BOK Financial Corporation (NASDAQ:BOKF) $BOKF

BOK Financial Corporation (NASDAQ:BOKF) is an Oklahoma-based financial holding company controlled by billionaire George Kaiser offering full service banking in Oklahoma, Texas, New Mexico, Northwest Arkansas, Colorado, Arizona and Kansas/Missouri. BOK Financial is very different from most banks because it is controlled, and run differently: Most banks are owned by institutions like mutual funds and index funds that turnover the shares of the company rapidly. Banks rarely have large shareholders. The executives--despite owning little of the stock--are often quite powerful. That’s not the case here. Kaiser owns 68% and the entire board and all the top executives own another 1% of BOKF. Kaiser is a very long-term, controlling shareholder. He was already the second largest shareholder of Bank of Oklahoma 35 years ago. And, 24 years ago he bought majority control of Bank of Oklahoma from the FDIC when he formed BOK Financial. Since he has held stock in the bank’s predecessor for over 35 years and has been the controlling shareholder of BOK Financial for 24 years, he is likely to be patient. He is not an especially high profile figure nationally. However, he is well known in the energy industry. Tom Ward, Chairman and CEO of Sandridge Energy said he has "sought Kaiser’s advice numerous times throughout his career, calling him ‘the most astute investor I’ve ever met. I look at George Kaiser as being probably the most influential businessman in my life as far as someone I could look up to and take his advice not only about business but about how he lives.” This last statement is probably a reference to Kaiser’s charitable giving. The former CEO of Chesapeake Energy, Aubrey McClendon said George Kaiser “is widely regarded as the smartest oilman in the business. He went to work early in his life at a small, family-owned oil company and built it through hard work, good decision-making and reasonable risk-taking into one of the largest private producers of oil and natural gas in the industry.” For investors seeking a very long-term holding, BOKF is an attractive investment to hold from now through 2020.

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