EX-99 3 fs033105.txt (B) FINANCIAL INFORMATION BOK FINANCIAL CORPORATION Exhibit 99 (b) (In thousands, except ratio and per share data) Period End Balances Average Balances -------------------------------------- ------------------------------------- March 31, Quarter Ended March 31, -------------------------------------- ------------------------------------- BALANCE SHEETS 2005 2004 2005 2004 ---------------- ----------------- ---------------- ----------------- ASSETS Cash and due from banks $ 505,412 $ 554,511 $ 558,472 $ 482,558 Trading securities 13,381 18,155 17,205 15,499 Funds sold 14,861 12,800 30,003 7,995 Securities: Available for sale 4,579,980 4,677,148 4,624,110 4,594,569 Held for investment 224,425 198,679 221,694 193,929 ---------------- ----------------- ---------------- ----------------- Total securities 4,804,405 4,875,827 4,845,804 4,788,498 Loans: Commercial 4,590,846 4,319,665 4,521,492 4,316,205 Commercial real estate 1,717,785 1,619,225 1,691,379 1,618,109 Residential mortgage 1,259,451 1,115,952 1,240,663 1,115,213 Consumer 517,884 445,734 509,643 445,186 ---------------- ----------------- ---------------- ----------------- Total loans 8,085,966 7,500,576 7,963,177 7,494,713 Less reserve for loan losses (108,958) (114,988) (111,955) (117,644) ---------------- ----------------- ---------------- ----------------- Total loans, net 7,977,008 7,385,588 7,851,222 7,377,069 Premises and equipment, net 172,118 173,079 171,852 174,040 Accrued revenue receivable 78,577 69,619 73,680 62,398 Intangible assets, net 241,057 248,660 241,809 249,794 Mortgage servicing rights, net 50,105 42,352 45,570 46,263 Real estate and other repossessed assets 3,187 5,954 3,822 6,695 Receivable on unsettled securities transactions 50,115 - 3,265 - Bankers' acceptances 23,513 23,117 25,741 23,945 Derivative contracts 720,087 230,464 427,837 171,394 Other assets 336,080 134,836 256,632 140,704 ---------------- ----------------- ---------------- ----------------- TOTAL ASSETS $ 14,989,906 $ 13,774,962 $ 14,552,914 $ 13,546,852 ================ ================= ================ ================= LIABILITIES AND SHAREHOLDERS' EQUITY Deposits: Demand $ 1,940,789 $ 1,921,263 $ 1,895,989 $ 1,643,638 Interest-bearing transaction 3,905,998 3,838,615 3,920,844 3,819,981 Savings 166,323 178,088 159,276 174,958 Time deposits 3,721,430 3,427,608 3,685,257 3,395,785 ---------------- ----------------- ---------------- ----------------- Total deposits 9,734,540 9,365,574 9,661,366 9,034,362 Federal funds purchased and repurchase agreements 1,881,559 1,480,246 1,704,327 1,675,722 Other borrowed funds 873,217 1,012,745 971,616 1,010,414 Subordinated debenture 149,117 154,027 150,752 154,175 Accrued interest, taxes, and expenses 76,904 69,415 81,310 71,807 Bankers' acceptances 23,513 23,117 25,741 23,945 Due on unsettled securities transactions - 39,100 - 57,903 Derivative contracts 735,397 231,803 438,934 172,295 Other liabilities 100,455 103,064 107,449 95,361 ---------------- ----------------- ---------------- ----------------- TOTAL LIABILITIES 13,574,702 12,479,091 13,141,495 12,295,984 Shareholders' Equity: Shareholders' equity 1,466,193 1,260,475 1,427,772 1,232,719 Unrealized securities gains (losses) (50,989) 35,396 (16,353) 18,149 ---------------- ----------------- ---------------- ----------------- TOTAL SHAREHOLDERS' EQUITY 1,415,204 1,295,871 1,411,419 1,250,868 ---------------- ----------------- ---------------- ----------------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 14,989,906 $ 13,774,962 $ 14,552,914 $ 13,546,852 ================ ================= ================ =================
For the Quarter Ended -------------------------------------- March 31, -------------------------------------- STATEMENTS OF EARNINGS 2005 2004 ---------------- ----------------- Interest revenue $ 170,304 $ 146,337 Interest expense 62,710 43,130 ---------------- ----------------- Net interest revenue 107,594 103,207 Provision for credit losses 2,000 7,027 ---------------- ----------------- Net interest revenue after provision for credit losses 105,594 96,180 Other operating revenue Brokerage and trading revenue 11,336 10,011 Transaction card revenue 16,543 14,724 Trust fees and commissions 16,016 13,709 Service charges and fees on deposit accounts 22,173 22,155 Mortgage banking revenue, net 5,578 7,744 Leasing revenue 673 887 Other revenue 6,724 6,624 ---------------- ----------------- Total fees and commissions 79,043 75,854 Gain on sale of other assets 972 684 Gain (loss) on securities, net (2,637) 4,277 Gain (loss) on derivatives, net 778 (995) ---------------- ----------------- Total other operating revenue 78,156 79,820 Other operating expense Personnel 58,439 58,209 Business promotion 4,430 3,350 Contribution of stock to BOK Charitable Foundation - 4,125 Professional fees and services 3,619 3,899 Net occupancy and equipment 12,094 11,851 Data processing and communications 15,099 14,641 Printing, postage and supplies 3,615 3,317 Net (gains) losses and operating expenses on repossessed assets 308 114 Amortization of intangible assets 1,537 2,138 Mortgage banking costs 3,613 5,843 Provision (recovery) for impairment of mortgage servicing rights (5,624) 3,703 Other expense 5,029 5,258 ---------------- ----------------- Total other operating expense 102,159 116,448 Income before taxes 81,591 59,552 Federal and state income taxes 29,536 20,400 ---------------- ----------------- Net Income $ 52,055 $ 39,152 ================ =================
For the Quarter Ended -------------------------------------- March 31, -------------------------------------- FINANCIAL DATA 2005 2004 ---------------- ----------------- Capital: Average equity $ 1,411,419 $ 1,250,868 Period-end equity $ 1,415,204 $ 1,295,871 Risk-based capital ratios: Tier 1 10.19% 9.32% Total capital 11.78% 11.45% Leverage ratio 8.36% 7.34% Common stock: Book value per share $ 23.54 $ 21.67 ================ ================= Basic earnings per share $ 0.87 $ 0.66 ================ ================= Diluted earnings per share $ 0.78 $ 0.59 ================ ================= Period end common shares outstanding 59,488,037 59,111,440 Average shares outstanding: Basic 59,432,812 59,051,210 Diluted 66,946,765 66,671,947 Key ratios: Return on average assets 1.45% 1.16% Return on average equity 14.96% 12.59% Net interest margin 3.46% 3.46% Credit Quality: Nonperforming assets: Nonaccrual loans $ 49,803 $ 46,377 Real estate and other repossessed assets 3,187 5,954 ---------------- ----------------- Total nonperforming assets $ 52,990 $ 52,331 ================ ================= 90 days past due $ 6,782 $ 16,376 ================ ================= Gross charge-offs $ 5,824 $ 7,962 Recoveries 2,646 2,134 ---------------- ----------------- Net charge-offs $ 3,178 $ 5,828 ================ ================= Key ratios: Reserve for loan losses to period end loans (A) 1.35% 1.55% Combined reserves for credit losses to period end loans (A) 1.57% 1.75% Nonperforming assets to period end loans (A) and repossessed assets 0.66% 0.70% Net charge-offs (annualized) to average loans (A) 0.16% 0.31% Reserve for loan losses to nonperforming loans 218.78% 247.94% Combined reserves for credit losses to nonperforming loans 252.88% 279.96% (A) Excluding residential mortgage loans held for sale.
For the Quarter Ended -------------------------------------- March 31, -------------------------------------- 2005 2004 ---------------- ----------------- Other Data: Average earning assets, net of unsettled security transactions $ 12,754,728 $ 12,135,987 Average total assets $ 14,552,914 $ 13,546,852 Average equity $ 1,411,419 $ 1,250,868 Average loans $ 7,963,177 $ 7,494,713 Average total deposits $ 9,661,366 $ 9,034,362 Average demand deposits $ 1,895,989 $ 1,643,638 Loans held for sale (Period end) $ 44,429 $ 83,556 Loans held for sale (Average) $ 39,990 $ 72,089 Tax equivalent adjustment $ 1,256 $ 1,197 Preferred stock dividends - BOKF $ 375 $ 375 Period end common shares O/S 59,488,037 59,111,440 Period end fully diluted shares 67,001,990 66,732,178 Number of days in period 90 91 Tangible Book Value per Common Share $ 19.49 $ 17.46 ================ ================= Stock Buy Back Program: Stock buy back # shares 29,700 - Stock buy back account $ 1,188,617 $ - ---------------- ----------------- Average price per share $ 40.02 $ - ================ ================= Mortgage Banking: Mortgage servicing portfolio $ 3,883,004 $ 4,259,639 Mortgage loan fundings during quarter $ 118,749 $ 159,641 Mortgage loan refinances to total fundings 31.09% 43.15% Trust Assets: Total trust assets $ 25,381,814 $ 21,313,658