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!
Beautiful Relationship if You Are Middle Class or Above
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.
Not The Best Rates, But Great Customer Service.
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.
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.
Data as of Q1 2023
Health Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 4214 |
| Year Established | 1910 |
| Employees | 4561 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.39% |
| Return on Equity - YTD | 14.52% |
| Annual Interest Income | $516.0MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2023vs Q1 2022 | $45.27B$46.65B |
| Loans | Q1 2023vs Q1 2022 | $22.50B$20.54B |
| Deposits | Q1 2023vs Q1 2022 | $32.80B$39.73B |
| Equity Capital | Q1 2023vs Q1 2022 | $4.55B$4.48B |
| Loan Loss Allowance | Q1 2023vs Q1 2022 | $249.5MM$246.5MM |
| Unbacked Noncurrent Loans | Q1 2023vs Q1 2022 | $104.6MM$106.6MM |
| Real Estate Owned | Q1 2023vs Q1 2022 | $12.7MM$17.4MM |
