BOK Financial Reports Quarterly Earnings of $60 Million or $0.88 per Share

http://www.businesswire.com/news/home/20100427005740/en

Credit Quality Indicators Maintain Positive Course
TULSA, Okla.--(Business Wire)--
BOK Financial Corporation (NASDAQ: BOKF) reported net income for the first
quarter of 2010 of $60.1 million or $0.88 per diluted share, up from $42.8
million or $0.63 per diluted share for the fourth quarter of 2009 and $55.0
million or $0.81 per diluted share for the first quarter of 2009. Net income for
the first quarter of 2010 included a $6.5 million or $0.10 per share day-one
gain from the purchase of the rights to service $4.2 billion of residential
mortgage loans on favorable terms.

"BOK Financial is pleased to announce a strong start to 2010," said President
and CEO Stan Lybarger. "Our performance continues to be among the best
performing banks $12 billion and larger in the country. Credit quality
indicators continue to migrate in a positive direction. Total nonperforming
assets are declining and net loans charged off have stabilized in a range
between $34 million and $36 million per quarter for the past four quarters. We
have modestly lowered our quarterly provision for credit losses in each of the
past two quarters."

Highlights of first quarter of 2010 included:

* Net interest revenue totaled $182.6 million compared to $184.5 million for the
fourth quarter of 2009. Net interest margin was 3.68% for the first quarter of
2010 and 3.64% for the fourth quarter of 2009. Average earning assets for the
first quarter of 2010 decreased $23 million from the previous quarter.
* Fees and commissions revenue totaled $115.3 million, down $634 thousand from
the previous quarter. Deposit service charges decreased $2.7 million and
mortgage banking revenue increased $1.5 million.
* Operating expenses, excluding changes in the fair value of mortgage servicing
rights, totaled $177.7 million, down $4.1 million from the prior quarter.
Decreases in mortgage banking costs and most other operating expense categories
were partially offset by higher personnel expenses and net losses and operating
expenses on repossessed assets.
* Combined reserves for credit losses totaled $314 million or 2.86% of
outstanding loans at March 31, 2010, up from $306 million or 2.72% of
outstanding loans at December 31, 2009. Net loans charged off and provision for
credit losses were $34.5 million and $42.1 million, respectively, for the first
quarter of 2010 compared to $35.0 million and $48.6 million, respectively for
the fourth quarter of 2009.
* Nonperforming assets totaled $483 million or 4.36% of outstanding loans and
repossessed assets at March 31, 2010 compared to $484 million or 4.24% of
outstanding loans and repossessed assets at December 31, 2009. Nonaccruing loans
increased $4.2 million and real estate and other repossessed assets decreased
$7.1 million during the first quarter.
* Available for sale securities totaled $8.9 billion at March 31, 2010, up $32
million since December 31, 2009 due primarily to an increase in the fair value
of portfolio. Other-than-temporary impairment charges on certain
privately-issued residential mortgage backed securities reduced pre-tax income
by $4.2 million during the first quarter of 2010 and $14.5 million during the
fourth quarter of 2009.
* Outstanding loan balances were $11.0 billion at March 31, 2010, down $308
million since December 31, 2009 largely due to reduced customer demand and
normal repayment trends. Unfunded loan commitments totaled $4.9 billion at March
31, 2010 and $5.0 billion at December 31, 2009.
* Total period end deposits increased $9.3 million during the first quarter of
2010 to $15.5 billion. Growth in interest-bearing transaction deposits was
offset by a decrease in higher-costing time deposits and a seasonal decrease in
demand deposits.
* Tangible common equity ratio increased to 8.46% at March 31, 2010, from 7.99%
at December 31, 2009, due to an increase in the fair value of the securities
portfolio and retained earnings growth. The tangible common equity ratio is a
non-GAAP measure of capital strength used by the Company and investors based on
shareholders` equity minus intangible assets and equity that does not benefit
common shareholders, such as equity provided by the U.S. Treasury`s Asset Relief
Program ("TARP"). We chose not to participate in the TARP Capital Purchase
Program. The Company`s Tier 1 capital ratios as defined by banking regulations
were 11.45% at March 31, 2010 and 10.86% at December 31, 2009.
* The Company paid a cash dividend of $16.3 million or $0.24 per common share
during the first quarter of 2010. Subject to approval on April 27, 2010, the
board of directors expects to increase the quarterly cash dividend to $0.25 per
common share payable on or about May 28, 2010 to shareholders of record as of
May 14, 2010.

Net Interest Revenue

Net interest revenue totaled $182.6 million for the first quarter of 2010, down
$1.9 million compared to the fourth quarter of 2009. Net interest margin
increased over the previous quarter. However, average earning assets were lower.

Net interest margin was 3.68% for the first quarter of 2010 and 3.64% for the
fourth quarter of 2009. The increase in net interest margin over the previous
quarter resulted primarily from lower funding costs. The yield on average
earning assets decreased 1 basis point. A 9 basis point decrease in the
securities portfolio yield was largely offset by a 7 basis point increase in the
loan portfolio yield. The cost of interest-bearing liabilities decreased 7 basis
points, primarily due to a 9 basis point decrease in the cost of
interest-bearing deposits.

Average earning assets decreased $23 million during the first quarter of 2010.
Average securities increased $346 million, primarily from an increase in the
fair value of securities during the first quarter of 2010 and purchases of
residential mortgage-backed securities issued by U.S. government agencies during
the fourth quarter of 2009. Average outstanding loans decreased $305 million
during the quarter. Average balances of commercial, commercial real estate and
consumer loans were lower compared to the previous quarter. In addition, average
residential mortgage loans held for sale decreased $57 million.

Average deposits decreased $179 million during the first quarter of 2010
primarily due to a $230 million decrease in higher-costing average time deposits
and a seasonal decrease of $181 million in average demand deposits, offset by
growth in average interest-bearing transaction accounts of $229 million.

Fees and Commission Revenue

Fees and commissions revenue decreased to $115.3 million for the first quarter
of 2010 compared to $115.9 million for the fourth quarter of 2009. Deposit
service charges were down $2.7 million and mortgage banking revenue was up $1.5
million over the prior quarter. Overdraft fees decreased $2.6 million compared
to the previous quarter due to a seasonal decrease in transaction volume.
Overdraft volumes historically are lower in the first quarter of each year.
Mortgage servicing revenue increased $2.9 million primarily as a result of
mortgage servicing rights purchased during the first quarter of 2010. Revenue
from mortgage loan sales was down $1.4 million compared to the previous quarter.
Mortgage loans funded were $382 million in the first quarter of 2010 and $560
million in the fourth quarter of 2009. All other sources of fees and commissions
revenue remained largely unchanged.

Operating Expenses

Total operating expenses were $163.7 million for the first quarter of 2010, down
$12.7 million compared to the previous quarter. Excluding changes in the fair
value of mortgage servicing rights, operating expenses totaled $177.7 million,
down $4.1 million compared to the fourth quarter of 2009. Most operating expense
categories were down from the previous quarter. Losses on mortgage loans sold
with recourse, which are included in mortgage banking costs, decreased $2.6
million from the previous quarter.

Reduced operating expenses were partially offset by higher personnel costs and
repossessed asset expenses. Personnel costs increased $3.1 million primarily due
to seasonal increases in payroll taxes. A decrease in salaries and wages from
the previous quarter was offset by an increase in deferred compensation expense
which is directly linked to the market value of Company stock and performance of
other investments. Repossessed asset expenses were up $2.1 million. Net losses
from sales and write-downs of repossessed property increased $2.6 million during
the first quarter of 2010. Operating expenses of repossessed assets were down
$439 thousand.

During the first quarter of 2010, the Company purchased the rights to service
$4.2 billion of residential mortgage loans. The loans to be serviced are
primarily concentrated in the New Mexico market and predominately held by Fannie
Mae, Freddie Mac and Ginnie Mae. The cash purchase price for these servicing
rights was approximately $32 million. The day-one fair value of the servicing
rights purchased, based on independent analyses which were further supported by
assumptions and models we regularly use to value our portfolio of servicing
rights was approximately $11.8 million higher than the purchase price.

Credit Quality

Nonperforming assets decreased $1.0 million during the first quarter of 2010 to
$483 million or 4.36% of outstanding loans and repossessed assets at March 31,
2010. Nonperforming assets at March 31, 2010 consisted of nonaccruing loans of
$344 million, renegotiated loans of $18 million (including $14 million of
residential mortgage loans guaranteed by U.S. government agencies) and $122
million of real estate and other repossessed assets. Nonaccruing loans increased
$4.2 million and repossessed assets decreased $7.1 million during the quarter.

Nonaccruing loans totaled $344 million or 3.13% of outstanding loans at March
31, 2010 compared to $339 million or 3.01% of outstanding loans at December 31,
2009. During the first quarter of 2010, $73 million of new nonaccruing loans
were identified offset by $33 million in payments received, $32 million in
charge-offs and $6 million in foreclosures and repossessions. In addition, $4
million of nonaccruing loans returned to accrual status during the first quarter
of 2010.

Nonaccruing commercial loans totaled $84 million or 1.40% of total commercial
loans at March 31, 2010. At March 31, 2010, nonaccruing commercial loans are
primarily composed of $36 million or 2.04% of total services sector loans, $17
million or 0.91% of total energy sector loans and $11 million or 1.36% of total
healthcare sector loans. Nonaccruing commercial loans decreased $17 million
since December 31, 2009 primarily related to manufacturing, energy, and
wholesale / retail sector loans. Newly identified nonaccruing loans commercial
loans totaled $20 million, offset by $25 million in payments and $10 million in
charge-offs during the first quarter of 2010.

Nonaccruing commercial real estate loans totaled $220 million or 8.99% of
outstanding commercial real estate loans at March 31, 2010. Nonaccruing
commercial real estate loans attributed to our various markets included $65
million or 32% of total commercial real estate loans in Arizona, $57 million or
25% of total commercial real estate loans in Colorado, $39 million or 4.91% of
total commercial real estate loans in Oklahoma and $34 million or 4.39% of total
commercial real estate loans in Texas. Nonaccruing commercial real estate loans
continue to be largely concentrated in land development and residential
construction loans. At March 31, 2010, $141 million or 23% of all land
development and construction loans was nonaccruing. Total nonaccruing commercial
real estate loans increased $15 million since December 31, 2009. Newly
identified nonaccruing commercial real estate loans totaled $53 million,
partially offset by $21 million of charge-offs, $8 million of cash payments
received and $5 million of foreclosures.

Nonaccruing residential mortgage loans totaled $36 million or 2.02% of
outstanding residential mortgage loans at March 31, 2010. The distribution of
nonaccruing residential mortgage loans among our various markets included $14
million or 1.11% of residential mortgage loans in Oklahoma, $10 million or 3.16%
of residential mortgage loans in Texas and $9 million or 13.48% of residential
mortgage loans in Arizona. Nonaccruing residential mortgage loans increased $6.3
million compared to December 31, 2009. Residential mortgage loans past due 30 to
89 days totaled $24 million, down $1.1 million from December 31, 2009.

The combined allowance for credit losses totaled $314 million or 2.86% of
outstanding loans and 91% of non-accruing loans at March 31, 2010. The allowance
for loan losses was $300 million and the reserve for off-balance sheet credit
losses was $14 million. Approximately $125 million of impaired loans, which
consist primarily of nonaccruing commercial and commercial real estate loans,
have been charged-down to the amount management expects to recover and
accordingly have no reserve for loan loss attributed to them. The remaining $186
million of impaired loans have $12 million of the reserve for loan losses
attributed to them. During the first quarter of 2010, the Company recognized a
$42.1 million provision for credit losses. Net losses charged against the
allowance for loan losses totaled $34.5 million or 1.23% annualized of average
outstanding loans.

Real estate and other repossessed assets totaled $122 million at March 31, 2010
consisting of $62 million of 1-4 family residential properties and residential
land development properties, $34 million of developed commercial real estate
properties, $13 million of equity interest received in partial satisfaction of
debts, $7 million of undeveloped land, $4 million of equipment and $1 million of
automobiles. The distribution of real estate owned and other repossessed assets
among various markets included $47 million in Arizona, $24 million in Texas, $21
million in Oklahoma, $11 million in Colorado, $7 million in New Mexico, $6
million in Arkansas and $5 million in Kansas/Missouri. Real estate and other
repossessed assets decreased by $7 million during the first quarter due to
additions of $6 million offset by $7 million in sales and $6 million in
write-downs based on updated appraisals.

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 $324 million at March 31, 2010, down from $331 million at December
31, 2009. The loans are primarily to borrowers in our primary market areas,
including $228 million in Oklahoma, $35 million in Arkansas, $18 million in New
Mexico, $16 million in Kansas/Missouri and $15 million in Texas. At March 31,
2010, approximately 5% of these loans are non-performing and 4% were past due 30
to 89 days. A separate reserve for credit risk of $14 million is available for
losses on these loans.

Securities and Derivatives

The fair value of available for sale securities totaled $8.9 billion at March
31, 2010, up $32 million since December 31, 2009. The available for sale
portfolio consisted primarily of residential mortgage-backed securities,
including $7.9 billion fully backed by U.S. government agencies and $766 million
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 portfolio of available for sale securities had net unrealized gains of $108
million at March 31, 2010 compared to net unrealized gains of $13 million at
December 31, 2009. Net unrealized gains on residential mortgage-backed
securities issued by U.S. government agencies increased $66 million during the
first quarter to $230 million at March 31, 2010. Net unrealized losses on
privately-issued residential mortgage-backed securities decreased $25 million to
$144 million at March 31, 2010.

The amortized cost of privately-issued residential mortgage-backed securities
totaled $910 million at March 31, 2010, down $52 million since December 31, 2009
due primarily to cash received. Approximately $593 million of the privately
issued residential mortgage-backed securities were rated below investment grade
by at least one nationally-recognized rating agency. The aggregate unrealized
losses on privately-issued residential mortgage-backed securities rated below
investment grade totaled $120 million at March 31, 2010. Aggregate unrealized
losses on these same below investment grade securities were $135 million at
December 31, 2009. The Company recognized a $4.2 million other-than-temporary
impairment charge against earnings in the first quarter related to these
securities due to further declines in projected cash flows as a result of
worsening trends in delinquencies and foreclosures.

The Company added $70 million to its investment (held-to-maturity) securities
portfolio during the first quarter of 2010 comprised primarily of qualifying
school construction bonds. These bonds were issued with the Company`s assistance
by several school districts in our Texas markets under a program authorized by
the U.S. Treasury Department. Interest on these bonds is payable through federal
income tax credits.

Net realized gains on securities totaled $4.5 million for the first quarter of
2010, compared with $7.3 million for the fourth quarter of 2009 and $20.1
million for the first quarter of 2009.

Three Months Ended
March 31, 2010 Dec. 31, 2009 March 31, 2009

Net gain on available for sale securities $ 4,076 $ 11,717 $ 22,226
Gain (loss) on mortgage hedge securities 448 (4,440 ) (2,118 )
Net gain on securities $ 4,524 $ 7,277 $ 20,108

Gain (loss) on change in fair value of mortgage servicing rights $ 2,100 (1 ) $ 5,285 $ 1,955

(1) Excluding $11.8 million day-one gain on the purchase of mortgage servicing
rights.

The Company recognized $4.1 million of gains on the sale of $286 million of
available for sale securities in the first quarter of 2010 and $11.7 million of
gains on the sale of $765 million of available for sale securities in the fourth
quarter of 2009. Securities were sold either to mitigate extension exposure from
rising interest rates or because they had reached their expected maximum
potential total return.

The Company has a portfolio of derivative contracts held for customer risk
management programs and internal interest rate risk management programs. At
March 31, 2010, the fair value of all asset contracts totaled $325 million, net
of cash margin held by the Company. The largest net amount due from a single
counterparty, a subsidiary of an international energy company, to these
contracts at March 31 was $89 million. Letters of credit issued by independent
financial institutions offset $68 million of this amount.

Loans, Deposits and Capital

Outstanding loans at March 31, 2010 were $11.0 billion, down $308 million from
December 31, 2009. Loan balances were lower across most sectors of the loan
portfolio and markets.

Outstanding commercial loans totaled $6.0 billion at March 31, 2010, down $193
million at December 31, 2009. The decrease in outstanding balances is due to
reduced customer demand in response to current economic conditions and normal
repayment trends. Outstanding commercial loans decreased across all sectors of
the portfolio including a $66 million decrease in services sector loans, a $49
million decrease in wholesale/retail sector loans and a $31 million decrease in
other commercial and industrial loans. Total unfunded commercial loan
commitments decreased $12 million to $4.3 billion. Unfunded energy loan
commitments increased $10 million to $1.9 billion. All other unfunded commercial
loan commitments decreased $22 million.

Outstanding commercial real estate loans decreased $48 million compared to the
prior quarter, primarily due to a $46 million decrease in other real estate
loans, a $40 million decrease in residential construction and land development
loans and a $14 million decrease in loan secured by retail facilities. Loans
secured by industrial properties increased $34 million and loans secured by
multifamily properties increased $17 million. Unfunded commercial real estate
loan commitments decreased $42 million to $156 million as existing commitments
continue to mature.

Residential mortgage loans increased $4.1 million from the prior quarter
primarily due to a $3.8 million increase in home equity loans. Consumer loans
decreased $72 million compared to the prior quarter primarily due to a $58
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 increased $9.3 million during the first quarter and totaled $15.5
billion at March 31, 2010. Interest-bearing deposits increased $163 million,
offset by a $114 million decrease in time deposit balances and a $54 million
seasonal decrease in demand deposit balances. The Company continued to decrease
brokered deposits and other higher cost certificates of deposit. Among the lines
of business, commercial and consumer deposits increased $85 million and $52
million, respectively, offset by a $41 million decrease in wealth management
deposits.

The Company and each of its subsidiary banks exceeded the regulatory definition
of well capitalized at March 31, 2010. The Company`s Tier 1 and total capital
ratios were 11.45% and 15.09%, respectively, at March 31, 2010. The Company`s
Tier 1 and total capital ratios were 10.86% and 14.43%, respectively, at
December 31, 2009. In addition the Company`s tangible common equity ratio, a
non-GAAP measure, was 8.46% at March 31, 2010 and 7.99% at December 31, 2009.

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
March 31, 2010 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
March 31, December 31, March 31,
2010 2009 2009
(Unaudited) (Unaudited)
ASSETS
Cash and due from banks $ 902,575 $ 875,250 $ 686,976
Trading securities 115,641 65,354 128,179
Funds sold and resell agreements 29,410 45,966 27,197
Securities:
Available for sale 8,904,395 8,872,023 6,991,803
Investment 309,910 240,405 251,848
Mortgage trading securities 427,196 285,950 454,493
Total securities 9,641,501 9,398,378 7,698,144
Residential mortgage loans held for sale 178,362 217,826 245,791
Loans:
Commercial 6,014,739 6,207,840 7,101,530
Commercial real estate 2,443,848 2,491,434 2,732,081
Residential mortgage 1,797,711 1,793,622 1,819,950
Consumer 714,926 786,802 986,355
Total loans 10,971,224 11,279,698 12,639,916
Less reserve for loan losses (299,717 ) (292,095 ) (251,002 )
Loans, net of reserve 10,671,507 10,987,603 12,388,914
Premises and equipment, net 279,152 280,260 281,300
Accrued revenue receivable 107,300 108,822 104,205
Goodwill 335,601 335,601 335,829
Intangible assets, net 17,315 18,638 23,694
Mortgage servicing rights, net 119,066 73,824 50,246
Real estate and other repossessed assets 121,933 129,034 61,383
Bankers' acceptances 2,945 3,869 9,316
Derivative contracts 325,364 343,782 551,316
Cash surrender value of bank-owned life insurance 248,927 247,357 239,348
Other assets 405,377 385,267 501,604
TOTAL ASSETS $ 23,501,976 $ 23,516,831 $ 23,333,442

LIABILITIES AND EQUITY
Deposits:
Demand $ 3,599,981 $ 3,653,844 $ 3,050,896
Interest-bearing transaction 8,093,725 7,930,439 6,627,222
Savings 179,554 165,952 168,644
Time 3,654,256 3,767,993 5,423,659
Total deposits 15,527,516 15,518,228 15,270,421
Funds purchased and repurchase agreements 2,638,263 2,471,743 2,217,081
Other borrowings 1,909,934 2,133,357 2,276,430
Subordinated debentures 398,578 398,539 398,443
Accrued interest, taxes, and expense 117,179 111,880 146,111
Bankers' acceptances 2,945 3,869 9,316
Due on unsettled securities trades 103,186 212,335 311,133
Derivative contracts 311,685 308,360 640,275
Other liabilities 159,973 133,146 118,181
TOTAL LIABILITIES 21,169,259 21,291,457 21,387,391
Shareholders' equity:
Capital, surplus and retained earnings 2,264,786 2,216,553 2,111,823
Accumulated other comprehensive income (loss) 47,657 (10,740 ) (180,523 )
TOTAL SHAREHOLDERS' EQUITY 2,312,443 2,205,813 1,931,300
Non-controlling interest 20,274 19,561 14,751
TOTAL EQUITY 2,332,717 2,225,374 1,946,051
TOTAL LIABILITIES AND EQUITY $ 23,501,976 $ 23,516,831 $ 23,333,442

AVERAGE BALANCE SHEETS - UNAUDITED
BOK FINANCIAL CORPORATION
(In thousands)

Quarter Ended
March 31, December 31, September 30, June 30, March 31,
2010 2009 2009 2009 2009

ASSETS
Trading securities $ 70,979 $ 68,027 $ 64,763 $ 112,960 $ 111,962
Funds sold and resell agreements 32,363 30,358 67,032 29,277 50,701
Securities:
Available for sale 8,884,678 8,583,032 7,782,254 7,242,931 6,645,086
Investment 256,003 238,479 235,967 271,068 238,562
Mortgage trading securities 366,845 340,456 267,591 365,434 453,304
Total securities 9,507,526 9,161,967 8,285,812 7,879,433 7,336,952
Residential mortgage loans held for sale 137,404 194,760 176,403 286,077 201,135
Loans:
Commercial 6,132,889 6,325,580 6,521,438 6,901,057 7,182,481
Commercial real estate 2,492,535 2,538,737 2,621,176 2,684,020 2,762,789
Residential mortgage 1,833,602 1,827,339 1,873,457 1,884,023 1,841,006
Consumer 728,294 801,040 871,347 933,950 998,489
Total loans 11,187,320 11,492,696 11,887,418 12,403,050 12,784,765
Less allowance for loan losses (309,194 ) (298,157 ) (281,289 ) (273,335 ) (252,734 )
Total loans, net 10,878,126 11,194,539 11,606,129 12,129,715 12,532,031
Total earning assets 20,626,398 20,649,651 20,200,139 20,437,462 20,232,781
Cash and due from banks 1,089,971 1,095,087 828,965 638,791 661,433
Cash surrender value of bank-owned life insurance 247,415 245,460 242,715 240,199 237,805
Derivative contracts 300,865 352,143 401,887 493,448 476,091
Other assets 1,448,098 1,353,393 1,376,828 1,264,131 1,335,259
TOTAL ASSETS $ 23,712,747 $ 23,695,734 $ 23,050,534 $ 23,074,031 $ 22,943,369

LIABILITIES AND EQUITY
Deposits:
Demand $ 3,485,504 $ 3,666,663 $ 3,392,578 $ 3,183,338 $ 2,864,751
Interest-bearing transaction 7,963,752 7,734,678 7,162,477 6,854,003 6,610,805
Savings 170,990 167,572 167,677 167,813 159,537
Time 3,772,295 4,002,337 4,404,854 5,123,947 5,215,091
Total deposits 15,392,541 15,571,250 15,127,586 15,329,101 14,850,184
Funds purchased and repurchase agreements 2,575,286 2,173,476 2,284,985 2,316,990 2,562,066
Other borrowings 2,249,470 2,380,938 2,173,103 1,951,699 2,158,963
Subordinated debentures 398,559 398,522 398,484 398,456 398,425
Derivative contracts 276,696 318,809 392,277 536,232 641,974
Other liabilities 521,567 605,994 539,129 534,889 416,242
TOTAL LIABILITIES 21,414,119 21,448,989 20,915,564 21,067,367 21,027,854
Total equity 2,298,628 2,246,745 2,134,970 2,006,664 1,915,515
TOTAL LIABILITIES AND EQUITY $ 23,712,747 $ 23,695,734 $ 23,050,534 $ 23,074,031 $ 22,943,369

STATEMENTS OF EARNINGS - UNAUDITED
BOK FINANCIAL CORPORATION
(In thousands, except per share data)

Quarter Ended
March 31,
2010 2009

Interest revenue $ 219,370 $ 233,227
Interest expense 36,796 63,382
Net interest revenue 182,574 169,845
Provision for credit losses 42,100 45,040
Net interest revenue after provision for credit losses 140,474 124,805

Other operating revenue
Brokerage and trading revenue 21,035 24,699
Transaction card revenue 25,687 25,428
Trust fees and commissions 16,320 16,510
Deposit service charges and fees 26,792 27,405
Mortgage banking revenue 14,871 18,498
Bank-owned life insurance 2,972 2,317
Margin asset fees 36 67
Other revenue 7,602 6,583
Total fees and commissions 115,315 121,507
Gain (loss) on other assets (1,390 ) 143
Gain (loss) on derivatives, net (341 ) (1,664 )
Gain (loss) on securities, net 4,524 20,108
Total other-than-temporary impairment losses (9,708 ) (54,368 )
Portion of loss recognized in other comprehensive income (5,483 ) (39,366 )
Net impairment losses recognized in earnings (4,225 ) (15,002 )
Total other operating revenue 113,883 125,092

Other operating expense
Personnel 96,824 92,627
Business promotion 3,978 4,428
Professional fees and services 6,401 6,512
Net occupancy and equipment 15,511 16,258
Insurance 6,533 5,638
Data processing and communications 20,309 19,306
Printing, postage and supplies 3,322 4,571
Net (gains) losses and operating expenses of repossessed assets 7,220 1,806
Amortization of intangible assets 1,324 1,686
Mortgage banking costs 9,267 7,467
Change in fair value of mortgage servicing rights (13,932 ) (1,955 )
Other expense 6,975 7,450
Total other operating expense 163,732 165,794

Net income before taxes 90,625 84,103
Federal and state income taxes 30,283 28,838

Net income before non-controlling interest 60,342 55,265
Net income (loss) attributable to non-controlling interest 209 233

Net income attributable to BOK Financial Corporation $ 60,133 $ 55,032

Average shares outstanding:
Basic 67,592,315 67,315,986
Diluted 67,790,049 67,387,102

Net income per share:
Basic $ 0.88 $ 0.81
Diluted $ 0.88 $ 0.81

FINANCIAL HIGHLIGHTS - UNAUDITED
BOK FINANCIAL CORPORATION
(In thousands, except ratio and share data)
Quarter Ended
March 31, December 31, September 30, June 30, March 31,
2010 2009 2009 2009 2009

Capital:
Period-end shareholders' equity $ 2,312,443 $ 2,205,813 $ 2,185,013 $ 2,050,572 $ 1,931,300
Risk weighted assets $ 16,787,566 $ 17,275,808 $ 17,515,147 $ 18,338,540 $ 18,355,862
Risk-based capital ratios:
Tier 1 11.45 % 10.86 % 10.56 % 9.86 % 9.66 %
Total capital 15.09 % 14.43 % 14.10 % 13.34 % 13.08 %
Leverage ratio 8.25 % 8.05 % 8.16 % 7.97 % 7.85 %
Tangible common equity ratio (A) 8.46 % 7.99 % 7.78 % 7.55 % 6.84 %
Tier 1 common equity ratio (B) 11.33 % 10.75 % 10.45 % 9.77 % 9.58 %

Common stock:
Book value per share $ 33.99 $ 32.53 $ 32.27 $ 30.30 $ 28.57

Market value per share:
High $ 53.11 $ 47.91 $ 48.10 $ 43.02 $ 40.71
Low $ 45.43 $ 41.87 $ 34.81 $ 34.46 $ 22.95

Cash dividends paid $ 16,304 $ 16,201 $ 16,280 $ 16,184 $ 15,027
Dividend payout ratio 27.11 % 37.88 % 32.14 % 31.05 % 27.31 %
Shares outstanding, net 68,042,918 67,802,807 67,707,547 67,674,442 67,589,045
Stock buy-back program:
Shares repurchased - - - - -
Amount $ - $ - $ - $ - $ -
Average price per share $ - $ - $ - $ - $ -

Performance ratios (quarter annualized):
Return on average assets 1.03 % 0.72 % 0.87 % 0.91 % 0.97 %
Return on average equity 10.61 % 7.55 % 9.41 % 10.42 % 11.65 %
Net interest margin 3.68 % 3.64 % 3.63 % 3.55 % 3.47 %
Efficiency ratio 59.11 % 60.02 % 58.09 % 61.02 % 57.10 %

Other data:
Gain (loss) on economic hedge of mortgage servicing rights $ (211 ) $ (4,440 ) $ 3,560 $ (10,199 ) $ (2,118 )
Trust assets $ 30,739,254 $ 30,385,365 $ 29,945,585 $ 29,288,041 $ 28,700,791
Mortgage servicing portfolio $ 10,895,182 $ 6,603,132 $ 6,339,764 $ 6,082,501 $ 5,515,893
Mortgage loan fundings during the quarter $ 382,028 $ 560,254 $ 536,173 $ 1,023,272 $ 708,561
Mortgage loan refinances to total fundings 55.00 % 47.00 % 49.00 % 71.00 % 73.51 %
Tax equivalent adjustment $ 2,416 $ 2,196 $ 1,982 $ 1,791 $ 2,105
Unrealized gain (loss) on available for sale securities $ 107,754 $ 13,226 $ 30,898 $ (128,492 ) $ (261,856 )

(A) Tangible common equity ratio is a non-GAAP measure.
Reconciliation to a GAAP financial measure follows:
Total shareholders' equity $ 2,312,443 $ 2,205,813 $ 2,185,013 $ 2,050,572 $ 1,931,300
Less: intangible assets, net (352,916 ) (354,239 ) (356,152 ) (357,838 ) (359,523 )
Tangible common equity $ 1,959,527 $ 1,851,574 $ 1,828,861 $ 1,692,734 $ 1,571,777

Total assets $ 23,501,976 $ 23,516,831 $ 23,876,841 $ 22,768,319 $ 23,333,442
Less: intangible assets, net (352,916 ) (354,239 ) (356,152 ) (357,838 ) (359,523 )
$ 23,149,060 $ 23,162,592 $ 23,520,689 $ 22,410,481 $ 22,973,919

Tangible common equity ratio 8.46 % 7.99 % 7.78 % 7.55 % 6.84 %

(B) Tier 1 common equity ratio is a non-GAAP measure.
Reconciliation to a GAAP financial measure follows:
Tier 1 capital $ 1,922,783 $ 1,876,778 $ 1,849,254 $ 1,807,705 $ 1,773,576
Less: non-controlling interest (20,274 ) (19,561 ) (18,981 ) (15,590 ) (14,751 )
Tier 1 common equity $ 1,902,509 $ 1,857,217 $ 1,830,273 $ 1,792,115 $ 1,758,825

Risk weighted assets $ 16,787,566 $ 17,275,808 $ 17,515,147 $ 18,338,540 $ 18,355,862

Tier 1 common equity ratio 11.33 % 10.75 % 10.45 % 9.77 % 9.58 %

QUARTERLY EARNINGS TRENDS - UNAUDITED
BOK FINANCIAL CORPORATION
(In thousands, except ratio and per share data)

Quarter Ended
March 31, December 31, September 30, June 30, March 31,
2010 2009 2009 2009 2009

Interest revenue $ 219,370 $ 224,411 $ 226,246 $ 230,685 $ 233,227
Interest expense 36,796 39,933 45,785 55,105 63,382
Net interest revenue 182,574 184,478 180,461 175,580 169,845
Provision for credit losses 42,100 48,620 55,120 47,120 45,040
Net interest revenue after provision for credit losses 140,474 135,858 125,341 128,460 124,805

Other operating revenue
Brokerage and trading revenue 21,035 20,240 24,944 21,794 24,699
Transaction card revenue 25,687 26,292 26,264 27,533 25,428
Trust fees and commissions 16,320 16,492 16,315 16,860 16,510
Deposit service charges and fees 26,792 29,501 30,464 28,421 27,405
Mortgage banking revenue 14,871 13,403 13,197 19,882 18,498
Bank-owned life insurance 2,972 2,870 2,634 2,418 2,317
Margin asset fees 36 50 51 68 67
Other revenue 7,602 7,101 6,087 6,124 6,583
Total fees and commissions 115,315 115,949 119,956 123,100 121,507
Gain (loss) on other assets (1,390 ) (205 ) 3,223 973 143
Gain (loss) on derivatives, net (341 ) (370 ) (294 ) (1,037 ) (1,664 )
Gain (loss) on securities, net 4,524 7,277 12,266 6,471 20,108
Total other-than-temporary impairment losses (9,708 ) (67,390 ) (6,133 ) (1,263 ) (54,368 )
Portion of loss recognized in other comprehensive income (5,483 ) (52,902 ) (2,752 ) 279 (39,366 )
Net impairment losses recognized in earnings (4,225 ) (14,488 ) (3,381 ) (1,542 ) (15,002 )
Total other operating revenue 113,883 108,163 131,770 127,965 125,092

Other operating expense
Personnel 96,824 93,687 98,012 96,191 92,627
Business promotion 3,978 5,758 4,827 4,569 4,428
Professional fees and services 6,401 8,813 7,555 7,363 6,512
Net occupancy and equipment 15,511 17,600 15,884 15,973 16,258
Insurance 6,533 6,412 6,092 5,898 5,638
FDIC special assessment - - - 11,773 -
Data processing and communications 20,309 21,121 20,413 20,452 19,306
Printing, postage and supplies 3,322 3,601 3,716 4,072 4,571
Net (gains) losses and operating expenses of repossessed assets 7,220 5,101 3,497 996 1,806
Amortization of intangible assets 1,324 1,912 1,686 1,686 1,686
Mortgage banking costs 9,267 11,436 8,065 9,336 7,467
Change in fair value of mortgage servicing rights (13,932 ) (5,285 ) 2,981 (7,865 ) (1,955 )
Other expense 6,975 6,281 6,004 5,326 7,450
Total other operating expense 163,732 176,437 178,732 175,770 165,794

Net income before taxes 90,625 67,584 78,379 80,655 84,103
Federal and state income taxes 30,283 24,780 24,772 28,315 28,838

Net income before non-controlling interest 60,342 42,804 53,607 52,340 55,265
Net income (loss) attributable to non-controlling interest 209 33 2,947 225 233

Net income attributable to BOK Financial Corporation $ 60,133 $ 42,771 $ 50,660 $ 52,115 $ 55,032

Average shares outstanding:
Basic 67,592,315 67,446,326 67,392,059 67,344,577 67,315,986
Diluted 67,790,049 67,600,344 67,513,700 67,448,029 67,387,102

Net income per share:
Basic $ 0.88 $ 0.63 $ 0.75 $ 0.77 $ 0.81
Diluted $ 0.88 $ 0.63 $ 0.75 $ 0.77 $ 0.81

LOANS BY PRINCIPAL MARKET AREA - UNAUDITED
BOK FINANCIAL CORPORATION
(In thousands)

Quarter Ended
March 31, December 31, September 30, June 30, March 31,
2010 2009 2009 2009 2009

Oklahoma:
Commercial $ 2,616,086 $ 2,649,252 $ 2,738,217 $ 2,918,478 $ 3,119,362
Commercial real estate 787,543 820,578 815,362 855,742 881,620
Residential mortgage 1,235,788 1,228,822 1,245,917 1,249,104 1,234,417
Consumer 404,570 451,829 483,369 521,431 562,021
Total Oklahoma 5,043,987 5,150,481 5,282,865 5,544,755 5,797,420

Texas:
Commercial 1,935,819 2,017,081 2,075,379 2,182,756 2,277,186
Commercial real estate 769,682 735,338 734,742 741,199 816,830
Residential mortgage 307,643 313,113 335,797 345,780 337,044
Consumer 160,449 170,062 188,374 196,752 214,134
Total Texas 3,173,593 3,235,594 3,334,292 3,466,487 3,645,194

New Mexico:
Commercial 326,203 341,802 344,910 380,378 393,180
Commercial real estate 298,197 305,061 344,988 313,190 315,511
Residential mortgage 85,629 86,415 88,271 90,944 99,805
Consumer 16,713 17,473 18,176 18,826 19,900
Total New Mexico 726,742 750,751 796,345 803,338 828,396

Arkansas:
Commercial 86,566 103,443 99,559 97,676 99,955
Commercial real estate 129,125 132,436 128,984 133,026 133,227
Residential mortgage 17,071 16,849 19,128 19,015 17,145
Consumer 110,123 124,265 136,461 152,620 168,971
Total Arkansas 342,885 376,993 384,132 402,337 419,298

Colorado:
Commercial 495,916 545,724 569,549 595,858 675,223
Commercial real estate 228,998 239,970 249,879 269,923 267,035
Residential mortgage 68,049 66,504 68,667 58,557 59,120
Consumer 17,991 17,362 18,272 14,097 14,599
Total Colorado 810,954 869,560 906,367 938,435 1,015,977

Arizona:
Commercial 209,019 199,143 219,330 215,540 211,953
Commercial real estate 202,192 227,249 257,169 262,607 285,841
Residential mortgage 68,015 65,047 57,304 58,265 61,605
Consumer 3,068 3,461 4,826 3,229 5,261
Total Arizona 482,294 494,900 538,629 539,641 564,660

Kansas:
Commercial 345,130 351,395 323,112 325,165 324,671
Commercial real estate 28,111 30,802 29,211 36,006 32,017
Residential mortgage 15,516 16,872 14,740 12,310 10,814
Consumer 2,012 2,350 1,871 1,454 1,469
Total Kansas 390,769 401,419 368,934 374,935 368,971

TOTAL BOK FINANCIAL $ 10,971,224 $ 11,279,698 $ 11,611,564 $ 12,069,928 $ 12,639,916

DEPOSITS BY PRINCIPAL MARKET AREA - UNAUDITED
BOK FINANCIAL CORPORATION
(In thousands)

Quarter Ended
March 31, December 31, September 30, June 30, March 31,
2010 2009 2009 2009 2009

Oklahoma:
Demand $ 2,062,084 $ 2,068,908 $ 1,895,980 $ 1,451,057 $ 1,651,111
Interest-bearing:
Transaction 5,237,983 5,134,902 4,566,058 4,374,089 4,089,838
Savings 101,708 93,006 93,443 94,048 95,827
Time 1,360,756 1,397,240 1,765,980 2,033,312 2,876,313
Total interest-bearing 6,700,447 6,625,148 6,425,481 6,501,449 7,061,978
Total Oklahoma 8,762,531 8,694,056 8,321,461 7,952,506 8,713,089

Texas:
Demand 1,068,656 1,108,401 1,138,794 1,002,266 1,021,424
Interest-bearing:
Transaction 1,675,759 1,748,319 1,716,460 1,660,642 1,527,399
Savings 37,175 35,129 35,724 33,992 33,867
Time 1,043,813 1,100,602 1,007,579 1,035,919 1,054,632
Total interest-bearing 2,756,747 2,884,050 2,759,763 2,730,553 2,615,898
Total Texas 3,825,403 3,992,451 3,898,557 3,732,819 3,637,322

New Mexico:
Demand 222,685 209,090 216,330 175,033 180,308
Interest-bearing:
Transaction 480,189 444,247 424,528 434,498 401,000
Savings 20,036 17,563 18,039 18,255 17,858
Time 495,243 510,202 511,507 542,388 561,300
Total interest-bearing 995,468 972,012 954,074 995,141 980,158
Total New Mexico 1,218,153 1,181,102 1,170,404 1,170,174 1,160,466

Arkansas:
Demand 17,599 21,526 19,077 17,261 16,503
Interest-bearing:
Transaction 61,398 50,879 85,061 73,972 63,924
Savings 1,266 1,346 1,131 1,031 1,100
Time 105,794 101,839 137,109 162,505 150,015
Total interest-bearing 168,458 154,064 223,301 237,508 215,039
Total Arkansas 186,057 175,590 242,378 254,769 231,542

Colorado:
Demand 136,048 146,929 121,555 113,895 111,048
Interest-bearing:
Transaction 456,508 448,846 477,418 445,521 466,276
Savings 18,118 17,802 18,518 18,144 18,905
Time 509,410 525,844 520,906 579,709 584,971
Total interest-bearing 984,036 992,492 1,016,842 1,043,374 1,070,152
Total Colorado 1,120,084 1,139,421 1,138,397 1,157,269 1,181,200

Arizona:
Demand 61,183 68,651 54,046 55,975 54,362
Interest-bearing:
Transaction 81,851 81,909 95,242 89,842 66,809
Savings 1,105 958 971 1,282 970
Time 64,592 60,768 56,809 59,775 54,923
Total interest-bearing 147,548 143,635 153,022 150,899 122,702
Total Arizona 208,731 212,286 207,068 206,874 177,064

Kansas / Missouri:
Demand 31,726 30,339 16,406 9,692 16,140
Interest-bearing:
Transaction 100,037 21,337 15,682 12,907 11,976
Savings 146 148 70 54 117
Time 74,648 71,498 84,923 158,325 141,505
Total interest-bearing 174,831 92,983 100,675 171,286 153,598
Total Kansas / Missouri 206,557 123,322 117,081 180,978 169,738

TOTAL BOK FINANCIAL $ 15,527,516 $ 15,518,228 $ 15,095,346 $ 14,655,389 $ 15,270,421

NET INTEREST MARGIN TREND - UNAUDITED
BOK FINANCIAL CORPORATION

Quarter Ended
March 31, December 31, September 30, June 30, March 31,
2010 2009 2009 2009 2009
TAX-EQUIVALENT ASSETS YIELDS
Trading securities 4.53 % 5.41 % 4.72 % 3.49 % 3.69 %
Funds sold and resell agreements 0.10 % 0.21 % 0.11 % 0.19 % 0.24 %
Securities:
Taxable 3.73 % 3.83 % 4.18 % 4.50 % 4.90 %
Tax-exempt 5.28 % 5.16 % 5.03 % 5.69 % 6.64 %
Total securities 3.78 % 3.87 % 4.21 % 4.54 % 4.96 %
Residential mortgage loans held for sale 5.16 % 4.71 % 4.94 % 4.51 % 4.79 %
Loans 4.81 % 4.74 % 4.67 % 4.64 % 4.56 %
Less reserve for loan losses - - - - -
Loans, net of reserve 4.95 % 4.86 % 4.78 % 4.75 % 4.65 %
Total tax-equivalent yield on earning assets 4.41 % 4.42 % 4.54 % 4.65 % 4.75 %
COST OF INTEREST-BEARING LIABILITIES
Interest-bearing deposits:
Interest-bearing transaction 0.52 % 0.57 % 0.65 % 0.78 % 0.95 %
Savings 0.42 % 0.47 % 0.48 % 0.25 % 0.28 %
Time 1.86 % 1.95 % 2.20 % 2.48 % 2.83 %
Total interest-bearing deposits 0.94 % 1.03 % 1.23 % 1.49 % 1.76 %
Funds purchased and repurchase agreements 0.32 % 0.30 % 0.32 % 0.35 % 0.45 %
Other borrowings 0.29 % 0.29 % 0.38 % 0.49 % 0.58 %
Subordinated debt 5.66 % 5.52 % 5.53 % 5.67 % 5.67 %
Total cost of interest-bearing liabilities 0.87 % 0.94 % 1.09 % 1.31 % 1.50 %
Tax-equivalent net interest revenue spread 3.54 % 3.48 % 3.45 % 3.34 % 3.25 %
Effect of noninterest-bearing funding sources and other 0.14 % 0.16 % 0.18 % 0.21 % 0.22 %
Tax-equivalent net interest margin 3.68 % 3.64 % 3.63 % 3.55 % 3.47 %

CREDIT QUALITY INDICATORS
BOK FINANCIAL CORPORATION
(In thousands, except ratios)

Quarter Ended
March 31, December 31, September 30, June 30, March 31,
2010 2009 2009 2009 2009

Nonperforming assets:
Nonaccruing loans (B):
Commercial $ 84,491 $ 101,384 $ 128,266 $ 126,510 $ 128,501
Commercial real estate 219,639 204,924 212,418 189,586 175,487
Residential mortgage 36,281 29,989 38,220 35,860 34,182
Consumer 3,164 3,058 3,897 1,037 1,065
Total nonaccruing loans $ 343,575 $ 339,355 $ 382,801 $ 352,993 $ 339,235
Renegotiated loans (A) 17,763 15,906 17,426 17,479 13,623
Real estate and other repossessed assets 121,933 129,034 89,507 75,243 61,383
Total nonperforming assets $ 483,271 $ 484,295 $ 489,734 $ 445,715 $ 414,241

Nonaccruing loans by principal market (B):
Oklahoma $ 89,512 $ 83,176 $ 112,610 $ 108,490 $ 105,536
Texas 61,839 66,892 65,911 51,582 55,225
New Mexico 23,572 26,693 35,541 29,640 18,046
Arkansas 15,206 13,820 5,911 3,888 4,078
Colorado 66,990 60,082 50,432 45,794 38,567
Arizona 85,808 84,559 108,161 106,076 111,772
Kansas 648 4,133 4,235 7,523 6,011
Total nonaccruing loans $ 343,575 $ 339,355 $ 382,801 $ 352,993 $ 339,235
- - - - -
Nonaccruing loans by loan portfolio sector (B):
Commercial:
Energy $ 17,182 $ 22,692 $ 48,992 $ 53,842 $ 49,618
Manufacturing 4,834 15,765 17,429 16,975 18,248
Wholesale / retail 6,629 12,057 7,623 10,983 8,650
Agriculture 65 65 98 105 115
Services 35,535 30,926 30,094 24,713 30,226
Healthcare 10,538 13,103 13,758 14,222 14,288
Other 9,708 6,776 10,272 5,670 7,356
Total commercial 84,491 101,384 128,266 126,510 128,501
Commercial real estate:
Land development and construction 140,508 109,779 113,868 97,425 99,922
Retail 14,843 26,236 22,254 17,474 9,893
Office 26,660 25,861 31,406 27,685 23,305
Multifamily 15,725 26,540 28,223 27,827 27,198
Industrial - 279 527 527 575
Other commercial real estate 21,903 16,229 16,140 18,648 14,594
Total commercial real estate 219,639 204,924 212,418 189,586 175,487
Residential mortgage:
Permanent mortgage 34,134 28,314 36,431 34,149 32,848
Home equity 2,147 1,675 1,789 1,711 1,334
Total residential mortgage 36,281 29,989 38,220 35,860 34,182
Consumer 3,164 3,058 3,897 1,037 1,065
Total nonaccruing loans $ 343,575 $ 339,355 $ 382,801 $ 352,993 $ 339,235
- - - - -
Performing loans 90 days past due $ 12,915 $ 10,308 $ 24,238 $ 32,479 $ 46,123

Gross charge-offs $ 40,328 $ 37,974 $ 38,581 $ 37,409 $ 34,535
Recoveries 5,850 2,950 2,594 2,472 2,664
Net charge-offs $ 34,478 $ 35,024 $ 35,987 $ 34,937 $ 31,871

Provision for credit losses $ 42,100 $ 48,620 $ 55,120 $ 47,120 $ 45,040

Reserve for loan losses to period end loans 2.73 % 2.59 % 2.42 % 2.18 % 1.99 %
Combined reserves for credit losses to period end loans 2.86 % 2.72 % 2.52 % 2.27 % 2.07 %
Nonperforming assets to period end loans and repossessed assets 4.36 % 4.24 % 4.19 % 3.67 % 3.26 %
Net charge-offs (annualized) to average loans 1.23 % 1.22 % 1.21 % 1.13 % 1.00 %
Reserve for loan losses to nonaccruing loans 87.23 % 86.07 % 73.38 % 74.59 % 73.99 %
Combined reserves for credit losses to nonaccruing loans 91.42 % 90.31 % 76.51 % 77.55 % 77.11 %

(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. $ 14,083 $ 12,799 $ 11,234 $ 11,079 $ 10,514
(B) includes loans subject to First United Bank sellers escrow $ 4,281 $ 4,311 $ 4,173 $ 8,305 $ 11,287

BOK Financial Corporation
Steven Nell, 918-588-6752
Chief Financial Officer
or
Jesse Boudiette, 918-588-6532
Corporate Communications Director

Copyright Business Wire 2010