EX-99.1 2 a20250930bokfex99.htm EX-99.1 Document
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BOK Financial Corporation reports quarterly earnings of $141 million, or $2.22 per share, in the third quarter.
Third quarter 2025 financial highlights1
Net Income
Net income was $140.9 million, or $2.22 per diluted share, compared to $140.0 million, or $2.19 per diluted share.
Net Interest Income & Margin
Net interest income totaled $337.6 million, an increase of $9.5 million. Net interest margin expanded 11 basis points to 2.91% compared to 2.80% in the prior quarter.
Fees & Commissions Revenue
Fees and commissions revenue was $204.4 million, an increase of $7.1 million, led by growth in investment banking revenue driven by increased municipal underwriting activity.
Operating Expense
Operating expense increased $15.3 million to $369.8 million, primarily due to higher personnel expense, including increased incentive compensation and regular compensation. Non-personnel expense was up $3.6 million, largely led by higher mortgage banking costs.
Loans
Period end loans were $24.9 billion, growing by $573 million, driven by broad-based growth across the loan portfolio. Average outstanding loan balances were $24.8 billion, a $650 million increase.
Credit Quality
Nonperforming assets declined to $74 million, or 0.30% of outstanding loans and repossessed assets, at September 30, 2025, from $81 million, or 0.33%, at June 30, 2025. Net charge-offs for the third quarter were $3.6 million, or 0.06% of average loans on an annualized basis.
Deposits
Period end deposits grew by $254 million to $38.5 billion and average deposits increased $345 million to $38.5 billion. Average interest-bearing deposits increased $408 million, while average demand deposits decreased by $64 million. The loan to deposit ratio was 65% at September 30, 2025, compared to 64% at June 30, 2025.
Capital
Tangible common equity ratio was 10.06% compared to 9.63% at June 30, 2025. Tier 1 capital ratio was 13.61%, common equity Tier 1 capital ratio was 13.60%, and total capital ratio was 14.48%. The company repurchased 365,547 shares of common stock at an average price paid of $111.00 per share in the third quarter of 2025.
1     Comparisons are to prior quarter unless otherwise noted.

p
$9.5 million
2 bps
p
$573 million
$122.7 billion
NET INTEREST INCOME
NET CHARGE-OFFS (TTM)
LOAN GROWTH
AUMA
CEO Commentary
Stacy Kymes, President and CEO, stated, “I’m proud of our strong performance this quarter, highlighted by solid loan growth, improving net interest margin, and growth in Wealth assets. Loans grew an additional $573 million this quarter and nearly $1.2 billion or 10% annualized over the past two quarters following market volatility driven by first quarter tariff uncertainty. We also achieved meaningful expansion in our net interest margin with a 13 basis point increase during that same timeframe. Our fee-based businesses continued to gain momentum with a quarterly high for Investment Banking revenue and Wealth assets growing to $122.7 billion, an $8.7 billion increase in the last 6 months. We are well-positioned to build on this success in the fourth quarter and remain focused on sustaining our positive trajectory while delivering long-term value for our shareholders."

    

BOK Financial Corporation quarterly earnings releaseExhibit 99.1(a)
Net Interest Income
(Dollars in thousands)Sep. 30, 2025June 30, 2025Change% Change
Interest revenue
Interest-bearing cash and cash equivalents$5,482 $5,626 $(144)(2.6)%
Trading securities72,770 86,488 (13,718)(15.9)%
Investment securities6,560 6,762 (202)(3.0)%
Available-for-sale securities133,452 131,360 2,092 1.6 %
Fair value option securities1,441 1,319 122 9.2 %
Restricted equity securities6,605 7,545 (940)(12.5)%
Residential mortgage loans held for sale1,405 1,346 59 4.4 %
Loans419,303 404,555 14,748 3.6 %
Total interest revenue$647,018 $645,001 $2,017 0.3 %
Interest expense
Interest-bearing deposits:
Transaction$206,400 $204,216 $2,184 1.1 %
Savings1,197 1,155 42 3.6 %
Time34,236 33,072 1,164 3.5 %
Total interest-bearing deposits241,833 238,443 3,390 1.4 %
Funds purchased and repurchase agreements7,250 6,820 430 6.3 %
Other borrowings57,724 67,410 (9,686)(14.4)%
Subordinated debentures— 1,588 (1,588)(100.0)%
Total interest expense$306,807 $314,261 $(7,454)(2.4)%
Tax-equivalent net interest income340,211 330,740 9,471 2.9 %
Less: Tax-equivalent adjustment
2,565 2,574 (9)(0.3)%
Net interest income$337,646 $328,166 $9,480 2.9 %
Net interest margin2.91 %2.80 %0.11 %N/A
Average earning assets$46,429,240 $46,984,071 $(554,831)(1.2)%
Average trading securities5,603,200 6,876,788 (1,273,588)(18.5)%
Average investment securities1,861,565 1,918,969 (57,404)(3.0)%
Average available-for-sale securities13,386,515 13,218,569 167,946 1.3 %
Fair value option securities105,651 88,323 17,328 19.6 %
Restricted equity securities
337,055 390,191 (53,136)(13.6)%
Average loans balance24,826,139 24,176,549 649,590 2.7 %
Average interest-bearing deposits30,586,399 30,178,178 408,221 1.4 %
Funds purchased and repurchase agreements873,800 782,039 91,761 11.7 %
Other borrowings5,048,301 6,019,948 (971,647)(16.1)%
Net interest income was $337.6 million for the third quarter of 2025, an increase of $9.5 million over the prior quarter. Net interest margin expanded to 2.91% from 2.80%. For the third quarter of 2025, our core net interest margin excluding trading activities, a non-GAAP measure, increased 4 basis points to 3.16% compared to 3.12% in the prior quarter.
Average earning assets decreased $555 million. Average trading securities decreased $1.3 billion, average investment securities decreased $57 million, and average restricted equity securities decreased $53 million. Average loan balances increased $650 million, primarily due to growth in portfolio balances for commercial real estate loans and loans to individuals. Average available-for-sale securities grew $168 million. Average interest-bearing deposits increased $408 million, primarily from growth in interest-bearing transaction accounts and time deposits. Average funds purchased and repurchase agreements increased $92 million, while average other borrowings decreased $972 million.

2

BOK Financial Corporation quarterly earnings releaseExhibit 99.1(a)
The yield on average earning assets was 5.53%, a 6 basis point increase over the prior quarter. The yield on the available-for-sale securities portfolio increased 4 basis points to 3.93% and the yield on trading securities was up 20 basis points to 5.25%. The loan portfolio yield decreased 1 basis point to 6.70%. The yield on restricted equity securities expanded 11 basis points to 7.84%.
Funding costs were 3.33%, down 7 basis points. The cost of interest-bearing deposits decreased 3 basis points to 3.14%. The cost of funds purchased and repurchase agreements decreased 21 basis points to 3.29%, while the cost of other borrowings increased 5 basis points to 4.54%. The cost of subordinated debentures was down 638 basis points as all outstanding subordinated debentures were called during the second quarter. The benefit to net interest margin from assets funded by non-interest liabilities was 71 basis points, a decrease of 2 basis points.

Other Operating Revenue
(Dollars in thousands)Sep. 30, 2025June 30, 2025Change% Change
Brokerage and trading revenue$43,239 $38,125 $5,114 13.4 %
Transaction card revenue29,463 29,561 (98)(0.3)%
Fiduciary and asset management revenue63,878 63,964 (86)(0.1)%
Deposit service charges and fees31,896 31,319 577 1.8 %
Mortgage banking revenue19,764 18,993 771 4.1 %
Other revenue16,190 15,368 822 5.3 %
Total fees and commissions204,430 197,330 7,100 3.6 %
Other gains, net8,264 8,140 124 N/A
Gain (loss) on derivatives, net(453)5,535 (5,988)N/A
Gain on fair value option securities, net
630 1,112 (482)N/A
Change in fair value of mortgage servicing rights(2,375)(5,019)2,644 N/A
Gain on available for sale securities, net213 — 213 N/A
Total other operating revenue$210,709 $207,098 $3,611 1.7 %
Fees and commissions revenue totaled $204.4 million for the third quarter of 2025, growing $7.1 million over the prior quarter.
Brokerage and trading revenue increased $5.1 million to $43.2 million. Investment banking revenue grew $5.0 million driven by increased municipal underwriting activity. Trading fees and commissions revenue increased $1.1 million, largely driven by higher municipal bond trading, partially offset by a decrease in U.S. agency residential mortgage-backed securities trading volumes. Customer hedging revenue decreased $1.8 million, primarily related to lower energy derivative volumes.
Fiduciary and asset management revenue was largely unchanged from the prior quarter. The current quarter benefited from increased trust fees driven by higher market valuations and continued growth in client relationships, while the prior quarter was impacted by seasonal tax preparation fees.
3

BOK Financial Corporation quarterly earnings releaseExhibit 99.1(a)
Operating Expenses
(Dollars in thousands)Sep. 30, 2025June 30, 2025Change% Change
Personnel$226,347 $214,711 $11,636 5.4 %
Business promotion9,960 9,139 821 9.0 %
Professional fees and services15,137 15,402 (265)(1.7)%
Net occupancy and equipment33,040 32,657 383 1.2 %
FDIC and other insurance7,302 6,439 863 13.4 %
FDIC special assessment(1,209)(523)(686)N/A
Data processing and communications50,062 49,597 465 0.9 %
Printing, postage, and supplies4,036 4,067 (31)(0.8)%
Amortization of intangible assets2,656 2,656 — — %
Mortgage banking costs10,668 6,711 3,957 59.0%
Other expense11,771 13,647 (1,876)(13.7)%
Total operating expense$369,770 $354,503 $15,267 4.3 %
Total operating expense was $369.8 million for the third quarter of 2025, an increase of $15.3 million compared to the prior quarter.
Personnel expense was $226.3 million, an increase of $11.6 million. Cash-based incentive compensation increased $5.4 million driven by stronger underwriting and loan origination activity. Regular compensation costs grew $3.1 million, largely reflecting transitional personnel expenses associated with aligning our talent base to future growth objectives. Deferred compensation expense was $5.8 million, an increase of $2.5 million over the prior quarter; however, this was largely offset by an increase in the value of related investments included in Other gains (losses), net.
Non-personnel expense was $143.4 million, an increase of $3.6 million. Mortgage banking costs increased $4.0 million. Expenses in the prior quarter were below typical seasonal levels, primarily due to lower mortgage servicing related costs. Other expense decreased by $1.9 million due to lower operational losses.
4

BOK Financial Corporation quarterly earnings releaseExhibit 99.1(a)
Loans
(Dollars in thousands)Sep. 30, 2025June 30, 2025Change% Change
Commercial:
Healthcare$3,878,543$3,808,936$69,6071.8%
Services3,710,6433,658,80751,8361.4%
Energy2,681,5122,734,713(53,201)(1.9)%
General business4,242,2424,181,72660,5161.4%
Total commercial14,512,94014,384,182128,7580.9%
Commercial Real Estate:
Multifamily2,500,3232,473,36526,9581.1%
Industrial1,396,7951,304,21192,5847.1%
Office811,601690,086121,51517.6%
Retail593,835592,0431,7920.3%
Residential construction and land development
122,033105,70116,33215.5%
Other real estate loans328,020356,035(28,015)(7.9)%
Total commercial real estate5,752,6075,521,441231,1664.2%
Loans to individuals:
Residential mortgage
2,676,3662,610,68165,6852.5%
Residential mortgages guaranteed by U.S. government agencies151,642148,4533,1892.1%
Personal1,771,6391,627,454144,1858.9%
Total loans to individuals4,599,6474,386,588213,0594.9%
Total loans$24,865,194$24,292,211$572,9832.4%
Outstanding loans were $24.9 billion at September 30, 2025, an increase of $573 million over June 30, 2025, driven by broad-based growth across the loan portfolio. Unfunded loan commitments grew by $530 million over the second quarter of 2025.
Outstanding commercial loan balances, which includes healthcare, services, energy, and general business loans, increased $129 million over the prior quarter.
Healthcare sector loan balances increased $70 million and totaled $3.9 billion, or 16% of total loans. Our healthcare sector loans primarily consist of $3.1 billion of senior housing and care facilities, including independent living, assisted living, and skilled nursing. Generally, we loan to borrowers with a portfolio of multiple facilities, which serves to help diversify risks specific to a single facility.
General business loans increased $61 million to $4.2 billion, or 17% of total loans. General business loans include $2.7 billion of wholesale/retail loans and $1.5 billion of loans from other commercial industries.
Services sector loan balances were up $52 million over the prior quarter to $3.7 billion, or 15% of total loans. Services loans consist of a large number of loans to a variety of businesses, including Native American tribal and state and local municipal government entities, Native American tribal casino operations, foundations and not-for-profit organizations, educational services, and specialty trade contractors.
Energy loan balances decreased $53 million to $2.7 billion, or 11% of total loans. Consolidation in the energy industry led to elevated payoff activity in recent quarters, but this payoff activity is abating and balances are stabilizing. The majority of this portfolio is first lien, senior secured, reserve-based lending to oil and gas producers, which we believe is the lowest risk form of energy lending. Approximately 71% of committed production loans are secured by properties primarily producing oil. The remaining 29% are secured by properties primarily producing natural gas. Unfunded energy loan commitments were $4.4 billion at September 30, 2025, an $89 million decrease compared to June 30, 2025.
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BOK Financial Corporation quarterly earnings releaseExhibit 99.1(a)
Commercial real estate loan balances increased $231 million to $5.8 billion, representing 23% of total loans. Loans secured by office facilities increased $122 million to $812 million, loans secured by industrial facilities increased $93 million to $1.4 billion, and loans secured by multifamily properties increased $27 million to $2.5 billion. The increases in these portfolios were partially offset by a $28 million decrease in other real estate loans. Unfunded commercial real estate loan commitments were $2.1 billion at September 30, 2025, an $84 million increase compared to June 30, 2025. We take a disciplined approach to managing our concentration of commercial real estate loan commitments as a percentage of capital.
Loans to individuals increased $213 million to $4.6 billion and represent 18% of total loans. Personal loans increased $144 million and residential mortgage loans increased $69 million. Personal loans consist primarily of loans to Wealth Management clients secured by the cash surrender value of insurance policies and marketable securities. Personal loans also include direct loans secured by and for the purchase of automobiles, recreational and marine equipment, as well as unsecured loans.

Period End & Average Deposits
(Dollars in thousands)Sep. 30, 2025June 30, 2025Change% Change
Period end deposits
Demand$7,907,176 $7,998,761 $(91,585)(1.1)%
Interest-bearing transaction25,983,228 25,843,923 139,305 0.5 %
Savings846,736 853,757 (7,021)(0.8)%
Time3,762,878 3,549,668 213,210 6.0 %
Total deposits$38,500,018 $38,246,109 $253,909 0.7 %
Average deposits
Demand$7,894,847 $7,958,538 $(63,691)(0.8)%
Interest-bearing transaction26,076,475 25,859,336 217,139 0.8 %
Savings867,939 853,062 14,877 1.7 %
Time3,641,985 3,465,780 176,205 5.1 %
Total average deposits$38,481,246 $38,136,716 $344,530 0.9 %
Our funding sources, which primarily include deposits and wholesale borrowings, provide adequate liquidity to meet our needs. The loan to deposit ratio was 65% at September 30, 2025, compared to 64% at June 30, 2025, providing significant on-balance sheet liquidity to meet future loan demand and contractual obligations.
Period end deposits totaled $38.5 billion at September 30, 2025, a $254 million increase. Time deposits increased $213 million and interest-bearing transaction accounts increased $139 million. Demand deposits decreased $92 million.
Average deposits were $38.5 billion at September 30, 2025, a $345 million increase. Average interest-bearing transaction accounts increased $217 million and average time deposits increased $176 million, while average demand deposit balances decreased $64 million.
Average Commercial Banking deposits increased $737 million to $18.2 billion, or 47% of total deposits. Our commercial deposit portfolio is highly diversified across industries and customers. The highest concentration by industry within our commercial deposit portfolio is with our energy customers representing 9% of our total deposits. Average Consumer Banking deposits increased $64 million to $8.3 billion, or 22% of total deposits. Average Wealth Management deposits decreased by $52 million to $10.7 billion, or 28% of total deposits.
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BOK Financial Corporation quarterly earnings releaseExhibit 99.1(a)
Capital
Minimum Capital RequirementCapital Conservation BufferMinimum Capital Requirement Including Capital Conservation BufferSep. 30, 2025June 30, 2025
Common equity Tier 14.50 %2.50 %7.00 %13.60 %13.59 %
Tier 1 capital6.00 %2.50 %8.50 %13.61 %13.60 %
Total capital8.00 %2.50 %10.50 %14.48 %14.48 %
Tier 1 leverage4.00 %N/A4.00 %10.19 %9.88 %
Tangible common equity ratio1
10.06 %9.63 %
Common stock repurchased (shares)365,547 663,298 
Average price per share repurchased$111.00 $93.99 
1     See Explanation and Reconciliation of Non-GAAP Measures following.
The company's common equity Tier 1 capital ratio was 13.60% at September 30, 2025. In addition, the company's Tier 1 capital ratio was 13.61%, total capital ratio was 14.48%, and leverage ratio was 10.19% at September 30, 2025. At June 30, 2025, the company's common equity Tier 1 capital ratio was 13.59%, Tier 1 capital ratio was 13.60%, total capital ratio was 14.48%, and leverage ratio was 9.88%.
The company's tangible common equity ratio, a non-GAAP measure, was 10.06% at September 30, 2025, and 9.63% at June 30, 2025. The tangible common equity ratio is primarily based on total shareholders' equity, which includes unrealized gains and losses on available-for-sale securities.
The company repurchased 365,547 shares of common stock at an average price paid of $111.00 per share in the third quarter of 2025. We view buybacks opportunistically, but within the context of maintaining our strong capital position.

Credit Quality
Nonperforming assets totaled $74 million, or 0.30% of outstanding loans and repossessed assets, at September 30, 2025, compared to $81 million, or 0.33%, at June 30, 2025. Excluding loans guaranteed by U.S. government agencies, nonperforming assets totaled $67 million, or 0.27% of outstanding loans and repossessed assets, at September 30, 2025, compared to $74 million, or 0.31%, at June 30, 2025.
Nonaccruing loans decreased $6.9 million compared to June 30, 2025. New nonaccruing loans identified in the third quarter totaled $6.2 million, offset by $5.9 million in payments received, $4.3 million in charge-offs, and $2.4 million in loans that returned to accrual status. Nonaccruing healthcare loans decreased $4.2 million and nonaccruing services loans decreased $3.7 million.
Net charge-offs were $3.6 million, or 0.06% of average loans on an annualized basis, in the third quarter. At September 30, 2025, net charge-offs for the trailing twelve months were $5.8 million, or 0.02% of average loans. Net charge-offs were $561 thousand, or 0.01% of average loans on an annualized basis, in the second quarter of 2025. At June 30, 2025, net charge-offs for the trailing twelve months were $2.1 million, or 0.01% of average loans.
The provision for expected credit losses of $2.0 million in the third quarter of 2025 reflects the impact of loan growth during the quarter, partially offset by a slight improvement in economic forecast scenario assumptions.
At September 30, 2025, the combined allowance for loan losses and accrual for off-balance sheet credit risk from unfunded loan commitments was $328 million, or 1.32% of outstanding loans and 505% of nonaccruing loans, excluding residential mortgage loans guaranteed by U.S. government agencies. At June 30, 2025, the combined allowance for loan losses and accrual for off-balance sheet credit risk from unfunded loan commitments was $330 million, or 1.36% of outstanding loans and 456% of nonaccruing loans.
7

BOK Financial Corporation quarterly earnings releaseExhibit 99.1(a)
Securities & Derivatives
The fair value of the available-for-sale securities portfolio totaled $13.5 billion at September 30, 2025, a $133 million increase over June 30, 2025. At September 30, 2025, the available-for-sale securities portfolio consisted primarily of $9.4 billion of residential mortgage-backed securities fully backed by U.S. government agencies and $3.1 billion of commercial mortgage-backed securities fully backed by U.S. government agencies. At September 30, 2025, the available-for-sale securities portfolio had a net unrealized loss of $204 million, compared to $277 million at June 30, 2025.
We hold an inventory of trading securities in support of sales to a variety of customers. At September 30, 2025, the trading securities portfolio totaled $4.3 billion, compared to $5.6 billion at June 30, 2025.
The company also maintains a portfolio of residential mortgage-backed securities issued by U.S. government agencies and interest rate derivative contracts as an economic hedge of the changes in the fair value of our mortgage servicing rights. This portfolio of fair value option securities decreased $3.0 million to $105 million at September 30, 2025.
Derivative contracts are carried at fair value. At September 30, 2025, the net fair values of derivative contracts, before consideration of cash margin, reported as assets under our customer derivative programs totaled $317 million, compared to $326 million at June 30, 2025. The aggregate net fair value of derivative contracts, before consideration of cash margin, held under these programs reported as liabilities totaled $294 million at September 30, 2025, and $297 million at June 30, 2025.
The net cost of the changes in the fair value of mortgage servicing rights and related economic hedges was $2.1 million during the third quarter of 2025, including a $2.4 million decrease in the fair value of mortgage servicing rights, a $122 thousand increase in the fair value of securities and derivative contracts held as an economic hedge, and $169 thousand of related net interest income.

Third Quarter 2025 Segment Highlights
Commercial BankingConsumer BankingWealth Management
(In thousands)Sep. 30, 2025June 30, 2025Sep. 30, 2025June 30, 2025Sep. 30, 2025June 30, 2025
Net interest income and fee revenue
$236,734 $234,226$96,522 $94,903$155,142 $148,494
Net loans charged-off (recovered)2,609 291,413 1,018(3)(7)
Personnel expense51,638 49,77425,681 25,52773,032 66,309
Non-personnel expense29,601 29,93138,361 29,94929,939 26,972
Net income before taxes139,817 141,36414,490 24,74636,606 40,749
Average loans$20,280,147 $19,894,391$2,432,968 $2,304,939$2,353,961 $2,275,378
Average deposits18,161,258 17,424,7078,330,481 8,266,82410,731,569 10,783,245
Assets under management or administration$122,673,531 $117,870,970
Commercial Banking contributed $139.8 million to net income before taxes in the third quarter of 2025, a decrease of $1.5 million compared to the second quarter of 2025. Combined net interest income and fee revenue increased $2.5 million over the prior quarter. Net interest income grew $3.4 million led by higher loan balances during the quarter, which was partially offset by a decrease in loan syndication fees. Net loans charged off increased $2.6 million in the third quarter of 2025. Other operating expenses increased $1.5 million, primarily due to higher incentive compensation costs driven by increased loan origination activity during the quarter. Other gains (losses), net, declined $1.8 million related to lower gains on merchant banking activities. Corporate expense allocations decreased $1.9 million. Average loans increased $386 million, or 2% to $20.3 billion. Average deposits grew $737 million, or 4%, to $18.2 billion.
8

BOK Financial Corporation quarterly earnings releaseExhibit 99.1(a)
Consumer Banking contributed $14.5 million to net income before taxes in the third quarter of 2025, compared to $24.7 million in the prior quarter. Combined net interest income and fee revenue totaled $96.5 million, up $1.6 million, primarily due to increased mortgage banking revenue driven by growth in mortgage production volumes. The net cost of the change in the fair value of mortgage servicing rights and the related economic hedges was $2.1 million, compared to a benefit of $1.6 million in the prior quarter. Other operating expenses increased $8.6 million. Mortgage banking costs increased $4.0 million as the prior quarter's expenses were below typical seasonal levels, primarily due to lower mortgage servicing related costs. Other expense increased $2.2 million related to operational losses and business promotion expense increased $1.9 million due to increased advertising costs. Average loans increased $128 million, or 6%, to $2.4 billion. Average deposits were consistent with prior quarter at $8.3 billion.
Wealth Management contributed $36.6 million to net income before taxes in the third quarter of 2025, a decrease of $4.1 million compared to the second quarter of 2025. Combined net interest income and fee revenue increased $6.6 million, primarily due to growth in investment banking revenue driven by the timing and volume of municipal underwriting transactions. Other operating expenses increased $9.7 million. Incentive compensation expense increased $5.7 million, reflecting stronger underwriting activity. Professional fees and services expense grew $1.1 million, largely related to ongoing projects. Average loans increased $79 million, or 3%, to $2.4 billion. Average deposits were largely unchanged at $10.7 billion. Assets under management or administration were $122.7 billion, an increase of $4.8 billion, or 4%.

Conference Call & Webcast
The company will hold a conference call at noon Central time on Tuesday, October 21, 2025, to discuss the financial results with investors. The live audio webcast and presentation slides will be available on the company’s website at bokf.com. The conference call can also be accessed by dialing 1-800-715-9871 toll free, or 1-646-307-1963, conference ID: 6617678. A webcast replay will also be available shortly after the conclusion of the live call at bokf.com or by dialing 1-800-770-2030 and referencing replay PIN: 6617678.

About BOK Financial Corporation
BOK Financial Corporation is a $50 billion regional financial services company headquartered in Tulsa, Oklahoma with $123 billion in assets under management or administration. The company's stock is publicly traded on NASDAQ under the Global Select market listings (BOKF). BOK Financial Corporation's holdings include BOKF, NA; BOK Financial Securities, Inc.; and BOK Financial Private Wealth, Inc. BOKF, NA's holdings include TransFund and Cavanal Hill Investment Management, Inc. BOKF, NA operates banking divisions across eight states as: Bank of Albuquerque; Bank of Oklahoma; Bank of Texas; and BOK Financial in Arizona, Arkansas, Colorado, Kansas and Missouri; as well as having limited purpose offices in Nebraska, Wisconsin, Connecticut, and Tennessee. Through its subsidiaries, BOK Financial Corporation provides commercial and consumer banking, brokerage trading, investment and trust services, mortgage origination and servicing, and an electronic funds transfer network. For more information, visit www.bokf.com.
The company will continue to evaluate critical assumptions and estimates, such as the appropriateness of the allowance for credit losses and asset impairment as of September 30, 2025 through the date its financial statements are filed with the Securities and Exchange Commission and will adjust amounts reported if necessary.
This news release contains forward-looking statements that are based on management's beliefs, assumptions, current expectations, estimates and projections about BOK Financial Corporation, the financial services industry and the economy generally. Words such as “anticipates,” “believes,” “estimates,” “expects,” “forecasts,” “plans,” “outlook,” “projects,” “will,” “intends,” variations of such words and similar expressions are intended to identify such forward-looking statements. Management judgments relating to and discussion of the provision and allowance for credit losses, allowance for uncertain tax positions, accruals for loss contingencies and valuation of mortgage servicing rights involve judgments as to expected events and are inherently forward-looking statements. Assessments that acquisitions and growth endeavors will be profitable are necessary statements of belief as to the outcome of future events based in part on information provided by others which BOK Financial has not independently verified. These various forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties, and assumptions which are difficult to predict with regard to timing, extent, likelihood and degree of occurrence. Therefore, actual results and outcomes may materially differ from what is expected, implied or forecasted in such forward-looking statements. Internal and external factors that might cause such a difference include, but are not limited to changes in government, changes in governmental economic policy, including tariffs, changes in commodity prices, interest rates and interest rate relationships, inflation, demand for products and services, the degree of competition by traditional and nontraditional competitors, changes in banking regulations, tax laws, prices, levies and assessments, the impact of technological advances, and trends in customer behavior as well as their ability to repay loans. BOK Financial Corporation and its affiliates undertake no obligation to update, amend or clarify forward-looking statements, whether as a result of new information, future events, or otherwise.
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BOK Financial Corporation Quarterly Earnings Release
Exhibit 99.1(b)
BALANCE SHEETS – UNAUDITED
BOK FINANCIAL CORPORATION
(In thousands)Sep. 30, 2025June 30, 2025
Assets
Cash and due from banks$880,721 $1,074,130 
Interest-bearing cash and cash equivalents545,322 284,933 
Trading securities4,255,732 5,559,417 
Investment securities, net of allowance1,837,647 1,897,178 
Available-for-sale securities13,481,030 13,347,821 
Fair value option securities104,688 107,702 
Restricted equity securities248,605 294,359 
Residential mortgage loans held for sale100,060 101,437 
Loans:
Commercial14,512,940 14,384,182 
Commercial real estate5,752,607 5,521,441 
Loans to individuals4,599,647 4,386,588 
Total loans24,865,194 24,292,211 
Allowance for loan losses(277,692)(277,049)
Loans, net of allowance24,587,502 24,015,162 
Premises and equipment, net636,256 637,211 
Receivables288,140 299,327 
Goodwill1,044,749 1,044,749 
Intangible assets, net37,376 40,000 
Mortgage servicing rights326,399 334,644 
Real estate and other repossessed assets, net1,751 1,729 
Derivative contracts, net299,215 362,908 
Cash surrender value of bank-owned life insurance419,103 416,566 
Receivable on unsettled securities sales64,515 76,989 
Other assets1,034,576 1,101,815 
Total assets$50,193,387 $50,998,077 
Liabilities
Deposits:
Demand$7,907,176 $7,998,761 
Interest-bearing transaction25,983,228 25,843,923 
Savings846,736 853,757 
Time3,762,878 3,549,668 
Total deposits38,500,018 38,246,109 
Funds purchased and repurchase agreements970,950 682,051 
Other borrowings3,239,507 4,140,130 
Accrued interest, taxes, and expense312,283 302,515 
Due on unsettled securities purchases321,729 964,580 
Derivative contracts, net306,796 285,417 
Other liabilities517,179 483,919 
Total liabilities44,168,462 45,104,721 
Shareholders' equity
Capital, surplus and retained earnings6,249,199 6,179,898 
Accumulated other comprehensive loss(226,664)(289,010)
Total shareholders’ equity6,022,535 5,890,888 
Non-controlling interests2,390 2,468 
Total equity6,024,925 5,893,356 
Total liabilities and equity$50,193,387 $50,998,077 
10

BOK Financial Corporation Quarterly Earnings Release
Exhibit 99.1(b)
AVERAGE BALANCE SHEETS – UNAUDITED
BOK FINANCIAL CORPORATION
Three Months Ended
(In thousands)Sep. 30, 2025June 30, 2025Mar. 31, 2025Dec. 31, 2024Sep. 30, 2024
Assets
Interest-bearing cash and cash equivalents$495,091 $506,330 $564,014 $546,955 $531,811 
Trading securities5,603,200 6,876,788 5,881,997 5,636,949 5,802,448 
Investment securities, net of allowance1,861,565 1,918,969 1,980,005 2,037,072 2,094,408 
Available-for-sale securities13,386,515 13,218,569 12,962,830 12,969,630 12,939,422 
Fair value option securities105,651 88,323 17,603 18,384 19,095 
Restricted equity securities337,055 390,191 348,266 338,236 410,800 
Residential mortgage loans held for sale91,422 86,543 63,365 87,353 95,742 
Loans:
Commercial14,490,145 14,315,695 14,633,090 14,973,929 15,076,308 
Commercial real estate5,743,572 5,495,152 5,245,867 5,039,535 5,257,842 
Loans to individuals4,592,422 4,365,702 4,189,270 4,011,080 3,970,734 
Total loans24,826,139 24,176,549 24,068,227 24,024,544 24,304,884 
Allowance for loan losses(277,398)(278,191)(279,983)(283,685)(287,227)
Loans, net of allowance24,548,741 23,898,358 23,788,244 23,740,859 24,017,657 
Total earning assets46,429,240 46,984,071 45,606,324 45,375,438 45,911,383 
Cash and due from banks960,602 915,487 995,598 910,894 884,053 
Derivative contracts, net317,732 374,125 328,478 360,352 294,276 
Cash surrender value of bank-owned life insurance417,261 419,602 417,797 414,760 412,945 
Receivable on unsettled securities sales162,035 228,563 184,960 284,793 216,158 
Other assets3,405,206 3,365,104 3,453,746 3,268,949 3,438,220 
Total assets$51,692,076 $52,286,952 $50,986,903 $50,615,186 $51,157,035 
Liabilities
Deposits:
Demand$7,894,847 $7,958,538 $8,156,069 $8,378,558 $8,273,656 
Interest-bearing transaction26,076,475 25,859,336 25,859,733 24,992,464 23,986,697 
Savings867,939 853,062 844,875 818,210 820,980 
Time3,641,985 3,465,780 3,498,401 3,629,882 3,678,964 
Total deposits38,481,246 38,136,716 38,359,078 37,819,114 36,760,297 
Funds purchased and repurchase agreements873,800 782,039 935,716 1,076,400 1,016,688 
Other borrowings5,048,301 6,019,948 4,626,402 4,489,870 6,366,046 
Subordinated debentures— 99,846 131,188 131,185 131,155 
Derivative contracts, net332,893 359,616 237,035 417,026 466,271 
Due on unsettled securities purchases329,361 503,490 425,050 472,334 348,585 
Other liabilities663,323 591,496 611,762 630,957 618,187 
Total liabilities45,728,924 46,493,151 45,326,231 45,036,886 45,707,229 
Total equity5,963,152 5,793,801 5,660,672 5,578,300 5,449,806 
Total liabilities and equity
$51,692,076 $52,286,952 $50,986,903 $50,615,186 $51,157,035 
11

BOK Financial Corporation Quarterly Earnings Release
Exhibit 99.1(b)
STATEMENTS OF EARNINGS – UNAUDITED
BOK FINANCIAL CORPORATION
Three Months EndedNine Months Ended
September 30,September 30,
(In thousands, except share and per share data)2025202420252024
Interest revenue$644,453 $680,310 $1,905,450 $1,997,339 
Interest expense306,807 372,191 923,387 1,099,627 
Net interest income
337,646 308,119 982,063 897,712 
Provision for credit losses2,000 2,000 2,000 18,000 
Net interest income after provision for credit losses
335,646 306,119 980,063 879,712 
Other operating revenue:
Brokerage and trading revenue43,239 50,391 112,432 162,587 
Transaction card revenue29,463 28,495 86,116 81,234 
Fiduciary and asset management revenue63,878 57,384 188,814 170,265 
Deposit service charges and fees31,896 30,450 93,490 88,707 
Mortgage banking revenue19,764 18,372 58,572 55,967 
Other revenue16,190 17,402 46,452 44,325 
Total fees and commissions204,430 202,494 585,876 603,085 
Other gains, net8,264 13,087 15,679 74,731 
Gain (loss) on derivatives, net(453)8,991 14,647 (733)
Gain on fair value option securities, net630 764 2,067 365 
Change in fair value of mortgage servicing rights(2,375)(16,453)(14,634)(2,023)
Gain (loss) on available-for-sale securities, net
213 (691)213 (45,828)
Total other operating revenue210,709 208,192 603,848 629,597 
Other operating expense:
Personnel226,347 206,821 655,243 600,564 
Business promotion9,960 7,681 27,917 23,909 
Charitable contributions to BOKF Foundation— — — 13,610 
Professional fees and services15,137 13,405 43,808 38,746 
Net occupancy and equipment33,040 32,077 98,689 92,615 
FDIC and other insurance7,302 8,186 20,328 24,243 
FDIC special assessment(1,209)(1,437)(1,209)6,207 
Data processing and communications50,062 47,554 147,237 139,249 
Printing, postage, and supplies4,036 3,594 11,742 11,380 
Amortization of intangible assets2,656 2,856 7,964 8,757 
Mortgage banking costs10,668 9,059 25,068 23,946 
Other expense11,771 11,229 35,015 34,873 
Total other operating expense369,770 341,025 1,071,802 1,018,099 
Net income before taxes176,585 173,286 512,109 491,210 
Federal and state income taxes35,714 33,313 111,397 103,811 
Net income140,871 139,973 400,712 387,399 
Net income (loss) attributable to non-controlling interests(23)(26)23 (16)
Net income attributable to BOK Financial Corporation shareholders$140,894 $139,999 $400,689 $387,415 
Average shares outstanding:
Basic62,840,270 63,489,581 63,196,043 63,830,188 
Diluted62,840,270 63,489,581 63,196,043 63,830,188 
Net income per share:
Basic$2.22 $2.18 $6.27 $6.01 
Diluted$2.22 $2.18 $6.27 $6.01 
12

BOK Financial Corporation Quarterly Earnings Release
Exhibit 99.1(b)
QUARTERLY EARNINGS TREND – UNAUDITED
BOK FINANCIAL CORPORATION
Three Months Ended
(In thousands, except ratio, share, and per share data)Sep. 30, 2025June 30, 2025Mar. 31, 2025Dec. 31, 2024Sep. 30, 2024
Interest revenue$644,453 $642,427 $618,570 $639,125 $680,310 
Interest expense306,807 314,261 302,319 326,079 372,191 
Net interest income
337,646 328,166 316,251 313,046 308,119 
Provision for credit losses2,000 — — — 2,000 
Net interest income after provision for credit losses
335,646 328,166 316,251 313,046 306,119 
Other operating revenue:
Brokerage and trading revenue43,239 38,125 31,068 55,505 50,391 
Transaction card revenue29,463 29,561 27,092 27,631 28,495 
Fiduciary and asset management revenue63,878 63,964 60,972 60,595 57,384 
Deposit service charges and fees31,896 31,319 30,275 30,038 30,450 
Mortgage banking revenue19,764 18,993 19,815 18,140 18,372 
Other revenue16,190 15,368 14,894 15,029 17,402 
Total fees and commissions204,430 197,330 184,116 206,938 202,494 
Other gains (losses), net8,264 8,140 (725)4,995 13,087 
Gain (loss) on derivatives, net(453)5,535 9,565 (21,728)8,991 
Gain (loss) on fair value option securities, net630 1,112 325 (621)764 
Change in fair value of mortgage servicing rights(2,375)(5,019)(7,240)20,460 (16,453)
Gain (loss) on available-for-sale securities, net213 — — — (691)
Total other operating revenue210,709 207,098 186,041 210,044 208,192 
Other operating expense:
Personnel226,347 214,711 214,185 210,675 206,821 
Business promotion9,960 9,139 8,818 9,365 7,681 
Professional fees and services15,137 15,402 13,269 15,175 13,405 
Net occupancy and equipment33,040 32,657 32,992 32,713 32,077 
FDIC and other insurance7,302 6,439 6,587 6,862 8,186 
FDIC special assessment(1,209)(523)523 (686)(1,437)
Data processing and communications50,062 49,597 47,578 48,024 47,554 
Printing, postage, and supplies4,036 4,067 3,639 3,699 3,594 
Amortization of intangible assets2,656 2,656 2,652 2,855 2,856 
Mortgage banking costs10,668 6,711 7,689 10,692 9,059 
Other expense11,771 13,647 9,597 8,282 11,229 
Total other operating expense369,770 354,503 347,529 347,656 341,025 
Net income before taxes176,585 180,761 154,763 175,434 173,286 
Federal and state income taxes35,714 40,691 34,992 39,280 33,313 
Net income140,871 140,070 119,771 136,154 139,973 
Net income (loss) attributable to non-controlling interests(23)52 (6)— (26)
Net income attributable to BOK Financial Corporation shareholders$140,894 $140,018 $119,777 $136,154 $139,999 
Average shares outstanding:
Basic62,840,270 63,208,027 63,547,510 63,491,458 63,489,581 
Diluted62,840,270 63,208,027 63,547,510 63,491,458 63,489,581 
Net income per share:
Basic$2.22 $2.19 $1.86 $2.12 $2.18 
Diluted$2.22 $2.19 $1.86 $2.12 $2.18 
13

BOK Financial Corporation Quarterly Earnings Release
Exhibit 99.1(b)
FINANCIAL HIGHLIGHTS – UNAUDITED
BOK FINANCIAL CORPORATION
Three Months Ended
(In thousands, except ratio, share, and per share data)Sep. 30, 2025June 30, 2025Mar. 31, 2025Dec. 31, 2024Sep. 30, 2024
Capital:
Period end shareholders' equity$6,022,535 $5,890,888 $5,771,813 $5,548,353 $5,612,443 
Risk-weighted assets$38,136,467 $37,630,803 $38,062,913 $38,315,722 $38,365,133 
Risk-based capital ratios:
Common equity Tier 113.60 %13.59 %13.31 %13.03 %12.73 %
Tier 113.61 %13.60 %13.31 %13.04 %12.74 %
Total capital14.48 %14.48 %14.54 %14.21 %13.91 %
Leverage ratio10.19 %9.88 %10.02 %9.97 %9.67 %
Tangible common equity ratio1
10.06 %9.63 %9.48 %9.17 %9.22 %
Common stock:
Book value per share$95.22 $92.61 $89.82 $86.53 $87.53 
Tangible book value per share$78.11 $75.56 $72.87 $69.51 $70.44 
Market value per share:
High$114.17 $104.15 $116.29 $121.58 $108.01 
Low$96.89 $85.08 $97.84 $99.93 $86.43 
Cash dividends paid$36,122 $36,256 $36,468 $36,421 $35,147 
Dividend payout ratio25.64 %25.89 %30.45 %26.75 %25.11 %
Shares outstanding, net63,247,676 63,611,097 64,261,824 64,121,299 64,118,417 
Stock buy-back program:
Shares repurchased365,547 663,298 10,000 — — 
Amount$40,575 $62,341 $985 $— $— 
Average price paid per share2
$111.00 $93.99 $98.45 $— $— 
Performance ratios (quarter annualized):
Return on average assets1.08 %1.07 %0.95 %1.07 %1.09 %
Return on average equity9.38 %9.70 %8.59 %9.71 %10.22 %
Return on average tangible common equity1
11.46 %11.94 %10.63 %12.09 %12.80 %
Net interest margin2.91 %2.80 %2.78 %2.75 %2.68 %
Efficiency ratio1
66.66 %65.42 %68.31 %65.61 %65.11 %
Other data:
Tax-equivalent interest$2,565 $2,574 $2,542 $2,466 $2,385 
Net unrealized loss on available-for-sale securities$(203,682)$(276,678)$(363,507)$(537,335)$(307,360)
14

BOK Financial Corporation Quarterly Earnings Release
Exhibit 99.1(b)
Three Months Ended
(In thousands, except ratio, share, and per share data)Sep. 30, 2025June 30, 2025Mar. 31, 2025Dec. 31, 2024Sep. 30, 2024
Mortgage banking:
Mortgage production revenue$2,370 $1,707 $2,629 $1,282 $1,563 
Mortgage loans funded for sale$229,812 $219,154 $159,816 $208,300 $224,749 
Add: Current period end outstanding commitments
67,842 64,508 60,429 36,590 70,102 
Less: Prior period end outstanding commitments64,508 60,429 36,590 70,102 62,960 
Total mortgage production volume$233,146 $223,233 $183,655 $174,788 $231,891 
Mortgage loan refinances to mortgage loans funded for sale13 %16 %12 %19 %11 %
Realized margin on funded mortgage loans0.96 %0.66 %0.91 %0.87 %0.93 %
Production revenue as a percentage of production volume1.02 %0.76 %1.43 %0.73 %0.67 %
Mortgage servicing revenue$17,394 $17,286 $17,186 $16,858 $16,809 
Average outstanding principal balance of mortgage loans serviced for others$22,269,300 $22,687,658 $23,089,324 $22,214,392 $22,203,787 
Average mortgage servicing revenue rates0.31 %0.31 %0.30 %0.30 %0.30 %
Gain (loss) on mortgage servicing rights, net of economic hedge:
Gain (loss) on derivatives, net$(508)$5,230 $9,183 $(21,917)$11,357 
Gain (loss) on fair value option securities, net630 1,112 325 (621)764 
Gain (loss) on economic hedge of mortgage servicing rights122 6,342 9,508 (22,538)12,121 
Change in fair value of mortgage servicing rights(2,375)(5,019)(7,240)20,460 (16,453)
Gain (loss) on changes in fair value of mortgage servicing rights, net of economic hedges, included in other operating revenue(2,253)1,323 2,268 (2,078)(4,332)
Net interest income (expense) on fair value option securities3
169 229 (71)(79)(146)
Total economic benefit (cost) of changes in the fair value of mortgage servicing rights, net of economic hedges$(2,084)$1,552 $2,197 $(2,157)$(4,478)
1     See Reconciliation of Non-GAAP Measures following.
2     Excludes 1% excise tax on corporate stock repurchases.
3     Actual interest earned on fair value option securities less internal transfer-priced cost of funds.

15

BOK Financial Corporation Quarterly Earnings Release
Exhibit 99.1(b)
EXPLANATION AND RECONCILIATION OF NON-GAAP MEASURES – UNAUDITED
BOK FINANCIAL CORPORATION
Three Months Ended
(In thousands, except ratio and share data)Sep. 30, 2025June 30, 2025Mar. 31, 2025Dec. 31, 2024Sep. 30, 2024
Reconciliation of tangible common equity ratio:
Total shareholders' equity$6,022,535 $5,890,888 $5,771,813 $5,548,353 $5,612,443 
Less: Goodwill and intangible assets, net1,082,125 1,084,749 1,088,813 1,091,537 1,095,954 
Tangible common equity$4,940,410 $4,806,139 $4,683,000 $4,456,816 $4,516,489 
Total assets$50,193,387 $50,998,077 $50,472,189 $49,685,892 $50,081,985 
Less: Goodwill and intangible assets, net1,082,125 1,084,749 1,088,813 1,091,537 1,095,954 
Tangible assets$49,111,262 $49,913,328 $49,383,376 $48,594,355 $48,986,031 
Tangible common equity ratio10.06 %9.63 %9.48 %9.17 %9.22 %
Reconciliation of return on average tangible common equity:
Total average shareholders' equity$5,960,711 $5,791,275 $5,658,082 $5,575,583 $5,446,998 
Less: Average goodwill and intangible assets, net1,083,390 1,086,991 1,090,116 1,094,466 1,097,317 
Average tangible common equity$4,877,321 $4,704,284 $4,567,966 $4,481,117 $4,349,681 
Net income attributable to BOK Financial Corporation shareholders
$140,894 $140,018 $119,777 $136,154 $139,999 
Return on average tangible common equity11.46 %11.94 %10.63 %12.09 %12.80 %
Calculation of efficiency ratio:
Total other operating expense$369,770 $354,503 $347,529 $347,656 $341,025 
Less: Amortization of intangible assets2,656 2,656 2,652 2,855 2,856 
Numerator for efficiency ratio
$367,114 $351,847 $344,877 $344,801 $338,169 
Net interest income
$337,646 $328,166 $316,251 $313,046 $308,119 
Add: Tax-equivalent adjustment
2,565 2,574 2,542 2,466 2,385 
Tax-equivalent net interest income
340,211 330,740 318,793 315,512 310,504 
Add: Total other operating revenue210,709 207,098 186,041 210,044 208,192 
Less: Gain (loss) on available-for-sale securities, net213 — — — (691)
Denominator for efficiency ratio
$550,707 $537,838 $504,834 $525,556 $519,387 
Efficiency ratio66.66 %65.42 %68.31 %65.61 %65.11 %
16

BOK Financial Corporation Quarterly Earnings Release
Exhibit 99.1(b)
Three Months Ended
(In thousands, except ratio and share data)Sep. 30, 2025June 30, 2025Mar. 31, 2025Dec. 31, 2024Sep. 30, 2024
Reconciliation of pre-provision net revenue:
Net income before taxes$176,585 $180,761 $154,763 $175,434 $173,286 
Add: Provision for expected credit losses
2,000 — — — 2,000 
Less: Net income (loss) attributable to non-controlling interests
(23)52 (6)— (26)
Pre-provision net revenue$178,608 $180,709 $154,769 $175,434 $175,312 
Information on net interest income and net interest margin excluding trading activities:
Net interest income
$337,646 $328,166 $316,251 $313,046 $308,119 
Less: Trading activities net interest income
14,325 16,138 15,174 4,648 3,751 
Net interest income excluding trading activities
323,321 312,028 301,077 308,398 304,368 
Add: Tax-equivalent adjustment
2,565 2,574 2,542 2,466 2,385 
Tax-equivalent net interest income excluding trading activities
$325,886 $314,602 $303,619 $310,864 $306,753 
Average interest-earning assets$46,429,240 $46,984,071 $45,606,324 $45,375,438 $45,911,383 
Less: Average trading activities interest-earning assets5,603,200 6,876,788 5,881,997 5,636,949 5,802,448 
Average interest-earning assets excluding trading activities$40,826,040 $40,107,283 $39,724,327 $39,738,489 $40,108,935 
Net interest margin on average interest-earning assets2.91 %2.80 %2.78 %2.75 %2.68 %
Net interest margin on average trading activities interest-earning assets1.07 %0.93 %0.98 %0.36 %0.29 %
Net interest margin on average interest-earning assets excluding trading activities3.16 %3.12 %3.05 %3.09 %3.02 %
Explanation of Non-GAAP Measures
The tangible common equity ratio and return on average tangible common equity are primarily based on total shareholders' equity, which includes unrealized gains and losses on available-for-sale securities, less intangible assets and equity that does not benefit common shareholders. These measures are valuable indicators of a financial institution's capital strength since they eliminate intangible assets from shareholders' equity and retain the effect of unrealized losses on securities and other components of accumulated other comprehensive income in shareholders' equity.
The efficiency ratio measures the company's ability to use its assets and manage its liabilities effectively in the current period.
Pre-provision net revenue is a measure of revenue less expenses and is calculated before provision for credit losses and income tax expense. This financial measure is frequently used by investors and analysts and enables them to assess a company's ability to generate earnings to cover credit losses through a credit cycle. It also provides an additional basis for comparing the results of operations between periods by isolating the impact of the provision for credit losses, which can vary significantly between periods.
Net interest income and net interest margin excluding trading activities removes the effect of trading activities on these metrics allowing management and investors to assess the performance of the company's core lending and deposit activities without the associated volatility from trading activities.

17

BOK Financial Corporation Quarterly Earnings Release
Exhibit 99.1(b)
LOANS TREND – UNAUDITED
BOK FINANCIAL CORPORATION
(In thousands)Sep. 30, 2025June 30, 2025Mar. 31, 2025Dec. 31, 2024Sep. 30, 2024
Commercial:     
Healthcare$3,878,543 $3,808,936 $3,789,446 $3,967,533 $4,149,069 
Services3,710,643 3,658,807 3,704,834 3,643,203 3,573,670 
Energy2,681,512 2,734,713 2,860,330 3,254,724 3,126,635 
General business4,242,242 4,181,726 4,048,821 4,164,676 4,028,548 
Total commercial14,512,940 14,384,182 14,403,431 15,030,136 14,877,922 
Commercial real estate:
Multifamily2,500,323 2,473,365 2,336,312 2,237,064 2,109,445 
Industrial1,396,795 1,304,211 1,163,089 1,127,867 1,270,928 
Office811,601 690,086 704,688 755,838 815,966 
Retail593,835 592,043 497,579 485,926 521,874 
Residential construction and land development122,033 105,701 105,190 109,120 105,048 
Other commercial real estate328,020 356,035 356,678 342,637 365,394 
Total commercial real estate5,752,607 5,521,441 5,163,536 5,058,452 5,188,655 
Loans to individuals:     
Residential mortgage2,676,366 2,610,681 2,471,345 2,436,958 2,370,293 
Residential mortgages guaranteed by U.S. government agencies151,642 148,453 133,453 136,649 127,747 
Personal1,771,639 1,627,454 1,518,723 1,452,529 1,420,444 
Total loans to individuals4,599,647 4,386,588 4,123,521 4,026,136 3,918,484 
Total$24,865,194 $24,292,211 $23,690,488 $24,114,724 $23,985,061 
18

BOK Financial Corporation Quarterly Earnings Release
Exhibit 99.1(b)
LOANS MANAGED BY PRINCIPAL MARKET AREA – UNAUDITED
BOK FINANCIAL CORPORATION
(In thousands)Sep. 30, 2025June 30, 2025Mar. 31, 2025Dec. 31, 2024Sep. 30, 2024
Texas:
Commercial$6,800,577 $6,893,246 $6,953,714 $7,411,416 $7,437,800 
Commercial real estate2,107,335 1,997,598 1,864,345 1,731,281 1,816,276 
Loans to individuals1,037,831 996,341 929,825 918,994 880,213 
Total Texas9,945,743 9,887,185 9,747,884 10,061,691 10,134,289 
Oklahoma:
Commercial3,692,319 3,455,696 3,380,680 3,585,592 3,440,385 
Commercial real estate574,126 512,075 521,992 513,101 557,025 
Loans to individuals2,927,185 2,725,320 2,548,549 2,440,874 2,367,725 
Total Oklahoma7,193,630 6,693,091 6,451,221 6,539,567 6,365,135 
Colorado:
Commercial2,132,770 2,185,658 2,246,388 2,188,324 2,175,540 
Commercial real estate589,307 791,171 706,154 759,168 835,478 
Loans to individuals208,323 217,088 210,531 213,768 216,938 
Total Colorado2,930,400 3,193,917 3,163,073 3,161,260 3,227,956 
Arizona:
Commercial1,228,593 1,166,745 1,115,085 1,082,829 1,064,380 
Commercial real estate1,348,838 1,165,927 1,084,967 1,098,174 1,115,928 
Loans to individuals222,963 226,727 218,093 215,531 218,340 
Total Arizona2,800,394 2,559,399 2,418,145 2,396,534 2,398,648 
Kansas/Missouri:
Commercial270,068 303,692 298,410 305,957 306,370 
Commercial real estate618,052 556,390 533,335 515,511 438,424 
Loans to individuals142,408 155,154 147,651 164,638 158,524 
Total Kansas/Missouri1,030,528 1,015,236 979,396 986,106 903,318 
New Mexico:
Commercial282,479 282,918 324,321 325,246 324,605 
Commercial real estate458,720 443,516 381,775 402,217 386,037 
Loans to individuals51,056 55,714 57,926 60,703 64,511 
Total New Mexico792,255 782,148 764,022 788,166 775,153 
Arkansas:
Commercial106,134 96,227 84,833 130,772 128,842 
Commercial real estate56,229 54,764 70,968 39,000 39,487 
Loans to individuals9,881 10,244 10,946 11,628 12,233 
Total Arkansas172,244 161,235 166,747 181,400 180,562 
Total BOK Financial$24,865,194 $24,292,211 $23,690,488 $24,114,724 $23,985,061 
Loans attributed to a principal market may not always represent the location of the borrower or the collateral.

19

BOK Financial Corporation Quarterly Earnings Release
Exhibit 99.1(b)
DEPOSITS BY PRINCIPAL MARKET AREA – UNAUDITED
BOK FINANCIAL CORPORATION
(In thousands)Sep. 30, 2025June 30, 2025Mar. 31, 2025Dec. 31, 2024Sep. 30, 2024
Oklahoma:
    Demand$3,520,203 $3,589,146 $3,629,708 $3,618,771 $3,491,996 
    Interest-bearing:
       Transaction13,352,070 13,537,068 13,891,707 13,352,732 12,474,626 
       Savings520,995 521,734 525,424 497,443 490,957 
       Time2,356,945 2,166,094 2,089,744 2,138,620 2,462,463 
    Total interest-bearing16,230,010 16,224,896 16,506,875 15,988,795 15,428,046 
Total Oklahoma19,750,213 19,814,042 20,136,583 19,607,566 18,920,042 
Texas:
    Demand2,194,177 2,082,652 2,187,903 2,216,393 2,228,690 
    Interest-bearing:
       Transaction6,427,135 6,203,081 5,925,285 6,205,605 6,191,794 
       Savings147,560 155,027 155,777 154,112 152,392 
       Time649,757 638,657 633,538 646,490 648,796 
    Total interest-bearing7,224,452 6,996,765 6,714,600 7,006,207 6,992,982 
Total Texas9,418,629 9,079,417 8,902,503 9,222,600 9,221,672 
Colorado:
    Demand929,383 1,040,223 1,082,304 1,159,076 1,195,637 
    Interest-bearing:
       Transaction2,204,899 1,989,284 1,988,258 2,089,475 1,935,685 
       Savings53,768 55,326 58,318 59,244 56,275 
       Time284,962 278,914 274,235 280,081 279,887 
    Total interest-bearing2,543,629 2,323,524 2,320,811 2,428,800 2,271,847 
Total Colorado3,473,012 3,363,747 3,403,115 3,587,876 3,467,484 
New Mexico:
    Demand591,330 609,205 631,950 659,234 628,594 
    Interest-bearing:
       Transaction1,376,694 1,416,741 1,283,998 1,305,044 1,275,502 
       Savings94,180 94,930 96,969 90,580 90,867 
       Time347,227 340,946 344,827 347,443 336,830 
    Total interest-bearing1,818,101 1,852,617 1,725,794 1,743,067 1,703,199 
Total New Mexico2,409,431 2,461,822 2,357,744 2,402,301 2,331,793 
Arizona:
    Demand368,432 385,442 451,085 418,587 435,553 
    Interest-bearing:
       Transaction1,406,300 1,467,509 1,312,979 1,277,494 1,237,811 
       Savings13,571 10,536 11,125 12,336 11,228 
       Time71,886 72,041 70,758 70,390 59,508 
    Total interest-bearing1,491,757 1,550,086 1,394,862 1,360,220 1,308,547 
Total Arizona1,860,189 1,935,528 1,845,947 1,778,807 1,744,100 
20

BOK Financial Corporation Quarterly Earnings Release
Exhibit 99.1(b)
(In thousands)Sep. 30, 2025June 30, 2025Mar. 31, 2025Dec. 31, 2024Sep. 30, 2024
Kansas/Missouri:
    Demand282,235 269,408 279,808 277,440 255,950 
    Interest-bearing:
       Transaction1,151,956 1,169,161 1,202,107 1,169,541 1,134,544 
       Savings14,251 13,719 14,504 12,158 11,896 
       Time37,563 35,768 36,307 37,210 35,316 
    Total interest-bearing1,203,770 1,218,648 1,252,918 1,218,909 1,181,756 
Total Kansas/Missouri1,486,005 1,488,056 1,532,726 1,496,349 1,437,706 
Arkansas:
    Demand21,416 22,685 25,738 22,396 23,824 
    Interest-bearing:
       Transaction64,174 61,079 57,696 55,215 62,249 
       Savings2,411 2,485 2,602 2,944 3,092 
       Time14,538 17,248 17,019 15,176 15,156 
    Total interest-bearing81,123 80,812 77,317 73,335 80,497 
Total Arkansas102,539 103,497 103,055 95,731 104,321 
Total BOK Financial$38,500,018 $38,246,109 $38,281,673 $38,191,230 $37,227,118 
21

BOK Financial Corporation Quarterly Earnings Release
Exhibit 99.1(b)
NET INTEREST MARGIN TREND – UNAUDITED
BOK FINANCIAL CORPORATION
Three Months Ended
Sep. 30, 2025June 30, 2025Mar. 31, 2025Dec. 31, 2024Sep. 30, 2024
Tax-equivalent asset yields
Interest-bearing cash and cash equivalents4.39 %4.46 %4.48 %4.60 %5.33 %
Trading securities5.25 %5.05 %5.07 %4.90 %5.36 %
Investment securities, net of allowance1.41 %1.41 %1.42 %1.42 %1.41 %
Available-for-sale securities3.93 %3.89 %3.82 %3.82 %3.76 %
Fair value option securities5.45 %5.90 %3.72 %3.70 %3.69 %
Restricted equity securities7.84 %7.73 %7.51 %7.60 %8.20 %
Residential mortgage loans held for sale6.08 %6.13 %6.03 %5.85 %6.15 %
Loans6.70 %6.71 %6.71 %7.01 %7.47 %
Allowance for loan losses
Loans, net of allowance6.78 %6.79 %6.79 %7.10 %7.55 %
Total tax-equivalent yield on earning assets5.53 %5.47 %5.45 %5.59 %5.89 %
Cost of interest-bearing liabilities:
Interest-bearing deposits:
Transaction
3.14 %3.17 %3.21 %3.42 %3.78 %
Savings0.55 %0.54 %0.56 %0.59 %0.60 %
Time3.73 %3.83 %4.10 %4.56 %4.56 %
Total interest-bearing deposits3.14 %3.17 %3.24 %3.48 %3.79 %
Funds purchased and repurchase agreements3.29 %3.50 %3.05 %3.78 %3.89 %
Other borrowings4.54 %4.49 %4.57 %4.95 %5.55 %
Subordinated debt— %6.38 %6.44 %6.80 %7.15 %
Total cost of interest-bearing liabilities3.33 %3.40 %3.42 %3.69 %4.11 %
Tax-equivalent net interest spread
2.20 %2.07 %2.03 %1.90 %1.78 %
Effect of noninterest-bearing funding sources and other0.71 %0.73 %0.75 %0.85 %0.90 %
Tax-equivalent net interest margin2.91 %2.80 %2.78 %2.75 %2.68 %
Yield calculations are shown on a tax-equivalent basis at the statutory federal and state rates for the periods presented. The yield calculations exclude security trades that have been recorded on trade date with no corresponding interest income and the unrealized gains and losses. The yield calculation also includes average loan balances for which the accrual of interest has been discontinued and are net of unearned income. Yield/rate calculations are generally based on the conventions that determine how interest income and expense is accrued.
22

BOK Financial Corporation Quarterly Earnings Release
Exhibit 99.1(b)
CREDIT QUALITY INDICATORS – UNAUDITED
BOK FINANCIAL CORPORATION
Three Months Ended
(In thousands, except ratios)Sep. 30, 2025June 30, 2025Mar. 31, 2025Dec. 31, 2024Sep. 30, 2024
Nonperforming assets:
Nonaccruing loans:
Commercial:
Healthcare$24,507 $28,743 $29,253 $13,717 $15,927 
Services7,647 11,329 13,662 767 1,425 
Energy31 40 49 49 28,986 
General business85 45 103 114 5,334 
Total commercial32,270 40,157 43,067 14,647 51,672 
Commercial real estate6,809 6,925 13,125 9,905 12,364 
Loans to individuals:
Permanent mortgage21,255 20,654 20,502 15,261 13,688 
Permanent mortgage guaranteed by U.S. government agencies7,348 6,978 6,786 6,803 6,520 
Personal4,712 4,613 40 109 71 
Total loans to individuals33,315 32,245 27,328 22,173 20,279 
Total nonaccruing loans72,394 79,327 83,520 46,725 84,315 
Real estate and other repossessed assets1,751 1,729 1,769 2,254 2,625 
Total nonperforming assets$74,145 $81,056 $85,289 $48,979 $86,940 
Total nonperforming assets excluding those guaranteed by U.S. government agencies$66,797 $74,078 $78,503 $42,176 $80,420 
Accruing loans 90 days past due1
$1,135 $1,388 $3,258 $— $597 
Gross charge-offs$4,348 $1,313 $2,291 $1,339 $2,496 
Recoveries(721)(752)(1,186)(811)(2,550)
Net charge-offs (recoveries)$3,627 $561 $1,105 $528 $(54)
Provision for loan losses$4,270 $(984)$(336)$(3,893)$(3,424)
Provision for credit losses from off-balance sheet unfunded loan commitments(2,208)904 448 3,874 5,430 
Provision for expected credit losses from mortgage banking activities(74)77 (82)30 47 
Provision for credit losses related to held-to-maturity (investment) securities portfolio12 3 (30)(11)(53)
Total provision for credit losses$2,000 $— $— $— $2,000 
23

BOK Financial Corporation Quarterly Earnings Release
Exhibit 99.1(b)
Three Months Ended
(In thousands, except ratios)Sep. 30, 2025June 30, 2025Mar. 31, 2025Dec. 31, 2024Sep. 30, 2024
Allowance for loan losses to period end loans1.12 %1.14 %1.18 %1.16 %1.19 %
Combined allowance for loan losses and accrual for off-balance sheet credit risk from unfunded loan commitments to period end loans1.32 %1.36 %1.40 %1.38 %1.39 %
Nonperforming assets to period end loans and repossessed assets0.30 %0.33 %0.36 %0.20 %0.36 %
Net charge-offs (annualized) to average loans0.06 %0.01 %0.02 %0.01 %— %
Allowance for loan losses to nonaccruing loans1
426.92 %382.93 %363.06 %701.46 %365.65 %
Combined allowance for loan losses and accrual for off-balance sheet credit risk from unfunded loan commitments to nonaccruing loans1
504.99 %456.18 %430.95 %830.81 %427.05 %
1    Excludes residential mortgage loans guaranteed by agencies of the U.S. government.
24

BOK Financial Corporation Quarterly Earnings Release
Exhibit 99.1(b)
SEGMENTS – UNAUDITED
BOK FINANCIAL CORPORATION
Three Months Ended
3Q25 vs 2Q25
3Q25 vs 3Q24
(Dollars in thousands, except ratios)
Sep. 30, 2025June 30, 2025Sep. 30, 2024Change% ChangeChange% Change
Commercial Banking:
Net interest income$179,197 $175,826 $207,610 $3,371 1.9 %$(28,413)(13.7)%
Fees and commissions revenue57,537 58,400 55,865 (863)(1.5)%1,672 3.0 %
Combined net interest income and fee revenue236,734 234,226 263,475 2,508 1.1 %(26,741)(10.1)%
Other operating expense81,239 79,705 79,230 1,534 1.9 %2,009 2.5 %
Corporate allocations17,277 19,160 17,010 (1,883)(9.8)%267 1.6 %
Net income before taxes139,817 141,364 172,181 (1,547)(1.1)%(32,364)(18.8)%
Average assets$21,722,491 $21,318,236 $21,881,574 $404,255 1.9 %$(159,083)(0.7)%
Average loans20,280,147 19,894,391 20,340,512 385,756 1.9 %(60,365)(0.3)%
Average deposits18,161,258 17,424,707 17,131,237 736,551 4.2 %1,030,021 6.0 %
Consumer Banking:
Net interest income$58,451 $58,114 $65,263 $337 0.6 %$(6,812)(10.4)%
Fees and commissions revenue38,071 36,789 36,699 1,282 3.5 %1,372 3.7 %
Combined net interest income and fee revenue96,522 94,903 101,962 1,619 1.7 %(5,440)(5.3)%
Other operating expense64,042 55,476 57,779 8,566 15.4 %6,263 10.8 %
Corporate allocations14,326 15,039 13,298 (713)(4.7)%1,028 7.7 %
Net income before taxes14,490 24,746 24,774 (10,256)(41.4)%(10,284)(41.5)%
Average assets$8,372,125 $8,310,875 $8,172,256 $61,250 0.7 %$199,869 2.4 %
Average loans2,432,968 2,304,939 2,057,870 128,029 5.6 %375,098 18.2 %
Average deposits8,330,481 8,266,824 8,136,312 63,657 0.8 %194,169 2.4 %
Wealth Management:
Net interest income$43,626 $44,844 $33,185 $(1,218)(2.7)%$10,441 31.5 %
Fees and commissions revenue111,516 103,650 112,457 7,866 7.6 %(941)(0.8)%
Combined net interest income and fee revenue155,142 148,494 145,642 6,648 4.5 %9,500 6.5 %
Other operating expense102,971 93,281 93,539 9,690 10.4 %9,432 10.1 %
Corporate allocations15,568 14,471 13,458 1,097 7.6 %2,110 15.7 %
Net income before taxes36,606 40,749 38,804 (4,143)(10.2)%(2,198)(5.7)%
Average assets$11,265,485 $11,571,187 $10,566,503 $(305,702)(2.6)%$698,982 6.6 %
Average loans2,353,961 2,275,378 2,151,196 78,583 3.5 %202,765 9.4 %
Average deposits10,731,569 10,783,245 9,837,888 (51,676)(0.5)%893,681 9.1 %
Fiduciary assets73,862,296 71,057,135 63,703,618 2,805,161 3.9 %10,158,678 15.9 %
Assets under management or administration122,673,531 117,870,970 110,702,612 4,802,561 4.1 %11,970,919 10.8 %
Certain prior period amounts have been reclassified to conform to current period presentation.
25