Company: BOKF
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0000875357-25-000057
Chunk: 18

Company: BOK FINANCIAL CORP
Filing Date: 2025-10-29
Form: 10-Q
Item: Part I, Item 2
Chunk 18
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 taxes                                36,606          40,749        (4,143)            (10)         110,081         107,865          2,216  
  Average assets                                     11,265,485      11,571,187      (305,702)             (3)      11,400,995      10,770,995        630,000  
  Average loans                                       2,353,961       2,275,378         78,583               3       2,272,922       2,183,132         89,790  
  Average deposits                                   10,731,569      10,783,245       (51,676)               —      10,739,218       9,543,465      1,195,753  
  Average invested capital                              337,335         334,564          2,771               1         334,091         325,185          8,906  

Combined net interest income and fee revenue increased $6.6 million, or 4%, over the second quarter of 2025. Investment banking revenue grew $6.2 million driven by the timing and volume of municipal underwriting transactions. Trading fees and commissions increased $1.1 million, largely driven by higher municipal bond trading, partially offset by lower U. S. agency residential mortgage-backed securities trading volumes. Fiduciary and asset management revenue was consistent with the prior quarter. The current quarter benefited from increased trust fees driven by higher market valuations and continued growth in client relationships, while the prior quarter was impacted by seasonal tax preparation fees. Personnel expense increased $6.7 million as a result of increased incentive compensation reflecting stronger underwriting activity. Non-personnel expense grew $3.0 million led by higher professional fees and services for ongoing projects.

Average outstanding loans attributed to the Wealth Management segment increased $79 million, or 3%, over the prior quarter, to $2.4 billion. Average Wealth Management deposits were consistent with the prior quarter. See Management's Discussion and Analysis of Financial Condition and Results of Operations - Liquidity and Capital for further discussion of the changes.

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Financial Condition

Securities

We maintain a securities portfolio to enhance profitability, manage interest rate risk, provide liquidity, and comply with regulatory requirements. Securities are classified as trading, investment (held-to-maturity), or available-for-sale. See Note 2 to the Consolidated