Company: BOKF
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000875357-25-000045
Chunk: 11

Company: BOK FINANCIAL CORP
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 2
Chunk 11
---
        14,430  
  Gain on changes in fair value of mortgage servicing rights, net of economic hedges included in other operating revenue                                1,323                           2,268                               3,591         1,190  
  Net interest income (expense) related to fair value option securities 1                                                     229                                  (71)                            158                                           
  Total economic benefit (cost) of changes in the fair value of mortgage servicing rights, net of economic hedges             $                         1,552      $                    2,197      $                        3,749           939  

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 second quarter of 2025 totaled $354.5 million, an increase of $7.0 million over the first quarter of 2025. Our efficiency ratio1 was 65.42% for the second quarter of 2025, compared to 68.31% in the prior quarter.

Table 7 - Other Operating Expense

(Dollars in thousands)

                                                                                               %                                                                %  
                                                                             Increase (Decrease)                                              Increase (Decrease)  
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Regular compensation                             121,521      120,323                        1      241,844      225,969        15,875                        7  
  Incentive compensation:                                                                                                                                          
  Cash-based                                        50,745       52,179                      (3)      102,924       92,817        10,107                       11  
  Share-based                                        6,080        6,266                      (3)       12,346        8,294         4,052                       49  
  Deferred compensation                              3,281                                   N/A        2,535        6,621       (4,086)                      N/A  
  Total incentive compensation                      60,106       57,699                        4      117,805      107,732        10,073                        9  
  Employee benefits                                 33,084       36,163                      (9)       69,247       60,042         9,205                       15  
  Total personnel expense                          214,711      214,185                        —      428,896