Q2 2026 BOK Financial Corp Earnings Call Transcript
Key Points
- BOK Financial Corp (BOKF) reported strong earnings of $176.5 million, or $2.92 per diluted share, for the second quarter.
- The company achieved record quarterly loan growth, with total loans increasing by 3.4% sequentially and 11.5% year-over-year.
- Fee-based businesses contributed significantly, with record quarterly revenue in fiduciary and asset management.
- Capital levels remain robust, with tangible common equity at 9.6% and CET1 at 12.9%.
- Credit quality remains excellent, with very low levels of non-performing assets and net charge-offs averaging just 3 basis points over the last 12 months.
- Total fee income declined by $7.8 million sequentially, impacted by lower customer activity in the fixed income business.
- Trading revenue decreased by $9.7 million due to a mix shift from trading fee income into trading net interest income.
- Elevated long-term rates negatively affected the mortgage banking business, with revenue down $2 million compared to the prior quarter.
- Total expenses increased by $7.5 million during the quarter, driven by a rise in deferred compensation expense.
- The competitive environment for deposits remains intense, with rising pressure on deposit pricing.
Greetings. Welcome to BOK Financial Corporation's Second Quarter 2026 Earnings Conference Call. (Operator Instructions) As a reminder, this conference is being recorded. I would now like to turn the presentation over to Heather King, Director of Investor Relations for BOK Financial Corporation. Please proceed.
Good afternoon and thank you for joining our discussion of BOK Financial's Second Quarter 2026 Financial Results. Our CEO, Stacy Kymes, will provide opening comments, cover the loan portfolio and related credit metrics. Scott Grauer, Executive Vice President of Wealth Management, will cover our fee-based results.
And our CFO, Marty Grunst, will then discuss financial performance for the quarter as well as our forward guidance. Slide presentation and press release are available on our website at bokf.com. We refer you to the disclaimers on Slide 2 regarding any forward-looking statements made during this call. I will now turn the call over to Stacy Kymes, who will begin on Slide 4.
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