EX-99 4 fs063003.txt (B) FINANCIAL INFORMATION BOK FINANCIAL CORPORATION (In thousands, except ratio and per share data) Period End Balances Average Balances ------------------------------------- ------------------------------------ June 30, Quarter Ended June 30, ------------------------------------- ------------------------------------ BALANCE SHEETS 2003 2002 2003 2002 ---------------- ---------------- ---------------- ----------------- ASSETS Cash and due from banks $ 718,497 $ 495,186 $ 441,063 $ 413,746 Trading securities 38,143 35,648 12,207 19,989 Funds sold 10,395 39,750 16,669 17,148 Securities: Available for sale 4,936,363 3,646,708 4,360,313 3,695,376 Held for investment 192,185 197,324 192,970 219,974 ---------------- ---------------- ---------------- ----------------- Total securities 5,128,548 3,844,032 4,553,283 3,915,350 Loans: Commercial 4,089,988 3,657,571 4,048,702 3,606,220 Commercial real estate 1,463,851 1,362,699 1,448,554 1,343,384 Residential mortgage 1,066,210 878,546 1,055,395 866,539 Consumer 422,839 414,571 418,254 408,991 ---------------- ---------------- ---------------- ----------------- Total loans 7,042,888 6,313,387 6,970,905 6,225,134 Less allowance for loan losses (122,772) (108,084) (123,095) (109,366) ---------------- ---------------- ---------------- ----------------- Total loans, net 6,920,116 6,205,303 6,847,810 6,115,768 Premises and equipment, net 160,474 139,187 156,740 139,055 Accrued revenue receivable 66,689 60,139 62,493 62,772 Intangible assets, net 194,478 147,807 195,351 148,313 Mortgage servicing rights, net 31,141 77,202 31,873 91,655 Real estate and other repossessed assets 5,713 6,630 5,848 7,519 Receivable on unsettled security transactions - - 4,434 - Bankers' acceptances 33,857 23,431 35,868 19,769 Derivative contracts 142,605 48,202 166,850 50,188 Other assets 114,217 69,800 111,604 72,903 ---------------- ---------------- ---------------- ----------------- TOTAL ASSETS $ 13,564,873 $ 11,192,317 $ 12,642,093 $ 11,074,175 ================ ================ ================ ================= LIABILITIES AND EQUITY CAPITAL Deposits: Demand $ 1,746,666 $ 1,236,014 $ 1,252,076 $ 1,129,412 Interest-bearing transaction 3,435,287 2,704,482 3,523,932 2,740,454 Savings 169,540 164,119 172,258 165,496 Time deposits 3,339,689 3,077,631 3,491,055 2,969,488 ---------------- ---------------- ---------------- ----------------- Total deposits 8,691,182 7,182,246 8,439,321 7,004,850 Federal funds purchased and repurchase agreements 1,723,711 1,355,477 1,515,597 1,485,816 Other borrowed funds 1,057,476 890,370 1,053,573 1,032,685 Subordinated debentures 154,977 185,860 155,078 185,968 Accrued interest, taxes, and expenses 65,316 71,673 63,200 61,115 Due on unsettled security transactions 460,514 469,423 - 300,517 Bankers' acceptances 33,857 23,431 35,868 19,769 Derivative contracts 136,485 44,412 158,382 53,140 Other liabilities 59,744 43,980 58,056 42,627 ---------------- ---------------- ---------------- ----------------- TOTAL LIABILITIES 12,383,262 10,266,872 11,479,075 10,186,487 Equity Capital: Stockholders' equity 1,138,098 891,585 1,117,061 870,691 Unrealized securities gains (losses) 43,513 33,860 45,957 16,997 ---------------- ---------------- ---------------- ----------------- TOTAL EQUITY CAPITAL 1,181,611 925,445 1,163,018 887,688 ---------------- ---------------- ---------------- ---------------- TOTAL LIABILITIES AND EQUITY CAPITAL $ 13,564,873 $ 11,192,317 $ 12,642,093 $ 11,074,175 ================ ================ ================ ================
For the Quarters Ended For the Six Months Ended ------------------------------------- ------------------------------------ June 30, June 30, ------------------------------------- ------------------------------------ STATEMENTS OF EARNINGS 2003 2002 2003 2002 ---------------- ---------------- ---------------- ----------------- Interest revenue $ 141,534 $ 142,997 $ 283,486 $ 286,727 Interest expense 43,967 52,716 90,408 105,379 ---------------- ---------------- ---------------- ----------------- Net interest revenue 97,567 90,281 193,078 181,348 Provision for loan losses 9,503 6,834 19,415 15,700 ---------------- ---------------- ---------------- ---------------- Net interest revenue after provision for loan losses 88,064 83,447 173,663 165,648 Other operating revenue Brokerage and trading revenue 10,032 6,299 18,711 12,366 Transaction card revenue 15,138 13,439 28,737 25,925 Trust fees and commissions 10,845 10,300 21,025 20,674 Service charges and fees on deposit accounts 19,606 16,391 38,590 30,246 Mortgage banking revenue, net 16,609 10,759 32,144 21,411 Leasing revenue 795 822 1,654 1,714 Other revenue 5,992 5,698 10,993 10,740 ---------------- ---------------- ---------------- ---------------- Total fees and commissions 79,017 63,708 151,854 123,076 Gain on sale of other assets 8 7 738 683 Gain (loss) on sales of securities, net 10,457 21,602 20,146 14,021 Gain (loss) on derivatives (1,121) (1,453) (2,223) (1,989) ---------------- ---------------- ---------------- ----------------- Total other operating revenue 88,361 83,864 170,515 135,791 Other operating expense Personnel 52,429 44,885 105,061 88,217 Business promotion 2,781 3,208 6,252 6,086 Professional fees and services 5,404 3,732 9,169 6,640 Net occupancy & equipment 11,240 10,299 22,301 20,639 Data processing & communications 14,019 11,216 26,662 21,654 FDIC and other insurance 530 483 1,046 922 Printing, postage and supplies 3,523 3,018 6,882 6,075 Net (gains) losses and operating expenses on repossessed assets 335 656 343 703 Amortization of intangible assets 1,777 1,882 3,554 3,769 Mortgage banking costs 11,481 7,791 25,923 16,148 Provision (recovery) for impairment of mortgage servicing rights 3,353 23,774 (4,477) 18,496 Other expense 4,916 2,854 7,998 7,600 ---------------- ---------------- ---------------- ----------------- Total other operating expense 111,788 113,798 210,714 196,949 Income before taxes 64,637 53,513 133,464 104,490 Federal and state income taxes 23,140 18,944 47,780 36,989 ---------------- ---------------- ---------------- ----------------- Net Income $ 41,497 $ 34,569 $ 85,684 $ 67,501 ================ ================ ================ =================
For the Quarters Ended For the Six Months Ended ------------------------------------- ------------------------------------ June 30, June 30, ------------------------------------- ------------------------------------ FINANCIAL DATA 2003 2002 2003 2002 ---------------- ---------------- ---------------- ----------------- Capital: Average equity $ 1,163,018 $ 887,688 $ 1,139,671 $ 870,625 Period-end equity $ 1,181,611 $ 925,445 $ 1,181,611 $ 925,445 Risk-based capital ratios: Tier 1 9.32% 8.69% Total capital 11.85% 12.12% Leverage ratio 7.21% 6.78% Common stock: Book value per share $ 20.46 $ 16.69 $ 20.46 $ 16.69 ================ ================ ================ ================= Basic earnings per share $ 0.72 $ 0.63 $ 1.49 $ 1.22 ================ ================ ================ ================= Diluted earnings per share $ 0.64 $ 0.56 $ 1.33 $ 1.09 ================ ================ ================ ================= Period end common shares outstanding 57,032,291 54,566,660 57,032,291 54,566,660 Average shares outstanding: Basic 56,939,759 54,573,079 56,880,774 54,522,612 Diluted 64,569,404 62,111,878 64,499,792 62,016,881 Key ratios: Return on average assets 1.32% 1.25% 1.39% 1.24% Return on average equity 14.31% 15.62% 15.16% 15.63% Net interest margin 3.47% 3.77% 3.52% 3.82% Credit Quality: Nonperforming assets: Nonaccrual loans $ 55,619 $ 38,282 Real estate and other repossessed assets 5,713 6,630 ---------------- ---------------- Total nonperforming assets $ 61,332 $ 44,912 ================ ================ 90-day past due $ 6,996 $ 12,215 ================ ================ Gross charge-offs $ 7,719 $ 5,647 $ 15,770 $ 11,903 Recoveries 1,289 997 3,057 2,382 ---------------- ---------------- ---------------- ----------------- Net charge-offs (recoveries) $ 6,430 $ 4,650 $ 12,713 $ 9,521 ================ ================ ================ ================= Key ratios: Reserve for loan losses to period end loans (A) 1.78% 1.73% Nonperforming assets to period end loans (A) and repossessed assets 0.89% 0.72% Net charge-offs (annualized) to average loans (A) 0.38% 0.30% 0.37% 0.31% Reserve for loan losses to nonperforming loans 220.74% 282.34% (A) Excluding residential mortgage loans held for sale.
For the Quarters Ended For the Six Months Ended ------------------------------------- ------------------------------------ June 30, June 30, ------------------------------------- ------------------------------------ 2003 2002 2003 2002 ---------------- ---------------- ---------------- ----------------- Other Data: Average earning assets $ 11,429,969 $ 10,068,255 $ 11,286,142 $ 9,980,715 Average total assets $ 12,642,093 $ 11,074,175 $ 12,467,323 $ 10,982,434 Average equity $ 1,163,018 $ 887,688 $ 1,139,671 $ 870,625 Average loans $ 6,970,905 $ 6,225,134 $ 6,960,069 $ 6,194,769 Loans held for sale (Period end) $ 144,890 $ 82,715 $ 144,890 $ 82,715 Loans held for sale (Average) $ 132,922 $ 71,774 $ 127,614 $ 97,072 Tax equivalent adjustment $ 1,327 $ 1,632 $ 2,730 $ 3,328 Preferred stock dividends - BOKF $ 375 $ 375 $ 750 $ 750 Period end common shares O/S 57,032,291 54,566,660 57,032,291 54,566,660 Period end fully diluted shares 64,661,936 62,105,459 64,661,936 62,105,459 Number of days in period 91 91 181 181 Tangible Book Value per Common Share $ 17.05 $ 13.98 $ 16.70 $ 13.28 ================ ================ ================ ================= Stock Buy Back Program: Stock buy back # shares - - - - Stock buy back account $ - $ - $ - $ - ---------------- ---------------- ---------------- ----------------- Average price per share $ - $ - $ - $ - ================ ================ ================ ================= Mortgage Banking: Mortgage servicing portfolio $ 4,803,824 $ 6,054,792 Mortgage loan fundings during quarter $ 399,928 $ 185,369 $ 731,353 $ 393,048 Mortgage loan refinances to total fundings 68.70% 29.62% 71.27% 41.05% Trust Assets: Total trust assets $ 18,561,763 $ 17,925,151