BOK Monetary This autumn earnings, income prime estimates

TULSA, Oklahoma – BOK Monetary Company (NASDAQ:BOKF) reported fourth-quarter earnings that surpassed analyst expectations, with income displaying a modest improve. The corporate’s inventory edged down 0.4% Friday following the announcement.

The Tulsa-based monetary providers firm posted adjusted earnings per share of $2.12 for the quarter, beating the analyst consensus of $2.00 by $0.12. Income got here in at $523.09 million, surpassing the estimated $517.65 million and marking a YoY improve.

Internet curiosity revenue for the quarter totaled $313.0 million, up $4.9 million from the earlier quarter, with web curiosity margin increasing 7 foundation factors to 2.75%. Charges and commissions income grew by $4.4 million to $206.9 million, pushed by greater brokerage and buying and selling income and fiduciary and asset administration income.

“I’m very happy with the BOKF staff and the distinctive outcomes we have reported this 12 months,” mentioned Stacy Kymes, President and CEO. “We now have a proficient staff with an award-winning tradition that focuses on driving long-term success for our group.”

The corporate reported robust deposit progress, with period-end deposits growing by $964 million to $38.2 billion. Common deposits rose by $1.1 billion to $37.8 billion. The loan-to-deposit ratio stood at 63% on the finish of the quarter.

Credit score high quality improved considerably, with nonperforming property reaching a historic low of $49 million, or 0.20% of excellent loans and repossessed property, down from $87 million, or 0.36%, within the earlier quarter. Internet charge-offs remained low at $528 thousand, or 0.01% of common loans on an annualized foundation.

For the total 12 months 2024, BOK Monetary reported web revenue of $523.6 million, or $8.14 per diluted share, in comparison with $530.7 million, or $8.02 per diluted share, within the earlier 12 months.

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