- Key insight: BOK's new mortgage-finance unit is gaining traction, and its portfolio could reach $1 billion in commitments by year-end.
- Expert quote: "I think the setup for 2026 is probably as good as I can remember, both from a company-performance perspective and from an economic-backdrop perspective." — BOK Financial President and CEO Stacy Kymes
- Supporting data: BOK is forecasting loan growth this year in the high-single-digit range.
BOK Financial entered the new year with the wind at its back, thanks in part to growing contributions from a business the 116-year-old company entered only eight months ago, according to President and CEO Stacy Kymes.
"I think the setup for 2026 is probably as good as I can remember, both from a company-performance perspective and from an economic-backdrop perspective," Kymes told American Banker.
"There's a lot of tailwind right now," Kymes added. "Commercial, corporate borrower sentiment about the economy is very strong. That's good for us, good for banks."
The $52.2 billion-asset BOK is projecting full-year 2026 loan growth in the high single digits, compared with 6.4% for 2025. The increase will be broad-based — including a growing contribution from mortgage warehouse lending — Kymes said.
Founded in 1910 as Exchange National Bank in Tulsa, Oklahoma, BOK only broke into mortgage warehouse lending in May 2025. The mortgage-finance unit, led by industry veteran Donnie Martin, could "easily" reach $1 billion in commitments by the end of 2026, Kymes said last week on a conference call with analysts.
"The momentum that the sales team has is very, very strong. And we're just exceptionally pleased with how that business is progressing for us," Kymes said on the call.
The unit, which provides loans to nonbank mortgage lenders, finished 2025 with roughly $300 million in outstandings, Kymes told American Banker. In baseball parlance, a solid single in 2025 could mushroom into extra bases this year.
"I do think mortgage finance will be a big driver in 2026 and 2027," Kymes said in the interview. "I'm very excited about that."
BOK's entry into mortgage-warehouse lending follows decisions by Fifth Third Bancorp and
Today, though, there appear to be strong opportunities for banks that are serving the niche. Earlier this month, First Horizon Corp. in Memphis, Tennessee,
Before BOK got into mortgage-warehouse lending, it was active in mortgage origination and trading, so deepening its involvement in the sector wasn't that much of a stretch. Kymes argues the home loan industry's long-term returns remain attractive despite volatility, narrow margins and tough competition from nonbank lenders.
"We look at things over a long period of time," Kymes said. "If you think about it that way, it's been a great business for us."
Solid fourth-quarter numbers
BOK reported fourth-quarter net income of $177.3 million, up 30% from the same period last year. Jefferies analyst David Chiaverini attributed the increased earnings and positive 2026 loan-growth outlook in large part to the new mortgage business.
"Loan growth for 2026 was guided to the upper-single digits, compared to our prior forecast of 7%, supported by broad‑based momentum across the existing portfolio, complemented by the expansion of the newer mortgage finance business," Chiaverini wrote in a research report.
Asset quality remained strong, with net chargeoffs totaling $1.4 million, or 0.02% of BOK's average loans, for the three months ending Dec. 31.
"We tell people we're kind of a growth company set on a foundation of risk management," Kymes said. "That's been really important for our longevity and our sustainability."
While BOK has deep roots in energy lending, which has long been a key part of the Oklahoma economy, the addition of mortgage warehouse lending continues a long-term diversification effort. Today, the energy sector comprises about 11% of BOK's $25.7 billion-asset loan portfolio.
"We're proud of our energy roots," the CEO said. "Over a long period of time, we've become a much more diversified company."
