Regional Banks Post Double-Digit 2Q Leaps

BOK Financial Corp., the Tulsa-based parent company of Bank of Arkansas N.A., was one of four regional banks with Northwest Arkansas interests that recently posted double-digit increases for second quarter earnings.

BOK — which has offices in Fayetteville, Bentonville and Rogers (see chart branches and headquarters) — continued growth in revenue from fees and commissions and higher net interest revenue in its July 17 filing. That, it said, led to an 18 percent increase in second quarter net earnings — the least largest jump of all four banks.

BOK’s $34.1 million second quarter earnings, up from $29 million a year ago, translated to 57 cents per share compared with 49 cents in 2001’s comparable period. Here’s how the others fared:

• Simmons First National Corp. posted record quarterly earnings July 18 of $5.7 million, or 79 cents a share for the second quarter. These earnings reflect a 27.2 percent increase in net income and 25.4 percent increase in earnings per share over the previous year. Earnings for the six months ended June 30 were $10.6 million or $1.48 a share.

• Superior Financial Corp. posted second-quarter earnings of $3.9 million or 44 cents a share — a 33 percent increase over the 33 cents a share for the same period last year, as restated. For the six months ended June 30, Superior had earnings of $7.7 million or 87 cents a share, a 34 percent increase over the 65 cents a share reported for the same period in 2001, as restated. As of June 30, total assets are $1.7 billion.

• Regions Financial Corp. rang up $153.1 million or 67 cents a share in net income for the second quarter, a 37 percent increase on a per-share basis, compared to net income of $112.8 million or 49 cents a share for the same period in 2001. Regions also declared a cash dividend of 29 cents a share, payable Oct. 1 to shareholders of record as of Sept. 13.