BRIEF: BOK earnings exceed estimates by analysts

Thu. October 29, 2009; Posted: 03:36 AM

TULSA, Oct 29, 2009 (The Oklahoman - McClatchy-Tribune Information Services via COMTEX) -- BOKF | Quote | Chart | News | PowerRating -- BOK Financial Corp., parent of Bank of Oklahoma, booked a $50.7 million profit in the third quarter, compared to net income of $56.7 million in the same period last year.

Meanwhile, BOK's third-quarter earnings of 75 cents per share topped analysts' consensus estimates by 7 cents.

Chief Financial Officer Steven Nell noted that half of BOK's like-sized peers lost money during the most recent quarter.

"We've generated over $50 million in every quarter this year in what has been a tougher banking environment," Nell said. "Continuing to be very profitable at that level is an accomplishment."

Net interest growth and wider margins helped boost earnings, he said. However, the bank continues to deal with growing levels of problem loans.

"I still think we're in the middle of this recessionary period, and we're not immune to that," he said. BOK shares were unchanged after Wednesday's earnings report, closing at $45.15.

BOK Financial Corp. saw its third-quarter net income drop 10.6 percent from the same time a year ago, the company reported Wednesday.

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For full details on Bok Financial Corp (BOKF) click here. Bok Financial Corp (BOKF) has Short Term PowerRatings of 8. Details on Bok Financial Corp (BOKF) Short Term PowerRatings is available at This Link.

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