Exhibit 99.1(a)

                                                    NASD: BOKF

BOK Financial Corporation Reports Quarterly Earnings of $157 million or $2.32Per Share in the Third Quarter

CEO Commentary

Stacy Kymes, president and chief executive officer, stated, “The third quarter was another very strong quarter as we sustain our momentum around top-line revenue growth. I am proud to see the hard work of our team show up in consistent loan growth, net interest margin improvement and non-interest revenue growth while our efficiency ratio has moved well below 60 percent. Although our asset quality trends remain unsustainably good, we added to our loan loss reserves this quarter in recognition of the loan growth and less certain economic forecast. While the longer-term economic outlook is less certain, we remain optimistic about our ability to grow earnings from current levels in the near-term."

Third Quarter 2022 Financial Highlights

(Unless indicated otherwise, all comparisons are to the prior quarter)

•Net income was $156.5 million or $2.32 per diluted share for the third quarter of 2022 and $132.8 million or $1.96 per diluted share for the second quarter of 2022.

•Net interest revenue totaled $316.3 million, an increase of $42.3 million. Net interest margin was 3.24 percent compared to 2.76 percent. In response to rising inflation, the Federal Reserve increased the federal funds rate another 150 basis points in the third quarter to a total of 300 basis points since the beginning of 2022. The resulting impact on market interest rates has increased net interest margin.

•Fees and commissions revenue increased $19.3 million to $192.6 million. Brokerage and trading revenue increased $17.0 million, largely due to higher margins on trading activity driven by favorable market conditions and increased market volatility. Additionally, the third quarter was a record quarter for investment banking revenue.

•The net cost of the changes in fair value of mortgage servicing rights and related economic hedges was $4.8 million for the third quarter of 2022 compared to a net benefit of $1.9 million for the second quarter of 2022, due to increased market volatility in the third quarter.

•Operating expense increased $21.1 million to $294.8 million. Personnel expense increased $15.4 million, largely driven by higher incentive compensation expense. Non-personnel expense increased $5.7 million, primarily related to project-related professional fees and seasonal occupancy costs.

•Period-end loans increased $499 million to $21.8 billion at September 30, 2022. Of this increase, commercial real estate loans grew $368 million, while loans to individuals increased $125 million. In addition, unfunded loan commitments grew by $1.1 billion. Average outstanding loan balances were $21.6 billion, a $542 million increase.

•A $15.0 million provision for expected credit losses was recorded in the third quarter of 2022, primarily due to loan growth and increased uncertainty in the economic outlook, partially offset by improving credit quality metrics. No provision for expected credit losses was necessary for the second quarter of 2022. The combined allowance for credit losses totaled $298 million or 1.37 percent of outstanding loans at September 30, 2022. The combined allowance for credit losses was $283 million or 1.33 percent of outstanding loans at June 30, 2022.

•Average deposits decreased $1.5 billion to $37.0 billion and period-end deposits decreased $2.2 billion to $36.4 billion, consistent with industry trends as customers redeploy resources following the savings trend during the height of the pandemic. Average interest-bearing deposits decreased $1.4 billion and average demand deposits were reduced by $97 million.

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•The company's common equity Tier 1 capital ratio was 11.80 percent at September 30, 2022. In addition, the company's Tier 1 capital ratio was 11.82 percent, total capital ratio was 12.81 percent, and leverage ratio was 9.76 percent at September 30, 2022. At June 30, 2022, the company's common equity Tier 1 capital ratio was 11.61 percent, Tier 1 capital ratio was 11.63 percent, total capital ratio was 12.59 percent, and leverage ratio was 9.12 percent.

•The company repurchased 548,034 shares of common stock at an average price of $91.20 a share in the third quarter of 2022.

Third Quarter 2022 Segment Highlights

•Commercial Banking contributed $132.9 million to net income in the third quarter of 2022, an increase of $28.1 million. Combined net interest revenue and fee revenue increased $38.6 million due to loan growth and increased spreads on deposits sold to the Funds Management unit. Net loans recovered were $976 thousand less than the prior quarter. Personnel expense increased $2.8 million, driven by incentive compensation costs associated with growth in loans. Linked quarter performance also improved due to a $5.8 million write-down of a repossessed equity interest in a midstream energy entity in the prior quarter. Average loans increased $568 million or 3 percent to $17.9 billion. Average deposits decreased $967 million or 5 percent to $18.0 billion.

•Consumer Banking contributed $3.0 million to net income in the third quarter of 2022, an increase of $1.7 million over the prior quarter. The net cost of the changes in fair value of mortgage servicing rights and related economic hedges was $4.8 million for the third quarter of 2022 compared to a net benefit of $1.9 million for the second quarter of 2022. Combined net interest revenue and fee revenue increased $10.3 million, primarily due to an increase in the spread on deposits sold to our Funds Management unit. Fees and commissions revenue and operating expense were consistent with the prior quarter. Both average loans and average deposits were also relatively consistent with the previous quarter.

•Wealth Management contributed $41.8 million to net income in the third quarter of 2022, an increase of $14.5 million over the second quarter of 2022. Our diverse set of investment-focused businesses, which include trading in fixed income securities and other financial instruments and providing wealth management services to institutional and private wealth clients, produced total net interest and fee revenues of $146.7 million, an increase of $22.2 million. Total revenue from trading activities increased $5.0 million, primarily due to higher margins on residential mortgage-backed securities trading activity. Investment banking revenue grew $3.2 million due to increased underwriting fees and financial advisory fees. Other revenue increased $8.3 million, largely due to higher derivative margin use fees. Operating expense increased $2.8 million, mainly due to increased volume-driven incentive compensation costs. Average loans were consistent with the prior quarter. Average deposits decreased $484 million or 6 percent to $8.0 billion. Assets under management were $95.4 billion, a decrease of $580 million.

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Net Interest Revenue

Net interest revenue was $316.3 million for the third quarter of 2022 compared to $274.0 million for the second quarter of 2022. Net interest margin was 3.24 percent compared to 2.76 percent. In response to rising inflation, the Federal Reserve increased the federal funds rate 150 basis points in the third quarter bringing the year-to-date total rate increases to 300 basis points. The resulting impact on market interest rates has increased net interest margin as our earning assets, led by our significant percentage of variable-rate commercial loans, reprice at a higher rate and faster pace than our interest-bearing liabilities.

Average earning assets decreased $534 million. Average trading securities decreased $989 million in response to lower origination volumes in the residential mortgage industry driven by increases in interest rates. Average loan balances increased $542 million, largely due to growth in commercial real estate loans and loans to individuals. Average available for sale securities decreased $2.0 billion while investment securities increased $2.0 billion. Late in the second quarter, $2.4 billion in U.S. government agency mortgage-backed securities were transferred from available for sale to investment securities to limit the effect of future rate increases on the tangible common equity ratio. Average interest bearing cash and cash equivalents decreased $95 million. Average interest-bearing deposits decreased $2.2 billion as customers redeploy resources following the height of the pandemic. Average funds purchased and repurchase agreements decreased $423 million while other borrowings increased $228 million.

The yield on average earning assets was 3.71 percent, up 75 basis points. The loan portfolio yield increased 97 basis points to 4.89 percent while the yield on trading securities was up 72 basis points to 2.72 percent. The yield on the available for sale securities portfolio increased 37 basis points to 2.21 percent. The yield on investment securities decreased 93 basis points due to the transfer of securities from the available for sale portfolio to the investment portfolio. The yield on interest-bearing cash and cash equivalents increased 104 basis points.

Funding costs were 0.76 percent, a 45 basis point increase. The cost of interest-bearing deposits increased 39 basis points to 0.63 percent. The cost of other borrowings was up 132 basis points to 2.33 percent while the cost of funds purchased and repurchase agreements increased 19 basis points to 0.72 percent. The benefit to net interest margin from assets funded by non-interest liabilities was 29 basis points, an increase of 18 basis points.

Operating Revenue

Fees and commissions revenue totaled $192.6 million for the third quarter of 2022, up $19.3 million, led by a $17.0 million increase in brokerage and trading revenue. Trading revenue increased $14.5 million, largely due to higher margins on residential mortgage-backed securities trading activity driven by favorable market conditions and increased market volatility. Total investment banking revenue increased $2.4 million, primarily due to growth in the size and number of municipal bond transactions.

Mortgage banking revenue remained consistent with the prior quarter with growth in mortgage servicing revenue offsetting a reduction in mortgage production revenue. Two acquisitions of mortgage servicing rights at the end of the second quarter led to an increase in mortgage servicing revenue of $1.8 million. Mortgage production revenue decreased $1.9 million as rising mortgage interest rates and inventory constraints continue to place pressure on mortgage loan originations. Mortgage production volume decreased $76.0 million to $230.0 million. Refinance activity as percentage of total production declined to 10 percent, the lowest in recent history.

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All other fee revenue was relatively consistent with the prior quarter, increasing $2.4 million in total.

Other gains and losses, net, increased $8.6 million, primarily driven by a write-down of a repossessed equity interest in a midstream entity in the prior quarter combined with a change in the value of deferred compensation investments, which are held to offset the cost of various employee benefit programs.

Operating Expense

Total operating expense was $294.8 million for the third quarter of 2022, an increase of $21.1 million compared to the second quarter of 2022.

Personnel expense increased $15.4 million. Deferred compensation expense increased $6.0 million and share-based incentive compensation expense increased $4.3 million. These expenses are influenced by market valuations and forecasted annual results compared to a peer group, both of which can be volatile. Strong sales results in our Commercial and Wealth segments led to a $4.9 million increase in cash-based incentive compensation.

Non-personnel expense was $124.4 million, up $5.7 million. Higher seasonal operating costs on leases led to a $1.8 million increase in net occupancy and equipment expense while project-related professional fees led to a $1.6 million increase in professional fees and services.

Loans, Deposits and Capital

Loans

Outstanding loans were $21.8 billion at September 30, 2022, growing $499 million over June 30, 2022, due to growth in commercial real estate loans and loans to individuals. Unfunded loan commitments also were up $1.1 billion over the second quarter.

Outstanding commercial loan balances were largely unchanged compared to the prior quarter. Growth in healthcare and general business loans were offset by a decrease in services and energy loan balances.

Healthcare sector loan balances increased $130 million, totaling $3.8 billion or 18 percent of total loans. Our healthcare sector loans primarily consist of $3.1 billion of senior housing and care facilities, including independent living, assisted living and skilled nursing. Generally, we loan to borrowers with a portfolio of multiple facilities, which serves to help diversify risks specific to a single facility.

General business loans increased $61 million to $3.1 billion or 14 percent of total loans. General business loans include $1.8 billion of wholesale/retail loans and $1.3 billion of loans from other commercial industries.

Services sector loan balances decreased $141 million to $3.3 billion or 15 percent of total loans. Services loans consist of a large number of loans to a variety of businesses, including Native American tribal and state and local municipal government entities, Native American tribal casino operations, foundations and not-for-profit organizations, educational services and specialty trade contractors.

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Energy loan balances decreased $21 million to $3.4 billion or 15 percent of total loans. The majority of this portfolio is first lien, senior secured, reserve-based lending to oil and gas producers, which we believe is the lowest risk form of energy lending. Approximately 72 percent of committed production loans are secured by properties primarily producing oil. The remaining 28 percent is secured by properties primarily producing natural gas. Unfunded energy loan commitments were $3.5 billion at September 30, 2022, an increase of $107 million over June 30, 2022.

Commercial real estate loan balances grew $368 million and represent 21 percent of total loans. Loans secured by multifamily residential properties increased $248 million to 1.1 billion. Loans secured by industrial facilities increased $150 million to $1.1 billion. This growth was partially offset by a $20 million decrease in construction and land development loans and a $14 million decrease in loans secured by office buildings.

PPP loan balances decreased $23 million to $20 million, or less than 1 percent of the total loans balance.

Loans to individuals increased $125 million and represent 17 percent of total loans. Total residential mortgage loans increased $36 million while personal loans increased $90 million.

Deposits

Period-end deposits totaled $36.4 billion at September 30, 2022, a $2.2 billion decrease, consistent with industry trends as customers redeploy cash resources following the savings trend during the pandemic. Interest-bearing transaction account balances decreased $1.5 billion while demand deposits decreased $735 million. Period-end Commercial Banking deposits decreased $1.8 billion, Wealth Management deposits decreased $237 million, and Consumer Banking deposits were largely unchanged. Average deposits were $37.0 billion at September 30, 2022, a $1.5 billion decrease. Average interest-bearing transaction account balances decreased $1.5 billion and average demand deposit account balances decreased $97 million.

Capital

The company's common equity Tier 1 capital ratio was 11.80 percent at September 30, 2022. In addition, the company's Tier 1 capital ratio was 11.82 percent, total capital ratio was 12.81 percent, and leverage ratio was 9.76 percent at September 30, 2022. At the beginning of 2020, we elected to delay the regulatory capital impact of the transition of the allowance for credit losses from the incurred loss methodology to CECL for two years, followed by a three-year transition period. This election added 9 basis points to the company's common equity tier 1 capital ratio at September 30, 2022. At June 30, 2022, the company's common equity Tier 1 capital ratio was 11.61 percent, Tier 1 capital ratio was 11.63 percent, total capital ratio was 12.59 percent, and leverage ratio was 9.12 percent.

The company's tangible common equity ratio, a non-GAAP measure, was 7.96 percent at September 30, 2022 and 8.16 percent at June 30, 2022. The tangible common equity ratio is primarily based on total shareholders' equity, which includes unrealized gains and losses on available for sale securities. The company has elected to exclude unrealized gains and losses from available for sale securities from its calculation of Tier 1 capital for regulatory capital purposes, consistent with the treatment under the previous capital rules.

The company repurchased 548,034 shares of common stock at an average price of $91.20 a share in the third quarter of 2022. We view share buybacks opportunistically, but within the context of maintaining our strong capital position.

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Credit Quality

Expected credit losses on assets carried at amortized cost are recognized over their projected lives based on models that measure the probability of default and loss given default over a 12-month reasonable and supportable forecast period. Our models incorporate base case, downside and upside macroeconomic variables such as real gross domestic product ("GDP") growth, civilian unemployment rates and West Texas Intermediate ("WTI") oil prices on a probability weighted basis.

A $15.0 million provision for credit losses was necessary for the third quarter of 2022, primarily related to strong loan growth in loans and unfunded commitments during the quarter. The level of uncertainty in the economic outlook of our reasonable and supportable forecast continued to increase, offset by the impact of a sustained trend of improving credit quality metrics.

Our base case reasonable and supportable forecast assumes inflation peaks in the third quarter of 2022 and begins to slowly normalize thereafter. We expect the Russian-Ukraine conflict remains isolated and conditions improve in the fourth quarter of 2022. GDP is projected to grow by 1.4 percent over the next twelve months as labor force participants will continue to re-enter the job market to help meet record job openings. Inflation pressures cause modest declines in real household income compared to pre-pandemic levels, resulting in below-trend GDP growth. Our forecasted civilian unemployment rate is 3.9 percent for the fourth quarter of 2022, increasing to 4.1 percent by the third quarter of 2023. Our base case also assumes the Federal Reserve increases federal funds rates resulting in a target range of 4.00 percent to 4.25 percent by December 2022. No additional rate increases in 2023 are anticipated. WTI oil prices are projected to generally follow the NYMEX forward curve that existed at the end of September 2022, averaging $81.86 per barrel over the next twelve months.

The probability weighting of our base case reasonable and supportable forecast decreased to 50 percent in the third quarter of 2022 compared to 55 percent in the second quarter of 2022 as the level of uncertainty in economic forecasts continued to increase. Our downside case, probability weighted at 40 percent, assumes the Russia-Ukraine conflict persists through the third quarter of 2023, but does remain isolated. Higher levels of inflation force the Federal Reserve to adopt a more aggressive monetary policy to combat the inflationary environment. This results in a federal funds target range of 4.75 percent to 5.00 percent by September 2023. The United States economy is pushed into a recession, with a contraction in economic activity and a sharp increase in the unemployment rate from 4.5 percent in the fourth quarter of 2022 to 6.4 percent in the third quarter of 2023. In this scenario, real GDP is expected to contract 1.3 percent over the next four quarters. WTI oil prices are projected to average $72.58 per barrel over the next twelve months, peaking at $92.87 in the fourth quarter of 2022 and falling 39 percent over the following three quarters.

Nonperforming assets totaled $336 million or 1.54 percent of outstanding loans and repossessed assets at September 30, 2022, compared to $333 million or 1.56 percent at June 30, 2022. Nonperforming assets that are not guaranteed by U.S. government agencies totaled $144 million or 0.67 percent of outstanding loans and repossessed assets at September 30, 2022, compared to $118 million or 0.56 percent at June 30, 2022.

Nonaccruing loans were $131 million or 0.60 percent of outstanding loans at September 30, 2022. Nonaccruing commercial loans totaled $76 million or 0.56 percent of outstanding commercial loans. Nonaccruing commercial real estate loans totaled $8.0 million or 0.18 percent of outstanding commercial real estate loans. Nonaccruing loans to individuals totaled $47 million or 1.28 percent of outstanding loans to individuals.

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Nonaccruing loans increased$17 million over June 30, 2022, primarily related to nonaccruing healthcare and services loans, partially offset by a decrease in nonaccruing energy loans. New nonaccruing loans identified in the third quarter totaled $54 million, offset by $24 million in payments received, $8.2 million in foreclosures and $1.8 million in gross charge-offs.

Potential problem loans, which are defined as performing loans that, based on known information, cause management concern as to the borrowers' ability to continue to perform, totaled $95 million at September 30, 2022, down from $131 million at June 30. Potential problem healthcare loans decreased $27 million and potential problem services loans decreased $10 million.

At September 30, 2022, the combined allowance for loan losses and accrual for off-balance sheet credit risk from unfunded loan commitments was $298 million or 1.37 percent of outstanding loans and 262 percent of nonaccruing loans. The allowance for loan losses totaled $242 million or 1.11 percent of outstanding loans and 212 percent of nonaccruing loans. At June 30, 2022, the combined allowance for loan losses and accrual for off-balance sheet credit risk from unfunded loan commitments was $283 million or 1.33 percent of outstanding loans and 295 percent of nonaccruing loans. The allowance for loan losses was $241 million or 1.13 percent of outstanding loans and 251 percent of nonaccruing loans. Allowance percentages referenced above omit residential mortgage loans guaranteed by U.S. government agencies.

Gross charge-offs were $1.8 million for the third quarter compared to $1.4 million for the second quarter of 2022. Recoveries totaled $1.3 million for the third quarter of 2022 and $2.2 million for the prior quarter. Net charge-offs were $457 thousand or 0.01 percent of average loans on an annualized basis in the third quarter compared to net recoveries of $799 thousand or (0.02) percent of average loans on an annualized basis in the second quarter. Net charge-offs were 0.02 percent of average loans over the last four quarters.

Securities and Derivatives

The fair value of the available for sale securities portfolio totaled $10.0 billion at September 30, 2022, a $112 million decrease compared to June 30, 2022. At September 30, 2022, the available for sale securities portfolio consisted primarily of $4.9 billion of residential mortgage-backed securities fully backed by U.S. government agencies and $4.0 billion of commercial mortgage-backed securities fully backed by U.S. government agencies. At September 30, 2022, the available for sale securities portfolio had a net unrealized loss of $936 million compared to $523 million at June 30, 2022.

We hold an inventory of trading securities in support of sales to a variety of customers. At September 30, 2022, the trading securities portfolio totaled $2.2 billion compared to $2.9 billion at June 30, 2022.

The company also maintains a portfolio of residential mortgage-backed securities issued by U.S. government agencies and interest rate derivative contracts as an economic hedge of the changes in the fair value of our mortgage servicing rights. This portfolio of fair value option securities decreased $4.0 million to $34 million at September 30, 2022.

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Derivative contracts are carried at fair value. At September 30, 2022, the net fair values of derivative contracts, before consideration of cash margin, reported as assets under our customer derivative programs totaled $1.5 billion compared to $2.0 billion at June 30, 2022. The aggregate net fair value of derivative contracts, before consideration of cash margin, held under these programs reported as liabilities totaled $1.5 billion at September 30, 2022 and $2.0 billion at June 30, 2022.

The net cost of the changes in the fair value of mortgage servicing rights and related economic hedges was $4.8 million during the third quarter of 2022, including a $16.6 million increase in the fair value of mortgage servicing rights, $21.4 million decrease in the fair value of securities and derivative contracts held as an economic hedge, and $29 thousand of related net interest revenue.

Conference Call and Webcast

The company will hold a conference call at 9 a.m. Central time on Wednesday, October 26, 2022 to discuss the financial results with investors. The live audio webcast and presentation slides will be available on the company’s website at www.bokf.com. The conference call can also be accessed by dialing 1-201-689-8471. A conference call and webcast replay will also be available shortly after conclusion of the live call at www.bokf.com or by dialing 1-877-407-4018 and referencing conference ID # 13733709.

About BOK Financial Corporation

BOK Financial Corporation is a $44 billion regional financial services company headquartered in Tulsa, Oklahoma with $95 billion in assets under management and administration. The company's stock is publicly traded on NASDAQ under the Global Select market listings (BOKF). BOK Financial Corporation's holdings include BOKF, NA; BOK Financial Securities, Inc., BOK Financial Private Wealth, Inc. and BOK Financial Insurance, Inc. BOKF, NA's holdings include TransFund, Cavanal Hill Investment Management, Inc. and BOK Financial Asset Management, Inc. BOKF, NA operates banking divisions across eight states as: Bank of Albuquerque; Bank of Oklahoma; Bank of Texas; and BOK Financial in Arizona, Arkansas, Colorado, Kansas and Missouri; as well as having limited purpose offices in Nebraska, Wisconsin and Connecticut. Through its subsidiaries, BOK Financial Corporation provides commercial and consumer banking, brokerage trading, investment, trust and insurance services, mortgage origination and servicing, and an electronic funds transfer network. For more information, visit www.bokf.com.

The company will continue to evaluate critical assumptions and estimates, such as the appropriateness of the allowance for credit losses and asset impairment as of September 30, 2022 through the date its financial statements are filed with the Securities and Exchange Commission and will adjust amounts reported if necessary.

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This news release contains forward-looking statements that are based on management's beliefs, assumptions, current expectations, estimates and projections about BOK Financial Corporation, the financial services industry, the economy generally and the expected or potential impact of the novel coronavirus (COVID-19) pandemic, and the related responses of the government, consumers, and others, on our business, financial condition and results of operations. Words such as “anticipates,” “believes,” “estimates,” “expects,” “forecasts,” “plans,” “projects,” “will,” “intends,” variations of such words and similar expressions are intended to identify such forward-looking statements. Management judgments relating to and discussion of the provision and allowance for credit losses, allowance for uncertain tax positions, accruals for loss contingencies and valuation of mortgage servicing rights involve judgments as to expected events and are inherently forward-looking statements. Assessments that acquisitions and growth endeavors will be profitable are necessary statements of belief as to the outcome of future events based in part on information provided by others which BOK Financial has not independently verified. These various forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties, and assumptions which are difficult to predict with regard to timing, extent, likelihood and degree of occurrence. Therefore, actual results and outcomes may materially differ from what is expected, implied or forecasted in such forward-looking statements. Internal and external factors that might cause such a difference include, but are not limited to changes in government, consumer or business responses to, and ability to treat or prevent further outbreak of the COVID-19 pandemic, changes in commodity prices, interest rates and interest rate relationships, inflation, demand for products and services, the degree of competition by traditional and nontraditional competitors, changes in banking regulations, tax laws, prices, levies and assessments, the impact of technological advances, and trends in customer behavior as well as their ability to repay loans. BOK Financial Corporation and its affiliates undertake no obligation to update, amend or clarify forward-looking statements, whether as a result of new information, future events, or otherwise.

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Exhibit 99.1(b)

BALANCE SHEETS -- UNAUDITED

BOK FINANCIAL CORPORATION

(In thousands)

	Sep. 30, 2022		June 30, 2022
ASSETS
Cash and due from banks	$	804,110	$	1,313,563
Interest-bearing cash and cash equivalents	804,799		723,787
Trading securities	2,194,618		2,859,444
Investment securities, net of allowance	2,572,360		2,637,345
Available for sale securities	10,040,894		10,152,663
Fair value option securities	33,966		37,927
Restricted equity securities	100,356		95,130
Residential mortgage loans held for sale	148,121		182,726
Loans:
Commercial	13,607,686		13,578,697
Commercial real estate	4,473,911		4,106,148
Paycheck protection program	20,233		43,140
Loans to individuals	3,688,627		3,563,163
Total loans	21,790,457		21,291,148
Allowance for loan losses	(241,768)		(241,114)
Loans, net of allowance	21,548,689		21,050,034
Premises and equipment, net	569,379		573,605
Receivables	200,343		176,672
Goodwill	1,044,749		1,044,749
Intangible assets, net	79,833		83,744
Mortgage servicing rights	283,806		270,312
Real estate and other repossessed assets, net	29,676		22,221
Derivative contracts, net	1,693,742		1,992,977
Cash surrender value of bank-owned life insurance	407,722		409,937
Receivable on unsettled securities sales	49,089		60,168
Other assets	1,039,194		1,690,068
TOTAL ASSETS	$	43,645,446	$	45,377,072
LIABILITIES AND EQUITY
Deposits:
Demand	$	14,985,115	$	15,720,296
Interest-bearing transaction	19,000,023		20,544,199
Savings	971,634		984,824
Time	1,459,143		1,369,599
Total deposits	36,415,915		38,618,918
Funds purchased and repurchase agreements	626,952		677,030
Other borrowings	234,933		35,505
Subordinated debentures	131,168		131,223
Accrued interest, taxes and expense	212,342		211,419
Due on unsettled securities purchases	205,388		297,352
Derivative contracts, net	821,275		214,576
Other liabilities	483,165		449,507
TOTAL LIABILITIES	39,131,138		40,635,530
Shareholders' equity:
Capital, surplus and retained earnings	5,414,879		5,339,967
Accumulated other comprehensive loss	(904,945)		(602,628)
TOTAL SHAREHOLDERS' EQUITY	4,509,934		4,737,339
Non-controlling interests	4,374		4,203
TOTAL EQUITY	4,514,308		4,741,542
TOTAL LIABILITIES AND EQUITY	$	43,645,446	$	45,377,072

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AVERAGE BALANCE SHEETS -- UNAUDITED

BOK FINANCIAL CORPORATION

(in thousands)

	Three Months Ended
	Sep. 30, 2022		June 30, 2022		Mar. 31, 2022		Dec. 31, 2021		Sep. 30, 2021
ASSETS
Interest-bearing cash and cash equivalents	$	748,263	$	843,619	$	1,050,409	$	1,208,552	$	682,788
Trading securities	3,178,068		4,166,954		8,537,390		9,260,778		7,617,236
Investment securities, net of allowance	2,593,989		610,983		195,198		213,188		218,117
Available for sale securities	10,306,257		12,258,072		13,092,422		13,247,607		13,446,095
Fair value option securities	36,846		54,832		75,539		46,458		56,307
Restricted equity securities	173,656		167,732		164,484		137,874		245,485
Residential mortgage loans held for sale	132,685		148,183		179,697		163,433		167,620
Loans:
Commercial	13,481,961		13,382,176		12,677,706		12,401,935		12,231,230
Commercial real estate	4,434,650		4,061,129		4,059,148		3,838,336		4,218,190
Paycheck protection program	26,364		90,312		210,110		404,261		792,728
Loans to individuals	3,656,257		3,524,097		3,516,698		3,598,121		3,606,460
Total loans	21,599,232		21,057,714		20,463,662		20,242,653		20,848,608
Allowance for loan losses	(241,136)		(246,064)		(254,191)		(271,794)		(306,125)
Loans, net of allowance	21,358,096		20,811,650		20,209,471		19,970,859		20,542,483
Total earning assets	38,527,860		39,062,025		43,504,610		44,248,749		42,976,131
Cash and due from banks	821,801		822,599		790,440		783,670		766,688
Derivative contracts, net	2,019,905		3,051,429		2,126,282		1,441,869		1,501,736
Cash surrender value of bank-owned life insurance	410,667		408,489		406,379		404,149		401,926
Receivable on unsettled securities sales	219,113		457,165		375,616		585,901		632,539
Other assets	3,119,856		3,486,691		3,357,747		3,139,718		3,220,129
TOTAL ASSETS	$	45,119,202	$	47,288,398	$	50,561,074	$	50,604,056	$	49,499,149
LIABILITIES AND EQUITY
Deposits:
Demand	$	15,105,305	$	15,202,597	$	15,062,282	$	14,818,841	$	13,670,656
Interest-bearing transaction	19,556,806		21,037,294		22,763,479		22,326,401		21,435,736
Savings	978,596		981,493		947,407		909,131		888,011
Time	1,409,069		1,373,036		1,589,039		1,747,715		1,839,983
Total deposits	37,049,776		38,594,420		40,362,207		39,802,088		37,834,386
Funds purchased and repurchase agreements	800,759		1,224,134		2,004,466		2,893,128		1,448,800
Other borrowings	1,528,887		1,301,358		1,148,440		880,837		2,546,083
Subordinated debentures	131,199		131,219		131,228		131,224		214,654
Derivative contracts, net	105,221		535,574		682,435		320,757		434,334
Due on unsettled securities purchases	331,428		380,332		519,097		629,642		957,538
Other liabilities	396,510		389,031		565,350		578,091		619,913
TOTAL LIABILITIES	40,343,780		42,556,068		45,413,223		45,235,767		44,055,708
Total equity	4,775,422		4,732,330		5,147,851		5,368,289		5,443,441
TOTAL LIABILITIES AND EQUITY	$	45,119,202	$	47,288,398	$	50,561,074	$	50,604,056	$	49,499,149

11

STATEMENTS OF EARNINGS -- UNAUDITED

BOK FINANCIAL CORPORATION

(in thousands, except per share data)

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2022		2021		2022		2021
Interest revenue	$	363,150	$	293,463	$	940,496	$	887,595
Interest expense	46,825		13,236		81,742		46,639
Net interest revenue	316,325		280,227		858,754		840,956
Provision for credit losses	15,000		(23,000)		15,000		(83,000)
Net interest revenue after provision for credit losses	301,325		303,227		843,754		923,956
Other operating revenue:
Brokerage and trading revenue	61,006		47,930		77,970		98,120
Transaction card revenue	25,974		24,632		77,130		71,985
Fiduciary and asset management revenue	50,190		45,248		146,427		131,402
Deposit service charges and fees	28,703		27,429		84,207		77,499
Mortgage banking revenue	11,282		26,286		39,300		84,618
Other revenue	15,479		18,896		38,608		58,364
Total fees and commissions	192,634		190,421		463,642		521,988
Other gains (losses), net	979		31,091		(8,304)		57,661
Loss on derivatives, net	(17,009)		(5,760)		(77,559)		(14,590)
Loss on fair value option securities, net	(4,368)		(120)		(17,790)		(3,657)
Change in fair value of mortgage servicing rights	16,570		12,945		83,165		33,778
Gain on available for sale securities, net	892		1,255		3,017		3,152
Total other operating revenue	189,698		229,832		446,171		598,332
Other operating expense:
Personnel	170,348		175,863		484,499		520,908
Business promotion	6,127		4,939		18,965		9,837
Charitable contributions to BOKF Foundation	—		—		—		4,000
Professional fees and services	14,089		12,436		37,977		36,777
Net occupancy and equipment	29,296		28,395		87,640		81,690
Insurance	4,306		3,712		13,317		11,992
Data processing and communications	41,743		38,371		122,859		112,256
Printing, postage and supplies	4,349		3,558		11,967		11,283
Amortization of intangible assets	3,943		4,488		11,956		13,873
Mortgage banking costs	9,504		8,962		26,818		34,031
Other expense	11,046		10,553		30,026		41,566
Total other operating expense	294,751		291,277		846,024		878,213
Net income before taxes	196,272		241,782		443,901		644,075
Federal and state income taxes	39,681		54,061		92,000		144,939
Net income	156,591		187,721		351,901		499,136
Net income (loss) attributable to non-controlling interests	81		(601)		57		(1,667)
Net income attributable to BOK Financial Corporation shareholders	$	156,510	$	188,322	$	351,844	$	500,803
Average shares outstanding:
Basic	67,003,199		68,359,125		67,409,789		68,768,044
Diluted	67,004,623		68,360,871		67,411,222		68,770,663
Net income per share:
Basic	$	2.32	$	2.74	$	5.18	$	7.23
Diluted	$	2.32	$	2.74	$	5.18	$	7.23

12

FINANCIAL HIGHLIGHTS -- UNAUDITED

BOK FINANCIAL CORPORATION

(in thousands, except ratio and share data)

	Three Months Ended
	Sep. 30, 2022			June 30, 2022			Mar. 31, 2022			Dec. 31, 2021			Sep. 30, 2021
Capital:
Period-end shareholders' equity	$	4,509,934		$	4,737,339		$	4,849,582		$	5,363,732		$	5,388,973
Risk weighted assets	$	36,866,994		$	36,787,092		$	37,160,258		$	34,575,277		$	33,916,456
Risk-based capital ratios:
Common equity tier 1	11.80		%	11.61		%	11.30		%	12.24		%	12.26		%
Tier 1	11.82		%	11.63		%	11.31		%	12.25		%	12.29		%
Total capital	12.81		%	12.59		%	12.25		%	13.29		%	13.38		%
Leverage ratio	9.76		%	9.12		%	8.47		%	8.55		%	8.77		%
Tangible common equity ratio1	7.96		%	8.16		%	8.13		%	8.61		%	9.28		%
Common stock:
Book value per share	$	67.06		$	69.87		$	71.21		$	78.34		$	78.56
Tangible book value per share	$	50.34		$	53.22		$	54.58		$	61.74		$	61.93
Market value per share:
High	$	95.51		$	94.76		$	119.59		$	110.21		$	92.97
Low	$	69.82		$	74.03		$	93.76		$	89.01		$	77.20
Cash dividends paid	$	35,661		$	35,892		$	36,093		$	36,256		$	35,725
Dividend payout ratio	22.79		%	27.02		%	57.76		%	30.90		%	18.97		%
Shares outstanding, net	67,254,383			67,806,005			68,104,043			68,467,772			68,596,764
Stock buy-back program:
Shares repurchased	548,034			294,084			475,877			128,522			478,141
Amount	$	49,980		$	24,404		$	48,074		$	13,426		$	40,644
Average price per share	$	91.20		$	82.98		$	101.02		$	104.46		$	85.00
Performance ratios (quarter annualized):
Return on average assets	1.38		%	1.13		%	0.50		%	0.92		%	1.51		%
Return on average equity	13.01		%	11.27		%	4.93		%	8.68		%	13.78		%
Net interest margin	3.24		%	2.76		%	2.44		%	2.52		%	2.66		%
Efficiency ratio	57.35		%	60.65		%	75.07		%	70.14		%	61.23		%
Reconciliation of non-GAAP measures:
1 Tangible common equity ratio:
Total shareholders' equity	$	4,509,934		$	4,737,339		$	4,849,582		$	5,363,732		$	5,388,973
Less: Goodwill and intangible assets, net	1,124,582			1,128,493			1,132,510			1,136,527			1,140,935
Tangible common equity	$	3,385,352		$	3,608,846		$	3,717,072		$	4,227,205		$	4,248,038
Total assets	$	43,645,446		$	45,377,072		$	46,826,507		$	50,249,431		$	46,923,409
Less: Goodwill and intangible assets, net	1,124,582			1,128,493			1,132,510			1,136,527			1,140,935
Tangible assets	$	42,520,864		$	44,248,579		$	45,693,997		$	49,112,904		$	45,782,474
Tangible common equity ratio	7.96		%	8.16		%	8.13		%	8.61		%	9.28		%

13

	Three Months Ended
	Sep. 30, 2022			June 30, 2022			Mar. 31, 2022			Dec. 31, 2021			Sep. 30, 2021
Pre-provision net revenue:
Net income before taxes	$	196,272		$	168,980		$	78,649		$	152,025		$	241,782
Provision for expected credit losses	15,000			—			—			(17,000)			(23,000)
Net income (loss) attributable to non-controlling interests	81			12			(36)			(129)			(601)
Pre-provision net revenue	$	211,191		$	168,968		$	78,685		$	135,154		$	219,383
Other data:
Tax equivalent interest	$	2,163		$	2,040		$	1,973		$	2,104		$	2,217
Net unrealized gain (loss) on available for sale securities	$	(935,788)		$	(522,812)		$	(546,598)		$	93,381		$	221,487
Mortgage banking:
Mortgage production revenue	$	(2,406)		$	(504)		$	5,055		$	10,018		$	15,403
Mortgage loans funded for sale	$	260,210		$	360,237		$	418,866		$	568,507		$	652,336
Add: current period-end outstanding commitments	75,779			106,004			160,260			171,412			239,066
Less: prior period end outstanding commitments	106,004			160,260			171,412			239,066			276,154
Total mortgage production volume	$	229,985		$	305,981		$	407,714		$	500,853		$	615,248
Mortgage loan refinances to mortgage loans funded for sale	10		%	19		%	45		%	51		%	48		%
Realized margin on funded mortgage loans	(0.41)		%	0.88		%	1.64		%	2.34		%	2.48		%
Production revenue as a percentage of production volume	(1.05)		%	(0.16)		%	1.24		%	2.00		%	2.50		%
Mortgage servicing revenue	$	13,688		$	11,872		$	11,595		$	11,260		$	10,883
Average outstanding principal balance of mortgage loans serviced for others	19,070,221			17,336,596			16,155,329			15,930,480			14,899,306
Average mortgage servicing revenue rates	0.28		%	0.27		%	0.29		%	0.28		%	0.29		%
Gain (loss) on mortgage servicing rights, net of economic hedge:
Gain (loss) on mortgage hedge derivative contracts, net	$	(17,027)		$	(13,639)		$	(46,694)		$	(4,862)		$	(5,829)
Gain (loss) on fair value option securities, net	(4,368)			(2,221)			(11,201)			1,418			(120)
Loss on economic hedge of mortgage servicing rights	(21,395)			(15,860)			(57,895)			(3,444)			(5,949)
Gain on changes in fair value of mortgage servicing rights	16,570			17,485			49,110			7,859			12,945
Gain (loss) on changes in fair value of mortgage servicing rights, net of economic hedges, included in other operating revenue	(4,825)			1,625			(8,785)			4,415			6,996
Net interest revenue on fair value option securities2	29			275			383			259			286
Total economic benefit (cost) of changes in the fair value of mortgage servicing rights, net of economic hedges	$	(4,796)		$	1,900		$	(8,402)		$	4,674		$	7,282

2     Actual interest earned on fair value option securities less internal transfer-priced cost of funds.

14

QUARTERLY EARNINGS TREND -- UNAUDITED

BOK FINANCIAL CORPORATION

(in thousands, except ratio and per share data)

	Three Months Ended
	Sep. 30, 2022		June 30, 2022		Mar. 31, 2022		Dec. 31, 2021		Sep. 30, 2021
Interest revenue	$	363,150	$	294,247	$	283,099	$	292,334	$	293,463
Interest expense	46,825		20,229		14,688		15,257		13,236
Net interest revenue	316,325		274,018		268,411		277,077		280,227
Provision for credit losses	15,000		—		—		(17,000)		(23,000)
Net interest revenue after provision for credit losses	301,325		274,018		268,411		294,077		303,227
Other operating revenue:
Brokerage and trading revenue	61,006		44,043		(27,079)		14,869		47,930
Transaction card revenue	25,974		26,940		24,216		24,998		24,632
Fiduciary and asset management revenue	50,190		49,838		46,399		46,872		45,248
Deposit service charges and fees	28,703		28,500		27,004		26,718		27,429
Mortgage banking revenue	11,282		11,368		16,650		21,278		26,286
Other revenue	15,479		12,684		10,445		11,586		18,896
Total fees and commissions	192,634		173,373		97,635		146,321		190,421
Other gains (losses), net	979		(7,639)		(1,644)		6,081		31,091
Loss on derivatives, net	(17,009)		(13,569)		(46,981)		(4,788)		(5,760)
Gain (loss) on fair value option securities, net	(4,368)		(2,221)		(11,201)		1,418		(120)
Change in fair value of mortgage servicing rights	16,570		17,485		49,110		7,859		12,945
Gain on available for sale securities, net	892		1,188		937		552		1,255
Total other operating revenue	189,698		168,617		87,856		157,443		229,832
Other operating expense:
Personnel	170,348		154,923		159,228		174,474		175,863
Business promotion	6,127		6,325		6,513		6,452		4,939
Charitable contributions to BOKF Foundation	—		—		—		5,000		—
Professional fees and services	14,089		12,475		11,413		14,129		12,436
Net occupancy and equipment	29,296		27,489		30,855		26,897		28,395
Insurance	4,306		4,728		4,283		3,889		3,712
Data processing and communications	41,743		41,280		39,836		39,358		38,371
Printing, postage and supplies	4,349		3,929		3,689		2,935		3,558
Amortization of intangible assets	3,943		4,049		3,964		4,438		4,488
Mortgage banking costs	9,504		9,437		7,877		8,667		8,962
Other expense	11,046		9,020		9,960		13,256		10,553
Total other operating expense	294,751		273,655		277,618		299,495		291,277
Net income before taxes	196,272		168,980		78,649		152,025		241,782
Federal and state income taxes	39,681		36,122		16,197		34,836		54,061
Net income	156,591		132,858		62,452		117,189		187,721
Net income (loss) attributable to non-controlling interests	81		12		(36)		(129)		(601)
Net income attributable to BOK Financial Corporation shareholders	$	156,510	$	132,846	$	62,488	$	117,318	$	188,322
Average shares outstanding:
Basic	67,003,199		67,453,748		67,812,400		68,069,160		68,359,125
Diluted	67,004,623		67,455,172		67,813,851		68,070,910		68,360,871
Net income per share:
Basic	$	2.32	$	1.96	$	0.91	$	1.71	$	2.74
Diluted	$	2.32	$	1.96	$	0.91	$	1.71	$	2.74

15

LOANS TREND -- UNAUDITED

BOK FINANCIAL CORPORATION

(In thousands)

	Sep. 30, 2022		June 30, 2022		Mar. 31, 2022		Dec. 31, 2021		Sep. 30, 2021
Commercial:
Healthcare	$	3,826,623	$	3,696,963	$	3,441,732	$	3,414,940	$	3,347,641
Energy	3,371,588		3,393,072		3,197,667		3,006,884		2,814,059
Services	3,280,925		3,421,493		3,351,495		3,367,193		3,323,422
General business	3,128,550		3,067,169		2,892,295		2,717,448		2,690,018
Total commercial	13,607,686		13,578,697		12,883,189		12,506,465		12,175,140
Commercial real estate:
Multifamily	1,126,700		878,565		867,288		786,404		875,586
Industrial	1,103,905		953,626		911,928		766,125		890,316
Office	1,086,615		1,100,115		1,097,516		1,040,963		1,030,755
Retail	635,021		637,304		667,561		679,917		766,402
Residential construction and land development	91,690		111,575		120,506		120,016		118,416
Other commercial real estate	429,980		424,963		436,157		437,900		435,417
Total commercial real estate	4,473,911		4,106,148		4,100,956		3,831,325		4,116,892
Paycheck protection program	20,233		43,140		137,365		276,341		536,052
Loans to individuals:
Residential mortgage	1,851,836		1,784,729		1,723,506		1,722,170		1,747,243
Residential mortgages guaranteed by U.S. government agencies	262,466		293,838		322,581		354,173		376,986
Personal	1,574,325		1,484,596		1,506,832		1,515,206		1,395,623
Total loans to individuals	3,688,627		3,563,163		3,552,919		3,591,549		3,519,852
Total	$	21,790,457	$	21,291,148	$	20,674,429	$	20,205,680	$	20,347,936

16

LOANS MANAGED BY PRINCIPAL MARKET AREA -- UNAUDITED

BOK FINANCIAL CORPORATION

(in thousands)

	Sep. 30, 2022		June 30, 2022		Mar. 31, 2022		Dec. 31, 2021		Sep. 30, 2021
Texas:
Commercial	$	6,632,610	$	6,631,658	$	6,254,883	$	6,068,700	$	5,815,562
Commercial real estate	1,448,590		1,339,452		1,345,105		1,253,439		1,383,871
Paycheck protection program	12,280		14,040		31,242		81,654		115,623
Loans to individuals	970,459		934,856		957,320		942,982		901,121
Total Texas	9,063,939		8,920,006		8,588,550		8,346,775		8,216,177
Oklahoma:
Commercial	3,104,037		3,125,764		2,883,663		2,633,014		2,590,887
Commercial real estate	608,856		576,458		552,310		546,021		552,184
Paycheck protection program	4,571		13,329		52,867		69,817		192,474
Loans to individuals	2,054,362		1,982,247		1,977,886		2,024,404		2,014,099
Total Oklahoma	5,771,826		5,697,798		5,466,726		5,273,256		5,349,644
Colorado:
Commercial	2,115,883		2,074,455		1,977,773		1,936,149		1,874,613
Commercial real estate	565,057		473,231		480,740		470,937		526,653
Paycheck protection program	1,298		8,233		28,584		82,781		140,470
Loans to individuals	237,981		234,105		236,125		256,533		249,298
Total Colorado	2,920,219		2,790,024		2,723,222		2,746,400		2,791,034
Arizona:
Commercial	1,101,917		1,080,228		1,074,551		1,130,798		1,194,801
Commercial real estate	850,319		766,767		719,970		674,309		734,174
Paycheck protection program	1,083		5,173		11,644		21,594		42,815
Loans to individuals	225,981		212,870		190,746		186,528		182,506
Total Arizona	2,179,300		2,065,038		1,996,911		2,013,229		2,154,296
Kansas/Missouri:
Commercial	307,446		338,337		334,371		338,697		336,414
Commercial real estate	466,955		458,157		436,740		382,761		408,001
Paycheck protection program	10		573		2,595		4,718		6,920
Loans to individuals	125,039		125,584		121,247		110,889		100,920
Total Kansas/Missouri	899,450		922,651		894,953		837,065		852,255
New Mexico:
Commercial	257,763		252,033		262,533		306,964		287,695
Commercial real estate	426,367		431,606		504,632		442,128		437,302
Paycheck protection program	991		1,792		9,713		13,510		31,444
Loans to individuals	68,095		67,026		63,299		63,930		66,651
Total New Mexico	753,216		752,457		840,177		826,532		823,092
Arkansas:
Commercial	88,030		76,222		95,415		92,143		75,168
Commercial real estate	107,767		60,477		61,459		61,730		74,707
Paycheck protection program	—		—		720		2,267		6,306
Loans to individuals	6,710		6,475		6,296		6,283		5,257
Total Arkansas	202,507		143,174		163,890		162,423		161,438
TOTAL BOK FINANCIAL	$	21,790,457	$	21,291,148	$	20,674,429	$	20,205,680	$	20,347,936

Loans attributed to a principal market may not always represent the location of the borrower or the collateral.

17

DEPOSITS BY PRINCIPAL MARKET AREA -- UNAUDITED

BOK FINANCIAL CORPORATION

(in thousands)

	Sep. 30, 2022		June 30, 2022		Mar. 31, 2022		Dec. 31, 2021		Sep. 30, 2021
Oklahoma:
Demand	$	5,143,405	$	5,422,593	$	5,205,806	$	5,433,405	$	5,080,162
Interest-bearing:
Transaction	9,619,419		10,240,378		11,410,709		12,689,367		11,692,679
Savings	558,256		561,413		558,634		521,439		510,906
Time	776,306		678,127		817,744		978,822		1,039,866
Total interest-bearing	10,953,981		11,479,918		12,787,087		14,189,628		13,243,451
Total Oklahoma	16,097,386		16,902,511		17,992,893		19,623,033		18,323,613
Texas:
Demand	4,609,255		4,670,535		4,552,001		4,552,983		3,987,503
Interest-bearing:
Transaction	4,781,920		5,344,326		4,963,118		5,345,461		4,985,465
Savings	179,049		183,708		182,536		178,458		165,043
Time	343,015		333,038		329,931		337,559		337,389
Total interest-bearing	5,303,984		5,861,072		5,475,585		5,861,478		5,487,897
Total Texas	9,913,239		10,531,607		10,027,586		10,414,461		9,475,400
Colorado:
Demand	2,510,179		2,799,798		2,673,352		2,526,855		2,158,596
Interest-bearing:
Transaction	2,221,796		2,277,563		2,387,304		2,334,371		2,337,354
Savings	80,542		82,976		81,762		78,636		79,873
Time	151,064		160,795		165,401		174,351		184,002
Total interest-bearing	2,453,402		2,521,334		2,634,467		2,587,358		2,601,229
Total Colorado	4,963,581		5,321,132		5,307,819		5,114,213		4,759,825
New Mexico:
Demand	1,296,410		1,347,600		1,271,264		1,196,057		1,222,895
Interest-bearing:
Transaction	717,492		845,442		888,257		858,394		837,630
Savings	113,056		115,660		115,457		107,963		107,615
Time	142,856		148,532		156,140		163,871		168,879
Total interest-bearing	973,404		1,109,634		1,159,854		1,130,228		1,114,124
Total New Mexico	2,269,814		2,457,234		2,431,118		2,326,285		2,337,019
Arizona:
Demand	903,296		901,543		947,775		934,282		1,110,884
Interest-bearing:
Transaction	788,142		792,269		810,896		834,491		784,614
Savings	18,258		17,999		18,122		16,182		16,468
Time	26,704		28,774		27,259		31,274		30,862
Total interest-bearing	833,104		839,042		856,277		881,947		831,944
Total Arizona	1,736,400		1,740,585		1,804,052		1,816,229		1,942,828

18

	Sep. 30, 2022		June 30, 2022		Mar. 31, 2022		Dec. 31, 2021		Sep. 30, 2021
Kansas/Missouri:
Demand	479,459		537,143		553,345		658,342		488,595
Interest-bearing:
Transaction	747,981		913,921		1,107,525		1,086,946		965,757
Savings	19,375		19,943		19,589		18,844		17,303
Time	13,258		13,962		11,527		12,255		13,040
Total interest-bearing	780,614		947,826		1,138,641		1,118,045		996,100
Total Kansas/Missouri	1,260,073		1,484,969		1,691,986		1,776,387		1,484,695
Arkansas:
Demand	43,111		41,084		38,798		42,499		41,594
Interest-bearing:
Transaction	123,273		130,300		122,020		119,543		149,611
Savings	3,098		3,125		3,265		3,213		3,289
Time	5,940		6,371		6,414		6,196		6,677
Total interest-bearing	132,311		139,796		131,699		128,952		159,577
Total Arkansas	175,422		180,880		170,497		171,451		201,171
TOTAL BOK FINANCIAL	$	36,415,915	$	38,618,918	$	39,425,951	$	41,242,059	$	38,524,551

19

NET INTEREST MARGIN TREND -- UNAUDITED

BOK FINANCIAL CORPORATION

	Three Months Ended
	Sep. 30, 2022		June 30, 2022		Mar. 31, 2022		Dec. 31, 2021		Sep. 30, 2021
TAX-EQUIVALENT ASSETS YIELDS
Interest-bearing cash and cash equivalents	1.87	%	0.83	%	0.18	%	0.16	%	0.14	%
Trading securities	2.72	%	2.00	%	1.71	%	1.89	%	2.04	%
Investment securities, net of allowance	1.42	%	2.35	%	5.07	%	4.99	%	5.02	%
Available for sale securities	2.21	%	1.84	%	1.77	%	1.72	%	1.80	%
Fair value option securities	2.98	%	2.92	%	2.81	%	2.71	%	2.62	%
Restricted equity securities	6.23	%	3.30	%	2.69	%	2.98	%	2.55	%
Residential mortgage loans held for sale	5.05	%	4.22	%	3.11	%	3.06	%	3.06	%
Loans	4.89	%	3.92	%	3.57	%	3.70	%	3.68	%
Allowance for loan losses
Loans, net of allowance	4.94	%	3.96	%	3.61	%	3.75	%	3.73	%
Total tax-equivalent yield on earning assets	3.71	%	2.96	%	2.58	%	2.66	%	2.78	%
COST OF INTEREST-BEARING LIABILITIES
Interest-bearing deposits:
Interest-bearing transaction	0.63	%	0.22	%	0.10	%	0.09	%	0.09	%
Savings	0.05	%	0.03	%	0.03	%	0.04	%	0.04	%
Time	0.93	%	0.68	%	0.56	%	0.53	%	0.55	%
Total interest-bearing deposits	0.63	%	0.24	%	0.12	%	0.12	%	0.13	%
Funds purchased and repurchase agreements	0.72	%	0.53	%	0.95	%	0.73	%	0.20	%
Other borrowings	2.33	%	1.01	%	0.38	%	0.49	%	0.37	%
Subordinated debt	5.07	%	4.50	%	4.02	%	4.02	%	4.63	%
Total cost of interest-bearing liabilities	0.76	%	0.31	%	0.21	%	0.21	%	0.19	%
Tax-equivalent net interest revenue spread	2.95	%	2.65	%	2.37	%	2.45	%	2.59	%
Effect of noninterest-bearing funding sources and other	0.29	%	0.11	%	0.07	%	0.07	%	0.07	%
Tax-equivalent net interest margin	3.24	%	2.76	%	2.44	%	2.52	%	2.66	%

Yield calculations are shown on a tax equivalent basis at the statutory federal and state rates for the periods presented. The yield calculations exclude security trades that have been recorded on trade date with no corresponding interest income and the unrealized gains and losses. The yield calculation also includes average loan balances for which the accrual of interest has been discontinued and are net of unearned income. Yield/rate calculations are generally based on the conventions that determine how interest income and expense is accrued.

20

CREDIT QUALITY INDICATORS -- UNAUDITED

BOK FINANCIAL CORPORATION

(in thousands, except ratios)

	Three Months Ended
	Sep. 30, 2022		June 30, 2022		Mar. 31, 2022		Dec. 31, 2021		Sep. 30, 2021
Nonperforming assets:
Nonaccruing loans:
Commercial:
Healthcare	$	41,438	$	14,886	$	15,076	$	15,762	$	509
Services	27,315		15,259		16,535		17,170		25,714
Energy	4,164		20,924		24,976		31,091		45,500
General business	2,753		3,539		3,750		10,081		8,951
Total commercial	75,670		54,608		60,337		74,104		80,674
Commercial real estate	7,971		10,939		15,989		14,262		21,223
Loans to individuals:
Permanent mortgage	30,066		30,460		30,757		31,574		30,674
Permanent mortgage guaranteed by U.S. government agencies	16,957		18,000		16,992		13,861		9,188
Personal	136		132		171		258		188
Total loans to individuals	47,159		48,592		47,920		45,693		40,050
Total nonaccruing loans	$	130,800	$	114,139	$	124,246	$	134,059	$	141,947
Accruing renegotiated loans guaranteed by U.S. government agencies	176,022		196,420		204,121		210,618		178,554
Real estate and other repossessed assets	29,676		22,221		24,492		24,589		28,770
Total nonperforming assets	$	336,498	$	332,780	$	352,859	$	369,266	$	349,271
Total nonperforming assets excluding those guaranteed by U.S. government agencies	$	143,519	$	118,360	$	131,746	$	144,787	$	161,529
Accruing loans 90 days past due1	$	120	$	3	$	307	$	313	$	223
Gross charge-offs	$	1,766	$	1,368	$	7,805	$	6,558	$	9,584
Recoveries	(1,309)		(2,167)		(1,824)		(7,272)		(1,769)
Net charge-offs (recoveries)	$	457	$	(799)	$	5,981	$	(714)	$	7,815
Provision for loan losses	$	1,111	$	(6,158)	$	(3,967)	$	(20,973)	$	(27,395)
Provision for credit losses from off-balance sheet unfunded loan commitments	14,060		6,005		3,268		3,738		4,952
Provision for expected credit losses from mortgage banking activities	(66)		69		621		150		(534)
Provision for credit losses related to held-to maturity (investment) securities portfolio	(105)		84		78		85		(23)
Total provision for credit losses	$	15,000	$	—	$	—	$	(17,000)	$	(23,000)

21

	Three Months Ended
	Sep. 30, 2022		June 30, 2022		Mar. 31, 2022		Dec. 31, 2021		Sep. 30, 2021
Allowance for loan losses to period end loans	1.11	%	1.13	%	1.19	%	1.27	%	1.36	%
Combined allowance for loan losses and accrual for off-balance sheet credit risk from unfunded loan commitments to period end loans	1.37	%	1.33	%	1.37	%	1.43	%	1.50	%
Nonperforming assets to period end loans and repossessed assets	1.54	%	1.56	%	1.70	%	1.83	%	1.71	%
Net charge-offs (annualized) to average loans	0.01	%	(0.02)	%	0.12	%	(0.01)	%	0.15	%
Allowance for loan losses to nonaccruing loans1	212.37	%	250.80	%	229.80	%	213.33	%	208.41	%
Combined allowance for loan losses and accrual for off-balance sheet credit risk from unfunded loan commitments to nonaccruing loans1	261.83	%	294.74	%	263.60	%	240.77	%	230.43	%

1Excludes residential mortgage loans guaranteed by agencies of the U.S. government.

22

SEGMENTS -- UNAUDITED

BOK FINANCIAL CORPORATION

(in thousands, except ratios)

	Three Months Ended						3Q22 vs 2Q22				3Q22 vs 3Q21
	Sep. 30, 2022		June 30, 2022		Sep. 30, 2021		$ change		% change		$ change		% change
Commercial Banking
Net interest revenue	$	206,904	$	166,542	$	134,104	$	40,362	24.2	%	$	72,800	54.3	%
Fees and commissions revenue	58,147		59,881		56,452		(1,734)		(2.9)	%	1,695		3.0	%
Combined net interest and fee revenue	265,051		226,423		190,556		38,628		17.1	%	74,495		39.1	%
Other operating expense	75,872		70,009		68,301		5,863		8.4	%	7,571		11.1	%
Corporate expense allocations	16,451		16,634		11,769		(183)		(1.1)	%	4,682		39.8	%
Net income	132,941		104,813		102,694		28,128		26.8	%	30,247		29.5	%
Average assets	28,890,429		29,269,712		28,474,132		(379,283)		(1.3)	%	416,297		1.5	%
Average loans	17,904,779		17,336,841		16,588,875		567,938		3.3	%	1,315,904		7.9	%
Average deposits	17,966,661		18,933,766		17,881,673		(967,105)		(5.1)	%	84,988		0.5	%
Consumer Banking
Net interest revenue	$	43,951	$	33,786	$	27,222	$	10,165	30.1	%	$	16,729	61.5	%
Fees and commissions revenue	30,230		30,101		44,405		129		0.4	%	(14,175)		(31.9)	%
Combined net interest and fee revenue	74,181		63,887		71,627		10,294		16.1	%	2,554		3.6	%
Other operating expense	53,236		52,660		49,483		576		1.1	%	3,753		7.6	%
Corporate expense allocations	10,792		10,120		11,516		672		6.6	%	(724)		(6.3)	%
Net income	2,970		1,239		12,432		1,731		139.7	%	(9,462)		(76.1)	%
Average assets	10,233,401		10,338,191		10,083,593		(104,790)		(1.0)	%	149,808		1.5	%
Average loans	1,686,498		1,669,830		1,763,705		16,668		1.0	%	(77,207)		(4.4)	%
Average deposits	8,812,884		8,876,469		8,516,942		(63,585)		(0.7)	%	295,942		3.5	%
Wealth Management
Net interest revenue	$	33,584	$	37,747	$	55,196	$	(4,163)	(11.0)	%	$	(21,612)	(39.2)	%
Fees and commissions revenue	113,113		86,771		97,966		26,342		30.4	%	15,147		15.5	%
Combined net interest and fee revenue	146,697		124,518		153,162		22,179		17.8	%	(6,465)		(4.2)	%
Other operating expense	79,151		76,393		87,498		2,758		3.6	%	(8,347)		(9.5)	%
Corporate expense allocations	12,934		12,503		10,110		431		3.4	%	2,824		27.9	%
Net income	41,808		27,287		41,339		14,521		53.2	%	469		1.1	%
Average assets	13,818,299		16,902,721		19,109,704		(3,084,422)		(18.2)	%	(5,291,405)		(27.7)	%
Average loans	2,163,975		2,157,771		1,971,380		6,204		0.3	%	192,595		9.8	%
Average deposits	7,999,074		8,482,785		9,120,446		(483,711)		(5.7)	%	(1,121,372)		(12.3)	%
Fiduciary assets	54,714,705		55,972,584		60,497,576		(1,257,879)		(2.2)	%	(5,782,871)		(9.6)	%
Assets under management or administration	95,401,638		95,981,289		98,842,789		(579,651)		(0.6)	%	(3,441,151)		(3.5)	%

23