Company: BOKF
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000875357-25-000013
Chunk: 46

Company: BOK FINANCIAL CORP
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 46
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 will not be required to sell impaired securities before fair value recovers, which may be maturity. 

103

Fair Value Option Securities Fair value option securities represent securities which the Company has elected to carry at fair value and are separately identified on the Consolidated Balance Sheets with changes in the fair value recognized in earnings as they occur. Certain residential mortgage-backed securities issued by U.S. government agencies and derivative contracts are held as an economic hedge of the mortgage servicing rights. The fair value and net unrealized gain (loss) included in fair value option securities is as follows (in thousands): December 31, 2024December 31, 2023 Fair ValueNet Unrealized Gain (Loss)Fair ValueNet Unrealized Gain (Loss)Residential agency mortgage-backed securities$17,876 $(1,662)$20,671 $(1,406)

(3) Derivatives 

 The following table summarizes the fair values of derivative contracts recorded as "derivative contracts" assets and liabilities in the balance sheet at December 31, 2024 (in thousands):Assets Notional1Gross Fair ValueNetting AdjustmentsNet Fair Value Before Cash CollateralCash CollateralFair Value Net of Cash CollateralCustomer risk management programs:   Interest rate contracts$3,064,418 $82,191 $(5,369)$76,822 $(71,485)$5,337 Energy contracts7,169,926 521,032 (398,457)122,575 (3,816)118,759 Foreign exchange contracts80,510 42,792 (395)42,397 (434)41,963 Equity option contracts1,593 208 — 208 (50)158 Total customer risk management programs10,316,447 646,223 (404,221)242,002 (75,785)166,217 Trading19,577,362 132,581 (56,764)75,817 (242)75,575 Interest rate risk management programs168 1,017 — 1,017 — 1,017 Total derivative contracts$29,893,977 $779,821 $(460,985)$318,836 $(76,027)$242,809 Liabilities Notional¹Gross Fair ValueNetting AdjustmentsNet Fair Value Before Cash CollateralCash CollateralFair Value Net of Cash