Company: BOKF
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000875357-25-000013
Chunk: 214

Company: BOK FINANCIAL CORP
Filing Date: 2025-02-19
Form: 10-K
Item: Item 7
Chunk 214
---
 by the end of the fourth quarter of 2025.Tight monetary conditions result in declines in consumer spending while a restrictive credit environment decreases private sector investment. This pushes the United States into a recession with a contraction in economic activity and a sharp increase in the unemployment rate.Geopolitical conflicts remain isolated. There are three rate cuts over the next four quarters, bringing the federal funds target range to 3.50% to 3.75% by the fourth quarter of 2025. Core inflation continues to improve from the previous peaks and reaches 2.2% by the fourth quarter of 2025.Labor force participants continue to re-enter the job market to help fill the elevated level of job openings. This increase in employment helps real household income continue to grow above its pre-pandemic trend. This supports consumer spending and maintains GDP growth consistent with pre-pandemic levels.Macro-economic factors–GDP is forecasted to grow by 1.9% over the next 12 months.–Civilian unemployment rate of 4.2% in the first quarter of 2025 increasing to 4.3% by the fourth quarter of 2025.–WTI oil prices are projected to generally follow the NYMEX forward curve that existed at the end of December 2024 and are expected to average $67.17 per barrel over the next 12 months.–GDP is forecasted to contract 1.8% over the next 12 months.–Civilian unemployment rate of 4.8% in the first quarter of 2025 worsens to 6.6% by the fourth quarter of 2025.–WTI oil prices are projected to average $46.98 per barrel over the next twelve months, with a peak of $50.24 in the first quarter of 2025 and falling 13% over the following three quarters.–GDP is forecasted to grow by 2.2% over the next 12 months.–Civilian unemployment rate of 4.2% in the first quarter of 2025 decreases slightly to 4.0% by the fourth quarter of 2025.–WTI oil prices are projected to average $66.84 per barrel over the next 12 months.

Net Loans Charged Off

In 2024, net loans charged off totaled $13 million, or 0.05% of average loans, down from $18 million, or 0.08% of average loans in 2023. 

In 2024,