EX-99 3 fs093006.txt (B) FINANCIAL INFORMATION FOR Q306 EXHIBIT 99 (b) BALANCE SHEETS BOK FINANCIAL CORPORATION (In thousands) Period Ended --------------------------------------------------- September 30, December 31, September 30, 2006 2005 2005 -------------- --------------- ------------- (Unaudited) (Unaudited) ASSETS Cash and due from banks $ 595,566 $ 684,857 $ 564,987 Trading securities 21,437 18,633 38,032 Funds sold and resell agreements 31,765 14,465 49,475 Securities: Available for sale 4,653,469 4,821,575 4,824,098 Investment 247,510 245,125 243,161 Mortgage trading securities 111,753 - - -------------- --------------- ------------- Total securities 5,012,732 5,066,700 5,067,259 Loans: Commercial 5,677,576 5,299,935 5,067,690 Commercial real estate 2,325,159 1,989,902 1,972,624 Residential mortgage 1,250,955 1,169,331 1,166,559 Residential mortgage held for sale 49,269 51,666 46,306 Consumer 702,947 629,144 630,389 -------------- --------------- ------------- Total loans 10,005,906 9,139,978 8,883,568 Less reserve for loan losses (105,465) (103,876) (109,622) -------------- --------------- ------------- Loans, net of reserve 9,900,441 9,036,102 8,773,946 Premises and equipment, net 178,940 179,627 177,084 Accrued revenue receivable 108,685 99,874 88,721 Intangible assets, net 258,994 263,022 258,478 Mortgage servicing rights, net 65,788 54,097 52,872 Real estate and other repossessed assets 9,322 8,476 5,069 Bankers' acceptances 8,081 33,001 40,170 Derivative contracts 322,424 452,878 643,703 Cash surrender value of bank-owned life insurance 209,766 9,279 9,221 Receivable on unsettled securities trades 868 - - Other assets 391,102 406,058 570,584 -------------- --------------- ------------- TOTAL ASSETS $ 17,115,911 $ 16,327,069 $ 16,339,602 ============== =============== ============= LIABILITIES AND SHAREHOLDERS' EQUITY Deposits: Demand $ 1,707,066 $ 1,865,948 $ 1,756,695 Interest-bearing transaction 5,478,292 5,257,295 4,360,723 Savings 142,637 154,015 155,152 Time 4,328,187 4,098,060 4,126,635 -------------- --------------- ------------- Total deposits 11,656,182 11,375,318 10,399,205 Funds purchased and repurchase agreements 2,339,585 1,337,911 2,173,791 Other borrowings 595,506 1,054,298 1,051,228 Subordinated debentures 297,370 295,964 296,401 Accrued interest, taxes, and expense 83,411 92,219 70,667 Bankers' acceptances 8,081 33,001 40,170 Due on unsettled securities trades - 8,429 11,198 Derivative contracts 339,284 466,669 661,253 Other liabilities 126,574 124,106 122,147 -------------- --------------- ------------- TOTAL LIABILITIES 15,445,993 14,787,915 14,826,060 Shareholders' equity: Capital, surplus and retained earnings 1,745,401 1,606,965 1,559,108 Accumulated other comprehensive income (loss) (75,483) (67,811) (45,566) -------------- --------------- ------------- TOTAL SHAREHOLDERS' EQUITY 1,669,918 1,539,154 1,513,542 -------------- --------------- ------------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 17,115,911 $ 16,327,069 $ 16,339,602 ============== =============== =============
AVERAGE BALANCE SHEETS - UNAUDITED BOK FINANCIAL CORPORATION (In thousands) Quarter Ended --------------------------------------------------------------------------------------- September 30, June 30, March 31, December 31, September 30, 2006 2006 2006 2005 2005 -------------- --------------- ------------- --------------- -------------- ASSETS Trading securities $ 21,721 $ 23,672 $ 16,722 $ 20,595 $ 14,560 Funds sold and resell agreements 51,518 32,048 21,181 57,656 44,882 Securities: Available for sale 4,681,094 4,760,257 4,828,324 4,815,296 4,794,958 Investment 238,908 227,810 236,953 244,488 236,837 Mortgage trading securities 80,756 68,518 59,160 - - -------------- --------------- ------------- --------------- -------------- Total securities 5,000,758 5,056,585 5,124,437 5,059,784 5,031,795 Loans: Commercial 5,568,238 5,355,644 5,217,467 5,222,316 4,926,685 Commercial real estate 2,280,681 2,247,779 2,096,885 1,960,507 1,917,996 Residential mortgage 1,223,140 1,176,660 1,166,509 1,160,385 1,119,512 Residential mortgage held for sale 51,647 47,163 45,983 42,756 59,265 Consumer 689,896 645,064 637,863 619,582 612,274 -------------- --------------- ------------- --------------- -------------- Total loans 9,813,602 9,472,309 9,164,706 9,005,546 8,635,732 Less allowance for loan losses (106,474) (106,048) (105,135) (108,998) (109,840) -------------- --------------- ------------- --------------- -------------- Total loans, net 9,707,128 9,366,261 9,059,571 8,896,548 8,525,892 -------------- --------------- ------------- --------------- -------------- Total earning assets 14,781,125 14,478,566 14,221,911 14,034,583 13,617,129 Cash and due from banks 562,802 554,412 584,508 540,776 542,841 Other assets 1,487,196 1,531,312 1,463,820 1,627,352 1,427,905 -------------- --------------- ------------- --------------- -------------- TOTAL ASSETS $ 16,831,123 $ 16,564,290 $ 16,270,239 $ 16,202,711 $ 15,587,875 ============== =============== ============= =============== ============== LIABILITIES AND SHAREHOLDERS' EQUITY Deposits: Demand $ 1,453,163 $ 1,474,835 $ 1,485,398 $ 1,530,504 $ 1,424,102 Interest-bearing transaction 5,458,280 5,353,413 5,327,004 4,821,627 4,533,912 Savings 146,276 153,200 155,554 154,316 157,772 Time 4,314,672 4,220,204 4,162,952 4,216,625 3,958,948 -------------- --------------- ------------- --------------- -------------- Total deposits 11,372,391 11,201,652 11,130,908 10,723,072 10,074,734 Funds purchased and repurchase agreements 2,138,749 2,118,211 1,731,983 1,812,752 2,067,432 Other borrowings 750,247 684,431 882,878 1,049,635 1,047,423 Subordinated debentures 293,146 292,474 295,792 296,021 297,284 Other liabilities 657,269 695,418 680,897 814,192 613,667 -------------- --------------- ------------- --------------- -------------- TOTAL LIABILITIES 15,211,802 14,992,186 14,722,458 14,695,672 14,100,540 Shareholders' equity 1,619,321 1,572,104 1,547,781 1,507,039 1,487,335 -------------- --------------- ------------- --------------- -------------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 16,831,123 $ 16,564,290 $ 16,270,239 $ 16,202,711 $ 15,587,875 ============== =============== ============= =============== ==============
STATEMENTS OF EARNINGS - UNAUDITED BOK FINANCIAL CORPORATION (In thousands, except per share data) Quarter Ended Nine Months Ended --------------------------------- ------------------------------- September 30, September 30, --------------------------------- ------------------------------- 2006 2005 2006 2005 -------------- --------------- ------------- --------------- Interest revenue $ 255,480 $ 199,056 $ 719,505 $ 555,694 Interest expense 131,502 86,228 357,095 222,739 -------------- --------------- ------------- --------------- Net interest revenue 123,978 112,828 362,410 332,955 Provision for credit losses 5,254 3,976 12,449 7,991 -------------- --------------- ------------- --------------- Net interest revenue after provision for credit losses 118,724 108,852 349,961 324,964 Other operating revenue Brokerage and trading revenue 10,958 11,366 34,395 33,106 Transaction card revenue 19,939 18,526 58,398 53,048 Trust fees and commissions 17,101 16,376 52,797 48,651 Deposit service charges and fees 26,322 25,619 76,649 73,139 Mortgage banking revenue 6,935 9,535 20,919 23,663 Other revenue 11,756 8,896 33,683 24,453 -------------- --------------- ------------- --------------- Total fees and commissions 93,011 90,318 276,841 256,060 Gain (loss) on asset sales 475 675 1,247 7,584 Gain (loss) on securities, net 3,718 (4,744) (86) (5,115) Gain (loss) on derivatives, net 379 606 (102) 1,073 -------------- --------------- ------------- --------------- Total other operating revenue 97,583 86,855 277,900 259,602 Other operating expense Personnel 74,605 66,533 218,206 190,305 Business promotion 4,401 4,494 14,006 12,794 Professional fees and services 4,734 3,951 13,010 12,062 Net occupancy and equipment 13,222 12,587 39,447 37,331 Data processing and communications 16,931 17,492 50,083 48,972 Printing, postage and supplies 4,182 3,846 12,088 11,090 Net (gains) losses and operating expenses of repossessed assets 34 (387) 307 237 Amortization of intangible assets 1,299 1,801 4,028 5,146 Mortgage banking costs 2,869 4,268 8,795 11,268 Change in fair value of mortgage servicing rights 7,921 - (2,773) - Recovery for impairment of mortgage servicing rights - (4,671) - (3,207) Other expense 8,612 7,120 21,119 19,205 -------------- --------------- ------------- --------------- Total other operating expense 138,810 117,034 378,316 345,203 Income before taxes 77,497 78,673 249,545 239,363 Federal and state income taxes 24,837 27,846 87,153 86,016 -------------- --------------- ------------- --------------- Net income $ 52,660 $ 50,827 $ 162,392 $ 153,347 ============== =============== ============= =============== Average shares outstanding: Basic 66,756,458 66,427,447 66,749,141 63,239,165 Diluted 67,325,428 67,105,539 67,301,406 67,013,525 Earnings per share: Basic $ 0.79 $ 0.77 $ 2.43 $ 2.42 ============== =============== ============= =============== Diluted $ 0.78 $ 0.76 $ 2.41 $ 2.29 ============== =============== ============= ===============
FINANCIAL HIGHLIGHTS - UNAUDITED BOK FINANCIAL CORPORATION (In thousands, except ratio and share data) Quarter Ended --------------------------------------------------------------------------------------- September 30, June 30, March 31, December 31, September 30, 2006 2006 2006 2005 2005 -------------- --------------- ------------- --------------- -------------- Capital: Period-end shareholders' equity $ 1,669,918 $ 1,583,010 $ 1,565,435 $ 1,539,154 $ 1,513,542 Risk-based capital ratios: Tier 1 9.99% 10.00% 10.16% 9.84% 9.71% Total capital 12.07% 12.14% 12.41% 12.10% 12.04% Leverage ratio 8.88% 8.74% 8.60% 8.30% 8.01% Common stock: Book value per share $ 24.98 $ 23.68 $ 23.41 $ 23.07 $ 22.75 Market value per share: High $ 53.30 $ 49.60 $ 47.65 $ 48.53 $ 49.30 Low $ 48.13 $ 46.85 $ 44.40 $ 43.54 $ 45.26 Cash dividends paid $ 10,034 $ 10,024 $ 6,694 $ 6,664 $ 6,656 Dividend payout ratio 19.05% 18.23% 12.23% 13.84% 13.10% Shares outstanding, net 66,859,272 66,840,241 66,883,037 66,702,408 66,520,927 Stock buy-back program: Shares repurchased 71,447 108,322 61,408 - - Amount $ 3,702,729 $ 5,259,931 $ 2,759,075 $ - $ - -------------- --------------- ------------- --------------- -------------- Average price per share $ 51.82 $ 48.56 $ 44.93 $ - $ - ============== =============== ============= =============== ============== Performance ratios: Return on average assets 1.24% 1.33% 1.36% 1.18% 1.29% Return on average equity 12.90% 14.03% 14.35% 12.68% 13.56% Net interest margin 3.38% 3.40% 3.39% 3.34% 3.32% Efficiency ratio 59.81% 58.04% 59.61% 60.32% 59.53% Other data: Trust assets $ 29,732,804 $ 28,746,686 $ 29,091,040 $ 28,464,745 $ 27,598,958 Mortgage servicing portfolio $ 4,524,071 $ 4,536,605 $ 4,520,976 $ 4,056,427 $ 4,053,885 Mortgage loan fundings during the quarter $ 204,264 $ 214,835 $ 168,220 $ 211,426 $ 247,045 Mortgage loan refinances to total fundings 23.89% 21.71% 27.59% 27.12% 27.19% Tax equivalent adjustment $ 1,836 $ 1,640 $ 1,522 $ 1,392 $ 1,289
QUARTERLY EARNINGS TRENDS - UNAUDITED BOK FINANCIAL CORPORATION (In thousands, except ratio and per share data) Quarter Ended ----------------------------------------------------------------------------------- September 30, June 30, March 31, December 31, September 30, 2006 2006 2006 2005 2005 -------------- --------------- ------------- --------------- -------------- Interest revenue $ 255,480 $ 240,440 $ 223,585 $ 214,240 $ 199,056 Interest expense 131,502 119,334 106,259 97,854 86,228 -------------- --------------- ------------- --------------- -------------- Net interest revenue 123,978 121,106 117,326 116,386 112,828 Provision for credit losses 5,254 3,795 3,400 4,450 3,976 -------------- --------------- ------------- --------------- -------------- Net interest revenue after provision for credit losses 118,724 117,311 113,926 111,936 108,852 Other operating revenue Brokerage and trading revenue 10,958 11,427 12,010 11,116 11,366 Transaction card revenue 19,939 19,951 18,508 18,988 18,526 Trust fees and commissions 17,101 17,751 17,945 16,536 16,376 Deposit service charges and fees 26,322 26,341 23,986 25,222 25,619 Mortgage banking revenue 6,935 7,195 6,789 7,018 9,535 Other revenue 11,756 11,239 10,688 9,924 8,896 -------------- --------------- ------------- --------------- -------------- Total fees and commissions 93,011 93,904 89,926 88,804 90,318 Gain (loss) on asset sales 475 (269) 1,041 214 675 Gain (loss) on securities, net 3,718 (2,583) (1,221) (1,780) (4,744) Gain (loss) on derivatives, net 379 (172) (309) 106 606 -------------- --------------- ------------- --------------- -------------- Total other operating revenue 97,583 90,880 89,437 87,344 86,855 Other operating expense Personnel 74,605 72,369 71,232 68,666 66,533 Business promotion 4,401 4,802 4,803 5,170 4,494 Professional fees and services 4,734 4,362 3,914 4,534 3,951 Net occupancy and equipment 13,222 13,199 13,026 12,864 12,587 Data processing and communications 16,931 16,157 16,995 18,054 17,492 Printing, postage and supplies 4,182 4,001 3,905 3,976 3,846 Net (gains) losses and operating expense of repossessed assets 34 54 219 335 (387) Amortization of intangible assets 1,299 1,359 1,370 1,797 1,801 Mortgage banking costs 2,869 2,839 3,087 3,294 4,268 Change in fair value of mortgage servicing rights 7,921 (3,613) (7,081) - - Recovery for impairment of mortgage servicing rights - - - (708) (4,671) Other expense 8,612 6,598 5,909 5,921 7,120 -------------- --------------- ------------- --------------- -------------- Total other operating expense 138,810 122,127 117,379 123,903 117,034 Income before taxes 77,497 86,064 85,984 75,377 78,673 Federal and state income taxes 24,837 31,080 31,236 27,219 27,846 -------------- --------------- ------------- --------------- -------------- Net income $ 52,660 $ 54,984 $ 54,748 $ 48,158 $ 50,827 ============== =============== ============= =============== ============== Average shares outstanding: Basic 66,756,458 66,775,117 66,715,396 66,527,093 66,427,447 Diluted 67,325,428 67,317,681 67,260,659 67,146,614 67,105,539 Earnings per share: Basic $ 0.79 $ 0.82 $ 0.82 $ 0.72 $ 0.77 Diluted $ 0.78 $ 0.82 $ 0.81 $ 0.72 $ 0.76
LOANS BY PRINCIPAL MARKET AREA - UNAUDITED BOK FINANCIAL CORPORATION (In thousands) Quarter Ended --------------------------------------------------------------------------------------- September 30, June 30, March 31, December 31, September 30, 2006 2006 2006 2005 2005 -------------- --------------- ------------- --------------- -------------- Oklahoma: Commercial $ 3,213,532 $ 3,212,851 $ 3,074,406 $ 3,159,683 $ 3,101,209 Commercial real estate 1,008,341 1,019,815 936,030 862,700 890,737 Residential mortgage 887,632 855,087 847,848 842,757 839,344 Residential mortgage held for sale 49,269 54,026 40,299 51,666 46,306 Consumer 502,622 479,508 468,920 466,180 472,899 -------------- --------------- ------------- --------------- -------------- Total Oklahoma 5,661,396 5,621,287 5,367,503 5,382,986 5,350,495 Texas: Commercial 1,557,361 1,547,274 1,420,860 1,356,611 1,294,606 Commercial real estate 639,327 670,969 604,413 569,921 537,576 Residential mortgage 212,114 212,987 200,957 199,726 196,593 Consumer 80,836 84,212 87,669 89,017 89,329 -------------- --------------- ------------- --------------- -------------- Total Texas 2,489,638 2,515,442 2,313,899 2,215,275 2,118,104 New Mexico: Commercial 387,164 334,984 348,930 383,325 354,087 Commercial real estate 219,966 237,020 228,955 232,564 223,236 Residential mortgage 76,858 73,281 68,810 65,784 65,203 Consumer 13,899 13,404 13,820 15,137 15,195 -------------- --------------- ------------- --------------- -------------- Total New Mexico 697,887 658,689 660,515 696,810 657,721 Arkansas: Commercial 89,849 80,539 74,423 79,719 54,703 Commercial real estate 91,158 87,080 80,529 75,483 85,600 Residential mortgage 21,923 15,067 13,069 13,044 12,097 Consumer 67,206 51,166 33,548 25,659 20,397 -------------- --------------- ------------- --------------- -------------- Total Arkansas 270,136 233,852 201,569 193,905 172,797 Colorado: Commercial 353,657 299,380 267,928 270,108 219,208 Commercial real estate 170,081 155,453 134,771 133,537 132,741 Residential mortgage 17,656 21,113 20,383 21,918 26,186 Consumer 32,647 31,939 31,487 27,871 26,126 -------------- --------------- ------------- --------------- -------------- Total Colorado 574,041 507,885 454,569 453,434 404,261 Arizona: Commercial 76,013 63,019 52,274 50,489 43,877 Commercial real estate 196,286 153,870 120,262 115,697 102,734 Residential mortgage 34,772 33,913 26,270 26,102 27,136 Consumer 5,737 6,511 5,098 5,280 6,443 -------------- --------------- ------------- --------------- -------------- Total Arizona 312,808 257,313 203,904 197,568 180,190 -------------- --------------- ------------- --------------- -------------- TOTAL BOK FINANCIAL $ 10,005,906 $ 9,794,468 $ 9,201,959 $ 9,139,978 $ 8,883,568 ============== =============== ============= =============== ==============
DEPOSITS BY PRINCIPAL MARKET AREA - UNAUDITED BOK FINANCIAL CORPORATION (In thousands) Quarter Ended --------------------------------------------------------------------------------------- September 30, June 30, March 31, December 31, September 30, 2006 2006 2006 2005 2005 -------------- --------------- ------------- --------------- -------------- Oklahoma: Demand $ 868,502 $ 908,034 $ 950,582 $ 1,003,284 $ 959,169 Interest-bearing: Transaction 3,001,774 2,732,312 2,937,228 3,002,610 2,411,175 Savings 83,442 88,218 93,093 85,837 86,220 Time 2,621,522 2,662,770 2,623,352 2,564,337 2,728,224 -------------- --------------- ------------- --------------- -------------- Total interest-bearing 5,706,738 5,483,300 5,653,673 5,652,784 5,225,619 -------------- --------------- ------------- --------------- -------------- Total Oklahoma 6,575,240 6,391,334 6,604,255 6,656,068 6,184,788 -------------- --------------- ------------- --------------- -------------- Texas: Demand 582,014 638,157 551,411 615,732 533,475 Interest-bearing: Transaction 1,671,993 1,530,491 1,455,856 1,535,570 1,299,279 Savings 25,888 26,370 27,827 27,398 29,620 Time 736,316 717,027 726,530 735,731 633,785 -------------- --------------- ------------- --------------- -------------- Total interest-bearing 2,434,197 2,273,888 2,210,213 2,298,699 1,962,684 -------------- --------------- ------------- --------------- -------------- Total Texas 3,016,211 2,912,045 2,761,624 2,914,431 2,496,159 -------------- --------------- ------------- --------------- -------------- New Mexico: Demand 144,138 147,307 159,125 129,289 155,517 Interest-bearing: Transaction 434,521 410,166 408,160 381,099 338,706 Savings 16,804 16,860 17,805 17,839 17,614 Time 481,993 494,426 483,428 453,314 454,561 -------------- --------------- ------------- --------------- -------------- Total interest-bearing 933,318 921,452 909,393 852,252 810,881 -------------- --------------- ------------- --------------- -------------- Total New Mexico 1,077,456 1,068,759 1,068,518 981,541 966,398 -------------- --------------- ------------- --------------- -------------- Arkansas: Demand 11,914 11,521 11,629 10,429 13,772 Interest-bearing: Transaction 19,504 20,577 26,675 22,354 23,335 Savings 1,058 1,072 1,051 1,058 1,268 Time 61,966 69,418 73,082 75,034 81,510 -------------- --------------- ------------- --------------- -------------- Total interest-bearing 82,528 91,067 100,808 98,446 106,113 -------------- --------------- ------------- --------------- -------------- Total Arkansas 94,442 102,588 112,437 108,875 119,885 -------------- --------------- ------------- --------------- -------------- Colorado: Demand 38,264 45,214 56,419 61,647 51,978 Interest-bearing: Transaction 275,714 245,504 258,801 258,668 216,718 Savings 13,037 13,786 16,315 17,772 16,568 Time 421,841 379,239 309,068 264,020 221,753 -------------- --------------- ------------- --------------- -------------- Total interest-bearing 710,592 638,529 584,184 540,460 455,039 -------------- --------------- ------------- --------------- -------------- Total Colorado 748,856 683,743 640,603 602,107 507,017 -------------- --------------- ------------- --------------- -------------- Arizona: Demand 62,234 73,696 55,421 45,567 42,784 Interest-bearing: Transaction 74,786 67,841 57,400 56,994 71,510 Savings 2,408 2,702 3,380 4,111 3,862 Time 4,549 4,077 4,608 5,624 6,802 -------------- --------------- ------------- --------------- -------------- Total interest-bearing 81,743 74,620 65,388 66,729 82,174 -------------- --------------- ------------- --------------- -------------- Total Arizona 143,977 148,316 120,809 112,296 124,958 -------------- --------------- ------------- --------------- -------------- TOTAL BOK FINANCIAL $ 11,656,182 $ 11,306,785 $ 11,308,246 $ 11,375,318 $ 10,399,205 ============== =============== ============= =============== ==============
NET INTEREST MARGIN TREND - UNAUDITED BOK FINANCIAL CORPORATION Quarter Ended -------------------------------------------------------------------------------- September 30, June 30, March 31, December 31, September 30, 2006 2006 2006 2005 2005 -------------- --------------- ------------- --------------- -------------- TAX-EQUIVALENT ASSETS YIELDS Trading securities 4.13% 4.86% 5.07% 4.68% 4.66% Funds sold and resell agreements 5.00% 5.09% 4.58% 4.00% 3.41% Securities: Taxable 4.63% 4.75% 4.60% 4.44% 4.28% Tax-exempt 5.43% 5.12% 5.36% 5.05% 4.96% -------------- --------------- ------------- --------------- -------------- Total securities 4.68% 4.77% 4.64% 4.47% 4.31% Total loans 7.99% 7.68% 7.35% 6.98% 6.66% Less Allowance for loan losses - - - - - -------------- --------------- ------------- --------------- -------------- Total loans, net 8.08% 7.76% 7.44% 7.06% 6.75% -------------- --------------- ------------- --------------- -------------- Total tax-equivalent yield on earning assets 6.91% 6.71% 6.42% 6.12% 5.83% COST OF INTEREST-BEARING LIABILITIES Interest-bearing deposits: Interest-bearing transaction 2.88% 2.61% 2.37% 1.98% 1.66% Savings 0.98% 0.92% 0.86% 0.75% 0.70% Time 4.46% 4.26% 4.03% 3.77% 3.53% -------------- --------------- ------------- --------------- -------------- Total interest-bearing deposits 3.54% 3.30% 3.06% 2.78% 2.50% Funds purchased and repurchase agreements 5.11% 4.87% 4.33% 3.92% 3.40% Other borrowings 5.42% 5.09% 4.60% 4.08% 3.60% Subordinated debt 7.05% 6.76% 6.74% 6.28% 5.97% -------------- --------------- ------------- --------------- -------------- Total cost of interest-bearing liabilities 3.98% 3.73% 3.43% 3.14% 2.84% -------------- --------------- ------------- --------------- -------------- Tax-equivalent net interest revenue spread 2.93% 2.98% 2.99% 2.98% 2.99% Effect of noninterest-bearing funding sources and other 0.45% 0.42% 0.40% 0.36% 0.33% -------------- --------------- ------------- --------------- -------------- Tax-equivalent net interest margin 3.38% 3.40% 3.39% 3.34% 3.32% ============== =============== ============= =============== ==============
CREDIT QUALITY INDICATORS BOK FINANCIAL CORPORATION (In thousands, except ratios) Quarter Ended ------------------------------------------------------------------------------- September 30, June 30, March 31, December 31, September 30, 2006 2006 2006 2005 2005 -------------- --------------- ------------- --------------- -------------- Nonperforming assets: Nonaccruing loans $ 30,476 $ 30,976 $ 32,229 $ 25,162 $ 37,353 Renegotiated loans 1,064 - - - - Real estate and other repossessed assets 9,322 8,257 8,196 8,476 5,069 -------------- --------------- ------------- --------------- -------------- Total nonperforming assets $ 40,862 $ 39,233 $ 40,425 $ 33,638 $ 42,422 ============== =============== ============= =============== ============== Performing loans 90 days past due $ 5,076 $ 9,630 $ 3,919 $ 8,708 $ 10,027 Gross charge-offs $ 8,099 $ 5,881 $ 4,149 $ 9,579 $ 5,311 Recoveries 3,803 2,085 2,564 2,164 1,977 -------------- --------------- ------------- --------------- -------------- Net charge-offs $ 4,296 $ 3,796 $ 1,585 $ 7,415 $ 3,334 ============== =============== ============= =============== ============== Provision for credit losses $ 5,254 $ 3,795 $ 3,400 $ 4,450 $ 3,976 Reserve for loan losses to period end loans (A) 1.06% 1.07% 1.14% 1.14% 1.24% Combined reserves for credit losses to period end loans 1.28% 1.30% 1.38% 1.37% 1.44% Nonperforming assets to period end loans (A) and repossessed assets 0.41% 0.40% 0.44% 0.37% 0.48% Net charge-offs (annualized) to average loans (A) 0.18% 0.16% 0.07% 0.33% 0.16% Reserve for loan losses to nonaccruing loans 346.06% 337.44% 323.13% 412.83% 293.48% Combined reserves for credit losses to nonaccruing loans 417.45% 407.62% 391.77% 494.60% 341.11%
(A) excluding residential mortgage loans held for sale