BOK Financial Corporation (BOKF) Q3 2023 Earnings Call Transcript


BOK Financial Corporation (NASDAQ:BOKF) Q3 2023 Earnings Conference Call October 25, 2023 10:00 AM ET

Company Participants

Martin Grunst – CFO

Stacy Kymes – CEO

Marc Maun – EVP, Regional Banks

Scott Grauer – EVP, Wealth Management

Conference Call Participants

Brady Gailey – KBW

Peter Winter – D.A. Davidson

Jon Arfstrom – RBC Capital Markets

Brandon King – Truist Securities

Matt Olney – Stephens

Timur Braziler – Wells Fargo Securities

Operator

Greetings, and welcome to BOK Financial Corporation Third Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions]. As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Marty Grunst, Chief Financial Officer for BOK Financial Corporation. Thank you, Mr. Grunst. You may begin.

Martin Grunst

Good morning, and thank you for joining us. Today, our CEO, Stacy Kymes, will provide opening comments; Marc Maun, Executive Vice President for Regional Banking, will cover our loan portfolio and related credit metrics; and Scott Grauer, Executive Vice President of Wealth Management, will cover our fee-based results. I will then discuss financial performance for the quarter and our forward guidance. PDFs of the slide presentation and third quarter press release are available on our website at bokf.com. We refer you to the disclaimers on Slide 2 regarding any forward-looking statements we make during the call.

I will now turn the call over to Stacy Kymes.

Stacy Kymes

Good morning, and thanks for joining us to discuss BOK Financials’ third quarter financial results. Starting on Slide 4, third quarter net income was $134 million, or $2.04 per diluted share. Our team had another solid quarter of earnings, driven by our diverse business model, which prudently balances interest revenue with non-interest revenues and allows us to perform well in a variety



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