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BOK Financial Q4 Earnings Beat Estimates on Higher NII & Fee Income
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Key Takeaways
BOKF reported Q4 adjusted net income of $2.48 per share, beating estimates and rising 16.9% year over year.
BOK Financial benefited from higher net interest income and fees, supported by growth in loans and deposits.
BOKF's loans rose 3.2% sequentially to $25.6B, while deposits increased 2.4% to $39.4B in Q4.
BOK Financial Corporation's (BOKF - Free Report) fourth-quarter 2025 adjusted net income per share of $2.48 surpassed the Zacks Consensus Estimate of $2.13. The bottom line increased 16.9% from the prior-year quarter.
BOKF’s results benefited from higher net interest income (NII) and total fees and commissions. An increase in loans and deposit balances was another positive. However, the increase in operating expenses was a major undermining factor.
The results of the reported quarter excluded a gain from the sale of a merchant banking investment as well as a benefit related to the FDIC special assessment. After considering this, net income attributable to shareholders was $177.3 million, which rose 30.2% year over year.
For 2025, net income per share was $9.17, which compares favorably with $8.14 reported in the prior year. The company reported net income available to its common shareholders of $577.9 million, which increased 10.4% year over year.
BOKF’s Q4 Revenues & Expenses Rise
Quarterly net revenues of $589.6 million (net interest income and total other operating revenues) rose 12.7% year over year. The top line surpassed the Zacks Consensus Estimate of $543 million.
Full-year revenues aggregated to $2.17 billion, which increased 7% year over year.
Net interest income was $345.3 million, up 10.3% year over year. The net interest margin expanded 23 basis points to 2.98%.
Total fees and commissions were $214.9 million, up 3.8% year over year. The rise was driven by an increase in almost all components.
Total other operating expenses were $361.1 million, up 3.8% year over year. This rise was mainly driven by higher personnel expenses.
The efficiency ratio rose to 60.71% from the prior year quarter’s 65.61%. A fall in the efficiency ratio indicates a rise in profitability.
BOK Financial’s Loan Balance & Deposits Rise
As of Dec. 31, 2025, total loans were $25.6 billion, up 3.2% from the prior quarter. The increase was primarily due to growth in commercial loans and loans to individuals.
Total deposits rose 2.4% on a sequential basis to $39.4 billion. The increase was driven by higher interest-bearing transaction accounts, demand deposits and savings deposits.
BOKF Credit Quality: Mixed Bag
As of Dec. 31, 2025, non-performing assets were $74.5 million or 0.29% of outstanding loans and repossessed assets compared with $48.9 million or 0.20% in the prior-year quarter.
The company recorded nil provisions for credit losses, unchanged from the prior-year quarter.
The company recorded net charge-offs of $1.4 million compared with $528 thousand in the year-ago quarter.
The allowance for loan losses was 1.08% of outstanding loans as of Dec. 31, 2025, which declined 8 bps from the year-ago quarter.
BOKF’s Capital Ratios Decline & Profitability Ratios Improve in Q4
As of Dec. 31, 2025, the common equity Tier 1 capital ratio was 12.89% compared with 13.03% a year earlier. The tier 1 capital ratio and total capital ratio were 12.90% and 14.77%, respectively, compared with 13.04% and 14.21%, as of Dec. 31, 2024.
At the end of the fourth quarter, return on average equity was 11.80%, up from the year-earlier quarter’s 9.71%. Return on average assets was 1.36%, up from 1.07% a year ago.
BOK Financial’s Share Repurchase Update
During the reported quarter, BOK Financial repurchased 2,617,414 shares at an average price of $107.99 per share.
Our View on BOK Financial
BOK Financial’s higher net interest income and solid loan balances continue to support overall performance. The company’s improving profitability ratios are positive. However, rising operating expenses pose a near-term concern.
BOK Financial Corporation Price, Consensus and EPS Surprise
First Horizon Corporation’s (FHN - Free Report) fourth-quarter 2025 adjusted earnings per share of 52 cents surpassed the Zacks Consensus Estimate of 47 cents. This compares favorably with 43 cents in the year-ago quarter.
FHN’s results benefited from higher NII and a significant rise in non-interest income, along with the absence of provision for credit losses. However, the rise in expenses remains a headwind.
M&T Bank Corporation (MTB - Free Report) reported fourth-quarter 2025 net operating earnings per share of $4.72, which beat the Zacks Consensus Estimate of $4.44. The bottom line compared favorably with earnings of $3.92 per share in the year-ago quarter.
MTB’s results were aided by higher non-interest income and a rise in NII on a year-over-year basis, along with modest loan growth and higher deposits. A decline in provisions for credit losses was also a tailwind. However, an increase in expenses acted as a headwind.
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BOK Financial Q4 Earnings Beat Estimates on Higher NII & Fee Income
Key Takeaways
BOK Financial Corporation's (BOKF - Free Report) fourth-quarter 2025 adjusted net income per share of $2.48 surpassed the Zacks Consensus Estimate of $2.13. The bottom line increased 16.9% from the prior-year quarter.
BOKF’s results benefited from higher net interest income (NII) and total fees and commissions. An increase in loans and deposit balances was another positive. However, the increase in operating expenses was a major undermining factor.
The results of the reported quarter excluded a gain from the sale of a merchant banking investment as well as a benefit related to the FDIC special assessment. After considering this, net income attributable to shareholders was $177.3 million, which rose 30.2% year over year.
For 2025, net income per share was $9.17, which compares favorably with $8.14 reported in the prior year. The company reported net income available to its common shareholders of $577.9 million, which increased 10.4% year over year.
BOKF’s Q4 Revenues & Expenses Rise
Quarterly net revenues of $589.6 million (net interest income and total other operating revenues) rose 12.7% year over year. The top line surpassed the Zacks Consensus Estimate of $543 million.
Full-year revenues aggregated to $2.17 billion, which increased 7% year over year.
Net interest income was $345.3 million, up 10.3% year over year. The net interest margin expanded 23 basis points to 2.98%.
Total fees and commissions were $214.9 million, up 3.8% year over year. The rise was driven by an increase in almost all components.
Total other operating expenses were $361.1 million, up 3.8% year over year. This rise was mainly driven by higher personnel expenses.
The efficiency ratio rose to 60.71% from the prior year quarter’s 65.61%. A fall in the efficiency ratio indicates a rise in profitability.
BOK Financial’s Loan Balance & Deposits Rise
As of Dec. 31, 2025, total loans were $25.6 billion, up 3.2% from the prior quarter. The increase was primarily due to growth in commercial loans and loans to individuals.
Total deposits rose 2.4% on a sequential basis to $39.4 billion. The increase was driven by higher interest-bearing transaction accounts, demand deposits and savings deposits.
BOKF Credit Quality: Mixed Bag
As of Dec. 31, 2025, non-performing assets were $74.5 million or 0.29% of outstanding loans and repossessed assets compared with $48.9 million or 0.20% in the prior-year quarter.
The company recorded nil provisions for credit losses, unchanged from the prior-year quarter.
The company recorded net charge-offs of $1.4 million compared with $528 thousand in the year-ago quarter.
The allowance for loan losses was 1.08% of outstanding loans as of Dec. 31, 2025, which declined 8 bps from the year-ago quarter.
BOKF’s Capital Ratios Decline & Profitability Ratios Improve in Q4
As of Dec. 31, 2025, the common equity Tier 1 capital ratio was 12.89% compared with 13.03% a year earlier. The tier 1 capital ratio and total capital ratio were 12.90% and 14.77%, respectively, compared with 13.04% and 14.21%, as of Dec. 31, 2024.
At the end of the fourth quarter, return on average equity was 11.80%, up from the year-earlier quarter’s 9.71%. Return on average assets was 1.36%, up from 1.07% a year ago.
BOK Financial’s Share Repurchase Update
During the reported quarter, BOK Financial repurchased 2,617,414 shares at an average price of $107.99 per share.
Our View on BOK Financial
BOK Financial’s higher net interest income and solid loan balances continue to support overall performance. The company’s improving profitability ratios are positive. However, rising operating expenses pose a near-term concern.
BOK Financial Corporation Price, Consensus and EPS Surprise
BOK Financial Corporation price-consensus-eps-surprise-chart | BOK Financial Corporation Quote
Currently, BOK Financial carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Banks
First Horizon Corporation’s (FHN - Free Report) fourth-quarter 2025 adjusted earnings per share of 52 cents surpassed the Zacks Consensus Estimate of 47 cents. This compares favorably with 43 cents in the year-ago quarter.
FHN’s results benefited from higher NII and a significant rise in non-interest income, along with the absence of provision for credit losses. However, the rise in expenses remains a headwind.
M&T Bank Corporation (MTB - Free Report) reported fourth-quarter 2025 net operating earnings per share of $4.72, which beat the Zacks Consensus Estimate of $4.44. The bottom line compared favorably with earnings of $3.92 per share in the year-ago quarter.
MTB’s results were aided by higher non-interest income and a rise in NII on a year-over-year basis, along with modest loan growth and higher deposits. A decline in provisions for credit losses was also a tailwind. However, an increase in expenses acted as a headwind.