Company: BOKF
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000875357-25-000013
Chunk: 103

Company: BOK FINANCIAL CORP
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 103
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 estate and other repossessed assets based on significant unobservable inputs are generally due to estimates of current fair values between appraisal dates. Significant unobservable inputs include listing prices for comparable assets, uncorroborated expert opinions, or management's knowledge of the collateral or industry. Non-recurring fair value measurements of collateral-dependent loans secured by mineral rights are generally determined by our internal staff of engineers on projected cash flows under current market conditions and are based on significant unobservable inputs. Projected cash flows are discounted according to risk characteristics of the underlying oil and gas properties. Assets are evaluated to demonstrate with reasonable certainty that crude oil, natural gas, and natural gas liquids can be recovered from known oil and gas reservoirs under existing economic and operating conditions at current prices with existing conventional equipment, operating methods, and costs. Significant unobservable inputs are developed by asset management and workout professionals and approved by senior Credit Administration executives.

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A summary of quantitative information about Non-recurring Fair Value Measurements based on Significant Unobservable Inputs (Level 3) as of December 31, 2024 follows (dollars in thousands):Quantitative Information about Level 3 Non-recurring Fair Value MeasurementsFair ValueValuation Technique(s)Significant Unobservable InputRange(Weighted Average)Nonaccruing loans$5,100 Appraised value, as adjustedBroker quotes and management's knowledge of industry and collateral.36% - 36% (36%)11    Represents fair value as a percentage of the unpaid principal balance.A summary of quantitative information about Non-recurring Fair Value Measurements based on Significant Unobservable Inputs (Level 3) as of December 31, 2023 follows (dollars in thousands):Quantitative Information about Level 3 Non-recurring Fair Value MeasurementsFair ValueValuation Technique(s)Significant Unobservable InputRange(Weighted Average)Nonaccruing loans$23,225 Discounted cash flowsManagement knowledge of industry and non-real estate collateral.13% - 90% (88%)11    Represents fair value as a percentage of the unpaid principal balance.

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Fair Value of Financial InstrumentsThe following table presents the carrying values and estimated fair values of all financial instruments, including those financial assets and liabilities that are not measured and reported at fair value on a recurring basis or are measured at fair value on a non-recurring basis (dollars in thousands): December 31, 2024CarryingValueEstimated Fair ValueQuoted Prices in Active Markets for Identical Instruments (Level 1)