Investment Thesis
BOK Financial Corporation (BOKF) is a $46 billion in assets regional bank with branches in Oklahoma, Texas, New Mexico, Colorado, Arizona, Kansas and Arkansas. Relative to more retail centric community banks, BOKF primarily targets middle market corporations and small businesses. George Kaiser, an oil-magnate and billionaire own about 54% of the company. This allows BOKF management to have a longer-term strategic perspective focusing on cash on cash returns rather than quarterly earnings. From Kaiser’s guidance, BOKF is also widely known as one of the better energy production lenders in the country.