EXHIBIT 99 (b)
BALANCE SHEETS
BOK FINANCIAL CORPORATION
(In thousands)
Period Ended
---------------------------------
December 31, December 31,
2006 2005
-------------- ---------------
(Unaudited)
ASSETS
Cash and due from banks $ 775,376 $ 684,857
Trading securities 37,076 18,633
Funds sold and resell agreements 21,950 14,465
Securities:
Available for sale 4,655,061 4,821,575
Investment 248,689 245,125
Mortgage trading securities 162,837 -
-------------- ---------------
Total securities 5,066,587 5,066,700
Loans:
Commercial 6,208,884 5,299,935
Commercial real estate 2,446,540 1,989,902
Residential mortgage 1,256,259 1,169,331
Residential mortgage held for sale 64,625 51,666
Consumer 739,495 629,144
-------------- ---------------
Total loans 10,715,803 9,139,978
Less reserve for loan losses (109,497) (103,876)
-------------- ---------------
Loans, net of reserve 10,606,306 9,036,102
Premises and equipment, net 188,041 179,627
Accrued revenue receivable 118,236 99,874
Intangible assets, net 258,060 263,022
Mortgage servicing rights, net 65,946 54,097
Real estate and other repossessed assets 8,486 8,476
Bankers' acceptances 43,613 33,001
Derivative contracts 284,239 452,878
Cash surrender value of bank-owned life insurance 212,230 9,279
Other assets 373,478 406,058
-------------- ---------------
TOTAL ASSETS $ 18,059,624 $ 16,327,069
============== ===============
LIABILITIES AND SHAREHOLDERS' EQUITY
Deposits:
Demand $ 1,780,059 $ 1,865,948
Interest-bearing transaction 5,996,970 5,257,295
Savings 139,130 154,015
Time 4,470,546 4,098,060
-------------- ---------------
Total deposits 12,386,705 11,375,318
Funds purchased and
repurchase agreements 2,348,516 1,337,911
Other borrowings 593,731 1,054,298
Subordinated debentures 297,800 295,964
Accrued interest, taxes, and expense 104,752 92,219
Bankers' acceptances 43,613 33,001
Due on unsettled securities trades 107,420 8,429
Derivative contracts 298,679 466,669
Other liabilities 157,386 124,106
-------------- ---------------
TOTAL LIABILITIES 16,338,602 14,787,915
Shareholders' equity:
Capital, surplus and retained earnings 1,794,466 1,606,965
Accumulated other comprehensive income (loss) (73,444) (67,811)
-------------- ---------------
TOTAL SHAREHOLDERS' EQUITY 1,721,022 1,539,154
-------------- ---------------
TOTAL LIABILITIES AND
SHAREHOLDERS' EQUITY $ 18,059,624 $ 16,327,069
============== ===============
AVERAGE BALANCE SHEETS - UNAUDITED
BOK FINANCIAL CORPORATION
(In thousands)
Quarter Ended
---------------------------------------------------------------------------------------
December 31, September 30, June 30, March 31, December 31,
2006 2006 2006 2006 2005
-------------- --------------- ------------- --------------- --------------
ASSETS
Trading securities $ 22,668 $ 21,721 $ 23,672 $ 16,722 $ 20,595
Funds sold and resell agreements 39,665 51,518 32,048 21,181 57,656
Securities:
Available for sale 4,670,470 4,681,094 4,760,257 4,828,324 4,815,296
Investment 248,692 238,908 227,810 236,953 244,488
Mortgage trading securities 145,426 80,756 68,518 59,160 -
-------------- --------------- ------------- --------------- --------------
Total securities 5,064,588 5,000,758 5,056,585 5,124,437 5,059,784
Loans:
Commercial 6,028,240 5,568,238 5,355,644 5,217,467 5,222,316
Commercial real estate 2,352,289 2,280,681 2,247,779 2,096,885 1,960,507
Residential mortgage 1,209,115 1,223,140 1,176,660 1,166,509 1,160,385
Residential mortgage held for sale 61,328 51,647 47,163 45,983 42,756
Consumer 710,869 689,896 645,064 637,863 619,582
-------------- --------------- ------------- --------------- --------------
Total loans 10,361,841 9,813,602 9,472,309 9,164,706 9,005,546
Less allowance for loan losses (108,377) (106,474) (106,048) (105,135) (108,998)
-------------- --------------- ------------- --------------- --------------
Total loans, net 10,253,464 9,707,128 9,366,261 9,059,571 8,896,548
-------------- --------------- ------------- --------------- --------------
Total earning assets 15,380,385 14,781,125 14,478,566 14,221,911 14,034,583
Cash and due from banks 619,236 562,802 554,412 584,508 540,776
Other assets 1,539,411 1,487,196 1,531,312 1,463,820 1,627,352
-------------- --------------- ------------- --------------- --------------
TOTAL ASSETS $ 17,539,032 $ 16,831,123 $ 16,564,290 $ 16,270,239 $ 16,202,711
============== =============== ============= =============== ==============
LIABILITIES AND SHAREHOLDERS' EQUITY
Deposits:
Demand $ 1,481,455 $ 1,453,163 $ 1,474,835 $ 1,485,398 $ 1,530,504
Interest-bearing transaction 5,768,216 5,458,280 5,353,413 5,327,004 4,821,627
Savings 139,796 146,276 153,200 155,554 154,316
Time 4,417,427 4,314,672 4,220,204 4,162,952 4,216,625
-------------- --------------- ------------- --------------- --------------
Total deposits 11,806,894 11,372,391 11,201,652 11,130,908 10,723,072
Funds purchased and
repurchase agreements 2,584,354 2,138,749 2,118,211 1,731,983 1,812,752
Other borrowings 586,743 750,247 684,431 882,878 1,049,635
Subordinated debentures 298,427 293,146 292,474 295,792 296,021
Other liabilities 566,128 657,269 695,418 680,897 814,192
-------------- --------------- ------------- --------------- --------------
TOTAL LIABILITIES 15,842,546 15,211,802 14,992,186 14,722,458 14,695,672
Shareholders' equity 1,696,486 1,619,321 1,572,104 1,547,781 1,507,039
-------------- --------------- ------------- --------------- --------------
TOTAL LIABILITIES AND
SHAREHOLDERS' EQUITY $ 17,539,032 $ 16,831,123 $ 16,564,290 $ 16,270,239 $ 16,202,711
============== =============== ============= =============== ==============
STATEMENTS OF EARNINGS - UNAUDITED
BOK FINANCIAL CORPORATION
(In thousands, except per share data)
Quarter Ended Year Ended
--------------------------------- -------------------------------
December 31, December 31,
--------------------------------- -------------------------------
2006 2005 2006 2005
-------------- --------------- ------------- ---------------
Interest revenue $ 266,924 $ 214,240 $ 986,429 $ 769,934
Interest expense 142,646 97,854 499,741 320,593
-------------- --------------- ------------- ---------------
Net interest revenue 124,278 116,386 486,688 449,341
Provision for credit losses 5,953 4,450 18,402 12,441
-------------- --------------- ------------- ---------------
Net interest revenue after
provision for credit losses 118,325 111,936 468,286 436,900
Other operating revenue
Brokerage and trading revenue 13,165 11,116 47,560 44,222
Transaction card revenue 20,224 18,988 78,622 72,036
Trust fees and commissions 18,240 16,536 71,037 65,187
Deposit service charges and fees 25,787 25,222 102,436 98,361
Mortgage banking revenue 6,077 7,018 26,996 30,681
Other revenue 11,362 9,924 45,045 34,377
-------------- --------------- ------------- ---------------
Total fees and commissions 94,855 88,804 371,696 344,864
Gain (loss) on asset sales 252 214 1,499 7,798
Gain (loss) on securities, net (864) (1,780) (950) (6,895)
Gain (loss) on derivatives, net (520) 106 (622) 1,179
-------------- --------------- ------------- ---------------
Total other operating revenue 93,723 87,344 371,623 346,946
Other operating expense
Personnel 78,054 68,666 296,260 258,971
Business promotion 5,345 5,170 19,351 17,964
Professional fees and services 4,734 4,534 17,744 16,596
Net occupancy and equipment 12,741 12,864 52,188 50,195
Data processing and communications 16,843 18,054 66,926 67,026
Printing, postage and supplies 3,774 3,976 15,862 15,066
Net (gains) losses and operating expenses
of repossessed assets 167 335 474 572
Amortization of intangible assets 1,299 1,797 5,327 6,943
Mortgage banking costs 3,034 3,294 11,829 14,562
Change in fair value of mortgage servicing rights (236) - (3,009) -
Recovery for impairment of mortgage servicing rights - (708) - (3,915)
Other expense 8,236 5,921 29,355 25,126
-------------- --------------- ------------- ---------------
Total other operating expense 133,991 123,903 512,307 469,106
Income before taxes 78,057 75,377 327,602 314,740
Federal and state income taxes 27,472 27,219 114,625 113,235
-------------- --------------- ------------- ---------------
Net income $ 50,585 $ 48,158 $ 212,977 $ 201,505
============== =============== ============= ===============
Average shares outstanding:
Basic 66,813,519 66,527,093 66,759,384 64,067,873
Diluted 67,359,208 67,146,614 67,310,005 67,047,064
Earnings per share:
Basic $ 0.76 $ 0.72 $ 3.19 $ 3.14
============== =============== ============= ===============
Diluted $ 0.75 $ 0.72 $ 3.16 $ 3.01
============== =============== ============= ===============
FINANCIAL HIGHLIGHTS - UNAUDITED
BOK FINANCIAL CORPORATION
(In thousands, except ratio and share data)
Quarter Ended
--------------------------------------------------------------------------------------
December 31, September 30, June 30, March 31, December 31,
2006 2006 2006 2006 2005
-------------- --------------- ------------- --------------- -------------
Capital:
Period-end shareholders' equity $ 1,721,022 $ 1,669,918 $ 1,583,010 $ 1,565,435 $ 1,539,154
Risk-based capital ratios:
Tier 1 9.78% 9.99% 10.00% 10.16% 9.84%
Total capital 11.58% 12.07% 12.14% 12.41% 12.10%
Leverage ratio 8.79% 8.88% 8.74% 8.60% 8.30%
Common stock:
Book value per share $ 25.66 $ 24.98 $ 23.68 $ 23.41 $ 23.07
Market value per share:
High $ 54.98 $ 53.30 $ 49.60 $ 47.65 $ 48.53
Low $ 50.40 $ 48.13 $ 46.85 $ 44.40 $ 43.54
Cash dividends paid $ 10,037 $ 10,034 $ 10,024 $ 6,694 $ 6,664
Dividend payout ratio 19.84% 19.05% 18.23% 12.23% 13.84%
Shares outstanding, net 67,067,750 66,859,272 66,840,241 66,883,037 66,702,408
Stock buy-back program:
Shares repurchased 7,500 71,447 108,322 61,408 -
Amount $ 380,998 $ 3,702,729 $ 5,259,931 $ 2,759,075 $ -
-------------- --------------- ------------- --------------- -------------
Average price per share $ 50.80 $ 51.82 $ 48.56 $ 44.93 $ -
============== =============== ============= =============== =============
Performance ratios:
Return on average assets 1.14% 1.24% 1.33% 1.36% 1.18%
Return on average equity 11.83% 12.90% 14.03% 14.35% 12.68%
Net interest margin 3.25% 3.38% 3.40% 3.39% 3.34%
Efficiency ratio 60.71% 59.81% 58.04% 59.61% 60.32%
Other data:
Gain (loss) on economic hedge of
mortgage servicing rights $ (465) $ 3,757 $ (2,534) $ (1,861) $ (1,368)
Trust assets $ 31,704,091 $ 29,732,804 $ 28,746,686 $ 29,091,040 $ 28,464,745
Mortgage servicing portfolio $ 4,526,508 $ 4,524,071 $ 4,536,605 $ 4,520,976 $ 4,056,427
Mortgage loan fundings during the quarter $ 179,139 $ 204,264 $ 214,835 $ 168,220 $ 211,426
Mortgage loan refinances to total fundings 39.19% 23.89% 21.71% 27.59% 27.12%
Tax equivalent adjustment $ 1,965 $ 1,836 $ 1,640 $ 1,522 $ 1,392
QUARTERLY EARNINGS TRENDS - UNAUDITED
BOK FINANCIAL CORPORATION
(In thousands, except ratio and per share data)
Quarter Ended
---------------------------------------------------------------------------------------
December 31, September 30, June 30, March 31, December 31,
2006 2006 2006 2006 2005
-------------- --------------- ------------- --------------- --------------
Interest revenue $ 266,924 $ 255,480 $ 240,440 $ 223,585 $ 214,240
Interest expense 142,646 131,502 119,334 106,259 97,854
-------------- --------------- ------------- --------------- --------------
Net interest revenue 124,278 123,978 121,106 117,326 116,386
Provision for credit losses 5,953 5,254 3,795 3,400 4,450
-------------- --------------- ------------- --------------- --------------
Net interest revenue after
provision for credit losses 118,325 118,724 117,311 113,926 111,936
Other operating revenue
Brokerage and trading revenue 13,165 10,958 11,427 12,010 11,116
Transaction card revenue 20,224 19,939 19,951 18,508 18,988
Trust fees and commissions 18,240 17,101 17,751 17,945 16,536
Deposit service charges and fees 25,787 26,322 26,341 23,986 25,222
Mortgage banking revenue 6,077 6,935 7,195 6,789 7,018
Other revenue 11,362 11,756 11,239 10,688 9,924
-------------- --------------- ------------- --------------- --------------
Total fees and commissions 94,855 93,011 93,904 89,926 88,804
Gain (loss) on asset sales 252 475 (269) 1,041 214
Gain (loss) on securities, net (864) 3,718 (2,583) (1,221) (1,780)
Gain (loss) on derivatives, net (520) 379 (172) (309) 106
-------------- --------------- ------------- --------------- --------------
Total other operating revenue 93,723 97,583 90,880 89,437 87,344
Other operating expense
Personnel 78,054 74,605 72,369 71,232 68,666
Business promotion 5,345 4,401 4,802 4,803 5,170
Professional fees and services 4,734 4,734 4,362 3,914 4,534
Net occupancy and equipment 12,741 13,222 13,199 13,026 12,864
Data processing and communications 16,843 16,931 16,157 16,995 18,054
Printing, postage and supplies 3,774 4,182 4,001 3,905 3,976
Net (gains) losses and operating expenses
of repossessed assets 167 34 54 219 335
Amortization of intangible assets 1,299 1,299 1,359 1,370 1,797
Mortgage banking costs 3,034 2,869 2,839 3,087 3,294
Change in fair value of mortgage servicing
rights (236) 7,921 (3,613) (7,081) -
Recovery for impairment of mortgage servicing
rights - - - - (708)
Other expense 8,236 8,612 6,598 5,909 5,921
-------------- --------------- ------------- --------------- --------------
Total other operating expense 133,991 138,810 122,127 117,379 123,903
Income before taxes 78,057 77,497 86,064 85,984 75,377
Federal and state income taxes 27,472 24,837 31,080 31,236 27,219
-------------- --------------- ------------- --------------- --------------
Net income $ 50,585 $ 52,660 $ 54,984 $ 54,748 $ 48,158
============== =============== ============= =============== ==============
Average shares outstanding:
Basic 66,813,519 66,756,458 66,775,117 66,715,396 66,527,093
Diluted 67,359,208 67,325,428 67,317,681 67,260,659 67,146,614
Earnings per share:
Basic $ 0.76 $ 0.79 $ 0.82 $ 0.82 $0.72
Diluted $ 0.75 $ 0.78 $ 0.82 $ 0.81 $0.72
LOANS BY PRINCIPAL MARKET AREA - UNAUDITED
BOK FINANCIAL CORPORATION
(In thousands)
Quarter Ended
---------------------------------------------------------------------------------------
December 31, September 30, June 30, March 31, December 31,
2006 2006 2006 2006 2005
-------------- --------------- ------------- --------------- --------------
Oklahoma:
Commercial $ 3,261,592 $ 3,078,849 $ 3,119,736 $ 2,981,660 $ 3,091,842
Commercial real estate 979,251 968,267 995,953 925,703 859,829
Residential mortgage 896,567 878,390 854,723 847,517 842,456
Residential mortgage held for sale 64,625 58,031 54,026 40,299 51,666
Consumer 512,032 502,622 479,508 468,920 466,180
-------------- --------------- ------------- --------------- --------------
Total Oklahoma 5,714,067 5,486,159 5,503,946 5,264,099 5,311,973
Texas:
Commercial 1,722,627 1,557,361 1,548,545 1,420,860 1,356,611
Commercial real estate 670,635 639,327 669,698 604,413 569,921
Residential mortgage 213,801 212,114 212,987 200,957 199,726
Consumer 95,652 80,836 84,212 87,669 89,017
-------------- --------------- ------------- --------------- --------------
Total Texas 2,702,715 2,489,638 2,515,442 2,313,899 2,215,275
New Mexico:
Commercial 411,272 387,164 334,984 348,930 383,325
Commercial real estate 257,079 219,966 237,020 228,955 232,564
Residential mortgage 75,159 76,858 73,281 68,810 65,784
Consumer 13,256 13,899 13,404 13,820 15,137
-------------- --------------- ------------- --------------- --------------
Total New Mexico 756,766 697,887 658,689 660,515 696,810
Arkansas:
Commercial 95,483 89,849 80,539 74,423 79,719
Commercial real estate 94,395 91,158 87,080 80,529 75,483
Residential mortgage 23,076 21,923 15,067 13,069 13,044
Consumer 86,017 67,206 51,166 33,548 25,659
-------------- --------------- ------------- --------------- --------------
Total Arkansas 298,971 270,136 233,852 201,569 193,905
Colorado:
Commercial 451,046 353,657 299,380 267,928 270,108
Commercial real estate 193,747 170,081 155,453 134,771 133,537
Residential mortgage 15,812 17,656 21,113 20,383 21,918
Consumer 26,591 32,647 31,939 31,487 27,871
-------------- --------------- ------------- --------------- --------------
Total Colorado 687,196 574,041 507,885 454,569 453,434
Arizona:
Commercial 96,453 76,013 63,019 52,274 50,489
Commercial real estate 207,035 196,286 153,870 120,262 115,697
Residential mortgage 31,280 34,772 33,913 26,270 26,102
Consumer 5,947 5,737 6,511 5,098 5,280
-------------- --------------- ------------- --------------- --------------
Total Arizona 340,715 312,808 257,313 203,904 197,568
Kansas:
Commercial 170,411 134,683 93,115 92,746 67,841
Commercial real estate 44,398 40,074 23,862 10,327 2,871
Residential mortgage 564 480 364 331 301
Consumer - - - - -
-------------- --------------- ------------- --------------- --------------
Total Kansas 215,373 175,237 117,341 103,404 71,013
-------------- --------------- ------------- --------------- --------------
TOTAL BOK FINANCIAL $ 10,715,803 $ 10,005,906 $ 9,794,468 $ 9,201,959 $ 9,139,978
============== =============== ============= =============== ==============
DEPOSITS BY PRINCIPAL MARKET AREA - UNAUDITED
BOK FINANCIAL CORPORATION
(In thousands)
Quarter Ended
---------------------------------------------------------------------------------------
December 31, September 30, June 30, March 31, December 31,
2006 2006 2006 2006 2005
-------------- --------------- ------------- --------------- --------------
Oklahoma:
Demand $ 915,101 $ 868,502 $ 908,034 $ 950,582 $ 1,003,284
Interest-bearing:
Transaction 3,456,322 3,001,774 2,732,312 2,937,228 3,002,610
Savings 83,017 83,442 88,218 93,093 85,837
Time 2,595,890 2,621,522 2,662,770 2,623,352 2,564,337
-------------- --------------- ------------- --------------- --------------
Total interest-bearing 6,135,229 5,706,738 5,483,300 5,653,673 5,652,784
-------------- --------------- ------------- --------------- --------------
Total Oklahoma 7,050,330 6,575,240 6,391,334 6,604,255 6,656,068
-------------- --------------- ------------- --------------- --------------
Texas:
Demand 640,159 582,014 638,157 551,411 615,732
Interest-bearing:
Transaction 1,688,131 1,671,993 1,530,491 1,455,856 1,535,570
Savings 24,074 25,888 26,370 27,827 27,398
Time 829,255 736,316 717,027 726,530 735,731
-------------- --------------- ------------- --------------- --------------
Total interest-bearing 2,541,460 2,434,197 2,273,888 2,210,213 2,298,699
-------------- --------------- ------------- --------------- --------------
Total Texas 3,181,619 3,016,211 2,912,045 2,761,624 2,914,431
-------------- --------------- ------------- --------------- --------------
New Mexico:
Demand 124,088 144,138 147,307 159,125 129,289
Interest-bearing:
Transaction 432,342 434,521 410,166 408,160 381,099
Savings 16,417 16,804 16,860 17,805 17,839
Time 490,460 481,993 494,426 483,428 453,314
-------------- --------------- ------------- --------------- --------------
Total interest-bearing 939,219 933,318 921,452 909,393 852,252
-------------- --------------- ------------- --------------- --------------
Total New Mexico 1,063,307 1,077,456 1,068,759 1,068,518 981,541
-------------- --------------- ------------- --------------- --------------
Arkansas:
Demand 12,589 11,914 11,521 11,629 10,429
Interest-bearing:
Transaction 17,905 19,504 20,577 26,675 22,354
Savings 1,010 1,058 1,072 1,051 1,058
Time 57,446 61,966 69,418 73,082 75,034
-------------- --------------- ------------- --------------- --------------
Total interest-bearing 76,361 82,528 91,067 100,808 98,446
-------------- --------------- ------------- --------------- --------------
Total Arkansas 88,950 94,442 102,588 112,437 108,875
-------------- --------------- ------------- --------------- --------------
Colorado:
Demand 48,756 38,264 45,214 56,419 61,647
Interest-bearing:
Transaction 328,254 275,714 245,504 258,801 258,668
Savings 12,632 13,037 13,786 16,315 17,772
Time 485,200 421,841 379,239 309,068 264,020
-------------- --------------- ------------- --------------- --------------
Total interest-bearing 826,086 710,592 638,529 584,184 540,460
-------------- --------------- ------------- --------------- --------------
Total Colorado 874,842 748,856 683,743 640,603 602,107
-------------- --------------- ------------- --------------- --------------
Arizona:
Demand 39,352 62,234 73,696 55,421 45,567
Interest-bearing:
Transaction 73,729 74,786 67,841 57,400 56,994
Savings 1,978 2,408 2,702 3,380 4,111
Time 6,574 4,549 4,077 4,608 5,624
-------------- --------------- ------------- --------------- --------------
Total interest-bearing 82,281 81,743 74,620 65,388 66,729
-------------- --------------- ------------- --------------- --------------
Total Arizona 121,633 143,977 148,316 120,809 112,296
-------------- --------------- ------------- --------------- --------------
Kansas:
Demand 14 - - - -
Interest-bearing:
Transaction 287 - - - -
Savings 2 - - - -
Time 5,721 - - - -
-------------- --------------- ------------- --------------- --------------
Total interest-bearing 6,010 - - - -
-------------- --------------- ------------- --------------- --------------
Total Kansas 6,024 - - - -
-------------- --------------- ------------- --------------- --------------
TOTAL BOK FINANCIAL $ 12,386,705 $ 11,656,182 $ 11,306,785 $ 11,308,246 $ 11,375,318
============== =============== ============= =============== ==============
NET INTEREST MARGIN TREND - UNAUDITED
BOK FINANCIAL CORPORATION
Quarter Ended
--------------------------------------------------------------------------------
December 31, September 30, June 30, March 31, December 31,
2006 2006 2006 2006 2005
-------------- --------------- ------------- --------------- --------------
TAX-EQUIVALENT ASSETS YIELDS
Trading securities 5.64% 4.13% 4.86% 5.07% 4.68%
Funds sold and resell agreements 5.46% 5.00% 5.09% 4.58% 4.00%
Securities:
Taxable 4.69% 4.63% 4.75% 4.60% 4.44%
Tax-exempt 5.52% 5.43% 5.12% 5.36% 5.05%
-------------- --------------- ------------- --------------- --------------
Total securities 4.74% 4.68% 4.77% 4.64% 4.47%
Total loans 7.94% 7.99% 7.68% 7.35% 6.98%
Less Allowance for loan losses - - - - -
-------------- --------------- ------------- --------------- --------------
Total loans, net 8.02% 8.08% 7.76% 7.44% 7.06%
-------------- --------------- ------------- --------------- --------------
Total tax-equivalent yield on earning assets 6.93% 6.91% 6.71% 6.42% 6.12%
COST OF INTEREST-BEARING LIABILITIES
Interest-bearing deposits:
Interest-bearing transaction 2.99% 2.88% 2.61% 2.37% 1.98%
Savings 1.04% 0.98% 0.92% 0.86% 0.75%
Time 4.65% 4.46% 4.26% 4.03% 3.77%
-------------- --------------- ------------- --------------- --------------
Total interest-bearing deposits 3.67% 3.54% 3.30% 3.06% 2.78%
Funds purchased and repurchase agreements 5.18% 5.11% 4.87% 4.33% 3.92%
Other borrowings 5.50% 5.42% 5.09% 4.60% 4.08%
Subordinated debt 6.95% 7.05% 6.76% 6.74% 6.28%
-------------- --------------- ------------- --------------- --------------
Total cost of interest-bearing liabilities 4.10% 3.98% 3.73% 3.43% 3.14%
-------------- --------------- ------------- --------------- --------------
Tax-equivalent net interest revenue spread 2.83% 2.93% 2.98% 2.99% 2.98%
Effect of noninterest-bearing funding sources
and other 0.42% 0.45% 0.42% 0.40% 0.36%
-------------- --------------- ------------- --------------- --------------
Tax-equivalent net interest margin 3.25% 3.38% 3.40% 3.39% 3.34%
============== =============== ============= =============== ==============
CREDIT QUALITY INDICATORS
BOK FINANCIAL CORPORATION
(In thousands, except ratios)
Quarter Ended
-------------------------------------------------------------------------------
December 31, September 30, June 30, March 31, December 31,
2006 2006 2006 2006 2005
-------------- --------------- ------------- --------------- --------------
Nonperforming assets:
Nonaccruing loans $ 26,055 $ 30,476 $ 30,976 $ 32,229 $ 25,162
Renegotiated loans 1,111 1,064 - - -
Real estate and other repossessed assets 8,486 9,322 8,257 8,196 8,476
-------------- --------------- ------------- --------------- --------------
Total nonperforming assets $ 35,652 $ 40,862 $ 39,233 $ 40,425 $ 33,638
============== =============== ============= =============== ==============
Performing loans 90 days past due $ 5,945 $ 5,076 $ 9,630 $ 3,919 $ 8,708
Gross charge-offs $ 5,867 $ 8,099 $ 5,881 $ 4,149 $ 9,579
Recoveries 3,079 3,803 2,085 2,564 2,164
-------------- --------------- ------------- --------------- --------------
Net charge-offs $ 2,788 $ 4,296 $ 3,796 $ 1,585 $ 7,415
============== =============== ============= =============== ==============
Provision for credit losses $ 5,953 $ 5,254 $ 3,795 $ 3,400 $ 4,450
Reserve for loan losses to period end loans (A) 1.03% 1.06% 1.07% 1.14% 1.14%
Combined reserves for credit losses to period
end loans 1.22% 1.28% 1.30% 1.38% 1.37%
Nonperforming assets to period end loans (A)
and repossessed assets 0.33% 0.41% 0.40% 0.44% 0.37%
Net charge-offs (annualized) to average loans (A) 0.11% 0.18% 0.16% 0.07% 0.33%
Reserve for loan losses to nonaccruing loans 420.25% 346.06% 337.44% 323.13% 412.83%
Combined reserves for credit losses to
nonaccruing loans 500.43% 417.45% 407.62% 391.77% 494.60%
(A) excluding residential mortgage loans held for sale