Bank of Oklahoma is a subsidiary of Bank of Oklahoma Financial, which is one of the largest holding companies in the United States as measured by assets. The bank offers personal and business banking products and services, as well as wealth management solutions for both individuals and institutions.
On its personal banking side, Bank of Oklahoma offers depository and lending products and services. All of its checking account options have monthly service fees unless certain conditions are met that would waive them. The bank’s senior citizen-focused checking account comes with an emergency medical CD option and a free safe deposit box. Bank of Oklahoma’s savings account offering requires a monthly electronic transfer of a low amount from a Bank of Oklahoma checking account or a minimum account balance in order to avoid a monthly service charge. This savings account is designed to encourage depositors to save, and the bank will even match a portion of a customers’ savings up to a certain amount. The bank’s money market account has a minimum balance requirement in order to avoid a service charge. The money market’s interest rates vary depending on the level of funds the account. CDs range in term lengths from 7 days to 7 years and IRA CDs range from 6 months to 7 years.
Bank of Oklahoma online banking provides access to 7 years worth of banking statements, Quicken financial management integration, fund transfers, and Bill Pay. Mobile banking apps released by the bank makes it easy to manage accounts from a smartphone or tablet device, and customers can transfer funds anytime and in any place. Bank of Oklahoma also manages a separate site dedicated to educating and keeping customers up-to-date with the latest banking news and tips.
Bank of Oklahoma was originally established in 1910 under the same name. It changed its name to BOKF, National Association in 2011, and is headquartered in Tulsa, Oklahoma. The bank serves its customers through numerous branches in multiple states nationwide.
I have been with Bank of Oklahoma for 10 years and I can not recall ever being disappointed with my service. Anytime I have ever called with a question they have been able to answer it completely as well as when I have been inside of the bank I feel like the tellers are always personable. On one occasion I was tired from work but while at the grocery I decided to deposit a check because my bank has an office inside. I remember the tellers being so nice to me. Even the one not helping me joined into the conversation and I left feeling much better about my day but a little embarrassed when I remembered I could have taken a picture with my mobile app instead of waiting in line but it ended up being worth it.
Recently there was an incident where someone had obtained my information. I received a phone call to confirm the withdraw. Of course, I declined because I was not in that city even though I had planned on going there that day. Everything was taken care of without me having to do anything besides answer a simple phone call and state that I wasn't the one accessing my account.
When we first got our account almost 5 years ago, I had some issues from my past that were still haunting me. My husband was able to get an account and add me to it but we had to pay a rather large fee for a while. I thought it was supposed to be a year but for some reason they kept arguing with us about how long it would take once the year was up. I went to a new location later and told my story to the teller, then a manager, finally they figured out that our history was looking great now and lifted the fee.
But, we should have had an overdraft limit and for some reason it NEVER worked. They kept telling us it was due to our credit and we believed that because of past issues with our finances. However, another year goes by and we're wondering why we can't even get $100 on overdraft, we've ran quite a bit of money through that account. So, again, I try to find somebody-anybody that will walk us through our situation and how to resolve it. Come to find out, it was an error on a code on our account. My husband was livid, almost enough to pull the account as he's threatened to do a lot during this whole mess. But I was reluctant. They offered us small loans in the past (though technically illegal). We were reimbursed from the shady loan practices. Also, the history alone. So we went to find a new location and eventually made friends with some of the tellers.
Ever since we became more stable account holders, they have treated us magnificently. I should hate them for (kind of) shaming us in the beginning. And because of that, I don't recommend them to those with less than stellar financial situations. But overall, I'm satisfied that the struggle was worth it in the end. We might even get to use them for a house loan sometime in the next 5 years.
I've had an account with BOk for 13 years now and have never had an issue with them. The branches are always adequately staffed, you can do most tasks online and they have 24/7 phone support that connects you to an actual person without long waits. The interest rates aren't great, but if you don't keep a large balance in your checking account, the trade-off is well worth it.
Beware of using this bank - there is a reason they had a class action lawsuit filed against them from many of their customers and which BOK SETTLED out of court. BOK AGREED to pay back $19 MILLION dollars in excessive overdraft fees they charged us customers - and they are still doing it!! Today, I closed my checking account with them after 21 years due to having to pay five $32.50 overdraft fees which all occured in a single day. They started the overdrawing of my account with the HIGHEST item to be paid. They are not dummies. They found a way to maximize profits in overdraft fees while ripping off customers who like me had been withthem over 20 years!! I asked them to help me and drop some of the charges and they said no becuase i had agreed to the written overdraft fee charge. Boy, what happened to helping out a customer who had years of loyalty?? Watch out for them - they are charging fees which many law experts are criminal - park your money elsewhere.
|FDIC Certificate #||4214|
|Return on Assets - YTD||1.34%|
|Return on Equity - YTD||13.82%|
|Annual Interest Income||$1.18B|
|Assets and Liabilities|
|Assets||Q4 2018vs Q4 2017||$34.10B$32.22B|
|Loans||Q4 2018vs Q4 2017||$18.64B$17.10B|
|Deposits||Q4 2018vs Q4 2017||$22.18B$22.32B|
|Equity Capital||Q4 2018vs Q4 2017||$3.25B$3.26B|
|Loan Loss Allowance||Q4 2018vs Q4 2017||$207.5MM$230.7MM|
|Unbacked Noncurrent Loans||Q4 2018vs Q4 2017||$143.7MM$179.3MM|
|Real Estate Owned||Q4 2018vs Q4 2017||$11.2MM$10.7MM|
Rates for Bank of Oklahoma are currently being reviewed.