Company: BOKF
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000875357-25-000027
Chunk: 1

Company: BOK FINANCIAL CORP
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 2
Chunk 1
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 decrease of $424 million compared to December 31, 2024. A decrease in commercial loans, primarily driven by energy balances, was partially offset by growth in commercial real estate loans and loans to individuals. Average loan balances increased $44 million to $24.1 billion.

• No provision for expected credit losses was necessary for the first quarter of 2025. A worse economic outlook compared to the prior quarter was offset by decreased loan balances and further improvements in portfolio credit quality during the quarter. Net charge-offs were $1.1 million, or 0.02% of average loans on an annualized basis, in the first quarter. The resulting combined allowance for credit losses totaled $331 million, or 1.40% of outstanding loans, at March 31, 2025. The combined allowance for credit losses was $332 million, or 1.38% of outstanding loans, at December 31, 2024.

• Nonperforming assets not guaranteed by U. S. government agencies were $79 million, a $36 million increase compared to December 31, 2024. Potential problem loans decreased by $23 million while other loans especially mentioned decreased by $83 million compared to December 31, 2024.

• Period end deposits were $38.3 billion at March 31, 2025, growing $90 million over December 31, 2024. Average deposits increased $540 million, including a $762 million increase in average interest-bearing deposits, partially offset by a $222 million reduction in demand deposit balances. The loan to deposit ratio was 62% at March 31, 2025, compared to 63% at December 31, 2024.

• Assets under management or administration totaled $114.0 billion at March 31, 2025, decreasing $659 million compared to December 31, 2024.

1 See Explanation and Reconciliation of Non-GAAP Measures in "Non-GAAP Measures" section following.

- 2 -

•The Company's tangible common equity ratio1, a non-GAAP measure, was 9.48% at March 31, 2025, and 9.17% at December 31, 2024. The tangible common equity ratio is primarily based on total shareholders' equity, which includes unrealized gains and losses on AFS securities. Adjusted for all securities portfolio losses, including the tax adjusted losses in the investment portfolio, the tangible common equity ratio1 would be 9.23%