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BOKF · Current Report (Form 8-K) · Filed April 20, 2026

Bok Financial Corp — 8-K exhibit

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Bok Financial Corp on Boardroom Alpha
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BOK Financial Corporation reports quarterly earnings of $156 million, or $2.58 per share, in the first quarter.
First quarter 2026 financial highlights1
Net Income
Net income was $155.8 million, or $2.58 per diluted share, compared to $177.3 million, or $2.89 per diluted share. Excluding the gain recognized on the sale of a merchant banking investment and the FDIC special assessment benefit, net income would have been $152.1 million, or $2.48 per diluted share, in the fourth quarter of 2025.2
Net Interest Income & Margin
Net interest income totaled $342.6 million, a decrease of $2.7 million. Net interest margin was 2.90% for the first quarter compared to 2.98% in the prior quarter.
Fees & Commissions Revenue
Fees and commissions revenue was $209.8 million, a decrease of $5.1 million, led by lower investment banking revenue due to seasonality and volume of transactions.
Operating Expense
Operating expense decreased $6.9 million to $354.2 million. Excluding the FDIC special assessment benefit from the fourth quarter of 2025, operating expense decreased $16.4 million. Personnel expense decreased $11.6 million and non-personnel expense decreased $4.8 million, reflecting our continued focus on managing our core cost structure.
Loans
Period end loans grew by $536 million, to $26.2 billion, with broad-based growth across the loan portfolio, led by general business, energy, and multifamily commercial real estate loans. Average outstanding loan balances were $25.9 billion, a $683 million increase.
Credit Quality
Nonperforming assets declined to $60 million, or 0.23% of outstanding loans and repossessed assets, at March 31, 2026, from $75 million, or 0.29%, at December 31, 2025. Net charge-offs for the first quarter were $1.9 million, or 0.03% of average loans on an annualized basis.
Deposits
Period end deposits decreased $758 million to $38.7 billion and average deposits decreased $1.0 billion to $39.0 billion. Average interest-bearing deposits decreased $692 million and average demand deposits decreased by $315 million. The loan to deposit ratio was 68% at March 31, 2026, compared to 65% at December 31, 2025.
Capital
Tangible common equity ratio2 was 9.29% compared to 9.46% at December 31, 2025. Tier 1 capital ratio was 12.61%, common equity Tier 1 capital ratio was 12.61%, and total capital ratio was 14.39%. No shares of common stock were repurchased in the first quarter of 2026.

p
$536 million
3 bps
$123.6 billion
LOAN GROWTHNET CHARGE-OFFS (TTM)AUMA

CEO Commentary
Stacy Kymes, President and CEO, stated, “Our first quarter performance reflects disciplined execution and exceptional teamwork across the organization, driven by core operating results. Loan growth exceeded 10% over the last 12 months with diverse growth across sectors and geographies, while credit quality remained excellent. During the quarter, our fee‑based businesses demonstrated resilience in a volatile market environment, with fee revenue exceeding three of the past four quarters. Expenses declined meaningfully, reflecting our continued focus on managing our core cost structure. We’re off to a strong start and well positioned for growth as the year progresses."
1 Comparisons are to the prior quarter unless otherwise noted.        
2 See Explanation and Reconciliation of Non-GAAP Measures - Unaudited section following.

BOK Financial Corporation quarterly earnings releaseExhibit 99.1(a)
Net Interest Income
(Dollars in thousands)Mar. 31, 2026Dec. 31, 2025Change% Change
Tax-equivalent interest revenue
Interest-bearing cash and cash equivalents$5,133 $5,302 $(169)(3.2)%
Trading securities64,588 63,296 1,292 2.0 %
Investment securities6,149 6,381 (232)(3.6)%
Available-for-sale securities133,963 134,440 (477)(0.4)%
Fair value option securities1,389 913 476 52.1 %
Restricted equity securities6,681 4,522 2,159 47.7 %
Residential mortgage loans held for sale1,056 1,349 (293)(21.7)%
Loans399,576 412,170 (12,594)(3.1)%
Total tax-equivalent interest revenue
$618,535 $628,373 $(9,838)(1.6)%
Interest expense
Interest-bearing deposits:
Transaction$175,802 $199,008 $(23,206)(11.7)%
Savings1,162 1,163 (1)(0.1)%
Time32,234 34,252 (2,018)(5.9)%
Total interest-bearing deposits209,198 234,423 (25,225)(10.8)%
Funds purchased and repurchase agreements6,600 10,360 (3,760)(36.3)%
Other borrowings51,482 32,032 19,450 60.7 %
Subordinated debentures6,091 3,722 2,369 63.6 %
Total interest expense273,371 280,537 (7,166)(2.6)%
Tax-equivalent net interest income345,164 347,836 (2,672)(0.8)%
Less: Tax-equivalent adjustment
2,610 2,555 55 2.2 %
Net interest income$342,554 $345,281 $(2,727)(0.8)%
Net interest margin2.90 %2.98 %(0.08)%N/A
Average earning assets$47,772,044 $46,590,610 $1,181,434 2.5 %
Average trading securities5,617,531 5,295,598 321,933 6.1 %
Average investment securities1,747,860 1,804,984 (57,124)(3.2)%
Average available-for-sale securities13,614,473 13,564,939 49,534 0.4 %
Average fair value option securities126,772 72,229 54,543 75.5 %
Average restricted equity securities361,514 250,430 111,084 44.4 %
Average loans balance25,925,585 25,242,551 683,034 2.7 %
Average interest-bearing deposits31,286,311 31,978,527 (692,216)(2.2)%
Average funds purchased and repurchase agreements924,228 1,185,566 (261,338)(22.0)%
Average other borrowings5,349,061 3,008,388 2,340,673 77.8 %
Average subordinated debentures396,606 241,482 155,124 64.2 %
Net interest income was $342.6 million for the first quarter of 2026, a decrease of $2.7 million compared to the prior quarter. Net interest margin declined to 2.90% from 2.98%. For the first quarter of 2026, our core net interest margin excluding trading activities1, a non-GAAP measure, decreased 7 basis points to 3.15% compared to 3.22% in the prior quarter.
1 See Explanation and Reconciliation of Non-GAAP Measures - Unaudited section following.    
    2

BOK Financial Corporation quarterly earnings releaseExhibit 99.1(a)
Average earning assets increased $1.2 billion. Average loan balances increased $683 million, with broad-based growth across the loan portfolio. Average trading securities increased $322 million and restricted equity securities increased $111 million. Average interest-bearing deposits decreased $692 million, primarily from interest-bearing transaction accounts. Average funds purchased and repurchase agreements decreased $261 million, while average other borrowings increased $2.3 billion. Average subordinate debentures increased $155 million, driven by the full quarter impact of the subordinated debt issued in the fourth quarter.
The yield on average earning assets was 5.23%, a 13 basis point decrease compared to the prior quarter. The loan portfolio yield decreased 23 basis points to 6.25%. The yield on trading securities decreased 19 basis points to 4.64%, while the yield on restricted equity securities increased 17 basis points to 7.39%.
Funding costs were 2.92%, down 14 basis points. The cost of interest-bearing deposits decreased 20 basis points to 2.71%. The cost of funds purchased and repurchase agreements decreased 57 basis points to 2.90%, while the cost of other borrowings decreased 32 basis points to 3.90%. The benefit to net interest margin from assets funded by non-interest bearing liabilities was 59 basis points, a decrease of 9 basis points.

Other Operating Revenue
(Dollars in thousands)Mar. 31, 2026Dec. 31, 2025Change% Change
Brokerage and trading revenue$43,606 $47,310 $(3,704)(7.8)%
Transaction card revenue31,965 31,564 401 1.3 %
Fiduciary and asset management revenue66,481 68,347 (1,866)(2.7)%
Deposit service charges and fees32,218 32,039 179 0.6 %
Mortgage banking revenue20,963 19,013 1,950 10.3 %
Other revenue14,544 16,591 (2,047)(12.3)%
Total fees and commissions209,777 214,864 (5,087)(2.4)%
Other gains (losses), net(216)28,078 (28,294)N/A
Loss on derivatives, net(4,374)(2,366)(2,008)N/A
Gain (loss) on fair value option securities, net(2,074)551 (2,625)N/A
Change in fair value of mortgage servicing rights8,155 1,407 6,748 N/A
Gain on available-for-sale securities, net— 1,748 (1,748)N/A
Total other operating revenue$211,268 $244,282 $(33,014)(13.5)%
Fees and commissions revenue totaled $209.8 million for the first quarter of 2026, decreasing $5.1 million compared to the prior quarter.
Brokerage and trading revenue decreased $3.7 million to $43.6 million. Investment banking revenue decreased $4.1 million driven by lower syndication fees and municipal underwriting activity, primarily due to seasonality and volume of transactions. Trading fees and commissions revenue decreased $1.6 million, primarily due to a shift from fee revenue to net interest income on trading securities. Customer hedging revenue grew $1.1 million, as our energy customers increased hedging activity in response to the rapid rise in crude oil prices during the quarter.
Other revenue decreased $2.0 million, largely due to a reduction in fees earned on derivative counterparty margin.
Fiduciary and asset management revenue decreased $1.9 million as the prior quarter included transaction-related fees that did not recur in the current quarter.
Mortgage banking revenue increased $2.0 million due to an increase in mortgage production volumes and higher refinancing activity.
Transaction card revenue and deposit service charges and fees were both consistent with the prior quarter.
Other gains (losses), net, were a net loss of $216 thousand compared to a net gain of $28.1 million in the prior quarter. The fourth quarter included a $23.5 million pre-tax gain on the sale of a merchant banking investment. The current quarter included a net loss on investments related to deferred compensation of $1.8 million compared to a net gain of $3.7 million in the prior quarter.
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BOK Financial Corporation quarterly earnings releaseExhibit 99.1(a)
Operating Expense
(Dollars in thousands)Mar. 31, 2026Dec. 31, 2025Change% Change
Personnel$211,174 $222,726 $(11,552)(5.2)%
Business promotion9,226 11,516 (2,290)(19.9)%
Professional fees and services14,295 18,371 (4,076)(22.2)%
Net occupancy and equipment33,182 32,693 489 1.5 %
FDIC and other insurance5,685 6,078 (393)(6.5)%
FDIC special assessment— (9,479)9,479 N/A
Data processing and communications51,768 51,299 469 0.9 %
Printing, postage, and supplies3,679 4,077 (398)(9.8)%
Amortization of intangible assets2,443 2,656 (213)(8.0)%
Mortgage banking costs11,757 10,663 1,094 10.3 %
Other expense10,957 10,454 503 4.8 %
Total operating expense$354,166 $361,054 $(6,888)(1.9)%
Total operating expense was $354.2 million for the first quarter of 2026, a decrease of $6.9 million compared to the prior quarter.
Personnel expense was $211.2 million, a decrease of $11.6 million. Cash-based incentive compensation decreased $7.0 million. The fourth quarter included higher incentive compensation expenses, primarily driven by strong results in both commercial and wealth production volumes. Regular compensation decreased $2.5 million to $122.2 million, reflecting normalization of quarterly compensation expense as the majority of transitional personnel costs from talent base alignment were recognized in the prior quarter. Deferred compensation expense was $182 thousand, a decrease of $2.2 million compared to the prior quarter. Employee benefits expense increased $1.5 million due to a seasonal increase in payroll taxes, partially offset by lower employee healthcare costs.
Excluding the impact of the FDIC special assessment adjustment in the prior quarter, non-personnel expense decreased $4.8 million. Professional fees and services decreased $4.1 million, primarily driven by lower project costs. Business promotion expense decreased $2.3 million due to lower travel and advertising costs. Mortgage banking costs increased $1.1 million due to increased payoff activity.
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BOK Financial Corporation quarterly earnings releaseExhibit 99.1(a)
Loans
(Dollars in thousands)Mar. 31, 2026Dec. 31, 2025Change% Change
Commercial:
Healthcare$3,955,763$4,008,208$(52,445)(1.3)%
Services3,901,9333,911,917(9,984)(0.3)%
Energy3,005,6932,882,242123,4514.3%
Mortgage finance228,242177,76550,47728.4%
General business4,481,4524,300,935180,5174.2%
Total commercial15,573,08315,281,067292,0161.9%
Commercial real estate:
Multifamily2,553,7092,432,330121,3795.0%
Industrial1,418,6261,368,43650,1903.7%
Office821,569814,1397,4300.9%
Retail613,976573,45140,5257.1%
Residential construction and land development
109,480129,783(20,303)(15.6)%
Other commercial real estate
367,319353,86713,4523.8%
Total commercial real estate5,884,6795,672,006212,6733.7%
Loans to individuals:
Residential mortgage
2,784,1342,731,41552,7191.9%
Residential mortgage guaranteed by U.S. government agencies
160,254158,3591,8951.2%
Personal1,785,2431,808,615(23,372)(1.3)%
Total loans to individuals4,729,6314,698,38931,2420.7%
Total loans$26,187,393$25,651,462$535,9312.1%
Outstanding loans were $26.2 billion at March 31, 2026, an increase of $536 million over December 31, 2025, with broad-based growth across the loan portfolio led by general business, energy, and multifamily commercial real estate loans. Unfunded loan commitments grew by $319 million over the fourth quarter of 2025 to $16.2 billion at March 31, 2026.
Outstanding commercial loan balances, which includes healthcare, services, energy, mortgage finance, and general business loans, increased $292 million over the prior quarter.
General business loans increased $181 million to $4.5 billion, or 17% of total loans. General business loans include $2.9 billion of wholesale/retail loans and $1.6 billion of loans from other commercial industries.
Energy loan balances grew by $123 million to $3.0 billion, or 11% 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 72% of committed production loans are secured by properties primarily producing oil. The remaining 28% are secured by properties primarily producing natural gas. Unfunded energy loan commitments were $4.5 billion at March 31, 2026, a $52 million increase over December 31, 2025.
The Company launched the residential mortgage finance line of business in the third quarter of 2025, growing loans by $50 million during the quarter to $228 million, or 1% of total loans.
Services sector loan balances were largely unchanged compared to the prior quarter at $3.9 billion, or 15% of total loans. Services loans consist of a large number of loans to a variety of businesses, including state and local municipal government entities, Native American tribal government and casino operations, foundations and not-for-profit organizations, educational services, and specialty trade contractors.
5

BOK Financial Corporation quarterly earnings releaseExhibit 99.1(a)
Healthcare sector loan balances decreased $52 million and totaled $4.0 billion, or 15% of total loans. Our healthcare sector loans primarily consist of $3.2 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.
Commercial real estate loan balances increased $213 million to $5.9 billion, representing 22% of total loans. Loans secured by multifamily properties increased $121 million. Loans secured by industrial facilities increased $50 million and loans secured by retail facilities increased $41 million, while residential construction and land development loans decreased by $20 million. Unfunded commercial real estate loan commitments were $2.1 billion at March 31, 2026, a $66 million decrease compared to December 31, 2025. We take a disciplined approach to managing our concentration of commercial real estate loan commitments as a percentage of capital.
Loans to individuals were up $31 million over the prior quarter to $4.7 billion and represent 18% of total loans. Residential mortgage loans increased $55 million, while personal loans decreased $23 million. Personal loans consist primarily of loans to Wealth Management clients secured by the cash surrender value of insurance policies or marketable securities. Personal loans also include direct loans secured by and for the purchase of automobiles, recreational and marine equipment, as well as unsecured loans.

Period End & Average Deposits
(Dollars in thousands)Mar. 31, 2026Dec. 31, 2025Change% Change
Period end deposits
Demand$7,694,329 $8,081,930 $(387,601)(4.8)%
Interest-bearing transaction26,352,203 26,850,070 (497,867)(1.9)%
Savings903,707 863,923 39,784 4.6 %
Time3,726,809 3,639,083 87,726 2.4 %
Total deposits$38,677,048 $39,435,006 $(757,958)(1.9)%
Average deposits
Demand$7,693,948 $8,009,082 $(315,134)(3.9)%
Interest-bearing transaction26,707,581 27,396,541 (688,960)(2.5)%
Savings877,650 852,390 25,260 3.0 %
Time3,701,080 3,729,596 (28,516)(0.8)%
Total average deposits$38,980,259 $39,987,609 $(1,007,350)(2.5)%
Our funding sources, which primarily include deposits and wholesale borrowings, provide adequate liquidity to meet our needs. The loan to deposit ratio was 68% at March 31, 2026, compared to 65% at December 31, 2025, providing significant on-balance sheet liquidity to meet future loan demand and contractual obligations.
Period end deposits totaled $38.7 billion at March 31, 2026, a $758 million decrease. Interest-bearing transaction accounts decreased $498 million and demand deposits decreased $388 million, while time deposits increased $88 million.
Average deposits were $39.0 billion during the first quarter, a $1.0 billion decrease. Average interest-bearing transaction accounts decreased $689 million, average demand deposit balances decreased $315 million, and average time deposits decreased $29 million.
Average Commercial Banking deposits decreased $186 million to $18.3 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 8% of our total deposits. Average Consumer Banking deposits increased $43 million to $8.4 billion, or 22% of total deposits. Average Wealth Management deposits increased by $79 million to $10.8 billion, or 28% of total deposits. Average Funds Management and Other deposits decreased $943 million to $1.5 billion, or 4% of total deposits, as funds opportunistically placed into wholesale deposits in the prior quarter were replaced with wholesale borrowings during the first quarter.
6

BOK Financial Corporation quarterly earnings releaseExhibit 99.1(a)
Capital
Minimum Capital RequirementCapital Conservation BufferMinimum Capital Requirement Including Capital Conservation BufferMar. 31, 2026Dec. 31, 2025
Common equity Tier 14.50 %2.50 %7.00 %12.61 %12.90 %
Tier 1 capital6.00 %2.50 %8.50 %12.61 %12.90 %
Total capital8.00 %2.50 %10.50 %14.39 %14.77 %
Tier 1 leverage4.00 %N/A4.00 %9.85 %9.86 %
Tangible common equity ratio1
9.29 %9.46 %
Common stock repurchased (shares)— 2,617,414 
Average price per share repurchased$— $107.99 
The company's common equity Tier 1 capital ratio was 12.61% at March 31, 2026. In addition, the company's Tier 1 capital ratio was 12.61%, total capital ratio was 14.39%, and leverage ratio was 9.85% at March 31, 2026. At December 31, 2025, the company's common equity Tier 1 capital ratio was 12.90%, Tier 1 capital ratio was 12.90%, total capital ratio was 14.77%, and leverage ratio was 9.86%.
The company's tangible common equity ratio1, a non-GAAP measure, was 9.29% at March 31, 2026, and 9.46% at December 31, 2025. The tangible common equity ratio is primarily based on total shareholders' equity, which includes unrealized gains and losses on available-for-sale securities.
No shares of common stock were repurchased in the first quarter of 2026. The company repurchased 2,617,414 shares of common stock at an average price paid of $107.99 per share in the fourth quarter of 2025. We view buybacks opportunistically, but within the context of maintaining our strong capital position.

Credit Quality
Nonperforming assets totaled $60 million, or 0.23% of outstanding loans and repossessed assets, at March 31, 2026, compared to $75 million, or 0.29%, at December 31, 2025. Excluding loans guaranteed by U.S. government agencies, nonperforming assets totaled $52 million, or 0.20% of outstanding loans and repossessed assets, at March 31, 2026, compared to $66 million, or 0.26%, at December 31, 2025.
Nonaccruing loans decreased $14 million compared to December 31, 2025. New nonaccruing loans identified in the first quarter totaled $8.1 million, offset by $5.8 million in payments received, $4.7 million in foreclosures of other real estate owned, $4.4 million in loans that returned to accrual status, and $3.2 million in charge-offs. Nonaccruing services loans decreased $4.9 million, nonaccruing general business loans decreased $3.6 million, nonaccruing loans to individuals decreased $3.4 million, and nonaccruing healthcare loans decreased $2.4 million.
Net charge-offs were $1.9 million, or 0.03% of average loans on an annualized basis, in the first quarter. At March 31, 2026, net charge-offs for the trailing twelve months were $7.5 million, or 0.03% of average loans. Net charge-offs were $1.4 million, or 0.02% of average loans on an annualized basis, in the fourth quarter of 2025.
No provision for expected credit losses was necessary for the first quarter of 2026. The favorable impact of higher projected oil prices on our energy loan portfolio and improved credit quality was offset by loan growth and a slight downward revision to economic forecast assumptions compared to the prior quarter.
At March 31, 2026, the combined allowance for loan losses and accrual for off-balance sheet credit risk from unfunded loan commitments was $323 million, or 1.23% of outstanding loans and 618% of nonaccruing loans, excluding residential mortgage loans guaranteed by U.S. government agencies. At December 31, 2025, the combined allowance for loan losses and accrual for off-balance sheet credit risk from unfunded loan commitments was $327 million, or 1.28% of outstanding loans and 497% of nonaccruing loans.

1     See Explanation and Reconciliation of Non-GAAP Measures - Unaudited section following.
          7

BOK Financial Corporation quarterly earnings releaseExhibit 99.1(a)
Securities & Derivatives
The fair value of the available-for-sale securities portfolio totaled $13.5 billion at March 31, 2026, a $67 million decrease compared to December 31, 2025. At March 31, 2026, the available-for-sale securities portfolio consisted primarily of $9.6 billion of residential mortgage-backed securities fully backed by U.S. government agencies and $3.0 billion of commercial mortgage-backed securities fully backed by U.S. government agencies. At March 31, 2026, the available-for-sale securities portfolio had a net unrealized loss of $217 million, compared to $133 million at December 31, 2025.
We hold an inventory of trading securities in support of sales to a variety of customers. At March 31, 2026, the trading securities portfolio totaled $5.7 billion, compared to $5.4 billion at December 31, 2025.
The company also maintains a portfolio of residential mortgage-backed and commercial 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 $76.0 million to $178 million at March 31, 2026.
Derivative contracts are carried at fair value. At March 31, 2026, the net fair values of derivative contracts, before consideration of cash margin, reported as assets under our customer risk management programs totaled $748 million, compared to $428 million at December 31, 2025. The aggregate net fair value of derivative contracts, before consideration of cash margin, held under these programs reported as liabilities totaled $734 million at March 31, 2026, and $399 million at December 31, 2025.
The net benefit of the changes in the fair value of mortgage servicing rights and related economic hedges was $2.0 million during the first quarter of 2026, including an $8.2 million increase in the fair value of mortgage servicing rights, a $6.3 million decrease in the fair value of securities and derivative contracts held as an economic hedge, and $86 thousand of related net interest income.

First Quarter 2026 Segment Highlights
Commercial BankingConsumer BankingWealth Management
(In thousands)Mar. 31, 2026Dec. 31, 2025Mar. 31, 2026Dec. 31, 2025Mar. 31, 2026Dec. 31, 2025
Net interest income and fee revenue
$232,483 $242,828$96,926 $94,761$153,398 $160,171
Net loans charged-off (recovered)400 9291,508 944496 (7)
Personnel expense51,267 54,97825,466 25,18169,413 74,028
Non-personnel expense31,041 33,20938,027 39,58728,756 28,697
Net income before taxes134,787 162,14219,168 15,05437,541 42,689
Average loans$21,232,965 $20,650,624$2,584,226 $2,516,158$2,430,864 $2,393,802
Average deposits18,306,337 18,492,7938,389,039 8,346,24510,782,785 10,703,630
Assets under management or administration$123,586,715 $126,614,658
Commercial Banking contributed $134.8 million to net income before taxes in the first quarter of 2026, a decrease of $27.4 million compared to the fourth quarter of 2025. Combined net interest income and fee revenue totaled $232.5 million, a decrease of $10.3 million. Net interest income decreased $7.5 million from lower deposit spreads and demand deposit balances, slightly offset by increased loan volumes. Investment banking revenue decreased $2.2 million due to lower loan syndication fees. Other operating expenses decreased $5.9 million, primarily attributable to decreased incentive compensation costs and lower project related costs. Other gains, net, were $1.2 million for the first quarter of 2026, compared to $25.6 million in the fourth quarter of 2025. The fourth quarter included a $23.5 million pre-tax gain on the sale of a merchant banking investment. Average loans increased $582 million, or 3%, to $21.2 billion. Average deposits were $18.3 billion, a decrease of $186 million, or 1%.
8

BOK Financial Corporation quarterly earnings releaseExhibit 99.1(a)
Consumer Banking contributed $19.2 million to net income before taxes in the first quarter of 2026, an increase of $4.1 million. Combined net interest income and fee revenue increased $2.2 million, driven by stronger mortgage production performance and higher card-network incentives, partially offset by changes in deposit spreads. The net benefit of the change in the fair value of mortgage servicing rights and the related economic hedges was $2.0 million, compared to a cost of $579 thousand in the prior quarter. Personnel expense was consistent with the prior quarter. Non-personnel expense decreased $1.6 million due to lower business promotion expenses and professional fees, partially offset by higher mortgage banking costs from increased payoff activity. Corporate expense allocations increased $1.4 million. Average loans increased $68 million, or 3%, to $2.6 billion. Average deposits were relatively consistent with the prior quarter at $8.4 billion.
Wealth Management contributed $37.5 million to net income before taxes in the first quarter of 2026, a decrease of $5.1 million compared to the fourth quarter of 2025. Combined net interest income and fee revenue decreased $6.8 million due to reduced margins on deposits, lower fiduciary and asset management revenue as the prior quarter included transaction-related fees that did not recur, and decreased other revenue. Other operating expenses decreased $4.6 million, driven by lower regular and incentive compensation costs during the quarter. Corporate expense allocations increased $2.4 million. Average loans increased $37 million, or 2%, to $2.4 billion. Average deposits were largely unchanged at $10.8 billion. Assets under management or administration were $123.6 billion, a decrease of $3.0 billion, or 2%.

9

BOK Financial Corporation quarterly earnings releaseExhibit 99.1(a)
Conference Call & Webcast
The company will host a conference call at noon Central time on Tuesday, April 21, 2026, 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 replay PIN: 6617678.

About BOK Financial Corporation
BOK Financial Corporation is a $54 billion regional financial services company headquartered in Tulsa, Oklahoma with $124 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 March 31, 2026 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 within the meaning of the Private Securities Litigation Reform Act of 1995 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,” “may,” “could,” “should,” “would,” “potential,” “continue,” “seek,” “target,” 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 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 and for which BOK Financial assumes no responsibility for the accuracy or completeness. 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. All statements other than statements of historical fact are forward-looking statements. 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 governmental economic policy, including tariffs; 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; trends in customer behavior as well as their ability to repay loans; credit quality deterioration; cybersecurity incidents and data breaches; operational failures or interruptions; liquidity risks; capital adequacy requirements; litigation and regulatory enforcement actions; and other risks detailed in BOK Financial Corporation’s filings with the Securities and Exchange Commission. 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.
10

BOK Financial Corporation Quarterly Earnings Release
Exhibit 99.1(b)
BALANCE SHEETS – UNAUDITED
BOK FINANCIAL CORPORATION
(In thousands)Mar. 31, 2026Dec. 31, 2025
Assets
Cash and due from banks$905,614 $1,001,107 
Interest-bearing cash and cash equivalents506,793 656,995 
Trading securities5,652,162 5,392,745 
Investment securities, net of allowance1,719,731 1,784,242 
Available-for-sale securities13,539,565 13,606,625 
Fair value option securities178,098 102,096 
Restricted equity securities357,909 224,757 
Residential mortgage loans held for sale104,873 94,630 
Loans:
Commercial15,573,083 15,281,067 
Commercial real estate5,884,679 5,672,006 
Loans to individuals4,729,631 4,698,389 
Total loans26,187,393 25,651,462 
Allowance for loan losses(277,719)(275,860)
Loans, net of allowance25,909,674 25,375,602 
Premises and equipment, net631,454 638,936 
Receivables272,540 292,978 
Goodwill1,044,749 1,044,749 
Intangible assets, net32,303 34,752 
Mortgage servicing rights333,381 322,724 
Real estate and other repossessed assets, net of allowance15 176 
Derivative contracts, net782,985 300,775 
Cash surrender value of bank-owned life insurance424,494 421,514 
Receivable on unsettled securities sales156,963 62,034 
Other assets1,207,102 880,064 
Total assets$53,760,405 $52,237,501 
Liabilities
Deposits:
Demand$7,694,329 $8,081,930 
Interest-bearing transaction26,352,203 26,850,070 
Savings903,707 863,923 
Time3,726,809 3,639,083 
Total deposits38,677,048 39,435,006 
Funds purchased and repurchase agreements715,469 1,491,716 
Other borrowings5,753,504 2,745,939 
Subordinated debentures396,625 396,589 
Accrued interest, taxes, and expense325,670 382,809 
Due on unsettled securities purchases1,140,782 991,073 
Derivative contracts, net282,590 397,573 
Other liabilities493,651 476,116 
Total liabilities47,785,339 46,316,821 
Shareholders' equity
Capital, surplus, and retained earnings6,198,177 6,084,816 
Accumulated other comprehensive loss(225,002)(166,170)
Total shareholders’ equity5,973,175 5,918,646 
Non-controlling interests1,891 2,034 
Total equity5,975,066 5,920,680 
Total liabilities and equity$53,760,405 $52,237,501 
11

BOK Financial Corporation Quarterly Earnings Release
Exhibit 99.1(b)
AVERAGE BALANCE SHEETS – UNAUDITED
BOK FINANCIAL CORPORATION
Three Months Ended
(In thousands)Mar. 31, 2026Dec. 31, 2025Sep. 30, 2025June 30, 2025Mar. 31, 2025
Assets
Interest-bearing cash and cash equivalents$577,641 $546,045 $495,091 $506,330 $564,014 
Trading securities5,617,531 5,295,598 5,603,200 6,876,788 5,881,997 
Investment securities, net of allowance1,747,860 1,804,984 1,861,565 1,918,969 1,980,005 
Available-for-sale securities13,614,473 13,564,939 13,386,515 13,218,569 12,962,830 
Fair value option securities126,772 72,229 105,651 88,323 17,603 
Restricted equity securities361,514 250,430 337,055 390,191 348,266 
Residential mortgage loans held for sale77,105 91,414 91,422 86,543 63,365 
Loans:
Commercial15,430,740 15,037,471 14,490,145 14,315,695 14,633,090 
Commercial real estate5,779,715 5,581,588 5,743,572 5,495,152 5,245,867 
Loans to individuals4,715,130 4,623,492 4,592,422 4,365,702 4,189,270 
Total loans25,925,585 25,242,551 24,826,139 24,176,549 24,068,227 
Allowance for loan losses(276,437)(277,580)(277,398)(278,191)(279,983)
Loans, net of allowance25,649,148 24,964,971 24,548,741 23,898,358 23,788,244 
Total earning assets47,772,044 46,590,610 46,429,240 46,984,071 45,606,324 
Cash and due from banks963,980 988,135 960,602 915,487 995,598 
Derivative contracts, net421,256 268,675 317,732 374,125 328,478 
Cash surrender value of bank-owned life insurance422,540 420,167 417,261 419,602 417,797 
Receivable on unsettled securities sales173,506 227,678 162,035 228,563 184,960 
Other assets3,369,683 3,357,081 3,405,206 3,365,104 3,453,746 
Total assets$53,123,009 $51,852,346 $51,692,076 $52,286,952 $50,986,903 
Liabilities
Deposits:
Demand$7,693,948 $8,009,082 $7,894,847 $7,958,538 $8,156,069 
Interest-bearing transaction26,707,581 27,396,541 26,076,475 25,859,336 25,859,733 
Savings877,650 852,390 867,939 853,062 844,875 
Time3,701,080 3,729,596 3,641,985 3,465,780 3,498,401 
Total deposits38,980,259 39,987,609 38,481,246 38,136,716 38,359,078 
Funds purchased and repurchase agreements924,228 1,185,566 873,800 782,039 935,716 
Other borrowings5,349,061 3,008,388 5,048,301 6,019,948 4,626,402 
Subordinated debentures396,606 241,482 — 99,846 131,188 
Derivative contracts, net302,403 317,206 332,893 359,616 237,035 
Due on unsettled securities purchases418,478 452,673 329,361 503,490 425,050 
Other liabilities727,779 697,979 663,323 591,496 611,762 
Total liabilities47,098,814 45,890,903 45,728,924 46,493,151 45,326,231 
Total equity6,024,195 5,961,443 5,963,152 5,793,801 5,660,672 
Total liabilities and equity
$53,123,009 $51,852,346 $51,692,076 $52,286,952 $50,986,903 
12

BOK Financial Corporation Quarterly Earnings Release
Exhibit 99.1(b)
STATEMENTS OF EARNINGS – UNAUDITED
BOK FINANCIAL CORPORATION
Three Months Ended
March 31,
(In thousands, except share and per share data)20262025
Interest revenue$615,925 $618,570 
Interest expense273,371 302,319 
Net interest income
342,554 316,251 
Provision for credit losses— — 
Net interest income after provision for credit losses
342,554 316,251 
Other operating revenue:
Brokerage and trading revenue43,606 31,068 
Transaction card revenue31,965 27,092 
Fiduciary and asset management revenue66,481 60,972 
Deposit service charges and fees32,218 30,275 
Mortgage banking revenue20,963 19,815 
Other revenue14,544 14,894 
Total fees and commissions209,777 184,116 
Other losses, net(216)(725)
Gain (loss) on derivatives, net(4,374)9,565 
Gain (loss) on fair value option securities, net(2,074)325 
Change in fair value of mortgage servicing rights8,155 (7,240)
Total other operating revenue211,268 186,041 
Other operating expense:
Personnel211,174 214,185 
Business promotion9,226 8,818 
Professional fees and services14,295 13,269 
Net occupancy and equipment33,182 32,992 
FDIC and other insurance5,685 6,587 
FDIC special assessment— 523 
Data processing and communications51,768 47,578 
Printing, postage, and supplies3,679 3,639 
Amortization of intangible assets2,443 2,652 
Mortgage banking costs11,757 7,689 
Other expense10,957 9,597 
Total other operating expense354,166 347,529 
Net income before taxes199,656 154,763 
Federal and state income taxes43,936 34,992 
Net income155,720 119,771 
Net loss attributable to non-controlling interests(46)(6)
Net income attributable to BOK Financial Corporation shareholders$155,766 $119,777 
Average shares outstanding:
Basic and diluted60,033,282 63,547,510 
Net income per share:
Basic and diluted$2.58 $1.86 
13

BOK Financial Corporation Quarterly Earnings Release
Exhibit 99.1(b)
QUARTERLY EARNINGS TREND – UNAUDITED
BOK FINANCIAL CORPORATION
Three Months Ended
(In thousands, except share, and per share data)
Mar. 31, 2026Dec. 31, 2025Sep. 30, 2025June 30, 2025Mar. 31, 2025
Interest revenue$615,925 $625,818 $644,453 $642,427 $618,570 
Interest expense273,371 280,537 306,807 314,261 302,319 
Net interest income
342,554 345,281 337,646 328,166 316,251 
Provision for credit losses— — 2,000 — — 
Net interest income after provision for credit losses
342,554 345,281 335,646 328,166 316,251 
Other operating revenue:
Brokerage and trading revenue43,606 47,310 43,239 38,125 31,068 
Transaction card revenue31,965 31,564 29,463 29,561 27,092 
Fiduciary and asset management revenue66,481 68,347 63,878 63,964 60,972 
Deposit service charges and fees32,218 32,039 31,896 31,319 30,275 
Mortgage banking revenue20,963 19,013 19,764 18,993 19,815 
Other revenue14,544 16,591 16,190 15,368 14,894 
Total fees and commissions209,777 214,864 204,430 197,330 184,116 
Other gains (losses), net(216)28,078 8,264 8,140 (725)
Gain (loss) on derivatives, net(4,374)(2,366)(453)5,535 9,565 
Gain (loss) on fair value option securities, net(2,074)551 630 1,112 325 
Change in fair value of mortgage servicing rights8,155 1,407 (2,375)(5,019)(7,240)
Gain on available-for-sale securities, net— 1,748 213 — — 
Total other operating revenue211,268 244,282 210,709 207,098 186,041 
Other operating expense:
Personnel211,174 222,726 226,347 214,711 214,185 
Business promotion9,226 11,516 9,960 9,139 8,818 
Professional fees and services14,295 18,371 15,137 15,402 13,269 
Net occupancy and equipment33,182 32,693 33,040 32,657 32,992 
FDIC and other insurance5,685 6,078 7,302 6,439 6,587 
FDIC special assessment— (9,479)(1,209)(523)523 
Data processing and communications51,768 51,299 50,062 49,597 47,578 
Printing, postage, and supplies3,679 4,077 4,036 4,067 3,639 
Amortization of intangible assets2,443 2,656 2,656 2,656 2,652 
Mortgage banking costs11,757 10,663 10,668 6,711 7,689 
Other expense10,957 10,454 11,771 13,647 9,597 
Total other operating expense354,166 361,054 369,770 354,503 347,529 
Net income before taxes199,656 228,509 176,585 180,761 154,763 
Federal and state income taxes43,936 51,243 35,714 40,691 34,992 
Net income155,720 177,266 140,871 140,070 119,771 
Net income (loss) attributable to non-controlling interests(46)(35)(23)52 (6)
Net income attributable to BOK Financial Corporation shareholders$155,766 $177,301 $140,894 $140,018 $119,777 
Average shares outstanding:
Basic and diluted60,033,282 60,916,929 62,840,270 63,208,027 63,547,510 
Net income per share:
Basic and diluted$2.58 $2.89 $2.22 $2.19 $1.86 
14

BOK Financial Corporation Quarterly Earnings Release
Exhibit 99.1(b)
FINANCIAL HIGHLIGHTS – UNAUDITED
BOK FINANCIAL CORPORATION
Three Months Ended
(In thousands, except ratio, share, and per share data)Mar. 31, 2026Dec. 31, 2025Sep. 30, 2025June 30, 2025Mar. 31, 2025
Capital:
Period end shareholders' equity$5,973,175 $5,918,646 $6,022,535 $5,890,888 $5,771,813 
Risk-weighted assets$40,777,918 $38,966,948 $38,136,467 $37,630,803 $38,062,913 
Risk-based capital ratios:
Common equity Tier 112.61 %12.90 %13.60 %13.59 %13.31 %
Tier 112.61 %12.90 %13.61 %13.60 %13.31 %
Total capital14.39 %14.77 %14.48 %14.48 %14.54 %
Leverage ratio9.85 %9.86 %10.19 %9.88 %10.02 %
Tangible common equity ratio1
9.29 %9.46 %10.06 %9.63 %9.48 %
Common stock:
Book value per share$98.31 $97.63 $95.22 $92.61 $89.82 
Tangible book value per share$80.58 $79.83 $78.11 $75.56 $72.87 
Market value per share:
High$138.42 $122.16 $114.17 $104.15 $116.29 
Low$113.53 $102.72 $96.89 $85.08 $97.84 
Cash dividends paid$38,118 $38,042 $36,122 $36,256 $36,468 
Dividend payout ratio24.47 %21.46 %25.64 %25.89 %30.45 %
Shares outstanding, net60,759,992 60,620,507 63,247,676 63,611,097 64,261,824 
Stock buy-back program:
Shares repurchased— 2,617,414 365,547 663,298 10,000 
Amount$— $282,645 $40,575 $62,341 $985 
Average price paid per share2
$— $107.99 $111.00 $93.99 $98.45 
Performance ratios (quarter annualized):
Return on average assets1.19 %1.36 %1.08 %1.07 %0.95 %
Return on average equity10.49 %11.80 %9.38 %9.70 %8.59 %
Return on average tangible common equity1
12.78 %14.42 %11.46 %11.94 %10.63 %
Net interest margin2.90 %2.98 %2.91 %2.80 %2.78 %
Efficiency ratio1
63.21 %60.71 %66.66 %65.42 %68.31 %
Adjusted efficiency ratio1
63.21 %64.89 %66.88 %65.52 %68.21 %
Other data:
Tax-equivalent interest$2,610 $2,555 $2,565 $2,574 $2,542 
Net unrealized loss on available-for-sale securities$(216,978)$(132,566)$(203,682)$(276,678)$(363,507)

1     See Explanation and Reconciliation of Non-GAAP Measures - Unaudited section 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)
Three Months Ended
(In thousands, except ratio, share, and per share data)Mar. 31, 2026Dec. 31, 2025Sep. 30, 2025June 30, 2025Mar. 31, 2025
Mortgage banking:
Mortgage production revenue$3,926 $1,963 $2,370 $1,707 $2,629 
Mortgage loans funded for sale$230,858 $230,376 $229,812 $219,154 $159,816 
Add: Current period end outstanding commitments
83,674 49,048 67,842 64,508 60,429 
Less: Prior period end outstanding commitments49,048 67,842 64,508 60,429 36,590 
Total mortgage production volume$265,484 $211,582 $233,146 $223,233 $183,655 
Mortgage loan refinances to mortgage loans funded for sale30 %27 %13 %16 %12 %
Realized margin on funded mortgage loans1.22 %1.10 %0.96 %0.66 %0.91 %
Production revenue as a percentage of production volume1.48 %0.93 %1.02 %0.76 %1.43 %
Mortgage servicing revenue$17,037 $17,050 $17,394 $17,286 $17,186 
Average outstanding principal balance of mortgage loans serviced for others$22,109,450 $21,882,238 $22,269,300 $22,687,658 $23,089,324 
Average mortgage servicing revenue rates0.31 %0.31 %0.31 %0.31 %0.30 %
Gain (loss) on mortgage servicing rights, net of economic hedge:
Gain (loss) on derivatives, net$(4,211)$(2,651)$(508)$5,230 $9,183 
Gain (loss) on fair value option securities, net(2,074)551 630 1,112 325 
Gain (loss) on economic hedge of mortgage servicing rights(6,285)(2,100)122 6,342 9,508 
Change in fair value of mortgage servicing rights8,155 1,407 (2,375)(5,019)(7,240)
Gain (loss) on changes in fair value of mortgage servicing rights, net of economic hedges, included in other operating revenue1,870 (693)(2,253)1,323 2,268 
Net interest income (expense) on fair value option securities3
86 114 169 229 (71)
Total economic benefit (cost) of changes in the fair value of mortgage servicing rights, net of economic hedges$1,956 $(579)$(2,084)$1,552 $2,197 



1     See Explanation and Reconciliation of Non-GAAP Measures - Unaudited section 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.                      16

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 per share data)
Mar. 31, 2026Dec. 31, 2025Sep. 30, 2025June 30, 2025Mar. 31, 2025
Reconciliation of tangible common equity ratio:
Total shareholders' equity$5,973,175 $5,918,646 $6,022,535 $5,890,888 $5,771,813 
Less: Goodwill and intangible assets, net1,077,052 1,079,501 1,082,125 1,084,749 1,088,813 
Tangible common equity$4,896,123 $4,839,145 $4,940,410 $4,806,139 $4,683,000 
Total assets$53,760,405 $52,237,501 $50,193,387 $50,998,077 $50,472,189 
Less: Goodwill and intangible assets, net1,077,052 1,079,501 1,082,125 1,084,749 1,088,813 
Tangible assets$52,683,353 $51,158,000 $49,111,262 $49,913,328 $49,383,376 
Tangible common equity ratio9.29 %9.46 %10.06 %9.63 %9.48 %
Reconciliation of return on average tangible common equity:
Total average shareholders' equity$6,022,247 $5,959,186 $5,960,711 $5,791,275 $5,658,082 
Less: Average goodwill and intangible assets, net1,078,240 1,080,758 1,083,390 1,086,991 1,090,116 
Average tangible common equity$4,944,007 $4,878,428 $4,877,321 $4,704,284 $4,567,966 
Net income attributable to BOK Financial Corporation shareholders
$155,766 $177,301 $140,894 $140,018 $119,777 
Return on average tangible common equity12.78 %14.42 %11.46 %11.94 %10.63 %
Calculation of efficiency ratio and adjusted efficiency ratio:
Total other operating expense$354,166 $361,054 $369,770 $354,503 $347,529 
Less: Amortization of intangible assets2,443 2,656 2,656 2,656 2,652 
Numerator for efficiency ratio$351,723 $358,398 $367,114 $351,847 $344,877 
Less: FDIC special assessment expense (benefit)— (9,479)(1,209)(523)523 
Numerator for adjusted efficiency ratio$351,723 $367,877 $368,323 $352,370 $344,354 
Net interest income
$342,554 $345,281 $337,646 $328,166 $316,251 
Add: Tax-equivalent adjustment
2,610 2,555 2,565 2,574 2,542 
Tax-equivalent net interest income
345,164 347,836 340,211 330,740 318,793 
Add: Total other operating revenue211,268 244,282 210,709 207,098 186,041 
Less: Gain on available-for-sale securities, net— 1,748 213 — — 
Denominator for efficiency ratio
$556,432 $590,370 $550,707 $537,838 $504,834 
Less: Gain on sale of merchant banking investment— 23,475 — — — 
Denominator for adjusted efficiency ratio$556,432 $566,895 $550,707 $537,838 $504,834 
Efficiency ratio63.21 %60.71 %66.66 %65.42 %68.31 %
Adjusted efficiency ratio63.21 %64.89 %66.88 %65.52 %68.21 %
Reconciliation of pre-provision net revenue:
Net income before taxes$199,656 $228,509 $176,585 $180,761 $154,763 
Add: Provision for expected credit losses
— — 2,000 — — 
Less: Net income (loss) attributable to non-controlling interests
(46)(35)(23)52 (6)
Pre-provision net revenue$199,702 $228,544 $178,608 $180,709 $154,769 
17

BOK Financial Corporation Quarterly Earnings Release
Exhibit 99.1(b)
Three Months Ended
(In thousands, except ratio and per share data)
Mar. 31, 2026Dec. 31, 2025Sep. 30, 2025June 30, 2025Mar. 31, 2025
Information on net interest income and net interest margin excluding trading activities:
Net interest income
$342,554 $345,281 $337,646 $328,166 $316,251 
Less: Trading activities net interest income
15,366 13,211 14,325 16,138 15,174 
Net interest income excluding trading activities
327,188 332,070 323,321 312,028 301,077 
Add: Tax-equivalent adjustment
2,610 2,555 2,565 2,574 2,542 
Tax-equivalent net interest income excluding trading activities
$329,798 $334,625 $325,886 $314,602 $303,619 
Average interest-earning assets$47,772,044 $46,590,610 $46,429,240 $46,984,071 $45,606,324 
Less: Average trading activities interest-earning assets5,617,531 5,295,598 5,603,200 6,876,788 5,881,997 
Average interest-earning assets excluding trading activities$42,154,513 $41,295,012 $40,826,040 $40,107,283 $39,724,327 
Net interest margin on average interest-earning assets2.90 %2.98 %2.91 %2.80 %2.78 %
Net interest margin on average trading activities interest-earning assets1.05 %1.04 %1.07 %0.93 %0.98 %
Net interest margin on average interest-earning assets excluding trading activities3.15 %3.22 %3.16 %3.12 %3.05 %
Three Months Ended
(In thousands, except per share data)
Dec. 31, 2025
Reconciliation of adjusted net income and earnings per share:
Net income attributable to BOK Financial Corporation shareholders
$177,301 
Impact of FDIC special assessment benefit, net of tax
(7,239)
Gain on sale of merchant banking investment, net of tax
(17,928)
Adjusted net income$152,134 
Earnings per share$2.89 
Impact of FDIC special assessment benefit, net of tax
(0.12)
Gain on sale of merchant banking investment, net of tax
(0.29)
Adjusted earnings per share
$2.48 

18

BOK Financial Corporation Quarterly Earnings Release
Exhibit 99.1(b)
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 do not benefit common shareholders. 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.
The efficiency ratio and adjusted efficiency ratio measure the company's ability to use its assets and manage its liabilities effectively in the current period.
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.
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.
We believe adjusting net income and earnings per share for notable non-core items enhances comparability of results with prior periods, demonstrates the impact of significant items, and provides a useful measure for determining the company's expenses that are core to our business operations and are expected to recur over time.
19

BOK Financial Corporation Quarterly Earnings Release
Exhibit 99.1(b)
LOANS TREND – UNAUDITED
BOK FINANCIAL CORPORATION
(In thousands)Mar. 31, 2026Dec. 31, 2025Sep. 30, 2025June 30, 2025Mar. 31, 2025
Commercial:     
Healthcare$3,955,763 $4,008,208 $3,878,543 $3,808,936 $3,789,446 
Services3,901,933 3,911,917 3,710,643 3,658,807 3,704,834 
Energy3,005,693 2,882,242 2,681,512 2,734,713 2,860,330 
Mortgage finance228,242 177,765 84,271 — — 
General business4,481,452 4,300,935 4,157,971 4,181,726 4,048,821 
Total commercial15,573,083 15,281,067 14,512,940 14,384,182 14,403,431 
Commercial real estate:
Multifamily2,553,709 2,432,330 2,500,323 2,473,365 2,336,312 
Industrial1,418,626 1,368,436 1,396,795 1,304,211 1,163,089 
Office821,569 814,139 811,601 690,086 704,688 
Retail613,976 573,451 593,835 592,043 497,579 
Residential construction and land development109,480 129,783 122,033 105,701 105,190 
Other commercial real estate367,319 353,867 328,020 356,035 356,678 
Total commercial real estate5,884,679 5,672,006 5,752,607 5,521,441 5,163,536 
Loans to individuals:     
Residential mortgage2,784,134 2,731,415 2,676,366 2,610,681 2,471,345 
Residential mortgage guaranteed by U.S. government agencies
160,254 158,359 151,642 148,453 133,453 
Personal1,785,243 1,808,615 1,771,639 1,627,454 1,518,723 
Total loans to individuals4,729,631 4,698,389 4,599,647 4,386,588 4,123,521 
Total loans
$26,187,393 $25,651,462 $24,865,194 $24,292,211 $23,690,488 
20

BOK Financial Corporation Quarterly Earnings Release
Exhibit 99.1(b)
LOANS MANAGED BY PRINCIPAL MARKET AREA – UNAUDITED
BOK FINANCIAL CORPORATION
(In thousands)Mar. 31, 2026Dec. 31, 2025Sep. 30, 2025June 30, 2025Mar. 31, 2025
Texas:
Commercial$7,489,036 $7,383,319 $6,800,577 $6,893,246 $6,953,714 
Commercial real estate2,149,123 2,057,016 2,107,335 1,997,598 1,864,345 
Loans to individuals1,077,386 1,066,827 1,037,831 996,341 929,825 
Total Texas10,715,545 10,507,162 9,945,743 9,887,185 9,747,884 
Oklahoma:
Commercial3,907,911 3,829,109 3,692,319 3,455,696 3,380,680 
Commercial real estate612,981 589,709 574,126 512,075 521,992 
Loans to individuals3,065,886 3,005,460 2,927,185 2,725,320 2,548,549 
Total Oklahoma7,586,778 7,424,278 7,193,630 6,693,091 6,451,221 
Colorado:
Commercial2,125,660 2,127,979 2,132,770 2,185,658 2,246,388 
Commercial real estate596,517 600,668 589,307 791,171 706,154 
Loans to individuals191,721 200,378 208,323 217,088 210,531 
Total Colorado2,913,898 2,929,025 2,930,400 3,193,917 3,163,073 
Arizona:
Commercial1,378,256 1,253,824 1,228,593 1,166,745 1,115,085 
Commercial real estate1,448,141 1,332,658 1,348,838 1,165,927 1,084,967 
Loans to individuals220,116 224,354 222,963 226,727 218,093 
Total Arizona3,046,513 2,810,836 2,800,394 2,559,399 2,418,145 
Kansas/Missouri:
Commercial291,075 282,189 270,068 303,692 298,410 
Commercial real estate537,709 571,331 618,052 556,390 533,335 
Loans to individuals117,617 142,392 142,408 155,154 147,651 
Total Kansas/Missouri946,401 995,912 1,030,528 1,015,236 979,396 
New Mexico:
Commercial308,712 311,636 282,479 282,918 324,321 
Commercial real estate484,623 465,228 458,720 443,516 381,775 
Loans to individuals48,099 49,589 51,056 55,714 57,926 
Total New Mexico841,434 826,453 792,255 782,148 764,022 
Arkansas:
Commercial72,433 93,011 106,134 96,227 84,833 
Commercial real estate55,585 55,396 56,229 54,764 70,968 
Loans to individuals8,806 9,389 9,881 10,244 10,946 
Total Arkansas136,824 157,796 172,244 161,235 166,747 
Total BOK Financial$26,187,393 $25,651,462 $24,865,194 $24,292,211 $23,690,488 
Loans attributed to a principal market may not always represent the location of the borrower or the collateral.

21

BOK Financial Corporation Quarterly Earnings Release
Exhibit 99.1(b)
DEPOSITS BY PRINCIPAL MARKET AREA – UNAUDITED
BOK FINANCIAL CORPORATION
(In thousands)Mar. 31, 2026Dec. 31, 2025Sep. 30, 2025June 30, 2025Mar. 31, 2025
Oklahoma:
    Demand$3,463,094 $3,492,243 $3,520,203 $3,589,146 $3,629,708 
    Interest-bearing:
       Transaction13,629,679 13,732,961 13,352,070 13,537,068 13,891,707 
       Savings561,079 532,284 520,995 521,734 525,424 
       Time2,245,523 2,232,078 2,356,945 2,166,094 2,089,744 
    Total interest-bearing16,436,281 16,497,323 16,230,010 16,224,896 16,506,875 
Total Oklahoma19,899,375 19,989,566 19,750,213 19,814,042 20,136,583 
Texas:
    Demand2,071,766 2,177,256 2,194,177 2,082,652 2,187,903 
    Interest-bearing:
       Transaction6,447,755 6,691,395 6,427,135 6,203,081 5,925,285 
       Savings153,501 149,593 147,560 155,027 155,777 
       Time676,876 647,158 649,757 638,657 633,538 
    Total interest-bearing7,278,132 7,488,146 7,224,452 6,996,765 6,714,600 
Total Texas9,349,898 9,665,402 9,418,629 9,079,417 8,902,503 
Colorado:
    Demand881,440 1,152,203 929,383 1,040,223 1,082,304 
    Interest-bearing:
       Transaction2,072,825 2,137,579 2,204,899 1,989,284 1,988,258 
       Savings58,605 54,809 53,768 55,326 58,318 
       Time299,196 282,320 284,962 278,914 274,235 
    Total interest-bearing2,430,626 2,474,708 2,543,629 2,323,524 2,320,811 
Total Colorado3,312,066 3,626,911 3,473,012 3,363,747 3,403,115 
New Mexico:
    Demand580,900 580,400 591,330 609,205 631,950 
    Interest-bearing:
       Transaction1,447,506 1,405,940 1,376,694 1,416,741 1,283,998 
       Savings99,848 95,630 94,180 94,930 96,969 
       Time374,661 354,757 347,227 340,946 344,827 
    Total interest-bearing1,922,015 1,856,327 1,818,101 1,852,617 1,725,794 
Total New Mexico2,502,915 2,436,727 2,409,431 2,461,822 2,357,744 
Arizona:
    Demand398,102 365,007 368,432 385,442 451,085 
    Interest-bearing:
       Transaction1,439,796 1,450,416 1,406,300 1,467,509 1,312,979 
       Savings11,593 14,656 13,571 10,536 11,125 
       Time73,912 72,286 71,886 72,041 70,758 
    Total interest-bearing1,525,301 1,537,358 1,491,757 1,550,086 1,394,862 
Total Arizona1,923,403 1,902,365 1,860,189 1,935,528 1,845,947 
22

BOK Financial Corporation Quarterly Earnings Release
Exhibit 99.1(b)
(In thousands)Mar. 31, 2026Dec. 31, 2025Sep. 30, 2025June 30, 2025Mar. 31, 2025
Kansas/Missouri:
    Demand271,399 281,263 282,235 269,408 279,808 
    Interest-bearing:
       Transaction1,203,155 1,194,500 1,151,956 1,169,161 1,202,107 
       Savings16,222 14,256 14,251 13,719 14,504 
       Time38,542 37,820 37,563 35,768 36,307 
    Total interest-bearing1,257,919 1,246,576 1,203,770 1,218,648 1,252,918 
Total Kansas/Missouri1,529,318 1,527,839 1,486,005 1,488,056 1,532,726 
Arkansas:
    Demand27,628 33,558 21,416 22,685 25,738 
    Interest-bearing:
       Transaction111,487 237,279 64,174 61,079 57,696 
       Savings2,859 2,695 2,411 2,485 2,602 
       Time18,099 12,664 14,538 17,248 17,019 
    Total interest-bearing132,445 252,638 81,123 80,812 77,317 
Total Arkansas160,073 286,196 102,539 103,497 103,055 
Total BOK Financial$38,677,048 $39,435,006 $38,500,018 $38,246,109 $38,281,673 
23

BOK Financial Corporation Quarterly Earnings Release
Exhibit 99.1(b)
NET INTEREST MARGIN TREND – UNAUDITED
BOK FINANCIAL CORPORATION
Three Months Ended
Mar. 31, 2026Dec. 31, 2025Sep. 30, 2025June 30, 2025Mar. 31, 2025
Tax-equivalent asset yields
Interest-bearing cash and cash equivalents3.60 %3.85 %4.39 %4.46 %4.48 %
Trading securities4.64 %4.83 %5.25 %5.05 %5.07 %
Investment securities, net of allowance1.41 %1.41 %1.41 %1.41 %1.42 %
Available-for-sale securities3.93 %3.94 %3.93 %3.89 %3.82 %
Fair value option securities4.83 %4.83 %5.45 %5.90 %3.72 %
Restricted equity securities7.39 %7.22 %7.84 %7.73 %7.51 %
Residential mortgage loans held for sale5.42 %5.84 %6.08 %6.13 %6.03 %
Loans6.25 %6.48 %6.70 %6.71 %6.71 %
Allowance for loan losses
Loans, net of allowance6.31 %6.55 %6.78 %6.79 %6.79 %
Total tax-equivalent yield on earning assets5.23 %5.36 %5.53 %5.47 %5.45 %
Cost of interest-bearing liabilities:
Interest-bearing deposits:
Transaction
2.67 %2.88 %3.14 %3.17 %3.21 %
Savings0.54 %0.54 %0.55 %0.54 %0.56 %
Time3.53 %3.64 %3.73 %3.83 %4.10 %
Total interest-bearing deposits2.71 %2.91 %3.14 %3.17 %3.24 %
Funds purchased and repurchase agreements2.90 %3.47 %3.29 %3.50 %3.05 %
Other borrowings3.90 %4.22 %4.54 %4.49 %4.57 %
Subordinated debt6.14 %6.12 %— %6.38 %6.44 %
Total cost of interest-bearing liabilities2.92 %3.06 %3.33 %3.40 %3.42 %
Tax-equivalent net interest spread
2.31 %2.30 %2.20 %2.07 %2.03 %
Effect of noninterest-bearing funding sources and other0.59 %0.68 %0.71 %0.73 %0.75 %
Tax-equivalent net interest margin2.90 %2.98 %2.91 %2.80 %2.78 %
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.
24

BOK Financial Corporation Quarterly Earnings Release
Exhibit 99.1(b)
CREDIT QUALITY INDICATORS – UNAUDITED
BOK FINANCIAL CORPORATION
Three Months Ended
(In thousands, except ratios)Mar. 31, 2026Dec. 31, 2025Sep. 30, 2025June 30, 2025Mar. 31, 2025
Nonperforming assets:
Nonaccruing loans:
Commercial:
Healthcare$21,138 $23,490 $24,507 $28,743 $29,253 
Services1,260 6,135 7,647 11,329 13,662 
Energy— — 31 40 49 
General business2,868 6,477 85 45 103 
Total commercial25,266 36,102 32,270 40,157 43,067 
Commercial real estate6,601 6,697 6,809 6,925 13,125 
Loans to individuals:
Permanent mortgage20,175 18,263 21,255 20,654 20,502 
Permanent mortgage guaranteed by U.S. government agencies7,768 8,586 7,348 6,978 6,786 
Personal194 4,712 4,712 4,613 40 
Total loans to individuals28,137 31,561 33,315 32,245 27,328 
Total nonaccruing loans60,004 74,360 72,394 79,327 83,520 
Real estate and other repossessed assets15 176 1,751 1,729 1,769 
Total nonperforming assets$60,019 $74,536 $74,145 $81,056 $85,289 
Total nonperforming assets excluding those guaranteed by U.S. government agencies$52,251 $65,950 $66,797 $74,078 $78,503 
Accruing loans 90 days past due1
$2,411 $— $1,135 $1,388 $3,258 
Gross charge-offs$3,176 $2,353 $4,348 $1,313 $2,291 
Recoveries(1,303)(907)(721)(752)(1,186)
Net charge-offs (recoveries)$1,873 $1,446 $3,627 $561 $1,105 
Provision for loan losses$3,732 $(386)$4,270 $(984)$(336)
Provision for credit losses from off-balance sheet unfunded loan commitments(5,934)487 (2,208)904 448 
Provision for expected credit losses from mortgage banking activities2,213 (95)(74)77 (82)
Provision for credit losses related to held-to-maturity (investment) securities portfolio(11)(6)12 3 (30)
Total provision for credit losses$— $— $2,000 $— $— 
1    Excludes residential mortgage loans guaranteed by agencies of the U.S. government.
25

BOK Financial Corporation Quarterly Earnings Release
Exhibit 99.1(b)
Three Months Ended
(In thousands, except ratios)Mar. 31, 2026Dec. 31, 2025Sep. 30, 2025June 30, 2025Mar. 31, 2025
Allowance for loan losses to period end loans1.06 %1.08 %1.12 %1.14 %1.18 %
Combined allowance for loan losses and accrual for off-balance sheet credit risk from unfunded loan commitments to period end loans1.23 %1.28 %1.32 %1.36 %1.40 %
Nonperforming assets to period end loans and repossessed assets0.23 %0.29 %0.30 %0.33 %0.36 %
Net charge-offs (annualized) to average loans0.03 %0.02 %0.06 %0.01 %0.02 %
Allowance for loan losses to nonaccruing loans1
531.66 %419.41 %426.92 %382.93 %363.06 %
Combined allowance for loan losses and accrual for off-balance sheet credit risk from unfunded loan commitments to nonaccruing loans1
618.45 %497.36 %504.99 %456.18 %430.95 %

1    Excludes residential mortgage loans guaranteed by agencies of the U.S. government.
26

BOK Financial Corporation Quarterly Earnings Release
Exhibit 99.1(b)
SEGMENTS – UNAUDITED
BOK FINANCIAL CORPORATION
Three Months Ended
1Q26 vs 4Q25
1Q26 vs 1Q25
(In thousands, except ratios)
Mar. 31, 2026Dec. 31, 2025Mar. 31, 2025Change% ChangeChange% Change
Commercial Banking:
Net interest income$173,473 $180,950 $178,258 $(7,477)(4.1)%$(4,785)(2.7)%
Fees and commissions revenue59,010 61,878 55,157 (2,868)(4.6)%3,853 7.0 %
Combined net interest income and fee revenue232,483 242,828 233,415 (10,345)(4.3)%(932)(0.4)%
Other operating expense82,308 88,187 78,480 (5,879)(6.7)%3,828 4.9 %
Corporate allocations16,046 17,189 17,055 (1,143)(6.6)%(1,009)(5.9)%
Net income before taxes134,787 162,142 138,096 (27,355)(16.9)%(3,309)(2.4)%
Average assets$22,679,465 $22,139,520 $21,400,745 $539,945 2.4 %$1,278,720 6.0 %
Average loans21,232,965 20,650,624 19,965,166 582,341 2.8 %1,267,799 6.4 %
Average deposits18,306,337 18,492,793 17,769,083 (186,456)(1.0)%537,254 3.0 %
Consumer Banking:
Net interest income$55,989 $57,163 $57,252 $(1,174)(2.1)%$(1,263)(2.2)%
Fees and commissions revenue40,937 37,598 36,795 3,339 8.9 %4,142 11.3 %
Combined net interest income and fee revenue96,926 94,761 94,047 2,165 2.3 %2,879 3.1 %
Other operating expense63,493 64,768 57,236 (1,275)(2.0)%6,257 10.9 %
Corporate allocations14,686 13,292 15,435 1,394 10.5 %(749)(4.9)%
Net income before taxes19,168 15,054 22,122 4,114 27.3 %(2,954)(13.4)%
Average assets$8,452,393 $8,396,499 $8,201,821 $55,894 0.7 %$250,572 3.1 %
Average loans2,584,226 2,516,158 2,206,553 68,068 2.7 %377,673 17.1 %
Average deposits8,389,039 8,346,245 8,154,762 42,794 0.5 %234,277 2.9 %
Wealth Management:
Net interest income$42,974 $44,061 $44,502 $(1,087)(2.5)%$(1,528)(3.4)%
Fees and commissions revenue110,424 116,110 96,336 (5,686)(4.9)%14,088 14.6 %
Combined net interest income and fee revenue153,398 160,171 140,838 (6,773)(4.2)%12,560 8.9 %
Other operating expense98,169 102,725 94,266 (4,556)(4.4)%3,903 4.1 %
Corporate allocations17,155 14,764 13,854 2,391 16.2 %3,301 23.8 %
Net income before taxes37,541 42,689 32,726 (5,148)(12.1)%4,815 14.7 %
Average assets$11,370,683 $11,276,162 $11,367,435 $94,521 0.8 %$3,248 — %
Average loans2,430,864 2,393,802 2,187,599 37,062 1.5 %243,265 11.1 %
Average deposits10,782,785 10,703,630 10,702,521 79,155 0.7 %80,264 0.7 %
Fiduciary assets74,350,101 77,006,744 68,059,837 (2,656,643)(3.4)%6,290,264 9.2 %
Assets under management or administration123,586,715 126,614,658 113,956,563 (3,027,943)(2.4)%9,630,152 8.5 %
Certain prior period amounts have been reclassified to conform to current period presentation.
27
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