Bok Financial (BOKF) risk factors, FY2025 10-K

Bok Financial's FY2025 10-K, filed Feb 18, 2026, lists 24 risk factors. Against the prior year's 24: 6 substantially reworded.

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Risk factors listed
241 groups
New this year
0vs 24 last year
Dropped
0since the prior 10-K
Substantially reworded
6of those kept
Section length
6k wordsItem 1A

What the changes say

  • Technology talent competition is now emphasized as a constraint on digital, automation, data, and cybersecurity initiatives.
  • AI disclosure shifts toward governance and definitions, while the prior legal, regulatory, bias, and compliance risks are omitted.
  • Deposit risk now highlights rising retention and servicing costs; regional exposure changes slightly to 33% Texas and 11% Colorado loans.

What changed since the prior 10-K

Reworded

  • 88% rewrittenRisks Related to an Investment in Our Stock

    Our business may be adversely affected if we are unable to hire and retain qualified employees

    Replaces remote-work and geography-driven hiring competition with rising demand for technology professionals supporting digital, data, automation, and cybersecurity initiatives.

  • 46% rewritten

    The development and use of emerging technologies like artificial intelligence, machine learning, and generative artificial intelligence presents risks and challenges that may adversely impact our business

    Adds AI definitions and board oversight disclosures, but removes prior discussion of flawed or biased data, evolving laws, intellectual property, privacy, and compliance costs.

  • 43% rewritten

    A downgrade in our credit ratings may increase our funding costs and limit our business activities

    Only clarifies the entity name and punctuation; the credit-rating, funding-cost, investor, counterparty, and deposit effects remain substantively unchanged.

  • 26% rewrittenRisks Related to an Investment in Our Stock

    Adverse global economic factors could have a negative effect on BOK Financial customers and counterparties

    Replaces named Russia-Ukraine and Israel-Hamas effects with Iran and Venezuela as examples of geopolitical oil-market shocks, and removes specific inflation cost impacts.

  • 23% rewritten

    Loss of deposits or a change in deposit mix could increase BOK Financial’s funding costs

    Adds that reduced deposit supply or stronger competition could substantially increase deposit retention and servicing costs, while removing references to 2023 bank failures and market disruption.

  • 21% rewritten

    Adverse regional economic developments could negatively affect BOK Financial's business

    Updates exposure figures at December 31, 2025: Texas rose from 32% to 33%, Colorado fell from 12% to 11%, and Oklahoma stayed 15%.

All 24 risk factors

Headings as the filing states them, in filing order.

Other

  1. 01Adverse factors could impact BOK Financial's ability to implement its operating strategy
  2. 02Substantial competition could adversely affect BOK Financial
  3. 03Government regulations and political environment could adversely affect BOK Financial
  4. 04The effects of climate change and resulting government regulations could adversely affect BOK Financial and BOK Financial customers
  5. 05Adverse regional economic developments could negatively affect BOK Financial's business21% rewritten
  6. 06Extended oil and gas commodity price downturns could negatively affect BOK Financial customers
  7. 07Other adverse economic factors affecting particular industries, including commercial real estate and healthcare, could have a negative effect on BOK Financial customers and their ability to make payments to BOK Financial
  8. 08Fluctuations in interest rates could adversely affect BOK Financial's business
  9. 09Changes in mortgage interest rates could adversely affect mortgage banking operations and mortgage servicing rights, as well as BOK Financial's substantial holdings of residential mortgage-backed securities and brokerage and trading revenue
  10. 10Models may fail to reasonably predict changes in values caused by changes in interest rates, prepayment speeds, and other relevant stimuli, which could adversely affect our business or results of operations
  11. 11Market disruptions could impact BOK Financial's funding sources
  12. 12Loss of deposits or a change in deposit mix could increase BOK Financial’s funding costs23% rewritten
  13. 13A downgrade in our credit ratings may increase our funding costs and limit our business activities43% rewritten
  14. 14Dependence on technology increases cybersecurity, data privacy, and technology failure risk
  15. 15The development and use of emerging technologies like artificial intelligence, machine learning, and generative artificial intelligence presents risks and challenges that may adversely impact our business46% rewritten
  16. 16We depend on third parties for critical components of our infrastructure
  17. 17We may be adversely affected and experience losses related to fraud or theft

Risks Related to an Investment in Our Stock

  1. 18Although publicly traded, BOK Financial's common stock has substantially less liquidity than the average trading market for a stock quoted on the NASDAQ National Market System
  2. 19BOK Financial's principal shareholder controls a majority of BOK Financial's common stock
  3. 20Possible future sales of shares by BOK Financial's principal shareholder could adversely affect the market price of BOK Financial's common stock
  4. 21Statutory restrictions on subsidiary dividends and other distributions and debts of BOK Financial's subsidiaries could limit amounts BOK Financial's subsidiaries may pay to BOK Financial
  5. 22Our business may be adversely affected if we are unable to hire and retain qualified employees88% rewritten
  6. 23Adverse global economic factors could have a negative effect on BOK Financial customers and counterparties26% rewritten
  7. 24Our business, financial condition, liquidity, and results of operations could be adversely affected by a health pandemic or other health crisis

Other Bok Financial 10-Ks

  • FY2024 10-K risk factors
    24 risks

    Regional loan exposure is heavily concentrated in Texas at 32%, Oklahoma at 15%, and Colorado.

    Filed Feb 19, 2025

About this page

The headings are the filing's own. The one-line readings and the overview are automated and can be wrong: read Item 1A of the 10-K for the exact wording.