<SEC-DOCUMENT>0000875357-22-000002.txt : 20220317
<SEC-HEADER>0000875357-22-000002.hdr.sgml : 20220317
<ACCEPTANCE-DATETIME>20220111151335
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000875357-22-000002
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20220111

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BOK FINANCIAL CORP
		CENTRAL INDEX KEY:			0000875357
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		IRS NUMBER:				731373454
		STATE OF INCORPORATION:			OK
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		BANK OF OKLAHOMA TOWER
		STREET 2:		BOSTON AVENUE AT SECOND STREET
		CITY:			TULSA
		STATE:			OK
		ZIP:			74172
		BUSINESS PHONE:		9185886000

	MAIL ADDRESS:	
		STREET 1:		BANK OF OKLAHOMA TOWER
		STREET 2:		P O BOX 2300
		CITY:			TULSA
		STATE:			OK
		ZIP:			74192

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BOK FINANCIAL CORP ET AL
		DATE OF NAME CHANGE:	19950626
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>
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<title>Document</title></head><body><div id="ia151d31fa590496093bda99a2b4ce2fd_33"></div><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:120%">January 11, 2022</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:120%">Via EDGAR</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:120%">Mr. Rolf Sundwall</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:120%">Division of Corporation Finance</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:120%">Office of Finance</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:120%">US Securities and Exchange Commission</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:120%">Washington, DC 20549</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:120%">RE&#58;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">      </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:120%">BOK Financial Corporation</font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:120%">Form 10-K for the Year Ended December 31, 2020</font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:120%">Filed February 24, 2021</font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:120%">Form 10-Q for the Quarterly Period Ended September 30, 2021</font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:120%">Filed November 3, 2021</font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:120%">File No. 001-37811</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:109%">Dear Mr. Sundwall&#58;</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:109%">This letter is submitted by BOK Financial Corporation (&#8220;the Company&#8221; or &#8220;BOK Financial&#8221;) in response to comments received from the Securities and Exchange Commission staff in the letter dated December 21, 2021 regarding the Company&#8217;s filings referenced above. We appreciate the staff&#8217;s efforts to assist us in our compliance with the applicable disclosure requirements and to enhance disclosures in our filings. </font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:109%;text-decoration:underline">Form 10-K for the Fiscal Year Ended December 31, 2020</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:109%;text-decoration:underline">Cover Page</font></div><div><font><br></font></div><div style="padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:109%">1.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:109%;padding-left:9.66pt">We note that with the filing of your Form 8-A on June 24, 2016 your Commission File Number changed to 001-37811. Please represent to us that in all future periodic and current reports filed under the Exchange Act you will provide the correct file number. </font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:109%">The Company represents that it will provide the correct file number (001-37811) in all future periodic and current reports filed under the Exchange Act.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:109%;text-decoration:underline">Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:109%;text-decoration:underline">Results of Operations</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:109%;text-decoration:underline">Lines of Business, page 42</font></div><div><font><br></font></div><div style="padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:109%">2.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:109%;padding-left:9.66pt">In the individual segment tables and accompanying narrative disclosures you present and discuss &#8220;net loans charged off,&#8221; which appears to be the amounts for the provision for credit losses for the periods presented in your segment footnote. For example, 2020 &#8220;net loans charged off&#8221; for your Commercial Banking business of $69,475,000 from the table on page 43 agrees with the provision for credit losses amount for this segment presented in Note 17 on page 140. Please represent to us that in future filings you will revise your line of business tables and discussion to properly identify your provision or benefit for credit losses because charge-offs have a different connotation as you disclose in Note 4 and elsewhere. </font></div><div><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:109%">Consistent with how our Chief Operating Decision Maker evaluates the performance of our lines of business, we disclose in both the introduction to our Management&#8217;s Discussion and Analysis of the Financial Condition and Results of Operations from our Lines of Business on page 42 and our Reportable Segments footnote on page 139 that &#8220;We allocate resources and evaluate the performance of our lines of business using the net direct contribution, which includes the allocation of funds, actual net credit losses and capital costs.&#8221; and &#8220;Operating results for Funds Management and other include the effect of...the provision for credit losses in excess of net loans charged off...&#8221; </font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:109%">We also provide a description on page 140 in the Reportable Segments footnote of what the line represents&#58;  </font></div><div><font><br></font></div><div style="padding-left:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:109%">Net loans charged off and provision for credit losses represents net loans charged off as attributed to the lines of business and the provision for credit losses in excess of net charge-offs attributed to Funds Management and Other.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:109%">We will revise the line item caption in the Reportable Segments footnote tables in future filings to &#8220;Net loans charged off and provision for credit losses&#8221; to make this clearer.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:109%;text-decoration:underline">Form 10-Q for the Quarterly Periods Ended September 30, 2021</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:109%;text-decoration:underline">Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations, page 1</font></div><div><font><br></font></div><div style="padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:109%">3.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:109%;padding-left:9.66pt">Please revise your disclosure in your future and quarterly periodic filings to include a discussion of material changes in your results of operations on a year-to-date basis in addition to quarterly basis you currently disclose. Refer to Regulation S-K, Item 303(c)(2)(i).</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:109%">The Company will revise future filings to include a discussion of material changes in results of operations on a year-to-date basis in addition to the quarterly basis we currently disclose. </font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:109%">We acknowledge that the Company and its management are responsible for the accuracy and adequacy of our disclosures, notwithstanding any review, comments, action or absence of action by the Securities and Exchange Commission staff.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:109%">Sincerely,</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:109%">BOK Financial Corporation</font></div><div><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:26.762%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#47;s&#47; Steven E. Nell</font></td></tr></table></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:109%">Steven E. Nell</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:109%">Executive Vice President</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:109%">Chief Financial Officer</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:109%">Cc&#58;&#160;&#160;&#160;&#160;John C. Morrow, Chief Accounting Officer</font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:109%">Tamara Wagman, General Counsel</font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:109%">Ernst &#38; Young, LLP</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div></body></html>
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</SEC-DOCUMENT>
