Company: BOKF
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000875357-25-000013
Chunk: 99

Company: BOK FINANCIAL CORP
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 99
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4,899,090 1,494 4,897,596 — Available for sale securities:    U.S. Treasury945 945 — — Municipal securities225,568 — 225,568 — Residential agency mortgage-backed securities8,639,389 — 8,639,389 — Residential non-agency mortgage-backed securities781,209 — 781,209 — Commercial agency mortgage-backed securities3,204,016 — 3,204,016 — Other debt securities473 — — 473 Total available for sale securities12,851,600 945 12,850,182 473 Fair value option securities — Residential agency mortgage-backed securities17,876 — 17,876 — Residential mortgage loans held for sale177,561 — 70,564 6,997 Mortgage servicing rights, net2338,145 — — 338,145 Derivative contracts, net of cash margin3242,809 656 242,153 — Liabilities: Derivative contracts, net of cash margin3237,582 3,391 234,191 — 1Residential mortgage loans held for sale measured at fair value on a recurring basis using significant unobservable inputs (Level 3) consist of residential mortgage loans intended for sale to U.S. government agencies that fail to meet conforming standards and are valued at 81.11% of the unpaid principal balance. 2A 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".3See Note 3 for detail of fair value of derivative contracts by contract type. Derivative contracts in asset and liability positions that were valued based on quoted prices in active markets for identical instruments (Level 1) are primarily exchange-traded interest rate derivative contracts held for trading and internal risk management purposes. 

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The fair value of financial assets and liabilities that are measured on a recurring basis is as follows as of December 31, 2023 (in thousands): TotalQuoted Prices in Active Markets for Identical InstrumentsSignificant Other Observable InputsSignificant Unobservable InputsAssets:    Trading securities:U.S. government securities$10,959 $9,017 $1,942 $— Residential agency mortgage-backed