BOk Posts Lower Earnings

BOk Financial Corporation today reported earnings of $52.8 million or $0.78 per diluted share for the first quarter of 2007, compared with net income of $54.7 million or $0.81 per diluted share for the first quarter of 2006.

Net income for the first quarter of 2006 included $3.3 million or $0.05 per share from net appreciation in the value of mortgage servicing rights due to a significant increase in interest rates.

Quarterly highlights for the Tulsa-based company were a 19 percent in average outstanding loans, a 10 percent growth in net interest revenue ($11.5 million), a net interest margin of 3.32 percent (up from 3.25 percent in the Q4 of last year), and a $2.1 million in revenue generated by fees and commission.



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