BancFirst Corp Q2 2024 Update

TL;DR

BancFirst's Q2 2024 report is out, showing key financial metrics like interest income and liabilities.

AI Summary

BancFirst Corporation reported its financial results for the period ending June 30, 2024. The company's filing includes details on its financial position and operations, with specific references to interest receivable, other assets, and other liabilities. The report also touches upon noninterest income and retained earnings, providing a snapshot of the bank's financial health.

Why It Matters

This filing provides insight into BancFirst's financial performance and stability, which can influence investor confidence and market perception of the bank.

Risk Assessment

Risk Level: low — The filing is a standard quarterly report with no immediate red flags or significant negative developments.

Key Numbers

• 20240630 — Period End Date (Indicates the end of the reporting quarter.)
• 20240806 — Filing Date (Shows when the report was officially submitted to the SEC.)

Key Players & Entities

• BANCFIRST CORP /OK/ (company) — Filer
• 0000760498 (company) — Central Index Key
• 20240630 (date) — Period of Report
• 20240806 (date) — Filing Date
• 100 NORTH BROADWAY AVE (address) — Business Address
• OKLAHOMA CITY (location) — Business City
• OK (location) — Business State
• 73102-8401 (zip_code) — Business Zip
• UNITED COMMUNITY CORP (company) — Former Company Name
• 19890401 (date) — Date of Name Change

FAQ

Key Financial Figures

• $1.00 — nge on which registered Common Stock, $1.00 Par Value Per Share BANF NASDAQ Glo

Filing Documents

• banf-20240630.htm (10-Q) — 5524KB
• banf-ex31_1.htm (EX-31.1) — 16KB
• banf-ex31_2.htm (EX-31.2) — 16KB
• banf-ex32.htm (EX-32) — 9KB
• 0000950170-24-091314.txt ( ) — 26219KB
• banf-20240630.xsd (EX-101.SCH) — 1970KB
• banf-20240630_htm.xml (XML) — 8256KB

– Financial Information

PART I – Financial Information Page 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) 2 Consolidated Balance Sheets 2 Consolidated Statements of Comprehensive Income 3 Consolidated Statements of Shareholders' Equity 4 Consolidated Statements of Cash Flow 5

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 6 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 31 3. Quantitative and Qualitative Disclosure About Market Risk 42 4.

Controls and Procedures

Controls and Procedures 42

– Other Information

PART II – Other Information 1.

Legal Proceedings

Legal Proceedings 43 1A.

Risk Factors

Risk Factors 43 2. Unregistered Sales of Equity Securities 43 3. Defaults Upon Senior Securities 43 4. Mine Safety Disclosures 43 5. Other Information 43 6. Exhibits 44

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. BANCFIRST CORPORATION CONSOLIDATED BALANCE SHEETS (Dollars in thousands) June 30, December 31, 2024 2023 (unaudited) (see Note 1) ASSETS Cash and due from banks $ 194,273 $ 225,462 Interest-bearing deposits with banks 2,299,019 2,172,001 Federal funds sold 1,102 1,316 Debt securities held for investment (fair value: $ 838 and $ 1,190 , respectively) 838 1,190 Debt securities available for sale at fair value 1,440,527 1,553,905 Loans held for sale 7,408 3,489 Loans held for investment (net of unearned interest) 8,047,448 7,656,645 Allowance for credit losses ( 99,626 ) ( 96,800 ) Loans, net of allowance for credit losses 7,947,822 7,559,845 Premises and equipment, net 285,131 278,594 Other real estate owned 37,823 33,718 Intangible assets, net 14,931 16,704 Goodwill 182,263 182,263 Accrued interest receivable and other assets 326,181 343,555 Total assets $ 12,737,318 $ 12,372,042 LIABILITIES AND STOCKHOLDERS' EQUITY Deposits: Noninterest-bearing $ 3,815,818 $ 3,982,226 Interest-bearing 7,199,784 6,717,896 Total deposits 11,015,602 10,700,122 Short-term borrowings 4,264 3,351 Accrued interest payable and other liabilities 118,831 148,577 Subordinated debt 86,129 86,101 Total liabilities 11,224,826 10,938,151 Stockholders' equity: Senior preferred stock, $ 1.00 par; 10,000,000 shares authorized; none issued — — Cumulative preferred stock, $ 5.00 par; 900,000 shares authorized; none issued — — Common stock, $ 1.00 par, 40,000,000 shares authorized; shares issued and outstanding: 33,022,124 and 32,933,018 , respectively 33,022 32,933 Capital surplus 178,806 174,695 Retained earnings 1,348,905 1,276,305 Accumulated other comprehensive loss, net of tax benefit of $ 14,938 and $ 15,473 , respectively ( 48,241 ) ( 50,042 ) Total sto

View Full Filing

View this 10-Q filing on SEC EDGAR