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BOK PARENT REPORTS THIRD QUARTER EARNINGS OF $6.8 MILLION, CONTINUING RECORD PACE

 BOK PARENT REPORTS THIRD QUARTER EARNINGS
 OF $6.8 MILLION, CONTINUING RECORD PACE
 TULSA, Okla., Oct. 27 /PRNewswire/ -- BOK Financial Corp. (NASDAQ: BOKF), parent company of Bank of Oklahoma, N.A., announced third quarter earnings of $6.8 million, or 39 cents per fully diluted share, an increase of 45 percent over the third quarter last year. BOK Financial's nine month earnings totaled $18.3 million, or $1.04 per share.
 Both the quarter and year-to-date earnings represent a record pace for the bank and for its parent company and reflect an annualized return on equity of 20.9 percent and a return on assets of 1.23 percent.
 The third quarter and nine month earnings contain no significant gains from asset or securities sales. The income tax provision is at an effective rate of 29.3 percent for the quarter and 27.1 percent year-to- date.
 Management has continued to improve the overall mix of earning assets by shifting from lower yielding securities and short term investments into higher yielding loans. Loans increased during the quarter by $74 million to $1.28 billion at Sept. 30. Total loans Sept. 30, 1991 were $1.04 billion. Total assets at quarter end of $2.03 billion declined by approximately 3 percent from the previous quarter and from one year earlier. Deposits totaled $1.67 billion at Sept. 30, 1992, down from $1.74 billion at June 30 and $1.82 billion at Sept. 30, 1991.
 Capital adequacy of BOK Financial and BOk is strong and continues to grow. Risk adjusted capital, in which equity and reserves are compared to assets on a risk-weighted basis, stands at 10.05 percent and the leverage ratio is 6.15 percent. All capital ratios are well above regulatory requirements.
 Non-performing assets declined slightly to $35.0 million at the end of the quarter, down from $36.3 million at the end of the previous quarter and from $41.8 million at year-end 1991. This is equivalent to 2.72 percent of total loans and non-performing assets, compared to 3.00 percent at last quarter-end and 3.70 percent at year-end 1991.
 Chairman and Chief Executive Officer George B. Kaiser said, "We are very pleased with the continued improvement in earnings, and with the success of our business development efforts.
 "Our previously announced agreement for the acquisition of 19 offices and approximately $520 million in deposits of Sooner Federal Savings awaits regulatory approval, which is expected before year-end. We also expect to consummate our acquisition of Trust Company of Oklahoma, Oklahoma City, in the next few weeks," Kaiser continued.
 "With the acquisitions of Sooner and the Trust Company, BOk will have made tremendous strides in achieving a stronger presence in Oklahoma City, and in broadening the range of services we offer to our customers," Kaiser said.
 Stanley A. Lybarger, president and chief operating officer, said, "We previously dedicated ourselves to better serving small business customers through our new Commercial Banking Center in Oklahoma City and our reorganized center in Tulsa. I am very pleased with the initial success in business development at both offices. We believe we are demonstrating the advantages of this unique combination of small bank responsiveness with large bank services."
 BOK Financial is a one-bank holding company whose principal subsidiary is BOk. The bank presently has 26 locations, 14 in the Oklahoma City area and 12 in Northeastern Oklahoma, principally Tulsa. Following consummation of the Sooner acquisition, the bank will have 45 locations, 21 in the Oklahoma City area and 18 in the Tulsa area, and six offices in other Oklahoma communities. Other operating units include BancOklahoma Mortgage Corp., the largest originator of home loans in the state with a $2.2 billion servicing portfolio, BancOklahoma Trust Co., and the TransFund Automated Teller Machine Network. BOk Trust, which is responsible for over $6 billion in assets, is the leading fiduciary organization in Oklahoma. TransFund is the state's dominant network and has 464 machines installed statewide serving more than 80 financial institutions and 329,000 cardholders.
 BOK Financial common stock is traded in the over-the-counter market under the symbol BOKF, with quotations available through NASDAQ.
 Financial data are attached.
 BOK FINANCIAL CORP.
 (In thousands except for ratio and share data)
 BOK Financial Corp.
 For the quarter ended
 Sept. 30, June 30, Sept. 30,
 FINANCIAL DATA 1992 1992 1992
 Capital
 Average equity $123,077 $116,599 $ 85,745
 Period end equity 126,529 119,490 96,757
 Primary capital 7.77 pct 7.14 pct 6.18 pct
 Risk-based capital ratios:
 Tier I 8.54 8.11 7.01
 Total capital 10.05 9.58 8.47
 Leverage ratio 6.15 5.80 4.86
 Common stock
 Book value per share $ 7.17 $ 6.78 $ 6.11
 Earnings per share
 Primary 0.45 0.41 0.39
 Fully diluted 0.39 0.35 0.32
 Average shares
 outstanding 15,146,104 15,128,486 12,186,343
 Average shares outstanding
 (fully diluted) 17,646,104 17,628,486 14,686,343
 Key ratios
 Return on average
 assets 1.35 pct 1.27 pct 1.00 pct
 Return on average
 equity 22.08 21.58 22.03
 Net yield 4.61 4.50 3.89
 Operating results
 Operating income $ 9,655 $ 8,682 $ 4,906
 Income tax
 Current tax 1,757 1,441 158
 Purchase accounting
 adjustments 1,068 984 ---
 Net income $ 6,830 $ 6,257 $ 4,748
 Per share operating results
 Operating income $ 0.64 $ 0.57 $ 0.40
 Income tax
 Current tax 0.12 0.10 0.01
 Purchase accounting
 adjustments 0.07 0.06 ---
 Net income $ 0.45 $ 0.41 $ 0.39
 Net income
 (fully diluted) $ 0.39 $ 0.35 $ 0.32
 Employees -- FTE 1,233
 For The Nine Months Ended
 1992 1991
 BOK Financial BOK Financial BOk
 Jan.1 - June 7 - Jan. 1 -
 FINANCIAL DATA Sept. 30 Sept. 30(A) June 6
 Capital
 Average equity $ 116,867 $ 82,375 $ (15,808)
 Period end equity
 Primary capital
 Risk-based capital ratios:
 Tier I
 Total capital
 Leverage ratio
 Common stock
 Book value per share
 Earnings per share
 Primary 1.21 1.00
 Fully diluted 1.04 0.84
 Average shares
 outstanding 15,144,178 5,810,353
 Average shares outstanding
 (fully diluted) 17,644,178 6,872,624
 Key ratios
 Return on average
 assets 1.23 pct 0.55 pct
 Return on average
 equity 20.93 12.33
 Net yield 4.45 3.93
 Operating results
 Operating income $ 25,123 $ 5,987 $ 4,498
 Income tax
 Current tax 3,817 197 107
 purchase accounting
 adjustments 2,996 --- ---
 Net income $ 18,310 $ 5,790 $ 4,391
 Per share operating results
 Operating income $ 1.66 $ 1.03
 Income tax
 Current tax 0.25 0.03
 purchase accounting
 adjustments 0.20 ---
 Net income $ 1.21 $ 1.00
 Net income
 (fully diluted) $ 1.04 $ 0.84
 (A) BOK Financial's Sept. 30, 1991 financial data includes the operations of BOk subsequent to its June, 1991 acquisition by BOK Financial.
 BOK FINANCIAL CORP.
 (In thousands except for ratio and share data)
 BOK Financial Corp.
 For the quarter ended
 Sept. 30, June 30, Sept. 30,
 STATEMENTS OF EARNINGS 1992 1992 1991
 Interest revenue $ 33,584 $ 34,411 $ 36,062
 Interest expense 13,342 15,113 20,136
 Net interest revenue 20,242 19,298 15,926
 Provision for loan losses 1,000 1,500 750
 Provision for OREO losses --- --- 313
 Net interest revenue
 after provisions 19,242 17,798 14,863
 Other operating revenue
 Service charges and fees
 on deposit accounts 3,946 3,755 3,320
 Trust income 3,600 3,518 3,182
 Mortgage servicing income 2,688 2,730 2,544
 TransFund network revenue 1,287 1,358 1,281
 Other 3,437 3,570 2,454
 Total 14,958 14,931 12,781
 Other operating expense
 Personnel 12,526 12,252 10,907
 Net occupancy 1,711 1,750 1,946
 Business promotion 681 618 1,186
 Professional fees and
 services 330 822 1,403
 Equipment expense 983 1,258 1,390
 Other 8,314 7,347 5,906
 Total 24,545 24,047 22,738
 Operating income 9,655 8,682 4,906
 Income tax expense
 Current tax 1,757 1,441 158
 Purchase accounting
 adjustments 1,068 984 ---
 Net income $ 6,830 $ 6,257 $ 4,748
 BOK FINANCIAL CORP.
 (In thousands except for ratio and share data)
 For The Nine Months Ended
 1992 1991
 BOK Financial BOK Financial BOk
 Jan.1 - June 7 - Jan. 1 -
 STATEMENTS OF EARNINGS Sept. 30 Sept. 30(A) June 6
 Interest revenue $102,681 $ 47,477 $ 56,961
 Interest expense 44,871 26,500 34,358
 Net interest revenue 57,810 20,977 22,603
 Provision for loan losses 4,000 750 1,500
 Provision for OREO losses --- 313 4,500
 Net interest revenue
 after provisions 53,810 19,914 16,603
 Other operating revenue
 Service charges and fees
 on deposit accounts 11,412 4,190 4,984
 Trust income 10,740 4,001 5,896
 Mortgage servicing income 8,170 3,207 1,466
 TransFund network revenue 3,996 1,713 2,025
 Other 9,714 3,079 3,919
 Total 44,032 16,190 18,290
 Other operating expense
 Personnel 36,777 14,538 16,325
 Net occupancy 5,274 2,569 3,163
 Business promotion 2,451 1,438 1,152
 Professional fees and
 services 2,455 1,791 1,994
 Equipment expense 3,576 1,869 2,283
 Other 22,186 7,912 5,478
 Total 72,719 30,117 30,395
 Operating income 25,123 5,987 4,498
 Income tax expense
 Current tax 3,817 197 107
 Purchase accounting
 adjustments 2,996 --- ---
 Net income $ 18,310 $ 5,790 $ 4,391
 (A) BOK Financial's Sept. 30, 1991 statement of earnings includes operations of BOk subsequent to its June, 1991 acquisition by BOK Financial.
 BOK FINANCIAL CORP.
 (In thousands except for ratio and share data)
 Period end balance
 BOK Financial Corp.
 Sept. 30, June 30, Sept. 30,
BALANCE SHEETS 1992 1992 1991
 Investment securities, at cost:
 Taxable $520,959 $541,582 $625,176
 Tax-exempt 3,298 3,294 5,964
 Total investment
 securities 524,257 544,876 631,140
 Trading securities 699 173 1,526
 Loans:
 Commercial 713,494 700,770 576,524
 Commercial real estate 211,042 196,508 191,227
 Consumer 344,813 298,584 266,434
 All other 8,946 8,847 8,468
 Gross loans 1,278,295 1,204,709 1,042,653
 Reserve for loan losses (33,843) (32,580) (34,882)
 Total loans 1,244,452 1,172,129 1,007,771
 Federal funds sold 26,500 58,000 137,260
 Total interest-earning
 assets 1,795,908 1,775,178 1,777,697
 Cash and due from banks 162,579 243,204 228,667
 Premises and equipment, net 23,132 22,139 30,524
 Other real estate owned, net 7,013 5,696 10,045
 Other assets 41,290 50,792 49,274
 Total Assets $2,029,922 $2,097,009 $2,096,207
 Deposits:
 Demand $ 465,176 $ 500,395 $ 515,481
 Transaction 195,406 186,286 180,201
 Money market 301,621 321,861 349,490
 Time:CDs 527,252 554,075 618,769
 Time:Other 180,433 180,851 160,638
 Total deposits 1,669,888 1,743,468 1,824,579
 Federal funds purchased and
 other borrowings 200,058 178,574 143,238
 Other liabilities 33,447 55,477 31,633
 Equity 126,529 119,490 96,757
 Total Liabilities and
 Equity $2,029,922 $2,097,009 $2,096,207
 CREDIT QUALITY (period end)
 Nonperforming assets:
 Nonaccrual loans $ 25,252 $ 28,273 $ 37,779
 90-days past due loans 1,798 1,074 1,523
 Restructured loans 704 928 976
 OREO (other assets) 7,232 6,043 9,744
 Total nonperforming
 assets $ 34,986 $ 36,318 $ 50,022
 Gross charge-offs $ 883 $ 5,175 $ 2,789
 Less recoveries 482 488 366
 Net charge-offs $ 401 $ 4,687 $ 2,423
 Key Ratios:
 Reserve for loan losses to
 period end loans 2.65 pct 2.70 pct 3.35 pct
 Nonperforming assets to
 period end loans and
 OREO (annualized) 2.72 3.00 4.75
 Net charge-offs to average
 loans (annualized) 0.16 1.62 0.95
 BOK FINANCIAL CORP.
 (In thousands except for ratio and share data)
 Average balance
 BOK Financial Corp.
 For the quarter ended
 Sept. 30, June 30, Sept. 30,
 BALANCE SHEETS 1992 1992 1991
 Investment securities, at cost:
 Taxable $ 526,548 $ 562,992 $ 501,678
 Tax-exempt 3,295 2,919 7,721
 Total investment
 securities 529,843 565,911 509,399
 Trading securities 658 1,173 1,714
 Loans:
 Commercial 695,951 650,455 560,417
 Commercial real estate 207,029 228,377 186,716
 Consumer 316,953 279,334 259,088
 All other 11,282 7,527 4,349
 Gross loans 1,231,215 1,165,693 1,010,570
 Reserve for loan losses (33,914) (36,425) (36,408)
 Total loans 1,197,301 1,129,268 974,162
 Federal funds sold 19,025 28,908 140,200
 Total interest-earning
 assets 1,746,827 1,725,260 1,625,475
 Cash and due from
 banks 167,922 169,718 166,987
 Premises and
 equipment, net 22,868 21,750 30,684
 Other real estate
 owned, net 5,867 6,990 10,840
 Other assets 52,572 56,545 58,392
 Total Assets $1,996,056 $1,980,263 $1,892,378
 Deposits:
 Demand $ 449,003 $ 420,461 $ 385,895
 Transaction 189,890 187,597 165,785
 Money market 309,260 323,503 352,117
 Time:CDs 541,422 569,042 575,075
 Time:Other 181,113 182,142 165,893
 Total deposits 1,670,688 1,682,745 1,644,765
 Federal funds purchased and
 other borrowings 168,475 148,159 131,852
 Other liabilities 33,816 32,760 30,016
 Equity 123,077 116,599 85,745


Total Liabilities and
 Equity $1,996,056 $1,980,263 $1,892,378
 BOK FINANCIAL CORP.
 (In thousands except for ratio and share data)
 Average balance
 For The Nine Months Ended
 1992 1991
 BOK Financial BOK Financial BOk
 Jan.1 - June 7 - Jan. 1 -
 BALANCE SHEETS Sept. 30 Sept. 30(A) June 6
 Investment securities, at cost:
 Taxable $ 556,221 $ 476,893 $ 355,872
 Tax-exempt 3,032 7,842 18,862
 Total investment
 securities 559,253 484,735 374,734
 Trading securities 967 1,805 1,409
 Loans:
 Commercial 656,785 555,415 539,104
 Commercial real estate 218,761 184,528 184,242
 Consumer 289,416 251,852 234,164
 All other 8,431 4,737 3,400
 Gross loans 1,173,393 996,532 960,910
 Reserve for loan losses (35,443) (36,497) (43,102)
 Total loans 1,137,950 960,035 917,808
 Federal funds sold 35,563 149,601 179,093
 Total interest-earning 1,733,733 1,596,176 1,473,044
 assets
 Cash and due from banks 171,656 166,541 158,042
 Premises and equipment,
 net 22,008 30,798 35,439
 Other real estate owned,
 net 7,351 11,491 28,006
 Other assets 56,745 57,466 48,331
 Total Assets $ 1,991,493 $ 1,862,472 $ 1,742,862
 Deposits:
 Demand $ 426,812 $ 381,320 $ 359,361
 Transaction 186,121 159,130 137,101
 Money market 322,719 352,020 335,152
 Time:CDs 561,291 558,664 538,013
 Time:Other 183,966 167,116 161,160
 Total deposits 1,680,909 1,618,250 1,530,787
 Federal funds purchased and
 other borrowings 160,834 129,138 113,547
 Other liabilities 32,883 32,709 24,336
 FDIC interests --- --- 90,000
 Equity 116,867 82,375 (15,808)
 Total Liabilities, FDIC
 Interests and Equity $ 1,991,493 $ 1,862,472 $ 1,742,862
 (A) BOK Financial's Sept. 30, 1991 balance sheet includes the accounts of BOk subsequent to its June, 1991 acquisition by BOK Financial.
 -0- 10/27/92
 /CONTACT: James A. White, executive vice president and chief financial officer, 918-588-6416, or 918-747-7865 (home); or Kimberly Marsh MacLeod, 918-588-6035, or 918-446-5954 (home); or Leslie Paris, 405-272-3386, or 405-840-2417 (home), all of BOK Financial/
 (BOKF) CO: BOK Financial Corp. ST: Oklahoma IN: FIN SU: ERN


GT -- SF008 -- 5600 10/27/92 16:00 EST
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