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Bok Financial Corp Et Al (BOKF) SEC Filing 10-Q Quarterly report for the period ending Tuesday, March 31, 2020

Bok Financial Corp Et Al

CIK: 875357 Ticker: BOKF



Exhibit 99(a)
image0a01a01a01a36.jpg
NASD: BOKF

BOK Financial Reports Quarterly Earnings of $62 million or $0.88 Per Share in the First Quarter

CEO Commentary
"While this quarter showcased the momentum with which we entered 2020, I am most proud of the resiliency and flexibility of our employees as we navigate this difficult time," said Steven G. Bradshaw, president, and chief executive officer. "The extreme health concerns surrounding the COVID-19 virus have created a rapidly changing work environment for our 5,000 employees, and the continued health and safety for them and their families remains our top objective. We also embrace the responsibility we have to our many clients and the communities in which we serve to maintain our high standards of customer service and community engagement. The culture of collaboration and commitment our employees have worked hard to build for many years has really revealed itself during this turbulent period. I could not be more proud of the compassion our employees have shown for our customers and those in need. This is the sustaining core of our BOKF culture."

Bradshaw continued, "While the second and third quarters of 2020 will certainly pose unprecedented economic challenges, we continue to be an organization focused on the long-term. We expect our business revenue diversity along with proven credit underwriting in all lending segments to serve as our foundation for continued shareholder value going forward.”

COVID-19 Pandemic Response
We have implemented our cross-functional crisis management team led by our Chief Human Resources Officer and Chief Risk Officer. This team has focused on ensuring employee and customer safety while continuing to meet customer needs. We have implemented social distancing measures within our internal and external operations. Employees are working from home as able, we have split remaining employees across multiple locations, and we have closed banking center lobbies and converted to drive-thru and by appointment only.
We have implemented programs to help our customers through this uncertain time. We are actively participating in programs initiated by the Coronavirus Aid, Relief, and Economic Security Act ("CARES Act"), including the Small Business Administration's ("SBA") Paycheck Protection Program ("PPP") that began on April 3, 2020 and Mortgage Forbearance program. As of April 17, 2020, we have processed approximately 4,700 PPP applications and currently have SBA approval for $1.8 billion. We have the ability to fund PPP loans through the Federal Reserve's PPP liquidity facility. We are also evaluating participating in the Main Street Lending Program. We are waiving fees on excessive savings and money market account withdrawals as well as overdraft protection transfer fees for automatic transfers between linked accounts at BOKF through May 31, 2020. Further, we are waiving loan payment late fees on consumer loan payments, mortgage accounts and small business loans in April 2020.
We have enhanced our benefits to support our employees as they navigate changes in their working environment. We are providing a temporary child care reimbursement program for those employees that need assistance because of school closures and have also added incremental paid time off hours for employees. We expanded our telemedicine options to deliver medical and behavioral health services at no cost. Further, we have enacted premium pay for certain non-exempt employees who must remain in the office.
We are closely monitoring our loan portfolio for effects related to COVID-19. Exposure to highly affected industries include, but are not limited to, oil and gas, entertainment and leisure, and senior housing. Energy loan balances comprise 18 percent of total loans, senior housing comprises 11 percent, and entertainment and leisure comprises approximately 8 percent. While our liquidity remains strong, we have enhanced daily monitoring of liquidity by tracking deposit inflows and outflows by customer, analyzing loan advances by segment, optimizing our borrowing capacity at the Federal Home Loan Bank, and increasing our collateral at the Federal Reserve Discount Window, among other things.

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The following information was filed by Bok Financial Corp Et Al (BOKF) on Wednesday, April 22, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Definitive Proxy Statement (Form DEF 14A)
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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets (Parenthetical) (Unaudited)
Consolidated Balance Sheets (Unaudited)
Consolidated Statements Of Cash Flows (Unaudited)
Consolidated Statements Of Changes In Equity (Unaudited)
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Earnings (Unaudited)
Available For Sale Securities (Details)
Commitments And Contingent Liabilities
Commitments And Contingent Liabilities (Details)
Commitments And Contingent Liabilities Variable Interest Entities (Details)
Derivatives
Derivatives (Tables)
Derivatives, Derivatives Instruments Gain (Loss) In Income Statement (Details)
Derivatives, Fair Value Of Derivatives Contracts (Details)
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements Fair Value Measurement, Measured On Non-Recurring Basis, Signfiicant Unobservable Inputs, Quantitative Information (Details)
Fair Value Measurements Fair Value Measurements, Financial Instruments Measured On A Recurring Basis, Quantitative Information (Details)
Fair Value Measurements, Fair Value Measured On A Nonrecurring Basis (Details)
Fair Value Measurements, Fair Value Of Financial Instruments As Measured On A Recurring Basis (Details)
Fair Value Measurements, Financial Instruments (Details)
Fair Value Measurements, Measured On Recurring Basis Significant Unobservable Inputs (Details)
Fees And Commissions Revenue Fees And Commissions (Details)
Fees And Commissions Revenue Fees And Commissions Revenue
Fees And Commissions Revenue Fees And Commissions Rvenue (Tables)
Investment (Held-To-Maturity) Securities (Details)
Loans And Allowance For Credit Losses, Impaired Loans (Details)
Loans And Allowance For Credit Losses, Loans By Portfolio Type (Details)
Loans And Allowances For Credit Losses
Loans And Allowances For Credit Losses (Tables)
Loans And Allowances For Credit Losses Loans And Allowances For Credit Losses, Nonaccrual (Details)
Loans And Allowances For Credit Losses, Activity In Allowance For Credit Losses (Details)
Loans And Allowances For Credit Losses, By Aging Category (Details)
Loans And Allowances For Credit Losses, Credit Quality Indicators (Details)
Loans And Allowances For Credit Losses, Troubled Debt Restructurings (Details)
Mortgage Banking Activities
Mortgage Banking Activities (Tables)
Mortgage Banking Activities Mortgage Banking Activities, Mortgage Banking Revenue (Details)
Mortgage Banking Activities, Components Of Loans Held For Sale (Details)
Mortgage Banking Activities, Mortgage Servicing Rights (Details)
Reportable Segments
Reportable Segments (Details)
Reportable Segments (Tables)
Securities
Securities (Tables)
Securities Debt Securities, Available-For-Sale, Unrealized Loss Position, Fair Value (Details)
Securities Fair Value Option Securities (Details)
Shareholders' Equity
Shareholders' Equity (Details)
Shareholders' Equity (Tables)
Significant Accounting Policies
Significant Accounting Policies (Policies)
Significant Accounting Policies Loans And Allowance For Credit Losses (Details)
Subsequent Events
Trading Securities (Details)

Material Contracts, Statements, Certifications & more

Bok Financial Corp Et Al provided additional information to their SEC Filing as exhibits

Ticker: BOKF
CIK: 875357
Form Type: 10-Q Quarterly Report
Accession Number: 0000875357-20-000043
Submitted to the SEC: Tue May 05 2020 3:10:49 PM EST
Accepted by the SEC: Tue May 05 2020
Period: Tuesday, March 31, 2020
Industry: National Commercial Banks

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