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EX-99.1

2 a20260331bokfex99.htm

EX-99.1

Document

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 %

bokf-202601160000875357false00008753572026-01-162026-01-16

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 16, 2026

Commission File No. 001-37811

BOK FINANCIAL CORP

(Exact name of registrant as specified in its charter)

Oklahoma 73-1373454 (State or other jurisdiction of Incorporation or Organization) (IRS Employer Identification No.)

Bank of Oklahoma Tower Boston Avenue at Second Street Tulsa,Oklahoma 74192 (Address of Principal Executive Offices) (Zip Code)

(918) 588-6000 (Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changes since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425).

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12).

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)).

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)).

Securities registered pursuant to Section 12(b) of the Act: Title of each classTrading SymbolName of each exchange on which registered Common Stock, par value $0.00006 per shareBOKFNasdaq Stock Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). ☐ Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

INFORMATION TO BE INCLUDED IN THE REPORT

ITEM 2.02. Results of Operations and Financial Condition.

On January 16, 2026, BOK Financial Corporation (“BOK Financial”) issued a press release announcing its financial results for the three months and year ended December 31, 2025 (“Press Release”). The full text of the Press Release is attached as Exhibit 99.1(a) to this report and is incorporated herein by reference. On January 16, 2026, in connection with the issuance of the Press Release, BOK Financial released financial information related to the three months and year ended December 31, 2025 (“Financial Information”), which includes certain historical financial information relating to BOK Financial. The Financial Information is attached as Exhibit 99.1(b) to this report and is incorporated herein by reference.

ITEM 7.01. Regulation FD Disclosure.

On January 16, 2026, in connection with the issuance of the Press Release, BOK Financial released financial information related to the three months and year ended December 31, 2025 (“Financial Information”), which includes certain historical financial information relating to BOK Financial. The Financial Information is attached as Exhibit 99.2(a) to this report and is incorporated herein by reference.

ITEM 9.01. Financial Statements and Exhibits.

(d)    Exhibits

99.1    Text of Press Release, dated January 16, 2026, titled "BOK Financial Corporation reports annual earnings of $578 million, or a record $9.17 per share, and quarterly earnings of $177 million, or a record $2.89 per share, in the fourth quarter" and Financial Information for the Three Months and Year Ended December 31, 2025.

99.2    Earnings conference call presentation, dated January 20, 2026, titled “Q4 Earnings Conference Call" for the Three Months and Year Ended December 31, 2025.

104    Cover Page Interactive Data File (embedded within the Inline XBRL document).

Signature

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

BOK FINANCIAL CORPORATION

By: /s/ Martin E. Grunst Martin E. Grunst Executive Vice President Chief Financial Officer Date: January 16, 2026