BOK Financial is a financial holding company incorporated in the state of Oklahoma
in 1990 whose activities are governed by the Bank Holding Company Act of 1956
(“BHCA”), as amended by the Financial Services Modernization Act
or Gramm-Leach-Bliley Act and the Dodd-Frank Wall Street Reform and Consumer
Protection Act (the "Dodd-Frank Act"). BOK Financial offers full service
banking in Oklahoma, Texas, New Mexico, Northwest Arkansas, Colorado, Arizona,
and Kansas/Missouri.
BOKF, NA (“the Bank”) is a wholly owned subsidiary bank of BOK
Financial. BOKF, NA operates TransFund, Cavanal Hill Investment Management,
BOK Financial Asset Management, Inc. and seven banking divisions: Bank of Albuquerque,
Bank of Arizona, Bank of Arkansas, Bank of Kansas City, Bank of Oklahoma, Bank
of Texas and Colorado State Bank and Trust. Other wholly owned subsidiaries
of BOK Financial include BOSC, Inc., a broker/dealer that engages in retail
and institutional securities sales and municipal bond underwriting and The Milestone
Group, Inc., an investment adviser to high net worth clients. Other non-bank
subsidiary operations do not have a significant effect on the Company’s
financial statements.
Our overall strategic objective is to emphasize growth in long-term value by
building on our leadership position in Oklahoma through expansion into other
high-growth markets in contiguous states. We operate primarily in the metropolitan
areas of Tulsa and Oklahoma City, Oklahoma; Dallas, Fort Worth and Houston,
Texas; Albuquerque, New Mexico; Denver, Colorado; Phoenix, Arizona, and Kansas
City, Kansas/Missouri. Our acquisition strategy targets fairly priced quality
organizations with demonstrated solid growth that would supplement our principal
lines of business. We provide additional growth opportunities by hiring talent
to enhance competitiveness, adding locations and broadening product offerings.
Our operating philosophy embraces local decision-making in each of our geographic
markets while adhering to common Company standards.
Our primary focus is to provide a comprehensive range of nationally competitive
financial products and services in a personalized and responsive manner. Products
and services include loans and deposits, cash management services, fiduciary
services, mortgage banking and brokerage and trading services to middle-market
businesses, financial institutions and consumers. Commercial banking represents
a significant part of our business. Our credit culture emphasizes building relationships
by making high quality loans and providing a full range of financial products
and services to our customers. Our energy financing expertise enables us to
offer commodity derivatives for customers to use in their risk management. We
also offer derivative products for customers to use in managing their interest
rate and foreign exchange risk. Our diversified base of revenue sources is designed
to generate returns in a range of economic situations. Historically, fees and
commissions provide 43% to 49% of our total revenue. Approximately 48% of our
revenue came from fees and commissions.
BOK Financial’s corporate headquarters is located at Bank of Oklahoma
Tower, Boston Avenue at Second Street, Tulsa, Oklahoma 74172.
As a financial holding company, BOK Financial is regulated under the BHCA and
is subject to regular inspection, examination and supervision by the Board of
Governors of the Federal Reserve System (the “Federal Reserve Board”).
Under the BHCA, BOK Financial files quarterly reports and other information
with the Federal Reserve Board.
The Bank is organized as a national banking association under the National
Banking Act, and is subject to regulation, supervision and examination by the
Office of the Comptroller of the Currency (the “OCC”), the Federal
Deposit Insurance Corporation (the “FDIC”), the Federal Reserve
Board, the Consumer Financial Protection Bureau and other federal and state
regulatory agencies. The OCC has primary supervisory responsibility for national
banks and must approve certain corporate or structural changes, including changes
in capitalization, payment of dividends, change of place of business, and establishment
of a branch or operating subsidiary. The OCC performs examinations concerning
safety and soundness, the quality of management and directors, information technology
and compliance with applicable regulations. The National Banking Act authorizes
the OCC to examine every national bank as often as necessary
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