Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K Q1/12 042412 - BOK FINANCIAL CORP | form8k_042412.htm |
| EX-99.A - EXHIBIT 99 (A) TEXT OF PRESS RELEASE 042412 - BOK FINANCIAL CORP | exhibit99a_042412.htm |
Exhibit 99 (b)
|
BALANCE SHEETS
|
||||||||||||
|
BOK FINANCIAL CORPORATION
|
||||||||||||
|
(In thousands)
|
||||||||||||
|
March 31,
|
December 31,
|
March 31,
|
||||||||||
|
2012
|
2011
|
2011
|
||||||||||
|
(Unaudited)
|
(Unaudited)
|
(Unaudited)
|
||||||||||
|
ASSETS
|
||||||||||||
|
Cash and due from banks
|
$ | 691,697 | $ | 976,191 | $ | 805,928 | ||||||
|
Funds sold and resell agreements
|
14,609 | 10,174 | 2,462 | |||||||||
|
Trading securities
|
128,376 | 76,800 | 80,719 | |||||||||
|
Investment securities
|
427,259 | 439,236 | 343,401 | |||||||||
|
Available for sale securities
|
10,186,597 | 10,179,365 | 9,665,901 | |||||||||
|
Fair value option securities
|
347,952 | 651,226 | 326,624 | |||||||||
|
Residential mortgage loans held for sale
|
247,039 | 188,125 | 127,119 | |||||||||
|
Loans:
|
||||||||||||
|
Commercial
|
6,942,641 | 6,571,454 | 6,048,257 | |||||||||
|
Commercial real estate
|
2,264,103 | 2,279,909 | 2,222,982 | |||||||||
|
Residential mortgage
|
1,960,888 | 1,970,461 | 1,777,321 | |||||||||
|
Consumer
|
409,812 | 447,919 | 541,275 | |||||||||
|
Total loans
|
11,577,444 | 11,269,743 | 10,589,835 | |||||||||
|
Less allowance for loan losses
|
(244,209 | ) | (253,481 | ) | (289,549 | ) | ||||||
|
Loans, net of allowance
|
11,333,235 | 11,016,262 | 10,300,286 | |||||||||
|
Premises and equipment, net
|
263,579 | 262,735 | 265,532 | |||||||||
|
Receivables
|
138,325 | 123,257 | 113,060 | |||||||||
|
Goodwill
|
335,601 | 335,601 | 335,601 | |||||||||
|
Intangible assets, net
|
9,645 | 10,219 | 12,906 | |||||||||
|
Mortgage servicing rights, net
|
98,138 | 86,783 | 120,345 | |||||||||
|
Real estate and other repossessed assets
|
115,790 | 122,753 | 131,420 | |||||||||
|
Bankers' acceptances
|
3,493 | 1,881 | 1,884 | |||||||||
|
Derivative contracts
|
384,996 | 293,859 | 245,124 | |||||||||
|
Cash surrender value of bank-owned life insurance
|
266,227 | 263,318 | 258,322 | |||||||||
|
Receivable on unsettled securities sales
|
511,288 | 75,151 | 242,828 | |||||||||
|
Other assets
|
380,327 | 381,010 | 321,561 | |||||||||
|
TOTAL ASSETS
|
$ | 25,884,173 | $ | 25,493,946 | $ | 23,701,023 | ||||||
|
LIABILITIES AND EQUITY
|
||||||||||||
|
Deposits:
|
||||||||||||
|
Demand
|
$ | 6,189,172 | $ | 5,799,785 | $ | 4,457,187 | ||||||
|
Interest-bearing transaction
|
8,908,397 | 9,354,456 | 9,528,864 | |||||||||
|
Savings
|
259,619 | 226,357 | 209,264 | |||||||||
|
Time
|
3,166,099 | 3,381,982 | 3,677,611 | |||||||||
|
Total deposits
|
18,523,287 | 18,762,580 | 17,872,926 | |||||||||
|
Funds purchased
|
1,784,940 | 1,063,318 | 466,749 | |||||||||
|
Repurchase agreements
|
1,162,546 | 1,233,064 | 1,006,051 | |||||||||
|
Other borrowings
|
209,230 | 74,485 | 36,864 | |||||||||
|
Subordinated debentures
|
394,760 | 398,881 | 398,744 | |||||||||
|
Accrued interest, taxes, and expense
|
180,840 | 149,508 | 135,486 | |||||||||
|
Bankers' acceptances
|
3,493 | 1,881 | 1,884 | |||||||||
|
Due on unsettled securities purchases
|
305,166 | 653,371 | 843,904 | |||||||||
|
Derivative contracts
|
305,290 | 236,522 | 156,038 | |||||||||
|
Other liabilities
|
144,220 | 133,684 | 184,689 | |||||||||
|
TOTAL LIABILITIES
|
23,013,772 | 22,707,294 | 21,103,335 | |||||||||
|
Shareholders' equity:
|
||||||||||||
|
Capital, surplus and retained earnings
|
2,673,001 | 2,621,489 | 2,467,820 | |||||||||
|
Accumulated other comprehensive income
|
161,418 | 128,979 | 108,313 | |||||||||
|
TOTAL SHAREHOLDERS' EQUITY
|
2,834,419 | 2,750,468 | 2,576,133 | |||||||||
|
Non-controlling interest
|
35,982 | 36,184 | 21,555 | |||||||||
|
TOTAL EQUITY
|
2,870,401 | 2,786,652 | 2,597,688 | |||||||||
|
TOTAL LIABILITIES AND EQUITY
|
$ | 25,884,173 | $ | 25,493,946 | $ | 23,701,023 | ||||||
|
AVERAGE BALANCE SHEETS - UNAUDITED
|
||||||||||||||||||||
|
BOK FINANCIAL CORPORATION
|
||||||||||||||||||||
|
(In thousands)
|
||||||||||||||||||||
| Quarter Ended | ||||||||||||||||||||
|
March 31,
|
December 31,
|
September 30,
|
June 30,
|
March 31,
|
||||||||||||||||
|
2012
|
2011
|
2011
|
2011
|
2011
|
||||||||||||||||
|
ASSETS
|
||||||||||||||||||||
|
Funds sold and resell agreements
|
$ | 11,385 | $ | 12,035 | $ | 12,344 | $ | 8,814 | $ | 20,680 | ||||||||||
|
Trading securities
|
95,293 | 97,972 | 88,576 | 80,113 | 60,768 | |||||||||||||||
|
Investment securities
|
430,890 | 443,326 | 329,627 | 357,698 | 339,246 | |||||||||||||||
|
Available for sale securities
|
9,947,227 | 9,914,523 | 9,656,592 | 9,543,482 | 9,376,674 | |||||||||||||||
|
Fair value option securities
|
555,233 | 660,025 | 594,629 | 518,073 | 397,093 | |||||||||||||||
|
Residential mortgage loans held for sale
|
182,372 | 201,242 | 156,621 | 134,876 | 125,494 | |||||||||||||||
|
Loans:
|
||||||||||||||||||||
|
Commercial
|
6,858,308 | 6,502,981 | 6,329,135 | 6,145,918 | 6,084,765 | |||||||||||||||
|
Commercial real estate
|
2,236,601 | 2,256,153 | 2,208,757 | 2,172,166 | 2,236,400 | |||||||||||||||
|
Residential mortgage
|
1,937,069 | 1,949,929 | 1,868,627 | 1,858,117 | 1,788,049 | |||||||||||||||
|
Consumer
|
404,834 | 443,252 | 466,285 | 504,553 | 544,542 | |||||||||||||||
|
Total loans
|
11,436,811 | 11,152,315 | 10,872,805 | 10,680,755 | 10,653,756 | |||||||||||||||
|
Less allowance for loan losses
|
(252,538 | ) | (266,473 | ) | (285,570 | ) | (291,308 | ) | (295,014 | ) | ||||||||||
|
Total loans, net
|
11,184,273 | 10,885,842 | 10,587,235 | 10,389,447 | 10,358,742 | |||||||||||||||
|
Total earning assets
|
22,406,673 | 22,214,965 | 21,425,624 | 21,032,503 | 20,678,697 | |||||||||||||||
|
Cash and due from banks
|
908,628 | 1,234,312 | 1,045,450 | 764,806 | 1,095,910 | |||||||||||||||
|
Cash surrender value of bank-owned life insurance
|
264,354 | 261,496 | 260,505 | 259,337 | 256,456 | |||||||||||||||
|
Derivative contracts
|
311,178 | 247,411 | 228,466 | 253,163 | 211,895 | |||||||||||||||
|
Other assets
|
1,625,750 | 1,679,256 | 1,661,693 | 1,669,426 | 1,496,816 | |||||||||||||||
|
TOTAL ASSETS
|
$ | 25,516,583 | $ | 25,637,440 | $ | 24,621,738 | $ | 23,979,235 | $ | 23,739,774 | ||||||||||
|
LIABILITIES AND EQUITY
|
||||||||||||||||||||
|
Deposits:
|
||||||||||||||||||||
|
Demand
|
$ | 5,847,682 | $ | 5,588,596 | $ | 5,086,538 | $ | 4,554,000 | $ | 4,265,657 | ||||||||||
|
Interest-bearing transaction
|
9,319,978 | 9,276,608 | 9,310,046 | 9,184,141 | 9,632,595 | |||||||||||||||
|
Savings
|
241,442 | 220,236 | 214,979 | 210,707 | 203,638 | |||||||||||||||
|
Time
|
3,246,362 | 3,485,059 | 3,617,731 | 3,632,130 | 3,616,991 | |||||||||||||||
|
Total deposits
|
18,655,464 | 18,570,499 | 18,229,294 | 17,580,978 | 17,718,881 | |||||||||||||||
|
Funds purchased
|
1,337,614 | 1,197,154 | 994,099 | 1,168,670 | 820,969 | |||||||||||||||
|
Repurchase agreements
|
1,183,778 | 1,189,861 | 1,128,275 | 1,004,217 | 1,062,359 | |||||||||||||||
|
Other borrowings
|
72,911 | 88,489 | 128,288 | 187,441 | 144,987 | |||||||||||||||
|
Subordinated debentures
|
397,440 | 398,858 | 398,812 | 398,767 | 398,723 | |||||||||||||||
|
Derivative contracts
|
207,864 | 180,623 | 187,515 | 175,199 | 144,492 | |||||||||||||||
|
Other liabilities
|
826,279 | 1,241,469 | 817,049 | 813,074 | 884,566 | |||||||||||||||
|
TOTAL LIABILITIES
|
22,681,350 | 22,866,953 | 21,883,332 | 21,328,346 | 21,174,977 | |||||||||||||||
|
Total equity
|
2,835,233 | 2,770,487 | 2,738,406 | 2,650,889 | 2,564,797 | |||||||||||||||
|
TOTAL LIABILITIES AND EQUITY
|
$ | 25,516,583 | $ | 25,637,440 | $ | 24,621,738 | $ | 23,979,235 | $ | 23,739,774 | ||||||||||
|
STATEMENTS OF EARNINGS - UNAUDITED
|
||||||||
|
BOK FINANCIAL CORPORATION
|
||||||||
|
(In thousands, except per share data)
|
||||||||
|
Quarter Ended
|
||||||||
|
March 31,
|
||||||||
|
2012
|
2011
|
|||||||
|
Interest revenue
|
$ | 198,208 | $ | 202,089 | ||||
|
Interest expense
|
24,639 | 31,450 | ||||||
|
Net interest revenue
|
173,569 | 170,639 | ||||||
|
Provision for (reduction of) allowances for credit losses
|
– | 6,250 | ||||||
|
Net interest revenue after
|
||||||||
|
provision for credit losses
|
173,569 | 164,389 | ||||||
|
Other operating revenue
|
||||||||
|
Brokerage and trading revenue
|
31,111 | 25,376 | ||||||
|
Transaction card revenue
|
25,430 | 28,445 | ||||||
|
Trust fees and commissions
|
18,438 | 18,422 | ||||||
|
Deposit service charges and fees
|
24,379 | 22,480 | ||||||
|
Mortgage banking revenue
|
33,078 | 17,356 | ||||||
|
Bank-owned life insurance
|
2,871 | 2,863 | ||||||
|
Other revenue
|
9,027 | 8,332 | ||||||
|
Total fees and commissions
|
144,334 | 123,274 | ||||||
|
Gain (loss) on other assets, net
|
(356 | ) | (68 | ) | ||||
|
Gain (loss) on derivatives, net
|
(2,473 | ) | (2,413 | ) | ||||
|
Gain (loss) on fair value option securities, net
|
(1,733 | ) | (3,518 | ) | ||||
|
Gain on available for sale securities, net
|
4,331 | 4,902 | ||||||
|
Total other-than-temporary impairment losses
|
(505 | ) | – | |||||
|
Portion of loss recognized in (reclassified from)
|
||||||||
|
other comprehensive income
|
(3,217 | ) | (4,599 | ) | ||||
|
Net impairment losses recognized in earnings
|
(3,722 | ) | (4,599 | ) | ||||
|
Total other operating revenue
|
140,381 | 117,578 | ||||||
|
Other operating expense
|
||||||||
|
Personnel
|
114,769 | 99,994 | ||||||
|
Business promotion
|
4,388 | 4,624 | ||||||
|
Professional fees and services
|
7,599 | 7,458 | ||||||
|
Net occupancy and equipment
|
16,023 | 15,604 | ||||||
|
Insurance
|
3,866 | 6,186 | ||||||
|
Data processing and communications
|
22,144 | 22,503 | ||||||
|
Printing, postage and supplies
|
3,311 | 3,082 | ||||||
|
Net losses and operating expenses
|
||||||||
|
of repossessed assets
|
2,245 | 6,015 | ||||||
|
Amortization of intangible assets
|
575 | 896 | ||||||
|
Mortgage banking costs
|
7,573 | 6,471 | ||||||
|
Change in fair value of mortgage servicing rights
|
(7,127 | ) | (3,129 | ) | ||||
|
Other expense
|
9,871 | 8,745 | ||||||
|
Total other operating expense
|
185,237 | 178,449 | ||||||
|
Net income before taxes
|
128,713 | 103,518 | ||||||
|
Federal and state income taxes
|
45,520 | 38,752 | ||||||
|
Net income
|
83,193 | 64,766 | ||||||
|
Net income (loss) attributable to non-controlling interest
|
(422 | ) | (8 | ) | ||||
|
Net income attributable to BOK Financial Corporation
|
$ | 83,615 | $ | 64,774 | ||||
|
Average shares outstanding:
|
||||||||
|
Basic
|
67,665,300 | 67,901,722 | ||||||
|
Diluted
|
67,941,895 | 68,176,527 | ||||||
|
Net income per share:
|
||||||||
|
Basic
|
$ | 1.22 | $ | 0.95 | ||||
|
Diluted
|
$ | 1.22 | $ | 0.94 | ||||
|
FINANCIAL HIGHLIGHTS - UNAUDITED
|
||||||||||||||||||||
|
BOK FINANCIAL CORPORATION
|
||||||||||||||||||||
|
(In thousands, except ratio and share data)
|
||||||||||||||||||||
| Quarter Ended | ||||||||||||||||||||
|
March 31,
|
December 31,
|
September 30,
|
June 30,
|
March 31,
|
||||||||||||||||
|
2012
|
2011
|
2011
|
2011
|
2011
|
||||||||||||||||
|
Capital:
|
||||||||||||||||||||
|
Period-end shareholders' equity
|
$ | 2,834,419 | $ | 2,750,468 | $ | 2,732,592 | $ | 2,667,717 | $ | 2,576,133 | ||||||||||
|
Risk weighted assets
|
$ | 17,993,379 | $ | 17,291,105 | $ | 17,106,533 | $ | 16,452,305 | $ | 16,416,387 | ||||||||||
|
Risk-based capital ratios:
|
||||||||||||||||||||
|
Tier 1
|
13.03 | % | 13.27 | % | 13.14 | % | 13.30 | % | 12.97 | % | ||||||||||
|
Total capital
|
16.16 | % | 16.49 | % | 16.54 | % | 16.80 | % | 16.48 | % | ||||||||||
|
Leverage ratio
|
9.35 | % | 9.15 | % | 9.37 | % | 9.29 | % | 9.13 | % | ||||||||||
|
Tangible common equity ratio (A)
|
9.75 | % | 9.56 | % | 9.65 | % | 9.71 | % | 9.54 | % | ||||||||||
|
Tier 1 common equity ratio (B)
|
12.83 | % | 13.06 | % | 12.94 | % | 13.15 | % | 12.84 | % | ||||||||||
|
Common stock:
|
||||||||||||||||||||
|
Book value per share
|
$ | 41.61 | $ | 40.36 | $ | 40.18 | $ | 38.97 | $ | 37.64 | ||||||||||
|
Market value per share:
|
||||||||||||||||||||
|
High
|
$ | 59.02 | $ | 55.90 | $ | 55.81 | $ | 54.72 | $ | 56.32 | ||||||||||
|
Low
|
$ | 52.56 | $ | 45.68 | $ | 44.00 | $ | 50.13 | $ | 50.37 | ||||||||||
|
Cash dividends paid
|
$ | 22,571 | $ | 22,451 | $ | 18,836 | $ | 18,823 | $ | 17,102 | ||||||||||
|
Dividend payout ratio
|
26.99 | % | 33.51 | % | 22.13 | % | 27.28 | % | 26.40 | % | ||||||||||
|
Shares outstanding, net
|
68,116,893 | 68,153,044 | 68,006,390 | 68,462,869 | 68,438,422 | |||||||||||||||
|
Stock buy-back program:
|
||||||||||||||||||||
|
Shares repurchased
|
345,300 | 69,581 | 492,444 | – | – | |||||||||||||||
|
Amount
|
$ | 18,432 | $ | 3,579 | $ | 22,866 | $ | – | $ | – | ||||||||||
|
Average price per share
|
$ | 53.38 | $ | 51.44 | $ | 46.43 | $ | – | $ | – | ||||||||||
|
Performance ratios (quarter annualized):
|
||||||||||||||||||||
|
Return on average assets
|
1.32 | % | 1.04 | % | 1.37 | % | 1.15 | % | 1.11 | % | ||||||||||
|
Return on average equity
|
11.86 | % | 9.59 | % | 12.33 | % | 10.44 | % | 10.24 | % | ||||||||||
|
Net interest margin
|
3.19 | % | 3.20 | % | 3.34 | % | 3.40 | % | 3.47 | % | ||||||||||
|
Efficiency ratio
|
59.77 | % | 69.73 | % | 60.13 | % | 62.23 | % | 61.15 | % | ||||||||||
|
Other data:
|
||||||||||||||||||||
|
Trust assets
|
$ | 35,650,798 | $ | 34,398,796 | $ | 31,750,636 | $ | 33,075,456 | $ | 32,013,487 | ||||||||||
|
Mortgage servicing portfolio
|
$ | 11,378,806 | $ | 11,300,986 | $ | 11,249,503 | $ | 11,283,442 | $ | 11,202,626 | ||||||||||
|
Mortgage loans funded for sale
|
$ | 698,062 | $ | 753,215 | $ | 637,127 | $ | 483,808 | $ | 419,684 | ||||||||||
|
Mortgage loan refinances to total fundings
|
67 | % | 66 | % | 54 | % | 36 | % | 49 | % | ||||||||||
|
Tax equivalent adjustment
|
$ | 2,094 | $ | 2,274 | $ | 2,233 | $ | 2,261 | $ | 2,321 | ||||||||||
|
Net unrealized gain on available for sale securities
|
$ | 277,277 | $ | 222,160 | $ | 278,616 | $ | 263,199 | $ | 201,340 | ||||||||||
|
Gain (loss) on mortgage servicing rights, net of economic hedge:
|
||||||||||||||||||||
|
Gain (loss) on mortgage hedge derivative contracts
|
$ | (2,445 | ) | $ | 121 | $ | 4,048 | $ | 1,224 | $ | (2,419 | ) | ||||||||
|
Gain (loss) on mortgage trading securities
|
(2,393 | ) | 222 | 17,788 | 9,921 | (3,518 | ) | |||||||||||||
|
Gain (loss) on economic hedge of mortgage servicing rights
|
(4,838 | ) | 343 | 21,836 | 11,145 | (5,937 | ) | |||||||||||||
|
Gain (loss) on changes in fair value of mortgage servicing rights
|
7,127 | (5,261 | ) | (24,822 | ) | (13,493 | ) | 3,129 | ||||||||||||
|
Gain (loss) on changes in fair value of mortgage servicing
rights, net of economic hedges
|
$ | 2,289 | $ | (4,918 | ) | $ | (2,986 | ) | $ | (2,348 | ) | $ | (2,808 | ) | ||||||
|
Net interest revenue on mortgage trading securities
|
$ | 3,165 | $ | 4,436 | $ | 5,036 | $ | 5,120 | $ | 3,058 | ||||||||||
|
Reconciliation of non-GAAP measures:
|
||||||||||||||||||||
|
(A) Tangible common equity ratio:
|
||||||||||||||||||||
|
Total shareholders' equity
|
$ | 2,834,419 | $ | 2,750,468 | $ | 2,732,592 | $ | 2,667,717 | $ | 2,576,133 | ||||||||||
|
Less: Goodwill and intangible assets, net
|
(345,246 | ) | (345,820 | ) | (346,716 | ) | (347,611 | ) | (348,507 | ) | ||||||||||
|
Tangible common equity
|
$ | 2,489,173 | $ | 2,404,648 | $ | 2,385,876 | $ | 2,320,106 | $ | 2,227,626 | ||||||||||
|
Total assets
|
$ | 25,884,173 | $ | 25,493,946 | $ | 25,066,265 | $ | 24,238,182 | $ | 23,701,023 | ||||||||||
|
Less: Goodwill and intangible assets, net
|
(345,246 | ) | (345,820 | ) | (346,716 | ) | (347,611 | ) | (348,507 | ) | ||||||||||
| $ | 25,538,927 | $ | 25,148,126 | $ | 24,719,549 | $ | 23,890,571 | $ | 23,352,516 | |||||||||||
|
Tangible common equity ratio
|
9.75 | % | 9.56 | % | 9.65 | % | 9.71 | % | 9.54 | % | ||||||||||
|
(B) Tier 1 common equity ratio:
|
||||||||||||||||||||
|
Tier 1 capital
|
$ | 2,344,779 | $ | 2,295,061 | $ | 2,248,743 | $ | 2,188,199 | $ | 2,129,998 | ||||||||||
|
Less: Non-controlling interest
|
(35,982 | ) | (36,184 | ) | (34,958 | ) | (24,457 | ) | (21,555 | ) | ||||||||||
|
Tier 1 common equity
|
$ | 2,308,797 | $ | 2,258,877 | $ | 2,213,785 | $ | 2,163,742 | $ | 2,108,443 | ||||||||||
|
Risk weighted assets
|
$ | 17,993,379 | $ | 17,291,105 | $ | 17,106,533 | $ | 16,452,305 | $ | 16,416,387 | ||||||||||
|
Tier 1 common equity ratio
|
12.83 | % | 13.06 | % | 12.94 | % | 13.15 | % | 12.84 | % | ||||||||||
|
QUARTERLY EARNINGS TRENDS - UNAUDITED
|
||||||||||||||||||||
|
BOK FINANCIAL CORPORATION
|
||||||||||||||||||||
|
(In thousands, except ratio and per share data)
|
||||||||||||||||||||
| Quarter Ended | ||||||||||||||||||||
|
March 31,
|
December 31,
|
September 30,
|
June 30,
|
March 31,
|
||||||||||||||||
|
2012
|
2011
|
2011
|
2011
|
2011
|
||||||||||||||||
|
Interest revenue
|
$ | 198,208 | $ | 198,040 | $ | 205,749 | $ | 205,717 | $ | 202,089 | ||||||||||
|
Interest expense
|
24,639 | 26,570 | 30,365 | 31,716 | 31,450 | |||||||||||||||
|
Net interest revenue
|
173,569 | 171,470 | 175,384 | 174,001 | 170,639 | |||||||||||||||
|
Provision for (reduction of) allowances for credit losses
|
– | (15,000 | ) | – | 2,700 | 6,250 | ||||||||||||||
|
Net interest revenue after
|
||||||||||||||||||||
|
provision for credit losses
|
173,569 | 186,470 | 175,384 | 171,301 | 164,389 | |||||||||||||||
|
Other operating revenue
|
||||||||||||||||||||
|
Brokerage and trading revenue
|
31,111 | 25,629 | 29,451 | 23,725 | 25,376 | |||||||||||||||
|
Transaction card revenue
|
25,430 | 25,960 | 31,328 | 31,024 | 28,445 | |||||||||||||||
|
Trust fees and commissions
|
18,438 | 17,865 | 17,853 | 19,150 | 18,422 | |||||||||||||||
|
Deposit service charges and fees
|
24,379 | 24,921 | 24,614 | 23,857 | 22,480 | |||||||||||||||
|
Mortgage banking revenue
|
33,078 | 25,438 | 29,493 | 19,356 | 17,356 | |||||||||||||||
|
Bank-owned life insurance
|
2,871 | 2,784 | 2,761 | 2,872 | 2,863 | |||||||||||||||
|
Other revenue
|
9,027 | 9,189 | 10,535 | 7,842 | 8,332 | |||||||||||||||
|
Total fees and commissions
|
144,334 | 131,786 | 146,035 | 127,826 | 123,274 | |||||||||||||||
|
Gain (loss) on other assets, net
|
(356 | ) | 1,897 | 712 | 3,344 | (68 | ) | |||||||||||||
|
Gain (loss) on derivatives, net
|
(2,473 | ) | (174 | ) | 4,048 | 1,225 | (2,413 | ) | ||||||||||||
|
Gain (loss) on fair value option securities, net
|
(1,733 | ) | 222 | 17,788 | 9,921 | (3,518 | ) | |||||||||||||
|
Gain on available for sale securities, net
|
4,331 | 7,080 | 16,694 | 5,468 | 4,902 | |||||||||||||||
|
Total other-than-temporary impairment losses
|
(505 | ) | (1,037 | ) | (9,467 | ) | (74 | ) | – | |||||||||||
|
Portion of loss recognized in (reclassified from)
|
||||||||||||||||||||
|
other comprehensive income
|
(3,217 | ) | (1,747 | ) | (1,833 | ) | (4,750 | ) | (4,599 | ) | ||||||||||
|
Net impairment losses recognized in earnings
|
(3,722 | ) | (2,784 | ) | (11,300 | ) | (4,824 | ) | (4,599 | ) | ||||||||||
|
Total other operating revenue
|
140,381 | 138,027 | 173,977 | 142,960 | 117,578 | |||||||||||||||
|
Other operating expense
|
||||||||||||||||||||
|
Personnel
|
114,769 | 121,129 | 103,260 | 105,603 | 99,994 | |||||||||||||||
|
Business promotion
|
4,388 | 5,868 | 5,280 | 4,777 | 4,624 | |||||||||||||||
|
Contribution to BOKF Charitable Foundation
|
– | – | 4,000 | – | – | |||||||||||||||
|
Professional fees and services
|
7,599 | 7,664 | 7,418 | 6,258 | 7,458 | |||||||||||||||
|
Net occupancy and equipment
|
16,023 | 16,826 | 16,627 | 15,554 | 15,604 | |||||||||||||||
|
Insurance
|
3,866 | 3,636 | 2,206 | 4,771 | 6,186 | |||||||||||||||
|
Data processing and communications
|
22,144 | 26,599 | 24,446 | 24,428 | 22,503 | |||||||||||||||
|
Printing, postage and supplies
|
3,311 | 3,637 | 3,780 | 3,586 | 3,082 | |||||||||||||||
|
Net losses and operating expenses
|
||||||||||||||||||||
|
of repossessed assets
|
2,245 | 6,180 | 5,939 | 5,859 | 6,015 | |||||||||||||||
|
Amortization of intangible assets
|
575 | 895 | 896 | 896 | 896 | |||||||||||||||
|
Mortgage banking costs
|
7,573 | 10,154 | 9,349 | 8,968 | 6,471 | |||||||||||||||
|
Change in fair value of mortgage servicing rights
|
(7,127 | ) | 5,261 | 24,822 | 13,493 | (3,129 | ) | |||||||||||||
|
Visa retrospective responsibility obligation
|
- | - | - | - | - | |||||||||||||||
|
Other expense
|
9,871 | 11,348 | 12,873 | 9,016 | 8,745 | |||||||||||||||
|
Total other operating expense
|
185,237 | 219,197 | 220,896 | 203,209 | 178,449 | |||||||||||||||
|
Net income before taxes
|
128,713 | 105,300 | 128,465 | 111,052 | 103,518 | |||||||||||||||
|
Federal and state income taxes
|
45,520 | 37,396 | 43,006 | 39,357 | 38,752 | |||||||||||||||
|
Net income
|
83,193 | 67,904 | 85,459 | 71,695 | 64,766 | |||||||||||||||
|
Net income (loss) attributable to non-controlling interest
|
(422 | ) | 911 | 358 | 2,688 | (8 | ) | |||||||||||||
|
Net income attributable to BOK Financial Corporation
|
$ | 83,615 | $ | 66,993 | $ | 85,101 | $ | 69,007 | $ | 64,774 | ||||||||||
|
Average shares outstanding:
|
||||||||||||||||||||
|
Basic
|
67,665,300 | 67,526,009 | 67,827,591 | 67,898,483 | 67,901,722 | |||||||||||||||
|
Diluted
|
67,941,895 | 67,774,721 | 68,037,419 | 68,169,485 | 68,176,527 | |||||||||||||||
|
Net income per share:
|
||||||||||||||||||||
|
Basic
|
$ | 1.22 | $ | 0.98 | $ | 1.24 | $ | 1.01 | $ | 0.95 | ||||||||||
|
Diluted
|
$ | 1.22 | $ | 0.98 | $ | 1.24 | $ | 1.00 | $ | 0.94 | ||||||||||
|
LOANS BY PRINCIPAL MARKET AREA - UNAUDITED
|
||||||||||||||||||||
|
BOK FINANCIAL CORPORATION
|
||||||||||||||||||||
|
(In thousands)
|
||||||||||||||||||||
| Quarter Ended | ||||||||||||||||||||
|
March 31,
|
December 31,
|
September 30,
|
June 30,
|
March 31,
|
||||||||||||||||
|
2012
|
2011
|
2011
|
2011
|
2011
|
||||||||||||||||
|
Oklahoma:
|
||||||||||||||||||||
|
Commercial
|
$ | 2,953,637 | $ | 2,697,623 | $ | 2,807,979 | $ | 2,594,502 | $ | 2,618,045 | ||||||||||
|
Commercial real estate
|
667,503 | 600,703 | 624,990 | 619,201 | 661,254 | |||||||||||||||
|
Residential mortgage
|
1,436,766 | 1,429,069 | 1,366,953 | 1,309,110 | 1,219,237 | |||||||||||||||
|
Consumer
|
210,361 | 236,056 | 248,851 | 267,550 | 291,412 | |||||||||||||||
|
Total Oklahoma
|
5,268,267 | 4,963,451 | 5,048,773 | 4,790,363 | 4,789,948 | |||||||||||||||
|
Texas:
|
||||||||||||||||||||
|
Commercial
|
2,304,162 | 2,214,462 | 2,069,117 | 2,003,847 | 1,916,270 | |||||||||||||||
|
Commercial real estate
|
812,209 | 830,831 | 741,984 | 711,906 | 687,817 | |||||||||||||||
|
Residential mortgage
|
259,173 | 266,050 | 273,025 | 282,934 | 283,925 | |||||||||||||||
|
Consumer
|
123,604 | 126,280 | 133,286 | 140,044 | 141,199 | |||||||||||||||
|
Total Texas
|
3,499,148 | 3,437,623 | 3,217,412 | 3,138,731 | 3,029,211 | |||||||||||||||
|
New Mexico:
|
||||||||||||||||||||
|
Commercial
|
274,224 | 252,367 | 269,690 | 280,306 | 262,597 | |||||||||||||||
|
Commercial real estate
|
282,966 | 316,853 | 314,701 | 311,565 | 326,104 | |||||||||||||||
|
Residential mortgage
|
104,495 | 100,581 | 93,444 | 95,021 | 90,466 | |||||||||||||||
|
Consumer
|
18,185 | 18,519 | 18,142 | 18,536 | 19,242 | |||||||||||||||
|
Total New Mexico
|
679,870 | 688,320 | 695,977 | 705,428 | 698,409 | |||||||||||||||
|
Arkansas:
|
||||||||||||||||||||
|
Commercial
|
74,364 | 86,111 | 89,262 | 74,677 | 75,889 | |||||||||||||||
|
Commercial real estate
|
129,980 | 127,687 | 124,393 | 121,286 | 124,875 | |||||||||||||||
|
Residential mortgage
|
13,778 | 14,511 | 14,428 | 13,939 | 14,114 | |||||||||||||||
|
Consumer
|
28,932 | 36,061 | 44,163 | 52,439 | 61,746 | |||||||||||||||
|
Total Arkansas
|
247,054 | 264,370 | 272,246 | 262,341 | 276,624 | |||||||||||||||
|
Colorado:
|
||||||||||||||||||||
|
Commercial
|
555,703 | 559,127 | 508,222 | 515,829 | 514,100 | |||||||||||||||
|
Commercial real estate
|
143,753 | 153,855 | 188,659 | 167,414 | 172,416 | |||||||||||||||
|
Residential mortgage
|
60,527 | 64,437 | 65,327 | 66,985 | 67,975 | |||||||||||||||
|
Consumer
|
19,813 | 21,651 | 22,024 | 19,507 | 20,145 | |||||||||||||||
|
Total Colorado
|
779,796 | 799,070 | 784,232 | 769,735 | 774,636 | |||||||||||||||
|
Arizona:
|
||||||||||||||||||||
|
Commercial
|
284,353 | 288,536 | 283,867 | 291,515 | 251,390 | |||||||||||||||
|
Commercial real estate
|
178,633 | 192,731 | 222,249 | 205,269 | 213,442 | |||||||||||||||
|
Residential mortgage
|
73,704 | 82,202 | 85,243 | 86,415 | 89,384 | |||||||||||||||
|
Consumer
|
5,381 | 5,505 | 6,625 | 6,772 | 5,266 | |||||||||||||||
|
Total Arizona
|
542,071 | 568,974 | 597,984 | 589,971 | 559,482 | |||||||||||||||
|
Kansas / Missouri:
|
||||||||||||||||||||
|
Commercial
|
496,198 | 473,228 | 447,552 | 417,920 | 409,966 | |||||||||||||||
|
Commercial real estate
|
49,059 | 57,249 | 42,926 | 47,074 | 37,074 | |||||||||||||||
|
Residential mortgage
|
12,445 | 13,611 | 13,476 | 13,593 | 12,220 | |||||||||||||||
|
Consumer
|
3,536 | 3,847 | 3,991 | 2,388 | 2,265 | |||||||||||||||
|
Total Kansas / Missouri
|
561,238 | 547,935 | 507,945 | 480,975 | 461,525 | |||||||||||||||
|
TOTAL BOK FINANCIAL
|
$ | 11,577,444 | $ | 11,269,743 | $ | 11,124,569 | $ | 10,737,544 | $ | 10,589,835 | ||||||||||
|
DEPOSITS BY PRINCIPAL MARKET AREA - UNAUDITED
|
||||||||||||||||||||
|
BOK FINANCIAL CORPORATION
|
||||||||||||||||||||
|
(In thousands)
|
||||||||||||||||||||
| Quarter Ended | ||||||||||||||||||||
|
March 31,
|
December 31,
|
September 30,
|
June 30,
|
March 31,
|
||||||||||||||||
|
2012
|
2011
|
2011
|
2011
|
2011
|
||||||||||||||||
|
Oklahoma:
|
||||||||||||||||||||
|
Demand
|
$ | 3,445,424 | $ | 3,223,201 | $ | 2,953,410 | $ | 2,486,671 | $ | 2,420,210 | ||||||||||
|
Interest-bearing:
|
||||||||||||||||||||
|
Transaction
|
5,889,625 | 6,050,986 | 6,038,770 | 5,916,784 | 6,068,304 | |||||||||||||||
|
Savings
|
148,556 | 126,763 | 122,829 | 120,278 | 120,020 | |||||||||||||||
|
Time
|
1,370,868 | 1,450,571 | 1,489,486 | 1,462,137 | 1,465,506 | |||||||||||||||
|
Total interest-bearing
|
7,409,049 | 7,628,320 | 7,651,085 | 7,499,199 | 7,653,830 | |||||||||||||||
|
Total Oklahoma
|
10,854,473 | 10,851,521 | 10,604,495 | 9,985,870 | 10,074,040 | |||||||||||||||
|
Texas:
|
||||||||||||||||||||
|
Demand
|
1,876,133 | 1,808,491 | 1,710,315 | 1,528,772 | 1,405,892 | |||||||||||||||
|
Interest-bearing:
|
||||||||||||||||||||
|
Transaction
|
1,734,655 | 1,940,819 | 1,820,116 | 1,741,176 | 1,977,850 | |||||||||||||||
|
Savings
|
50,331 | 45,872 | 42,272 | 42,185 | 40,313 | |||||||||||||||
|
Time
|
789,860 | 867,664 | 938,200 | 992,366 | 1,015,754 | |||||||||||||||
|
Total interest-bearing
|
2,574,846 | 2,854,355 | 2,800,588 | 2,775,727 | 3,033,917 | |||||||||||||||
|
Total Texas
|
4,450,979 | 4,662,846 | 4,510,903 | 4,304,499 | 4,439,809 | |||||||||||||||
|
New Mexico:
|
||||||||||||||||||||
|
Demand
|
333,707 | 319,269 | 325,612 | 299,305 | 282,708 | |||||||||||||||
|
Interest-bearing:
|
||||||||||||||||||||
|
Transaction
|
503,015 | 491,068 | 480,816 | 483,026 | 498,355 | |||||||||||||||
|
Savings
|
32,688 | 27,487 | 26,127 | 24,613 | 24,455 | |||||||||||||||
|
Time
|
392,234 | 410,722 | 431,436 | 449,618 | 453,580 | |||||||||||||||
|
Total interest-bearing
|
927,937 | 929,277 | 938,379 | 957,257 | 976,390 | |||||||||||||||
|
Total New Mexico
|
1,261,644 | 1,248,546 | 1,263,991 | 1,256,562 | 1,259,098 | |||||||||||||||
|
Arkansas:
|
||||||||||||||||||||
|
Demand
|
22,843 | 18,513 | 21,809 | 17,452 | 15,144 | |||||||||||||||
|
Interest-bearing:
|
||||||||||||||||||||
|
Transaction
|
151,708 | 131,181 | 181,486 | 138,954 | 130,613 | |||||||||||||||
|
Savings
|
2,358 | 1,727 | 1,735 | 1,673 | 1,514 | |||||||||||||||
|
Time
|
54,157 | 61,329 | 74,163 | 82,112 | 94,889 | |||||||||||||||
|
Total interest-bearing
|
208,223 | 194,237 | 257,384 | 222,739 | 227,016 | |||||||||||||||
|
Total Arkansas
|
231,066 | 212,750 | 279,193 | 240,191 | 242,160 | |||||||||||||||
|
Colorado:
|
||||||||||||||||||||
|
Demand
|
311,057 | 272,565 | 217,394 | 196,915 | 197,579 | |||||||||||||||
|
Interest-bearing:
|
||||||||||||||||||||
|
Transaction
|
476,718 | 511,993 | 520,743 | 509,738 | 528,948 | |||||||||||||||
|
Savings
|
23,409 | 22,771 | 22,599 | 21,406 | 21,655 | |||||||||||||||
|
Time
|
498,124 | 523,969 | 547,481 | 563,642 | 546,586 | |||||||||||||||
|
Total interest-bearing
|
998,251 | 1,058,733 | 1,090,823 | 1,094,786 | 1,097,189 | |||||||||||||||
|
Total Colorado
|
1,309,308 | 1,331,298 | 1,308,217 | 1,291,701 | 1,294,768 | |||||||||||||||
|
Arizona:
|
||||||||||||||||||||
|
Demand
|
131,539 | 106,741 | 138,971 | 150,194 | 106,880 | |||||||||||||||
|
Interest-bearing:
|
||||||||||||||||||||
|
Transaction
|
95,010 | 104,961 | 101,933 | 107,961 | 102,089 | |||||||||||||||
|
Savings
|
1,772 | 1,192 | 1,366 | 1,364 | 984 | |||||||||||||||
|
Time
|
34,199 | 37,641 | 40,007 | 44,619 | 50,060 | |||||||||||||||
|
Total interest-bearing
|
130,981 | 143,794 | 143,306 | 153,944 | 153,133 | |||||||||||||||
|
Total Arizona
|
262,520 | 250,535 | 282,277 | 304,138 | 260,013 | |||||||||||||||
|
Kansas / Missouri:
|
||||||||||||||||||||
|
Demand
|
68,469 | 51,004 | 46,773 | 46,668 | 28,774 | |||||||||||||||
|
Interest-bearing:
|
||||||||||||||||||||
|
Transaction
|
57,666 | 123,449 | 108,973 | 115,684 | 222,705 | |||||||||||||||
|
Savings
|
505 | 545 | 503 | 358 | 323 | |||||||||||||||
|
Time
|
26,657 | 30,086 | 33,697 | 40,206 | 51,236 | |||||||||||||||
|
Total interest-bearing
|
84,828 | 154,080 | 143,173 | 156,248 | 274,264 | |||||||||||||||
|
Total Kansas / Missouri
|
153,297 | 205,084 | 189,946 | 202,916 | 303,038 | |||||||||||||||
|
TOTAL BOK FINANCIAL
|
$ | 18,523,287 | $ | 18,762,580 | $ | 18,439,022 | $ | 17,585,877 | $ | 17,872,926 | ||||||||||
|
NET INTEREST MARGIN TREND - UNAUDITED
|
|||||||||
|
BOK FINANCIAL CORPORATION
|
|||||||||
|
|
Quarter Ended | ||||||||
|
March 31,
|
December 31,
|
September 30,
|
June 30,
|
March 31,
|
|||||
|
2012
|
2011
|
2011
|
2011
|
2011
|
|||||
|
TAX-EQUIVALENT ASSETS YIELDS
|
|||||||||
|
Funds sold and resell agreements
|
0.07%
|
0.10%
|
0.16%
|
0.14%
|
0.08%
|
||||
|
Trading securities
|
1.88%
|
2.79%
|
2.85%
|
2.92%
|
3.84%
|
||||
|
Investment securities:
|
|||||||||
|
Taxable (A)
|
5.89%
|
5.91%
|
5.63%
|
6.13%
|
6.15%
|
||||
|
Tax-exempt (A)
|
4.87%
|
4.81%
|
4.94%
|
4.82%
|
4.88%
|
||||
|
Total investment securities (A)
|
5.59%
|
5.59%
|
5.35%
|
5.49%
|
5.46%
|
||||
|
Available for sale securities:
|
|||||||||
|
Taxable (A)
|
2.48%
|
2.36%
|
2.82%
|
3.02%
|
3.15%
|
||||
|
Tax-exempt (A)
|
5.17%
|
5.14%
|
4.92%
|
5.12%
|
5.68%
|
||||
|
Total available for sale securities (A)
|
2.50%
|
2.38%
|
2.83%
|
3.04%
|
3.17%
|
||||
|
Fair value option securities
|
2.79%
|
2.98%
|
3.66%
|
4.42%
|
3.74%
|
||||
|
Residential mortgage loans held for sale
|
3.90%
|
4.01%
|
4.09%
|
4.48%
|
4.33%
|
||||
|
Loans
|
4.50%
|
4.65%
|
4.71%
|
4.69%
|
4.75%
|
||||
|
Less allowance for loan losses
|
–
|
–
|
–
|
–
|
–
|
||||
|
Loans, net of allowance
|
4.61%
|
4.76%
|
4.84%
|
4.82%
|
4.89%
|
||||
|
Total tax-equivalent yield on earning assets (A)
|
3.64%
|
3.69%
|
3.91%
|
4.01%
|
4.10%
|
||||
|
COST OF INTEREST-BEARING LIABILITIES
|
|||||||||
|
Interest-bearing deposits:
|
|||||||||
|
Interest-bearing transaction
|
0.17%
|
0.18%
|
0.23%
|
0.27%
|
0.32%
|
||||
|
Savings
|
0.24%
|
0.26%
|
0.34%
|
0.39%
|
0.37%
|
||||
|
Time
|
1.68%
|
1.70%
|
1.84%
|
1.86%
|
1.82%
|
||||
|
Total interest-bearing deposits
|
0.55%
|
0.59%
|
0.68%
|
0.71%
|
0.72%
|
||||
|
Funds purchased
|
0.09%
|
0.06%
|
0.05%
|
0.09%
|
0.16%
|
||||
|
Repurchase agreements
|
0.09%
|
0.13%
|
0.17%
|
0.20%
|
0.40%
|
||||
|
Other borrowings
|
5.58%
|
4.75%
|
5.26%
|
4.76%
|
1.31%
|
||||
|
Subordinated debt
|
5.62%
|
5.61%
|
5.60%
|
5.57%
|
5.67%
|
||||
|
Total cost of interest-bearing liabilities
|
0.63%
|
0.66%
|
0.76%
|
0.81%
|
0.80%
|
||||
|
Tax-equivalent net interest revenue spread
|
3.01%
|
3.03%
|
3.15%
|
3.20%
|
3.30%
|
||||
|
Effect of noninterest-bearing funding sources and other
|
0.18%
|
0.17%
|
0.19%
|
0.20%
|
0.17%
|
||||
|
Tax-equivalent net interest margin
|
3.19%
|
3.20%
|
3.34%
|
3.40%
|
3.47%
|
||||
|
(A) Yield calculations exclude security trades that have been recorded on trade date with no corresponding interest income.
|
|||||||||
|
CREDIT QUALITY INDICATORS
|
||||||||||||||||||||
|
BOK FINANCIAL CORPORATION
|
||||||||||||||||||||
|
(In thousands, except ratios)
|
Quarter Ended | |||||||||||||||||||
|
March 31,
|
December 31,
|
September 30,
|
June 30,
|
March 31,
|
||||||||||||||||
|
2012
|
2011
|
2011
|
2011
|
2011
|
||||||||||||||||
|
Nonperforming assets:
|
||||||||||||||||||||
|
Nonaccruing loans:
|
||||||||||||||||||||
|
Commercial
|
$ | 61,750 | $ | 68,811 | $ | 83,736 | $ | 53,365 | $ | 57,449 | ||||||||||
|
Commercial real estate
|
86,475 | 99,193 | 110,048 | 110,363 | 125,504 | |||||||||||||||
|
Residential mortgage
|
27,462 | 29,767 | 31,731 | 31,693 | 37,824 | |||||||||||||||
|
Consumer
|
7,672 | 3,515 | 3,960 | 4,749 | 5,185 | |||||||||||||||
|
Total nonaccruing loans
|
183,359 | 201,286 | 229,475 | 200,170 | 225,962 | |||||||||||||||
|
Renegotiated loans (A)
|
36,764 | 32,893 | 30,477 | 22,261 | 21,705 | |||||||||||||||
|
Real estate and other repossessed assets
|
115,790 | 122,753 | 127,943 | 129,026 | 131,420 | |||||||||||||||
|
Total nonperforming assets
|
$ | 335,913 | $ | 356,932 | $ | 387,895 | $ | 351,457 | $ | 379,087 | ||||||||||
|
Nonaccruing loans by principal market:
|
||||||||||||||||||||
|
Oklahoma
|
$ | 64,097 | $ | 65,261 | $ | 73,794 | $ | 41,411 | $ | 49,585 | ||||||||||
|
Texas
|
29,745 | 28,083 | 29,783 | 32,385 | 34,404 | |||||||||||||||
|
New Mexico
|
15,029 | 15,297 | 17,242 | 17,244 | 17,510 | |||||||||||||||
|
Arkansas
|
18,066 | 23,450 | 26,831 | 24,842 | 29,769 | |||||||||||||||
|
Colorado
|
28,990 | 33,522 | 36,854 | 37,472 | 40,629 | |||||||||||||||
|
Arizona
|
27,397 | 35,673 | 44,929 | 43,307 | 54,065 | |||||||||||||||
|
Kansas / Missouri
|
35 | - | 42 | 3,509 | - | |||||||||||||||
|
Total nonaccruing loans
|
$ | 183,359 | $ | 201,286 | $ | 229,475 | $ | 200,170 | $ | 225,962 | ||||||||||
|
Nonaccruing loans by loan portfolio sector:
|
||||||||||||||||||||
|
Commercial:
|
||||||||||||||||||||
|
Energy
|
$ | 336 | $ | 336 | $ | 3,900 | $ | 345 | $ | 415 | ||||||||||
|
Manufacturing
|
23,402 | 23,051 | 27,691 | 4,366 | 4,545 | |||||||||||||||
|
Wholesale / retail
|
15,388 | 21,180 | 27,088 | 25,138 | 30,411 | |||||||||||||||
|
Integrated food services
|
– | – | – | – | 6 | |||||||||||||||
|
Services
|
12,890 | 16,968 | 18,181 | 16,254 | 15,720 | |||||||||||||||
|
Healthcare
|
7,946 | 5,486 | 5,715 | 5,962 | 2,574 | |||||||||||||||
|
Other commercial and industrial
|
1,788 | 1,790 | 1,161 | 1,300 | 3,778 | |||||||||||||||
|
Total commercial
|
61,750 | 68,811 | 83,736 | 53,365 | 57,449 | |||||||||||||||
|
Commercial real estate:
|
||||||||||||||||||||
|
Construction and land development
|
52,416 | 61,874 | 72,207 | 76,265 | 90,707 | |||||||||||||||
|
Retail
|
6,193 | 6,863 | 6,492 | 4,642 | 5,276 | |||||||||||||||
|
Office
|
10,733 | 11,457 | 11,967 | 11,473 | 14,628 | |||||||||||||||
|
Multifamily
|
3,414 | 3,513 | 4,036 | 4,717 | 1,900 | |||||||||||||||
|
Industrial
|
– | – | – | – | – | |||||||||||||||
|
Other commercial real estate
|
13,719 | 15,486 | 15,346 | 13,266 | 12,993 | |||||||||||||||
|
Total commercial real estate
|
86,475 | 99,193 | 110,048 | 110,363 | 125,504 | |||||||||||||||
|
Residential mortgage:
|
||||||||||||||||||||
|
Permanent mortgage
|
22,822 | 25,366 | 27,486 | 27,991 | 33,466 | |||||||||||||||
|
Home equity
|
4,640 | 4,401 | 4,245 | 3,702 | 4,358 | |||||||||||||||
|
Total residential mortgage
|
27,462 | 29,767 | 31,731 | 31,693 | 37,824 | |||||||||||||||
|
Consumer
|
7,672 | 3,515 | 3,960 | 4,749 | 5,185 | |||||||||||||||
|
Total nonaccruing loans
|
$ | 183,359 | $ | 201,286 | $ | 229,475 | $ | 200,170 | $ | 225,962 | ||||||||||
|
|
||||||||||||||||||||
|
Performing loans 90 days past due (B)
|
$ | 6,140 | $ | 2,498 | $ | 1,401 | $ | 2,341 | $ | 8,043 | ||||||||||
|
Gross charge-offs
|
$ | 13,674 | $ | 14,771 | $ | 14,023 | $ | 12,774 | $ | 15,232 | ||||||||||
|
Recoveries
|
5,189 | 5,311 | 3,869 | 4,256 | 4,914 | |||||||||||||||
|
Net charge-offs
|
$ | 8,485 | $ | 9,460 | $ | 10,154 | $ | 8,518 | $ | 10,318 | ||||||||||
|
Provision for (reduction of) allowances for credit losses
|
$ | – | $ | (15,000 | ) | $ | – | $ | 2,700 | $ | 6,250 | |||||||||
|
Allowance for loan losses to period end loans
|
2.11 | % | 2.25 | % | 2.44 | % | 2.67 | % | 2.73 | % | ||||||||||
|
Combined allowance for credit losses to period end loans
|
2.20 | % | 2.33 | % | 2.58 | % | 2.77 | % | 2.86 | % | ||||||||||
|
Nonperforming assets to period end loans
and repossessed assets
|
2.87 | % | 3.13 | % | 3.45 | % | 3.23 | % | 3.54 | % | ||||||||||
|
Net charge-offs (annualized) to average loans
|
0.30 | % | 0.34 | % | 0.37 | % | 0.32 | % | 0.39 | % | ||||||||||
|
Allowance for loan losses to nonaccruing loans
|
133.19 | % | 125.93 | % | 118.29 | % | 143.18 | % | 128.14 | % | ||||||||||
|
Combined allowance for credit losses to nonaccruing loans
|
138.24 | % | 130.53 | % | 125.16 | % | 148.55 | % | 134.17 | % | ||||||||||
|
|
||||||||||||||||||||
|
(A) includes residential mortgage loans guaranteed by
|
$ | 32,770 | $ | 28,974 | $ | 26,670 | $ | 18,716 | $ | 18,304 | ||||||||||
|
agencies of the U.S. government. These loans
|
||||||||||||||||||||
|
have been modified to extend payment terms and/or
|
||||||||||||||||||||
|
reduce interest rates to current market.
|
||||||||||||||||||||
|
(B) Excludes residential mortgage loans guaranteed by
|
||||||||||||||||||||
|
agencies of the U.S. government
|
||||||||||||||||||||