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The relationship between banks and private equity has been tense at times, but the aid PE firms are supplying to struggling energy firms could limit the losses suffered by lenders.
August 11 -
Prosperity has built itself into one of Texas' largest banks over the past decade and now it's beginning to reap the benefits that come with scale.
October 23 -
BOK Financial has hired Glenn Brunker to oversee mortgage operations and manage the bank's transition to a new federally-required consolidated mortgage disclosure regime.
July 2
BOK Financial in Tulsa, Oklahoma, reported a small drop in third-quarter profit, as a decline in the value of mortgage servicing rights offset loan and fee income growth.
The $30.6 billion-asset company's net income fell 1% to of $74.9 million. Earnings per share were unchanged at $1.09.
BOK recorded an $11.8 million decline in the fair value of its mortgage servicing rights. The change in value reduced third-quarter net income by $4.4 million.
Net interest income before the loan-loss provision rose 7.1% to $178.6 million. BOK recorded a $7.5 million provision for credit migration and loan portfolio growth. The net interest margin shrank 6 basis points to 2.61%.
Total loans grew 12.3% to $15.4 billion. Business loans rose 14.3% to $9.8 billion. Commercial real estate loans rose 18.8% to $3.2 billion.
Fee income grew 3.9% to $164.7 million, with growth in mortgage banking revenue, card fees, and fiduciary and asset management services.
Noninterest expense rose 1.3% to $224.6 million, on higher salaries, data processing and mortgage banking costs. BOK in November announced it would close or relocate 39 in-store branches, to reduce yearly costs by $7 million to $8 million.
