BOK Financial Reports $52 Million Second Quarter Income

Net Interest Revenue Growth Drives Earnings
TULSA, Okla.--(Business Wire)--
BOK Financial Corporation (NASDAQ:BOKF) reported net income of $52.1 million or
$0.77 per diluted share for the second quarter of 2009. Net income totaled $55.0
million or $0.81 per diluted share for the first quarter of 2009 and a net loss
of $1.2 million or $0.02 per diluted share was recognized in second quarter of
2008. Net income for the six months ended June 30, 2009 totaled $107.1 million
or $1.58 per diluted share compared with net income of $61.1 million or $0.90
per diluted share for the six months ended June 30, 2008. The second quarter of
2008 was impacted by $87.0 million of pre-tax charges for loan and energy
derivative credit exposure related to the bankruptcy filing by SemGroup LP and
related entities which reduced net income for the second quarter of 2008 by
approximately $57.0 million or $0.84 per diluted share.

In the second quarter of 2009, the Company incurred an $11.8 million pre-tax
charge for a special assessment by the FDIC and recognized net pre-tax gains on
available for sale securities of $15.2 million. In the first quarter of 2009,
the Company recognized net pre-tax gains on available for sale securities of
$7.2 million.

"BOK Financial is pleased to report net interest growth and solid fee revenue
for the second quarter of 2009," said President and CEO Stan Lybarger. "The
growth from our diversified revenue sources continues to enhance our strong
capital and liquidity position. However, declining loan demand may challenge
future net interest revenue and mortgage banking revenue until the economy
begins to recover."

Highlights of the second quarter of 2009 included:

* Net interest revenue totaled $175.6 million, up $5.7 million compared to the
first quarter of 2009. Net interest margin was 3.55% for the second quarter of
2009, up 8 basis points over the first quarter of 2009 due largely to higher
loan yields and lower funding costs.
* Fees and commissions revenue totaled $123.1 million for the second quarter of
2009. Mortgage banking revenue remained at relative high levels due to increased
loan volume driven by government initiatives to lower national mortgage interest
rates.
* Operating expenses totaled $175.8 million, up $10.0 million over the first
quarter of 2009. Increased operating expenses included an $11.8 million FDIC
special assessment.
* Combined reserve for credit losses totaled $274 million or 2.27% of
outstanding loans at June 30, 2009, up from $262 million or 2.07% of outstanding
loans at March 31, 2009. Net loans charged off and provision for credit losses
were $34.9 million and $47.1 million, respectively, for the second quarter of
2009.
* Non-performing assets totaled $446 million or 3.67% of outstanding loans and
repossessed assets at June 30, 2009. Non-performing assets totaled $414 million
or 3.26% of outstanding loans and repossessed assets at March 31, 2009.
* Outstanding loan balances were $12.1 billion at June 30, 2009, down $570
million since March 31, 2009. Commercial, commercial real estate and consumer
loans all decreased during the second quarter due largely to reduced customer
demand.
* Average deposit balances totaled $15.3 billion for the second quarter of 2009,
up $479 million compared with average deposits for the first quarter of 2009.
Total period-end deposits were $14.7 billion at June 30, 2009, down $615 million
since March 31, 2009 due largely to lower brokered time deposit account
balances.
* The Company`s tangible common equity ratio and tier 1 common equity ratio
increased to 7.55% and 9.77%, respectively, at June 30, 2009 from 6.84% and
9.58%, respectively, at March 31, 2009 due largely to lower unrealized losses on
securities. The tangible common equity ratio and tier 1 common equity ratio are
non-GAAP measures of capital strength used by the Company and investors based on
shareholders` equity as defined by generally accepted accounting principles
minus intangible assets and equity that does not benefit common shareholders
such as preferred equity and equity provided by the U.S. Treasury`s TARP Capital
Purchase Program. The Company chose not to participate in the U.S. Treasury`s
TARP Capital Purchase Program. Tier 1 capital ratios were 9.86% at June 30, 2009
and 9.66% at March 31, 2009.
* The Company paid a cash dividend of $16.2 million or $0.24 per common share
during the second quarter of 2009. On July 28, 2009, the board of directors
declared a cash dividend of $0.24 per common share payable on or about August
28, 2009 to shareholders of record as of August 14, 2009.

Net Interest Revenue

Net interest revenue totaled $175.6 million, up $5.7 million compared to the
first quarter of 2009 and $16.6 million or 10% over the second quarter of 2008.
Net interest margin was 3.55% for the second quarter of 2009, 3.47% for the
first quarter of 2009 and 3.44% for the second quarter of 2008. The increase in
net interest margin over the previous quarter resulted from lower funding costs,
partially offset by a decrease in the yield on earning assets. The cost of
interest-bearing liabilities decreased 19 basis points, including a 27 basis
point decrease in the cost of interest-bearing deposits and a 5 basis point
decrease in the cost of other borrowed funds. The yield on average earning
assets for the second quarter of 2009 decreased 10 basis points compared with
the previous quarter. Securities yields decreased 42 basis points and loan
yields increased 8 basis points.

In addition to changes due to net interest margin, net interest revenue
increased due to earning asset growth. Average earning assets grew $205 million
during the second quarter of 2009, primarily due to a $542 million increase in
average securities, primarily mortgage-backed securities issued by U.S.
government agencies, partially offset by a decrease of $382 million in average
outstanding loans.

Average deposits increased $479 million compared with the first quarter of 2009,
including a $243 million increase in average interest-bearing transaction
accounts, a $319 million increase in average demand deposits, and a $91 million
decrease in average time deposits. Average funds purchased, repurchase
agreements and other borrowed funds decreased $452 million from the first
quarter of 2009.

Fees and Commissions Revenue

Fees and commissions revenue totaled $123.1 million for the second quarter of
2009, $121.5 million for the first quarter of 2009 and $63.7 million for the
second quarter of 2008. Fees and commissions revenue for the second quarter of
2008 included a $60.7 million charge to adjust SemGroup LP derivative contracts
to fair value. The $1.6 million increase in fees and commissions revenue from
the previous quarter was primarily due to increases in transaction card revenue,
mortgage banking revenue and deposit service charges partially offset by
decreased brokerage and trading revenue. Mortgage banking revenue totaled $19.9
million for the second quarter of 2009 and $18.5 million for the first quarter
of 2009, well above historic norms. Mortgage loan originations totaled $1.0
billion for the second quarter of 2009, up $315 million over the previous
quarter due to government initiatives to lower national mortgage interest rates.
Mortgage loan originations totaled $289 million in the second quarter of 2008.

Operating Expenses

Operating expenses totaled $175.8 million for the second quarter of 2009, up
$10.0 million from the preceding quarter. Changes in the fair value of mortgage
servicing rights reduced operating expenses by $7.9 million in the second
quarter of 2009 and $2.0 million in the first quarter of 2009. The increase in
the fair value of mortgage servicing rights resulted from the effect of changes
in interest rates on anticipated prepayment speeds, potential earnings on escrow
funds and discount rates. Excluding mortgage servicing rights, operating expense
increased $15.9 million primarily due to an $11.8 million FDIC insurance special
assessment in the second quarter of 2009 and increased personnel expenses of
$3.6 million. Operating expenses totaled $159.3 million for the second quarter
of 2008.

Credit Quality

Non-performing assets continued to increase during the second quarter of 2009.
"We are pleased to acknowledge that the non-performing asset growth rate has
decreased over the past three quarters", Lybarger said. "We continue to
aggressively address credit quality through evaluation and improvement of our
loan portfolio and proactively manage non-performing assets in a manner that
maximizes their value."

Non-performing assets totaled $446 million or 3.67% of outstanding loans and
repossessed assets at June 30, 2009 which consisted of non-accruing loans of
$353 million, renegotiated loans of $17 million (including $11 million of
residential mortgage loans guaranteed by U.S. government agencies) and $75
million of real estate and other repossessed assets. Non-accruing energy loans
included $47 million that represents approximately one-third of the
pre-bankruptcy amount due from SemGroup LP. Subsequent to June 30, the Company
sold $25 million of the face amount of its SemGroup bankruptcy claims which will
reduce non-accruing loans by $13.2 million.

Non-accruing loans totaled $353 million or 2.92% of outstanding loans at June
30, 2009, compared with $339 million or 2.68% of outstanding loans at March 31,
2009 and $149 million or 1.19% of outstanding loans at June 30, 2008.
Approximately $207 million of non-accruing loans have been charged-down to
reported values of $99 million, amounts management expects to recover. During
the second quarter of 2009, $72 million of new non-accruing loans were
identified, offset by $27 million in charge offs, $20 million in foreclosures
and $9 million in payments.

Approximately $106 million or 20% of loans in the Arizona market were
non-accruing at June 30, 2009, down from $112 million at March 31, 2009.
Non-accruing loans in Oklahoma and Texas, the Company`s largest markets, totaled
$108 million or 1.96% of outstanding loans and $52 million or 1.49% of
outstanding loans in the respective markets, at June 30, 2009. Non-accruing
loans in New Mexico and Colorado markets totaled $30 million and $46 million,
respectively, up approximately $12 million and $7 million, respectively. Less
than 5% of outstanding loans in these respective markets at June 30, 2009 were
non-accruing.

Non-accruing commercial loans totaled $127 million or 1.88% of total commercial
loans at June 30, 2009. Non-accruing commercial loans have decreased $2.0
million since March 31, 2009.

Non-accruing commercial real estate loans totaled $190 million or 7.26% of
outstanding commercial real estate loans at June 30, 2009. Total non-accruing
commercial real estate loans increased $14 million since March 31, 2009,
primarily due to a $7 million increase in loans secured by retail facilities in
the Arizona market and a $4 million increase in loans secured by commercial
office buildings. Non-accruing commercial real estate loans attributed to
various markets included $100 million or 38% of total commercial real estate
loans in Arizona, $32 million or 12% of commercial real estate loans in
Colorado, $28 million or 3% of commercial real estate loans in Oklahoma and $18
million or 6% of commercial real estate loans in New Mexico.

Non-accruing residential mortgage loans totaled $36 million or 1.96% of
outstanding residential mortgage loans at June 30, 2009, a $1.7 million increase
over March 31, 2009. The distribution of non-accruing residential mortgage loans
among various markets included $12 million or 3.38% of mortgage loans in Texas,
$11 million or 0.90% of mortgage loans in Oklahoma and $5 million or 8.99% of
mortgage loans in Arizona. Mortgage loans past due 30 to 90 days were $27
million at June 30, 2009 compared to $28 million at March 31, 2009.

The combined reserve for credit losses totaled $274 million or 2.27% of
outstanding loans and 78% of non-accruing loans at June 30, 2009. The allowance
for loan losses was $263 million and the reserve for off-balance sheet credit
losses was $11 million. During the second quarter of 2009, the Company
recognized a $47.1 million provision for credit losses. Net losses charged
against the allowance for loan losses totaled $34.9 million or 1.13% annualized
of average outstanding loans.

Real estate and other repossessed assets totaled $75 million at June 30, 2009,
up $14 million from March 31, 2009. Real estate and other repossessed assets
increased by $20 million in additions offset by $6 million in sales. Real estate
and other repossessed assets included $43 million of 1-4 family residential
properties and residential land development properties, $17 million of developed
commercial real estate properties, $7 million of equipment, $5 million of
undeveloped land and $2 million of automobiles. The distribution of real estate
owned and other repossessed assets among various markets included $25 million in
Arizona, $17 million in Texas, $8 million in New Mexico, $7 million in Kansas
City, $6 million in Arkansas, $6 million in Oklahoma, and $5 million in
Colorado.

The Company also has off-balance sheet obligations related to certain community
development residential mortgage loans sold to U.S. government agencies with
recourse. These mortgage loans were underwritten to standards approved by the
agencies, including full documentation and originated under programs available
only for owner-occupied properties. The outstanding principal balance of these
loans totaled $346 million at June 30, 2009. These loans are primarily to
borrowers in the Company`s primary market areas, including $243 million in
Oklahoma, $39 million in Arkansas, $19 million in New Mexico, $17 million in
Texas and $14 million in Kansas City. At June 30, 2009, approximately 4.30% of
these loans are non-performing and 6% were past due 30 to 90 days. A separate
reserve for credit risk of $10.8 million is available for losses on these loans.

Securities and Derivatives

The Company`s portfolio of available for sale securities totaled $7.2 billion at
June 30, 2009, up $233 million since March 31, 2009. The increase in the
securities portfolio included $100 million of net securities purchased and a
$133 million increase in the net fair value. The available for sale portfolio
consisted primarily of mortgage-backed securities, including $5.8 billion fully
backed by U.S government agencies and $1.2 billion privately issued by publicly
owned financial institutions. The portfolio does not hold any securities backed
by sub-prime mortgage loans, collateralized debt obligations or collateralized
loan obligations. The Company holds no debt of corporate issuers.

Net unrealized losses on the Company`s portfolio of available for sale
securities totaled $128 million at June 30, 2009, a $133 million improvement
from March 31, 2009. Net unrealized gains on mortgage-backed securities issued
by U.S. government agencies increased by $20 million and net unrealized losses
on privately-issued mortgage backed securities decreased by $106 million.

Approximately $506 million of the privately-issued mortgage-backed securities
were rated below investment grade by at least one nationally-recognized rating
agency. The aggregate unrealized losses on securities rated below investment
grade totaled $148 million at June 30, 2009. Aggregate unrealized losses on
these same securities were $191 million at March 31, 2009. The Company
recognized a $279 thousand other-than-temporary impairment charge against
earnings in the second quarter related to certain mortgage-backed securities due
to further declines in the projected cash flows. Other-than-temporary impairment
of $7.0 million was recognized in earnings in the first quarter of 2009 from
these same securities.

Net unrealized losses on perpetual preferred stocks issued by other financial
institutions totaled $2.9 million at June 30, 2009 and $8.3 million at March 31,
2009. No other-than-temporary impairment charge was recognized on these
securities during the second quarter of 2009.

Net gains on securities totaled $6.5 million for the second quarter of 2009,
compared with a net gain of $20.1 million for the first quarter of 2009 and a
net loss of $5.2 million for the second quarter of 2008.

Three Months Ended
June 30, March 31, June 30,

2009
2009
2008

Gain on available for sale securities $ 16,670 $ 22,226 $ 276
Loss on mortgage hedge securities (10,199 ) (2,118 ) (5,518 )
Net gain (loss) on securities $ 6,471 $ 20,108 $ (5,242 )

Gain (loss) on change in fair value of
mortgage servicing rights $ 7,865 $ 1,955 $ (767 )

The Company recognized $16.7 million of gains on the sale of $1.2 billion of
available for sale securities in the second quarter of 2009. These securities
were purchased at deep discounts near the beginning of the recent market
disruption. Securities sold were low coupon U.S. government agency issued
mortgage-backed securities. These were replaced with higher coupon securities
that will have superior future yields. The Company intends to sell an additional
$91 million of similar securities after June 30. The current fair value of these
securities was below their amortized cost and the Company recognized $1.3
million in other-than-temporary impairment charges on these securities during
the second quarter.

BOK Financial also maintains a portfolio of mortgage-backed securities issued by
U.S. government agencies as an economic hedge against changes in the fair value
of mortgage servicing rights. The fair value of mortgage servicing rights
increased $7.9 million and the fair value of mortgage hedge securities decreased
$10.2 million during the second quarter of 2009.

The Company has a portfolio of derivative contracts held for customer risk
management programs and internal interest rate risk management programs. At June
30, 2009, the fair value of all asset contracts totaled $463 million, net of
cash margin held by the Company. The largest net amount due from a single
counterparty, a domestic subsidiary of a major energy company, at June 30, 2009
was $164 million. This amount was offset by $140 million in letters of credit
issued by independent financial institutions.

Balance Sheet Management

Outstanding loans at June 30, 2009 were $12.1 billion, down $570 million from
March 31, 2009. Loan balances were lower across most sectors of the loan
portfolio and markets due to reduced customer demand in response to current
economic conditions, normal repayment trends and management decisions to
mitigate credit risk by exiting certain loan type and relationships. Commercial
loans decreased $386 million from March 31, 2009, primarily due to a decrease of
$126 million in energy sector loans and $106 million in wholesale/retail sector
loans. Commercial real estate loans decreased $120 million compared to the prior
quarter, primarily due to a $61 million decrease in construction and land
development, a $38 million decrease in multifamily and a $21 million decrease in
industrial sectors of the real estate loan portfolio. Residential mortgage loans
increased $14 million from the prior quarter primarily due to increased
originations driven by lower interest rates. Consumer loans decreased $78
million compared to the prior quarter primarily due to a $68 million decrease in
indirect automobile loans related to the previously announced decision to
curtail that business during the first quarter of 2009 in favor of a
customer-focused direct approach to consumer lending.

Total deposits decreased $615 million during the second quarter and totaled
$14.7 billion at June 30, 2009. Time deposit balances were down $852 million due
largely to a $492 million decrease in brokered deposits and reductions in
certain higher-costing retail accounts. Among our lines of business, commercial
banking deposits increased $522 million during the second quarter of 2009,
offset by decreased wealth management deposits of $472 million and decreased
consumer banking deposits of $47 million.

The Company and each of its subsidiary banks exceeded the regulatory definition
of well capitalized at June 30, 2009. The Company`s Tier 1 and total capital
ratios were 9.86% and 13.34%, respectively, at June 30, 2009. The Company`s Tier
1 and total capital ratios were 9.66% and 13.08%, respectively, at March 31,
2009. In addition, the Company`s tangible common equity ratio was 7.55% at June
30, 2009 and 6.84% at March 31, 2009. The increase in tangible common equity
ratio was primarily due to retained earnings growth and reduced net unrealized
losses on available for sale securities.

About BOK Financial Corporation

BOK Financial is a regional financial services company that provides commercial
and consumer banking, investment and trust services, mortgage origination and
servicing, and an electronic funds transfer network. Holdings include Bank of
Albuquerque, N.A., Bank of Arizona, N.A., Bank of Arkansas, N.A., Bank of
Oklahoma, N.A., Bank of Texas, N.A., Colorado State Bank & Trust, N.A., Bank of
Kansas City, N.A., BOSC, Inc., Cavanal Hill Investment Management, Inc., the
TransFund electronic funds network, and Southwest Trust Company, N.A. Shares of
BOK Financial are traded on the NASDAQ under the symbol BOKF. For more
information, visit www.bokf.com.

The Company will continue to evaluate critical assumptions and estimates, such
as the adequacy of the allowance for credit losses and asset impairment as of
June 30, 2009 through the date its financial statements are filed with the
Securities and Exchange Commission and will adjust amounts reported if
necessary.

This news release contains forward-looking statements that are based on
management`s beliefs, assumptions, current expectations, estimates and
projections about BOK Financial, the financial services industry and the economy
generally. Words such as "anticipates," "believes," "estimates," "expects,"
"forecasts," "plans," "projects," 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 involve judgments as to future events and are inherently forward-looking
statements. Assessments that BOK Financial`s acquisitions and other 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 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 (1) the ability to fully realize
expected cost savings from mergers within the expected time frames, (2) the
ability of other companies on which BOK Financial relies to provide goods and
services in a timely and accurate manner, (3) changes in interest rates and
interest rate relationships, (4) demand for products and services, (5) the
degree of competition by traditional and nontraditional competitors, (6) changes
in banking regulations, tax laws, prices, levies and assessments, (7) the impact
of technological advances and (8) trends in consumer behavior as well as their
ability to repay loans. BOK Financial 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.

BALANCE SHEETS
BOK FINANCIAL CORPORATION
(In thousands)
Period Ended
June 30, March 31, June 30,
2009 2009 2008
(Unaudited) (Unaudited)
ASSETS
Cash and due from banks $ 470,553 $ 686,976 $ 712,324
Trading securities 84,548 128,179 62,532
Funds sold and resell agreements 112,128 27,197 52,005
Securities:
Available for sale 7,224,673 6,991,803 5,926,602
Investment 269,844 251,848 245,754
Mortgage trading securities 222,864 454,493 98,269
Total securities 7,717,381 7,698,144 6,270,625
Residential mortgage loans held for sale 326,363 245,791 119,944
Loans:
Commercial 6,715,851 7,101,530 7,038,573
Commercial real estate 2,611,693 2,732,081 2,827,497
Residential mortgage 1,833,975 1,819,950 1,607,597
Consumer 908,409 986,355 1,044,371
Total loans 12,069,928 12,639,916 12,518,038
Less reserve for loan losses (263,309 ) (251,002 ) (154,018 )
Loans, net of reserve 11,806,619 12,388,914 12,364,020
Premises and equipment, net 286,295 281,300 266,435
Accrued revenue receivable 118,718 104,205 159,066
Intangible assets, net 357,838 359,523 365,060
Mortgage servicing rights, net 67,413 50,246 72,103
Real estate and other repossessed assets 75,243 61,383 21,025
Bankers' acceptances 8,260 9,316 16,031
Derivative contracts 462,971 551,316 1,380,876
Cash surrender value of bank-owned life insurance 241,792 239,348 231,527
Receivable on unsettled securities trades 237,200 - 39,052
Other assets 394,997 501,604 303,312
TOTAL ASSETS $ 22,768,319 $ 23,333,442 $ 22,435,937

LIABILITIES AND EQUITY
Deposits:
Demand $ 2,825,179 $ 3,050,896 $ 1,951,939
Interest-bearing transaction 7,091,471 6,627,222 7,650,255
Savings 166,806 168,644 162,138
Time 4,571,933 5,423,659 4,361,384
Total deposits 14,655,389 15,270,421 14,125,716
Funds purchased and repurchase agreements
2,798,274 2,217,081 3,101,425
Other borrowings 2,152,177 2,276,430 2,153,853
Subordinated debentures 398,465 398,443 398,340
Accrued interest, taxes, and expense 119,003 146,111 81,507
Bankers' acceptances 8,260 9,316 16,031
Due on unsettled securities trades - 311,133 -
Derivative contracts 445,463 640,275 456,379
Other liabilities 125,126 118,181 140,758
TOTAL LIABILITIES 20,702,157 21,387,391 20,474,009
Shareholders' equity:
Capital, surplus and retained earnings 2,149,020 2,111,823 2,006,754
Accumulated other comprehensive loss (98,448 ) (180,523 ) (64,378 )
TOTAL SHAREHOLDERS' EQUITY 2,050,572 1,931,300 1,942,376
Non-controlling interest 15,590 14,751 19,552
TOTAL EQUITY 2,066,162 1,946,051 1,961,928
TOTAL LIABILITIES AND EQUITY $ 22,768,319 $ 23,333,442 $ 22,435,937

AVERAGE BALANCE SHEETS - UNAUDITED
BOK FINANCIAL CORPORATION
(In thousands)
Quarter Ended
June 30, March 31, December 31, September 30, June 30,
2009 2009 2008 2008 2008

ASSETS
Trading securities $ 112,960 $ 111,962 $ 78,840 $ 66,419 $ 74,058
Funds sold and resell agreements 29,277 50,701 48,246 79,862 72,444
Securities:
Available for sale 7,242,931 6,645,086 6,409,906 5,945,220 5,880,844
Investment 271,068 238,562 242,503 239,655 249,723
Mortgage trading securities 365,434 453,304 237,319 126,837 155,612
Total securities 7,879,433 7,336,952 6,889,728 6,311,712 6,286,179
Residential mortgage loans held for sale 286,077 201,135 121,184 116,533 105,925
Loans:
Commercial 6,901,057 7,182,481 7,452,799 7,228,814 6,976,292
Commercial real estate 2,684,020 2,762,789 2,716,465 2,696,503 2,802,292
Residential mortgage 1,884,023 1,841,006 1,641,023 1,655,710 1,606,518
Consumer 933,950 998,489 1,016,409 1,015,796 1,035,985
Total loans 12,403,050 12,784,765 12,826,696 12,596,823 12,421,087
Less allowance for loan losses (273,335 ) (252,734 ) (209,319 ) (182,844 ) (145,524 )
Total loans, net 12,129,715 12,532,031 12,617,377 12,413,979 12,275,563
Total earning assets 20,437,462 20,232,781 19,755,374 18,988,504 18,814,168
Cash and due from banks 638,791 661,433 534,039 499,992 524,922
Cash surrender value of bank-owned life insurance 240,199 237,805 235,195 232,465 229,731
Derivative contracts 493,448 476,091 352,083 900,777 896,569
Other assets 1,264,131 1,335,259 1,394,960 1,199,425 1,142,910
TOTAL ASSETS $ 23,074,031 $ 22,943,369 $ 22,271,651 $ 21,821,163 $ 21,608,300

LIABILITIES AND EQUITY
Deposits:
Demand $ 3,183,338 $ 2,864,751 $ 2,712,384 $ 2,739,209 $ 2,634,038
Interest-bearing transaction 6,854,003 6,610,805 6,116,465 6,565,935 6,420,291
Savings 167,813 159,537 155,784 159,856 159,798
Time 5,123,947 5,215,091 5,109,303 4,792,366 4,076,167
Total deposits 15,329,101 14,850,184 14,093,936 14,257,366 13,290,294
Funds purchased and repurchase agreements
2,316,990 2,562,066 3,095,054 3,061,186 3,126,110
Other borrowings 1,951,699 2,158,963 1,986,857 1,390,233 2,267,076
Subordinated debentures 398,456 398,425 398,392 398,361 398,336
Derivative contracts 536,232 641,974 494,778 509,057 239,211
Other liabilities 534,889 416,242 293,752 258,775 282,656
TOTAL LIABILITIES 21,067,367 21,027,854 20,362,769 19,874,978 19,603,683
Total equity 2,006,664 1,915,515 1,908,882 1,946,185 2,004,617
TOTAL LIABILITIES AND EQUITY $ 23,074,031 $ 22,943,369 $ 22,271,651 $ 21,821,163 $ 21,608,300

STATEMENTS OF EARNINGS - UNAUDITED
BOK FINANCIAL CORPORATION
(In thousands, except per share data)
Quarter Ended Six Months Ended
June 30, June 30,
2009 2008 2009 2008

Interest revenue $ 230,685 $ 260,086 $ 463,912 $ 536,127
Interest expense 55,105 101,147 118,487 230,060
Net interest revenue 175,580 158,939 345,425 306,067
Provision for credit losses 47,120 59,310 92,160 76,881
Net interest revenue afterprovision for credit losses
128,460 99,629 253,265 229,186

Other operating revenue
Brokerage and trading revenue 21,794 (35,462 ) 46,493 (11,549 )
Transaction card revenue 27,533 25,786 52,961 49,344
Trust fees and commissions 16,860 20,940 33,370 41,736
Deposit service charges and fees 28,421 30,199 55,826 57,885
Mortgage banking revenue 19,882 8,203 38,380 16,237
Bank-owned life insurance 2,418 2,658 4,735 5,170
Margin asset fees 68 4,460 135 6,427
Other revenue 6,124 6,965 12,707 12,356
Total fees and commissions 123,100 63,749 244,607 177,606
Gain (loss) on other assets 973 (1,149 ) 1,116 (1,145 )
Gain (loss) on derivatives, net (1,037 ) (2,961 ) (2,701 ) (848 )
Gain (loss) on securities, net 6,471 (5,242 ) 26,579 4,684
Total other-than-temporary impairment losses (1,542 ) - (55,910 ) (5,306 )
Portion of loss recognized in other comprehensive income - - (39,366 ) -
Net impairment losses recognized in earnings (1,542 ) - (16,544 ) (5,306 )
Total other operating revenue 127,965 54,397 253,057 174,991

Other operating expense
Personnel 96,191 89,597 188,818 177,703
Business promotion 4,569 5,777 8,997 10,416
Professional fees and services 7,363 6,973 13,875 12,621
Net occupancy and equipment 15,973 15,100 32,231 30,161
Insurance 5,898 2,626 11,536 6,336
FDIC special assessment 11,773 - 11,773 -
Data processing and communications 20,452 19,523 39,758 38,416
Printing, postage and supplies 4,072 4,156 8,643 8,575
Net (gains) losses and operating expenses of repossessed assets
996 (229 ) 2,802 149
Amortization of intangible assets 1,686 1,885 3,372 3,810
Mortgage banking costs 9,336 6,054 16,803 11,735
Change in fair value of mortgage servicing rights (7,865 ) 767 (9,820 ) 2,529
Visa retrospective responsibility obligation - - - (2,767 )
Other expense 5,326 7,039 12,776 12,988
Total other operating expense 175,770 159,268 341,564 312,672

Net income before taxes 80,655 (5,242 ) 164,758 91,505
Federal and state income taxes 28,315 (2,862 ) 57,153 31,588

Net income before non-controlling interest 52,340 (2,380 ) 107,605 59,917
Non-controlling interest income (expense), net (225 ) 1,219 (458 ) 1,187

Net income attributable to BOK Financial Corporation $ 52,115 $ (1,161 ) $ 107,147 $ 61,104

Average shares outstanding:
Basic 67,344,577 67,452,181 67,330,590 67,327,155
Diluted 67,448,029 67,452,181 67,417,874 67,690,919

Net income per share:
Basic $ 0.77 $ (0.02 ) $ 1.59 $ 0.91
Diluted $ 0.77 $ (0.02 ) $ 1.58 $ 0.90

FINANCIAL HIGHLIGHTS - UNAUDITED
BOK FINANCIAL CORPORATION
(In thousands, except ratio and share data)
Quarter Ended
June 30, March 31, December 31, September 30, June 30,
2009 2009 2008 2008 2008

Capital:
Period-end shareholders' equity $ 2,050,572 $ 1,931,300 $ 1,846,257 $ 1,940,503 $ 1,942,376
Risk weighted assets $ 18,338,540 $ 18,355,862 $ 18,401,051 $ 18,347,504 $ 18,665,121
Risk-based capital ratios:
Tier 1 9.86 % 9.66 % 9.40 % 9.31 % 8.92 %
Total capital 13.34 % 13.08 % 12.81 % 12.62 % 12.00 %
Leverage ratio 7.97 % 7.85 % 7.89 % 7.94 % 7.83 %
Tangible common equity ratio (A) 7.55 % 6.84 % 6.64 % 7.16 % 7.15 %
Tier 1 common equity ratio (B) 9.77 % 9.58 % 9.32 % 9.20 % 8.82 %

Common stock:
Book value per share $ 30.30 $ 28.57 $ 27.36 $ 28.78 $ 28.78

Market value per share:
High $ 43.02 $ 40.71 $ 54.42 $ 53.94 $ 60.74
Low $ 34.46 $ 22.95 $ 38.40 $ 38.61 $ 49.11

Cash dividends paid $ 16,184 $ 15,027 $ 15,358 $ 15,170 $ 15,180
Dividend payout ratio 31.05 % 27.31 % 43.33 % 26.76 % (1307.49 %)
Shares outstanding, net 67,674,442 67,589,045 67,473,086 67,433,837 67,488,388
Stock buy-back program:
Shares repurchased - - - 75,000 -
Amount $ - $ - $ - $ 3,337,000 $ -
Average price per share $ - $ - $ - $ 44.49 $ -

Performance ratios (quarter annualized):
Return on average assets 0.91 % 0.97 % 0.63 % 1.03 % (0.02 %)
Return on average equity 10.42 % 11.65 % 7.39 % 11.59 % (0.23 %)
Net interest margin 3.55 % 3.47 % 3.57 % 3.48 % 3.44 %
Efficiency ratio 61.02 % 57.10 % 54.94 % 54.19 % 70.52 %

Other data:
Gain (loss) on economic hedge of mortgage servicing rights $ (10,199 ) $ (2,118 ) $ 15,089 $ 1,186 $ (5,518 )
Trust assets $ 29,288,041 $ 28,700,791 $ 30,454,512 $ 33,242,296 $ 34,433,874
Mortgage servicing portfolio $ 6,082,501 $ 5,515,893 $ 5,256,159 $ 5,167,584 $ 5,075,285
Mortgage loan fundings during the quarter $ 1,023,272 $ 708,561 $ 214,521 $ 258,171 $ 288,937
Mortgage loan refinances to total fundings 71.00 % 73.51 % 34.84 % 25.14 % 36.76 %
Tax equivalent adjustment $ 1,791 $ 2,105 $ 2,063 $ 1,927 $ 2,084
Unrealized gain (loss) on available for sale securities $ (128,492 ) $ (261,856 ) $ (330,973 ) $ (158,652 ) $ (91,226 )

(A) Tangible common equity ratio is a non-GAAP measure.
Reconciliation to a GAAP financial measure follows:
Total shareholders' equity $ 2,050,572 $ 1,931,300 $ 1,846,257 $ 1,940,503 $ 1,942,376
Less: intangible assets, net (357,838 ) (359,523 ) (361,209 ) (363,177 ) (365,060 )
Tangible common equity $ 1,692,734 $ 1,571,777 $ 1,485,048 $ 1,577,326 $ 1,577,316

Total assets $ 22,768,319 $ 23,333,442 $ 22,734,648 $ 22,377,802 $ 22,435,937
Less: intangible assets, net (357,838 ) (359,523 ) (361,209 ) (363,177 ) (365,060 )
$ 22,410,481 $ 22,973,919 $ 22,373,439 $ 22,014,625 $ 22,070,877

Tangible common equity ratio 7.55 % 6.84 % 6.64 % 7.16 % 7.15 %

(B) Tier 1 common equity ratio is a non-GAAP measure.
Reconciliation to a GAAP financial measure follows:
Tier 1 capital $ 1,807,705 $ 1,773,576 $ 1,728,926 $ 1,707,390 $ 1,665,448
Less: non-controlling interest (15,590 ) (14,751 ) (13,855 ) (19,286 ) (19,552 )
Tier 1 common equity $ 1,792,115 $ 1,758,825 $ 1,715,071 $ 1,688,104 $ 1,645,896

Risk weighted assets $ 18,338,540 $ 18,355,862 $ 18,401,051 $ 18,347,504 $ 18,665,121

Tier 1 common equity ratio 9.77 % 9.58 % 9.32 % 9.20 % 8.82 %

QUARTERLY EARNINGS TRENDS - UNAUDITED
BOK FINANCIAL CORPORATION
(In thousands, except ratio and per share data)
Quarter Ended
June 30, March 31, December 31, September 30, June 30,
2009 2009 2008 2008 2008

Interest revenue $ 230,685 $ 233,227 $ 262,160 $ 263,358 $ 260,086
Interest expense 55,105 63,382 85,713 99,010 101,147
Net interest revenue 175,580 169,845 176,447 164,348 158,939
Provision for credit losses 47,120 45,040 73,001 52,711 59,310
Net interest revenue afterprovision for credit losses
128,460 124,805 103,446 111,637 99,629

Other operating revenue
Brokerage and trading revenue 21,794 24,699 23,507 30,846 (35,462 )
Transaction card revenue 27,533 25,428 25,177 25,632 25,786
Trust fees and commissions 16,860 16,510 17,143 20,100 20,940
Deposit service charges and fees 28,421 27,405 29,239 30,404 30,199
Mortgage banking revenue 19,882 18,498 7,217 7,145 8,203
Bank-owned life insurance 2,418 2,317 2,682 2,829 2,658
Margin asset fees 68 67 187 1,934 4,460
Other revenue 6,124 6,583 5,778 7,768 6,965
Total fees and commissions 123,100 121,507 110,930 126,658 63,749
Gain (loss) on other assets 973 143 (7,420 ) (841 ) (1,149 )
Gain (loss) on derivatives, net (1,037 ) (1,664 ) (2,219 ) 4,366 (2,961 )
Gain (loss) on securities, net 6,471 20,108 20,156 2,103 (5,242 )
Total other-than-temporary impairment losses (1,542 ) (54,368 ) - - -
Portion of loss recognized in other comprehensive income - (39,366 ) - - -
Net impairment losses recognized in earnings (1,542 ) (15,002 ) - - -
Total other operating revenue 127,965 125,092 121,447 132,286 54,397

Other operating expense
Personnel 96,191 92,627 87,695 87,549 89,597
Business promotion 4,569 4,428 7,283 5,837 5,777
Professional fees and services 7,363 6,512 7,923 6,501 6,973
Net occupancy and equipment 15,973 16,258 14,901 15,570 15,100
Insurance 5,898 5,638 3,216 2,436 2,626
FDIC special assessment 11,773 - - - -
Data processing and communications 20,452 19,306 19,720 19,911 19,523
Printing, postage and supplies 4,072 4,571 3,823 4,035 4,156
Net (gains) losses and operating expenses of repossessed assets
996 1,806 1,006 (136 ) (229 )
Amortization of intangible assets 1,686 1,686 1,967 1,884 1,885
Mortgage banking costs 9,336 7,467 4,967 5,811 6,054
Change in fair value of mortgage servicing rights (7,865 ) (1,955 ) 26,432 5,554 767
Visa retrospective responsibility obligation - - (1,700 ) 1,700 -
Other expense 5,326 7,450 8,209 7,638 7,039
Total other operating expense 175,770 165,794 185,442 164,290 159,268

Net income before taxes 80,655 84,103 39,451 79,633 (5,242 )
Federal and state income taxes 28,315 28,838 10,363 22,958 (2,862 )

Net income before non-controlling interest 52,340 55,265 29,088 56,675 (2,380 )
Non-controlling interest income (expense), net (225 ) (233 ) 6,355 10 1,219

Net income attributable to BOK Financial Corporation $ 52,115 $ 55,032 $ 35,443 $ 56,685 $ (1,161 )

Average shares outstanding:
Basic 67,344,577 67,315,986 67,294,069 67,263,317 67,452,181
Diluted 67,448,029 67,387,102 67,456,267 67,432,444 67,452,181

Net income (loss) per share:
Basic $ 0.77 $ 0.81 $ 0.53 $ 0.84 $ (0.02 )
Diluted $ 0.77 $ 0.81 $ 0.52 $ 0.84 $ (0.02 )

LOANS BY PRINCIPAL MARKET AREA - UNAUDITED
BOK FINANCIAL CORPORATION
(In thousands)
Quarter Ended
June 30, March 31, December 31, September 30, June 30,
2009 2009 2008 2008 2008

Oklahoma:
Commercial $ 2,918,478 $ 3,119,362 $ 3,356,520 $ 3,368,823 $ 3,228,179
Commercial real estate 855,742 881,620 843,576 827,357 875,546
Residential mortgage 1,249,104 1,234,417 1,196,924 1,134,066 1,099,277
Consumer 521,431 562,021 579,809 580,211 601,184
Total Oklahoma 5,544,755 5,797,420 5,976,829 5,910,457 5,804,186

Texas:
Commercial 2,182,756 2,277,186 2,353,860 2,205,169 2,166,925
Commercial real estate 741,199 816,830 825,769 853,653 889,364
Residential mortgage 345,780 337,044 315,438 307,655 299,996
Consumer 196,752 214,134 212,820 214,133 204,081
Total Texas 3,466,487 3,645,194 3,707,887 3,580,610 3,560,366

New Mexico:
Commercial 380,378 393,180 418,732 442,644 451,225
Commercial real estate 313,190 315,511 286,574 281,061 271,177
Residential mortgage 90,944 99,805 98,018 95,165 89,469
Consumer 18,826 19,900 18,616 18,296 16,977
Total New Mexico 803,338 828,396 821,940 837,166 828,848

Arkansas:
Commercial 97,676 99,955 103,446 104,630 96,775
Commercial real estate 133,026 133,227 134,015 127,925 124,049
Residential mortgage 19,015 17,145 16,875 16,941 19,527
Consumer 152,620 168,971 175,647 183,543 197,979
Total Arkansas 402,337 419,298 429,983 433,039 438,330

Colorado:
Commercial 595,858 675,223 660,546 598,519 489,844
Commercial real estate 269,923 267,035 261,820 266,739 276,062
Residential mortgage 58,557 59,120 53,875 49,676 38,517
Consumer 14,097 14,599 16,141 18,328 16,367
Total Colorado 938,435 1,015,977 992,382 933,262 820,790

Arizona:
Commercial 215,540 211,953 211,356 213,861 207,173
Commercial real estate 262,607 285,841 319,525 326,615 351,058
Residential mortgage 58,265 61,605 62,123 58,800 53,321
Consumer 3,229 5,261 6,075 5,551 5,315
Total Arizona 539,641 564,660 599,079 604,827 616,867

Kansas:
Commercial 325,165 324,671 307,143 340,156 398,452
Commercial real estate 36,006 32,017 29,969 30,642 40,241
Residential mortgage 12,310 10,814 9,321 7,650 7,490
Consumer 1,454 1,469 1,473 2,161 2,468
Total Kansas 374,935 368,971 347,906 380,609 448,651

TOTAL BOK FINANCIAL $ 12,069,928 $ 12,639,916 $ 12,876,006 $ 12,679,970 $ 12,518,038

DEPOSITS BY PRINCIPAL MARKET AREA - UNAUDITED
BOK FINANCIAL CORPORATION
(In thousands)
Quarter Ended
June 30, March 31, December 31, September 30, June 30,
2009 2009 2008 2008 2008

Oklahoma:
Demand $ 1,451,057 $ 1,651,111 $ 1,683,374 $ 1,681,325 $ 1,455,997
Interest-bearing:
Transaction 4,374,089 4,089,838 4,117,729 4,151,430 3,997,136
Savings 94,048 95,827 86,476 86,900 90,100
Time 2,033,312 2,876,313 3,104,933 3,036,297 2,672,401
Total interest-bearing 6,501,449 7,061,978 7,309,138 7,274,627 6,759,637
Total Oklahoma 7,952,506 8,713,089 8,992,512 8,955,952 8,215,634

Texas:
Demand 1,002,266 1,021,424 1,067,456 956,846 1,046,651
Interest-bearing:
Transaction 1,660,642 1,527,399 1,460,576 1,543,974 1,713,131
Savings 33,992 33,867 32,071 32,400 33,207
Time 1,035,919 1,054,632 857,416 794,911 723,146
Total interest-bearing 2,730,553 2,615,898 2,350,063 2,371,285 2,469,484
Total Texas 3,732,819 3,637,322 3,417,519 3,328,131 3,516,135

New Mexico:
Demand 175,033 180,308 155,345 176,477 168,621
Interest-bearing:
Transaction 434,498 401,000 397,382 376,941 417,607
Savings 18,255 17,858 16,289 16,316 16,432
Time 542,388 561,300 522,894 475,560 445,505
Total interest-bearing 995,141 980,158 936,565 868,817 879,544
Total New Mexico 1,170,174 1,160,466 1,091,910 1,045,294 1,048,165

Arkansas:
Demand 17,261 16,503 16,293 23,565 21,142
Interest-bearing:
Transaction 73,972 63,924 38,566 19,146 24,524
Savings 1,031 1,100 1,083 865 895
Time 162,505 150,015 75,579 47,684 39,305
Total interest-bearing 237,508 215,039 115,228 67,695 64,724
Total Arkansas 254,769 231,542 131,521 91,260 85,866

Colorado:
Demand 113,895 111,048 116,637 115,677 109,697
Interest-bearing:
Transaction 445,521 466,276 480,113 440,888 507,260
Savings 18,144 18,905 17,660 19,300 20,245
Time 579,709 584,971 532,475 428,872 423,014
Total interest-bearing 1,043,374 1,070,152 1,030,248 889,060 950,519
Total Colorado 1,157,269 1,181,200 1,146,885 1,004,737 1,060,216

Arizona:
Demand 55,975 54,362 39,424 45,725 49,895
Interest-bearing:
Transaction 89,842 66,809 56,985 64,463 73,034
Savings 1,282 970 1,014 1,033 1,233
Time 59,775 54,923 34,290 14,433 6,364
Total interest-bearing 150,899 122,702 92,289 79,929 80,631
Total Arizona 206,874 177,064 131,713 125,654 130,526

Kansas / Missouri:
Demand 9,692 16,140 3,850 5,548 7,157
Interest-bearing:
Transaction 12,907 11,976 10,999 9,780 10,342
Savings 54 117 42 33 26
Time 158,325 141,505 55,656 19,794 51,649
Total interest-bearing 171,286 153,598 66,697 29,607 62,017
Total Kansas / Missouri 180,978 169,738 70,547 35,155 69,174

TOTAL BOK FINANCIAL $ 14,655,389 $ 15,270,421 $ 14,982,607 $ 14,586,183 $ 14,125,716

NET INTEREST MARGIN TREND - UNAUDITED
BOK FINANCIAL CORPORATION
Quarter Ended
June 30, March 31, December 31, September 30, June 30,
2009 2009 2008 2008 2008
TAX-EQUIVALENT ASSETS YIELDS
Trading securities 3.49 % 3.69 % 6.55 % 5.61 % 6.88 %
Funds sold and resell agreements 0.19 % 0.24 % 0.76 % 1.44 % 1.97 %
Securities:
Taxable 4.50 % 4.90 % 5.12 % 5.09 % 5.08 %
Tax-exempt 5.69 % 6.64 % 6.43 % 6.64 % 6.46 %
Total securities 4.54 % 4.96 % 5.17 % 5.15 % 5.14 %
Total loans 4.64 % 4.56 % 5.27 % 5.69 % 5.79 %
Less Allowance for loan losses - - - - -
Total loans, net 4.74 % 4.65 % 5.35 % 5.77 % 5.86 %
Total tax-equivalent yield on earning assets 4.65 % 4.75 % 5.28 % 5.55 % 5.61 %
COST OF INTEREST-BEARING LIABILITIES
Interest-bearing deposits:
Interest-bearing transaction 0.78 % 0.95 % 1.51 % 1.72 % 1.74 %
Savings 0.25 % 0.28 % 0.37 % 0.37 % 0.37 %
Time 2.48 % 2.83 % 3.28 % 3.39 % 3.77 %
Total interest-bearing deposits 1.49 % 1.76 % 2.29 % 2.39 % 2.50 %
Funds purchased and repurchase agreements 0.35 % 0.45 % 0.94 % 1.98 % 1.95 %
Other borrowings 0.49 % 0.58 % 1.51 % 2.56 % 2.49 %
Subordinated debt 5.67 % 5.67 % 5.48 % 5.55 % 5.88 %
Total cost of interest-bearing liabilities 1.31 % 1.50 % 2.02 % 2.41 % 2.47 %
Tax-equivalent net interest revenue spread 3.34 % 3.25 % 3.26 % 3.14 % 3.14 %
Effect of noninterest-bearing funding sources and other 0.21 % 0.22 % 0.31 % 0.34 % 0.30 %
Tax-equivalent net interest margin 3.55 % 3.47 % 3.57 % 3.48 % 3.44 %

CREDIT QUALITY INDICATORS
BOK FINANCIAL CORPORATION
(In thousands, except ratios) Quarter Ended
June 30, March 31, December 31, September 30, June 30,
2009 2009 2008 2008 2008

Nonperforming assets:
Nonaccruing loans (B):
Commercial $ 126,510 $ 128,501 $ 134,846 $ 105,757 $ 69,679
Commercial real estate 189,586 175,487 137,279 78,235 60,456
Residential mortgage 35,860 34,182 27,387 27,075 17,861
Consumer 1,037 1,065 561 758 611
Total nonaccruing loans $ 352,993 $ 339,235 $ 300,073 $ 211,825 $ 148,607
Renegotiated loans (A) 17,479 13,623 13,039 12,326 11,840
Real estate and other repossessed assets 75,243 61,383 29,179 28,088 21,025
Total nonperforming assets $ 445,715 $ 414,241 $ 342,291 $ 252,239 $ 181,472

Nonaccruing loans by principal market (B):
Oklahoma $ 108,490 $ 105,536 $ 108,367 $ 87,885 $ 57,155
Texas 51,582 55,225 42,934 29,141 20,860
New Mexico 29,640 18,046 16,016 12,293 9,838
Arkansas 3,888 4,078 3,263 3,386 2,924
Colorado 45,794 38,567 32,415 20,980 23,812
Arizona 106,076 111,772 80,994 54,832 33,482
Kansas 7,523 6,011 16,084 3,308 536
Total nonaccruing loans $ 352,993 $ 339,235 $ 300,073 $ 211,825 $ 148,607
- - - - -
Nonaccruing loans by loan portfolio sector (B):
Commercial:
Energy $ 53,842 $ 49,618 $ 49,364 $ 49,839 $ 12,342
Manufacturing 16,975 18,248 7,343 6,479 6,731
Wholesale / retail 10,983 8,650 18,773 7,806 3,735
Agriculture 105 115 680 755 811
Services 24,713 30,226 36,873 26,581 30,080
Healthcare 14,222 14,288 12,118 3,300 3,791
Other 5,670 7,356 9,695 10,997 12,189
Total commercial 126,510 128,501 134,846 105,757 69,679
Commercial real estate:
Land development and construction 97,425 99,922 76,082 53,624 45,291
Retail 17,474 9,893 15,625 13,011 7,591
Office 27,685 23,305 7,637 3,022 3,304
Multifamily 27,827 27,198 24,950 896 896
Industrial 527 575 6,287 390 396
Other commercial real estate 18,648 14,594 6,698 7,292 2,978
Total commercial real estate 189,586 175,487 137,279 78,235 60,456
Residential mortgage:
Permanent mortgage 34,149 32,848 26,233 26,401 17,039
Home equity 1,711 1,334 1,154 674 822
Total residential mortgage 35,860 34,182 27,387 27,075 17,861
Consumer 1,037 1,065 561 758 611
Total nonaccruing loans $ 352,993 $ 339,235 $ 300,073 $ 211,825 $ 148,607
- - - - -
Performing loans 90 days past due $ 32,479 $ 46,123 $ 19,123 $ 20,213 $ 10,683

Gross charge-offs $ 37,409 $ 34,535 $ 35,681 $ 33,926 $ 41,526
Recoveries 2,472 2,664 2,022 13,712 2,535
Net charge-offs $ 34,937 $ 31,871 $ 33,659 $ 20,214 $ 38,991

Provision for credit losses $ 47,120 $ 45,040 $ 73,001 $ 52,711 $ 59,310

Reserve for loan losses to period end loans 2.18 % 1.99 % 1.81 % 1.47 % 1.23 %
Combined reserves for credit losses to period end loans 2.27 % 2.07 % 1.93 % 1.65 % 1.41 %
Nonperforming assets to period end loans and repossessed assets
3.67 % 3.26 % 2.65 % 1.98 % 1.45 %
Net charge-offs (annualized) to average loans 1.13 % 1.00 % 1.05 % 0.64 % 1.26 %
Reserve for loan losses to nonaccruing loans 74.59 % 73.99 % 77.73 % 88.05 % 103.64 %
Combined reserves for credit losses to nonaccruing loans 77.55 % 77.11 % 82.78 % 98.69 % 118.81 %

(A) includes residential mortgage loans guaranteed by agencies of the U.S. government. These loans have been modified to extend payment terms and/or reduce interest rates to current market.
$ 11,079 $ 10,514 $ 10,396 $ 9,604 $ 8,638
(B) includes loans subject to First United Bank sellers escrow $ 8,305 $ 11,287 $ 13,181 $ 13,262 $ 11,973

BOK Financial Corporation
Steven Nell, 918-588-6000
Chief Financial Officer
or
Jesse Boudiette, 918-588-6532
Corporate Communications Manager

Copyright Business Wire 2009

http://www.businesswire.com/news/home/20090729005309/en