BOK Financial Corporation (NASDAQ:BOKF) said on Friday that fourth-quarter earnings came in well ahead of expectations, reporting net income of $177.3 million, or $2.89 per diluted share, versus analyst forecasts of $2.17 per share. Stripping out a gain from the sale of a merchant banking investment and a benefit from an FDIC special assessment, adjusted profit was $152.1 million, or $2.48 per share.
Quarterly revenue reached $560.2 million, beating the consensus estimate of $550.26 million. Results were underpinned by strong loan expansion, with outstanding loans rising 3.2% during the quarter to $25.7 billion, largely driven by growth in the commercial portfolio.
Net interest income increased by $7.6 million from the prior quarter to $345.3 million, while the net interest margin widened by 7 basis points to 2.98%. Non-interest income also strengthened, with fees and commissions up 5.1% to $214.9 million, supported by higher trading revenue, fiduciary and asset management fees, and transaction card income.
“Our results this quarter represent a strong capstone to a year of outstanding performance and disciplined execution, highlighted by record earnings per share performance,” said Stacy Kymes, president and chief executive officer. “Loan growth was exceptional this quarter with outstanding loans increasing 3.2% driven by robust growth in our core commercial and industrial lines as well as our specialty businesses.”
For the full year 2025, BOK Financial posted net income of $578 million, or $9.17 per diluted share, up from $523.6 million, or $8.14 per share, in 2024. Annual net interest income climbed to $1.3 billion, an increase of $116.6 million, while the net interest margin improved to 2.87% from 2.65% a year earlier.
Credit quality remained solid, with nonperforming assets at 0.29% of outstanding loans. Deposits at period end rose by $935 million to $39.4 billion, leaving the loan-to-deposit ratio unchanged at 65%.
During the quarter, the group repurchased 2.6 million common shares at an average price of $107.99 per share, underscoring its ongoing focus on returning capital to shareholders.