Company: BOKF
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000875357-25-000013
Chunk: 68

Company: BOK FINANCIAL CORP
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 68
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$25,282 $24,520 Variable lease expense14,962 15,327 12,845 Finance lease expense3,497 3,592 2,962 Short-term lease expense447 283 189 At December 31, 2024, the weighted-average remaining lease term was 9.1 years and the weighted average discount rate on operating leases was 3.4%. At December 31, 2024, the weighted-average remaining lease term was 4.4 years and the weighted-average discount rate on finance leases was 2.7%. BOKF, NA is obligated under a long-term lease for its bank premises in downtown Tulsa. The original lease dated November 1, 1976 was renegotiated on July 1, 2019. The new lease will terminate on December 31, 2034. The Company has the option to renew for an additional 10 years. Premises leases may include options to renew at then current market rates and may include escalation provisions based upon changes in consumer price index or similar benchmarks.

The Company may lease owned properties or sublease unoccupied leased facilities. Income on these leases is immaterial. 

(6) Goodwill and Intangible Assets 

The following table presents the original cost and accumulated amortization of intangible assets (in thousands): December 31, 20242023Core deposit premiums$103,200 $103,200 Less: Accumulated amortization74,654 65,275 Net core deposit premiums28,546 37,925 Other identifiable intangible assets51,671 67,151 Less: Accumulated amortization33,429 45,097 Net other identifiable intangible assets18,242 22,054 Total intangible assets, net$46,788 $59,979 

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Expected amortization expense for intangible assets that will continue to be amortized (in thousands):CoreDepositPremiumsOtherIdentifiableIntangible AssetsTotal2025$8,675 $1,840 $10,515 20267,986 1,521 9,507 20276,956 1,336 8,292 20284,929 1,044 5,973 2029— 1,010 1,010 Thereafter— 11,491 11,491 Total $28,546 $18,242 $46,788 The changes in the