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BOk PARENT REPORTS RECORD EARNINGS

 TULSA, Okla., April 27 /PRNewswire/ -- BOk Financial Corp. (NASDAQ: BOKF), parent company of the Bank of Oklahoma, N.A. today announced earnings before extraordinary items for the first quarter, 1993, of $7.6 million, or 42 cents per fully diluted share, an increase of 46 percent from the first quarter last year, when the company reported earnings of $5.2 million, or 30 cents per share. The company also reported income of $1.6 million related to the realization of tax benefits resulting from a change in accounting principle. As a result, net income was $9.2 million for the quarter.
 The quarter continues a record setting pattern for the company, as earnings for each of the last five quarters have been all-time records for BOK Financial. Return on assets was 1.2 percent and return on equity 21.7 percent for the quarter, exclusive of the accounting change. Gains on sale of other real estate owned amounted to $1.1 million and were partially offset by a write-down of mortgage servicing rights that exceeded scheduled amortization by $0.5 million.
 This represented the first full quarter for the company's operation of the 19 branch offices of Sooner Federal Savings acquired at year-end, 1992. The deposits received in that acquisition, approximately $494 million, were invested primarily in short and medium term mortgage related securities. The favorable spread from this reinvestment contributed to the increase in earnings. Significant improvement in most fee based activities also contributed to the earnings growth.
 Loan levels slowed their growth from previous quarters. Loans averaged $1.298 billion for the quarter, compared to $1.122 billion for the first quarter, 1992, and $1.287 billion for the immediately preceding quarter. BOk remains by far the largest lender to both corporations and individuals in the state.
 Stanley A. Lybarger, president and chief operating officer, said, "The highly successful acquisition of the Sooner offices enabled us to thoroughly cover both Tulsa and Oklahoma City metropolitan areas with unequaled branch networks. Our pending Tulsa acquisitions of Brookside and Sand Springs banks will only serve to improve our position. During the second quarter, we will be opening our first full service supermarket branches, and by the end of the summer we will offer the full range of consumer banking services to our customers at five convenient in-store branches."
 BOK Financial is a one bank holding company whose principal subsidiary is BOk. The bank presently has 45 locations, including 21 in the Oklahoma City area and 18 in Northeastern Oklahoma, principally Tulsa. The bank has six other locations in smaller communities throughout Oklahoma. Other operating units include BancOklahoma Mortgage Corp., the largest originator of home loans in the state with a servicing portfolio of $2.1 billion, BancOklahoma Trust Co., and the TransFund Automated Teller Machine Network. BancOklahoma 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 504 machines installed statewide serving 84 financial institutions and 385,000 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)
 For the quarter ended
 March 31, March 31,
 FINANCIAL DATA 1993 1992
 Capital
 Average equity $ 142,873 $ 110,857
 Period end equity 148,217 113,105
 Primary capital 6.75pct 7.05pct
 Risk-based capital ratios:
 Tier I 7.71 7.87
 Total capital 10.40 9.34
 Leverage ratio 4.98 5.43
 Common stock
 Book value per share $ 8.20 $ 6.42
 Earnings per share
 Prior to FAS 109 adoption
 Primary 0.49 0.35
 Fully diluted 0.42 0.30
 After FAS 109 adoption
 Primary 0.59 0.35
 Fully diluted 0.51 0.30
 Average shares outstanding 15,660,669 15,096,300
 Average shares outstanding
 (fully diluted) 18,173,219 17,596,300
 Key ratios
 Return on average assets (1) 1.24pct 1.05pct
 Return on average equity (1) 21.68 18.95
 Net yield 4.06 4.25
 Operating results
 Operating income $ 10,911 $ 6,786
 Income tax
 Current tax 3,273 619
 Purchase accounting
 adjustments --- 944
 Income before adoption of
 FAS 109 7,638 5,223
 Cumulative effect of adoption
 of FAS 109 1,600 ---
 Net income after adoption of
 FAS 109 $ 9,238 $ 5,223
 Per share operating results
 Operating income $ 0.70 $ 0.45
 Income tax
 Current tax 0.21 0.04
 Purchase accounting
 adjustments --- 0.06
 Income before adoption of
 FAS 109 0.49 0.35
 Cumulative effect of adoption
 of FAS 109 0.10 ---
 Net income after adoption of
 FAS 109 $ 0.59 $ 0.35
 Fully diluted:
 Net income before adoption of
 FAS 109 $ 0.42 $ 0.30
 Cumulative effect of adoption
 of FAS 109 0.09 ---
 Net income after adoption of
 FAS 109 $ 0.51 $ 0.30
 Employees - FTE 1,431
 (1) Ratios are before adoption of FAS 109, Accounting for
 Income Taxes.
 BOK FINANCIAL CORP.
 (In thousands except for ratio and share data)
 For the quarter ended:
 March 31, March 31,
 STATEMENTS OF EARNINGS 1993 1992
 Interest revenue $ 38,076 $ 34,686
 Interest expense 15,907 16,416
 Net interest revenue 22,169 18,270
 Provision for loan losses 1,350 1,500
 Provision for OREO losses --- ---
 Net interest revenue
 after provisions 20,819 16,770
 Other operating revenue
 Service charges and fees
 on deposit accounts 4,857 3,711
 Trust income 4,428 3,622
 Mortgage servicing income 2,658 2,752
 TransFund network revenue 1,501 1,287
 Other 3,780 2,771
 Total 17,224 14,143
 Other operating expense
 Personnel 13,407 12,039
 Net occupancy 1,974 1,813
 Business promotion 1,647 1,152
 Professional fees and
 services 1,362 1,303
 Equipment expense 1,157 1,335
 Other 7,585 6,485
 Total 27,132 24,147
 Operating income 10,911 6,786
 Income tax expense
 Current tax 3,273 619
 Purchase accounting
 adjustments --- 944
 Income before adoption of
 FAS 109 7,638 5,223
 Cumulative effect of adoption
 of FAS 109 1,600 ---
 Net income after adoption of
 FAS 109 $ 9,238 $ 5,223
 BOK FINANCIAL CORP.
 (In thousands except for ratio and share data)
 Period end balance
 March 31, March 31,
 BALANCE SHEETS 1993 1992
 Investment securities, at cost:
 Taxable $ 951,469 $ 583,289
 Tax-exempt 27,741 2,878
 Total investment
 securities 979,210 586,167
 Trading securities 979 393
 Loans:
 Commercial 717,507 650,184
 Commercial real estate 230,648 222,308
 Consumer 354,154 282,977
 All other 5,319 7,476
 Gross loans 1,307,628 1,162,945
 Reserve for loan losses (33,895) (35,767)
 Total loans 1,273,733 1,127,178
 Federal funds sold 38,280 70,540
 Total interest-earning
 assets 2,292,202 1,784,278
 Cash and due from banks 258,014 205,493
 Premises and equipment, net 28,095 21,437
 Other real estate owned, net 7,195 9,641
 Other assets 77,022 56,319
 Total Assets $ 2,662,528 $ 2,077,168
 Deposits:
 Demand $ 528,714 $ 462,031
 Transaction 277,240 184,359
 Money market 385,471 318,091
 Time:CDs 790,041 567,403
 Time:Other 254,293 188,466
 Total Deposits 2,235,759 1,720,350
 Federal funds purchased and
 other borrowings 224,257 211,091
 Other liabilities 31,295 32,622
 Capital note 23,000 ---
 Equity 148,217 113,105
 Total Liabilities and
 Equity $ 2,662,528 $ 2,077,168
 CREDIT QUALITY (period end)
 Nonperforming assets:
 Nonaccrual loans $ 18,212 $ 23,743
 90-days past due loans 1,445 1,032
 Restructured loans 622 936
 OREO (other assets) 7,699 10,485
 Total nonperforming
 assets $ 27,978 $ 36,196
 Gross charge-offs $ 207 $ 1,712
 Less recoveries 551 484
 Net charge-offs
 (recoveries) $ (344) $ 1,228
 Key Ratios:
 Reserve for loan losses to
 period end loans (pct.) 2.59 3.08
 Nonperforming assets to
 period end loans and
 OREO (annualized) 2.13 3.08
 Net charge-offs to average
 loans (annualized) (0.11) 0.44
 BOK FINANCIAL CORP.
 (In thousands except for ratio and share data)
 Average balance
 For the quarter ended:
 March 31, March 31,
 BALANCE SHEETS 1993 1992
 Investment securities, at cost:
 Taxable $ 797,178 $ 579,446
 Tax-exempt 12,339 2,881
 Total investment
 securities 809,517 582,327
 Trading securities 4,484 1,074
 Loans:
 Commercial 709,408 623,522
 Commercial real estate 232,379 221,006
 Consumer 344,672 271,660
 All other 11,373 6,448
 Gross loans 1,297,832 1,122,636
 Reserve for loan losses (33,222) (36,004)
 Total loans 1,264,610 1,086,632
 Federal funds sold 135,142 58,937
 Total interest-earning
 assets 2,213,753 1,728,970
 Cash and due from banks 180,086 177,370
 Premises and equipment, net 27,398 21,393
 Other real estate owned, net 7,624 9,894
 Other assets 77,500 60,486
 Total Assets $ 2,506,361 $ 1,988,113
 Deposits:
 Demand $ 456,984 $ 410,728
 Transaction 261,062 180,835
 Money market 399,422 335,541
 Time: CDs 828,057 573,627
 Time: Other 226,743 188,675
 Total Deposits 2,172,268 1,689,406
 Federal funds purchased and
 other borrowings 148,159 165,783
 Other liabilities 32,545 32,067
 Capital note 23,000 ---
 Equity 142,873 110,857
 Total Liabilities and
 Equity $ 2,506,361 $ 1,988,113
 -0- 4/27/93
 /CONTACT: James A. White, EVP and chief financial officer, 918-588-6416, or home, 918-747-7865; or Kimberly Marsh MacLeod, media relations, 918-588-6035, or home, 918-446-5954, both of BOk/
 (BOKF)


CO: BOk Financial Corp.; Bank of Oklahoma, N.A. ST: Oklahoma IN: FIN SU: ERN

TM -- SF013 -- 1486 04/27/93 14:53 EDT
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