BANCFIRST CORP /OK/ Segments Disclosure
(23) SEGMENT INFORMATION
The Company, along with its chief operating decision maker (CODM), which is BancFirst Corporation's , evaluates its performance with an internal profitability measurement system that measures the profitability of its business units on a pre-tax basis. The financial information for each business unit is presented on the basis used internally by management and the CODM to evaluate performance and allocate resources. The Company utilizes a transfer pricing system to allocate the benefit or cost of funds provided or used by the various business units. Certain services provided by the support group to other business units, such as item processing, are allocated at rates approximating the cost of providing the services. Eliminations are adjustments to consolidate the business units. Capital expenditures are generally charged to the business unit using the asset.
The seven principal business units are BancFirst metropolitan banks, BancFirst community banks, Pegasus, Worthington, ABOK, other financial services and executive, operations, support and eliminations. BancFirst metropolitan banks, BancFirst community banks, Pegasus, Worthington and ABOK offer traditional banking products such as commercial and retail lending and a full line of deposit accounts. BancFirst metropolitan banks consist of banking locations in the metropolitan Oklahoma City and Tulsa areas. BancFirst community banks and ABOK consist of banking locations in communities in Oklahoma outside the Oklahoma City and Tulsa metropolitan areas. Pegasus consists of banking locations in the Dallas metropolitan area. Worthington consists of banking locations in Arlington, Fort Worth and Denton Texas. Other financial services are specialty product business units including guaranteed small business lending, residential mortgage lending, trust services, securities brokerage, electronic banking and insurance. The executive, operations, support and eliminations group represents executive management, operational support, corporate functions that are not allocated to the other business units and elimination adjustments to consolidate the business units.
The results of operations and selected financial information for the seven business units are as follows:
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BancFirst Metropolitan |
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BancFirst Community |
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Pegasus |
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Worthington |
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ABOK |
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Other |
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|
Executive, |
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|
Consolidated |
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|
(Dollars in thousands) |
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December 31, 2025 |
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|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Interest income |
|
$ |
199,106 |
|
|
$ |
436,916 |
|
|
$ |
83,840 |
|
|
$ |
35,925 |
|
|
$ |
3,072 |
|
|
$ |
9,971 |
|
|
$ |
(8,576 |
) |
|
$ |
760,254 |
|
Interest expense |
|
|
79,872 |
|
|
|
159,682 |
|
|
|
31,452 |
|
|
|
11,349 |
|
|
|
994 |
|
|
|
3,921 |
|
|
|
(17,503 |
) |
|
|
269,767 |
|
Provision for/(benefit |
|
|
82 |
|
|
|
2,967 |
|
|
|
1,136 |
|
|
|
462 |
|
|
|
(311 |
) |
|
|
316 |
|
|
|
1,018 |
|
|
|
5,670 |
|
Noninterest income |
|
|
25,169 |
|
|
|
72,766 |
|
|
|
2,146 |
|
|
|
629 |
|
|
|
105 |
|
|
|
63,493 |
|
|
|
35,833 |
|
|
|
200,141 |
|
Depreciation and |
|
|
1,801 |
|
|
|
10,463 |
|
|
|
526 |
|
|
|
642 |
|
|
|
207 |
|
|
|
550 |
|
|
|
8,353 |
|
|
|
22,542 |
|
Other noninterest expense |
|
|
48,571 |
|
|
|
145,310 |
|
|
|
23,093 |
|
|
|
14,994 |
|
|
|
1,386 |
|
|
|
45,596 |
|
|
|
78,348 |
|
|
|
357,298 |
|
Income before taxes |
|
$ |
93,949 |
|
|
$ |
191,260 |
|
|
$ |
29,779 |
|
|
$ |
9,107 |
|
|
$ |
901 |
|
|
$ |
23,081 |
|
|
$ |
(42,959 |
) |
|
$ |
305,118 |
|
Loans held for investment |
|
$ |
2,499,703 |
|
|
$ |
4,237,764 |
|
|
$ |
947,495 |
|
|
$ |
488,891 |
|
|
$ |
243,087 |
|
|
$ |
104,934 |
|
|
$ |
10,979 |
|
|
$ |
8,532,853 |
|
Total assets |
|
$ |
3,588,668 |
|
|
$ |
8,179,183 |
|
|
$ |
1,609,772 |
|
|
$ |
643,555 |
|
|
$ |
394,361 |
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|
$ |
95,146 |
|
|
$ |
328,208 |
|
|
$ |
14,838,893 |
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Total deposits |
|
$ |
3,035,549 |
|
|
$ |
7,544,595 |
|
|
$ |
1,358,609 |
|
|
$ |
550,008 |
|
|
$ |
329,494 |
|
|
$ |
— |
|
|
$ |
(147,862 |
) |
|
$ |
12,670,393 |
|
Capital expenditures |
|
$ |
7,023 |
|
|
$ |
16,162 |
|
|
$ |
1,656 |
|
|
$ |
143 |
|
|
$ |
— |
|
|
$ |
1,286 |
|
|
$ |
22,041 |
|
|
$ |
48,311 |
|
December 31, 2024 |
|
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|
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|
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|
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|
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|
|
|
|
|
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|
|
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Interest income |
|
$ |
211,451 |
|
|
$ |
414,594 |
|
|
$ |
80,540 |
|
|
$ |
32,237 |
|
|
$ |
— |
|
|
$ |
9,780 |
|
|
$ |
(24,463 |
) |
|
$ |
724,139 |
|
Interest expense |
|
|
94,400 |
|
|
|
164,974 |
|
|
|
32,473 |
|
|
|
13,466 |
|
|
|
— |
|
|
|
4,845 |
|
|
|
(32,893 |
) |
|
|
277,265 |
|
Provision for/(benefit |
|
|
(620 |
) |
|
|
4,300 |
|
|
|
3,690 |
|
|
|
286 |
|
|
|
— |
|
|
|
344 |
|
|
|
1,004 |
|
|
|
9,004 |
|
Noninterest income |
|
|
22,278 |
|
|
|
68,349 |
|
|
|
1,481 |
|
|
|
961 |
|
|
|
— |
|
|
|
59,804 |
|
|
|
31,702 |
|
|
|
184,575 |
|
Depreciation and |
|
|
1,701 |
|
|
|
10,324 |
|
|
|
631 |
|
|
|
646 |
|
|
|
— |
|
|
|
490 |
|
|
|
7,889 |
|
|
|
21,681 |
|
Other noninterest expense |
|
|
44,692 |
|
|
|
135,215 |
|
|
|
21,676 |
|
|
|
14,561 |
|
|
|
— |
|
|
|
41,396 |
|
|
|
67,943 |
|
|
|
325,483 |
|
Income before taxes |
|
$ |
93,556 |
|
|
$ |
168,130 |
|
|
$ |
23,551 |
|
|
$ |
4,239 |
|
|
$ |
— |
|
|
$ |
22,509 |
|
|
$ |
(36,704 |
) |
|
$ |
275,281 |
|
Loans held for investment |
|
$ |
2,436,878 |
|
|
$ |
4,069,972 |
|
|
$ |
886,760 |
|
|
$ |
453,584 |
|
|
$ |
— |
|
|
$ |
94,432 |
|
|
$ |
83,484 |
|
|
$ |
8,025,110 |
|
Total assets |
|
$ |
3,540,092 |
|
|
$ |
7,810,502 |
|
|
$ |
1,417,873 |
|
|
$ |
644,928 |
|
|
$ |
— |
|
|
$ |
135,783 |
|
|
$ |
5,136 |
|
|
$ |
13,554,314 |
|
Total deposits |
|
$ |
2,841,106 |
|
|
$ |
7,197,541 |
|
|
$ |
1,203,172 |
|
|
$ |
558,641 |
|
|
$ |
— |
|
|
$ |
(14,547 |
) |
|
$ |
(67,367 |
) |
|
$ |
11,718,546 |
|
Capital expenditures |
|
$ |
5,353 |
|
|
$ |
11,852 |
|
|
$ |
397 |
|
|
$ |
4,889 |
|
|
$ |
— |
|
|
$ |
4,355 |
|
|
$ |
9,806 |
|
|
$ |
36,652 |
|
December 31, 2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Interest income |
|
$ |
196,270 |
|
|
$ |
342,528 |
|
|
$ |
74,932 |
|
|
$ |
25,374 |
|
|
$ |
— |
|
|
$ |
8,954 |
|
|
$ |
(24,122 |
) |
|
$ |
623,936 |
|
Interest expense |
|
|
76,044 |
|
|
|
113,332 |
|
|
|
23,655 |
|
|
|
7,979 |
|
|
|
— |
|
|
|
4,790 |
|
|
|
(26,320 |
) |
|
|
199,480 |
|
Provision for/(benefit |
|
|
4,836 |
|
|
|
2,331 |
|
|
|
(328 |
) |
|
|
564 |
|
|
|
— |
|
|
|
79 |
|
|
|
(24 |
) |
|
|
7,458 |
|
Noninterest income |
|
|
24,793 |
|
|
|
70,824 |
|
|
|
1,646 |
|
|
|
1,170 |
|
|
|
— |
|
|
|
52,711 |
|
|
|
34,264 |
|
|
|
185,408 |
|
Depreciation and |
|
|
2,347 |
|
|
|
10,514 |
|
|
|
804 |
|
|
|
496 |
|
|
|
— |
|
|
|
481 |
|
|
|
7,547 |
|
|
|
22,189 |
|
Other noninterest expense |
|
|
46,329 |
|
|
|
123,554 |
|
|
|
20,084 |
|
|
|
13,636 |
|
|
|
— |
|
|
|
37,495 |
|
|
|
69,171 |
|
|
|
310,269 |
|
Income before taxes |
|
$ |
91,507 |
|
|
$ |
163,621 |
|
|
$ |
32,363 |
|
|
$ |
3,869 |
|
|
$ |
— |
|
|
$ |
18,820 |
|
|
$ |
(40,232 |
) |
|
$ |
269,948 |
|
Loans held for investment |
|
$ |
2,495,337 |
|
|
$ |
3,756,022 |
|
|
$ |
803,290 |
|
|
$ |
418,719 |
|
|
$ |
— |
|
|
$ |
103,441 |
|
|
$ |
79,836 |
|
|
$ |
7,656,645 |
|
Total assets |
|
$ |
3,598,888 |
|
|
$ |
7,012,905 |
|
|
$ |
1,280,618 |
|
|
$ |
600,364 |
|
|
$ |
— |
|
|
$ |
121,601 |
|
|
$ |
(242,334 |
) |
|
$ |
12,372,042 |
|
Total deposits |
|
$ |
2,741,628 |
|
|
$ |
6,435,161 |
|
|
$ |
1,084,077 |
|
|
$ |
499,462 |
|
|
$ |
— |
|
|
$ |
(26,781 |
) |
|
$ |
(33,425 |
) |
|
$ |
10,700,122 |
|
Capital expenditures |
|
$ |
2,752 |
|
|
$ |
5,156 |
|
|
$ |
528 |
|
|
$ |
5,497 |
|
|
$ |
— |
|
|
$ |
108 |
|
|
$ |
8,463 |
|
|
$ |
22,504 |
|
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 26, 2026 | Showing above |
| 2024 | Feb 28, 2025 | |
| 2023 | Feb 27, 2024 | |
| 2022 | Feb 24, 2023 | |
| 2021 | Feb 25, 2022 | |
| 2020 | Feb 26, 2021 | |
| 2019 | Feb 28, 2020 | |
| 2017 | Mar 1, 2018 | |
| 2016 | Mar 7, 2017 | |
| 2015 | Mar 11, 2016 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.