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

Company: BOK FINANCIAL CORP
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 2
Chunk 10
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.73                               2.05                                    (62)                 
  Primary mortgage interest rates 1:                                                                                                                                                                                       
  Average                                                                          6.83                                    6.59                               6.73                                    10                   
  Period end                                                                       6.65                                    6.85                               6.79                                    (14)                 
  Mortgage servicing revenue                                                       $                           17,186      $                      16,858      $                           15,442      $                    
  Average outstanding principal balance of mortgage loans serviced for others      $                       23,089,324      $                  22,214,392      $                       21,088,898      $                    
  Average mortgage servicing revenue rates                                         0.30                                    0.30                               0.29                                    1                    

1 Primary rates disclosed in Table 5 above represent rates generally available to borrowers on 30 year conforming mortgage loans.

- 9 -

Net Gains and Losses on Other Assets, Securities and Derivatives

Other gains (losses), net, were a net loss of $725 thousand for the first quarter of 2025, compared to a net gain of $5.0 million in the fourth quarter of 2024. Unrealized gain on merchant banking investments was $678 thousand and loss on investments related to deferred compensation was $1.1 million for the first quarter of 2025, compared to a gain on merchant banking investments of $2.2 million and a $2.5 million gain on investments related to deferred compensation in the prior quarter.

As discussed in the Market Risk section following, the fair value of our MSRs changes in response to changes in primary mortgage loan rates and other assumptions. We attempt to mitigate the earnings volatility caused by changes in the fair value of MSRs by designating certain financial instruments as an economic hedge. Changes in the fair value of these instruments are generally expected to partially offset changes in the fair value of MSRs.

Table 6 - Gain (Loss) on Mortgage Servicing Rights

(In thousands)

                                                                                                                                     Three Months Ended                                                                                
                                                                                                                                     Mar. 31, 2025                        Dec. 31, 2024                    Mar. 31, 2024               
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Gain (loss) on mortgage hedge derivative contracts, net                                                                            $                         9,183      $                  (21,917)