News: BOQ Bank Of Queensland says refines operating model, page-10

I think you'll find the savage share price reaction had far more to do with the words "headwinds for our margin outlook" in the second last paragraph. The $15m in the context of a $4.0bn plus company is relatively insignificant.

I don't own BOQ, but I have been watching it. I think it is reasonable value at these levels. A lot of the recent regulatory changes are going to be positive for competition in the banking sector... Read, positive for regional banks at the expense of the big 4 oligopoly. I think this is something that will take a couple of years to play out as these regulations work their way through the system. Some of these regulations are already in effect, but some are still to be implemented and/or finalised. How APRA choose to implement TLAC (Total Loss Absorbing Capital) in Australia will be interesting to watch. TLAC only applies to G-SIBs, but the expectation is that the D-SIBs (Major bank in Aus.) will also be affected.

I also think that the majors will attempt to increase their margins this year for two reasons 1) increase capital requirements will have impacted their ROEs, and 2) the increased funding costs referred to in the BOQ statement and they will use the latter as their rationale for the hike. If the major banks (price makers) increase mortgage rates either independent of the RBA or by holding back a rate cut, or part thereof, this will help the regionals too, who will likely follow.

I don't own BOQ, but I will be watching their price over the next day or two with a view to picking some up.