EX-99.1 2 a20240930bokfex99.htm EX-99.1
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BOK Financial Corporation reports quarterly earnings of $140 million, or $2.18 per share, in the third quarter.

Third quarter 2024 financial highlights 1
Net Income |  | Net income was $140.0 million, or $2.18 per diluted share, compared to $163.7 million, or $2.54 per diluted share.
Net Interest Income & Margin |  | Net interest income totaled $308.1 million, an increase of $12.1 million. Net interest margin expanded to 2.68% compared to 2.56% in the prior quarter.
Fees & Commissions Revenue |  | Fees and commissions revenue was $202.5 million, an increase of $2.5 million. Higher transaction card revenue and other revenue was partially offset by lower brokerage and trading revenue.
Operating Expense |  | Operating expense increased $4.3 million to $341.0 million, primarily due to an increase in personnel expense with higher incentive compensation and regular compensation. Non-personnel expense decreased $11.4 million, largely due to our contribution to the BOKF Foundation in the prior quarter.
Loans |  | Period end loans were $24.0 billion, a decrease of $569 million. A decrease in commercial loan balances was partially offset by growth in commercial real estate loans. Average outstanding loan balances were $24.3 billion, an $80 million decrease.
Credit Quality |  | Nonperforming assets declined to $87 million, or 0.36% of outstanding loans and repossessed assets, at September 30, 2024, from $93 million, or 0.38%, at June 30, 2024. Net recoveries were $54 thousand, or less than 0.01% of average loans on an annualized basis, in the third quarter.
Deposits |  | Period end deposits grew by $985 million to $37.2 billion, while average deposits increased $1.1 billion to $36.8 billion. Average interest-bearing deposits increased $1.2 billion, while average demand deposits decreased by $113 million. The loan to deposit ratio was 64% at September 30, 2024, compared to 68% at June 30, 2024.
Capital |  | Tangible common equity ratio was 9.22% compared to 8.38% at June 30, 2024. Tier 1 capital ratio was 12.74%, Common equity Tier 1 capital ratio was 12.73%, and total capital ratio was 13.91%.

1 Comparisons are to prior quarter unless otherwise noted.

p | $12.1 million |  |  |  |  |  | Zero bps |  |  |  |  |  |  |  | 3% | p | $1.1 billion
NET INTEREST INCOME |  |  |  | NET CHARGE OFFS - ANNUALIZED |  |  |  | AVERAGE DEPOSIT GROWTH

CEO Commentary
“BOK Financial maintained our consistent earnings growth in the third quarter as we benefited from net interest income growth and exceptional asset quality. Our business model has proven resilient through many different types of business cycles given our revenue diversity and commitment to risk management. The economic growth of our eight-state footprint coupled with our high levels of tangible capital and liquidity should be the raw materials for future growth for BOK Financial. We’ve proven over a long history that we have strong risk management practices as it relates to credit, interest rate, liquidity and capital risk while also demonstrating a higher long-term earnings growth profile.”

BOK Financial Corporation quarterly earnings release | Exhibit 99.1(a)

Net Interest Income

(In thousands) |  | Sep. 30, 2024 |  | June 30, 2024 |  | Change |  | % Change
Interest revenue |  | $ | 680,310 |  |  | $ | 671,817 |  |  | $ | 8,493 |  |  | 1.3 | %
Interest expense |  | 372,191 |  |  | 375,796 |  |  | (3,605) |  |  | (1.0) | %
Net interest income |  | $ | 308,119 |  |  | $ | 296,021 |  |  | $ | 12,098 |  |  | 4.1 | %
Net interest margin |  | 2.68 | % |  | 2.56 | % |  | 0.12 | % |  | N/A
Average earning assets |  | $ | 45,911,383 |  |  | $ | 46,019,346 |  |  | $ | (107,963) |  |  | (0.2) | %
Average trading securities |  | 5,802,448 |  |  | 5,922,891 |  |  | (120,443) |  |  | (2.0) | %
Average investment securities |  | 2,094,408 |  |  | 2,151,079 |  |  | (56,671) |  |  | (2.6) | %
Average available for sale securities |  | 12,939,422 |  |  | 12,755,865 |  |  | 183,557 |  |  | 1.4 | %
Average loans balance |  | 24,304,884 |  |  | 24,385,153 |  |  | (80,269) |  |  | (0.3) | %
Average interest-bearing deposits |  | 28,486,641 |  |  | 27,266,244 |  |  | 1,220,397 |  |  | 4.5 | %
Funds purchased and repurchase agreements |  | 1,016,688 |  |  | 1,838,323 |  |  | (821,635) |  |  | (44.7) | %
Other borrowings |  | 6,366,046 |  |  | 7,151,228 |  |  | (785,182) |  |  | (11.0) | %

Net interest income was $308.1 million for the third quarter of 2024, compared to $296.0 million for the prior quarter. Net interest margin was 2.68%, compared to 2.56%, due to increased yields on our available for sale securities portfolio, combined with higher loan fees driven by payoffs and the funding shift from wholesale borrowings to interest-bearing deposits. For the third quarter of 2024, our core net interest margin excluding trading activities, a non-GAAP measure, was 3.02% compared to 2.94% in the prior quarter.
Average earning assets decreased $108 million. Average loan balances decreased $80 million, largely due to a decrease in commercial loans, partially offset by growth in commercial real estate loan balances. Average available for sale securities grew $184 million, while average trading securities decreased $120 million. Average interest-bearing deposits increased $1.2 billion, primarily from interest-bearing transaction accounts. Funds purchased and repurchase agreements decreased $822 million, while average other borrowings decreased $785 million.
The yield on average earning assets was 5.89%, up 9 basis points. The loan portfolio yield increased 6 basis points to 7.47%, while the yield on the available for sale securities portfolio increased 5 basis points to 3.76%. The yield on trading securities was up 30 basis points to 5.36% and the yield on interest-bearing cash and cash equivalents decreased 53 basis points to 5.33%.
Funding costs were 4.11%, down 4 basis points. The cost of interest-bearing deposits increased 3 basis points to 3.79%. The cost of funds purchased and repurchase agreements decreased 39 basis points to 3.89%. The benefit to net interest margin from assets funded by non-interest liabilities was 90 basis points, a decrease of 1 basis point.
2

BOK Financial Corporation quarterly earnings release | Exhibit 99.1(a)

Other Operating Revenue

(In thousands) |  | Sep. 30, 2024 |  | June 30, 2024 |  | Change |  | % Change
Brokerage and trading revenue |  | $ | 50,391 |  |  | $ | 53,017 |  |  | $ | (2,626) |  |  | (5.0) | %
Transaction card revenue |  | 28,495 |  |  | 27,246 |  |  | 1,249 |  |  | 4.6 | %
Fiduciary and asset management revenue |  | 57,384 |  |  | 57,576 |  |  | (192) |  |  | (0.3) | %
Deposit service charges and fees |  | 30,450 |  |  | 29,572 |  |  | 878 |  |  | 3.0 | %
Mortgage banking revenue |  | 18,372 |  |  | 18,628 |  |  | (256) |  |  | (1.4) | %
Other revenue |  | 17,402 |  |  | 13,988 |  |  | 3,414 |  |  | 24.4 | %
Total fees and commissions |  | 202,494 |  |  | 200,027 |  |  | 2,467 |  |  | 1.2 | %
Other gains, net |  | 13,087 |  |  | 57,375 |  |  | (44,288) |  |  | N/A
Gain (loss) on derivatives, net |  | 8,991 |  |  | (1,091) |  |  | 10,082 |  |  | N/A
Gain (loss) on fair value option securities, net |  | 764 |  |  | (94) |  |  | 858 |  |  | N/A
Change in fair value of mortgage servicing rights |  | (16,453) |  |  | 3,453 |  |  | (19,906) |  |  | N/A
Gain (loss) on available for sale securities, net |  | (691) |  |  | 34 |  |  | (725) |  |  | N/A
Total other operating revenue |  | $ | 208,192 |  |  | $ | 259,704 |  |  | $ | (51,512) |  |  | (19.8) | %

Fees and commissions revenue totaled $202.5 million for the third quarter of 2024, an increase of $2.5 million over the prior quarter.
Other revenue increased $3.4 million to $17.4 million, largely due to an increase in letter of credit fees and fees earned on derivative counterparty margin.
Transaction card revenue grew $1.2 million to $28.5 million, primarily due to an increase in the volume of transactions processed during the third quarter of 2024.
Brokerage and trading revenue decreased $2.6 million to $50.4 million. Trading revenue decreased $4.1 million to $23.6 million. A decline in U.S agency residential mortgage-backed securities trading volumes, driven by market conditions in the third quarter of 2024, was partially offset by an increase in municipal trading revenue led by strong activity in this sector. Investment banking revenue and customer hedging revenue also grew slightly over the prior quarter.
Other gains, net, were $13.1 million for the third quarter of 2024, compared to $57.4 million in the second quarter of 2024. The prior quarter included a $53.8 million pre-tax gain on the conversion of our Visa B shares under the exchange offer announced by Visa, Inc. During the third quarter of 2024, we sold the remaining 133,472 converted shares of Visa common stock and realized an additional pre-tax gain of $3.1 million. The current quarter also included a gain on merchant banking investments of $5.0 million and a gain on investments related to deferred compensation of $3.8 million.
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BOK Financial Corporation quarterly earnings release | Exhibit 99.1(a)

Operating Expenses

(In thousands) |  | Sep. 30, 2024 |  | June 30, 2024 |  | Change |  | % Change
Personnel |  | $ | 206,821 |  |  | $ | 191,090 |  |  | $ | 15,731 |  |  | 8.2 | %
Business promotion |  | 7,681 |  |  | 8,250 |  |  | (569) |  |  | (6.9) | %
Charitable contributions to BOKF Foundation |  | — |  |  | 13,610 |  |  | (13,610) |  |  | N/A
Professional fees and services |  | 13,405 |  |  | 13,331 |  |  | 74 |  |  | 0.6 | %
Net occupancy and equipment |  | 32,077 |  |  | 30,245 |  |  | 1,832 |  |  | 6.1 | %
FDIC and other insurance |  | 8,186 |  |  | 7,317 |  |  | 869 |  |  | 11.9 | %
FDIC special assessment |  | (1,437) |  |  | 1,190 |  |  | (2,627) |  |  | N/A
Data processing and communications |  | 47,554 |  |  | 46,131 |  |  | 1,423 |  |  | 3.1 | %
Printing, postage and supplies |  | 3,594 |  |  | 3,789 |  |  | (195) |  |  | (5.1) | %
Amortization of intangible assets |  | 2,856 |  |  | 2,898 |  |  | (42) |  |  | (1.4) | %
Mortgage banking costs |  | 9,059 |  |  | 8,532 |  |  | 527 |  |  | 6.2%
Other expense |  | 11,229 |  |  | 10,307 |  |  | 922 |  |  | 8.9 | %
Total operating expense |  | $ | 341,025 |  |  | $ | 336,690 |  |  | $ | 4,335 |  |  | 1.3 | %

Total operating expense was $341.0 million for the third quarter of 2024, an increase of $4.3 million compared to the second quarter of 2024.
Personnel expense was $206.8 million, an increase of $15.7 million. Cash-based incentive compensation expense increased $7.8 million as the prior quarter received a benefit due to a shift in the timing of expense recognition as commercial incentive compensation plans moved to being primarily share-based rather than cash-based awards. Share-based compensation increased $3.5 million based on changes in assumptions of certain performance-based equity awards. Deferred compensation expense increased $1.8 million to $4.0 million; however, this was largely offset by an increase in the value of related investments included in Other gains, net. Regular compensation expense increased $2.7 million, driven by additional staffing and a reduction in the amount of compensation expense capitalized during the third quarter. This was due to decreased loan production levels and the implementation of a significant project in the prior quarter.
Non-personnel expense was $134.2 million, a decrease of $11.4 million. The prior quarter included a $13.6 million charitable donation to the BOKF Foundation. In the third quarter of 2024, the FDIC updated their estimate of the special assessment, resulting in a benefit of $1.4 million, compared to $1.2 million of expense in the prior quarter. Net occupancy and equipment expense increased $1.8 million and data processing and communications expense grew $1.4 million, primarily due to ongoing projects.
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BOK Financial Corporation quarterly earnings release | Exhibit 99.1(a)

Loans

(In thousands) |  | Sep. 30, 2024 |  | June 30, 2024 |  | Change |  | % Change
Commercial: |  |  |  |  |  |  |  |
Healthcare |  | $ | 4,149,069 |  | $ | 4,231,058 |  | $ | (81,989) |  | (1.9)%
Services |  | 3,573,670 |  | 3,577,144 |  | (3,474) |  | (0.1)%
Energy |  | 3,126,635 |  | 3,451,485 |  | (324,850) |  | (9.4)%
General business |  | 4,028,548 |  | 4,363,722 |  | (335,174) |  | (7.7)%
Total commercial |  | 14,877,922 |  | 15,623,409 |  | (745,487) |  | (4.8)%
Commercial Real Estate: |  |  |  |  |  |  |  |
Multifamily |  | 2,109,445 |  | 1,997,282 |  | 112,163 |  | 5.6%
Industrial |  | 1,270,928 |  | 1,214,991 |  | 55,937 |  | 4.6%
Office |  | 815,966 |  | 876,897 |  | (60,931) |  | (6.9)%
Retail |  | 521,874 |  | 547,706 |  | (25,832) |  | (4.7)%
Residential construction and land development |  | 105,048 |  | 88,252 |  | 16,796 |  | 19.0%
Other real estate loans |  | 365,394 |  | 358,447 |  | 6,947 |  | 1.9%
Total commercial real estate |  | 5,188,655 |  | 5,083,575 |  | 105,080 |  | 2.1%
Loans to individuals: |  |  |  |  |  |  |  |
Residential mortgage |  | 2,370,293 |  | 2,281,226 |  | 89,067 |  | 3.9%
Residential mortgages guaranteed by U.S. government agencies |  | 127,747 |  | 131,825 |  | (4,078) |  | (3.1)%
Personal |  | 1,420,444 |  | 1,433,546 |  | (13,102) |  | (0.9)%
Total loans to individuals |  | 3,918,484 |  | 3,846,597 |  | 71,887 |  | 1.9%
Total loans |  | $ | 23,985,061 |  | $ | 24,553,581 |  | $ | (568,520) |  | (2.3)%

Outstanding loans were $24.0 billion at September 30, 2024, a decrease of $569 million compared to June 30, 2024, largely due to a reduction in commercial loans, partially offset by an increase in commercial real estate loans and loans to individuals. Unfunded loan commitments increased $441 million compared to the second quarter of 2024.
Outstanding commercial loan balances, which includes healthcare, services, energy and general business loans, decreased $745 million compared to the prior quarter.
General business loans decreased $335 million to $4.0 billion, or 17% of total loans. General business loans include $2.6 billion of wholesale/retail loans and $1.5 billion of loans from other commercial industries.
Energy loan balances decreased $325 million to $3.1 billion, or 13% of total loans. 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 70% of committed production loans are secured by properties primarily producing oil. The remaining 30% is secured by properties primarily producing natural gas. Unfunded energy loan commitments were $4.5 billion at September 30, 2024, a $95 million increase over June 30, 2024.
Healthcare sector loan balances decreased $82 million, totaling $4.1 billion, or 17% of total loans. Our healthcare sector loans primarily consist of $3.4 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.
Services sector loan balances were unchanged at $3.6 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.
5

BOK Financial Corporation quarterly earnings release | Exhibit 99.1(a)

Commercial real estate loan balances increased $105 million to $5.2 billion and represent 22% of total loans. Loans secured by multifamily properties increased $112 million to $2.1 billion. Loans secured by industrial facilities increased $56 million to $1.3 billion, and construction and land development loans increased $17 million to $105 million. The increases in these portfolios were partially offset by a $61 million decrease in loans secured by office facilities and a $26 million decrease in loans secured by retail facilities. Unfunded commercial real estate loan commitments were $1.7 billion at September 30, 2024, a $131 million increase compared to June 30, 2024. We take a disciplined approach to managing our concentration of commercial real estate loan commitments as a percentage of capital.
Loans to individuals increased $72 million and represent 16% of total loans. Residential mortgage loans increased $85 million while personal loans decreased $13 million.
Period End & Average Deposits

(In thousands) |  | Sep. 30, 2024 |  | June 30, 2024 |  | Change |  | % Change
Period end deposits |  |  |  |  |  |  |  |
Demand |  | $ | 8,260,244 |  |  | $ | 8,840,178 |  |  | $ | (579,934) |  |  | (6.6) | %
Interest-bearing transaction |  | 24,312,211 |  |  | 23,107,042 |  |  | 1,205,169 |  |  | 5.2 | %
Savings |  | 816,707 |  |  | 830,489 |  |  | (13,782) |  |  | (1.7) | %
Time |  | 3,837,956 |  |  | 3,463,935 |  |  | 374,021 |  |  | 10.8 | %
Total deposits |  | $ | 37,227,118 |  |  | $ | 36,241,644 |  |  | $ | 985,474 |  |  | 2.7 | %
Average deposits |  |  |  |  |  |  |  |
Demand |  | $ | 8,273,656 |  |  | $ | 8,386,979 |  |  | $ | (113,323) |  |  | (1.4) | %
Interest-bearing transaction |  | 23,986,697 |  |  | 23,006,204 |  |  | 980,493 |  |  | 4.3 | %
Savings |  | 820,980 |  |  | 832,704 |  |  | (11,724) |  |  | (1.4) | %
Time |  | 3,678,964 |  |  | 3,427,336 |  |  | 251,628 |  |  | 7.3 | %
Total average deposits |  | $ | 36,760,297 |  |  | $ | 35,653,223 |  |  | $ | 1,107,074 |  |  | 3.1 | %

Our funding sources, which primarily include deposits and wholesale borrowings, provide adequate liquidity to meet our needs. The loan to deposit ratio was 64% at September 30, 2024, compared to 68% at June 30, 2024, providing significant on-balance sheet liquidity to meet future loan demand and contractual obligations.
Period end deposits totaled $37.2 billion at September 30, 2024, a $985 million increase. Interest-bearing transaction account balances increased $1.2 billion while time deposits increased $374 million. Demand deposits decreased $580 million following elevated customer activity at the end of the previous quarter.
Average deposits were $36.8 billion at September 30, 2024, a $1.1 billion increase. Average interest-bearing transaction account balances increased $980 million and average time deposits increased $252 million. Average demand deposit account balances decreased $113 million.
Average Commercial Banking deposits increased $942 million to $17.1 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. Wealth Management deposits increased $287 million to $9.8 billion, or 27% of total deposits. Consumer Banking deposits increased $63 million to $8.1 billion, or 22% of total deposits.
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BOK Financial Corporation quarterly earnings release | Exhibit 99.1(a)

Capital

| Minimum Capital Requirement |  | Capital Conservation Buffer |  | Minimum Capital Requirement Including Capital Conservation Buffer |  | Sep. 30, 2024 |  | June 30, 2024
Common equity Tier 1 | 4.50 | % |  | 2.50 | % |  | 7.00 | % |  | 12.73 | % |  | 12.10 | %
Tier 1 capital | 6.00 | % |  | 2.50 | % |  | 8.50 | % |  | 12.74 | % |  | 12.11 | %
Total capital | 8.00 | % |  | 2.50 | % |  | 10.50 | % |  | 13.91 | % |  | 13.25 | %
Tier 1 Leverage | 4.00 | % |  | N/A |  | 4.00 | % |  | 9.67 | % |  | 9.39 | %
Tangible common equity ratio 1 |  |  |  |  |  |  | 9.22 | % |  | 8.38 | %
Adjusted common tangible equity ratio 1 |  |  |  |  |  |  | 9.01 | % |  | 8.06 | %
Common stock repurchased (shares) |  |  |  |  |  |  | — |  |  | 412,176 |
Average price per share repurchased |  |  |  |  |  |  | $ | — |  |  | $ | 90.38 |

1 See Explanation and Reconciliation of Non-GAAP Measures following.
The company's common equity Tier 1 capital ratio was 12.73% at September 30, 2024. In addition, the company's Tier 1 capital ratio was 12.74%, total capital ratio was 13.91%, and leverage ratio was 9.67% at September 30, 2024. At the beginning of 2020, we elected to delay the regulatory capital impact of the transition of the allowance for credit losses from the incurred loss methodology to CECL for two years, followed by a three-year transition period. This election added 3 basis points to the company's common equity Tier 1 capital ratio at September 30, 2024. At June 30, 2024, the company's common equity Tier 1 capital ratio was 12.10%, Tier 1 capital ratio was 12.11%, total capital ratio was 13.25%, and leverage ratio was 9.39%.
The company's tangible common equity ratio, a non-GAAP measure, was 9.22% at September 30, 2024, and 8.38% at June 30, 2024. The tangible common equity ratio is primarily based on total shareholders' equity, which includes unrealized gains and losses on available for sale securities. Adjusted for all unrealized securities portfolio gains and losses, including those in the investment portfolio, the tangible common equity ratio would be 9.01%.
No shares were repurchased during the third quarter of 2024. The company repurchased 412,176 shares of common stock at an average price paid of $90.38 a share in the second quarter of 2024. We view share buybacks opportunistically, but within the context of maintaining our strong capital position.
Credit Quality
Nonperforming assets totaled $87 million, or 0.36% of outstanding loans and repossessed assets, at September 30, 2024, compared to $93 million, or 0.38%, at June 30, 2024. Excluding loans guaranteed by U.S. government agencies, nonperforming assets totaled $80 million, or 0.34% of outstanding loans and repossessed assets, at September 30, 2024, compared to $86 million, or 0.35%, at June 30, 2024.
Nonaccruing loans decreased $6.4 million compared to June 30, 2024. New nonaccruing loans identified in the third quarter totaled $26 million, offset by $29 million in payments received and $2.5 million in charge-offs. Nonaccruing healthcare loans decreased $4.9 million and nonaccruing services loans decreased $1.7 million, partially offset by a $1.1 million increase in nonaccruing residential mortgage loans.
Net recoveries were $54 thousand, or less than 0.01% of average loans on an annualized basis, in the third quarter. Net charge-offs were $6.9 million, or 0.11% of average loans on an annualized basis, in the second quarter of 2024.
The provision for credit losses of $2.0 million in the third quarter of 2024 reflects continued strong credit quality, net loan paydowns, and relatively minor changes in economic forecast scenario assumptions. The provision for credit losses was $8.0 million in the second quarter of 2024.
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BOK Financial Corporation quarterly earnings release | Exhibit 99.1(a)

At September 30, 2024, the combined allowance for loan losses and accrual for off-balance sheet credit risk from unfunded loan commitments was $332 million, or 1.39% of outstanding loans and 427% of nonaccruing loans. At June 30, 2024, the combined allowance for loan losses and accrual for off-balance sheet credit risk from unfunded loan commitments was $330 million, or 1.34% of outstanding loans and 393% of nonaccruing loans.
Securities & Derivatives
The fair value of the available for sale securities portfolio totaled $13.0 billion at September 30, 2024, a $222 million increase compared to June 30, 2024. At September 30, 2024, the available for sale securities portfolio consisted primarily of $8.6 billion of residential mortgage-backed securities fully backed by U.S. government agencies and $3.4 billion of commercial mortgage-backed securities fully backed by U.S. government agencies. At September 30, 2024, the available for sale securities portfolio had a net unrealized loss of $307 million, compared to $649 million at June 30, 2024.
We hold an inventory of trading securities in support of sales to a variety of customers. At September 30, 2024, the trading securities portfolio totaled $5.1 billion, compared to $5.2 billion at June 30, 2024.
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 increased $122 thousand to $19.2 million at September 30, 2024.
Derivative contracts are carried at fair value. At September 30, 2024, the net fair values of derivative contracts, before consideration of cash margin, reported as assets under our customer derivative programs totaled $415 million, compared to $339 million at June 30, 2024. The aggregate net fair value of derivative contracts, before consideration of cash margin, held under these programs reported as liabilities totaled $393 million at September 30, 2024, and $327 million at June 30, 2024.
The net cost of the changes in the fair value of mortgage servicing rights and related economic hedges was $4.5 million during the third quarter of 2024, including a $16.5 million decrease in the fair value of mortgage servicing rights, a $12.1 million increase in the fair value of securities and derivative contracts held as an economic hedge, and $146 thousand of related net interest expense.
Third Quarter 2024 Segment Highlights

|  | Commercial Banking |  | Consumer Banking |  | Wealth Management
(In thousands) |  | Sep. 30, 2024 |  | June 30, 2024 |  | Sep. 30, 2024 |  | June 30, 2024 |  | Sep. 30, 2024 |  | June 30, 2024
Net interest income and fee revenue |  | $ | 263,475 |  |  | $ | 257,476 |  | $ | 101,962 |  |  | $ | 101,416 |  | $ | 145,642 |  |  | $ | 142,709
Net loans charged-off (recovered) |  | (1,329) |  |  | 6,134 |  | 1,779 |  |  | 1,247 |  | (159) |  |  | —
Personnel expense |  | 48,152 |  |  | 45,964 |  | 24,616 |  |  | 24,016 |  | 66,524 |  |  | 63,669
Non-personnel expense |  | 30,235 |  |  | 30,150 |  | 33,163 |  |  | 31,112 |  | 27,015 |  |  | 26,545
Net income |  | 129,854 |  |  | 119,579 |  | 18,948 |  |  | 24,117 |  | 29,616 |  |  | 27,497
Average loans |  | 20,340,512 |  |  | 20,403,837 |  | 2,057,870 |  |  | 1,975,106 |  | 2,151,196 |  |  | 2,199,747
Average deposits |  | 17,131,237 |  |  | 16,189,003 |  | 8,136,312 |  |  | 8,073,782 |  | 9,837,888 |  |  | 9,551,307
Assets under management or administration |  | — |  |  | — |  | — |  |  | — |  | 110,702,612 |  |  | 107,477,030

Commercial Banking contributed $129.9 million to net income in the third quarter of 2024, an increase of $10.3 million compared to the second quarter of 2024. Combined net interest income and fee revenue increased $6.0 million. Net interest income increased $3.9 million due to increased loan fees from early payoffs and increased non-use fees. Transaction card revenue increased $1.2 million driven by a rise in transaction volume processed during the third quarter. Net loans charged-off decreased $7.5 million to recoveries of $1.3 million in the third quarter of 2024. Personnel expense increased $2.2 million due to increased incentive compensation costs during the quarter while non-personnel expense was consistent with the prior quarter. Other gains, net, grew $2.6 million related to increased gains on merchant banking
8

BOK Financial Corporation quarterly earnings release | Exhibit 99.1(a)

investments. Average loans were relatively consistent with the prior quarter at $20.3 billion. Average deposits increased $942 million, or 6%, to $17.1 billion.
Consumer Banking contributed $18.9 million to net income in the third quarter of 2024, a decrease of $5.2 million compared to the prior quarter. Combined net interest income and fee revenue was consistent with the prior quarter. Operating expense increased $2.7 million. The net cost of the changes in the fair value of mortgage servicing rights and related economic hedges was $4.5 million, compared to $221 thousand for the second quarter of 2024. Average loans increased $83 million, or 4%, to $2.1 billion. Average deposits increased $63 million, or 1%, to $8.1 billion.
Wealth Management contributed $29.6 million to net income in the third quarter of 2024, an increase of $2.1 million over the second quarter of 2024. Combined net interest income and fee revenue increased $2.9 million, primarily due to an increase in letter of credit fees and fees earned on derivative counterparty margin. Operating expense increased $3.3 million, largely due to growth in incentive compensation expense. Corporate expense allocations decreased $3.0 million compared to the prior quarter. Average loans decreased $49 million, or 2%, to $2.2 billion. Average deposits increased $287 million, or 3%, to $9.8 billion. Assets under management or administration were $110.7 billion, an increase of $3.2 billion, or 3%.
Conference Call & Webcast
The company will hold a conference call at noon Central time on Tuesday, October 22, 2024, 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 playback ID: 6617678.
About BOK Financial Corporation
BOK Financial Corporation is a $50 billion regional financial services company headquartered in Tulsa, Oklahoma with $111 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, 2024 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 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.
9

BOK Financial Corporation quarterly earnings release | Exhibit 99.1(b)

BALANCE SHEETS – UNAUDITED
BOK FINANCIAL CORPORATION

(In thousands) | Sep. 30, 2024 |  | June 30, 2024 |  |
Assets |  |  |  |  |
Cash and due from banks | $ | 928,997 |  |  | $ | 897,811 |  |  |
Interest-bearing cash and cash equivalents | 547,043 |  |  | 178,352 |  |  |
Trading securities | 5,139,725 |  |  | 5,212,791 |  |  |
Investment securities, net of allowance | 2,069,865 |  |  | 2,128,881 |  |  |
Available for sale securities | 13,015,986 |  |  | 12,793,784 |  |  |
Fair value option securities | 19,172 |  |  | 19,050 |  |  |
Restricted equity securities | 389,335 |  |  | 475,209 |  |  |
Residential mortgage loans held for sale | 95,494 |  |  | 107,465 |  |  |
Loans: |  |  |  |  |
Commercial | 14,877,922 |  |  | 15,623,409 |  |  |
Commercial real estate | 5,188,655 |  |  | 5,083,575 |  |  |
Loans to individuals | 3,918,484 |  |  | 3,846,597 |  |  |
Total loans | 23,985,061 |  |  | 24,553,581 |  |  |
Allowance for loan losses | (284,456) |  |  | (287,826) |  |  |
Loans, net of allowance | 23,700,605 |  |  | 24,265,755 |  |  |
Premises and equipment, net | 632,819 |  |  | 632,388 |  |  |
Receivables | 299,686 |  |  | 334,019 |  |  |
Goodwill | 1,044,749 |  |  | 1,044,749 |  |  |
Intangible assets, net | 51,205 |  |  | 54,028 |  |  |
Mortgage servicing rights | 315,920 |  |  | 333,246 |  |  |
Real estate and other repossessed assets, net | 2,625 |  |  | 2,334 |  |  |
Derivative contracts, net | 334,382 |  |  | 225,076 |  |  |
Cash surrender value of bank-owned life insurance | 413,682 |  |  | 412,278 |  |  |
Receivable on unsettled securities sales | 98,526 |  |  | 14,673 |  |  |
Other assets | 982,169 |  |  | 1,271,568 |  |  |
Total assets | $ | 50,081,985 |  |  | $ | 50,403,457 |  |  |
Liabilities |  |  |  |  |
Deposits: |  |  |  |  |
Demand | $ | 8,260,244 |  |  | $ | 8,840,178 |  |  |
Interest-bearing transaction | 24,312,211 |  |  | 23,107,042 |  |  |
Savings | 816,707 |  |  | 830,489 |  |  |
Time | 3,837,956 |  |  | 3,463,935 |  |  |
Total deposits | 37,227,118 |  |  | 36,241,644 |  |  |
Funds purchased and repurchase agreements | 743,903 |  |  | 813,758 |  |  |
Other borrowings | 4,729,880 |  |  | 6,528,538 |  |  |
Subordinated debentures | 131,188 |  |  | 131,156 |  |  |
Accrued interest, taxes and expense | 340,290 |  |  | 305,839 |  |  |
Due on unsettled securities purchases | 377,240 |  |  | 347,663 |  |  |
Derivative contracts, net | 402,559 |  |  | 287,509 |  |  |
Other liabilities | 514,609 |  |  | 515,380 |  |  |
Total liabilities | 44,466,787 |  |  | 45,171,487 |  |  |
Shareholders' equity |  |  |  |  |
Capital, surplus and retained earnings | 5,947,732 |  |  | 5,834,632 |  |  |
Accumulated other comprehensive loss | (335,289) |  |  | (605,502) |  |  |
Total shareholders’ equity | 5,612,443 |  |  | 5,229,130 |  |  |
Non-controlling interests | 2,755 |  |  | 2,840 |  |  |
Total equity | 5,615,198 |  |  | 5,231,970 |  |  |
Total liabilities and equity | $ | 50,081,985 |  |  | $ | 50,403,457 |  |  |

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, 2024 |  | June 30, 2024 |  | Mar. 31, 2024 |  | Dec. 31, 2023 |  | Sep. 30, 2023
Assets |  |  |  |  |  |  |  |  |
Interest-bearing cash and cash equivalents | $ | 531,811 |  |  | $ | 533,760 |  |  | $ | 567,680 |  |  | $ | 605,839 |  |  | $ | 598,734 |
Trading securities | 5,802,448 |  |  | 5,922,891 |  |  | 5,371,209 |  |  | 5,448,403 |  |  | 5,444,587 |
Investment securities, net of allowance | 2,094,408 |  |  | 2,151,079 |  |  | 2,210,040 |  |  | 2,264,194 |  |  | 2,331,595 |
Available for sale securities | 12,939,422 |  |  | 12,755,865 |  |  | 12,537,981 |  |  | 12,063,398 |  |  | 11,925,800 |
Fair value option securities | 19,095 |  |  | 19,170 |  |  | 20,080 |  |  | 20,086 |  |  | 41,741 |
Restricted equity securities | 410,800 |  |  | 453,303 |  |  | 412,376 |  |  | 432,780 |  |  | 445,532 |
Residential mortgage loans held for sale | 95,742 |  |  | 81,371 |  |  | 57,402 |  |  | 61,146 |  |  | 77,208 |
Loans: |  |  |  |  |  |  |  |  |
Commercial | 15,076,308 |  |  | 15,516,238 |  |  | 14,992,639 |  |  | 14,680,001 |  |  | 14,527,676 |
Commercial real estate | 5,257,842 |  |  | 5,048,704 |  |  | 5,188,152 |  |  | 5,293,021 |  |  | 5,172,876 |
Loans to individuals | 3,970,734 |  |  | 3,820,211 |  |  | 3,767,776 |  |  | 3,732,086 |  |  | 3,713,756 |
Total loans | 24,304,884 |  |  | 24,385,153 |  |  | 23,948,567 |  |  | 23,705,108 |  |  | 23,414,308 |
Allowance for loan losses | (287,227) |  |  | (283,246) |  |  | (278,449) |  |  | (273,717) |  |  | (267,205) |
Loans, net of allowance | 24,017,657 |  |  | 24,101,907 |  |  | 23,670,118 |  |  | 23,431,391 |  |  | 23,147,103 |
Total earning assets | 45,911,383 |  |  | 46,019,346 |  |  | 44,846,886 |  |  | 44,327,237 |  |  | 44,012,300 |
Cash and due from banks | 884,053 |  |  | 871,171 |  |  | 861,319 |  |  | 883,858 |  |  | 799,291 |
Derivative contracts, net | 294,276 |  |  | 273,052 |  |  | 326,564 |  |  | 372,789 |  |  | 412,707 |
Cash surrender value of bank-owned life insurance | 412,945 |  |  | 410,679 |  |  | 409,230 |  |  | 407,665 |  |  | 408,295 |
Receivable on unsettled securities sales | 216,158 |  |  | 171,344 |  |  | 307,389 |  |  | 276,856 |  |  | 268,344 |
Other assets | 3,438,220 |  |  | 3,449,607 |  |  | 3,276,184 |  |  | 3,445,265 |  |  | 3,418,615 |
Total assets | $ | 51,157,035 |  |  | $ | 51,195,199 |  |  | $ | 50,027,572 |  |  | $ | 49,713,670 |  |  | $ | 49,319,552 |
Liabilities |  |  |  |  |  |  |  |  |
Deposits: |  |  |  |  |  |  |  |  |
Demand | $ | 8,273,656 |  |  | $ | 8,386,979 |  |  | $ | 8,631,416 |  |  | $ | 9,378,886 |  |  | $ | 10,157,821 |
Interest-bearing transaction | 23,986,697 |  |  | 23,006,204 |  |  | 22,264,259 |  |  | 20,449,370 |  |  | 19,415,599 |
Savings | 820,980 |  |  | 832,704 |  |  | 843,037 |  |  | 845,705 |  |  | 874,530 |
Time | 3,678,964 |  |  | 3,427,336 |  |  | 3,287,179 |  |  | 3,002,252 |  |  | 2,839,947 |
Total deposits | 36,760,297 |  |  | 35,653,223 |  |  | 35,025,891 |  |  | 33,676,213 |  |  | 33,287,897 |
Funds purchased and repurchase agreements | 1,016,688 |  |  | 1,838,323 |  |  | 1,258,044 |  |  | 2,476,973 |  |  | 2,699,027 |
Other borrowings | 6,366,046 |  |  | 7,151,228 |  |  | 6,844,633 |  |  | 7,120,963 |  |  | 6,968,309 |
Subordinated debentures | 131,155 |  |  | 131,156 |  |  | 131,154 |  |  | 131,151 |  |  | 131,151 |
Derivative contracts, net | 466,271 |  |  | 380,942 |  |  | 537,993 |  |  | 524,101 |  |  | 429,989 |
Due on unsettled securities purchases | 348,585 |  |  | 351,199 |  |  | 499,936 |  |  | 363,358 |  |  | 435,927 |
Other liabilities | 618,187 |  |  | 539,485 |  |  | 574,954 |  |  | 483,934 |  |  | 461,686 |
Total liabilities | 45,707,229 |  |  | 46,045,556 |  |  | 44,872,605 |  |  | 44,776,693 |  |  | 44,413,986 |
Total equity | 5,449,806 |  |  | 5,149,643 |  |  | 5,154,967 |  |  | 4,936,977 |  |  | 4,905,566 |
Total liabilities and equity | $ | 51,157,035 |  |  | $ | 51,195,199 |  |  | $ | 50,027,572 |  |  | $ | 49,713,670 |  |  | $ | 49,319,552 |

11

BOK Financial Corporation quarterly earnings release | Exhibit 99.1(b)

STATEMENTS OF EARNINGS – UNAUDITED
BOK FINANCIAL CORPORATION

| Three Months Ended |  | Nine Months Ended
| September 30, |  | September 30,
(In thousands, except per share data) | 2024 |  | 2023 |  | 2024 |  | 2023
Interest revenue | $ | 680,310 |  |  | $ | 617,044 |  |  | $ | 1,997,339 |  |  | $ | 1,704,140 |
Interest expense | 372,191 |  |  | 316,148 |  |  | 1,099,627 |  |  | 728,635 |
Net interest income | 308,119 |  |  | 300,896 |  |  | 897,712 |  |  | 975,505 |
Provision for credit losses | 2,000 |  |  | 7,000 |  |  | 18,000 |  |  | 40,000 |
Net interest income after provision for credit losses | 306,119 |  |  | 293,896 |  |  | 879,712 |  |  | 935,505 |
Other operating revenue: |  |  |  |  |  |  |
Brokerage and trading revenue | 50,391 |  |  | 62,312 |  |  | 162,587 |  |  | 179,714 |
Transaction card revenue | 28,495 |  |  | 26,387 |  |  | 81,234 |  |  | 78,011 |
Fiduciary and asset management revenue | 57,384 |  |  | 52,256 |  |  | 170,265 |  |  | 155,910 |
Deposit service charges and fees | 30,450 |  |  | 27,676 |  |  | 88,707 |  |  | 80,744 |
Mortgage banking revenue | 18,372 |  |  | 13,356 |  |  | 55,967 |  |  | 42,864 |
Other revenue | 17,402 |  |  | 15,865 |  |  | 44,325 |  |  | 47,085 |
Total fees and commissions | 202,494 |  |  | 197,852 |  |  | 603,085 |  |  | 584,328 |
Other gains, net | 13,087 |  |  | 1,474 |  |  | 74,731 |  |  | 16,343 |
Gain (loss) on derivatives, net | 8,991 |  |  | (9,010) |  |  | (733) |  |  | (18,513) |
Gain (loss) on fair value option securities, net | 764 |  |  | (203) |  |  | 365 |  |  | (5,323) |
Change in fair value of mortgage servicing rights | (16,453) |  |  | 8,039 |  |  | (2,023) |  |  | 11,241 |
Loss on available for sale securities, net | (691) |  |  | — |  |  | (45,828) |  |  | (3,010) |
Total other operating revenue | 208,192 |  |  | 198,152 |  |  | 629,597 |  |  | 585,066 |
Other operating expense: |  |  |  |  |  |  |
Personnel | 206,821 |  |  | 190,791 |  |  | 600,564 |  |  | 563,588 |
Business promotion | 7,681 |  |  | 6,958 |  |  | 23,909 |  |  | 23,167 |
Charitable contributions to BOKF Foundation | — |  |  | 23 |  |  | 13,610 |  |  | 1,165 |
Professional fees and services | 13,405 |  |  | 13,224 |  |  | 38,746 |  |  | 39,049 |
Net occupancy and equipment | 32,077 |  |  | 32,583 |  |  | 92,615 |  |  | 91,147 |
FDIC and other insurance | 8,186 |  |  | 7,996 |  |  | 24,243 |  |  | 22,285 |
FDIC special assessment | (1,437) |  |  | — |  |  | 6,207 |  |  | — |
Data processing and communications | 47,554 |  |  | 45,672 |  |  | 139,249 |  |  | 135,781 |
Printing, postage and supplies | 3,594 |  |  | 3,760 |  |  | 11,380 |  |  | 11,381 |
Amortization of intangible assets | 2,856 |  |  | 3,474 |  |  | 8,757 |  |  | 10,339 |
Mortgage banking costs | 9,059 |  |  | 8,357 |  |  | 23,946 |  |  | 22,439 |
Other expense | 11,229 |  |  | 11,475 |  |  | 34,873 |  |  | 28,457 |
Total other operating expense | 341,025 |  |  | 324,313 |  |  | 1,018,099 |  |  | 948,798 |
Net income before taxes | 173,286 |  |  | 167,735 |  |  | 491,210 |  |  | 571,773 |
Federal and state income taxes | 33,313 |  |  | 33,256 |  |  | 103,811 |  |  | 123,162 |
Net income | 139,973 |  |  | 134,479 |  |  | 387,399 |  |  | 448,611 |
Net income (loss) attributable to non-controlling interests | (26) |  |  | (16) |  |  | (16) |  |  | 440 |
Net income attributable to BOK Financial Corporation shareholders | $ | 139,999 |  |  | $ | 134,495 |  |  | $ | 387,415 |  |  | $ | 448,171 |
Average shares outstanding: |  |  |  |  |  |  |
Basic | 63,489,581 |  |  | 65,548,307 |  |  | 63,830,188 |  |  | 65,955,294 |
Diluted | 63,489,581 |  |  | 65,548,307 |  |  | 63,830,188 |  |  | 65,955,294 |
Net income per share: |  |  |  |  |  |  |
Basic | $ | 2.18 |  |  | $ | 2.04 |  |  | $ | 6.01 |  |  | $ | 6.74 |
Diluted | $ | 2.18 |  |  | $ | 2.04 |  |  | $ | 6.01 |  |  | $ | 6.74 |

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 and per share data) | Sep. 30, 2024 |  | June 30, 2024 |  | Mar. 31, 2024 |  | Dec. 31, 2023 |  | Sep. 30, 2023
Interest revenue | $ | 680,310 |  |  | $ | 671,817 |  |  | $ | 645,212 |  |  | $ | 638,324 |  |  | $ | 617,044 |
Interest expense | 372,191 |  |  | 375,796 |  |  | 351,640 |  |  | 341,649 |  |  | 316,148 |
Net interest income | 308,119 |  |  | 296,021 |  |  | 293,572 |  |  | 296,675 |  |  | 300,896 |
Provision for credit losses | 2,000 |  |  | 8,000 |  |  | 8,000 |  |  | 6,000 |  |  | 7,000 |
Net interest income after provision for credit losses | 306,119 |  |  | 288,021 |  |  | 285,572 |  |  | 290,675 |  |  | 293,896 |
Other operating revenue: |  |  |  |  |  |  |  |  |
Brokerage and trading revenue | 50,391 |  |  | 53,017 |  |  | 59,179 |  |  | 60,896 |  |  | 62,312 |
Transaction card revenue | 28,495 |  |  | 27,246 |  |  | 25,493 |  |  | 28,847 |  |  | 26,387 |
Fiduciary and asset management revenue | 57,384 |  |  | 57,576 |  |  | 55,305 |  |  | 51,408 |  |  | 52,256 |
Deposit service charges and fees | 30,450 |  |  | 29,572 |  |  | 28,685 |  |  | 27,770 |  |  | 27,676 |
Mortgage banking revenue | 18,372 |  |  | 18,628 |  |  | 18,967 |  |  | 12,834 |  |  | 13,356 |
Other revenue | 17,402 |  |  | 13,988 |  |  | 12,935 |  |  | 15,035 |  |  | 15,865 |
Total fees and commissions | 202,494 |  |  | 200,027 |  |  | 200,564 |  |  | 196,790 |  |  | 197,852 |
Other gains, net | 13,087 |  |  | 57,375 |  |  | 4,269 |  |  | 40,452 |  |  | 1,474 |
Gain (loss) on derivatives, net | 8,991 |  |  | (1,091) |  |  | (8,633) |  |  | 8,592 |  |  | (9,010) |
Gain (loss) on fair value option securities, net | 764 |  |  | (94) |  |  | (305) |  |  | 1,031 |  |  | (203) |
Change in fair value of mortgage servicing rights | (16,453) |  |  | 3,453 |  |  | 10,977 |  |  | (14,356) |  |  | 8,039 |
Gain (loss) on available for sale securities, net | (691) |  |  | 34 |  |  | (45,171) |  |  | (27,626) |  |  | — |
Total other operating revenue | 208,192 |  |  | 259,704 |  |  | 161,701 |  |  | 204,883 |  |  | 198,152 |
Other operating expense: |  |  |  |  |  |  |  |  |
Personnel | 206,821 |  |  | 191,090 |  |  | 202,653 |  |  | 203,022 |  |  | 190,791 |
Business promotion | 7,681 |  |  | 8,250 |  |  | 7,978 |  |  | 8,629 |  |  | 6,958 |
Charitable contributions to BOKF Foundation | — |  |  | 13,610 |  |  | — |  |  | 1,542 |  |  | 23 |
Professional fees and services | 13,405 |  |  | 13,331 |  |  | 12,010 |  |  | 16,288 |  |  | 13,224 |
Net occupancy and equipment | 32,077 |  |  | 30,245 |  |  | 30,293 |  |  | 30,355 |  |  | 32,583 |
FDIC and other insurance | 8,186 |  |  | 7,317 |  |  | 8,740 |  |  | 8,495 |  |  | 7,996 |
FDIC special assessment | (1,437) |  |  | 1,190 |  |  | 6,454 |  |  | 43,773 |  |  | — |
Data processing and communications | 47,554 |  |  | 46,131 |  |  | 45,564 |  |  | 45,584 |  |  | 45,672 |
Printing, postage and supplies | 3,594 |  |  | 3,789 |  |  | 3,997 |  |  | 3,844 |  |  | 3,760 |
Amortization of intangible assets | 2,856 |  |  | 2,898 |  |  | 3,003 |  |  | 3,543 |  |  | 3,474 |
Mortgage banking costs | 9,059 |  |  | 8,532 |  |  | 6,355 |  |  | 8,085 |  |  | 8,357 |
Other expense | 11,229 |  |  | 10,307 |  |  | 13,337 |  |  | 10,923 |  |  | 11,475 |
Total other operating expense | 341,025 |  |  | 336,690 |  |  | 340,384 |  |  | 384,083 |  |  | 324,313 |
Net income before taxes | 173,286 |  |  | 211,035 |  |  | 106,889 |  |  | 111,475 |  |  | 167,735 |
Federal and state income taxes | 33,313 |  |  | 47,303 |  |  | 23,195 |  |  | 28,953 |  |  | 33,256 |
Net income | 139,973 |  |  | 163,732 |  |  | 83,694 |  |  | 82,522 |  |  | 134,479 |
Net income (loss) attributable to non-controlling interests | (26) |  |  | 19 |  |  | (9) |  |  | (53) |  |  | (16) |
Net income attributable to BOK Financial Corporation shareholders | $ | 139,999 |  |  | $ | 163,713 |  |  | $ | 83,703 |  |  | $ | 82,575 |  |  | $ | 134,495 |
Average shares outstanding: |  |  |  |  |  |  |  |  |
Basic | 63,489,581 |  |  | 63,714,204 |  |  | 64,290,105 |  |  | 64,750,171 |  |  | 65,548,307 |
Diluted | 63,489,581 |  |  | 63,714,204 |  |  | 64,290,105 |  |  | 64,750,171 |  |  | 65,548,307 |
Net income per share: |  |  |  |  |  |  |  |  |
Basic | $ | 2.18 |  |  | $ | 2.54 |  |  | $ | 1.29 |  |  | $ | 1.26 |  |  | $ | 2.04 |
Diluted | $ | 2.18 |  |  | $ | 2.54 |  |  | $ | 1.29 |  |  | $ | 1.26 |  |  | $ | 2.04 |

13

BOK Financial Corporation quarterly earnings release | Exhibit 99.1(b)

FINANCIAL HIGHLIGHTS – UNAUDITED
BOK FINANCIAL CORPORATION

| Three Months Ended
(In thousands, except ratio and share data) | Sep. 30, 2024 |  | June 30, 2024 |  | Mar. 31, 2024 |  | Dec. 31, 2023 |  | Sep. 30, 2023
Capital: |  |  |  |  |  |  |  |  |
Period end shareholders' equity | $ | 5,612,443 |  |  | $ | 5,229,130 |  |  | $ | 5,128,751 |  |  | $ | 5,142,442 |  |  | $ | 4,814,019 |
Risk weighted assets | $ | 38,365,133 |  |  | $ | 39,405,794 |  |  | $ | 38,952,555 |  |  | $ | 38,820,979 |  |  | $ | 38,791,023 |
Risk-based capital ratios: |  |  |  |  |  |  |  |  |
Common equity Tier 1 | 12.73 | % |  | 12.10 | % |  | 11.99 | % |  | 12.06 | % |  | 12.06 | %
Tier 1 | 12.74 | % |  | 12.11 | % |  | 12.00 | % |  | 12.07 | % |  | 12.07 | %
Total capital | 13.91 | % |  | 13.25 | % |  | 13.15 | % |  | 13.16 | % |  | 13.16 | %
Leverage ratio | 9.67 | % |  | 9.39 | % |  | 9.42 | % |  | 9.45 | % |  | 9.52 | %
Tangible common equity ratio 1 | 9.22 | % |  | 8.38 | % |  | 8.21 | % |  | 8.29 | % |  | 7.74 | %
Adjusted tangible common equity ratio 1 | 9.01 | % |  | 8.06 | % |  | 7.92 | % |  | 8.02 | % |  | 7.35 | %
Common stock: |  |  |  |  |  |  |  |  |
Book value per share | $ | 87.53 |  |  | $ | 81.54 |  |  | $ | 79.50 |  |  | $ | 79.15 |  |  | $ | 73.31 |
Tangible book value per share | $ | 70.44 |  |  | $ | 64.41 |  |  | $ | 62.42 |  |  | $ | 62.15 |  |  | $ | 56.40 |
Market value per share: |  |  |  |  |  |  |  |  |
High | $ | 108.01 |  |  | $ | 96.41 |  |  | $ | 92.08 |  |  | $ | 87.52 |  |  | $ | 92.41 |
Low | $ | 86.43 |  |  | $ | 85.02 |  |  | $ | 77.86 |  |  | $ | 62.42 |  |  | $ | 77.61 |
Cash dividends paid | $ | 35,147 |  |  | $ | 35,288 |  |  | $ | 35,568 |  |  | $ | 35,739 |  |  | $ | 35,655 |
Dividend payout ratio | 25.11 | % |  | 21.55 | % |  | 42.49 | % |  | 43.28 | % |  | 26.51 | %
Shares outstanding, net | 64,118,417 |  |  | 64,127,824 |  |  | 64,515,035 |  |  | 64,967,177 |  |  | 65,664,840 |
Stock buy-back program: |  |  |  |  |  |  |  |  |
Shares repurchased | — |  |  | 412,176 |  |  | 616,630 |  |  | 700,237 |  |  | 700,500 |
Amount | $ | — |  |  | $ | 37,253 |  |  | $ | 51,727 |  |  | $ | 49,710 |  |  | $ | 58,961 |
Average price paid per share 2 | $ | — |  |  | $ | 90.38 |  |  | $ | 83.89 |  |  | $ | 70.99 |  |  | $ | 84.17 |
Performance ratios (quarter annualized):
Return on average assets | 1.09 | % |  | 1.29 | % |  | 0.67 | % |  | 0.66 | % |  | 1.08 | %
Return on average equity | 10.22 | % |  | 12.79 | % |  | 6.53 | % |  | 6.64 | % |  | 10.88 | %
Return on average tangible common equity 1 | 12.80 | % |  | 16.27 | % |  | 8.31 | % |  | 8.56 | % |  | 14.08 | %
Net interest margin | 2.68 | % |  | 2.56 | % |  | 2.61 | % |  | 2.64 | % |  | 2.69 | %
Efficiency ratio 1 | 65.11 | % |  | 59.83 | % |  | 67.13 | % |  | 71.62 | % |  | 64.01 | %
Other data: |  |  |  |  |  |  |  |  |
Tax equivalent interest | $ | 2,385 |  |  | $ | 2,196 |  |  | $ | 2,100 |  |  | $ | 2,112 |  |  | $ | 2,214 |
Net unrealized loss on available for sale securities | $ | (307,360) |  |  | $ | (649,236) |  |  | $ | (643,259) |  |  | $ | (616,624) |  |  | $ | (1,034,520) |

14

BOK Financial Corporation quarterly earnings release | Exhibit 99.1(b)

| Three Months Ended
(In thousands, except ratio and share data) | Sep. 30, 2024 |  | June 30, 2024 |  | Mar. 31, 2024 |  | Dec. 31, 2023 |  | Sep. 30, 2023
Mortgage banking: |  |  |  |  |  |  |  |  |
Mortgage production revenue | $ | 1,563 |  |  | $ | 2,369 |  |  | $ | 3,525 |  |  | $ | (2,535) |  |  | $ | (1,887) |
Mortgage loans funded for sale | $ | 224,749 |  |  | $ | 240,038 |  |  | $ | 139,176 |  |  | $ | 139,255 |  |  | $ | 173,727 |
Add: Current period end outstanding commitments | 70,102 |  |  | 62,960 |  |  | 67,951 |  |  | 34,783 |  |  | 49,284 |
Less: Prior period end outstanding commitments | 62,960 |  |  | 67,951 |  |  | 34,783 |  |  | 49,284 |  |  | 55,031 |
Total mortgage production volume | $ | 231,891 |  |  | $ | 235,047 |  |  | $ | 172,344 |  |  | $ | 124,754 |  |  | $ | 167,980 |
Mortgage loan refinances to mortgage loans funded for sale | 11 | % |  | 7 | % |  | 10 | % |  | 10 | % |  | 9 | %
Realized margin on funded mortgage loans | 0.93 | % |  | 0.97 | % |  | 1.46 | % |  | (0.98) | % |  | (0.94) | %
Production revenue as a percentage of production volume | 0.67 | % |  | 1.01 | % |  | 2.05 | % |  | (2.03) | % |  | (1.12) | %
Mortgage servicing revenue | $ | 16,809 |  |  | $ | 16,259 |  |  | $ | 15,442 |  |  | $ | 15,369 |  |  | $ | 15,243 |
Average outstanding principal balance of mortgage loans serviced for others | $ | 22,212,755 |  |  | $ | 22,287,559 |  |  | $ | 21,088,898 |  |  | $ | 20,471,030 |  |  | $ | 20,719,116 |
Average mortgage servicing revenue rates | 0.30 | % |  | 0.29 | % |  | 0.29 | % |  | 0.30 | % |  | 0.29 | %
Gain (loss) on mortgage servicing rights, net of economic hedge:
Gain (loss) on mortgage hedge derivative contracts, net | $ | 11,357 |  |  | $ | (3,484) |  |  | $ | (9,357) |  |  | $ | 8,275 |  |  | $ | (8,980) |
Gain (loss) on fair value option securities, net | 764 |  |  | (94) |  |  | (305) |  |  | 1,031 |  |  | (203) |
Gain (loss) on economic hedge of mortgage servicing rights | 12,121 |  |  | (3,578) |  |  | (9,662) |  |  | 9,306 |  |  | (9,183) |
Change in fair value of mortgage servicing rights | (16,453) |  |  | 3,453 |  |  | 10,977 |  |  | (14,356) |  |  | 8,039 |
Gain (loss) on changes in fair value of mortgage servicing rights, net of economic hedges, included in other operating revenue | (4,332) |  |  | (125) |  |  | 1,315 |  |  | (5,050) |  |  | (1,144) |
Net interest expense on fair value option securities 3 | (146) |  |  | (96) |  |  | (155) |  |  | (101) |  |  | (112) |
Total economic benefit (cost) of changes in the fair value of mortgage servicing rights, net of economic hedges | $ | (4,478) |  |  | $ | (221) |  |  | $ | 1,160 |  |  | $ | (5,151) |  |  | $ | (1,256) |

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, 2024 |  | June 30, 2024 |  | Mar. 31, 2024 |  | Dec. 31, 2023 |  | Sep. 30, 2023
Reconciliation of tangible common equity ratio and adjusted tangible common equity ratio:
Total shareholders' equity | $ | 5,612,443 |  |  | $ | 5,229,130 |  |  | $ | 5,128,751 |  |  | $ | 5,142,442 |  |  | $ | 4,814,019 |
Less: Goodwill and intangible assets, net | 1,095,954 |  |  | 1,098,777 |  |  | 1,101,643 |  |  | 1,104,728 |  |  | 1,110,553 |
Tangible common equity | 4,516,489 |  |  | 4,130,353 |  |  | 4,027,108 |  |  | 4,037,714 |  |  | 3,703,466 |
Add: Unrealized loss on investment securities, net | (132,192) |  |  | (204,636) |  |  | (185,978) |  |  | (171,903) |  |  | (246,395) |
Add: Tax effect on unrealized loss on investment securities, net | 31,090 |  |  | 48,128 |  |  | 43,740 |  |  | 40,430 |  |  | 57,949 |
Adjusted tangible common equity | $ | 4,415,387 |  |  | $ | 3,973,845 |  |  | $ | 3,884,870 |  |  | $ | 3,906,241 |  |  | $ | 3,515,020 |
Total assets | $ | 50,081,985 |  |  | $ | 50,403,457 |  |  | $ | 50,160,380 |  |  | $ | 49,824,830 |  |  | $ | 48,931,397 |
Less: Goodwill and intangible assets, net | 1,095,954 |  |  | 1,098,777 |  |  | 1,101,643 |  |  | 1,104,728 |  |  | 1,110,553 |
Tangible assets | $ | 48,986,031 |  |  | $ | 49,304,680 |  |  | $ | 49,058,737 |  |  | $ | 48,720,102 |  |  | $ | 47,820,844 |
Tangible common equity ratio | 9.22 | % |  | 8.38 | % |  | 8.21 | % |  | 8.29 | % |  | 7.74 | %
Adjusted tangible common equity ratio | 9.01 | % |  | 8.06 | % |  | 7.92 | % |  | 8.02 | % |  | 7.35 | %
Reconciliation of return on average tangible common equity:
Total average shareholders' equity | $ | 5,446,998 |  |  | $ | 5,146,785 |  |  | $ | 5,152,061 |  |  | $ | 4,933,917 |  |  | $ | 4,902,119 |
Less: Average goodwill and intangible assets, net | 1,097,317 |  |  | 1,100,139 |  |  | 1,103,090 |  |  | 1,107,949 |  |  | 1,112,217 |
Average tangible common equity | $ | 4,349,681 |  |  | $ | 4,046,646 |  |  | $ | 4,048,971 |  |  | $ | 3,825,968 |  |  | $ | 3,789,902 |
Net income | $ | 139,999 |  |  | $ | 163,713 |  |  | $ | 83,703 |  |  | $ | 82,575 |  |  | $ | 134,495 |
Return on average tangible common equity | 12.80 | % |  | 16.27 | % |  | 8.31 | % |  | 8.56 | % |  | 14.08 | %
Reconciliation of pre-provision net revenue:
Net income before taxes | $ | 173,286 |  |  | $ | 211,035 |  |  | $ | 106,889 |  |  | $ | 111,475 |  |  | $ | 167,735 |
Add: Provision for expected credit losses | 2,000 |  |  | 8,000 |  |  | 8,000 |  |  | 6,000 |  |  | 7,000 |
Less: Net income (loss) attributable to non-controlling interests | (26) |  |  | 19 |  |  | (9) |  |  | (53) |  |  | (16) |
Pre-provision net revenue | $ | 175,312 |  |  | $ | 219,016 |  |  | $ | 114,898 |  |  | $ | 117,528 |  |  | $ | 174,751 |
Calculation of efficiency ratio:
Total other operating expense | $ | 341,025 |  |  | $ | 336,690 |  |  | $ | 340,384 |  |  | $ | 384,083 |  |  | $ | 324,313 |
Less: Amortization of intangible assets | 2,856 |  |  | 2,898 |  |  | 3,003 |  |  | 3,543 |  |  | 3,474 |
Numerator for efficiency ratio | $ | 338,169 |  |  | $ | 333,792 |  |  | $ | 337,381 |  |  | $ | 380,540 |  |  | $ | 320,839 |
Net interest income | $ | 308,119 |  |  | $ | 296,021 |  |  | $ | 293,572 |  |  | $ | 296,675 |  |  | $ | 300,896 |
Tax-equivalent adjustment | 2,385 |  |  | 2,196 |  |  | 2,100 |  |  | 2,112 |  |  | 2,214 |
Tax-equivalent net interest income | 310,504 |  |  | 298,217 |  |  | 295,672 |  |  | 298,787 |  |  | 303,110 |
Total other operating revenue | 208,192 |  |  | 259,704 |  |  | 161,701 |  |  | 204,883 |  |  | 198,152 |
Less: Gain (loss) on available for sale securities, net | (691) |  |  | 34 |  |  | (45,171) |  |  | (27,626) |  |  | — |
Denominator for efficiency ratio | $ | 519,387 |  |  | $ | 557,887 |  |  | $ | 502,544 |  |  | $ | 531,296 |  |  | $ | 501,262 |
Efficiency ratio | 65.11 | % |  | 59.83 | % |  | 67.13 | % |  | 71.62 | % |  | 64.01 | %

16

BOK Financial Corporation quarterly earnings release | Exhibit 99.1(b)

| Three Months Ended
(In thousands, except ratio and share data) | Sep. 30, 2024 |  | June 30, 2024 |  | Mar. 31, 2024 |  | Dec. 31, 2023 |  | Sep. 30, 2023
Information on net interest income and net interest margin excluding trading activities:
Net interest income | $ | 308,119 |  |  | $ | 296,021 |  |  | $ | 293,572 |  |  | $ | 296,675 |  |  | $ | 300,896 |
Less: Trading activities net interest income | 3,751 |  |  | (275) |  |  | (498) |  |  | (3,305) |  |  | (7,343) |
Net interest income excluding trading activities | 304,368 |  |  | 296,296 |  |  | 294,070 |  |  | 299,980 |  |  | 308,239 |
Tax-equivalent adjustment | 2,385 |  |  | 2,196 |  |  | 2,100 |  |  | 2,112 |  |  | 2,214 |
Tax-equivalent net interest income excluding trading activities | $ | 306,753 |  |  | $ | 298,492 |  |  | $ | 296,170 |  |  | $ | 302,092 |  |  | $ | 310,453 |
Average interest-earning assets | $ | 45,911,383 |  |  | $ | 46,019,346 |  |  | $ | 44,846,886 |  |  | $ | 44,327,237 |  |  | $ | 44,012,300 |
Less: Average trading activities interest-earning assets | 5,802,448 |  |  | 5,922,891 |  |  | 5,371,209 |  |  | 5,448,403 |  |  | 5,444,587 |
Average interest-earning assets excluding trading activities | $ | 40,108,935 |  |  | $ | 40,096,455 |  |  | $ | 39,475,677 |  |  | $ | 38,878,834 |  |  | $ | 38,567,713 |
Net interest margin on average interest-earning assets | 2.68 | % |  | 2.56 | % |  | 2.61 | % |  | 2.64 | % |  | 2.69 | %
Net interest margin on average trading activities interest-earning assets | 0.29 | % |  | (0.05) | % |  | (0.07) | % |  | (0.20) | % |  | (0.49) | %
Net interest margin on average interest-earning assets excluding trading activities | 3.02 | % |  | 2.94 | % |  | 2.97 | % |  | 3.03 | % |  | 3.14 | %

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. The adjusted tangible common equity ratio also includes unrealized gains and losses on the investment portfolio. 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.
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.
The efficiency ratio measures the company's ability to use its assets and manage its liabilities effectively in the current period.
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, 2024 |  | June 30, 2024 |  | Mar. 31, 2024 |  | Dec. 31, 2023 |  | Sep. 30, 2023
Commercial: |  |  |  |  |  |  |  |  |
Healthcare | $ | 4,149,069 |  |  | $ | 4,231,058 |  |  | $ | 4,245,939 |  |  | $ | 4,143,233 |  |  | $ | 4,083,134 |
Services | 3,573,670 |  |  | 3,577,144 |  |  | 3,529,421 |  |  | 3,576,223 |  |  | 3,566,361 |
Energy | 3,126,635 |  |  | 3,451,485 |  |  | 3,443,719 |  |  | 3,437,101 |  |  | 3,490,602 |
General business | 4,028,548 |  |  | 4,363,722 |  |  | 3,913,788 |  |  | 3,647,212 |  |  | 3,579,742 |
Total commercial | 14,877,922 |  |  | 15,623,409 |  |  | 15,132,867 |  |  | 14,803,769 |  |  | 14,719,839 |
Commercial real estate: |  |  |  |  |  |  |  |  |
Multifamily | 2,109,445 |  |  | 1,997,282 |  |  | 1,960,839 |  |  | 1,872,760 |  |  | 1,734,688 |
Industrial | 1,270,928 |  |  | 1,214,991 |  |  | 1,343,970 |  |  | 1,475,165 |  |  | 1,432,629 |
Office | 815,966 |  |  | 876,897 |  |  | 901,105 |  |  | 909,442 |  |  | 981,876 |
Retail | 521,874 |  |  | 547,706 |  |  | 543,735 |  |  | 592,632 |  |  | 608,073 |
Residential construction and land development | 105,048 |  |  | 88,252 |  |  | 83,906 |  |  | 95,052 |  |  | 100,465 |
Other commercial real estate | 365,394 |  |  | 358,447 |  |  | 403,122 |  |  | 392,596 |  |  | 383,569 |
Total commercial real estate | 5,188,655 |  |  | 5,083,575 |  |  | 5,236,677 |  |  | 5,337,647 |  |  | 5,241,300 |
Loans to individuals: |  |  |  |  |  |  |  |  |
Residential mortgage | 2,370,293 |  |  | 2,281,226 |  |  | 2,192,584 |  |  | 2,160,640 |  |  | 2,090,992 |
Residential mortgages guaranteed by U.S. government agencies | 127,747 |  |  | 131,825 |  |  | 139,456 |  |  | 149,807 |  |  | 161,092 |
Personal | 1,420,444 |  |  | 1,433,546 |  |  | 1,470,976 |  |  | 1,453,105 |  |  | 1,510,795 |
Total loans to individuals | 3,918,484 |  |  | 3,846,597 |  |  | 3,803,016 |  |  | 3,763,552 |  |  | 3,762,879 |
Total | $ | 23,985,061 |  |  | $ | 24,553,581 |  |  | $ | 24,172,560 |  |  | $ | 23,904,968 |  |  | $ | 23,724,018 |

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, 2024 |  | June 30, 2024 |  | Mar. 31, 2024 |  | Dec. 31, 2023 |  | Sep. 30, 2023
Texas: |  |  |  |  |  |  |  |  |
Commercial | $ | 7,437,800 |  |  | $ | 7,879,143 |  |  | $ | 7,515,070 |  |  | $ | 7,384,107 |  |  | $ | 7,249,963 |
Commercial real estate | 1,816,276 |  |  | 1,754,087 |  |  | 1,935,728 |  |  | 1,987,037 |  |  | 1,873,477 |
Loans to individuals | 880,213 |  |  | 908,920 |  |  | 964,464 |  |  | 914,134 |  |  | 961,299 |
Total Texas | 10,134,289 |  |  | 10,542,150 |  |  | 10,415,262 |  |  | 10,285,278 |  |  | 10,084,739 |
Oklahoma: |  |  |  |  |  |  |  |  |
Commercial | 3,440,385 |  |  | 3,619,136 |  |  | 3,478,146 |  |  | 3,275,907 |  |  | 3,384,627 |
Commercial real estate | 557,025 |  |  | 556,971 |  |  | 605,419 |  |  | 606,515 |  |  | 601,087 |
Loans to individuals | 2,367,725 |  |  | 2,273,240 |  |  | 2,176,268 |  |  | 2,147,782 |  |  | 2,100,974 |
Total Oklahoma | 6,365,135 |  |  | 6,449,347 |  |  | 6,259,833 |  |  | 6,030,204 |  |  | 6,086,688 |
Colorado: |  |  |  |  |  |  |  |  |
Commercial | 2,175,540 |  |  | 2,220,887 |  |  | 2,244,416 |  |  | 2,273,179 |  |  | 2,219,460 |
Commercial real estate | 835,478 |  |  | 806,522 |  |  | 766,100 |  |  | 769,329 |  |  | 710,552 |
Loans to individuals | 216,938 |  |  | 217,990 |  |  | 221,291 |  |  | 228,257 |  |  | 227,569 |
Total Colorado | 3,227,956 |  |  | 3,245,399 |  |  | 3,231,807 |  |  | 3,270,765 |  |  | 3,157,581 |
Arizona: |  |  |  |  |  |  |  |  |
Commercial | 1,064,380 |  |  | 1,104,875 |  |  | 1,149,394 |  |  | 1,143,682 |  |  | 1,173,491 |
Commercial real estate | 1,115,928 |  |  | 1,045,837 |  |  | 1,007,972 |  |  | 1,003,331 |  |  | 1,014,151 |
Loans to individuals | 218,340 |  |  | 208,419 |  |  | 218,664 |  |  | 248,873 |  |  | 260,282 |
Total Arizona | 2,398,648 |  |  | 2,359,131 |  |  | 2,376,030 |  |  | 2,395,886 |  |  | 2,447,924 |
Kansas/Missouri: |  |  |  |  |  |  |  |  |
Commercial | 306,370 |  |  | 336,232 |  |  | 320,609 |  |  | 331,179 |  |  | 307,725 |
Commercial real estate | 438,424 |  |  | 482,249 |  |  | 497,036 |  |  | 511,947 |  |  | 547,708 |
Loans to individuals | 158,524 |  |  | 157,750 |  |  | 141,767 |  |  | 144,958 |  |  | 132,137 |
Total Kansas/Missouri | 903,318 |  |  | 976,231 |  |  | 959,412 |  |  | 988,084 |  |  | 987,570 |
New Mexico: |  |  |  |  |  |  |  |  |
Commercial | 324,605 |  |  | 318,711 |  |  | 317,651 |  |  | 291,736 |  |  | 297,714 |
Commercial real estate | 386,037 |  |  | 367,678 |  |  | 352,559 |  |  | 389,106 |  |  | 405,989 |
Loans to individuals | 64,511 |  |  | 67,747 |  |  | 67,814 |  |  | 67,485 |  |  | 69,418 |
Total New Mexico | 775,153 |  |  | 754,136 |  |  | 738,024 |  |  | 748,327 |  |  | 773,121 |
Arkansas: |  |  |  |  |  |  |  |  |
Commercial | 128,842 |  |  | 144,425 |  |  | 107,581 |  |  | 103,979 |  |  | 86,859 |
Commercial real estate | 39,487 |  |  | 70,231 |  |  | 71,863 |  |  | 70,382 |  |  | 88,336 |
Loans to individuals | 12,233 |  |  | 12,531 |  |  | 12,748 |  |  | 12,063 |  |  | 11,200 |
Total Arkansas | 180,562 |  |  | 227,187 |  |  | 192,192 |  |  | 186,424 |  |  | 186,395 |
Total BOK Financial | $ | 23,985,061 |  |  | $ | 24,553,581 |  |  | $ | 24,172,560 |  |  | $ | 23,904,968 |  |  | $ | 23,724,018 |

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, 2024 |  | June 30, 2024 |  | Mar. 31, 2024 |  | Dec. 31, 2023 |  | Sep. 30, 2023
Oklahoma: |  |  |  |  |  |  |  |  |
Demand | $ | 3,491,996 |  |  | $ | 3,721,009 |  |  | $ | 3,365,529 |  |  | $ | 3,586,091 |  |  | $ | 4,019,019 |
Interest-bearing: |  |  |  |  |  |  |  |  |
Transaction | 12,474,626 |  |  | 12,115,793 |  |  | 12,362,193 |  |  | 10,929,704 |  |  | 9,970,955 |
Savings | 490,957 |  |  | 496,289 |  |  | 509,775 |  |  | 500,313 |  |  | 508,619 |
Time | 2,462,463 |  |  | 2,157,778 |  |  | 2,136,583 |  |  | 1,984,336 |  |  | 2,019,749 |
Total interest-bearing | 15,428,046 |  |  | 14,769,860 |  |  | 15,008,551 |  |  | 13,414,353 |  |  | 12,499,323 |
Total Oklahoma | 18,920,042 |  |  | 18,490,869 |  |  | 18,374,080 |  |  | 17,000,444 |  |  | 16,518,342 |
Texas: |  |  |  |  |  |  |  |  |
Demand | 2,228,690 |  |  | 2,448,433 |  |  | 2,201,561 |  |  | 2,306,334 |  |  | 2,599,998 |
Interest-bearing: |  |  |  |  |  |  |  |  |
Transaction | 6,191,794 |  |  | 5,425,670 |  |  | 5,125,834 |  |  | 5,035,856 |  |  | 5,046,288 |
Savings | 152,392 |  |  | 150,812 |  |  | 157,108 |  |  | 155,652 |  |  | 154,863 |
Time | 648,796 |  |  | 626,724 |  |  | 605,526 |  |  | 492,753 |  |  | 436,218 |
Total interest-bearing | 6,992,982 |  |  | 6,203,206 |  |  | 5,888,468 |  |  | 5,684,261 |  |  | 5,637,369 |
Total Texas | 9,221,672 |  |  | 8,651,639 |  |  | 8,090,029 |  |  | 7,990,595 |  |  | 8,237,367 |
Colorado: |  |  |  |  |  |  |  |  |
Demand | 1,195,637 |  |  | 1,244,848 |  |  | 1,316,971 |  |  | 1,633,672 |  |  | 1,598,622 |
Interest-bearing: |  |  |  |  |  |  |  |  |
Transaction | 1,935,685 |  |  | 1,921,671 |  |  | 1,951,232 |  |  | 1,921,605 |  |  | 1,888,026 |
Savings | 56,275 |  |  | 61,184 |  |  | 63,675 |  |  | 67,646 |  |  | 63,129 |
Time | 279,887 |  |  | 261,237 |  |  | 237,656 |  |  | 201,393 |  |  | 185,030 |
Total interest-bearing | 2,271,847 |  |  | 2,244,092 |  |  | 2,252,563 |  |  | 2,190,644 |  |  | 2,136,185 |
Total Colorado | 3,467,484 |  |  | 3,488,940 |  |  | 3,569,534 |  |  | 3,824,316 |  |  | 3,734,807 |
New Mexico: |  |  |  |  |  |  |  |  |
Demand | 628,594 |  |  | 661,677 |  |  | 683,643 |  |  | 794,467 |  |  | 853,571 |
Interest-bearing: |  |  |  |  |  |  |  |  |
Transaction | 1,275,502 |  |  | 1,323,750 |  |  | 1,085,946 |  |  | 886,089 |  |  | 1,049,903 |
Savings | 90,867 |  |  | 92,910 |  |  | 95,944 |  |  | 95,453 |  |  | 97,753 |
Time | 336,830 |  |  | 314,133 |  |  | 298,556 |  |  | 258,195 |  |  | 217,535 |
Total interest-bearing | 1,703,199 |  |  | 1,730,793 |  |  | 1,480,446 |  |  | 1,239,737 |  |  | 1,365,191 |
Total New Mexico | 2,331,793 |  |  | 2,392,470 |  |  | 2,164,089 |  |  | 2,034,204 |  |  | 2,218,762 |
Arizona: |  |  |  |  |  |  |  |  |
Demand | 435,553 |  |  | 448,587 |  |  | 502,143 |  |  | 524,167 |  |  | 522,142 |
Interest-bearing: |  |  |  |  |  |  |  |  |
Transaction | 1,237,811 |  |  | 1,227,895 |  |  | 1,181,539 |  |  | 1,174,715 |  |  | 903,535 |
Savings | 11,228 |  |  | 11,542 |  |  | 12,024 |  |  | 11,636 |  |  | 12,340 |
Time | 59,508 |  |  | 56,102 |  |  | 46,962 |  |  | 41,884 |  |  | 36,689 |
Total interest-bearing | 1,308,547 |  |  | 1,295,539 |  |  | 1,240,525 |  |  | 1,228,235 |  |  | 952,564 |
Total Arizona | 1,744,100 |  |  | 1,744,126 |  |  | 1,742,668 |  |  | 1,752,402 |  |  | 1,474,706 |

20

BOK Financial Corporation quarterly earnings release | Exhibit 99.1(b)

(In thousands) | Sep. 30, 2024 |  | June 30, 2024 |  | Mar. 31, 2024 |  | Dec. 31, 2023 |  | Sep. 30, 2023
Kansas/Missouri: |  |  |  |  |  |  |  |  |
Demand | 255,950 |  |  | 291,045 |  |  | 316,041 |  |  | 326,496 |  |  | 351,236 |
Interest-bearing: |  |  |  |  |  |  |  |  |
Transaction | 1,134,544 |  |  | 1,040,114 |  |  | 985,706 |  |  | 966,166 |  |  | 981,091 |
Savings | 11,896 |  |  | 14,998 |  |  | 13,095 |  |  | 13,821 |  |  | 14,331 |
Time | 35,316 |  |  | 32,921 |  |  | 30,411 |  |  | 23,955 |  |  | 22,437 |
Total interest-bearing | 1,181,756 |  |  | 1,088,033 |  |  | 1,029,212 |  |  | 1,003,942 |  |  | 1,017,859 |
Total Kansas/Missouri | 1,437,706 |  |  | 1,379,078 |  |  | 1,345,253 |  |  | 1,330,438 |  |  | 1,369,095 |
Arkansas: |  |  |  |  |  |  |  |  |
Demand | 23,824 |  |  | 24,579 |  |  | 28,168 |  |  | 25,266 |  |  | 29,635 |
Interest-bearing: |  |  |  |  |  |  |  |  |
Transaction | 62,249 |  |  | 52,149 |  |  | 55,735 |  |  | 49,966 |  |  | 57,381 |
Savings | 3,092 |  |  | 2,754 |  |  | 2,776 |  |  | 2,564 |  |  | 2,898 |
Time | 15,156 |  |  | 15,040 |  |  | 11,215 |  |  | 9,506 |  |  | 9,559 |
Total interest-bearing | 80,497 |  |  | 69,943 |  |  | 69,726 |  |  | 62,036 |  |  | 69,838 |
Total Arkansas | 104,321 |  |  | 94,522 |  |  | 97,894 |  |  | 87,302 |  |  | 99,473 |
Total BOK Financial | $ | 37,227,118 |  |  | $ | 36,241,644 |  |  | $ | 35,383,547 |  |  | $ | 34,019,701 |  |  | $ | 33,652,552 |

21

BOK Financial Corporation quarterly earnings release | Exhibit 99.1(b)

NET INTEREST MARGIN TREND – UNAUDITED
BOK FINANCIAL CORPORATION

| Three Months Ended
| Sep. 30, 2024 |  | June 30, 2024 |  | Mar. 31, 2024 |  | Dec. 31, 2023 |  | Sep. 30, 2023
Tax-equivalent asset yields: |  |  |  |  |  |  |  |  |
Interest-bearing cash and cash equivalents | 5.33 | % |  | 5.86 | % |  | 4.96 | % |  | 5.30 | % |  | 5.43 | %
Trading securities | 5.36 | % |  | 5.06 | % |  | 5.12 | % |  | 5.05 | % |  | 4.76 | %
Investment securities, net of allowance | 1.41 | % |  | 1.41 | % |  | 1.42 | % |  | 1.42 | % |  | 1.43 | %
Available for sale securities | 3.76 | % |  | 3.71 | % |  | 3.48 | % |  | 3.27 | % |  | 3.11 | %
Fair value option securities | 3.69 | % |  | 3.68 | % |  | 3.59 | % |  | 3.57 | % |  | 4.61 | %
Restricted equity securities | 8.20 | % |  | 8.11 | % |  | 8.59 | % |  | 8.01 | % |  | 7.88 | %
Residential mortgage loans held for sale | 6.15 | % |  | 6.50 | % |  | 6.25 | % |  | 6.59 | % |  | 6.27 | %
Loans | 7.47 | % |  | 7.41 | % |  | 7.40 | % |  | 7.36 | % |  | 7.25 | %
Allowance for loan losses |  |  |  |  |  |  |  |  |
Loans, net of allowance | 7.55 | % |  | 7.49 | % |  | 7.48 | % |  | 7.45 | % |  | 7.33 | %
Total tax-equivalent yield on earning assets | 5.89 | % |  | 5.80 | % |  | 5.73 | % |  | 5.64 | % |  | 5.49 | %
Cost of interest-bearing liabilities: |  |  |  |  |  |  |  |
Interest-bearing deposits: |  |  |  |  |  |  |  |  |
Interest-bearing transaction | 3.78 | % |  | 3.76 | % |  | 3.68 | % |  | 3.44 | % |  | 3.18 | %
Savings | 0.60 | % |  | 0.58 | % |  | 0.57 | % |  | 0.53 | % |  | 0.47 | %
Time | 4.56 | % |  | 4.51 | % |  | 4.54 | % |  | 4.13 | % |  | 3.96 | %
Total interest-bearing deposits | 3.79 | % |  | 3.76 | % |  | 3.69 | % |  | 3.43 | % |  | 3.17 | %
Funds purchased and repurchase agreements | 3.89 | % |  | 4.28 | % |  | 4.05 | % |  | 4.79 | % |  | 4.81 | %
Other borrowings | 5.55 | % |  | 5.58 | % |  | 5.56 | % |  | 5.55 | % |  | 5.48 | %
Subordinated debt | 7.15 | % |  | 7.07 | % |  | 7.09 | % |  | 7.09 | % |  | 7.02 | %
Total cost of interest-bearing liabilities | 4.11 | % |  | 4.15 | % |  | 4.08 | % |  | 3.98 | % |  | 3.81 | %
Tax-equivalent net interest spread | 1.78 | % |  | 1.65 | % |  | 1.65 | % |  | 1.66 | % |  | 1.68 | %
Effect of noninterest-bearing funding sources and other | 0.90 | % |  | 0.91 | % |  | 0.96 | % |  | 0.98 | % |  | 1.01 | %
Tax-equivalent net interest margin | 2.68 | % |  | 2.56 | % |  | 2.61 | % |  | 2.64 | % |  | 2.69 | %

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, 2024 |  | June 30, 2024 |  | Mar. 31, 2024 |  | Dec. 31, 2023 |  | Sep. 30, 2023
Nonperforming assets: |  |  |  |  |  |  |  |  |
Nonaccruing loans: |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |
Energy | $ | 28,986 |  |  | $ | 28,668 |  |  | $ | 14,991 |  |  | $ | 17,843 |  |  | $ | 19,559 |
Healthcare | 15,927 |  |  | 20,845 |  |  | 49,307 |  |  | 81,529 |  |  | 41,836 |
Services | 1,425 |  |  | 3,165 |  |  | 3,319 |  |  | 3,616 |  |  | 2,820 |
General business | 5,334 |  |  | 5,756 |  |  | 7,003 |  |  | 7,143 |  |  | 6,483 |
Total commercial | 51,672 |  |  | 58,434 |  |  | 74,620 |  |  | 110,131 |  |  | 70,698 |
Commercial real estate | 12,364 |  |  | 12,883 |  |  | 22,087 |  |  | 7,320 |  |  | 7,418 |
Loans to individuals: |  |  |  |  |  |  |  |  |
Permanent mortgage | 13,688 |  |  | 12,627 |  |  | 13,449 |  |  | 18,056 |  |  | 30,954 |
Permanent mortgage guaranteed by U.S. government agencies | 6,520 |  |  | 6,617 |  |  | 9,217 |  |  | 9,709 |  |  | 10,436 |
Personal | 71 |  |  | 122 |  |  | 142 |  |  | 253 |  |  | 79 |
Total loans to individuals | 20,279 |  |  | 19,366 |  |  | 22,808 |  |  | 28,018 |  |  | 41,469 |
Total nonaccruing loans | 84,315 |  |  | 90,683 |  |  | 119,515 |  |  | 145,469 |  |  | 119,585 |
Real estate and other repossessed assets | 2,625 |  |  | 2,334 |  |  | 2,860 |  |  | 2,875 |  |  | 3,753 |
Total nonperforming assets | $ | 86,940 |  |  | $ | 93,017 |  |  | $ | 122,375 |  |  | $ | 148,344 |  |  | $ | 123,338 |
Total nonperforming assets excluding those guaranteed by U.S. government agencies | $ | 80,420 |  |  | $ | 86,400 |  |  | $ | 113,158 |  |  | $ | 138,635 |  |  | $ | 112,902 |
Accruing loans 90 days past due 1 | $ | 597 |  |  | $ | 2,962 |  |  | $ | — |  |  | $ | 170 |  |  | $ | 64 |
Gross charge-offs | $ | 2,496 |  |  | $ | 7,940 |  |  | $ | 7,060 |  |  | $ | 5,007 |  |  | $ | 10,593 |
Recoveries | (2,550) |  |  | (995) |  |  | (1,600) |  |  | (911) |  |  | (4,062) |
Net charge-offs (recoveries) | $ | (54) |  |  | $ | 6,945 |  |  | $ | 5,460 |  |  | $ | 4,096 |  |  | $ | 6,531 |
Provision for loan losses | $ | (3,424) |  |  | $ | 13,148 |  |  | $ | 9,960 |  |  | $ | 9,105 |  |  | $ | 15,931 |
Provision for credit losses from off-balance sheet unfunded loan commitments | 5,430 |  |  | (4,983) |  |  | (1,658) |  |  | (3,627) |  |  | (7,336) |
Provision for expected credit losses from mortgage banking activities | 47 |  |  | (153) |  |  | (265) |  |  | 530 |  |  | (1,474) |
Provision for credit losses related to held-to maturity (investment) securities portfolio | (53) |  |  | (12) |  |  | (37) |  |  | (8) |  |  | (121) |
Total provision for credit losses | $ | 2,000 |  |  | $ | 8,000 |  |  | $ | 8,000 |  |  | $ | 6,000 |  |  | $ | 7,000 |

23

BOK Financial Corporation quarterly earnings release | Exhibit 99.1(b)

| Three Months Ended
(In thousands, except ratios) | Sep. 30, 2024 |  | June 30, 2024 |  | Mar. 31, 2024 |  | Dec. 31, 2023 |  | Sep. 30, 2023
Allowance for loan losses to period end loans | 1.19 | % |  | 1.17 | % |  | 1.17 | % |  | 1.16 | % |  | 1.15 | %
Combined allowance for loan losses and accrual for off-balance sheet credit risk from unfunded loan commitments to period end loans | 1.39 | % |  | 1.34 | % |  | 1.36 | % |  | 1.36 | % |  | 1.37 | %
Nonperforming assets to period end loans and repossessed assets | 0.36 | % |  | 0.38 | % |  | 0.51 | % |  | 0.62 | % |  | 0.52 | %
Net charge-offs (annualized) to average loans | — | % |  | 0.11 | % |  | 0.09 | % |  | 0.07 | % |  | 0.11 | %
Allowance for loan losses to nonaccruing loans 1 | 365.65 | % |  | 342.38 | % |  | 255.33 | % |  | 204.13 | % |  | 249.31 | %
Combined allowance for loan losses and accrual for off-balance sheet credit risk from unfunded loan commitments to nonaccruing loans 1 | 427.05 | % |  | 392.74 | % |  | 298.23 | % |  | 240.20 | % |  | 297.50 | %

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 |  | 3Q24 vs 2Q24 |  | 3Q24 vs 3Q23 |  |  |  |
(In thousands, except ratios) | Sep. 30, 2024 |  | June 30, 2024 |  | Sep. 30, 2023 |  | Change |  | % Change |  | Change |  | % Change |  |  |  |  |  |  |  |
Commercial Banking: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net interest income | $ | 207,610 |  |  | $ | 203,756 |  |  | $ | 214,143 |  |  | $ | 3,854 |  |  | 1.9 | % |  | $ | (6,533) |  |  | (3.1) | % |  |  |  |  |  |  |  |
Fees and commissions revenue | 55,865 |  |  | 53,720 |  |  | 57,858 |  |  | 2,145 |  |  | 4.0 | % |  | (1,993) |  |  | (3.4) | % |  |  |  |  |  |  |  |
Combined net interest income and fee revenue | 263,475 |  |  | 257,476 |  |  | 272,001 |  |  | 5,999 |  |  | 2.3 | % |  | (8,526) |  |  | (3.1) | % |  |  |  |  |  |  |  |
Other operating expense | 78,387 |  |  | 76,114 |  |  | 83,256 |  |  | 2,273 |  |  | 3.0 | % |  | (4,869) |  |  | (5.8) | % |  |  |  |  |  |  |  |
Corporate expense allocations | 17,371 |  |  | 17,381 |  |  | 17,838 |  |  | (10) |  |  | (0.1) | % |  | (467) |  |  | (2.6) | % |  |  |  |  |  |  |  |
Net income | 129,854 |  |  | 119,579 |  |  | 125,938 |  |  | 10,275 |  |  | 8.6 | % |  | 3,916 |  |  | 3.1 | % |  |  |  |  |  |  |  |
Average assets | 30,657,285 |  |  | 30,305,613 |  |  | 28,867,129 |  |  | 351,672 |  |  | 1.2 | % |  | 1,790,156 |  |  | 6.2 | % |  |  |  |  |  |  |  |
Average loans | 20,340,512 |  |  | 20,403,837 |  |  | 19,645,259 |  |  | (63,325) |  |  | (0.3) | % |  | 695,253 |  |  | 3.5 | % |  |  |  |  |  |  |  |
Average deposits | 17,131,237 |  |  | 16,189,003 |  |  | 15,115,313 |  |  | 942,234 |  |  | 5.8 | % |  | 2,015,924 |  |  | 13.3 | % |  |  |  |  |  |  |  |
Consumer Banking: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net interest income | $ | 65,263 |  |  | $ | 65,164 |  |  | $ | 66,378 |  |  | $ | 99 |  |  | 0.2 | % |  | $ | (1,115) |  |  | (1.7) | % |  |  |  |  |  |  |  |
Fees and commissions revenue | 36,699 |  |  | 36,252 |  |  | 30,715 |  |  | 447 |  |  | 1.2 | % |  | 5,984 |  |  | 19.5 | % |  |  |  |  |  |  |  |
Combined net interest income and fee revenue | 101,962 |  |  | 101,416 |  |  | 97,093 |  |  | 546 |  |  | 0.5 | % |  | 4,869 |  |  | 5.0 | % |  |  |  |  |  |  |  |
Other operating expense | 57,779 |  |  | 55,128 |  |  | 54,497 |  |  | 2,651 |  |  | 4.8 | % |  | 3,282 |  |  | 6.0 | % |  |  |  |  |  |  |  |
Corporate expense allocations | 13,298 |  |  | 13,392 |  |  | 11,920 |  |  | (94) |  |  | (0.7) | % |  | 1,378 |  |  | 11.6 | % |  |  |  |  |  |  |  |
Net income | 18,948 |  |  | 24,117 |  |  | 22,651 |  |  | (5,169) |  |  | (21.4) | % |  | (3,703) |  |  | (16.3) | % |  |  |  |  |  |  |  |
Average assets | 9,804,990 |  |  | 9,630,470 |  |  | 9,379,478 |  |  | 174,520 |  |  | 1.8 | % |  | 425,512 |  |  | 4.5 | % |  |  |  |  |  |  |  |
Average loans | 2,057,870 |  |  | 1,975,106 |  |  | 1,812,606 |  |  | 82,764 |  |  | 4.2 | % |  | 245,264 |  |  | 13.5 | % |  |  |  |  |  |  |  |
Average deposits | 8,136,312 |  |  | 8,073,782 |  |  | 7,936,186 |  |  | 62,530 |  |  | 0.8 | % |  | 200,126 |  |  | 2.5 | % |  |  |  |  |  |  |  |
Wealth Management: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net interest income | $ | 33,185 |  |  | $ | 29,501 |  |  | $ | 22,667 |  |  | $ | 3,684 |  |  | 12.5 | % |  | $ | 10,518 |  |  | 46.4 | % |  |  |  |  |  |  |  |
Fees and commissions revenue | 112,457 |  |  | 113,208 |  |  | 123,614 |  |  | (751) |  |  | (0.7) | % |  | (11,157) |  |  | (9.0) | % |  |  |  |  |  |  |  |
Combined net interest income and fee revenue | 145,642 |  |  | 142,709 |  |  | 146,281 |  |  | 2,933 |  |  | 2.1 | % |  | (639) |  |  | (0.4) | % |  |  |  |  |  |  |  |
Other operating expense | 93,539 |  |  | 90,214 |  |  | 89,108 |  |  | 3,325 |  |  | 3.7 | % |  | 4,431 |  |  | 5.0 | % |  |  |  |  |  |  |  |
Corporate expense allocations | 13,458 |  |  | 16,484 |  |  | 14,562 |  |  | (3,026) |  |  | (18.4) | % |  | (1,104) |  |  | (7.6) | % |  |  |  |  |  |  |  |
Net income | 29,616 |  |  | 27,497 |  |  | 32,519 |  |  | 2,119 |  |  | 7.7 | % |  | (2,903) |  |  | (8.9) | % |  |  |  |  |  |  |  |
Average assets | 16,344,623 |  |  | 16,452,098 |  |  | 14,740,641 |  |  | (107,475) |  |  | (0.7) | % |  | 1,603,982 |  |  | 10.9 | % |  |  |  |  |  |  |  |
Average loans | 2,151,196 |  |  | 2,199,747 |  |  | 2,219,829 |  |  | (48,551) |  |  | (2.2) | % |  | (68,633) |  |  | (3.1) | % |  |  |  |  |  |  |  |
Average deposits | 9,837,888 |  |  | 9,551,307 |  |  | 7,886,962 |  |  | 286,581 |  |  | 3.0 | % |  | 1,950,926 |  |  | 24.7 | % |  |  |  |  |  |  |  |
Fiduciary assets | 63,703,618 |  |  | 61,917,694 |  |  | 56,380,009 |  |  | 1,785,924 |  |  | 2.9 | % |  | 7,323,609 |  |  | 13.0 | % |  |  |  |  |  |  |  |
Assets under management or administration | 110,702,612 |  |  | 107,477,030 |  |  | 99,004,179 |  |  | 3,225,582 |  |  | 3.0 | % |  | 11,698,433 |  |  | 11.8 | % |  |  |  |  |  |  |  |

Certain prior period amounts have been reclassified to conform to current period presentation.
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