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BOK Financial Q1 Earnings Beat Estimates as NII & Fee Income Rise Y/Y
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Key Takeaways
BOKF's Q1 EPS of $2.58 beat estimates, rising 38.7% on higher NII, fees and loan growth.
Net revenues rose 10.3% as NII grew 8.3% and fees jumped 13.9%, lifting margins and profitability.
Loans increased 2.1% but deposits fell 1.9%, while expenses rose and credit metrics were mixed.
BOK Financial Corporation's (BOKF - Free Report) first-quarter 2026 earnings of $2.58 per share surpassed the Zacks Consensus Estimate of $2.30. The bottom line jumped 38.7% from the prior-year quarter.
BOKF’s results benefited from higher net interest income (NII) and total fees and commissions. An increase in loans was another positive. However, the rise in operating expenses was a major undermining factor.
Net income attributable to shareholders was $155.7 million, which rose 30% year over year.
BOK Financial’s Revenues & Expenses Rise
Quarterly net revenues of $553.8 million (net interest income and total other operating revenues) rose 10.3% year over year. The top line surpassed the Zacks Consensus Estimate of $546.8 million.
Net interest income was $342.6 million, up 8.3% year over year. The net interest margin expanded 12 basis points to 2.90%.
Total fees and commissions were $209.8 million, up 13.9% year over year. The rise was driven by an increase in almost all components except other revenues.
Total other operating expenses were $354.2 million, up 1.9% year over year. This rise was mainly driven by business promotion, professional fees and services, net occupancy and equipment, data processing and communications, printing, postage, and supplies, mortgage banking costs and other expense.
The efficiency ratio was 63.21% compared with the prior year quarter’s 68.31%. A fall in the efficiency ratio indicates a rise in profitability.
BOKF’s Loans Rise & Deposits Decline Sequentially
As of March 31, 2026, total loans were $26.2 billion, up 2.1% from the prior quarter. The increase was driven by growth in commercial loans, commercial real estate loans and loans to individuals.
Total deposits were $38.7 billion, down 1.9% sequentially. The decline was due to lower demand and interest-bearing transaction deposits, partially offset by growth in time and savings deposits.
BOKF Credit Quality: Mixed Bag
As of March 31, 2026, non-performing assets were $60 million or 0.23% of outstanding loans and repossessed assets compared with $85.3 million or 0.36% 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 $1.9 million compared with $1.1 million in the year-ago quarter.
The allowance for loan losses was 1.06% of outstanding loans as of March 31, 2026, which declined 12 bps from the year-ago quarter.
BOKF’s Capital Ratios Decline & Profitability Ratios Improve
As of March 31, 2026, the common equity Tier 1 capital ratio was 12.61% compared with 13.31% a year earlier. The tier 1 capital ratio and total capital ratio were 12.61% and 14.39%, respectively, compared with 13.31% and 14.54%, as of March 31, 2025.
At the end of the first quarter, return on average equity was 10.49%, up from the year-earlier quarter’s 8.59%. Return on average assets was 1.19%, up from 0.95% a year ago.
BOK Financial’s Share Repurchase Update
The company did not repurchase any shares during the first quarter of 2026.
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 (FHN - Free Report) posted first-quarter 2026 earnings per share of 53 cents, surpassing the Zacks Consensus Estimate of 49 cents. This compares favorably with 42 cents in the year-ago quarter.
FHN’s results benefited from higher NII and a rise in non-interest income, along with improved credit quality. However, the rise in expenses remains a headwind.
M&T Bank Corporation (MTB - Free Report) reported first-quarter 2026 net operating earnings per share of $4.18, which beat the Zacks Consensus Estimate of $4.02. The bottom line compared favorably with earnings of $3.38 per share in the year-ago quarter.
Results were aided by higher NII and a rise in non-interest income on a year-over-year basis, along with modest loan growth. However, a decline in deposits, higher provisions for credit losses, and elevated expenses acted as headwinds for MTB.
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BOK Financial Q1 Earnings Beat Estimates as NII & Fee Income Rise Y/Y
Key Takeaways
BOK Financial Corporation's (BOKF - Free Report) first-quarter 2026 earnings of $2.58 per share surpassed the Zacks Consensus Estimate of $2.30. The bottom line jumped 38.7% from the prior-year quarter.
BOKF’s results benefited from higher net interest income (NII) and total fees and commissions. An increase in loans was another positive. However, the rise in operating expenses was a major undermining factor.
Net income attributable to shareholders was $155.7 million, which rose 30% year over year.
BOK Financial’s Revenues & Expenses Rise
Quarterly net revenues of $553.8 million (net interest income and total other operating revenues) rose 10.3% year over year. The top line surpassed the Zacks Consensus Estimate of $546.8 million.
Net interest income was $342.6 million, up 8.3% year over year. The net interest margin expanded 12 basis points to 2.90%.
Total fees and commissions were $209.8 million, up 13.9% year over year. The rise was driven by an increase in almost all components except other revenues.
Total other operating expenses were $354.2 million, up 1.9% year over year. This rise was mainly driven by business promotion, professional fees and services, net occupancy and equipment, data processing and communications, printing, postage, and supplies, mortgage banking costs and other expense.
The efficiency ratio was 63.21% compared with the prior year quarter’s 68.31%. A fall in the efficiency ratio indicates a rise in profitability.
BOKF’s Loans Rise & Deposits Decline Sequentially
As of March 31, 2026, total loans were $26.2 billion, up 2.1% from the prior quarter. The increase was driven by growth in commercial loans, commercial real estate loans and loans to individuals.
Total deposits were $38.7 billion, down 1.9% sequentially. The decline was due to lower demand and interest-bearing transaction deposits, partially offset by growth in time and savings deposits.
BOKF Credit Quality: Mixed Bag
As of March 31, 2026, non-performing assets were $60 million or 0.23% of outstanding loans and repossessed assets compared with $85.3 million or 0.36% 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 $1.9 million compared with $1.1 million in the year-ago quarter.
The allowance for loan losses was 1.06% of outstanding loans as of March 31, 2026, which declined 12 bps from the year-ago quarter.
BOKF’s Capital Ratios Decline & Profitability Ratios Improve
As of March 31, 2026, the common equity Tier 1 capital ratio was 12.61% compared with 13.31% a year earlier. The tier 1 capital ratio and total capital ratio were 12.61% and 14.39%, respectively, compared with 13.31% and 14.54%, as of March 31, 2025.
At the end of the first quarter, return on average equity was 10.49%, up from the year-earlier quarter’s 8.59%. Return on average assets was 1.19%, up from 0.95% a year ago.
BOK Financial’s Share Repurchase Update
The company did not repurchase any shares during the first quarter of 2026.
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 #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Banks
First Horizon Corporation (FHN - Free Report) posted first-quarter 2026 earnings per share of 53 cents, surpassing the Zacks Consensus Estimate of 49 cents. This compares favorably with 42 cents in the year-ago quarter.
FHN’s results benefited from higher NII and a rise in non-interest income, along with improved credit quality. However, the rise in expenses remains a headwind.
M&T Bank Corporation (MTB - Free Report) reported first-quarter 2026 net operating earnings per share of $4.18, which beat the Zacks Consensus Estimate of $4.02. The bottom line compared favorably with earnings of $3.38 per share in the year-ago quarter.
Results were aided by higher NII and a rise in non-interest income on a year-over-year basis, along with modest loan growth. However, a decline in deposits, higher provisions for credit losses, and elevated expenses acted as headwinds for MTB.