BOK Financial Corporation (NASDAQ:BOKF) Q4 2023 Earnings Conference Call January 24, 2024 10:00 AM ET
Company Participants
Martin Grunst - Chief Financial Officer
Stacy Kymes - Chief Executive Officer
Marc Maun - Executive Vice President, Regional Banking
Scott Grauer - Executive Vice President, Wealth Management
Conference Call Participants
Jon Arfstrom - RBC Capital Markets
Peter Winter - D.A. Davidson
Ben Gerlinger - Citi
Matt Olney - Stephens Inc.
Will Jones - KBW
Timur Braziler - Wells Fargo Securities
Brandon King - Truist Securities
Operator
Greetings. Welcome to BOK Financial Corporation Fourth Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.
I would now like to turn the presentation over to Martin Grunst, Chief Financial Officer for BOK Financial Corporation. Please proceed.
Martin Grunst
Good morning, and thank you for joining us to discuss BOK Financial's fourth quarter financial results.
Our CEO, Stacy Kymes, will provide opening comments; Marc Maun, Executive Vice President for Regional Banking, will cover our loan portfolio and related credit metrics; and Scott Grauer, Executive Vice President of Wealth Management, will cover our fee-based results. I will then discuss financial performance for the quarter and our forward guidance.
PDFs of the slide presentation and fourth quarter press release are available on our website at bokf.com. We refer you to the disclaimers on Slide 2 regarding any forward-looking statements we make during this call.
I'll now turn the call over to Stacy Kymes.
Stacy Kymes
Thank you, Marty, and good morning everyone.
Beginning on Slide 4, we reported net income of $82.6 million or $1.26 per diluted share for the fourth quarter, which includes a $0.52 per share impact from the FDIC special assessment.
I am exceptionally proud of the BOKF team and our results this year. Our focus at BOKF has always been on providing long-term shareholder value driven by our diverse business model and talented team, both of which empower us to perform well relative to our industry during any economic environment. This was once again proven when the industry faced stress in the first half of the year and our company was well prepared.
Our disciplined risk management, which extends beyond the credit risk management that has long been a strength, resulted in strong levels of capital and liquidity at an important time. We took advantage of this position to thoughtfully grow when others are pulling back. We've made real investments in growing our core C&I, while also investing in people and new markets like Central Texas. While the fourth quarter was exceptionally noisy with numerous non-recurring items, our core results were very strong, resulting in a great starting point for 2024.