Parent Company Only Financial Statements Parent Company Only Financial Statements

12 Months Ended

Dec. 31, 2022

Parent Company Only Financial Statements

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

Balance Sheets

(In thousands)


	December 31,
	2022		2021
Assets
Cash and cash equivalents	$	165,395	$	230,647

Loan to bank subsidiary	65,169		65,187
Investment in bank subsidiary	4,351,280		4,951,405
Investment in non-bank subsidiaries	217,011		228,447
Other assets	18,302		22,011
Total assets	$	4,817,157	$	5,497,697

Liabilities and Shareholders’ Equity
Liabilities:
Other liabilities	$	3,303	$	2,739
Subordinated debentures	131,205		131,226
Total liabilities	134,508		133,965
Shareholders’ equity:
Common stock	5		5
Capital surplus	1,390,395		1,378,794
Retained earnings	4,824,164		4,447,691
Treasury stock	(694,960)		(535,129)
Accumulated other comprehensive income (loss)	(836,955)		72,371
Total shareholders’ equity	4,682,649		5,363,732
Total liabilities and shareholders’ equity	$	4,817,157	$	5,497,697

Statements of Earnings

(In thousands)


	Year Ended December 31,
	2022		2021		2020
Dividends, interest and fees received from bank subsidiary	$	228,689	$	483,868	$	179,140
Dividends, interest and fees received from non-bank subsidiaries	43,281		8,030		25,050
Other revenue	1,172		767		907

Total revenue	273,142		492,665		205,097
Interest expense	6,490		10,535		13,944
Other operating expense	3,005		2,914		2,697
Total expense	9,495		13,449		16,641
Net income before taxes, other losses, net, and equity in undistributed income of subsidiaries	263,647		479,216		188,456
Other gains (losses), net	(4,279)		(3,415)		1,465
Net income before taxes and equity in undistributed income of subsidiaries	259,368		475,801		189,921
Federal and state income taxes	(1,776)		(4,202)		(4,502)
Net income before equity in undistributed income of subsidiaries	261,144		480,003		194,423
Equity in undistributed income of bank subsidiaries	300,330		126,380		276,217
Equity in undistributed income of non-bank subsidiaries	(41,201)		11,738		(35,610)
Net income attributable to BOK Financial Corp. shareholders	$	520,273	$	618,121	$	435,030

Statements of Cash Flows

(In thousands)


	Year Ended December 31,
	2022		2021		2020
Cash Flows From Operating Activities:
Net income	$	520,273	$	618,121	$	435,030
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed income of bank subsidiaries	(300,330)		(126,380)		(276,217)
Equity in undistributed income of non-bank subsidiaries	41,201		(11,738)		35,610
Other losses (gains), net	4,279		3,415		(1,465)
Change in other assets	1,317		1,160		15,225
Change in other liabilities	543		389		850
Net cash provided by operating activities	267,283		484,967		209,033
Cash Flows From Investing Activities:
Investment in subsidiaries	(31,552)		(25,665)		(14,807)
Dissolution of subsidiaries	2,611		4,457		—

Net cash used in investing activities	(28,941)		(21,208)		(14,807)
Cash Flows From Financing Activities:
Repayment of subordinated debentures	—		(150,000)		—
Issuance of common and treasury stock, net	(4,907)		(4,874)		(4,933)
Dividends paid	(143,800)		(144,105)		(144,437)
Repurchase of common stock	(154,887)		(117,938)		(75,830)
Net cash used in financing activities	(303,594)		(416,917)		(225,200)
Net increase (decrease) in cash and cash equivalents	(65,252)		46,842		(30,974)
Cash and cash equivalents at beginning of period	230,647		183,805		214,779
Cash and cash equivalents at end of period	$	165,395	$	230,647	$	183,805
Cash paid for interest	$	6,203	$	10,559	$	14,064