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BANCFIRST CORPORATION REPORTS THIRD QUARTER EARNINGS

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BancFirst CorporationOctober 21, 2026

OKLAHOMA CITY, Oct. 21, 2026 /PRNewswire/ — BancFirst Corporation (NASDAQ GS: BANF) reported net income of $67.3 million, or $1.97 per diluted share, for the third quarter of 2026 compared to net income of $62.7 million, or $1.85 per diluted share, for the third quarter of 2025. 

The Company’s net interest income for the three-months ending September 30, 2026 increased to $136.0 million from $125.6 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 3.85% for the third quarter of 2026 compared to 3.79% for the third quarter of 2025. The Company recorded a provision for credit losses of $3.1 million and $4.4 million for the quarters ended September 30, 2026 and 2025, respectively.

Noninterest income for the quarter totaled $51.4 million compared to $49.9 million for the same quarter last year. Service charges on deposits and treasury income each increased when compared to third quarter of 2025.

Noninterest expense grew to $98.2 million for the quarter ended September 30, 2026 compared to $92.1 million in the same quarter in 2025. The increase in noninterest expense was primarily attributable to the growth in salaries and employee benefits of $4.1 million.

At September 30, 2026, the Company’s total assets were $15.0 billion, an increase of $182.3 million from December 31, 2025. Loans grew $187.9 million from December 31, 2025, totaling $8.7 billion at September 30, 2026. Deposits totaled $12.7 billion, an increase of $29.3 million from year-end 2025. Sweep accounts totaled $4.7 billion at the end of the third quarter, down $282.5 million from December 31, 2025. The Company’s stockholders’ equity stood at $2.0 billion, an increase of $142.9 million from the end of 2025.

Nonaccrual loans represented 0.87% of total loans at September 30, 2026, up from 0.72% at year-end 2025. Nonaccrual loans totaled $75.6 million at the end of the third quarter 2026; one commercial loan was the primary driver of the nonaccrual loans balance. The allowance for credit losses to total loans was 1.23% at September 30, 2026 and 1.22% at December 31, 2025. Net charge-offs totaled $4.0 million for the quarter compared to $1.7 million for the third quarter last year. Of the $4.0 million net charge-offs for the quarter, $1.8 million was related to purchased credit deteriorated loans. At acquisition, the Company identified these loans as credit deteriorated and recorded reserves for expected credit losses. These loans performed in line with expectations subsequent to acquisition.

BancFirst Corporation CEO David Harlow commented, “Earnings for the quarter were strong, driven by growth in earning assets, a sustained margin, year-over-year growth in non-interest income combined with expenses in line with plan. Capital levels remain strong and the allowance for credit losses is ample – both at levels necessary to support the Company through future economic cycles. Asset quality metrics are stable and charge-offs remain in line with historical levels. While business development pipelines are encouraging, we expect higher interest rates and a higher-for-longer rate outlook to have a dampening effect on future economic activity. Our previously announced acquisition of Tulsa-based Spirit Bank is on schedule to close in October.”

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 108 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

2026

2025

2025


3rd Qtr  

2nd Qtr  

1st Qtr  

4th Qtr  

3rd Qtr  

 Condensed Income Statements:  









 Net interest income  

$                   135,999

$                   133,536

$                   127,605

$                   127,667

$                   125,615

 Provision for credit losses on loans 

3,203

4,831

2,578

(1,975)

4,222

Provision for/(benefit from) off-balance

sheet credit exposures

(110)

48

(435)

234

216

 Noninterest income:









Trust revenue

5,874

6,078

6,057

5,933

5,850

Service charges on deposits

19,308

19,090

18,042

18,393

18,131

Securities transactions

103

725

904

964

492

Sales of loans

800

913

780

781

916

Insurance commissions

8,680

7,481

9,440

7,643

8,954

Cash management

10,933

10,922

10,566

10,120

10,338

Other

5,688

8,740

5,602

9,499

5,185

Total noninterest income  

51,386

53,949

51,391

53,333

49,866











 Noninterest expense:









Salaries and employee benefits

61,829

60,306

58,855

58,570

57,681

Occupancy expense, net

6,672

6,320

6,286

6,946

6,434

Depreciation

5,101

4,988

4,816

4,872

4,725

Amortization of intangible assets

975

974

975

836

862

Data processing services

3,043

2,990

3,448

3,041

2,901

Net expense from other real estate owned

2,420

4,567

3,605

12,044

2,778

Marketing and business promotion

2,311

2,077

2,641

3,121

2,126

Deposit insurance

1,775

1,642

1,847

1,692

1,736

Other

14,083

13,667

14,316

16,268

12,829

   Total noninterest expense  

98,209

97,531

96,789

107,390

92,072

 Income before income taxes  

86,083

85,075

80,064

75,351

78,971

 Income tax expense  

18,829

18,388

17,069

15,854

16,317

 Net income  

$                    67,254

$                    66,687

$                    62,995

$                    59,497

$                    62,654

 Per Common Share Data:  









 Net income-basic  

$                        2.00

$                        1.98

$                        1.88

$                        1.78

$                        1.88

 Net income-diluted  

1.97

1.96

1.85

1.75

1.85

 Cash dividends declared

0.52

0.49

0.49

0.49

0.49

 Common shares outstanding  

33,619,174

33,598,745

33,575,976

33,539,032

33,329,247

 Average common shares outstanding – 









   Basic 

33,610,010

33,586,922

33,557,536

33,423,922

33,310,290

   Diluted 

34,086,332

34,057,507

34,027,895

33,906,434

33,864,129

 Performance Ratios:  









 Return on average assets

1.76 %

1.77 %

1.71 %

1.60 %

1.76 %

 Return on average stockholders’ equity

13.42

13.84

13.59

13.02

14.18

 Net interest margin  

3.85

3.84

3.74

3.71

3.79

 Efficiency ratio  

52.41

52.02

54.07

59.33

52.47

 

BancFirst Corporation

Summary Financial Information

(Dollars in thousands, except per share and share data – Unaudited)













2026

2026

2026

2025

2025


3rd Qtr

2nd Qtr

1st Qtr  

4th Qtr

3rd Qtr

Balance Sheet Data:




















Total assets 

$   15,021,230

$   15,082,243

$   15,116,541

$   14,838,893

$   14,198,140

Interest-bearing deposits with banks

4,010,740

4,164,678

4,430,751

4,177,406

3,849,736

Debt securities 

1,100,934

1,113,240

886,519

924,948

1,015,941

Total loans 

8,732,546

8,655,260

8,596,068

8,544,634

8,287,167

Allowance for credit losses 

(107,048)

(107,810)

(105,330)

(104,299)

(99,511)

Noninterest-bearing demand deposits

4,049,891

4,162,306

4,105,840

3,897,613

3,816,389

Money market and interest-bearing checking deposits

5,400,606

5,442,757

5,605,932

5,610,882

5,393,791

Savings deposits

1,450,321

1,428,690

1,391,142

1,318,062

1,251,394

Time deposits

1,798,892

1,792,537

1,798,187

1,843,836

1,656,813

Total deposits 

12,699,710

12,826,290

12,901,101

12,670,393

12,118,387

Stockholders’ equity 

1,997,061

1,957,097

1,901,912

1,854,125

1,782,801

Book value per common share 

59.40

58.25

56.65

55.28

53.49

Tangible book value per common share (non-GAAP)(1) 

53.40

52.21

50.58

49.20

47.71

Balance Sheet Ratios: 









Average loans to deposits 

67.49 %

67.02 %

67.02 %

66.43 %

67.32 %

Average earning assets to total assets 

92.66

92.45

92.84

93.00

93.00

Average stockholders’ equity to average assets 

13.14

12.79

12.60

12.33

12.38

Asset Quality Data:









Past due loans

$           6,028

$           7,077

$           8,364

$           8,115

$           7,959

Nonaccrual loans (3)

75,620

81,420

62,178

61,130

57,266

Other real estate owned and repossessed assets

60,299

61,703

53,649

49,134

53,233

Nonaccrual loans to total loans

0.87 %

0.94 %

0.72 %

0.72 %

0.69 %

Allowance to total loans

1.23

1.25

1.23

1.22

1.20

Allowance to nonaccrual loans

141.56

132.41

169.40

170.62

173.77

Net charge-offs to average loans

0.04

0.03

0.02

0.02

0.02











Reconciliation of Tangible Book Value Per Common Share (non-GAAP)(2):















Stockholders’ equity 

$     1,997,061

$     1,957,097

$     1,901,912

$     1,854,125

$     1,782,801

Less goodwill

183,388

183,388

183,388

182,739

182,263

Less intangible assets, net

18,433

19,408

20,382

21,357

10,548

Tangible stockholders’ equity (non-GAAP)

$     1,795,240

$     1,754,301

$     1,698,142

$     1,650,029

$     1,589,990

Common shares outstanding

33,619,174

33,598,745

33,575,976

33,539,032

33,329,247

Tangible book value per common share (non-GAAP) 

$           53.40

$           52.21

$           50.58

$           49.20

$           47.71











(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 $4.1 million of nonaccrual loans at September 30, 2026.

 

BancFirst Corporation

Summary Financial Information

(Dollars in thousands, except per share and share data – Unaudited)







Nine months ended

September 30,


2026

2025

 Condensed Income Statements:  



 Net interest income  

$      397,140

$      362,820

 Provision for credit losses on loans 

10,612

6,922

 (Benefit from)/provision for off-balance sheet credit exposures

(497)

489

 Noninterest income:



Trust revenue

18,009

17,184

Service charges on deposits

56,440

52,676

Securities transactions

1,732

(581)

Sales of loans

2,493

2,382

Insurance commissions

25,601

27,284

Cash management

32,421

30,962

Other

20,030

16,901

Total noninterest income  

156,726

146,808





 Noninterest expense:



Salaries and employee benefits

180,990

167,421

Occupancy expense, net

19,278

18,224

Depreciation

14,905

14,224

Amortization of intangible assets

2,924

2,610

Data processing services

9,481

8,778

Net expense from other real estate owned

10,592

8,377

Marketing and business promotion

7,029

6,912

Deposit insurance

5,264

5,136

Other

42,066

40,768

Total noninterest expense  

292,529

272,450

 Income before income taxes  

251,222

229,767

 Income tax expense  

54,286

48,654

 Net income  

$      196,936

$      181,113

 Per Common Share Data:  



 Net income-basic  

$             5.86

$             5.44

 Net income-diluted  

5.78

5.36

 Cash dividends declared

1.50

1.41

 Common shares outstanding  

33,619,174

33,329,247

 Average common shares outstanding – 



   Basic 

33,585,015

33,266,315

   Diluted 

34,057,527

33,812,270

 Performance Ratios:  



 Return on average assets

1.75 %

1.74 %

 Return on average stockholders’ equity

13.62

14.26

 Net interest margin  

3.81

3.75

 Efficiency ratio  

52.82

53.46

 

BancFirst Corporation

Consolidated Average Balance Sheets

And Interest Margin Analysis

Taxable Equivalent Basis

(Dollars in thousands – Unaudited)















Three Months Ended

Nine Months Ended

September 30, 2026

September 30, 2026



Interest

Average



Interest

Average

Average

Income/

Yield/

Average

Income/

Yield/

Balance

Expense

Rate

Balance

Expense

Rate

ASSETS






Earning assets:












  Loans

$          8,667,984

$            150,005

6.87

%

$    8,610,147

$   442,335

6.87

%

  Securities – taxable

1,095,827

9,007

3.26

999,790

22,293

2.98

  Securities – tax exempt

6,486

64

3.92

6,925

198

3.82

  Interest bearing deposits with banks and FFS

4,247,434

40,003

3.74

4,327,537

120,127

3.71

     Total earning assets

14,017,731

199,079

5.63

13,944,399

584,953

5.61














Nonearning assets:












  Cash and due from banks

208,416





217,024




  Interest receivable and other assets

1,008,461





994,958




  Allowance for credit losses

(106,823)





(105,469)




     Total nonearning assets

1,110,054





1,106,513




     Total assets

$        15,127,785





$  15,050,912


















LIABILITIES AND STOCKHOLDERS’ EQUITY






Interest bearing liabilities:












  Money market and interest-bearing checking deposits

$          5,480,251

$              35,611

2.58

%

$    5,524,357

$   105,531

2.55

%

  Savings deposits

1,445,206

9,871

2.71

1,401,712

28,276

2.70

  Time deposits

1,798,060

16,192

3.57

1,811,110

49,609

3.66

  Short-term borrowings

6,007

29

1.94

11,600

273

3.15

  Long-term borrowings

–

–

–

2,026

42

2.77

  Subordinated debt

86,247

1,030

4.74

86,233

3,091

4.79

  Other liabilities

16,769

201

4.76

16,747

533

4.26

     Total interest bearing liabilities

8,832,540

62,934

2.83

8,853,785

187,355

2.83














Interest free funds:












  Noninterest bearing deposits

4,119,209





4,079,560




  Interest payable and other liabilities

188,240





184,104




Equity

1,987,796





1,933,463




     Total interest free  funds

6,295,245





6,197,127




     Total liabilities and stockholders’ equity

$        15,127,785





$  15,050,912




Net interest income

$            136,145





$   397,598


Net interest spread



2.80

%




2.78

%

Effect of interest free funds



1.05

%




1.03

%

Net interest margin



3.85

%




3.81

%














 

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SOURCE BancFirst Corporation

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