EX-99 3 finstmt063007.txt (B) FINANCIAL STATEMENTS Exhibit 99(b) BALANCE SHEETS BOK FINANCIAL CORPORATION (In thousands) Period Ended --------------------------------------------------- June 30, December 31, June 30, 2007 2006 2006 -------------- --------------- ------------- (Unaudited) (Unaudited) ASSETS Cash and due from banks $ 596,827 $ 775,376 $ 618,064 Trading securities 30,977 37,076 25,702 Funds sold and resell agreements 50,635 21,950 25,469 Securities: Available for sale 5,038,966 4,655,061 4,728,434 Investment 265,507 248,689 223,411 Mortgage trading securities 133,967 162,837 82,983 -------------- --------------- ------------- Total securities 5,438,440 5,066,587 5,034,828 Loans: Commercial 6,548,832 6,208,884 5,539,318 Commercial real estate 2,791,980 2,446,540 2,322,936 Residential mortgage 1,403,298 1,256,259 1,211,448 Residential mortgage held for sale 112,596 64,625 54,026 Consumer 842,676 739,495 666,740 -------------- --------------- ------------- Total loans 11,699,382 10,715,803 9,794,468 Less reserve for loan losses (119,759) (109,497) (104,525) -------------- --------------- ------------- Loans, net of reserve 11,579,623 10,606,306 9,689,943 Premises and equipment, net 241,579 188,041 177,142 Accrued revenue receivable 160,595 118,236 100,138 Intangible assets, net 377,957 258,060 260,293 Mortgage servicing rights, net 74,067 65,946 73,103 Real estate and other repossessed assets 7,664 8,486 8,257 Bankers' acceptances 31,702 43,613 30,430 Derivative contracts 264,845 284,239 414,367 Cash surrender value of bank-owned life insurance 224,250 212,230 7,744 Other assets 268,221 373,478 458,605 -------------- --------------- ------------- TOTAL ASSETS $ 19,347,382 $ 18,059,624 $ 16,924,085 ============== =============== ============= LIABILITIES AND SHAREHOLDERS' EQUITY Deposits: Demand $ 1,701,756 $ 1,780,059 $ 1,823,929 Interest-bearing transaction 6,508,677 5,996,970 5,006,891 Savings 207,251 139,130 149,008 Time 4,744,570 4,470,546 4,326,957 -------------- --------------- ------------- Total deposits 13,162,254 12,386,705 11,306,785 Funds purchased and repurchase agreements 2,317,846 2,348,516 2,342,339 Other borrowings 888,362 593,731 727,726 Subordinated debentures 547,896 297,800 290,522 Accrued interest, taxes, and expense 104,224 104,752 74,580 Bankers' acceptances 31,702 43,613 30,430 Due on unsettled securities trades 71,838 107,420 3,335 Derivative contracts 283,286 298,679 437,182 Other liabilities 144,066 157,386 128,176 -------------- --------------- ------------- TOTAL LIABILITIES 17,551,474 16,338,602 15,341,075 Shareholders' equity: Capital, surplus and retained earnings 1,885,435 1,794,466 1,702,705 Accumulated other comprehensive loss (89,527) (73,444) (119,695) -------------- --------------- ------------- TOTAL SHAREHOLDERS' EQUITY 1,795,908 1,721,022 1,583,010 -------------- --------------- ------------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 19,347,382 $ 18,059,624 $ 16,924,085 ============== =============== =============
AVERAGE BALANCE SHEETS - UNAUDITED BOK FINANCIAL CORPORATION (In thousands) Quarter Ended --------------------------------------------------------------------------------------- June 30, March 31, December 31, September 30, June 30, 2007 2007 2006 2006 2006 -------------- --------------- ------------- --------------- -------------- ASSETS Trading securities $ 32,897 $ 29,613 $ 22,668 $ 21,721 $ 23,672 Funds sold and resell agreements 67,057 55,674 39,665 51,518 32,048 Securities: Available for sale 4,967,974 4,750,643 4,670,470 4,681,094 4,760,257 Investment 261,518 242,622 248,692 238,908 227,810 Mortgage trading securities 139,695 131,705 145,426 80,756 68,518 -------------- --------------- ------------- --------------- -------------- Total securities 5,369,187 5,124,970 5,064,588 5,000,758 5,056,585 Loans: Commercial 6,347,091 6,297,338 6,028,240 5,568,238 5,355,644 Commercial real estate 2,705,280 2,493,445 2,352,289 2,280,681 2,247,779 Residential mortgage 1,375,620 1,291,827 1,209,115 1,223,140 1,176,660 Residential mortgage held for sale 93,804 69,818 61,328 51,647 47,163 Consumer 816,346 740,735 710,869 689,896 645,064 -------------- --------------- ------------- --------------- -------------- Total loans 11,338,140 10,893,163 10,361,841 9,813,602 9,472,309 Less allowance for loan losses (118,505) (113,379) (108,377) (106,474) (106,048) -------------- --------------- ------------- --------------- -------------- Total loans, net 11,219,635 10,779,784 10,253,464 9,707,128 9,366,261 -------------- --------------- ------------- --------------- -------------- Total earning assets 16,688,776 15,990,041 15,380,385 14,781,125 14,478,566 Cash and due from banks 534,385 564,588 619,236 562,802 554,412 Other assets 1,406,301 1,385,329 1,539,411 1,487,196 1,531,312 -------------- --------------- ------------- --------------- -------------- TOTAL ASSETS $ 18,629,462 $ 17,939,958 $ 17,539,032 $ 16,831,123 $ 16,564,290 ============== =============== ============= =============== ============== LIABILITIES AND SHAREHOLDERS' EQUITY Deposits: Demand $ 1,295,930 $ 1,397,874 $ 1,481,455 $ 1,453,163 $ 1,474,835 Interest-bearing transaction 6,414,014 6,100,117 5,768,216 5,458,280 5,353,413 Savings 158,718 143,101 139,796 146,276 153,200 Time 4,507,053 4,420,390 4,417,427 4,314,672 4,220,204 -------------- --------------- ------------- --------------- -------------- Total deposits 12,375,715 12,061,482 11,806,894 11,372,391 11,201,652 Funds purchased and repurchase agreements 2,627,230 2,640,485 2,584,354 2,138,749 2,118,211 Other borrowings 866,096 668,078 586,743 750,247 684,431 Subordinated debentures 410,883 297,806 298,427 293,146 292,474 Other liabilities 558,792 530,659 566,128 657,269 695,418 -------------- --------------- ------------- --------------- -------------- TOTAL LIABILITIES 16,838,716 16,198,510 15,842,546 15,211,802 14,992,186 Shareholders' equity 1,790,746 1,741,448 1,696,486 1,619,321 1,572,104 -------------- --------------- ------------- --------------- -------------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 18,629,462 $ 17,939,958 $ 17,539,032 $ 16,831,123 $ 16,564,290 ============== =============== ============= =============== ==============
STATEMENTS OF EARNINGS - UNAUDITED BOK FINANCIAL CORPORATION (In thousands, except per share data) Quarter Ended Six Months Ended --------------------------------- ------------------------------- June 30, June 30, --------------------------------- ------------------------------- 2007 2006 2007 2006 -------------- --------------- ------------- --------------- Interest revenue $ 288,685 $ 240,440 $ 563,261 $ 464,025 Interest expense 153,772 119,334 299,510 225,593 -------------- --------------- ------------- --------------- Net interest revenue 134,913 121,106 263,751 238,432 Provision for credit losses 7,820 3,795 14,320 7,195 -------------- --------------- ------------- --------------- Net interest revenue after provision for credit losses 127,093 117,311 249,431 231,237 Other operating revenue Brokerage and trading revenue 13,317 12,597 26,599 25,953 Transaction card revenue 22,917 19,951 43,101 38,459 Trust fees and commissions 19,458 17,751 38,453 35,696 Deposit service charges and fees 26,797 26,341 51,395 50,327 Mortgage banking revenue 6,682 7,195 13,222 13,984 Bank-owned life insurance 2,525 32 4,924 95 Other revenue 7,096 10,037 13,086 19,316 -------------- --------------- ------------- --------------- Total fees and commissions 98,792 93,904 190,780 183,830 Gain (loss) on asset sales (348) (269) 346 772 Gain (loss) on securities, net (6,262) (2,583) (6,825) (3,804) Gain (loss) on derivatives, net (183) (172) (112) (481) -------------- --------------- ------------- --------------- Total other operating revenue 91,999 90,880 184,189 180,317 Other operating expense Personnel 81,882 72,369 160,611 143,601 Business promotion 5,391 4,802 9,961 9,605 Professional fees and services 5,963 4,362 10,837 8,276 Net occupancy and equipment 13,860 13,199 27,066 26,225 Data processing and communications 18,402 16,157 35,376 33,152 Printing, postage and supplies 4,179 4,001 8,148 7,906 Net (gains) losses and operating expenses of repossessed assets 192 54 399 273 Amortization of intangible assets 1,443 1,359 2,579 2,729 Mortgage banking costs 2,987 2,839 5,931 5,926 Change in fair value of mortgage servicing rights (5,061) (3,613) (3,897) (10,694) Other expense 6,721 6,598 11,460 12,507 -------------- --------------- ------------- --------------- Total other operating expense 135,959 122,127 268,471 239,506 Income before taxes 83,133 86,064 165,149 172,048 Federal and state income taxes 29,270 31,080 58,493 62,316 -------------- --------------- ------------- --------------- Net income $ 53,863 $ 54,984 $ 106,656 $ 109,732 ============== =============== ============= =============== Average shares outstanding: Basic 67,116,902 66,775,117 67,099,752 66,745,422 Diluted 67,606,330 67,317,681 67,589,146 67,289,335 Earnings per share: Basic $ 0.80 $ 0.82 $ 1.59 $ 1.64 ============== =============== ============= =============== Diluted $ 0.80 $ 0.82 $ 1.58 $ 1.63 ============== =============== ============= ===============
FINANCIAL HIGHLIGHTS - UNAUDITED BOK FINANCIAL CORPORATION (In thousands, except ratio and share data) Quarter Ended ---------------------------------------------------------------------------------- June 30, March 31, December 31, September 30, June 30, 2007 2007 2006 2006 2006 -------------- --------------- ------------- --------------- ------------- Capital: Period-end shareholders' equity $ 1,795,908 $ 1,785,948 $ 1,721,022 $ 1,669,918 $ 1,583,010 Risk-based capital ratios: Tier 1 9.12% 9.97% 9.78% 9.99% 10.00% Total capital 12.36% 11.76% 11.58% 12.07% 12.14% Leverage ratio 8.30% 8.95% 8.79% 8.88% 8.74% Period-end tangible capital ratio 7.47% 8.54% 8.22% 8.37% 7.94% Common stock: Book value per share $ 26.69 $ 26.57 $ 25.66 $ 24.98 $ 23.68 Market value per share: High $ 55.12 $ 55.43 $ 54.98 $ 53.30 $ 49.60 Low $ 48.58 $ 49.37 $ 50.40 $ 48.13 $ 46.85 Cash dividends paid $ 13,452 $ 10,081 $ 10,037 $ 10,034 $ 10,024 Dividend payout ratio 24.97% 19.10% 19.84% 19.05% 18.23% Shares outstanding, net 67,280,107 67,227,050 67,067,750 66,859,272 66,840,241 Stock buy-back program: Shares repurchased 18,783 25,000 7,500 71,447 108,322 Amount $ 967,122 $ 1,256,000 $ 380,998 $ 3,702,729 $ 5,259,931 -------------- --------------- ------------- --------------- -------------- Average price per share $ 51.49 $ 50.24 $ 50.80 $ 51.82 $ 48.56 ============== =============== ============= =============== ============== Performance ratios: Return on average assets 1.16% 1.19% 1.14% 1.24% 1.33% Return on average equity 12.06% 12.29% 11.83% 12.90% 14.03% Net interest margin 3.31% 3.32% 3.25% 3.38% 3.40% Efficiency ratio 59.81% 58.92% 60.71% 59.81% 58.04% Other data: Gain (loss) on economic hedge of mortgage servicing rights $(5,682) $ 254 $ (465) $ 3,757 $ (2,534) Trust assets $ 33,711,040 $ 33,113,964 $ 31,704,091 $ 29,732,804 $ 28,746,686 Mortgage servicing portfolio $ 4,644,724 $ 4,525,719 $ 4,526,508 $ 4,524,071 $ 4,536,605 Mortgage loan fundings during the quarter $ 257,074 $ 177,032 $ 179,139 $ 204,264 $ 214,835 Mortgage loan refinances to total fundings 23.88% 34.72% 39.19% 23.89% 21.71% Tax equivalent adjustment $ 2,069 $ 2,085 $ 1,965 $ 1,836 $ 1,640
QUARTERLY EARNINGS TRENDS - UNAUDITED BOK FINANCIAL CORPORATION (In thousands, except ratio and per share data) Quarter Ended --------------------------------------------------------------------------------- June 30, March 31, December 31, September 30, June 30, 2007 2007 2006 2006 2006 -------------- --------------- ------------- --------------- ------------ Interest revenue $ 288,685 $ 274,576 $ 266,924 $ 255,480 $ 240,440 Interest expense 153,772 145,738 142,646 131,502 119,334 -------------- --------------- ------------- --------------- ------------ Net interest revenue 134,913 128,838 124,278 123,978 121,106 Provision for credit losses 7,820 6,500 5,953 5,254 3,795 -------------- --------------- ------------- --------------- ------------ Net interest revenue after provision for credit losses 127,093 122,338 118,325 118,724 117,311 Other operating revenue Brokerage and trading revenue 13,317 13,282 14,382 13,078 12,597 Transaction card revenue 22,917 20,184 20,224 19,939 19,951 Trust fees and commissions 19,458 18,995 18,240 17,101 17,751 Deposit service charges and fees 26,797 24,598 25,787 26,322 26,341 Mortgage banking revenue 6,682 6,540 6,077 6,935 7,195 Bank-owned life insurance 2,525 2,399 2,346 117 32 Other revenue 7,096 5,990 7,799 9,519 10,037 -------------- --------------- ------------- --------------- ------------ Total fees and commissions 98,792 91,988 94,855 93,011 93,904 Gain (loss) on asset sales (348) 694 252 475 (269) Gain (loss) on securities, net (6,262) (563) (864) 3,718 (2,583) Gain (loss) on derivatives, net (183) 71 (520) 379 (172) -------------- --------------- ------------- --------------- ------------ Total other operating revenue 91,999 92,190 93,723 97,583 90,880 Other operating expense Personnel 81,882 78,729 78,054 74,605 72,369 Business promotion 5,391 4,570 5,345 4,401 4,802 Professional fees and services 5,963 4,874 4,734 4,734 4,362 Net occupancy and equipment 13,860 13,206 12,741 13,222 13,199 Data processing and communications 18,402 16,974 16,843 16,931 16,157 Printing, postage and supplies 4,179 3,969 3,774 4,182 4,001 Net (gains) losses and operating expenses of repossessed assets 192 207 167 34 54 Amortization of intangible assets 1,443 1,136 1,299 1,299 1,359 Mortgage banking costs 2,987 2,944 3,034 2,869 2,839 Change in fair value of mortgage servicing rights (5,061) 1,164 (236) 7,921 (3,613) Other expense 6,721 4,739 8,236 8,612 6,598 -------------- --------------- ------------- --------------- ------------ Total other operating expense 135,959 132,512 133,991 138,810 122,127 Income before taxes 83,133 82,016 78,057 77,497 86,064 Federal and state income taxes 29,270 29,223 27,472 24,837 31,080 -------------- --------------- ------------- --------------- ------------ Net income $ 53,863 $ 52,793 $ 50,585 $ 52,660 $ 54,984 ============== =============== ============= =============== ============ Average shares outstanding: Basic 67,116,902 67,085,310 66,813,519 66,756,458 66,775,117 Diluted 67,606,330 67,574,671 67,359,208 67,325,428 67,317,681 Earnings per share: Basic $ 0.80 $ 0.79 $ 0.76 $ 0.79 $0.82 Diluted $ 0.80 $ 0.78 $ 0.75 $ 0.78 $0.82
LOANS BY PRINCIPAL MARKET AREA - UNAUDITED BOK FINANCIAL CORPORATION (In thousands) Quarter Ended ---------------------------------------------------------------------------------- June 30, March 31, December 31, September 30, June 30, 2007 2007 2006 2006 2006 -------------- --------------- ------------- --------------- -------------- Oklahoma: Commercial $ 3,397,273 $ 3,377,819 $ 3,261,592 $ 3,078,849 $ 3,119,736 Commercial real estate 897,838 895,585 979,251 968,267 995,953 Residential mortgage 971,692 945,147 896,567 878,390 854,723 Residential mortgage held for sale 112,596 75,011 64,625 58,031 54,026 Consumer 540,986 509,787 512,032 502,622 479,508 -------------- --------------- ------------- --------------- -------------- Total Oklahoma 5,920,385 5,803,349 5,714,067 5,486,159 5,503,946 Texas: Commercial 1,856,049 1,797,262 1,722,627 1,557,361 1,548,545 Commercial real estate 888,118 721,207 670,635 639,327 669,698 Residential mortgage 263,344 216,087 213,801 212,114 212,987 Consumer 135,659 105,604 95,652 80,836 84,212 -------------- --------------- ------------- --------------- -------------- Total Texas 3,143,170 2,840,160 2,702,715 2,489,638 2,515,442 New Mexico: Commercial 434,394 424,539 411,272 387,164 334,984 Commercial real estate 263,342 279,203 257,079 219,966 237,020 Residential mortgage 81,521 77,800 75,159 76,858 73,281 Consumer 13,225 11,493 13,256 13,899 13,404 -------------- --------------- ------------- --------------- -------------- Total New Mexico 792,482 793,035 756,766 697,887 658,689 Arkansas: Commercial 103,534 96,084 95,483 89,849 80,539 Commercial real estate 102,537 97,190 94,395 91,158 87,080 Residential mortgage 22,508 21,825 23,076 21,923 15,067 Consumer 129,431 103,662 86,017 67,206 51,166 -------------- --------------- ------------- --------------- -------------- Total Arkansas 358,010 318,761 298,971 270,136 233,852 Colorado: Commercial 480,097 457,758 451,046 353,657 299,380 Commercial real estate 274,610 199,736 193,747 170,081 155,453 Residential mortgage 18,516 15,501 15,812 17,656 21,113 Consumer 18,470 17,746 26,591 32,647 31,939 -------------- --------------- ------------- --------------- -------------- Total Colorado 791,693 690,741 687,196 574,041 507,885 Arizona: Commercial 124,765 120,351 96,453 76,013 63,019 Commercial real estate 326,951 316,661 207,035 196,286 153,870 Residential mortgage 43,192 41,731 31,280 34,772 33,913 Consumer 4,683 8,654 5,947 5,737 6,511 -------------- --------------- ------------- --------------- -------------- Total Arizona 499,591 487,397 340,715 312,808 257,313 Kansas: Commercial 152,720 168,543 170,411 134,683 93,115 Commercial real estate 38,584 41,065 44,398 40,074 23,862 Residential mortgage 2,525 200 564 480 364 Consumer 222 43 - - - -------------- --------------- ------------- --------------- -------------- Total Kansas 194,051 209,851 215,373 175,237 117,341 -------------- --------------- ------------- --------------- -------------- TOTAL BOK FINANCIAL $ 11,699,382 $ 11,143,294 $ 10,715,803 $ 10,005,906 $ 9,794,468 ============== =============== ============= =============== ==============
DEPOSITS BY PRINCIPAL MARKET AREA - UNAUDITED BOK FINANCIAL CORPORATION (In thousands) Quarter Ended --------------------------------------------------------------------------------------- June 30, March 31, December 31, September 30, June 30, 2007 2007 2006 2006 2006 -------------- --------------- ------------- --------------- -------------- Oklahoma: Demand $ 876,671 $ 877,623 $ 915,101 $ 868,502 $ 908,034 Interest-bearing: Transaction 3,470,896 3,481,859 3,456,322 3,001,774 2,732,312 Savings 88,133 92,678 83,017 83,442 88,218 Time 2,798,719 2,556,423 2,595,890 2,621,522 2,662,770 -------------- --------------- ------------- --------------- -------------- Total interest-bearing 6,357,748 6,130,960 6,135,229 5,706,738 5,483,300 -------------- --------------- ------------- --------------- -------------- Total Oklahoma 7,234,419 7,008,583 7,050,330 6,575,240 6,391,334 -------------- --------------- ------------- --------------- -------------- Texas: Demand 626,193 602,315 640,159 582,014 638,157 Interest-bearing: Transaction 2,019,311 1,701,382 1,688,131 1,671,993 1,530,491 Savings 36,989 24,558 24,074 25,888 26,370 Time 804,877 682,292 829,255 736,316 717,027 -------------- --------------- ------------- --------------- -------------- Total interest-bearing 2,861,177 2,408,232 2,541,460 2,434,197 2,273,888 -------------- --------------- ------------- --------------- -------------- Total Texas 3,487,370 3,010,547 3,181,619 3,016,211 2,912,045 -------------- --------------- ------------- --------------- -------------- New Mexico: Demand 113,579 126,111 124,088 144,138 147,307 Interest-bearing: Transaction 521,154 464,569 432,342 434,521 410,166 Savings 17,662 17,972 16,417 16,804 16,860 Time 500,443 485,662 490,460 481,993 494,426 -------------- --------------- ------------- --------------- -------------- Total interest-bearing 1,039,259 968,203 939,219 933,318 921,452 -------------- --------------- ------------- --------------- -------------- Total New Mexico 1,152,838 1,094,314 1,063,307 1,077,456 1,068,759 -------------- --------------- ------------- --------------- -------------- Arkansas: Demand 11,030 10,980 12,589 11,914 11,521 Interest-bearing: Transaction 22,096 21,762 17,905 19,504 20,577 Savings 1,011 1,029 1,010 1,058 1,072 Time 46,597 54,687 57,446 61,966 69,418 -------------- --------------- ------------- --------------- -------------- Total interest-bearing 69,704 77,478 76,361 82,528 91,067 -------------- --------------- ------------- --------------- -------------- Total Arkansas 80,734 88,458 88,950 94,442 102,588 -------------- --------------- ------------- --------------- -------------- Colorado: Demand 42,006 39,821 48,756 38,264 45,214 Interest-bearing: Transaction 398,972 314,506 328,254 275,714 245,504 Savings 62,211 12,092 12,632 13,037 13,786 Time 549,676 502,880 485,200 421,841 379,239 -------------- --------------- ------------- --------------- -------------- Total interest-bearing 1,010,859 829,478 826,086 710,592 638,529 -------------- --------------- ------------- --------------- -------------- Total Colorado 1,052,865 869,299 874,842 748,856 683,743 -------------- --------------- ------------- --------------- -------------- Arizona: Demand 31,196 29,461 39,352 62,234 73,696 Interest-bearing: Transaction 74,892 67,364 73,729 74,786 67,841 Savings 1,233 1,367 1,978 2,408 2,702 Time 11,563 10,018 6,574 4,549 4,077 -------------- --------------- ------------- --------------- -------------- Total interest-bearing 87,688 78,749 82,281 81,743 74,620 -------------- --------------- ------------- --------------- -------------- Total Arizona 118,884 108,210 121,633 143,977 148,316 -------------- --------------- ------------- --------------- -------------- Kansas: Demand 1,081 325 14 - - Interest-bearing: Transaction 1,356 670 287 - - Savings 12 11 2 - - Time 32,695 28,166 5,721 - - -------------- --------------- ------------- --------------- -------------- Total interest-bearing 34,063 28,847 6,010 - - -------------- --------------- ------------- --------------- -------------- Total Kansas 35,144 29,172 6,024 - - -------------- --------------- ------------- --------------- -------------- TOTAL BOK FINANCIAL $ 13,162,254 $ 12,208,583 $ 12,386,705 $ 11,656,182 $ 11,306,785 ============== =============== ============= =============== ==============
NET INTEREST MARGIN TREND - UNAUDITED BOK FINANCIAL CORPORATION Quarter Ended ---------------------------------------------------------------------------------- June 30, March 31, December 31, September 30, June 30, 2007 2007 2006 2006 2006 -------------- --------------- ------------- --------------- ---------- TAX-EQUIVALENT ASSETS YIELDS Trading securities 5.86% 7.11% 5.64% 4.13% 4.86% Funds sold and resell agreements 5.53% 4.84% 5.46% 5.00% 5.09% Securities: Taxable 4.85% 4.86% 4.69% 4.63% 4.75% Tax-exempt 5.73% 6.09% 5.52% 5.43% 5.12% -------------- --------------- ------------- --------------- ---------- Total securities 4.90% 4.93% 4.74% 4.68% 4.77% Total loans 7.94% 7.93% 7.94% 7.99% 7.68% Less Allowance for loan losses - - - - - -------------- --------------- ------------- --------------- ---------- Total loans, net 8.03% 8.02% 8.02% 8.08% 7.76% -------------- --------------- ------------- --------------- ---------- Total tax-equivalent yield on earning assets 7.00% 7.02% 6.93% 6.91% 6.71% COST OF INTEREST-BEARING LIABILITIES Interest-bearing deposits: Interest-bearing transaction 3.02% 3.08% 2.99% 2.88% 2.61% Savings 0.95% 1.03% 1.04% 0.98% 0.92% Time 4.76% 4.69% 4.65% 4.46% 4.26% -------------- --------------- ------------- --------------- ---------- Total interest-bearing deposits 3.69% 3.72% 3.67% 3.54% 3.30% Funds purchased and repurchase agreements 5.06% 5.16% 5.18% 5.11% 4.87% Other borrowings 5.45% 5.52% 5.50% 5.42% 5.09% Subordinated debt 6.66% 7.09% 6.95% 7.05% 6.76% -------------- --------------- ------------- --------------- ---------- Total cost of interest-bearing liabilities 4.12% 4.14% 4.10% 3.98% 3.73% -------------- --------------- ------------- --------------- ---------- Tax-equivalent net interest revenue spread 2.88% 2.88% 2.83% 2.93% 2.98% Effect of noninterest-bearing funding sources and oth0.43% 0.44% 0.42% 0.45% 0.42% -------------- --------------- ------------- --------------- ---------- Tax-equivalent net interest margin 3.31% 3.32% 3.25% 3.38% 3.40% ============== =============== ============= =============== ==========
CREDIT QUALITY INDICATORS BOK FINANCIAL CORPORATION (In thousands, except ratios) Quarter Ended --------------------------------------------------------------------------------- June 30, March 31, December 31, September 30, June 30, 2007 2007 2006 2006 2006 -------------- --------------- ------------- --------------- -------------- Nonperforming assets: Nonaccruing loans $ 52,019 $ 31,334 $ 26,055 $ 30,476 $ 30,976 Renegotiated loans 731 964 1,111 1,064 - Real estate and other repossessed assets 7,664 8,414 8,486 9,322 8,257 -------------- --------------- ------------- --------------- -------------- Total nonperforming assets $ 60,414 $ 40,712 $ 35,652 $ 40,862 $ 39,233 ============== =============== ============= =============== ============== Performing loans 90 days past due $ 4,215 $ 20,623 $ 5,945 $ 5,076 $ 9,630 Gross charge-offs $ 8,811 $ 6,387 $ 5,867 $ 8,099 $ 5,881 Recoveries 3,039 3,268 3,079 3,803 2,085 -------------- --------------- ------------- --------------- -------------- Net charge-offs $ 5,772 $ 3,119 $ 2,788 $ 4,296 $ 3,796 ============== =============== ============= =============== ============== Provision for credit losses $ 7,820 $ 6,500 $ 5,953 $ 5,254 $ 3,795 Reserve for loan losses to period end loans (A) 1.03% 1.03% 1.03% 1.06% 1.07% Combined reserves for credit losses to period end loans 1.20% 1.21% 1.22% 1.28% 1.30% Nonperforming assets to period end loans (A) and repossessed assets 0.52% 0.37% 0.33% 0.41% 0.40% Net charge-offs (annualized) to average loans (A) 0.21% 0.12% 0.11% 0.18% 0.16% Reserve for loan losses to nonaccruing loans 230.22% 365.01% 420.25% 346.06% 337.44% Combined reserves for credit losses to nonaccruing loa267.99% 426.91% 500.43% 417.45% 407.62% (A) excluding residential mortgage loans held for sale