Performance Summary BOK Financial reported net income of $176.5 million, or $2.92 per diluted share, for the second quarter of 2026 compared to $155.8 million, or $2.58 per diluted share, for the first quarter of 2026. Excluding the net gain related to the exchange of our Visa shares and the loss from repositioning of the available-for-sale securities portfolio1, net income would have been $156.5 million, or $2.59 per diluted share, in the second quarter of 2026. PPNR1, a non-GAAP measure, was $227.7 million for the second quarter of 2026, compared to $199.7 million in the first quarter of 2026. Highlights of the second quarter of 2026 compared to the first quarter of 2026 included: •Net interest income totaled $351.8 million, an increase of $9.3 million over the prior quarter. Net interest margin was 2.91% for the second quarter of 2026, compared to 2.90% for the prior quarter. For the second quarter of 2026, our core net interest margin excluding trading activities1, a non-GAAP measure, was 3.13% compared to 3.15% in the prior quarter. •Fees and commissions revenue totaled $202.0 million, a decrease of $7.8 million. Lower trading fees and commissions revenue was partially offset by growth in fiduciary and asset management revenue and increased investment banking revenue. •Other gains (losses), net, were a net gain of $42.4 million compared to a net loss of $216 thousand in the prior quarter. The second quarter of 2026 included a $30.9 million pre-tax gain, net of economic hedge, related to the exchange of our Visa shares under the recently announced Exchange Offer by Visa, Inc. The current quarter also included a net gain on investments related to deferred compensation of $8.8 million compared to a net loss of $1.8 million in the prior quarter. •Losses on available-for-sale securities, net, were $4.6 million in the second quarter of 2026 as we repositioned the portfolio by selling approximately $268 million of lower-yielding debt securities. •Other operating expense totaled $361.7 million, an increase of $7.5 million compared to the prior quarter. Personnel expense increased $2.9 million and non-personnel expense increased $4.6 million. Excluding the impact of deferred compensation, personnel expense decreased $6.0 million. •Period end outstanding loan balances totaled $27.1 billion at June 30, 2026, up $896 million over March 31, 2026, with broad-based growth across the loan portfolio. Average loan balances increased $844 million to $26.8 billion. •No provision for expected credit losses was necessary for the second quarter of 2026. An improvement in economic forecast assumptions, including GDP growth, lower unemployment, and improved vacancy rates compared to the prior quarter, was offset by the impact of loan growth during the quarter. Net charge-offs in the second quarter were $500 thousand, or 0.01% of average loans on an annualized basis. The resulting combined allowance for credit losses totaled $323 million, or 1.19% of outstanding loans at June 30, 2026. The combined allowance for credit losses was $323 million, or 1.23% of outstanding loans at March 31, 2026. •Nonperforming assets not guaranteed by U.S. government agencies were $55 million, a $2.8 million increase compared to March 31, 2026. Accruing substandard loans decreased by $19 million while other loans especially mentioned decreased by $8.3 million compared to March 31, 2026. •Period end deposits increased by $1.2 billion to $39.9 billion at June 30, 2026. Average deposits increased $250 million, including a $261 million increase in average interest-bearing deposits and an $11 million decrease in average demand deposit balances. The loan to deposit ratio was 68% at June 30, 2026, consistent with the prior quarter. •Assets under management or administration totaled $129.3 billion at June 30, 2026, increasing $5.7 billion over March 31, 2026, led by increased market valuations and continued customer expansion. •The Company's tangible common equity ratio1, a non-GAAP measure, was 9.61% at June 30, 2026, and 9.29% at March 31, 2026. The tangible common equity ratio is primarily based on total shareholders' equity, which includes unrealized gains and losses on AFS securities. 1 See "Explanation and Reconciliation of Non-GAAP Measures" section following. - 2 - •The common equity Tier 1 capital ratio at June 30, 2026, was 12.89%. Other regulatory capital ratios include the Tier 1 capital ratio at 12.89%, total capital ratio at 14.67%, and leverage ratio at 9.81%. At March 31, 2026, the common equity Tier 1 capital ratio was 12.61%, the Tier 1 capital ratio was 12.61%, the total capital ratio was 14.39%, and the leverage ratio was 9.85%. •The Company paid a regular cash dividend of $38.1 million, or $0.63 per common share, during the second quarter of 2026. On August 4, 2026, the Board approved a quarterly cash dividend of $0.63 per common share payable on or about September 2, 2026, to shareholders of record as of August 19, 2026. Highlights of the six months ended June 30, 2026, compared to the six months ended June 30, 2025 included: •Net income for the six months ended June 30, 2026 totaled $332.3 million, or $5.49 per diluted share, compared to $259.8 million, or $4.05 per diluted share, for the six months ended June 30, 2025. •Net interest income totaled $694.4 million for the six months ended June 30, 2026, and $644.4 million for the six months ended June 30, 2025. Net interest income increased $31.4 million from changes in interest rates and increased $18.7 million from changes in earning assets. Net interest margin was 2.91% compared to 2.79%. The AFS securities portfolio yield increased 10 basis points, while the yield on trading securities decreased 31 basis points. The loan portfolio yield decreased 49 basis points. Funding costs decreased 49 basis points. The cost of interest-bearing deposits was down 51 basis points. Average earning assets increased $2.0 billion to $48.3 billion, largely driven by higher average balances for loans and AFS securities, partially offset by a decrease in average trading securities. Total interest-bearing deposits increased $1.2 billion, partially offset by a decrease of $369 million in demand deposit balances. Other borrowed funds increased $676 million and average subordinated debentures increased $281 million. •Fees and commissions revenue totaled $411.8 million for the six months ended June 30, 2026, a $30.3 million increase over the six months ended June 30, 2025. Fiduciary and asset management revenue increased $12.6 million led by growth in trust fees related to higher market valuations and continued growth in client relationships. Brokerage and trading revenue increased $6.9 million. Trading revenue increased $3.4 million led by higher municipal bond and government agency trading activities, partially offset by decreased U.S. agency residential mortgage-backed securities trading volumes. Investment banking revenue increased $2.8 million driven by growth in syndication fees. Transaction card revenue increased $6.9 million due to disciplined pricing strategies, targeted customer acquisition efforts, and an increase in the volume of transactions processed during the period. Deposit service charges increased $4.0 million, primarily due to growth in commercial service charges. •Other gains (losses), net, increased $34.8 million as the six months ended June 30, 2026 included a $30.9 million pre-tax gain, net of economic hedge, related to the exchange of our Visa shares under the recently announced Exchange Offer by Visa, Inc. •Total operating expense was $715.8 million for the six months ended June 30, 2026, an increase of $13.8 million over the six months ended June 30, 2025. Personnel expense decreased $3.6 million. Employee benefits expense decreased $9.4 million due to a combination of lower retirement plan costs and employee healthcare costs. Deferred compensation expense increased $6.7 million, while share-based compensation costs decreased $2.0 million due to changes in assumptions of certain performance-based equity awards. Non-personnel expense increased $17.4 million. Mortgage banking costs grew $9.2 million due to increased prepayments. Data processing and communications expense was up $6.3 million, largely driven by costs associated with ongoing projects. - 3 - Results of Operations Net Interest Income and Net Interest Margin Net interest income is the interest earned on debt securities, loans, and other interest-earning assets less interest paid for interest-bearing deposits and other borrowings. The net interest margin is calculated by dividing tax-equivalent net interest income by average interest-earning assets. Net interest spread is the difference between the average rate earned on interest-earning assets and the average rate paid on interest-bearing liabilities. Net interest margin is typically greater than net interest spread due to interest revenue earned on assets funded by noninterest-bearing liabilities such as demand deposits and equity. Tax-equivalent net interest income totaled $354.5 million for the second quarter of 2026, compared to $345.2 million in the prior quarter. Net interest income increased $5.7 million from changes in interest rates and increased $3.7 million from changes in earning assets. Table 1 shows the effect on net interest income from changes in average balances and interest rates for various types of earning assets and interest-bearing liabilities. Average earning assets increased $1.0 billion over the first quarter of 2026. Average loan balances increased $844 million, with broad-based growth across the loan portfolio. The average balance of trading securities increased $259 million and average restricted equity securities increased $100 million. Total average deposits increased $250 million compared to the first quarter of 2026, including a $261 million increase in interest-bearing deposits and an $11 million decrease in demand deposits. Average funds purchased and repurchase agreements decreased $403 million, while average other borrowings increased $1.6 billion. Net interest margin was 2.91% compared to 2.90% in the first quarter of 2026. For the second quarter of 2026, our core net interest margin excluding trading activities1, a non-GAAP measure, was 3.13% compared to 3.15% in the prior quarter. Net interest margin benefited from favorable repricing of fixed-rate assets and deposits. During the quarter, these positive drivers were partially offset by a 3 basis point impact from cash margin posted on behalf of our energy customers as oil prices increased during the quarter. The tax-equivalent yield on average earning assets was 5.27%, an increase of 4 basis points. The yield on trading securities increased 21 basis points to 4.85%, while the yield on restricted equity securities increased 27 basis points to 7.66%. The yield on available-for-sale securities increased 5 basis points to 3.98%, while the loan portfolio yield decreased 5 basis points to 6.20%. Funding costs were 2.93%, a 1 basis point increase over the prior quarter. The cost of interest-bearing deposits decreased 4 basis points to 2.67%. The cost of funds purchased and repurchase agreements increased 19 basis points to 3.09%, while the cost of other borrowings decreased 2 basis points to 3.88%. The benefit to net interest margin from assets funded by noninterest-bearing liabilities was 57 basis points, a decrease of 2 basis points. Our overall objective is to manage the Company's balance sheet for changes in interest rates as described in the Market Risk section of this report. At June 30, 2026, approximately 84% of our commercial and commercial real estate loan portfolios are either variable rate loans or fixed rate loans that will reprice within one year. These loans are funded primarily by deposit accounts that are either noninterest-bearing or that reprice more slowly than the loans. The result is a balance sheet that is asset sensitive, meaning that assets generally reprice more quickly than the liabilities. One of the strategies that we use to manage toward a relative rate-neutral position is to purchase fixed-rate residential mortgage-backed securities issued primarily by U.S. government agencies and fund them with market rate-sensitive liabilities. The liability-sensitive nature of this strategy provides an offset to the asset-sensitive characteristics of our loan portfolio. We also may use derivative instruments to manage our interest rate risk. The effectiveness of these strategies is reflected in the overall change in net interest income due to changes in interest rates as shown in Table 1 and in the interest rate sensitivity projections as shown in the Market Risk section of this report. 1 See "Explanation and Reconciliation of Non-GAAP Measures" section following. - 4 - Table 1 – Volume/Rate Analysis (In thousands) Three Months EndedJune 30, 2026 / Mar. 31, 2026 Six Months Ended June 30, 2026 / 2025 Change Due To1 Change Due To1 Change Volume Yield/Rate Change Volume Yield/Rate Tax-equivalent interest revenue: Interest-bearing cash and cash equivalents $ (122) $ (219) $ 97 $ (1,711) $ 580 $ (2,291) Trading securities 6,002 3,029 2,973 (25,181) (15,811) (9,370) Investment securities, net of allowance (379) (263) (116) (1,851) (1,671) (180) Available-for-sale securities 1,713 (217) 1,930 10,706 3,898 6,808 Fair value option securities (540) (463) (77) 741 1,032 (291) Restricted equity securities 2,157 1,880 277 1,433 1,604 (171) Residential mortgage loans held for sale 396 225 171 187 278 (91) Loans 14,091 15,238 (1,147) 9,951 71,338 (61,387) Total tax-equivalent interest revenue 23,318 19,210 4,108 (5,725) 61,248 (66,973) Interest expense: Transaction deposits 658 1,725 (1,067) (56,475) 13,568 (70,043) Savings deposits 44 39 5 45 100 (55) Time deposits 209 1,173 (964) (3,778) 5,070 (8,848) Funds purchased and repurchase agreements (2,584) (2,969) 385 (3,232) (2,124) (1,108) Other borrowings 15,500 15,533 (33) (1,081) 17,045 (18,126) Subordinated debentures 106 (1) 107 8,616 8,847 (231) Total interest expense 13,933 15,500 (1,567) (55,905) 42,506 (98,411) Tax-equivalent net interest income 9,385 3,710 5,675 50,180 18,742 31,438 Change in tax-equivalent adjustment 109 213 Net interest income $ 9,276 $ 49,967 1 Changes attributable to both volume and yield/rate are allocated to both volume and yield/rate on an equal basis. - 5 - Other Operating Revenue Other operating revenue was $237.6 million for the second quarter of 2026, an increase of $26.3 million compared to the first quarter of 2026. The second quarter of 2026 included a $30.9 million pre-tax gain, net of economic hedge, related to the conversion of our Visa B shares under the recently announced Exchange Offer by Visa, Inc. Of this gain, $10.2 million was realized through the sale of Visa A shares received in the Exchange Offer. The remaining gain represents the net unrealized gain on the remaining Visa C shares which are convertible into Visa A shares subject to limited transfer restrictions that end on August 9, 2026. We also recognized a $4.6 million loss related to the repositioning of the available-for-sale securities portfolio during the second quarter of 2026. Table 2 – Other Operating Revenue (Dollars in thousands) Three Months Ended Increase (Decrease) % Increase (Decrease) Six Months Ended Increase (Decrease) % Increase (Decrease) June 30, 2026 Mar. 31, 2026 June 30, 2026 June 30, 2025 Brokerage and trading revenue $ 32,450 $ 43,606 $ (11,156) (26) % $ 76,056 $ 69,193 $ 6,863 10 % Transaction card revenue 31,597 31,965 (368) (1) % 63,562 56,653 6,909 12 % Fiduciary and asset management revenue 71,007 66,481 4,526 7 % 137,488 124,936 12,552 10 % Deposit service charges and fees 33,326 32,218 1,108 3 % 65,544 61,594 3,950 6 % Mortgage banking revenue 18,985 20,963 (1,978) (9) % 39,948 38,808 1,140 3 % Other revenue 14,627 14,544 83 1 % 29,171 30,262 (1,091) (4) % Total fees and commissions 201,992 209,777 (7,785) (4) % 411,769 381,446 30,323 8 % Other gains (losses), net 42,415 (216) 42,631 N/A 42,199 7,415 34,784 N/A Gain (loss) on derivatives, net (8,490) (4,374) (4,116) N/A (12,864) 15,100 (27,964) N/A Gain (loss) on fair value option securities, net — (2,074) 2,074 N/A (2,074) 1,437 (3,511) N/A Change in fair value of mortgage servicing rights 6,300 8,155 (1,855) N/A 14,455 (12,259) 26,714 N/A Loss on available-for-sale securities, net (4,645) — (4,645) N/A (4,645) — (4,645) N/A Total other operating revenue $ 237,572 $ 211,268 $ 26,304 12 % $ 448,840 $ 393,139 $ 55,701 14 % Percentage increases (decreases) in non-fees and commissions revenue are not meaningful for comparison purposes based on the nature of the item. Fees and Commissions Revenue Diversified sources of fees and commissions revenue are a significant part of our business strategy and represented 36% of combined net interest income before provision for expected credit losses and fees and commissions revenue for the second quarter of 2026. We believe that a variety of fee revenue sources provides diversification to changes resulting from market or economic conditions such as interest rates, values in the equity markets, commodity prices, and consumer spending, all of which can be volatile. Many of the economic factors, such as decreasing interest rates, that we expect will result in a decline in net interest income or fiduciary and asset management revenue may also increase mortgage banking production volumes and related trading. The velocity of changes in market conditions and interest rates may result in timing differences between when offsetting impacts and benefits are realized. Generally, for operating revenues not as directly related to movement in interest rates, we expect growth to come through offering new products and services and by further development of our presence in other markets. However, current and future economic conditions, regulatory constraints, increased competition, and saturation in our existing markets could affect the rate of future increases. - 6 - Brokerage and Trading Revenue Brokerage and trading revenue, which includes revenues from trading, customer hedging, retail brokerage, and investment banking, decreased $11.2 million compared to the first quarter of 2026. Trading revenue includes net realized and unrealized gains and losses primarily related to residential mortgage-backed securities guaranteed by U.S. government agencies and related derivative instruments that enable our mortgage banking customers to manage their production risk. Trading revenue also includes net realized and unrealized gains and losses on municipal securities and other financial instruments that we sell to institutional customers, along with changes in the fair value of financial instruments we hold as economic hedges against market risk of our trading securities. Trading revenue decreased $12.7 million to $6.7 million, primarily due to lower trading volumes resulting from interest rate market volatility during the quarter. Interest rate levels and curve steepness can result in a shift between trading revenue and net interest income from trading securities. See further discussion on a total revenue basis in the Wealth Management discussion in Management's Discussion and Analysis - Reportable Segments following. Customer hedging revenue is based primarily on realized and unrealized changes in the fair value of derivative contracts held for customer risk management programs. As more fully discussed under Customer Risk Management Programs in Note 3 of the Consolidated Financial Statements, we offer commodity, interest rate, foreign exchange, and equity derivatives to our customers. Customer hedging revenue totaled $6.7 million for the second quarter of 2026, a decrease of $1.1 million compared to the prior quarter, primarily due to a decline in hedging activity from our energy customers. Customer hedging revenue includes credit valuation adjustments of the fair value of derivatives to reflect the risk of counterparty default. Investment banking revenue, which includes fees earned upon completion of underwriting, financial advisory services, and loan syndication fees, totaled $13.4 million, an increase of $3.2 million compared to the prior quarter, largely related to the timing and volume of completed loan syndication transactions. Transaction Card Revenue Transaction card revenue includes revenues from processing transactions on behalf of members of our TransFund electronic fund transfer network, merchant services fees paid by customers for account management and electronic processing of card transactions, and interchange fees from our corporate card program. Transaction card revenue totaled $31.6 million for the second quarter of 2026, consistent with the prior quarter. Fiduciary and Asset Management Revenue Fiduciary and asset management revenue is earned through managing or holding of assets for customers and executing transactions or providing related services. Fiduciary and asset management revenue is largely based on the fair value of assets. Rates applied to asset values vary based on the nature of the relationship. Fiduciary relationships and managed asset relationships generally have higher fee rates than non-fiduciary and/or non-managed relationships. Fiduciary and asset management revenue was $71.0 million for the second quarter of 2026, an increase of $4.5 million, primarily related to seasonal tax preparation fee income combined with increased trust fees from higher market valuations and growth in client relationships. - 7 - A distribution of assets under management or administration and related fiduciary and asset management revenue follows: Table 3 – Assets Under Management or Administration (Dollars in thousands) Three Months Ended June 30, 2026 March 31, 2026 Balance1 Revenue2 Margin3 Balance1 Revenue2 Margin3 Managed fiduciary assets: Personal $ 14,405,931 $ 32,907 0.91 % $ 13,582,541 $ 30,340 0.89 % Institutional 27,518,003 14,255 0.21 % 25,905,901 13,628 0.21 % Total managed fiduciary assets 41,923,934 47,162 0.45 % 39,488,442 43,968 0.45 % Non-managed assets: Fiduciary 37,020,210 20,837 0.23 % 34,861,659 19,771 0.23 % Non-fiduciary 22,751,138 3,008 0.05 % 21,827,721 2,742 0.05 % Safekeeping and brokerage assets under administration 27,576,116 — — % 27,408,893 — — % Total non-managed assets 87,347,464 23,845 0.11 % 84,098,273 22,513 0.11 % Total assets under management or administration $ 129,271,398 $ 71,007 0.22 % $ 123,586,715 $ 66,481 0.22 % Six Months Ended June 30, 2026 June 30, 2025 Balance1 Revenue2 Margin3 Balance1 Revenue2 Margin3 Managed fiduciary assets: Personal $ 14,405,931 $ 63,247 0.88 % $ 12,870,191 $ 57,981 0.90 % Institutional 27,518,003 27,883 0.20 % 25,129,138 25,492 0.20 % Total managed fiduciary assets 41,923,934 91,130 0.43 % 37,999,329 83,473 0.44 % Non-managed assets: Fiduciary 37,020,210 40,608 0.22 % 33,057,806 36,248 0.22 % Non-fiduciary 22,751,138 5,750 0.05 % 20,758,866 5,215 0.05 % Safekeeping and brokerage assets under administration 27,576,116 — — % 26,054,969 — — % Total non-managed assets 87,347,464 46,358 0.11 % 79,871,641 41,463 0.10 % Total assets under management or administration $ 129,271,398 $ 137,488 0.21 % $ 117,870,970 $ 124,936 0.21 % 1 Assets under management or administration balance excludes certain assets under custody held by a sub-custodian where minimal revenue is recognized. $24 billion, $22 billion, and $22 billion of such assets are excluded from assets under management or administration at June 30, 2026, March 31, 2026, and June 30, 2025, respectively. 2 Fiduciary and asset management revenue includes asset-based and other fees associated with the assets. 3 Annualized revenue divided by period end asset balance. A summary of changes in assets under management or administration for the three and six months ended June 30, 2026, and 2025 follows: Table 4 – Changes in Assets Under Management or Administration (In thousands) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Beginning balance $ 123,586,715 $ 113,956,563 $ 126,614,658 $ 114,615,237 Net inflows (outflows) (540,191) 935,068 (1,783,630) 1,426,858 Net change in fair value 6,224,874 2,979,339 4,440,370 1,828,875 Ending balance $ 129,271,398 $ 117,870,970 $ 129,271,398 $ 117,870,970 - 8 - Assets under management or administration as of June 30, 2026, consist of 41% fixed income, 37% equities, 14% cash, and 8% alternative investments. Deposit Service Charges Deposit service charges and fees increased $1.1 million, to $33.3 million for the second quarter of 2026, largely due to an increase in the volume of transactions during the quarter. Mortgage Banking Revenue Mortgage banking revenue decreased $2.0 million compared to the first quarter of 2026, primarily due to lower refinancing activity. Mortgage production volume decreased $2.8 million to $263 million. Production revenue as a percentage of production volume, which includes unrealized gains and losses on our mortgage commitment pipeline and related hedges, was 0.83% for the second quarter of 2026, compared to 1.48% for the first quarter of 2026. Table 5 – Mortgage Banking Revenue (Dollars in thousands) Three Months Ended Increase (Decrease) % Increase (Decrease) Six Months Ended Increase (Decrease) % Increase (Decrease) June 30, 2026 Mar. 31, 2026 June 30, 2026 June 30, 2025 Mortgage production revenue $ 2,174 $ 3,926 $ (1,752) (45) % $ 6,100 $ 4,336 $ 1,764 41 % Mortgage loans funded for sale $ 280,838 $ 230,858 $ 511,696 $ 378,970 Add: Current period end outstanding commitments 65,547 83,674 65,547 64,508 Less: Prior period end outstanding commitments 83,674 49,048 49,048 36,590 Total mortgage production volume $ 262,711 $ 265,484 $ (2,773) (1) % $ 528,195 $ 406,888 $ 121,307 30 % Mortgage loan refinances to mortgage loans funded for sale 20 % 30 % (1,000) bps 25 % 15 % 1,000 bps Realized margin on funded mortgage loans 1.01 % 1.22 % (21) bps 1.10 % 0.77 % 33 bps Production revenue as a percentage of production volume 0.83 % 1.48 % (65) bps 1.15 % 1.07 % 8 bps Primary mortgage interest rates1: Average 6.41 % 6.11 % 30 bps 6.26 % 6.81 % (55) bp Period end 6.49 % 6.38 % 11 bps 6.49 % 6.77 % (28) bps Mortgage servicing revenue $ 16,811 $ 17,037 $ (226) (1) % $ 33,848 $ 34,472 $ (624) (2) % Average outstanding principal balance of mortgage loans serviced for others $ 21,718,909 $ 22,109,450 $ (390,541) (2) % $ 21,914,179 $ 22,888,491 $ (974,312) (4) % Average mortgage servicing revenue fee rates 0.31 % 0.31 % — bp 0.31 % 0.30 % 1 bp 1 Primary rates disclosed in Table 5 above represent rates generally available to borrowers on 30 year conforming mortgage loans. - 9 - Net Gains and Losses on Other Assets, Securities, and Derivatives Other gains (losses), net, were a net gain of $42.4 million for the second quarter of 2026, compared to a net loss of $216 thousand in the prior quarter. The second quarter of 2026 included a $30.9 million pre-tax gain, net of economic hedge, related to the exchange of our Visa shares under the recently announced Exchange Offer by Visa, Inc. See further discussion in the Securities section of Management's Discussion and Analysis of Financial Condition and Results of Operations. The current quarter also included a net gain on investments related to deferred compensation of $8.8 million compared to a net loss of $1.8 million in the prior quarter. Losses on available-for-sale securities, net, were $4.6 million in the second quarter of 2026 as we repositioned the portfolio by selling approximately $268 million of lower-yielding debt securities. As discussed in the Market Risk section following, the fair value of our MSRs changes in response to changes in primary mortgage loan rates and other assumptions. We attempt to mitigate the earnings volatility caused by changes in the fair value of MSRs by designating certain financial instruments as an economic hedge. Changes in the fair value of these instruments are generally expected to partially offset changes in the fair value of MSRs. Table 6 – Gain (Loss) on Mortgage Servicing Rights, Net of Economic Hedge (In thousands) Three Months Ended Six Months Ended June 30, 2026 Mar. 31, 2026 June 30, 2026 June 30, 2025 Gain (loss) on derivatives, net $ (7,324) $ (4,211) $ (11,535) $ 14,413 Gain (loss) on fair value option securities, net — (2,074) (2,074) 1,437 Gain (loss) on economic hedge of mortgage servicing rights, net (7,324) (6,285) (13,609) 15,850 Change in fair value of mortgage servicing rights 6,300 8,155 14,455 (12,259) Gain (loss) on changes in fair value of mortgage servicing rights, net of economic hedges included in other operating revenue (1,024) 1,870 846 3,591 Net interest income (expense) on fair value option securities1 110 86 196 158 Total economic benefit (cost) of changes in the fair value of mortgage servicing rights, net of economic hedges $ (914) $ 1,956 $ 1,042 $ 3,749 1 Actual interest earned on fair value option securities less internal transfer-priced cost of funds. - 10 - Other Operating Expense Other operating expense for the second quarter of 2026 totaled $361.7 million, an increase of $7.5 million compared to the first quarter of 2026. The second quarter included $9.1 million of deferred compensation expense fully offset by gains on related investments in Other gains (losses), net. Excluding the impact of deferred compensation, total operating expense decreased $1.4 million. Our efficiency ratio1 was 60.21% for the second quarter of 2026, compared to 63.21% in the prior quarter. Our efficiency ratio as adjusted for the gain related to the exchange of Visa shares1 was 63.49% for the second quarter of 2026. Table 7 – Other Operating Expense (Dollars in thousands) Three Months Ended Increase (Decrease) % Increase (Decrease) Six Months Ended Increase (Decrease) % Increase (Decrease) June 30, 2026 Mar. 31, 2026 June 30, 2026 June 30, 2025 Regular compensation $ 121,299 $ 122,193 $ (894) (1) % $ 243,492 $ 241,844 $ 1,648 1 % Incentive compensation: Cash-based 49,683 52,694 (3,011) (6) % 102,377 102,924 (547) (1) % Share-based 5,020 5,286 (266) (5) % 10,306 12,346 (2,040) (17) % Deferred compensation 9,092 182 8,910 N/A 9,274 2,535 6,739 N/A Total incentive compensation 63,795 58,162 5,633 10 % 121,957 117,805 4,152 4 % Employee benefits 29,000 30,819 (1,819) (6) % 59,819 69,247 (9,428) (14) % Total personnel expense 214,094 211,174 2,920 1 % 425,268 428,896 (3,628) (1) % Business promotion 11,152 9,226 1,926 21 % 20,378 17,957 2,421 13 % Professional fees and services 13,799 14,295 (496) (3) % 28,094 28,671 (577) (2) % Net occupancy and equipment 34,151 33,182 969 3 % 67,333 65,649 1,684 3 % FDIC and other insurance 6,183 5,685 498 9 % 11,868 13,026 (1,158) (9) % Data processing and communications 51,707 51,768 (61) — % 103,475 97,175 6,300 6 % Printing, postage, and supplies 3,745 3,679 66 2 % 7,424 7,706 (282) (4) % Amortization of intangible assets 2,390 2,443 (53) (2) % 4,833 5,308 (475) (9) % Mortgage banking costs 11,879 11,757 122 1 % 23,636 14,400 9,236 64 % Other expense 12,579 10,957 1,622 15 % 23,536 23,244 292 1 % Total other operating expense $ 361,679 $ 354,166 $ 7,513 2 % $ 715,845 $ 702,032 $ 13,813 2 % Average number of employees (FTE) 4,971 4,969 2 — % 4,970 5,037 (67) (1) % Certain percentage increases (decreases) are not meaningful for comparison purposes. Personnel Expense Personnel expense was $214.1 million, an increase of $2.9 million. Excluding the impact of deferred compensation, personnel costs were down $6.0 million. Cash-based incentive compensation decreased $3.0 million, primarily driven by a decrease in trading activity during the quarter. Employee benefits expense decreased $1.8 million, largely due to a seasonal decrease in payroll taxes, partially offset by higher employee healthcare costs. Non-personnel Operating Expense Non-personnel expense was $147.6 million, an increase of $4.6 million. Business promotion expense increased $1.9 million due to higher seasonal travel costs. Other expense was up $1.6 million, primarily related to an increase in operational losses. 1 See "Explanation and Reconciliation of Non-GAAP Measures" section following. - 11 - Income Taxes The effective tax rate was 22.46% for the second quarter of 2026, 22.01% for the first quarter of 2026, and 22.51% for the second quarter of 2025. The effective rate for the second quarter of 2026 increased compared to the first quarter of 2026 primarily due to the decrease in excess tax benefits from vested share-based compensation. Reportable Segments We operate three principal segments: Commercial Banking, Consumer Banking, and Wealth Management. Commercial Banking includes lending, treasury and cash management services, and customer risk management products for small businesses, middle market, and larger commercial customers. Commercial Banking also includes the TransFund EFT network. Consumer Banking includes retail lending and deposit services, lending and deposit services to small business customers served through our consumer branch network, and all mortgage loan origination and servicing activities. Wealth Management engages in brokerage and trading activities mainly related to providing liquidity to the mortgage markets through trading of U.S. government agency mortgage-backed securities and related derivative contracts. Wealth Management also provides fiduciary services, private banking services, and investment advisory services in all markets. Additionally, Wealth Management underwrites state and municipal securities. In addition to our reportable segments, we have a Funds Management unit. The primary purpose of this unit is to manage our overall liquidity needs and interest rate risk. Each segment borrows funds from and provides funds to the Funds Management unit as needed to support their operations. Operating results for Funds Management include the effect of interest rate risk positions and risk management activities, securities gains and losses including impairment charges, the provision for credit losses in excess of net loans charged off, tax planning strategies, and certain executive compensation costs that are not attributed to the segments. The Funds Management unit also initially recognizes accruals for loss contingencies when losses become probable. Actual losses are recognized by the applicable segment if the accruals are settled. We allocate resources and evaluate the performance of our reportable segments using net income before taxes, which includes the allocation of cost of funds, capital costs, and certain indirect allocations. Credit costs are attributed to the segments based on net loans charged off or recovered. The difference between credit costs attributed to the segments and the consolidated provision for credit losses is attributed to Funds Management. Net interest income in our segments reflects our internal funds transfer pricing methodology. The funds transfer pricing methodology is the process by which the Company allocates interest income and expense to the segments and transfers the primary interest rate risk and liquidity risk to the Funds Management unit. The funds transfer pricing methodology considers the interest rate and liquidity risk characteristics of assets and liabilities. Periodically, the methodology and assumptions utilized in transfer pricing are adjusted to reflect economic conditions and other factors, which may impact the allocation of net interest income to the segments. Non-personnel expense includes other segment items comprised of business promotion, charitable contributions to BOKF Foundation, professional fees and services, net occupancy and equipment, FDIC and other insurance, data processing and communications, printing, postage, and supplies, amortization of intangible assets, mortgage banking costs, and other miscellaneous expenses. Corporate allocations include centrally managed operational and administrative expenses that are allocated to segments. Economic capital is assigned to the segments by a capital allocation model that reflects management's assessment of risk. This model assigns capital based upon credit, operating, interest rate, and other market risk inherent in our segments and recognizes the diversification benefits among the segments. The level of assigned economic capital is a combination of the risk taken by each segment based on its actual exposures and calibrated to its own loss history where possible. Average invested capital includes economic capital and amounts we have invested in the segment. - 12 - As shown in Table 8, net income before taxes attributable to our segments was $194.7 million in the second quarter of 2026 compared to $191.5 million in the first quarter of 2026. Net interest income increased $9.8 million due to increased loan volumes and beneficial repricing of deposits. Other operating revenue decreased $9.7 million. Brokerage and trading revenue was down $12.7 million, primarily due to lower trading volumes resulting from interest rate market volatility during the quarter. This decrease was partially offset by growth in fiduciary and asset management revenue related to seasonal tax preparation fee income combined with increased trust fees from higher market valuations and growth in client relationships. Other operating expense decreased $4.2 million. Personnel expense decreased $5.1 million, primarily due to lower cash-based incentive compensation costs driven by the decrease in trading activity. Non-personnel expense was consistent with the prior quarter. Corporate expense allocations increased $2.6 million. Table 8 – Net Income Before Taxes by Segment (Dollars in thousands) Three Months Ended Increase (Decrease) % Increase (Decrease) Six Months Ended Increase (Decrease) % Increase (Decrease) June 30, 2026 Mar. 31, 2026 June 30, 2026 June 30, 2025 Commercial Banking $ 146,160 $ 134,787 $ 11,373 8 % $ 280,947 $ 278,140 $ 2,807 1 % Consumer Banking 13,555 19,168 (5,613) (29) % 32,723 46,868 (14,145) (30) % Wealth Management 34,977 37,541 (2,564) (7) % 72,518 73,475 (957) (1) % Segment total 194,692 191,496 3,196 2 % 386,188 398,483 (12,295) (3) % Funds Management and Other 33,031 8,160 24,871 N/A 41,191 (62,959) 104,150 N/A BOK Financial Corporation $ 227,723 $ 199,656 $ 28,067 14 % $ 427,379 $ 335,524 $ 91,855 27 % Certain percentage increases (decreases) are not meaningful for comparison purposes. - 13 - Commercial Banking Commercial Banking contributed $146.2 million to consolidated net income before taxes in the second quarter of 2026, an increase of $11.4 million over the first quarter of 2026. Table 9 – Commercial Banking (Dollars in thousands) Three Months Ended Increase (Decrease) % Increase (Decrease) Six Months Ended Increase (Decrease) % Increase (Decrease) June 30, 2026 Mar. 31, 2026 June 30, 2026 June 30, 2025 Net interest income from external sources $ 249,695 $ 241,317 $ 8,378 3 % $ 491,012 $ 467,188 $ 23,824 5 % Net interest income (expense) from internal sources (70,703) (67,844) (2,859) (4) % (138,547) (113,104) (25,443) (22) % Net interest income 178,992 173,473 5,519 3 % 352,465 354,084 (1,619) — % Net loans charged off (145) 400 (545) (136) % 255 177 78 44 % Net interest income after net loans charged off 179,137 173,073 6,064 4 % 352,210 353,907 (1,697) — % Other operating revenue 65,700 60,068 5,632 9 % 125,768 119,953 5,815 5 % Personnel expense 50,042 51,267 (1,225) (2) % 101,309 99,909 1,400 1 % Non-personnel expense 32,049 31,041 1,008 3 % 63,090 59,161 3,929 7 % Total other operating expense 82,091 82,308 (217) — % 164,399 159,070 5,329 3 % Corporate allocations 16,586 16,046 540 3 % 32,632 36,650 (4,018) (11) % Net income before taxes $ 146,160 $ 134,787 $ 11,373 8 % $ 280,947 $ 278,140 $ 2,807 1 % Average assets $ 23,375,564 $ 22,679,465 $ 696,099 3 % $ 23,029,437 $ 21,359,263 $ 1,670,174 8 % Average loans 22,003,116 21,232,965 770,151 4 % 21,620,168 19,929,583 1,690,585 8 % Average deposits 18,918,188 18,306,337 611,851 3 % 18,613,952 17,595,944 1,018,008 6 % Average invested capital 2,252,949 2,235,635 17,314 1 % 2,243,845 2,151,522 92,323 4 % Net interest income increased $5.5 million, or 3%, primarily due to increased loan volumes and beneficial repricing of deposits. Other operating revenue increased $5.6 million over the prior quarter. Investment banking revenue increased $3.9 million, driven largely by higher loan syndication fees, partially offset by a $1.4 million decrease in customer hedging revenue. Other gains, net, were $4.3 million for the second quarter of 2026, compared to $1.2 million in the first quarter of 2026 from merchant banking activities. Other operating expense was relatively unchanged from the prior quarter. A $1.2 million decrease in personnel expense related to incentive compensation costs, was largely offset by smaller increases in non-personnel expense. Average outstanding loan balances attributed to Commercial Banking increased $770 million, or 4%, over the first quarter of 2026, to $22.0 billion. See the Loans section of Management's Discussion and Analysis of Financial Condition and Results of Operations following for additional discussion of changes in commercial and commercial real estate loans, which are primarily attributed to the Commercial Banking segment. Average deposits attributed to Commercial Banking increased $612 million, or 3%, compared to the first quarter of 2026, to $18.9 billion. See Management's Discussion and Analysis of Financial Condition and Results of Operations – Liquidity and Capital for further discussion of changes. - 14 - Consumer Banking Consumer Banking contributed $13.6 million to consolidated net income before taxes for the second quarter of 2026, compared to $19.2 million in the first quarter of 2026. Table 10 – Consumer Banking (Dollars in thousands) Three Months Ended Increase (Decrease) % Increase (Decrease) Six Months Ended Increase (Decrease) % Increase (Decrease) June 30, 2026 Mar. 31, 2026 June 30, 2026 June 30, 2025 Net interest income from external sources $ 18,073 $ 17,788 $ 285 2 % $ 35,861 $ 22,203 $ 13,658 62 % Net interest income (expense) from internal sources 39,839 38,201 1,638 4 % 78,040 93,163 (15,123) (16) % Net interest income 57,912 55,989 1,923 3 % 113,901 115,366 (1,465) (1) % Net loans charged off 1,118 1,508 (390) (26) % 2,626 2,535 91 4 % Net interest income after net loans charged off 56,794 54,481 2,313 4 % 111,275 112,831 (1,556) (1) % Other operating revenue 36,823 42,866 (6,043) (14) % 79,689 77,223 2,466 3 % Personnel expense 24,715 25,466 (751) (3) % 50,181 51,364 (1,183) (2) % Non-personnel expense 38,721 38,027 694 2 % 76,748 61,348 15,400 25 % Total other operating expense 63,436 63,493 (57) — % 126,929 112,712 14,217 13 % Corporate allocations 16,626 14,686 1,940 13 % 31,312 30,474 838 3 % Net income before taxes $ 13,555 $ 19,168 $ (5,613) (29) % $ 32,723 $ 46,868 $ (14,145) (30) % Average assets $ 8,648,052 $ 8,452,393 $ 195,659 2 % $ 8,550,763 $ 8,256,649 $ 294,114 4 % Average loans 2,633,853 2,584,226 49,627 2 % 2,609,176 2,256,018 353,158 16 % Average deposits 8,592,876 8,389,039 203,837 2 % 8,491,521 8,211,102 280,419 3 % Average invested capital 341,538 338,736 2,802 1 % 339,785 327,209 12,576 4 % Net interest income from Consumer Banking increased $1.9 million, or 3%, compared to the first quarter of 2026, primarily due to changes in deposit spreads. Other operating revenue decreased $6.0 million, or 14%. Mortgage banking revenue was down $2.0 million driven by mortgage production performance, and other revenue decreased $2.2 million due to lower card-network incentives. The net cost from the changes in the fair value of mortgage servicing rights and related economic hedges was $914 thousand, compared to a net benefit of $2.0 million for the first quarter of 2026. Other operating expenses were consistent with the prior quarter. Corporate expense allocations increased $1.9 million. Average loans increased $50 million, or 2%, over the prior quarter, to $2.6 billion. Average deposits attributed to the Consumer Banking increased $204 million, or 2%, to $8.6 billion. See Management's Discussion and Analysis of Financial Condition and Results of Operations – Liquidity and Capital for further discussion of the changes. - 15 - Wealth Management Wealth Management contributed $35.0 million to consolidated net income before taxes in the second quarter of 2026, compared to $37.5 million in the first quarter of 2026. Table 11 – Wealth Management (Dollars in thousands) Three Months Ended Increase (Decrease) % Increase (Decrease) Six Months Ended Increase (Decrease) % Increase (Decrease) June 30, 2026 Mar. 31, 2026 June 30, 2026 June 30, 2025 Net interest income from external sources $ 26,090 $ 19,867 $ 6,223 31 % $ 45,957 $ 39,596 $ 6,361 16 % Net interest income (expense) from internal sources 19,288 23,107 (3,819) (17) % 42,395 49,750 (7,355) (15) % Net interest income 45,378 42,974 2,404 6 % 88,352 89,346 (994) (1) % Net loans recovered (5) 496 (501) (101) % 491 (15) 506 3,373 % Net interest income after net loans recovered 45,383 42,478 2,905 7 % 87,861 89,361 (1,500) (2) % Other operating revenue 101,104 110,387 (9,283) (8) % 211,491 199,986 11,505 6 % Personnel expense 66,332 69,413 (3,081) (4) % 135,745 133,554 2,191 2 % Non-personnel expense 27,866 28,756 (890) (3) % 56,622 53,993 2,629 5 % Total other operating expense 94,198 98,169 (3,971) (4) % 192,367 187,547 4,820 3 % Corporate allocations 17,312 17,155 157 1 % 34,467 28,325 6,142 22 % Net income before taxes $ 34,977 $ 37,541 $ (2,564) (7) % $ 72,518 0 $ 73,475 $ (957) (1) % Average assets $ 11,219,080 $ 11,370,683 $ (151,603) (1) % $ 11,294,463 $ 11,469,873 $ (175,410) (2) % Average loans 2,479,191 2,430,864 48,327 2 % 2,455,161 2,231,731 223,430 10 % Average deposits 10,656,194 10,782,785 (126,591) (1) % 10,719,140 10,743,106 (23,966) — % Average invested capital 349,916 345,639 4,277 1 % 347,802 332,939 14,863 4 % Combined net interest income and fee revenue decreased $6.9 million, or 5%, compared to the first quarter of 2026. Trading fees and commissions revenue decreased $12.7 million largely due to reduced trading activity from interest rate market volatility during the quarter. Fiduciary and asset management revenue increased $4.5 million from seasonal tax preparation fee income combined with higher trust business line fees. Other operating expense decreased $4.0 million, primarily due to lower cash-based incentive compensation costs driven by the decrease in trading activity. Average outstanding loans attributed to the Wealth Management segment increased $48 million, or 2%, over the prior quarter, to $2.5 billion. Average Wealth Management deposits were consistent with the prior quarter. See Management's Discussion and Analysis of Financial Condition and Results of Operations – Liquidity and Capital for further discussion of the changes. - 16 - Financial Condition Securities We maintain a securities portfolio to enhance profitability, manage interest rate risk, provide liquidity, and comply with regulatory requirements. Securities are classified as trading, investment (held-to-maturity), or available-for-sale. See Note 2 to the Consolidated Financial Statements for the composition of the securities portfolio as of June 30, 2026 and December 31, 2025. We hold an inventory of trading securities in support of sales to a variety of customers, including banks, corporations, insurance companies, money managers, and others. At June 30, 2026, the trading securities portfolio totaled $5.0 billion, compared to $5.7 billion at March 31, 2026. As discussed in the Market Risk section of this report, trading activities involve risk of loss from adverse price movement. We mitigate this risk within board-approved value-at-risk limits through the use of derivative contracts, short sales, and other techniques. At June 30, 2026, the carrying value of investment securities was $1.6 billion, including a $77 thousand allowance for expected credit losses, compared to a carrying value of $1.7 billion at March 31, 2026, which included a $191 thousand allowance for expected credit losses. The fair value of investment securities was $1.5 billion at June 30, 2026, a $103 million decrease compared to the prior quarter. Investment securities consist primarily of residential mortgage-backed securities issued by U.S. government agencies, intermediate and long-term fixed-rate Oklahoma and Texas municipal bonds, and taxable Texas school construction bonds. AFS securities, which may be sold prior to maturity, are carried at fair value. Unrealized gains or losses, net of deferred taxes, are recorded as accumulated other comprehensive income in shareholders' equity. The amortized cost of AFS securities totaled $13.8 billion at June 30, 2026, an $83 million increase compared to March 31, 2026. At June 30, 2026, the AFS securities portfolio consisted primarily of U.S. government agency residential mortgage-backed securities and U.S. government agency commercial mortgage-backed securities. Both residential and commercial mortgage-backed securities have credit risk from delinquency or default of the underlying loans. We mitigate this risk by primarily investing in securities issued by U.S. government agencies. Principal and interest payments on the underlying loans are fully guaranteed. Commercial mortgage-backed securities have prepayment penalties similar to commercial loans. A primary risk of holding residential mortgage-backed securities comes from extension during periods of rising interest rates or contraction in the form of more rapid prepayments during periods of falling interest rates. We evaluate this risk through extensive modeling of risk both before making an investment and throughout the life of the security. Our best estimate of the duration of the combined residential mortgage-backed securities portfolio held in investment and AFS securities was 3.4 years as of June 30, 2026, consistent with the prior quarter. Management estimates the combined portfolio's duration extends to 4.1 years assuming an immediate 200 basis point upward shock. The estimated duration contracts to 2.1 years assuming a 200 basis point decline in the current rate environment. The duration of the total investment portfolio, including both the investment (held-to-maturity) and AFS portfolios, is 3.1 years, extending to 3.7 years in an upward shock of 200 basis points and contracting to 2.1 years in a down 200 basis point shock scenario. Management also regularly monitors the impact of interest rate risk on the AFS securities portfolio on our tangible equity ratio under various shock scenarios. Certain residential mortgage-backed securities and commercial mortgage-backed securities issued by U.S. government agencies and included in Fair value option securities on the Consolidated Balance Sheets have been segregated and designated as economic hedges of changes in the fair value of our MSR. We have elected to carry these securities at fair value with changes in fair value recognized in current period income. These securities are held with the intent that gains or losses will offset changes in the fair value of MSR and related derivative contracts. Fair value option securities totaled $28 million, a $150 million decrease compared to March 31, 2026. On April 13, 2026, Visa, Inc. initiated its first successive Exchange Offer (the “Exchange Offer”) for holders of Class B-1 or Class B-2 shares (collectively, “Class B shares”) to exchange Class B shares for a combination of Visa Class B-3 common shares and Visa Class C common shares and subsequently to freely transferable Visa Class A common stock subject to holding periods and certain other conditions contained in the Exchange Offer. The Exchange Offer opened on April 13, 2026 and expired on May 8, 2026. The Company tendered all of its 126,116 Class B-2 Visa shares under the Exchange Offer and received 63,058 newly issued Visa Class B-3 shares and 23,765 Visa Class C shares. Each Visa Class C share automatically converts into four Visa Class A shares upon any transfer to a person other than a Visa member or an affiliate of a Visa member. - 17 - Under the terms of the Exchange Offer, we were able to sell one-third of the Visa Class C shares in the market upon receipt. We sold 7,921 Visa Class C shares (the equivalent of 31,684 Visa Class A shares) in June 2026, receiving proceeds of $10.2 million from third parties. Our realized gain matched the proceeds since our cost basis in the shares was zero and is reported in Other gains, net in the Consolidated Statements of Earnings. The Company's remaining 15,844 Visa Class C shares (the equivalent of 63,376 Visa Class A shares) had a value of $21.7 million based on the closing price of the underlying Visa Class A shares as of June 30, 2026, and are reported in Other assets on the Consolidated Balance Sheets, resulting in an unrealized gain. The Visa Class C shares are subject to limited transfer restrictions that end on August 9, 2026. The Visa B-3 shares are subject to certain transfer restrictions and are convertible into Visa A shares at a specified conversion rate upon final resolution of certain litigation matters involving Visa. The conversion rate of Visa B-3 shares to Visa Class A shares was 1.4953 at June 30, 2026, and may be adjusted by Visa depending on developments related to the litigation matters. The outcome of those litigation matters, and the effect that the resolution of those matters may have on the conversion rate, is unknown. Accordingly, as of June 30, 2026, there is significant uncertainty regarding when the transfer restrictions on Visa B-3 shares may be terminated and what the final conversion rate for the Visa B-3 shares will be. The Visa B-3 shares continue to be carried at a cost of zero as there are no observable price changes in orderly transactions for identical or similar investments of the same issuer for the Visa B-3 shares held by the Company. - 18 - Loans The aggregate loan portfolio before allowance for loan losses totaled $27.1 billion at June 30, 2026, an increase of $896 million over March 31, 2026, with broad-based growth across the loan portfolio. Table 12 – Loans (In thousands) June 30, 2026 Mar. 31, 2026 Dec. 31, 2025 Sep. 30, 2025 June 30, 2025 Commercial: Services $ 4,099,879 $ 3,901,933 $ 3,911,917 $ 3,710,643 $ 3,658,807 Healthcare 4,083,814 3,955,763 4,008,208 3,878,543 3,808,936 Energy 3,052,662 3,005,693 2,882,242 2,681,512 2,734,713 Mortgage finance 451,826 228,242 177,765 84,271 — General business 4,609,267 4,481,452 4,300,935 4,157,971 4,181,726 Total commercial 16,297,448 15,573,083 15,281,067 14,512,940 14,384,182 Commercial real estate: Multifamily 2,570,246 2,553,709 2,432,330 2,500,323 2,473,365 Industrial 1,283,315 1,418,626 1,368,436 1,396,795 1,304,211 Office 852,721 821,569 814,139 811,601 690,086 Retail 670,893 613,976 573,451 593,835 592,043 Residential construction and land development 111,668 109,480 129,783 122,033 105,701 Other commercial real estate 396,487 367,319 353,867 328,020 356,035 Total commercial real estate 5,885,330 5,884,679 5,672,006 5,752,607 5,521,441 Loans to individuals: Residential mortgage 2,847,768 2,784,134 2,731,415 2,676,366 2,610,681 Residential mortgage guaranteed by U.S. government agencies 159,886 160,254 158,359 151,642 148,453 Personal 1,893,283 1,785,243 1,808,615 1,771,639 1,627,454 Total loans to individuals 4,900,937 4,729,631 4,698,389 4,599,647 4,386,588 Total $ 27,083,715 $ 26,187,393 $ 25,651,462 $ 24,865,194 $ 24,292,211 Commercial Commercial loans represent loans for working capital, facilities acquisition or expansion, purchases of equipment, and other needs of commercial customers primarily located within our geographical footprint. Commercial loans are underwritten individually and represent ongoing relationships based on a thorough knowledge of the customer, the customer's industry, and the market. Commercial loans are generally secured by the customer's assets, including real property, inventory, accounts receivable, operating equipment, interests in mineral rights, and other property and may also include personal guarantees of the owners and related parties. The primary source of repayment of commercial loans is the ongoing cash flow from operations of the customer's business. In addition, revolving lines of credit are generally governed by a borrowing base. Inherent lending risks are centrally monitored on a continuous basis from underwriting throughout the life of the loan for compliance with commercial lending policies. Commercial loans totaled $16.3 billion, or 60% of the loan portfolio, at June 30, 2026, a $724 million increase over March 31, 2026, with broad-based growth across the Commercial loan portfolio. Approximately 69% of loans in this portfolio segment are located within our geographic footprint based on collateral location. Loans for which the collateral location is less relevant, such as unsecured loans and reserve-based energy loans, are categorized by the borrower's primary operating location. The largest concentration of loans in this segment outside of our footprint is California, totaling 5% of the portfolio segment. - 19 - The services sector of the loan portfolio totaled $4.1 billion, or 15% of total loans, a $198 million increase over the prior quarter. Services sector loans consist of a large number of loans to a variety of businesses, including state and local municipal government entities, Native American tribal government and casino operations, foundations and not-for-profit organizations, educational services, and specialty trade contractors. Services sector loans are generally secured by the assets of the borrower with repayment coming from the cash flows of ongoing operations of the customer's business. Healthcare sector loans totaled $4.1 billion, or 15% of total loans, an increase of $128 million compared to March 31, 2026. Healthcare sector loans consist primarily of $3.2 billion of loans for the development and operation of senior housing and care facilities, including independent living, assisted living, and skilled nursing. Generally, we loan to borrowers with a portfolio of multiple facilities which serves to help diversify risks specific to a single facility. Supporting the energy industry with loans to producers and other energy-related entities has been a hallmark of the Company since its founding and represents a large portion of our commercial loan portfolio. In addition, energy production and related industries have a significant impact on the economy in our primary markets. Loans collateralized by oil and gas properties are subject to a semi-annual engineering review by our internal staff of petroleum engineers. This review is used as the basis for developing the expected cash flows supporting the loan amount. The projected cash flows are discounted according to risk characteristics of the underlying oil and gas properties. Loans are evaluated to demonstrate with reasonable certainty that crude oil, natural gas, and natural gas liquids can be recovered from known oil and gas reservoirs under existing economic and operating conditions at current pricing levels and with existing conventional equipment and operating methods and costs. As part of our evaluation of credit quality, we analyze rigorous stress tests over a range of commodity prices and take proactive steps to mitigate risk when appropriate. Outstanding energy loan balances totaled $3.1 billion, or 11% of total loans at June 30, 2026, a $47 million increase over March 31, 2026. Approximately $2.4 billion of energy loans were to oil and gas producers, a $14 million increase over March 31, 2026. The majority of this portfolio is first lien, senior secured, reserve-based lending, which we believe is the lowest risk form of energy lending. Approximately 72% of committed production loans are secured by properties primarily producing oil, and the remaining 28% of the committed production loans are secured by properties primarily producing natural gas. Loans to midstream oil and gas companies totaled $453 million at June 30, 2026, relatively unchanged compared to March 31, 2026. Loans to borrowers that provide services to the energy industry totaled $190 million at June 30, 2026, a $33 million increase compared to the prior quarter. Loans to other energy borrowers, including those engaged in wholesale or retail energy sales, totaled $48 million, relatively unchanged compared to March 31, 2026. Unfunded energy loan commitments were $4.6 billion at June 30, 2026, a $117 million increase over March 31, 2026. The Company launched the residential mortgage finance line of business in the third quarter of 2025, growing loans by $224 million during the current quarter to $452 million, or 2% of total loans. General business loans totaled $4.6 billion, or 17% of total loans, an increase of $128 million over the prior quarter. General business loans consist of $2.9 billion of wholesale/retail loans and $1.7 billion of loans from other commercial industries. Loans to non-depository financial institutions, which are included in the mortgage finance, services, and general business loans portfolios, totaled $1.1 billion, or 4% of total loans at June 30, 2026. The majority of these loans are in the two highest credit quality subcategories, subscription lines and residential mortgage finance portfolio lines. We participate in shared national credits when appropriate to obtain or maintain business relationships with local customers. Shared national credits are defined by banking regulators as credits of $100 million or more and with three or more non-affiliated banks as participants. At June 30, 2026, the outstanding principal balance of these loans totaled $6.4 billion, including $2.1 billion of general business loans, $2.0 billion of energy loans, and $1.3 billion of services sector loans. Based on dollars committed, approximately 78% of shared national credits are to borrowers with local market relationships, and we serve as the agent lender in approximately 21% of our shared national credits. We hold shared national credits to the same standard of analysis and perform the same level of review as internally originated credits. Our lending policies generally avoid loans in which we do not have the opportunity to maintain or achieve other business relationships with the customer. - 20 - Commercial Real Estate Commercial real estate represents loans for the construction of buildings or other improvements to real estate and property held by borrowers for investment purposes generally within our geographical footprint. We require collateral values in excess of the loan amounts, demonstrated cash flows in excess of expected debt service requirements, equity investment in the project, and a portion of the project already sold, leased, or permanent financing already secured. The expected cash flows from all significant new or renewed income producing property commitments are stress tested to reflect the risks in varying interest rates, vacancy rates, and rental rates. As with commercial loans, inherent lending risks are centrally monitored on a continuous basis from underwriting throughout the life of the loan for compliance with applicable lending policies. Outstanding commercial real estate loan balances totaled $5.9 billion, or 22% of total loans at June 30, 2026, largely unchanged compared to March 31, 2026. Loans secured by industrial facilities decreased by $135 million to $1.3 billion. Loans secured by retail facilities increased by $57 million to $671 million, loans secured by office facilities increased by $31 million to $853 million, other real estate loans increased by $29 million to $396 million, and loans secured by multifamily residential properties increased by $17 million to $2.6 billion. Approximately 63% of loans in this portfolio segment are in our geographic footprint based on collateral location. The largest concentration of loans in this portfolio segment outside our footprint is Utah, totaling 8% of the segment. All other states represent less than 5% individually. Unfunded commercial real estate loan commitments were $2.2 billion at June 30, 2026, an increase of $105 million compared to March 31, 2026. We take a disciplined approach to managing our concentration of commercial real estate loan commitments as a percentage of capital. Loans to Individuals Loans to individuals include residential mortgage and personal loans. Residential mortgage loans provide funds for our customers to purchase or refinance their primary residence or to borrow against the equity in their home. These loans are secured by a first or second mortgage on the customer's primary residence. Personal loans consist primarily of loans to Wealth Management clients secured by the cash surrender value of insurance policies and marketable securities. Personal loans also include direct loans secured by and for the purchase of automobiles, recreational and marine equipment, as well as unsecured loans. These loans are made in accordance with underwriting policies we believe to be conservative and are fully documented. Loans may be individually underwritten or credit scored based on size and other criteria. Credit scoring is assessed based on significant credit characteristics including credit history and residential and employment stability. In general, we sell the majority of our conforming fixed-rate mortgage loan originations in the secondary market and retain the majority of our non-conforming and adjustable-rate mortgage loans. Our mortgage loan portfolio does not include payment option adjustable-rate mortgage loans or adjustable-rate mortgage loans with initial rates that are below market. Home equity loans are primarily first-lien and fully amortizing. Residential mortgage loans guaranteed by U.S. government agencies have limited credit exposure because of the underlying agency guarantee. This amount includes residential mortgage loans previously sold into GNMA mortgage pools that the Company may repurchase when certain defined delinquency criteria are met. Because of this repurchase right, the Company is deemed to have regained effective control over these loans and must include them on the Consolidated Balance Sheet. Loans to individuals totaled $4.9 billion, or 18% of the loan portfolio, an increase of $171 million over March 31, 2026. Approximately 90% of the loans in this portfolio segment are secured by collateral located within our geographical footprint. Loans for which the collateral location is less relevant, such as unsecured loans, are categorized by the borrower's primary location. The Company secondarily evaluates loan portfolio performance based on the primary geographical market managing the loan. Loans attributed to a geographical market may not represent the location of the borrower or the collateral. All permanent mortgage loans serviced by our mortgage banking unit and held for investment by the Company are centrally managed by the Oklahoma market. - 21 - Table 13 – Loans Managed by Primary Geographical Market (In thousands) June 30, 2026 Mar. 31, 2026 Dec. 31, 2025 Sep. 30, 2025 June 30, 2025 Texas: Commercial $ 7,628,676 $ 7,489,036 $ 7,383,319 $ 6,800,577 $ 6,893,246 Commercial real estate 2,063,517 2,149,123 2,057,016 2,107,335 1,997,598 Loans to individuals 1,090,244 1,077,386 1,066,827 1,037,831 996,341 Total Texas 10,782,437 10,715,545 10,507,162 9,945,743 9,887,185 Oklahoma: Commercial 4,528,261 3,907,911 3,829,109 3,692,319 3,455,696 Commercial real estate 656,369 612,981 589,709 574,126 512,075 Loans to individuals 3,161,854 3,065,886 3,005,460 2,927,185 2,725,320 Total Oklahoma 8,346,484 7,586,778 7,424,278 7,193,630 6,693,091 Arizona: Commercial 1,344,873 1,378,256 1,253,824 1,228,593 1,166,745 Commercial real estate 1,445,762 1,448,141 1,332,658 1,348,838 1,165,927 Loans to individuals 219,062 220,116 224,354 222,963 226,727 Total Arizona 3,009,697 3,046,513 2,810,836 2,800,394 2,559,399 Colorado: Commercial 2,071,731 2,125,660 2,127,979 2,132,770 2,185,658 Commercial real estate 590,820 596,517 600,668 589,307 791,171 Loans to individuals 191,015 191,721 200,378 208,323 217,088 Total Colorado 2,853,566 2,913,898 2,929,025 2,930,400 3,193,917 Kansas/Missouri: Commercial 337,120 291,075 282,189 270,068 303,692 Commercial real estate 529,988 537,709 571,331 618,052 556,390 Loans to individuals 182,925 117,617 142,392 142,408 155,154 Total Kansas/Missouri 1,050,033 946,401 995,912 1,030,528 1,015,236 New Mexico: Commercial 310,768 308,712 311,636 282,479 282,918 Commercial real estate 538,269 484,623 465,228 458,720 443,516 Loans to individuals 47,787 48,099 49,589 51,056 55,714 Total New Mexico 896,824 841,434 826,453 792,255 782,148 Arkansas: Commercial 76,019 72,433 93,011 106,134 96,227 Commercial real estate 60,605 55,585 55,396 56,229 54,764 Loans to individuals 8,050 8,806 9,389 9,881 10,244 Total Arkansas 144,674 136,824 157,796 172,244 161,235 Total BOK Financial loans $ 27,083,715 $ 26,187,393 $ 25,651,462 $ 24,865,194 $ 24,292,211 - 22 - Off-Balance Sheet Commitments We enter into certain off-balance sheet arrangements in the normal course of business as shown in Table 14. Loan commitments may be unconditional obligations to provide financing or conditional obligations that depend on the borrower's financial condition, collateral value, or other factors. Standby letters of credit are unconditional commitments to guarantee the performance of our customer to a third party. Since some of these commitments are expected to expire before being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. We have off-balance sheet credit risk related to certain residential mortgage loans primarily originated under community development loan programs that were sold to a U.S. government agency with full recourse prior to 2007. We are obligated to repurchase these loans for the life of these loans in the event of foreclosure for the unpaid principal and interest at the time of foreclosure. The majority of our conforming fixed-rate loan originations are sold in the secondary market, and we only retain repurchase obligations under standard underwriting representations and warranties. As part of our mortgage banking activities, we also have off-balance sheet credit risk related to certain residential mortgage loans sold into residential mortgage-backed securities, including retained exposure to losses in excess of amounts guaranteed by the VA and contractual credit enhancement obligations associated with the Company's participation in the FHLB MPF program. Table 14 – Off-Balance Sheet Credit Commitments (In thousands) June 30, 2026 Mar. 31, 2026 Dec. 31, 2025 Sep. 30, 2025 June 30, 2025 Loan commitments $ 16,618,152 $ 16,175,429 $ 15,856,740 $ 15,266,953 $ 14,736,539 Standby letters of credit 618,919 616,908 606,697 643,166 702,008 Unpaid principal balance of residential mortgage loans sold with recourse 27,954 28,460 29,403 30,372 31,560 Unpaid principal balance of residential mortgage loans sold into mortgage-backed securities guaranteed by VA 834,686 844,848 855,182 869,589 890,377 Unpaid principal balance of residential mortgage loans sold to the FHLB through the MPF program 740,250 749,875 — — — Customer Risk Management Programs We offer programs that permit our customers to hedge various risks, including fluctuations in energy prices, interest rates, foreign exchange rates, and other commodities with derivative contracts. Each of these programs work essentially the same way. Derivative contracts are executed between the customers and the Company. Offsetting contracts are executed between the Company and selected counterparties or exchanges to minimize market risk to us from changes in commodity prices, interest rates, or foreign exchange rates. The counterparty contracts are identical to the customer contracts except for a fixed pricing spread or a fee paid to us as compensation for administrative costs, credit risk, and profit. The customer risk management programs create credit risk for potential amounts due to the Company from our customers and from the counterparties. Customer credit risk is monitored through existing credit policies and procedures. The effects of changes in commodity prices, interest rates, or foreign exchange rates are evaluated across a range of possible scenarios to determine the maximum exposure we are willing to have individually to any customer. Customers may also be required to provide cash margin or other collateral in conjunction with our credit agreements to further limit our credit risk. Counterparty credit risk is evaluated through existing policies and procedures. This evaluation considers the total relationship between BOK Financial and each of the counterparties. Individual limits are established by management and approved by Credit Administration. Margin collateral is required if the exposure between the Company and any counterparty exceeds established limits. Based on declines in the counterparties' credit ratings, these limits may be reduced and additional margin collateral may be required. - 23 - A deterioration of the credit standing of one or more of the customers or counterparties to these contracts may result in BOK Financial recognizing a loss as the fair value of the affected contracts may no longer move in tandem with the offsetting contracts. This occurs if the credit standing of the customer or counterparty deteriorates such that either the fair value of underlying collateral no longer supports the contract or the customer or the counterparty's ability to provide margin collateral becomes impaired. Credit losses on customer derivatives reduce Brokerage and trading revenue in the Consolidated Statements of Earnings. Derivative contracts are carried at fair value. At June 30, 2026, the net fair value of derivative contracts, before consideration of cash margin, reported as assets under these programs totaled $445 million compared to $748 million at March 31, 2026. At June 30, 2026, the net fair value of our derivative contracts included $295 million for energy contracts, $101 million for foreign exchange contracts, and $48 million for interest rate swaps. The aggregate net fair value of derivative contracts, before consideration of cash margin, held under these programs reported as liabilities totaled $433 million at June 30, 2026, and $734 million at March 31, 2026. At June 30, 2026, total derivative assets were reduced by $152 million of cash collateral received from counterparties, and total derivative liabilities were reduced by $121 million of cash collateral paid to counterparties related to instruments executed with the same counterparty under a master netting agreement. Derivative contracts executed with customers may be secured by non-cash collateral in conjunction with a credit agreement with that customer, such as proven producing oil and gas properties. Access to this collateral in an event of default is reasonably assured. A table showing the notional and fair value of derivative assets and liabilities on both a gross and net basis is presented in Note 3 to the Consolidated Financial Statements. The fair value of derivative contracts reported as assets under these programs, net of cash margin held by the Company, by category of debtor at June 30, 2026, follows in Table 15. Table 15 – Fair Value of Derivative Contracts (In thousands) Customers $ 147,906 Banks and other financial institutions 82,778 Exchanges and clearing organizations 62,555 Fair value of customer risk management program asset derivative contracts, net $ 293,239 At June 30, 2026, our largest derivative exposure was to an exchange for $92 million of cash margin placed with the exchange, net of $60 million energy derivative positions in a net asset position. Our customer risk management program also introduces liquidity and capital risk. We are required to provide cash margin to certain counterparties when the net negative fair value of the contracts exceeds established limits which may incur additional funding costs. Also, changes in commodity prices affect the amount of regulatory capital we are required to hold as support for the fair value of our derivative assets. These risks are modeled as part of the management of these programs. Based on current prices, a 20% parallel decrease in market prices to an equivalent of $55.60 per barrel of prompt-month (prices for delivery in the nearest contract month) oil and $2.62 per MMBtu of prompt-month natural gas would decrease the fair value of derivative assets by $107 million. A 20% parallel increase in prices to an equivalent of $83.40 per barrel of prompt-month oil and $3.93 per MMBtu of prompt-month natural gas would increase the fair value of derivative assets by $458 million as asset values rise faster than margin paid. Liquidity requirements of this program are not affected by changes in our credit rating. The fair value of our to-be-announced residential mortgage-backed securities and interest rate swap derivative contracts is affected by changes in interest rates. Based on our assessment as of June 30, 2026, changes in interest rates would not materially impact regulatory capital or liquidity needed to support this portion of our customer risk management program. - 24 - Summary of Credit Loss Experience Table 16 – Summary of Credit Loss Experience (Dollars in thousands) Three Months Ended June 30, 2026 Mar. 31, 2026 Dec. 31, 2025 Sep. 30, 2025 June 30, 2025 Allowance for loan losses: Beginning balance $ 277,719 $ 275,860 $ 277,692 $ 277,049 $ 278,594 Loans charged off (1,305) (3,176) (2,353) (4,348) (1,313) Recoveries of loans previously charged off 805 1,303 907 721 752 Net loans charged off (500) (1,873) (1,446) (3,627) (561) Provision for credit losses 255 3,732 (386) 4,270 (984) Ending balance $ 277,474 $ 277,719 $ 275,860 $ 277,692 $ 277,049 Accrual for off-balance sheet credit risk from unfunded loan commitments: Beginning balance $ 45,337 $ 51,271 $ 50,784 $ 52,992 $ 52,088 Provision for credit losses 142 (5,934) 487 (2,208) 904 Ending balance $ 45,479 $ 45,337 $ 51,271 $ 50,784 $ 52,992 Accrual for off-balance sheet credit risk associated with mortgage banking activities: Beginning balance $ 5,147 $ 2,934 $ 3,030 $ 3,111 $ 3,060 Net loans charged off 135 — (1) (7) (26) Provision for credit losses (283) 2,213 (95) (74) 77 Ending balance $ 4,999 $ 5,147 $ 2,934 $ 3,030 $ 3,111 Allowance for credit losses related to investment (held-to-maturity) securities: Beginning balance $ 191 $ 202 $ 208 $ 196 $ 193 Provision for credit losses (114) (11) (6) 12 3 Ending balance $ 77 $ 191 $ 202 $ 208 $ 196 Total provision for credit losses $ — $ — $ — $ 2,000 $ — Average loans by portfolio segment: Commercial $ 16,015,484 $ 15,430,740 $ 15,037,471 $ 14,490,145 $ 14,315,695 Commercial real estate 5,914,630 5,779,715 5,581,588 5,743,572 5,495,152 Loans to individuals 4,839,524 4,715,130 4,623,492 4,592,422 4,365,702 Net charge-offs (annualized) to average loans 0.01 % 0.03 % 0.02 % 0.06 % 0.01 % Net charge-offs (annualized) to average loans by portfolio segment: Commercial — % 0.02 % 0.02 % 0.08 % — % Commercial real estate — % — % — % (0.01) % 0.01 % Loans to individuals 0.05 % 0.10 % 0.06 % 0.05 % 0.05 % Recoveries to gross charge-offs 61.69 % 41.03 % 38.55 % 16.58 % 57.27 % Provision for loan losses (annualized) to average loans — % 0.06 % (0.01) % 0.07 % (0.02) % Allowance for loan losses to loans outstanding at period end 1.02 % 1.06 % 1.08 % 1.12 % 1.14 % Accrual for unfunded loan commitments to unfunded loan commitments 0.27 % 0.28 % 0.32 % 0.33 % 0.36 % Combined allowance for loan losses and accrual for off-balance sheet credit risk from unfunded loan commitments to loans outstanding at period end 1.19 % 1.23 % 1.28 % 1.32 % 1.36 % - 25 - Allowance for Loan Losses and Accrual for Off-Balance Sheet Credit Risk from Unfunded Loan Commitments Expected credit losses on assets carried at amortized cost are recognized over their expected lives based on models that measure the probability of default and loss given default over a 12-month reasonable and supportable forecast period. Models incorporate base case, downside, and upside macroeconomic variables such as real GDP growth, civilian unemployment rate, commercial real estate vacancy rates, and WTI oil prices on a probability weighted basis. See Note 4 to the Consolidated Financial Statements for additional discussion of methodology of allowance for loan losses. Non-pass grade loans, which include loans especially mentioned, accruing substandard, and nonaccruing loans, totaled $520 million at June 30, 2026, a decrease of $9.0 million compared to March 31, 2026. Non-pass grade loans were composed primarily of $134 million, or 3%, of commercial services loans; $118 million, or 3%, of commercial healthcare loans; $113 million, or 2%, of commercial real estate loans; and $107 million, or 2%, of commercial general business loans. Nonaccruing loans increased $2.1 million during the quarter, loans especially mentioned increased $8.3 million, and accruing substandard loans decreased $19 million compared to the prior quarter. A summary of outstanding loan balances by risk grade is included in Note 4 to the Consolidated Financial Statements. No provision for credit losses was necessary for the second quarter of 2026. An improvement in economic forecast assumptions, including GDP growth, lower unemployment, and improved vacancy rates, compared to the prior quarter was offset by the impact of loan growth during the quarter. The allowance for loan losses totaled $277 million, or 1.02% of outstanding loans, at June 30, 2026. Excluding residential mortgage loans guaranteed by U.S. government agencies, the allowance for loan losses was 509% of nonaccruing loans. The combined allowance for loan losses and accrual for off-balance sheet credit risk from unfunded loan commitments was $323 million, or 1.19% of outstanding loans and 592% of nonaccruing loans, at June 30, 2026. The probability weighting of all scenarios in our reasonable and supportable forecast remained unchanged compared to the prior quarter. The sensitivity to management's economic scenario weighting may be quantified by comparing the results of weighting each economic scenario at 100%. For example, compared to a 100% base case scenario, a 100% downside case would result in an additional $186 million in quantitative reserve, while a 100% upside case would result in $5.9 million less quantitative reserve at June 30, 2026. Such sensitivity calculations do not necessarily reflect the nature and extent of future changes in the related allowance. No provision for credit losses was necessary for the first quarter of 2026. The allowance for loan losses was $278 million, or 1.06% of outstanding loans, at March 31, 2026. Excluding residential mortgage loans guaranteed by U.S. government agencies, the allowance for loan losses was 532% of nonaccruing loans. The combined allowance for loan losses and accrual for off-balance sheet credit risk from unfunded loan commitments was $323 million, or 1.23% of outstanding loans and 618% of nonaccruing loans. - 26 - A summary of macroeconomic variables considered in developing our estimate of expected credit losses at June 30, 2026 follows: Base Downside Upside Scenario probability weighting 50% 35% 15% Economic outlook Geopolitical conflicts remain isolated. Inflation measures move higher during the third quarter of 2026 due to temporary energy-related pressures, but improve as oil prices normalize. Core inflation remains elevated, reaching 2.7% by the second quarter of 2027. There are no rate cuts over the next four quarters, leaving the federal funds target range unchanged at 3.50% to 3.75% at the end of the second quarter of 2027. Higher energy prices negatively offset the One Big Beautiful Bill fiscal stimulus, and the labor market remains in its current low hire/low fire state. Geopolitical conflicts remain isolated. Inflation reaccelerates and reduces real wages. This results in a significant decrease in consumer spending, which is compounded by a restrictive credit environment and declines in private sector investment. This pushes the United States into a recession with a contraction in economic activity and a sharp increase in the unemployment rate. The Federal Reserve is forced to adopt an accommodative monetary policy compared to the base case scenario and cut the federal funds rate significantly to encourage economic activity and job creation. In total, there are seven rate cuts over the next four quarters bringing the target range to 1.75% to 2.00% by the end of the second quarter of 2027. The continued conflict in the Middle East causes WTI prices to surge higher in the third quarter of 2026. This is followed by significant demand destruction for domestic oil combined with record levels of production, which leads to a sharp decline in oil prices beginning in the fourth quarter of 2026. Geopolitical conflicts remain isolated. Inflation measures that moved higher during the second quarter of 2026 due to temporary energy-related pressures improve as oil prices quickly normalize through the second quarter of 2027. The impact of tariffs and restrictive immigration policies is minor. Core inflation improves and reaches 2.3% by the second quarter of 2027. There is one rate cut over the next four quarters, bringing the target range to 3.25% to 3.50% by the end of the second quarter of 2027. Benefits from the One Big Beautiful Bill and AI investments help lift consumer spending levels and labor force productivity, resulting in above-trend GDP growth. Macro-economic factors –GDP is forecasted to grow by 2.0% over the next 12 months.–Civilian unemployment rate of 4.3% in the third quarter of 2026 increases to 4.4% in the second quarter of 2027.–WTI oil prices are projected to average $76.96 per barrel over the next 12 months, with a peak of $80.22 in the third quarter of 2026 and falling 6% over the following three quarters. –GDP is forecasted to contract 2.0% over the next 12 months.–Civilian unemployment rate of 5.2% in the third quarter of 2026 increases to 6.7% in the second quarter of 2027.–WTI oil prices are projected to average $59.93 per barrel over the next 12 months, with a peak of $95.67 in the third quarter of 2026 and falling 54% over the following three quarters. –GDP is forecasted to grow by 2.4% over the next 12 months.–Civilian unemployment rate of 4.2% in the third quarter of 2026 falls to 4.0% by the second quarter of 2027.–WTI oil prices are projected to average $73.43 per barrel over the next 12 months, with a peak of $77.65 in the third quarter of 2026 and falling 10% over the following three quarters. - 27 - Net Loans Charged Off Net charge-offs were $500 thousand, or 0.01% of average loans on an annualized basis, in the second quarter primarily driven by deposit account overdraft losses that are included in net charge-offs of loans to individuals. At June 30, 2026, net charge-offs for the trailing twelve months were $7.4 million, or 0.03% of average loans. Net charge-offs were $1.9 million, or 0.03% of average loans on an annualized basis, in the first quarter of 2026. At March 31, 2026, net charge-offs for the trailing twelve months were $7.5 million, or 0.03% of average loans. Accrual for Off-Balance Sheet Credit Risk Associated with Mortgage Banking Activities The accrual for off-balance sheet credit risk associated with mortgage banking activities includes consideration of credit risk related to certain residential mortgage loans sold into mortgage-backed securities in excess of amounts guaranteed by the VA, mortgage loans originated under community development loan programs that were sold to a U.S. government agency with full recourse, and mortgage loans sold to the FHLB through the MPF program. We use publicly available long-term national data to estimate total loss given default for our off-balance sheet credit risk related to losses in excess of amounts guaranteed by the VA. This result is combined with probability of default output from our mortgage servicing rights model to estimate total expected loss. Then, we estimate the VA's guarantee percentage to determine our portion of the credit risk. This same publicly available national mortgage credit performance data is also used to estimate retained credit risk from contractual credit enhancement obligations on loans sold through the MPF program. Qualitative adjustments may be used, if necessary. Allowance for Credit Losses Related to Investment (Held-to-Maturity) Securities The expected credit losses principles apply to all financial assets measured at cost, including our investment (held-to-maturity) debt securities portfolio. Our investment portfolio includes municipal and other tax-exempt securities and other debt securities. Expected credit losses for these assets are based on the probability of default and loss given default assumptions that align with similarly graded loans. Qualitative adjustments may be used, if necessary. - 28 - Nonperforming Assets As more fully described in Note 4 to the Consolidated Financial Statements, loans are generally classified as nonaccruing when it becomes probable that we will not collect the full contractual principal and interest. Real estate and other repossessed assets are assets acquired in partial or total forgiveness of loans. The assets are carried at the lower of cost as determined by fair value at the date of foreclosure or current fair value, less estimated selling costs. A summary of nonperforming assets follows in Table 17. Table 17 – Nonperforming Assets (Dollars in thousands) June 30, 2026 Mar. 31, 2026 Dec. 31, 2025 Sep. 30, 2025 June 30, 2025 Nonaccruing loans: Commercial: Healthcare $ 21,112 $ 21,138 $ 23,490 $ 24,507 $ 28,743 Services 2,928 1,260 6,135 7,647 11,329 Energy — — — 31 40 General business 5,118 2,868 6,477 85 45 Total commercial 29,158 25,266 36,102 32,270 40,157 Commercial real estate 6,431 6,601 6,697 6,809 6,925 Loans to individuals: Residential mortgage 18,768 20,175 18,263 21,255 20,654 Residential mortgage guaranteed by U.S. government agencies 7,585 7,768 8,586 7,348 6,978 Personal 200 194 4,712 4,712 4,613 Total loans to individuals 26,553 28,137 31,561 33,315 32,245 Total nonaccruing loans 62,142 60,004 74,360 72,394 79,327 Real estate and other repossessed assets 508 15 176 1,751 1,729 Total nonperforming assets $ 62,650 $ 60,019 $ 74,536 $ 74,145 $ 81,056 Total nonperforming assets excluding those guaranteed by U.S. government agencies $ 55,065 $ 52,251 $ 65,950 $ 66,797 $ 74,078 Allowance for loan losses to nonaccruing loans1 508.59 % 531.66 % 419.41 % 426.92 % 382.93 % Combined allowance for loan losses and accrual for off-balance sheet credit risk from unfunded loan commitments to nonaccruing loans1 591.96 % 618.45 % 497.36 % 504.99 % 456.18 % Nonperforming assets to outstanding loans and repossessed assets 0.23 % 0.23 % 0.29 % 0.30 % 0.33 % Nonperforming assets to outstanding loans and repossessed assets1 0.20 % 0.20 % 0.26 % 0.27 % 0.31 % Nonaccruing loans to outstanding loans 0.23 % 0.23 % 0.29 % 0.29 % 0.33 % Nonaccruing commercial loans to outstanding commercial loans 0.18 % 0.16 % 0.24 % 0.22 % 0.28 % Nonaccruing commercial real estate loans to outstanding commercial real estate loans 0.11 % 0.11 % 0.12 % 0.12 % 0.13 % Nonaccruing loans to individuals to outstanding loans to individuals1 0.40 % 0.45 % 0.51 % 0.58 % 0.60 % Accruing loans 90 days or more past due1 $ 6,242 $ 2,411 $ — $ 1,135 $ 1,388 1 Excludes residential mortgages guaranteed by U.S. government agencies. Nonaccruing loans increased $2.1 million compared to March 31, 2026. New nonaccruing loans identified in the second quarter totaled $8.5 million, offset by $3.4 million in payments received and $1.3 million in charge-offs. Nonaccruing general business loans increased $2.3 million and nonaccruing services loans increased $1.7 million, while nonaccruing loans to individuals decreased $1.6 million. The Company generally retains nonperforming assets to maximize potential recovery, which may cause future nonperforming assets to decrease more slowly. - 29 - A rollforward of nonperforming assets for the three and six months ended June 30, 2026, follows in Table 18. Table 18 – Rollforward of Nonperforming Assets (In thousands) Three Months Ended June 30, 2026 Nonaccruing Loans Real Estate and Other Repossessed Assets Total Nonperforming Assets Commercial Commercial Real Estate Loan to Individuals Total Balance, March 31, 2026 $ 25,266 $ 6,601 $ 28,137 $ 60,004 $ 15 $ 60,019 Additions 4,123 — 4,327 8,450 — 8,450 Payments (119) (170) (3,125) (3,414) — (3,414) Charge-offs (112) — (1,193) (1,305) — (1,305) Net gains (losses) and write-downs — — — — 92 92 Foreclosure of nonaccruing loans — — (542) (542) 542 — Foreclosure of loans guaranteed by U.S. government agencies — — (453) (453) — (453) Proceeds from sales — — — — (141) (141) Return to accrual status — — (598) (598) — (598) Balance, June 30, 2026 $ 29,158 $ 6,431 $ 26,553 $ 62,142 $ 508 $ 62,650 Six Months Ended June 30, 2026 Nonaccruing Loans Real Estate and Other Repossessed Assets Total Nonperforming Assets Commercial Commercial Real Estate Loan to Individuals Total Balance, Dec. 31, 2025 $ 36,102 $ 6,697 $ 31,561 $ 74,360 $ 176 $ 74,536 Additions 5,844 — 10,731 16,575 — 16,575 Payments (3,811) (266) (5,132) (9,209) — (9,209) Charge-offs (1,547) — (2,934) (4,481) — (4,481) Net gains (losses) and write-downs — — — — 509 509 Foreclosure of nonperforming loans — — (5,236) (5,236) 5,236 — Foreclosure of loans guaranteed by U.S. government agencies — — (1,116) (1,116) — (1,116) Proceeds from sales — — — — (5,413) (5,413) Return to accrual status (3,678) — (1,321) (4,999) — (4,999) Other, net (3,752) — — (3,752) — (3,752) Balance, June 30, 2026 $ 29,158 $ 6,431 $ 26,553 $ 62,142 $ 508 $ 62,650 We foreclose on loans guaranteed by U.S. government agencies in accordance with agency guidelines. Generally, these loans are not eligible for modification programs or have failed to comply with modified loan terms. Principal is guaranteed by agencies of the U.S. government, subject to limitations, and credit risk is limited. At foreclosure, these amounts are transferred to claims receivable accounts. These properties will be conveyed to the agencies once applicable criteria have been met. Real Estate and Other Repossessed Assets Real estate and other repossessed assets totaled $508 thousand at June 30, 2026, an increase of $493 thousand compared to March 31, 2026. Real estate and other repossessed assets were composed primarily of $497 thousand of single family residential properties. - 30 - Liquidity and Capital Our funding sources, which primarily include deposits and borrowings from the Federal Home Loan Banks and other banks, provide adequate liquidity to meet our operating needs. Based on the average balances for the second quarter of 2026, approximately 72% of our funding was provided by deposit accounts, 14% from borrowed funds, 11% from equity, and less than 1% from long-term subordinated debt. The loan to deposit ratio was 68% at both June 30, 2026 and March 31, 2026, providing significant on-balance sheet liquidity to meet future loan demand and contractual obligations. Subsidiary Bank Deposits and borrowed funds are the primary sources of liquidity for BOKF, NA, the wholly owned subsidiary bank of BOK Financial. We compete for retail and commercial deposits by offering a broad range of products and services and focusing on customer convenience. Retail deposit growth is supported through personal and small business checking, online bill paying services, mobile banking services, an extensive network of branch locations and ATMs, and our ExpressBank call center. Commercial deposit growth is supported by offering treasury management and lockbox services. We also acquire brokered deposits when the cost of funds is advantageous to other funding sources. Table 19 – Average Deposits by Segment (In thousands) Three Months Ended June 30, 2026 Mar. 31, 2026 Dec. 31, 2025 Sep. 30, 2025 June 30, 2025 Commercial Banking $ 18,918,188 $ 18,306,337 $ 18,492,793 $ 18,161,486 $ 17,424,707 Consumer Banking 8,592,876 8,389,039 8,346,245 8,330,481 8,266,824 Wealth Management 10,656,194 10,782,785 10,703,630 10,731,569 10,783,245 Subtotal 38,167,258 37,478,161 37,542,668 37,223,536 36,474,776 Funds Management and Other 1,062,866 1,502,098 2,444,941 1,257,710 1,661,940 BOK Financial Corporation $ 39,230,124 $ 38,980,259 $ 39,987,609 $ 38,481,246 $ 38,136,716 Average deposits for the second quarter of 2026 totaled $39.2 billion, a $250 million increase over the first quarter of 2026. Average interest-bearing transaction accounts increased $119 million and average time deposit balances increased $117 million. Average savings account balances increased $25 million, while average demand deposit balances decreased $11 million compared to the prior quarter. Average Commercial Banking deposits increased $612 million over the first quarter of 2026, primarily attributable to a $662 million increase in interest-bearing transaction deposit balances, partially offset by a $37 million decrease in demand deposit balances. Our Commercial deposit portfolio is highly diversified across industries and customers. The highest concentration by industry within our Commercial deposit portfolio is our energy customers representing 10% of our total deposits. Average Consumer Banking deposit balances increased $204 million over the prior quarter. Time deposit balances increased $80 million, demand deposit balances increased $66 million, interest-bearing transaction accounts increased $32 million, and savings accounts increased $25 million. Average Wealth Management deposits decreased $127 million compared to the first quarter of 2026. Interest-bearing transaction account balances decreased $166 million and demand deposit balances decreased $29 million. Time deposits balances increased $69 million. Average brokered deposits were 5% of total average deposits during the second quarter of 2026. Excluding the reciprocal component, brokered deposits were less than 1% of average deposits. Reciprocal deposit balances in excess of the $5 billion general threshold, defined by the FDIC, are included as brokered deposits. Average interest-bearing transaction accounts for the second quarter included $1.8 billion of brokered deposits, decreasing $279 million compared to the first quarter of 2026. Average time deposits for the second quarter of 2026 included $5.4 million of brokered deposits, an $18 million decrease compared to the first quarter of 2026. Period end brokered interest-bearing transaction accounts increased $118 million to $1.9 billion and period end brokered time deposits were consistent with the prior quarter at $5.4 million as of June 30, 2026. - 31 - On July 11, 2026, the 21st Century ROAD to Housing Act became effective and revised the reciprocal deposit exclusion from brokered deposit treatment by implementing a graduated threshold based on the Company's liabilities. Based on balances as of June 30, 2026, management estimates the Company's reciprocal deposit balances were below the revised threshold and would be excluded from brokered deposit treatment under the revised framework. The distribution of our period end deposit account balances among principal markets follows in Table 20. Table 20 – Period End Deposits by Principal Market Area (In thousands) June 30, 2026 Mar. 31, 2026 Dec. 31, 2025 Sep. 30, 2025 June 30, 2025 Oklahoma: Demand $ 3,482,203 $ 3,463,094 $ 3,492,243 $ 3,520,203 $ 3,589,146 Interest-bearing: Transaction 13,623,048 13,629,679 13,732,961 13,352,070 13,537,068 Savings 563,466 561,079 532,284 520,995 521,734 Time 2,371,623 2,245,523 2,232,078 2,356,945 2,166,094 Total interest-bearing 16,558,137 16,436,281 16,497,323 16,230,010 16,224,896 Total Oklahoma 20,040,340 19,899,375 19,989,566 19,750,213 19,814,042 Texas: Demand 2,178,864 2,071,766 2,177,256 2,194,177 2,082,652 Interest-bearing: Transaction 7,167,229 6,447,755 6,691,395 6,427,135 6,203,081 Savings 148,701 153,501 149,593 147,560 155,027 Time 673,126 676,876 647,158 649,757 638,657 Total interest-bearing 7,989,056 7,278,132 7,488,146 7,224,452 6,996,765 Total Texas 10,167,920 9,349,898 9,665,402 9,418,629 9,079,417 Colorado: Demand 977,110 881,440 1,152,203 929,383 1,040,223 Interest-bearing: Transaction 2,210,988 2,072,825 2,137,579 2,204,899 1,989,284 Savings 56,735 58,605 54,809 53,768 55,326 Time 293,325 299,196 282,320 284,962 278,914 Total interest-bearing 2,561,048 2,430,626 2,474,708 2,543,629 2,323,524 Total Colorado 3,538,158 3,312,066 3,626,911 3,473,012 3,363,747 New Mexico: Demand 599,831 580,900 580,400 591,330 609,205 Interest-bearing: Transaction 1,596,275 1,447,506 1,405,940 1,376,694 1,416,741 Savings 102,306 99,848 95,630 94,180 94,930 Time 386,946 374,661 354,757 347,227 340,946 Total interest-bearing 2,085,527 1,922,015 1,856,327 1,818,101 1,852,617 Total New Mexico 2,685,358 2,502,915 2,436,727 2,409,431 2,461,822 - 32 - June 30, 2026 Mar. 31, 2026 Dec. 31, 2025 Sep. 30, 2025 June 30, 2025 Arizona: Demand 351,429 398,102 365,007 368,432 385,442 Interest-bearing: Transaction 1,369,657 1,439,796 1,450,416 1,406,300 1,467,509 Savings 9,787 11,593 14,656 13,571 10,536 Time 73,261 73,912 72,286 71,886 72,041 Total interest-bearing 1,452,705 1,525,301 1,537,358 1,491,757 1,550,086 Total Arizona 1,804,134 1,923,403 1,902,365 1,860,189 1,935,528 Kansas/Missouri: Demand 248,190 271,399 281,263 282,235 269,408 Interest-bearing: Transaction 1,199,349 1,203,155 1,194,500 1,151,956 1,169,161 Savings 16,782 16,222 14,256 14,251 13,719 Time 35,686 38,542 37,820 37,563 35,768 Total interest-bearing 1,251,817 1,257,919 1,246,576 1,203,770 1,218,648 Total Kansas/Missouri 1,500,007 1,529,318 1,527,839 1,486,005 1,488,056 Arkansas: Demand 24,034 27,628 33,558 21,416 22,685 Interest-bearing: Transaction 75,872 111,487 237,279 64,174 61,079 Savings 2,703 2,859 2,695 2,411 2,485 Time 17,315 18,099 12,664 14,538 17,248 Total interest-bearing 95,890 132,445 252,638 81,123 80,812 Total Arkansas 119,924 160,073 286,196 102,539 103,497 Total BOK Financial deposits $ 39,855,841 $ 38,677,048 $ 39,435,006 $ 38,500,018 $ 38,246,109 Estimated uninsured deposits totaled $21.2 billion, or 53% of our total deposits, at June 30, 2026. In addition to insured deposits, we also hold $4.3 billion of collateralized deposits. Municipalities, Native American tribal governments, and certain trust-related deposits are all required to be collateralized. Excluding the impact of collateralized deposits and deposits related to consolidated subsidiaries, our uninsured and uncollateralized deposit level is $16.2 billion, or 41% of total deposits, at June 30, 2026. In addition to deposits, liquidity for the subsidiary bank is provided primarily by federal funds purchased, securities repurchase agreements, and Federal Home Loan Bank borrowings. Federal funds purchased consist primarily of unsecured, overnight funds acquired from other financial institutions. Funds are primarily purchased from bankers' banks and Federal Home Loan Banks from across the country. The largest single source of wholesale federal funds purchased totaled $750 million at June 30, 2026. Securities repurchase agreements generally mature within 90 days and are secured by certain AFS and trading securities. Federal Home Loan Bank borrowings are generally short term and are secured by a blanket pledge of eligible collateral (generally unencumbered U.S. Treasury and agency mortgage-backed securities, 1-4 family residential mortgage loans, multifamily, and other qualifying commercial real estate loans). Amounts borrowed from the Federal Home Loan Bank of Topeka averaged $6.9 billion during the quarter, compared to $5.3 billion in the first quarter of 2026. At June 30, 2026, management estimates a total potential secured borrowing capacity of approximately $28.6 billion. This includes current available secured capacity of $24.7 billion from the use of programs available to U.S. banks from the Federal Home Loan Banks and Federal Reserve Banks and an estimated $3.9 billion of other sources that could be converted into additional secured capacity. - 33 - A summary of other borrowings for BOK Financial on a consolidated basis follows in Table 21. Table 21 – Borrowed Funds (Dollars in thousands) Three Months Ended June 30, 2026 Three Months Ended Mar. 31, 2026 June 30, 2026 Average Balance During the Quarter Rate Maximum Outstanding At Any Month End During the Quarter Mar. 31, 2026 Average Balance During the Quarter Rate Maximum Outstanding At Any Month End During the Quarter Funds purchased $ 1,349,970 $ 333,158 3.78 % $ 1,349,970 $ 495,792 $ 658,684 3.39 % $ 703,162 Repurchase agreements 153,946 187,723 1.87 % 172,283 219,677 265,544 1.66 % 351,377 Other borrowings: FHLB advances 3,030,000 6,880,440 3.86 % 5,430,000 5,700,000 5,301,280 3.89 % 5,700,000 GNMA repurchase liability 34,118 31,971 3.89 % 34,118 33,485 35,994 3.93 % 37,529 Other 9,877 10,040 9.67 % 10,027 20,019 11,787 6.47 % 20,019 Total other borrowings 3,073,995 6,922,451 3.88 % 5,753,504 5,349,061 3.90 % Subordinated debentures1 396,661 396,642 6.25 % 396,661 396,625 396,606 6.14 % 396,625 Total other borrowed funds $ 4,974,572 $ 7,839,974 3.95 % $ 6,865,598 $ 6,669,895 3.90 % 1 BOKF, NA only. BOKF, NA also has a liability related to the repurchase of certain delinquent residential mortgage loans previously sold into GNMA mortgage pools. Interest is payable monthly at rates contractually due to investors if delinquent loans are not repurchased from the GNMA mortgage pools. Parent Company At June 30, 2026, cash and interest-bearing cash and cash equivalents held by the parent company totaled $92 million. The primary sources of liquidity for BOK Financial are cash on hand and dividends from BOKF, NA. Dividends from the subsidiary bank are limited by various banking regulations to net profits, as defined, for the year plus retained profits for the two preceding years. Dividends are further restricted by minimum capital requirements. At June 30, 2026, based upon the most restrictive limitations as well as management's internal capital policy, BOKF, NA could declare up to $555 million of dividends. Dividend constraints may be alleviated through increases in retained earnings, capital issuances, or changes in risk weighted assets. Future losses or increases in required regulatory capital at the bank could affect its ability to pay dividends to the parent company. Our equity capital at June 30, 2026 was $6.1 billion, a $110 million increase compared to March 31, 2026. Net income less cash dividends paid increased equity $138 million during the second quarter of 2026. Changes in interest rates resulted in a $25 million increase in the accumulated other comprehensive loss compared to March 31, 2026. Capital is managed to maximize long-term value to the shareholders. Factors considered in managing capital include projections of future earnings including expected benefits from lower federal income tax rates, asset growth and acquisition strategies, and regulatory requirements. Capital management may include subordinated debt or perpetual preferred stock issuance, share repurchase, and stock and cash dividends. On July 29, 2025, the Board authorized the Company to purchase up to five million common shares of Company stock, subject to market conditions, securities law, and other regulatory compliance limitations. Under this authority, shares may be repurchased on the open market, including plans complying with rules 10b5-1 and 10b-18, which includes plans using accelerated share repurchases. As of June 30, 2026, the Company had repurchased 2,985,480 shares under this authorization. The Company repurchased 2,519 shares of common stock at an average price of $129.89 per share in the second quarter of 2026. We view share buybacks opportunistically, but within the context of maintaining our strong capital position. - 34 - The Company entered into ASR transactions totaling $250 million in November 2025. Upon execution, the Company received an initial delivery of 2,100,840 shares, which were recorded as treasury stock. The remaining portion of the ASR was accounted for as a forward contract classified in equity. The forward contract was settled in May 2026 in accordance with the agreement based on the volume-weighted average price of the Company's common stock during the contractual pricing period of approximately $123 per share. The settlement amount, adjusted for the terms of the agreement, was recorded as an adjustment to treasury stock. BOK Financial and BOKF, NA are subject to various capital requirements administered by federal agencies. Failure to meet minimum capital requirements, including a capital conservation buffer, can result in certain mandatory and possibly additional discretionary actions by regulators that could have a material impact on operations including restrictions on capital distributions from dividends and share repurchases and executive bonus payments. These capital requirements include quantitative measures of assets, liabilities, and off-balance sheet items. The capital standards are also subject to qualitative judgments by the regulators. A summary of minimum capital requirements, including a capital conservation buffer, follows in Table 22. A bank which falls below these levels, including the capital conservation buffer, would be subject to regulatory restrictions on capital distributions (including, but not limited to, dividends and share repurchases) and executive bonus payments. Capital and other performance ratios for BOK Financial on a consolidated basis are presented in Table 22. Table 22 – Capital and Performance Ratios Minimum Capital Requirement Capital Conservation Buffer Minimum Capital Requirement Including Capital Conservation Buffer June 30, 2026 Mar. 31, 2026 June 30, 2025 Capital: Common equity Tier 1 4.50 % 2.50 % 7.00 % 12.89 % 12.61 % 13.59 % Tier 1 capital 6.00 % 2.50 % 8.50 % 12.89 % 12.61 % 13.60 % Total capital 8.00 % 2.50 % 10.50 % 14.67 % 14.39 % 14.48 % Tier 1 leverage 4.00 % N/A 4.00 % 9.81 % 9.85 % 9.88 % Three Months Ended June 30, 2026 Mar. 31, 2026 June 30, 2025 Average total equity to average assets 11.07 % 11.34 % 11.08 % Tangible common equity ratio1 9.61 % 9.29 % 9.63 % Performance Ratios: Return on average equity 11.73 % 10.49 % 9.70 % Return on average tangible common equity1 14.27 % 12.78 % 11.94 % 1 See Explanation and Reconciliation of Non-GAAP Measures following. Off-Balance Sheet Arrangements See Note 4 to the Consolidated Financial Statements for a discussion of the Company's significant off-balance sheet commitments. - 35 - Explanation and Reconciliation of Non-GAAP Measures Table 23 provides a reconciliation of the non-GAAP measures with financial measures defined by GAAP. Table 23 – Non-GAAP Measures (Dollars in thousands) June 30, 2026 Mar. 31, 2026 Dec. 31, 2025 Sep. 30, 2025 June 30, 2025 Reconciliation of tangible common equity ratio: Total shareholders' equity $ 6,083,106 $ 5,973,175 $ 5,918,646 $ 6,022,535 $ 5,890,888 Less: Goodwill and intangible assets, net 1,074,577 1,077,052 1,079,501 1,082,125 1,084,749 Tangible common equity $ 5,008,529 $ 4,896,123 $ 4,839,145 $ 4,940,410 $ 4,806,139 Total assets $ 53,179,287 $ 53,760,405 $ 52,237,501 $ 50,193,387 $ 50,998,077 Less: Goodwill and intangible assets, net 1,074,577 1,077,052 1,079,501 1,082,125 1,084,749 Tangible assets $ 52,104,710 $ 52,683,353 $ 51,158,000 $ 49,111,262 $ 49,913,328 Tangible common equity ratio 9.61 % 9.29 % 9.46 % 10.06 % 9.63 % Reconciliation of return on average tangible common equity: Total average shareholders' equity $ 6,038,651 $ 6,022,247 $ 5,959,186 $ 5,960,711 $ 5,791,275 Less: Average goodwill and intangible assets, net 1,075,733 1,078,240 1,080,758 1,083,390 1,086,991 Average tangible common equity $ 4,962,918 $ 4,944,007 $ 4,878,428 $ 4,877,321 $ 4,704,284 Net income attributable to BOK Financial Corporation shareholders $ 176,539 $ 155,766 $ 177,301 $ 140,894 $ 140,018 Return on average tangible common equity 14.27 % 12.78 % 14.42 % 11.46 % 11.94 % Calculation of efficiency ratio: Total other operating expense $ 361,679 $ 354,166 $ 361,054 $ 369,770 $ 354,503 Less: Amortization of intangible assets 2,390 2,443 2,656 2,656 2,656 Numerator for efficiency ratio $ 359,289 $ 351,723 $ 358,398 $ 367,114 $ 351,847 Less: FDIC special assessment — — (9,479) (1,209) (523) Adjusted numerator for efficiency ratio $ 359,289 $ 351,723 $ 367,877 $ 368,323 $ 352,370 Net interest income $ 351,830 $ 342,554 $ 345,281 $ 337,646 $ 328,166 Add: Tax-equivalent adjustment 2,719 2,610 2,555 2,565 2,574 Tax-equivalent net interest income 354,549 345,164 347,836 340,211 330,740 Add: Total other operating revenue 237,572 211,268 244,282 210,709 207,098 Less: Gain (loss) on available-for-sale securities, net (4,645) — 1,748 213 — Denominator for efficiency ratio $ 596,766 $ 556,432 $ 590,370 $ 550,707 $ 537,838 Less: Gain on sale of merchant banking investment — — 23,475 — — Less: Gain on exchange of Visa shares 30,908 — — — — Adjusted denominator for efficiency ratio $ 565,858 $ 556,432 $ 566,895 $ 550,707 $ 537,838 Efficiency ratio 60.21 % 63.21 % 60.71 % 66.66 % 65.42 % Efficiency ratio excluding adjustments 63.49 % 63.21 % 64.89 % 66.88 % 65.52 % Reconciliation of pre-provision net revenue: Net income before taxes $ 227,723 $ 199,656 $ 228,509 $ 176,585 $ 180,761 Add: Provision for credit losses — — — 2,000 — Less: Net income (loss) attributable to non-controlling interests 43 (46) (35) (23) 52 Pre-provision net revenue $ 227,680 $ 199,702 $ 228,544 $ 178,608 $ 180,709 - 36 - June 30, 2026 Mar. 31, 2026 Dec. 31, 2025 Sep. 30, 2025 June 30, 2025 Information on net interest income and net interest margin excluding trading activities: Net interest income $ 351,830 $ 342,554 $ 345,281 $ 337,646 $ 328,166 Less: Trading activities net interest income 18,283 15,366 13,211 14,325 16,138 Net interest income excluding trading activities 333,547 327,188 332,070 323,321 312,028 Add: Tax-equivalent adjustment 2,719 2,610 2,555 2,565 2,574 Tax-equivalent net interest income excluding trading activities $ 336,266 $ 329,798 $ 334,625 $ 325,886 $ 314,602 Average interest-earning assets $ 48,776,712 $ 47,772,044 $ 46,590,610 $ 46,429,240 $ 46,984,071 Less: Average trading activities interest-earning assets 5,876,732 5,617,531 5,295,598 5,603,200 6,876,788 Average interest-earning assets excluding trading activities $ 42,899,980 $ 42,154,513 $ 41,295,012 $ 40,826,040 $ 40,107,283 Net interest margin on average interest-earning assets 2.91 % 2.90 % 2.98 % 2.91 % 2.80 % Net interest margin on average trading activities interest-earning assets 1.25 % 1.05 % 1.04 % 1.07 % 0.93 % Net interest margin on average interest-earning assets excluding trading activities 3.13 % 3.15 % 3.22 % 3.16 % 3.12 % Reconciliation of adjusted net income and earnings per share: Net income attributable to BOK Financial Corporation shareholders $ 176,539 $ 155,766 $ 177,301 $ 140,894 $ 140,018 Impact of FDIC special assessment benefit, net of tax — — (7,239) (923) (399) Gain on exchange of Visa shares, net of tax (23,604) — — — (2,340) Loss on repositioning of available-for-sale securities portfolio, net of tax 3,547 — — — — Gain on sale of merchant banking investment, net of tax — — (17,928) — — Adjusted net income $ 156,482 $ 155,766 $ 152,134 $ 139,971 $ 137,279 Earnings per share $ 2.92 $ 2.58 $ 2.89 $ 2.22 $ 2.19 Impact of FDIC special assessment benefit, net of tax — — (0.12) (0.01) (0.01) Gain on exchange of Visa shares, net of tax (0.39) — — — (0.04) Loss on repositioning of available-for-sale securities portfolio, net of tax 0.06 — — — — Gain on sale of merchant banking investment, net of tax — — (0.29) — — Adjusted earnings per share $ 2.59 $ 2.58 $ 2.48 $ 2.21 $ 2.14 - 37 - Explanation of Non-GAAP Measures The tangible common equity ratio and return on average tangible common equity are primarily based on total shareholders' equity, which includes unrealized gains and losses on AFS securities, less intangible assets and equity that do not benefit common shareholders. These measures are valuable indicators of a financial institution's capital strength since they eliminate intangible assets from shareholders' equity and retain the effect of unrealized losses on securities and other components of accumulated other comprehensive income in shareholders' equity. The efficiency ratio and adjusted efficiency ratio measure the company's ability to use its assets and manage its liabilities effectively in the current period. Pre-provision net revenue is a measure of revenue less expenses and is calculated before provision for credit losses and income tax expense. This financial measure is frequently used by investors and analysts and enables them to assess a company's ability to generate earnings to cover credit losses through a credit cycle. It also provides an additional basis for comparing the results of operations between periods by isolating the impact of the provision for credit losses, which can vary significantly between periods. Net interest income and net interest margin excluding trading activities removes the effect of trading activities on these metrics allowing management and investors to assess the performance of the company's core lending and deposit activities without the associated volatility from trading activities. We believe adjusting net income and earnings per share for notable non-core items enhances comparability of results with prior periods, demonstrates the impact of significant items, and provides a useful measure for determining the company's expenses that are core to our business operations and are expected to recur over time. Market Risk Market risk is a broad term for the risk of economic loss due to adverse changes in the fair value of a financial instrument. These changes may be the result of various factors, including interest rates, foreign exchange rates, commodity prices, or equity prices. Financial instruments that are subject to market risk can be classified either as held for trading or held for purposes other than trading. Market risk excludes changes in fair value due to the credit of the individual issuers of financial instruments. BOK Financial is subject to market risk primarily through the effect of changes in interest rates on both its assets held for purposes other than trading and trading assets. The effects of other changes, such as foreign exchange rates, commodity prices, or equity prices do not pose significant market risk to BOK Financial. BOK Financial has no material investments in assets that are affected by changes in foreign exchange rates or equity prices. Energy and other commodity product derivative contracts, which are affected by changes in commodity prices, are matched against offsetting contracts as previously discussed. The Asset/Liability Committee is responsible for managing market risk in accordance with policy limits established by the Board of Directors. The Committee monitors projected variations in net interest income, net income, and economic value of equity due to specified changes in interest rates. These limits also set maximum levels for short-term borrowings, short-term assets, public funds, and brokered deposits and establish minimum levels for unpledged assets, among other things. Further, the Board has approved market risk limits for fixed income trading, mortgage pipeline, and mortgage servicing assets inclusive of economic hedge benefits. Exposure is measured daily and compliance is reviewed monthly. Deviations from the Board approved limits, which periodically occur throughout the reporting period, may require management to develop and execute plans to reduce exposure. These plans are subject to escalation to and approval by the Board. The simulations used to manage market risk are based on numerous assumptions regarding the effects of changes in interest rates on the timing and extent of repricing characteristics, future cash flows, and customer behavior. These assumptions are inherently uncertain and, as a result, models cannot precisely estimate or precisely predict the impact of higher or lower interest rates. Actual results will differ from simulated results due to timing, magnitude and frequency of interest rate changes, market conditions, and management strategies, among other factors. - 38 - Interest Rate Risk – Other than Trading As previously noted in the Net Interest Income section of this report, management has implemented strategies to manage the Company's balance sheet exposure to changes in interest rates over a twelve-month period within established policy limits. The effectiveness of these strategies in managing the overall interest rate risk is evaluated through the use of an asset/liability model. BOK Financial performs a sensitivity analysis to identify more dynamic interest rate risk exposures, including embedded option positions, on net interest income. A simulation model is used to estimate the effect of changes in interest rates on our performance across multiple interest rate scenarios. Our current internal policy limit for net interest income variation due to a 200 basis point parallel change in market interest rates over twelve months is a maximum decline of 8.5%. Management also reviews alternative rate changes and time periods. The Company's primary interest rate exposures include the Federal Funds rate, which affects short-term borrowings, and the prime lending rate, SOFR, which is the basis for much of the variable rate loan pricing. Additionally, residential mortgage rates directly affect the prepayment speeds for residential mortgage-backed securities and MSR. Derivative financial instruments and other financial instruments used for purposes other than trading are included in this simulation. In addition, the impact on the level and composition of demand deposit accounts and other core deposit balances resulting from a significant increase in short-term market interest rates and the overall interest rate environment is likely to be material. The simulation incorporates assumptions regarding the effects of such changes based on a combination of historical analysis and expected behavior. The impact of planned growth and new business activities is factored into the simulation model. The interest rate sensitivity in Table 24 indicates management's estimation of the impact of rate changes on net interest income. Should deposit costs be 10% more sensitive to changes in rates, the variation in net interest income over the next twelve months would be 1.47%, or $22.1 million, for the 100 basis point decrease scenario. Alternatively, should deposit funding costs be 10% less sensitive to changes in rates, the variation in net interest income over the next twelve months would be 0.22%, or $3.3 million, for the 100 basis point decrease scenario. Additionally, in a flattening yield curve scenario where long-term rates increase by 100 basis points and short-term rates increase by 200 basis points, net interest income would decrease approximately 4.09%, or $61.3 million. Table 24 – Interest Rate Sensitivity (Dollars in thousands) June 30, 2026 Mar. 31, 2026 200 bp Increase 100 bp Increase 100 bp Decrease 200 bp Decrease 200 bp Increase 100 bp Increase 100 bp Decrease 200 bp Decrease Anticipated impact over the next twelve months on net interest income $ (30,900) $ (13,700) $ 12,700 $ 29,600 $ (27,600) $ (12,000) $ 11,200 $ 26,900 (2.06) % (0.91) % 0.85 % 1.97 % (1.86) % (0.81) % 0.76 % 1.81 % Anticipated impact over months twelve through twenty-four on net interest income $ (7,000) $ 5,100 $ (10,500) $ (16,800) $ (2,500) $ 7,400 $ (11,900) $ (17,700) (0.44) % 0.32 % (0.66) % (1.05) % (0.16) % 0.46 % (0.74) % (1.11) % BOK Financial is also subjected to market risk through changes in the fair value of MSR. Changes in the fair value of MSR are highly dependent on changes in primary mortgage rates offered to borrowers, intermediate-term interest rates that affect the value of custodial funds, and assumptions about servicing revenues, servicing costs, and discount rates. As primary mortgage rates increase, prepayment speeds slow and the value of our MSR increases. As primary mortgage rates fall, prepayment speeds increase and the value of our MSR decreases. We maintain a portfolio of financial instruments which may include debt securities issued by the U.S. government or its agencies and interest rate derivative contracts, held as an economic hedge of the changes in the fair value of our MSR. Composition of this portfolio will change based on our assessment of market risk. Changes in the fair value of residential mortgage-backed securities are highly dependent on changes in secondary mortgage rates required by investors, and interest rate derivative contracts are highly dependent on changes in other market interest rates. While primary and secondary mortgage rates generally move in the same direction, the spread between them may widen and narrow due to market conditions and government intervention. Changes in the forward-looking spread between the primary and secondary rates can cause significant earnings volatility. Management performs a stress test to measure market risk due to changes in interest rates inherent in its MSR portfolio and hedges. The stress test shocks applicable interest rates up and down 50 basis points and calculates an estimated change in fair - 39 - value, net of economic hedging activity, that may result. The Board has approved a $20 million market risk limit for MSR, net of economic hedges. Table 25 – MSR Asset and Hedge Sensitivity Analysis (In thousands) June 30, 2026 Mar. 31, 2026 Up 50 bp Down 50 bp Up 50 bp Down 50 bp MSR Asset $ 10,471 $ (13,875) $ 11,780 $ (15,136) MSR Hedge (11,619) 11,703 (13,444) 13,607 Net Exposure $ (1,148) $ (2,172) $ (1,664) $ (1,529) Trading Activities The Company bears market risk by originating RMHFS. RMHFS are generally outstanding for 60 to 90 days, which represents the typical period from commitment to originate a loan to sale of the closed loan to an investor. Primary mortgage interest rate changes during this period affect the value of RMHFS commitments and loans. We use forward sale contracts to mitigate market risk on all closed mortgage loans held for sale and on an estimate of mortgage loan commitments that are expected to result in closed loans. A variety of methods are used to monitor market risk of mortgage origination activities. These methods include daily marking of all positions to market value, independent verification of inventory pricing, and revenue sensitivity limits. Management performs a stress test to measure market risk due to changes in interest rates inherent in the mortgage production pipeline. The stress test shocks applicable interest rates up and down 50 basis points and calculates an estimated change in fair value, net of economic hedging activity, that may result. The Board has approved a $3 million market risk limit for the mortgage production pipeline, net of forward sale contracts. Table 26 – Mortgage Pipeline Sensitivity Analysis (In thousands) Three Months Ended Six Months Ended June 30, 2026 Mar. 31, 2026 June 30, 2026 June 30, 2025 Up 50 bp Down 50 bp Up 50 bp Down 50 bp Up 50 bp Down 50 bp Up 50 bp Down 50 bp Average1 $ (167) $ (160) $ (229) $ (232) $ (198) $ (196) $ (145) $ (64) Low2 (97) (93) (106) (141) (97) (93) (37) 46 High3 (296) (224) (451) (404) (451) (404) (242) (161) Period End (296) (93) (164) (170) (296) (93) (94) (38) 1 Average represents the simple average of each daily value observed during the reporting period. 2 Low represents least risk of loss in fair value measured as the smallest negative value or the largest positive value observed daily during the reporting period. 3 High represents the greatest risk of loss in fair value measured as the largest negative value or the smallest positive value observed daily during the reporting period. BOK Financial enters into trading activities both as an intermediary for customers and for its own account. As an intermediary, we take positions in securities, generally residential mortgage-backed securities, government agency securities, and municipal bonds. These securities are purchased for resale to customers, which include individuals, corporations, foundations, and financial institutions. On a limited basis, we may also take trading positions in U.S. Treasury securities, residential mortgage-backed securities, and municipal bonds to enhance returns on securities portfolios. Both of these activities involve interest rate risk, liquidity risk, and price risk. BOK Financial has an insignificant exposure to foreign exchange risk and does not take positions in commodity derivatives. A variety of methods are used to monitor and manage the market risk of trading activities. These methods include daily marking of all positions to market value, independent verification of inventory pricing, and position limits for each trading activity. Risk management tools include VaR, stress testing, and sensitivity analysis. Economic hedges in either the futures or cash markets may be used to reduce the risk associated with some trading programs. Basis risk can result when trading asset values and the instruments used to hedge them move at different rates. - 40 - VaR measures the potential loss of a given position or portfolio of positions at a specified confidence level and time horizon. BOK Financial utilizes a historical VaR methodology to measure and aggregate risks across its covered trading positions. For Market Risk Rule purposes, the Company calculates VaR using a historical simulation approach and measures the potential trading losses using a 10-day holding period and a 99% confidence level. Due to inherent limitations of the VaR methodology, including its reliance on past market behavior, which might not be indicative of future market performance, VaR is only one of several tools used to measure and manage market risk. Other tools used to actively manage market risk include stress testing (SVaR) and sensitivity analysis. SVaR is calculated using the same internal models as used for the VaR-based measure. SVaR is calculated over a ten-day holding period at a one-tail, 99% confidence level, and employs a historical simulation approach based on a continuous twelve-month historical window selected to reflect a period of significant financial stress for the Company's trading portfolio. The trading portfolio's VaR and SVaR profiles are influenced by a variety of factors, including the size and composition of the portfolio, market volatility, and the correlation between different positions. A portfolio of trading positions is typically less risky than the sum of the risk from each of the individual sub-portfolios because, under normal market conditions, risk within each category partially offsets the exposure to other risk categories. Table 27 below summarizes certain VaR and SVaR based measures for the three months ended June 30, 2026, March 31, 2026, June 30, 2025, and March 31, 2025. Table 27 – VaR and SVaR Measures (In thousands) Three Months Ended June 30, 2026 Mar. 31, 2026 June 30, 2025 Mar. 31, 2025 10 day 99% VaR 10 day 99% SVaR 10 day 99% VaR 10 day 99% SVaR 10 day 99% VaR 10 day 99% SVaR 10 day 99% VaR 10 day 99% SVaR Average1 $ 4,823 $ 7,424 $ 3,876 $ 7,353 $ 1,897 $ 7,046 $ 3,370 $ 13,231 Low 2,653 5,079 1,666 5,056 1,077 4,002 1,529 5,711 High 6,723 10,497 5,640 11,100 4,697 12,874 6,272 20,652 Period End 4,503 6,766 2,647 6,514 1,736 6,158 2,831 10,768 1 Average represents the simple average of each daily value observed during the reporting period. The Company monitors the accuracy of internal VaR models and modeling processes by back-testing model performance. The Company updates historical data used by the VaR model on a regular basis, and model validators independent of business lines perform regular validations to assess model input, processing and reporting components. These models are required to be independently validated and approved prior to implementation. Limit Structure Beyond VaR and SVaR described above, Management also performs a sensitivity analysis to measure market risk from changes in interest rates on its trading portfolio. Applicable interest rates are shocked up and down 50 basis points, calculating an estimated change in fair value, net of economic hedging activity that may result. The Board has approved a $14 million interest rate risk limit for the trading portfolio, net of economic hedges. Table 28 – Trading Sensitivity Analysis (In thousands) Three Months Ended Six Months Ended June 30, 2026 Mar. 31, 2026 June 30, 2026 June 30, 2025 Up 50 bp Down 50 bp Up 50 bp Down 50 bp Up 50 bp Down 50 bp Up 50 bp Down 50 bp Average1 $ (4,341) $ 5,782 $ (2,872) $ 6,453 $ (3,618) $ 6,106 $ (782) $ 4,182 Low2 2,852 10,255 2,690 11,992 2,852 11,992 3,602 10,934 High3 (8,126) (186) (6,644) 87 (8,126) (186) (7,841) (379) Period End (5,777) 8,538 (69) 1,665 (5,777) 8,538 2,982 1,616 1 Average represents the simple average of each daily value observed during the reporting period. 2 Low represents least risk of loss in fair value measured as the smallest negative value or the largest positive value observed daily during the reporting period. 3 High represents the greatest risk of loss in fair value measured as the largest negative value or the smallest positive value observed daily during the reporting period. - 41 - Model Risk Management BOK Financial maintains an independent Model Risk Management program to validate models are conceptually sound, computationally accurate, are performing as expected, and are in line with their intended use. Model Risk Management also enforces the Company's model risk governance program that defines roles and responsibilities, including the authority to levy findings requiring remediation and to restrict model usage. Model Validation Model Risk Management maintains independence from both the developers and users of the models. Model validations assess the data, theory, implementation, outcomes, and governance of each model and corresponding scenario. Each model receives a model risk assessment, which determines the frequency and scope of validation activities. Validations comprise an evaluation of model performance as well as a model's potential limitations given its particular assumptions or weaknesses. Based on the results of the review, Model Risk Management determines whether the use case for the model is appropriate. The ultimate validation results may require remediation actions from the business line. Model validation results are communicated with one of the following three outcomes: "Approved for use," "Provisional approval," or "Rejected."