Exhibit 21

BOK FINANCIAL CORPORATION

SUBSIDIARIES OF THE REGISTRANT

Banking Subsidiaries

BOKF, National Association(1)

Other subsidiaries of BOK Financial Corporation

BOK Capital Service Corporation

BOKC Real Estate Corporation(7)

BOKF Capital Corporation

BOKF-CC (Aimbridge), LLC

BOKF-CC (FSE), LLC

BOKF-CS (Global Holdings), LLC

BOKF-CC (Heartland), LLC

BOKF-CS (Newco Valves), LLC

BOKF-CC (02 Concepts), LLC

BOKF-CC (QAA), LLC(3)

BOKF, Equity LLC

BOKF Private Equity Limited Partnership

BOKF Private Equity Limited Partnership II

BOSC, Inc.

Cavanal Hill Distributors, Inc.

Heartland Food Products, LLC (7)

HFP II, LLC

Lakeland Operating Company, LLC(6)

The Milestone Group, Inc.(5)

Quality Aircraft Accessories Holding Corporation(3)

Quality Aircraft Accessories, Inc. (3)

Subsidiaries of BOKF, National Association(1)

4525-4527 Fairway, LLC

Affiliated BancServices, Inc.

Affiliated Financial Holding Company

Affiliated Financial Insurance Agency, Inc.

BancOklahoma Agri-Service Corporation

BancOklahoma Mortage Corporation

BOK Delaware, Inc.(3)

BOK Financial Asset Management, Inc. (2)

BOK Financial Equipment Finance, Inc.

BOK Funding Trust(3)

BOKFCDF Fund I, LLC

BOKF Community Development Fund, LLC

BOKF Community Development Corporation

BOKF Special Assets I, LLC

BOSC Agency, Inc. (Oklahoma)

BOSC Agency, Inc. (New Mexico) (4)

BOSC Agency, Inc.. (Texas) (2)

Cavanal Hill Investment Management, Inc.

CVV Management, Inc.

CVV Partnership, an Oklahoma General Partnership

Calicotte Ranch HOA, LLC

Cottonwood Valley Ventures, Inc.

NGV Fleet Leasing, LLC

NGV Investment Fund, LLC

Oklahoma New Markets Fund I, LLC

Oklahoma New Markets Fund II, LLC

Oklahoma New Markets Fund III, LLC

Oklahoma New Markets Fund IV, LLC

Pacesetter Leasing Company

All Subsidiaries listed above were incorporated in Oklahoma, except as noted.

(1) Chartered by the United States Government

(2) Incorporated in Texas

(3) Incorporated in Delaware

(4) Incorporated in New Mexico

(5) Incorporated in Colorado

(6) Incorporated in California

(7) Incorporated in Kansas