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BOKF - BOK Financial: Provision Expense Risk Remains
BOK Financial Corporation
Earnings of BOK Financial (BOKF) plunged 44% quarter over quarter in the first quarter to $0.88 per share due to a surge in provision expense. I’m expecting provision expense to be high again in the second quarter before normalizing in the second half of the year. In my opinion, the economic scenarios the management considered to determine the reserves for loan losses were not stressed enough; therefore, I believe BOKF will need to adjust its reserves upwards in the second quarter. Apart from an increase in the provision expense, I’m expecting further compression