Company: BOKF
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000875357-25-000013
Chunk: 195

Company: BOK FINANCIAL CORP
Filing Date: 2025-02-19
Form: 10-K
Item: Item 7
Chunk 195
---
ase)Net interest income from external sources$6,655 $5,955 $700 12 %Net interest income  from internal sources58,830 59,308 (478)(1)%Net interest income65,485 65,263 222 — %Net loans charged off993 1,779 (786)(44)%Net interest income after net loans charged off64,492 63,484 1,008 2 %Other operating revenue33,872 32,367 1,505 5 %Personnel expense24,799 24,616 183 1 %Non-personnel expense35,111 33,163 1,948 6 %Total other operating expense59,910 57,779 2,131 4 %Corporate allocations14,874 13,298 1,576 12 %Net income before taxes$23,580 $24,774 $(1,194)(5)%Average assets$8,238,609 $8,172,256 $66,353 1 %Average loans2,147,058 2,057,870 89,188 4 %Average deposits8,197,577 8,136,312 61,265 1 %Average invested capital319,843 320,077 (234)— %

Consumer Banking contributed $23.6 million to net income before taxes in the fourth quarter of 2024, a decrease of $1.2 million, or 5%, compared to the third quarter of 2024. Net interest income was consistent with the prior quarter. Other operating revenue increased $1.5 million as the net cost of changes in the fair value of mortgage servicing rights and related economic hedges was $2.2 million compared to $4.5 million for the third quarter of 2024. Other operating expense increased $2.1 million, or 4%, primarily due to higher mortgage costs.

49

2024 Wealth Management

Wealth Management contributed $156.8 million to consolidated net income before taxes in 2024, a decrease of $62.9 million, or 29%, compared to the prior year. The prior year included a pre-tax gain of $31.0 million, before related professional fees, on the sale of our BOKFI insurance brokerage and consulting business. 

Table 19 – Wealth Management 

(Dollars in thousands)

Year