Bank of Oklahoma
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.
Best Bank(S) All BOK Brands And Locations
I worked for BOK, so I know the folks working there are trained to provide THE BEST to their customers. I trust their systems, they have in-house development that are highly educated and highly reliable. Their development and IT Department work hand in hand with the entire company to ensure everyone is on the same page, the applications work completely as designed and their goal is to treat each employee and each customer the very best as possible. I miss working there. My kids bank there and love it. I have several other family members who bank there too and they have never had one single complaint. Deposits and transactions are lightening fast and 100% perfectly accurate. Call them on the phone, they are so helpful and if they didn't know any single answer to my question(s) they will immediately call and connect with someone who can assist. I like all of their branded branches in other surrounding states. I've visited many states and used my card in those participating states - no problem being out of state - they handle your accounts as if you're right in the original bank. And, they have alot of checks and balances set in motion that ensures basically no mistakes on their part. If you have money, it is available. If you need money, they'll loan it to you. I like their lobby's and their ATM's seem like the best ones around. Plus they have locations all over the place and in places you might not realize!
Worse Than The Thief
My autistic daughter was recently a victim of a check scammer. The thief gain her confidence and got her to deposit a check with the hope of receiving more money. She became suspicious and alerted the BANK OF OKLAHOMA. The fraud was discovered and neither the bank nor my autistic daughter lost any money. Regardless, the BANK OF OKLAHOMA closed her account and will no longer allow her to bank with them. She was very hurt.
BANK OF OKLAHOMA VICTIMIZED MY DAUGHTER A SECOND TIME. SHAME ON BANK OF OKLAHOMA.
I Don't Recommend Opening Any Kind Of Account With Bank Of Oklahoma
I don't recommend the app or opening a bank account with Bank Of Oklahoma. They will hold your funds for over a week on your first deposit, so if you have bills to pay be prepaid to behind or evicted because they will not lift the hold for any reason. They do not care about their customers. I recommend using something along the lines of Chime. For the first deposit I had instant access to the funds. Don't let their mobile check deposit and other advertised benefits fool you into their trap. I have been a law enforcement officer in the state of Oklahoma for 9 years. I proudly served and protected the citizens of a small town. Unfortunately being a small town I do not have access to direct deposit. I decided to try Bank Of Oklahoma and instantly regretted it. They flat out lied to me and told me they could have the hold releases on an earlier date and when I called again the hold period had increased. I don't do my job for the money but it puts a roof over my head that I could now possibly lose due to this Bank's ridiculous hold procedure that they claim is supposed to help me.
Data as of Q1 2024
Health Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 4214 |
| Year Established | 1910 |
| Employees | 4750 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.71% |
| Return on Equity - YTD | 7.4% |
| Annual Interest Income | $644.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2024vs Q1 2023 | $49.95B$45.27B |
| Loans | Q1 2024vs Q1 2023 | $23.92B$22.5B |
| Deposits | Q1 2024vs Q1 2023 | $35.67B$32.8B |
| Equity Capital | Q1 2024vs Q1 2023 | $4.82B$4.55B |
| Loan Loss Allowance | Q1 2024vs Q1 2023 | $281.6MM$249.5MM |
| Unbacked Noncurrent Loans | Q1 2024vs Q1 2023 | $109MM$104.6MM |
| Real Estate Owned | Q1 2024vs Q1 2023 | $2.9MM$12.7MM |
