Company: BOKF
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000875357-25-000013
Chunk: 184

Company: BOK FINANCIAL CORP
Filing Date: 2025-02-19
Form: 10-K
Item: Item 7
Chunk 184
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 for 2024 totaled $1.4 billion, a $32.9 million, or 2%, increase compared to the prior year. Personnel expense increased $44.6 million, or 6%. Non-personnel expense decreased $11.8 million, or 2%. The FDIC updated their estimate of the special assessment during 2024, resulting in $5.5 million of additional net expense, compared to $43.8 million for the initial assessment in the prior year. Our efficiency ratio1 was 64.32% for 2024, compared to 62.76% in the prior year.

Table 12 – Other Operating Expense 

(Dollars in thousands)

Year Ended December 31,2024vs.20232024vs.2023Year Ended December 31,2023vs.20222023vs.2022 20242023Increase (Decrease)%Increase (Decrease)2022Increase (Decrease)%Increase (Decrease)Regular compensation$457,922 $439,987 $17,935 4 %$399,107 $40,880 10 %Incentive compensation:Cash-based compensation200,247 196,368 3,879 2 %172,595 23,773 14 %Share-based compensation22,685 15,358 7,327 48 %9,565 5,793 61 %Deferred compensation13,042 9,818 3,224 N/A(6,235)16,053 N/ATotal incentive compensation235,974 221,544 14,430 7 %175,925 45,619 26 %Employee benefits117,343 105,079 12,264 12 %95,886 9,193 10 %Total personnel expense811,239 766,610 44,629 6 %670,918 95,692 14 %Business promotion33,274 31,796 1,478 5 %26,435 5,361 20 %Charitable contributions to BOKF Foundation13,610 2,707 10,903 403 %2,500 207 8 %Professional fees and services53,921 55,337 (1,416)(3)%56,342 (1,005)(2)%Net occupancy and equipment125,328 121,502