$
|
10,346,558
|
|
|
$
|
6,758,255
|
|
|
|
December 31,
|
||||||||||||||||||
|
|
2019
|
|
2018
|
|
2017
|
|
2016
|
|
2015
|
||||||||||
Loan commitments
|
|
$
|
11,065,649
|
|
|
$
|
11,944,525
|
|
|
$
|
9,958,080
|
|
|
$
|
9,404,665
|
|
|
$
|
8,455,037
|
|
Standby letters of credit
|
|
645,505
|
|
|
582,196
|
|
|
647,653
|
|
|
585,472
|
|
|
507,988
|
|
|||||
Mortgage loans sold with recourse
|
|
88,808
|
|
|
98,623
|
|
|
125,127
|
|
|
139,486
|
|
|
155,489
|
|
Customers
|
|
$
|
159,974
|
|
Banks and other financial institutions
|
|
138,717
|
|
|
Exchanges and clearing organizations
|
|
2,927
|
|
|
Fair value of customer hedge asset derivative contracts, net
|
|
$
|
301,618
|
|
|
Year Ended December 31,
|
||||||||||||||||||
|
2019
|
|
2018
|
|
2017
|
|
2016
|
|
2015
|
||||||||||
Allowance for loan losses:
|
|
|
|
|
|
|
|
|
|
||||||||||
Beginning balance
|
$
|
207,457
|
|
|
$
|
230,682
|
|
|
$
|
246,159
|
|
|
$
|
225,524
|
|
|
$
|
189,056
|
|
Loans charged off:
|
|
|
|
|
|
|
|
|
|
||||||||||
Commercial
|
(43,185
|
)
|
|
(37,880
|
)
|
|
(19,810
|
)
|
|
(35,828
|
)
|
|
(6,734
|
)
|
|||||
Commercial real estate
|
(1,161
|
)
|
|
—
|
|
|
(76
|
)
|
|
—
|
|
|
(944
|
)
|
|||||
Residential mortgage
|
(288
|
)
|
|
(378
|
)
|
|
(649
|
)
|
|
(1,312
|
)
|
|
(2,205
|
)
|
|||||
Personal
|
(6,343
|
)
|
|
(5,325
|
)
|
|
(5,064
|
)
|
|
(5,448
|
)
|
|
(5,288
|
)
|
|||||
Total
|
(50,977
|
)
|
|
(43,583
|
)
|
|
(25,599
|
)
|
|
(42,588
|
)
|
|
(15,171
|
)
|
|||||
Recoveries of loans previously charged off:
|
|
|
|
|
|
|
|
|
|
||||||||||
Commercial
|
2,021
|
|
|
3,316
|
|
|
4,461
|
|
|
1,727
|
|
|
2,729
|
|
|||||
Commercial real estate
|
4,986
|
|
|
3,552
|
|
|
1,940
|
|
|
1,283
|
|
|
11,079
|
|
|||||
Residential mortgage
|
562
|
|
|
1,047
|
|
|
760
|
|
|
1,999
|
|
|
1,260
|
|
|||||
Personal
|
2,505
|
|
|
2,499
|
|
|
2,451
|
|
|
2,747
|
|
|
3,052
|
|
|||||
Total
|
10,074
|
|
|
10,414
|
|
|
9,612
|
|
|
7,756
|
|
|
18,120
|
|
|||||
Net loans recovered (charged off )
|
(40,903
|
)
|
|
(33,169
|
)
|
|
(15,987
|
)
|
|
(34,832
|
)
|
|
2,949
|
|
|||||
Provision for loan losses
|
44,205
|
|
|
9,944
|
|
|
510
|
|
|
55,467
|
|
|
33,519
|
|
|||||
Ending balance
|
$
|
210,759
|
|
|
$
|
207,457
|
|
|
$
|
230,682
|
|
|
$
|
246,159
|
|
|
$
|
225,524
|
|
Accrual for off-balance sheet credit risk:
|
|
|
|
|
|
|
|
|
|
||||||||||
Beginning balance
|
$
|
1,790
|
|
|
$
|
3,734
|
|
|
$
|
11,244
|
|
|
$
|
1,711
|
|
|
$
|
1,230
|
|
Provision for off-balance sheet credit risk
|
(205
|
)
|
|
(1,944
|
)
|
|
(7,510
|
)
|
|
9,533
|
|
|
481
|
|
|||||
Ending balance
|
$
|
1,585
|
|
|
$
|
1,790
|
|
|
$
|
3,734
|
|
|
$
|
11,244
|
|
|
$
|
1,711
|
|
Total combined provision for credit losses
|
$
|
44,000
|
|
|
$
|
8,000
|
|
|
$
|
(7,000
|
)
|
|
$
|
65,000
|
|
|
$
|
34,000
|
|
Allowance for loan losses to loans outstanding at period end
|
0.97
|
%
|
|
0.96
|
%
|
|
1.34
|
%
|
|
1.45
|
%
|
|
1.41
|
%
|
|||||
Net charge-offs (recoveries) to average loans
|
0.19
|
%
|
|
0.18
|
%
|
|
0.09
|
%
|
|
0.21
|
%
|
|
(0.02
|
)%
|
|||||
Total provision for credit losses to average loans
|
0.20
|
%
|
|
0.04
|
%
|
|
(0.04
|
)%
|
|
0.40
|
%
|
|
0.23
|
%
|
|||||
Recoveries to gross charge-offs
|
19.76
|
%
|
|
23.89
|
%
|
|
37.55
|
%
|
|
18.21
|
%
|
|
119.44
|
%
|
|||||
Allowance for loan losses as a multiple of net charge-offs
|
5.15
|
x
|
|
6.25
|
x
|
|
14.43
|
x
|
|
7.07
|
x
|
|
(76.47
|
)x
|
|||||
Accrual for off-balance sheet credit risk to off-balance sheet credit commitments
|
0.01
|
%
|
|
0.01
|
%
|
|
0.04
|
%
|
|
0.11
|
%
|
|
0.02
|
%
|
|||||
Combined allowance for credit losses to loans outstanding at period-end
|
0.98
|
%
|
|
0.97
|
%
|
|
1.37
|
%
|
|
1.52
|
%
|
|
1.43
|
%
|
|
December 31,
|
|||||||||||||||||||||||||||||||||
|
2019
|
|
2018
|
|
2017
|
|
2016
|
|
2015
|
|||||||||||||||||||||||||
|
Allowance
|
|
% of Loans1
|
|
Allowance
|
|
% of Loans1
|
|
Allowance
|
|
% of Loans1
|
|
Allowance
|
|
% of Loans1
|
|
Allowance
|
|
% of Loans1
|
|||||||||||||||
Loan category:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Commercial
|
$
|
118,187
|
|
|
64.51
|
%
|
|
$
|
102,226
|
|
|
62.96
|
%
|
|
$
|
124,269
|
|
|
62.58
|
%
|
|
$
|
140,213
|
|
|
61.16
|
%
|
|
$
|
130,334
|
|
|
64.32
|
%
|
Commercial real estate
|
51,805
|
|
|
20.38
|
%
|
|
60,026
|
|
|
22.00
|
%
|
|
56,621
|
|
|
20.29
|
%
|
|
50,749
|
|
|
22.42
|
%
|
|
41,391
|
|
|
20.44
|
%
|
|||||
Residential mortgage
|
14,400
|
|
|
9.58
|
%
|
|
17,964
|
|
|
10.30
|
%
|
|
18,451
|
|
|
11.50
|
%
|
|
18,224
|
|
|
11.48
|
%
|
|
19,509
|
|
|
11.77
|
%
|
|||||
Personal
|
9,172
|
|
|
5.53
|
%
|
|
9,473
|
|
|
4.74
|
%
|
|
9,124
|
|
|
5.63
|
%
|
|
8,773
|
|
|
4.94
|
%
|
|
4,164
|
|
|
3.47
|
%
|
|||||
Nonspecific allowance
|
17,195
|
|
|
|
|
17,768
|
|
|
|
|
22,217
|
|
|
|
|
28,200
|
|
|
|
|
30,126
|
|
|
|
||||||||||
Total
|
$
|
210,759
|
|
|
100.00
|
%
|
|
$
|
207,457
|
|
|
100.00
|
%
|
|
$
|
230,682
|
|
|
100.00
|
%
|
|
$
|
246,159
|
|
|
100.00
|
%
|
|
$
|
225,524
|
|
|
100.00
|
%
|
|
|
December 31,
|
||||||||||||||||||
|
|
2019
|
|
2018
|
|
2017
|
|
2016
|
|
2015
|
||||||||||
Nonaccruing loans:
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Commercial
|
|
$
|
115,416
|
|
|
$
|
99,841
|
|
|
$
|
137,303
|
|
|
$
|
178,953
|
|
|
$
|
76,424
|
|
Commercial real estate
|
|
27,626
|
|
|
21,621
|
|
|
2,855
|
|
|
5,521
|
|
|
9,001
|
|
|||||
Residential mortgage
|
|
37,622
|
|
|
41,555
|
|
|
47,447
|
|
|
46,220
|
|
|
61,240
|
|
|||||
Personal
|
|
287
|
|
|
230
|
|
|
269
|
|
|
290
|
|
|
463
|
|
|||||
Total nonaccruing loans
|
|
180,951
|
|
|
163,247
|
|
|
187,874
|
|
|
230,984
|
|
|
147,128
|
|
|||||
Accruing renegotiated loans guaranteed by U.S. government agencies
|
|
92,452
|
|
|
86,428
|
|
|
73,994
|
|
|
81,370
|
|
|
74,049
|
|
|||||
Real estate and other repossessed assets
|
|
20,359
|
|
|
17,487
|
|
|
28,437
|
|
|
44,287
|
|
|
30,731
|
|
|||||
Total nonperforming assets
|
|
$
|
293,762
|
|
|
$
|
267,162
|
|
|
$
|
290,305
|
|
|
$
|
356,641
|
|
|
$
|
251,908
|
|
Total nonperforming assets excluding those guaranteed by U.S. government agencies
|
|
$
|
195,210
|
|
|
$
|
173,602
|
|
|
$
|
207,132
|
|
|
$
|
263,425
|
|
|
$
|
155,959
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Nonaccruing loans by loan class:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Commercial:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Energy
|
|
$
|
91,722
|
|
|
$
|
47,494
|
|
|
$
|
92,284
|
|
|
$
|
132,499
|
|
|
$
|
61,189
|
|
Manufacturing
|
|
10,133
|
|
|
8,919
|
|
|
5,962
|
|
|
4,931
|
|
|
331
|
|
|||||
Services
|
|
7,483
|
|
|
8,567
|
|
|
2,620
|
|
|
8,173
|
|
|
10,290
|
|
|||||
Healthcare
|
|
4,480
|
|
|
16,538
|
|
|
14,765
|
|
|
825
|
|
|
1,072
|
|
|||||
Wholesale/retail
|
|
1,163
|
|
|
1,316
|
|
|
2,574
|
|
|
11,407
|
|
|
2,919
|
|
|||||
Public finance
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
Other commercial and industrial
|
|
435
|
|
|
17,007
|
|
|
19,098
|
|
|
21,118
|
|
|
623
|
|
|||||
Total commercial
|
|
115,416
|
|
|
99,841
|
|
|
137,303
|
|
|
178,953
|
|
|
76,424
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Commercial real estate:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Retail
|
|
18,868
|
|
|
20,279
|
|
|
276
|
|
|
326
|
|
|
1,319
|
|
|||||
Multifamily
|
|
6,858
|
|
|
301
|
|
|
—
|
|
|
38
|
|
|
274
|
|
|||||
Office
|
|
—
|
|
|
—
|
|
|
275
|
|
|
426
|
|
|
651
|
|
|||||
Industrial
|
|
909
|
|
|
—
|
|
|
—
|
|
|
76
|
|
|
76
|
|
|||||
Residential construction and land development
|
|
350
|
|
|
350
|
|
|
1,832
|
|
|
3,433
|
|
|
4,409
|
|
|||||
Other commercial real estate
|
|
641
|
|
|
691
|
|
|
472
|
|
|
1,222
|
|
|
2,272
|
|
|||||
Total commercial real estate
|
|
27,626
|
|
|
21,621
|
|
|
2,855
|
|
|
5,521
|
|
|
9,001
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Residential mortgage:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Permanent mortgage
|
|
20,441
|
|
|
23,951
|
|
|
25,193
|
|
|
22,855
|
|
|
28,984
|
|
|||||
Permanent mortgages guaranteed by U.S. government agencies
|
|
6,100
|
|
|
7,132
|
|
|
9,179
|
|
|
11,846
|
|
|
21,900
|
|
|||||
Home equity
|
|
11,081
|
|
|
10,472
|
|
|
13,075
|
|
|
11,519
|
|
|
10,356
|
|
|||||
Total residential mortgage
|
|
37,622
|
|
|
41,555
|
|
|
47,447
|
|
|
46,220
|
|
|
61,240
|
|
|||||
Personal
|
|
287
|
|
|
230
|
|
|
269
|
|
|
290
|
|
|
463
|
|
|||||
Total nonaccruing loans
|
|
$
|
180,951
|
|
|
$
|
163,247
|
|
|
$
|
187,874
|
|
|
$
|
230,984
|
|
|
$
|
147,128
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Allowance for loan losses to nonaccruing loans1
|
|
120.54
|
%
|
|
132.89
|
%
|
|
129.09
|
%
|
|
112.33
|
%
|
|
180.09
|
%
|
|||||
Accruing loans 90 days or more past due1
|
|
$
|
7,680
|
|
|
$
|
1,338
|
|
|
$
|
633
|
|
|
$
|
5
|
|
|
$
|
1,207
|
|
Foregone interest on nonaccruing loans2
|
|
17,409
|
|
|
15,502
|
|
|
16,496
|
|
|
15,990
|
|
|
7,432
|
|
1
|
Excludes residential mortgages guaranteed by agencies of the U.S. government.
|
2
|
Interest collected and recognized on nonaccruing loans was not significant in 2019 and previous years.
|
|
|
Year Ended December 31, 2019
|
||||||||||||||
|
|
Nonaccruing Loans
|
|
Renegotiated Loans
|
|
Real Estate and Other Repossessed Assets
|
|
Total Nonperforming Assets
|
||||||||
Balance, December 31, 2018
|
|
$
|
163,247
|
|
|
$
|
86,428
|
|
|
$
|
17,487
|
|
|
$
|
267,162
|
|
Additions
|
|
165,020
|
|
|
44,171
|
|
|
—
|
|
|
209,191
|
|
||||
Payments
|
|
(81,279
|
)
|
|
(2,590
|
)
|
|
—
|
|
|
(83,869
|
)
|
||||
Charge-offs
|
|
(50,977
|
)
|
|
—
|
|
|
—
|
|
|
(50,977
|
)
|
||||
Net gains (losses) and write-downs
|
|
—
|
|
|
—
|
|
|
863
|
|
|
863
|
|
||||
Foreclosure of nonaccruing loans
|
|
(10,665
|
)
|
|
—
|
|
|
10,665
|
|
|
—
|
|
||||
Foreclosure of loans guaranteed by U.S. government agencies
|
|
(2,755
|
)
|
|
(10,289
|
)
|
|
—
|
|
|
(13,044
|
)
|
||||
Proceeds from sales
|
|
—
|
|
|
(26,175
|
)
|
|
(8,656
|
)
|
|
(34,831
|
)
|
||||
Net transfers to nonaccruing loans
|
|
235
|
|
|
(235
|
)
|
|
—
|
|
|
—
|
|
||||
Return to accrual status
|
|
(1,875
|
)
|
|
—
|
|
|
—
|
|
|
(1,875
|
)
|
||||
Other, net
|
|
—
|
|
|
1,142
|
|
|
—
|
|
|
1,142
|
|
||||
Balance, December 31, 2019
|
|
$
|
180,951
|
|
|
$
|
92,452
|
|
|
$
|
20,359
|
|
|
$
|
293,762
|
|
|
|
December 31, 2019
|
|
December 31, 2018
|
||||||||||||||||||||
|
|
90 Days or More
|
|
60 to 89 Days
|
|
30 to 59 Days
|
|
90 Days or More
|
|
60 to 89 Days
|
|
30 to 59 Days
|
||||||||||||
Residential mortgage:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Permanent mortgage1
|
|
$
|
—
|
|
|
$
|
153
|
|
|
$
|
2,011
|
|
|
$
|
—
|
|
|
$
|
366
|
|
|
$
|
3,196
|
|
Home equity
|
|
—
|
|
|
308
|
|
|
3,343
|
|
|
59
|
|
|
352
|
|
|
1,102
|
|
||||||
Total residential mortgage
|
|
$
|
—
|
|
|
$
|
461
|
|
|
$
|
5,354
|
|
|
$
|
59
|
|
|
$
|
718
|
|
|
$
|
4,298
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Personal
|
|
$
|
15
|
|
|
$
|
54
|
|
|
$
|
4,664
|
|
|
$
|
3
|
|
|
$
|
796
|
|
|
$
|
479
|
|
1
|
Excludes past due residential mortgage loans guaranteed by agencies of the U.S. government.
|
|
Year Ended December 31,
|
||||||
|
2019
|
|
2018
|
||||
Commercial Banking
|
$
|
10,319,677
|
|
|
$
|
8,517,137
|
|
Consumer Banking
|
6,876,676
|
|
|
6,560,145
|
|
||
Wealth Management
|
6,447,987
|
|
|
5,617,325
|
|
||
Subtotal
|
23,644,340
|
|
|
20,694,607
|
|
||
Funds Management and other
|
2,006,941
|
|
|
2,114,604
|
|
||
Total
|
$
|
25,651,281
|
|
|
$
|
22,809,211
|
|
|
|
December 31,
|
||||||
|
|
2019
|
|
2018
|
||||
Months to maturity:
|
|
|
|
|
||||
3 or less
|
|
$
|
364,642
|
|
|
$
|
380,315
|
|
Over 3 through 6
|
|
275,227
|
|
|
298,692
|
|
||
Over 6 through 12
|
|
466,751
|
|
|
299,346
|
|
||
Over 12
|
|
572,539
|
|
|
618,413
|
|
||
Total
|
|
$
|
1,679,159
|
|
|
$
|
1,596,766
|
|
|
|
December 31,
|
||||||||||||||||||
|
|
2019
|
|
2018
|
|
2017
|
|
2016
|
|
2015
|
||||||||||
Oklahoma:
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Demand
|
|
$
|
3,257,337
|
|
|
$
|
3,610,593
|
|
|
$
|
3,885,008
|
|
|
$
|
3,993,170
|
|
|
$
|
4,133,520
|
|
Interest-bearing:
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Transaction
|
|
8,574,912
|
|
|
6,445,831
|
|
|
5,901,293
|
|
|
6,345,536
|
|
|
5,971,819
|
|
|||||
Savings
|
|
306,194
|
|
|
288,210
|
|
|
265,870
|
|
|
241,696
|
|
|
226,733
|
|
|||||
Time
|
|
1,125,446
|
|
|
1,118,643
|
|
|
1,092,133
|
|
|
1,118,355
|
|
|
1,202,274
|
|
|||||
Total interest-bearing
|
|
10,006,552
|
|
|
7,852,684
|
|
|
7,259,296
|
|
|
7,705,587
|
|
|
7,400,826
|
|
|||||
Total Oklahoma
|
|
13,263,889
|
|
|
11,463,277
|
|
|
11,144,304
|
|
|
11,698,757
|
|
|
11,534,346
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Texas:
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Demand
|
|
2,757,376
|
|
|
3,289,659
|
|
|
3,239,098
|
|
|
3,137,009
|
|
|
2,627,764
|
|
|||||
Interest-bearing:
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Transaction
|
|
2,911,731
|
|
|
2,294,740
|
|
|
2,397,071
|
|
|
2,388,812
|
|
|
2,132,099
|
|
|||||
Savings
|
|
102,456
|
|
|
99,624
|
|
|
93,620
|
|
|
83,101
|
|
|
77,902
|
|
|||||
Time
|
|
495,343
|
|
|
423,880
|
|
|
502,879
|
|
|
535,642
|
|
|
549,740
|
|
|||||
Total interest-bearing
|
|
3,509,530
|
|
|
2,818,244
|
|
|
2,993,570
|
|
|
3,007,555
|
|
|
2,759,741
|
|
|||||
Total Texas
|
|
6,266,906
|
|
|
6,107,903
|
|
|
6,232,668
|
|
|
6,144,564
|
|
|
5,387,505
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Colorado:
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Demand
|
|
1,729,674
|
|
|
1,658,473
|
|
|
633,714
|
|
|
576,000
|
|
|
497,318
|
|
|||||
Interest-bearing:
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Transaction
|
|
1,769,037
|
|
|
1,899,203
|
|
|
657,629
|
|
|
616,679
|
|
|
616,697
|
|
|||||
Savings
|
|
53,307
|
|
|
57,289
|
|
|
35,223
|
|
|
32,866
|
|
|
31,927
|
|
|||||
Time
|
|
283,517
|
|
|
274,877
|
|
|
224,962
|
|
|
242,782
|
|
|
296,224
|
|
|||||
Total interest-bearing
|
|
2,105,861
|
|
|
2,231,369
|
|
|
917,814
|
|
|
892,327
|
|
|
944,848
|
|
|||||
Total Colorado
|
|
3,835,535
|
|
|
3,889,842
|
|
|
1,551,528
|
|
|
1,468,327
|
|
|
1,442,166
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
New Mexico:
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Demand
|
|
623,722
|
|
|
691,692
|
|
|
663,353
|
|
|
627,979
|
|
|
487,286
|
|
|||||
Interest-bearing:
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Transaction
|
|
558,493
|
|
|
571,347
|
|
|
552,393
|
|
|
590,571
|
|
|
563,723
|
|
|||||
Savings
|
|
63,999
|
|
|
58,194
|
|
|
55,647
|
|
|
49,963
|
|
|
43,672
|
|
|||||
Time
|
|
238,140
|
|
|
224,515
|
|
|
216,743
|
|
|
238,408
|
|
|
267,821
|
|
|||||
Total interest-bearing
|
|
860,632
|
|
|
854,056
|
|
|
824,783
|
|
|
878,942
|
|
|
875,216
|
|
|||||
Total New Mexico
|
|
1,484,354
|
|
|
1,545,748
|
|
|
1,488,136
|
|
|
1,506,921
|
|
|
1,362,502
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31,
|
||||||||||||||||||
|
|
2019
|
|
2018
|
|
2017
|
|
2016
|
|
2015
|
||||||||||
Arizona:
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Demand
|
|
681,268
|
|
|
709,176
|
|
|
334,701
|
|
|
366,755
|
|
|
326,324
|
|
|||||
Interest-bearing:
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Transaction
|
|
684,929
|
|
|
575,996
|
|
|
274,846
|
|
|
305,099
|
|
|
358,556
|
|
|||||
Savings
|
|
10,314
|
|
|
10,545
|
|
|
3,343
|
|
|
2,973
|
|
|
2,893
|
|
|||||
Time
|
|
49,676
|
|
|
43,051
|
|
|
20,394
|
|
|
27,765
|
|
|
29,498
|
|
|||||
Total interest-bearing
|
|
744,919
|
|
|
629,592
|
|
|
298,583
|
|
|
335,837
|
|
|
390,947
|
|
|||||
Total Arizona
|
|
1,426,187
|
|
|
1,338,768
|
|
|
633,284
|
|
|
702,592
|
|
|
717,271
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Kansas/Missouri:
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Demand
|
|
384,533
|
|
|
418,199
|
|
|
457,080
|
|
|
508,418
|
|
|
197,424
|
|
|||||
Interest-bearing:
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Transaction
|
|
784,574
|
|
|
327,866
|
|
|
382,066
|
|
|
513,176
|
|
|
153,203
|
|
|||||
Savings
|
|
12,169
|
|
|
13,721
|
|
|
13,574
|
|
|
12,679
|
|
|
1,378
|
|
|||||
Time
|
|
17,877
|
|
|
19,688
|
|
|
27,260
|
|
|
42,152
|
|
|
35,524
|
|
|||||
Total interest-bearing
|
|
814,620
|
|
|
361,275
|
|
|
422,900
|
|
|
568,007
|
|
|
190,105
|
|
|||||
Total Kansas/Missouri
|
|
1,199,153
|
|
|
779,474
|
|
|
879,980
|
|
|
1,076,425
|
|
|
387,529
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Arkansas:
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Demand
|
|
27,381
|
|
|
36,800
|
|
|
30,384
|
|
|
26,389
|
|
|
27,252
|
|
|||||
Interest-bearing:
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Transaction
|
|
108,076
|
|
|
91,593
|
|
|
85,095
|
|
|
105,232
|
|
|
202,857
|
|
|||||
Savings
|
|
1,837
|
|
|
1,632
|
|
|
1,881
|
|
|
2,192
|
|
|
1,747
|
|
|||||
Time
|
|
7,850
|
|
|
8,726
|
|
|
14,045
|
|
|
16,696
|
|
|
24,983
|
|
|||||
Total interest-bearing
|
|
117,763
|
|
|
101,951
|
|
|
101,021
|
|
|
124,120
|
|
|
229,587
|
|
|||||
Total Arkansas
|
|
145,144
|
|
|
138,751
|
|
|
131,405
|
|
|
150,509
|
|
|
256,839
|
|
|||||
Total BOK Financial deposits
|
|
$
|
27,621,168
|
|
|
$
|
25,263,763
|
|
|
$
|
22,061,305
|
|
|
$
|
22,748,095
|
|
|
$
|
21,088,158
|
|
|
Minimum Capital Requirement
|
|
Capital Conservation Buffer
|
|
Minimum Capital Requirement Including Capital Conservation Buffer
|
|
|
|
|
|||||
|
|
|
|
|
|
|
||||||||
|
|
|
|
|
|
|
||||||||
|
|
|
|
December 31,
|
||||||||||
|
|
|
2019
|
|
2018
|
|||||||||
Risk-based capital:
|
|
|
|
|
|
|
|
|
|
|
||||
Common equity Tier 1
|
4.50
|
%
|
|
2.50
|
%
|
|
7.00
|
%
|
|
11.39
|
%
|
|
10.92
|
%
|
Tier 1 capital
|
6.00
|
%
|
|
2.50
|
%
|
|
8.50
|
%
|
|
11.39
|
%
|
|
10.92
|
%
|
Total capital
|
8.00
|
%
|
|
2.50
|
%
|
|
10.50
|
%
|
|
12.94
|
%
|
|
12.50
|
%
|
Tier 1 Leverage
|
4.00
|
%
|
|
N/A
|
|
|
4.00
|
%
|
|
8.40
|
%
|
|
8.96
|
%
|
|
|
|
|
|
|
|
|
|
|
|||||
Average total equity to average assets
|
|
|
|
|
|
|
11.11
|
%
|
|
10.70
|
%
|
|||
Tangible common equity ratio
|
|
|
|
|
|
|
8.98
|
%
|
|
8.82
|
%
|
|
|
December 31,
|
||||||
|
|
2019
|
|
2018
|
||||
Tangible common equity ratio:
|
|
|
|
|
||||
Total shareholders' equity
|
|
$
|
4,855,795
|
|
|
$
|
4,432,109
|
|
Less: Goodwill and intangible assets, net
|
|
1,173,362
|
|
|
1,184,112
|
|
||
Tangible common equity
|
|
3,682,433
|
|
|
3,247,997
|
|
||
Total assets
|
|
42,172,021
|
|
|
38,020,504
|
|
||
Less: Goodwill and intangible assets, net
|
|
1,173,362
|
|
|
1,184,112
|
|
||
Tangible assets
|
|
$
|
40,998,659
|
|
|
$
|
36,836,392
|
|
Tangible common equity ratio
|
|
8.98
|
%
|
|
8.82
|
%
|
|
Less Than
1 Year
|
|
1 to 3
Years
|
|
4 to 5
Years
|
|
More Than
5 Years
|
|
Total
|
||||||||||
Time deposits
|
$
|
864,803
|
|
|
$
|
345,389
|
|
|
$
|
171,359
|
|
|
$
|
271,354
|
|
|
$
|
1,652,905
|
|
Other borrowings
|
2,458
|
|
|
2,671
|
|
|
5,937
|
|
|
5,638
|
|
|
16,704
|
|
|||||
Subordinated debentures
|
14,543
|
|
|
29,086
|
|
|
29,086
|
|
|
558,920
|
|
|
631,635
|
|
|||||
Lease obligations
|
27,496
|
|
|
45,735
|
|
|
37,107
|
|
|
127,027
|
|
|
237,365
|
|
|||||
Derivative contracts
|
38,436
|
|
|
25,507
|
|
|
11,606
|
|
|
8,244
|
|
|
83,793
|
|
|||||
Data processing services
|
13,161
|
|
|
22,346
|
|
|
18,718
|
|
|
13,265
|
|
|
67,490
|
|
|||||
Total
|
$
|
960,897
|
|
|
$
|
470,734
|
|
|
$
|
273,813
|
|
|
$
|
984,448
|
|
|
$
|
2,689,892
|
|
Loan commitments
|
$
|
11,065,649
|
|
Standby letters of credit
|
645,505
|
|
|
Mortgage loans sold with recourse
|
88,808
|
|
|
Alternative investment commitments
|
82,207
|
|
|
Pre-tax Cumulative-Effect Adjustment
|
||
Adjustments to the allowance for loan losses:
|
|
||
Measurement changes to the allowance attributed to outstanding loan balances
|
$
|
1.3
|
|
Recognition of expected credit losses on acquired loans
|
24.5
|
|
|
Total adjustments to the allowance for loan losses
|
25.8
|
|
|
Measurement changes to accruals for unfunded loan commitments
|
23.6
|
|
|
Total adjustments for lending activities
|
49.4
|
|
|
Measurement changes to accruals for credit risk associated with residential mortgage loans transferred to mortgage-backed securities that exceed amounts guaranteed by U.S. government agencies
|
10.9
|
|
|
Total adjustments to accruals for mortgage-banking activities
|
10.9
|
|
|
Allowance for held-to-maturity (investment) securities
|
1.1
|
|
|
Total pre-tax transition adjustment
|
$
|
61.4
|
|
|
|
|
|
200 bp Increase
|
|
100 bp Decrease1
|
||||||||||||
|
|
2019
|
|
2018
|
|
2019
|
|
2018
|
||||||||
Anticipated impact over the next twelve months on net interest revenue
|
|
$
|
(16,328
|
)
|
|
$
|
(4,248
|
)
|
|
$
|
(31,629
|
)
|
|
$
|
(42,483
|
)
|
|
|
(1.50
|
)%
|
|
(0.36
|
)%
|
|
(2.91
|
)%
|
|
(3.57
|
)%
|
1
|
The results of a 200 basis point decrease in interest rates in the low-rate environment are not meaningful, therefore we will instead report the effect of a 100 basis point decrease in interest rates.
|
|
|
December 31,
|
||||||||||||||
|
|
2019
|
|
2018
|
||||||||||||
|
|
Up 50 bp
|
|
Down 50 bp
|
|
Up 50 bp
|
|
Down 50 bp
|
||||||||
MSR Asset
|
|
$
|
30,369
|
|
|
$
|
(41,779
|
)
|
|
$
|
18,619
|
|
|
$
|
(27,154
|
)
|
MSR Hedge
|
|
(40,727
|
)
|
|
33,454
|
|
|
(21,838
|
)
|
|
21,922
|
|
||||
Net Exposure
|
|
(10,358
|
)
|
|
(8,325
|
)
|
|
(3,219
|
)
|
|
(5,232
|
)
|
|
|
Year Ended
December 31, |
||||||||||||||
|
|
2019
|
|
2018
|
||||||||||||
|
|
Up 50 bp
|
|
Down 50 bp
|
|
Up 50 bp
|
|
Down 50 bp
|
||||||||
Average1
|
|
$
|
(143
|
)
|
|
$
|
(191
|
)
|
|
$
|
223
|
|
|
$
|
(697
|
)
|
Low2
|
|
528
|
|
|
293
|
|
|
2,077
|
|
|
699
|
|
||||
High3
|
|
(498
|
)
|
|
(538
|
)
|
|
(1,015
|
)
|
|
(2,447
|
)
|
||||
Period End
|
|
(112
|
)
|
|
(98
|
)
|
|
(16
|
)
|
|
(420
|
)
|
1
|
Average represents the simple average of each daily value observed during the reporting period.
|
2
|
Low represents least risk of loss in fair value measured as the smallest negative value or the largest positive value observed daily during the reporting period.
|
3
|
High represents the greatest risk of loss in fair value measured as the largest negative value or the smallest positive value observed daily during the reporting period.
|
|
|
Year Ended
December 31, |
||||||||||||||
|
|
2019
|
|
2018
|
||||||||||||
|
|
Up 50 bp
|
|
Down 50 bp
|
|
Up 50 bp
|
|
Down 50 bp
|
||||||||
Average1
|
|
$
|
(1,803
|
)
|
|
$
|
2,602
|
|
|
$
|
(1,133
|
)
|
|
$
|
649
|
|
Low2
|
|
2,049
|
|
|
7,106
|
|
|
2,041
|
|
|
4,423
|
|
||||
High3
|
|
(5,345
|
)
|
|
(1,376
|
)
|
|
(4,534
|
)
|
|
(3,463
|
)
|
||||
Period End
|
|
(1,702
|
)
|
|
2,710
|
|
|
1,470
|
|
|
(1,081
|
)
|
1
|
Average represents the simple average of each daily value observed during the reporting period.
|
2
|
Low represents least risk of loss in fair value measured as the smallest negative value or the largest positive value observed daily during the reporting period.
|
3
|
High represents the greatest risk of loss in fair value measured as the largest negative value or the smallest positive value observed daily during the reporting period.
|
|
|
Allowance for loan losses
|
Description of the Matter
|
|
The Company’s loan portfolio totaled $21.8 billion as of December 31, 2019 and the associated allowance for loan losses (ALL) was $211 million. As discussed in Notes 1 and 4 to the consolidated financial statements, the ALL is established to absorb probable estimated losses inherent in the portfolio. Management’s estimate for the inherent losses within the loan portfolio consists of specific allowances attributed to impaired loans that have not yet been charged down to amounts expected to be recovered, general allowances, including inherent risks, for unimpaired loans based on estimated loss rates by loan class and nonspecific allowances. General allowances for unimpaired loans are based on an estimated loss rate by loan class not considering recoveries. General allowances for unimpaired loans also consider inherent risks identified for each loan class. Inherent risks consider loss rates that most appropriately represent the current credit cycle and other factors attributable to a specific loan class which have not yet been represented in the historical gross loss rates or risk grading. Nonspecific allowances are maintained for risks beyond factors specific to a particular portfolio segment or loan class. These factors include trends in the economy in primary lending areas, concentration in large-balance loans and other relevant factors.
Auditing management’s estimate of the ALL involves a high degree of subjectivity in evaluating the determination of inherent risk adjustments to loss rates by loan class and the non-specific allowances. Management’s determination of the inherent risk adjustments and identification and measurement of the nonspecific allowances is highly judgmental and could have a significant effect on the ALL.
|
How We Addressed the Matter in Our Audit
|
|
We evaluated the design and tested the operating effectiveness of related controls over the calculation and recording of the ALL. Specifically, we tested the design and operating effectiveness of controls around inherent risk adjustments to loss rates by loan class identified by the Company, the identification of such inherent risk factors, the applicability of that risk factor to the Company’s portfolio, and the measurement of the impact of that risk factor. We tested controls over management’s process for identifying appropriate nonspecific allowances, the determination of whether any adjustment was warranted, and the measurement of the recorded adjustments.
To test the inherent risk adjustments to loss rates by loan class and non-specific allowances, we performed audit procedures that included, among others, assessing the methodology used by the Company to estimate the ALL and the underlying data used by the Company in its calculation of the ALL. To evaluate inherent risk adjustments to loss rates by loan class identified by the Company, as well as any nonspecific allowance recorded, we compared the significant assumptions used by management to the Company’s historical loss data, industry data, or economic data and evaluated whether such data was indicative of losses inherent in the loan portfolio. We tested inputs and assumptions used in the buildup of inherent risk adjustments to loss rates by loan class and the nonspecific allowance, and we evaluated the basis for adjustments considered, the basis for concluding an adjustment was warranted, which considered the assessment associated with whether the historical data adequately captured the risk in the current portfolio, and the completeness of the inputs used by management in determining such adjustments.
We compared the overall ALL amount to those established by similar banking institutions as a consideration around potentially contradictory information. We also reviewed subsequent events and transactions and considered whether they corroborate or contradict the Company’s conclusion.
|
Consolidated Statements of Earnings
|
||||||||||||
(In thousands, except share and per share data)
|
|
|
|
|
|
|
||||||
|
|
Year Ended December 31,
|
||||||||||
Interest and dividend revenue
|
|
2019
|
|
2018
|
|
2017
|
||||||
Loans
|
|
$
|
1,123,791
|
|
|
$
|
891,587
|
|
|
$
|
696,479
|
|
Residential mortgage loans held for sale
|
|
7,105
|
|
|
8,123
|
|
|
8,706
|
|
|||
Trading securities
|
|
61,595
|
|
|
57,531
|
|
|
17,002
|
|
|||
Investment securities
|
|
13,426
|
|
|
14,775
|
|
|
16,121
|
|
|||
Available for sale securities
|
|
254,031
|
|
|
197,317
|
|
|
177,070
|
|
|||
Fair value option securities
|
|
32,936
|
|
|
15,205
|
|
|
16,755
|
|
|||
Restricted equity securities
|
|
26,860
|
|
|
21,555
|
|
|
18,490
|
|
|||
Interest-bearing cash and cash equivalents
|
|
12,214
|
|
|
22,333
|
|
|
22,128
|
|
|||
Total interest and dividend revenue
|
|
1,531,958
|
|
|
1,228,426
|
|
|
972,751
|
|
|||
Interest expense
|
|
|
|
|
|
|
|
|
|
|||
Deposits
|
|
175,538
|
|
|
95,517
|
|
|
53,803
|
|
|||
Borrowed funds
|
|
228,428
|
|
|
138,215
|
|
|
69,008
|
|
|||
Subordinated debentures
|
|
15,113
|
|
|
9,827
|
|
|
8,239
|
|
|||
Total interest expense
|
|
419,079
|
|
|
243,559
|
|
|
131,050
|
|
|||
Net interest and dividend revenue
|
|
1,112,879
|
|
|
984,867
|
|
|
841,701
|
|
|||
Provision for credit losses
|
|
44,000
|
|
|
8,000
|
|
|
(7,000
|
)
|
|||
Net interest and dividend revenue after provision for credit losses
|
|
1,068,879
|
|
|
976,867
|
|
|
848,701
|
|
|||
Other operating revenue
|
|
|
|
|
|
|
|
|
|
|||
Brokerage and trading revenue
|
|
159,826
|
|
|
108,323
|
|
|
131,601
|
|
|||
Transaction card revenue
|
|
87,216
|
|
|
84,025
|
|
|
119,988
|
|
|||
Fiduciary and asset management revenue
|
|
177,025
|
|
|
184,703
|
|
|
162,889
|
|
|||
Deposit service charges and fees
|
|
112,485
|
|
|
112,153
|
|
|
112,079
|
|
|||
Mortgage banking revenue
|
|
107,541
|
|
|
97,787
|
|
|
104,719
|
|
|||
Other revenue
|
|
58,108
|
|
|
56,185
|
|
|
49,738
|
|
|||
Total fees and commissions
|
|
702,201
|
|
|
643,176
|
|
|
681,014
|
|
|||
Other gains (losses), net
|
|
9,351
|
|
|
(2,265
|
)
|
|
11,434
|
|
|||
Gain (loss) on derivatives, net
|
|
14,951
|
|
|
(422
|
)
|
|
779
|
|
|||
Gain (loss) on fair value option securities, net
|
|
15,787
|
|
|
(25,572
|
)
|
|
(2,733
|
)
|
|||
Change in fair value of mortgage servicing rights
|
|
(53,517
|
)
|
|
4,668
|
|
|
172
|
|
|||
Gain (loss) on available for sale securities, net
|
|
5,597
|
|
|
(2,801
|
)
|
|
4,428
|
|
|||
Total other operating revenue
|
|
694,370
|
|
|
616,784
|
|
|
695,094
|
|
|||
Other operating expense
|
|
|
|
|
|
|
|
|
|
|||
Personnel
|
|
660,565
|
|
|
583,131
|
|
|
573,408
|
|
|||
Business promotion
|
|
35,662
|
|
|
30,523
|
|
|
28,877
|
|
|||
Charitable contributions to BOKF Foundation
|
|
3,000
|
|
|
2,846
|
|
|
2,000
|
|
|||
Professional fees and services
|
|
54,861
|
|
|
59,099
|
|
|
51,067
|
|
|||
Net occupancy and equipment
|
|
110,275
|
|
|
97,981
|
|
|
86,477
|
|
|||
Insurance
|
|
20,906
|
|
|
23,318
|
|
|
19,653
|
|
|||
Data processing and communications
|
|
124,983
|
|
|
114,796
|
|
|
146,970
|
|
|||
Printing, postage and supplies
|
|
16,517
|
|
|
17,169
|
|
|
15,689
|
|
|||
Net losses and operating expenses of repossessed assets
|
|
6,707
|
|
|
17,052
|
|
|
9,687
|
|
|||
Amortization of intangible assets
|
|
20,618
|
|
|
9,620
|
|
|
6,779
|
|
|||
Mortgage banking costs
|
|
50,685
|
|
|
46,298
|
|
|
52,856
|
|
|||
Other expense
|
|
27,602
|
|
|
26,333
|
|
|
32,054
|
|
|||
Total other operating expense
|
|
1,132,381
|
|
|
1,028,166
|
|
|
1,025,517
|
|
|||
Net income before taxes
|
|
630,868
|
|
|
565,485
|
|
|
518,278
|
|
|||
Federal and state income taxes
|
|
130,183
|
|
|
119,061
|
|
|
182,593
|
|
|||
Net income
|
|
500,685
|
|
|
446,424
|
|
|
335,685
|
|
|||
Net income (loss) attributable to non-controlling interests
|
|
(73
|
)
|
|
778
|
|
|
1,041
|
|
|||
Net income attributable to BOK Financial Corporation shareholders
|
|
$
|
500,758
|
|
|
$
|
445,646
|
|
|
$
|
334,644
|
|
Earnings per share:
|
|
|
|
|
|
|
|
|
|
|||
Basic
|
|
$
|
7.03
|
|
|
$
|
6.63
|
|
|
$
|
5.11
|
|
Diluted
|
|
$
|
7.03
|
|
|
$
|
6.63
|
|
|
$
|
5.11
|
|
Average shares used in computation:
|
|
|
|
|
|
|
|
|
|
|||
Basic
|
|
70,787,700
|
|
|
66,628,640
|
|
|
64,745,364
|
|
|||
Diluted
|
|
70,802,612
|
|
|
66,662,273
|
|
|
64,806,284
|
|
|||
Dividends declared per share
|
|
$
|
2.01
|
|
|
$
|
1.90
|
|
|
$
|
1.77
|
|
Consolidated Statements of Comprehensive Income
|
|
|
||||||||||
(In thousands)
|
|
|
|
|
|
|
||||||
|
|
Year Ended December 31,
|
||||||||||
|
|
2019
|
|
2018
|
|
2017
|
||||||
Net income
|
|
$
|
500,685
|
|
|
$
|
446,424
|
|
|
$
|
335,685
|
|
Other comprehensive income (loss) before income taxes:
|
|
|
|
|
|
|
||||||
Net change in unrealized gain (loss)
|
|
241,047
|
|
|
(48,010
|
)
|
|
(26,152
|
)
|
|||
Reclassification adjustments included in earnings:
|
|
|
|
|
|
|
||||||
Loss (gain) on available for sale securities, net
|
|
(5,597
|
)
|
|
2,801
|
|
|
(4,428
|
)
|
|||
Other comprehensive gain (loss), before income taxes
|
|
235,450
|
|
|
(45,209
|
)
|
|
(30,580
|
)
|
|||
Federal and state income taxes
|
|
57,942
|
|
|
(11,507
|
)
|
|
(11,923
|
)
|
|||
Other comprehensive gain (loss), net of income taxes
|
|
177,508
|
|
|
(33,702
|
)
|
|
(18,657
|
)
|
|||
Comprehensive income
|
|
678,193
|
|
|
412,722
|
|
|
317,028
|
|
|||
Comprehensive income (loss) attributable to non-controlling interests
|
|
(73
|
)
|
|
778
|
|
|
1,041
|
|
|||
Comprehensive income attributable to BOK Financial Corp. shareholders
|
|
$
|
678,266
|
|
|
$
|
411,944
|
|
|
$
|
315,987
|
|
Consolidated Balance Sheets
|
||||||||
(In thousands, except share data)
|
|
|
|
|
||||
|
|
December 31,
|
||||||
|
|
2019
|
|
2018
|
||||
|
|
|
|
|
||||
Assets
|
|
|
|
|
||||
Cash and due from banks
|
|
$
|
735,836
|
|
|
$
|
741,749
|
|
Interest-bearing cash and cash equivalents
|
|
522,985
|
|
|
401,675
|
|
||
Trading securities
|
|
1,623,921
|
|
|
1,956,923
|
|
||
Investment securities (fair value: 2019 – $314,402; 2018 – $367,298)
|
|
293,418
|
|
|
355,187
|
|
||
Available for sale securities
|
|
11,269,643
|
|
|
8,857,120
|
|
||
Fair value option securities
|
|
1,098,577
|
|
|
283,235
|
|
||
Restricted equity securities
|
|
460,552
|
|
|
344,447
|
|
||
Residential mortgage loans held for sale
|
|
182,271
|
|
|
149,221
|
|
||
Loans
|
|
21,750,987
|
|
|
21,656,730
|
|
||
Allowance for loan losses
|
|
(210,759
|
)
|
|
(207,457
|
)
|
||
Loans, net of allowance
|
|
21,540,228
|
|
|
21,449,273
|
|
||
Premises and equipment, net
|
|
535,519
|
|
|
330,033
|
|
||
Receivables
|
|
231,811
|
|
|
204,960
|
|
||
Goodwill
|
|
1,048,091
|
|
|
1,049,263
|
|
||
Intangible assets, net
|
|
125,271
|
|
|
134,849
|
|
||
Mortgage servicing rights
|
|
201,886
|
|
|
259,254
|
|
||
Real estate and other repossessed assets, net of allowance (2019 – $11,013; 2018 – $13,665)
|
|
20,359
|
|
|
17,487
|
|
||
Derivative contracts
|
|
323,375
|
|
|
320,929
|
|
||
Cash surrender value of bank-owned life insurance
|
|
389,879
|
|
|
381,608
|
|
||
Receivable on unsettled securities sales
|
|
1,020,404
|
|
|
336,400
|
|
||
Other assets
|
|
547,995
|
|
|
446,891
|
|
||
Total assets
|
|
$
|
42,172,021
|
|
|
$
|
38,020,504
|
|
|
|
|
|
|
||||
Liabilities and Equity
|
|
|
|
|
||||
Liabilities:
|
|
|
|
|
||||
Noninterest-bearing demand deposits
|
|
$
|
9,461,291
|
|
|
$
|
10,414,592
|
|
Interest-bearing deposits:
|
|
|
|
|
|
|
||
Transaction
|
|
15,391,752
|
|
|
12,206,576
|
|
||
Savings
|
|
550,276
|
|
|
529,215
|
|
||
Time
|
|
2,217,849
|
|
|
2,113,380
|
|
||
Total deposits
|
|
27,621,168
|
|
|
25,263,763
|
|
||
Funds purchased and repurchase agreements
|
|
3,818,350
|
|
|
1,018,411
|
|
||
Other borrowings
|
|
4,527,055
|
|
|
6,124,390
|
|
||
Subordinated debentures
|
|
275,923
|
|
|
275,913
|
|
||
Accrued interest, taxes and expense
|
|
259,701
|
|
|
192,826
|
|
||
Derivative contracts
|
|
251,128
|
|
|
362,306
|
|
||
Due on unsettled securities purchases
|
|
182,547
|
|
|
156,370
|
|
||
Other liabilities
|
|
372,230
|
|
|
183,480
|
|
||
Total liabilities
|
|
37,308,102
|
|
|
33,577,459
|
|
||
Shareholders' equity:
|
|
|
|
|
|
|
||
Common stock ($.00006 par value; 2,500,000,000 shares authorized; shares issued and outstanding: 2019 – 75,758,597; 2018 – 75,711,492)
|
|
5
|
|
|
5
|
|
||
Capital surplus
|
|
1,350,995
|
|
|
1,334,030
|
|
||
Retained earnings
|
|
3,729,778
|
|
|
3,369,654
|
|
||
Treasury stock (shares at cost: 2019 – 5,178,999; 2018 – 3,588,560)
|
|
(329,906
|
)
|
|
(198,995
|
)
|
||
Accumulated other comprehensive income (loss)
|
|
104,923
|
|
|
(72,585
|
)
|
||
Total shareholders’ equity
|
|
4,855,795
|
|
|
4,432,109
|
|
||
Non-controlling interests
|
|
8,124
|
|
|
10,936
|
|
||
Total equity
|
|
4,863,919
|
|
|
4,443,045
|
|
||
Total liabilities and equity
|
|
$
|
42,172,021
|
|
|
$
|
38,020,504
|
|
Consolidated Statements of Changes in Equity
|
||||||||||||||||||||||||||||||||||||||
(In thousands)
|
|
|
|
|
|
|
|
|
|
Accumulated Other Comprehensive Income (Loss)
|
|
|
|
|
|
|
||||||||||||||||||||||
|
|
Common Stock
|
|
Capital
Surplus
|
|
Retained
Earnings
|
|
Treasury Stock
|
|
|
Total
Shareholders’
Equity
|
|
Non-
Controlling
Interests
|
|
Total Equity
|
|||||||||||||||||||||||
|
|
Shares
|
|
Amount
|
|
|
|
Shares
|
|
Amount
|
|
|
|
|
||||||||||||||||||||||||
Balance, December 31, 2018
|
|
75,711
|
|
|
$
|
5
|
|
|
$
|
1,334,030
|
|
|
$
|
3,369,654
|
|
|
3,589
|
|
|
$
|
(198,995
|
)
|
|
$
|
(72,585
|
)
|
|
$
|
4,432,109
|
|
|
$
|
10,936
|
|
|
$
|
4,443,045
|
|
Transition adjustment - Lease obligations and right of use assets
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2,862
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2,862
|
|
|
—
|
|
|
2,862
|
|
||||||||
Balance, January 1, 2019, Adjusted
|
|
75,711
|
|
|
5
|
|
|
1,334,030
|
|
|
3,372,516
|
|
|
3,589
|
|
|
(198,995
|
)
|
|
(72,585
|
)
|
|
4,434,971
|
|
|
10,936
|
|
|
4,445,907
|
|
||||||||
Net income (loss)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
500,758
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
500,758
|
|
|
(73
|
)
|
|
500,685
|
|
||||||||
Other comprehensive income
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
177,508
|
|
|
177,508
|
|
|
—
|
|
|
177,508
|
|
||||||||
Repurchase of common stock
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,572
|
|
|
(129,483
|
)
|
|
—
|
|
|
(129,483
|
)
|
|
—
|
|
|
(129,483
|
)
|
||||||||
Share-based compensation plans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Stock options exercised
|
|
27
|
|
|
—
|
|
|
1,421
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,421
|
|
|
—
|
|
|
1,421
|
|
||||||||
Non-vested shares awarded, net
|
|
21
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||||
Vesting of non-vested shares
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
18
|
|
|
(1,428
|
)
|
|
—
|
|
|
(1,428
|
)
|
|
—
|
|
|
(1,428
|
)
|
||||||||
Share-based compensation
|
|
—
|
|
|
—
|
|
|
15,544
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
15,544
|
|
|
—
|
|
|
15,544
|
|
||||||||
Cash dividends on common stock
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(143,496
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(143,496
|
)
|
|
—
|
|
|
(143,496
|
)
|
||||||||
Capital calls and distributions, net
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(2,739
|
)
|
|
(2,739
|
)
|
||||||||
Balance, December 31, 2019
|
|
75,759
|
|
|
$
|
5
|
|
|
$
|
1,350,995
|
|
|
$
|
3,729,778
|
|
|
5,179
|
|
|
$
|
(329,906
|
)
|
|
$
|
104,923
|
|
|
$
|
4,855,795
|
|
|
$
|
8,124
|
|
|
$
|
4,863,919
|
|
Consolidated Statements of Cash Flows
(In thousands)
|
||||||||||||
|
|
Year Ended
|
||||||||||
|
|
2019
|
|
2018
|
|
2017
|
||||||
Cash Flows From Operating Activities:
|
|
|
|
|
|
|
||||||
Net income
|
|
$
|
500,685
|
|
|
$
|
446,424
|
|
|
$
|
335,685
|
|
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
|
|
|
|
|
|
|
||||||
Provision for credit losses
|
|
44,000
|
|
|
8,000
|
|
|
(7,000
|
)
|
|||
Change in fair value of mortgage servicing rights due to market changes
|
|
53,517
|
|
|
(4,668
|
)
|
|
(172
|
)
|
|||
Change in fair value of mortgage servicing rights due to principal payments
|
|
38,979
|
|
|
33,528
|
|
|
33,527
|
|
|||
Net unrealized losses (gains) from derivative contracts
|
|
(25,936
|
)
|
|
4,686
|
|
|
3,704
|
|
|||
Share-based compensation
|
|
15,544
|
|
|
4,229
|
|
|
23,602
|
|
|||
Depreciation and amortization
|
|
95,416
|
|
|
60,843
|
|
|
54,466
|
|
|||
Net amortization of discounts and premiums
|
|
(16,984
|
)
|
|
30,945
|
|
|
28,693
|
|
|||
Net losses (gains) on financial instruments and other losses (gains), net
|
|
(583
|
)
|
|
9,585
|
|
|
(2,828
|
)
|
|||
Net gain on mortgage loans held for sale
|
|
(40,402
|
)
|
|
(35,705
|
)
|
|
(47,159
|
)
|
|||
Mortgage loans originated for sale
|
|
(3,025,930
|
)
|
|
(2,587,297
|
)
|
|
(3,286,873
|
)
|
|||
Proceeds from sale of mortgage loans held for sale
|
|
3,035,600
|
|
|
2,691,144
|
|
|
3,405,890
|
|
|||
Capitalized mortgage servicing rights
|
|
(35,128
|
)
|
|
(35,247
|
)
|
|
(39,149
|
)
|
|||
Change in trading and fair value option securities
|
|
(483,007
|
)
|
|
(1,023,097
|
)
|
|
(804,204
|
)
|
|||
Change in receivables
|
|
(740,868
|
)
|
|
(38,346
|
)
|
|
321,880
|
|
|||
Change in other assets
|
|
18,955
|
|
|
27,507
|
|
|
(5,506
|
)
|
|||
Change in accrued interest, taxes and expense
|
|
34,894
|
|
|
(5,191
|
)
|
|
18,191
|
|
|||
Change in other liabilities
|
|
57,569
|
|
|
(139,346
|
)
|
|
182,184
|
|
|||
Net cash provided by (used in) operating activities
|
|
(473,679
|
)
|
|
(552,006
|
)
|
|
214,931
|
|
|||
|
|
|
|
|
|
|
||||||
Cash Flows From Investing Activities:
|
|
|
|
|
|
|
||||||
Proceeds from maturities or redemptions of investment securities
|
|
60,128
|
|
|
124,864
|
|
|
112,022
|
|
|||
Proceeds from maturities or redemptions of available for sale securities
|
|
1,841,069
|
|
|
1,122,680
|
|
|
1,841,217
|
|
|||
Purchases of investment securities
|
|
—
|
|
|
(4,468
|
)
|
|
(32,972
|
)
|
|||
Purchases of available for sale securities
|
|
(5,245,256
|
)
|
|
(1,955,172
|
)
|
|
(2,845,557
|
)
|
|||
Proceeds from sales of available for sale securities
|
|
1,211,718
|
|
|
745,643
|
|
|
1,309,215
|
|
|||
Change in amount receivable on unsettled available for sale securities transactions
|
|
25,410
|
|
|
38,347
|
|
|
(68,792
|
)
|
|||
Loans originated, net of principal collected
|
|
(44,414
|
)
|
|
(1,553,033
|
)
|
|
(78,232
|
)
|
|||
Net payments on derivative asset contracts
|
|
33,566
|
|
|
(114,417
|
)
|
|
479,409
|
|
|||
Acquisitions, net of cash acquired
|
|
—
|
|
|
(175,755
|
)
|
|
—
|
|
|||
Proceeds from disposition of assets
|
|
178,681
|
|
|
308,762
|
|
|
274,029
|
|
|||
Purchases of assets
|
|
(384,639
|
)
|
|
(345,082
|
)
|
|
(250,783
|
)
|
|||
Net cash provided by (used in) investing activities
|
|
(2,323,737
|
)
|
|
(1,807,631
|
)
|
|
739,556
|
|
|||
|
|
|
|
|
|
|
||||||
Cash Flows From Financing Activities:
|
|
|
|
|
|
|
||||||
Net change in demand deposits, transaction deposits and savings accounts
|
|
2,252,936
|
|
|
(13,870
|
)
|
|
(563,406
|
)
|
|||
Net change in time deposits
|
|
104,288
|
|
|
(73,089
|
)
|
|
(123,384
|
)
|
|||
Net change in other borrowed funds
|
|
1,110,970
|
|
|
1,295,484
|
|
|
(10,909
|
)
|
|||
Change in amount due on unsettled security purchases
|
|
(41,651
|
)
|
|
(41,319
|
)
|
|
144,690
|
|
|||
Issuance of common and treasury stock, net
|
|
(7
|
)
|
|
(88
|
)
|
|
4,368
|
|
|||
Net change in derivative margin accounts
|
|
(207,122
|
)
|
|
85,466
|
|
|
(17,726
|
)
|
|||
Net payments or proceeds on derivative liability contracts
|
|
(33,622
|
)
|
|
114,076
|
|
|
(485,119
|
)
|
|||
Repurchase of common stock
|
|
(129,483
|
)
|
|
(53,465
|
)
|
|
(7,403
|
)
|
|||
Dividends paid
|
|
(143,496
|
)
|
|
(127,188
|
)
|
|
(116,041
|
)
|
|||
Net cash provided by (used in) financing activities
|
|
2,912,813
|
|
|
1,186,007
|
|
|
(1,174,930
|
)
|
|||
Net increase (decrease) in cash and cash equivalents
|
|
115,397
|
|
|
(1,173,630
|
)
|
|
(220,443
|
)
|
|||
Cash and cash equivalents at beginning of period
|
|
1,143,424
|
|
|
2,317,054
|
|
|
2,537,497
|
|
|||
Cash and cash equivalents at end of period
|
|
$
|
1,258,821
|
|
|
$
|
1,143,424
|
|
|
$
|
2,317,054
|
|
|
|
|
|
|
|
|
||||||
Supplemental Cash Flow Information:
|
|
|
|
|
|
|
||||||
Cash paid for interest
|
|
$
|
417,070
|
|
|
$
|
243,121
|
|
|
$
|
127,513
|
|
Cash paid for taxes
|
|
$
|
87,361
|
|
|
$
|
92,291
|
|
|
$
|
121,697
|
|
Net loans and bank premises transferred to repossessed real estate and other assets
|
|
$
|
10,665
|
|
|
$
|
9,880
|
|
|
$
|
7,367
|
|
Increase in U.S. government guaranteed loans eligible for repurchase
|
|
$
|
91,634
|
|
|
$
|
100,238
|
|
|
$
|
148,107
|
|
Increase in receivables from conveyance of GNMA OREO
|
|
$
|
28,669
|
|
|
$
|
38,216
|
|
|
$
|
40,528
|
|
Right-of-use assets obtained in exchange for operating lease liabilities
|
|
$
|
62,755
|
|
|
$
|
—
|
|
|
$
|
—
|
|
•
|
Quoted prices for similar, but not identical, assets or liabilities in active markets;
|
•
|
Quoted prices for identical or similar assets or liabilities in inactive markets;
|
•
|
Inputs other than quoted prices that are observable, such as interest rate and yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates; and
|
•
|
Other inputs derived from or corroborated by observable market inputs.
|
•
|
Identify the contract with a customer
|
•
|
Identify the performance obligations in the contract
|
•
|
Determine the transaction price
|
•
|
Allocate the transaction price to the performance obligations in the contract
|
•
|
Recognize revenue when (or as) the Company satisfies a performance obligation
|
|
|
December 31, 2019
|
|
December 31, 2018
|
||||||||||||
|
|
Fair Value
|
|
Net Unrealized Gain (Loss)
|
|
Fair Value
|
|
Net Unrealized Gain (Loss)
|
||||||||
U.S. government agency debentures
|
|
$
|
44,264
|
|
|
$
|
6
|
|
|
$
|
63,765
|
|
|
$
|
254
|
|
Residential agency mortgage-backed securities
|
|
1,504,651
|
|
|
2,293
|
|
|
1,791,584
|
|
|
9,966
|
|
||||
Municipal and other tax-exempt securities
|
|
26,196
|
|
|
60
|
|
|
34,507
|
|
|
(1
|
)
|
||||
Asset-backed securities
|
|
14,084
|
|
|
(21
|
)
|
|
42,656
|
|
|
685
|
|
||||
Other debt securities
|
|
34,726
|
|
|
21
|
|
|
24,411
|
|
|
65
|
|
||||
Total trading securities
|
|
$
|
1,623,921
|
|
|
$
|
2,359
|
|
|
$
|
1,956,923
|
|
|
$
|
10,969
|
|
|
|
December 31, 2019
|
||||||||||||||
|
|
Amortized
|
|
Fair
|
|
Gross Unrealized
|
||||||||||
|
|
Cost
|
|
Value
|
|
Gain
|
|
Loss
|
||||||||
Municipal and other tax-exempt securities
|
|
$
|
93,653
|
|
|
$
|
96,897
|
|
|
$
|
3,250
|
|
|
$
|
(6
|
)
|
Residential agency mortgage-backed securities
|
|
10,676
|
|
|
11,164
|
|
|
488
|
|
|
—
|
|
||||
Other debt securities
|
|
189,089
|
|
|
206,341
|
|
|
17,547
|
|
|
(295
|
)
|
||||
Total investment securities
|
|
$
|
293,418
|
|
|
$
|
314,402
|
|
|
$
|
21,285
|
|
|
$
|
(301
|
)
|
|
|
December 31, 2018
|
||||||||||||||
|
|
Amortized
|
|
Fair
|
|
Gross Unrealized
|
||||||||||
|
|
Cost
|
|
Value
|
|
Gain
|
|
Loss
|
||||||||
Municipal and other tax-exempt securities
|
|
$
|
137,296
|
|
|
$
|
138,562
|
|
|
$
|
1,858
|
|
|
$
|
(592
|
)
|
Residential agency mortgage-backed securities
|
|
12,612
|
|
|
12,770
|
|
|
293
|
|
|
(135
|
)
|
||||
Other debt securities
|
|
205,279
|
|
|
215,966
|
|
|
12,257
|
|
|
(1,570
|
)
|
||||
Total investment securities
|
|
$
|
355,187
|
|
|
$
|
367,298
|
|
|
$
|
14,408
|
|
|
$
|
(2,297
|
)
|
|
|
Less than
One Year
|
|
One to
Five Years
|
|
Six to
Ten Years
|
|
Over
Ten Years
|
|
Total
|
|
Weighted
Average
Maturity1
|
|||||||||||
Fixed maturity debt securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Amortized cost
|
|
$
|
41,670
|
|
|
$
|
84,027
|
|
|
$
|
144,705
|
|
|
$
|
12,340
|
|
|
$
|
282,742
|
|
|
5.10
|
|
Fair value
|
|
41,840
|
|
|
87,883
|
|
|
161,178
|
|
|
12,337
|
|
|
303,238
|
|
|
|
|
|||||
Residential mortgage-backed securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Amortized cost
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
10,676
|
|
|
2
|
|||||
Fair value
|
|
|
|
|
|
|
|
|
|
|
|
|
|
11,164
|
|
|
|
|
|||||
Total investment securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Amortized cost
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
293,418
|
|
|
|
|
||||
Fair value
|
|
|
|
|
|
|
|
|
|
|
|
|
|
314,402
|
|
|
|
|
1
|
Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without penalty.
|
2
|
The average expected lives of residential mortgage-backed securities were 5.0 years based upon current prepayment assumptions.
|
|
|
December 31, 2019
|
|||||||||||||||||||||||||
|
|
Number of Securities
|
|
Less Than 12 Months
|
|
12 Months or Longer
|
|
Total
|
|||||||||||||||||||
|
|
|
Fair
Value
|
|
Unrealized
Loss
|
|
Fair
Value
|
|
Unrealized
Loss
|
|
Fair
Value
|
|
Unrealized
Loss
|
||||||||||||||
Investment:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Municipal and other tax-exempt
|
|
4
|
|
|
$
|
1,001
|
|
|
$
|
1
|
|
|
$
|
1,706
|
|
|
$
|
5
|
|
|
$
|
2,707
|
|
|
$
|
6
|
|
Residential agency mortgage-backed securities
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Other debt securities
|
|
13
|
|
|
275
|
|
|
1
|
|
|
8,041
|
|
|
294
|
|
|
8,316
|
|
|
295
|
|
||||||
Total investment securities
|
|
17
|
|
|
$
|
1,276
|
|
|
$
|
2
|
|
|
$
|
9,747
|
|
|
$
|
299
|
|
|
$
|
11,023
|
|
|
$
|
301
|
|
|
|
December 31, 2018
|
|||||||||||||||||||||||||
|
|
Number of Securities
|
|
Less Than 12 Months
|
|
12 Months or Longer
|
|
Total
|
|||||||||||||||||||
|
|
|
Fair
Value
|
|
Unrealized
Loss
|
|
Fair
Value
|
|
Unrealized
Loss
|
|
Fair
Value
|
|
Unrealized
Loss
|
||||||||||||||
Investment:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Municipal and other tax- exempt
|
|
72
|
|
|
$
|
18,255
|
|
|
$
|
69
|
|
|
$
|
66,141
|
|
|
$
|
523
|
|
|
$
|
84,396
|
|
|
$
|
592
|
|
Residential agency mortgage-backed securities
|
|
2
|
|
|
—
|
|
|
—
|
|
|
5,633
|
|
|
135
|
|
|
5,633
|
|
|
135
|
|
||||||
Other debt securities
|
|
72
|
|
|
13,372
|
|
|
64
|
|
|
23,028
|
|
|
1,506
|
|
|
36,400
|
|
|
1,570
|
|
||||||
Total investment securities
|
|
146
|
|
|
$
|
31,627
|
|
|
$
|
133
|
|
|
$
|
94,802
|
|
|
$
|
2,164
|
|
|
$
|
126,429
|
|
|
$
|
2,297
|
|
|
|
December 31, 2019
|
||||||||||||||
|
|
Amortized
|
|
Fair
|
|
Gross Unrealized
|
||||||||||
|
|
Cost
|
|
Value
|
|
Gain
|
|
Loss
|
||||||||
U.S. Treasury
|
|
$
|
1,598
|
|
|
$
|
1,600
|
|
|
$
|
2
|
|
|
$
|
—
|
|
Municipal and other tax-exempt
|
|
1,789
|
|
|
1,861
|
|
|
72
|
|
|
—
|
|
||||
Mortgage-backed securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Residential agency
|
|
7,956,297
|
|
|
8,046,096
|
|
|
104,912
|
|
|
(15,113
|
)
|
||||
Residential non-agency
|
|
25,968
|
|
|
41,609
|
|
|
15,641
|
|
|
—
|
|
||||
Commercial agency
|
|
3,145,342
|
|
|
3,178,005
|
|
|
37,808
|
|
|
(5,145
|
)
|
||||
Other debt securities
|
|
500
|
|
|
472
|
|
|
—
|
|
|
(28
|
)
|
||||
Total available for sale securities
|
|
$
|
11,131,494
|
|
|
$
|
11,269,643
|
|
|
$
|
158,435
|
|
|
$
|
(20,286
|
)
|
|
|
December 31, 2018
|
||||||||||||||
|
|
Amortized
|
|
Fair
|
|
Gross Unrealized
|
||||||||||
|
|
Cost
|
|
Value
|
|
Gain
|
|
Loss
|
||||||||
U.S. Treasury
|
|
$
|
496
|
|
|
$
|
493
|
|
|
$
|
—
|
|
|
$
|
(3
|
)
|
Municipal and other tax-exempt
|
|
2,782
|
|
|
2,864
|
|
|
82
|
|
|
—
|
|
||||
Mortgage-backed securities:
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Residential agency
|
|
5,886,323
|
|
|
5,804,708
|
|
|
16,149
|
|
|
(97,764
|
)
|
||||
Residential non-agency
|
|
40,948
|
|
|
59,736
|
|
|
18,788
|
|
|
—
|
|
||||
Commercial agency
|
|
2,986,297
|
|
|
2,953,889
|
|
|
7,955
|
|
|
(40,363
|
)
|
||||
Other debt securities
|
|
35,545
|
|
|
35,430
|
|
|
12
|
|
|
(127
|
)
|
||||
Total available for sale securities
|
|
$
|
8,952,391
|
|
|
$
|
8,857,120
|
|
|
$
|
42,986
|
|
|
$
|
(138,257
|
)
|
|
Less than
One Year
|
|
One to
Five Years
|
|
Six to
Ten Years
|
|
Over
Ten Years
|
|
Total
|
|
Weighted
Average
Maturity1
|
|||||||||||
Fixed maturity debt securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Amortized cost
|
$
|
5,105
|
|
|
$
|
1,113,463
|
|
|
$
|
1,455,340
|
|
|
$
|
575,321
|
|
|
$
|
3,149,229
|
|
|
8.15
|
|
Fair value
|
5,114
|
|
|
1,122,392
|
|
|
1,474,002
|
|
|
580,430
|
|
|
3,181,938
|
|
|
|
||||||
Residential mortgage-backed securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Amortized cost
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
7,982,265
|
|
|
2
|
|||||
Fair value
|
|
|
|
|
|
|
|
|
|
|
|
|
8,087,705
|
|
|
|
||||||
Total available-for-sale securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Amortized cost
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
11,131,494
|
|
|
|
|
||||
Fair value
|
|
|
|
|
|
|
|
|
|
|
|
|
11,269,643
|
|
|
|
|
1
|
Expected maturities may differ from contractual maturities, because borrowers may have the right to call or prepay obligations with or without penalty.
|
2
|
The average expected lives of mortgage-backed securities were 4.0 years based upon current prepayment assumptions.
|
|
Year Ended December 31,
|
||||||||||
|
2019
|
|
2018
|
|
2017
|
||||||
Proceeds
|
$
|
1,211,718
|
|
|
$
|
745,643
|
|
|
$
|
1,309,215
|
|
Gross realized gains
|
14,996
|
|
|
7,117
|
|
|
10,223
|
|
|||
Gross realized losses
|
(9,399
|
)
|
|
(9,918
|
)
|
|
(5,795
|
)
|
|||
Related federal and state income tax expense (benefit)
|
1,425
|
|
|
(713
|
)
|
|
1,722
|
|
|
|
December 31, 2019
|
|||||||||||||||||||||||||
|
|
Number of Securities
|
|
Less Than 12 Months
|
|
12 Months or Longer
|
|
Total
|
|||||||||||||||||||
|
|
|
Fair
Value
|
|
Unrealized
Loss
|
|
Fair
Value
|
|
Unrealized
Loss
|
|
Fair
Value
|
|
Unrealized
Loss
|
||||||||||||||
Available for sale:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Mortgage-backed securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Residential agency
|
|
133
|
|
|
$
|
1,352,597
|
|
|
$
|
6,690
|
|
|
$
|
686,002
|
|
|
$
|
8,423
|
|
|
$
|
2,038,599
|
|
|
$
|
15,113
|
|
Commercial agency
|
|
69
|
|
|
830,047
|
|
|
4,238
|
|
|
210,877
|
|
|
907
|
|
|
1,040,924
|
|
|
5,145
|
|
||||||
Other debt securities
|
|
1
|
|
|
—
|
|
|
—
|
|
|
472
|
|
|
28
|
|
|
472
|
|
|
28
|
|
||||||
Total available for sale securities
|
|
203
|
|
|
$
|
2,182,644
|
|
|
$
|
10,928
|
|
|
$
|
897,351
|
|
|
$
|
9,358
|
|
|
$
|
3,079,995
|
|
|
$
|
20,286
|
|
|
|
December 31, 2018
|
|||||||||||||||||||||||||
|
|
Number of Securities
|
|
Less Than 12 Months
|
|
12 Months or Longer
|
|
Total
|
|||||||||||||||||||
|
|
|
Fair
Value
|
|
Unrealized
Loss
|
|
Fair
Value
|
|
Unrealized
Loss
|
|
Fair
Value
|
|
Unrealized
Loss
|
||||||||||||||
Available for sale:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
U.S. Treasury
|
|
1
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
493
|
|
|
$
|
3
|
|
|
$
|
493
|
|
|
$
|
3
|
|
Mortgage-backed securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Residential agency
|
|
289
|
|
|
510,824
|
|
|
1,158
|
|
|
3,641,370
|
|
|
96,606
|
|
|
4,152,194
|
|
|
97,764
|
|
||||||
Commercial agency
|
|
197
|
|
|
179,258
|
|
|
394
|
|
|
1,969,504
|
|
|
39,969
|
|
|
2,148,762
|
|
|
40,363
|
|
||||||
Other debt securities
|
|
3
|
|
|
9,982
|
|
|
63
|
|
|
20,436
|
|
|
64
|
|
|
30,418
|
|
|
127
|
|
||||||
Total available for sale securities
|
|
490
|
|
|
$
|
700,064
|
|
|
$
|
1,615
|
|
|
$
|
5,631,803
|
|
|
$
|
136,642
|
|
|
$
|
6,331,867
|
|
|
$
|
138,257
|
|
|
|
December 31, 2019
|
|
December 31, 2018
|
||||||||||||
|
|
Fair Value
|
|
Net Unrealized Gain (Loss)
|
|
Fair Value
|
|
Net Unrealized Gain (Loss)
|
||||||||
U.S. Treasury
|
|
$
|
9,917
|
|
|
$
|
(48
|
)
|
|
$
|
—
|
|
|
$
|
—
|
|
Residential agency mortgage-backed securities
|
|
1,088,660
|
|
|
14,109
|
|
|
283,235
|
|
|
2,766
|
|
||||
Total
|
|
$
|
1,098,577
|
|
|
$
|
14,061
|
|
|
$
|
283,235
|
|
|
$
|
2,766
|
|
|
|
Assets
|
||||||||||||||||||||||
|
|
Notional1
|
|
Gross Fair Value
|
|
Netting Adjustments
|
|
Net Fair Value Before Cash Collateral
|
|
Cash Collateral
|
|
Fair Value Net of Cash Collateral
|
||||||||||||
Customer risk management programs:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Interest rate contracts
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
To-be-announced residential mortgage-backed securities
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Interest rate swaps
|
|
2,464,478
|
|
|
49,100
|
|
|
(1,839
|
)
|
|
47,261
|
|
|
—
|
|
|
47,261
|
|
||||||
Energy contracts
|
|
2,151,096
|
|
|
144,906
|
|
|
(107,591
|
)
|
|
37,315
|
|
|
(38
|
)
|
|
37,277
|
|
||||||
Agricultural contracts
|
|
16,118
|
|
|
1,522
|
|
|
(22
|
)
|
|
1,500
|
|
|
—
|
|
|
1,500
|
|
||||||
Foreign exchange contracts
|
|
214,119
|
|
|
213,007
|
|
|
—
|
|
|
213,007
|
|
|
—
|
|
|
213,007
|
|
||||||
Equity option contracts
|
|
81,455
|
|
|
3,233
|
|
|
—
|
|
|
3,233
|
|
|
(660
|
)
|
|
2,573
|
|
||||||
Total customer risk management programs
|
|
4,927,266
|
|
|
411,768
|
|
|
(109,452
|
)
|
|
302,316
|
|
|
(698
|
)
|
|
301,618
|
|
||||||
Trading
|
|
69,721,932
|
|
|
131,561
|
|
|
(115,949
|
)
|
|
15,612
|
|
|
—
|
|
|
15,612
|
|
||||||
Interest rate risk management programs
|
|
1,268,180
|
|
|
6,226
|
|
|
(81
|
)
|
|
6,145
|
|
|
—
|
|
|
6,145
|
|
||||||
Total derivative contracts
|
|
$
|
75,917,378
|
|
|
$
|
549,555
|
|
|
$
|
(225,482
|
)
|
|
$
|
324,073
|
|
|
$
|
(698
|
)
|
|
$
|
323,375
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
|
Liabilities
|
||||||||||||||||||||||
|
|
Notional¹
|
|
Gross Fair Value
|
|
Netting Adjustments
|
|
Net Fair Value Before Cash Collateral
|
|
Cash Collateral
|
|
Fair Value Net of Cash Collateral
|
||||||||||||
Customer risk management programs:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Interest rate contracts
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
To-be-announced residential mortgage-backed securities
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Interest rate swaps
|
|
2,464,478
|
|
|
49,194
|
|
|
(1,839
|
)
|
|
47,355
|
|
|
(43,932
|
)
|
|
3,423
|
|
||||||
Energy contracts
|
|
2,105,391
|
|
|
139,311
|
|
|
(107,591
|
)
|
|
31,720
|
|
|
(6,031
|
)
|
|
25,689
|
|
||||||
Agricultural contracts
|
|
16,139
|
|
|
1,507
|
|
|
(22
|
)
|
|
1,485
|
|
|
(1,485
|
)
|
|
—
|
|
||||||
Foreign exchange contracts
|
|
207,919
|
|
|
207,020
|
|
|
—
|
|
|
207,020
|
|
|
—
|
|
|
207,020
|
|
||||||
Equity option contracts
|
|
81,455
|
|
|
3,233
|
|
|
—
|
|
|
3,233
|
|
|
—
|
|
|
3,233
|
|
||||||
Total customer risk management programs
|
|
4,875,382
|
|
|
400,265
|
|
|
(109,452
|
)
|
|
290,813
|
|
|
(51,448
|
)
|
|
239,365
|
|
||||||
Trading
|
|
65,144,388
|
|
|
125,535
|
|
|
(115,949
|
)
|
|
9,586
|
|
|
—
|
|
|
9,586
|
|
||||||
Interest rate risk management programs
|
|
380,401
|
|
|
3,121
|
|
|
(81
|
)
|
|
3,040
|
|
|
(863
|
)
|
|
2,177
|
|
||||||
Total derivative contracts
|
|
$
|
70,400,171
|
|
|
$
|
528,921
|
|
|
$
|
(225,482
|
)
|
|
$
|
303,439
|
|
|
$
|
(52,311
|
)
|
|
$
|
251,128
|
|
1
|
Notional amounts for commodity contracts are converted into dollar-equivalent amounts based on dollar prices at the inception of the contract.
|
|
|
Assets
|
||||||||||||||||||||||
|
|
Notional1
|
|
Gross Fair Value
|
|
Netting Adjustments
|
|
Net Fair Value Before Cash Collateral
|
|
Cash Collateral
|
|
Fair Value Net of Cash Collateral
|
||||||||||||
Customer risk management programs:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Interest rate contracts
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
To-be-announced residential mortgage-backed securities
|
|
$
|
10,671,151
|
|
|
$
|
92,231
|
|
|
$
|
(26,787
|
)
|
|
$
|
65,444
|
|
|
$
|
—
|
|
|
$
|
65,444
|
|
Interest rate swaps
|
|
1,924,131
|
|
|
36,112
|
|
|
(6,688
|
)
|
|
29,424
|
|
|
(7,934
|
)
|
|
21,490
|
|
||||||
Energy contracts
|
|
1,472,209
|
|
|
206,418
|
|
|
(60,983
|
)
|
|
145,435
|
|
|
(106,752
|
)
|
|
38,683
|
|
||||||
Agricultural contracts
|
|
21,210
|
|
|
842
|
|
|
(201
|
)
|
|
641
|
|
|
—
|
|
|
641
|
|
||||||
Foreign exchange contracts
|
|
184,990
|
|
|
183,759
|
|
|
—
|
|
|
183,759
|
|
|
—
|
|
|
183,759
|
|
||||||
Equity option contracts
|
|
89,085
|
|
|
2,021
|
|
|
—
|
|
|
2,021
|
|
|
(648
|
)
|
|
1,373
|
|
||||||
Total customer risk management programs
|
|
14,362,776
|
|
|
521,383
|
|
|
(94,659
|
)
|
|
426,724
|
|
|
(115,334
|
)
|
|
311,390
|
|
||||||
Trading
|
|
15,356,909
|
|
|
45,346
|
|
|
(39,521
|
)
|
|
5,825
|
|
|
—
|
|
|
5,825
|
|
||||||
Internal risk management programs
|
|
553,079
|
|
|
5,064
|
|
|
(1,350
|
)
|
|
3,714
|
|
|
—
|
|
|
3,714
|
|
||||||
Total derivative contracts
|
|
$
|
30,272,764
|
|
|
$
|
571,793
|
|
|
$
|
(135,530
|
)
|
|
$
|
436,263
|
|
|
$
|
(115,334
|
)
|
|
$
|
320,929
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
|
Liabilities
|
||||||||||||||||||||||
|
|
Notional¹
|
|
Gross Fair Value
|
|
Netting Adjustments
|
|
Net Fair Value Before Cash Collateral
|
|
Cash Collateral
|
|
Fair Value Net of Cash Collateral
|
||||||||||||
Customer risk management programs:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Interest rate contracts
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
To-be-announced residential mortgage-backed securities
|
|
$
|
10,558,151
|
|
|
$
|
90,388
|
|
|
$
|
(26,787
|
)
|
|
$
|
63,601
|
|
|
$
|
(63,596
|
)
|
|
$
|
5
|
|
Interest rate swaps
|
|
1,924,131
|
|
|
36,288
|
|
|
(6,688
|
)
|
|
29,600
|
|
|
(4,110
|
)
|
|
25,490
|
|
||||||
Energy contracts
|
|
1,434,247
|
|
|
202,494
|
|
|
(60,983
|
)
|
|
141,511
|
|
|
(1,490
|
)
|
|
140,021
|
|
||||||
Agricultural contracts
|
|
21,214
|
|
|
812
|
|
|
(201
|
)
|
|
611
|
|
|
—
|
|
|
611
|
|
||||||
Foreign exchange contracts
|
|
177,423
|
|
|
175,922
|
|
|
—
|
|
|
175,922
|
|
|
—
|
|
|
175,922
|
|
||||||
Equity option contracts
|
|
89,085
|
|
|
2,021
|
|
|
—
|
|
|
2,021
|
|
|
—
|
|
|
2,021
|
|
||||||
Total customer risk management programs
|
|
14,204,251
|
|
|
507,925
|
|
|
(94,659
|
)
|
|
413,266
|
|
|
(69,196
|
)
|
|
344,070
|
|
||||||
Trading
|
|
19,374,294
|
|
|
56,983
|
|
|
(39,521
|
)
|
|
17,462
|
|
|
—
|
|
|
17,462
|
|
||||||
Internal risk management programs
|
|
260,348
|
|
|
9,439
|
|
|
(1,350
|
)
|
|
8,089
|
|
|
(7,315
|
)
|
|
774
|
|
||||||
Total derivative contracts
|
|
$
|
33,838,893
|
|
|
$
|
574,347
|
|
|
$
|
(135,530
|
)
|
|
$
|
438,817
|
|
|
$
|
(76,511
|
)
|
|
$
|
362,306
|
|
1
|
Notional amounts for commodity contracts are converted into dollar-equivalent amounts based on dollar prices at the inception of the contract.
|
|
|
Year Ended December 31,
|
||||||||||||||||||||||
|
|
2019
|
|
2018
|
|
2017
|
||||||||||||||||||
|
|
Brokerage
and Trading Revenue
|
|
Gain (Loss)
on Derivatives, Net
|
|
Brokerage
and Trading
Revenue
|
|
Gain (Loss)
on Derivatives,
Net
|
|
Brokerage
and Trading
Revenue
|
|
Gain (Loss)
on Derivatives,
Net
|
||||||||||||
Customer risk management programs:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Interest rate contracts
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
To-be-announced residential mortgage-backed securities
|
|
$
|
9,579
|
|
|
$
|
—
|
|
|
$
|
27,190
|
|
|
$
|
—
|
|
|
$
|
34,532
|
|
|
$
|
—
|
|
Interest rate swaps
|
|
3,647
|
|
|
—
|
|
|
2,614
|
|
|
—
|
|
|
2,647
|
|
|
—
|
|
||||||
Energy contracts
|
|
5,064
|
|
|
—
|
|
|
8,443
|
|
|
—
|
|
|
5,536
|
|
|
—
|
|
||||||
Agricultural contracts
|
|
28
|
|
|
—
|
|
|
53
|
|
|
—
|
|
|
79
|
|
|
—
|
|
||||||
Foreign exchange contracts
|
|
623
|
|
|
—
|
|
|
535
|
|
|
—
|
|
|
1,352
|
|
|
—
|
|
||||||
Equity option contracts
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Total customer risk management programs
|
|
18,941
|
|
|
—
|
|
|
38,835
|
|
|
—
|
|
|
44,146
|
|
|
—
|
|
||||||
Trading
|
|
13,999
|
|
|
—
|
|
|
(13,643
|
)
|
|
—
|
|
|
4,615
|
|
|
—
|
|
||||||
Internal risk management programs
|
|
—
|
|
|
14,951
|
|
|
—
|
|
|
(422
|
)
|
|
—
|
|
|
779
|
|
||||||
Total derivative contracts
|
|
$
|
32,940
|
|
|
$
|
14,951
|
|
|
$
|
25,192
|
|
|
$
|
(422
|
)
|
|
$
|
48,761
|
|
|
$
|
779
|
|
|
|
December 31, 2019
|
|
December 31, 2018
|
||||||||||||||||||||||||||||
|
|
Fixed
Rate
|
|
Variable
Rate
|
|
Non-accrual
|
|
Total
|
|
Fixed
Rate
|
|
Variable
Rate
|
|
Non-accrual
|
|
Total
|
||||||||||||||||
Commercial
|
|
$
|
3,231,485
|
|
|
$
|
10,684,749
|
|
|
$
|
115,416
|
|
|
$
|
14,031,650
|
|
|
$
|
2,251,188
|
|
|
$
|
11,285,049
|
|
|
$
|
99,841
|
|
|
$
|
13,636,078
|
|
Commercial real estate
|
|
1,056,321
|
|
|
3,349,836
|
|
|
27,626
|
|
|
4,433,783
|
|
|
1,477,274
|
|
|
3,265,918
|
|
|
21,621
|
|
|
4,764,813
|
|
||||||||
Residential mortgage
|
|
1,652,653
|
|
|
393,897
|
|
|
37,622
|
|
|
2,084,172
|
|
|
1,830,224
|
|
|
358,254
|
|
|
41,555
|
|
|
2,230,033
|
|
||||||||
Personal
|
|
193,903
|
|
|
1,007,192
|
|
|
287
|
|
|
1,201,382
|
|
|
190,687
|
|
|
834,889
|
|
|
230
|
|
|
1,025,806
|
|
||||||||
Total
|
|
$
|
6,134,362
|
|
|
$
|
15,435,674
|
|
|
$
|
180,951
|
|
|
$
|
21,750,987
|
|
|
$
|
5,749,373
|
|
|
$
|
15,744,110
|
|
|
$
|
163,247
|
|
|
$
|
21,656,730
|
|
Accruing loans past due (90 days)1
|
|
|
|
|
|
|
|
|
|
|
$
|
7,680
|
|
|
|
|
|
|
|
|
|
|
|
$
|
1,338
|
|
||||||
Foregone interest on nonaccrual loans
|
|
|
|
|
|
|
|
$
|
17,409
|
|
|
|
|
|
|
|
|
$
|
15,502
|
|
1
|
Excludes residential mortgage loans guaranteed by agencies of the U.S. government.
|
|
|
Commercial
|
|
Commercial Real Estate
|
|
Residential Mortgage
|
|
Personal
|
|
Nonspecific Allowance
|
|
Total
|
||||||||||||
Allowance for loan losses:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Beginning balance
|
|
$
|
102,226
|
|
|
$
|
60,026
|
|
|
$
|
17,964
|
|
|
$
|
9,473
|
|
|
$
|
17,768
|
|
|
$
|
207,457
|
|
Provision for loan losses
|
|
57,125
|
|
|
(12,046
|
)
|
|
(3,838
|
)
|
|
3,537
|
|
|
(573
|
)
|
|
44,205
|
|
||||||
Loans charged off
|
|
(43,185
|
)
|
|
(1,161
|
)
|
|
(288
|
)
|
|
(6,343
|
)
|
|
—
|
|
|
(50,977
|
)
|
||||||
Recoveries
|
|
2,021
|
|
|
4,986
|
|
|
562
|
|
|
2,505
|
|
|
—
|
|
|
10,074
|
|
||||||
Ending balance
|
|
$
|
118,187
|
|
|
$
|
51,805
|
|
|
$
|
14,400
|
|
|
$
|
9,172
|
|
|
$
|
17,195
|
|
|
$
|
210,759
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Accrual for off-balance sheet credit risk:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Beginning balance
|
|
$
|
1,655
|
|
|
$
|
52
|
|
|
$
|
52
|
|
|
$
|
31
|
|
|
$
|
—
|
|
|
$
|
1,790
|
|
Provision for off-balance sheet credit risk
|
|
(221
|
)
|
|
55
|
|
|
(8
|
)
|
|
(31
|
)
|
|
—
|
|
|
(205
|
)
|
||||||
Ending balance
|
|
$
|
1,434
|
|
|
$
|
107
|
|
|
$
|
44
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
1,585
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Total provision for credit losses
|
|
$
|
56,904
|
|
|
$
|
(11,991
|
)
|
|
$
|
(3,846
|
)
|
|
$
|
3,506
|
|
|
$
|
(573
|
)
|
|
$
|
44,000
|
|
|
|
Commercial
|
|
Commercial Real Estate
|
|
Residential Mortgage
|
|
Personal
|
|
Nonspecific Allowance
|
|
Total
|
||||||||||||
Allowance for loan losses:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Beginning balance
|
|
$
|
124,269
|
|
|
$
|
56,621
|
|
|
$
|
18,451
|
|
|
$
|
9,124
|
|
|
$
|
22,217
|
|
|
$
|
230,682
|
|
Provision for loan losses
|
|
12,521
|
|
|
(147
|
)
|
|
(1,156
|
)
|
|
3,175
|
|
|
(4,449
|
)
|
|
9,944
|
|
||||||
Loans charged off
|
|
(37,880
|
)
|
|
—
|
|
|
(378
|
)
|
|
(5,325
|
)
|
|
—
|
|
|
(43,583
|
)
|
||||||
Recoveries
|
|
3,316
|
|
|
3,552
|
|
|
1,047
|
|
|
2,499
|
|
|
—
|
|
|
10,414
|
|
||||||
Ending balance
|
|
$
|
102,226
|
|
|
$
|
60,026
|
|
|
$
|
17,964
|
|
|
$
|
9,473
|
|
|
$
|
17,768
|
|
|
$
|
207,457
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Accrual for off-balance sheet credit risk:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Beginning balance
|
|
$
|
3,644
|
|
|
$
|
45
|
|
|
$
|
43
|
|
|
$
|
2
|
|
|
$
|
—
|
|
|
$
|
3,734
|
|
Provision for off-balance sheet credit risk
|
|
(1,989
|
)
|
|
7
|
|
|
9
|
|
|
29
|
|
|
—
|
|
|
(1,944
|
)
|
||||||
Ending balance
|
|
$
|
1,655
|
|
|
$
|
52
|
|
|
$
|
52
|
|
|
$
|
31
|
|
|
$
|
—
|
|
|
$
|
1,790
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Total provision for credit losses
|
|
$
|
10,532
|
|
|
$
|
(140
|
)
|
|
$
|
(1,147
|
)
|
|
$
|
3,204
|
|
|
$
|
(4,449
|
)
|
|
$
|
8,000
|
|
|
|
Commercial
|
|
Commercial Real Estate
|
|
Residential Mortgage
|
|
Personal
|
|
Nonspecific Allowance
|
|
Total
|
||||||||||||
Allowance for loan losses:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Beginning balance
|
|
$
|
140,213
|
|
|
$
|
50,749
|
|
|
$
|
18,224
|
|
|
$
|
8,773
|
|
|
$
|
28,200
|
|
|
$
|
246,159
|
|
Provision for loan losses
|
|
(595
|
)
|
|
4,008
|
|
|
116
|
|
|
2,964
|
|
|
(5,983
|
)
|
|
510
|
|
||||||
Loans charged off
|
|
(19,810
|
)
|
|
(76
|
)
|
|
(649
|
)
|
|
(5,064
|
)
|
|
—
|
|
|
(25,599
|
)
|
||||||
Recoveries
|
|
4,461
|
|
|
1,940
|
|
|
760
|
|
|
2,451
|
|
|
—
|
|
|
9,612
|
|
||||||
Ending balance
|
|
$
|
124,269
|
|
|
$
|
56,621
|
|
|
$
|
18,451
|
|
|
$
|
9,124
|
|
|
$
|
22,217
|
|
|
$
|
230,682
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Accrual for off-balance sheet credit risk:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Beginning balance
|
|
$
|
11,063
|
|
|
$
|
123
|
|
|
$
|
50
|
|
|
$
|
8
|
|
|
$
|
—
|
|
|
$
|
11,244
|
|
Provision for off-balance sheet credit risk
|
|
(7,419
|
)
|
|
(78
|
)
|
|
(7
|
)
|
|
(6
|
)
|
|
—
|
|
|
(7,510
|
)
|
||||||
Ending balance
|
|
$
|
3,644
|
|
|
$
|
45
|
|
|
$
|
43
|
|
|
$
|
2
|
|
|
$
|
—
|
|
|
$
|
3,734
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Total provision for credit losses
|
|
$
|
(8,014
|
)
|
|
$
|
3,930
|
|
|
$
|
109
|
|
|
$
|
2,958
|
|
|
$
|
(5,983
|
)
|
|
$
|
(7,000
|
)
|
|
|
Collectively Measured
for Impairment
|
|
Individually Measured
for Impairment
|
|
Total
|
||||||||||||||||||
|
|
Recorded Investment
|
|
Related Allowance
|
|
Recorded Investment
|
|
Related Allowance
|
|
Recorded Investment
|
|
Related
Allowance
|
||||||||||||
Commercial
|
|
$
|
13,916,234
|
|
|
$
|
100,773
|
|
|
$
|
115,416
|
|
|
$
|
17,414
|
|
|
$
|
14,031,650
|
|
|
$
|
118,187
|
|
Commercial real estate
|
|
4,406,157
|
|
|
51,805
|
|
|
27,626
|
|
|
—
|
|
|
4,433,783
|
|
|
51,805
|
|
||||||
Residential mortgage
|
|
2,046,550
|
|
|
14,400
|
|
|
37,622
|
|
|
—
|
|
|
2,084,172
|
|
|
14,400
|
|
||||||
Personal
|
|
1,201,095
|
|
|
9,172
|
|
|
287
|
|
|
—
|
|
|
1,201,382
|
|
|
9,172
|
|
||||||
Total
|
|
21,570,036
|
|
|
176,150
|
|
|
180,951
|
|
|
17,414
|
|
|
21,750,987
|
|
|
193,564
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Nonspecific allowance
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
17,195
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Total
|
|
$
|
21,570,036
|
|
|
$
|
176,150
|
|
|
$
|
180,951
|
|
|
$
|
17,414
|
|
|
$
|
21,750,987
|
|
|
$
|
210,759
|
|
|
|
Collectively Measured
for Impairment
|
|
Individually Measured
for Impairment
|
|
Total
|
||||||||||||||||||
|
|
Recorded Investment
|
|
Related Allowance
|
|
Recorded Investment
|
|
Related Allowance
|
|
Recorded Investment
|
|
Related
Allowance
|
||||||||||||
Commercial
|
|
$
|
13,536,237
|
|
|
$
|
93,494
|
|
|
$
|
99,841
|
|
|
$
|
8,732
|
|
|
$
|
13,636,078
|
|
|
$
|
102,226
|
|
Commercial real estate
|
|
4,743,192
|
|
|
60,026
|
|
|
21,621
|
|
|
—
|
|
|
4,764,813
|
|
|
60,026
|
|
||||||
Residential mortgage
|
|
2,188,478
|
|
|
17,964
|
|
|
41,555
|
|
|
—
|
|
|
2,230,033
|
|
|
17,964
|
|
||||||
Personal
|
|
1,025,576
|
|
|
9,473
|
|
|
230
|
|
|
—
|
|
|
1,025,806
|
|
|
9,473
|
|
||||||
Total
|
|
21,493,483
|
|
|
180,957
|
|
|
163,247
|
|
|
8,732
|
|
|
21,656,730
|
|
|
189,689
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Nonspecific allowance
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
17,768
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Total
|
|
$
|
21,493,483
|
|
|
$
|
180,957
|
|
|
$
|
163,247
|
|
|
$
|
8,732
|
|
|
$
|
21,656,730
|
|
|
$
|
207,457
|
|
|
|
Internally Risk Graded
|
|
Non-Graded
|
|
Total
|
||||||||||||||||||
|
|
Recorded Investment
|
|
Related Allowance
|
|
Recorded Investment
|
|
Related Allowance
|
|
Recorded Investment
|
|
Related
Allowance
|
||||||||||||
Commercial
|
|
$
|
13,997,538
|
|
|
$
|
117,236
|
|
|
$
|
34,112
|
|
|
$
|
951
|
|
|
$
|
14,031,650
|
|
|
$
|
118,187
|
|
Commercial real estate
|
|
4,433,783
|
|
|
51,805
|
|
|
—
|
|
|
—
|
|
|
4,433,783
|
|
|
51,805
|
|
||||||
Residential mortgage
|
|
279,113
|
|
|
3,085
|
|
|
1,805,059
|
|
|
11,315
|
|
|
2,084,172
|
|
|
14,400
|
|
||||||
Personal
|
|
1,116,297
|
|
|
7,003
|
|
|
85,085
|
|
|
2,169
|
|
|
1,201,382
|
|
|
9,172
|
|
||||||
Total
|
|
19,826,731
|
|
|
179,129
|
|
|
1,924,256
|
|
|
14,435
|
|
|
21,750,987
|
|
|
193,564
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Nonspecific allowance
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
17,195
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Total
|
|
$
|
19,826,731
|
|
|
$
|
179,129
|
|
|
$
|
1,924,256
|
|
|
$
|
14,435
|
|
|
$
|
21,750,987
|
|
|
$
|
210,759
|
|
|
|
Internally Risk Graded
|
|
Non-Graded
|
|
Total
|
||||||||||||||||||
|
|
Recorded Investment
|
|
Related Allowance
|
|
Recorded Investment
|
|
Related Allowance
|
|
Recorded Investment
|
|
Related
Allowance
|
||||||||||||
Commercial
|
|
$
|
13,586,654
|
|
|
$
|
101,303
|
|
|
$
|
49,424
|
|
|
$
|
923
|
|
|
$
|
13,636,078
|
|
|
$
|
102,226
|
|
Commercial real estate
|
|
4,764,813
|
|
|
60,026
|
|
|
—
|
|
|
—
|
|
|
4,764,813
|
|
|
60,026
|
|
||||||
Residential mortgage
|
|
505,046
|
|
|
3,310
|
|
|
1,724,987
|
|
|
14,654
|
|
|
2,230,033
|
|
|
17,964
|
|
||||||
Personal
|
|
948,890
|
|
|
6,633
|
|
|
76,916
|
|
|
2,840
|
|
|
1,025,806
|
|
|
9,473
|
|
||||||
Total
|
|
19,805,403
|
|
|
171,272
|
|
|
1,851,327
|
|
|
18,417
|
|
|
21,656,730
|
|
|
189,689
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Nonspecific allowance
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
17,768
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Total
|
|
$
|
19,805,403
|
|
|
$
|
171,272
|
|
|
$
|
1,851,327
|
|
|
$
|
18,417
|
|
|
$
|
21,656,730
|
|
|
$
|
207,457
|
|
|
|
Internally Risk Graded
|
|
Non-Graded
|
|
|
||||||||||||||||||||||
|
|
Performing
|
|
|
|
|
|
|
|
|
||||||||||||||||||
|
|
Pass
|
|
Other Loans Especially Mentioned
|
|
Accruing
Substandard
|
|
Nonaccrual
|
|
Performing
|
|
Nonaccrual
|
|
Total
|
||||||||||||||
Commercial:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Energy
|
|
$
|
3,700,406
|
|
|
$
|
117,298
|
|
|
$
|
63,951
|
|
|
$
|
91,722
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
3,973,377
|
|
Services
|
|
3,050,946
|
|
|
29,943
|
|
|
33,791
|
|
|
7,483
|
|
|
—
|
|
|
—
|
|
|
3,122,163
|
|
|||||||
Wholesale/retail
|
|
1,749,023
|
|
|
5,281
|
|
|
5,399
|
|
|
1,163
|
|
|
—
|
|
|
—
|
|
|
1,760,866
|
|
|||||||
Manufacturing
|
|
623,219
|
|
|
18,214
|
|
|
13,883
|
|
|
10,133
|
|
|
—
|
|
|
—
|
|
|
665,449
|
|
|||||||
Healthcare
|
|
2,995,514
|
|
|
13,117
|
|
|
20,805
|
|
|
4,480
|
|
|
—
|
|
|
—
|
|
|
3,033,916
|
|
|||||||
Public finance
|
|
709,868
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
709,868
|
|
|||||||
Other commercial and industrial
|
|
709,729
|
|
|
4,028
|
|
|
17,744
|
|
|
398
|
|
|
34,075
|
|
|
37
|
|
|
766,011
|
|
|||||||
Total commercial
|
|
13,538,705
|
|
|
187,881
|
|
|
155,573
|
|
|
115,379
|
|
|
34,075
|
|
|
37
|
|
|
14,031,650
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Commercial real estate:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Residential construction and land development
|
|
150,529
|
|
|
—
|
|
|
—
|
|
|
350
|
|
|
—
|
|
|
—
|
|
|
150,879
|
|
|||||||
Retail
|
|
743,343
|
|
|
12,067
|
|
|
1,243
|
|
|
18,868
|
|
|
—
|
|
|
—
|
|
|
775,521
|
|
|||||||
Office
|
|
923,202
|
|
|
5,177
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
928,379
|
|
|||||||
Multifamily
|
|
1,257,005
|
|
|
1,604
|
|
|
95
|
|
|
6,858
|
|
|
—
|
|
|
—
|
|
|
1,265,562
|
|
|||||||
Industrial
|
|
852,539
|
|
|
1,658
|
|
|
1,011
|
|
|
909
|
|
|
—
|
|
|
—
|
|
|
856,117
|
|
|||||||
Other commercial real estate
|
|
455,045
|
|
|
1,639
|
|
|
—
|
|
|
641
|
|
|
—
|
|
|
—
|
|
|
457,325
|
|
|||||||
Total commercial real estate
|
|
4,381,663
|
|
|
22,145
|
|
|
2,349
|
|
|
27,626
|
|
|
—
|
|
|
—
|
|
|
4,433,783
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Residential mortgage:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Permanent mortgage
|
|
276,138
|
|
|
78
|
|
|
2,404
|
|
|
493
|
|
|
758,260
|
|
|
19,948
|
|
|
1,057,321
|
|
|||||||
Permanent mortgages guaranteed by U.S. government agencies
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
191,694
|
|
|
6,100
|
|
|
197,794
|
|
|||||||
Home equity
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
817,976
|
|
|
11,081
|
|
|
829,057
|
|
|||||||
Total residential mortgage
|
|
276,138
|
|
|
78
|
|
|
2,404
|
|
|
493
|
|
|
1,767,930
|
|
|
37,129
|
|
|
2,084,172
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Personal
|
|
1,116,196
|
|
|
45
|
|
|
—
|
|
|
56
|
|
|
84,853
|
|
|
232
|
|
|
1,201,382
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Total
|
|
$
|
19,312,702
|
|
|
$
|
210,149
|
|
|
$
|
160,326
|
|
|
$
|
143,554
|
|
|
$
|
1,886,858
|
|
|
$
|
37,398
|
|
|
$
|
21,750,987
|
|
|
|
Internally Risk Graded
|
|
Non-Graded
|
|
|
|||||||||||||||||||||
|
|
Performing
|
|
|
|
|
|
|
|
|
|||||||||||||||||
|
|
Pass
|
|
Other Loans Especially Mentioned
|
|
Accruing Substandard
|
|
Nonaccrual
|
|
Performing
|
|
Nonaccrual
|
|
Total
|
|||||||||||||
Commercial:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Energy
|
|
$
|
3,414,039
|
|
|
$
|
42,176
|
|
|
$
|
86,624
|
|
|
47,494
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
3,590,333
|
|
Services
|
|
3,167,203
|
|
|
49,761
|
|
|
32,661
|
|
|
8,567
|
|
|
—
|
|
|
—
|
|
|
3,258,192
|
|
||||||
Wholesale/retail
|
|
1,593,902
|
|
|
18,809
|
|
|
7,131
|
|
|
1,316
|
|
|
—
|
|
|
—
|
|
|
1,621,158
|
|
||||||
Manufacturing
|
|
668,438
|
|
|
30,934
|
|
|
22,230
|
|
|
8,919
|
|
|
—
|
|
|
—
|
|
|
730,521
|
|
||||||
Healthcare
|
|
2,730,121
|
|
|
14,920
|
|
|
37,698
|
|
|
16,538
|
|
|
—
|
|
|
—
|
|
|
2,799,277
|
|
||||||
Public finance
|
|
804,550
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
804,550
|
|
||||||
Other commercial and industrial
|
|
756,815
|
|
|
1,266
|
|
|
7,588
|
|
|
16,954
|
|
|
49,371
|
|
|
53
|
|
|
832,047
|
|
||||||
Total commercial
|
|
13,135,068
|
|
|
157,866
|
|
|
193,932
|
|
|
99,788
|
|
|
49,371
|
|
|
53
|
|
|
13,636,078
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Commercial real estate:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Residential construction and land development
|
|
148,234
|
|
|
—
|
|
|
—
|
|
|
350
|
|
|
—
|
|
|
—
|
|
|
148,584
|
|
||||||
Retail
|
|
885,588
|
|
|
11,926
|
|
|
1,289
|
|
|
20,279
|
|
|
—
|
|
|
—
|
|
|
919,082
|
|
||||||
Office
|
|
1,059,334
|
|
|
10,532
|
|
|
3,054
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,072,920
|
|
||||||
Multifamily
|
|
1,287,471
|
|
|
281
|
|
|
12
|
|
|
301
|
|
|
—
|
|
|
—
|
|
|
1,288,065
|
|
||||||
Industrial
|
|
776,898
|
|
|
—
|
|
|
1,208
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
778,106
|
|
||||||
Other commercial real estate
|
|
555,301
|
|
|
1,188
|
|
|
876
|
|
|
691
|
|
|
—
|
|
|
—
|
|
|
558,056
|
|
||||||
Total commercial real estate
|
|
4,712,826
|
|
|
23,927
|
|
|
6,439
|
|
|
21,621
|
|
|
—
|
|
|
—
|
|
|
4,764,813
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Residential mortgage:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Permanent mortgage
|
|
269,678
|
|
|
52
|
|
|
9,730
|
|
|
1,991
|
|
|
819,199
|
|
|
21,960
|
|
|
1,122,610
|
|
||||||
Permanent mortgages guaranteed by U.S. government agencies
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
183,734
|
|
|
7,132
|
|
|
190,866
|
|
||||||
Home equity
|
|
223,298
|
|
|
—
|
|
|
296
|
|
|
—
|
|
|
682,491
|
|
|
10,472
|
|
|
916,557
|
|
||||||
Total residential mortgage
|
|
492,976
|
|
|
52
|
|
|
10,026
|
|
|
1,991
|
|
|
1,685,424
|
|
|
39,564
|
|
|
2,230,033
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Personal
|
|
944,256
|
|
|
115
|
|
|
4,443
|
|
|
76
|
|
|
76,762
|
|
|
154
|
|
|
1,025,806
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total
|
|
$
|
19,285,126
|
|
|
$
|
181,960
|
|
|
$
|
214,840
|
|
|
123,476
|
|
|
$
|
1,811,557
|
|
|
$
|
39,771
|
|
|
$
|
21,656,730
|
|
|
As of December 31, 2019
|
|
Year Ended
|
||||||||||||||||||||||||
|
|
|
Recorded Investment
|
|
|
|
December 31, 2019
|
||||||||||||||||||||
|
Unpaid
Principal
Balance
|
|
Total
|
|
With No
Allowance |
|
With Allowance
|
|
Related Allowance
|
|
Average Recorded
Investment |
|
Interest Income Recognized
|
||||||||||||||
Commercial:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Energy
|
$
|
149,441
|
|
|
$
|
91,722
|
|
|
$
|
44,244
|
|
|
$
|
47,478
|
|
|
$
|
16,854
|
|
|
$
|
69,119
|
|
|
$
|
—
|
|
Services
|
10,923
|
|
|
7,483
|
|
|
6,301
|
|
|
1,182
|
|
|
240
|
|
|
5,854
|
|
|
—
|
|
|||||||
Wholesale/retail
|
1,980
|
|
|
1,163
|
|
|
902
|
|
|
261
|
|
|
101
|
|
|
916
|
|
|
—
|
|
|||||||
Manufacturing
|
10,848
|
|
|
10,133
|
|
|
9,914
|
|
|
219
|
|
|
219
|
|
|
9,144
|
|
|
—
|
|
|||||||
Healthcare
|
13,774
|
|
|
4,480
|
|
|
4,480
|
|
|
—
|
|
|
—
|
|
|
7,798
|
|
|
—
|
|
|||||||
Public finance
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||||
Other commercial and industrial
|
8,227
|
|
|
435
|
|
|
435
|
|
|
—
|
|
|
—
|
|
|
8,568
|
|
|
—
|
|
|||||||
Total commercial
|
195,193
|
|
|
115,416
|
|
|
66,276
|
|
|
49,140
|
|
|
17,414
|
|
|
101,399
|
|
|
—
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Commercial real estate:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Residential construction and land development
|
1,306
|
|
|
350
|
|
|
350
|
|
|
—
|
|
|
—
|
|
|
350
|
|
|
—
|
|
|||||||
Retail
|
20,265
|
|
|
18,868
|
|
|
18,868
|
|
|
—
|
|
|
—
|
|
|
19,573
|
|
|
—
|
|
|||||||
Office
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||||
Multifamily
|
6,858
|
|
|
6,858
|
|
|
6,858
|
|
|
—
|
|
|
—
|
|
|
3,580
|
|
|
—
|
|
|||||||
Industrial
|
909
|
|
|
909
|
|
|
909
|
|
|
—
|
|
|
—
|
|
|
454
|
|
|
—
|
|
|||||||
Other commercial real estate
|
801
|
|
|
641
|
|
|
641
|
|
|
—
|
|
|
—
|
|
|
666
|
|
|
—
|
|
|||||||
Total commercial real estate
|
30,139
|
|
|
27,626
|
|
|
27,626
|
|
|
—
|
|
|
—
|
|
|
24,623
|
|
|
—
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Residential mortgage:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Permanent mortgage
|
24,868
|
|
|
20,441
|
|
|
20,441
|
|
|
—
|
|
|
—
|
|
|
22,196
|
|
|
1,198
|
|
|||||||
Permanent mortgage guaranteed by U.S. government agencies1
|
204,187
|
|
|
197,794
|
|
|
197,794
|
|
|
—
|
|
|
—
|
|
|
195,009
|
|
|
7,733
|
|
|||||||
Home equity
|
12,967
|
|
|
11,081
|
|
|
11,081
|
|
|
—
|
|
|
—
|
|
|
10,776
|
|
|
—
|
|
|||||||
Total residential mortgage
|
242,022
|
|
|
229,316
|
|
|
229,316
|
|
|
—
|
|
|
—
|
|
|
227,981
|
|
|
8,931
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Personal
|
360
|
|
|
287
|
|
|
287
|
|
|
—
|
|
|
—
|
|
|
259
|
|
|
—
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Total
|
$
|
467,714
|
|
|
$
|
372,645
|
|
|
$
|
323,505
|
|
|
$
|
49,140
|
|
|
$
|
17,414
|
|
|
$
|
354,262
|
|
|
$
|
8,931
|
|
1
|
All permanent mortgage loans guaranteed by U.S. government agencies are considered impaired as we do not expect full collection of contractual principal and interest. At December 31, 2019, $6.1 million of these loans are nonaccruing and $192 million are accruing based on the guarantee by U.S. government agencies.
|
|
As of December 31, 2018
|
|
Year Ended
|
|||||||||||||||||||||||||
|
|
|
|
Recorded Investment
|
|
|
|
December 31, 2018
|
||||||||||||||||||||
|
|
Unpaid
Principal
Balance
|
|
Total
|
|
With No
Allowance
|
|
With Allowance
|
|
Related Allowance
|
|
Average Recorded
Investment
|
|
Interest Income Recognized
|
||||||||||||||
Commercial:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Energy
|
|
$
|
79,675
|
|
|
$
|
47,494
|
|
|
$
|
18,639
|
|
|
$
|
28,855
|
|
|
$
|
5,362
|
|
|
$
|
69,645
|
|
|
$
|
—
|
|
Services
|
|
13,437
|
|
|
8,567
|
|
|
8,489
|
|
|
78
|
|
|
74
|
|
|
4,509
|
|
|
—
|
|
|||||||
Wholesale/retail
|
|
1,722
|
|
|
1,316
|
|
|
1,015
|
|
|
301
|
|
|
101
|
|
|
1,784
|
|
|
—
|
|
|||||||
Manufacturing
|
|
10,055
|
|
|
8,919
|
|
|
8,673
|
|
|
246
|
|
|
246
|
|
|
7,249
|
|
|
—
|
|
|||||||
Healthcare
|
|
24,319
|
|
|
16,538
|
|
|
10,563
|
|
|
5,975
|
|
|
2,949
|
|
|
14,297
|
|
|
—
|
|
|||||||
Public finance
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||||
Other commercial and industrial
|
|
26,955
|
|
|
17,007
|
|
|
17,007
|
|
|
—
|
|
|
—
|
|
|
17,976
|
|
|
—
|
|
|||||||
Total commercial
|
|
156,163
|
|
|
99,841
|
|
|
64,386
|
|
|
35,455
|
|
|
8,732
|
|
|
115,460
|
|
|
—
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Commercial real estate:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Residential construction and land development
|
|
1,306
|
|
|
350
|
|
|
350
|
|
|
—
|
|
|
—
|
|
|
1,091
|
|
|
—
|
|
|||||||
Retail
|
|
27,680
|
|
|
20,279
|
|
|
20,279
|
|
|
—
|
|
|
—
|
|
|
10,278
|
|
|
—
|
|
|||||||
Office
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
137
|
|
|
—
|
|
|||||||
Multifamily
|
|
301
|
|
|
301
|
|
|
301
|
|
|
—
|
|
|
—
|
|
|
151
|
|
|
—
|
|
|||||||
Industrial
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||||
Other commercial real estate
|
|
851
|
|
|
691
|
|
|
691
|
|
|
—
|
|
|
—
|
|
|
581
|
|
|
—
|
|
|||||||
Total commercial real estate
|
|
30,138
|
|
|
21,621
|
|
|
21,621
|
|
|
—
|
|
|
—
|
|
|
12,238
|
|
|
—
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Residential mortgage:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Permanent mortgage
|
|
28,716
|
|
|
23,951
|
|
|
23,951
|
|
|
—
|
|
|
—
|
|
|
24,572
|
|
|
1,233
|
|
|||||||
Permanent mortgage guaranteed by U.S. government agencies1
|
|
196,296
|
|
|
190,866
|
|
|
190,866
|
|
|
—
|
|
|
—
|
|
|
180,813
|
|
|
7,172
|
|
|||||||
Home equity
|
|
12,196
|
|
|
10,472
|
|
|
10,472
|
|
|
—
|
|
|
—
|
|
|
11,774
|
|
|
—
|
|
|||||||
Total residential mortgage
|
|
237,208
|
|
|
225,289
|
|
|
225,289
|
|
|
—
|
|
|
—
|
|
|
217,159
|
|
|
8,405
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Personal
|
|
278
|
|
|
230
|
|
|
230
|
|
|
—
|
|
|
—
|
|
|
250
|
|
|
—
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Total
|
|
$
|
423,787
|
|
|
$
|
346,981
|
|
|
$
|
311,526
|
|
|
$
|
35,455
|
|
|
$
|
8,732
|
|
|
$
|
345,107
|
|
|
$
|
8,405
|
|
1
|
All permanent mortgage loans guaranteed by U.S. government agencies are considered impaired as we do not expect full collection of contractual principal and interest. At December 31, 2018, $7.1 million of these loans are nonaccruing and $184 million are accruing based on the guarantee by U.S. government agencies.
|
|
|
|
|
Past Due
|
|
|
|
|
|||||||||||||||
|
|
Current
|
|
30 to 59
Days
|
|
60 to 89
Days
|
|
90 Days
or More
|
|
Nonaccrual
|
|
Total
|
|||||||||||
Commercial:
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Energy
|
|
$
|
3,881,244
|
|
|
$
|
401
|
|
|
10
|
|
|
$
|
—
|
|
|
$
|
91,722
|
|
|
$
|
3,973,377
|
|
Services
|
|
3,105,621
|
|
|
1,737
|
|
|
523
|
|
|
6,799
|
|
|
7,483
|
|
|
3,122,163
|
|
|||||
Wholesale/retail
|
|
1,758,878
|
|
|
712
|
|
|
113
|
|
|
—
|
|
|
1,163
|
|
|
1,760,866
|
|
|||||
Manufacturing
|
|
654,329
|
|
|
410
|
|
|
190
|
|
|
387
|
|
|
10,133
|
|
|
665,449
|
|
|||||
Healthcare
|
|
3,027,329
|
|
|
2,039
|
|
|
—
|
|
|
68
|
|
|
4,480
|
|
|
3,033,916
|
|
|||||
Public finance
|
|
707,638
|
|
|
2,230
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
709,868
|
|
|||||
Other commercial and industrial
|
|
764,390
|
|
|
414
|
|
|
772
|
|
|
—
|
|
|
435
|
|
|
766,011
|
|
|||||
Total commercial
|
|
13,899,429
|
|
|
7,943
|
|
|
1,608
|
|
|
7,254
|
|
|
115,416
|
|
|
14,031,650
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Commercial real estate:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Residential construction and land development
|
|
147,379
|
|
|
3,093
|
|
|
—
|
|
|
57
|
|
|
350
|
|
|
150,879
|
|
|||||
Retail
|
|
756,653
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
18,868
|
|
|
775,521
|
|
|||||
Office
|
|
928,379
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
928,379
|
|
|||||
Multifamily
|
|
1,258,704
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
6,858
|
|
|
1,265,562
|
|
|||||
Industrial
|
|
855,208
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
909
|
|
|
856,117
|
|
|||||
Other commercial real estate
|
|
454,253
|
|
|
1,827
|
|
|
250
|
|
|
354
|
|
|
641
|
|
|
457,325
|
|
|||||
Total commercial real estate
|
|
4,400,576
|
|
|
4,920
|
|
|
250
|
|
|
411
|
|
|
27,626
|
|
|
4,433,783
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Residential mortgage:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Permanent mortgage
|
|
1,034,716
|
|
|
2,011
|
|
|
153
|
|
|
—
|
|
|
20,441
|
|
|
1,057,321
|
|
|||||
Permanent mortgages guaranteed by U.S. government agencies
|
|
46,898
|
|
|
24,203
|
|
|
18,187
|
|
|
102,406
|
|
|
6,100
|
|
|
197,794
|
|
|||||
Home equity
|
|
814,325
|
|
|
3,343
|
|
|
308
|
|
|
—
|
|
|
11,081
|
|
|
829,057
|
|
|||||
Total residential mortgage
|
|
1,895,939
|
|
|
29,557
|
|
|
18,648
|
|
|
102,406
|
|
|
37,622
|
|
|
2,084,172
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Personal
|
|
1,196,362
|
|
|
4,664
|
|
|
54
|
|
|
15
|
|
|
287
|
|
|
1,201,382
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total
|
|
$
|
21,392,306
|
|
|
$
|
47,084
|
|
|
20,560
|
|
|
$
|
110,086
|
|
|
$
|
180,951
|
|
|
$
|
21,750,987
|
|
|
|
|
|
Past Due
|
|
|
|
|
|||||||||||||||
|
|
Current
|
|
30 to 59
Days
|
|
60 to 89
Days
|
|
90 Days
or More
|
|
Nonaccrual
|
|
Total
|
|||||||||||
Commercial:
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Energy
|
|
$
|
3,542,839
|
|
|
$
|
—
|
|
|
—
|
|
|
$
|
—
|
|
|
$
|
47,494
|
|
|
$
|
3,590,333
|
|
Services
|
|
3,237,578
|
|
|
6,009
|
|
|
6,038
|
|
|
—
|
|
|
8,567
|
|
|
3,258,192
|
|
|||||
Wholesale/retail
|
|
1,619,290
|
|
|
515
|
|
|
37
|
|
|
—
|
|
|
1,316
|
|
|
1,621,158
|
|
|||||
Manufacturing
|
|
721,204
|
|
|
392
|
|
|
6
|
|
|
—
|
|
|
8,919
|
|
|
730,521
|
|
|||||
Healthcare
|
|
2,781,944
|
|
|
241
|
|
|
—
|
|
|
554
|
|
|
16,538
|
|
|
2,799,277
|
|
|||||
Public finance
|
|
804,550
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
804,550
|
|
|||||
Other commercial and industrial
|
|
814,489
|
|
|
518
|
|
|
25
|
|
|
8
|
|
|
17,007
|
|
|
832,047
|
|
|||||
Total commercial
|
|
13,521,894
|
|
|
7,675
|
|
|
6,106
|
|
|
562
|
|
|
99,841
|
|
|
13,636,078
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Commercial real estate:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Residential construction and land development
|
|
147,705
|
|
|
249
|
|
|
280
|
|
|
—
|
|
|
350
|
|
|
148,584
|
|
|||||
Retail
|
|
884,424
|
|
|
14,379
|
|
|
—
|
|
|
—
|
|
|
20,279
|
|
|
919,082
|
|
|||||
Office
|
|
1,072,920
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,072,920
|
|
|||||
Multifamily
|
|
1,287,483
|
|
|
281
|
|
|
—
|
|
|
—
|
|
|
301
|
|
|
1,288,065
|
|
|||||
Industrial
|
|
776,898
|
|
|
1,208
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
778,106
|
|
|||||
Other commercial real estate
|
|
556,239
|
|
|
412
|
|
|
—
|
|
|
714
|
|
|
691
|
|
|
558,056
|
|
|||||
Total commercial real estate
|
|
4,725,669
|
|
|
16,529
|
|
|
280
|
|
|
714
|
|
|
21,621
|
|
|
4,764,813
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Residential mortgage:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Permanent mortgage
|
|
1,095,097
|
|
|
3,196
|
|
|
366
|
|
|
—
|
|
|
23,951
|
|
|
1,122,610
|
|
|||||
Permanent mortgages guaranteed by U.S. government agencies
|
|
37,459
|
|
|
24,369
|
|
|
16,345
|
|
|
105,561
|
|
|
7,132
|
|
|
190,866
|
|
|||||
Home equity
|
|
904,572
|
|
|
1,102
|
|
|
352
|
|
|
59
|
|
|
10,472
|
|
|
916,557
|
|
|||||
Total residential mortgage
|
|
2,037,128
|
|
|
28,667
|
|
|
17,063
|
|
|
105,620
|
|
|
41,555
|
|
|
2,230,033
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Personal
|
|
1,024,298
|
|
|
479
|
|
|
796
|
|
|
3
|
|
|
230
|
|
|
1,025,806
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total
|
|
$
|
21,308,989
|
|
|
$
|
53,350
|
|
|
24,245
|
|
|
$
|
106,899
|
|
|
$
|
163,247
|
|
|
$
|
21,656,730
|
|
|
|
December 31,
|
||||||
|
|
2019
|
|
2018
|
||||
Land
|
|
$
|
69,960
|
|
|
$
|
70,575
|
|
Buildings and improvements
|
|
421,952
|
|
|
266,733
|
|
||
Software and related integration
|
|
98,487
|
|
|
150,207
|
|
||
Furniture and equipment
|
|
135,153
|
|
|
129,988
|
|
||
Construction in progress
|
|
53,498
|
|
|
27,514
|
|
||
Premises and equipment
|
|
779,050
|
|
|
645,017
|
|
||
Less accumulated depreciation
|
|
243,531
|
|
|
314,984
|
|
||
Premises and equipment, net of accumulated depreciation
|
|
$
|
535,519
|
|
|
$
|
330,033
|
|
|
|
|
|
|
Dec. 31,
|
||||||
|
|
2019
|
|
2018
|
||||
Core deposit premiums
|
|
$
|
103,200
|
|
|
$
|
103,200
|
|
Less accumulated amortization
|
|
19,364
|
|
|
5,032
|
|
||
Net core deposit premiums
|
|
83,836
|
|
|
98,168
|
|
||
|
|
|
|
|
||||
Other identifiable intangible assets
|
|
74,372
|
|
|
63,497
|
|
||
Less accumulated amortization
|
|
32,937
|
|
|
26,816
|
|
||
Net other identifiable intangible assets
|
|
41,435
|
|
|
36,681
|
|
||
|
|
|
|
|
||||
Total intangible assets, net
|
|
$
|
125,271
|
|
|
$
|
134,849
|
|
|
|
Core
Deposit
Premiums
|
|
Other
Identifiable
Intangible Assets
|
|
Total
|
||||||
2020
|
|
$
|
12,892
|
|
|
$
|
7,405
|
|
|
$
|
20,297
|
|
2021
|
|
11,893
|
|
|
6,706
|
|
|
18,599
|
|
|||
2022
|
|
10,981
|
|
|
5,339
|
|
|
16,320
|
|
|||
2023
|
|
10,145
|
|
|
4,298
|
|
|
14,443
|
|
|||
2024
|
|
9,379
|
|
|
3,284
|
|
|
12,663
|
|
|||
Thereafter
|
|
28,546
|
|
|
14,403
|
|
|
42,949
|
|
|||
|
|
$
|
83,836
|
|
|
$
|
41,435
|
|
|
$
|
125,271
|
|
|
|
Commercial Banking
|
|
Consumer Banking
|
|
Wealth
Management
|
|
Funds Management and Other
|
|
Total
|
||||||||||
Balance, December 31, 2017
|
|
313,270
|
|
|
43,458
|
|
|
90,702
|
|
|
—
|
|
|
447,430
|
|
|||||
Goodwill recognized during 20181
|
|
—
|
|
|
—
|
|
|
—
|
|
|
601,833
|
|
|
601,833
|
|
|||||
Balance, December 31, 2018
|
|
313,270
|
|
|
43,458
|
|
|
90,702
|
|
|
601,833
|
|
|
1,049,263
|
|
|||||
Adjustment1
|
|
600,661
|
|
|
—
|
|
|
—
|
|
|
(601,833
|
)
|
|
(1,172
|
)
|
|||||
Balance, December 31, 2019
|
|
$
|
913,931
|
|
|
$
|
43,458
|
|
|
$
|
90,702
|
|
|
$
|
—
|
|
|
$
|
1,048,091
|
|
1
|
Goodwill related to the CoBiz acquisition was not yet allocated to the operating segments as of December 31, 2018 and was included in Funds Management and Other in 2018 then allocated during 2019.
|
|
|
December 31, 2019
|
|
December 31, 2018
|
||||||||||||
|
|
Unpaid Principal Balance/
Notional
|
|
Fair Value
|
|
Unpaid Principal Balance/
Notional
|
|
Fair Value
|
||||||||
Residential mortgage loans held for sale
|
|
$
|
175,117
|
|
|
$
|
177,703
|
|
|
$
|
145,057
|
|
|
$
|
146,971
|
|
Residential mortgage loan commitments
|
|
158,460
|
|
|
5,233
|
|
|
160,848
|
|
|
5,378
|
|
||||
Forward sales contracts
|
|
315,203
|
|
|
(665
|
)
|
|
274,000
|
|
|
(3,128
|
)
|
||||
|
|
|
|
|
$
|
182,271
|
|
|
|
|
|
$
|
149,221
|
|
|
|
Year Ended
|
||||||||||
|
|
2019
|
|
2018
|
|
2017
|
||||||
Production revenue:
|
|
|
|
|
|
|
||||||
Net realized gains on sales of mortgage loans
|
|
$
|
39,730
|
|
|
$
|
36,379
|
|
|
$
|
45,128
|
|
Net change in unrealized gain on mortgage loans held for sale
|
|
672
|
|
|
(674
|
)
|
|
2,031
|
|
|||
Net change in the fair value of mortgage loan commitments
|
|
(145
|
)
|
|
(1,145
|
)
|
|
(3,210
|
)
|
|||
Net change in the fair value of forward sales contracts
|
|
2,463
|
|
|
(2,870
|
)
|
|
(5,451
|
)
|
|||
Total mortgage production revenue
|
|
42,720
|
|
|
31,690
|
|
|
38,498
|
|
|||
Servicing revenue
|
|
64,821
|
|
|
66,097
|
|
|
66,221
|
|
|||
Total mortgage banking revenue
|
|
$
|
107,541
|
|
|
$
|
97,787
|
|
|
$
|
104,719
|
|
|
|
December 31,
|
||||||||||
|
|
2019
|
|
2018
|
|
2017
|
||||||
Number of residential mortgage loans serviced for others
|
|
126,828
|
|
|
132,463
|
|
|
136,528
|
|
|||
Outstanding principal balance of residential mortgage loans serviced for others
|
|
$
|
20,727,106
|
|
|
$
|
21,658,335
|
|
|
$
|
22,046,632
|
|
Weighted average interest rate
|
|
3.98
|
%
|
|
3.99
|
%
|
|
3.94
|
%
|
|||
Remaining contractual term (in months)
|
|
289
|
|
|
293
|
|
|
297
|
|
Balance, December 31, 2016
|
|
$
|
247,073
|
|
Additions, net
|
|
39,149
|
|
|
Change in fair value due to loan runoff
|
|
(33,527
|
)
|
|
Change in fair value due to market changes
|
|
172
|
|
|
Balance, December 31, 2017
|
|
252,867
|
|
|
Additions, net
|
|
35,247
|
|
|
Change in fair value due to loan runoff
|
|
(33,528
|
)
|
|
Change in fair value due to market changes
|
|
4,668
|
|
|
Balance, December 31, 2018
|
|
259,254
|
|
|
Additions, net
|
|
35,128
|
|
|
Change in fair value due to loan runoff
|
|
(38,979
|
)
|
|
Change in fair value due to market changes
|
|
(53,517
|
)
|
|
Balance, December 31, 2019
|
|
$
|
201,886
|
|
|
|
December 31,
|
||
|
|
2019
|
|
2018
|
Discount rate – risk-free rate plus a market premium
|
|
9.81%
|
|
9.90%
|
Prepayment rate - based upon loan interest rate, original term and loan type
|
|
8.28% - 16.05%
|
|
8.05% - 15.74%
|
Loan servicing costs – annually per loan based upon loan type:
|
|
|
|
|
Performing loans
|
|
$68 - $94
|
|
$67 - $93
|
Delinquent loans
|
|
$150 - $500
|
|
$150 - $500
|
Loans in foreclosure
|
|
$1,000 - $4,000
|
|
$1,000 - $4,000
|
Primary/secondary mortgage rate spread
|
|
104 bps
|
|
105 bps
|
Escrow earnings rate – indexed to rates paid on deposit accounts with comparable average life
|
|
1.73%
|
|
2.57%
|
Delinquency rate
|
|
2.73%
|
|
2.74%
|
|
|
Year Ended December 31,
|
||||||||||
|
|
2019
|
|
2018
|
|
2017
|
||||||
Transaction deposits
|
|
$
|
132,854
|
|
|
$
|
65,859
|
|
|
$
|
28,627
|
|
Savings
|
|
677
|
|
|
439
|
|
|
359
|
|
|||
Time:
|
|
|
|
|
|
|
||||||
Certificates of deposits under $100,000
|
|
8,299
|
|
|
5,751
|
|
|
7,702
|
|
|||
Certificates of deposits $100,000 and over
|
|
29,288
|
|
|
19,739
|
|
|
12,393
|
|
|||
Other time deposits
|
|
4,420
|
|
|
3,729
|
|
|
4,722
|
|
|||
Total time
|
|
42,007
|
|
|
29,219
|
|
|
24,817
|
|
|||
Total
|
|
$
|
175,538
|
|
|
$
|
95,517
|
|
|
$
|
53,803
|
|
|
|
As of
|
|
Year Ended
|
|||||||||||||
|
|
December 31, 2019
|
|
December 31, 2019
|
|||||||||||||
|
|
Balance
|
|
Rate
|
|
Average Balance
|
|
Rate
|
|
Maximum
Outstanding At Any Month End |
|||||||
Funds purchased
|
|
3,390,528
|
|
|
1.53
|
%
|
|
2,438,376
|
|
|
2.08
|
%
|
|
3,390,528
|
|
||
Repurchase agreements
|
|
427,822
|
|
|
0.50
|
%
|
|
399,785
|
|
|
0.57
|
%
|
|
427,822
|
|
||
Other borrowings:
|
|
|
|
|
|
|
|
|
|
|
|||||||
Federal Home Loan Bank advances
|
|
4,500,000
|
|
|
1.79
|
%
|
|
7,122,466
|
|
|
2.44
|
%
|
|
8,000,000
|
|
||
GNMA repurchase liability
|
|
15,417
|
|
|
4.32
|
%
|
|
13,746
|
|
|
4.47
|
%
|
|
19,581
|
|
||
Other
|
|
11,638
|
|
|
5.09
|
%
|
|
11,144
|
|
|
5.30
|
%
|
|
34,676
|
|
||
Total other borrowings
|
|
4,527,055
|
|
|
|
|
7,147,356
|
|
|
2.45
|
%
|
|
|
||||
Subordinated debentures1
|
|
275,923
|
|
|
5.15
|
%
|
|
276,075
|
|
|
5.47
|
%
|
|
275,923
|
|
||
Total other borrowed funds
|
|
$
|
8,621,328
|
|
|
|
|
$
|
10,261,592
|
|
|
2.37
|
%
|
|
|
|
|
As of
|
|
Year Ended
|
|||||||||||||
|
|
December 31, 2018
|
|
December 31, 2018
|
|||||||||||||
|
|
Balance
|
|
Rate
|
|
Average Balance
|
|
Rate
|
|
Maximum
Outstanding At Any Month End |
|||||||
Funds purchased
|
|
402,450
|
|
|
2.34
|
%
|
|
419,322
|
|
|
1.89
|
%
|
|
949,531
|
|
||
Repurchase agreements
|
|
615,961
|
|
|
0.36
|
%
|
|
464,582
|
|
|
0.28
|
%
|
|
615,961
|
|
||
Other borrowings:
|
|
|
|
|
|
|
|
|
|
|
|||||||
Federal Home Loan Bank advances
|
|
6,100,000
|
|
|
2.65
|
%
|
|
6,207,142
|
|
|
2.06
|
%
|
|
6,500,000
|
|
||
GNMA repurchase liability
|
|
15,552
|
|
|
4.43
|
%
|
|
14,783
|
|
|
4.47
|
%
|
|
16,529
|
|
||
Other
|
|
8,838
|
|
|
2.90
|
%
|
|
14,516
|
|
|
2.67
|
%
|
|
20,422
|
|
||
Total other borrowings
|
|
6,124,390
|
|
|
|
|
6,236,441
|
|
|
2.07
|
%
|
|
|
||||
Subordinated debentures1
|
|
275,913
|
|
|
5.34
|
%
|
|
177,884
|
|
|
5.52
|
%
|
|
275,913
|
|
||
Total other borrowed funds
|
|
$
|
7,418,714
|
|
|
|
|
$
|
7,298,229
|
|
|
2.03
|
%
|
|
|
|
|
As of
|
|
Year Ended
|
|||||||||||||
|
|
December 31, 2017
|
|
December 31, 2017
|
|||||||||||||
|
|
Balance
|
|
Rate
|
|
Average Balance
|
|
Rate
|
|
Maximum
Outstanding At Any Month End |
|||||||
Funds purchased
|
|
58,628
|
|
|
1.00
|
%
|
|
58,064
|
|
|
0.73
|
%
|
|
80,967
|
|
||
Repurchase agreements
|
|
516,335
|
|
|
0.17
|
%
|
|
433,791
|
|
|
0.10
|
%
|
|
536,094
|
|
||
Other borrowings:
|
|
|
|
|
|
|
|
|
|
|
|||||||
Federal Home Loan Bank advances
|
|
5,100,000
|
|
|
1.47
|
%
|
|
5,882,466
|
|
|
1.13
|
%
|
|
6,200,000
|
|
||
GNMA repurchase liability
|
|
19,947
|
|
|
4.22
|
%
|
|
20,509
|
|
|
4.59
|
%
|
|
24,139
|
|
||
Other
|
|
14,950
|
|
|
2.61
|
%
|
|
16,317
|
|
|
3.35
|
%
|
|
18,610
|
|
||
Total other borrowings
|
|
5,134,897
|
|
|
|
|
5,919,292
|
|
|
1.15
|
%
|
|
|
||||
Subordinated debentures1
|
|
144,677
|
|
|
5.60
|
%
|
|
147,954
|
|
|
5.57
|
%
|
|
151,875
|
|
||
Total other borrowed funds
|
|
$
|
5,854,537
|
|
|
|
|
$
|
6,559,101
|
|
|
1.18
|
%
|
|
|
2020
|
|
$
|
8,335,742
|
|
2021
|
|
1,244
|
|
|
2022
|
|
575
|
|
|
2023
|
|
1,454
|
|
|
2024
|
|
3,599
|
|
|
Thereafter
|
|
278,714
|
|
|
Total
|
|
$
|
8,621,328
|
|
|
|
December 31, 2019
|
|||||||||||||
|
|
Amortized
|
|
Fair
|
|
Repurchase
|
|
|
|||||||
Security Sold/Maturity
|
|
Cost
|
|
Value
|
|
Liability1
|
|
Rate
|
|||||||
|
|
|
|
|
|
|
|
|
|||||||
U.S. government agency mortgage-backed securities:
|
|
|
|
|
|
|
|
|
|||||||
Overnight1
|
|
$
|
431,939
|
|
|
$
|
435,898
|
|
|
$
|
427,822
|
|
|
0.50
|
%
|
Long-term
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
%
|
|||
Total Agency Securities
|
|
$
|
431,939
|
|
|
$
|
435,898
|
|
|
$
|
427,822
|
|
|
0.50
|
%
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
December 31, 2018
|
|||||||||||||
|
|
Amortized
|
|
Fair
|
|
Repurchase
|
|
|
|||||||
Security Sold/Maturity
|
|
Cost
|
|
Value
|
|
Liability1
|
|
Rate
|
|||||||
|
|
|
|
|
|
|
|
|
|||||||
U.S. government agency mortgage-backed securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Overnight1
|
|
$
|
636,864
|
|
|
$
|
628,229
|
|
|
$
|
615,961
|
|
|
0.36
|
%
|
Long-term
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
%
|
|||
Total Agency Securities
|
|
$
|
636,864
|
|
|
$
|
628,229
|
|
|
$
|
615,961
|
|
|
0.36
|
%
|
1
|
BOK Financial maintains control over the securities underlying overnight repurchase agreements and generally transfers control over securities underlying longer-term dealer repurchase agreements to the respective counterparty.
|
|
December 31,
|
||||||
|
2019
|
|
2018
|
||||
Deferred tax assets:
|
|
|
|
||||
Credit loss reserves
|
$
|
50,611
|
|
|
$
|
49,804
|
|
Lease liability
|
46,084
|
|
|
—
|
|
||
Deferred compensation
|
25,976
|
|
|
25,608
|
|
||
Purchased loan discount
|
18,042
|
|
|
27,283
|
|
||
Unearned fees
|
9,080
|
|
|
9,814
|
|
||
Share-based compensation
|
7,392
|
|
|
4,434
|
|
||
Valuation adjustments
|
1,545
|
|
|
9,619
|
|
||
Available for sale securities mark to market
|
—
|
|
|
24,441
|
|
||
Other
|
26,384
|
|
|
31,489
|
|
||
Total deferred tax assets
|
185,114
|
|
|
182,492
|
|
||
|
|
|
|
||||
Deferred tax liabilities:
|
|
|
|
||||
Mortgage servicing rights
|
48,435
|
|
|
61,844
|
|
||
Right-of-use asset
|
42,180
|
|
|
—
|
|
||
Available for sale securities mark to market
|
33,140
|
|
|
—
|
|
||
Acquired identifiable intangible
|
23,181
|
|
|
28,620
|
|
||
Depreciation
|
18,909
|
|
|
15,966
|
|
||
Lease financing
|
10,720
|
|
|
10,040
|
|
||
Other
|
34,826
|
|
|
30,566
|
|
||
Total deferred tax liabilities
|
211,391
|
|
|
147,036
|
|
||
Net deferred tax assets (liabilities)
|
$
|
(26,277
|
)
|
|
$
|
35,456
|
|
|
Year Ended December 31,
|
||||||||||
|
2019
|
|
2018
|
|
2017
|
||||||
Current income tax expense:
|
|
|
|
|
|
||||||
Federal
|
$
|
110,887
|
|
|
$
|
103,748
|
|
|
$
|
141,607
|
|
State
|
15,088
|
|
|
15,253
|
|
|
14,592
|
|
|||
Total current income tax expense
|
125,975
|
|
|
119,001
|
|
|
156,199
|
|
|||
|
|
|
|
|
|
||||||
Deferred income tax expense:
|
|
|
|
|
|
||||||
Federal
|
3,416
|
|
|
(190
|
)
|
|
25,525
|
|
|||
State
|
792
|
|
|
250
|
|
|
869
|
|
|||
Total deferred income tax expense
|
4,208
|
|
|
60
|
|
|
26,394
|
|
|||
Total income tax expense
|
$
|
130,183
|
|
|
$
|
119,061
|
|
|
$
|
182,593
|
|
|
Year Ended December 31,
|
||||||||||
|
2019
|
|
2018
|
|
2017
|
||||||
Amount:
|
|
|
|
|
|
||||||
Federal statutory tax
|
$
|
132,482
|
|
|
$
|
118,752
|
|
|
$
|
181,397
|
|
Tax exempt revenue
|
(12,227
|
)
|
|
(8,311
|
)
|
|
(12,402
|
)
|
|||
Effect of state income taxes, net of federal benefit
|
12,715
|
|
|
12,430
|
|
|
10,701
|
|
|||
Utilization of tax credits, net of proportional amortization of low-income housing limited partnership investments
|
(5,127
|
)
|
|
(4,559
|
)
|
|
(6,811
|
)
|
|||
Other, net
|
2,340
|
|
|
749
|
|
|
9,708
|
|
|||
Total income tax expense
|
$
|
130,183
|
|
|
$
|
119,061
|
|
|
$
|
182,593
|
|
|
Year Ended December 31,
|
|||||||
|
2019
|
|
2018
|
|
2017
|
|||
Percent of pretax income:
|
|
|
|
|
|
|||
Federal statutory tax
|
21.0
|
%
|
|
21.0
|
%
|
|
35.0
|
%
|
Tax exempt revenue
|
(1.9
|
)
|
|
(1.5
|
)
|
|
(2.4
|
)
|
Effect of state income taxes, net of federal benefit
|
2.0
|
|
|
2.2
|
|
|
2.0
|
|
Utilization of tax credits, net of proportional amortization of low-income housing limited partnership investments
|
(0.8
|
)
|
|
(0.8
|
)
|
|
(1.3
|
)
|
Other, net
|
0.3
|
|
|
0.2
|
|
|
1.9
|
|
Total
|
20.6
|
%
|
|
21.1
|
%
|
|
35.2
|
%
|
|
2019
|
|
2018
|
|
2017
|
||||||
Balance as of January 1
|
$
|
18,869
|
|
|
$
|
18,110
|
|
|
$
|
15,841
|
|
Additions for tax for current year positions
|
5,649
|
|
|
2,649
|
|
|
4,645
|
|
|||
Settlements during the period
|
—
|
|
|
—
|
|
|
—
|
|
|||
Lapses of applicable statute of limitations
|
(4,053
|
)
|
|
(1,890
|
)
|
|
(2,376
|
)
|
|||
Balance as of December 31
|
$
|
20,465
|
|
|
$
|
18,869
|
|
|
$
|
18,110
|
|
|
|
2019
|
|
2018
|
||
Discount rate
|
|
4.10
|
%
|
|
3.30
|
%
|
Expected return on plan assets
|
|
5.50
|
%
|
|
5.50
|
%
|
|
|
|
|
Number
|
|
Weighted-
Average
Exercise
Price
|
|
Aggregate
Intrinsic
Value
|
|||||
Options outstanding at:
|
|
|
|
|
|
|
|||||
December 31, 2017
|
|
117,551
|
|
|
$
|
53.26
|
|
|
$
|
4,592
|
|
December 31, 2018
|
|
63,058
|
|
|
54.89
|
|
|
1,163
|
|
||
December 31, 2019
|
|
36,100
|
|
|
56.75
|
|
|
1,106
|
|
||
Options vested at:
|
|
|
|
|
|
|
|||||
December 31, 2017
|
|
51,286
|
|
|
$
|
48.62
|
|
|
$
|
2,241
|
|
December 31, 2018
|
|
33,573
|
|
|
53.09
|
|
679
|
|
|||
December 31, 2019
|
|
27,193
|
|
|
57.08
|
|
824
|
|
|
|
Restricted Stock
|
|
Restricted Stock Units
|
|||||||||||
|
|
Shares
|
|
Weighted
Average
Grant Date
Fair Value
|
|
Units
|
|
Weighted
Average
Grant Date
Fair Value
|
|||||||
Non-vested at January 1, 2017
|
|
786,706
|
|
|
|
|
—
|
|
|
|
|||||
Granted
|
|
177,807
|
|
|
$
|
86.95
|
|
|
—
|
|
—
|
|
—
|
|
|
Vested
|
|
(194,419
|
)
|
|
63.07
|
|
|
—
|
|
|
—
|
|
|||
Forfeited
|
|
(102,991
|
)
|
|
78.70
|
|
|
—
|
|
|
—
|
|
|||
Non-vested at December 31, 2017
|
|
667,103
|
|
|
|
|
—
|
|
|
|
|||||
Granted
|
|
150,419
|
|
|
$
|
85.58
|
|
|
—
|
|
|
—
|
|
||
Vested
|
|
(242,215
|
)
|
|
74.85
|
|
|
—
|
|
|
—
|
|
|||
Forfeited
|
|
(47,700
|
)
|
|
75.68
|
|
|
—
|
|
|
—
|
|
|||
Non-vested at December 31, 2018
|
|
527,607
|
|
|
|
|
—
|
|
|
|
|||||
Granted
|
|
145,724
|
|
|
$
|
76.74
|
|
|
46,689
|
|
|
$
|
87.40
|
|
|
Vested
|
|
(114,201
|
)
|
|
61.28
|
|
|
—
|
|
|
—
|
|
|||
Forfeited
|
|
(131,952
|
)
|
|
83.69
|
|
|
—
|
|
|
—
|
|
|||
Non-vested at December 31, 2019
|
|
427,178
|
|
|
|
|
46,689
|
|
|
|
1
|
Adjustments generally consist of changes in status as a related party.
|
|
|
Minimum Capital Requirement
|
|
Capital Conservation Buffer1
|
|
Minimum Capital Requirement Including Capital Conservation Buffer
|
|
Well Capitalized Bank Requirement
|
|
December 31, 2019
|
|
December 31, 2018
|
||||||||||
Common Equity Tier 1 Capital (to Risk Weighted Assets):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Consolidated
|
|
4.50%
|
|
2.50%
|
|
7.00%
|
|
N/A
|
|
$
|
3,608,821
|
|
|
11.39
|
%
|
|
$
|
3,356,524
|
|
|
10.92
|
%
|
BOKF, NA
|
|
4.50%
|
|
N/A
|
|
4.50%
|
|
6.50%
|
|
3,414,446
|
|
|
10.90
|
%
|
|
2,894,119
|
|
|
10.50
|
%
|
||
CoBiz Bank2
|
|
4.50%
|
|
N/A
|
|
4.50%
|
|
6.50%
|
|
—
|
|
|
—
|
%
|
|
317,944
|
|
|
10.65
|
%
|
||
Tier I Capital (to Risk Weighted Assets):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Consolidated
|
|
6.00%
|
|
2.50%
|
|
8.50%
|
|
N/A
|
|
$
|
3,608,821
|
|
|
11.39
|
%
|
|
$
|
3,356,524
|
|
|
10.92
|
%
|
BOKF, NA
|
|
6.00%
|
|
N/A
|
|
6.00%
|
|
8.00%
|
|
3,414,446
|
|
|
10.90
|
%
|
|
2,894,119
|
|
|
10.50
|
%
|
||
CoBiz Bank2
|
|
6.00%
|
|
N/A
|
|
6.00%
|
|
8.00%
|
|
—
|
|
|
—
|
%
|
|
317,944
|
|
|
10.65
|
%
|
||
Total Capital (to Risk Weighted Assets):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Consolidated
|
|
8.00%
|
|
2.50%
|
|
10.50%
|
|
N/A
|
|
$
|
4,097,087
|
|
|
12.94
|
%
|
|
$
|
3,841,684
|
|
|
12.50
|
%
|
BOKF, NA
|
|
8.00%
|
|
N/A
|
|
8.00%
|
|
10.00%
|
|
3,692,010
|
|
|
11.79
|
%
|
|
3,103,366
|
|
|
11.26
|
%
|
||
CoBiz Bank2
|
|
8.00%
|
|
N/A
|
|
8.00%
|
|
10.00%
|
|
—
|
|
|
—
|
%
|
|
382,944
|
|
|
12.83
|
%
|
||
Leverage (Tier I Capital to Average Assets):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Consolidated
|
|
4.00%
|
|
N/A
|
|
4.00%
|
|
N/A
|
|
$
|
3,608,820
|
|
|
8.40
|
%
|
|
$
|
3,356,524
|
|
|
8.96
|
%
|
BOKF, NA
|
|
4.00%
|
|
N/A
|
|
4.00%
|
|
5.00%
|
|
3,414,446
|
|
|
7.98
|
%
|
|
2,894,119
|
|
|
8.56
|
%
|
||
CoBiz Bank2
|
|
4.00%
|
|
N/A
|
|
4.00%
|
|
5.00%
|
|
—
|
|
|
—
|
%
|
|
317,944
|
|
|
8.25
|
%
|
1
|
Capital conservation buffer was effective January 1, 2016 and phased in through 2019. The phased in capital conservation buffer was 2.50% at December 31, 2019 and 1.875% at December 31, 2018. The fully phased in requirement of 2.50% is included in the table above.
|
2
|
CoBiz Bank was acquired by BOK Financial effective October 1, 2018 and merged into BOKF, NA during the first quarter of 2019.
|
|
Unrealized Gain (Loss) on
|
|
|
||||||||
|
Available for Sale Securities
|
|
Employee Benefit Plans
|
|
Total
|
||||||
Balance, December 31, 2016
|
$
|
(9,087
|
)
|
|
$
|
(1,880
|
)
|
|
$
|
(10,967
|
)
|
Net change in unrealized gain (loss)
|
(28,170
|
)
|
|
2,018
|
|
|
(26,152
|
)
|
|||
Reclassification adjustments included in earnings:
|
|
|
|
|
|
||||||
Gain on available for sale securities, net
|
(4,428
|
)
|
|
—
|
|
|
(4,428
|
)
|
|||
Other comprehensive income (loss), before income taxes
|
(32,598
|
)
|
|
2,018
|
|
|
(30,580
|
)
|
|||
Federal and state income tax1
|
(12,708
|
)
|
|
785
|
|
|
(11,923
|
)
|
|||
Other comprehensive income (loss), net of income taxes
|
(19,890
|
)
|
|
1,233
|
|
|
(18,657
|
)
|
|||
Reclassification of stranded accumulated other comprehensive loss related to tax reform
|
(6,408
|
)
|
|
(142
|
)
|
|
(6,550
|
)
|
|||
Balance, December 31, 2017
|
(35,385
|
)
|
|
(789
|
)
|
|
(36,174
|
)
|
|||
Transition adjustment for net unrealized gains on equity securities
|
(2,709
|
)
|
|
—
|
|
|
(2,709
|
)
|
|||
Net change in unrealized gain (loss)
|
(46,941
|
)
|
|
(1,069
|
)
|
|
(48,010
|
)
|
|||
Reclassification adjustments included in earnings:
|
|
|
|
|
|
||||||
Loss on available for sale securities, net
|
2,801
|
|
|
—
|
|
|
2,801
|
|
|||
Other comprehensive income (loss), before income taxes
|
(44,140
|
)
|
|
(1,069
|
)
|
|
(45,209
|
)
|
|||
Federal and state income tax2
|
(11,235
|
)
|
|
(272
|
)
|
|
(11,507
|
)
|
|||
Other comprehensive income (loss), net of income taxes
|
(32,905
|
)
|
|
(797
|
)
|
|
(33,702
|
)
|
|||
Balance, December 31, 2018
|
(70,999
|
)
|
|
(1,586
|
)
|
|
(72,585
|
)
|
|||
Net change in unrealized gain (loss)
|
239,017
|
|
|
2,030
|
|
|
241,047
|
|
|||
Reclassification adjustments included in earnings:
|
|
|
|
|
|
||||||
Gain on available for sale securities, net
|
(5,597
|
)
|
|
—
|
|
|
(5,597
|
)
|
|||
Other comprehensive income (loss), before income taxes
|
233,420
|
|
|
2,030
|
|
|
235,450
|
|
|||
Federal and state income tax2
|
57,425
|
|
|
517
|
|
|
57,942
|
|
|||
Other comprehensive income (loss), net of income taxes
|
175,995
|
|
|
1,513
|
|
|
177,508
|
|
|||
Balance, December 31, 2019
|
$
|
104,996
|
|
|
$
|
(73
|
)
|
|
$
|
104,923
|
|
1
|
Calculated using a 39 percent blended federal and state statutory tax rate.
|
2
|
Calculated using a 25 percent blended federal and state statutory tax rate.
|
|
|
Year Ended
|
||||||||||
|
|
2019
|
|
2018
|
|
2017
|
||||||
Numerator:
|
|
|
|
|
|
|
||||||
Net income attributable to BOK Financial Corp. shareholders
|
|
$
|
500,758
|
|
|
$
|
445,646
|
|
|
$
|
334,644
|
|
Less: Earnings allocated to participating securities
|
|
3,227
|
|
|
3,737
|
|
|
3,561
|
|
|||
Numerator for basic earnings per share – income available to common shareholders
|
|
497,531
|
|
|
441,909
|
|
|
331,083
|
|
|||
Effect of reallocating undistributed earnings of participating securities
|
|
—
|
|
|
1
|
|
|
2
|
|
|||
Numerator for diluted earnings per share – income available to common shareholders
|
|
$
|
497,531
|
|
|
$
|
441,910
|
|
|
$
|
331,085
|
|
|
|
|
|
|
|
|
||||||
Denominator:
|
|
|
|
|
|
|
|
|
||||
Weighted average shares outstanding
|
|
71,250,081
|
|
|
67,190,257
|
|
|
65,440,832
|
|
|||
Less: Participating securities included in weighted average shares outstanding
|
|
462,381
|
|
|
561,617
|
|
|
695,468
|
|
|||
Denominator for basic earnings per common share
|
|
70,787,700
|
|
|
66,628,640
|
|
|
64,745,364
|
|
|||
Dilutive effect of employee stock compensation plans
|
|
14,912
|
|
|
33,633
|
|
|
60,920
|
|
|||
Denominator for diluted earnings per common share
|
|
70,802,612
|
|
|
66,662,273
|
|
|
64,806,284
|
|
|||
|
|
|
|
|
|
|
||||||
Basic earnings per share
|
|
$
|
7.03
|
|
|
$
|
6.63
|
|
|
$
|
5.11
|
|
Diluted earnings per share
|
|
$
|
7.03
|
|
|
$
|
6.63
|
|
|
$
|
5.11
|
|
|
|
Commercial
|
|
Consumer
|
|
Wealth
Management
|
|
Funds Management and Other
|
|
BOK
Financial
Consolidated
|
||||||||||
Net interest and dividend revenue from external sources
|
|
$
|
919,148
|
|
|
$
|
99,679
|
|
|
$
|
61,277
|
|
|
$
|
32,775
|
|
|
$
|
1,112,879
|
|
Net interest revenue (expense) from internal sources
|
|
(242,907
|
)
|
|
95,775
|
|
|
38,815
|
|
|
108,317
|
|
|
—
|
|
|||||
Net interest and dividend revenue
|
|
676,241
|
|
|
195,454
|
|
|
100,092
|
|
|
141,092
|
|
|
1,112,879
|
|
|||||
Provision for credit losses
|
|
39,011
|
|
|
6,271
|
|
|
(308
|
)
|
|
(974
|
)
|
|
44,000
|
|
|||||
Net interest and dividend revenue after provision for credit losses
|
|
637,230
|
|
|
189,183
|
|
|
100,400
|
|
|
142,066
|
|
|
1,068,879
|
|
|||||
Other operating revenue
|
|
170,412
|
|
|
187,500
|
|
|
341,389
|
|
|
(4,931
|
)
|
|
694,370
|
|
|||||
Other operating expense
|
|
252,459
|
|
|
230,916
|
|
|
277,267
|
|
|
371,739
|
|
|
1,132,381
|
|
|||||
Net direct contribution
|
|
555,183
|
|
|
145,767
|
|
|
164,522
|
|
|
(234,604
|
)
|
|
630,868
|
|
|||||
Gain (loss) on financial instruments, net
|
|
106
|
|
|
30,375
|
|
|
2
|
|
|
(30,483
|
)
|
|
—
|
|
|||||
Change in fair value of mortgage servicing rights
|
|
—
|
|
|
(53,517
|
)
|
|
—
|
|
|
53,517
|
|
|
—
|
|
|||||
Gain (loss) on repossessed assets, net
|
|
331
|
|
|
496
|
|
|
—
|
|
|
(827
|
)
|
|
—
|
|
|||||
Corporate expense allocations
|
|
43,055
|
|
|
47,169
|
|
|
36,239
|
|
|
(126,463
|
)
|
|
—
|
|
|||||
Net income before taxes
|
|
512,565
|
|
|
75,952
|
|
|
128,285
|
|
|
(85,934
|
)
|
|
630,868
|
|
|||||
Federal and state income taxes
|
|
137,759
|
|
|
19,346
|
|
|
32,954
|
|
|
(59,876
|
)
|
|
130,183
|
|
|||||
Net income
|
|
374,806
|
|
|
56,606
|
|
|
95,331
|
|
|
(26,058
|
)
|
|
500,685
|
|
|||||
Net income attributable to non-controlling interests
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(73
|
)
|
|
(73
|
)
|
|||||
Net income attributable to BOK Financial Corp. shareholders
|
|
$
|
374,806
|
|
|
$
|
56,606
|
|
|
$
|
95,331
|
|
|
$
|
(25,985
|
)
|
|
$
|
500,758
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Average assets
|
|
$
|
22,807,589
|
|
|
$
|
9,301,341
|
|
|
$
|
10,204,426
|
|
|
$
|
(219,009
|
)
|
|
$
|
42,094,347
|
|
|
|
Commercial
|
|
Consumer
|
|
Wealth
Management
|
|
Funds Management and Other
|
|
BOK
Financial
Consolidated
|
||||||||||
Net interest and dividend revenue from external sources
|
|
$
|
726,855
|
|
|
$
|
83,231
|
|
|
$
|
81,528
|
|
|
$
|
93,253
|
|
|
$
|
984,867
|
|
Net interest revenue (expense) from internal sources
|
|
(159,954
|
)
|
|
73,448
|
|
|
31,480
|
|
|
55,026
|
|
|
—
|
|
|||||
Net interest and dividend revenue
|
|
566,901
|
|
|
156,679
|
|
|
113,008
|
|
|
148,279
|
|
|
984,867
|
|
|||||
Provision for credit losses
|
|
30,358
|
|
|
5,143
|
|
|
(288
|
)
|
|
(27,213
|
)
|
|
8,000
|
|
|||||
Net interest and dividend revenue after provision for credit losses
|
|
536,543
|
|
|
151,536
|
|
|
113,296
|
|
|
175,492
|
|
|
976,867
|
|
|||||
Other operating revenue
|
|
162,701
|
|
|
178,123
|
|
|
296,369
|
|
|
(20,409
|
)
|
|
616,784
|
|
|||||
Other operating expense
|
|
202,095
|
|
|
231,075
|
|
|
257,650
|
|
|
337,346
|
|
|
1,028,166
|
|
|||||
Net direct contribution
|
|
497,149
|
|
|
98,584
|
|
|
152,015
|
|
|
(182,263
|
)
|
|
565,485
|
|
|||||
Gain (loss) on financial instruments, net
|
|
26
|
|
|
(25,021
|
)
|
|
7
|
|
|
24,988
|
|
|
—
|
|
|||||
Change in fair value of mortgage servicing rights
|
|
—
|
|
|
4,668
|
|
|
—
|
|
|
(4,668
|
)
|
|
—
|
|
|||||
Gain (loss) on repossessed assets, net
|
|
(6,532
|
)
|
|
247
|
|
|
—
|
|
|
6,285
|
|
|
—
|
|
|||||
Corporate expense allocations
|
|
36,670
|
|
|
44,398
|
|
|
35,920
|
|
|
(116,988
|
)
|
|
—
|
|
|||||
Net income before taxes
|
|
453,973
|
|
|
34,080
|
|
|
116,102
|
|
|
(38,670
|
)
|
|
565,485
|
|
|||||
Federal and state income taxes
|
|
120,458
|
|
|
8,681
|
|
|
30,075
|
|
|
(40,153
|
)
|
|
119,061
|
|
|||||
Net income
|
|
333,515
|
|
|
25,399
|
|
|
86,027
|
|
|
1,483
|
|
|
446,424
|
|
|||||
Net income attributable to non-controlling interests
|
|
—
|
|
|
—
|
|
|
—
|
|
|
778
|
|
|
778
|
|
|||||
Net income attributable to BOK Financial Corp. shareholders
|
|
$
|
333,515
|
|
|
$
|
25,399
|
|
|
$
|
86,027
|
|
|
$
|
705
|
|
|
$
|
445,646
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Average assets
|
|
$
|
18,432,035
|
|
|
$
|
8,303,263
|
|
|
$
|
8,447,784
|
|
|
$
|
(245,552
|
)
|
|
$
|
34,937,530
|
|
|
|
Commercial
|
|
Consumer
|
|
Wealth
Management
|
|
Funds Management and Other
|
|
BOK
Financial
Consolidated
|
||||||||||
Net interest and dividend revenue from external sources
|
|
$
|
618,325
|
|
|
$
|
84,286
|
|
|
$
|
45,024
|
|
|
$
|
94,066
|
|
|
$
|
841,701
|
|
Net interest revenue (expense) from internal sources
|
|
(92,055
|
)
|
|
53,916
|
|
|
38,344
|
|
|
(205
|
)
|
|
—
|
|
|||||
Net interest and dividend revenue
|
|
526,270
|
|
|
138,202
|
|
|
83,368
|
|
|
93,861
|
|
|
841,701
|
|
|||||
Provision for credit losses
|
|
13,877
|
|
|
4,786
|
|
|
(696
|
)
|
|
(24,967
|
)
|
|
(7,000
|
)
|
|||||
Net interest and dividend revenue after provision for credit losses
|
|
512,393
|
|
|
133,416
|
|
|
84,064
|
|
|
118,828
|
|
|
848,701
|
|
|||||
Other operating revenue
|
|
208,404
|
|
|
184,878
|
|
|
301,434
|
|
|
378
|
|
|
695,094
|
|
|||||
Other operating expense
|
|
235,793
|
|
|
241,805
|
|
|
254,495
|
|
|
293,424
|
|
|
1,025,517
|
|
|||||
Net direct contribution
|
|
485,004
|
|
|
76,489
|
|
|
131,003
|
|
|
(174,218
|
)
|
|
518,278
|
|
|||||
Gain (loss) on financial instruments, net
|
|
52
|
|
|
(2,052
|
)
|
|
—
|
|
|
2,000
|
|
|
—
|
|
|||||
Change in fair value of mortgage servicing rights
|
|
—
|
|
|
172
|
|
|
—
|
|
|
(172
|
)
|
|
—
|
|
|||||
Gain on repossessed assets, net
|
|
(2,681
|
)
|
|
223
|
|
|
387
|
|
|
2,071
|
|
|
—
|
|
|||||
Corporate expense allocations
|
|
28,060
|
|
|
49,344
|
|
|
32,693
|
|
|
(110,097
|
)
|
|
—
|
|
|||||
Net income before taxes
|
|
454,315
|
|
|
25,488
|
|
|
98,697
|
|
|
(60,222
|
)
|
|
518,278
|
|
|||||
Federal and state income taxes
|
|
186,518
|
|
|
9,915
|
|
|
38,848
|
|
|
(52,688
|
)
|
|
182,593
|
|
|||||
Net income
|
|
267,797
|
|
|
15,573
|
|
|
59,849
|
|
|
(7,534
|
)
|
|
335,685
|
|
|||||
Net loss attributable to non-controlling interests
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,041
|
|
|
1,041
|
|
|||||
Net income attributable to BOK Financial Corp. shareholders
|
|
$
|
267,797
|
|
|
$
|
15,573
|
|
|
$
|
59,849
|
|
|
$
|
(8,575
|
)
|
|
$
|
334,644
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Average assets
|
|
$
|
17,766,027
|
|
|
$
|
8,544,117
|
|
|
$
|
7,072,622
|
|
|
$
|
(435,272
|
)
|
|
$
|
32,947,494
|
|
|
Commercial
|
|
Consumer
|
|
Wealth Management
|
|
Funds Management and Other
|
|
Consolidated
|
|
Out of Scope1
|
|
In Scope2
|
||||||||||||||
Trading revenue
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
88,558
|
|
|
$
|
—
|
|
|
$
|
88,558
|
|
|
$
|
88,558
|
|
|
$
|
—
|
|
Customer hedging revenue
|
8,422
|
|
|
—
|
|
|
9,667
|
|
|
852
|
|
|
18,941
|
|
|
18,941
|
|
|
—
|
|
|||||||
Retail brokerage revenue
|
—
|
|
|
—
|
|
|
16,251
|
|
|
(115
|
)
|
|
16,136
|
|
|
—
|
|
|
16,136
|
|
|||||||
Insurance brokerage revenue
|
—
|
|
|
—
|
|
|
10,131
|
|
|
3,730
|
|
|
13,861
|
|
|
—
|
|
|
13,861
|
|
|||||||
Investment banking revenue
|
10,136
|
|
|
—
|
|
|
12,194
|
|
|
—
|
|
|
22,330
|
|
|
8,678
|
|
|
13,652
|
|
|||||||
Brokerage and trading revenue
|
18,558
|
|
|
—
|
|
|
136,801
|
|
|
4,467
|
|
|
159,826
|
|
|
116,177
|
|
|
43,649
|
|
|||||||
TransFund EFT network revenue
|
73,479
|
|
|
3,924
|
|
|
(82
|
)
|
|
3
|
|
|
77,324
|
|
|
—
|
|
|
77,324
|
|
|||||||
Merchant services revenue
|
8,607
|
|
|
56
|
|
|
—
|
|
|
123
|
|
|
8,786
|
|
|
—
|
|
|
8,786
|
|
|||||||
Corporate card revenue
|
1,072
|
|
|
—
|
|
|
32
|
|
|
2
|
|
|
1,106
|
|
|
—
|
|
|
1,106
|
|
|||||||
Transaction card revenue
|
83,158
|
|
|
3,980
|
|
|
(50
|
)
|
|
128
|
|
|
87,216
|
|
|
—
|
|
|
87,216
|
|
|||||||
Personal trust revenue
|
—
|
|
|
—
|
|
|
81,763
|
|
|
—
|
|
|
81,763
|
|
|
—
|
|
|
81,763
|
|
|||||||
Corporate trust revenue
|
—
|
|
|
—
|
|
|
24,635
|
|
|
—
|
|
|
24,635
|
|
|
—
|
|
|
24,635
|
|
|||||||
Institutional trust & retirement plan services revenue
|
—
|
|
|
—
|
|
|
44,352
|
|
|
—
|
|
|
44,352
|
|
|
—
|
|
|
44,352
|
|
|||||||
Investment management services and other
|
—
|
|
|
—
|
|
|
24,725
|
|
|
1,550
|
|
|
26,275
|
|
|
—
|
|
|
26,275
|
|
|||||||
Fiduciary and asset management revenue
|
—
|
|
|
—
|
|
|
175,475
|
|
|
1,550
|
|
|
177,025
|
|
|
—
|
|
|
177,025
|
|
|||||||
Commercial account service charge revenue
|
42,251
|
|
|
1,713
|
|
|
2,137
|
|
|
1,804
|
|
|
47,905
|
|
|
—
|
|
|
47,905
|
|
|||||||
Overdraft fee revenue
|
313
|
|
|
35,134
|
|
|
138
|
|
|
(229
|
)
|
|
35,356
|
|
|
—
|
|
|
35,356
|
|
|||||||
Check card revenue
|
—
|
|
|
21,865
|
|
|
—
|
|
|
165
|
|
|
22,030
|
|
|
—
|
|
|
22,030
|
|
|||||||
Automated service charge and other deposit fee revenue
|
823
|
|
|
6,155
|
|
|
168
|
|
|
48
|
|
|
7,194
|
|
|
—
|
|
|
7,194
|
|
|||||||
Deposit service charges and fees
|
43,387
|
|
|
64,867
|
|
|
2,443
|
|
|
1,788
|
|
|
112,485
|
|
|
—
|
|
|
112,485
|
|
|||||||
Mortgage production revenue
|
—
|
|
|
42,724
|
|
|
—
|
|
|
(4
|
)
|
|
42,720
|
|
|
42,720
|
|
|
—
|
|
|||||||
Mortgage servicing revenue
|
—
|
|
|
66,692
|
|
|
—
|
|
|
(1,871
|
)
|
|
64,821
|
|
|
64,821
|
|
|
—
|
|
|||||||
Mortgage banking revenue
|
—
|
|
|
109,416
|
|
|
—
|
|
|
(1,875
|
)
|
|
107,541
|
|
|
107,541
|
|
|
—
|
|
|||||||
Other revenue
|
23,564
|
|
|
9,733
|
|
|
26,664
|
|
|
(1,853
|
)
|
|
58,108
|
|
|
39,428
|
|
|
18,680
|
|
|||||||
Total fees and commissions revenue
|
$
|
168,667
|
|
|
$
|
187,996
|
|
|
$
|
341,333
|
|
|
$
|
4,205
|
|
|
$
|
702,201
|
|
|
$
|
263,146
|
|
|
$
|
439,055
|
|
1
|
Out of scope revenue generally relates to financial instruments or contractual rights and obligations within the scope of other applicable accounting guidance.
|
2
|
In scope revenue represents revenue subject to FASB ASC Topic 606, Revenue from Contracts with Customers.
|
|
Commercial
|
|
Consumer
|
|
Wealth Management
|
|
Funds Management and Other
|
|
Consolidated
|
|
Out of Scope1
|
|
In Scope2
|
||||||||||||||
Trading revenue
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
28,077
|
|
|
$
|
—
|
|
|
$
|
28,077
|
|
|
$
|
28,077
|
|
|
$
|
—
|
|
Customer hedging revenue
|
7,748
|
|
|
—
|
|
|
27,512
|
|
|
3,574
|
|
|
38,834
|
|
|
38,834
|
|
|
—
|
|
|||||||
Retail brokerage revenue
|
—
|
|
|
—
|
|
|
19,030
|
|
|
(1,078
|
)
|
|
17,952
|
|
|
—
|
|
|
17,952
|
|
|||||||
Insurance brokerage revenue
|
—
|
|
|
—
|
|
|
—
|
|
|
4,198
|
|
|
4,198
|
|
|
—
|
|
|
4,198
|
|
|||||||
Investment banking revenue
|
7,628
|
|
|
—
|
|
|
11,634
|
|
|
—
|
|
|
19,262
|
|
|
6,380
|
|
|
12,882
|
|
|||||||
Brokerage and trading revenue
|
15,376
|
|
|
—
|
|
|
86,253
|
|
|
6,694
|
|
|
108,323
|
|
|
73,291
|
|
|
35,032
|
|
|||||||
TransFund EFT network revenue
|
72,280
|
|
|
4,017
|
|
|
(82
|
)
|
|
6
|
|
|
76,221
|
|
|
—
|
|
|
76,221
|
|
|||||||
Merchant services revenue
|
7,666
|
|
|
59
|
|
|
—
|
|
|
79
|
|
|
7,804
|
|
|
—
|
|
|
7,804
|
|
|||||||
Corporate card revenue
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||||
Transaction card revenue
|
79,946
|
|
|
4,076
|
|
|
(82
|
)
|
|
85
|
|
|
84,025
|
|
|
—
|
|
|
84,025
|
|
|||||||
Personal trust revenue
|
—
|
|
|
—
|
|
|
96,839
|
|
|
—
|
|
|
96,839
|
|
|
—
|
|
|
96,839
|
|
|||||||
Corporate trust revenue
|
—
|
|
|
—
|
|
|
22,292
|
|
|
—
|
|
|
22,292
|
|
|
—
|
|
|
22,292
|
|
|||||||
Institutional trust & retirement plan services revenue
|
—
|
|
|
—
|
|
|
44,400
|
|
|
76
|
|
|
44,476
|
|
|
—
|
|
|
44,476
|
|
|||||||
Investment management services and other
|
—
|
|
|
—
|
|
|
19,729
|
|
|
1,367
|
|
|
21,096
|
|
|
—
|
|
|
21,096
|
|
|||||||
Fiduciary and asset management revenue
|
—
|
|
|
—
|
|
|
183,260
|
|
|
1,443
|
|
|
184,703
|
|
|
—
|
|
|
184,703
|
|
|||||||
Commercial account service charge revenue
|
41,931
|
|
|
1,445
|
|
|
2,331
|
|
|
1,565
|
|
|
47,272
|
|
|
—
|
|
|
47,272
|
|
|||||||
Overdraft fee revenue
|
370
|
|
|
36,177
|
|
|
134
|
|
|
(145
|
)
|
|
36,536
|
|
|
—
|
|
|
36,536
|
|
|||||||
Check card revenue
|
—
|
|
|
20,967
|
|
|
—
|
|
|
339
|
|
|
21,306
|
|
|
—
|
|
|
21,306
|
|
|||||||
Automated service charge and other deposit fee revenue
|
282
|
|
|
6,621
|
|
|
62
|
|
|
74
|
|
|
7,039
|
|
|
—
|
|
|
7,039
|
|
|||||||
Deposit service charges and fees
|
42,583
|
|
|
65,210
|
|
|
2,527
|
|
|
1,833
|
|
|
112,153
|
|
|
—
|
|
|
112,153
|
|
|||||||
Mortgage production revenue
|
—
|
|
|
31,690
|
|
|
—
|
|
|
—
|
|
|
31,690
|
|
|
31,690
|
|
|
—
|
|
|||||||
Mortgage servicing revenue
|
—
|
|
|
67,980
|
|
|
—
|
|
|
(1,883
|
)
|
|
66,097
|
|
|
66,097
|
|
|
—
|
|
|||||||
Mortgage banking revenue
|
—
|
|
|
99,670
|
|
|
—
|
|
|
(1,883
|
)
|
|
97,787
|
|
|
97,787
|
|
|
—
|
|
|||||||
Other revenue
|
24,044
|
|
|
9,218
|
|
|
24,507
|
|
|
(1,584
|
)
|
|
56,185
|
|
|
38,306
|
|
|
17,879
|
|
|||||||
Total fees and commissions revenue
|
$
|
161,949
|
|
|
$
|
178,174
|
|
|
$
|
296,465
|
|
|
$
|
6,588
|
|
|
$
|
643,176
|
|
|
$
|
209,384
|
|
|
$
|
433,792
|
|
1
|
Out of scope revenue generally relates to financial instruments or contractual rights and obligations within the scope of other applicable accounting guidance.
|
2
|
In scope revenue represents revenue subject to FASB ASC Topic 606, Revenue from Contracts with Customers.
|
•
|
Quoted prices for similar, but not identical, assets or liabilities in active markets;
|
•
|
Quoted prices for identical or similar assets or liabilities in inactive markets;
|
•
|
Inputs other than quoted prices that are observable, such as interest rate and yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates;
|
•
|
Other inputs derived from or corroborated by observable market inputs.
|
|
|
Total
|
|
Quoted Prices in Active Markets for Identical Instruments
|
|
Significant Other Observable Inputs
|
|
Significant Unobservable Inputs
|
||||||||
Assets:
|
|
|
|
|
|
|
|
|
||||||||
Trading securities:
|
|
|
|
|
|
|
|
|
||||||||
U.S. government agency debentures
|
|
$
|
44,264
|
|
|
$
|
—
|
|
|
$
|
44,264
|
|
|
$
|
—
|
|
Residential agency mortgage-backed securities
|
|
1,504,651
|
|
|
—
|
|
|
1,504,651
|
|
|
—
|
|
||||
Municipal and other tax-exempt securities
|
|
26,196
|
|
|
—
|
|
|
26,196
|
|
|
—
|
|
||||
Asset-backed securities
|
|
14,084
|
|
|
—
|
|
|
14,084
|
|
|
—
|
|
||||
Other trading securities
|
|
34,726
|
|
|
—
|
|
|
34,726
|
|
|
—
|
|
||||
Total trading securities
|
|
1,623,921
|
|
|
—
|
|
|
1,623,921
|
|
|
—
|
|
||||
Available for sale securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
U.S. Treasury
|
|
1,600
|
|
|
1,600
|
|
|
—
|
|
|
—
|
|
||||
Municipal and other tax-exempt securities
|
|
1,861
|
|
|
—
|
|
|
1,861
|
|
|
—
|
|
||||
Residential agency mortgage-backed securities
|
|
8,046,096
|
|
|
—
|
|
|
8,046,096
|
|
|
—
|
|
||||
Residential non-agency mortgage-backed securities
|
|
41,609
|
|
|
—
|
|
|
41,609
|
|
|
—
|
|
||||
Commercial agency mortgage-backed securities guaranteed
|
|
3,178,005
|
|
|
—
|
|
|
3,178,005
|
|
|
—
|
|
||||
Other debt securities
|
|
472
|
|
|
—
|
|
|
—
|
|
|
472
|
|
||||
Total available for sale securities
|
|
11,269,643
|
|
|
1,600
|
|
|
11,267,571
|
|
|
472
|
|
||||
Fair value option securities:
|
|
|
|
|
|
|
|
|
|
|||||||
U.S. Treasury
|
|
9,917
|
|
|
9,917
|
|
|
—
|
|
|
—
|
|
||||
Residential agency mortgage-backed securities
|
|
1,088,660
|
|
|
—
|
|
|
1,088,660
|
|
|
—
|
|
||||
Total fair value option securities
|
|
1,098,577
|
|
|
9,917
|
|
|
1,088,660
|
|
|
—
|
|
||||
Residential mortgage loans held for sale
|
|
182,271
|
|
|
—
|
|
|
173,958
|
|
|
8,313
|
|
||||
Mortgage servicing rights, net1
|
|
201,886
|
|
|
—
|
|
|
—
|
|
|
201,886
|
|
||||
Derivative contracts, net of cash margin2
|
|
323,375
|
|
|
8,944
|
|
|
314,431
|
|
|
—
|
|
||||
Liabilities:
|
|
|
|
|
|
|
|
|
|
|||||||
Derivative contracts, net of cash margin2
|
|
251,128
|
|
|
—
|
|
|
251,128
|
|
|
—
|
|
1
|
A reconciliation of the beginning and ending fair value of mortgage servicing rights and disclosures of significant assumptions used to determine fair value are presented in Note 7, Mortgage Banking Activities.
|
2
|
See Note 3 for detail of fair value of derivative contracts by contract type. Derivative contracts in a net asset position that were valued based on quoted prices in active markets or identical instruments (Level 1) are exchange-traded interest rate and energy derivative contracts, net of cash margin. Derivative contracts in a net liability position that were valued using quoted prices in active markets for identical instruments (Level 1) are exchange-traded interest rate and agricultural derivative contracts, fully offset by cash margin.
|
|
|
Total
|
|
Quoted Prices in Active Markets for Identical Instruments
|
|
Significant Other Observable Inputs
|
|
Significant Unobservable Inputs
|
||||||||
Assets:
|
|
|
|
|
|
|
|
|
||||||||
Trading securities:
|
|
|
|
|
|
|
|
|
||||||||
U.S. government agency debentures
|
|
$
|
63,765
|
|
|
$
|
—
|
|
|
$
|
63,765
|
|
|
$
|
—
|
|
Residential agency mortgage-backed securities
|
|
1,791,584
|
|
|
—
|
|
|
1,791,584
|
|
|
—
|
|
||||
Municipal and other tax-exempt securities
|
|
34,507
|
|
|
—
|
|
|
34,507
|
|
|
—
|
|
||||
Asset-backed securities
|
|
42,656
|
|
|
—
|
|
|
42,656
|
|
|
—
|
|
||||
Other trading securities
|
|
24,411
|
|
|
—
|
|
|
24,411
|
|
|
—
|
|
||||
Total trading securities
|
|
1,956,923
|
|
|
—
|
|
|
1,956,923
|
|
|
—
|
|
||||
Available for sale securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
U.S. Treasury
|
|
493
|
|
|
493
|
|
|
—
|
|
|
—
|
|
||||
Municipal and other tax-exempt securities
|
|
2,864
|
|
|
—
|
|
|
2,864
|
|
|
—
|
|
||||
Residential agency mortgage-backed securities
|
|
5,804,708
|
|
|
—
|
|
|
5,804,708
|
|
|
—
|
|
||||
Residential non-agency mortgage-backed securities
|
|
59,736
|
|
|
—
|
|
|
59,736
|
|
|
—
|
|
||||
Commercial agency mortgage-backed securities guaranteed
|
|
2,953,889
|
|
|
—
|
|
|
2,953,889
|
|
|
—
|
|
||||
Other debt securities
|
|
35,430
|
|
|
—
|
|
|
34,958
|
|
|
472
|
|
||||
Total available for sale securities
|
|
8,857,120
|
|
|
493
|
|
|
8,856,155
|
|
|
472
|
|
||||
Fair value option securities – Residential agency mortgage-backed securities
|
|
283,235
|
|
|
—
|
|
|
283,235
|
|
|
—
|
|
||||
Residential mortgage loans held for sale
|
|
149,221
|
|
|
—
|
|
|
134,014
|
|
|
15,207
|
|
||||
Mortgage servicing rights, net1
|
|
259,254
|
|
|
—
|
|
|
—
|
|
|
259,254
|
|
||||
Derivative contracts, net of cash margin2
|
|
320,929
|
|
|
44,074
|
|
|
276,855
|
|
|
—
|
|
||||
Liabilities:
|
|
|
|
|
|
|
|
|
|
|||||||
Derivative contracts, net of cash margin 2
|
|
362,306
|
|
|
—
|
|
|
362,306
|
|
|
—
|
|
1
|
A reconciliation of the beginning and ending fair value of mortgage servicing rights and disclosures of significant assumptions used to determine fair value are presented in Note 7, Mortgage Banking Activities.
|
2
|
See Note 3 for detail of fair value of derivative contracts by contract type. Derivative contracts in a net asset position that were valued based on quoted prices in active markets for identical instruments (Level 1) are exchange-traded interest rate, energy and agricultural derivative contracts, net of cash margin. Derivative contracts in a net liability position that were valued using quoted prices in active markets for identical instruments based on quoted prices in active markets for identical instruments (Level 1) are exchange-traded interest rate derivative contracts, fully offset by cash margin.
|
|
|
Available for Sale Securities
|
|
Residential mortgage loans held for sale
|
||||||||
|
|
Municipal and other tax-exempt securities
|
|
Other debt securities
|
|
|||||||
Balance, December 31, 2017
|
|
$
|
4,802
|
|
|
$
|
472
|
|
|
$
|
12,299
|
|
Transfer to Level 3 from Level 21
|
|
—
|
|
|
—
|
|
|
6,183
|
|
|||
Purchases and capital calls
|
|
—
|
|
|
—
|
|
|
—
|
|
|||
Redemptions and distributions
|
|
(5,095
|
)
|
|
—
|
|
|
—
|
|
|||
Proceeds from sales
|
|
—
|
|
|
—
|
|
|
(2,706
|
)
|
|||
Gain (loss) recognized in earnings:
|
|
|
|
|
|
|
||||||
Mortgage banking revenue
|
|
—
|
|
|
—
|
|
|
(569
|
)
|
|||
Other comprehensive income (loss):
|
|
|
|
|
|
|
||||||
Net change in unrealized gain (loss)
|
|
293
|
|
|
—
|
|
|
—
|
|
|||
Balance, December 31, 2018
|
|
—
|
|
|
472
|
|
|
15,207
|
|
|||
Transfer to Level 3 from Level 21
|
|
—
|
|
|
—
|
|
|
2,449
|
|
|||
Purchases and capital calls
|
|
—
|
|
|
—
|
|
|
—
|
|
|||
Redemptions and distributions
|
|
—
|
|
|
—
|
|
|
—
|
|
|||
Proceeds from sales
|
|
—
|
|
|
—
|
|
|
(9,972
|
)
|
|||
Gain (loss) recognized in earnings:
|
|
|
|
|
|
|
||||||
Mortgage banking revenue
|
|
—
|
|
|
—
|
|
|
629
|
|
|||
Other comprehensive income (loss):
|
|
|
|
|
|
|
||||||
Net change in unrealized gain (loss)
|
|
—
|
|
|
—
|
|
|
—
|
|
|||
Balance, December 31, 2019
|
|
$
|
—
|
|
|
$
|
472
|
|
|
$
|
8,313
|
|
1
|
Recurring transfers to Level 3 from Level 2 consist of residential mortgage loans intended for sale to U.S. government agencies that fail to meet conforming standards.
|
1
|
Discounted cash flows developed using discount rates primarily based on reference to interest rate spreads for comparable securities of similar duration and credit rating as determined by the nationally-recognized rating agencies, adjusted for lack of trading volume.
|
2
|
Represents fair value as a percentage of par value.
|
3
|
Interest rate yields used to value investment grade taxable securities based on comparable short-term taxable securities which are generally yielding approximately 3%.
|
1
|
Discounted cash flows developed using discount rates primarily based on reference to interest rate spreads for comparable securities of similar duration and credit rating as determined by the nationally-recognized rating agencies, adjusted for lack of trading volume.
|
2
|
Represents fair value as a percentage of par value.
|
3
|
Interest rate yields used to value investment grade taxable securities based on comparable short-term taxable securities which are generally yielding less than 3%.
|
|
Carrying Value at December 31, 2019
|
|
Fair Value Adjustments for the
Year Ended December 31, 2019 Recognized In: |
||||||||||||||||
|
Quoted Prices
in Active Markets for Identical Instruments
|
|
Significant
Other
Observable
Inputs
|
|
Significant
Unobservable
Inputs
|
|
Gross charge-offs against allowance for loan losses
|
|
Net losses (gains) and expenses of repossessed assets, net
|
||||||||||
Impaired loans
|
$
|
—
|
|
|
$
|
41
|
|
|
$
|
55,665
|
|
|
$
|
31,305
|
|
|
$
|
—
|
|
Real estate and other repossessed assets
|
—
|
|
|
5,986
|
|
|
1,551
|
|
|
—
|
|
|
(461
|
)
|
|
Carrying Value at December 31, 2018
|
|
Fair Value Adjustments for the
Year Ended December 31, 2018 Recognized In: |
||||||||||||||||
|
Quoted Prices
in Active Markets for Identical Instruments
|
|
Significant
Other
Observable
Inputs
|
|
Significant
Unobservable
Inputs
|
|
Gross charge-offs against allowance for loan losses
|
|
Net losses (gains) and expenses of repossessed assets, net
|
||||||||||
Impaired loans
|
$
|
—
|
|
|
$
|
1,074
|
|
|
$
|
17,401
|
|
|
$
|
17,434
|
|
|
$
|
—
|
|
Real estate and other repossessed assets
|
—
|
|
|
4,795
|
|
|
6,366
|
|
|
—
|
|
|
7,269
|
|
1
|
Represents fair value as a percentage of the unpaid principal balance.
|
1
|
Represents fair value as a percentage of the unpaid principal balance.
|
|
|
December 31, 2019
|
||||||||||||||||||
|
|
Carrying
Value
|
|
Estimated Fair Value
|
|
Quoted Prices in Active Markets for Identical Instruments (Level 1)
|
|
Significant Other Observable Inputs (Level 2)
|
|
Significant Unobservable Inputs (Level 3)
|
||||||||||
Cash and due from banks
|
|
$
|
735,836
|
|
|
$
|
735,836
|
|
|
$
|
735,836
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Interest-bearing cash and cash equivalents
|
|
522,985
|
|
|
522,985
|
|
|
522,985
|
|
|
—
|
|
|
—
|
|
|||||
Trading securities:
|
|
|
|
|
|
|
|
|
|
|
||||||||||
U.S. government agency debentures
|
|
44,264
|
|
|
44,264
|
|
|
—
|
|
|
44,264
|
|
|
—
|
|
|||||
Residential agency mortgage-backed securities
|
|
1,504,651
|
|
|
1,504,651
|
|
|
—
|
|
|
1,504,651
|
|
|
—
|
|
|||||
Municipal and other tax-exempt securities
|
|
26,196
|
|
|
26,196
|
|
|
—
|
|
|
26,196
|
|
|
—
|
|
|||||
Asset-backed securities
|
|
14,084
|
|
|
14,084
|
|
|
—
|
|
|
14,084
|
|
|
—
|
|
|||||
Other trading securities
|
|
34,726
|
|
|
34,726
|
|
|
—
|
|
|
34,726
|
|
|
—
|
|
|||||
Total trading securities
|
|
1,623,921
|
|
|
1,623,921
|
|
|
—
|
|
|
1,623,921
|
|
|
—
|
|
|||||
Investment securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Municipal and other tax-exempt securities
|
|
93,653
|
|
|
96,897
|
|
|
—
|
|
|
96,897
|
|
|
—
|
|
|||||
Residential agency mortgage-backed securities
|
|
10,676
|
|
|
11,164
|
|
|
—
|
|
|
11,164
|
|
|
—
|
|
|||||
Other debt securities
|
|
189,089
|
|
|
206,341
|
|
|
—
|
|
|
8,206
|
|
|
198,135
|
|
|||||
Total investment securities
|
|
293,418
|
|
|
314,402
|
|
|
—
|
|
|
116,267
|
|
|
198,135
|
|
|||||
Available for sale securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
U.S. Treasury
|
|
1,600
|
|
|
1,600
|
|
|
1,600
|
|
|
—
|
|
|
—
|
|
|||||
Municipal and other tax-exempt securities
|
|
1,861
|
|
|
1,861
|
|
|
—
|
|
|
1,861
|
|
|
—
|
|
|||||
Residential agency mortgage-backed securities
|
|
8,046,096
|
|
|
8,046,096
|
|
|
—
|
|
|
8,046,096
|
|
|
—
|
|
|||||
Residential non-agency mortgage-backed securities
|
|
41,609
|
|
|
41,609
|
|
|
—
|
|
|
41,609
|
|
|
—
|
|
|||||
Commercial agency mortgage-backed securities
|
|
3,178,005
|
|
|
3,178,005
|
|
|
—
|
|
|
3,178,005
|
|
|
—
|
|
|||||
Other debt securities
|
|
472
|
|
|
472
|
|
|
—
|
|
|
—
|
|
|
472
|
|
|||||
Total available for sale securities
|
|
11,269,643
|
|
|
11,269,643
|
|
|
1,600
|
|
|
11,267,571
|
|
|
472
|
|
|||||
Fair value option securities:
|
|
|
|
|
|
|
|
|
|
|
||||||||||
U.S. Treasury
|
|
9,917
|
|
|
9,917
|
|
|
9,917
|
|
|
—
|
|
|
—
|
|
|||||
Residential agency mortgage-backed securities
|
|
1,088,660
|
|
|
1,088,660
|
|
|
—
|
|
|
1,088,660
|
|
|
—
|
|
|||||
Total fair value option securities
|
|
1,098,577
|
|
|
1,098,577
|
|
|
9,917
|
|
|
1,088,660
|
|
|
—
|
|
|||||
Residential mortgage loans held for sale
|
|
182,271
|
|
|
182,271
|
|
|
—
|
|
|
173,958
|
|
|
8,313
|
|
|||||
Loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Commercial
|
|
14,031,650
|
|
|
13,966,221
|
|
|
—
|
|
|
—
|
|
|
13,966,221
|
|
|||||
Commercial real estate
|
|
4,433,783
|
|
|
4,422,717
|
|
|
—
|
|
|
—
|
|
|
4,422,717
|
|
|||||
Residential mortgage
|
|
2,084,172
|
|
|
2,098,093
|
|
|
—
|
|
|
—
|
|
|
2,098,093
|
|
|||||
Personal
|
|
1,201,382
|
|
|
1,202,298
|
|
|
—
|
|
|
—
|
|
|
1,202,298
|
|
|||||
Total loans
|
|
21,750,987
|
|
|
21,689,329
|
|
|
—
|
|
|
—
|
|
|
21,689,329
|
|
|||||
Allowance for loan losses
|
|
(210,759
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
Loans, net of allowance
|
|
21,540,228
|
|
|
21,689,329
|
|
|
—
|
|
|
—
|
|
|
21,689,329
|
|
|||||
Mortgage servicing rights
|
|
201,886
|
|
|
201,886
|
|
|
—
|
|
|
—
|
|
|
201,886
|
|
|||||
Derivative instruments with positive fair value, net of cash margin
|
|
323,375
|
|
|
323,375
|
|
|
8,944
|
|
|
314,431
|
|
|
—
|
|
|||||
Deposits with no stated maturity
|
|
25,403,319
|
|
|
25,403,319
|
|
|
—
|
|
|
—
|
|
|
25,403,319
|
|
|||||
Time deposits
|
|
2,217,849
|
|
|
2,212,467
|
|
|
—
|
|
|
—
|
|
|
2,212,467
|
|
|||||
Other borrowed funds
|
|
8,345,405
|
|
|
8,315,860
|
|
|
—
|
|
|
—
|
|
|
8,315,860
|
|
|||||
Subordinated debentures
|
|
275,923
|
|
|
284,627
|
|
|
—
|
|
|
284,627
|
|
|
—
|
|
|||||
Derivative instruments with negative fair value, net of cash margin
|
|
251,128
|
|
|
251,128
|
|
|
—
|
|
|
251,128
|
|
|
—
|
|
|
|
December 31, 2018
|
||||||||||||||||||
|
|
Carrying
Value
|
|
Estimated Fair Value
|
|
Quoted Prices in Active Markets for Identical Instruments (Level 1)
|
|
Significant Other Observable Inputs (Level 2)
|
|
Significant Unobservable Inputs (Level 3)
|
||||||||||
Cash and due from banks
|
|
$
|
741,749
|
|
|
$
|
741,749
|
|
|
$
|
741,749
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Interest-bearing cash and cash equivalents
|
|
401,675
|
|
|
401,675
|
|
|
401,675
|
|
|
—
|
|
|
—
|
|
|||||
Trading securities:
|
|
|
|
|
|
|
|
|
|
|
||||||||||
U.S. government agency debentures
|
|
63,765
|
|
|
63,765
|
|
|
—
|
|
|
63,765
|
|
|
—
|
|
|||||
Residential agency mortgage-backed securities
|
|
1,791,584
|
|
|
1,791,584
|
|
|
—
|
|
|
1,791,584
|
|
|
—
|
|
|||||
Municipal and other tax-exempt securities
|
|
34,507
|
|
|
34,507
|
|
|
—
|
|
|
34,507
|
|
|
—
|
|
|||||
Asset-backed securities
|
|
42,656
|
|
|
42,656
|
|
|
—
|
|
|
42,656
|
|
|
—
|
|
|||||
Other trading securities
|
|
24,411
|
|
|
24,411
|
|
|
—
|
|
|
24,411
|
|
|
—
|
|
|||||
Total trading securities
|
|
1,956,923
|
|
|
1,956,923
|
|
|
—
|
|
|
1,956,923
|
|
|
—
|
|
|||||
Investment securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Municipal and other tax-exempt securities
|
|
137,296
|
|
|
138,562
|
|
|
—
|
|
|
138,562
|
|
|
—
|
|
|||||
Residential agency mortgage-backed securities
|
|
12,612
|
|
|
12,770
|
|
|
—
|
|
|
12,770
|
|
|
—
|
|
|||||
Other debt securities
|
|
205,279
|
|
|
215,966
|
|
|
—
|
|
|
7,905
|
|
|
208,061
|
|
|||||
Total investment securities
|
|
355,187
|
|
|
367,298
|
|
|
—
|
|
|
159,237
|
|
|
208,061
|
|
|||||
Available for sale securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
U.S. Treasury securities
|
|
493
|
|
|
493
|
|
|
493
|
|
|
—
|
|
|
—
|
|
|||||
Municipal and other tax-exempt securities
|
|
2,864
|
|
|
2,864
|
|
|
—
|
|
|
2,864
|
|
|
—
|
|
|||||
Residential agency mortgage-backed securities
|
|
5,804,708
|
|
|
5,804,708
|
|
|
—
|
|
|
5,804,708
|
|
|
—
|
|
|||||
Residential non-agency mortgage-backed securities
|
|
59,736
|
|
|
59,736
|
|
|
—
|
|
|
59,736
|
|
|
—
|
|
|||||
Commercial agency mortgage-backed securities
|
|
2,953,889
|
|
|
2,953,889
|
|
|
—
|
|
|
2,953,889
|
|
|
—
|
|
|||||
Other debt securities
|
|
35,430
|
|
|
35,430
|
|
|
—
|
|
|
34,958
|
|
|
472
|
|
|||||
Total available for sale securities
|
|
8,857,120
|
|
|
8,857,120
|
|
|
493
|
|
|
8,856,155
|
|
|
472
|
|
|||||
Fair value option securities – Residential agency mortgage-backed securities
|
|
283,235
|
|
|
283,235
|
|
|
—
|
|
|
283,235
|
|
|
—
|
|
|||||
Residential mortgage loans held for sale
|
|
149,221
|
|
|
149,221
|
|
|
—
|
|
|
134,014
|
|
|
15,207
|
|
|||||
Loans:
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Commercial
|
|
13,636,078
|
|
|
13,526,162
|
|
|
—
|
|
|
—
|
|
|
13,526,162
|
|
|||||
Commercial real estate
|
|
4,764,813
|
|
|
4,713,747
|
|
|
—
|
|
|
—
|
|
|
4,713,747
|
|
|||||
Residential mortgage
|
|
2,230,033
|
|
|
2,213,951
|
|
|
—
|
|
|
—
|
|
|
2,213,951
|
|
|||||
Personal
|
|
1,025,806
|
|
|
1,024,368
|
|
|
—
|
|
|
—
|
|
|
1,024,368
|
|
|||||
Total loans
|
|
21,656,730
|
|
|
21,478,228
|
|
|
—
|
|
|
—
|
|
|
21,478,228
|
|
|||||
Allowance for loan losses
|
|
(207,457
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
Loans, net of allowance
|
|
21,449,273
|
|
|
21,478,228
|
|
|
—
|
|
|
—
|
|
|
21,478,228
|
|
|||||
Mortgage servicing rights
|
|
259,254
|
|
|
259,254
|
|
|
—
|
|
|
—
|
|
|
259,254
|
|
|||||
Derivative instruments with positive fair value, net of cash margin
|
|
320,929
|
|
|
320,929
|
|
|
44,074
|
|
|
276,855
|
|
|
—
|
|
|||||
Deposits with no stated maturity
|
|
23,150,383
|
|
|
23,150,383
|
|
|
—
|
|
|
—
|
|
|
23,150,383
|
|
|||||
Time deposits
|
|
2,113,380
|
|
|
2,073,538
|
|
|
—
|
|
|
—
|
|
|
2,073,538
|
|
|||||
Other borrowed funds
|
|
7,142,801
|
|
|
7,071,953
|
|
|
—
|
|
|
—
|
|
|
7,071,953
|
|
|||||
Subordinated debentures
|
|
275,913
|
|
|
261,977
|
|
|
—
|
|
|
261,977
|
|
|
—
|
|
|||||
Derivative instruments with negative fair value, net of cash margin
|
|
362,306
|
|
|
362,306
|
|
|
—
|
|
|
362,306
|
|
|
—
|
|
|
|
December 31,
|
||||||
|
|
2019
|
|
2018
|
||||
Assets
|
|
|
|
|
||||
Cash and cash equivalents
|
|
$
|
214,779
|
|
|
$
|
167,093
|
|
Loan to bank subsidiary
|
|
65,220
|
|
|
65,228
|
|
||
Investment in bank subsidiaries
|
|
4,602,977
|
|
|
4,236,654
|
|
||
Investment in non-bank subsidiaries
|
|
216,542
|
|
|
218,007
|
|
||
Other assets
|
|
38,082
|
|
|
32,999
|
|
||
Total assets
|
|
$
|
5,137,600
|
|
|
$
|
4,719,981
|
|
|
|
|
|
|
||||
Liabilities and Shareholders’ Equity
|
|
|
|
|
||||
Liabilities:
|
|
|
|
|
||||
Other liabilities
|
|
$
|
5,882
|
|
|
$
|
11,959
|
|
Subordinated debentures
|
|
275,923
|
|
|
275,913
|
|
||
Total liabilities
|
|
281,805
|
|
|
287,872
|
|
||
Shareholders’ equity:
|
|
|
|
|
||||
Common stock
|
|
5
|
|
|
5
|
|
||
Capital surplus
|
|
1,350,995
|
|
|
1,334,030
|
|
||
Retained earnings
|
|
3,729,778
|
|
|
3,369,654
|
|
||
Treasury stock
|
|
(329,906
|
)
|
|
(198,995
|
)
|
||
Accumulated other comprehensive income (loss)
|
|
104,923
|
|
|
(72,585
|
)
|
||
Total shareholders’ equity
|
|
4,855,795
|
|
|
4,432,109
|
|
||
Total liabilities and shareholders’ equity
|
|
$
|
5,137,600
|
|
|
$
|
4,719,981
|
|
|
|
Year Ended December 31,
|
||||||||||
|
|
2019
|
|
2018
|
|
2017
|
||||||
Dividends, interest and fees received from bank subsidiaries
|
|
$
|
344,007
|
|
|
$
|
426,071
|
|
|
$
|
150,149
|
|
Dividends, interest and fees received from non-bank subsidiaries
|
|
9,325
|
|
|
12,800
|
|
|
17,500
|
|
|||
Other revenue
|
|
1,036
|
|
|
954
|
|
|
936
|
|
|||
Total revenue
|
|
354,368
|
|
|
439,825
|
|
|
168,585
|
|
|||
Interest expense
|
|
15,113
|
|
|
9,827
|
|
|
8,239
|
|
|||
Other operating expense
|
|
2,352
|
|
|
12,110
|
|
|
2,014
|
|
|||
Total expense
|
|
17,465
|
|
|
21,937
|
|
|
10,253
|
|
|||
Net income before taxes, other losses, net, and equity in undistributed income of subsidiaries
|
|
336,903
|
|
|
417,888
|
|
|
158,332
|
|
|||
Other gains (losses), net
|
|
3,310
|
|
|
(3,921
|
)
|
|
—
|
|
|||
Net income before taxes and equity in undistributed income of subsidiaries
|
|
340,213
|
|
|
413,967
|
|
|
158,332
|
|
|||
Federal and state income taxes
|
|
(4,516
|
)
|
|
(7,078
|
)
|
|
(4,305
|
)
|
|||
Net income before equity in undistributed income of subsidiaries
|
|
344,729
|
|
|
421,045
|
|
|
162,637
|
|
|||
Equity in undistributed income of bank subsidiaries
|
|
166,797
|
|
|
37,515
|
|
|
181,552
|
|
|||
Equity in undistributed income of non-bank subsidiaries
|
|
(10,768
|
)
|
|
(12,914
|
)
|
|
(9,545
|
)
|
|||
Net income attributable to BOK Financial Corp. shareholders
|
|
$
|
500,758
|
|
|
$
|
445,646
|
|
|
$
|
334,644
|
|
|
|
Year Ended December 31,
|
||||||||||
|
|
2019
|
|
2018
|
|
2017
|
||||||
Cash Flows From Operating Activities:
|
|
|
|
|
|
|
||||||
Net income
|
|
$
|
500,758
|
|
|
$
|
445,646
|
|
|
$
|
334,644
|
|
Adjustments to reconcile net income to net cash provided by operating activities:
|
|
|
|
|
|
|
||||||
Equity in undistributed income of bank subsidiaries
|
|
(166,797
|
)
|
|
(37,515
|
)
|
|
(181,552
|
)
|
|||
Equity in undistributed income of non-bank subsidiaries
|
|
10,768
|
|
|
12,914
|
|
|
9,545
|
|
|||
Change in other assets
|
|
(5,075
|
)
|
|
(1,072
|
)
|
|
12
|
|
|||
Change in other liabilities
|
|
855
|
|
|
(13,434
|
)
|
|
7,457
|
|
|||
Net cash provided by operating activities
|
|
340,509
|
|
|
406,539
|
|
|
170,106
|
|
|||
Cash Flows From Investing Activities:
|
|
|
|
|
|
|
||||||
Proceeds from sales of available for sale securities
|
|
—
|
|
|
—
|
|
|
3,000
|
|
|||
Investment in subsidiaries
|
|
(19,837
|
)
|
|
(31,901
|
)
|
|
(4,355
|
)
|
|||
Acquisitions, net of cash acquired
|
|
—
|
|
|
(232,680
|
)
|
|
—
|
|
|||
Net cash used in investing activities
|
|
(19,837
|
)
|
|
(264,581
|
)
|
|
(1,355
|
)
|
|||
Cash Flows From Financing Activities:
|
|
|
|
|
|
|
||||||
Net change in other borrowed funds
|
|
—
|
|
|
—
|
|
|
(7,217
|
)
|
|||
Issuance of common and treasury stock, net
|
|
(7
|
)
|
|
(88
|
)
|
|
4,368
|
|
|||
Dividends paid
|
|
(143,496
|
)
|
|
(127,188
|
)
|
|
(116,041
|
)
|
|||
Repurchase of common stock
|
|
(129,483
|
)
|
|
(53,465
|
)
|
|
(7,403
|
)
|
|||
Net cash used in financing activities
|
|
(272,986
|
)
|
|
(180,741
|
)
|
|
(126,293
|
)
|
|||
Net increase (decrease) in cash and cash equivalents
|
|
47,686
|
|
|
(38,783
|
)
|
|
42,458
|
|
|||
Cash and cash equivalents at beginning of period
|
|
167,093
|
|
|
205,876
|
|
|
163,418
|
|
|||
Cash and cash equivalents at end of period
|
|
$
|
214,779
|
|
|
$
|
167,093
|
|
|
$
|
205,876
|
|
Cash paid for interest
|
|
$
|
15,099
|
|
|
$
|
11,457
|
|
|
$
|
6,211
|
|
Annual Financial Summary – Unaudited
Consolidated Daily Average Balances, Average Yields and Rates
|
|||||||||||
(Dollars in Thousands, Except Per Share Data)
|
|
Year Ended
|
|||||||||
|
|
December 31, 2019
|
|||||||||
|
|
Average
Balance
|
|
Revenue/
Expense
|
|
Yield/
Rate
|
|||||
Assets
|
|
|
|
|
|
|
|||||
Interest-bearing cash and cash equivalents
|
|
$
|
536,853
|
|
|
$
|
12,214
|
|
|
2.28
|
%
|
Trading securities
|
|
1,772,660
|
|
|
61,960
|
|
|
3.55
|
%
|
||
Investment securities
|
|
319,451
|
|
|
14,417
|
|
|
4.51
|
%
|
||
Available for sale securities
|
|
10,108,409
|
|
|
254,101
|
|
|
2.58
|
%
|
||
Fair value option securities
|
|
1,145,800
|
|
|
32,936
|
|
|
2.95
|
%
|
||
Restricted equity securities
|
|
441,756
|
|
|
26,860
|
|
|
6.08
|
%
|
||
Residential mortgage loans held for sale
|
|
186,207
|
|
|
7,105
|
|
|
3.82
|
%
|
||
Loans
|
|
22,106,979
|
|
|
1,134,037
|
|
|
5.13
|
%
|
||
Allowance for loan losses
|
|
(204,679
|
)
|
|
|
|
|
||||
Loans, net of allowance
|
|
21,902,300
|
|
|
1,134,037
|
|
|
5.18
|
%
|
||
Total earning assets
|
|
36,413,436
|
|
|
1,543,630
|
|
|
4.27
|
%
|
||
Receivable on unsettled securities sales
|
|
1,597,098
|
|
|
|
|
|
||||
Cash and other assets
|
|
4,083,813
|
|
|
|
|
|
||||
Total assets
|
|
$
|
42,094,347
|
|
|
|
|
|
|||
|
|
|
|
|
|
|
|||||
Liabilities and equity
|
|
|
|
|
|
|
|||||
Interest-bearing deposits:
|
|
|
|
|
|
|
|||||
Transaction
|
|
$
|
13,072,914
|
|
|
$
|
132,854
|
|
|
1.02
|
%
|
Savings
|
|
553,057
|
|
|
677
|
|
|
0.12
|
%
|
||
Time
|
|
2,215,405
|
|
|
42,007
|
|
|
1.90
|
%
|
||
Total interest-bearing deposits
|
|
15,841,376
|
|
|
175,538
|
|
|
1.11
|
%
|
||
Funds purchased and repurchase agreements
|
|
2,838,161
|
|
|
53,003
|
|
|
1.87
|
%
|
||
Other borrowings
|
|
7,147,356
|
|
|
175,425
|
|
|
2.45
|
%
|
||
Subordinated debentures
|
|
276,075
|
|
|
15,113
|
|
|
5.47
|
%
|
||
Total interest-bearing liabilities
|
|
26,102,968
|
|
|
419,079
|
|
|
1.61
|
%
|
||
Non-interest bearing demand deposits
|
|
9,809,905
|
|
|
|
|
|
||||
Due on unsettled securities purchases
|
|
702,450
|
|
|
|
|
|
||||
Other liabilities
|
|
801,475
|
|
|
|
|
|
||||
Total equity
|
|
4,677,549
|
|
|
|
|
|
||||
Total liabilities and equity
|
|
$
|
42,094,347
|
|
|
|
|
|
|||
|
|
|
|
|
|
|
|||||
Tax-equivalent Net Interest Revenue
|
|
|
|
$
|
1,124,551
|
|
|
2.66
|
%
|
||
Tax-equivalent Net Interest Revenue to Earning Assets
|
|
|
|
|
|
3.11
|
%
|
||||
Less tax-equivalent adjustment
|
|
|
|
11,672
|
|
|
|
||||
Net Interest Revenue
|
|
|
|
1,112,879
|
|
|
|
||||
Provision for credit losses
|
|
|
|
44,000
|
|
|
|
||||
Other operating revenue
|
|
|
|
694,370
|
|
|
|
||||
Other operating expense
|
|
|
|
1,132,381
|
|
|
|
||||
Net income before taxes
|
|
|
|
630,868
|
|
|
|
||||
Federal and state income taxes
|
|
|
|
130,183
|
|
|
|
||||
Net income
|
|
|
|
500,685
|
|
|
|
||||
Net income attributable to non-controlling interests
|
|
|
|
(73
|
)
|
|
|
||||
Net income attributable to BOK Financial Corporation shareholders
|
|
|
|
$
|
500,758
|
|
|
|
|||
Earnings Per Average Common Share Equivalent:
|
|
|
|
|
|
|
|
|
|
||
Net income:
|
|
|
|
|
|
|
|
|
|
||
Basic
|
|
|
|
|
$
|
7.03
|
|
|
|
|
|
Diluted
|
|
|
|
|
$
|
7.03
|
|
|
|
|
Annual Financial Summary – Unaudited (continued)
Consolidated Daily Average Balances, Average Yields and Rates
|
|||||||||||||||||||||
(Dollars in Thousands, Except Per Share Data)
|
Year Ended
|
||||||||||||||||||||
|
December 31, 2018
|
|
December 31, 2017
|
||||||||||||||||||
|
Average
Balance |
|
Revenue/
Expense |
|
Yield/
Rate |
|
Average
Balance |
|
Revenue/
Expense |
|
Yield/
Rate |
||||||||||
Assets
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Interest-bearing cash and cash equivalents
|
$
|
1,240,600
|
|
|
$
|
22,333
|
|
|
1.80
|
%
|
|
$
|
2,009,011
|
|
|
$
|
22,128
|
|
|
1.10
|
%
|
Trading securities
|
1,530,400
|
|
|
57,948
|
|
|
3.84
|
%
|
|
521,742
|
|
|
17,637
|
|
|
3.51
|
%
|
||||
Investment securities
|
395,895
|
|
|
15,848
|
|
|
4.00
|
%
|
|
491,989
|
|
|
18,792
|
|
|
3.82
|
%
|
||||
Available for sale securities
|
8,309,355
|
|
|
197,472
|
|
|
2.35
|
%
|
|
8,453,415
|
|
|
178,068
|
|
|
2.13
|
%
|
||||
Fair value option securities
|
464,160
|
|
|
15,205
|
|
|
3.18
|
%
|
|
593,744
|
|
|
16,755
|
|
|
2.81
|
%
|
||||
Restricted equity securities
|
347,447
|
|
|
21,555
|
|
|
6.20
|
%
|
|
318,744
|
|
|
18,490
|
|
|
5.80
|
%
|
||||
Residential mortgage loans held for sale
|
201,218
|
|
|
8,123
|
|
|
4.07
|
%
|
|
245,133
|
|
|
8,706
|
|
|
3.59
|
%
|
||||
Loans
|
18,709,433
|
|
|
898,896
|
|
|
4.80
|
%
|
|
17,176,102
|
|
|
709,378
|
|
|
4.13
|
%
|
||||
Allowance for loan losses
|
(218,840
|
)
|
|
|
|
|
|
(249,430
|
)
|
|
|
|
|
||||||||
Loans, net of allowance
|
18,490,593
|
|
|
898,896
|
|
|
4.86
|
%
|
|
16,926,672
|
|
|
709,378
|
|
|
4.19
|
%
|
||||
Total earning assets
|
30,979,668
|
|
|
1,237,380
|
|
|
3.98
|
%
|
|
29,560,450
|
|
|
989,954
|
|
|
3.36
|
%
|
||||
Receivable on unsettled securities sales
|
795,723
|
|
|
|
|
|
|
545,338
|
|
|
|
|
|
||||||||
Cash and other assets
|
3,162,139
|
|
|
|
|
|
|
2,841,706
|
|
|
|
|
|
||||||||
Total assets
|
$
|
34,937,530
|
|
|
|
|
|
|
$
|
32,947,494
|
|
|
|
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Liabilities and equity
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Interest-bearing deposits:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Transaction
|
$
|
10,581,732
|
|
|
$
|
65,859
|
|
|
0.62
|
%
|
|
$
|
10,220,068
|
|
|
$
|
28,627
|
|
|
0.28
|
%
|
Savings
|
503,597
|
|
|
439
|
|
|
0.09
|
%
|
|
458,451
|
|
|
359
|
|
|
0.08
|
%
|
||||
Time
|
2,133,427
|
|
|
29,219
|
|
|
1.37
|
%
|
|
2,193,273
|
|
|
24,817
|
|
|
1.13
|
%
|
||||
Total interest-bearing deposits
|
13,218,756
|
|
|
95,517
|
|
|
0.72
|
%
|
|
12,871,792
|
|
|
53,803
|
|
|
0.42
|
%
|
||||
Funds purchased and repurchase agreements
|
883,904
|
|
|
9,207
|
|
|
1.04
|
%
|
|
491,855
|
|
|
856
|
|
|
0.17
|
%
|
||||
Other borrowings
|
6,236,441
|
|
|
129,008
|
|
|
2.07
|
%
|
|
5,919,292
|
|
|
68,152
|
|
|
1.15
|
%
|
||||
Subordinated debentures
|
177,884
|
|
|
9,827
|
|
|
5.52
|
%
|
|
147,954
|
|
|
8,239
|
|
|
5.57
|
%
|
||||
Total interest-bearing liabilities
|
20,516,985
|
|
|
243,559
|
|
|
1.19
|
%
|
|
19,430,893
|
|
|
131,050
|
|
|
0.67
|
%
|
||||
Non-interest bearing demand deposits
|
9,590,455
|
|
|
|
|
|
|
9,312,989
|
|
|
|
|
|
||||||||
Due on unsettled securities purchases
|
531,071
|
|
|
|
|
|
|
183,902
|
|
|
|
|
|
||||||||
Other liabilities
|
559,801
|
|
|
|
|
|
|
584,843
|
|
|
|
|
|
||||||||
Total equity
|
3,739,218
|
|
|
|
|
|
|
3,434,867
|
|
|
|
|
|
||||||||
Total liabilities and equity
|
$
|
34,937,530
|
|
|
|
|
|
|
$
|
32,947,494
|
|
|
|
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Tax-equivalent Net Interest Revenue
|
|
|
$
|
993,821
|
|
|
2.79
|
%
|
|
|
|
$
|
858,904
|
|
|
2.69
|
%
|
||||
Tax-equivalent Net Interest Revenue to Earning Assets
|
|
|
|
|
3.20
|
%
|
|
|
|
|
|
2.92
|
%
|
||||||||
Less tax-equivalent adjustment
|
|
|
8,954
|
|
|
|
|
|
|
17,203
|
|
|
|
||||||||
Net Interest Revenue
|
|
|
984,867
|
|
|
|
|
|
|
841,701
|
|
|
|
||||||||
Provision for credit losses
|
|
|
8,000
|
|
|
|
|
|
|
(7,000
|
)
|
|
|
||||||||
Other operating revenue
|
|
|
616,784
|
|
|
|
|
|
|
695,094
|
|
|
|
||||||||
Other operating expense
|
|
|
1,028,166
|
|
|
|
|
|
|
1,025,517
|
|
|
|
||||||||
Net income before taxes
|
|
|
565,485
|
|
|
|
|
|
|
518,278
|
|
|
|
||||||||
Federal and state income taxes
|
|
|
119,061
|
|
|
|
|
|
|
182,593
|
|
|
|
||||||||
Net income
|
|
|
446,424
|
|
|
|
|
|
|
335,685
|
|
|
|
||||||||
Net income attributable to non-controlling interests
|
|
|
778
|
|
|
|
|
|
|
1,041
|
|
|
|
||||||||
Net income attributable to BOK Financial Corporation shareholders
|
|
|
$
|
445,646
|
|
|
|
|
|
|
$
|
334,644
|
|
|
|
||||||
Earnings Per Average Common Share Equivalent:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Net income:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Basic
|
|
|
|
$
|
6.63
|
|
|
|
|
|
|
|
$
|
5.11
|
|
|
|
||||
Diluted
|
|
|
|
$
|
6.63
|
|
|
|
|
|
|
|
$
|
5.11
|
|
|
|
Quarterly Financial Summary – Unaudited
Consolidated Daily Average Balances, Average Yields and Rates
|
||||||||||||||||||||||
(In Thousands, Except Per Share Data)
|
|
Three Months Ended
|
||||||||||||||||||||
|
|
December 31, 2019
|
|
September 30, 2019
|
||||||||||||||||||
|
|
Average
Balance
|
|
Revenue/
Expense
|
|
Yield/
Rate
|
|
Average
Balance
|
|
Revenue/
Expense
|
|
Yield/
Rate
|
||||||||||
Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Interest-bearing cash and cash equivalents
|
|
$
|
573,203
|
|
|
$
|
2,335
|
|
|
1.62
|
%
|
|
$
|
500,823
|
|
|
$
|
3,050
|
|
|
2.42
|
%
|
Trading securities
|
|
1,672,426
|
|
|
13,015
|
|
|
3.19
|
%
|
|
1,696,568
|
|
|
14,546
|
|
|
3.49
|
%
|
||||
Investment securities
|
|
298,567
|
|
|
3,500
|
|
|
4.69
|
%
|
|
308,090
|
|
|
3,434
|
|
|
4.46
|
%
|
||||
Available for sale securities
|
|
11,333,524
|
|
|
69,692
|
|
|
2.52
|
%
|
|
10,747,439
|
|
|
67,640
|
|
|
2.60
|
%
|
||||
Fair value option securities
|
|
1,521,528
|
|
|
9,488
|
|
|
2.62
|
%
|
|
1,553,879
|
|
|
10,708
|
|
|
2.79
|
%
|
||||
Restricted equity securities
|
|
479,687
|
|
|
6,441
|
|
|
5.37
|
%
|
|
476,781
|
|
|
7,558
|
|
|
6.34
|
%
|
||||
Residential mortgage loans held for sale
|
|
203,535
|
|
|
1,797
|
|
|
3.55
|
%
|
|
203,319
|
|
|
1,891
|
|
|
3.73
|
%
|
||||
Loans
|
|
22,236,000
|
|
|
266,315
|
|
|
4.75
|
%
|
|
22,412,918
|
|
|
289,316
|
|
|
5.12
|
%
|
||||
Allowance for loan losses
|
|
(205,417
|
)
|
|
|
|
|
|
(201,714
|
)
|
|
|
|
|
||||||||
Loans, net of allowance
|
|
22,030,583
|
|
|
266,315
|
|
|
4.80
|
%
|
|
22,211,204
|
|
|
289,316
|
|
|
5.17
|
%
|
||||
Total earning assets
|
|
38,113,053
|
|
|
372,583
|
|
|
3.93
|
%
|
|
37,698,103
|
|
|
398,143
|
|
|
4.25
|
%
|
||||
Receivable on unsettled securities sales
|
|
1,973,604
|
|
|
|
|
|
|
1,742,794
|
|
|
|
|
|
||||||||
Cash and other assets
|
|
4,126,697
|
|
|
|
|
|
|
4,139,451
|
|
|
|
|
|
||||||||
Total assets
|
|
$
|
44,213,354
|
|
|
|
|
|
|
$
|
43,580,348
|
|
|
|
|
|
||||||
Liabilities and equity
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Interest-bearing deposits:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Transaction
|
|
$
|
14,685,385
|
|
|
$
|
36,897
|
|
|
1.00
|
%
|
|
$
|
13,131,542
|
|
|
$
|
35,713
|
|
|
1.08
|
%
|
Savings
|
|
554,605
|
|
|
154
|
|
|
0.11
|
%
|
|
557,122
|
|
|
190
|
|
|
0.14
|
%
|
||||
Time
|
|
2,247,717
|
|
|
10,970
|
|
|
1.94
|
%
|
|
2,251,800
|
|
|
11,014
|
|
|
1.94
|
%
|
||||
Total interest-bearing deposits
|
|
17,487,707
|
|
|
48,021
|
|
|
1.09
|
%
|
|
15,940,464
|
|
|
46,917
|
|
|
1.17
|
%
|
||||
Funds purchased and repurchase agreements
|
|
4,120,610
|
|
|
16,212
|
|
|
1.56
|
%
|
|
3,106,163
|
|
|
15,731
|
|
|
2.01
|
%
|
||||
Other borrowings
|
|
6,247,194
|
|
|
31,621
|
|
|
2.01
|
%
|
|
8,125,023
|
|
|
49,650
|
|
|
2.42
|
%
|
||||
Subordinated debentures
|
|
275,916
|
|
|
3,754
|
|
|
5.40
|
%
|
|
275,900
|
|
|
3,813
|
|
|
5.48
|
%
|
||||
Total interest-bearing liabilities
|
|
28,131,427
|
|
|
99,608
|
|
|
1.40
|
%
|
|
27,447,550
|
|
|
116,111
|
|
|
1.68
|
%
|
||||
Non-interest bearing demand deposits
|
|
9,612,533
|
|
|
|
|
|
|
9,759,710
|
|
|
|
|
|
||||||||
Due on unsettled securities purchases
|
|
784,174
|
|
|
|
|
|
|
745,893
|
|
|
|
|
|
||||||||
Other liabilities
|
|
837,732
|
|
|
|
|
|
|
847,195
|
|
|
|
|
|
||||||||
Total equity
|
|
4,847,488
|
|
|
|
|
|
|
4,780,000
|
|
|
|
|
|
||||||||
Total liabilities and equity
|
|
$
|
44,213,354
|
|
|
|
|
|
|
$
|
43,580,348
|
|
|
|
|
|
||||||
Tax-equivalent Net Interest Revenue
|
|
|
|
$
|
272,975
|
|
|
2.53
|
%
|
|
|
|
$
|
282,032
|
|
|
2.57
|
%
|
||||
Tax-equivalent Net Interest Revenue to Earning Assets
|
|
|
|
|
|
2.88
|
%
|
|
|
|
|
|
3.01
|
%
|
||||||||
Less tax-equivalent adjustment
|
|
|
|
2,726
|
|
|
|
|
|
|
2,936
|
|
|
|
||||||||
Net Interest Revenue
|
|
|
|
270,249
|
|
|
|
|
|
|
279,096
|
|
|
|
||||||||
Provision for credit losses
|
|
|
|
19,000
|
|
|
|
|
|
|
12,000
|
|
|
|
||||||||
Other operating revenue
|
|
|
|
178,585
|
|
|
|
|
|
|
186,450
|
|
|
|
||||||||
Other operating expense
|
|
|
|
288,795
|
|
|
|
|
|
|
279,292
|
|
|
|
||||||||
Net income before taxes
|
|
|
|
141,039
|
|
|
|
|
|
|
174,254
|
|
|
|
||||||||
Federal and state income taxes
|
|
|
|
30,257
|
|
|
|
|
|
|
32,396
|
|
|
|
||||||||
Net income
|
|
|
|
110,782
|
|
|
|
|
|
|
141,858
|
|
|
|
||||||||
Net income attributable to non-controlling interests
|
|
|
|
430
|
|
|
|
|
|
|
(373
|
)
|
|
|
||||||||
Net income attributable to BOK Financial Corp. shareholders
|
|
|
|
$
|
110,352
|
|
|
|
|
|
|
$
|
142,231
|
|
|
|
||||||
Earnings Per Average Common Share Equivalent:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Basic
|
|
|
|
|
$
|
1.56
|
|
|
|
|
|
|
|
|
$
|
2.00
|
|
|
|
|
||
Diluted
|
|
|
|
|
$
|
1.56
|
|
|
|
|
|
|
|
|
$
|
2.00
|
|
|
|
|
Quarterly Financial Summary – Unaudited (continued)
Consolidated Daily Average Balances, Average Yields and Rates
|
|||||||||||||||||||||||||||||||
Three Months Ended
|
|||||||||||||||||||||||||||||||
June 30, 2019
|
|
March 31, 2019
|
|
December 31, 2018
|
|||||||||||||||||||||||||||
Average Balance
|
|
Revenue /Expense
|
|
Yield / Rate
|
|
Average Balance
|
|
Revenue / Expense
|
|
Yield / Rate
|
|
Average Balance
|
|
Revenue / Expense
|
|
Yield / Rate
|
|||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
$
|
535,491
|
|
|
$
|
3,432
|
|
|
2.57
|
%
|
|
$
|
537,903
|
|
|
$
|
3,397
|
|
|
2.56
|
%
|
|
$
|
563,132
|
|
|
$
|
3,170
|
|
|
2.23
|
%
|
1,757,335
|
|
|
15,609
|
|
|
3.59
|
%
|
|
1,968,399
|
|
|
18,790
|
|
|
3.88
|
%
|
|
1,929,601
|
|
|
19,636
|
|
|
4.10
|
%
|
||||||
328,482
|
|
|
3,621
|
|
|
4.41
|
%
|
|
343,282
|
|
|
3,862
|
|
|
4.50
|
%
|
|
364,737
|
|
|
3,887
|
|
|
4.26
|
%
|
||||||
9,435,668
|
|
|
59,888
|
|
|
2.63
|
%
|
|
8,883,054
|
|
|
56,881
|
|
|
2.57
|
%
|
|
8,704,963
|
|
|
55,085
|
|
|
2.51
|
%
|
||||||
898,772
|
|
|
7,503
|
|
|
3.34
|
%
|
|
594,349
|
|
|
5,237
|
|
|
3.62
|
%
|
|
277,575
|
|
|
2,578
|
|
|
3.56
|
%
|
||||||
413,812
|
|
|
6,516
|
|
|
6.30
|
%
|
|
395,432
|
|
|
6,345
|
|
|
6.42
|
%
|
|
362,729
|
|
|
5,798
|
|
|
6.39
|
%
|
||||||
192,102
|
|
|
1,754
|
|
|
3.65
|
%
|
|
145,040
|
|
|
1,663
|
|
|
4.58
|
%
|
|
179,553
|
|
|
1,795
|
|
|
4.00
|
%
|
||||||
22,004,405
|
|
|
295,978
|
|
|
5.39
|
%
|
|
21,766,065
|
|
|
282,428
|
|
|
5.26
|
%
|
|
21,579,331
|
|
|
276,711
|
|
|
5.09
|
%
|
||||||
(205,532
|
)
|
|
|
|
|
|
(206,092
|
)
|
|
|
|
|
|
(209,613
|
)
|
|
|
|
|
||||||||||||
21,798,873
|
|
|
295,978
|
|
|
5.45
|
%
|
|
21,559,973
|
|
|
282,428
|
|
|
5.31
|
%
|
|
21,369,718
|
|
|
276,711
|
|
|
5.14
|
%
|
||||||
35,360,535
|
|
|
394,301
|
|
|
4.51
|
%
|
|
34,427,432
|
|
|
378,603
|
|
|
4.46
|
%
|
|
33,752,008
|
|
|
368,660
|
|
|
4.33
|
%
|
||||||
1,437,462
|
|
|
|
|
|
|
1,224,700
|
|
|
|
|
|
|
799,548
|
|
|
|
|
|
||||||||||||
4,046,780
|
|
|
|
|
|
|
4,020,549
|
|
|
|
|
|
|
3,834,187
|
|
|
|
|
|
||||||||||||
$
|
40,844,777
|
|
|
|
|
|
|
$
|
39,672,681
|
|
|
|
|
|
|
$
|
38,385,743
|
|
|
|
|
|
|||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
$
|
12,512,282
|
|
|
$
|
32,540
|
|
|
1.04
|
%
|
|
$
|
11,931,539
|
|
|
$
|
27,704
|
|
|
0.94
|
%
|
|
$
|
11,773,651
|
|
|
$
|
23,343
|
|
|
0.79
|
%
|
558,738
|
|
|
173
|
|
|
0.12
|
%
|
|
541,575
|
|
|
160
|
|
|
0.12
|
%
|
|
526,275
|
|
|
148
|
|
|
0.11
|
%
|
||||||
2,207,391
|
|
|
10,470
|
|
|
1.90
|
%
|
|
2,153,277
|
|
|
9,553
|
|
|
1.80
|
%
|
|
2,146,786
|
|
|
8,309
|
|
|
1.54
|
%
|
||||||
15,278,411
|
|
|
43,183
|
|
|
1.13
|
%
|
|
14,626,391
|
|
|
37,417
|
|
|
1.04
|
%
|
|
14,446,712
|
|
|
31,800
|
|
|
0.87
|
%
|
||||||
2,066,950
|
|
|
10,704
|
|
|
2.08
|
%
|
|
2,033,036
|
|
|
10,356
|
|
|
2.07
|
%
|
|
1,205,568
|
|
|
4,135
|
|
|
1.36
|
%
|
||||||
7,175,617
|
|
|
47,700
|
|
|
2.67
|
%
|
|
7,040,279
|
|
|
46,454
|
|
|
2.68
|
%
|
|
6,361,141
|
|
|
40,220
|
|
|
2.51
|
%
|
||||||
275,887
|
|
|
3,801
|
|
|
5.53
|
%
|
|
275,882
|
|
|
3,745
|
|
|
5.51
|
%
|
|
276,378
|
|
|
3,752
|
|
|
5.38
|
%
|
||||||
24,796,865
|
|
|
105,388
|
|
|
1.70
|
%
|
|
23,975,588
|
|
|
97,972
|
|
|
1.66
|
%
|
|
22,289,799
|
|
|
79,907
|
|
|
1.42
|
%
|
||||||
9,883,965
|
|
|
|
|
|
|
9,988,088
|
|
|
|
|
|
|
10,648,683
|
|
|
|
|
|
||||||||||||
821,688
|
|
|
|
|
|
|
453,937
|
|
|
|
|
|
|
493,887
|
|
|
|
|
|
||||||||||||
744,216
|
|
|
|
|
|
|
775,574
|
|
|
|
|
|
|
610,286
|
|
|
|
|
|
||||||||||||
4,598,043
|
|
|
|
|
|
|
4,479,494
|
|
|
|
|
|
|
4,343,088
|
|
|
|
|
|
||||||||||||
$
|
40,844,777
|
|
|
|
|
|
|
$
|
39,672,681
|
|
|
|
|
|
|
$
|
38,385,743
|
|
|
|
|
|
|||||||||
|
|
$
|
288,913
|
|
|
2.81
|
%
|
|
|
|
$
|
280,631
|
|
|
2.80
|
%
|
|
|
|
$
|
288,753
|
|
|
2.91
|
%
|
||||||
|
|
|
|
3.30
|
%
|
|
|
|
|
|
3.30
|
%
|
|
|
|
|
|
3.40
|
%
|
||||||||||||
|
|
3,481
|
|
|
|
|
|
|
2,529
|
|
|
|
|
|
|
3,067
|
|
|
|
||||||||||||
|
|
285,432
|
|
|
|
|
|
|
278,102
|
|
|
|
|
|
|
285,686
|
|
|
|
||||||||||||
|
|
5,000
|
|
|
|
|
|
|
8,000
|
|
|
|
|
|
|
9,000
|
|
|
|
||||||||||||
|
|
172,065
|
|
|
|
|
|
|
157,270
|
|
|
|
|
|
|
136,455
|
|
|
|
||||||||||||
|
|
277,137
|
|
|
|
|
|
|
287,157
|
|
|
|
|
|
|
284,643
|
|
|
|
||||||||||||
|
|
175,360
|
|
|
|
|
|
|
140,215
|
|
|
|
|
|
|
128,498
|
|
|
|
||||||||||||
|
|
37,580
|
|
|
|
|
|
|
29,950
|
|
|
|
|
|
|
20,121
|
|
|
|
||||||||||||
|
|
137,780
|
|
|
|
|
|
|
110,265
|
|
|
|
|
|
|
108,377
|
|
|
|
||||||||||||
|
|
217
|
|
|
|
|
|
|
(347
|
)
|
|
|
|
|
|
(79
|
)
|
|
|
||||||||||||
|
|
$
|
137,563
|
|
|
|
|
|
|
$
|
110,612
|
|
|
|
|
|
|
$
|
108,456
|
|
|
|
|||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
|
|
|
$
|
1.93
|
|
|
|
|
|
|
|
|
$
|
1.54
|
|
|
|
|
|
|
|
|
$
|
1.50
|
|
|
|
|
|||
|
|
|
$
|
1.93
|
|
|
|
|
|
|
|
|
$
|
1.54
|
|
|
|
|
|
|
|
|
$
|
1.50
|
|
|
|
|
Exhibit Number
|
Description of Exhibit
|
|
|
2.0
|
|
|
|
3.0
|
The Articles of Incorporation of BOK Financial, incorporated by reference to (i) Amended and Restated Certificate of Incorporation of BOK Financial filed with the Oklahoma Secretary of State on May 28, 1991, filed as Exhibit 3.0 to S-1 Registration Statement No. 33-90450, and (ii) Amendment attached as Exhibit A to Information Statement and Prospectus Supplement filed November 20, 1991.
|
|
|
3.1
|
|
|
|
4.0
|
The rights of the holders of the Common Stock of BOK Financial are set forth in its Certificate of Incorporation.
|
|
|
4.1
|
|
|
|
4.2
|
|
|
|
|
Pursuant to Item 601(b)(4)(iii)(A) of Regulation S-K, BOK Financial is not filing certain documents. BOK Financial agrees to furnish a copy of each such documents to the Commission upon the request of the Commission.
|
|
|
4.3
|
|
|
|
4.5
|
|
|
|
10.4
|
Employment and Compensation Agreements.
|
|
|
10.4.2
|
|
|
|
10.4.2 (a)
|
|
|
|
10.4.2 (b)
|
|
|
|
10.4.7
|
|
|
|
10.4.9
|
|
|
|
10.4.10
|
|
|
|
10.4.11
|
|
|
|
10.7.7
|
|
|
|
Exhibit Number
|
Description of Exhibit
|
10.7.8
|
BOK Financial Corporation Directors' Stock Compensation Plan, incorporated by reference to Exhibit 4.0 of S-8 Registration Statement No. 33-79836.
|
|
|
10.7.9
|
Bank of Oklahoma Thrift Plan (Amended and Restated Effective as of January 1, 1995), incorporated by reference to Exhibit 10.7.6 of Form 10-K for the year ended December 31, 1994.
|
|
|
10.7.10
|
Trust Agreement for the Bank of Oklahoma Thrift Plan (December 30, 1994), incorporated by reference to Exhibit 10.7.7 of Form 10-K for the year ended December 31, 1994.
|
|
|
10.7.11
|
|
|
|
10.7.12
|
|
|
|
10.7.13
|
|
|
|
10.7.14
|
|
|
|
10.7.16
|
|
|
|
10.8
|
|
|
|
10.8.1
|
|
|
|
21
|
|
|
|
23
|
|
|
|
31.1
|
|
|
|
31.2
|
|
|
|
32
|
|
|
|
99
|
Additional Exhibits.
|
|
|
101
|
Interactive data files pursuant to Rule 405 of Regulation S-T: (i) the Consolidated Balance Sheets, (ii) the Consolidated Statements of Earnings, (iii) the Consolidated Statements of Changes in Equity, (iv) the Consolidated Statement of Cash Flows and (v) the Notes to the Consolidated Financial Statements, filed herewith. The XBRL instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.
|
/s/ George B. Kaiser
|
|
/s/ Steven G. Bradshaw
|
George B. Kaiser
Chairman of the Board of Directors
|
|
Steven G. Bradshaw
Director, President and Chief Executive Officer
|
/s/ Steven E. Nell
|
|
/s/ John C. Morrow
|
Steven E. Nell
Director, Executive Vice President and
Chief Financial Officer
|
|
John C. Morrow
Senior Vice President and
Chief Accounting Officer
|
|
|
/s/ Douglas D. Hawthorne
|
Alan S. Armstrong
|
|
Douglas D. Hawthorne
|
/s/ C. Frederick Ball, Jr.
|
|
/s/ Kimberley D. Henry
|
C. Frederick Ball, Jr.
|
|
Kimberley D. Henry
|
/s/ Steve Bangert
|
|
/s/ E. Carey Joullian, IV
|
Steve Bangert
|
|
E. Carey Joullian, IV
|
/s/ Peter C. Boylan III
|
|
/s/ Stanley A. Lybarger
|
Peter C. Boylan III
|
|
Stanley A. Lybarger
|
/s/ Chester E. Cadieux, III
|
|
/s/ Steven J. Malcolm
|
Chester E. Cadieux, III
|
|
Steven J. Malcolm
|
/s/ Gerard P. Clancy
|
|
/s/ Emmet C. Richards
|
Gerard P. Clancy
|
|
Emmet C. Richards
|
/s/ John W. Coffey
|
|
|
John W. Coffey
|
|
Claudia San Pedro
|
/s/ Joseph W. Craft, III
|
|
/s/ Michael C. Turpen
|
Joseph W. Craft, III
|
|
Michael C. Turpen
|
/s/ Jack E. Finley
|
|
|
Jack E. Finley
|
|
R.A. Walker
|
/s/ David F. Griffin
|
|
/s/ Rose M. Washington
|
David F. Griffin
|
|
Rose M. Washington
|
/s/ V. Burns Hargis
|
|
|
V. Burns Hargis
|
|
|
1.
|
Certain Definitions
|
1
|
|
2.
|
Exhibits
|
8
|
|
3.
|
Term
|
9
|
|
4.
|
Condition
|
10
|
|
5.
|
Rent
|
11
|
|
6.
|
Security Deposit
|
13
|
|
7.
|
Possession and Use of Premises
|
14
|
|
8.
|
Utilities and Services
|
15
|
|
9.
|
Quiet Enjoyment
|
17
|
|
10.
|
Assignment and Subletting
|
18
|
|
11.
|
Recapture
|
20
|
|
12.
|
Maintenance and Repairs
|
20
|
|
13.
|
Alterations
|
22
|
|
14.
|
Allocation of Risks and Indemnification
|
25
|
|
15.
|
Insurance
|
27
|
|
16.
|
Default and Remedies
|
28
|
|
17.
|
Attorney's Fees
|
32
|
|
18.
|
Surrender of Premises
|
32
|
|
19.
|
Damage by Fire or Other Casualty
|
33
|
|
20.
|
Eminent Domain
|
35
|
|
21.
|
Rules and Regulations
|
36
|
|
22.
|
Landlord's Rights
|
36
|
|
23.
|
Tenant's Signage
|
38
|
|
24.
|
Estoppel Certificate
|
38
|
|
25.
|
Real Estate Brokers
|
39
|
|
26.
|
Subordination and Attornment
|
39
|
|
27.
|
Notices
|
41
|
|
28.
|
Miscellaneous
|
41
|
|
29.
|
Special Provisions
|
45
|
|
|
|
|
|
|
Exhibit "A": Delineation of the Premises
|
|
|
|
Exhibit "B": Returned Premises
|
|
|
|
Exhibit "C-1": [INTENTIONALLY DELETED]
|
|
|
|
Exhibit "C-2": [INTENTIONALLY DELETED]
|
|
|
|
Exhibit "D-1": Landlord's Statement of Expansion Premises
|
|
|
|
Exhibit "D-2": Landlord's Statement of Existing Premises
|
|
|
|
Exhibit "E": Rules and Regulations
|
|
|
|
Exhibit "F": Janitorial Specifications
|
|
|
|
Exhibit "G": As-Is Work Letter
|
|
|
|
Exhibit "H": Kiosk License Premises
|
|
1
|
Certain Definitions.
|
(i)
|
offices or agencies of a foreign government or political subdivisions thereof;
|
(ii)
|
offices of any governmental bureau or agency of the United States or any state or political subdivision thereof, other than an office or offices used by employees of the Office of the Comptroller of the Currency (the "OCC"), or similar federal banking regulatory agency who have been assigned by the OCC or similar federal banking regulatory agency to temporarily or permanently audit or exercise regulatory oversight authority over Tenant;
|
(iii)
|
personnel agencies; or
|
(iv)
|
customer service offices of any public utility company.
|
2.
|
Exhibits.
|
3.
|
Term.
|
4.
|
Condition.
|
5.
|
Rent.
|
7.
|
Possession and Use of Premises.
|
8.
|
Utilities and Services.
|
9.
|
Quiet Enjoyment.
|
10.
|
Assignment and Subletting
|
11.
|
Recapture.
|
12.
|
Maintenance and Repairs.
|
13.
|
Alterations.
|
14.
|
Allocation of Risks and Indemnification.
|
(A)
|
Workers' Compensation insurance complying with the laws of the State or States having jurisdiction over each employee, and Employer's Liability with limits of $500,000 each accident, $500,000 disease each employee, and $500,000 disease policy limit.
|
(B)
|
Commercial General Liability insurance on an occurrence form with a combined single limit of $2,000,000 each occurrence, and annual aggregates of $2,000,000, for bodily injury and property damage, including coverage for premises-operations, blanket contractual liability, broad form property damage, personal injury liability, independent contractors, and products/completed operations.
|
(C)
|
Automobile Liability insurance with a combined single limit of $1,000,000 each occurrence for bodily injury and property damage to include coverage for all owned, non-owned, and hired vehicles.
|
(D)
|
Property insurance on an "all risk" basis for the full replacement value of Tenant's property (including fixtures, Alterations, Tenant's trade fixtures, furnishings, equipment and all other items of personal property of Tenant or which Tenant is required to replace under this Lease in the event of loss, damage or destruction) located in the Premises.
|
(E)
|
Such other insurance as Landlord may reasonably require from time to time with ninety (90) days prior written notice to Tenant, so long as such other insurance is at such time customarily required by landlords of Class A office space in buildings of comparable size and quality in downtown Tulsa, Oklahoma.
|
16.
|
Default and Remedies.
|
17.
|
Attorney's Fees.
|
18.
|
Surrender of Premises.
|
19.
|
Damage by Fire or Other Casualty.
|
(i)
|
terminate this Lease as of the date of the fire or other casualty if Landlord's good faith estimate of the time required to substantially complete such repair or restoration will exceed one hundred eighty (180) days from the date of such notice and if Landlord is also terminating the lease of other tenants similarly situated subject to such casualty with a remaining lease term approximating the same period of time as that remaining in the Term; or
|
(ii)
|
proceed to repair or restore the Premises or the Building (other than Alterations installed by or for the benefit of Tenant, Tenant's trade fixtures, furnishings, equipment and all other items of personal property installed by or for the benefit of Tenant) to substantially the same condition as existed immediately prior to such fire or casualty. For avoidance of doubt, Landlord shall have no obligation to repair or restore any tenant improvements, including without limitation flooring, interior walls and partitions within the Premises, cabinetry, fixtures and interior ceilings.
|
20.
|
Eminent Domain.
|
21.
|
Rules and Regulations.
|
22.
|
Landlord's Rights.
|
23.
|
Tenant's Signage.
|
24.
|
Estoppel Certificate.
|
25.
|
Real Estate Brokers.
|
26.
|
Subordination and Attornment.
|
27.
|
Notices.
|
28.
|
Miscellaneous.
|
29.
|
Special Provisions.
|
1.
|
Landlord may refuse admission to the Building outside of ordinary business hours to any person not known to the watchman in charge or not properly identified, and may require all persons admitted to or leaving the Building outside of ordinary business hours to register. Any person whose presence in the Building at any time shall, in the reasonable judgment of Landlord, be prejudicial to the safety, character, reputation and interests of the Building or its Tenant may be denied access to the Building or may be ejected therefrom. In case of invasion, riot, public excitement or other commotion, Landlord may prevent all access to the Building during the continuance of the same, by closing the doors or otherwise, for the safety of the Tenant, the Building and protection of property in the Building. Landlord may require any person leaving the Building with any package or other object to exhibit a pass from the Tenant from whose Premises the package or object is being removed, but the establishment and enforcement of such requirement shall not impose any responsibility on Landlord for the protection of any Tenant for damages or loss arising from the admission, exclusion or ejection against the removal of property from the Premises of the Tenant. Landlord shall in no way be liable to any Tenant for damages or loss arising from the admission, exclusion or ejection of any person to or from the Tenant's Premises or the Building under the provisions of this rule.
|
2.
|
Landlord reserves the right to exclude or expel from the Building any person who in the judgment of Landlord is intoxicated or under the influence of liquor or drugs, or who shall in any manner do any act in violation of these Rules and Regulations.
|
3.
|
Tenant shall not sell or permit the sale, at retail or wholesale, of newspapers, magazines, periodicals or theater tickets, in or from their Premises; nor shall Tenant carry on or permit or allow any employee or other person to carry on the business of stenography, typewriting, telephone answering service, or any similar business in or from their Premises for the service or accommodation of the occupants of any other portion of the Building, or the business of a barber shop, beauty shop, tobacco or pipe shop, liquor store, employment bureau, or a manicuring or chiropodist business, except with the prior written approval of Landlord. Tenant shall not occupy or permit any portion of their Premises to be occupied as an office or facility for the possession, storage, manufacture or sale of narcotics of any form or kind, without the prior written approval of Landlord.
|
4.
|
Tenant shall not manufacture any commodity or prepare or dispense any foods or beverages in their Premises or use the same as sleeping apartments, unless the Premises are expressly leased for such purposes. The foregoing shall not prohibit in any way Tenant's use of a portion of the Premises as a lunch room/kitchen for us by Tenant with a microwave oven and such other typical office amenities.
|
5.
|
Tenant shall not conduct directly or indirectly any auction upon their Premises, or permit any other person to conduct an auction upon the Premises. Tenant is not to conduct malodorous activities in or about their Premises or the Building. Tenant will not permit gambling to be conducted in or upon its Premises.
|
6.
|
No noise, including the playing of any musical instruments, radio or television, which, in the judgment of Landlord, might disturb other tenants in the Building, shall be made or permitted by any Tenant, and no cooking shall be done in their Premises or the Building, except as expressly approved by Landlord. If cooking is permitted by Landlord, Tenant shall not permit any cooking or food odors emanating within the Building to seep into other portions of the Building. All electrical equipment used by Tenant shall be U.L. approved. Nothing shall be done or permitted in Tenant's Premises, and nothing shall be brought into or kept in the Premises which would impair or interfere with any of the Building services or the proper and economic heating, cooling, cleaning or other servicing of the Building or the Premises, or the use or enjoyment by any other tenant within the Building, nor shall there be installed by Tenant any ventilating, air- conditioning, electrical or other equipment of any kind, which, in the judgment of Landlord, might cause any such impairment or interference.
|
7.
|
Tenant shall not install or operate any steam or gas engine or boiler, or carry on any mechanical business, in the Building. The use of oil, gas or inflammable liquids for heating, lighting or any other purpose is expressly prohibited. Explosives or other articles deemed extra hazardous shall not be brought into the Building. Tenant shall not use any other method of heating than that supplied by Landlord.
|
8.
|
Tenant shall give Landlord prompt notice of all accidents to or defects in air-conditioning equipment, plumbing, electric facilities or any part or appurtenance of their Premises.
|
9.
|
Tenant shall not cause unnecessary labor by reason of carelessness and indifference to the preservation of good order and cleanliness in their Premises and in the Building. Waste and unnecessary use of electricity and other utilities is prohibited.
|
10.
|
Tenant shall use electric, gas and any other form of energy only from such sources of supply as are furnished in the Building.
|
11.
|
All deliveries to the Building for or by any Tenant are to be made through the service entrance to Building as designated by Landlord, unless special permission is granted by Landlord for the use of other Building entrances. Landlord reserves the right to inspect all freight to be brought into the Building and to exclude from the Building all freight which violates any of these Rules and Regulations or the Lease of which these Rules and Regulations are a part. Landlord further reserves the right to change the Building entrance to be utilized for deliveries.
|
12.
|
Furniture, equipment or supplies shall be moved in or out of the Building only upon the elevator designated by Landlord and then only during such hours and in such manner as may be prescribed by Landlord. Landlord shall have the absolute right to approve or disapprove
|
13.
|
Should any Tenant desire to place in the Building any unusually heavy equipment, including, but not limited to, large files, safes and electronic data processing equipment, it shall first obtain written approval of Landlord to place such items within the Building, for the use of the Building elevators, and for the proposed location in which such equipment is to be installed. Landlord shall have the power to prescribe the weight and position of any equipment that may exceed the weight load limits for the building structure, and may further require, at the Tenant's expense, the reinforcement of any flooring on which such equipment may be placed, and/or to have an engineering study performed to determine such weight and position of equipment, to determine added reinforcement required, and/or determine whether or not such equipment can be safely placed within the Building. Landlord shall not be responsible for the loss of or damage to such furniture or equipment from any cause. There shall not be used in any space, or in the public halls of the Building, either by Tenant or by jobbers or others, in the delivery or receipt of merchandise, any hand trucks, except those equipped with rubber tires and side guards.
|
14.
|
Tenant shall not place additional locks or bolts of any kind upon any of the doors or windows of their Premises and no lock on any door therein shall be changed or altered in any respect. Duplicate keys for Tenant's Premises and toilet rooms (if applicable) shall be procured only from Landlord, which may make a reasonable charge therefor. Upon the termination of a Tenant's lease, all keys of the Premises and toilet rooms shall be delivered to Landlord. Notwithstanding the foregoing, and subject to Landlord's prior approval of design and appearance, which approval shall not be unreasonably withheld, Tenant shall be permitted to place electric locks on entry doors to the Premises or within the Premises provided such comply with all Building and fire code requirements or other laws, ordinances or regulations which may be applicable thereto, and, in the event of an emergency, such doors-locks are automatically released to allow free ingress and egress to, from and within the Premises. In no event shall any secured areas include any of the mechanical/engineering rooms in or serving the Premises or Building. Tenant shall be required at all times to have designated an employee of Tenant and to provide the name of such individual to Landlord to allow Landlord's entry into and upon the Premises in accordance with Landlord's rights under this Lease. Landlord shall not be obligated to provide any services, notwithstanding any other provision of this Lease to the contrary, to any area to which Landlord does not have access during the ordinary and customary hours for providing such services unless Tenant makes arrangements for such access on terms and conditions acceptable to Landlord. Tenant shall be solely responsible throughout the Term and any renewals thereof for providing services requiring access not otherwise provided for herein to such areas and shall maintain such areas in a manner necessary for the health, safety and protection of the Premises, the Building and persons. In no event shall areas be equipped with electric locks which shall in any way interfere with Landlord's operation of the Building and security system of the Building. In no event shall the terms herein contained be deemed to increase the service or other obligations of Landlord contained in this Lease. Upon termination of this Lease, Tenant shall surrender to Landlord all keys or codes or other means of access to the Premises, and shall deliver to
|
15.
|
Intentionally deleted.
|
16.
|
Tenant shall permit the janitor of Landlord to clean their Premises. Landlord will not be responsible for lost or stolen personal property, equipment, money or any article taken from the Premises or Building, regardless of how or when loss occurs, unless caused by the gross negligence or intentional act of Landlord or its employees or agents.
|
17.
|
In no event shall Tenant leave any refuse in the public hallways or other areas. In the event Tenant must dispose of crates, boxes, etc., which will not fit into office wastepaper baskets, it will be the responsibility of the Tenant to label items as trash and notify Landlord of the need for disposal. Landlord reserves the right to require Tenant (at Tenant's expense) to dispose of any large items that are unable to fit in the Complex trash receptacles.
|
18.
|
Tenant shall not place in front of or affix to any part of the exterior of the Building, nor place in the halls, corridors or vestibules without the prior written consent of the Landlord any showcases or other articles.
|
19.
|
Landlord shall have the right to prohibit any advertising by Tenant which mentions the Building or Complex, which, in reasonable Landlord's opinion, tends to impair the reputation of the Building or its desirability as a building or offices; upon written notice from Landlord, Tenant shall refrain from and discontinue such advertising.
|
20.
|
Bicycles or other vehicles shall not be permitted in the offices, halls, corridors, lobbies and elevators of the Building, nor shall any obstruction of sidewalks or entrances of the Building by such be permitted.
|
21.
|
The sidewalks, entries, passages, elevators and staircases shall not be obstructed or used by Tenant, its servants, agents or visitors for any other purpose than ingress and egress to and from the respective offices.
|
22.
|
Canvassing, soliciting and peddling in the Building are prohibited and Tenant shall cooperate to prevent the same.
|
23.
|
No animals, birds, or pets of any kind, excluding seeing eye dogs, shall be allowed in Tenant's Premises or Building.
|
24.
|
The water closets, urinals, waste lines, vents or flues of the Building shall not be used for any purpose other than those for which they were constructed, and no rubbish, acids, vapors, newspapers or other such substances of any kind shall be thrown into them. The expense caused by any breakage, stoppage or damage resulting from a violation of this rule by any Tenant, its employees, visitors, guests or licensees, shall be paid by Tenant.
|
25.
|
If any Tenant desires radio signal, communication, alarm or other utility or service connection installed or changed, such work shall be done at the expense of Tenant, with the prior written approval of Landlord and under the direction of Landlord. Landlord's approval of such contractors shall not be unreasonably withheld or delayed and shall take into consideration all matters affecting the Building and Complex. No wiring shall be installed in any part of the Building without Landlord's approval and direction. Landlord reserves the right to disconnect any radio, signal or alarm system when, in Landlord's reasonable opinion, such installation or apparatus interferes with the proper operation of the Building or systems within the Building.
|
26.
|
Except with the approval of Landlord, Tenant shall not mark upon, paint signs upon, cut, drill into, drive nails or screws into, or in any way deface the walls, ceilings, partitions or floors of the Building (or the Premises, to the extent visible from the adjacent space) and the repair cost of any defacement, damage or injury caused by any Tenant, its agents or employees, shall be paid for by the Tenant. Landlord's approval shall not be unreasonably withheld or delayed, considering all matters affecting the Building and Premises, including, without limitation, visibility and re-leaseability, with respect to alterations, improvements, removals, additions or installations in or to the Premises which are of an aesthetic character and do not affect life safety, fire sprinkler, heating, ventilation, air conditioning, electrical or plumbing systems or equipment.
|
27.
|
All glass, lighting fixtures, locks and trimmings in or upon the doors and windows of the Premises shall be kept whole and whenever any part thereof shall be broken through cause attributable to any Tenant, its agents, guests or employees, the same shall promptly be replaced or repaired at Tenant's expense, and put in order under the direction and to the satisfaction of Landlord and shall be left whole or in good repair, together with the same number and kind of keys as may be received by Tenant on entering upon possession of any part of said Building, or during the tenancy.
|
28.
|
The cost of repairing any damage to the public portions of the Building or the public facilities or to any facilities used in common with other tenants, caused by any Tenant or the employees, licensees, agents or invitees of the Tenant, shall be paid by such Tenant.
|
29.
|
Tenant shall not install any resilient tile or floor covering in the Premises except in a manner approved by Landlord, which approval shall not be unreasonably withheld. Tenant shall not remove any carpet, or wall coverings, window blinds, or window draperies in their Premises without the prior written approval of Landlord.
|
30.
|
No awnings or other projections shall be attached to the outside walls of the Building or on or around the windows of the Premises by Tenant without the prior written consent of Landlord. No curtains, blinds, draperies, shades or screens shall be attached to or hung in, or used in connection with, any window or door of the Tenant's Premises by Tenant, without the prior written consent of Landlord. Such awnings, projections, curtains, blinds, draperies, shades, screens or other fixtures, if consented to by Landlord, must be of a quality, type, material and color, and attached in the manner approved by Landlord.
|
31.
|
The sashes, sash doors, windows, side glass, glass floors and any lights or skylights that reflect or admit light into the halls or other places of Building shall not be covered or obstructed by Tenant without the prior written approval from Landlord.
|
32.
|
Tenant shall not have access to the roof of the Building, nor make any installations upon or through the roof or walls of the Building, without the prior written consent of Landlord.
|
33.
|
Tenant shall cooperate fully with the life safety plans of the Building as established and administered by Landlord, including participation by Tenant and employees of the Tenant in exit drills, fire inspections, life safety orientations and other programs relating to fire safety that may be promulgated by Landlord.
|
34.
|
The parties recognize Landlord's interest in being free from labor difficulties, strikes, picketing, or handbilling on or near Premises in which Landlord has a possessory or reversionary interest. Should such difficulties, strikes, picketing, or handbilling be engaged in by Tenant's employees or the employees of Tenant's contractors, subcontractors, or agents, or be caused by the actions or presence of Tenant's employees, contractors, subcontractors, agents, or their employees, Tenant will take all reasonable steps to restore harmony. Furthermore, Tenant will be liable for all damages to Landlord occurring as a result of such difficulties, strikes, picketing or handbilling.
|
|
||
BOK Tower Janitorial Cleaning Specifications
|
||
|
Specifications of cleaning tasks and frequencies to be performed.
|
|
|
TASKS
|
FREQUENCY
|
TENANT FLOORS
GARAGE - 52ND FLOOR
|
Empty all trash receptacles and remove collected waste to designated areas. Replace plastic liners as soiled, or a minimum of once per week - liners to be furnished by Contractor. Return trash receptacles to original location.
|
Daily
|
|
||
|
Dust and spot clean all horizontal surfaces of counter tops, cleared area of desk tops, chairs, tables, office equipment, ledges, and heating units, partitions, filing cabinets and glass tops within reach.
|
Daily
|
|
||
|
Vacuum all exposed carpeted floor surfaces in offices, conference rooms, copier rooms, hallways, aisles, kitchens, restrooms and other high traffic areas, including edges and under easily moved furniture.
|
Daily
|
|
||
|
Spot clean doors, frames, kick and push plates, handles, light switches and any other obviously soiled areas for smudges and fingerprints.
|
Daily
|
|
Dust mop resilient tile and wood floors; remove scuffs and debris.
|
Daily
|
|
Mop or machine clean marble lobby floors, taking care to keep grout clean and free of debris.
|
|
|
Dust furniture and work surfaces in conference rooms, lobbies, and common areas.
|
Daily
|
|
Properly position furniture and return to original location.
|
Daily
|
|
Spot clean spills and stains from carpets, tile and wood floors.
|
Daily
|
|
Spot clean all office glass doors and partitions in elevator lobbies.
|
Daily
|
|
Spot clean doors, door frames, wall switches and counter tops.
|
Daily
|
|
Clean sinks, table tops, counter tops, outside of appliances & trash receptacles in kitchen areas.
|
Daily
|
|
Clean spills on walls, trash receptacles, cabinets, etc.
|
Daily
|
|
Clean and maintain all janitor closets.
|
Daily
|
|
Close all doors, lock where possible.
|
Daily
|
|
Call Life Safety to turn off lights when cleaning is completed.
|
Daily
|
|
Damp mop resilient tile floors in kitchen areas with appropriate cleaning solution.
|
Daily
|
|
Dust all desks, work surfaces, chairs, file cabinets, credenzas, doors, ledges and baseboards.
|
Daily
|
|
Vacuum all carpeted floor surfaces completely, including corners and edges
|
Weekly
|
|
TENANT FLOORS GARAGE - 52ND FLOOR
|
Dust all doors, door louvers and other ventilation louvers within reach.
|
Weekly
|
|
(CONT.)
|
Wash out waste receptacles in kitchens, restrooms, conference rooms, and other common use areas.
|
Monthly
|
|
|
Perform floor care on marble and wood floor surfaces per specific manufacturer recommendations.
|
Monthly
|
|
|
Strip, apply finish and buff resilient tile floors.
|
Monthly
|
|
|
Vacuum upholstered furniture.
|
Monthly
|
|
|
Dust or vacuum all air vents and ceiling tiles adjacent to air vents.
|
Monthly
|
|
-----------
|
Dust all picture frames and other wall hangings.
|
Monthly
|
|
|
High dust locations exceeding 72" such as door tops, partitions, high ledges, etc.
|
Monthly
|
|
|
|
|
|
|
Dust blinds in all locations where installed.
|
Monthly
|
|
|
Dust walls, doors and other surfaces not dusted on a monthly basis.
|
Quarterly
|
|
|
Pile lift carpeting.
|
Quarterly
|
|
|
Lift chair pads and vacuum or clean as needed.
|
Quarterly
|
|
|
Clean all light fixtures.
|
Semi-Annually
|
|
|
Apply finish and machine polish all non-carpeted areas.
|
Semi-Annually
|
|
DRINKING FOUNTAINS
ALL FLOORS
|
Fixtures will be cleaned, sanitized and polished to remove stains, rust and scale with an approved product.
|
Daily
|
|
REST-ROOMS
ALL FLOORS
|
Clean, sanitize, wipe dry all porcelain fixtures. Remove rings from around drains.
|
Daily
|
|
|
Clean and polish all chrome fitting and bright work, including shelves, flushometers and metal dispensers and receptacles.
|
Daily
|
|
|
Clean and sanitize both sides of all toilet seats.
|
Daily
|
|
|
Clean and polish all mirrors and glass.
|
Daily
|
|
|
Clean and polish all toilet bowls, urinals and sinks with a disinfecting cleaning solution. Remove all calcium build up rings from around bowls and chrome fittings.
|
Daily
|
|
|
Clean and sanitize door handles, push plates, etc. on entry doors into the restrooms (both sides).
|
Daily
|
|
|
Empty waste receptacles and replace liners.
|
Daily
|
|
|
Empty and sanitize sanitary napkin disposal receptacles; refill paper liners.
|
Daily
|
|
|
Refill all dispensers including seat covers, hand soap, hand sanitizers, toilet tissue and paper towels.
|
Daily
|
|
|
Sweep and damp mop tile floors with disinfecting cleaning solution.
|
Daily
|
|
|
Remove scale from soap pumps, drains, faucets and fixtures as needed.
|
Daily
|
|
|
Vacuum carpet floors in foyer/lobby area inside restrooms.
|
Daily
|
|
Dust and spot clean toilet partitions and tile walls.
|
Daily
|
|
Dust ledges and partitions.
|
Daily
|
|
Clean and maintain all janitor closets. No blocking access into closet area.
|
Daily
|
|
Spot clean walls, ledges, sills, counters and doors.
|
Daily
|
|
Fill drain traps with water and disinfectant
|
Weekly
|
|
Perform high dusting, including walls.
|
Weekly
|
|
Wash/sanitize all walls, doors, partitions, etc.
|
Monthly
|
|
Wash waste containers.
|
Monthly
|
|
Machine scrub and buff floors; strip & wax as necessary.
|
Monthly
|
|
Vacuum ceiling vents and ceiling tiles adjacent to vents.
|
Monthly
|
|
Clean all light fixtures.
|
Semi-Annually
|
EXTERIORS AND
|
Sweep entrances & sidewalks adjacent to building.
|
Daily
|
ENTRANCES
|
Detail all door glass, pulls, push plates, and frames.
|
Daily
|
|
Remove trash and debris; where needed remove gum
or other adhesive material.
|
Daily
|
|
Maintain debris free entries
|
Daily
|
|
Extract dirt and grime from entrance walk off mats.
|
Daily
|
|
Wipe down horizontal entrance ledges.
|
Daily
|
|
Wet mop or flush clean exterior entrances.
|
Weekly
|
|
Clean all metal finishes at entrances.
|
Weekly
|
PLAZA LEVEL
BREAKROOM/VENDING
|
Wipe tables, chairs and counters. Position chairs neatly under tables.
|
Daily
|
|
Vacuum carpets completely.
|
Daily
|
|
Empty trash & replace liners.
|
Daily
|
|
Clean/disinfect counters and sinks, remove rings around drain.
|
Daily
|
|
Dust horizontal services.
|
Daily
|
|
Sweep & Mop floors, keeping grout free of grime and debris.
|
Daily
|
|
Dust vent covers and blinds.
|
Monthly
|
|
Dust walls, doors, frames, switches, baseboards.
|
Monthly
|
ENTRANCE LOBBYS & CORRIDORS
|
Marble and Terrazzo Floor Maintenance Programs will be performed as outlined in Exhibit A, 1.3 of the Agreement.
|
Daily
|
|
Vacuum carpets completely.
|
Daily
|
|
Lobbies and entrance floors will be clean and free of dirt.
|
Daily
|
|
Dust all ledges within reach.
|
Daily
|
|
Dust all wood paneling.
|
Daily
|
|
Dust Visitor Desk.
|
Daily
|
|
Clean glass on plasma screen directory.
|
Daily
|
|
Spot clean walls as needed.
|
Daily
|
|
Clean entrance door glass inside and out.
|
Daily
|
|
Vacuum entrance mats.
|
Daily
|
|
Spot clean carpet.
|
Daily
|
|
Empty trash receptacles.
|
Daily
|
|
Clean coffee table and chairs at Visitor Desk.
|
Daily
|
|
Clean and disinfect public telephone area.
|
Daily
|
|
Clean elevator doors, lobby sides.
|
Daily
|
|
Dust all wood panels.
|
Weekly
|
|
Empty and wash trash receptacles.
|
Weekly
|
|
Extract entrance mats.
|
Weekly
|
|
Clean all metal at entrances and other areas of lobbies.
|
Weekly
|
|
Spot clean walls and doors.
|
Monthly
|
|
Vacuum ceiling tiles adjacent to ceiling vents.
|
Quarterly
|
|
Clean all light fixtures.
|
Quarterly
|
KITCHENS/
BREAKROOMS
(All Floors)
|
Empty trash & replace liners.
|
Daily
|
|
Clean/disinfect counters and sinks, remove rings around drains.
|
Daily
|
|
Sweep & Mop floors, keeping grout free of grime and debris.
|
Daily
|
|
Clean tables, counters, chairs. Position chairs neatly under tables.
|
Daily
|
|
Wipe exterior of cabinets, waste receptacles, and appliances.
|
Daily
|
|
Clean and refill paper towel dispensers.
|
Daily
|
|
Dust horizontal services.
|
Daily
|
|
Dust vent covers and blinds.
|
Monthly
|
|
Dust walls, doors, frames, switches, baseboards.
|
Monthly
|
ELEVATORS
|
Vacuum and edge carpeting daily.
|
Daily
|
TWENTY-SIX (26) PASSENGER
|
Clean and polish all metal surfaces of elevators, interior metal panels, and tracks.
|
Daily
|
AND TWO (2) SERVICE
|
Spot shampoo carpet as necessary.
|
Daily
|
|
Clean light fixtures, ceilings and grilles.
|
Daily
|
|
Maintain tracks debris free.
|
Daily
|
|
Dust all wood panels.
|
Daily
|
|
Damp mop service elevator floors.
|
Daily
|
ESCALATORS - SIX (6)
|
Clean and disinfect handrails.
|
Daily
|
|
Spot Clean glass panels.
|
Daily
|
|
Machine clean escalator treads a minimum of once per week, or more often if needed - (after business hours).
|
Weekly
|
EMERGENCY EXIT
|
Inspect and remove debris daily. Sweep as necessary.
|
Daily
|
STAIRWELLS
|
Sweep west, north and south stairwells completely.
|
Weekly
|
|
Dust all handrails from Ground Level to 52nd floor.
|
Weekly
|
|
Wet mop west, north and south stairwells completely.
|
Monthly
|
|
Spot clean by damp wiping walls, doors and any other surfaces.
|
Monthly
|
|
Clean inside of fire extinguisher cabinets.
|
Quarterly
|
|
Clean light fixtures.
|
Semi-Annually
|
RECYCLING
|
Pick up cardboard boxes from all office areas and take them to designated recycling area.
|
Daily
|
SERVICE AREAS
|
Keep waste paper, cardboard, rubbish, etc., stored in approved receptacles/assigned rooms.
|
Daily
|
|
Clean floors, walls and doors, etc., as necessary.
|
Daily
|
|
Clean all janitor closets at the end of each shift.
|
Daily
|
|
Clean around compactor area and service dock.
|
Weekly
|
|
Perform special assignments as requested.
|
Weekly
|
|
Sweep and mop resilient tile floors.
|
Daily
|
|
Strip, apply finish and buff resilient tile floors on Service Level.
|
Monthly
|
|
Dust all pipes, ducts, ventilating grilles, air conditioning & other accessible equip. outside machinery spaces.
|
Quarterly
|
(1)
|
Chartered by the United States Government
|
(2)
|
Incorporated in Texas
|
(3)
|
Incorporated in Delaware
|
(4)
|
Incorporated in New Mexico
|
(5)
|
Incorporated in Colorado
|
(6)
|
Incorporated in Kansas
|
(7)
|
Incorporated in Colorado
|
(8)
|
Incorporated in Nevada
|
•
|
Registration Statement (Form S-8, No. 33-44121) pertaining to the Reoffer Prospectus of the Bank of Oklahoma Master Thrift Plan and Trust Agreement as amended October 6, 2008.
|
•
|
Registration Statement (Form S-8, No. 333-40280) pertaining to the Reoffer Prospectus of the BOK Financial Corporation Master Thrift Plan for Hourly Employees as amended October 6, 2008.
|
•
|
Registration Statement (Form S-8, No. 33-79836) pertaining to the Reoffer Prospectus of the BOK Financial Corporation Directors' Stock Compensation Plan.
|
•
|
Registration Statement (Form S-8, No. 333-32649) pertaining to the Reoffer Prospectus of the BOK Financial Corporation 1997 Stock Option Plan.
|
•
|
Registration Statement (Form S-8, No. 333-93957) pertaining to the Reoffer Prospectus of the BOK Financial Corporation 2000 Stock Option Plan.
|
•
|
Registration Statement (Form S-8, No. 333-62578) pertaining to the Reoffer Prospectus of the BOK Financial Corporation 2001 Stock Option Plan.
|
•
|
Registration Statement (Form S-8, No. 333-106530) pertaining to the Reoffer Prospectus of the BOK Financial Corporation 2003 Executive Incentive Plan.
|
•
|
Registration Statement (Form S-8, No. 333-106531) pertaining to the Reoffer Prospectus of the BOK Financial Corporation 2003 Stock Option Plan.
|
•
|
Registration Statement (Form S-8, No. 333-135224) pertaining to the Reoffer Prospectus of the BOK Financial Corporation 2003 Stock Option Plan.
|
•
|
Registration Statement (Form S-8, No. 333-158846) pertaining to the Reoffer Prospectus of the BOK Financial Corporation 2009 Omnibus Incentive Plan.
|
•
|
Registration Statement (Form S-3, (No. 333-212120) pertaining to the Reoffer Prospectus of the BOK Financial Corporation 2016 Subordinated Note Issuance.
|
•
|
Registration Statement (Form S-4, (No. 333-226211) pertaining to the Registration Statement for the registration of BOK Financial Corporation's common stock.
|
1.
|
I have reviewed this Annual Report on Form 10-K of BOK Financial;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
a.
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
b.
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c.
|
Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
d.
|
Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and
|
5.
|
The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):
|
a.
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and
|
b.
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
|
/s/ Steven G. Bradshaw
|
Steven G. Bradshaw
|
President
|
Chief Executive Officer
|
BOK Financial Corporation
|
1.
|
I have reviewed this Annual Report on Form 10-K of BOK Financial;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
a.
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
b.
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c.
|
Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
d.
|
Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and
|
5.
|
The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):
|
a.
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and
|
b.
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
|
/s/ Steven E. Nell
|
Steven E. Nell
|
Executive Vice President
|
Chief Financial Officer
|
BOK Financial Corporation
|
1.
|
The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
|
2.
|
The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of BOK Financial as of, and for, the periods presented.
|
/s/ Steven G. Bradshaw
|
Steven G. Bradshaw
|
President
|
Chief Executive Officer
|
BOK Financial Corporation
|
/s/ Steven E. Nell
|
Steven E. Nell
|
Executive Vice President
|
Chief Financial Officer
|
BOK Financial Corporation
|