Based in Tulsa, Oklahoma,^[1] BOK Financial (NASDAQ: BOKF) is a regionally-focused bank holding company.^[2] Its cash deposit market share of 10.68% in Oklahoma was greater than any other bank's deposit market share but was surpassed by Midland Financial in 2009.^[3] BOK Financial has over $33 billion in assets under management and generates revenue from both loan interest and (unlike many regional banks) fees and commissions. In fact, 34.4% of its $1.4 billion total revenue in 2009 came from fees and commissions.^[4] BOK's strategy for growth includes building on its already strong presence in Oklahoma and expanding into surrounding high-growth metropolitan areas -- over half of BOK's loans already come from markets outside of Oklahoma.^[1] BOK Financial's largest clients are members of the energy industry and represent 33.7% of their commercial loan portfolio.^[4]

The company has distinguished itself throughout the 2008 economic crisis by its lack of direct exposure to Fannie Mae, Freddie Mac, and the sort of mortgage-related securities that caused the crisis.^[5] The company was exposed to the now bankrupt SemGroup LP and Lehman Brothers and suffered a net loss of $1.2 million in 2008 Quarter 3 as a result of their loan and derivative credit exposure with these companies.^[6]. BOKF later revalued their SemGroup assets more favorably.^[7] BOKF was able to decline TARP funds from the United States government in November 2008 because of its relatively well-capitalized position.^[8]

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