Parent Company Only Financial Statements Parent Company Only Financial Statements

12 Months Ended

Dec. 31, 2021

Parent Company Only Financial Statements

Summarized financial information for BOK Financial – Parent Company Only follows:

Balance Sheets

(In thousands)


	December 31,
	2021		2020
Assets
Cash and cash equivalents	$	230,647	$	183,805

Loan to bank subsidiary	65,187		65,204
Investment in bank subsidiary	4,951,405		5,079,336
Investment in non-bank subsidiaries	228,447		195,768
Other assets	22,011		24,338
Total assets	$	5,497,697	$	5,548,451

Liabilities and Shareholders’ Equity
Liabilities:
Other liabilities	$	2,739	$	6,180
Subordinated debentures	131,226		276,005
Total liabilities	133,965		282,185
Shareholders’ equity:
Common stock	5		5
Capital surplus	1,378,794		1,368,062
Retained earnings	4,447,691		3,973,675
Treasury stock	(535,129)		(411,344)
Accumulated other comprehensive income	72,371		335,868
Total shareholders’ equity	5,363,732		5,266,266
Total liabilities and shareholders’ equity	$	5,497,697	$	5,548,451

Statements of Earnings

(In thousands)


	Year Ended December 31,
	2021		2020		2019
Dividends, interest and fees received from bank subsidiary	$	483,868	$	179,140	$	344,007
Dividends, interest and fees received from non-bank subsidiaries	8,030		25,050		9,325
Other revenue	767		907		1,036

Total revenue	492,665		205,097		354,368
Interest expense	10,535		13,944		15,113
Other operating expense	2,914		2,697		2,352
Total expense	13,449		16,641		17,465
Net income before taxes, other losses, net, and equity in undistributed income of subsidiaries	479,216		188,456		336,903
Other gains (losses), net	(3,415)		1,465		3,310
Net income before taxes and equity in undistributed income of subsidiaries	475,801		189,921		340,213
Federal and state income taxes	(4,202)		(4,502)		(4,516)
Net income before equity in undistributed income of subsidiaries	480,003		194,423		344,729
Equity in undistributed income of bank subsidiaries	126,380		276,217		166,797
Equity in undistributed income of non-bank subsidiaries	11,738		(35,610)		(10,768)
Net income attributable to BOK Financial Corp. shareholders	$	618,121	$	435,030	$	500,758

Statements of Cash Flows

(In thousands)


	Year Ended December 31,
	2021		2020		2019
Cash Flows From Operating Activities:
Net income	$	618,121	$	435,030	$	500,758
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed income of bank subsidiaries	(126,380)		(276,217)		(166,797)
Equity in undistributed income of non-bank subsidiaries	(11,738)		35,610		10,768
Other losses (gains), net	3,415		(1,465)		(3,310)
Change in other assets	1,160		15,225		(1,765)
Change in other liabilities	389		850		855
Net cash provided by operating activities	484,967		209,033		340,509
Cash Flows From Investing Activities:
Investment in subsidiaries	(25,665)		(14,807)		(19,837)
Dissolution of subsidiaries	4,457		—		—

Net cash used in investing activities	(21,208)		(14,807)		(19,837)
Cash Flows From Financing Activities:
Repayment of subordinated debentures	(150,000)		—		—
Issuance of common and treasury stock, net	(4,874)		(4,933)		(7)
Dividends paid	(144,105)		(144,437)		(143,496)
Repurchase of common stock	(117,938)		(75,830)		(129,483)
Net cash used in financing activities	(416,917)		(225,200)		(272,986)
Net increase (decrease) in cash and cash equivalents	46,842		(30,974)		47,686
Cash and cash equivalents at beginning of period	183,805		214,779		167,093
Cash and cash equivalents at end of period	$	230,647	$	183,805	$	214,779
Cash paid for interest	$	10,559	$	14,064	$	15,099