BOK Financial (BOKF) investor relations material

Executive summary

• Q3 net income was $159.9M, or $2.64 diluted EPS, versus $176.5M and $2.92 in Q2; excluding Q2’s Visa gain and securities repositioning loss, Q2 net income was $156.5M, or $2.59 per share.

• Loans grew 2.4% QoQ and 11.5% YoY; core NIM expanded, while strong credit outcomes and disciplined expenses supported results.

Financial highlights

• Net interest income rose $18.1M QoQ to $370.0M; reported NIM increased 9 bps to 3.00%, and core NIM excluding trading expanded 8 bps to 3.21%.

• Fees and commissions were $188.0M, down $14.0M QoQ; total other operating revenue fell to $191.5M from $237.6M, reflecting lower trading and mortgage-related revenue and other revenue changes.

• Operating expense was $360.7M, down 0.3% QoQ and 2.5% YoY; excluding deferred compensation impacts, personnel expense rose $6.4M while non-personnel expense was flat.

• Pre-provision net revenue was $200.8M; reported and adjusted efficiency ratios were 63.5%.

• Securities runoff was $770M at an average yield of ~3.3%; reinvestment yield was slightly above 5.1%, a pickup of more than 180 bps.

Outlook and guidance

• FY2026 period-end loan growth guidance remains above 10%; total revenue growth is mid-single digits, with investment securities expected to remain flat.

• FY2026 net interest income guidance is $1.43B–$1.44B, non-FTE; fees and commissions are expected to exceed $800M.

• Expense growth is expected at ~1% YoY, GAAP-to-GAAP; efficiency ratio guidance is ~62%, or ~63% excluding the Q2 Visa gain.

• FY2026 provision expense is expected below $10M; near-term NIM outlook is stable, with fixed-rate asset repricing supporting longer-term expansion potential.

• Guidance assumes one additional Fed Funds increase through year-end and longer-term rates aligned with the market-implied forward curve; estimates assume no change in the economic environment.