Tulsa-based BOK Financial Corp. has been recognized by two separate organizations for its financial growth and consistent profitability.
In the April edition of the ABA Banking Journal, BOK ranked ninth on the publication’s list of Top Performing Big Banks – those with assets of $10 billion or more. BOK, which operates Bank of Oklahoma, was also named one of 47 banking institutions to the annual KBW Bank Honor Roll.
ABA Banking Journal looked at 64 public banks and holding companies and 15 private institutions, which were ranked by return on average total equity, or ROAE, for 2012. The term refers to the performance of a company over a financial year
To be among the top 10, a bank needed an ROAE of 12 percent or higher. BOK Financial’s 2012 ROAE was 12.09 percent.
Last year, BOK Financial experienced significantly stronger commercial loan growth than residential mortgage loan growth, according to the publication. The company’s mortgage banking revenues nearly doubled from $91 million to $169 million, contributing to a 12 percent increase in noninterest income and a 7 percent increase in revenues.
The article also notes that throughout 2012, BOK Financial hired new mortgage bankers, expanded mortgage lending into new markets and established a correspondent banking channel for originations.
It also benefited from increased wealth management revenues after it acquired The Milestone Group, a Denver-based independent wealth-management firm with nearly $1.3 billion in assets under management.
The KBW Bank Honor Roll, meanwhile, acknowledges banking institutions that achieved positive earnings per share growth trends over the last decade, regardless of the economic environment.
To be included in the honor roll, banks with more than $500 million in total assets must have no annual loss reported in net income per share before extraordinary items over the past 10 years. An “extraordinary item” is the result of unforeseen and atypical events and usually is accounted for separately on financial statements so it doesn’t skew the company’s regular earnings.
Banks also had to have consecutive increases in net income per share before extraordinary items since 2009.
Top performing banks
Based on return on average total equity for 2012
1. Texas Capital Bancshares, Dallas
2. Bank of Hawaii Corp.
3. U.S. Bancorp, Minneapolis
4. First Republic Bank, San Francisco
5. Wells Fargo Co., San Francisco
6. BankUnited, Miami Lakes, Fla.
7. Signature Bank, New York
8. East West Bancorp, Pasadena, Calif.
9. BOK Financial Corp., Tulsa
10. Commerce Bancshares, Kansas City, Mo.
Source: ABA Banking Journal (April 2013)
Laurie Winslow 918-581-8466
laurie.winslow@tulsaworld.com
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