Loans: the good, the bad and non-performing
The state’s largest banking company, BOK Financial Corp., issued a good earnings report this week. But buried within were some numbers that help illustrate the bright side of Oklahoma’s economy and the stark contrast with states that aren’t doing so well — such as Arizona. BOK operates Bank of Oklahoma and separate banks in six other states.
The company reported that its non-accruing loans totaled $353 million on June 30, or nearly 3 percent of all outstanding loans. A non-accruing loan is one that is months past due and no interest is being charged. In Arizona, 20 percent of the company’s loans are non-accruing. Less than 5 percent of BOK loans in Colorado and New Mexico were non-accrual. In Oklahoma and Texas — BOK’s largest markets — the rates were less than 2 percent.
Meanwhile, the picture was even worse when focused on commercial real estate loans. In Arizona, 38 percent of BOK’s commercial real estate loans were non-accruing, compared with 12 percent in Colorado, 6 percent in New Mexico and just 3 percent in Oklahoma.
Another sign that you’re doin’ fine, Oklahoma.
Don Mecoy
Business Writer
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