Company: BOKF
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000875357-25-000013
Chunk: 185

Company: BOK FINANCIAL CORP
Filing Date: 2025-02-19
Form: 10-K
Item: Item 7
Chunk 185
---
 3,826 3 %116,867 4,635 4 %FDIC and other insurance31,105 30,780 325 1 %17,994 12,786 71 %FDIC special assessment5,521 43,773 (38,252)N/A— 43,773 N/AData processing and communications187,273 181,365 5,908 3 %165,907 15,458 9 %Printing, postage and supplies15,079 15,225 (146)(1)%15,857 (632)(4)%Amortization of intangible assets11,612 13,882 (2,270)(16)%15,692 (1,810)(12)%Mortgage banking costs34,638 30,524 4,114 13 %35,834 (5,310)(15)%Other expense43,155 39,380 3,775 10 %40,134 (754)(2)%Total other operating expense$1,365,755 $1,332,881 $32,874 2 %$1,164,480 $168,401 14 %Average number of employees (full-time equivalent)4,982 4,877 105 2 %4,759 118 2 %

1    See Explanation and Reconciliation of Non-GAAP Measures in "Non-GAAP Measures" section following.42

Personnel expense

Personnel expense was $811.2 million in 2024, an increase of $44.6 million, or 6%. Regular compensation increased $17.9 million, or 4%, due to a combination of annual merit increases commencing in the first quarter, salary adjustments and business expansion. Changes in assumptions of certain performance-based equity awards and an increase in the quantity of share-based awards granted led to a $7.3 million, or 48%, increase in share-based compensation expense. Cash-based incentive compensation plans, which are either intended to provide current rewards to employees who generate long-term business opportunities for the Company based on growth in loans, deposits, customer relationships, and other measurable metrics or intended to compensate employees with commissions on completed transactions, increased $3.9 million, or 2%, compared to 2023, primarily related to higher loan volumes. Deferred compensation expense increased $3.2 million as the deferred compensation