Exhibit 99(b)
BALANCE SHEETS
BOK FINANCIAL CORPORATION
(In thousands)
Period Ended
---------------------------------------------------
June 30, December 31, June 30,
2006 2005 2005
-------------- --------------- -------------
(Unaudited) (Unaudited)
ASSETS
Cash and due from banks $ 618,064 $ 684,857 $ 653,047
Trading securities 25,702 18,633 10,588
Funds sold and resell agreements 25,469 14,465 27,176
Securities:
Available for sale 4,743,090 4,821,575 4,887,966
Investment 223,411 245,125 220,401
Mortgage trading securities 68,327 - -
-------------- --------------- -------------
Total securities 5,034,828 5,066,700 5,108,367
Loans:
Commercial 5,538,047 5,299,935 4,859,779
Commercial real estate 2,324,207 1,989,902 1,861,859
Residential mortgage 1,211,448 1,169,331 1,151,674
Residential mortgage held for sale 54,026 51,666 74,410
Consumer 666,740 629,144 566,958
-------------- --------------- -------------
Total loans 9,794,468 9,139,978 8,514,680
Less reserve for loan losses (104,525) (103,876) (108,885)
-------------- --------------- -------------
Loans, net of reserve 9,689,943 9,036,102 8,405,795
Premises and equipment, net 177,142 179,627 174,526
Accrued revenue receivable 100,138 99,874 82,868
Intangible assets, net 260,293 263,022 260,279
Mortgage servicing rights, net 73,103 54,097 46,200
Real estate and other repossessed assets 8,257 8,476 5,062
Bankers' acceptances 30,430 33,001 40,949
Derivative contracts 414,367 452,878 271,692
Other assets 466,349 415,337 367,603
-------------- --------------- -------------
TOTAL ASSETS $ 16,924,085 $ 16,327,069 $ 15,454,152
============== =============== =============
LIABILITIES AND SHAREHOLDERS' EQUITY
Deposits:
Demand $ 1,823,929 $ 1,865,948 $ 1,749,948
Interest-bearing transaction 5,006,891 5,257,295 4,277,000
Savings 149,008 154,015 160,328
Time 4,326,957 4,098,060 3,713,530
-------------- --------------- -------------
Total deposits 11,306,785 11,375,318 9,900,806
Funds purchased and
repurchase agreements 2,342,339 1,337,911 2,123,589
Other borrowings 727,726 1,054,298 1,059,694
Subordinated debentures 290,522 295,964 297,882
Accrued interest, taxes, and expense 74,580 92,219 66,026
Bankers' acceptances 30,430 33,001 40,949
Due on unsettled securities trades 3,335 8,429 99,664
Derivative contracts 437,182 466,669 281,314
Other liabilities 128,176 124,106 103,253
-------------- --------------- -------------
TOTAL LIABILITIES 15,341,075 14,787,915 13,973,177
Shareholders' equity:
Capital, surplus and retained earnings 1,702,705 1,606,965 1,512,012
Accumulated other comprehensive income (loss) (119,695) (67,811) (31,037)
-------------- --------------- -------------
TOTAL SHAREHOLDERS' EQUITY 1,583,010 1,539,154 1,480,975
-------------- --------------- -------------
TOTAL LIABILITIES AND
SHAREHOLDERS' EQUITY $ 16,924,085 $ 16,327,069 $ 15,454,152
============== =============== =============
AVERAGE BALANCE SHEETS - UNAUDITED
BOK FINANCIAL CORPORATION
(In thousands)
Quarter Ended
--------------------------------------------------------------------------------------
June 30, March 31, December 31, September 30, June 30,
2006 2006 2005 2005 2005
-------------- --------------- ------------- --------------- -------------
ASSETS
Trading securities $ 23,672 $ 16,722 $ 20,595 $ 14,560 $ 11,639
Funds sold and resell agreements 32,048 21,181 57,656 44,882 21,170
Securities:
Available for sale 4,760,257 4,887,484 4,815,296 4,794,958 4,825,706
Investment 227,810 236,953 244,488 236,837 220,840
Mortgage trading securities 68,518 - - - -
-------------- --------------- ------------- --------------- -------------
Total securities 5,056,585 5,124,437 5,059,784 5,031,795 5,046,546
Loans:
Commercial 5,355,644 5,217,467 5,222,316 4,926,685 4,716,278
Commercial real estate 2,247,779 2,096,885 1,960,507 1,917,996 1,871,830
Residential mortgage 1,176,660 1,166,509 1,160,385 1,119,512 1,152,834
Residential mortgage held for sale 47,163 45,983 42,756 59,265 47,506
Consumer 645,064 637,863 619,582 612,274 553,042
-------------- --------------- ------------- --------------- -------------
Total loans 9,472,309 9,164,706 9,005,546 8,635,732 8,341,490
Less allowance for loan losses (106,048) (105,135) (108,998) (109,840) (111,056)
-------------- --------------- ------------- --------------- -------------
Total loans, net 9,366,261 9,059,571 8,896,548 8,525,892 8,230,434
-------------- --------------- ------------- --------------- -------------
Total earning assets 14,478,566 14,221,911 14,034,583 13,617,129 13,309,789
Cash and due from banks 554,412 584,508 540,776 542,841 552,600
Other assets 1,531,312 1,463,820 1,627,352 1,427,905 1,198,086
-------------- --------------- ------------- --------------- -------------
TOTAL ASSETS $ 16,564,290 $ 16,270,239 $ 16,202,711 $ 15,587,875 $ 15,060,475
============== =============== ============= =============== =============
LIABILITIES AND SHAREHOLDERS' EQUITY
Deposits:
Demand $ 1,474,835 $ 1,485,398 $ 1,530,504 $ 1,424,102 $ 1,586,248
Interest-bearing transaction 5,353,413 5,327,004 4,821,627 4,533,912 4,323,513
Savings 153,200 155,554 154,316 157,772 166,426
Time 4,220,204 4,162,952 4,216,625 3,958,948 3,710,338
-------------- --------------- ------------- --------------- -------------
Total deposits 11,201,652 11,130,908 10,723,072 10,074,734 9,786,525
Funds purchased and
repurchase agreements 2,118,211 1,731,983 1,812,752 2,067,432 2,160,031
Other borrowings 684,431 882,878 1,049,635 1,047,423 914,968
Subordinated debentures 292,474 295,792 296,021 297,284 200,038
Other liabilities 695,418 680,897 814,192 613,667 558,655
-------------- --------------- ------------- --------------- -------------
TOTAL LIABILITIES 14,992,186 14,722,458 14,695,672 14,100,540 13,620,217
Shareholders' equity 1,572,104 1,547,781 1,507,039 1,487,335 1,440,258
-------------- --------------- ------------- --------------- -------------
TOTAL LIABILITIES AND
SHAREHOLDERS' EQUITY $ 16,564,290 $ 16,270,239 $ 16,202,711 $ 15,587,875 $ 15,060,475
============== =============== ============= =============== =============
STATEMENTS OF EARNINGS - UNAUDITED
BOK FINANCIAL CORPORATION
(In thousands, except per share data)
Quarter Ended Six Months Ended
--------------------------------- -------------------------------
June 30, June 30,
--------------------------------- -------------------------------
2006 2005 2006 2005
-------------- --------------- ------------- ---------------
Interest revenue $ 240,440 $ 186,334 $ 464,025 $ 356,638
Interest expense 119,334 73,801 225,593 136,511
-------------- --------------- ------------- ---------------
Net interest revenue 121,106 112,533 238,432 220,127
Provision for credit losses 3,795 2,015 7,195 4,015
-------------- --------------- ------------- ---------------
Net interest revenue after
provision for credit losses 117,311 110,518 231,237 216,112
Other operating revenue
Brokerage and trading revenue 11,427 10,404 23,437 21,740
Transaction card revenue 19,951 17,979 38,459 34,522
Trust fees and commissions 17,751 16,259 35,696 32,275
Deposit service charges and fees 26,341 25,347 50,327 47,520
Mortgage banking revenue 7,195 8,550 13,984 14,128
Other revenue 10,931 8,160 21,742 15,557
-------------- --------------- ------------- ---------------
Total fees and commissions 93,596 86,699 183,645 165,742
Gain on asset sales 39 5,937 957 6,909
Gain (loss) on securities, net (2,583) 2,266 (3,804) (371)
Gain (loss) on derivatives, net (172) (311) (481) 467
-------------- --------------- ------------- ---------------
Total other operating revenue 90,880 94,591 180,317 172,747
Other operating expense
Personnel 72,369 65,333 143,601 123,772
Business promotion 4,802 3,870 9,605 8,300
Professional fees and services 4,362 4,492 8,276 8,111
Net occupancy and equipment 13,199 12,650 26,225 24,744
Data processing and communications 16,157 16,381 33,152 31,480
Printing, postage and supplies 4,001 3,629 7,906 7,244
Net (gains) losses and operating expenses
of repossessed assets 54 316 273 624
Amortization of intangible assets 1,359 1,808 2,729 3,345
Mortgage banking costs 2,839 3,387 5,926 7,000
Change in fair value of mortgage servicing rights (3,613) - (10,694) -
Provision for impairment of mortgage servicing rights - 7,088 - 1,464
Other expense 6,598 7,056 12,507 12,085
-------------- --------------- ------------- ---------------
Total other operating expense 122,127 126,010 239,506 228,169
Income before taxes 86,064 79,099 172,048 160,690
Federal and state income taxes 31,080 28,634 62,316 58,170
-------------- --------------- ------------- ---------------
Net income $ 54,984 $ 50,465 $ 109,732 $ 102,520
============== =============== ============= ===============
Average shares outstanding:
Basic 66,775,117 63,779,343 66,745,422 61,618,602
Diluted 67,317,681 66,986,428 67,289,335 66,967,146
Earnings per share:
Basic $ 0.82 $ 0.79 $ 1.64 $ 1.66
============== =============== ============= ===============
Diluted $ 0.82 $ 0.75 $ 1.63 $ 1.53
============== =============== ============= ===============
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,
2006 2006 2005 2005 2005
-------------- --------------- ------------- --------------- -------------
Capital:
Period-end shareholders' equity $ 1,583,010 $ 1,565,435 $ 1,539,154 $ 1,513,542 $ 1,480,975
Risk-based capital ratios:
Tier 1 10.00% 10.16% 9.84% 9.71% 9.85%
Total capital 12.14% 12.41% 12.10% 12.04% 12.55%
Leverage ratio 8.74% 8.60% 8.30% 8.01% 8.07%
Common stock:
Book value per share $ 23.68 $ 23.41 $ 23.07 $ 22.75 $ 22.29
Market value per share:
High $ 49.60 $ 47.65 $ 48.53 $ 49.30 $ 46.02
Low $ 46.85 $ 44.40 $ 43.54 $ 45.26 $ 40.09
Cash dividends paid $ 10,024 $ 6,694 $ 6,664 $ 6,656 $ 6,649
Dividend payout ratio 18.23% 12.23% 13.84% 13.10% 13.18%
Shares outstanding, net 66,840,241 66,883,037 66,702,408 66,520,927 66,454,330
Stock buy-back program:
Shares repurchased 108,322 61,408 - - 30,000
Amount $ 5,259,931 $ 2,759,075 $ - $ - $ 1,250,704
-------------- --------------- ------------- --------------- -------------
Average price per share $ 48.56 $ 44.93 $ $ - - $ 41.69
============== =============== ============= =============== =============
Performance ratios:
Return on average assets 1.33% 1.36% 1.18% 1.29% 1.34%
Return on average equity 14.03% 14.35% 12.68% 13.56% 14.05%
Net interest margin 3.40% 3.39% 3.34% 3.32% 3.45%
Efficiency ratio 58.12% 59.58% 60.28% 59.36% 59.32%
Other data:
Trust assets $ 28,746,686 $ 29,091,040 $ 28,464,745 $ 27,598,958 $ 25,971,994
Mortgage servicing portfolio $ 4,536,605 $ 4,520,976 $ 4,056,427 $ 4,053,885 $ 4,040,178
Mortgage loan refinances to total fundings 21.71% 27.59% 27.12% 27.19% 24.08%
Tax equivalent adjustment $ 1,640 $ 1,522 $ 1,392 $ 1,289 $ 1,245
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,
2006 2006 2005 2005 2005
-------------- --------------- ------------- --------------- -------------
Interest revenue $ 240,440 $ 223,585 $ 214,240 $ 199,056 $ 186,334
Interest expense 119,334 106,259 97,854 86,228 73,801
-------------- --------------- ------------- --------------- -------------
Net interest revenue 121,106 117,326 116,386 112,828 112,533
Provision for credit losses 3,795 3,400 4,450 3,976 2,015
-------------- --------------- ------------- --------------- -------------
Net interest revenue after
provision for credit losses 117,311 113,926 111,936 108,852 110,518
Other operating revenue
Brokerage and trading revenue 11,427 12,010 11,116 11,366 10,404
Transaction card revenue 19,951 18,508 18,988 18,526 17,979
Trust fees and commissions 17,751 17,945 16,536 16,376 16,259
Deposit service charges and fees 26,341 23,986 25,222 25,619 25,347
Mortgage banking revenue 7,195 6,789 7,018 9,535 8,550
Other revenue 10,931 10,811 10,067 9,490 8,160
-------------- --------------- ------------- --------------- -------------
Total fees and commissions 93,596 90,049 88,947 90,912 86,699
Gain on asset sales 39 918 71 81 5,937
Gain (loss) on securities, net (2,583) (1,221) (1,780) (4,744) 2,266
Gain (loss) on derivatives, net (172) (309) 106 606 (311)
-------------- --------------- ------------- --------------- -------------
Total other operating revenue 90,880 89,437 87,344 86,855 94,591
Other operating expense
Personnel 72,369 71,232 68,666 66,533 65,333
Business promotion 4,802 4,803 5,170 4,494 3,870
Professional fees and services 4,362 3,914 4,534 3,951 4,492
Net occupancy and equipment 13,199 13,026 12,864 12,587 12,650
Data processing and communications 16,157 16,995 18,054 17,492 16,381
Printing, postage and supplies 4,001 3,905 3,976 3,846 3,629
Net (gains) losses and operating expenses
of repossessed assets 54 219 335 (387) 316
Amortization of intangible assets 1,359 1,370 1,797 1,801 1,808
Mortgage banking costs 2,839 3,087 3,294 4,268 3,387
Change in fair value of mortgage servicing rights (3,613) (7,081) - - -
Provision (recovery) for impairment
of mortgage servicing rights - - (708) (4,671) 7,088
Other expense 6,598 5,909 5,921 7,120 7,056
-------------- --------------- ------------- --------------- -------------
Total other operating expense 122,127 117,379 123,903 117,034 126,010
Income before taxes 86,064 85,984 75,377 78,673 79,099
Federal and state income taxes 31,080 31,236 27,219 27,846 28,634
-------------- --------------- ------------- --------------- -------------
Net income $ 54,984 $ 54,748 $ 48,158 $ 50,827 $ 50,465
============== =============== ============= =============== =============
Average shares outstanding:
Basic 66,775,117 66,715,396 66,527,093 66,427,447 63,779,343
Diluted 67,317,681 67,260,659 67,146,614 67,105,539 66,986,428
Earnings per share:
Basic $ 0.82 $ 0.82 $ 0.72 $ 0.77 $.0.79
Diluted $ 0.82 $ 0.81 $ 0.72 $ 0.76 $.0.75
LOANS BY PRINCIPAL MARKET AREA - UNAUDITED
BOK FINANCIAL CORPORATION
(In thousands)
Quarter Ended
--------------------------------------------------------------------------------------
June 30, March 31, December 31, September 30, June 30,
2006 2006 2005 2005 2005
-------------- --------------- ------------- --------------- -------------
Oklahoma:
Commercial $ 3,212,851 $ 3,074,406 $ 3,159,683 $ 3,101,209 $ 3,026,311
Commercial real estate 1,019,815 936,030 862,700 890,737 856,617
Residential mortgage 855,087 847,848 842,757 839,344 827,431
Residential mortgage held for sale 54,026 40,299 51,666 46,306 74,410
Consumer 479,508 468,920 466,180 472,899 425,318
-------------- --------------- ------------- --------------- -------------
Total Oklahoma 5,621,287 5,367,503 5,382,986 5,350,495 5,210,087
Texas:
Commercial 1,547,274 1,420,860 1,356,611 1,294,606 1,182,307
Commercial real estate 670,969 604,413 569,921 537,576 509,472
Residential mortgage 212,987 200,957 199,726 196,593 196,457
Consumer 84,212 87,669 89,017 89,329 90,245
-------------- --------------- ------------- --------------- -------------
Total Texas 2,515,442 2,313,899 2,215,275 2,118,104 1,978,481
New Mexico:
Commercial 334,984 348,930 383,325 354,087 340,378
Commercial real estate 237,020 228,955 232,564 223,236 219,175
Residential mortgage 73,281 68,810 65,784 65,203 63,821
Consumer 13,404 13,820 15,137 15,195 15,813
-------------- --------------- ------------- --------------- -------------
Total New Mexico 658,689 660,515 696,810 657,721 639,187
Arkansas:
Commercial 80,539 74,423 79,719 54,703 54,703
Commercial real estate 87,080 80,529 75,483 85,600 76,803
Residential mortgage 15,067 13,069 13,044 12,097 11,674
Consumer 51,166 33,548 25,659 20,397 4,560
-------------- --------------- ------------- --------------- -------------
Total Arkansas 233,852 201,569 193,905 172,797 147,740
Colorado:
Commercial 299,380 267,928 270,108 219,208 210,142
Commercial real estate 155,453 134,771 133,537 132,741 125,120
Residential mortgage 21,113 20,383 21,918 26,186 27,292
Consumer 31,939 31,487 27,871 26,126 27,996
-------------- --------------- ------------- --------------- -------------
Total Colorado 507,885 454,569 453,434 404,261 390,550
Arizona:
Commercial 63,019 52,274 50,489 43,877 45,938
Commercial real estate 153,870 120,262 115,697 102,734 74,672
Residential mortgage 33,913 26,270 26,102 27,136 24,999
Consumer 6,511 5,098 5,280 6,443 3,026
-------------- --------------- ------------- --------------- -------------
Total Arizona 257,313 203,904 197,568 180,190 148,635
-------------- --------------- ------------- --------------- -------------
TOTAL BOK FINANCIAL $ 9,794,468 $ 9,201,959 $ 9,139,97859 $ 8,883,568 $ 8,514,680
============== =============== ============= =============== =============
DEPOSITS BY PRINCIPAL MARKET AREA - UNAUDITED
BOK FINANCIAL CORPORATION
(In thousands)
Quarter Ended
--------------------------------------------------------------------------------------
June 30, March 31, December 31, September 30, June 30,
2006 2006 2005 2005 2005
-------------- --------------- ------------- --------------- -------------
Oklahoma:
Demand $ 908,034 $ 950,582 $ 1,003,284 $ 959,169 $ 1,028,640
Interest-bearing:
Transaction 2,732,312 2,937,228 3,002,610 2,411,175 2,367,511
Savings 88,218 93,093 85,837 86,220 89,972
Time 2,662,770 2,623,352 2,564,337 2,728,224 2,450,730
-------------- --------------- ------------- --------------- -------------
Total interest-bearing 5,483,300 5,653,673 5,652,784 5,225,619 4,908,213
-------------- --------------- ------------- --------------- -------------
Total Oklahoma 6,391,334 6,604,255 6,656,068 6,184,788 5,936,853
-------------- --------------- ------------- --------------- -------------
Texas:
Demand 638,157 551,411 615,732 533,475 478,855
Interest-bearing:
Transaction 1,530,491 1,455,856 1,535,570 1,299,279 1,292,938
Savings 26,370 27,827 27,398 29,620 29,635
Time 717,027 726,530 735,731 633,785 606,528
-------------- --------------- ------------- --------------- -------------
Total interest-bearing 2,273,888 2,210,213 2,298,699 1,962,684 1,929,101
-------------- --------------- ------------- --------------- -------------
Total Texas 2,912,045 2,761,624 2,914,431 2,496,159 2,407,956
-------------- --------------- ------------- --------------- -------------
New Mexico:
Demand 147,307 159,125 129,289 155,517 139,107
Interest-bearing:
Transaction 410,166 408,160 381,099 338,706 306,230
Savings 16,860 17,805 17,839 17,614 17,875
Time 494,426 483,428 453,314 454,561 449,180
-------------- --------------- ------------- --------------- -------------
Total interest-bearing 921,452 909,393 852,252 810,881 773,285
-------------- --------------- ------------- --------------- -------------
Total New Mexico 1,068,759 1,068,518 981,541 966,398 912,392
-------------- --------------- ------------- --------------- -------------
Arkansas:
Demand 11,521 11,629 10,429 13,772 10,890
Interest-bearing:
Transaction 20,577 26,675 22,354 23,335 24,816
Savings 1,072 1,051 1,058 1,268 1,284
Time 69,418 73,082 75,034 81,510 83,388
-------------- --------------- ------------- --------------- -------------
Total interest-bearing 91,067 100,808 98,446 106,113 109,488
-------------- --------------- ------------- --------------- -------------
Total Arkansas 102,588 112,437 108,875 119,885 120,378
-------------- --------------- ------------- --------------- -------------
Colorado:
Demand 45,214 56,419 61,647 51,978 32,044
Interest-bearing:
Transaction 245,504 258,801 258,668 216,718 228,881
Savings 13,786 16,315 17,772 16,568 16,791
Time 379,239 309,068 264,020 221,753 117,130
-------------- --------------- ------------- --------------- -------------
Total interest-bearing 638,529 584,184 540,460 455,039 362,802
-------------- --------------- ------------- --------------- -------------
Total Colorado 683,743 640,603 602,107 507,017 394,846
-------------- --------------- ------------- --------------- -------------
Arizona:
Demand 73,696 55,421 45,567 42,784 60,412
Interest-bearing:
Transaction 67,841 57,400 56,994 71,510 56,624
Savings 2,702 3,380 4,111 3,862 4,771
Time 4,077 4,608 5,624 6,802 6,574
-------------- --------------- ------------- --------------- -------------
Total interest-bearing 74,620 65,388 66,729 82,174 67,969
-------------- --------------- ------------- --------------- -------------
Total Arizona 148,316 120,809 112,296 124,958 128,381
-------------- --------------- ------------- --------------- -------------
TOTAL BOK FINANCIAL $ 11,306,785 $ 11,308,246 $ 11,375,318 $ 10,399,205 $ 9,900,806
============== =============== ============= =============== =============
NET INTEREST MARGIN TREND - UNAUDITED
BOK FINANCIAL CORPORATION
Quarter Ended
--------------------------------------------------------------------------------------
June 30, March 31, December 31, September 30, June 30,
2006 2006 2005 2005 2005
-------------- --------------- ------------- --------------- -------------
TAX-EQUIVALENT ASSETS YIELDS
Trading securities 4.86% 5.07% 4.68% 4.66% 5.69%
Funds sold and resell agreements 5.09% 4.58% 4.00% 3.41% 2.96%
Securities:
Taxable 4.75% 4.60% 4.44% 4.28% 4.32%
Tax-exempt 5.21% 5.36% 5.05% 4.96% 5.23%
-------------- --------------- ------------- --------------- -------------
Total securities 4.78% 4.64% 4.47% 4.31% 4.36%
Total loans 7.67% 7.35% 6.98% 6.66% 6.40%
Less Allowance for loan losses - - - - -
-------------- --------------- ------------- --------------- -------------
Total loans, net 7.76% 7.44% 7.06% 6.75% 6.49%
-------------- --------------- ------------- --------------- -------------
Total tax-equivalent yield on earning assets 6.71% 6.42% 6.12% 5.83% 5.68%
COST OF INTEREST-BEARING LIABILITIES
Interest-bearing deposits:
Interest-bearing transaction 2.61% 2.37% 1.98% 1.66% 1.49%
Savings 0.92% 0.86% 0.75% 0.70% 0.69%
Time 4.26% 4.03% 3.77% 3.53% 3.41%
-------------- --------------- ------------- --------------- -------------
Total interest-bearing deposits 3.30% 3.06% 2.78% 2.50% 2.34%
Funds purchased and repurchase agreements 4.87% 4.33% 3.92% 3.40% 2.93%
Other borrowings 5.09% 4.60% 4.08% 3.60% 3.17%
Subordinated debt 6.76% 6.74% 6.28% 5.97% 5.98%
-------------- --------------- ------------- --------------- -------------
Total cost of interest-bearing liabilities 3.73% 3.43% 3.14% 2.84% 2.58%
-------------- --------------- ------------- --------------- -------------
Tax-equivalent net interest revenue spread 2.98% 2.99% 2.98% 2.99% 3.10%
Effect of noninterest-bearing funding sources 0.42% 0.40% 0.36% 0.33% 0.35%
-------------- --------------- ------------- --------------- -------------
Tax-equivalent net interest margin 3.40% 3.39% 3.34% 3.32% 3.45%
============== =============== ============= =============== =============
CREDIT QUALITY INDICATORS
BOK FINANCIAL CORPORATION
(In thousands, except ratios)
Quarter Ended
-----------------------------------------------------------------------------------
June 30, March 31, December 31, September 30, June 30,
2006 2006 2005 2005 2005
----------- --------------- ------------- --------------- -------------
Nonperforming assets:
Nonaccruing loans $ 30,976 $ 32,229 $ 25,162 $ 37,353 $ 40,527
Real estate and other repossessed assets 8,257 8,196 8,476 5,069 5,062
----------- --------------- ------------- --------------- -------------
Total nonperforming assets $ 39,233 $ 40,425 $ 33,638 $ 42,422 $ 45,589
=========== =============== ============= =============== =============
Performing loans 90 days past due $ 9,630 $ 3,919 $ 8,708 $ 10,027 $ 7,125
Gross charge-offs $ 5,881 $ 4,149 $ 9,579 $ 5,311 $ 5,044
Recoveries 2,085 2,564 2,164 1,977 2,757
----------- --------------- ------------- --------------- -------------
Net charge-offs $ 3,796 $ 1,585 $ 7,415 $ 3,334 $ 2,287
=========== =============== ============= =============== =============
Provision for credit losses $ 3,795 $ 3,400 $ 4,450 $ 3,976 $ 2,015
Reserve for loan losses to period end loans (A) 1.07% 1.14% 1.14% 1.24% 1.29%
Combined reserves for credit losses to
period end loans 1.30% 1.38% 1.37% 1.44% 1.50%
Nonperforming assets to period end loans (A)
and repossessed assets 0.40% 0.44% 0.37% 0.48% 0.54%
Net charge-offs (annualized) to average loans (A) 0.16% 0.07% 0.33% 0.16% 0.11%
Reserve for loan losses to nonaccruing loans 337.44% 323.13% 412.83% 293.48% 268.67%
Combined reserves for credit losses to
nonaccruing loans 407.62% 391.77% 494.60% 341.11% 312.81%
(A) excluding residential mortgage loans held for sale