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Dec 31, 2024
BOK Financial Q4 2024 Earnings Report
BOK Financial's Q4 2024 earnings were reported, showing a mixed performance with a slight decrease in net income but growth in net interest income and fees and commissions revenue.
Key Takeaways
BOK Financial Corporation reported Q4 2024 earnings with a net income of $136.2 million, or $2.12 per diluted share, slightly lower than the previous quarter. Net interest income increased to $313.0 million, and fees and commissions revenue grew to $206.9 million. Operating expenses also increased to $347.7 million. Period-end loans reached $24.1 billion, and deposits grew to $38.2 billion.
Net income was $136.2 million, or $2.12 per diluted share.
Net interest income totaled $313.0 million, an increase of $4.9 million.
Fees and commissions revenue was $206.9 million, growing by $4.4 million.
Period end deposits grew by $964 million to $38.2 billion.
BOK Financial
BOK Financial
BOK Financial Revenue by Segment
BOK Financial Revenue by Geographic Location
Revenue by Segment
Commercial Banking Revenue
CapyFin.comConsumer Banking Revenue
CapyFin.comWealth Management Revenue
CapyFin.comRevenue by Geographic Location
Texas Revenue
CapyFin.comOklahoma Revenue
CapyFin.comColorado Revenue
CapyFin.comArizona Revenue
CapyFin.comKansas & Missouri Revenue
CapyFin.comNew Mexico Revenue
CapyFin.comArkansas Revenue
CapyFin.com Forward Guidance
While no specific forward guidance was provided, the CEO expressed confidence in the company's ability to perform through diverse business cycles, highlighting the strength of the BOKF team, investments in core C&I loans, and historically strong capital and asset quality.
Positive Outlook
- Investments in growing Core C&I loans are paying off with 8.1 percent year over year growth.
- Net interest income has expanded every quarter throughout 2024.
- Capital is historically strong.
- Asset quality is historically strong.
- Diverse business model shows BOKF is built to perform through diverse business cycles.
Challenges Ahead
- No specific negative forward guidance was provided in the earnings report.
- Operating expense increased $6.6 million to $347.7 million.
- Prior quarter included a pre-tax gain of $3.1 million related to the sale of converted Visa shares.
- Unrealized gain on merchant banking investments was $2.2 million and gain on investments related to deferred compensation was $2.5 million for the fourth quarter of 2024, compared to $5.0 million and $3.8 million, respectively, in the prior quarter.
- Loans secured by industrial facilities decreased $143 million to $1.1 billion, and loans secured by office facilities decreased $60 million to $756 million.