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BOK Financial - Fundamentalanalyse - Jahresbericht / Bilanz / Geschäftsbericht

BOK Financial (ISIN: US05561Q2012, WKN: 923203) Kursdatum: 21.07.2017 Kurs: 84,760 USD
Beschreibung Daten
Symbol BOKF
Marktkapitalisierung 5.521.596.928,00 USD
Land Vereinigte Staaten von Amerika
Indizes NASDAQ Comp.
Sektor Finanzdienstleister
Rohdaten nach US GAAP in Millionen USD
Aktiensplits 2004-05-06 - 103:100 | 2003-05-08 - 103:100 | 2002-05-09 - 103:100 | 2001-05-03 - 103:100 | 1999-10-06 - 103:100 | 1999-02-23 - 2:1 | 1998-11-10 - 105:100 | 1997-11-13 - 103:100 | 1996-11-14 - 103:100 |
Internet
Letztes Bilanz Update 28.02.2017

Fundamentaldaten

Fundamental Verhältnisse errechnet am: 21.07.2017
KFCV KCV DIV Rendite GKR EKQ KGV KUV KBV
-18,83 -59,08 2,04% 0,70 9,99 24,01 3,65 1,69

Firmenbeschreibung

Firmenstrategie

Basis of Presentation The Consolidated Financial Statements of BOK Financial Corporation (“BOK Financial” or “the Company”) have been prepared in conformity with accounting principles generally accepted in the United States ("U.S. GAAP"), including interpretations of U.S. GAAP issued by federal banking regulators and general practices of the banking industry. The consolidated financial statements include the accounts of BOK Financial and its subsidiaries, principally BOKF, NA (“the Bank”), BOSC, Inc., The Milestone Group, Inc. and Cavanal Hill Investment Management, Inc. All significant intercompany transactions are eliminated in consolidation. Certain prior year amounts have been reclassified to conform to the current year presentation.The consolidated financial statements include the assets, liabilities, non-controlling interests and results of operations of variable interest entities (“VIEs”) when BOK Financial is determined to be the primary beneficiary. Variable interest entities are generally defined as entities that either do not have sufficient equity to finance their activities without support from other parties or whose equity investors lack a controlling financial interest. See additional discussion of variable interest entities at Note 14 following.

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Other Operating Revenue

 

Fees and commission revenue is recognized at the time the related services are provided or products are sold and may be accrued when necessary. Accrued fees and commissions are reversed against revenue if amounts are subsequently deemed to be uncollectible. Revenue is recognized on a gross basis whenever we have primary responsibility and risk in providing the services or products to our customers and on a net basis whenever we act as a broker for products or services of others.


Brokerage and trading revenue includes changes in the fair value of securities held for trading purposes and derivatives held for customer risk management programs, including credit losses on trading securities and derivatives, commissions earned from the retail sale of securities, mutual funds and other financial instruments, and underwriting and financial advisory fees.


Transaction card revenue includes merchant discount fees, electronic funds transfer network fees and check card fees. Merchant discount fees represent fees paid by customers for account management and electronic processing of transactions. Merchant discount fees are recognized at the time the customer's transactions are processed or other services are performed. The Company also maintains the TransFund electronic funds transfer network for the benefit of its members, which includes the Bank. Electronic funds transfer fees are recognized as electronic transactions processed on behalf of its members. Check card fees represent interchange fees paid by a merchant bank for transactions processed from cards issued by the Company. Check card fees are recognized when transactions are processed.


Trust fees and commissions include revenue from asset management, custody, recordkeeping, investment advisory and administration services. Revenue is recognized on an accrual basis at the time the services are performed and may be based on either the fair value of the account or the service provided.


Deposit service charges and fees are recognized at least quarterly in accordance with a published deposit account agreements and disclosure statements for retail accounts or contractual agreements for commercial accounts. Item charges for overdraft or non-sufficient funds items are recognized as items are presented for payment. Account balance charges and activity fees are accrued monthly and collected in arrears. Commercial account activity fees may be offset by an earnings credit based on account balances.

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(17)  Reportable Segments


BOK Financial operates three principal lines of business: Commercial Banking, Consumer Banking and Wealth Management. Commercial Banking includes lending, treasury and cash management services and customer risk management products to small businesses, middle market and larger commercial customers. Commercial Banking also includes the TransFund EFT network. Consumer Banking includes retail lending and deposit services, lending and deposit services to small business customers served through the consumer branch network and all mortgage banking activities. Wealth Management provides fiduciary services, private bank services and investment advisory services in all markets. Wealth Management also underwrites state and municipal securities and engages in brokerage and trading activities.


In addition to its lines of business, BOK Financial has a Funds Management unit. The primary purpose of this unit is to manage overall liquidity needs and interest rate risk. Each line of business borrows funds from and provides funds to the Funds Management unit as needed to support their operations. Operating results for Funds Management and other include the effect of interest rate risk positions and risk management activities, securities gains and losses including impairment charges, the provision for credit losses in excess of net loans charged off, tax planning strategies and certain executive compensation costs that are not attributed to the lines of business. 


BOK Financial allocates resources and evaluates performance of its lines of business after allocation of funds, actual net credit losses and capital costs. In addition, we measure the performance of our business lines after allocation of certain indirect expenses and taxes on statutory rates. The allocation for the prior comparable periods have been revised on a comparable basis.


The cost of funds borrowed from the Funds Management unit by the operating lines of business is transfer priced at rates that approximate market rates for funds with similar duration. Market rates are generally based on the applicable LIBOR or interest rate swap rates, adjusted for prepayment risk. This method of transfer-pricing funds that support assets of the operating lines of business tends to insulate them from interest rate risk.


The value of funds provided by the operating lines of business to the Funds Management unit is based on rates which approximate the wholesale market rates for funds with similar duration and re-pricing characteristics. Market rates are generally based on LIBOR or interest rate swap rates. The funds credit formula applied to deposit products with indeterminate maturities is established based on their re-pricing characteristics reflected in a combination of the short-term LIBOR rates and a moving average of an intermediate term swap rate, with an appropriate spread applied to both. Shorter duration products are weighted towards the short-term LIBOR rate and longer duration products are weighted towards intermediate swap rates. The expected duration ranges from 30 days for certain rate-sensitive deposits to five years.


Economic capital is assigned to the business units by a capital allocation model that reflects management's assessment of risk. This model assigns capital based upon credit, operating, interest rate and market risk inherent in our business lines and recognizes the diversification benefits among the units. The level of assigned economic capital is a combination of the risk taken by each business line, based on its actual exposures and calibrated to its own loss history where possible. Average invested capital includes economic capital and amounts we have invested in the lines of business.


Substantially all revenue is from domestic customers. No single external customer accounts for more than 10% of total revenue.


Net loans charged off and provision for credit losses represents net loans charged off as attributed to the lines of business and the provision for credit losses in excess of net charge-offs attributed to Funds Management and Other.


Reportable segments reconciliation to the Consolidated Financial Statements for the year ended December 31, 2015 is as follows (in thousands):

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(16)  Earnings Per Share


The following table presents the computation of basic and diluted earnings per share (dollars in thousands, except per share data):

 

 
 
Commercial
 
Consumer
 
Wealth
Management
 
Funds Management and Other
 
BOK
Financial
Consolidated
Net interest revenue from external sources
 
$
439,727

 
$
84,848

 
$
24,770

 
$
154,009

 
$
703,354

Net interest revenue (expense) from internal sources
 
(50,678
)
 
29,824

 
21,524

 
(670
)
 

Net interest revenue
 
389,049

 
114,672

 
46,294

 
153,339

 
703,354

Provision for credit losses
 
(6,018
)
 
6,108

 
(891
)
 
34,801

 
34,000

Net interest revenue after provision for credit losses
 
395,067

 
108,564

 
47,185

 
118,538

 
669,354

Other operating revenue
 
177,522

 
216,772

 
250,942

 
21,617

 
666,853

Other operating expense
 
207,394

 
213,782

 
230,838

 
252,550

 
904,564

Net direct contribution
 
365,195

 
111,554

 
67,289

 
(112,395
)
 
431,643

Corporate expense allocations
 
35,680

 
74,868

 
39,654

 
(150,202
)
 

Net income before taxes
 
329,515

 
36,686

 
27,635

 
37,807

 
431,643

Federal and state income taxes
 
128,181

 
14,271

 
10,750

 
(13,818
)
 
139,384

Net income
 
201,334

 
22,415

 
16,885

 
51,625

 
292,259

Net income attributable to non-controlling interests
 

 
 
Year Ended
 
 
2015
 
2014
 
2013
Numerator:
 
 
 
 
 
 
Net income attributable to BOK Financial Corp. shareholders
 
$
288,565

 
$
292,435

 
$
316,609

Less: Earnings allocated to participating securities
 
3,383

 
3,239

 
3,388

Numerator for basic earnings per share – income available to common shareholders
 
285,182

 
289,196

 
313,221

Effect of reallocating undistributed earnings of participating securities
 
3

 
4

 
7

Numerator for diluted earnings per share – income available to common shareholders
 
$
285,185

 
$
289,200

 
$
313,228

 
 
 
 
 
 
 
Denominator:
 
 

 
 
 
 

Weighted average shares outstanding
 
68,397,215

 
69,159,902

 
68,719,069

Less:  Participating securities included in weighted average shares outstanding
 
802,526

 
765,708

 
730,172

Denominator for basic earnings per common share
 
67,594,689

 
68,394,194

 
67,988,897

Dilutive effect of employee stock compensation plans1
 
96,969

 
150,576

 
216,622

Denominator for diluted earnings per common share
 
67,691,658

 
68,544,770

 
68,205,519

 
 
 
 
 
 
 
Basic earnings per share
 
$
4.22

 
$
4.23

 
$
4.61

Diluted earnings per share
 
$
4.21

 
$
4.22

 
$
4.59

1  Excludes employee stock options with exercise prices greater than current market price.