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BOK Financial Repositions Securities Portfolio at $34 Million Loss

By Colin Kellaher


BOK Financial expects to book a $34 million loss on the repositioning of its available-for-sale securities portfolio.

The Tulsa, Okla., financial-services company on Tuesday said it sold about $783 million of debt securities with an average book yield of 2.45% at a loss of $34 million, adding that it reinvested the proceeds in securities at an estimated book yield of 5.25%.

BOK said it would post a first-quarter charge of $34 million, or 53 cents a share, on the sale.

BOK also said it plans to participate in a share-exchange offer recently announced by Visa that would let the company monetize up to half of its Visa Class B-1 share holdings and would generate a gain that would offset the loss from the portfolio repositioning.

BOK said it holds 252,233 Visa Class B-1 shares that are carried at a cost basis of $0 and are equivalent to 400,420 Visa common shares if converted.


Write to Colin Kellaher at


(END) Dow Jones Newswires

March 26, 2024 11:16 ET (15:16 GMT)

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