BOK Financial Corporation

{{short description|American bank}} {{Use mdy dates|date=March 2021}} {{Infobox company | name = BOK Financial Corporation | image = The BOK Building.jpg | logo = BOK Financial logo.svg | image_size = 200px | image_caption = BOK Tower | type = Public | traded_as = {{NASDAQ|BOKF}} Russell 1000 Index component | foundation = {{Start date and age|1910}}, as Exchange National Bank of Tulsa {{Start date and age|1990}}, rebranded as BOK Financial Corporation | key_people = {{unbulleted list|George Kaiser (chairman)|Stacy Kymes (CEO & president)|Marty Grunst (CFO)}} | industry = Banking | location = BOK Tower | hq_location_city = Tulsa, Oklahoma | hq_location_country = United States | areas_served = Nationwide service area with bank operations in Arizona, Arkansas, Colorado, Kansas, Missouri, New Mexico, Oklahoma, Texas | revenue = {{increase}} US$2.02 billion (fiscal year ended 31 December 2023)<ref name=10K2023 /> | net_income = {{increase}} US$530.7 million (fiscal year ended 31 December 2023)<ref name= 10K2023 /> | assets = {{increase}} $49.8 billion (fiscal year ended 31 December 2023)<ref name= 10K2023 /> | equity = {{increase}} $5.1 billion (fiscal year ended 31 December 2023)<ref name= 10K2023 /> | aum = {{increase}} US$104.7 billion (fiscal year ended 31 December 2023)<ref name=10K2023 /> | num_employees = 4,966 (2023-12-31) | owner = George Kaiser (53%) | homepage = {{URL|www.bokf.com/}} | footnotes = <ref name=10K2023>{{cite web | url=https://www.sec.gov/ix?doc=/Archives/edgar/data/875357/000087535724000008/bokf-20231231.htm | title=BOK Financial Corporation 2023 Form 10-K Annual Report | publisher=U.S. Securities and Exchange Commission}}</ref> }}

'''BOK Financial Corporation''' — pronounced as letters, "B-O-K" — is a financial services holding company headquartered in Tulsa, Oklahoma. Offering a full complement of retail and commercial banking products and services across the American Midwest and Southwest, the company is one of the 50 largest financial services firms in the U.S.,<ref>{{cite news|title=Federal Reserve Statistical Release – Large Commercial Banks |url=https://www.federalreserve.gov/releases/lbr/current/ |date=31 December 2021|access-date=2021-05-25}}</ref> and the largest in Oklahoma.

The company's banking subsidiary, BOKF, NA, operates under the brands Bank of Oklahoma, Bank of Texas, and Bank of Albuquerque, and it operates as BOK Financial in Arizona, Arkansas, Colorado, Kansas, and Missouri.<ref>{{cite press release | url=https://investor.bokf.com/file/Index?KeyFile=400674793 | title=BOK Financial Opportunity Banking receives national certification | publisher=BOK Financial Corporation | date=May 5, 2022 }}{{Dead link|date=July 2025 |bot=InternetArchiveBot |fix-attempted=yes }}</ref> It also operates ATM and debit card processor TransFund, Cavanal Hill Investment Management, BOK Financial Securities, BOK Financial Advisors, BOK Financial Insurance, and BOK Financial Asset Management.

The company is more than 50% owned by George Kaiser, who acquired the bank in 1991 from the FDIC. Known for its energy roots, as of June 30, 2021, 14% of its loan portfolio was to borrowers in the petroleum industry.

==History== BOK Financial was formed in 1910 primarily as a source of capital for the energy industry and broadened its geographic and market reach to become one of the largest and most multifaceted regional financial institutions in the country.

The company traces its roots to the Exchange National Bank of Tulsa, which was formed in 1910.<ref>{{cite news | url=https://www.nytimes.com/1909/12/15/archives/oklahoma-banks-closed-state-concern-forced-to-the-wall-by-failure.html | title=OKLAHOMA BANKS CLOSED: State Concern Forced to the Wall by Failure of National Bank | work=The New York Times | date=December 15, 1909}}{{subscription required}}</ref><ref name=100years>{{cite news | url=http://www.tulsaworld.com/business/moneypower/bank-of-oklahoma-celebrates-years/article_dc191484-8233-5279-91eb-643446f8518d.html | title=Bank of Oklahoma celebrates 100 years | first=LAURIE | last=WINSLOW | work=Tulsa World | date=November 14, 2010}}{{subscription required}}</ref> In 1917, Exchange National Bank began construction of a headquarters building in Tulsa at Third Street and Boston Avenue. In 1928, the bank constructed a 28-story tower adjacent to the initial building. The combined structure, since renamed the 320 South Boston Building, remained the tallest building in Tulsa until 1967.<ref>{{cite web | url=https://historictulsa.blogspot.com/2011/02/bank-at-320-south-boston.html | title=Historic Tulsa: The Bank at 320 South Boston}}</ref> The bank has continuously operated a branch in the building since then.

The bank was rebranded as National Bank of Tulsa in 1933<ref name=100years/><ref>{{cite news | url=http://www.tulsaworld.com/archives/tulsa-weathered-other-failures/article_8a2db498-8eb6-5f87-86cc-0949697da0d0.html | title=Tulsa weathered other failures | first=GINNIE | last=GRAHAM | work=Tulsa World | date=August 30, 2008}}{{subscription required}}</ref> and in 1975 to Bank of Oklahoma to reflect its statewide approach. Also in 1975, the bank installed the first automated teller machine in Oklahoma.<ref name=100years/><ref>{{Citation|chapter=The Panic of 1907 and the Savings and Loan Crisis|publisher=Palgrave Macmillan|isbn=9781137401229|doi=10.1057/9781137401229.0008|title=The Financial Crisis and Federal Reserve Policy|year=2013}}</ref> The following year, the company began moving employees into the new BOK Tower and in 1979, the bank reached $1 billion in assets.<ref name=100years/>

Five years later, in 1984, the company purchased Fidelity of Oklahoma and reached $3 billion in assets.<ref name=100years/> Shortly after, the Bank was in danger of failing as the Oklahoma energy market went into depression.<ref name=":0">{{Cite news |last1=Nash |first1=Nathaniel C. |date=1986-08-16 |title=OKLAHOMA BANK GIVEN $130 MILLION |work=The New York Times |url=https://www.nytimes.com/1986/08/16/business/oklahoma-bank-given-130-million.html |access-date=2023-03-07 |issn=0362-4331}}</ref><ref name=":1">{{Cite web |title=FDIC TO BAIL OUT OKLAHOMA BANK |url=https://www.chicagotribune.com/news/ct-xpm-1986-08-16-8603010491-story.html |access-date=2023-03-07 |website=Chicago Tribune}}</ref><ref name=":2">{{Cite news |last=Jr |first=James L. Rowe |date=1986-08-16 |title=FDIC Moves to Rescue Okla. Bank |newspaper=Washington Post |url=https://www.washingtonpost.com/archive/business/1986/08/16/fdic-moves-to-rescue-okla-bank/642917db-70f2-4609-82b8-434ab1e0a294/ |access-date=2023-03-07 |issn=0190-8286}}</ref>

In 1986, the Federal Deposit Insurance Corp bailed the Bank of Oklahoma out<ref name=":3">{{Cite news |last=Henriques |first=Diana B. |date=1990-11-11 |title=Wall Street; A Well-Informed Lucky Break |work=The New York Times |url=https://www.nytimes.com/1990/11/11/business/wall-street-a-well-informed-lucky-break.html |access-date=2023-03-07 |issn=0362-4331}}</ref> for a total cost of $130 million<ref name=":0" /> in a move hailed as an innovative response.<ref name=":0" /> It was only the eighth time in the past 50 years that the FDIC has acted to keep a troubled bank afloat rather than allow it to fail.<ref name=":2" /> Bank of Oklahoma and Bank of Oklahoma, Tulsa were merged,<ref name=":1" /><ref name=":2" /><ref name=":3" /> and the FDIC received preferred shares convertible into a 99.99 percent ownership stake in the merged institution.<ref name=":3" /> On June 7, 1991, with the company's assets totaling just under $2 billion, it was acquired by George Kaiser, who had served on the bank's board of directors, for $60.7 million in a sale facilitated by the FDIC.<ref name=":3" /><ref>{{Cite web |last=Martin |first=Stacy |title=State Bank Acquisition Approved |url=https://www.oklahoman.com/story/news/1991/06/08/state-bank-acquisition-approved/62525735007/ |access-date=2023-03-07 |website=The Oklahoman }}</ref>

Under Kaiser's ownership, the institution became BOK Financial<ref>{{Cite web |last=BOK Financial Corporation |date=2020-03-15 |title=BOK Financial Information Packet |url=https://www.bokfinancial.com/-/media/Files/PDF/COVID-19/Company-Information-Packet.ashx |access-date=7 March 2023 |website=Bokfinancial.com}}</ref> and developed a strategy to locate in growing markets near Oklahoma.<ref name="100years" /><ref name="25years">{{cite news | url=http://www.tulsaworld.com/business/finance/bok-financial-experiences-years-of-growth-under-george-kaiser/article_76afdfdb-51df-5c67-a383-030c992adf5f.html | title=BOK Financial experiences 25 years of growth under George Kaiser | first=SAMUEL | last=HARDIMAN | work=Tulsa World | date=June 7, 2016}}</ref>

In 2005, the company acquired the naming rights for the BOK Center for $11 million.<ref>{{cite news |last=Mecoy |first=Don |date=October 28, 2005 |title=BOK will pay $11 million to name Tulsa arena |work=The Oklahoman |url=http://newsok.com/article/2917421}}</ref>

On June 25, 2025 BOK Financial was named the official bank partner of Colorado Athletics.<ref>{{Cite web |last=Beovich |first=Eric |date=2025-06-25 |title=BOK Financial Named the Official Banking Partner of Colorado Athletics |url=https://www.learfield.com/2025/06/bok-financial-named-the-official-banking-partner-of-colorado-athletics/ |access-date=2025-06-25 |website=Learfield |language=en-US}}</ref>

==Footprint and family of brands== Beginning in 1994, the company steadily expanded its footprint beyond Oklahoma, with moves into: * Arkansas in 1994 through the acquisition of a bank holding company with operations in northwest Arkansas.<ref name=100years/> * Texas through the acquisition of two banks that were merged and renamed Bank of Texas in 1997.<ref>{{cite news | url=https://www.oklahoman.com/story/news/1999/03/02/bok-financial-acquires-two-dallas-companies/62251334007/ | title=BOK Financial Acquires Two Dallas Companies | work=The Oklahoman | date=March 2, 1999}}</ref><ref name=":4">{{Cite web |last=Boyd |first=Danny M. |title=BOK Financial Corp Announces Acquisition |url=https://www.oklahoman.com/story/news/1998/07/28/bok-financial-corp-announces-acquisition/62274245007/ |access-date=2023-03-07 |website=The Oklahoman }}</ref> * New Mexico in 1998 with the acquisition of 17 branches<ref name=100years/> from BankAmericaCorp that were renamed Bank of Albuquerque.<ref name=":4" /> * Colorado in 2003 with the formation of Colorado State Bank<ref name=100years/> and the acquisition in October 2018 of Colorado-based CoBiz Financial, previously Colorado Business Bank.<ref>{{Cite web |date=2022-03-22 |title='A Bank For All People': Remembering The Women's Bank |url=https://history.denverlibrary.org/news/womens-bank |access-date=2023-03-07 |website=Denver Public Library History }}</ref> The Colorado and Arizona operations were rebranded as "BOK Financial" in 2018.<ref>{{cite press release |url=https://www.globenewswire.com/news-release/2018/06/18/1525636/0/en/BOK-Financial-Corporation-to-Acquire-CoBiz-Financial.html |title=BOK Financial Corporation to Acquire CoBiz Financial |publisher=GlobeNewswire |date=June 18, 2018}}</ref> * Arizona in 2005 with the formation of Bank of Arizona.<ref name=100years/> * Missouri in 2016 through the acquisition of MBT Bancshares, the parent company of Missouri Bank and Trust of Kansas City.<ref>{{cite press release | url=https://globenewswire.com/news-release/2016/11/16/890601/0/en/BOK-Financial-Receives-Regulatory-Approvals-to-Acquire-MBT-Bancshares.html | title=BOK Financial Receives Regulatory Approvals to Acquire MBT Bancshares | publisher=GlobeNewswire | date=November 16, 2016}}</ref>

In October, 2019 the company rebranded its operations in Arkansas, Kansas, and Missouri as BOK Financial.<ref>{{Cite web |last=Corporation |first=BOK Financial |date=2019-10-28 |title=Bank of Arkansas to Rebrand to BOK Financial |url=https://www.globenewswire.com/en/news-release/2019/10/28/1936449/0/en/Bank-of-Arkansas-to-Rebrand-to-BOK-Financial.html |access-date=2023-03-07 |website=GlobeNewswire News Room }}</ref><ref>{{Cite web |last=Corporation |first=BOK Financial |date=2019-10-28 |title=Mobank to Rebrand to BOK Financial |url=https://www.globenewswire.com/news-release/2019/10/28/1936451/0/en/Mobank-to-Rebrand-to-BOK-Financial.html |access-date=2023-03-07 |website=GlobeNewswire News Room }}</ref>

[[Image:BOK Center faccade.JPG|thumb|Tulsa's BOK Center, designed by noted architect César Pelli.]]

==Specialty lines of business== In addition to its legacy energy financing expertise, BOK Financial specializes in healthcare-related finance, offering financial and banking services to owners and operators of senior housing and care facilities, hospitals, and health systems, as well as to physicians and specialized practices.<ref>{{Cite web |title=Healthcare Financial Services |url=https://www.bokfinancial.com/commercial/commercial-and-institutional-financial-solutions/our-industry-expertise/healthcare |access-date=2023-03-07 |website=www.bokfinancial.com }}</ref>

BOK Financial works with tribal nations and governments to facilitate financial solutions for healthcare, education, and tribal infrastructure purposes. With more than 45 tribal relationships across the U.S., the company has helped raise more than $3 billion for tribal projects in recent years. BOK Financial currently manages more than $4 billion in assets for tribal governments and business.

==References== {{Reflist|1}}

==External links== {{Finance links | name = BOK Financial Corporation | google = BOKF | yahoo = BOKF | bloomberg = BOKF:US | symbol = BOKF | sec_cik = BOKF }} {{Portal|Banks}}

{{DEFAULTSORT:Bok Financial Corporation}} Category:American companies established in 1990 Category:Banks established in 1990 Category:1990 establishments in Oklahoma Category:Banks based in Oklahoma Category:Companies based in Tulsa, Oklahoma Category:Companies listed on the Nasdaq