secwatch.observer — SEC 8-K summary
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Issuer:     BOK FINANCIAL CORP (BOKF)
CIK:        0000875357
Form:       8-K
Filed at:   2024-03-26T23:59:59+00:00
Accession:  0000875357-24-000017
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

BOK Financial sells $783M low-yield securities, takes $34M after-tax loss; participates in Visa exchange offer
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- Sold $783M of AFS debt securities (2.45% avg yield) for pre-tax loss of $45M; after-tax loss $34M in Q1 2024.
- Net earnings charge of ~$34M ($0.53 per diluted share) from repositioning; proceeds reinvested at estimated 5.25% yield.
- Holds 252,233 Visa Class B-1 shares (cost $0), convertible to 400,420 Visa common; up to 50% eligible for exchange.
- Expects gain on Visa exchange to offset realized losses; timing of exchange offer is unknown.
- No guidance changes; strategic repositioning aimed at improving portfolio yield.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/875357/000087535724000017/0000875357-24-000017-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/875357/000087535724000017/bokf-20240326.htm
  HTML page:      https://secwatch.observer/filing/0000875357-24-000017

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