BOK Subsidiary Had Good Year, Too

Publicly traded BOK Financial Corp. of Tulsa, Okla., the parent of Bank of Arkansas N.A., recently announced it had record earnings of $100.1 million for 2000. It was the first time the $9.7 billion bank holding company surpassed the $100 million level.

Earnings per share grew 13 percent, from $1.60 to $1.80.

But locally, Bank of Arkansas also had a strong year. Jeff Dunn, the company’s president, said Bank of Arkansas’ loan volume increased 8 percent from 1999 to 2000.

“Our deposits were up 17 percent,” Dunn said. “Our net interest revenue grew 17 percent. Our operating revenue was up 22 percent. It was our best year ever.”

Bank of Arkansas has annual loan balances of about $140 million. Dunn said his company’s success comes from staying “niche-focused” on commercial customers and providing high-end products that are tailored for businesses.

James F. Ulrich, BOK’s vice president of mergers, acquisitions and investor relations, attributed the holding company’s 12 percent profit growth last year to hard-working divisions like Bank of Arkansas. BOK’s 2000 loans totaled $5.5 billion and included a 37 percent increase in commercial loans.

Bank of Arkansas operates branches at 3500 and 11 N. College in Fayetteville and 2000 W. Walnut in Rogers. Its holding company has additional banking interests in Oklahoma, New Mexico and Texas.