NASDAQ$BOKF

BOK Financial Corp · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

Reported annual earnings of $520 million or $7.68 per share and quarterly earnings of $168 million or $2.51 per share.

BOK Financial Corporation reported strong fourth-quarter results, building on the earnings momentum developed throughout 2022. The quarter saw the highest pre-provision net revenue in the company's history, driven by loan growth, net interest margin expansion, strong capital levels, and balance sheet liquidity. Asset quality remained very strong, and actions were taken to move toward a more neutral interest rate position.

  • Net income was $168.4 million or $2.51 per diluted share.
  • Net interest revenue totaled $352.6 million, an increase of $36.3 million.
  • Fees and commissions revenue was relatively consistent with the prior quarter at $193.6 million.
  • Period-end loans increased $767 million to $22.6 billion.

Headline financials

Total Revenue

$550M

Previous: $435M+26.5%
EPS (adj)

$2.51

Previous: $1.71+46.8%
Efficiency Ratio

57.9%

Previous: 70.1%-17.5%
CET1 Ratio

11.7%

No prior period
Leverage Ratio

9.9%

No prior period
Net Interest Margin

3.5%

Previous: 2.5%+40.5%
Net Income

$168M

Previous: $117M+43.5%
Operating Income

$242M

Previous: $135M+78.8%
Cash & Equivalents

$1.4B

Previous: $2.84B-50.6%
Total Assets

$47.8B

Previous: $50.2B-4.9%
Stock-Based Comp

$4.91M

Previous: $4.08M+20.4%

Revenue & EPS history

BOK Financial · Revenue · Quarterly

$550M

Q4 2022+26.5%vs Q4 2021
Beat estimate in 8 of 14 quarters(57%)
ActualEstimate

Revenue by segment

BOK Financial · $522M total across 3 segments · Q4 2022

  • Commercial Banking
    $292M+47.2%
  • Wealth Management
    $149M+30.2%
  • Consumer Banking
    $80.9M+16.7%

Forward guidance

BOK Financial is well-positioned as it begins 2023, due to its thoughtful growth, diverse business mix, resilient geographic footprint, and proven credit discipline.

Tailwinds

  • Loan growth
  • Net interest margin expansion
  • Strong capital levels
  • Balance sheet liquidity
  • Asset quality remains very strong

Headwinds

  • Rising inflation
  • Increased market volatility
  • Decreased deposit service charges
  • Reduced mortgage production volume
  • Narrowing margins

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2022

Historical avgQ4 2022

-0.0%

Avg return

Earnings day

+0.4%

Avg return

5 days after

+1.6%

Avg return

30 days after

43%

30 / 69 earnings

Positive

+6.9%

Q3 2020

Best reaction

-12.0%

Q4 2021

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-2.2%-3.3%-5.4%
Q4 2025+1.3%+5.7%+4.7%
Q3 2025-3.1%-3.3%-3.7%
Q2 2025-1.7%-0.4%+4.6%
Q1 2025-1.7%+2.6%+4.2%
Q4 2024-0.2%-2.7%-3.2%
Q3 2024-2.1%-4.1%+5.0%
Q2 2024-1.5%-1.0%-5.2%
Q1 2024-1.3%-1.3%+1.0%
Q4 2023+2.9%+4.2%+0.0%
Q3 2023-9.6%-7.6%-0.2%
Q2 2023-2.4%-1.8%-11.0%
Q1 2023+5.2%+4.3%+4.8%
Q4 2022-0.1%-0.8%+4.4%
Q3 2022+3.7%+9.1%+3.1%
Q2 2022+5.7%+9.3%+12.8%
Q1 2022-0.5%-1.0%+0.1%
Q4 2021-12.0%-11.5%-12.0%
Q3 2021+5.4%+8.5%+11.7%
Q2 2021-0.3%+1.5%+6.9%
Q1 2021-2.6%-0.2%+3.5%
Q4 2020-2.7%-2.2%+5.5%
Q3 2020+6.9%+6.2%+21.7%
Q2 2020+3.9%+0.3%-0.6%
Q1 2020+5.8%+13.2%+10.4%
Q4 2019-3.7%-6.2%-5.5%
Q3 2019-1.5%-0.5%+4.9%
Q2 2019+5.0%+6.1%-2.8%
Q1 2019-1.8%+0.8%-9.9%
Q4 2018+0.0%+2.0%+9.3%
Q3 2018-2.1%-0.4%-3.3%
Q2 2018+0.5%+0.1%+3.2%
Q1 2018-0.8%-2.7%-1.1%
Q4 2017+0.0%+1.1%-1.2%
Q3 2017-3.6%-4.7%-6.5%
Q2 2017-2.6%-3.2%-7.4%
Q1 2017+5.9%+5.0%+2.7%
Q4 2016+1.6%-1.8%-0.5%
Q3 2016+1.1%+0.2%+15.0%
Q2 2016-0.8%-4.1%+2.9%
Q1 2016-3.3%
Q4 2015+5.2%
Q3 2015+6.9%
Q2 2015+2.7%
Q1 2015+2.1%
Q4 2014-2.9%
Q3 2014+0.4%
Q2 2014+1.7%
Q1 2014-1.6%
Q4 2013-0.9%
Q3 2013-4.9%
Q2 2013-0.2%
Q1 2013-0.5%
Q4 2012-0.7%
Q3 2012+2.4%
Q2 2012+0.0%
Q1 2012+4.9%
Q4 2011-0.8%
Q4 2008-0.8%
Q4 2009-0.8%
Q3 2011-3.5%
Q2 2011+2.5%
Q1 2010+0.2%
Q1 2011+0.2%
Q4 2010-1.4%
Q3 2009+1.3%
Q3 2010+1.3%
Q2 2010-2.3%
Q2 2009-2.3%

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