Company: BOKF
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000875357-25-000013
Chunk: 98

Company: BOK FINANCIAL CORP
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 98
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•quoted prices for identical or similar assets or liabilities in inactive markets;•inputs other than quoted prices that are observable, such as interest rate and yield curves, volatilities, prepayment speeds, loss severities, credit risks, and default rates;•other inputs derived from or corroborated by observable market inputs.Significant Unobservable Inputs (Level 3) - fair value is based upon model-based valuation techniques for which at least one significant assumption is not observable in the market. Transfers between levels are recognized as of the end of the reporting period. There were no transfers in or out of quoted prices in active markets for identical instruments to significant other observable inputs or significant unobservable inputs during the years ended December 31, 2024 and 2023, respectively. Transfers between significant other observable inputs and significant unobservable inputs during the years ended December 31, 2024 and 2023 were immaterial. The underlying methods used by the third-party pricing services are considered in determining the primary inputs used to determine fair values. Management has evaluated the methodologies employed by the third-party pricing services by comparing the price provided by the pricing service with other sources, including brokers' quotes, sales or purchases of similar instruments, and discounted cash flows to establish a basis for reliance on the pricing service values. Significant differences between the pricing service provided value and other sources are discussed with the pricing service to understand the basis for their values. Based on all observable inputs, management may adjust prices obtained from third-party pricing services to more appropriately reflect the prices that would be received to sell assets or paid to transfer liabilities in orderly transactions in the current market. No significant adjustments were made to prices provided by third-party pricing services at December 31, 2024 and 2023. 

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Assets and Liabilities Measured at Fair Value on a Recurring BasisThe fair value of financial assets and liabilities that are measured on a recurring basis is as follows as of December 31, 2024 (in thousands): TotalQuoted Prices in Active Markets for Identical InstrumentsSignificant Other Observable InputsSignificant Unobservable InputsAssets:    Trading securities:U.S. government securities$21,275 $1,494 $19,781 $— Residential agency mortgage-backed securities4,792,695 — 4,792,695 — Municipal securities62,230 — 62,230 — Other trading securities22,890 — 22,890 — Total trading securities