BOK reports strong quarterly earnings
BY LAURIE WINSLOW World Staff Writer
Wednesday, October 31, 2012
Growth in mortgage banking revenue contributed to BOK Financial Corp.’s strong third-quarter results, the bank company announced Wednesday.
The Tulsa-based regional financial services company reported net income of $87.4 million, or $1.27 per diluted share, for the third quarter, compared with net income of $85.1 million, or $1.24 per
diluted share, for the same quarter a year ago.
Net income for the first nine months of the year was $268.6 million, or $3.92 per diluted share, compared with $218.9 million, or $3.19 per diluted share, for the same period last year.
“BOK Financial’s strong financial results for the third quarter continue to reflect the strength of our diversified revenue business model,” said President and CEO Stan Lybarger, in a written statement. “The prolonged low interest rate environment has enabled our mortgage banking professionals to assist a record number of customers in the purchase or refinance of their home. We experienced strong commercial loan growth and continued growth in our deposit base.”
At the end of September, the bank company had total assets of $27.1 billion, loans of $11.8 billion and deposits of $19.1 billion.