UPDATE 1-BOK Financial sees 4-fold rise in loan loss provision

(Recasts, adds details, share movement)

July 2 (Reuters) - BOK Financial Corp (BOKF.O) forecast a more than four-fold increase in provision for loan losses for the second quarter, sending its shares down as much as 10 percent.

The Oklahoma-based financial holding company also expects to take a quarterly charge of $2.5 million to $3.0 million related to the sale of certain residential mortgage loans, it said in a filing with the U.S. Securities and Exchange Commission.

BOK will record a provision for bad loans of $30 million to $35 million for the second quarter, up from the $7.8 million it recorded in the year-ago quarter.

For the first quarter of 2008, the company had recorded a loan loss provision of $17.6 million.

Net loan charge-offs are expected to be $12 million to $14 million for the latest second quarter, while non-performing assets are seen between $150 million and $165 million.

Net loans charged-off were $5.8 million and non-performing assets totaled $60 million in the year-ago quarter.

Shares of BOK were down 8 percent at $49.79 in afternoon trade on Nasdaq, after touching a low of $48.49 earlier in the session. (Reporting by Sweta Singh in Bangalore; Editing by Gopakumar Warrier)