EX-99 3 fs123106.txt (B) FINANCIAL INFORMATION FOR Q406 EXHIBIT 99 (b) BALANCE SHEETS BOK FINANCIAL CORPORATION (In thousands) Period Ended --------------------------------- December 31, December 31, 2006 2005 -------------- --------------- (Unaudited) ASSETS Cash and due from banks $ 775,376 $ 684,857 Trading securities 37,076 18,633 Funds sold and resell agreements 21,950 14,465 Securities: Available for sale 4,655,061 4,821,575 Investment 248,689 245,125 Mortgage trading securities 162,837 - -------------- --------------- Total securities 5,066,587 5,066,700 Loans: Commercial 6,208,884 5,299,935 Commercial real estate 2,446,540 1,989,902 Residential mortgage 1,256,259 1,169,331 Residential mortgage held for sale 64,625 51,666 Consumer 739,495 629,144 -------------- --------------- Total loans 10,715,803 9,139,978 Less reserve for loan losses (109,497) (103,876) -------------- --------------- Loans, net of reserve 10,606,306 9,036,102 Premises and equipment, net 188,041 179,627 Accrued revenue receivable 118,236 99,874 Intangible assets, net 258,060 263,022 Mortgage servicing rights, net 65,946 54,097 Real estate and other repossessed assets 8,486 8,476 Bankers' acceptances 43,613 33,001 Derivative contracts 284,239 452,878 Cash surrender value of bank-owned life insurance 212,230 9,279 Other assets 373,478 406,058 -------------- --------------- TOTAL ASSETS $ 18,059,624 $ 16,327,069 ============== =============== LIABILITIES AND SHAREHOLDERS' EQUITY Deposits: Demand $ 1,780,059 $ 1,865,948 Interest-bearing transaction 5,996,970 5,257,295 Savings 139,130 154,015 Time 4,470,546 4,098,060 -------------- --------------- Total deposits 12,386,705 11,375,318 Funds purchased and repurchase agreements 2,348,516 1,337,911 Other borrowings 593,731 1,054,298 Subordinated debentures 297,800 295,964 Accrued interest, taxes, and expense 104,752 92,219 Bankers' acceptances 43,613 33,001 Due on unsettled securities trades 107,420 8,429 Derivative contracts 298,679 466,669 Other liabilities 157,386 124,106 -------------- --------------- TOTAL LIABILITIES 16,338,602 14,787,915 Shareholders' equity: Capital, surplus and retained earnings 1,794,466 1,606,965 Accumulated other comprehensive income (loss) (73,444) (67,811) -------------- --------------- TOTAL SHAREHOLDERS' EQUITY 1,721,022 1,539,154 -------------- --------------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 18,059,624 $ 16,327,069 ============== ===============
AVERAGE BALANCE SHEETS - UNAUDITED BOK FINANCIAL CORPORATION (In thousands) Quarter Ended --------------------------------------------------------------------------------------- December 31, September 30, June 30, March 31, December 31, 2006 2006 2006 2006 2005 -------------- --------------- ------------- --------------- -------------- ASSETS Trading securities $ 22,668 $ 21,721 $ 23,672 $ 16,722 $ 20,595 Funds sold and resell agreements 39,665 51,518 32,048 21,181 57,656 Securities: Available for sale 4,670,470 4,681,094 4,760,257 4,828,324 4,815,296 Investment 248,692 238,908 227,810 236,953 244,488 Mortgage trading securities 145,426 80,756 68,518 59,160 - -------------- --------------- ------------- --------------- -------------- Total securities 5,064,588 5,000,758 5,056,585 5,124,437 5,059,784 Loans: Commercial 6,028,240 5,568,238 5,355,644 5,217,467 5,222,316 Commercial real estate 2,352,289 2,280,681 2,247,779 2,096,885 1,960,507 Residential mortgage 1,209,115 1,223,140 1,176,660 1,166,509 1,160,385 Residential mortgage held for sale 61,328 51,647 47,163 45,983 42,756 Consumer 710,869 689,896 645,064 637,863 619,582 -------------- --------------- ------------- --------------- -------------- Total loans 10,361,841 9,813,602 9,472,309 9,164,706 9,005,546 Less allowance for loan losses (108,377) (106,474) (106,048) (105,135) (108,998) -------------- --------------- ------------- --------------- -------------- Total loans, net 10,253,464 9,707,128 9,366,261 9,059,571 8,896,548 -------------- --------------- ------------- --------------- -------------- Total earning assets 15,380,385 14,781,125 14,478,566 14,221,911 14,034,583 Cash and due from banks 619,236 562,802 554,412 584,508 540,776 Other assets 1,539,411 1,487,196 1,531,312 1,463,820 1,627,352 -------------- --------------- ------------- --------------- -------------- TOTAL ASSETS $ 17,539,032 $ 16,831,123 $ 16,564,290 $ 16,270,239 $ 16,202,711 ============== =============== ============= =============== ============== LIABILITIES AND SHAREHOLDERS' EQUITY Deposits: Demand $ 1,481,455 $ 1,453,163 $ 1,474,835 $ 1,485,398 $ 1,530,504 Interest-bearing transaction 5,768,216 5,458,280 5,353,413 5,327,004 4,821,627 Savings 139,796 146,276 153,200 155,554 154,316 Time 4,417,427 4,314,672 4,220,204 4,162,952 4,216,625 -------------- --------------- ------------- --------------- -------------- Total deposits 11,806,894 11,372,391 11,201,652 11,130,908 10,723,072 Funds purchased and repurchase agreements 2,584,354 2,138,749 2,118,211 1,731,983 1,812,752 Other borrowings 586,743 750,247 684,431 882,878 1,049,635 Subordinated debentures 298,427 293,146 292,474 295,792 296,021 Other liabilities 566,128 657,269 695,418 680,897 814,192 -------------- --------------- ------------- --------------- -------------- TOTAL LIABILITIES 15,842,546 15,211,802 14,992,186 14,722,458 14,695,672 Shareholders' equity 1,696,486 1,619,321 1,572,104 1,547,781 1,507,039 -------------- --------------- ------------- --------------- -------------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 17,539,032 $ 16,831,123 $ 16,564,290 $ 16,270,239 $ 16,202,711 ============== =============== ============= =============== ==============
STATEMENTS OF EARNINGS - UNAUDITED BOK FINANCIAL CORPORATION (In thousands, except per share data) Quarter Ended Year Ended --------------------------------- ------------------------------- December 31, December 31, --------------------------------- ------------------------------- 2006 2005 2006 2005 -------------- --------------- ------------- --------------- Interest revenue $ 266,924 $ 214,240 $ 986,429 $ 769,934 Interest expense 142,646 97,854 499,741 320,593 -------------- --------------- ------------- --------------- Net interest revenue 124,278 116,386 486,688 449,341 Provision for credit losses 5,953 4,450 18,402 12,441 -------------- --------------- ------------- --------------- Net interest revenue after provision for credit losses 118,325 111,936 468,286 436,900 Other operating revenue Brokerage and trading revenue 13,165 11,116 47,560 44,222 Transaction card revenue 20,224 18,988 78,622 72,036 Trust fees and commissions 18,240 16,536 71,037 65,187 Deposit service charges and fees 25,787 25,222 102,436 98,361 Mortgage banking revenue 6,077 7,018 26,996 30,681 Other revenue 11,362 9,924 45,045 34,377 -------------- --------------- ------------- --------------- Total fees and commissions 94,855 88,804 371,696 344,864 Gain (loss) on asset sales 252 214 1,499 7,798 Gain (loss) on securities, net (864) (1,780) (950) (6,895) Gain (loss) on derivatives, net (520) 106 (622) 1,179 -------------- --------------- ------------- --------------- Total other operating revenue 93,723 87,344 371,623 346,946 Other operating expense Personnel 78,054 68,666 296,260 258,971 Business promotion 5,345 5,170 19,351 17,964 Professional fees and services 4,734 4,534 17,744 16,596 Net occupancy and equipment 12,741 12,864 52,188 50,195 Data processing and communications 16,843 18,054 66,926 67,026 Printing, postage and supplies 3,774 3,976 15,862 15,066 Net (gains) losses and operating expenses of repossessed assets 167 335 474 572 Amortization of intangible assets 1,299 1,797 5,327 6,943 Mortgage banking costs 3,034 3,294 11,829 14,562 Change in fair value of mortgage servicing rights (236) - (3,009) - Recovery for impairment of mortgage servicing rights - (708) - (3,915) Other expense 8,236 5,921 29,355 25,126 -------------- --------------- ------------- --------------- Total other operating expense 133,991 123,903 512,307 469,106 Income before taxes 78,057 75,377 327,602 314,740 Federal and state income taxes 27,472 27,219 114,625 113,235 -------------- --------------- ------------- --------------- Net income $ 50,585 $ 48,158 $ 212,977 $ 201,505 ============== =============== ============= =============== Average shares outstanding: Basic 66,813,519 66,527,093 66,759,384 64,067,873 Diluted 67,359,208 67,146,614 67,310,005 67,047,064 Earnings per share: Basic $ 0.76 $ 0.72 $ 3.19 $ 3.14 ============== =============== ============= =============== Diluted $ 0.75 $ 0.72 $ 3.16 $ 3.01 ============== =============== ============= ===============
FINANCIAL HIGHLIGHTS - UNAUDITED BOK FINANCIAL CORPORATION (In thousands, except ratio and share data) Quarter Ended -------------------------------------------------------------------------------------- December 31, September 30, June 30, March 31, December 31, 2006 2006 2006 2006 2005 -------------- --------------- ------------- --------------- ------------- Capital: Period-end shareholders' equity $ 1,721,022 $ 1,669,918 $ 1,583,010 $ 1,565,435 $ 1,539,154 Risk-based capital ratios: Tier 1 9.78% 9.99% 10.00% 10.16% 9.84% Total capital 11.58% 12.07% 12.14% 12.41% 12.10% Leverage ratio 8.79% 8.88% 8.74% 8.60% 8.30% Common stock: Book value per share $ 25.66 $ 24.98 $ 23.68 $ 23.41 $ 23.07 Market value per share: High $ 54.98 $ 53.30 $ 49.60 $ 47.65 $ 48.53 Low $ 50.40 $ 48.13 $ 46.85 $ 44.40 $ 43.54 Cash dividends paid $ 10,037 $ 10,034 $ 10,024 $ 6,694 $ 6,664 Dividend payout ratio 19.84% 19.05% 18.23% 12.23% 13.84% Shares outstanding, net 67,067,750 66,859,272 66,840,241 66,883,037 66,702,408 Stock buy-back program: Shares repurchased 7,500 71,447 108,322 61,408 - Amount $ 380,998 $ 3,702,729 $ 5,259,931 $ 2,759,075 $ - -------------- --------------- ------------- --------------- ------------- Average price per share $ 50.80 $ 51.82 $ 48.56 $ 44.93 $ - ============== =============== ============= =============== ============= Performance ratios: Return on average assets 1.14% 1.24% 1.33% 1.36% 1.18% Return on average equity 11.83% 12.90% 14.03% 14.35% 12.68% Net interest margin 3.25% 3.38% 3.40% 3.39% 3.34% Efficiency ratio 60.71% 59.81% 58.04% 59.61% 60.32% Other data: Gain (loss) on economic hedge of mortgage servicing rights $ (465) $ 3,757 $ (2,534) $ (1,861) $ (1,368) Trust assets $ 31,704,091 $ 29,732,804 $ 28,746,686 $ 29,091,040 $ 28,464,745 Mortgage servicing portfolio $ 4,526,508 $ 4,524,071 $ 4,536,605 $ 4,520,976 $ 4,056,427 Mortgage loan fundings during the quarter $ 179,139 $ 204,264 $ 214,835 $ 168,220 $ 211,426 Mortgage loan refinances to total fundings 39.19% 23.89% 21.71% 27.59% 27.12% Tax equivalent adjustment $ 1,965 $ 1,836 $ 1,640 $ 1,522 $ 1,392
QUARTERLY EARNINGS TRENDS - UNAUDITED BOK FINANCIAL CORPORATION (In thousands, except ratio and per share data) Quarter Ended --------------------------------------------------------------------------------------- December 31, September 30, June 30, March 31, December 31, 2006 2006 2006 2006 2005 -------------- --------------- ------------- --------------- -------------- Interest revenue $ 266,924 $ 255,480 $ 240,440 $ 223,585 $ 214,240 Interest expense 142,646 131,502 119,334 106,259 97,854 -------------- --------------- ------------- --------------- -------------- Net interest revenue 124,278 123,978 121,106 117,326 116,386 Provision for credit losses 5,953 5,254 3,795 3,400 4,450 -------------- --------------- ------------- --------------- -------------- Net interest revenue after provision for credit losses 118,325 118,724 117,311 113,926 111,936 Other operating revenue Brokerage and trading revenue 13,165 10,958 11,427 12,010 11,116 Transaction card revenue 20,224 19,939 19,951 18,508 18,988 Trust fees and commissions 18,240 17,101 17,751 17,945 16,536 Deposit service charges and fees 25,787 26,322 26,341 23,986 25,222 Mortgage banking revenue 6,077 6,935 7,195 6,789 7,018 Other revenue 11,362 11,756 11,239 10,688 9,924 -------------- --------------- ------------- --------------- -------------- Total fees and commissions 94,855 93,011 93,904 89,926 88,804 Gain (loss) on asset sales 252 475 (269) 1,041 214 Gain (loss) on securities, net (864) 3,718 (2,583) (1,221) (1,780) Gain (loss) on derivatives, net (520) 379 (172) (309) 106 -------------- --------------- ------------- --------------- -------------- Total other operating revenue 93,723 97,583 90,880 89,437 87,344 Other operating expense Personnel 78,054 74,605 72,369 71,232 68,666 Business promotion 5,345 4,401 4,802 4,803 5,170 Professional fees and services 4,734 4,734 4,362 3,914 4,534 Net occupancy and equipment 12,741 13,222 13,199 13,026 12,864 Data processing and communications 16,843 16,931 16,157 16,995 18,054 Printing, postage and supplies 3,774 4,182 4,001 3,905 3,976 Net (gains) losses and operating expenses of repossessed assets 167 34 54 219 335 Amortization of intangible assets 1,299 1,299 1,359 1,370 1,797 Mortgage banking costs 3,034 2,869 2,839 3,087 3,294 Change in fair value of mortgage servicing rights (236) 7,921 (3,613) (7,081) - Recovery for impairment of mortgage servicing rights - - - - (708) Other expense 8,236 8,612 6,598 5,909 5,921 -------------- --------------- ------------- --------------- -------------- Total other operating expense 133,991 138,810 122,127 117,379 123,903 Income before taxes 78,057 77,497 86,064 85,984 75,377 Federal and state income taxes 27,472 24,837 31,080 31,236 27,219 -------------- --------------- ------------- --------------- -------------- Net income $ 50,585 $ 52,660 $ 54,984 $ 54,748 $ 48,158 ============== =============== ============= =============== ============== Average shares outstanding: Basic 66,813,519 66,756,458 66,775,117 66,715,396 66,527,093 Diluted 67,359,208 67,325,428 67,317,681 67,260,659 67,146,614 Earnings per share: Basic $ 0.76 $ 0.79 $ 0.82 $ 0.82 $0.72 Diluted $ 0.75 $ 0.78 $ 0.82 $ 0.81 $0.72
LOANS BY PRINCIPAL MARKET AREA - UNAUDITED BOK FINANCIAL CORPORATION (In thousands) Quarter Ended --------------------------------------------------------------------------------------- December 31, September 30, June 30, March 31, December 31, 2006 2006 2006 2006 2005 -------------- --------------- ------------- --------------- -------------- Oklahoma: Commercial $ 3,261,592 $ 3,078,849 $ 3,119,736 $ 2,981,660 $ 3,091,842 Commercial real estate 979,251 968,267 995,953 925,703 859,829 Residential mortgage 896,567 878,390 854,723 847,517 842,456 Residential mortgage held for sale 64,625 58,031 54,026 40,299 51,666 Consumer 512,032 502,622 479,508 468,920 466,180 -------------- --------------- ------------- --------------- -------------- Total Oklahoma 5,714,067 5,486,159 5,503,946 5,264,099 5,311,973 Texas: Commercial 1,722,627 1,557,361 1,548,545 1,420,860 1,356,611 Commercial real estate 670,635 639,327 669,698 604,413 569,921 Residential mortgage 213,801 212,114 212,987 200,957 199,726 Consumer 95,652 80,836 84,212 87,669 89,017 -------------- --------------- ------------- --------------- -------------- Total Texas 2,702,715 2,489,638 2,515,442 2,313,899 2,215,275 New Mexico: Commercial 411,272 387,164 334,984 348,930 383,325 Commercial real estate 257,079 219,966 237,020 228,955 232,564 Residential mortgage 75,159 76,858 73,281 68,810 65,784 Consumer 13,256 13,899 13,404 13,820 15,137 -------------- --------------- ------------- --------------- -------------- Total New Mexico 756,766 697,887 658,689 660,515 696,810 Arkansas: Commercial 95,483 89,849 80,539 74,423 79,719 Commercial real estate 94,395 91,158 87,080 80,529 75,483 Residential mortgage 23,076 21,923 15,067 13,069 13,044 Consumer 86,017 67,206 51,166 33,548 25,659 -------------- --------------- ------------- --------------- -------------- Total Arkansas 298,971 270,136 233,852 201,569 193,905 Colorado: Commercial 451,046 353,657 299,380 267,928 270,108 Commercial real estate 193,747 170,081 155,453 134,771 133,537 Residential mortgage 15,812 17,656 21,113 20,383 21,918 Consumer 26,591 32,647 31,939 31,487 27,871 -------------- --------------- ------------- --------------- -------------- Total Colorado 687,196 574,041 507,885 454,569 453,434 Arizona: Commercial 96,453 76,013 63,019 52,274 50,489 Commercial real estate 207,035 196,286 153,870 120,262 115,697 Residential mortgage 31,280 34,772 33,913 26,270 26,102 Consumer 5,947 5,737 6,511 5,098 5,280 -------------- --------------- ------------- --------------- -------------- Total Arizona 340,715 312,808 257,313 203,904 197,568 Kansas: Commercial 170,411 134,683 93,115 92,746 67,841 Commercial real estate 44,398 40,074 23,862 10,327 2,871 Residential mortgage 564 480 364 331 301 Consumer - - - - - -------------- --------------- ------------- --------------- -------------- Total Kansas 215,373 175,237 117,341 103,404 71,013 -------------- --------------- ------------- --------------- -------------- TOTAL BOK FINANCIAL $ 10,715,803 $ 10,005,906 $ 9,794,468 $ 9,201,959 $ 9,139,978 ============== =============== ============= =============== ==============
DEPOSITS BY PRINCIPAL MARKET AREA - UNAUDITED BOK FINANCIAL CORPORATION (In thousands) Quarter Ended --------------------------------------------------------------------------------------- December 31, September 30, June 30, March 31, December 31, 2006 2006 2006 2006 2005 -------------- --------------- ------------- --------------- -------------- Oklahoma: Demand $ 915,101 $ 868,502 $ 908,034 $ 950,582 $ 1,003,284 Interest-bearing: Transaction 3,456,322 3,001,774 2,732,312 2,937,228 3,002,610 Savings 83,017 83,442 88,218 93,093 85,837 Time 2,595,890 2,621,522 2,662,770 2,623,352 2,564,337 -------------- --------------- ------------- --------------- -------------- Total interest-bearing 6,135,229 5,706,738 5,483,300 5,653,673 5,652,784 -------------- --------------- ------------- --------------- -------------- Total Oklahoma 7,050,330 6,575,240 6,391,334 6,604,255 6,656,068 -------------- --------------- ------------- --------------- -------------- Texas: Demand 640,159 582,014 638,157 551,411 615,732 Interest-bearing: Transaction 1,688,131 1,671,993 1,530,491 1,455,856 1,535,570 Savings 24,074 25,888 26,370 27,827 27,398 Time 829,255 736,316 717,027 726,530 735,731 -------------- --------------- ------------- --------------- -------------- Total interest-bearing 2,541,460 2,434,197 2,273,888 2,210,213 2,298,699 -------------- --------------- ------------- --------------- -------------- Total Texas 3,181,619 3,016,211 2,912,045 2,761,624 2,914,431 -------------- --------------- ------------- --------------- -------------- New Mexico: Demand 124,088 144,138 147,307 159,125 129,289 Interest-bearing: Transaction 432,342 434,521 410,166 408,160 381,099 Savings 16,417 16,804 16,860 17,805 17,839 Time 490,460 481,993 494,426 483,428 453,314 -------------- --------------- ------------- --------------- -------------- Total interest-bearing 939,219 933,318 921,452 909,393 852,252 -------------- --------------- ------------- --------------- -------------- Total New Mexico 1,063,307 1,077,456 1,068,759 1,068,518 981,541 -------------- --------------- ------------- --------------- -------------- Arkansas: Demand 12,589 11,914 11,521 11,629 10,429 Interest-bearing: Transaction 17,905 19,504 20,577 26,675 22,354 Savings 1,010 1,058 1,072 1,051 1,058 Time 57,446 61,966 69,418 73,082 75,034 -------------- --------------- ------------- --------------- -------------- Total interest-bearing 76,361 82,528 91,067 100,808 98,446 -------------- --------------- ------------- --------------- -------------- Total Arkansas 88,950 94,442 102,588 112,437 108,875 -------------- --------------- ------------- --------------- -------------- Colorado: Demand 48,756 38,264 45,214 56,419 61,647 Interest-bearing: Transaction 328,254 275,714 245,504 258,801 258,668 Savings 12,632 13,037 13,786 16,315 17,772 Time 485,200 421,841 379,239 309,068 264,020 -------------- --------------- ------------- --------------- -------------- Total interest-bearing 826,086 710,592 638,529 584,184 540,460 -------------- --------------- ------------- --------------- -------------- Total Colorado 874,842 748,856 683,743 640,603 602,107 -------------- --------------- ------------- --------------- -------------- Arizona: Demand 39,352 62,234 73,696 55,421 45,567 Interest-bearing: Transaction 73,729 74,786 67,841 57,400 56,994 Savings 1,978 2,408 2,702 3,380 4,111 Time 6,574 4,549 4,077 4,608 5,624 -------------- --------------- ------------- --------------- -------------- Total interest-bearing 82,281 81,743 74,620 65,388 66,729 -------------- --------------- ------------- --------------- -------------- Total Arizona 121,633 143,977 148,316 120,809 112,296 -------------- --------------- ------------- --------------- -------------- Kansas: Demand 14 - - - - Interest-bearing: Transaction 287 - - - - Savings 2 - - - - Time 5,721 - - - - -------------- --------------- ------------- --------------- -------------- Total interest-bearing 6,010 - - - - -------------- --------------- ------------- --------------- -------------- Total Kansas 6,024 - - - - -------------- --------------- ------------- --------------- -------------- TOTAL BOK FINANCIAL $ 12,386,705 $ 11,656,182 $ 11,306,785 $ 11,308,246 $ 11,375,318 ============== =============== ============= =============== ==============
NET INTEREST MARGIN TREND - UNAUDITED BOK FINANCIAL CORPORATION Quarter Ended -------------------------------------------------------------------------------- December 31, September 30, June 30, March 31, December 31, 2006 2006 2006 2006 2005 -------------- --------------- ------------- --------------- -------------- TAX-EQUIVALENT ASSETS YIELDS Trading securities 5.64% 4.13% 4.86% 5.07% 4.68% Funds sold and resell agreements 5.46% 5.00% 5.09% 4.58% 4.00% Securities: Taxable 4.69% 4.63% 4.75% 4.60% 4.44% Tax-exempt 5.52% 5.43% 5.12% 5.36% 5.05% -------------- --------------- ------------- --------------- -------------- Total securities 4.74% 4.68% 4.77% 4.64% 4.47% Total loans 7.94% 7.99% 7.68% 7.35% 6.98% Less Allowance for loan losses - - - - - -------------- --------------- ------------- --------------- -------------- Total loans, net 8.02% 8.08% 7.76% 7.44% 7.06% -------------- --------------- ------------- --------------- -------------- Total tax-equivalent yield on earning assets 6.93% 6.91% 6.71% 6.42% 6.12% COST OF INTEREST-BEARING LIABILITIES Interest-bearing deposits: Interest-bearing transaction 2.99% 2.88% 2.61% 2.37% 1.98% Savings 1.04% 0.98% 0.92% 0.86% 0.75% Time 4.65% 4.46% 4.26% 4.03% 3.77% -------------- --------------- ------------- --------------- -------------- Total interest-bearing deposits 3.67% 3.54% 3.30% 3.06% 2.78% Funds purchased and repurchase agreements 5.18% 5.11% 4.87% 4.33% 3.92% Other borrowings 5.50% 5.42% 5.09% 4.60% 4.08% Subordinated debt 6.95% 7.05% 6.76% 6.74% 6.28% -------------- --------------- ------------- --------------- -------------- Total cost of interest-bearing liabilities 4.10% 3.98% 3.73% 3.43% 3.14% -------------- --------------- ------------- --------------- -------------- Tax-equivalent net interest revenue spread 2.83% 2.93% 2.98% 2.99% 2.98% Effect of noninterest-bearing funding sources and other 0.42% 0.45% 0.42% 0.40% 0.36% -------------- --------------- ------------- --------------- -------------- Tax-equivalent net interest margin 3.25% 3.38% 3.40% 3.39% 3.34% ============== =============== ============= =============== ==============
CREDIT QUALITY INDICATORS BOK FINANCIAL CORPORATION (In thousands, except ratios) Quarter Ended ------------------------------------------------------------------------------- December 31, September 30, June 30, March 31, December 31, 2006 2006 2006 2006 2005 -------------- --------------- ------------- --------------- -------------- Nonperforming assets: Nonaccruing loans $ 26,055 $ 30,476 $ 30,976 $ 32,229 $ 25,162 Renegotiated loans 1,111 1,064 - - - Real estate and other repossessed assets 8,486 9,322 8,257 8,196 8,476 -------------- --------------- ------------- --------------- -------------- Total nonperforming assets $ 35,652 $ 40,862 $ 39,233 $ 40,425 $ 33,638 ============== =============== ============= =============== ============== Performing loans 90 days past due $ 5,945 $ 5,076 $ 9,630 $ 3,919 $ 8,708 Gross charge-offs $ 5,867 $ 8,099 $ 5,881 $ 4,149 $ 9,579 Recoveries 3,079 3,803 2,085 2,564 2,164 -------------- --------------- ------------- --------------- -------------- Net charge-offs $ 2,788 $ 4,296 $ 3,796 $ 1,585 $ 7,415 ============== =============== ============= =============== ============== Provision for credit losses $ 5,953 $ 5,254 $ 3,795 $ 3,400 $ 4,450 Reserve for loan losses to period end loans (A) 1.03% 1.06% 1.07% 1.14% 1.14% Combined reserves for credit losses to period end loans 1.22% 1.28% 1.30% 1.38% 1.37% Nonperforming assets to period end loans (A) and repossessed assets 0.33% 0.41% 0.40% 0.44% 0.37% Net charge-offs (annualized) to average loans (A) 0.11% 0.18% 0.16% 0.07% 0.33% Reserve for loan losses to nonaccruing loans 420.25% 346.06% 337.44% 323.13% 412.83% Combined reserves for credit losses to nonaccruing loans 500.43% 417.45% 407.62% 391.77% 494.60% (A) excluding residential mortgage loans held for sale