Company: BOKF
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000875357-25-000013
Chunk: 75

Company: BOK FINANCIAL CORP
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 75
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 rate of three-month SOFR plus 0.26% tenor spread adjustment plus 1.45% that resets quarterly. The junior subordinated debentures are subject to early redemption prior to maturity. BOK Financial Securities, Inc. may borrow funds from Pershing, LLC, a clearing broker/dealer and a wholly owned subsidiary of Bank of New York Mellon, for the purposes of financing securities purchases or to facilitate funding of investment banking activities on terms to be negotiated at the time of the borrowing. BOK Financial Securities, Inc. had no borrowings outstanding at December 31, 2024 and December 31, 2023.The Company has a liability related to the repurchase of certain delinquent residential mortgage loans previously sold into GNMA mortgage pools. Interest is payable at rates contractually due to investors.

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(10) Federal and State Income Taxes 

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of deferred tax assets and liabilities are as follows (in thousands):December 31,20242023Deferred tax assets:Available for sale securities mark to market$154,277 $183,723 Credit loss reserves78,016 76,361 Lease liability58,399 61,204 Compensation and employee benefits51,545 47,418 Unearned fees13,268 12,682 Other25,918 29,193 Total deferred tax assets381,423 410,581 Deferred tax liabilities:Right-of-use asset49,249 51,943 Mortgage servicing rights35,464 32,723 Goodwill and intangibles20,619 21,678 Depreciation5,878 4,578 Lease financing9,342 12,148 Other29,002 17,915 Total deferred tax liabilities149,554 140,985 Net deferred tax assets$231,869 $269,596 No valuation allowance was necessary on deferred tax assets as of December 31, 2024 and 2023.The significant components of the provision for income taxes attributable to continuing operations for BOK Financial are shown below (in thousands):Year Ended December 31,202420232022Current income tax expense:Federal$116,663 $152,600 $127,144 State18,148 19,298 18,185