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## (7) Intangible Assets 

The following table presents the original cost and accumulated amortization of intangible assets (in thousands): 

<img src='content_image/7492.jpg'>

Expected amortization expense for intangible assets that will continue to be amortized under FAS 142 (in thousands): 

<img src='content_image/7494.jpg'>

## (8) Mortgage Banking Activities 

BOK Financial engages in mortgage banking activities through the BOk Mortgage Division of BOk. Residential mortgage loans held for sale totaled $166 million and $49 million and outstanding mortgage loan commitments totaled $261 million and $123 million at December 31, 2001 and 2000. Mortgage loan commitments are generally outstanding for 60 to 90 days and are subject to both credit and interest rate risk. Credit risk is managed through underwriting policies and procedures, including collateral requirements, which are generally accepted by the secondary loan markets. Exposure:to interest rate fluctuations is partially hedged through the use of mortgage-backed securities forward sales contracts. These contracts sét the price for loans that will be delivered in the next 60:to 90 days. At December. 31, 2001, the notional amount of forward sales contracts totaled $208 million, with a fair value of $2.6 million. Mortgage loans held for sale are carried at the lower of aggregate cost or market value, including estimated losses on unfunded commitments and gains or losses on forward sales contracts. 

The net amortized cost of intangible assets at December 31, 2001 is assigned to reporting units as follows (in thousands): 

<img src='content_image/7493.jpg'>

At December 31, 2001, BOk owned the rights to service 88,916 mortgage loans with outstanding principal balances of $6.6 billion, including $209 million serviced for BOk, and held related funds of $177 million for investors and borrowers. The weighted average interest rate and remaining term was 7.30% and 266 months, respectively. 

Mortgage loans sold with recourse totaled $2.4 million at December 31, 2001. At December 31, 2000, BOk owned the rights to service mortgage loans with outstanding principal balances of $6.9 billion and held related funds of $79 million for investors and borrowers. 

The portfolio of mortgage servicing rights exposes BOk to interest rate risk. During periods of falling interest rates, mortgage loan prepayments increase, reducing the value of the mortgage servicing rights. During 1998 through the first quarter of 2000, BOk used a combination of futures contracts.and options related to 10-year U.S. Treasury securities to hedge this risk. See Note 1 for specific accounting policies for mortgage servicing rights and the related hedges: 

