BOK Financial (BOKF) investor relations material

Executive summary

• Q1 2026 net income was $155.8 million ($2.58 per diluted share), down from $177.3 million ($2.89 per share) in Q4 2025; adjusted Q4 2025 net income was $152.1 million ($2.48 per share) excluding one-time items.

• Loan growth was broad-based, with period-end loans up 2.1% sequentially and 10.5% year-over-year to $26.2 billion, driven by Commercial and Commercial Real Estate portfolios.

• Fee-based businesses performed well, with fee revenue exceeding three of the past four quarters and expenses meaningfully lower, reflecting disciplined cost management.

• Credit quality remained strong, with non-performing assets declining and net charge-offs averaging three basis points over the last 12 months.

• Capital and liquidity remain robust, with tangible common equity at 9.3% and a loan-to-deposit ratio of 68%.

Financial highlights

• Net interest income was $342.6 million, down $2.7 million sequentially but up 8.3% year-over-year; net interest margin declined 8 basis points to 2.90%.

• Fee income totaled $209.8 million, down $5.1 million sequentially but above three of the past four quarters.

• Expenses declined $6.9 million, with an efficiency ratio of 63.2%.

• Allowance for credit losses stood at $323 million or 1.23% of loans at quarter end.

• No provision for credit losses was recorded in Q1 2026.

Outlook and guidance

• Loan growth expected near 10% for full year 2026, with revenue growth in the mid-single digits.

• Net interest income guidance lowered to $1.42–$1.45 billion; fee income guidance raised to $820–$845 million.

• Expense growth anticipated in the low single digits, with a full-year efficiency ratio around 63%.

• Provision expense for 2026 guided to $15–$35 million, allowing for some normalization later in the year.

• No rate cuts assumed in current forecast for 2026.