OKLAHOMA CITY, Jan. 22, 2026 /PRNewswire/ -- BancFirst Corporation (NASDAQ GS:BANF) reported net income of $59.5 million, or $1.75 per diluted share, for the fourth quarter of 2025 compared to net income of $56.5 million, or $1.68 per diluted share, for the fourth quarter of 2024.
The Company's net interest income for the three-months ended December 31, 2025 increased to $127.7 million in comparison to $115.9 million for the same period in 2024. Higher loan volume and growth in other earning assets were the primary drivers of the change in net interest income. A contributor to the increase in net interest income was also the Company's November 2025 acquisition of American Bank of Oklahoma. Net interest margin improved slightly to 3.71% for the fourth quarter of 2025 from 3.68% for the fourth quarter of 2024. The Company recorded a reversal of provision for credit losses on loans of $2.0 million in the three months ending December 31, 2025 compared to a reversal of $1.4 million for the same period in 2024.
Noninterest income for the quarter totaled $53.3 million compared to $47.0 million last year. The increase in noninterest income was primarily due to a gain on the sale of Visa B-1 stock of $4.5 million. In addition, trust revenue, treasury income, sweep fees and securities transactions each increased when compared to fourth quarter last year.
Noninterest expense grew to $107.4 million for the quarter-ended December 31, 2025 compared to $92.3 million in the same quarter in 2024. The increase in noninterest expense was primarily driven by an increase in net expense from other real estate owned of $5.6 million which largely consisted of an increase in write-downs of other real estate of $4.1 million and other real estate expense of $1.4 million. Also contributing to noninterest expense was growth in salaries and employee benefits of $4.2 million, occupancy expense of $1 million and other noninterest expense of $3.2 million. American Bank of Oklahoma contributed $1.6 million of noninterest expense for the quarter.
At December 31, 2025, the Company's total assets were $14.8 billion, an increase of $1.3 billion from December 31, 2024. Loans grew $511.4 million from December 31, 2024, totaling $8.5 billion at December 31, 2025. Deposits totaled $12.7 billion, an increase of $951.8 million from year-end 2024. Off-balance sheet sweep accounts totaled $4.9 billion at December 31, 2025, down $262.6 million from December 31, 2024. The Company's total stockholders' equity totaled $1.9 billion at December 31, 2025.
Asset quality was strong through the quarter. Nonaccrual loans of $61.1 million represented 0.72% of total loans at December 31, 2025, relatively unchanged from $58.0 million or 0.72% of total loans at year-end 2024. The allowance for credit losses to total loans was 1.22% at December 31, 2025, down slightly from 1.24% at December 31, 2024. Net charge-offs were $1.6 million for the quarter, compared to $985,000 for the fourth quarter last year.
On November 17, 2025, the Company acquired American Bank of Oklahoma ("ABOK"), for aggregate consideration totaling $33 million. ABOK is a community bank headquartered in Collinsville, Oklahoma with six banking locations in Oklahoma. Upon acquisition, ABOK had approximately $413 million in total assets, $244 million in loans and $341 million in deposits. ABOK will continue to operate under its present name until it is merged into BancFirst, which is expected to be in the first quarter of 2026.
BancFirst Corporation CEO David Harlow commented, "The Company reported record net income and record earnings per share for the fifth consecutive year. Loan growth, a stable net interest margin and solid growth in most all non-interest income categories contributed positively to the year's results. We closed on our previously announced acquisition of American Bank of Oklahoma in the quarter adding the Tulsa MSA communities of Collinsville and Skiatook to the 58 communities across the state that BancFirst serves. Our DFW banks Pegasus and Worthington continue to perform well with growth rates exceeding those of the company as a whole. Asset quality remains solid and charge-offs were in line at historical levels. Our outlook on the economy remains mixed and thus we continue to maintain a healthy allowance for credit losses as a percentage of loans."
BancFirst Corporation (the Company) is an Oklahoma based financial services holding company. The Company operates four subsidiary banks, BancFirst, an Oklahoma state-chartered bank with 105 banking locations serving 58 communities across Oklahoma, Pegasus Bank, a Texas state-chartered bank with three banking locations in the Dallas Metroplex area, Worthington Bank, a Texas state-chartered bank with three locations in the Fort Worth Metroplex area, one location in Arlington Texas and one location in Denton Texas and American Bank of Oklahoma with six banking locations in Oklahoma. More information can be found at www.bancfirst.bank.
The Company may make forward-looking statements within the meaning of Section 27A of the securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 with respect to earnings, credit quality, corporate objectives, interest rates and other financial and business matters. Forward-looking statements include estimates and give management's current expectations or forecasts of future events. The Company cautions readers that these forward-looking statements are subject to numerous assumptions, risks and uncertainties, including economic conditions, the performance of financial markets and interest rates; legislative and regulatory actions and reforms; competition; as well as other factors, all of which change over time. Actual results may differ materially from forward-looking statements.
BancFirst Corporation
Summary Financial Information
(Dollars in thousands, except per share and share data - Unaudited)
2025 2025 2025 2025 2024
4th Qtr 3rd Qtr 2nd Qtr 1st Qtr 4th Qtr
Condensed Income Statements:
Net interest income $127,667 $125,615 $121,256 $115,949 $115,917
Provision for credit losses on loans (1,975) 4,222 1,239 1,461 (1,400)
Provision for off-balance sheet credit exposures 234 216 148 125
Noninterest income:
Trust revenue 5,933 5,850 5,795 5,539 5,551
Service charges on deposits 18,393 18,131 17,741 16,804 18,133
Securities transactions 964 492 (740) (333) 355
Sales of loans 781 916 830 636 731
Insurance commissions 7,643 8,954 7,920 10,410 7,914
Cash management 10,120 10,338 10,573 10,051 9,221
Other 9,499 5,185 5,929 5,787 5,114
Total noninterest income 53,333 49,866 48,048 48,894 47,019
Noninterest expense:
Salaries and employee benefits 58,570 57,681 55,147 54,593 54,327
Occupancy expense, net 6,946 6,434 6,037 5,753 5,977
Depreciation 4,872 4,725 4,691 4,808 4,593
Amortization of intangible assets 836 862 862 886 887
Data processing services 3,041 2,901 2,985 2,892 2,726
Net expense from other real estate owned 12,044 2,778 2,941 2,658 6,446
Marketing and business promotion 3,121 2,126 2,325 2,461 2,719
Deposit insurance 1,692 1,736 1,675 1,725 1,653
Other 16,268 12,829 11,536 16,403 13,007
Total noninterest expense 107,390 92,072 88,199 92,179 92,335
Income before income taxes 75,351 78,971 79,718 71,078 72,001
Income tax expense 15,854 16,317 17,371 14,966 15,525
Net income $59,497 $62,654 $62,347 $56,112 $56,476
Per Common Share Data:
Net income-basic $1.78 $1.88 $1.87 $1.69 $1.71
Net income-diluted 1.75 1.85 1.85 1.66 1.68
Cash dividends declared 0.49 0.49 0.46 0.46 0.46
Common shares outstanding 33,539,032 33,329,247 33,272,131 33,241,564 33,216,519
Average common shares outstanding -
Basic 33,423,922 33,310,290 33,255,015 33,232,788 33,172,530
Diluted 33,906,434 33,864,129 33,795,243 33,768,873 33,750,993
Performance Ratios:
Return on average assets 1.60 % 1.76 % 1.79 % 1.66 % 1.67 %
Return on average stockholders' equity 13.02 14.18 14.74 13.85 14.04
Net interest margin 3.71 3.79 3.75 3.70 3.68
Efficiency ratio 59.33 52.47 52.10 55.92 56.67
BancFirst Corporation
Summary Financial Information
(Dollars in thousands, except per share and share data - Unaudited)
2025 2025 2025 2025 2024
4th Qtr 3rd Qtr 2nd Qtr 1st Qtr 4th Qtr
Balance Sheet Data:
Total assets $14,838,893 $14,198,140 $14,045,780 $14,038,055 $13,554,314
Interest-bearing deposits with banks 4,177,406 3,849,736 3,737,763 3,706,328 3,315,932
Debt securities 924,948 1,015,941 1,104,604 1,167,441 1,211,754
Total loans 8,544,634 8,287,167 8,124,497 8,102,810 8,033,183
Allowance for credit losses (104,299) (99,511) (96,988) (100,455) (99,497)
Noninterest-bearing demand deposits 3,897,613 3,816,389 3,967,626 4,027,797 3,907,060
Money market and interest-bearing checking deposits 5,610,882 5,393,791 5,301,439 5,393,995 5,231,327
Savings deposits 1,318,062 1,251,394 1,205,602 1,174,685 1,110,020
Time deposits 1,843,836 1,656,813 1,581,525 1,530,273 1,470,139
Total deposits 12,670,393 12,118,387 12,056,192 12,126,750 11,718,546
Stockholders' equity 1,854,125 1,782,801 1,728,038 1,672,827 1,621,187
Book value per common share 55.28 53.49 51.94 50.32 48.81
Tangible book value per common share (non-GAAP)(1) 49.20 47.71 46.12 44.47 42.92
Balance Sheet Ratios:
Average loans to deposits 66.43 % 67.32 % 67.11 % 68.08 % 69.63 %
Average earning assets to total assets 93.00 93.00 92.97 93.10 93.14
Average stockholders' equity to average assets 12.33 12.38 12.14 12.00 11.87
Asset Quality Data:
Past due loans $7,506 $7,959 $7,515 $5,120 $7,739
Nonaccrual loans (3) 61,130 57,266 49,878 56,371 57,984
Other real estate owned and repossessed assets 49,116 53,233 53,022 35,542 33,665
Nonaccrual loans to total loans 0.72 % 0.69 % 0.61 % 0.70 % 0.72 %
Allowance to total loans 1.22 1.20 1.19 1.24 1.24
Allowance to nonaccrual loans 170.62 173.77 194.45 178.20 171.59
Net charge-offs to average loans 0.02 0.02 0.05 0.01 0.01
Reconciliation of Tangible Book Value Per Common Share (non-GAAP)(2):
Stockholders' equity $1,854,125 $1,782,801 $1,728,038 $1,672,827 $1,621,187
Less goodwill 182,739 182,263 182,263 182,263 182,263
Less intangible assets, net 21,357 10,548 11,410 12,272 13,158
Tangible stockholders' equity (non-GAAP) $1,650,029 $1,589,990 $1,534,365 $1,478,292 $1,425,766
Common shares outstanding 33,539,032 33,329,247 33,272,131 33,241,564 33,216,519
Tangible book value per common share (non-GAAP) $49.20 $47.71 $46.12 $44.47 $42.92
(1) Refer to the "Reconciliation of Tangible Book Value per Common Share (non-GAAP)" Table.
(2) Tangible book value per common share is stockholders' equity less goodwill and intangible assets, net, divided by common shares outstanding. This amount is a non-GAAP
financial measure but has been included as it is considered to be a critical metric with which to analyze and evaluate the financial condition and capital strength of the Company.
This measure should not be considered a substitute for operating results determined in accordance with GAAP.
(3) Government Agencies guarantee approximately $10.6 million of nonaccrual loans at December 31, 2025.
BancFirst Corporation
Summary Financial Information
(Dollars in thousands, except per share and share data - Unaudited)
Twelve months ended
December 31,
2025 2024
Condensed Income Statements:
Net interest income $490,487 $446,874
Provision for credit losses on loans 4,947 9,004
Provision for off-balance sheet credit exposures 723
Noninterest income:
Trust revenue 23,117 21,801
Service charges on deposits 71,069 69,564
Securities transactions 383 97
Sales of loans 3,163 2,676
Insurance commissions 34,927 33,428
Cash management 41,082 36,210
Other 26,400 20,799
Total noninterest income 200,141 184,575
Noninterest expense:
Salaries and employee benefits 225,991 211,998
Occupancy expense, net 25,170 22,192
Depreciation 19,096 18,135
Amortization of intangible assets 3,446 3,546
Data processing services 11,819 10,758
Net expense from other real estate owned 20,421 13,055
Marketing and business promotion 10,033 9,389
Deposit insurance 6,828 6,350
Other 57,036 51,741
Total noninterest expense 379,840 347,164
Income before income taxes 305,118 275,281
Income tax expense 64,508 58,927
Net income $240,610 $216,354
Per Common Share Data:
Net income-basic $7.22 $6.55
Net income-diluted 7.11 6.44
Cash dividends declared 1.90 1.78
Common shares outstanding 33,539,032 33,216,519
Average common shares outstanding -
Basic 33,306,040 33,055,152
Diluted 33,837,333 33,617,015
Performance Ratios:
Return on average assets 1.70 % 1.68 %
Return on average stockholders' equity 13.93 14.23
Net interest margin 3.74 3.73
Efficiency ratio 55.00 54.98
BancFirst Corporation
Consolidated Average Balance Sheets
And Interest Margin Analysis
Taxable Equivalent Basis
(Dollars in thousands - Unaudited)
Three Months Ended Twelve Months Ended
December 31, 2025 December 31, 2025
Interest Average Interest Average
Average Income/ Yield/ Average Income/ Yield/
Balance Expense Rate Balance Expense Rate
ASSETS
Earning assets:
Loans $8,361,327 $145,747 6.92 $8,161,998 $566,155 6.94
% %
Securities - taxable 990,344 6,269 2.51 1,096,087 26,676 2.43
Securities - tax exempt 4,523 48 4.17 2,523 103 4.07
Interest bearing deposits with banks and FFS 4,324,507 43,050 3.95 3,887,286 168,067 4.32
Total earning assets 13,680,701 195,114 5.66 13,147,894 761,001 5.79
Nonearning assets:
Cash and due from banks 219,243 212,530
Interest receivable and other assets 913,585 873,924
Allowance for credit losses (102,881) (99,488)
Total nonearning assets 1,029,947 986,966
Total assets $14,710,648 $14,134,860
LIABILITIES AND STOCKHOLDERS' EQUITY
Interest bearing liabilities:
Money market and interest-bearing checking deposits $5,529,879 $39,587 2.84 $5,385,919 $162,133 3.01
% %
Savings deposits 1,283,474 9,156 2.83 1,209,949 37,193 3.07
Time deposits 1,745,324 17,342 3.94 1,609,022 65,986 4.10
Short-term borrowings 13,327 131 3.91 7,046 289 4.10
Long-term borrowings 9,750 44 1.79 2,458 44 1.79
Subordinated debt 86,206 1,031 4.74 86,184 4,122 4.78
Total interest bearing liabilities 8,667,960 67,291 3.08 8,300,578 269,767 3.25
Interest free funds:
Noninterest bearing deposits 4,027,236 3,937,258
Interest payable and other liabilities 202,158 170,203
Stockholders' equity 1,813,294 1,726,821
Total interest free funds 6,042,688 5,834,282
Total liabilities and stockholders' equity $14,710,648 $14,134,860
Net interest income $127,823 $491,234
Net interest spread 2.58 2.54
% %
Effect of interest free funds 1.13 1.20
% %
Net interest margin 3.71 3.74
% %
View original content:https://www.prnewswire.com/news-releases/bancfirst-corporation-reports-fourth-quarter-earnings-302668538.html
SOURCE BancFirst
For additional information call: Hannah Andrus, Chief Financial Officer at (405) 218-4174, or David Harlow, Chief Executive Officer at (405) 270-1082.