Company: BOKF
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000875357-25-000027
Chunk: 15

Company: BOK FINANCIAL CORP
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 2
Chunk 15
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2,038,842                         13  
  Average invested capital                                          2,147,530       2,146,616                              —       2,176,950       (29,420)                        (1)  

Net interest income decreased $21.5 million, or 11%, primarily due to reduced loan spreads. Other operating revenue decreased$2.7 million due to a combination of lower loan syndication fees and reduced gains on merchant banking activities compared to the prior quarter.

Other operating expense decreased $4.6 million, or 6%, compared to the fourth quarter of 2024. Personnel expense decreased $1.5 million, or 3%, primarily due to lower incentive compensation costs during the quarter, and non-personnel expense decreased $3.1 million, or 10%, largely related to technology project costs.

Average outstanding loan balances attributed to Commercial Banking were relatively consistent with the prior quarter at $20.0 billion. See the Loans section of Management's Discussion and Analysis of Financial Condition and Results of Operations following for additional discussion of changes in commercial and commercial real estate loans, which are primarily attributed to the Commercial Banking segment.

Average deposits attributed to Commercial Banking declined by $173 million, or 1%, compared to the fourth quarter of 2024, to $17.8 billion. See Management's Discussion and Analysis of Financial Condition and Results of Operations - Liquidity and Capital for further discussion of changes.

- 14 -

Consumer Banking

Consumer Banking provides retail banking services through four primary distribution channels: traditional branches, the 24-hour ExpressBank call center, internet banking, and mobile banking. Consumer Banking also conducts mortgage banking activities through offices located outside of our Consumer Banking markets.

Consumer Banking contributed $22.1 million to consolidated net income before taxes for the first quarter of 2025, a decrease of $1.5 million, or 6%, compared to the prior quarter.

Table 10 - Consumer Banking

(Dollars in thousands)

                                                                                                            %                                   % Increase (Decrease)  
                                                                                                     Increase                                                          
                                                                                                   (Decrease)                                                          
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Net interest income from external sources                8,740          6,655         2,085              31          7,350         1,390                         19  
  Net interest income from internal sources               48,512         58,830      (10,318)