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David Chivirini

Managing Director and Senior Equity Analyst at Jefferies Financial Group Inc.

David Chiaverini is a Managing Director and Senior Equity Analyst at Jefferies, specializing in coverage of US mid-cap banks and financial institutions. He currently covers a broad range of companies including M&T Bank, Comerica, Valley National Bancorp, Huntington Bancshares, Wintrust Financial, Apollo Global Management, Blackstone Group, Charles Schwab, and Invesco. Chiaverini has issued over 400 stock ratings with a measured success rate between 45% and 65%, ranking him in the top-third among Wall Street analysts, and his most profitable call delivered a 278.4% annual return. He began his analyst career by covering financials and previously served as Managing Director at Wedbush Securities before joining Jefferies; his professional credentials include FINRA registration and securities analyst licenses.

David Chivirini's questions to BOK FINANCIAL (BOKF) leadership

Question · Q3 2025

David Chivirini inquired about the competitive landscape for mortgage finance, asking if BOK Financial is observing competitors pulling back from this business.

Answer

Stacy Kymes, President and CEO, stated that while some competitors exited the market a couple of years prior due to liquidity issues, BOK Financial is not currently seeing a particular pullback. He acknowledged potential increased scrutiny on non-depository financial institution lending but asserted that mortgage warehouse lending is one of the most secure areas. Kymes highlighted BOK Financial's experienced team, strong platform, and synergies with existing mortgage trading and TBA hedging businesses as competitive advantages.

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