Results at a glance
- Period
- FY2026Q3
- Revenue
- $561.4M (561.446 MUSD)
- Net income
- $159.9M (159.853 MUSD)
- Net margin
- 28.5%
From the Bok Financial Open LedgerView the live ledgerIssuer filing (FY2026Q3)
BOK Financial Corporation (NASDAQ: BOKF), the Tulsa regional bank, reported third-quarter 2026 net income to shareholders of $159.9 million, or $2.64 per share — up 19% from $2.22 a year ago and up from Q2's $2.59 on an ex-items basis (the reported $2.92 carried a $30.9 million Visa-share-exchange gain). Net interest revenue grew 9.6% to $370.0 million as the margin widened to 3.00% from 2.91%, with 3.21% excluding the lower-yielding trading book. The provision for credit losses was zero for the third straight quarter: net charge-offs ran just $0.9 million against a $27.7 billion loan book, and nonperforming assets fell to $66.6 million from $74.1 million. Fee income softened 8.1% to $188.0 million as brokerage and trading revenue more than halved to $19.5 million, partly offset by fiduciary income up 9.4% to $69.9 million and an $18.3 million lift from mortgage servicing rights.
Expenses fell 2.5% to $360.7 million — personnel down 5.8% to $213.3 million — holding the efficiency ratio at 63.52% versus 66.66% a year ago. Loans grew 8.1% year-to-date to $27.7 billion (commercial $16.7 billion, CRE $6.1 billion), funded by deposits steady at $39.5 billion plus other borrowings up 37% to $3.8 billion. Capital kept compounding through buybacks: shares outstanding down 3.9% year over year to 60.8 million, tangible book value per share up 2.3% to $79.89 despite accumulated other comprehensive loss tripling to $(544.5) million on the quarter's rate rise, and $38.1 million of dividends paid at a 23.85% payout ratio. The tangible common equity ratio printed 9.16% with return on tangible common equity at 12.66%.
The Headline Numbers
| Metric | Q3 2026 | Q2 2026 | Q3 2025 |
|---|---|---|---|
| Net income to shareholders | $159.9M | $176.5M* | $140.9M |
| Diluted EPS | $2.64 (+19%) | $2.92* ($2.59 adj.) | $2.22 |
| Net interest revenue | $370.0M (+9.6%) | $351.8M | $337.6M |
| Net interest margin | 3.00% | 2.91% | 2.91% |
| Provision for credit losses | $0.0M | $0.0M | $2.0M |
| Net charge-offs | $0.9M | $0.5M | $3.6M |
| Total fees and commissions | $188.0M (−8.1%) | $202.0M | $204.4M |
| Total other operating expense | $360.7M (−2.5%) | $361.7M | $369.8M |
| Efficiency ratio | 63.52% | 60.21% | 66.66% |
| Total loans | $27,729.5M (+8.1% YTD) | $27,083.7M | $24,826.1M avg |
| Total deposits | $39,531.4M | $39,855.8M | $38,481.2M avg |
| Tangible book value / share | $79.89 (+2.3%) | $82.42 | $78.11 |
| Tangible common equity ratio | 9.16% | 9.61% | 10.06% |
* Q2 2026 includes a $30.9 million pre-tax Visa share exchange gain ($0.39/share after tax); ex-items EPS was $2.59.
Nine-month net income of $492.2 million is up 22.8% year over year, with earnings per share at $8.14 versus $6.27. The allowance for loan losses ended at $272.6 million, or 0.98% of loans, and the combined allowance plus unfunded-commitment accrual that ran 1.28% at year-end needs no top-up while charge-offs annualize near zero.
Five years in the ledger: the Tulsa compounder at half the share count growth
The ledger runs FY2021–FY2025 plus this quarter. Total revenue climbed from $1,873.8 million to $2,175.5 million while net interest revenue never dipped below $1.1 billion in any year. Three artifacts reward a look: FY2021's $616.3 million net income rides a $100.0 million provision benefit; the FDIC special assessment lands as $43.8 million in 2023, $5.5 million in 2024, then a $10.7 million benefit in 2025; and FY2025's $578.0 million comes with subordinated debentures trebling to $396.6 million on a new issuance. Non-interest-bearing deposits halved from $15.3 billion to $8.1 billion across the hiking cycle while other borrowings spiked to $7.7 billion in 2023 and settled near $2.7 billion, and the share count shrank every single year — 68.6 million to 60.6 million — as buybacks compounded. Every annual income statement and balance sheet, plus this quarter's 8-K statements, is modeled as examinable Beancount below.
