BOK Financial (BOKF) Financials

BOK Financial’s latest statements show a stronger earnings profile in Q2 2026, although the results remain sensitive to interest rates, funding costs and investment-market conditions. Comparisons with earlier periods use the reported or restated figures provided in the data.

Revenue increased to $589.4 million in Q2 2026, up from $535.3 million in Q2 2025 and roughly in line with Q4 2025. Net interest income rose to $351.8 million from $328.2 million year over year, while total non-interest income climbed to $237.6 million from $207.1 million. Net income attributable to common shareholders increased to $176.5 million, compared with $140.0 million a year earlier. Diluted EPS improved to $2.92 from $2.19.

The four-year quarterly trend points to a recovery in core earnings after pressure during 2024. Net interest income was $352.3 million in Q1 2023, fell to $296.0 million in Q2 2024, and then recovered to $351.8 million in the latest quarter. However, non-interest expenses have also risen, reaching $361.7 million in Q2 2026 compared with $305.8 million in Q1 2023.

The balance sheet expanded meaningfully. Net loans and leases reached $26.8 billion in Q2 2026, up 11.6% from Q2 2025 and 14.2% from Q3 2023. Total deposits were approximately $39.9 billion, up from $38.2 billion a year earlier. Total assets increased 5.5% year over year to $53.2 billion, while common equity rose to $6.1 billion from $5.9 billion in Q2 2025 and $4.8 billion in Q3 2023.

Cash flow was unusually strong in Q2 2026, with $1.1 billion of operating cash flow compared with a $248.7 million outflow in Q1 2026 and $89.4 million of operating cash flow in Q2 2025. The improvement was primarily driven by a $909.2 million benefit from changes in operating assets and liabilities, so investors should avoid treating the quarter’s operating cash flow as a recurring measure of earnings power.

• Improving profitability: Q2 2026 net income rose 26.1% year over year, and diluted EPS increased 33.3% to $2.92.
• Net interest income recovery: Net interest income reached $351.8 million, its strongest level among the supplied 2026 and late-2025 quarters and materially above Q2 2024.
• Lower interest expense year over year: Total interest expense declined to $287.3 million in Q2 2026 from $314.3 million in Q2 2025, helping expand the net interest contribution.
• Loan growth: Net loans and leases increased 11.6% year over year to $26.8 billion, providing a larger earning-asset base.
• Fee and other income growth: Total non-interest income rose nearly 15% year over year to $237.6 million, supported by service charges and investment gains.
• Stronger capital base: Common equity increased to $6.1 billion, while the company continued returning capital through a $0.63 quarterly dividend and modest share repurchases.
• Deposit funding expanded: Total deposits grew to roughly $39.9 billion, but the effect on profitability will depend on the rates BOK Financial must pay to retain those deposits.
• Operating cash flow improved sharply: The $1.1 billion Q2 inflow was positive for liquidity, but much of the increase came from working-capital and balance-sheet movements that can reverse in future quarters.
• Operating expenses remain elevated: Non-interest expense was $361.7 million in Q2 2026, up from $354.5 million in Q2 2025 and well above early-2023 levels.
• Funding and market risk remain important: Deposits and short-term borrowings generate substantial interest expense, while trading account securities exceeded $20 billion. Changes in funding costs, credit conditions or investment valuations could pressure future results.

Overall, BOK Financial enters the second half of 2026 with stronger earnings, loan growth and capital than it had in 2023 and 2024. The main questions for investors are whether net interest income can remain near current levels, whether expense growth moderates and whether the recent improvement in operating cash flow reflects sustainable balance-sheet strength rather than temporary funding movements.