Bok Financial Corp (BOKF) Tops Q1 EPS by 4c

Bok Financial Corp (NASDAQ: BOKF) reported Q1 EPS of $1.08, $0.04 better than the analyst estimate of $1.04.

Steven G. Bradshaw, president and chief executive officer, stated, "The year is off to an excellent start, with continued double-digit annualized loan growth and a record quarter from our fee-generating businesses, combined with careful expense controls. Our mortgage business posted its best quarter in two years with revenue up 31 percent sequentially, driven by increased refinancing activity in the current low-rate environment. Brokerage and trading and fiduciary and asset management were also up nicely on a sequential basis, and transaction processing posted a strong year-over-year revenue increase.

"We continue to see robust economic activity across our footprint despite the recent decrease in energy prices and reduction of drilling activity in Texas and Oklahoma. The Arizona market reached a new milestone with $1 billion in loans outstanding, and nearly all of our markets posted strong sequential growth. In addition, credit quality is holding up extremely well and our capital base is sound. We believe we are well-positioned to deliver a strong year in 2015, and reflecting this belief, during the first quarter we bought back more than 500,000 shares of our publicly-traded stock in the open market."

For earnings history and earnings-related data on Bok Financial Corp (BOKF) click here.

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