BOK Financial Corporation

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BOK Financial Corporation
Company typePublic
Russell 1000 Index component
Founded1910; 114 years ago (1910), as Exchange National Bank of Tulsa
1990; 34 years ago (1990), rebranded as BOK Financial Corporation
HeadquartersBOK Tower, ,
United States
Areas served
Nationwide service area with bank operations in Arizona, Arkansas, Colorado, Kansas, Missouri, New Mexico, Oklahoma, Texas
Key people
RevenueIncrease US$1.83 billion (fiscal year ended 31 December 2021)[1]
Increase US$618.1 million (fiscal tear ended 31 December 2021)[1]
AUMIncrease US$104.9 billion (fiscal year ended 31 December 2021)[1]
Total assetsIncrease $50.2 billion (fiscal year ended 31 December 2021)[1]
Total equityIncrease $5.4 billion (fiscal year ended 31 December 2021)[1]
OwnerGeorge Kaiser (53%)
Number of employees
4,900 (2021)
Footnotes / references

BOK Financial Corporation — pronounced as letters, "B-O-K" — is a financial services holding company headquartered in Tulsa, Oklahoma. Offering a full complement of retail and commercial banking products and services across the American Midwest and Southwest, the company is one of the 50 largest financial services firms in the U.S.,[3] and the largest in Oklahoma.

The company's banking subsidiary, BOKF, NA, operates under the brands Bank of Oklahoma, Bank of Texas, and Bank of Albuquerque, and it operates as BOK Financial in Arizona, Arkansas, Colorado, Kansas, and Missouri.[4] It also operates ATM and debit card processor TransFund, Cavanal Hill Investment Management, BOK Financial Securities, BOK Financial Advisors, BOK Financial Insurance, and BOK Financial Asset Management.

The company is more than 50% owned by George Kaiser, who acquired the bank in 1991 from the FDIC. Known for its energy roots, as of June 30, 2021, 14% of its loan portfolio was to borrowers in the petroleum industry.


BOK Financial was formed in 1910 primarily as a source of capital for the energy industry and broadened its geographic and market reach to become one of the largest and most multifaceted regional financial institutions in the country.

The company traces its roots to the Exchange National Bank of Tulsa, which was formed in 1910.[5][6] In 1917, Exchange National Bank began construction of a headquarters building in Tulsa at Third Street and Boston Avenue. In 1928, the bank constructed a 28-story tower adjacent to the initial building. The combined structure, since renamed the 320 South Boston Building, remained the tallest building in Tulsa until 1967.[7] The bank has continuously operated a branch in the building since then.

The bank was rebranded as National Bank of Tulsa in 1933[6][8] and in 1975 to Bank of Oklahoma to reflect its statewide approach. Also in 1975, the bank installed the first automated teller machine in Oklahoma.[6][9] The following year, the company began moving employees into the new BOK Tower and in 1979, the bank reached $1 billion in assets.[6]

Five years later, in 1984, the company purchased Fidelity of Oklahoma and reached $3 billion in assets.[6] Shortly after, the Bank was in danger of failing as the Oklahoma energy market went into depression.[10][11][12]

In 1986, the Federal Deposit Insurance Corp bailed the Bank of Oklahoma out[13] for a total cost of $130 million[10] in a move hailed as an innovative response.[10] It was only the eighth time in the past 50 years that the FDIC has acted to keep a troubled bank afloat rather than allow it to fail.[12] Bank of Oklahoma and Bank of Oklahoma, Tulsa were merged,[11][12][13] and the FDIC received preferred shares convertible into a 99.99 percent ownership stake in the merged institution.[13] On June 7, 1991, with the company's assets totaling just under $2 billion, it was acquired by George Kaiser, who had served on the bank's board of directors, for $60.7 million in a sale facilitated by the FDIC.[13][14]

Under Kaiser's ownership, the institution became BOK Financial[15] and developed a strategy to locate in growing markets near Oklahoma.[6][16]

In 2005, the company acquired the naming rights for the BOK Center for $11 million.[17]

Footprint and family of brands[edit]

Beginning in 1994, the company steadily expanded its footprint beyond Oklahoma, with moves into:

  • Arkansas in 1994 through the acquisition of a bank holding company with operations in northwest Arkansas.[6]
  • Texas through the acquisition of two banks that were merged and renamed Bank of Texas in 1997.[18][19]
  • New Mexico in 1998 with the acquisition of 17 branches[6] from BankAmericaCorp that were renamed Bank of Albuquerque.[19]
  • Colorado in 2003 with the formation of Colorado State Bank [6] and the acquisition in October 2018 of Colorado-based CoBiz Financial, previously Colorado Business Bank.[20] The Colorado and Arizona operations were rebranded as "BOK Financial" in 2018.[21]
  • Arizona in 2005 with the formation of Bank of Arizona.[6]
  • Missouri in 2016 through the acquisition of MBT Bancshares, the parent company of Missouri Bank and Trust of Kansas City.[22]

In October, 2019 the company rebranded its operations in Arkansas, Kansas, and Missouri as BOK Financial.[23][24]

Tulsa's BOK Center, designed by noted architect César Pelli.

Specialty lines of business[edit]

In addition to its legacy energy financing expertise, BOK Financial specializes in healthcare-related finance, offering financial and banking services to owners and operators of senior housing and care facilities, hospitals, and health systems, as well as to physicians and specialized practices.[25]

BOK Financial works with tribal nations and governments to facilitate financial solutions for healthcare, education, and tribal infrastructure purposes. With more than 45 tribal relationships across the U.S., the company has helped raise more than $3 billion for tribal projects in recent years. BOK Financial currently manages more than $4 billion in assets for tribal governments and business.


  1. ^ a b c d e "BOKF Financial Corporation 2021 Annual Report Results" (PDF). December 31, 2021. Retrieved June 2, 2022.
  2. ^ "BOK Financial Corporation 2017 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  3. ^ "Federal Reserve Statistical Release - Large Commercial Banks". December 31, 2021. Retrieved May 25, 2021.
  4. ^ "BOK Financial Opportunity Banking receives national certification" (Press release). BOK Financial Corporation. May 5, 2022.
  5. ^ "OKLAHOMA BANKS CLOSED: State Concern Forced to the Wall by Failure of National Bank". The New York Times. December 15, 1909.(subscription required)
  6. ^ a b c d e f g h i j WINSLOW, LAURIE (November 14, 2010). "Bank of Oklahoma celebrates 100 years". Tulsa World.(subscription required)
  7. ^ "Historic Tulsa: The Bank at 320 South Boston".
  8. ^ GRAHAM, GINNIE (August 30, 2008). "Tulsa weathered other failures". Tulsa World.(subscription required)
  9. ^ "The Panic of 1907 and the Savings and Loan Crisis", The Financial Crisis and Federal Reserve Policy, Palgrave Macmillan, 2013, doi:10.1057/9781137401229.0008, ISBN 9781137401229
  10. ^ a b c Nash, Nathaniel C.; Times, Special To the New York (August 16, 1986). "OKLAHOMA BANK GIVEN $130 MILLION". The New York Times. ISSN 0362-4331. Retrieved March 7, 2023.
  11. ^ a b "FDIC TO BAIL OUT OKLAHOMA BANK". Chicago Tribune. Retrieved March 7, 2023.
  12. ^ a b c Jr, James L. Rowe (August 16, 1986). "FDIC Moves to Rescue Okla. Bank". Washington Post. ISSN 0190-8286. Retrieved March 7, 2023.
  13. ^ a b c d Henriques, Diana B. (November 11, 1990). "Wall Street; A Well-Informed Lucky Break". The New York Times. ISSN 0362-4331. Retrieved March 7, 2023.
  14. ^ Martin, Stacy. "State Bank Acquisition Approved". The Oklahoman. Retrieved March 7, 2023.
  15. ^ BOK Financial Corporation (March 15, 2020). "BOK Financial Information Packet". Retrieved March 7, 2023.
  16. ^ HARDIMAN, SAMUEL (June 7, 2016). "BOK Financial experiences 25 years of growth under George Kaiser". Tulsa World.
  17. ^ Mecoy, Don (October 28, 2005). "BOK will pay $11 million to name Tulsa arena". The Oklahoman.
  18. ^ "BOK Financial Acquires Two Dallas Companies". The Oklahoman. March 2, 1999.
  19. ^ a b Boyd, Danny M. "BOK Financial Corp Announces Acquisition". The Oklahoman. Retrieved March 7, 2023.
  20. ^ "'A Bank For All People': Remembering The Women's Bank". Denver Public Library History. March 22, 2022. Retrieved March 7, 2023.
  21. ^ "BOK Financial Corporation to Acquire CoBiz Financial" (Press release). GlobeNewswire. June 18, 2018.
  22. ^ "BOK Financial Receives Regulatory Approvals to Acquire MBT Bancshares" (Press release). GlobeNewswire. November 16, 2016.
  23. ^ Corporation, BOK Financial (October 28, 2019). "Bank of Arkansas to Rebrand to BOK Financial". GlobeNewswire News Room. Retrieved March 7, 2023.
  24. ^ Corporation, BOK Financial (October 28, 2019). "Mobank to Rebrand to BOK Financial". GlobeNewswire News Room. Retrieved March 7, 2023.
  25. ^ "Healthcare Financial Services". Retrieved March 7, 2023.

External links[edit]

  • Business data for BOK Financial Corporation: