Exhibit 21

BOK FINANCIAL CORPORATION

SUBSIDIARIES OF THE REGISTRANT

Banking Subsidiaries

BOKF, National Association(1)

Missouri Bank and Trust Company of Kansas City (2)

Other subsidiaries of BOK Financial Corporation

BOK Capital Service Corporation

BOKC Real Estate Corporation(8)

BOKF Capital Corporation

BOKF-CC (Aimbridge), LLC

BOKF-CC (FSE), LLC

BOKF-CC (Collision Works), LLC

BOKF-CS (Global Holdings), LLC

BOKF-CC (Heartland), LLC

BOKF-CS (Newco Valves), LLC

BOKF-CC (O2 Concepts), LLC

BOKF-CC (QAA), LLC(4)

BOKF Equity, LLC

BOKF Private Equity Limited Partnership

BOKF Private Equity Limited Partnership II

BOK Financial Securities, Inc.

Cavanal Hill Distributors, Inc.

Heartland Food Products, LLC (8)

HFP II, LLC

Lakeland Operating Company, LLC(7)

The Milestone Group, Inc.(6)

Quality Aircraft Accessories Holding Corporation(4)

Quality Aircraft Accessories, Inc. (4)

Subsidiaries of BOKF, National Association(1)

4525-4527 Fairway, LLC

Affiliated BancServices, Inc.

Affiliated Financial Holding Co.

Affiliated Financial Insurance Agency, Inc.

BancOklahoma Agri-Service Corporation

BancOklahoma Mortgage Corporation

BOK Delaware, Inc.(4)

BOK Financial Asset Management, Inc. (3)

BOK Financial Equipment Finance, Inc.

BOK Funding Trust(4)

BOKFCDF Fund I, LLC

BOKF Community Development Fund, LLC

BOKF Community Development Corporation

BOKF Petro Holding, LLC

BOKF Special Assets I, LLC

BOSC Agency, Inc. (Oklahoma)

BOSC Agency, Inc. (New Mexico) (5)

BOSC Agency, Inc.. (Texas) (3)

Calicotte Ranch HOA, LLC

Cavanal Hill Investment Management, Inc.

Cottonwood Valley Ventures, Inc.

CVV Management, Inc.

CVV Partnership, an Oklahoma General Partnership

Oklahoma New Markets Fund I, LLC

Oklahoma New Markets Fund II, LLC

Oklahoma New Markets Fund III, LLC

Oklahoma New Markets Fund IV, LLC

Pacesetter Leasing Company

Subsidiaries of Missouri Bank and Trust Company of Kansas City (2)

Ottawa Land Partners, LLC

All Subsidiaries listed above were incorporated in Oklahoma, except as noted.

(1) Chartered by the United States Government

(2) Chartered by the State of Missouri

(3) Incorporated in Texas

(4) Incorporated in Delaware

(5) Incorporated in New Mexico

(6) Incorporated in Colorado

(7) Incorporated in California

(8) Incorporated in Kansas