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BOK Financial
16 ноября, 18:04

BOK Financial Obtains Fed Nod to Acquire MBT Bancshares

Oklahoma-based financial holding company, BOK Financial Corporation (BOKF) has received approval from the Federal Reserve regarding its deal to acquire MBT Bancshares, announced in Dec 2015.

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15 ноября, 23:30

Federal Reserve Board announces approval of application by BOK Financial Corporation

Federal Reserve Board announces approval of application by BOK Financial Corporation

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27 октября, 17:33

BOK Financial upgraded to neutral from underperform at Macquarie

This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news.

29 сентября, 18:33

BOK Financial's Margin Pressure Lingers Amid Low Rate

On Sep 28, 2016, we issued an updated research report on BOK Financial Corporation (BOKF)

12 сентября, 23:59

BOK Financial to Pay $1.6M for Failing "Gatekeeper Role"

A subsidiary of Oklahoma-based BOK Financial Corporation (BOKF) has agreed to settle charges of the Securities and Exchange Commission (SEC) by paying more than $1.6 million.

15 июля, 13:25

Топ-10 самых щедрых благотворителей современности

Американский миллиардер и инвестор, основатель компании Berkshire Hathaway Уоррен Баффет в среду пожертвовал на благотворительные цели $2,86 млрд, сообщает MarketWatch.

15 июля, 13:25

Топ-10 самых щедрых благотворителей современности

Американский миллиардер и инвестор, основатель компании Berkshire Hathaway Уоррен Баффет в среду пожертвовал на благотворительные цели $2,86 млрд, сообщает MarketWatch.

03 марта, 00:30

BOK Financial Completes Weaver Wealth Management Acquisition

Strengthening its asset management business, BOK Financial Corporation (BOKF) completed the acquisition of Weaver Wealth Management.

19 февраля, 23:40

Bank Stock Roundup: No Signs of Imminent Recovery; Citigroup, Capital One Offset the Slump

Over the last four trading days, bank stocks were on a roller coaster ride. Though nothing changed much on the fundamental front, overall performance of banking stocks were not negative.

16 февраля, 17:30

The Zacks Analyst Blog Highlights: BOK Financial, Wells Fargo, U.S. Bancorp, KeyCorp and First Niagara Financial Group

The Zacks Analyst Blog Highlights: BOK Financial, Wells Fargo, U.S. Bancorp, KeyCorp and First Niagara Financial Group

10 февраля, 14:03

Агентство S&P снизило рейтинги четырех американских региональных банков

Международное агентство Standard & Poor's заявило о снижении кредитных рейтингов четырех американских региональных банков, сославшись на ухудшение качества их займов, имеющих отношение к нефтегазовой отрасли. Так, долгосрочные кредитные рейтинги BOK Financial и Comerica были снижены с "А-" до "ВВВ+", в то время как рейтинги банков Cullen/Frost Bankers и Texas Capital Bancshares были ухудшены с "А" до "А-" и с "ВВВ-" до "ВВ+" соответственно. Заметим, что прогнозы по рейтингам всех четырех банков "негативные".

10 февраля, 10:23

Агентство S&P снизило рейтинги четырех американских региональных банков

Международное агентство Standard & Poor's заявило о снижении кредитных рейтингов четырех американских региональных банков, сославшись на ухудшение качества их займов, имеющих отношение к нефтегазовой отрасли. Так, долгосрочные кредитные рейтинги BOK Financial и Comerica были снижены с "А-" до "ВВВ+", в то время как рейтинги банков Cullen/Frost Bankers и Texas Capital Bancshares были ухудшены с "А" до "А-" и с "ВВВ-" до "ВВ+" соответственно. Заметим, что прогнозы по рейтингам всех четырех банков "негативные".

10 февраля, 01:35

S&P Downgrades Banks With Highest Energy Exposure; Expects "Sharp Increase" In Non-Performing Assets

Moments ago S&P continued its downgrade cycle, this time taking the axe to the regional banks with the highest energy exposure due to "expectations for higher loan losses." Specifically, its lowered its long-term issuer credit ratings on four U.S. regional banks by one notch: BOK Financial Corp., Comerica Inc., Cullen/Frost  Bankers Inc., and Texas Capital Bancshares. The  outlooks on these banks are negative. It also revised the outlook on BBVA Compass Bancshares to negative from stable and affirmed the 'BBB+/A-2' issuer  credit ratings. We assume the non-regional mega banks are insulated from such actions because they are the primary beneficiaries of the Fed's generous $2.5 trillion in excess reserves which will allow banks to mask as much of O&G portfolio deterioration as is necessary to "weather the cycle." What is notable is that among the S&P non-sugarcoated comments are some true fire and brimstone gems, which suggest that the big picture for banks with substantial energy exposure is about to get far worse. Here is what S&P said: These rating actions follow a review of U.S. regional banks with large energy  loan portfolios as a percentage of both total loans and Tier 1 capital. Since we revised our outlooks to negative on five regional banks in January 2015, energy prices have declined by more than one-third and the asset quality of energy loan portfolios has deteriorated materially, albeit from fairly benign levels. Throughout 2015, criticized and classified assets climbed significantly, and in the fourth quarter, several regional banks with large energy loan portfolios reported increases in loan loss provisions and energy loss reserves to varying degrees, and, in certain cases, nonperforming assets (NPAs) also rose.   Given further declines in energy prices in recent months, less hedging activity by borrowers, and potentially more difficulty for borrowers to cure (i.e., resolve) borrowing base deficiencies through capital raises or asset sales, we think troubled debt restructurings and NPAs in the energy sector will increase, possibly sharply, in coming quarters. We also think banks will increasingly emphasize the potential loss content among rising levels of NPAs that we expect to see throughout 2016. In addition, we think regulatory scrutiny of energy loan portfolios will increase in 2016, including during the upcoming Shared National Credit (SNC) exams (two will be conducted in 2016) and the annual stress tests regulators mandate, which may encourage the use of higher loss assumptions.   Many banks have been lowering their energy price assumptions ("price decks") for exploration and production (E&P) loans throughout 2015, resulting in reduced borrowing bases (the value of a borrower's reserves against which banks typically lend). In the next semiannual borrowing-base determination this spring, we expect that borrowing bases will decline further, mainly because of lower energy prices (i.e., valuations) and possibly lower reserve replacement, which could lead to more borrower deficiencies (i.e., loan balances that are greater than the borrowing base). Although banks typically allow borrowers as long as six months to resolve a deficiency, we think many borrowers will have fewer options to cure through debt capital issuances or asset sales and dispositions, which were more common last year. Specifically, the cost of capital has increased for many borrowers, and private equity firms may be less willing to commit additional capital to resolve deficiencies. In addition, E&P borrowers may have unsecured debt in addition to their reserve-based loans, which could pressure their overall finances and push them into default or bankruptcy.   Equally as important, we think the performance of indirect credit exposures in local energy-focused markets could deteriorate somewhat over the next two years. Although deterioration has not yet been meaningful, we still think the energy price slump could hurt commercial real estate (CRE) in these local markets, such as Houston or smaller cities in Texas, throughout 2016 and 2017. However, we recognize that lower energy prices could have a broad-based positive impact on U.S. consumers and corporations where energy is a significant input cost. We are also wary of strategies that some banks may execute to aggressively grow their loan portfolios in other loan segments, such as CRE, in order to offset contraction in their energy loan portfolios.   Although we expect that banks will likely continue to increase their loan loss provisions and reserves within their energy loan portfolios over the next several quarters, we consider that currently low NPAs, solid preprovision earnings generation, and, in some cases, high risk-adjusted capital (RAC) ratios offer the banks a cushion to absorb higher loan loss provisions. This was a key factor in our decision to limit our rating actions to one notch at this point.   In our analysis of these companies, we evaluate the potential impact of certain adverse scenarios, based on default and net loan loss assumptions for different types of energy lending. For example, we expect that E&P reserve-based lending will have lower net loss rates than energy services lending because of conservative advance rates on reserve collateral. We will continue to consider the array of possible assumptions regarding energy loan default and net loss rates, as the cycle develops. At this time, however, we do not believe that these banks' loan loss provisions would exceed preprovision earnings under most foreseeable scenarios, and, thus, our rating actions following this review were limited to a one-notch downgrade.   The following table presents a few of the key metrics we are tracking and lists the banks that are included in today's actions, as well as others we believe have above-average exposure to energy.   Is that the end of it? Not even close. Expect much more pain - initially among the regional lenders, many of whom have been given explicit instructions to extend and pretnd as long as possible by the Dallas Fed as reported exclusively here before - before we reach a true bottom in bank exposure. Finally, for the full list, here is a breakdown from Raymond James laying out the US banks, both regional and national, with the highest exposure to energy: while some of these were just downgraded, this was for a reason: expect much more negative surprises from these lenders in the coming months as more shale stop servicing their debts.

14 января, 17:30

BOK Financial's Q4 Provision Outlook Triggers Sell-off

BOK Financial's shares plunged 8.3% after the company announced additional reserve building against its energy loan book

14 января, 16:45

BOK Financial (BOKF) in Focus: Stock Tanks 8.3%

BOK Financial saw a big move last session, continuing the downward trend for the stock as the shares are down over 18% in the past one-month time frame

13 января, 23:17

Is This The Start: Regional Bank Tumbles After Admitting To Previously Underreserved Energy Loss

While the energy carnage over the past year has impaired commodities, mostly oil, and increasingly the equity and bond prices of US energy companies, so far one industry has been left relatively unscathed: banks. The reason for this was that over the past year banks have, in filings, earnings calls and investor meetings, taken every possible opportunity to assure investors they all overly provisioned for any potential losses stemming from their exposure to impaired energy loans (despite not one but two consecutive quarters of Jefferies earnings fiascos). All of this changed today when BOK financial, a $31 billion regional financial services company based in Tulsa, Oklahoma with a $3.4 billion market cap lender covering the West South Central States region of the United States, announced that not only was it overly optimistic with its "previously forecasted a provision for credit losses of $3.5 million to $8.5 million", and as a result of a major loan impairment on just one energy producer it would have to take a dramatic $22.5 million in credit losses, but that things are slowly going from great to not so great when it also admitted that "we continued to see credit grade migration and increased impairment in our energy portfolio. The combination of factors necessitated a higher level of provision expense." BOK Financial is the first bank to admit its rose-colored glasses no longer fit: we expect many more banks with billions in energy exposure to admit they too have been overly optimistic and to send their credit loss reserves soaring even as they have no choice but to admit major charge offs on existing loan portfolios. But it's just a $22.5 million loss, what's the big deal? That may be a good question for the shareholder, who have taken the axe to BOKF stock, which just today has wiped out $300 million in market cap. Full 8-K below: BOK Financial Corporation (NASDAQ:BOKF) today announced that its provision for credit losses for the fourth quarter of 2015 is expected to be $22.5 million. The company had previously forecasted a provision for credit losses of $3.5 million to $8.5 million for the quarter.   Stacy Kymes, executive vice president, Corporate Banking, commented, “A single borrower reported steeper than expected production declines and higher lease operating expenses, leading to an impairment on the loan. In addition, as we noted at the start of the commodities downturn in late 2014, we expected credit migration in the energy portfolio throughout the cycle and an increased risk of loss if commodity prices did not recover to a normalized level within one year. As we are now into the second year of the downturn, during the fourth quarter we continued to see credit grade migration and increased impairment in our energy portfolio. The combination of factors necessitated a higher level of provision expense."   Steven Nell, chief financial officer, added, “Aside from the increased loan loss provision, fourth quarter results were softer than expected, largely due to lower fee income and expenses that were slightly above our forecasted range. As a result, net income for the fourth quarter, including the impact of the increased provision, is expected to be $58 million to $61 million, or $0.87 to $0.91 per diluted share. We will provide additional details on fourth quarter results, and update our guidance for the 2016 loan loss provision, when we announce earnings at the end of the month.”

06 января, 19:40

BOK Financial Expands; to Buy Weaver Wealth Management

Strengthening its asset management business, BOK Financial Corporation (BOKF) is set to acquire Weaver Wealth Management

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05 января, 23:10

Prosperity (PB) Closes Latest Deal: What Next in the Cards?

Prosperity Bancshares Inc. (PB) completed the deal to acquire Tradition Bancshares. Will the company undertake more such deals in the near future?

05 января, 02:17

16 Bank Stocks to Watch in 2016 as Rates Rise

The finance sector that includes banks, insurance companies, brokerage firms and money managers will benefit from rising rates.