Company: BOKF
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000875357-25-000013
Chunk: 69

Company: BOK FINANCIAL CORP
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 69
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 carrying value of goodwill by operating segment are as follows (in thousands): Commercial BankingConsumer BankingWealthManagementFunds Management and OtherTotalBalance, December 31, 2022$910,589 $43,458 $90,702 $— $1,044,749 Balance, December 31, 2023910,589 43,458 90,702 — 1,044,749 Balance, December 31, 2024910,589 43,458 90,702 — 1,044,749 The Company performed its annual impairment assessment of goodwill on October 1, 2024 based on factors including, but not limited to, general economic conditions, financial services industry considerations, regional economic conditions, global health concerns and related medical developments, general BOKF Financial performance, and reporting unit performance. No impairment was indicated for any reporting unit.

(7) Mortgage Banking Activities 

Residential Mortgage Loan ProductionThe Company originates, markets, and services conventional and government-sponsored residential mortgage loans. Generally, conforming fixed rate residential mortgage loans are held for sale in the secondary market and non-conforming and adjustable-rate residential mortgage loans are held for investment. The volume of mortgage loans originated for sale and secondary market prices are the primary drivers of originating and marketing revenue.Residential mortgage loan commitments are generally outstanding for 60 to 90 days which represents the typical period from commitment to originate a residential mortgage loan to when the closed loan is sold to an investor. Residential mortgage loan commitments are subject to both credit and interest rate risk. Credit risk is managed through underwriting policies and procedures, including collateral requirements, which are generally accepted by the secondary loan markets. Exposure to interest rate fluctuations is partially managed through forward sales of residential mortgage-backed securities and forward sales contracts. These latter contracts set the price for loans that will be delivered in the next 60 to 90 days.

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The unpaid principal balance of residential mortgage loans held for sale, notional amounts of derivative contracts related to residential mortgage loan commitments, and forward contract sales with their related fair values included in Mortgage loans held for sale on the Consolidated Balance Sheets were (in thousands): December 31, 2024December 31, 2023 Unpaid Principal Balance/NotionalFair ValueUnpaid Principal Balance/NotionalFair ValueResidential mortgage loans held for sale$77,080 $75,969 $56,922 $56,457