Company: BOKF
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000875357-25-000013
Chunk: 181

Company: BOK FINANCIAL CORP
Filing Date: 2025-02-19
Form: 10-K
Item: Item 7
Chunk 181
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,403 Add: Current year end outstanding commitments36,590 34,783 45,492 Less: Prior year end outstanding commitments34,783 45,492 171,412 Total mortgage production volume$814,070 $655,682 $1,054,483 Production revenue as a percentage of production volume1.07 %(0.81)%(0.17)%Realized margin on funded mortgage loans1.02 %(0.75)%0.63 %Mortgage loan refinances to mortgage loans funded for sale11 %9 %24 %Primary mortgage interest rates:Average6.72 %6.79 %5.34 %Period end6.85 %6.42 %6.41 %Mortgage servicing revenue$65,368 $61,037 $51,203 Average outstanding principal balance of mortgage loans serviced for others21,948,659 20,779,627 17,871,306 Average mortgage servicing fee rates0.30 %0.29 %0.29 %

Primary rates disclosed in Table 9 above represent rates generally available to borrowers on 30 year conforming mortgage loans. 

Other revenue totaled $59.4 million for 2024, a decrease of $2.8 million, or 4%, compared to 2023, led by reduced fees earned on derivative counterparty margin.

Other gains, net and net gains on securities and derivatives

Other gains, net, were $79.7 million for the year ended December 31, 2024, compared to $56.8 million for the year ended December 31, 2023. Included in the 2024 other gains is a $56.9 million pre-tax gain recognized in connection with the receipt and disposition of Visa C shares received as a result of the Exchange Offer announced by Visa, Inc. in the second quarter of 2024. The prior year included a pre-tax $31.0 million gain, before related professional fees, on the sale of our insurance brokerage and consulting business, BOKF Insurance. Net unrealized gains on merchant banking investment was $8.4 million and gain on investments related to deferred compensation was $12.0 million for 2024, compared to $12.5 million and $8.9 million, respectively, in 2023.   

We also recognized a $45.8 million loss on the sale of available for sale securities