Will your money BOK? Multibank holding company BOK Financial tries to make sure it is. With seven principal banking divisions in eight midwestern and southwestern states, BOK offers a range of financial services to consumers and regional businesses. In addition to traditional deposit, lending, and trust services, the banks provide investment management, wealth advisory, and mineral and real estate management services through a network of about 200 branches in Arizona, Arkansas, Colorado, Kansas, Missouri, New Mexico, Oklahoma, and Texas. Brokerage subsidiary BOSC underwrites public, private, and municipal securities. BOK also owns electronic funds network TransFund and institutional asset manager Cavanal Hill.
BOK emphasizes local decision-making at its flagship subsidiary Bank of Oklahoma and its operating divisions Bank of Texas, Bank of Albuquerque, Bank of Arkansas, Colorado State Bank, Bank of Kansas City, and Bank of Arizona. Commercial loans, primarily to the energy, services, health care, and wholesale and retail industries, make up the majority of the company's loan portfolio. Commercial real estate, residential mortgage, car, and consumer loans round out its lending activities.
With nearly half of its business in its home state of Oklahoma, BOK is looking to metropolitans areas such as Dallas/Fort Worth, Houston, Denver, Kansas City, and Phoenix for expansion, either through acquisitions or by opening new branches. The company is also focused on diversifying its revenue stream by growing its mortgage banking, brokerage, and wealth management operations. (In 2012 it acquired Denver-based The Milestone Group, which oversees some $1.3 billion for wealthy investors.) The strategy has paid off in 2010 and 2011 as fee income increased both years. An improved economic environment, which led to more favorable interest rate spreads and better credit quality in the bank's portfolio, also contributed to a 16% increase in net income for BOK in 2011.
Oilman and company chairman George Kaiser owns about 60% of BOK Financial. – less
3 salaries reported
$8.55 per hour