Record Earnings and Robust Loan Growth

This article first appeared on GuruFocus.

• Earnings (Q4 2025): $177.3 million or $2.89 per diluted share.

• Earnings (Full Year 2025): $578 million or $9.17 per diluted share.

• Loan Growth (2025): $1.5 billion or 6.4% increase.

• Loan Growth (Q4 2025): $786 million or 3.2% sequential increase.

• Net Interest Margin (Q4 2025): Increased by 7 basis points.

• Fee Income (2025): $801 million, representing 38% of total revenue.

• Fee Income (Q4 2025): $214.9 million, a 5.1% sequential increase.

• Assets Under Management (Q4 2025): Surpassed $126 billion, setting a new record high.

• Share Repurchase (Q4 2025): Over 2.6 million shares at an average price of $107.99 per share.

• Net Charge-Off Rate (2025): 3 basis points annualized.

• Allowance for Credit Losses: $327 million or 1.28% of outstanding loans.

• Net Interest Income (Q4 2025): Increased by $7.6 million.

• Total Expenses (Q4 2025): Decreased by $8.7 million.

• Capital Levels (Q4 2025): Tangible common equity at 9.5%, CET1 at 12.9%.

Release Date: January 20, 2026

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

• BOK Financial Corp (NASDAQ:BOKF) reported record high earnings per share for both the fourth quarter and full year 2025, with EPS of $2.89 and $9.17 respectively.

• The company achieved solid loan growth, expanding loan balances by more than $1.5 billion or 6.4% for the year, with an annualized growth rate of 11% over the last nine months.

• Net interest margin expanded in every quarter of 2025, with a 7 basis point increase in the fourth quarter.

• Fee income contributed $801 million to revenue, representing 38% of total revenue, with strong performance in fiduciary and asset management, and transaction card lines.

• BOK Financial Corp maintained excellent credit quality with a combined allowance of 1.28% of outstanding loans and an annualized net charge-off rate of only 3 basis points.

• Commercial real estate business saw a 1.4% decrease compared to the prior quarter, despite a 12.1% increase year-over-year.

• Investment banking revenue decreased by $1.9 million following a record high, indicating potential volatility in this segment.

• The company anticipates credit normalization over the long term, which could impact future credit quality metrics.

• There was a moderate level of normal refinancing into the permanent market, which contributed to a small quarter-over-quarter decline in commercial real estate.

• The guidance for 2026 suggests a mid-single-digit growth in total revenue, which may be seen as conservative given the strong performance in 2025.