Company: BOKF
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000875357-25-000045
Chunk: 3

Company: BOK FINANCIAL CORP
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 2
Chunk 3
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 shift from wholesale borrowings to interest-bearing deposits, along with improving yields on the AFS securities portfolio. The AFS securities portfolio yield increased 26 basis points while loan yields decreased 69 basis points. Funding costs decreased 71 basis points. Average earning assets increased $866 million to $46.3 billion, driven largely by higher average trading securities and AFS securities balances. Total interest-bearing deposits increased $3.4 billion, partially offset by a decrease of $452 million in demand deposit balances. Other borrowed funds decreased $2.4 billion.

• Fees and commissions revenue totaled $381.4 million for the six months ended June 30, 2025, a $19.1 million decrease compared to the six months ended June 30, 2024. Brokerage and trading revenue decreased $43.0 million, largely due to a shift in fee revenue to interest income combined with lower trading volumes and compressed trading margins. Fiduciary and asset management revenue increased $12.1 million led by growth in trust fees related to higher market valuations and continued growth in client relationships. Transaction card revenue increased $3.9 million led by growth in the volume of transactions processed. Other revenue increased $3.3 million, primarily related to higher fees earned on derivative counterparty margin and deposit service charges increased $3.3 million due to growth in commercial service charges.

• Other gains (losses), net, were a net gain of $7.4 million for the six months ended June 30, 2025, compared to a net gain of $61.6 million for the six months ended June 30, 2024. The six months ended June 30, 2024 included a $53.8 million pre-tax gain on the conversion of our Visa B shares. Gain on merchant banking investments was $5.9 million and gains on investments related to deferred compensation were $2.3 million for the six months ended June 30, 2025. The six months ended June 30, 2024, included net gains on merchant banking investments of $1.3 million and a gain of $5.7 million on investments related to deferred compensation. The six months ended June 30, 2024 also included a loss of $45.1 million on the repositioning of the AFS securities portfolio.

• Total operating expense was $702.0 million for the six months ended June 30, 2025, an increase of $25.0 million compared to the six