Company: BOKF
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0000875357-25-000057
Chunk: 11

Company: BOK FINANCIAL CORP
Filing Date: 2025-10-29
Form: 10-Q
Item: Part I, Item 2
Chunk 11
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 thousands)

                                                                                                                                     Three Months Ended                                Nine Months Ended                                                
                                                                                                                                     Sep. 30, 2025                                     Sep. 30, 2025                        Sep. 30, 2024               
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Gain (loss) on derivatives, net                                                                                                    $                         (508)        5,230      $                        13,905      $                  (1,484)  
  Gain on fair value option securities, net                                                                                          630                                    1,112                                2,067      365                         
  Gain (loss) on economic hedge of mortgage servicing rights, net                                                                    122                                    6,342                               15,972                         (1,119)  
  Change in fair value of mortgage servicing rights                                                                                                          (2,375)      (5,019)                             (14,634)                         (2,023)  
  Gain (loss) on changes in fair value of mortgage servicing rights, net of economic hedges included in other operating revenue                              (2,253)        1,323                                1,338                         (3,142)  
  Net interest income (expense) related to fair value option securities 1                                                            169                                               327                                  (397)                       
  Total economic benefit (cost) of changes in the fair value of mortgage servicing rights, net of economic hedges                    $                       (2,084)        1,552      $                         1,665      $                  (3,539)  

1 Actual interest earned on fair value option securities less internal transfer-priced cost of funds.

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Other Operating Expense

Other operating expense for the third quarter of 2025 totaled $369.8 million, an increase of $15.3 million over the second quarter of 2025. Our efficiency ratio1 was 66.66% for the third quarter of 2025, compared to 65.42% in the prior quarter.

Table 7 - Other Operating Expense

(Dollars in thousands)

                                                                                               %                                                                    %  
                                                                             Increase (Decrease)                                                  Increase (Decrease)  
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Regular compensation                             124,664      121,521                        3        366,508        340,759