BOK Financial posts $160 million in third-quarter results amid mixed indicators
Key Facts
BOK Financial reported quarterly earnings of $160 million, or $2.64 per share, in the third quarter of 2026, according to a filing with the U.S. Securities and Exchange Commission. Net income was $159.9 million, compared with $176.5 million in the second quarter, while diluted earnings per share fell from $2.92 to $2.64. By contrast, net interest margin rose to 3.00% from 2.91% in the previous quarter. The results show a mixed trend, with margin improvement and loan growth on one side, and lower net income and some revenue on the other. Reports circulating about an increase in the quarterly dividend could not be verified through a reliable open source.
Loans outstanding totaled $27.7 billion on September 30, 2026, up $646 million from June 30, according to the third-quarter results statement. The company said loans increased by $646 million during the quarter, or 11.5% on an annualized basis, as core net interest income continued to expand. Loan growth was driven by energy loans, commercial real estate loans secured by industrial facilities, and mortgage banking loans. Deposits, meanwhile, fell to $39.5 billion at period-end, down $324 million from the end of June. Lending thus expanded in the same quarter that total deposits contracted.
Fee and commission revenue fell to $188 million in the third quarter from $202 million in the second quarter, according to the company’s filing. Brokerage and trading revenue declined $13 million from the previous quarter. BOK Financial attributed the drop to an unfavorable rate environment and lower fixed-income trading volumes. CEO Stacy Kymes said higher interest rates weighed on the mortgage banking and fixed-income trading businesses during the quarter. He added: "But we view those businesses across the economic cycle," pointing to their role in diversifying earnings over the cycle.
The company recorded no provision for expected credit losses in the third quarter of 2026. It said improved economic forecast assumptions, particularly GDP growth and lower unemployment compared with the previous quarter, offset the impact of loan growth during the quarter. These indicators came alongside loan growth and an improved net interest margin, while net income, deposits, fee and commission revenue declined. The latest quarterly cash dividend documented in the available filing was approved by the board on August 4, 2026, at $0.63 per share, payable on or about September 2.