Company: BOKF
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000875357-25-000027
Chunk: 36

Company: BOK FINANCIAL CORP
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 2
Chunk 36
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, or changes in risk weighted assets. Future losses or increases in required regulatory capital at the bank could affect its ability to pay dividends to the parent company.

As a result of the acquisition of CoBiz Financial, we obtained $60 million of subordinated debt issued in June 2015 that will mature on June 25, 2030. We also acquired $72 million of junior subordinated debentures with maturity dates from

September 17, 2033 through September 30, 2035. The subordinated debentures are subject to early redemption prior to maturity. On April 23, 2025, BOK Financial redeemed $31 million of its 7.152% junior subordinated debt originally due on July 23, 2034. The redemption price was 100% of the principal amount, plus accrued interest up to the redemption date.

Our equity capital at March 31, 2025, was $5.8 billion, a $223 million increase compared to December 31, 2024. Net income less cash dividends paid increased equity $83 million during the first quarter of 2025. Changes in interest rates resulted in a $141 million improvement in the accumulated other comprehensive loss compared to December 31, 2024. Capital is managed to maximize long-term value to the shareholders. Factors considered in managing capital include projections of future earnings including expected benefits from lower federal income tax rates, asset growth and acquisition strategies, and regulatory and debt covenant requirements. Capital management may include subordinated debt or perpetual preferred stock issuance, share repurchase, and stock and cash dividends.

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On November 1, 2022, the board of directors authorized the Company to purchase up to five million common shares, subject to market conditions, securities law, and other regulatory compliance limitations. As of March 31, 2025, the Company had repurchased 3,467,020 shares under this authorization. The Company repurchased 10,000 shares of common stock at an average price of $98.45 per share in the first quarter of 2025. We view share buybacks opportunistically, but within the context of maintaining our strong capital position.

BOK Financial and BOKF, NA are subject to various capital requirements administered by federal agencies. Failure to meet minimum capital requirements can result in certain mandatory and possibly additional discretionary actions by regulators that could have a material impact on operations. These capital requirements include quantitative measures of assets, liabilities, and off-balance sheet items.