EX-99 3 fs063004.txt (B) FINANCIAL INFORMATION BOK FINANCIAL CORPORATION EXHIBIT 99 (b) (In thousands, except ratio and per share data) Period End Balances Average Balances ----------------------------------- ------------------------------- June 30, Quarter Ended June 30, ----------------------------------- ------------------------------- BALANCE SHEETS 2004 2003 2004 2003 -------------- ---------------- ------------- --------------- ASSETS Cash and due from banks $ 574,549 $ 718,497 $ 507,731 $ 441,063 Trading securities 15,133 38,143 23,513 12,207 Funds sold 148,035 10,395 16,284 16,669 Securities: Available for sale 4,572,027 5,000,436 4,667,580 4,381,671 Held for investment 205,933 192,185 200,160 192,970 -------------- ---------------- ------------- --------------- Total securities 4,777,960 5,192,621 4,867,740 4,574,641 Loans: Commercial 4,333,701 4,089,988 4,347,041 4,048,702 Commercial real estate 1,589,542 1,463,851 1,594,192 1,448,554 Residential mortgage 1,159,433 1,066,210 1,163,186 1,055,395 Consumer 442,424 422,839 443,838 418,254 --------------- --------------- -------------- ---------------- Total loans 7,525,100 7,042,888 7,548,257 6,970,905 Less allowance for loan losses (128,905) (122,772) (131,310) (123,095) --------------- --------------- -------------- ---------------- Total loans, net 7,396,195 6,920,116 7,416,947 6,847,810 Premises and equipment, net 173,798 160,474 173,184 156,740 Accrued revenue receivable 76,422 66,689 65,789 62,493 Intangible assets, net 246,539 194,478 247,667 195,351 Mortgage servicing rights, net 53,000 31,141 50,173 31,873 Real estate and other repossessed assets 4,776 5,713 5,876 5,848 Receivable on unsettled security transactions 8,018 - - - Bankers' acceptances 18,783 33,857 21,713 35,868 Derivative contracts 294,900 142,605 285,311 166,850 Other assets 199,888 116,527 172,397 111,604 -------------- ---------------- ------------- --------------- TOTAL ASSETS $ 13,987,996 $ 13,631,256 $ 13,854,325 $ 12,659,017 ============== ================ ============= =============== LIABILITIES AND SHAREHOLDERS' EQUITY Deposits: Demand $ 1,877,492 $ 1,746,666 $ 1,799,249 $ 1,252,076 Interest-bearing transaction 3,892,166 3,435,287 3,859,706 3,523,932 Savings 169,826 169,540 173,566 172,258 Time deposits 3,670,825 3,339,689 3,565,324 3,491,055 -------------- ---------------- ------------- --------------- Total deposits 9,610,309 8,691,182 9,397,845 8,439,321 Federal funds purchased and repurchase agreements 1,497,685 1,723,711 1,565,922 1,515,597 Other borrowed funds 1,016,327 1,057,476 1,009,871 1,053,573 Subordinated debentures 151,538 154,977 152,799 155,078 Accrued interest, taxes, and expenses 49,692 65,316 59,740 63,200 Due on unsettled security transactions - 518,782 733 16,924 Bankers' acceptances 18,783 33,857 21,713 35,868 Derivative contracts 307,102 136,485 292,019 158,382 Other liabilities 77,485 64,280 78,575 58,056 -------------- ---------------- ------------- --------------- TOTAL LIABILITIES 12,728,921 12,446,066 12,579,217 11,495,999 Shareholders' Equity: Shareholders' equity 1,307,039 1,141,677 1,277,036 1,117,061 Unrealized securities gains (47,964) 43,513 (1,928) 45,957 -------------- ---------------- ------------- --------------- TOTAL SHAREHOLDERS' EQUITY 1,259,075 1,185,190 1,275,108 1,163,018 -------------- ---------------- ------------- --------------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 13,987,996 $ 13,631,256 $ 13,854,325 $ 12,659,017 ============== ================ ============= ===============
For the Quarter Ended For the Six Months Ended ----------------------------------- ------------------------------- June 30, June 30, ----------------------------------- ------------------------------- STATEMENTS OF EARNINGS 2004 2003 2004 2003 -------------- ---------------- ------------- --------------- Interest revenue $ 147,349 $ 141,534 $ 293,355 $ 283,486 Interest expense 42,160 43,597 84,959 89,728 -------------- ---------------- ------------- --------------- Net interest revenue 105,189 97,937 208,396 193,758 Provision for loan losses 3,987 9,503 11,014 19,415 -------------- ---------------- ------------- --------------- Net interest revenue after provision for loan losses 101,202 88,434 197,382 174,343 Other operating revenue Brokerage and trading revenue 11,166 10,459 21,177 19,673 Transaction card revenue 16,817 14,059 31,541 26,735 Trust fees and commissions 13,939 10,845 27,648 21,025 Service charges and fees on deposit accounts 23,928 19,606 46,083 38,590 Mortgage banking revenue, net 7,555 16,609 15,299 32,144 Leasing revenue 860 795 1,747 1,654 Other revenue 5,774 5,555 12,398 10,215 -------------- ---------------- ------------- --------------- Total fees and commissions 80,039 77,928 155,893 150,036 Gain on sale of other assets 35 8 719 738 Gain (loss) on sales of securities, net (11,005) 10,457 (6,728) 20,146 Gain (loss) on derivatives 201 (1,111) (794) (2,407) -------------- ---------------- ------------- --------------- Total other operating revenue 69,270 87,282 149,090 168,513 Other operating expense Personnel 59,810 53,584 118,019 107,368 Business promotion 3,831 2,781 7,181 6,252 Contribution of stock to BOk Charitable Foundation - - 4,125 - Professional fees and services 3,994 5,404 7,893 9,169 Net occupancy and equipment 11,732 11,240 23,583 22,301 Data processing and communications 15,270 12,940 29,911 24,660 FDIC and other insurance 667 530 1,271 1,046 Printing, postage and supplies 3,130 3,523 6,447 6,882 Net (gains) losses and operating expenses on repossessed assets (169) 335 (55) 343 Amortization of intangible assets 2,121 1,777 4,259 3,554 Mortgage banking costs 4,433 11,481 10,276 25,923 Provision (recovery) for impairment of mortgage servicing rights (10,865) 3,353 (7,162) (4,477) Other expense 5,038 5,286 9,692 8,678 -------------- ---------------- ------------- --------------- Total other operating expense 98,992 112,234 215,440 211,699 Income before taxes 71,480 63,482 131,032 131,157 Federal and state income taxes 25,947 22,707 46,347 46,915 -------------- ---------------- ------------- --------------- Net Income $ 45,533 $ 40,775 $ 84,685 $ 84,242 ============== ================ ============= ===============
For the Quarter Ended For the Six Months Ended ----------------------------------- ------------------------------- June 30, June 30, ----------------------------------- ------------------------------- FINANCIAL DATA 2004 2003 2004 2003 -------------- ---------------- ------------- --------------- Capital: Average equity $ 1,275,108 $ 1,163,018 $ 1,262,988 $ 1,139,671 Period-end equity $ 1,259,075 $ 1,185,190 $ 1,259,075 $ 1,185,190 Risk-based capital ratios: Tier 1 9.79% 9.32% Total capital 11.90% 11.85% Leverage ratio 7.52% 7.21% Common stock: Book value per share $ 21.03 $ 19.92 $ 21.03 $ 19.92 ============== ================ ============= =============== Basic earnings per share $ 0.76 $ 0.69 $ 1.42 $ 1.43 ============== ================ ============= =============== Diluted earnings per share $ 0.68 $ 0.61 $ 1.27 $ 1.27 ============== ================ ============= =============== Period end common shares outstanding 59,163,047 58,743,260 59,163,047 58,743,260 Average shares outstanding: Basic 59,146,624 58,647,952 59,098,913 58,587,197 Diluted 66,719,734 66,506,486 66,688,766 66,434,786 Key ratios: Return on average assets 1.32% 1.29% 1.24% 1.36% Return on average equity 14.36% 14.06% 13.48% 14.91% Net interest margin 3.46% 3.48% 3.46% 3.53% Credit Quality: Nonperforming assets: Nonaccrual loans $ 57,610 $ 55,619 Real estate and other repossessed assets 4,776 5,713 -------------- ---------------- Total nonperforming assets $ 62,386 $ 61,332 ============== ================ 90-day past due $ 10,280 $ 6,996 ============== ================ Gross charge-offs $ 6,672 $ 7,719 $ 14,634 $ 15,770 Recoveries 1,752 1,289 3,886 3,057 -------------- ---------------- ------------- --------------- Net charge-offs (recoveries) $ 4,920 $ 6,430 $ 10,748 $ 12,713 ============== ================ ============= =============== Key ratios: Reserve for loan losses to period end loans (A) 1.73% 1.78% Nonperforming assets to period end loans (A) and repossessed assets 0.84% 0.89% Net charge-offs (annualized) to average loans (A) 0.26% 0.38% 0.29% 0.38% Reserve for loan losses to nonperforming loans 223.75% 220.74% (A) Excluding residential mortgage loans held for sal
For the Quarter Ended For the Six Months Ended ----------------------------------- ------------------------------- June 30, June 30, ----------------------------------- ------------------------------- 2004 2003 2004 2003 -------------- ---------------- ------------- --------------- Other Data: Average earning assets, net of unsettled security transactions $ 12,337,278 $ 11,434,403 $ 12,229,208 $ 11,225,120 Average total assets $ 13,854,325 $ 12,659,017 $ 13,703,162 $ 12,467,323 Average equity $ 1,275,108 $ 1,163,018 $ 1,262,988 $ 1,139,671 Average loans $ 7,548,257 $ 6,970,905 $ 7,521,485 $ 6,960,069 Loans held for sale (Period end) $ 79,034 $ 144,890 $ 79,034 $ 144,890 Loans held for sale (Average) $ 97,348 $ 132,922 $ 84,718 $ 127,614 Tax equivalent adjustment $ 1,089 $ 1,327 $ 2,286 $ 2,730 Preferred stock dividends - BOKF $ 375 $ 375 $ 750 $ 750 Period end common shares O/S 59,163,047 58,743,260 59,163,047 58,743,260 Period end fully diluted shares 66,736,157 66,601,794 66,736,157 66,601,794 Number of days in period 91 91 182 181 Tangible Book Value per Common Share $ 16.86 $ 16.61 $ 17.11 $ 16.22 ============== ================ ============= =============== Stock Buy Back Program: Stock buy back # shares - - - - Stock buy back account $ - $ - $ - $ - -------------- ---------------- ------------- --------------- Average price per share $ - $ - $ - $ - ============== ================ ============= =============== Mortgage Banking: Mortgage servicing portfolio $ 4,127,875 $ 4,803,824 Mortgage loan fundings during quarter $ 197,150 $ 399,928 $ 356,791 $ 731,353 Mortgage loan refinances to total fundings 36.78% 68.70% 39.47% 71.27% Trust Assets: Total trust assets $ 22,938,606 $ 17,232,446