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BOK Financial 2012 net income surges by 23% to $351.2m

BOK Financial has registered net income of $351.2m or $5.13 per diluted share for the year 2012, up by 23% from $285.9m or $4.17 during the same period earlier fiscal.

Commenting on the result, BOK Financial president and CEO Stan Lybarger said, "Non-interest revenue increased by $103 million or 20% over 2011, led by tremendous growth in mortgage banking revenue."

"In addition to mortgage banking revenue, brokerage and trading revenue was up nearly $23 million over the previous year, which more than offset the full year effect of regulatory limits on interchange fees," Lybarger added.

Ccommercial loan portfolio grew by $1.1 billion or 16% and deposits grew by $2.4 billion or 13% over 31 December 2011.

The Company’s Tier 1 capital ratio was 12.78% at 31 December 2012 and 13.21% at 30 September 2012.

A $28bn regional financial services company, BOK Financial manages BOKF, NA, BOSC, The Milestone Group, and Cavanal Hill Investment Management.