BancFirst Corp Q3 2024 10-Q Filing

TL;DR

BANF's Q3 10-Q is in: Assets, liabilities, and segment performance detailed. #Banking

AI Summary

BancFirst Corporation (BANF) filed its 10-Q for the period ending September 30, 2024. The filing details the company's financial performance and position, including assets and liabilities related to interest and non-interest income. Specific segments like Agriculture and Real Estate are mentioned, alongside customer relationships and consumer financing.

Why It Matters

This filing provides insight into BancFirst's financial health and operational segments, which can influence investor decisions and market perception of the bank.

Risk Assessment

Risk Level: medium — The filing contains detailed financial information and segment disclosures, which are standard for a 10-Q but require careful analysis to assess risk.

Key Numbers

• Q3 — Quarter (Reporting period for the 10-Q filing.)
• 20240930 — Report Date (The end date of the reporting period.)

Key Players & Entities

• BANCFIRST CORP /OK/ (company) — Filer
• 20240930 (date) — Period of Report
• 100 NORTH BROADWAY AVE (address) — Business and Mail Address
• OKLAHOMA CITY (city) — Business and Mail City
• OK (state) — Business and Mail State
• 73102-8401 (zip_code) — Business and Mail Zip
• 4052701000 (phone_number) — Business Phone
• UNITED COMMUNITY CORP (company) — Former Company Name
• 19890401 (date) — Date of Former Company 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-20240930.htm (10-Q) — 5587KB
• banf-ex31_1.htm (EX-31.1) — 16KB
• banf-ex31_2.htm (EX-31.2) — 16KB
• banf-ex32.htm (EX-32) — 10KB
• 0000950170-24-121319.txt ( ) — 26623KB
• banf-20240930.xsd (EX-101.SCH) — 1972KB
• banf-20240930_htm.xml (XML) — 8315KB

– 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) September 30, December 31, 2024 2023 (unaudited) (see Note 1) ASSETS Cash and due from banks $ 248,495 $ 225,462 Interest-bearing deposits with banks 2,743,578 2,172,001 Federal funds sold — 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 1,376,075 1,553,905 Loans held for sale 7,841 3,489 Loans held for investment (net of unearned interest) 8,180,361 7,656,645 Allowance for credit losses ( 101,882 ) ( 96,800 ) Loans, net of allowance for credit losses 8,078,479 7,559,845 Premises and equipment, net 285,553 278,594 Other real estate owned 38,946 33,718 Intangible assets, net 14,045 16,704 Goodwill 182,263 182,263 Accrued interest receivable and other assets 337,369 343,555 Total assets $ 13,313,482 $ 12,372,042 LIABILITIES AND STOCKHOLDERS' EQUITY Deposits: Noninterest-bearing $ 3,858,670 $ 3,982,226 Interest-bearing 7,615,682 6,717,896 Total deposits 11,474,352 10,700,122 Short-term borrowings 4,429 3,351 Accrued interest payable and other liabilities 163,983 148,577 Subordinated debt 86,143 86,101 Total liabilities 11,728,907 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: 33,122,689 and 32,933,018 , respectively 33,123 32,933 Capital surplus 183,277 174,695 Retained earnings 1,392,572 1,276,305 Accumulated other comprehensive loss, net of tax benefit of $ 7,551 and $ 15,473 , respectively ( 24,397 ) ( 50,042 ) Total st

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View this 10-Q filing on SEC EDGAR