EX-99 3 fs093004.txt (B) FINANCIAL INFORMATION BOK FINANCIAL CORPORATION (In thousands, except ratio and per share data) Period End Balances Average Balances ----------------------------------- --------------------------------- September 30, Quarter Ended September 30, ----------------------------------- --------------------------------- BALANCE SHEETS 2004 2003 2004 2003 --------------- --------------- -------------- ---------------- ASSETS Cash and due from banks $ 521,697 $ 584,905 $ 520,302 $ 450,266 Trading securities 12,742 19,238 14,956 27,830 Funds sold 49,674 22,200 23,334 32,491 Securities: Available for sale 4,695,510 4,009,524 4,653,067 4,359,948 Held for investment 218,886 192,877 214,558 187,219 --------------- --------------- -------------- ---------------- Total securities 4,914,396 4,202,401 4,867,625 4,547,167 Loans: Commercial 4,498,449 4,180,222 4,424,742 4,083,164 Commercial real estate 1,621,124 1,572,083 1,594,867 1,535,549 Residential mortgage 1,202,814 1,111,115 1,182,943 1,085,425 Consumer 461,779 428,136 454,036 418,073 ---------------- ---------------- --------------- ----------------- Total loans 7,784,166 7,291,556 7,656,588 7,122,211 Less allowance for loan losses (129,111) (126,971) (130,896) (125,966) ---------------- ---------------- --------------- ----------------- Total loans, net 7,655,055 7,164,585 7,525,692 6,996,245 Premises and equipment, net 171,617 167,813 172,030 162,395 Accrued revenue receivable 71,982 59,575 65,578 58,595 Intangible assets, net 244,483 251,470 245,806 205,849 Mortgage servicing rights, net 46,227 48,392 49,791 47,689 Real estate and other repossessed assets 6,038 7,920 6,317 6,218 Receivable on unsettled securities transactions 22,589 260,961 1,976 28,303 Bankers' acceptances 24,105 45,810 19,527 39,338 Derivative contracts 419,882 111,406 334,006 133,498 Other assets 217,550 154,120 215,557 120,745 --------------- --------------- -------------- ---------------- TOTAL ASSETS $ 14,378,037 $ 13,100,796 $ 14,062,497 $ 12,856,629 =============== =============== ============== ================ LIABILITIES AND SHAREHOLDERS' EQUITY Deposits: Demand $ 1,856,432 $ 1,566,376 $ 1,839,311 $ 1,323,641 Interest-bearing transaction 3,859,901 3,698,527 3,931,166 3,715,035 Savings 163,008 180,805 169,398 170,796 Time deposits 3,660,100 3,481,517 3,712,161 3,423,920 --------------- --------------- -------------- ---------------- Total deposits 9,539,441 8,927,225 9,652,036 8,633,392 Federal funds purchased and repurchase agreements 1,717,639 1,437,902 1,458,245 1,529,721 Other borrowed funds 1,022,347 1,098,647 1,003,050 1,062,734 Subordinated debentures 153,121 154,756 152,333 154,865 Accrued interest, taxes, and expenses 57,228 68,583 60,978 86,058 Bankers' acceptances 24,105 45,810 19,527 39,338 Derivative contracts 425,532 109,592 342,887 130,762 Other liabilities 81,965 70,874 77,931 58,425 --------------- --------------- -------------- ---------------- TOTAL LIABILITIES 13,021,378 11,913,389 12,766,987 11,695,295 Shareholders' Equity: Shareholders' equity 1,358,640 1,181,620 1,321,496 1,142,690 Unrealized securities gains (losses) (1,981) 5,787 (25,986) 18,644 --------------- --------------- -------------- ---------------- TOTAL SHAREHOLDERS' EQUITY 1,356,659 1,187,407 1,295,510 1,161,334 --------------- --------------- -------------- ---------------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 14,378,037 $ 13,100,796 $ 14,062,497 $ 12,856,629 =============== =============== ============== ================
For the Quarter Ended For the Nine Months Ended ----------------------------------- --------------------------------- September 30, September 30, ----------------------------------- --------------------------------- STATEMENTS OF EARNINGS 2004 2003 2004 2003 --------------- --------------- -------------- ---------------- Interest revenue $ 157,842 $ 137,804 $ 451,197 $ 421,290 Interest expense 49,457 41,272 134,416 131,000 --------------- --------------- -------------- ---------------- Net interest revenue 108,385 96,532 316,781 290,290 Provision for loan losses 4,986 8,220 16,000 27,635 --------------- --------------- -------------- ---------------- Net interest revenue after provision for loan losses 103,399 88,312 300,781 262,655 Other operating revenue Brokerage and trading revenue 10,209 12,220 31,386 31,893 Transaction card revenue 16,677 14,260 48,218 40,995 Trust fees and commissions 15,091 11,762 42,739 32,787 Service charges and fees on deposit accounts 24,292 21,106 70,375 59,696 Mortgage banking revenue, net 6,606 12,735 21,905 44,879 Leasing revenue 723 949 2,470 2,603 Other revenue 5,243 7,098 17,641 17,313 --------------- --------------- -------------- ---------------- Total fees and commissions 78,841 80,130 234,734 230,166 Gain on sale of other assets 78 14 797 752 Gain (loss) on sales of securities, net 2,673 (12,007) (4,055) 8,139 Gain (loss) on derivatives (506) (4,709) (1,300) (7,116) --------------- --------------- -------------- ---------------- Total other operating revenue 81,086 63,428 230,176 231,941 Other operating expense Personnel 60,524 56,915 178,543 164,283 Business promotion 3,671 2,912 10,852 9,164 Contribution of stock to BOk Charitable Foundation - - 4,125 - Professional fees and services 3,658 4,454 11,551 13,623 Net occupancy and equipment 11,733 11,600 35,316 33,901 Data processing and communications 14,918 13,008 44,829 37,668 FDIC and other insurance 602 589 1,873 1,635 Printing, postage and supplies 3,770 3,459 10,217 10,341 Net (gains) losses and operating expenses on repossessed assets (305) 283 (360) 626 Amortization of intangible assets 1,991 1,959 6,250 5,513 Mortgage banking costs 3,962 8,268 14,238 34,191 Provision (recovery) for impairment of mortgage servicing rights 5,900 (16,186) (1,262) (20,663) Other expense 3,778 3,871 13,470 12,549 --------------- --------------- -------------- ---------------- Total other operating expense 114,202 91,132 329,642 302,831 Income before taxes 70,283 60,608 201,315 191,765 Federal and state income taxes 22,501 21,792 68,848 68,707 --------------- --------------- -------------- ---------------- Net Income $ 47,782 $ 38,816 $ 132,467 $ 123,058 =============== =============== ============== ================
For the Quarter Ended For the Nine Months Ended ----------------------------------- --------------------------------- September 30, September 30, ----------------------------------- --------------------------------- FINANCIAL DATA 2004 2003 2004 2003 --------------- --------------- -------------- ---------------- Capital: Average equity $ 1,295,510 $ 1,161,334 $ 1,273,908 $ 1,147,884 Period-end equity $ 1,356,659 $ 1,187,407 $ 1,356,659 $ 1,187,407 Risk-based capital ratios: Tier 1 9.82% 8.78% Total capital 11.56% 10.96% Leverage ratio 7.81% 6.96% Common stock: Book value per share $ 22.65 $ 19.94 $ 22.65 $ 19.94 =============== =============== ============== ================ Basic earnings per share $ 0.79 $ 0.65 $ 2.21 $ 2.08 =============== =============== ============== ================ Diluted earnings per share $ 0.72 $ 0.58 $ 1.99 $ 1.85 =============== =============== ============== ================ Period end common shares outstanding 59,236,171 58,789,122 59,236,171 58,789,122 Average shares outstanding: Basic 59,197,676 58,770,968 59,132,074 58,649,127 Diluted 66,802,600 66,633,574 66,722,933 66,501,721 Key ratios: Return on average assets 1.35% 1.20% 1.28% 1.30% Return on average equity 14.67% 13.26% 13.89% 14.33% Net interest margin 3.50% 3.34% 3.48% 3.46% Credit Quality: Nonperforming assets: Nonaccrual loans $ 51,776 $ 50,788 Real estate and other repossessed assets 6,038 7,920 --------------- --------------- Total nonperforming assets $ 57,814 $ 58,708 =============== =============== 90-day past due $ 9,173 $ 12,372 =============== =============== Gross charge-offs $ 6,879 $ 8,156 $ 21,513 $ 23,926 Recoveries 2,099 1,852 5,985 4,909 --------------- --------------- -------------- ---------------- Net charge-offs (recoveries) $ 4,780 $ 6,304 $ 15,528 $ 19,017 =============== =============== ============== ================ Key ratios: Reserve for loan losses to period end loans (A) 1.68% 1.77% Nonperforming assets to period end loans (A) and repossessed assets 0.75% 0.82% Net charge-offs (annualized) to average loans (A) 0.25% 0.36% 0.28% 0.37% Reserve for loan losses to nonperforming loans 249.36% 250.00% (A) Excluding residential mortgage loans held for sal
For the Quarter Ended For the Nine Months Ended ----------------------------------- --------------------------------- September 30, September 30, ----------------------------------- --------------------------------- 2004 2003 2004 2003 --------------- --------------- -------------- ---------------- Other Data: Average earning assets, net of unsettled security transactions $ 12,442,173 $ 11,630,201 $ 12,300,714 $ 11,376,856 Average total assets $ 14,062,497 $ 12,856,629 $ 13,820,676 $ 12,623,152 Average equity $ 1,295,510 $ 1,161,334 $ 1,273,908 $ 1,147,884 Average loans $ 7,656,588 $ 7,122,211 $ 7,566,848 $ 7,014,711 Loans held for sale (Period end) $ 82,053 $ 109,035 $ 82,053 $ 109,035 Loans held for sale (Average) $ 71,591 $ 161,762 $ 80,311 $ 139,122 Tax equivalent adjustment $ 1,120 $ 1,256 $ 3,406 $ 3,986 Preferred stock dividends - BOKF $ 750 $ 375 $ 1,500 $ 1,125 Period end common shares O/S 59,236,171 58,789,122 59,236,171 58,789,122 Period end fully diluted shares 66,841,095 66,651,727 66,841,095 66,651,727 Number of days in period 92 92 274 273 Tangible Book Value per Common Share $ 18.52 $ 15.67 $ 17.47 $ 16.00 =============== =============== ============== ================ Stock Buy Back Program: Stock buy back # shares - - - - Stock buy back account $ - $ - $ - $ - --------------- --------------- -------------- ---------------- Average price per share $ - $ - $ - $ - =============== =============== ============== ================ Mortgage Banking: Mortgage servicing portfolio $ 4,023,054 $ 4,499,482 Mortgage loan fundings during quarter $ 138,941 $ 425,024 $ 495,732 $ 1,156,377 Mortgage loan refinances to total fundings 23.84% 65.84% 34.74% 69.27% Trust Assets: Total trust assets $ 23,309,118 $ 19,247,663