The sequential decline in net income and NIM, combined with deposit outflows, suggests near-term headwinds. However, strong loan growth and improved YoY earnings provide a mixed picture. Monitor upcoming quarters for NIM stabilization and deposit cost trends, as the no-rate-cut guidance implies continued pressure on net interest income.
Price Chart
Executive Summary
BOK Financial filed an 8-K furnishing its May 2026 investor presentation, which includes Q1 2026 financial results and full-year 2026 guidance. Net income declined to $155.8M ($2.58 EPS) from $177.3M ($2.89 EPS) in Q4 2025, though up from $119.8M ($1.86 EPS) year-over-year. The company guided for FY 2026 net interest income of $1.42-$1.45B and fees & commissions of $820-$845M, implying mid-single-digit total revenue growth.
Key Facts
- Q1 2026 net income of $155.8M ($2.58 diluted EPS) vs $177.3M ($2.89) in Q4 2025 and $119.8M ($1.86) in Q1 2025
- Net interest margin declined 8 bps sequentially to 2.90%; core NIM (ex-trading) declined 7 bps to 3.15%
- Period-end loans grew $536M (2.1%) sequentially to $26.2B; up 10.5% YoY
- Period-end deposits declined $758M (1.9%) sequentially to $38.7B; loan-to-deposit ratio increased to 68% from 65%
- Net charge-offs were 3 bps of average loans (annualized); no provision for credit losses in Q1
- FY 2026 guidance: NII $1.42-$1.45B, fees & commissions $820-$845M, expenses low single-digit growth, efficiency ratio ~63%
- Tangible common equity ratio of 9.3%; CET1 ratio of 12.6%
- Assets under management or administration decreased $3.0B to $123.6B due to lower market valuations
Financial Impact
Q1 net income of $155.8M, down 12.1% sequentially; FY 2026 NII guided to $1.42-$1.45B vs $1.3B in 2025
Risk Factors
- Net interest margin compression if deposit costs remain elevated or loan yields decline further
- Deposit outflows could pressure funding costs and loan-to-deposit ratio
- Credit normalization could increase provision expense from near-zero levels to guided $15-$35M
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000875357-26-000038 |
| Document: bokf-20260511.htm | 0000875357-26-000038 |
| Document: 0000875357-26-000038-index-headers.html | 0000875357-26-000038 |
| Document: 0000875357-26-000038-index.html | 0000875357-26-000038 |
| Document: 0000875357-26-000038.txt | 0000875357-26-000038 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 31, 2026 6w ago | 8-K | $136.08 $128.62 | ▼ −5.48% | ▼ −5.29% | $124.83 (−8.27%) |
Aug 12, 2026 9w ago | Insider Cluster | $144.78 $135.21 | ▼ −6.61% | ▼ −4.71% | $124.83 (−13.78%) |
May 11, 2026 22w ago | 8-K | $129.89 $130.86 | ▲ +0.75% | ▲ +1.05% | $124.83 (−3.90%) |
May 7, 2026 23w ago | Insider Cluster | $133.45 $125.39 | ▼ −6.04% | ▼ −9.18% | $124.83 (−6.46%) |
Apr 20, 2026 25w ago | 8-K | $134.13 $127.82 | ▲ +4.70% | ▲ +9.62% | $124.83 (+6.93%) |
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