Company: BOKF
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000875357-25-000027
Chunk: 16

Company: BOK FINANCIAL CORP
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 2
Chunk 16
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 $8.2 million, or 13%, from the prior quarter largely due to a reduction in the spread on deposits. Other operating revenue increased$5.2 million, or 15%, partially due to an increase in mortgage banking revenue from higher production volumes. The net benefit of the changes in the fair value of mortgage servicing rights and related economic hedges was $2.2 million compared to a net cost of $2.2 million for the fourth quarter of 2024. Other operating expense decreased $2.7 million, or 4%, primarily due to lower mortgage banking costs.

Average loans increased $59 million, or 3%, over the prior quarter, to $2.2 billion. Average deposits attributed to the Consumer Banking segment were largely unchanged from the previous quarter. See Management's Discussion and Analysis of Financial Condition and Results of Operations - Liquidity and Capital for further discussion of the changes.

- 15 -

Wealth Management

Wealth Management contributed $32.7 million to consolidated net income before taxes in the first quarter of 2025, a decrease of $16.2 million, or 33%, compared to the fourth quarter of 2024.

Table 11 - Wealth Management

(Dollars in thousands)

                                                                                                            %                                     % Increase (Decrease)  
                                                                                                     Increase                                                            
                                                                                                   (Decrease)                                                            
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Net interest income from external sources              13,942           6,696         7,246             108           2,635         11,307                        429  
  Net interest income from internal sources              30,560          31,448                           (3)          25,763          4,797                         19  
  Net interest income                                    44,502          38,144         6,358              17          28,398         16,104                         57  
  Net loans recovered                                                                                    (20)                                                      (47)  
  Net interest income after net loans recovered          44,510          38,154         6,356              17          28,413         16,097                         57  
  Other operating revenue                                96,336         118,310      (21,974)            (19)         118,704       (22,368)                       (19)  
  Personnel expense                                      67,245