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Other Borrowed Funds | 12 Months Ended
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Dec. 31, 2019
Debt Disclosure [Abstract] |
Other Borrowed Funds [Text Block] | Other Borrowed Funds Information relating to other borrowings is summarized as follows (dollars in thousands):
|  | As of |  | Year Ended
|  | December 31, 2019 |  | December 31, 2019
|  | Balance |  | Rate |  | Average Balance |  | Rate |  | Maximum Outstanding At Any Month End
Funds purchased |  | 3,390,528 |  |  | 1.53 | % |  | 2,438,376 |  |  | 2.08 | % |  | 3,390,528 |
Repurchase agreements |  | 427,822 |  |  | 0.50 | % |  | 399,785 |  |  | 0.57 | % |  | 427,822 |
Other borrowings: |  |  |  |  |  |  |  |  |  |
Federal Home Loan Bank advances |  | 4,500,000 |  |  | 1.79 | % |  | 7,122,466 |  |  | 2.44 | % |  | 8,000,000 |
GNMA repurchase liability |  | 15,417 |  |  | 4.32 | % |  | 13,746 |  |  | 4.47 | % |  | 19,581 |
Other |  | 11,638 |  |  | 5.09 | % |  | 11,144 |  |  | 5.30 | % |  | 34,676 |
Total other borrowings |  | 4,527,055 |  |  |  |  | 7,147,356 |  |  | 2.45 | % |  |
Subordinated debentures 1 |  | 275,923 |  |  | 5.15 | % |  | 276,075 |  |  | 5.47 | % |  | 275,923 |
Total other borrowed funds |  | $ | 8,621,328 |  |  |  |  | $ | 10,261,592 |  |  | 2.37 | % |  |
|  | As of |  | Year Ended
|  | December 31, 2018 |  | December 31, 2018
|  | Balance |  | Rate |  | Average Balance |  | Rate |  | Maximum Outstanding At Any Month End
Funds purchased |  | 402,450 |  |  | 2.34 | % |  | 419,322 |  |  | 1.89 | % |  | 949,531 |
Repurchase agreements |  | 615,961 |  |  | 0.36 | % |  | 464,582 |  |  | 0.28 | % |  | 615,961 |
Other borrowings: |  |  |  |  |  |  |  |  |  |
Federal Home Loan Bank advances |  | 6,100,000 |  |  | 2.65 | % |  | 6,207,142 |  |  | 2.06 | % |  | 6,500,000 |
GNMA repurchase liability |  | 15,552 |  |  | 4.43 | % |  | 14,783 |  |  | 4.47 | % |  | 16,529 |
Other |  | 8,838 |  |  | 2.90 | % |  | 14,516 |  |  | 2.67 | % |  | 20,422 |
Total other borrowings |  | 6,124,390 |  |  |  |  | 6,236,441 |  |  | 2.07 | % |  |
Subordinated debentures 1 |  | 275,913 |  |  | 5.34 | % |  | 177,884 |  |  | 5.52 | % |  | 275,913 |
Total other borrowed funds |  | $ | 7,418,714 |  |  |  |  | $ | 7,298,229 |  |  | 2.03 | % |  |
|  | As of |  | Year Ended
|  | December 31, 2017 |  | December 31, 2017
|  | Balance |  | Rate |  | Average Balance |  | Rate |  | Maximum Outstanding At Any Month End
Funds purchased |  | 58,628 |  |  | 1.00 | % |  | 58,064 |  |  | 0.73 | % |  | 80,967 |
Repurchase agreements |  | 516,335 |  |  | 0.17 | % |  | 433,791 |  |  | 0.10 | % |  | 536,094 |
Other borrowings: |  |  |  |  |  |  |  |  |  |
Federal Home Loan Bank advances |  | 5,100,000 |  |  | 1.47 | % |  | 5,882,466 |  |  | 1.13 | % |  | 6,200,000 |
GNMA repurchase liability |  | 19,947 |  |  | 4.22 | % |  | 20,509 |  |  | 4.59 | % |  | 24,139 |
Other |  | 14,950 |  |  | 2.61 | % |  | 16,317 |  |  | 3.35 | % |  | 18,610 |
Total other borrowings |  | 5,134,897 |  |  |  |  | 5,919,292 |  |  | 1.15 | % |  |
Subordinated debentures 1 |  | 144,677 |  |  | 5.60 | % |  | 147,954 |  |  | 5.57 | % |  | 151,875 |
Total other borrowed funds |  | $ | 5,854,537 |  |  |  |  | $ | 6,559,101 |  |  | 1.18 | % |  |
1 Parent Company only. Aggregate annual principal repayments at December 31, 2019 are as follows (in thousands):
2020 |  | $ | 8,335,742 |
2021 |  | 1,244 |
2022 |  | 575 |
2023 |  | 1,454 |
2024 |  | 3,599 |
Thereafter |  | 278,714 |
Total |  | $ | 8,621,328 |
Funds purchased are unsecured and generally mature within one day to ninety days from the transaction date. Securities repurchase agreements are recorded as secured borrowings that generally mature within ninety days and are secured by certain available for sale securities. Additional information relating to securities sold under agreements to repurchase and related liabilities at December 31, 2019 and 2018 is as follows (dollars in thousands):
|  | December 31, 2019
|  | Amortized |  | Fair |  | Repurchase |  |
Security Sold/Maturity |  | Cost |  | Value |  | Liability 1 |  | Rate
U.S. government agency mortgage-backed securities: |  |  |  |  |  |  |  |
Overnight 1 |  | $ | 431,939 |  |  | $ | 435,898 |  |  | $ | 427,822 |  |  | 0.50 | %
Long-term |  | — |  |  | — |  |  | — |  |  | — | %
Total Agency Securities |  | $ | 431,939 |  |  | $ | 435,898 |  |  | $ | 427,822 |  |  | 0.50 | %
|  | December 31, 2018
|  | Amortized |  | Fair |  | Repurchase |  |
Security Sold/Maturity |  | Cost |  | Value |  | Liability 1 |  | Rate
U.S. government agency mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |
Overnight 1 |  | $ | 636,864 |  |  | $ | 628,229 |  |  | $ | 615,961 |  |  | 0.36 | %
Long-term |  | — |  |  | — |  |  | — |  |  | — | %
Total Agency Securities |  | $ | 636,864 |  |  | $ | 628,229 |  |  | $ | 615,961 |  |  | 0.36 | %
1 | BOK Financial maintains control over the securities underlying overnight repurchase agreements and generally transfers control over securities underlying longer-term dealer repurchase agreements to the respective counterparty.
Borrowings from the Federal Home Loan Banks are used for funding purposes. In accordance with policies of the Federal Home Loan Banks, BOK Financial has granted a blanket pledge of eligible assets (generally unencumbered U.S. Treasury and residential mortgage-backed securities, 1-4 family loans and multifamily loans) as collateral for these advances. The Federal Home Loan Banks have issued letters of credit totaling $661 million to secure BOK Financial’s obligations to depositors of public funds. The unused credit available to BOK Financial at December 31, 2019 pursuant to the Federal Home Loan Bank’s collateral policies is $4.9 billion. In 2016, BOK Financial issued $150 million of subordinated debt that will mature on June 30, 2056. Interest on this debt bears an interest rate of 5.375%, payable quarterly. On June 30, 2021, BOK Financial will have the option to redeem the debt at the principal amount plus accrued interest, subject to regulatory approval. As a result of the acquisition of CoBiz Financial, we obtained $60 million of subordinated debt issued in June 2015 that will mature on June 25, 2030. This debt bears interest at the rate of 5.625% through June 2025 and thereafter, the notes will bear interest at an annual floating rate equal to three-month LIBOR plus 3.17%. The debt contains a call option that allows for repayment prior to contractual maturity. The call option is available on June 25, 2025 and quarterly thereafter at 100% of the principal amount. Also through CoBiz Financial, we acquired junior subordinated debentures split across three issuance tranches. Junior subordinated debentures of $21 million will mature September 17, 2033 and bear an interest rate of three-month LIBOR plus 2.95% that resets quarterly. Junior subordinated debentures of $31 million will mature on July 23, 2034 and bear an interest rate of three-month LIBOR plus 2.60% that resets quarterly. Junior subordinated debentures of $20 million will mature on September 30, 2035 and bear an interest rate of three-month LIBOR plus 1.45% that resets quarterly. The junior subordinated debentures are subject to early redemption prior to maturity. BOK Financial Securities, Inc. may borrow funds from Pershing, LLC ("Pershing"), a clearing broker/dealer and a wholly owned subsidiary of Bank of New York Mellon, for the purposes of financing securities purchases or to facilitate funding of investment banking activities, on terms to be negotiated at the time of the borrowing. BOK Financial Securities, Inc. had no borrowings outstanding at December 31, 2019 and none at December 31, 2018. The Company has a liability related to the repurchase of certain delinquent residential mortgage loans previously sold into GNMA mortgage pools. Interest is payable at rates contractually due to investors.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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