OKLAHOMA CITY, July 23, 2026 /PRNewswire/ -- BancFirst Corporation (NASDAQ GS: BANF) reported net income of $66.7 million, or $1.96 per diluted share, for the second quarter of 2026 compared to net income of $62.3 million, or $1.85 per diluted share, for the second quarter of 2025.
The Company's net interest income for the three-months ending June 30, 2026 increased to $133.5 million from $121.3 million for the same period in 2025. Higher loan volume and general growth in earning assets were the primary drivers of the change in net interest income. Net interest margin was 3.84% for the second quarter of 2026 compared to 3.75% for the second quarter of 2025. The Company recorded a provision for credit losses of $4.9 million and $1.4 million for the quarter ended June 30, 2026 and 2025, respectively.
Noninterest income for the quarter totaled $53.9 million compared to $48.0 million in the same quarter last year. Trust revenue, service charges on deposits, securities transactions, and treasury income each increased when compared to second quarter of 2025. The Company also recorded gains of $2.9 million related to bank owned life insurance claims during the quarter. The increase in noninterest income was partially offset by a decrease in insurance commissions.
Noninterest expense grew to $97.5 million for the quarter ended June 30, 2026 compared to $88.2 million in the same quarter in 2025. The increase in noninterest expense was primarily attributable to the growth in salaries and employee benefits of $5.2 million. The total salaries and employee benefits expenses recorded of $60.3 million is after a favorable adjustment to the funded employee benefit trust of $800,000. Also driving the increase in noninterest expense was net expense from other real estate owned, which increased $1.6 million period to period.
At June 30, 2026, the Company's total assets were $15.1 billion, an increase of $243.4 million from December 31, 2025. Loans grew $110.6 million from December 31, 2025, totaling $8.7 billion at June 30, 2026. Deposits totaled $12.8 billion, an increase of $155.9 million from year-end 2025. Sweep accounts totaled $5.0 billion at June 30, 2026, up $100.8 million from December 31, 2025. The Company's stockholders' equity stood at $2.0 billion, an increase of $103.0 million from the end of 2025.
Nonaccrual loans represented 0.94% of total loans at June 30, 2026, up from 0.72% at year-end 2025. Nonaccrual loans totaled $81.4 million at the end of the second quarter 2026. The allowance for credit losses to total loans was 1.25% at June 30, 2026 and 1.22% at December 31, 2025. Net charge-offs totaled $2.4 million for the quarter compared to $4.7 million for the second quarter last year.
BancFirst Corporation CEO David Harlow commented, "The Company enjoyed a record quarter fueled by an expanding margin and earning asset growth. Noninterest income growth was solid across most major categories and expenses were managed in line with plan. We announced the acquisition of SpiritBank during the quarter, adding the Tulsa MSA communities of Bristow and Sapulpa while expanding our presence in the Tulsa market. Pending regulatory approval, a fourth quarter close and conversion is anticipated. Our economic outlook continues to be guarded, although charge-offs remain at historically low levels. With a $4.9 million provision during the quarter, our allowance for credit losses remains at a healthy level."
BancFirst Corporation (the Company) is an Oklahoma based financial services holding company. The Company operates three subsidiary banks, BancFirst, an Oklahoma state-chartered bank with 109 banking locations serving 62 communities across Oklahoma, Pegasus Bank, a Texas state-chartered bank with three banking locations in the Dallas Metroplex area, and 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. 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)
2026 2026 2025 2025 2025
2nd Qtr 1st Qtr 4th Qtr 3rd Qtr 2nd Qtr
Condensed Income Statements:
Net interest income $133,536 $127,605 $127,667 $125,615 $121,256
Provision for credit losses on loans 4,831 2,578 (1,975) 4,222 1,239
Provision for/(benefit from) off-balance sheet credit exposures 48 (435) 234 216 148
Noninterest income:
Trust revenue 6,078 6,057 5,933 5,850 5,795
Service charges on deposits 19,090 18,042 18,393 18,131 17,741
Securities transactions 725 904 964 492 (740)
Sales of loans 913 780 781 916 830
Insurance commissions 7,481 9,440 7,643 8,954 7,920
Cash management 10,922 10,566 10,120 10,338 10,573
Other 8,740 5,602 9,499 5,185 5,929
Total noninterest income 53,949 51,391 53,333 49,866 48,048
Noninterest expense:
Salaries and employee benefits 60,306 58,855 58,570 57,681 55,147
Occupancy expense, net 6,320 6,286 6,946 6,434 6,037
Depreciation 4,988 4,816 4,872 4,725 4,691
Amortization of intangible assets 974 975 836 862 862
Data processing services 2,990 3,448 3,041 2,901 2,985
Net expense from other real estate owned 4,567 3,605 12,044 2,778 2,941
Marketing and business promotion 2,077 2,641 3,121 2,126 2,325
Deposit insurance 1,642 1,847 1,692 1,736 1,675
Other 13,667 14,316 16,268 12,829 11,536
Total noninterest expense 97,531 96,789 107,390 92,072 88,199
Income before income taxes 85,075 80,064 75,351 78,971 79,718
Income tax expense 18,388 17,069 15,854 16,317 17,371
Net income $66,687 $62,995 $59,497 $62,654 $62,347
Per Common Share Data:
Net income-basic $1.98 $1.88 $1.78 $1.88 $1.87
Net income-diluted 1.96 1.85 1.75 1.85 1.85
Cash dividends declared 0.49 0.49 0.49 0.49 0.46
Common shares outstanding 33,598,745 33,575,976 33,539,032 33,329,247 33,272,131
Average common shares outstanding -
Basic 33,586,922 33,557,536 33,423,922 33,310,290 33,255,015
Diluted 34,057,507 34,027,895 33,906,434 33,864,129 33,795,243
Performance Ratios:
Return on average assets 1.77 % 1.71 % 1.60 % 1.76 % 1.79 %
Return on average stockholders' equity 13.84 13.59 13.02 14.18 14.74
Net interest margin 3.84 3.74 3.71 3.79 3.75
Efficiency ratio 52.02 54.07 59.33 52.47 52.10
BancFirst Corporation
Summary Financial Information
(Dollars in thousands, except per share and share data - Unaudited)
2026 2026 2025 2025 2025
2nd Qtr 1st Qtr 4th Qtr 3rd Qtr 2nd Qtr
Balance Sheet Data:
Total assets $15,082,243 $15,116,541 $14,838,893 $14,198,140 $14,045,780
Interest-bearing deposits with banks 4,164,678 4,430,751 4,177,406 3,849,736 3,737,763
Debt securities 1,113,240 886,519 924,948 1,015,941 1,104,604
Total loans 8,655,260 8,596,068 8,544,634 8,287,167 8,124,497
Allowance for credit losses (107,810) (105,330) (104,299) (99,511) (96,988)
Noninterest-bearing demand deposits 4,162,306 4,105,840 3,897,613 3,816,389 3,967,626
Money market and interest-bearing checking deposits 5,442,757 5,605,932 5,610,882 5,393,791 5,301,439
Savings deposits 1,428,690 1,391,142 1,318,062 1,251,394 1,205,602
Time deposits 1,792,537 1,798,187 1,843,836 1,656,813 1,581,525
Total deposits 12,826,290 12,901,101 12,670,393 12,118,387 12,056,192
Stockholders' equity 1,957,097 1,901,912 1,854,125 1,782,801 1,728,038
Book value per common share 58.25 56.65 55.28 53.49 51.94
Tangible book value per common share (non-GAAP)(1) 52.21 50.58 49.20 47.71 46.12
Balance Sheet Ratios:
Average loans to deposits 67.02 % 67.02 % 66.43 % 67.32 % 67.11 %
Average earning assets to total assets 92.45 92.84 93.00 93.00 92.97
Average stockholders' equity to average assets 12.79 12.60 12.33 12.38 12.14
Asset Quality Data:
Past due loans $7,077 $8,364 $8,115 $7,959 $7,515
Nonaccrual loans (3) 81,420 62,178 61,130 57,266 49,878
Other real estate owned and repossessed assets 61,703 53,649 49,134 53,233 53,022
Nonaccrual loans to total loans 0.94 % 0.72 % 0.72 % 0.69 % 0.61 %
Allowance to total loans 1.25 1.23 1.22 1.20 1.19
Allowance to nonaccrual loans 132.41 169.40 170.62 173.77 194.45
Net charge-offs to average loans 0.03 0.02 0.02 0.02 0.05
Reconciliation of Tangible Book Value Per Common Share (non-GAAP)(2):
Stockholders' equity $1,957,097 $1,901,912 $1,854,125 $1,782,801 $1,728,038
Less goodwill 183,388 183,388 182,739 182,263 182,263
Less intangible assets, net 19,408 20,382 21,357 10,548 11,410
Tangible stockholders' equity (non-GAAP) $1,754,301 $1,698,142 $1,650,029 $1,589,990 $1,534,365
Common shares outstanding 33,598,745 33,575,976 33,539,032 33,329,247 33,272,131
Tangible book value per common share (non-GAAP) $52.21 $50.58 $49.20 $47.71 $46.12
(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 $7.9 million of nonaccrual loans at June 30, 2026.
BancFirst Corporation
Summary Financial Information
(Dollars in thousands, except per share and share data - Unaudited)
Six months ended
June 30,
2026 2025
Condensed Income Statements:
Net interest income $261,141 $237,205
Provision for credit losses on loans 7,409 2,700
(Benefit from)/provision for off-balance sheet credit exposures (387) 273
Noninterest income:
Trust revenue 12,135 11,334
Service charges on deposits 37,132 34,545
Securities transactions 1,629 (1,073)
Sales of loans 1,693 1,466
Insurance commissions 16,921 18,330
Cash management 21,488 20,624
Other 14,342 11,716
Total noninterest income 105,340 96,942
Noninterest expense:
Salaries and employee benefits 119,161 109,740
Occupancy expense, net 12,606 11,790
Depreciation 9,804 9,499
Amortization of intangible assets 1,949 1,748
Data processing services 6,438 5,877
Net expense from other real estate owned 8,172 5,599
Marketing and business promotion 4,718 4,786
Deposit insurance 3,489 3,400
Other 27,983 27,939
Total noninterest expense 194,320 180,378
Income before income taxes 165,139 150,796
Income tax expense 35,457 32,337
Net income $129,682 $118,459
Per Common Share Data:
Net income-basic $3.86 $3.56
Net income-diluted 3.81 3.51
Cash dividends declared 0.98 0.92
Common shares outstanding 33,598,745 33,272,131
Average common shares outstanding -
Basic 33,572,310 33,243,963
Diluted 34,040,322 33,782,069
Performance Ratios:
Return on average assets 1.74 % 1.73 %
Return on average stockholders' equity 13.72 14.31
Net interest margin 3.79 3.72
Efficiency ratio 53.02 53.98
BancFirst Corporation
Consolidated Average Balance Sheets
And Interest Margin Analysis
Taxable Equivalent Basis
(Dollars in thousands - Unaudited)
Three Months Ended Six Months Ended
June 30, 2026 June 30, 2026
Interest Average Interest Average
Average Income/ Yield/ Average Income/ Yield/
Balance Expense Rate Balance Expense Rate
ASSETS
Earning assets:
Loans $8,610,837 $148,013 6.89 $8,580,750 $292,330 6.87
% %
Securities - taxable 999,677 7,413 2.97 950,975 13,286 2.82
Securities - tax exempt 6,756 68 4.01 7,148 134 3.77
Interest bearing deposits with banks and FFS 4,343,973 40,042 3.70 4,368,252 80,124 3.70
Total earning assets 13,961,243 195,536 5.62 13,907,125 385,874 5.60
Nonearning assets:
Cash and due from banks 217,300 221,400
Interest receivable and other assets 1,028,343 988,094
Allowance for credit losses (105,148) (104,780)
Total nonearning assets 1,140,495 1,104,714
Total assets $15,101,738 15,011,839
LIABILITIES AND STOCKHOLDERS' EQUITY
Interest bearing liabilities:
Money market and interest-bearing checking deposits $5,499,834 $34,602 2.52 $5,546,776 $69,920 2.54
% %
Savings deposits 1,408,443 9,467 2.70 1,379,604 18,405 2.69
Time deposits 1,815,864 16,445 3.63 1,817,743 33,417 3.71
Short-term borrowings 13,798 102 2.97 14,444 244 3.40
Long-term borrowings - 3,055 42 2.77
Subordinated debt 86,233 1,031 4.80 86,226 2,061 4.82
Other liabilities 16,747 199 4.76 16,736 332 4.00
Total interest bearing liabilities 8,840,919 61,846 2.81 8,864,584 124,421 2.83
Interest free funds:
Noninterest bearing deposits 4,123,897 4,059,407
Interest payable and other liabilities 204,942 182,001
Equity 1,931,980 1,905,847
Total interest free funds 6,260,819 6,147,255
Total liabilities and stockholders' equity $15,101,738 15,011,839
Net interest income $133,690 $261,453
Net interest spread 2.81 2.77
% %
Effect of interest free funds 1.03 1.02
% %
Net interest margin 3.84 3.79
% %
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SOURCE BancFirst Corporation
For additional information call: Hannah Andrus, Chief Financial Officer at (405) 218-4174 or David Harlow, Chief Executive Officer at (405) 270-1082