BOK Financial Corporation
Encyclopedia
BOK Financial Corporation , based in Tulsa, Oklahoma
, is a financial services company in the West South Central States
region of the United States. The corporate headquarters is located in the BOK Tower
in downtown Tulsa. BOK Financial's holdings include BOKF, NA, BOSC, Inc, Cavanal Hill Investment Management and Southwest Trust Company. BOKF, NA operates seven banking divisions: Bank of Albuquerque, Bank of Arizona, Bank of Arkansas, Bank of Kansas City, Bank of Oklahoma, Bank of Texas, and Colorado State Bank and Trust. BOKF, NA has full-service banks located in eight states. BOSC, Inc., the broker/dealer subsidiary, provides brokerage services in 10 states.
BOKF has a market value of approximately $3.7 billion USD as June 21, 2011.
, who became the bank's president.
In 1917, Exchange National Bank of Tulsa began construction of a headquarters building in Tulsa at Third Street and Boston Avenue. In 1928, the bank constructed a 28-story tower adjacent to the initial building. The combined structure, since renamed the 320 South Boston Building
, remained the tallest building in Tulsa until 1967.
During the Great Depression
, several Tulsa oil men—including William G. Skelly and J.A. Chapman, pumped $18 million of their own wealth into the bank to keep it afloat. As a result, it was a major player in the early 1930s oil boom. In 1933, it was reorganized as the National Bank of Tulsa (NBT).
In 1975, NBT changed its name to Bank of Oklahoma (BOK). The following year, BOK began moving its headquarters employees into the new BOK Tower
.
receivership in 1990, and a year later was bought by Tulsa businessman George Kaiser
. At the time, it was a $2 billion bank with 20 branches in Oklahoma.
Under Kaiser's ownership, BOK began an aggressive expansion effort. BOK's expansion strategy is to locate in growing markets near Oklahoma. Currently BOK operates banks in 9 states including Oklahoma, New Mexico, Arizona, Arkansas, Texas, Colorado, Kansas, Missouri and Utah. In March 2007 BOK began banking operations in Salt Lake City.
Also in 2007 BOK continued their aggressive push in expanding market share in the Dallas-Fort Worth area. Currently the Bank of Texas is the 8th largest bank based in Texas with assets of 3.7 billion.
In 2005 BOK Financial acquired the naming rights for the BOK Center
, for a price of $11 million USD.
Tulsa, Oklahoma
Tulsa is the second-largest city in the state of Oklahoma and 46th-largest city in the United States. With a population of 391,906 as of the 2010 census, it is the principal municipality of the Tulsa Metropolitan Area, a region with 937,478 residents in the MSA and 988,454 in the CSA. Tulsa's...
, is a financial services company in the West South Central States
West South Central States
The West South Central States form one of the nine Census Bureau Divisions of the United States that are officially designated by the United States Census Bureau.Four states compose the division: Arkansas, Louisiana, Oklahoma, and Texas...
region of the United States. The corporate headquarters is located in the BOK Tower
BOK Tower
BOK Tower, formerly One Williams Center, is a skyscraper in downtown Tulsa, Oklahoma. At 203 m in height, the 52-story tower was the tallest building in any of the five "Plains States": Oklahoma, Kansas, Nebraska, North Dakota, and South Dakota, as well as the surrounding states of Missouri,...
in downtown Tulsa. BOK Financial's holdings include BOKF, NA, BOSC, Inc, Cavanal Hill Investment Management and Southwest Trust Company. BOKF, NA operates seven banking divisions: Bank of Albuquerque, Bank of Arizona, Bank of Arkansas, Bank of Kansas City, Bank of Oklahoma, Bank of Texas, and Colorado State Bank and Trust. BOKF, NA has full-service banks located in eight states. BOSC, Inc., the broker/dealer subsidiary, provides brokerage services in 10 states.
BOKF has a market value of approximately $3.7 billion USD as June 21, 2011.
Foundation
BOK traces its roots to the Exchange National Bank of Tulsa, which was formed in 1910 when four men bought the remains of the failed Farmers National Bank. One of the bank's major investors was Harry F. SinclairHarry F. Sinclair
Harry Ford Sinclair was an American oil industrialist.-Early life:Harry Sinclair was born in Benwood, West Virginia, now a suburb of the city of Wheeling. Sinclair grew up in Independence, Kansas. The son of a pharmacist, after finishing high school, he entered the pharmacy department of the...
, who became the bank's president.
In 1917, Exchange National Bank of Tulsa began construction of a headquarters building in Tulsa at Third Street and Boston Avenue. In 1928, the bank constructed a 28-story tower adjacent to the initial building. The combined structure, since renamed the 320 South Boston Building
320 South Boston Building
The 320 South Boston Building, formerly known as the National Bank of Tulsa Building, is a 22-story highrise building located in downtown Tulsa, Oklahoma. It was originally constructed at the corner of Third Street and Boston Avenue as a ten-story headquarters building for the Exchange National...
, remained the tallest building in Tulsa until 1967.
During the Great Depression
Great Depression
The Great Depression was a severe worldwide economic depression in the decade preceding World War II. The timing of the Great Depression varied across nations, but in most countries it started in about 1929 and lasted until the late 1930s or early 1940s...
, several Tulsa oil men—including William G. Skelly and J.A. Chapman, pumped $18 million of their own wealth into the bank to keep it afloat. As a result, it was a major player in the early 1930s oil boom. In 1933, it was reorganized as the National Bank of Tulsa (NBT).
In 1975, NBT changed its name to Bank of Oklahoma (BOK). The following year, BOK began moving its headquarters employees into the new BOK Tower
BOK Tower
BOK Tower, formerly One Williams Center, is a skyscraper in downtown Tulsa, Oklahoma. At 203 m in height, the 52-story tower was the tallest building in any of the five "Plains States": Oklahoma, Kansas, Nebraska, North Dakota, and South Dakota, as well as the surrounding states of Missouri,...
.
Expansion
Bank of Oklahoma was placed into Federal Deposit Insurance CorporationFederal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation is a United States government corporation created by the Glass–Steagall Act of 1933. It provides deposit insurance, which guarantees the safety of deposits in member banks, currently up to $250,000 per depositor per bank. , the FDIC insures deposits at...
receivership in 1990, and a year later was bought by Tulsa businessman George Kaiser
George Kaiser
George B. Kaiser is an American businessman. He is the Chairman of BOK Financial Corporation. He is among the top 100 richest people in the world and one of the top 50 American philanthropists.-Early life and career:...
. At the time, it was a $2 billion bank with 20 branches in Oklahoma.
Under Kaiser's ownership, BOK began an aggressive expansion effort. BOK's expansion strategy is to locate in growing markets near Oklahoma. Currently BOK operates banks in 9 states including Oklahoma, New Mexico, Arizona, Arkansas, Texas, Colorado, Kansas, Missouri and Utah. In March 2007 BOK began banking operations in Salt Lake City.
Also in 2007 BOK continued their aggressive push in expanding market share in the Dallas-Fort Worth area. Currently the Bank of Texas is the 8th largest bank based in Texas with assets of 3.7 billion.
Sponsorships
BOK Center
The BOK Center, or Bank of Oklahoma Center, is a 19,100-seat multi-purpose arena and a primary indoor sports and event venue in Tulsa, Oklahoma, United States. Designed to accommodate arena football, hockey, basketball, concerts, and similar events, the facility was built at a cost of $178 million...
, for a price of $11 million USD.