Bank of Albuquerque parent reports strong earnings

BOK Financial Corp., the Tulsa, Okla.-based parent company of Bank of Albuquerque, has reported an 18 percent increase in earnings for the first quarter of 2008 compared to the first quarter of 2007.

Net income totaled $62.3 million, or 92 cents per share, compared with $52.8 million, or 78 cents per share for the first quarter of 2007.

Highlights of the first quarter of 2008 included an improvement in net interest margin to 3.31 percent for the first quarter of 2008, up 9 basis points from the fourth quarter of 2007; a 12 percent increase in average outstanding loans over the first quarter of 2007; and a 24 percent increase in fees and commissions revenue over the year-ago quarter.

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"The Company benefitted from our strong balance sheet growth across our markets and from our diversified mix of fee revenue," said President and CEO Stan Lybarger. "Combined with a modest increase in net interest margin and controlled expense growth, we enjoyed a strong start to 2008."

BOK Financial (NASDAQ:BOKF) is a regional financial services company that provides commercial and consumer banking, investment and trust services, mortgage origination and servicing, and an electronic funds transfer network. Holdings include Bank of Albuquerque, Bank of Arizona, Bank of Arkansas, Bank of Oklahoma, Bank of Texas, Colorado State Bank & Trust, Bank of Kansas City, BOSC Inc., the TransFund electronic funds network, and Southwest Trust Company.