(In thousands, except share and per share amounts)

Three Months Ended September 30,

Nine Months Ended
September 30,

2021

2020

2021

2020

Numerator:

Net income attributable to BOK Financial Corp. shareholders

$

188,322

$

154,034

$

500,803

$

280,806

Less: Earnings allocated to participating securities

1,351

938

3,458

1,678

Numerator for basic earnings per share – income available to common shareholders

186,971

153,096

497,345

279,128

Effect of reallocating undistributed earnings of participating securities

—

Numerator for diluted earnings per share – income available to common shareholders

$

186,971

$

153,096

$

497,345

$

279,128

Denominator:

Weighted average shares outstanding

68,852,688

70,306,233

69,243,562

70,375,628

Less: Participating securities included in weighted average shares outstanding

493,563

428,367

475,518

416,684

Denominator for basic earnings per common share

68,359,125

69,877,866

68,768,044

69,958,944

Dilutive effect of employee stock compensation plans1

1,746

1,424

2,619

3,109

Denominator for diluted earnings per common share

68,360,871

69,879,290

68,770,663

69,962,053

Basic earnings per share

$

2.74

$

2.19

$

7.23

$

3.99

Diluted earnings per share

$

2.74

$

2.19

$

7.23

$

3.99

1 Excludes employee stock options with exercise prices greater than current market price.

—

19,227

—