BOK Financial Q3 2023 Earnings Report

Reported quarterly earnings driven by diverse business model.

Key Takeaways

BOK Financial Corporation reported a solid quarter with net income of $134.5 million, or $2.04 per diluted share. The results were driven by a diverse business model that balances interest and non-interest revenues.

Net income was $134.5 million or $2.04 per diluted share for the third quarter of 2023, compared to $151.3 million or $2.27 per diluted share for the second quarter of 2023.

Period-end loans grew by $486 million to $23.7 billion at September 30, 2023, mostly driven by growth in commercial loans and commercial real estate loans secured by multifamily properties.

Period-end deposits increased $358 million to $33.7 billion while average deposits increased $918 million to $33.3 billion.

The company repurchased 700,500 shares of common stock at an average price paid of $84.17 a share in the third quarter of 2023.