BANCFIRST CORP /OK/

Listed Company

BANFCIK 0000760498NasdaqLarge AcceleratedNational Commercial BanksOklahomaFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$240.61M

Total Assets

$14.84B

Equity

$1.85B

Shares Out

33.55M

Op. Cash Flow

$285.28M

Business

BANCFIRST CORP /OK/ is a financial holding company that conducts most of its operations through its wholly owned banks and subsidiaries, providing commercial and retail banking services. It offers commercial, real estate, energy, agricultural and consumer lending; deposit and funds transfer products; cash management, trust and investment management, insurance brokerage, SBA lending and correspondent banking services. The company operates six principal business units: BancFirst metropolitan banks, BancFirst community banks, Pegasus, Worthington, other financial services and executive operations and support. Its products are distributed through a community branch network, centralized processing and support functions, and relationship-driven channels in Oklahoma and the Dallas–Fort Worth metroplex.

Summary from filing dated 2025-02-28

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Loans, including fees	565	555	468	336	316
Taxable	27	34	37	24	6
Tax-exempt	81,000	74,000	72,000	93,000	204,000
Federal funds sold	464,000	33,000	226,000	83,000	—
Interest-bearing deposits with banks	168	135	119	59	4
Total interest income	760	724	624	420	327
Deposits	265	273	195	42	8
Short-term borrowings	289,000	235,000	312,000	60,000	2,000
Long-term borrowings	44,000	0	0	—	—
Subordinated debt	4	4	4	4	3
Total interest expense	270	277	199	46	—
Net interest income	490	447	424	374	316
Provision for credit losses on loans	5	9	7	10	−9
Provision for off-balance sheet credit exposures	723,000	0	0	—	—
Total provision for credit losses	6	9	7	—	—
Net interest income after provision for credit losses	485	438	417	364	324
Securities transactions	383,000	97,000	−2	−2	1
Sales of loans	3	3	3	5	7
Insurance commissions	35	33	31	27	24
Cash management	41	36	31	19	12
Gain/(loss) on sale of other assets	955,000	−12,000	2	448,000	3
Other	25	21	26	32	27
Total noninterest income	200	185	185	184	170
Salaries and employee benefits	226	212	200	185	167
Occupancy, net	25	22	21	19	18
Depreciation	19	18	19	19	17
Amortization of intangible assets	3	4	4	3	3
Data processing services	12	11	8	8	7
Net expense from other real estate owned	20	13	16	10	9
Marketing and business promotion	10	9	9	8	7
Deposit insurance	7	6	6	5	3
Other	57	52	50	53	54
Total noninterest expense	380	347	332	310	286
Income before taxes	305	275	270	237	208
Income tax expense	65	59	57	44	41
Net income	241	216	212	193	168
Basic	7.22	6.55	6.45	5.89	5.12
Diluted	7.11	6.44	6.34	5.77	5.03
Unrealized gains on available for sale debt securities, net of tax expense of $7,635, $5,282 and $6,634, respectively	25	17	22	−75	−5
Other comprehensive income, net of tax expense of $7,635, $5,282 and $6,634, respectively	25	17	22	−74	−5
Comprehensive income	265	234	234	119	162

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and due from banks	227	238	225	259	229
Interest-bearing deposits with banks	4,177	3,316	2,172	2,910	1,821
Federal funds sold	92	715,000	1	3	800,000
Debt securities held for investment (fair value: $561 and $837, respectively)	561,000	837,000	1	2	3
Debt securities available for sale at fair value	924	1,211	1,554	1,538	532
Loans held for sale	12	8	3	6	25
Loans held for investment (net of unearned interest)	8,533	8,025	7,657	6,944	—
Allowance for credit losses	−104	−99	−97	−93	—
Loans, net of allowance for credit losses	8,429	7,926	7,560	—	—
Premises and equipment, net	326	296	279	278	269
Other real estate owned	48	33	34	37	39
Intangible assets, net	21	13	17	20	18
Goodwill	183	182	182	182	150
Accrued interest receivable and other assets	400	330	344	302	234
Total assets	14,839	13,554	12,372	12,388	9,406
Noninterest-bearing	3,898	3,907	3,982	4,945	3,775
Interest-bearing	8,773	7,811	6,718	6,029	4,317
Total deposits	12,670	11,719	10,700	10,974	8,092
Short-term borrowings	10	0	3	300,000	0
Long-term borrowings	12	0	—	—	—
Accrued interest payable and other liabilities	206	128	149	76	56
Subordinated debt	86	86	86	86	86
Total liabilities	12,985	11,933	10,938	11,137	8,234
Commitments and contingent liabilities (Note 19)	—	—	—	—	—
Common stock, $1.00 par, 40,000,000 shares authorized; shares issued and outstanding: 33,539,032 and 33,216,519, respectively	34	33	33	33	33
Capital surplus	218	187	175	169	160
Retained earnings	1,611	1,434	1,276	1,120	977
Accumulated other comprehensive loss, net of tax benefit of $2,556 and $10,191, respectively	−8	−33	−50	−72	2
Total stockholders' equity	1,854	1,621	1,434	1,251	1,172
Total liabilities and stockholders' equity	14,839	13,554	12,372	12,388	9,406

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	23	22	22	22	20
Net amortization of securities premiums and discounts	−722,000	−1	−1	3	4
Cash receipts from the sale of loans originated for sale	186	155	150	246	369
Cash disbursements for loans originated for sale	−187	−157	−144	−223	−355
Deferred income tax benefit	−904,000	−2	−3	322,000	7
Gain on sale of other real estate owned and other assets	−965,000	−1	−2	−5	−3
Decrease (increase) in interest receivable	2	−636,000	−10	−17	4
Increase in interest payable	45,000	6	8	3	−617,000
Amortization of stock-based compensation arrangements	4	3	3	2	2
Excess tax benefit from stock-based compensation arrangements	−2	−4	−899,000	−3	−2
Other, net	19	18	−7	−2	7
Net cash provided by operating activities	285	261	233	226	204
Net cash received from acquisitions, net of cash paid	14	—	8	121	13
Net decrease in federal funds sold	6	601,000	2	563,000	14
Purchases of available for sale debt securities	−371	−375	−454	−1,882	−462
Proceeds from maturities, calls and paydowns of held for investment debt securities	91,000	354,000	1	74,000	831,000
Proceeds from maturities, calls and paydowns of available for sale debt securities	709	742	468	550	507
Purchase of equity securities	−371,000	−409,000	−310,000	−4	−904,000
Proceeds from paydowns and sales of equity securities	5	405,000	850,000	2	1
Net change in loans	−288	−388	−719	−521	404
Net receipts (payments) on derivative asset contracts	8	−15	21	7	−14
Purchases of premises, equipment and computer software	−48	−37	−23	−20	−27
Purchase of tax credits	−31	−13	−8	−10	−7
Other, net	12	14	33	14	9
Net cash provided by (used in) investing activities	16	−71	−670	−1,519	423
Net change in deposits	611	1,018	−285	2,452	−192
Net change in short-term borrowings	10	−3	3	300,000	−1
Paydown of long-term borrowings	−14	—	—	—	—
Issuance of common stock in connection with stock-based compensation plans, net	5	9	3	8	2
Common stock acquired	—	—	−2	—	−12
Cash dividends paid	−62	−58	−54	−48	−45
Net cash provided by (used in) financing activities	550	966	−335	2,412	−194
Net increase/(decrease) in cash, due from banks and interest-bearing deposits	851	1,156	−771	1,119	433
Cash paid during the period for interest	269	271	192	43	12
Cash paid during the period for income taxes	55	47	52	35	31

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