OKLAHOMA CITY, April 15, 2021 /PRNewswire/ -- BancFirst
Corporation (NASDAQ GS:BANF) reported net income of $42.5 million, or $1.27 diluted earnings per share, for the first
quarter of 2021 compared to net income of $22.6 million, or $0.68 diluted earnings per share, for the first
quarter of 2020. For the first quarter of 2021, no provision
for credit losses was recorded, compared to a provision for credit
losses of $19.6 million for the first
quarter of 2020.
BancFirst Corporation Executive Chairman David Rainbolt commented, "Clearly the worst
case scenarios for credit losses resulting from the pandemic are
off the table. The consequence is that large reserve balances from
last year's provisions do not need to be augmented. Moreover, if
the economy continues to progress, we will likely see reversal of
those provisions to some degree over the balance of the year."
The Company's net interest income for the first quarter of 2021
increased to $77.2 million compared
to $74.1 million for the first
quarter of 2020. Net interest income increased for the first
quarter of 2021 due to loan growth, PPP fee income of approximately
$9.5 million and the decrease in
interest rates paid on deposits. The net interest margin for the
quarter was 3.36% compared to 3.82% a year ago. Noninterest income
for the quarter totaled $39.9
million, compared to $35.1
million last year. The increase in noninterest income was
due to a gain from the sale of the Company's Hugo, Oklahoma branch of $2.5 million, $2.4
million in rental income from a real estate property
foreclosed on in the fourth quarter of 2020, and a $1.2 million increase in income from sales of
mortgage loans, which were partially offset by a $1.3 million decrease in treasury management
income. Noninterest expense for the quarter increased to
$65.0 million compared to
$61.4 million last year because of
$1.4 million of expenses related to
the aforementioned foreclosed property, and a $2.2 million gain on the sale of other real
estate owned in the first quarter of 2020 that reduced noninterest
expense. The Company's effective tax rate was 18.5% compared to
20.0% for the first quarter of 2020.
At March 31, 2021, the Company's
total assets were $10.5 billion, an
increase of $1.3 billion from
December 31, 2020. Debt securities of
$520.5 million were down $34.7 million from December 31, 2020. Loans totaled $6.4 billion, a decrease of $68.1 million from December 31, 2020 partially due to approximately
$21 million of loans that were sold
with the Company's Hugo, Oklahoma
branch. Deposits totaled $9.4
billion, an increase of $1.3
billion from December 31,
2020. The increase in assets and deposits was primarily
related to the Paycheck Protection Program (PPP) and other
government stimulus payments. At March 31,
2021, the balance of the PPP loans was $713.7 million. The Company's total stockholders'
equity was $1.1 billion, an increase
of $26.8 million over December 31, 2020. Off-balance sheet sweep
accounts were $2.2 billion at
March 31, 2021 compared to
$2.7 billion at December 31, 2020.
Nonaccrual loans represent 0.55% of total loans at March 31, 2021, down from 0.58% at year-end 2020.
Net charge-offs for the quarter were 0.01% of average loans,
compared to 0.02% of average loans for the first quarter of
2020. The allowance for credit losses to total loans was
1.42% at both March 31, 2021 and
year-end 2020, and the allowance for credit losses to nonaccrual
loans was 257.20% compared to 243.35% at year-end 2020.
On February 19, 2021, the Company
entered into a purchase and assumption agreement with The First
National Bank and Trust Company of Vinita, Oklahoma to purchase certain of its
assets and assume its deposits and certain other obligations. The
First National Bank and Trust Company of Vinita is a nationally chartered bank with
banking locations in Vinita and
Grove, Oklahoma. These banking
locations would become branches of BancFirst. As of December 31, 2020, The First National Bank and
Trust Company of Vinita had
approximately $285 million in total
assets, $209 million in loans, and
$258 million in deposits. The
purchase and assumption is expected to be completed during the
second quarter of 2021 and is subject to regulatory approval.
BancFirst Corporation CEO David
Harlow commented, "Government stimulus continued to inject
liquidity into the economy and drive deposit totals materially
higher. Absent PPP, overall loan demand continues to be
soft. PPP fees generated from both round 1 and round 2
bolstered net interest income while both core non-interest income
and core non-interest expense were essentially flat. With
zero provision for the quarter compared to $19.6 million a year ago, a nominally strong
quarter at $1.28 per share is the
result."
BancFirst Corporation (the Company) is an Oklahoma based financial services holding
company. The Company operates two subsidiary banks,
BancFirst, an Oklahoma
state-chartered bank with 106 banking locations serving 58
communities across Oklahoma, and
Pegasus Bank, with 3 banking locations in Dallas, TX. 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)
|
|
|
|
2021
|
|
|
2020
|
|
|
2020
|
|
|
2020
|
|
|
2020
|
|
|
|
1st
Qtr
|
|
|
4th
Qtr
|
|
|
3rd
Qtr
|
|
|
2nd
Qtr
|
|
|
1st
Qtr
|
|
Condensed
Income Statements:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest
income
|
|
$
|
77,206
|
|
|
$
|
79,535
|
|
|
$
|
75,852
|
|
|
$
|
77,208
|
|
|
$
|
74,073
|
|
Provision for
credit losses
|
|
|
—
|
|
|
|
4,992
|
|
|
|
18,740
|
|
|
|
19,333
|
|
|
|
19,583
|
|
Non-interest
income:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trust
revenue
|
|
|
3,102
|
|
|
|
2,976
|
|
|
|
3,131
|
|
|
|
3,368
|
|
|
|
3,655
|
|
Service charges on
deposits
|
|
|
19,100
|
|
|
|
19,796
|
|
|
|
19,078
|
|
|
|
16,760
|
|
|
|
18,804
|
|
Securities
transactions
|
|
|
95
|
|
|
|
156
|
|
|
|
—
|
|
|
|
(595)
|
|
|
|
50
|
|
Income from sales of
loans
|
|
|
2,010
|
|
|
|
1,852
|
|
|
|
1,873
|
|
|
|
1,561
|
|
|
|
781
|
|
Insurance
commissions
|
|
|
5,989
|
|
|
|
5,680
|
|
|
|
5,197
|
|
|
|
4,443
|
|
|
|
5,676
|
|
Cash
management
|
|
|
3,003
|
|
|
|
3,135
|
|
|
|
3,701
|
|
|
|
4,255
|
|
|
|
4,320
|
|
Other
|
|
|
6,636
|
|
|
|
1,825
|
|
|
|
1,595
|
|
|
|
2,290
|
|
|
|
1,859
|
|
Total noninterest
income
|
|
|
39,935
|
|
|
|
35,420
|
|
|
|
34,575
|
|
|
|
32,082
|
|
|
|
35,145
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-interest
expense:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Salaries and employee
benefits
|
|
|
39,577
|
|
|
|
40,750
|
|
|
|
41,995
|
|
|
|
42,226
|
|
|
|
39,756
|
|
Occupancy expense,
net
|
|
|
4,348
|
|
|
|
4,533
|
|
|
|
4,503
|
|
|
|
3,839
|
|
|
|
3,546
|
|
Depreciation
|
|
|
3,877
|
|
|
|
3,779
|
|
|
|
3,795
|
|
|
|
3,544
|
|
|
|
3,491
|
|
Amortization of
intangible assets
|
|
|
793
|
|
|
|
915
|
|
|
|
968
|
|
|
|
968
|
|
|
|
964
|
|
Data processing
services
|
|
|
1,678
|
|
|
|
1,763
|
|
|
|
1,669
|
|
|
|
1,629
|
|
|
|
1,692
|
|
Net expense from other
real estate owned
|
|
|
1,510
|
|
|
|
420
|
|
|
|
196
|
|
|
|
(12)
|
|
|
|
(2,135)
|
|
Marketing and business
promotion
|
|
|
1,879
|
|
|
|
1,671
|
|
|
|
1,485
|
|
|
|
1,485
|
|
|
|
2,355
|
|
Deposit
insurance
|
|
|
876
|
|
|
|
857
|
|
|
|
723
|
|
|
|
365
|
|
|
|
136
|
|
Other
|
|
|
10,425
|
|
|
|
10,923
|
|
|
|
10,749
|
|
|
|
10,607
|
|
|
|
11,580
|
|
Total
noninterest expense
|
|
|
64,963
|
|
|
|
65,611
|
|
|
|
66,083
|
|
|
|
64,651
|
|
|
|
61,385
|
|
Income before
income taxes
|
|
|
52,178
|
|
|
|
44,352
|
|
|
|
25,604
|
|
|
|
25,306
|
|
|
|
28,250
|
|
Income tax
expense
|
|
|
9,658
|
|
|
|
8,994
|
|
|
|
4,714
|
|
|
|
4,576
|
|
|
|
5,642
|
|
Net
income
|
|
$
|
42,520
|
|
|
$
|
35,358
|
|
|
$
|
20,890
|
|
|
$
|
20,730
|
|
|
$
|
22,608
|
|
Per Common
Share Data:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
income-basic
|
|
$
|
1.30
|
|
|
$
|
1.08
|
|
|
$
|
0.64
|
|
|
$
|
0.64
|
|
|
$
|
0.69
|
|
Net
income-diluted
|
|
|
1.27
|
|
|
|
1.06
|
|
|
|
0.63
|
|
|
|
0.63
|
|
|
|
0.68
|
|
Cash dividends
declared
|
|
|
0.34
|
|
|
|
0.34
|
|
|
|
0.34
|
|
|
|
0.32
|
|
|
|
0.32
|
|
Common shares
outstanding
|
|
|
32,771,013
|
|
|
|
32,719,852
|
|
|
|
32,679,191
|
|
|
|
32,662,691
|
|
|
|
32,646,691
|
|
Average common
shares outstanding -
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
|
32,756,852
|
|
|
|
32,690,296
|
|
|
|
32,668,789
|
|
|
|
32,651,262
|
|
|
|
32,679,587
|
|
Diluted
|
|
|
33,408,116
|
|
|
|
33,275,550
|
|
|
|
33,168,938
|
|
|
|
33,075,493
|
|
|
|
33,287,359
|
|
Performance
Ratios:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Return on
average assets
|
|
|
1.69
|
%
|
|
|
1.45
|
%
|
|
|
0.86
|
%
|
|
|
0.88
|
%
|
|
|
1.07
|
%
|
Return on
average stockholders' equity
|
|
|
15.90
|
|
|
|
13.25
|
|
|
|
7.89
|
|
|
|
7.99
|
|
|
|
8.87
|
|
Net interest
margin
|
|
|
3.36
|
|
|
|
3.54
|
|
|
|
3.40
|
|
|
|
3.54
|
|
|
|
3.82
|
|
Efficiency
ratio
|
|
|
55.46
|
|
|
|
57.08
|
|
|
|
59.84
|
|
|
|
59.16
|
|
|
|
56.20
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BancFirst Corporation
|
|
|
Summary Financial
Information
|
|
|
(Dollars in
thousands, except per share and share data -
Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2021
|
|
|
2020
|
|
|
2020
|
|
|
2020
|
|
|
2020
|
|
|
|
|
1st
Qtr
|
|
|
4th
Qtr
|
|
|
3rd
Qtr
|
|
|
2nd
Qtr
|
|
|
1st
Qtr
|
|
|
Balance Sheet
Data:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
assets
|
|
$
|
10,549,305
|
|
|
$
|
9,212,357
|
|
|
$
|
9,618,868
|
|
|
$
|
9,612,453
|
|
|
$
|
8,669,096
|
|
|
Interest-bearing
deposits with banks
|
|
|
2,788,316
|
|
|
|
1,336,394
|
|
|
|
1,609,462
|
|
|
|
1,583,116
|
|
|
|
1,356,826
|
|
|
Debt
securities
|
|
|
520,543
|
|
|
|
555,196
|
|
|
|
596,941
|
|
|
|
608,031
|
|
|
|
591,987
|
|
|
Total
loans
|
|
|
6,380,108
|
|
|
|
6,448,225
|
|
|
|
6,660,694
|
|
|
|
6,696,856
|
|
|
|
6,006,065
|
|
|
Allowance for credit
losses
|
|
|
(90,860)
|
|
|
|
(91,366)
|
|
|
|
(106,126)
|
|
|
|
(89,500)
|
|
|
|
(70,080)
|
|
|
Deposits
|
|
|
9,371,940
|
|
|
|
8,064,704
|
|
|
|
8,495,891
|
|
|
|
8,486,671
|
|
|
|
7,573,200
|
|
|
Stockholders'
equity
|
|
|
1,094,671
|
|
|
|
1,067,885
|
|
|
|
1,043,752
|
|
|
|
1,034,199
|
|
|
|
1,023,380
|
|
|
Book value per common
share
|
|
|
33.40
|
|
|
|
32.64
|
|
|
|
31.94
|
|
|
|
31.66
|
|
|
|
31.35
|
|
|
Tangible book value
per common share (non-GAAP)(1)
|
|
|
28.27
|
|
|
|
27.47
|
|
|
|
26.74
|
|
|
|
26.43
|
|
|
|
26.09
|
|
|
Balance Sheet
Ratios:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average loans to
deposits
|
|
|
70.84
|
%
|
|
|
77.02
|
%
|
|
|
78.55
|
%
|
|
|
79.78
|
%
|
|
|
77.75
|
%
|
|
Average earning
assets to total assets
|
|
|
91.54
|
|
|
|
91.82
|
|
|
|
91.99
|
|
|
|
92.23
|
|
|
|
91.51
|
|
|
Average stockholders'
equity to average assets
|
|
|
10.64
|
|
|
|
10.91
|
|
|
|
10.90
|
|
|
|
10.96
|
|
|
|
12.02
|
|
|
Asset Quality
Data:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Past due
loans
|
|
$
|
5,282
|
|
|
$
|
4,802
|
|
|
$
|
6,412
|
|
|
$
|
5,382
|
|
|
$
|
10,065
|
|
|
Nonaccrual loans
(5)
|
|
|
35,326
|
|
|
|
37,545
|
|
|
|
82,385
|
|
|
|
49,477
|
|
|
|
45,181
|
|
|
Restructured
loans
|
|
|
7,801
|
|
|
|
7,784
|
|
|
|
2,837
|
|
|
|
3,213
|
|
|
|
3,158
|
|
|
Total nonperforming
and restructured loans
|
|
|
48,409
|
|
|
|
50,131
|
|
|
|
91,634
|
|
|
|
58,072
|
|
|
|
58,404
|
|
|
Other real estate
owned and repossessed assets
|
|
|
30,320
|
|
|
|
32,480
|
|
|
|
4,939
|
|
|
|
4,948
|
|
|
|
6,001
|
|
|
Total nonperforming
and restructured assets
|
|
|
78,729
|
|
|
|
82,611
|
|
|
|
96,573
|
|
|
|
63,020
|
|
|
|
64,405
|
|
|
Nonaccrual loans to
total loans
|
|
|
0.55
|
%
|
|
|
0.58
|
%
|
|
|
1.24
|
%
|
|
|
0.74
|
%
|
|
|
0.75
|
%
|
|
Nonaccrual loans to
total Non-PPP loans (non-GAAP)(3)
|
|
|
0.62
|
|
|
|
0.65
|
|
|
|
1.41
|
|
|
|
0.84
|
|
|
|
0.75
|
|
|
Nonperforming and
restructured loans to total loans
|
|
|
0.76
|
|
|
|
0.78
|
|
|
|
1.38
|
|
|
|
0.87
|
|
|
|
0.97
|
|
|
Nonperforming and
restructured loans to total Non-PPP loans (non-GAAP)(3)
|
|
|
0.85
|
|
|
|
0.86
|
|
|
|
1.57
|
|
|
|
0.99
|
|
|
|
0.97
|
|
|
Nonperforming and
restructured assets to total assets
|
|
|
0.75
|
|
|
|
0.90
|
|
|
|
1.00
|
|
|
|
0.66
|
|
|
|
0.74
|
|
|
Allowance for credit
losses to total loans
|
|
|
1.42
|
|
|
|
1.42
|
|
|
|
1.59
|
|
|
|
1.34
|
|
|
|
1.17
|
|
|
Allowance for credit
losses to total Non-PPP loans (non-GAAP)(3)
|
|
|
1.60
|
|
|
|
1.58
|
|
|
|
1.82
|
|
|
|
1.52
|
|
|
|
1.17
|
|
|
Allowance for credit
losses to nonaccrual loans
|
|
|
257.20
|
|
|
|
243.35
|
|
|
|
128.82
|
|
|
|
180.89
|
|
|
|
155.11
|
|
|
Allowance for credit
losses to nonperforming and restructured loans
|
|
|
187.69
|
|
|
|
182.26
|
|
|
|
115.81
|
|
|
|
154.12
|
|
|
|
119.99
|
|
|
Net charge-offs to
average loans
|
|
|
0.01
|
|
|
|
0.30
|
|
|
|
0.03
|
|
|
|
0.00
|
|
|
|
0.02
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of
Tangible Book Value Per Common Share (non-GAAP)(2):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stockholders'
equity
|
|
$
|
1,094,671
|
|
|
$
|
1,067,885
|
|
|
$
|
1,043,752
|
|
|
$
|
1,034,199
|
|
|
$
|
1,023,380
|
|
|
Less
goodwill
|
|
|
149,922
|
|
|
|
149,922
|
|
|
|
149,922
|
|
|
|
149,922
|
|
|
|
149,923
|
|
|
Less intangible
assets, net
|
|
|
18,206
|
|
|
|
18,999
|
|
|
|
19,914
|
|
|
|
20,882
|
|
|
|
21,850
|
|
|
Tangible
stockholders' equity (non-GAAP)
|
|
$
|
926,543
|
|
|
$
|
898,964
|
|
|
$
|
873,916
|
|
|
$
|
863,395
|
|
|
$
|
851,607
|
|
|
Common shares
outstanding
|
|
|
32,771,013
|
|
|
|
32,719,852
|
|
|
|
32,679,191
|
|
|
|
32,662,691
|
|
|
|
32,646,691
|
|
|
Tangible book value
per common share (non-GAAP)
|
|
$
|
28.27
|
|
|
$
|
27.47
|
|
|
$
|
26.74
|
|
|
$
|
26.43
|
|
|
$
|
26.09
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(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.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of
Non-PPP loan ratios (non-GAAP)(4):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
loans
|
|
$
|
6,380,108
|
|
|
$
|
6,448,225
|
|
|
$
|
6,660,694
|
|
|
$
|
6,696,856
|
|
|
$
|
6,006,065
|
|
|
Less PPP
loans
|
|
|
713,714
|
|
|
|
652,693
|
|
|
|
831,703
|
|
|
|
825,093
|
|
|
|
—
|
|
|
Total Non-PPP loans
(non-GAAP)
|
|
$
|
5,666,394
|
|
|
$
|
5,795,532
|
|
|
$
|
5,828,991
|
|
|
$
|
5,871,763
|
|
|
$
|
6,006,065
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nonaccrual loans
(5)
|
|
|
35,326
|
|
|
|
37,545
|
|
|
|
82,385
|
|
|
|
49,477
|
|
|
|
45,181
|
|
|
Nonaccrual loans to
total Non-PPP loans (non-GAAP)
|
|
|
0.62
|
%
|
|
|
0.65
|
%
|
|
|
1.41
|
%
|
|
|
0.84
|
%
|
|
|
0.75
|
%
|
|
Total nonperforming
and restructured loans
|
|
|
48,409
|
|
|
|
50,131
|
|
|
|
91,634
|
|
|
|
58,072
|
|
|
|
58,404
|
|
|
Nonperforming and
restructured loans to total Non-PPP loans (non-GAAP)
|
|
|
0.85
|
%
|
|
|
0.86
|
%
|
|
|
1.57
|
%
|
|
|
0.99
|
%
|
|
|
0.97
|
%
|
|
Allowance for credit
losses
|
|
|
(90,860)
|
|
|
|
(91,366)
|
|
|
|
(106,126)
|
|
|
|
(89,500)
|
|
|
|
(70,080)
|
|
|
Allowance for credit
losses to total Non-PPP loans (non-GAAP)
|
|
|
1.60
|
%
|
|
|
1.58
|
%
|
|
|
1.82
|
%
|
|
|
1.52
|
%
|
|
|
1.17
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(3) Refer
to the "Reconciliation of Non-PPP loan ratios
(non-GAAP)" Table.
|
|
|
(4) Nonaccrual loans to total Non-PPP
loans is nonaccrual loans, divided by total loans less Paycheck
Protection Program (PPP) loans. Nonperforming and restructured
loans to total Non-PPP loans is nonperforming and restructured
loans, divided by total loans less PPP loans. Allowance to total
Non-PPP loans is allowance for credit losses, divided by total
loans less PPP loans. These amounts are non-GAAP financial measures
but have been included as they are considered critical metrics with
which to analyze and evaluate the financial condition and capital
strength of the Company. These measures should not be considered
substitutes for operating results determined in accordance with
GAAP.
|
|
|
(5) Government
Agencies guarantee approximately $6.6 million of nonaccrual loans
at March 31, 2021.
|
|
BancFirst
Corporation
Consolidated
Average Balance Sheets
And Interest
Margin Analysis
Taxable Equivalent
Basis
(Dollars in
thousands - Unaudited)
|
|
|
|
Three Months
Ended
|
|
|
|
|
March 31,
2021
|
|
|
|
|
|
|
|
|
Interest
|
|
|
Average
|
|
|
|
|
Average
|
|
|
Income/
|
|
|
Yield/
|
|
|
|
|
Balance
|
|
|
Expense
|
|
|
Rate
|
|
|
ASSETS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earning
assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans
|
|
$
|
6,400,845
|
|
|
$
|
77,766
|
|
|
|
4.93
|
|
%
|
Securities
– taxable
|
|
|
521,698
|
|
|
|
1,693
|
|
|
1.32
|
|
|
Securities
– tax exempt
|
|
|
19,340
|
|
|
88
|
|
|
1.84
|
|
|
Interest
bearing deposits with banks and FFS
|
|
|
2,387,000
|
|
|
595
|
|
|
|
0.10
|
|
|
Total earning
assets
|
|
|
9,328,883
|
|
|
|
80,142
|
|
|
3.48
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nonearning
assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and due
from banks
|
|
|
268,848
|
|
|
|
|
|
|
|
|
|
|
Interest
receivable and other assets
|
|
|
683,868
|
|
|
|
|
|
|
|
|
|
|
Allowance for
credit losses
|
|
|
(90,551)
|
|
|
|
|
|
|
|
|
|
|
Total nonearning
assets
|
|
|
862,165
|
|
|
|
|
|
|
|
|
|
|
Total assets
|
|
$
|
10,191,048
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND
STOCKHOLDERS' EQUITY
|
Interest bearing
liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Transaction
deposits
|
|
$
|
766,994
|
|
|
$
|
149
|
|
|
0.08
|
|
%
|
Savings
deposits
|
|
|
3,504,020
|
|
|
|
1,106
|
|
|
0.13
|
|
|
Time
deposits
|
|
|
657,938
|
|
|
|
1,067
|
|
|
0.66
|
|
|
Short-term
borrowings
|
|
|
2,928
|
|
|
|
1
|
|
|
0.19
|
|
|
Junior
subordinated debentures
|
|
|
26,804
|
|
|
491
|
|
|
7.43
|
|
|
Total interest bearing
liabilities
|
|
|
4,958,684
|
|
|
|
2,814
|
|
|
0.23
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest free
funds:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest
bearing deposits
|
|
|
4,106,084
|
|
|
|
|
|
|
|
|
|
|
Interest
payable and other liabilities
|
|
|
41,522
|
|
|
|
|
|
|
|
|
|
|
Stockholders' equity
|
|
|
1,084,758
|
|
|
|
|
|
|
|
|
|
|
Total interest free
funds
|
|
|
5,232,364
|
|
|
|
|
|
|
|
|
|
|
Total liabilities and
stockholders' equity
|
|
$
|
10,191,048
|
|
|
|
|
|
|
|
|
|
|
Net interest
income
|
|
|
|
|
|
$
|
77,328
|
|
|
|
|
|
|
Net interest
spread
|
|
|
|
|
|
|
|
|
|
3.25
|
|
%
|
Effect of interest
free funds
|
|
|
|
|
|
|
|
|
|
|
0.11
|
|
%
|
Net interest
margin
|
|
|
|
|
|
|
|
|
|
|
3.36
|
|
%
|
View original
content:http://www.prnewswire.com/news-releases/bancfirst-corporation-reports-first-quarter-earnings-301269984.html
SOURCE BancFirst