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BANK OF OKLAHOMA PARENT COMPANY REPORTS RECORD EARNINGS OF $6.3 MILLION FOR SECOND QUARTER

 BANK OF OKLAHOMA PARENT COMPANY REPORTS RECORD EARNINGS OF
 $6.3 MILLION FOR SECOND QUARTER
 TULSA, Okla., July 28 /PRNewswire/ -- BOK Financial Corp. (NASDAQ: BOKF), parent company of Bank of Oklahoma, N.A., announced that it recorded net income of $6.3 million, or 35 cents per share, for the quarter ended June 30, 1992.


BOKF's six month earnings total $11.5 million.
 Earnings for the period were an all-time high for both the bank and for its parent company, and reflect an annualized return on equity of 21.6 percent and a 1.3 percent annualized return on assets.
 The quarter's results include no extraordinary gains, and reflect tax expense recognition at an effective rate of 28 percent. Reported income was achieved after deducting a provision of $1.5 million for future credit losses.
 Total assets increased only slightly from first quarter 1992 to second quarter 1992, while investment securities declined from $586.2 million to $544.9 million, reflecting a shift from these lower yielding assets into loans. Over the past year, loans grew from $933.5 million to $1.2 billion while deposits increased from $1.6 billion to $1.7 billion.
 Capital adequacy of BOK Financial and BOk is well in excess of applicable regulatory requirements. Risk adjusted capital, in which equity and reserves are compared to assets on a risk weighted basis, stands at 9.58 percent for second quarter end 1992, compared to a minimum required level of 7.25 percent (rising to 8 percent at year end). The leverage ratio, tier one capital as a percentage of adjusted average assets, is 5.8 percent, compared to 5.4 percent at first quarter end 1992.
 Non-performing assets remained essentially unchanged at $36.3 million at second quarter end from $36.2 million at first quarter end 1992. As a percentage of the loan and other nonperforming asset portfolio, these problem assets declined slightly from 3.1 percent to 3 percent.
 "Record earnings were derived from continued progress in all of our lines of business," said George B. Kaiser, chairman and chief executive officer. "We are especially pleased with the success of our small business and consumer lending efforts, along with the new banking relationships we have earned in our traditionally strong commercial banking business," Stanley A. Lybarger, president and chief operating officer commented.
 The bank conducted a very successful consumer lending campaign during the quarter, with an emphasis on home equity and personal lines of credit. "Our increased focus on consumer loans is helping BOk expand its retail franchise and achieve a better balance between retail and commercial lending," Lybarger said.
 During the quarter, Bank of Oklahoma was named Trustee for the Oklahoma Turnpike Authority, responsible for managing more than $600 million in bonds. The bank also will provide depository services to the OTA.
 "We are proud of this major, new partnership and pleased the business has been retained by an Oklahoma-based company," Lybarger said.
 ABOUT BOk
 BOK Financial Corp. is a one-bank holding company whose principal subsidiary is Bank of Oklahoma. The bank has 26 locations, 14 in the Oklahoma City area and 12 in northeastern Oklahoma, principally Tulsa. Other operating units include BancOklahoma Mortgage Corp., the largest originator of home loans in the state with a $2.2 billion servicing portfolio and the TransFund Automated Teller Machine Network. TransFund is the state's dominant network with 438 machines installed statewide and more than 80 financial institutions and 342,000 cardholders.
 BOK Financial Corp. common stock is traded in the over-the- counter market under the symbol BOKF, with quotations available through NASDAQ.
 BOK FINANCIAL CORPORATION
 (In thousands except for ratio and share data)
 BOK Financial Corporation
 For the quarter ended
 June 7 -
 June 30, March 31, June 30,
 FINANCIAL DATA 1992 1992 1991(1)
 Capital
 Average equity $ 116,599 $ 110,857 $ 72,041
 Period end equity 119,490 113,105 72,043
 Primary capital (pct.) 7.14 7.05 5.94
 Risk-based capital ratios:
 Tier I 8.11 7.87 6.16
 Total capital 9.58 9.34 7.62
 Leverage ratio 5.80 5.43 4.02
 Common stock
 Book value per share $ 6.78 $ 6.42 $ 5.89
 Earnings per share
 Primary 0.41 0.35 0.26
 Fully diluted 0.35 0.30 0.22
 Average shares outstanding 15,127,849 15,096,300 3,826,272
 Average shares outstanding
 (fully diluted) 17,627,849 17,596,300 4,478,446
 Key ratios
 Return on average assets (pct.) 1.27 1.05 0.69
 Return on average equity 21.58 18.95 16.94
 Net yield 4.50 4.25 4.01
 Operating results
 Operating income $ 8,682 $ 6,786 $ 1,042
 Income tax
 Current tax 1,441 619 39
 purchase accounting 984 944 -
 adjustments
 Net income $ 6,257 $ 5,223 $ 1,003
 Per share operating results
 Operating income $ 0.57 $ 0.45 $ 0.27
 Income tax
 Current tax 0.10 0.04 0.01
 purchase accounting 0.06 0.06 -
 adjustments
 Net income $ 0.41 $ 0.35 $ 0.26
 Net income (fully diluted) $ 0.35 $ 0.30 $ 0.22
 Employees - FTE 1,246
 (1) BOK Financial's June 30, 1991 financial data includes the
 operations of BOk subsequent to its June, 1991 acquisition
 of BOk.
 BOK FINANCIAL CORPORATION
 (In thousands except for ratio and share data)
 BOK Financial Corporation
 For the quarter ended
 June 7 -
 June 30, March 31, June 30,
 STATEMENTS OF EARNINGS 1992 1992 1991(1)
 Interest revenue $ 34,411 $ 34,686 $ 11,334
 Interest expense 15,113 16,416 6,364
 Net interest revenue 19,298 18,270 4,970
 Provision for loan losses 1,500 1,500 -
 Provision for OREO losses - - -
 Net interest revenue
 after provisions 17,798 16,770 4,970
 Other operating revenue
 Service charges and fees
 on deposit accounts 3,755 3,711 870
 Trust income 3,518 3,622 819
 Mortgage servicing income 2,730 2,752 663
 TransFund network revenue 1,358 1,287 432
 Other 3,570 2,771 625
 Total 14,931 14,143 3,409
 Other operating expense
 Personnel 12,252 12,039 3,631
 Net occupancy 1,750 1,813 623
 Business promotion 618 1,152 252
 Professional fees and
 services 822 1,303 350
 Equipment expense 1,258 1,335 479
 Other 7,347 6,485 2,002
 Total 24,047 24,127 7,337
 Operating income 8,682 6,786 1,042
 Income tax expense
 Current tax 1,441 619 39
 Purchase accounting
 adjustments 984 944 -
 Net income $ 6,257 $ 5,223 $ 1,003
 (1) BOK Financial's June 30, 1991 statement of earnings include
 operations of BOk subsequent to its June, 1991 acquisition
 of BOk.
 BOK FINANCIAL CORPORATION
 (In thousands except for ratio and share data)
 April 1 -
 June 6,
 STATEMENTS OF EARNINGS 1991
 Interest revenue $ 22,501
 Interest expense 13,468
 Net interest revenue 9,033
 Provision for loan losses 1,000
 Provision for OREO losses 3,000
 Net interest revenue
 after provisions 5,033
 Other operating revenue
 Service charges and fees
 on deposit accounts 2,068
 Trust income 2,620
 Mortgage servicing income 674
 TransFund network revenue 864
 Other 1,430
 Total 7,656
 Other operating expense
 Personnel 6,576
 Net occupancy 1,365
 Business promotion 548
 Professional fees and
 services 780
 Equipment expense 931
 Other 672
 Total 10,872
 Operating income 1,817
 Income tax expense
 Current tax (4)
 Purchase accounting
 adjustments -
 Net income $ 1,821
 BOK FINANCIAL CORPORATION
 (In thousands except for ratio and share data)
 Period end balance
 BOK Financial Corporation
 June 30, March 31, June 30,
 BALANCE SHEETS 1992 1992 1991
 Investment securities, at cost:
 Taxable $ 541,582 $ 583,289 $ 424,347
 Tax-exempt 3,294 2,878 8,209
 Total investment
 securities 544,876 586,167 432,556
 Trading securities 173 393 1,598
 Loans:
 Commercial 700,770 650,184 548,835
 Commercial real estate 196,508 222,308 176,473
 Consumer 298,584 282,977 241,945
 All other 8,847 7,476 2,793
 Reserve for loan losses (32,580) (35,767) (36,555)
 Total loans 1,172,129 1,127,178 933,491
 Federal funds sold 58,000 70,540 143,200
 Total interest-earning 1,775,178 1,784,278 1,510,845
 assets
 Cash and due from banks 243,204 205,493 186,522
 Premises and equipment, net 22,139 21,437 31,079
 Other real estate owned, net 5,696 9,641 11,137
 Other assets 50,792 56,319 52,383
 Total Assets $ 2,097,009 $ 2,077,168 $ 1,791,966
 Deposits:
 Demand $ 500,395 $ 462,031 $ 398,096
 Transaction 186,286 184,359 136,866
 Money market 321,861 318,091 355,468
 Time:CDs 554,075 567,403 504,607
 Time:Other 180,851 188,466 172,537
 Total deposits 1,743,468 1,720,350 1,567,574
 Federal funds purchased and
 other borrowings 178,574 211,091 119,478
 Other liabilities 55,477 32,622 32,871
 Equity 119,490 113,105 72,043
 Total Liabilities and
 Equity $ 2,097,009 $ 2,077,168 $ 1,791,966
 CREDIT QUALITY (period end)
 Nonperforming assets:
 Nonaccrual loans $ 28,273 $ 23,743 $ 28,302
 90-days past due loans 1,074 1,032 1,511
 Restructured loans 928 936 985
 OREO (other assets) 6,043 10,485 10,708
 Total nonperforming assets $ 36,318 $ 36,196 $ 41,506
 Gross charge-offs $ 5,175 $ 1,712 $ 111
 Less recoveries 488 484 213
 Net charge-offs $ 4,687 $ 1,228 $ (102)
 Key Ratios:
 Reserve for loan losses to
 period end loans (pct.) 2.70 3.08 3.77
 Nonperforming assets to
 period end loans and
 OREO (annualized) 3.00 3.08 4.23
 Net charge-offs to average
 loans (annualized) 1.62 0.44 n/m
 BOK FINANCIAL CORPORATION
 (In thousands except for ratio and share data)
 Average balance
 BOK Financial Corporation
 For the quarter ended
 June 7 -
 June 30, March 31, June 30,
 BALANCE SHEETS 1992 1992 1991(1)
 Investment securities, at cost:
 Taxable $ 562,992 $ 579,446 $ 400,886
 Tax-exempt 2,919 2,881 8,212
 Total investment
 securities 565,911 582,327 409,098
 Trading securities 1,173 1,074 2,084
 Loans:
 Commercial 650,455 623,522 540,080
 Commercial real estate 228,377 221,006 177,817
 Consumer 279,334 271,660 229,661
 All other 7,527 6,448 5,926
 Reserve for loan losses (36,425) (36,004) (36,770)
 Total loans 1,129,268 1,086,632 916,714
 Federal funds sold 28,908 58,937 178,430
 Total interest-earning
 assets 1,725,260 1,728,970 1,506,326
 Cash and due from banks 169,718 177,370 165,172
 Premises and equipment, net 21,750 21,393 31,147
 Other real estate owned, net 6,990 9,894 13,489
 Other assets 56,545 60,486 54,628
 Total Assets $ 1,980,263 $ 1,988,113 $ 1,770,762
 Deposits:
 Demand $ 420,461 $ 410,728 $ 367,287
 Transaction 187,597 180,835 138,719
 Money market 323,503 188,675 170,868
 Total deposits 1,682,745 1,689,406 1,536,936
 Federal funds purchased and
 other borrowings 148,159 165,783 120,816
 Other liabilities 32,760 32,067 40,969
 Equity 116,599 110,857 72,041
 Total Liabilities and
 Equity $ 1,980,263 $ 1,998,113 $ 1,770,762
 (1) BOK Financial's June 30, 1991 balance sheet includes the
 accounts of BOk subsequent to its June, 1991 acquisition of
 BOk.
 BOK FINANCIAL CORPORATION
 (In thousands except for ratio and share data)
 Average
 Balance
 April 1 -
 June 6,
 BALANCE SHEETS 1991
 Investment securities, at cost:
 Taxable $ 358,824
 Tax-exempt 14,961
 Total investment
 securities 373,785
 Trading securities 1,256
 Loans:
 Commercial 545,400
 Commercial real estate 181,373
 Consumer 227,010
 All other 2,910
 Reserve for loan losses (41,738)
 Total loans 914,955
 Federal funds sold 180,047
 Total interest-earning
 assets 1,470,043
 Cash and due from banks 152,852
 Premises and equipment, net 35,102
 Other real estate owned, net 20,722
 Other assets 53,545
 Total Assets $ 1,732,264
 Deposits:
 Demand $ 347,058
 Transaction 137,719
 Money market 341,876
 Time:CDs 528,179
 Time:Other 170,535
 Total deposits 1,525,367
 Federal funds purchased and
 other borrowings 107,464
 Other liabilities 22,576
 FDIC interest 90,000
 Equity (13,143)
 Total Liabilities, FDIC
 Interest and Equity $ 1,732,264
 -0- 7/28/92
 /CONTACT: Stanley A. Lybarger, 918-588-6888 or 918-298-4011 (home); James A. White, 918-588-6416 or 918-747-7865 (home); Kimberly Marsh, 918-588-6035 or 918-446-5954 (home); or Leslie Paris, 405-272-3386 or 918-840-2417 (home)/
 (BOKF) CO: Bank of Oklahoma; Bank of Oklahoma Financial Corp. ST: Oklahoma IN: FIN SU: ERN


JL -- SF012 -- 4297 07/28/92 17:25 EDT
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