BOK Financial Corporation (NASDAQ:BOKF) Q4 2023 Earnings Call Transcript

Stacy Kymes: No. I think we’re talking about — our guidance is really around provision levels, not charge-off levels. I do think you could see just — based on some reversion, you could see charge-off levels come up a little bit in the back half of the year. But Marc talked a little bit about our historical charge-offs. We always guide to 30 basis points to 40 basis points, but it’s been a long time since we’ve seen 40 basis points.

Marc Maun: Yeah. I mean if we’ve been looking back over our history, we have been below 30 basis points of net charge-offs since 2013. It was the last year we hit 30 basis points. So, we have operated mainly between less than 10 basis points to 20 basis points for the last 10 to 11 years. So, right now, given where our credit is, we don’t see the increased level of net charge-offs coming. But as we grow and as the economic environment changes, that will have the impact on the provision that we have to have and the reserve we have to have. And we’re going to keep — make sure we continue to make that appropriate level of that reserve reflecting those two things. But it’s going to be driven by those more than it’s going to be driven by net charge-offs.

Brandon King: Okay. Very helpful. Thanks for the details.

Operator: We have reached the end of our question-and-answer session. I would like to turn the conference back over to Marty for closing remarks.

Martin Grunst: Thanks again, everyone, for joining us this morning. If you have any questions, please e-mail us at ir@bokf.com. Have a great day.

Operator: Thank you. This will conclude today’s conference. You may disconnect your lines at this time, and thank you for your participation.