Shareholders' Equity

6 Months Ended

Jun. 30, 2011

Shareholders' Equity [Abstract]

Shareholders' Equity

(8) Shareholders' Equity

On July 26, 2011, the Board of Directors of BOK Financial approved a $0.275 per share quarterly common stock dividend.  The quarterly dividend will be payable on or about August 26, 2011 to shareholders of record as of August 12, 2011.

Dividends declared during the three and six month periods ended June 30, 2011 were $0.275 per share and $0.525 per share, respectively.    Dividends declared during the three and six months ended June 30, 2010 were $0.25 per share and $0.49 per share, respectively.

Accumulated Other Comprehensive Income (Loss)

Accumulated other comprehensive income (loss) (“AOCI”) includes unrealized gains and losses on available for sale securities and accumulated gains or losses on effective cash flow hedges, including hedges of anticipated transactions.  Gains and losses in AOCI are net of deferred income taxes.  Accumulated losses on the rate lock hedge of the 2005 subordinated debenture issuance will be reclassified into income over the ten-year life of the debt.  Unrealized losses on employee benefit plans will be reclassified into income as pension plan costs are recognized over the remaining service period of plan participants.  A rollforward of the components of accumulated other comprehensive income (loss) is includes as follows (in thousands):

	Unrealized			Non-Credit			Accumulated			Unrealized
	Gain (Loss)			Related			(Loss) on			(Loss)
	On Available			Unrealized			Effective			On
	For Sale			Losses on			Cash Flow			Employee
	Securities			OTTI Securities1			Hedges			Benefit Plans			Total
Balance at December 31, 2009	$	59,772		$	(53,000	)	$	(1,039	)	$	(16,473	)	$	(10,740	)
Net change in unrealized gains (losses) on securities		195,882			12,006			–			–			207,888
Unrealized loss on newly identified other-than-temporary securities		20,667			(20,667	)		–			–			–
Credit losses recognized in earnings		–			6,871			–			–			6,871
Tax benefit (expense) on unrealized gains (losses)		(83,845	)		945			–			(145	)		(83,045	)
Reclassification adjustment for (gains) losses realized and included in net income		(12,545	)		–			136			–			(12,409	)
Reclassification adjustment for tax expense (benefit)on realized gains (losses)		4,886			–			(53	)		–			4,833
Unrealized gains on employee benefit plans		–			–			–			373			373
Balance at June 30, 2010	$	184,817		$	(53,845	)	$	(956	)	$	(16,245	)	$	113,771
Balance at December 31, 2010	$	157,770		$	(35,276	)	$	(878	)	$	(13,777	)	$	107,839
Net change in unrealized gains (losses) on securities		73,466			(9,448	)		–			–			64,018
Credit losses recognized in earnings		–			9,349			–			–			9,349
Transfer from Non-Credit Related Unrealized Losses on OTTI Securities to unrealized gain on available for sale securities		180			(180	)		–			–			–
Tax benefit (expense) on unrealized gains (losses)		(29,372	)		662			–			–			(28,710	)
Reclassification adjustment for (gains) losses realized and included in net income		(10,370	)		–			156			–			(10,214	)
Reclassification adjustment for tax expense (benefit) on realized gains (losses)		4,034			–			(61	)		–			3,973
Unrealized gains on employee benefit plans		–			–			–			–			–
Balance at June 30, 2011	$	195,708		$	(34,893	)	$	(783	)	$	(13,777	)	$	146,255

  1Represents changes in unrealized losses recognized in AOCI on available for sale securities for which an other-than-temporary impairment (“OTTI”) was recorded in earnings.