UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
December 21, 2005
BOK FINANCIAL CORPORATION
(Exact name of registrant as specified in its charter)
Commission File No. 0-19341
Oklahoma 73-1373454
(State or other jurisdiction (IRS Employer
of Incorporation or Organization) Identification No.)
Bank of Oklahoma Tower
P.O. Box 2300
Tulsa, Oklahoma 74192
(Address of Principal Executive Offices) (Zip Code)
(918) 588-6000
(Registrant's telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
|_| Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425).
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12).
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b)).
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c)).
INFORMATION TO BE INCLUDED IN THE REPORT
ITEM 8.01 Other Events
BOK Financial Corporation (the "Company"), through its wholly-owned
subsidiary, Bank of Oklahoma, N.A. approved modifications to the retirement
benefit plans offered to its employees. The objectives of these modifications
are to provide competitive retirement benefits that reward long-term employee
performance and provide employees with more control over their retirement
savings. These modifications will become effective April 1, 2006.
Changes to Company's Thrift Plans include increasing the maximum percentage
of employee contribution subject to employer matching from 5% to 6% of
compensation as defined by the plans, increasing the employer's matching
contributions based on years of service, and implementing a maximum non-elective
annual contribution of $750 for certain employees. Employer matching
contributions will now range from 50 cents per dollar contributed by employees
with less than four years of service to $2 per dollar contributed by employees
with 15 or more years of service. In addition, the maximum after-tax employee
contribution has been increased from 5% to 6% of compensation as defined by the
plans.
The Company also elected to curtail accruals for future service under its
defined-benefit Pension Plan. Interest will continue to accrue on employees'
account balances as provided by the Pension Plan.
The Company will incur a charge of approximately $500,000 in the fourth
quarter of 2005 for the curtailment of its Pension Plan. The combined effect of
the modifications is not expected to have a significant impact on future
earnings or liquidity.
Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
BOK FINANCIAL CORPORATION
By: /s/ Steven E. Nell
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Steven E. Nell
Executive Vice President
Chief Financial Officer
Date: December 21, 2005
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