Company: BOKF
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000875357-25-000013
Chunk: 202

Company: BOK FINANCIAL CORP
Filing Date: 2025-02-19
Form: 10-K
Item: Item 7
Chunk 202
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 stable value wrap which protects against changes in the fair value of the investments. As of December 31, 2024, the fair value of investments held in separate accounts covered by the stable value wrap was approximately $290 million. Since the underlying fair value of the investments held in separate accounts at December 31, 2024 was below the net book value of the investments, $29 million of cash surrender value was supported by the stable value wrap. The remaining $2.1 million of fair value held in separate accounts is not supported by the stable value wrap. The stable value wrap is provided by an investment grade financial institution.

53

Loans

The aggregate loan portfolio before allowance for loan losses totaled $24.1 billion at December 31, 2024, an increase of $210 million compared to December 31, 2023, driven by growth in loans to individuals and commercial loans, partially offset by a decrease in commercial real estate loans.

Table 21 – Loans 

(In thousands)

December 31,20242023Commercial:  Healthcare$3,967,533 $4,143,233 Services3,643,203 3,576,223 Energy3,254,724 3,437,101 General business4,164,676 3,647,212 Total commercial15,030,136 14,803,769 Commercial real estate:  Multifamily2,237,064 1,872,760 Industrial1,127,867 1,475,165 Office755,838 909,442 Retail485,926 592,632 Residential construction and land development109,120 95,052 Other commercial real estate342,637 392,596 Total commercial real estate5,058,452 5,337,647 Loans to individuals:  Residential mortgage2,436,958 2,160,640 Residential mortgage guaranteed by U.S. government agencies136,649 149,807 Personal1,452,529 1,453,105 Total loans to individuals4,026,136 3,763,552 Total$24,114,724 $23,904,968 

Commercial

Commercial loans represent loans for working capital, facilities acquisition or expansion, purchases of equipment and other needs of commercial customers primarily located within our geographical footprint. Commercial loans are underwritten individually and represent ongoing relationships based