Last $67.08 USD
Change Today -0.09 / -0.13%
Volume 14.7K
BOKF On Other Exchanges
As of 10:50 AM 11/26/14 All times are local (Market data is delayed by at least 15 minutes).

bok financial corporation (BOKF) Snapshot

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04/3/14 - $71.10
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12/5/13 - $61.06
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bok financial corporation (BOKF) Details

BOK Financial Corporation, a financial holding company, offers a range of financial products and services in Oklahoma, Texas, New Mexico, Northwest Arkansas, Colorado, Arizona, and Kansas/Missouri. It operates in three segments: Commercial Banking, Consumer Banking, and Wealth Management. The Commercial Banking segment offers lending, treasury, and cash management services; and customer risk management products to small businesses, middle market, and larger commercial customers, as well as includes TransFund electronic funds transfer network. The Consumer Banking segment provides retail lending and deposit services, and mortgage banking services. The Wealth Management segment provides fiduciary, brokerage and trading, private bank, and investment advisory services, as well as originates loans for high net worth clients. BOK Financial Corporation also provides automated teller machine (ATM), Internet banking, and mobile banking services. As of December 31, 2013, the company operated 206 banking locations and 1,998 TransFund ATM locations. BOK Financial Corporation was founded in 1910 and is headquartered in Tulsa, Oklahoma.

4,669 Employees
Last Reported Date: 10/31/14
Founded in 1910

bok financial corporation (BOKF) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $484.3K
Chief Financial Officer, Executive Vice Presi...
Total Annual Compensation: $439.4K
Chief Operating Officer, Senior Executive Vic...
Total Annual Compensation: $484.3K
Chairman for Bank of Texas and Chief Executiv...
Total Annual Compensation: $403.1K
Compensation as of Fiscal Year 2013.

bok financial corporation (BOKF) Key Developments

BOK Financial to Discontinue Grocery Store Branch Model

BOK Financial is shutting down its grocery store branch model, which will result in the closure of 29 grocery store branches by the first quarter of 2015. The move has been initiated in the wake of increasing adoption of digital banking by consumers for everyday transactions. The branches to be closed include 24 in Oklahoma, three in New Mexico and two in North Texas, while ten remaining instore branches in Northeast and Central Oklahoma will be relocated in their market areas and will stay open until new locations are identified. The branch closures will result in the displacement of about 75 employees. According to the company, some instore branch employees will be placed either in existing open positions or in new relationship banker positions, and displaced employees will also be eligible for severance packages and retention bonuses following the branch closures.

BOK Financial to Close or Relocate 39 In-Store Branches

BOK Financial will close or relocate all of its branches inside grocery stores in New Mexico, Oklahoma and Texas in a move it says will reduce overhead by $7 million to $8 million a year. The $29 billion-asset BOK will record a $5 million charge in the fourth quarter and a $1.5 million charge in the first quarter to cover severance pay and other expenses. BOK expects to finalize the closings by the second quarter. BOK will close 24 locations of its Bank of Oklahoma division in Oklahoma City, Tulsa and three other Oklahoma cities. The branches to be closed are located inside various retailers, including Wal-Mart, Buy for Less, Crest, Food Pyramid, Homeland and Reasor's. Additionally, BOK will close three locations of the Bank of Albuquerque located inside Albertsons stores in New Mexico, and two locations of the Bank of Texas inside Albertsons and Kroger in the Dallas-Fort Worth area. Separate from the closing of 29 branches, BOK will relocate an additional 10 in-store branches in Oklahoma to new locations in the same markets.

BOKF to Shut Down 29 Grocery Store Branches; Relocates to New Sites

BOK Financial will close 29 grocery store branches in three states by the end of February. While BOKF will offer retention bonuses and severance packages to the 75 employees at the closing branches. That will leave BOKF with 10 Bank of Oklahoma grocery locations. These will relocate to new sites within nearby shopping centers over the next 18 to 24 months. The planned relocations will represent BOKF's first new branches since Bank of Kansas City opened its last brick-and-mortar site in 2013.


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Industry Average

Valuation BOKF Industry Range
Price/Earnings 15.4x
Price/Sales 3.6x
Price/Book 1.4x
Price/Cash Flow 15.5x
TEV/Sales NM Not Meaningful

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