BOK Financial Reports Quarterly Earnings of $84 Million

BOK Financial Corp. reported first-quarter net income of $83.6 million, or $1.22 per diluted share, in a news release on Tuesday.

The net income is up 29 percent over the first quarter of 2011, when it was $64.8 million, or $0.94 per diluted share. Net incomes was $67 million, or $0.98 per diluted share, for the fourth quarter of 2011.

“The year has started with strong growth in revenues and loans,” president and CEO Stan Lybarger said in the release. “Net interest revenue and fees and commissions revenue combined were up 8 percent over the previous year. Outstanding commercial loan balances increased 15% over March 31, 2011.

“In addition, net loans charged off and nonperforming asset balances continue to decline. The company’s sustained performance and strong capital position allows us to increase our quarterly cash dividend. This is the seventh consecutive annual increase since we paid our first cash dividend in 2005.”

Bank of Arkansas joined the BOK Financial Corporation in 1995. The bank has offices in Fayetteville and Bentonville, and BOK Financial also has a presence in Little Rock.