BANCFIRST CORP /OK/ Debt Disclosure
(10) LINES OF CREDIT
BancFirst has a line of credit from the FHLB of Topeka, Kansas to use for liquidity or to match-fund certain long-term fixed rate loans. BancFirst's assets, including residential first mortgages of $860.8 million, are pledged as collateral for the borrowings under the line of credit. As of December 31, 2021, BancFirst had the ability to draw up to $672.2 million on the FHLB line of credit based on FHLB stock holdings of $651,100 with no advances outstanding. In addition, BancFirst has a $25.0 million line of credit with another financial institution that is an overnight federal funds facility. Pegasus Bank also has a $20.0 million line of credit with another financial institution that is an overnight federal funds facility.Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2021 | Feb 25, 2022 | Showing above |
| 2020 | Feb 26, 2021 | |
| 2019 | Feb 28, 2020 | |
| 2017 | Mar 1, 2018 | |
| 2016 | Mar 7, 2017 | |
| 2015 | Mar 11, 2016 | |
About Debt Disclosures
Debt disclosures detail a company's borrowing structure — the types of instruments, interest rates, maturity schedule, and covenant restrictions that define its financial obligations and flexibility. This section is essential for assessing refinancing risk, interest rate exposure, and the margin of safety against financial distress.
Key signals: the maturity schedule reveals concentration risk — large maturities within 1-2 years during tight credit markets can force dilutive refinancing or asset sales. Compare the fair value of debt against carrying amount to gauge whether the market views the company's credit risk differently than the balance sheet suggests. Watch covenant compliance disclosures for tightening cushions, especially leverage and interest coverage ratios. Variable-rate debt exposure quantifies sensitivity to interest rate changes. Secured versus unsecured mix affects recovery rates and future borrowing capacity. Compare net debt-to-EBITDA against industry peers and covenant limits to assess financial health.