<SEC-DOCUMENT>0001144204-19-021197.txt : 20190425
<SEC-HEADER>0001144204-19-021197.hdr.sgml : 20190425
<ACCEPTANCE-DATETIME>20190425132028
ACCESSION NUMBER:		0001144204-19-021197
CONFORMED SUBMISSION TYPE:	8-K/A
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20190423
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20190425
DATE AS OF CHANGE:		20190425

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BANCFIRST CORP /OK/
		CENTRAL INDEX KEY:			0000760498
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		IRS NUMBER:				731221379
		STATE OF INCORPORATION:			OK
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-14384
		FILM NUMBER:		19766688

	BUSINESS ADDRESS:	
		STREET 1:		101 N BROADWAY STE 200
		CITY:			OKLAHOMA CITY
		STATE:			OK
		ZIP:			73102-8401
		BUSINESS PHONE:		4052701000

	MAIL ADDRESS:	
		STREET 1:		101 NORTH BROADWAY
		STREET 2:		STE 200
		CITY:			OKLAHOMA CITY
		STATE:			OK
		ZIP:			73102-8401

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	UNITED COMMUNITY CORP
		DATE OF NAME CHANGE:	19890401
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K/A
<SEQUENCE>1
<FILENAME>tv519696_8ka.htm
<DESCRIPTION>8-K/A
<TEXT>
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<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 12pt"><B>FORM
8-K/A</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Amendment No. 1)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 25%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 38%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Date of Report (Date of earliest event reported) </FONT></TD>
    <TD STYLE="width: 62%; border-bottom: Black 1pt solid; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">April 23, 2019</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.4pt; text-align: center">BANCFIRST CORPORATION</P>

<!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.4pt; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.4pt; text-align: center">(Exact name of registrant as specified
in its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; text-align: center; width: 33%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">OKLAHOMA</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center; width: 34%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0-14384</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center; width: 33%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">73-1221379</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(State or other jurisdiction </FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">of incorporation)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Commission</FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">File Number)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(I.R.S. Employer</FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Identification No.)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; text-align: center; width: 67%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">101
North Broadway, Oklahoma City, Oklahoma</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 33%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">73102</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Address of principal executive offices)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Zip Code)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 42%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Registrant&rsquo;s telephone number, including area code</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 58%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(405) 270-1086</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; width: 100%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Former name or former address, if changed since last report.)</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT> Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT> Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT> Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT> Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Emerging growth company <FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 13(a) of the Exchange Act. <FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This Amendment No. 1 to Form 8-K/A (&ldquo;Amendment
No. 1&rdquo;) is being filed to amend BancFirst Corporations Current Report on Form 8-K filed with the U.S. Securities and Exchange
Commission on April&nbsp;24, 2019 (&ldquo;Original 8-K&rdquo;). The purpose of this Amendment No. 1 is to include the information
required under Item&nbsp;9.01. <FONT STYLE="background-color: white">Except as provided herein, the disclosures made in the Original
8-K remain unchanged.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 1.01 Entry into a Material Definitive
Agreement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">BancFirst Corporation Enters Into Agreement To Acquire Pegasus
Bank.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On April 23, 2019 BancFirst
Corporation entered into an agreement to acquire Pegasus Bank (&ldquo;Pegasus&rdquo;), for an aggregate cash purchase price of
$122.0 million. Pegasus is a Texas chartered bank with three banking locations in Dallas, Texas. As of December 31, 2018, Pegasus
had approximately $639.1 million in total assets, $367.4 million in loans, and $595.3 million in deposits. The acquisition is expected
to be completed during August 2019 and is subject to regulatory approval. Upon acquisition, the Bank will continue to operate as
&ldquo;Pegasus Bank&rdquo; under a separate Texas charter and remain an independent subsidiary of BancFirst Corporation governed
by its existing board of directors. BancFirst Corporation intends to provide an appropriate amount of capital to increase Pegasus
Bank&rsquo;s ability to approve larger loans and allow Pegasus to continue to grow their assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">D.A. Davidson &amp;
Co. served as BancFirst Corporation&rsquo;s financial adviser for this transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 9.01. Financial Statements and
Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>(d)</B></TD><TD STYLE="text-align: justify"><B>Exhibits.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><A HREF="tv519696_ex2-1.htm" STYLE="-sec-extract: exhibit">2.1</A></TD><TD STYLE="text-align: justify"><A HREF="tv519696_ex2-1.htm" STYLE="-sec-extract: exhibit">Share Exchange Agreement by and between BancFirst Corporation
and Pegasus Bank dated April 23, 2019</A></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><U>BancFirst Corporation</U></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(Registrant)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">Date: <U>April 25, 2019</U></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">/s/ Kevin Lawrence</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Kevin Lawrence</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Executive Vice President</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Chief Financial Officer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



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<DOCUMENT>
<TYPE>EX-2.1
<SEQUENCE>2
<FILENAME>tv519696_ex2-1.htm
<DESCRIPTION>EXHIBIT 2.1
<TEXT>
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<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 2.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SHARE EXCHANGE AGREEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">between</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">BANCFIRST CORPORATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PEGASUS BANK</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Dallas, Texas</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">April 23, 2019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SHARE EXCHANGE AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TABLE OF CONTENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

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    <TD STYLE="vertical-align: bottom; width: 10%; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 78%; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 2%; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 10%; border-bottom: Black 1pt solid; text-align: center"><B>Page</B></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">ARTICLE I. DEFINITIONS</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">1.1</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Definitions</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">1</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">1.2</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Other Terms</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">6</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">1.3</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Other Definitional Provisions</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">6</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">ARTICLE II. THE SHARE EXCHANGE</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">7</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">2.1</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Effective Time of the Share Exchange</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">7</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">2.2</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Closing</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">7</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">2.3</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Effect of the Share Exchange</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">7</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">2.4</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Certificates of Incorporation and Bylaws</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">7</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">2.5</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Directors and Officers</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">7</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">2.6</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Deliveries at Closing</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">7</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">ARTICLE III. EFFECT OF THE SHARE EXCHANGE ON CAPITAL STOCK; SURRENDER OF CERTIFICATES</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">9</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">3.1</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Effect on Capital Stock</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">9</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">3.2</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Appraisal Rights</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">9</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">3.3</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Surrender of Certificates; Paying Agent</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">9</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">3.4</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Final Dividend Paying Agent</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">11</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">ARTICLE IV. REPRESENTATIONS AND WARRANTIES OF THE BANK</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">12</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">4.1</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Capital Structure of Pegasus</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">12</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">4.2</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Organization, Standing and Authority of Pegasus</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">12</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">4.3</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Subsidiaries</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">12</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">4.4</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Authorized and Effective Agreement; Consents and Approvals</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">13</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">4.5</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Regulatory Reports and Agreements</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">14</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">4.6</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Pegasus Financial Statements</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">14</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">4.7</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">No Material Adverse Change</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">14</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">4.8</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Environmental Matters</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">16</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">4.9</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Tax Matters</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">17</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">4.10</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Legal Proceedings</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">17</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">4.11</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Compliance with Laws</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">17</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">4.12</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Employee Matters and ERISA</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">18</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">4.13</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Certain Contracts</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">19</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">4.14</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Brokers and Finders</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">20</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">4.15</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Insurance</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">20</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">4.16</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Properties</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">20</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">4.17</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Transactions with Affiliates</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">20</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">4.18</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Loans</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">21</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">4.19</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Intellectual Property</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">21</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">4.20</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Disclosures</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">21</TD></TR>
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<TR STYLE="background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">ARTICLE V. REPRESENTATIONS AND WARRANTIES OF BANCFIRST</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">22</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in; width: 10%">5.1</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; width: 78%">Organization, Standing and Authority</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in; width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in; width: 10%">22</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">5.2</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Authorized and Effective Agreement; Consents and Approvals</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">22</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">5.3</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Legal Proceedings</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">23</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">5.4</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Brokers and Finders</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">23</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">5.5</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Disclosures</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">23</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">ARTICLE VI. COVENANTS</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">24</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">6.1</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Commercially Reasonable Efforts</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">24</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">6.2</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Consents</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">24</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">6.3</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Investigation and Confidentiality</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">24</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">6.4</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Press Releases</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">25</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">6.5</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Business of Pegasus</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">25</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">6.6</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Shareholder Approval</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">29</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">6.7</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">No Solicitation</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">30</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">6.8</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Fees and Expenses</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">31</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">6.9</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Termination of Stock Option Plans</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">31</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">6.10</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Disclosure Supplements</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">31</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">6.11</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Failure to Fulfill Conditions</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">31</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">ARTICLE VII. CONDITIONS PRECEDENT</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">31</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">7.1</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Conditions Precedent &ndash; All Parties</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">31</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">7.2</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Conditions Precedent &ndash; Pegasus</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">32</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">7.3</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Conditions Precedent &ndash; BancFirst</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">32</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">ARTICLE VIII. TERMINATION, WAIVER AND AMENDMENT</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">33</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">8.1</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Termination</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">33</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">8.2</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Effect of Termination</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">34</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">8.3</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Survival of Representations, Warranties and Covenants</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">35</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">8.4</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Waiver</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">35</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">8.5</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Amendment or Supplement</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">35</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">ARTICLE IX. MISCELLANEOUS</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">35</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">9.1</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Expenses</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">35</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">9.2</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Entire Agreement</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">35</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">9.3</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Assignment; Successors; Third-Party Beneficiaries</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">35</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">9.4</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Specific Performance; Remedies Not Exclusive</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">36</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">9.5</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Attorneys&rsquo; Fees</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">36</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">9.6</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Notices</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">36</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">9.7</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Counterparts</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">37</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">9.8</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Alternative Structure</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">37</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">9.9</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Governing Law</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">37</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in; padding-left: 0.25in">9.10</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; text-indent: 0in">Further Assurances</TD>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0in">37</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12%; text-align: justify">Exhibit A</TD>
    <TD STYLE="width: 88%; text-align: justify">Form of Certificate of Exchange</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">Exhibit B</TD>
    <TD STYLE="text-align: justify">Form of Shareholder Voting Agreement</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">Exhibit C</TD>
    <TD STYLE="text-align: justify">Allowance Methodology</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SHARE EXCHANGE AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">THIS SHARE EXCHANGE AGREEMENT
(this &ldquo;<U>Agreement</U>&rdquo;) is made and entered into on this 23<SUP>rd</SUP> day of April, 2019, by and between BancFirst
Corporation, an Oklahoma corporation (&ldquo;<U>BancFirst</U>&rdquo;), and Pegasus Bank, Dallas, Texas, a Texas banking corporation
(&ldquo;<U>Pegasus</U>&rdquo;), with reference to the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">WITNESSETH:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, the Boards of
Directors of BancFirst and Pegasus have approved, and deem it advisable and in the best interests of their respective shareholders
to consummate, the business combination transaction provided for herein in which BancFirst will acquire all of the outstanding
shares of Pegasus (the &ldquo;<U>Share Exchange</U>&rdquo;) as provided by Section 10.051 of the Texas Business Organizations Code,
as amended (&ldquo;<U>TBOC</U>&rdquo;); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, concurrently
with the execution and delivery of this Agreement and as a condition and inducement to BancFirst&rsquo;s willingness to enter into
this Agreement, (a) each member of Pegasus&rsquo; Board of Directors who is also a shareholder is concurrently entering into a
Shareholder Voting Agreement (as defined below) with BancFirst pursuant to which such shareholder will agree to vote his or her
shares of Pegasus Common Stock (defined below) in favor of the Share Exchange, and (b) each of Joe Goyne and Harry Smith, the Chairman
and President, respectively, of Pegasus, are concurrently entering into a Retention and Restrictive Covenant Agreement (each, a
&ldquo;<U>Retention Agreement</U>&rdquo;) with BancFirst pursuant to which they are being encouraged by BancFirst to continue providing
services to Pegasus through the date of consummation of the Share Exchange; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, the parties
desire to make certain representations, warranties and agreements in connection with the Share Exchange and also to prescribe various
conditions to the Share Exchange.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">NOW, THEREFORE, in consideration
of the premises and of the mutual covenants, representations, warranties and agreements herein contained, the parties do hereby
agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">ARTICLE I.<BR>
DEFINITIONS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">1.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Definitions</U>.
As used in this Agreement, the following terms shall have the meanings set forth or referenced below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;Acquisition Consideration&rdquo;
shall mean an amount in cash equal to the sum of (a) $122,000,000, <U>plus</U> (b) the excess, if any, of (i) Pegasus Tangible
Shareholders Equity, <U>over</U> (ii) $45,000,000; <U>provided</U>, that the Acquisition Consideration shall be reduced by an amount
equal to the product of 2.71 <U>times</U> the amount, if any, that Pegasus Tangible Shareholders Equity is less than $45,000,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;Acquisition Consideration
Per Share&rdquo; shall mean (i) the Acquisition Consideration <U>divided by</U> (ii) the number of issued and outstanding shares
of Pegasus Common Stock at the Effective Time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;Acquisition Proposal&rdquo;
shall have the meaning set forth in <U>Section 6.7(a)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;Advisors&rdquo;
shall mean attorneys, accountants, investment bankers, financial consultants and other advisors and agents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;Affiliate&rdquo;
shall mean any person or entity that, directly or indirectly through one or more intermediaries, controls, is controlled by, or
is under common control with, a referenced person or entity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;Agreement&rdquo;
shall mean this Share Exchange Agreement, as amended, supplemented or otherwise modified.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;Allowance&rdquo;
shall mean the allowance for loan and lease losses of Pegasus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;Audits&rdquo;
shall have the meaning set forth in <U>Section 4.9</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;BancFirst&rdquo;
shall have the meaning set forth in the preamble to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;Bank Employee
Plans&rdquo; shall have the meaning set forth in <U>Section 4.12</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;Bank Regulator&rdquo;
shall mean any federal or state agency charged with the supervision or regulation of banks or bank holding companies or engaged
in the insurance of bank deposits or other Governmental Entity having supervisory or regulatory authority with respect to Pegasus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;Business Day&rdquo;
shall mean any day other than a Saturday, Sunday or any other day on which commercial banks in Dallas, Texas are authorized or
required by law to close.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;Certificate of
Exchange&rdquo; shall mean a Certificate of Exchange substantially in the form attached hereto as <U>Exhibit A</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;Closing&rdquo;
shall have the meaning set forth in <U>Section 2.2</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;Closing Date&rdquo;
shall mean the date of the Closing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;Closing Financial
Certificate&rdquo; shall have the meaning set forth in <U>Section&nbsp;2.6(a)(iii)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;Code&rdquo; shall
mean the Internal Revenue Code of 1986, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;Disclosure Schedules&rdquo;
shall mean the written disclosure schedules prepared by Pegasus, which disclosure schedules shall specifically reference the representation
and warranty in <U>Article IV</U> of this Agreement (or such other section of this Agreement) to which it relates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;Dissenting Shares&rdquo;
shall have the meaning set forth in <U>Section 3.2</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;Effective Time&rdquo;
shall have the meaning set forth in <U>Section 2.1</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;Environmental
Claim&rdquo; shall mean any written notice from any governmental authority or third party alleging potential liability (including,
without limitation, potential liability for investigatory costs, cleanup costs, governmental response costs, natural resources
damages, property damages, personal injuries or penalties) arising out of, based on, or resulting from the presence, or release
into the environment, of any Materials of Environmental Concern.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;Environmental
Laws&rdquo; shall mean any federal, state or local law, statute, ordinance, rule, regulation, code, license, permit, authorization,
approval, consent, order, judgment, decree, injunction or agreement with any Governmental Entity relating to (a) the protection,
preservation or restoration of the environment (including, without limitation, air, water vapor, surface water, groundwater, drinking
water supply, surface or subsurface soil, plant and animal life or any other natural resource), and/or (b) the use, storage, recycling,
treatment, generation, transportation, processing, handling, labeling, production, release or disposal of Materials of Environmental
Concern.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;ERISA&rdquo; shall
mean the Employee Retirement Income Security Act of 1974.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;FDIA&rdquo; shall
mean the Federal Deposit Insurance Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;FDIC&rdquo; shall
mean the Federal Deposit Insurance Corporation, or any successor thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;Final Dividend&rdquo;
shall mean the cash dividend up to the amount of the excess, if any, of Pegasus Tangible Shareholders Equity as of the Valuation
Date <U>over</U> $45,000,000, when and if declared by the Pegasus&rsquo; Board of Directors in conjunction with and prior to Closing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;FRB&rdquo; shall
mean, as applicable, the Board of Governors of the Federal Reserve System or the Federal Reserve Bank having jurisdiction and acting
pursuant to delegated authority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;GAAP&rdquo; means
United States generally accepted accounting principles, consistently applied.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;Governmental Entity&rdquo;
shall mean any federal or state court, administrative agency or commission or other governmental authority or instrumentality.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;Knowledge of Pegasus&rdquo;
shall mean information that is actually known, or reasonably should have been known, to Joe Goyne and Harry Smith, the Chairman
and President, respectively, of Pegasus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;Material Adverse
Effect&rdquo; shall mean any effect that is, or could reasonably be expected to be, material and adverse to the condition (financial
or otherwise), results of operations, business, assets, liabilities, properties, operation or prospects of Pegasus, or materially
impairs the ability of Pegasus to consummate the transactions contemplated by this Agreement or the other Transaction Documents.
Without limiting the generality of the foregoing, a Material Adverse Effect shall be deemed to have occurred if one or more events
or series of events result in, or could reasonably be expected to result in, a decrease in Pegasus&rsquo; shareholders&rsquo; equity
by $500,000 or more. A Material Adverse Effect shall not include any change, circumstance, event or effect relating to (a) actions
or omissions of Pegasus taken with the prior written consent of BancFirst in contemplation of the Share Exchange; or (b) changes
in general economic, legal, regulatory or political conditions that are applicable to financial institutions generally, except
to the extent that such changes have a disproportionate adverse effect on Pegasus as compared to similarly situated banks.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;Materials of Environmental
Concern&rdquo; shall mean pollutants, contaminants, wastes, toxic substances, petroleum and petroleum products and any other materials
regulated under Environmental Laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;NASDAQ&rdquo;
shall mean The Nasdaq Stock Market Inc. National Global Select Market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;OREO&rdquo; shall
mean other real estate owned.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;Paying Agent&rdquo;
shall have the meaning set forth in <U>Section 3.3(a)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;Pegasus&rdquo;
shall have the meaning set forth in the preamble to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;Pegasus Certificates&rdquo;
shall have the meaning set forth in <U>Section&nbsp;3.3(a)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;Pegasus Common
Stock&rdquo; shall mean the common stock, par value $2.50 per share, of Pegasus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;Pegasus Financial
Statements&rdquo; shall mean the audited financial statements of Pegasus, prepared in accordance with GAAP, for the years ended
December 31, 2018 and December 31, 2017, together with the related notes thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;Pegasus Tangible
Shareholders Equity&rdquo; shall mean (a) the aggregate shareholders&rsquo; equity of Pegasus, determined on a consolidated basis
in accordance with GAAP as of the Valuation Date (excluding any unrealized losses or gains in Pegasus&rsquo; available-for-sale
securities portfolio), <U>less</U> (b) an amount equal to any goodwill or other intangible assets reflected on the books of Pegasus
as of the Valuation Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;Pegasus Termination
Fee&rdquo; shall have the meaning set forth in <U>Section 8.2(b)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;Pegasus Transaction
Expenses&rdquo; shall mean (a) all fees, costs and expenses incurred by Pegasus in connection with the transactions contemplated
by this Agreement, including, without limitation, fees and expenses of Advisors that have not been paid and expensed or accrued
prior to the Valuation Date, (b) an estimate, based on an estimate Pegasus obtains from its Advisors as of the Valuation Date,
of the remaining fees Pegasus anticipates will be incurred by it from the Valuation Date through the Closing Date, and (c) any
bonus or similar type of payment paid or agreed to be paid by Pegasus prior to the Closing which was not paid and expensed or accrued
by Pegasus prior to the Valuation Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;Person&rdquo;
shall mean any individual, corporation, partnership, joint venture, association, trust or &ldquo;group&rdquo; (as that term is
defined under the Securities Exchange Act of 1934).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;Record Date&rdquo;
shall mean the record date established by Pegasus&rsquo; Board of Directors for those Pegasus shareholders entitled to receive
(if declared) a ratable portion of the Final Dividend.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;Rights&rdquo;
shall mean warrants, options, rights, convertible securities and other arrangements or commitments which obligate an entity to
issue or dispose of any of its capital stock or other ownership interests.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;Share Exchange&rdquo;
shall have the meaning set forth in the recitals to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;Shareholder Voting
Agreement&rdquo; shall mean the agreement to be executed by certain shareholders of Pegasus, each in substantially the form attached
hereto as <U>Exhibit B</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;SRO&rdquo; shall
mean the Financial Industry Regulatory Authority, applicable securities commodities and futures exchanges, and other industry self-regulatory
organizations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;Stock Option Plans&rdquo;
shall mean the two Stock Option Plans adopted by Pegasus and effective on January 17, 2007 and January 17, 2017.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;Subsidiary&rdquo;
shall mean a corporation or other entity the voting securities of which are owned or otherwise controlled, directly or indirectly,
by another entity in an amount sufficient to elect at least a majority of the Board of Directors or other governing body of such
entity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;Superior Proposal&rdquo;
shall mean any offer made by a third party to consummate a tender offer, exchange offer, merger, consolidation, share exchange
or similar transaction which would result in such third party (or its shareholders) owning, directly or indirectly, all of Pegasus
Common Stock then outstanding (or the surviving entity of a merger) or substantially all of the assets of Pegasus, and otherwise
on terms which the Board of Directors of Pegasus determines in good faith to be more favorable to Pegasus&rsquo; shareholders from
a financial point of view than the Share Exchange.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;Tax Return&rdquo;
means any report, return or other information required to be supplied to a taxing authority with respect to Taxes, including, without
limitation and where permitted or required, combined or consolidated returns for any group of entities that includes Pegasus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;Taxes&rdquo; means
all federal, state, local or foreign taxes, fees and other charges, however denominated, including, without limitation, income,
sales and use, excise, franchise, real and personal property, gross receipts, alternative minimum, intangible, license, transfer
or payroll tax or charge imposed by any taxing authority, including, without limitation, any interest, penalties or additions to
tax in respect of the foregoing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;TBOC&rdquo; shall
have the meaning given in the Recitals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;TDB&rdquo; shall
mean the Texas Department of Banking.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;Transaction Documents&rdquo;
shall mean this Agreement, each Retention Agreement and Shareholder Voting Agreement, and all other agreements, instruments, certificates
and other documents to be entered into or delivered by any party hereto pursuant to this Agreement or any of the foregoing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;Valuation Date&rdquo;
shall mean the last day of the calendar month immediately preceding the Closing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">1.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Other
Terms</U>. Other terms may be defined elsewhere in the text of this Agreement and, unless otherwise indicated, shall have such
meaning indicated throughout this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">1.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Other
Definitional Provisions</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless
expressly provided otherwise, all references in this Agreement to Articles, Sections, subsections and other subdivisions refer
to corresponding Articles, Sections, subsections and other subdivisions of this Agreement. Exhibits referred to herein are attached
hereto and by this reference made a part hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Titles
appearing at the beginning of any of such subdivisions are for convenience only, shall not constitute part of any such subdivision
and shall be disregarded in construing the language contained in such subdivisions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
words &ldquo;this Agreement,&rdquo; &ldquo;hereof&rdquo;, &ldquo;herein&rdquo;, and &ldquo;hereunder&rdquo; and words of similar
import, when used in this Agreement, shall refer to this Agreement as a whole and not to any particular provision of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
words &ldquo;include&rdquo;, &ldquo;includes&rdquo; or &ldquo;including&rdquo; shall be deemed to be followed by the words &ldquo;without
limitation.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
terms defined in the singular shall have a comparable meaning when used in the plural, and vice versa. Whenever the context requires,
the gender of all words used herein shall include the masculine, feminine and neuter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless
otherwise expressly provided herein, references to any law, statute, code, ordinance, rule, regulation or treaty or to any contract,
lease, agreement, covenant, indenture, note, security, instrument, arrangement, commitment or any other binding written understanding
that is defined or referred to herein means such document as from time to time amended, modified or supplemented, including (if
applicable) by waiver or consent or by succession of comparable successor laws, statutes, codes, ordinances, rules, regulations
or treaties and any reference in this Agreement to any such law, statute, code, ordinance or treaty shall be deemed to include
any rules and regulations promulgated thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">ARTICLE II.<BR>
THE SHARE EXCHANGE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Effective
Time of the Share Exchange</U>. Upon the terms and subject to the conditions of this Agreement, a Certificate of Exchange shall
be duly prepared, executed by BancFirst and Pegasus and thereafter delivered to the TDB for filing, as provided in the TBOC, on
or prior to the Closing Date. The Share Exchange shall become effective upon the filing of the Certificate of Exchange with the
Texas Secretary of State or at such time thereafter as is provided in the Certificate of Exchange (the &ldquo;<U>Effective Time</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Closing</U>.
The closing of the transactions contemplated by this Agreement (the &ldquo;<U>Closing</U>&rdquo;) shall take place at such time
and place on one of the first three (3) Business Days of a month as BancFirst and Pegasus may mutually agree on following satisfaction
or waiver of the conditions set forth in <U>Article VII</U> (other than the delivery of certificates and other instruments and
documents to be delivered at the Closing).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Effect
of the Share Exchange</U>. At the Effective Time, BancFirst shall become the owner of all of the issued and outstanding capital
stock of Pegasus, and Pegasus shall become a wholly-owned subsidiary of BancFirst, all without any further action on the part
of Pegasus or BancFirst, or any of their respective shareholders. The shareholders of Pegasus shall have no further rights in
such shares which shall be automatically converted into the right to receive the consideration set forth herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Certificates
of Incorporation and Bylaws</U>. The articles of association of Pegasus and the certificate of incorporation of BancFirst, as
in effect immediately prior to the Effective Time, shall remain in effect thereafter, unless and until amended as provided by
applicable law. In addition, the respective bylaws of Pegasus and BancFirst, as in effect immediately prior to the Effective Time,
shall remain in effect thereafter, unless and until amended or repealed as provided by the bylaws, the respective certificates
of incorporation and applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Directors
and Officers</U>. The directors and officers of BancFirst in office as of immediately prior to the Effective Time shall continue
to be the directors and officers of BancFirst at and after the Effective Time. The directors and officers of Pegasus in office
immediately prior to the Effective Time shall continue to be the directors and officers of Pegasus at and after the Effective
Time until his or her successor is duly elected and qualified or until his or her earlier resignation or removal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Deliveries
at Closing</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At
the Closing, Pegasus shall deliver, or cause to be delivered, to BancFirst:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;counterpart
signature pages to each of the Transaction Documents (other than this Agreement) to which Pegasus or any of its Affiliates are
to be party that are to be executed at Closing;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
certificate executed by the President of Pegasus certifying as to the matters described in <U>Sections 7.3(a)</U> and <U>7.3(b)</U>
have been satisfied;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
certificate (the &ldquo;<U>Closing Financial Certificate</U>&rdquo;) signed by the President and Chief Financial Officer of Pegasus,
certifying as to (A) the amount of Pegasus Tangible Shareholders Equity as of the Valuation Date; (B) the amount of the Allowance
reflected on the books of Pegasus as of the Valuation Date and as of the Closing Date; (C) the amount of the Pegasus Transaction
Expenses; and (D) the number of issued and outstanding shares of Pegasus Common Stock determined immediately prior to the Closing;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;certified
copies of the articles of association and bylaws of Pegasus, together with all amendments thereto;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
good standing certificate, dated no more than ten (10) Business Days prior to the Closing Date, issued by the Texas Secretary of
State, certifying as to the existence and good standing of Pegasus in the State of Texas;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
certified copy of the resolutions of the Board of Directors of Pegasus approving this Agreement and the Share Exchange;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(vii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
certified copy of the resolutions of the shareholders of Pegasus approving this Agreement and the Share Exchange;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(viii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
list of all (A) internal and examiner classified loans and watch listed loans as of the Valuation Date, (B) OREO expected to be
owned by Pegasus as of the Closing Date, and (C) letters of credit issued by Pegasus and outstanding as of the Closing Date;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(ix)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;subject
to the declaration of the Final Dividend by Pegasus&rsquo; Board of Directors which remains unpaid immediately prior to the Closing,
a Pegasus shareholders list as of the Record Date, which shareholders list shall include the tax identification number and address
of each Pegasus shareholder as reflected on the books and records of Pegasus; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(x)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all
other certificates, schedules, or other items required to be delivered to BancFirst by Pegasus or any of its Affiliates pursuant
to this Agreement or any other Transaction Document and not theretofore delivered.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At
the Closing, BancFirst shall deliver or cause to be delivered to Pegasus:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;counterpart
signature pages to each of the Transaction Documents (other than this Agreement) to which BancFirst or any of its Affiliates is
to be party that are to be executed at Closing;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
certificate executed by the Executive Chairman, President or an Executive Vice President of BancFirst certifying as to the matters
described in <U>Sections 7.2(a)</U> and <U>7.2(b)</U>;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
certified copy of the resolutions of the Board of Directors of BancFirst approving this Agreement and the Share Exchange; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all
other certificates, schedules, or other items required to be delivered by BancFirst to Pegasus or any of its Affiliates pursuant
to this Agreement or any other Transaction Document and not theretofore delivered.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pegasus
and BancFirst shall execute and deliver to each other all other instruments and assurances, and do all things, reasonably necessary
and proper to effect the Share Exchange and other transactions contemplated by this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">ARTICLE III.<BR>
EFFECT OF THE SHARE EXCHANGE ON CAPITAL STOCK;<BR>
SURRENDER OF CERTIFICATES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Effect
on Capital Stock</U>. Subject to the terms and conditions of this Agreement and pursuant to the provisions of Section&nbsp;10.051
of the TBOC, at the Effective Time, without any action on the part of the holder of any share of Pegasus Common Stock:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;each
share of Pegasus Common Stock (other than Dissenting Shares) which is outstanding immediately prior to the Effective Time shall,
by virtue of the Share Exchange and without any further action, be converted into the right to receive the Acquisition Consideration
Per Share;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
shares of Pegasus Common Stock held in the treasury of Pegasus shall, by virtue of the Share Exchange and without any further action,
be cancelled without the payment of any consideration therefor; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;each
share of BancFirst capital stock issued and outstanding immediately prior to the Effective Time shall continue to be issued and
outstanding and will be unaffected by the Share Exchange.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Appraisal
Rights</U>. Notwithstanding anything in this Agreement to the contrary, shares of Pegasus Common Stock that are issued and outstanding
immediately prior to the Effective Time and that are owned by stockholders that have properly perfected their right of appraisal
within the meaning of Section 10.351 <U>et seq</U>. of the TBOC (the &ldquo;<U>Dissenting Shares</U>&rdquo;) shall not remain
outstanding, and the holders thereof shall be entitled to payment of the appraised value of such Dissenting Shares in accordance
with such provisions of the TBOC. If any such holder shall have failed to perfect or shall have effectively withdrawn or lost
such right of appraisal, each share of such Pegasus Common Stock held by such stockholder shall be converted into the right to
receive the Acquisition Consideration Per Share in accordance with <U>Section 3.1(b)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Surrender
of Certificates; Paying Agent</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="color: black">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Paying
Agent</U><FONT STYLE="color: black">. As of the Effective Time, BancFirst shall deposit, or shall cause to be deposited, in a non-interest
bearing account at </FONT>BancFirst, Oklahoma City, Oklahoma, an Oklahoma banking corporation <FONT STYLE="color: black">(which,
when acting in such capacity, is referred to herein as the &ldquo;</FONT><U>Paying Agent</U><FONT STYLE="color: black">&rdquo;),
for the benefit of the holders of certificates which immediately prior to the Effective Time evidenced shares of Pegasus Common
Stock (collectively, the &ldquo;<U>Pegasus</U></FONT><U> Certificates</U><FONT STYLE="color: black">&rdquo;), for exchange in accordance
with this <U>Article III</U>, an aggregate amount of cash equal to the Acquisition Consideration.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="color: black">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Exchange
Procedures</U><FONT STYLE="color: black">.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At
least five (5) Business Days prior to the anticipated Closing Date, the Paying Agent shall mail or deliver to each holder of record
of shares of Pegasus Common Stock a letter of transmittal (which shall specify that delivery shall be effected only upon delivery
of Pegasus Certificates to the Paying Agent, and which shall be in such form and have such other provisions as Pegasus and BancFirst
reasonably specify, including, without limitation, a release by each Pegasus shareholder of all claims against Pegasus (other than
claims arising under this Agreement and the Transaction Documents), and instructions for use in effecting the surrender of Pegasus
Certificates in exchange for the Acquisition Consideration Per Share. Upon surrender of an Pegasus Certificate for cancellation
to the Paying Agent together with such letter of transmittal, duly executed, and such other documents as the Paying Agent may reasonably
require, at the Closing the holder of such Pegasus Certificate shall be entitled to receive in exchange therefor (x) the Acquisition
Consideration Per Share, <U>multiplied by</U> (y) the number of shares of Pegasus Common Stock represented by the certificate so
surrendered pursuant to the provisions of this <U>Article III</U> (which amount shall be rounded to the nearest whole cent), and
Pegasus Certificate so surrendered shall forthwith be cancelled. Until surrendered as contemplated by this <U>Section 3.3</U>,
each Pegasus Certificate shall be deemed at any time after the Effective Time to represent only the right to receive the Acquisition
Consideration Per Share with respect to the shares of Pegasus Common Stock represented by such Pegasus Certificate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
the payment procedures described in <U>Section 3.3(b)(i)</U> above, in the event that a holder of Pegasus Certificates surrenders
such Pegasus Certificates and a properly executed letter of transmittal evidencing such holder&rsquo;s election to surrender such
shares pursuant to this Agreement, and such other documents as the Paying Agent may reasonably require, to the Paying Agent at
least two (2) Business Days prior to the Closing Date, then, immediately following the Closing, BancFirst shall cause the Paying
Agent to deliver to such holder of such Pegasus Certificates an amount equal to the amount payable to such shareholder pursuant
to <U>Section 3.3(b)(i)</U> by, at the option of such holder (A) delivery of a bank cashier&rsquo;s check payable to such holder,
(B) a direct deposit into such holder&rsquo;s account at Pegasus, or (C) subject to the holder being entitled to receive not less
than $100,000 pursuant to the provisions of this <U>Section&nbsp;3.3(b)</U>, by wire transfer of immediately available funds to
an account designated by such holder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="color: black">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>No
Further Ownership Rights in Pegasus Common Stock</U><FONT STYLE="color: black">. The Acquisition Consideration Per Share paid upon
surrender of shares of Pegasus Common Stock in accordance with the terms hereof shall be deemed to have been issued in full satisfaction
of all rights pertaining to such shares of Pegasus Common Stock, and there shall be no further registration of transfers on the
stock transfer books of Pegasus of the shares of Pegasus Common Stock which were outstanding immediately prior to the Effective
Time and which were evidenced by Pegasus Certificates. If, after the Effective Time, Pegasus Certificates are presented to BancFirst
for any reason, they shall be cancelled and exchanged as provided in this <U>Article III</U>.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="color: black">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Lost
or Stolen Certificate</U><FONT STYLE="color: black">. In the event that any Pegasus Certificate shall have been lost, stolen or
destroyed, the Paying Agent shall issue and pay the Acquisition Consideration Per Share to such shareholder in exchange for such
lost, stolen or destroyed certificates, upon the making of an affidavit of that fact by the holder thereof, together with such
other documents required under <U>Section 3.3(b)(i)</U>; </FONT><U>provided</U><FONT STYLE="color: black">, that the Paying Agent
may, in its discretion and as a condition precedent to the payment of cash, require the owner of such lost, stolen or destroyed
certificate to submit to the Paying Agent a bond in form and substance satisfactory to the Paying Agent in an amount not to exceed
the aggregate Acquisition Consideration the owner will receive, or an indemnification agreement in a form acceptable to BancFirst,
whereby such shareholder agrees to indemnify BancFirst, Pegasus and the Paying Agent against any claim that may be made against
them with respect to the certificates alleged to have been lost, stolen or destroyed.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="color: black">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Termination
of Fund; Limit of Liability</U><FONT STYLE="color: black">. Any portion of the cash funds deposited in a segregated account pursuant
to <U>Section 3.3(a)</U>, which remains undistributed to the shareholders of Pegasus for six months after the Effective Time may
be transferred by the Paying Agent from such segregated account to BancFirst&rsquo;s general operating accounts. Neither BancFirst,
the Paying Agent nor Pegasus shall be liable to any holder of shares of Pegasus Common Stock for any portion of such cash funds
that may be later delivered to a public official pursuant to any applicable abandoned property, escheat or similar law.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="color: black">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Withholding</U><FONT STYLE="color: black">.
The Paying Agent shall be entitled to deduct and withhold from the consideration otherwise payable pursuant to this Agreement to
any holder of Pegasus Common Stock such amounts as BancFirst is required to deduct and withhold with respect to making such payment
under the Code, or any applicable provision of state, local or foreign tax law. To the extent that amounts are so withheld by BancFirst,
such amounts shall be remitted to the appropriate tax authority and shall be treated for all purposes of this Agreement as having
been paid to the holder of the shares of Pegasus Common Stock in respect of which such deduction and withholding was made by BancFirst.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="color: black"><U>Liens
and Encumbrances</U>. </FONT>Any of the shares of Pegasus Common Stock that are subject to liens and encumbrances shall not be
entitled to receive any portion of the Acquisition Consideration unless BancFirst receives evidence satisfactory to it that such
liens or encumbrances have been or will be released upon receipt of the applicable portion of the Acquisition Consideration.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Final
Dividend Paying Agent</U>. If a Final Dividend has been declared prior to the Closing (based on the Pegasus Tangible Shareholders
Equity as of the Valuation Date) but remains unpaid immediately prior to the Closing, Pegasus, in conjunction with the Closing,
shall (a) deliver to BancFirst a shareholders list as of the Record Date for the payment of the Final Dividend, which shareholders
list shall include those matters specified in <U>Section 2.6(a)(ix)</U>, and (b) deposit with BancFirst immediately available
funds in an amount equal to the Final Dividend. Subject to receipt of the shareholders list and said funds, BancFirst shall act
as the paying agent for the Final Dividend. In such capacity, BancFirst shall mail or deliver a check to each Pegasus shareholder
as of the Record Date, as reflected on the shareholders list described above, in an amount equal to that portion of the Final
Dividend due such shareholder.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">ARTICLE IV.<BR>
REPRESENTATIONS AND WARRANTIES OF THE BANK</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Except as may be disclosed
to BancFirst in the Disclosure Schedules which shall be delivered to BancFirst by Pegasus prior to or in conjunction with the execution
and delivery of this Agreement, Pegasus represents and warrants to BancFirst, as of the date hereof and as of the Closing Date
(except those representations and warranties that are made as of a specific date need only be true as of such date) as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Capital
Structure of Pegasus</U>. The authorized capital stock of Pegasus consists of 10,000,000 shares of Pegasus Common Stock, 4,235,210
shares of which are issued and outstanding, and no shares of Pegasus Common Stock are held as treasury shares. All outstanding
shares of Pegasus Common Stock have been duly authorized and validly issued and are fully paid and nonassessable, and none of
the outstanding shares of Pegasus Common Stock have been issued in violation of the preemptive or subscription rights of any Person.
There are no Rights authorized, issued or outstanding with respect to Pegasus Common Stock, and no authorization therefor has
been given.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Organization,
Standing and Authority of Pegasus</U>. Pegasus is a state banking corporation duly organized, validly existing and in good standing
under the laws of the State of Texas. Pegasus has the full corporate power and authority to own, lease and operate all of its
properties and assets and to carry on its business as it is now being conducted and is duly licensed or qualified to do business
and is in good standing in each jurisdiction in which the nature of the business conducted by it or the character or location
of the properties and assets owned or leased by it makes such licensing or qualification necessary. Pegasus is duly authorized,
qualified and licensed under all applicable laws, regulations and orders of Governmental Entities to conduct a banking business
and to own and operate the assets purported to be owned by it. Pegasus has heretofore delivered to BancFirst true and complete
copies of the articles of association and bylaws of Pegasus as in effect as of the date hereof. All eligible accounts of depositors
in Pegasus are insured by the FDIC in accordance with the FDIA to the fullest extent permitted by law, all premiums and assessments
required to be paid in connection therewith have been paid when due by Pegasus, and Pegasus has filed all reports required by
the FDIA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Subsidiaries</U>.
Pegasus has no Subsidiaries or Affiliates except for Chrysaor, Series LLC (&ldquo;<U>Chrysaor</U>&rdquo;), a subsidiary of Pegasus
that holds one piece of OREO being utilized as rental property. Chrysaor is duly organized, validly existing and in good standing
under the laws of the State of Texas, and has the full corporate power and authority to own, lease and operate all of its properties
and assets and to carry on its business as is now being conducted and is duly licensed or qualified to do business and is in good
standing in each jurisdiction in which the nature of the business conducted by it or the character or location of the properties
and assets owned or leased by it makes such licensing or qualification necessary. All of the outstanding equity interests in Chrysaor
(a) have been validly issued and are fully paid and non-assessable, (b) are owned free and clear of all pledges, claims, liens,
charges, encumbrances and security interests of any kind or nature whatsoever, and (c) are free of any other restrictions that
would prevent the operation by BancFirst or Pegasus of Chrysaor&rsquo;s business as currently conducted. For the purposes of <U>Article
IV</U> of this Agreement, the term &ldquo;Pegasus&rdquo; shall be deemed to include Chrysaor. Other than Chrysaor, Pegasus does
not have any direct or indirect equity interest in any corporation, partnership, joint venture, business association or other
entity.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Authorized
and Effective Agreement; Consents and Approvals</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pegasus
has all requisite corporate power and authority to enter into this Agreement and each of the other Transaction Documents and (subject
to receipt of all necessary governmental and shareholder approvals) to perform all of its obligations under this Agreement and
each of the other Transaction Documents. The execution and delivery of this Agreement and each of the other Transaction Documents
and the consummation of the transactions contemplated hereby and thereby, have been duly and validly authorized by the Board of
Directors of Pegasus. This Agreement has been duly and validly executed and delivered by Pegasus (and each other Transaction Document
to which such Person is party will be duly and validly executed and delivered at Closing) and constitutes (or will constitute)
legal, valid and binding obligations of Pegasus which are enforceable against Pegasus in accordance with their respective terms,
except as limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting creditors&rsquo;
rights generally, and except that the availability of equitable remedies (including, without limitation, specific performance)
is within the discretion of the appropriate court.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither
the execution and delivery of this Agreement or the other Transaction Documents by Pegasus nor the consummation by Pegasus of the
transactions contemplated hereby or thereby in accordance with the terms hereof nor compliance by Pegasus with any of the terms
or provisions hereof or thereof will (i) violate any provision of the articles of association or bylaws of Pegasus; (ii) assuming
that the consents and approvals set forth herein are duly obtained, violate any statute, code, ordinance, rule, regulation, judgment,
order, writ, decree or injunction applicable to Pegasus or any of its properties or assets; (iii) violate, conflict with, result
in a breach of any provisions of, constitute a default (or an event which, with notice or lapse of time, or both, would constitute
a default) under, result in the termination of, accelerate the performance required by, or result in the creation of any lien,
security interest, charge or other encumbrance upon any of the properties or assets of Pegasus under any of the terms, conditions
or provisions of any note, bond, mortgage, indenture, deed of trust, license, lease, agreement or other instrument or obligation
to which Pegasus is a party, or by which any of its properties or assets may be bound or affected; or (iv) violate, conflict with,
result in a breach of any provisions of, constitute a default (or an event which, with notice or lapse of time, or both, would
constitute a default) under any agreement to which Pegasus or, to the Knowledge of Pegasus, the shareholders of Pegasus are parties
or to which any Pegasus Common Stock is subject. Except for consents and approvals of or filings or registrations with or notices
to the FRB and TDB, no consents or approvals of or filings or registrations with or notices to any Governmental Entity or other
Person are required on behalf of Pegasus in connection with the consummation by Pegasus of the transactions contemplated hereby.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Regulatory
Reports and Agreements</U>. Since January 1, 2013, Pegasus has duly filed with the appropriate Bank Regulators, in correct form,
all reports required to be filed under applicable laws and regulations and such reports were in all material respects complete
and accurate and in compliance with the requirements of applicable laws and regulations, and Pegasus has previously delivered
or made available to BancFirst accurate and complete copies of all such reports. In connection with the most recent examination
of Pegasus by the appropriate Bank Regulators, Pegasus was not required to correct or change any action, procedure or proceeding
which, to the Knowledge of Pegasus, has not been now corrected or changed. Except as set forth in <U>Schedule 4.5</U>, Pegasus
is not a party to or subject to any commitment, letter (other than letters addressed to regulated banking institutions generally
or examination reports), written agreement, memorandum of understanding, order or other regulatory enforcement action or proceeding
with or by any Bank Regulator, and Pegasus has not received any notification from any such Bank Regulator, including, without
limitation, the TDB and the FDIC, that it may be requested to enter into, or otherwise become subject to, any such commitment,
letter, written agreement, memorandum of understanding, order or other regulatory enforcement action or proceeding.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Pegasus
Financial Statements</U>. Pegasus Financial Statements are attached to <U>Schedule&nbsp;4.6</U>. Pegasus Financial Statements
are true, correct and complete in all material respects and fairly present the consolidated financial condition and results of
operations of Pegasus, as of the dates and for the periods set forth therein. Except as otherwise stated therein, Pegasus Financial
Statements have been prepared in accordance with GAAP. The books and records of Pegasus are being maintained in compliance with
applicable regulatory and accounting requirements, and such books and records accurately reflect in all material respects all
dealings and transactions in respect of the business, assets, liabilities and affairs of Pegasus. Except to the extent reflected,
disclosed or provided for in Pegasus Financial Statements or described on <U>Schedule 4.6</U>, Pegasus has no liabilities of any
nature, whether absolute, accrued, contingent or otherwise, other than those liabilities (i) reflected on the balance sheet included
in the Pegasus Financial Statements and not previously paid or discharged, and (ii) incurred after the date of the Pegasus Financial
Statements arising in the ordinary course of Pegasus&rsquo; business that were properly incurred consistent with past practice.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pegasus is not obligated (by discount,
line of credit, loan commitment, loan participation agreement, repurchase agreement, letter of credit or otherwise), except in
the normal course of business, to provide funds in respect of or to guaranty or assume any debt or obligation of any Person other
than Pegasus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Material Adverse Change</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Since
December 31, 2018, other than in connection with this Agreement and the other Transaction Documents and the transactions contemplated
hereby and thereby, (i) Pegasus has conducted its businesses in the ordinary and usual course, and (ii) no event has occurred or
circumstances arisen that, individually or in the aggregate, has had or is reasonably likely to have a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
as described in <U>Schedule 4.7(b)</U>, since December 31, 2018, Pegasus has not:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;suffered
any Material Adverse Effect in its financial condition, results of operations or business;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;issued
any notes, bonds or other debt securities, or otherwise borrowed any amount or incurred or become subject to any liabilities (absolute
or contingent), except (A) current liabilities incurred in the ordinary course of business and consistent with past practices,
and (B) liabilities under contracts entered into in the ordinary course of business and consistent with past practice;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;except
for the Final Dividend (if declared), declared any dividend or made any payment or distribution of cash or other property to its
shareholders or purchased or redeemed any shares of its capital stock or granted any option for the purchase of its capital stock;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;mortgaged,
pledged or had subjected to any lien, security interest, charge or any other encumbrance, any of its assets, tangible or intangible,
except pledges to secure government deposits and in connection with repurchase or reverse repurchase agreements;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;discharged
or satisfied any material lien or encumbrance or paid any material obligation or liability (absolute or contingent), other than
current liabilities included in the Pegasus Financial Statements and current liabilities incurred since the date thereof in the
ordinary course of business consistent with past practices;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;sold,
assigned or transferred any real or personal property, patents, trademarks, trade names, copyrights, trade secrets or other tangible
or intangible assets, or disclosed any proprietary confidential information to any Person other than for fair consideration in
the ordinary course of business and consistent with past practices;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(vii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;suffered
any material loss not provisioned for in the Allowance and reflected in the Pegasus Financial Statements or waived any right of
material value, whether or not in the ordinary course of business or consistent with past practices;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(viii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;entered
into any transaction (except as otherwise contemplated by this Agreement) other than in the ordinary course of business and consistent
with past practices;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(ix)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;entered
into, renewed or otherwise extended any material agreement, arrangement, commitment or understanding which is not terminable at
the election of Pegasus without payment of any penalty or similar termination fee on not more than 30 calendar days&rsquo; prior
written notice;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(x)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;incurred
any material obligation or liability (absolute or contingent), except obligations or liabilities incurred in the ordinary course
of business consistent with past practices;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(xi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;made
any capital expenditures or commitments therefor in excess of $100,000 per expenditure or commitment and not exceeding $250,000
in the aggregate;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(xii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;made
any loan or advances to, guarantees for the benefit of, or investments in, any Person, other than in the ordinary course of business
and consistent with past practices;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(xiii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;made
any material change in any method of accounting or accounting practice;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(xiv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;granted
any increase in the compensation payable or to become payable to any director, officer or employee (other than normal periodic
increases made by Pegasus pursuant to Pegasus&rsquo; established compensation policies);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(xv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;except
as disclosed in <U>Schedule 4.7(b)</U>, paid or agreed to pay any bonus or severance to, or provide any other benefit to any of
its directors, officers or employees;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(xvi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;suffered
any material theft, damage, destruction or casualty loss, whether or not covered by insurance;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(xvii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;entered
into nor received any notice or advice that it may become subject or a party to any order, agreement, consent, memorandum of understanding
or other regulatory enforcement action or proceeding by a Bank Regulator, or become party to any commitment letter or similar undertaking
to a Bank Regulator; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(xviii)&nbsp;&nbsp;&nbsp;&nbsp;agreed,
whether in writing or otherwise, to take any action described in this <U>Section 4.7(b)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Environmental
Matters</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pegasus
is in compliance with all Environmental Laws. Pegasus has not received any communication alleging that Pegasus is not in such compliance
or that it is responsible (or potentially responsible) for remedying, or the cleanup of, any pollutants, contaminants, or hazardous
or toxic wastes, substances or materials at, on or beneath any property owned by Pegasus, and, to the Knowledge of Pegasus, there
are no present circumstances that would prevent or interfere with the continuation of such compliance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None
of the properties owned, leased or operated by Pegasus has been or is in violation of or liable under any Environmental Law, except
any such violations or liabilities which would not individually or in the aggregate have a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
the Knowledge of Pegasus, there are no past or present actions, activities, circumstances, conditions, events or incidents that
could reasonably form the basis of any Environmental Claim or other claim or action or governmental investigation that could result
in the imposition of any liability arising under any Environmental Law against Pegasus or against any person or entity whose liability
for any Environmental Claim Pegasus has or may have retained or assumed either contractually or by operation of law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pegasus
has provided to BancFirst true, accurate and complete copies of all environmental audits, reports or assessments that Pegasus has
with respect to any and all real property owned, occupied or previously occupied by Pegasus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Tax
Matters</U>. Pegasus has timely filed all Tax Returns required to be filed by it through the date hereof, and all such Tax Returns
are true, complete and accurate in all material respects. Pegasus has timely paid and discharged all Taxes shown to be due on
such Tax Returns and have timely paid all other Taxes as are due or accruable through the Closing Date, except (i) such as are
being contested in good faith by appropriate proceedings and with respect to which Pegasus is maintaining reserves adequate for
their payment, or (ii) Taxes which are accruable through the Closing Date and which are properly shown on the books of Pegasus,
as applicable, as a liability immediately prior to the Closing. The liability for Taxes set forth on each Tax Return adequately
reflects the Taxes required to be reflected on such Tax Return. Pegasus has complied in all respects with all applicable laws,
rules and regulations relating to the payment and withholding of Taxes (including, without limitation, withholding of Taxes pursuant
to Sections 1441 and 1442 of the Code) and has, within the time and manner prescribed by law, withheld and paid over to the proper
Governmental Entity all amounts required to be withheld and paid over under all applicable laws. No federal, state, local or foreign
audits or other administrative proceedings or court proceedings (collectively, &ldquo;<U>Audits</U>&rdquo;) exist or have been
initiated with regard to any Taxes or Tax Returns of Pegasus, and Pegasus has not received any notice that such an Audit is pending
or threatened with respect to Pegasus or any Tax Return required to be filed by or with respect to Pegasus. Pegasus is not a party
to or bound by and does not have any obligation under any tax sharing agreement, tax indemnification agreement or similar contract
or arrangement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Legal
Proceedings</U>. <U>Schedule 4.10</U> lists all existing or, to the Knowledge of Pegasus, threatened, legal, administrative, arbitral
or other proceedings, claims, actions, controversies or governmental investigations of any nature against or involving Pegasus
or its officers, directors, employees or agents. None of the proceedings, claims, actions, controversies or governmental investigations
disclosed on <U>Schedule 4.10</U> would, or would reasonably be expected to (a) have a Material Adverse Effect; (b) in any material
respect, impair the ability of Pegasus to conduct business as now conducted; (c) result in any substantial liability of Pegasus
that is not adequately covered by insurance; or (d) restrain or otherwise materially impair the performance of any other action
by Pegasus under this Agreement or any other Transaction Document. To the Knowledge of Pegasus, there are no circumstances, conditions,
events or arrangements, contractual or otherwise, that may hereafter give rise to any proceedings, claims, actions, controversies
or governmental investigations involving Pegasus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Compliance
with Laws</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pegasus
has all permits, licenses, certificates of authority, orders and approvals of, and has made all filings, applications and registrations
with, federal, state, local and foreign governmental or regulatory bodies that are necessary in order to permit it to carry on
its business as it is presently being conducted in all material respects; all such permits, licenses, certificates of authority,
orders and approvals are in full force and effect; and to the Knowledge of Pegasus, no suspension or cancellation of any of the
same is threatened.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pegasus
is not in violation of its governing documents, or of any applicable federal, state or local law or ordinance or any order, rule
or regulation of any federal, state, local or other Governmental Entity (including, without limitation, all banking, securities,
municipal securities, safety, health, environmental, zoning, anti-discrimination, antitrust, and wage and hour laws, ordinances,
orders, rules and regulations), or in default with respect to any order, writ, injunction or decree of any court, or in default
under any order, license, regulation or demand of any Governmental Entity, which could reasonably be expected to have a Material
Adverse Effect. Pegasus has not received any notice or communication from any Governmental Entity asserting that Pegasus is in
violation of any of the foregoing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Employee
Matters and ERISA</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="color: black">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Schedule
4.12(a)</U> <FONT STYLE="color: black">sets forth all stock option (including the Stock Option Plans), employee stock purchase
and stock bonus plans, qualified pension or profit-sharing plans, any deferred compensation, bonus or group insurance contract
or any other incentive, welfare or employee benefit plan, as defined in Section 3(3) of ERISA, or agreement, understanding, practice
or commitment, formal or informal, sponsored, maintained or contributed to by Pegasus for the benefit of the current or former
directors, officers, employees or independent contractors of Pegasus (the &ldquo;</FONT><U>Bank Employee Plans</U><FONT STYLE="color: black">&rdquo;).
Except as described on </FONT><U>Schedule 4.12(a)</U><FONT STYLE="color: black">, Pegasus does not have any present or future obligation
or liability under any Bank Employee Plan. Pegasus does not maintain, contribute to or participate in any plan that provides health,
major medical, disability or life insurance benefits to former employees of Pegasus.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="color: black">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Schedule
4.12(b)</U> describes each (i) agreement with any shareholder, director, officer or other key employee of Pegasus (A) the benefits
of which are contingent, or the terms of which are materially altered, upon the occurrence of a transaction involving Pegasus of
the nature of any of the transactions contemplated by this Agreement, (B) providing any terms of employment or compensation guarantee,
or (C) providing severance benefits or other benefits after the termination of employment of such director, executive officer or
key employee; (ii) agreement, plan or arrangement under which any person may receive payments from Pegasus that may be subject
to the tax imposed by Section 4999 of the Code or included in the determination of such person&rsquo;s &ldquo;parachute payment&rdquo;
under Section&nbsp;280G of the Code, and (iii) agreement or plan binding Pegasus, including, without limitation, any stock option
plan, including the Stock Option Plans, stock appreciation rights plan, restricted stock plan, stock purchase plan, or severance
benefit plan, any of the benefits of which will be increased, or the vesting of the benefits of which will be accelerated, by the
occurrence of any transactions contemplated by this Agreement or the value of any of the benefits of which will be calculated on
the basis of any of the transactions contemplated hereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pegasus
has not, and, to the Knowledge of Pegasus, any fiduciary of such plan has not, incurred any liability to, the Department of Labor
or the Internal Revenue Service with respect to the coverage of any employees of Pegasus under any Bank Employee Plan that has
not been satisfied in full.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Full
payment has been made (or proper accruals have been established to the extent required by GAAP) of all contributions which are
required for periods prior to the date hereof, and full payment will be so made (or proper accruals will be so established to the
extent required by GAAP) of all contributions which are due and payable after the date hereof and prior to the Closing, under the
terms of each Bank Employee Plan or ERISA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pegasus
Employee Plans have been operated in compliance in all material respects with the applicable provisions of ERISA, the Code, all
regulations, rulings and announcements promulgated or issued thereunder and all other applicable governmental laws and regulations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Certain
Contracts</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Schedule
4.13(a)</U> <FONT STYLE="color: black">sets forth a list of all of the following types of agreements, arrangements or commitments
to which Pegasus is a party, is bound or affected by, receives or is obligated to pay, benefits under: (i) any agreement, arrangement
or commitment relating to the borrowing of money by Pegasus (other than in the case of deposits, federal funds purchased and securities
sold under agreements to repurchase in the ordinary course of business) or the guarantee by Pegasus of any obligation; (ii) any
agreement, arrangement or commitment relating to the employment of a consultant or the employment, election or retention in office
of any present or former director, officer or employee of Pegasus, other than any agreement, arrangement or commitment terminable
at will and without the payment of any penalty by Pegasus, and other than Pegasus Employee Plans; (iii) any agreement, arrangement
or understanding pursuant to which any payment (whether of severance pay or otherwise) became or may become due to any director,
officer or employee of Pegasus upon execution of this Agreement or any other Transaction Document or upon or following consummation
of the transactions contemplated hereby or thereby (either alone or in connection with the occurrence of any additional acts or
events), other than Pegasus Employee Plans; (iv) any agreement, arrangement or understanding pursuant to which Pegasus is obligated
to indemnify any director, officer, employee or agent of Pegasus; (v) any agreement, arrangement or understanding to which Pegasus
is a party or by which Pegasus is bound which limits the freedom of Pegasus to compete in any line of business or with any person
or entity; (vi) any lease of real or personal property requiring payments of annual rental in excess of $50</FONT>,000<FONT STYLE="color: black">,
whether as lessor or lessee; or (vii) any other agreement, arrangement or understanding which involves an annual payment of more
than $50</FONT>,000 or material agreement, arrangement or understanding which is not terminable at the election of Pegasus without
payment of any penalty or similar termination fee on not more than 30 calendar days&rsquo; written notice. Pegasus has previously
delivered or made available to BancFirst a copy of each such agreement, arrangement or understanding or, if oral, shall have described
such agreement, arrangement or understanding in writing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pegasus
is not in default or in non-compliance, which default or non-compliance could reasonably be expected to have a Material Adverse
Effect, under any contract, agreement, commitment, arrangement, lease, insurance policy or other instrument to which it is a party
or by which its assets, business or operations may be bound or affected, whether entered into in the ordinary course of business
or otherwise and whether written or oral, and there has not occurred any event that with the lapse of time or the giving of notice,
or both, would constitute such a default or non-compliance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.14&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Brokers
and Finders</U>. Neither Pegasus nor any of its respective directors, officers, employees or agents has employed any broker or
finder or incurred any liability for any financial advisory fees, brokerage fees, commissions or finder&rsquo;s fees, and no broker
or finder has acted directly or indirectly for Pegasus in connection with this Agreement or the other Transaction Documents or
any of the transactions contemplated hereby or thereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.15&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Insurance</U>.
Pegasus is insured, and during each of the past three calendar years has been insured, for reasonable amounts with financially
sound and reputable insurance companies against such risks as companies engaged in a similar business would, in accordance with
good business practice, customarily be insured and has maintained all insurance required by applicable laws, regulations and agreements
to which Pegasus is a party. <U>Schedule 4.15</U> identifies all insurance policies maintained by Pegasus as of the date hereof
and any claims pending thereunder. All of the policies and bonds maintained by Pegasus are in full force and effect and shall
continue in full force and effect through the Closing Date, and all claims thereunder have been filed in a due and timely manner,
and no such claim has been denied. Pegasus has not been notified that its fidelity or insurance coverage will not be renewed by
the carrier(s) on substantially the same terms as its existing coverage except for terms which may be included in the policies
identified in <U>Schedule 4.15</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.16&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Properties</U>.
All real and personal property owned by Pegasus or presently used by it in its business are in condition (ordinary wear and tear
excepted) sufficient to carry on the business of Pegasus in the ordinary course of business consistent with its past practices.
Pegasus has good and indefeasible title free and clear of all liens, encumbrances, charges, defaults or equities (other than equities
of redemption under applicable foreclosure laws or of lessors respecting any leased property) to all of the material properties
and assets, real and personal, reflected in the Pegasus Financial Statements or acquired after the date thereof, other than properties
sold by Pegasus in the ordinary course of business, except (i) liens for current Taxes not yet due or payable, (ii) pledges to
secure deposits and other liens incurred in the ordinary course of its banking business, and (iii) such imperfections of title,
easements and encumbrances, if any, as are not material in character, amount or extent. All real and personal property which is
material to the business of Pegasus and leased or licensed by Pegasus is held pursuant to leases or licenses which are valid and
enforceable in accordance with their respective terms, and such leases or licenses will not terminate or lapse prior to the Closing.
<U>Schedule 4.16</U> sets forth a description of all real property owned or leased by Pegasus and used in the conduct of its business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.17&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Transactions
with Affiliates</U>. There are no existing or pending transactions, nor are there any agreements or understandings, with any directors,
officers or employees of Pegasus or any person or entity affiliated with Pegasus, relating to, arising from or affecting Pegasus,
including, without limitation, any transactions, arrangements or understandings relating to the purchase or sale of goods or services,
the lending of monies or the sale, lease or use of any assets of Pegasus, except for (i) current salary and business expense advances
consistent with past practices, (ii) loans that have been entered into in the ordinary course of business on terms no more favorable
to such Person than if the loan had been entered into on an arms&rsquo; length basis pursuant to normal commercial terms and conditions
and in compliance with applicable law, and (iii) such Person&rsquo;s deposit accounts at Pegasus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.18&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Loans</U>.
Each loan on the books and records of Pegasus, including, without limitation, unfunded portions of outstanding lines of credit,
loan commitments and letters of credit, (a) was made and has been serviced in all material respects in accordance with Pegasus&rsquo;
loan policy or exceptions approved by loan committee or Pegasus&rsquo; board of directors at the time such loan was made or extended
as applicable, in the ordinary course of business, (b) is evidenced in all material respects by appropriate and sufficient documentation,
(c), to the Knowledge of Pegasus, constitutes the legal, valid and binding obligation of the obligor named therein, subject to
bankruptcy, insolvency, fraudulent conveyance and other laws of general applicability relating to or affecting creditor&rsquo;s
rights and to general equity principles, and (d) is not subject to any known or threatened defense, offsets or counterclaims that
might be asserted against Pegasus. Although no representation or warranty is being made as to the sufficiency of collateral securing
or the collectability of such loans, the credit files of Pegasus contain all material information known to Pegasus that is reasonably
required to evaluate, in accordance with generally prevailing practices in the banking industry, the collectibility of Pegasus&rsquo;
loan portfolio. All extensions of credit made to any insider of Pegasus (within the meaning of such terms in Regulation O of the
Board of Governors of the Federal Reserve System) have been made by Pegasus in an arms-length manner made on substantially the
same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with other persons
and do not involve more than normal risk of collectability or present other unfavorable features. <U>Schedule 4.18</U> lists all
internal and examiner classified loans and watch listed loans and OREO as of the most recent month end.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.19&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Intellectual
Property</U>. Pegasus owns all right, title and interest in, to and under, free and clear of any lien, claim or encumbrance of
any kind, and has the valid and enforceable right to use and fully and completely assign, transfer and convey (or have a valid,
written and enforceable license to) all computer software and programs of any kind or nature (including, without limitation, any
and all object code, source code, firmware, program and/or programming tools), currently used or planned to be used in its business
or otherwise reasonably necessary to carry on its business. The activities, products and services of Pegasus have not and do not
infringe upon, misappropriate, dilute (in the case of trademarks) or otherwise violate, or constitute the unauthorized use of
the intellectual property of any other Person. There are no written or, to the Knowledge of Pegasus, oral allegations, threats
or claims, and there are no lawsuits pending or, to the Knowledge of Pegasus, threatened, in any case, alleging that any of Pegasus&rsquo;
activities, products or services infringe upon, misappropriate, dilute (in the case of trademarks) or otherwise violate, or constitute
the unauthorized use of, any other Person&rsquo;s intellectual property.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.20&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Disclosures</U>.
None of the representations and warranties of Pegasus or any of the written information or documents which have been furnished
by Pegasus to BancFirst pursuant to this Agreement, the other Transaction Documents or in connection with the transactions contemplated
hereby or thereby contains or will contain any untrue statement of a material fact, or omits or will omit to state any material
fact required to be stated or necessary to make any such information or document, at the time and in light of the circumstances
(including, without limitation, the nature and scope of the information described in the representation, warranty, information
or document), not misleading. Copies of all documents that Pegasus shall have delivered or made available to BancFirst pursuant
to this <U>Article IV</U> are true, correct and complete copies thereof and include all amendments, supplements and modifications
thereto and all waivers thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">ARTICLE V.<BR>
REPRESENTATIONS AND WARRANTIES OF BANCFIRST</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">BancFirst hereby represents
and warrants to Pegasus, as of the date of this Agreement and as of the Closing Date (except those representations and warranties
that are made as of a specific date need be true only as of such date) as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">5.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Organization,
Standing and Authority</U>. BancFirst is a corporation duly organized, validly existing and in good standing under the laws of
the State of Oklahoma. BancFirst has the full corporate power and authority to own, lease and operate all of its properties and
assets and to carry on its business as it is now being conducted and is duly licensed or qualified to do business and is in good
standing in each jurisdiction in which the nature of the business conducted by it or the character or location of the properties
and assets owned or leased by it makes such licensing or qualification necessary, except where the failure to be so licensed,
qualified or in good standing would not have a material adverse effect on the ability of BancFirst to consummate the transactions
contemplated hereby. BancFirst is duly registered as a financial holding company under the Bank Holding Company Act of 1956, as
amended, and is otherwise duly authorized, qualified and licensed under all applicable laws, regulations or order of Governmental
Entities to conduct business as a bank holding company as presently conducted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">5.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Authorized
and Effective Agreement; Consents and Approvals</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BancFirst
has all requisite corporate power and authority to enter into this Agreement and each of the other Transaction Documents and (subject
to receipt of all necessary approvals from applicable Bank Regulators) to perform all of its obligations under this Agreement and
each of the other Transaction Documents. The execution and delivery of this Agreement and the other Transaction Documents and the
consummation of the transactions contemplated hereby and thereby have been duly and validly authorized by all necessary corporate
action in respect thereof on the part of BancFirst. This Agreement has been duly and validly executed and delivered by BancFirst
(and each other Transaction Document to which BancFirst is a party will be duly and validly executed and delivered at Closing)
and constitutes (or will constitute) legal, valid and binding obligations of BancFirst which are enforceable against BancFirst
in accordance with their respective terms, except as limited by applicable bankruptcy, insolvency, reorganization, moratorium or
other similar laws affecting creditors&rsquo; rights generally, and except that the availability of equitable remedies (including,
without limitation, specific performance) is within the discretion of the appropriate court.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None
of the execution and delivery of this Agreement or the other Transaction Documents by BancFirst, the consummation by BancFirst
of the transactions contemplated hereby or thereby in accordance with the terms hereof or thereof, or compliance by BancFirst with
any of the terms or provisions hereof or thereof, will (i) violate any provision of the certificate of incorporation or bylaws
of BancFirst, (ii) assuming that the consents and approvals set forth herein are duly obtained, violate any statute, code, ordinance,
rule, regulation, judgment, order, writ, decree or injunction applicable to BancFirst or any of its properties or assets, (iii)
violate, conflict with, result in a breach of any provisions of, constitute a default (or an event which, with notice or lapse
of time, or both, would constitute a default) under, result in the termination of, accelerate the performance required by, or result
in the creation of any lien, security interest, charge or other encumbrance upon any of the properties or assets of BancFirst under
any of the terms, conditions or provisions of any note, bond, mortgage, indenture, deed of trust, license, lease, agreement or
other instrument or obligation to which BancFirst is a party, or by which any of its properties or assets may be bound or affected,
except, with respect to (ii), and (iii) above, such as individually or in the aggregate would not reasonably be expected to materially
prevent or delay the consummation of the transactions contemplated hereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
for (i) consents and approvals of or filings or registrations with or notices to the FRB and the TDB, (ii) the filing of the Certificate
of Exchange with the Texas Secretary of State pursuant to the TBOC, (iii) any consents, authorizations, approvals, filings or exemptions
in connection with compliance with the rules and regulations of any applicable SRO, the rules of the NASDAQ, or any other federal
and state securities (or related) laws, no consents or approvals of or filings or registrations with or notices to any federal,
state, municipal or other governmental or regulatory commission, board, agency or non-governmental third party are required on
behalf of BancFirst in connection with (A) the execution and delivery of this Agreement or any other Transaction Document by BancFirst,
or (B) the completion by BancFirst of the transactions contemplated hereby or thereby. BancFirst has no reason to believe that
it will not receive regulatory approval of the transactions contemplated hereby and has no knowledge of any facts that would prevent,
or result in a material delay in the ability of, BancFirst to consummate the transactions contemplated hereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">5.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Legal
Proceedings</U>. There are no existing or, to the knowledge of BancFirst, threatened, legal, administrative, arbitral or other
proceedings, claims, actions, controversies or governmental investigations of any nature against or involving BancFirst which
could reasonably be expected to have a material adverse effect on the ability of BancFirst to consummate the transactions contemplated
by this Agreement or any other Transaction Document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">5.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Brokers
and Finders</U>. Other than D.A. Davidson &amp; Co., the fees of which will be paid by BancFirst, neither BancFirst nor any of
its Affiliates, directors, officers, employees or agents has employed any broker or finder or incurred any liability for any financial
advisory fees, brokerage fees, commissions or finder&rsquo;s fees, and no broker or finder has acted directly or indirectly for
BancFirst in connection with this Agreement or the other Transaction Documents or any of the transactions contemplated hereby
or thereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">5.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Disclosures</U>.
None of the representations and warranties of BancFirst contained in this Agreement or in the other Transaction Documents contains
or will contain any untrue statement of a material fact, or omits or will omit to state any material fact required to be stated
or necessary to make any such information or document, at the time and in light of the circumstances (including, without limitation,
the nature and scope of the information described in the representation, warranty, information or document), not misleading. Copies
of all documents that BancFirst has previously delivered or made available to Pegasus pursuant to this <U>Article V</U> are true,
correct and complete copies thereof in all material respects and include all amendments, supplements and modifications thereto
and all waivers thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">ARTICLE VI.<BR>
COVENANTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">6.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Commercially
Reasonable Efforts</U>. Subject to the terms and conditions of this Agreement, each party to this Agreement shall use its commercially
reasonable efforts in good faith to take, or cause to be taken, all actions, and to do, or cause to be done, all things reasonably
necessary or advisable under applicable laws and regulations so as to permit consummation of the transactions contemplated by
this Agreement or by any other Transaction Document (including, without limitation, satisfaction of the conditions to Closing
specified in <U>Article VII</U> of this Agreement) on or before 120 days after the date of this Agreement or, in the event that
requisite regulatory and other approvals have not yet been obtained, as promptly as practicable thereafter, and to otherwise enable
consummation of the transactions contemplated hereby, and shall cooperate fully with the other party or parties hereto to that
end.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">6.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Consents</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BancFirst
and Pegasus, as applicable, shall each give any notices to third parties and will proceed diligently and in good faith, and will
use commercially reasonable efforts to obtain, as promptly as practicable, all consents and approvals that may be required in connection
with the execution or performance of this Agreement or any other Transaction Document. Each of such parties agrees to consult with
the other with respect to obtaining all necessary consents and approvals of third parties, including the FRB and TDB, necessary
to consummate the transactions contemplated hereby or by any other Transaction Document and to keep the other apprised of the status
regarding such applications, notices or other approvals required to consummate the transactions contemplated hereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Without
limiting the generality of <U>Section 6.2(a)</U> above, BancFirst shall promptly, but in no event later than 30 calendar days following
the date of this Agreement, file or cause to be filed applications or notifications for all regulatory approvals required to be
obtained by BancFirst in connection with this Agreement and the transactions contemplated hereby. BancFirst shall promptly furnish
Pegasus with copies of all such regulatory filings and all correspondence for which confidential treatment has not been requested.
BancFirst shall use commercially reasonable efforts to obtain all such regulatory approvals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">6.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Investigation
and Confidentiality</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="color: black">Pegasus
shall permit BancFirst and its representatives access to the properties and personnel, and shall disclose and make available to
BancFirst all books, papers and records relating to the assets, stock ownership, properties, operations, obligations and liabilities
of Pegasus including, without limitation, all books of account (including the general ledger), tax records, minute books of meetings
of boards of directors (and any committees thereof) and shareholders, organizational documents, bylaws, material contracts and
agreements, filings with any regulatory authority, accountants&rsquo; work papers, litigation files, loan files, plans affecting
employees, and any other business activities or prospects in which BancFirst may have a reasonable interest; </FONT><U>provided</U>,
that such access shall be reasonably related to the transactions contemplated hereby, shall not unduly interfere with normal operations
and shall not violate any law or agreement or constitute the waiver of any privilege. Pegasus shall make its directors, officers,
employees and agents and authorized representatives available to confer with BancFirst and its representatives, provided that such
access shall be reasonably related to the transactions contemplated by this Agreement and not unduly interfere with normal operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
information furnished to BancFirst or its representatives by Pegasus previously in connection with the transactions contemplated
by this Agreement or pursuant hereto shall be held in confidence by BancFirst and not revealed to any other party except its representatives,
agents, employees, attorneys and accountants familiar with this confidentiality restriction. <FONT STYLE="color: windowtext">Neither
BancFirst nor any of its </FONT>representatives, agents, employees, attorneys or accountants shall use Pegasus&rsquo; information
(i) other than in connection with the transactions contemplated by this Agreement or as appropriate for obtaining regulatory approvals,
or (ii) to gain a competitive advantage over Pegasus. In the event that this Agreement is terminated for any reason, BancFirst
will return to Pegasus all Pegasus documents furnished to BancFirst by Pegasus without BancFirst keeping any copy thereof and will
not use any of the information provided by Pegasus for solicitation of any Pegasus customers or employees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">6.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Press
Releases</U>. Pegasus understands that BancFirst is a public company and that the existence and terms of this Agreement must be
made public in accordance with applicable securities laws pertaining thereto. BancFirst and Pegasus shall agree with each other
as to the form and substance of any initial press release related to this Agreement or the transactions contemplated hereby prior
to the issuance thereof, and consult with each other as to the form and substance of other public disclosures which may relate
to the transactions contemplated by this Agreement; <U>provided</U>, that nothing contained herein shall prohibit either party,
following notification to the other party, from making any disclosure which it determines in good faith is required by law or
regulation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">6.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Business
of Pegasus</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During
the period from the beginning of this Agreement and continuing until the Closing, except as expressly contemplated or permitted
by this Agreement or with the prior written consent of BancFirst, Pegasus shall carry on its business diligently and in the ordinary
course consistent with past practice (including, without limitation, the amount and types of loans originated as of the date hereof).
Pegasus shall use all commercially reasonable efforts to (x) preserve its business organizations intact, (y) keep available to
itself and BancFirst the present services of the employees of Pegasus (unless such employees are terminated for cause or, with
the prior written consent of BancFirst, for failure to adequately perform or other reason) and (z) preserve for itself and BancFirst
the goodwill of the customers of Pegasus and others with whom business relationships exist. Without limiting the generality of
the foregoing, except with the prior written consent of BancFirst, between the date of this Agreement and the Closing, Pegasus
shall not:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;on
or after the Valuation Date, other than the Final Dividend (if declared) based on the Pegasus Tangible Shareholders Equity as of
the Valuation Date, declare, set aside, make or pay any dividend or other distribution (whether in cash, stock or property or any
combination thereof) in respect of Pegasus Common Stock;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;issue
any shares of its capital stock, or issue, grant, modify or authorize any Rights or effect any recapitalization, reclassification,
stock dividend, stock split or like change in capitalization;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;amend
its articles of association or bylaws; impose, or suffer the imposition, on any share of stock held by Pegasus of any material
lien, charge or encumbrance or permit any such lien to exist; or, except in the ordinary course of business, waive or release any
right or cancel or compromise any debt or claim;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;increase
the rate of compensation of any of its directors, executive officers or employees, or, except as set forth on <U>Schedule 6.5(a)(iv)</U>,
pay or agree to pay any bonus or severance to, or provide any other new employee benefit or incentive to, any of its directors,
officers or employees; <U>provided</U>, that any such payments shall be paid and expensed prior to the Valuation Date, or such
payments shall be fully accrued by Pegasus prior to the Valuation Date;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;enter
into or, except as may be required by law and except for the Transaction Documents, modify any pension, retirement, stock option,
stock purchase, stock appreciation right, savings, profit sharing, deferred compensation, supplemental retirement, consulting,
bonus, group insurance or other employee benefit, incentive or welfare contract, plan or arrangement, or any trust agreement related
thereto, in respect of any of its directors, officers or employees; or make any contributions to the Pegasus Employee Plans not
in the ordinary course consistent with past practice;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;enter
into, renew or otherwise extend (w) any material agreement, arrangement, commitment or understanding not made in the ordinary course
of business and which is not terminable at the election of Pegasus without payment of any penalty or similar termination fee on
not more than 30 calendar days&rsquo; written notice, (x) any agreement, indenture or other instrument relating to the borrowing
of money (other than in the case of deposits, federal funds purchased and securities sold under agreements to repurchase in the
ordinary course of business) or guarantee of any such obligation, or (y) any agreement, arrangement or commitment relating to the
employment or severance of an officer, employee or consultant or amend any such existing agreement, except that an individual may
be employed in the ordinary course of business if the employment of such employee is terminable at will without liability, other
than as required by law;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(vii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;change
its method of accounting in effect for the year ended December 31, 2018, except as required by changes in laws, regulations or
GAAP, or change any of its methods of reporting income and deductions for federal income tax purposes from those employed in the
preparation of its federal income tax return for the year ended December 31, 2018, except as required by changes in laws or regulations;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(viii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;purchase
or otherwise acquire, or sell or otherwise dispose of, any assets or incur any liabilities other than in the ordinary course of
business consistent with past practice and policies;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(ix)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;make
any capital expenditures in excess of $100,000 per expenditure or commitment and not exceeding $250,000 in the aggregate;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(x)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;filing
the applications or making a contract with respect to branching, site location or relocation or closing of a branch;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(xi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;acquire
in any manner whatsoever (other than to realize upon collateral for a defaulted loan) any business or entity;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(xii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;engage
in any transaction with an Affiliate, other than transactions in the ordinary course of business consistent with past practice
and which (x) in the case of any loan or deposit are made on terms (including interest rate and, with respect to loans, collateral)
substantially similar to those prevailing at the time for comparable transactions by Pegasus with non-Affiliates, and (y) are in
compliance with all other requirements of applicable laws and regulations;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(xiii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;enter
into any futures contract, option contract, interest rate caps, interest rate floors, interest rate exchange agreement or other
similar agreement for purposes of hedging the exposure of its interest-earning assets and interest-bearing liabilities to changes
in market rates of interest;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(xiv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;discharge
or satisfy any material lien or encumbrance or pay any material obligation or liability (absolute or contingent) other than at
scheduled maturity or in the ordinary course of business;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(xv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;enter
or agree to enter into any agreement or arrangement granting any preferential right to purchase any of its assets;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(xvi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;invest
in any investment securities other than (A) federal funds, or (B) such securities as BancFirst shall approve in writing;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(xvii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;purchase
any loan participation in, or make or commit to make any new loan or letter of credit, make or commit to make any new or additional
discretionary advance under any existing line of credit (A) in excess of $1,000,000 to any officer or director (or any of their
related interests as such term is defined in Regulation O) of Pegasus, or (B) regardless of amount to any borrower or affiliate
of such borrower who has an existing loan carried by Pegasus as an internally classified or watch-list loan or classified as special
mention, substandard, doubtful or loss a Bank Regulator, or to any such borrower or affiliate for the purpose of such borrower
or affiliate making a regularly scheduled payment to Pegasus;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(xviii)&nbsp;&nbsp;&nbsp;&nbsp;purchase
any loan participation in, or make or commit to make any new loan or letter of credit, make or commit to make any new or additional
discretionary advance under any existing line of credit in principal amounts in excess of $2,500,000 for unsecured credits or $5,000,000
for secured credits or that would increase the aggregate credit outstanding to any one borrower (or group of affiliated borrowers)
by an amount exceeding $2,500,000 if unsecured or $5,000,000 if secured without Pegasus having given Dennis L. Brand, on behalf
of BancFirst, a copy of Pegasus&rsquo; credit application within 24 hours after being finalized by Pegasus;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(xix)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;extend,
amend, modify or renew any loan or extension of credit without full collection of all regularly scheduled interest and principal
payments unless and until Pegasus has given BancFirst prior written notice of Pegasus&rsquo; intent to extend, amend, modify or
renew such loan or extension of credit and BancFirst has not sent Pegasus notice of disapproval within three Business Days of receipt
of Pegasus&rsquo; notice;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(xx)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;purchase
brokered deposits, materially alter its method of establishing interest rates on deposit products, or increase the rates it pays
on deposit products except for increases pursuant to changes in rates paid on such deposit products generally in Dallas County,
Texas;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(xxi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;knowingly
take any willful action that would result in any of the representations and warranties contained in this Agreement not to be true
and correct in any material respect at the Closing or that could reasonably result in any material delay in consummation of the
transactions contemplated hereby; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(xxii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;agree
to do any of the foregoing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Notwithstanding the restrictions
set forth in <U>Sections 6.5(a)(xviii)</U> and <U>6.5(a)(xix)</U>, Pegasus may extend, amend, modify or renew any existing loan
or extension of credit without prior notice to BancFirst provided that (A) the extension, amendment, modification or renewal is
in the ordinary course of business, (B) the loan or credit being extended, amended, modified or renewed is not classified special
mention, substandard or doubtful by any Bank Regulator or internally by Pegasus, and (C) Pegasus does not advance or commit any
additional funds.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
for written materials concerning portions of any meetings concerning this Agreement or the transactions contemplated hereby, Pegasus
shall provide to a representative designated by BancFirst, in its sole discretion, copies of any written materials provided to
the Board of Directors (or any committee thereof) of Pegasus currently with the delivery of such materials to the individual Board
and committee members.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Promptly
following a written request from BancFirst, in its sole discretion, Pegasus shall take all action necessary on the last Business
Day immediately preceding the Closing Date to terminate any employee savings plan of Pegasus, if any, causing each participant&rsquo;s
account thereunder to be fully vested.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
accordance with the methodology traditionally and currently used by Pegasus, as such methodology is illustrated on <U>Exhibit C</U>
hereto, Pegasus shall (i) maintain its practice of charging off or charging down loans against its Allowance, and (ii) have an
Allowance as of the Valuation Date and as of the Closing Date in an amount adequate for the risk in Pegasus&rsquo; loan portfolio.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">6.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Shareholder
Approval</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pegasus
shall, promptly after the execution of this Agreement, commence to take such actions as may be necessary to obtain adoption and
approval of this Agreement and the transactions contemplated hereby by the shareholders of Pegasus, including, without limitation,
distributing proxy materials or information statements to the holders of Pegasus Common Stock on or before the later of (i) five
Business Days after BancFirst&rsquo;s regulatory applications are accepted for processing, or (ii) 30 calendar days of the date
of this Agreement, and scheduling a meeting of the holders of Pegasus Common Stock to consider the adoption and approval of this
Agreement. BancFirst will promptly furnish to Pegasus any information which Pegasus may reasonably request in connection with the
preparation of such materials. Upon completion of preparation by Pegasus of such materials, Pegasus will promptly furnish to BancFirst
a copy thereof which Pegasus proposes to send to its shareholders and shall (i) provide BancFirst with a reasonable opportunity
to review and comment on such materials, and (ii) include in such materials all comments from BancFirst to the extent reasonably
acceptable to Pegasus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject
to <U>Section 6.6(c)</U>: (i) the Board of Directors of Pegasus shall recommend that Pegasus&rsquo; shareholders vote in favor
of and adopt and approve at the Pegasus shareholders&rsquo; meeting both this Agreement and the related Share Exchange; (ii) the
Pegasus proxy or information statement (as applicable) shall include a statement to the effect that the Board of Directors of Pegasus
has recommended that Pegasus&rsquo; shareholders vote in favor of and adopt and approve both this Agreement and the related Share
Exchange at the Pegasus shareholders&rsquo; meeting; and (iii) neither the Board of Directors of Pegasus nor any committee thereof
shall withdraw, amend or modify, or propose or resolve to withdraw, amend or modify in a manner adverse to BancFirst, the recommendation
that Pegasus&rsquo; shareholders vote in favor of and adopt and approve this Agreement and the Share Exchange.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nothing
in this Agreement shall prevent the Board of Directors of Pegasus from, prior to a favorable vote of the Pegasus shareholders,
withholding, withdrawing, amending or modifying its recommendation in favor of adopting and approving this Agreement and the Share
Exchange or from not including its recommendation in favor of adopting and approving this Agreement and the Share Exchange in the
Pegasus proxy or information statement if (i) a Superior Proposal is made to Pegasus and not withdrawn; (ii) neither Pegasus nor
any of its representatives shall have violated any of the restrictions set forth in <U>Section 6.7</U>; (iii) the Board of Directors
of Pegasus concludes in good faith, after consultation with and receiving advice from its outside counsel, that, in light of such
Superior Proposal, the withholding, withdrawal, amendment or modification of such recommendation is necessary in order for the
Board of Directors of Pegasus to comply with its fiduciary obligations to Pegasus&rsquo; shareholders under applicable law; and
(iv) to the extent applicable, Pegasus complies with the requirements of <U>Section 6.7</U>; <U>provided</U>, that prior to any
withholding, withdrawal, amendment or modification of the Pegasus Board&rsquo;s recommendation, Pegasus shall have given BancFirst
at least two Business Days notice thereof and the opportunity to meet with Pegasus and its counsel. Nothing contained in this <U>Section
6.6(c)</U> shall limit Pegasus&rsquo; obligation to hold and convene the Pegasus shareholders&rsquo; meeting (regardless of whether
the recommendation of the Board of Directors of Pegasus shall have been withheld, withdrawn, amended or modified).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">6.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Solicitation</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Until
the earlier of the Closing Date or the date of termination of this Agreement, neither Pegasus nor any of its Affiliates or agents
will, directly or indirectly, solicit, initiate or participate in negotiations with any Person other than BancFirst with respect
to the disposition of any of the equity securities of Pegasus or any option with respect thereto, or the merger or acquisition
of Pegasus with another Person, or any disposition of all or any significant portion of the assets of Pegasus not in the ordinary
course of business, or any similar transaction (each, an &ldquo;<U>Acquisition Proposal</U>&rdquo;), nor shall Pegasus or any of
its Affiliates or agents provide any information concerning Pegasus with respect to an Acquisition Proposal; <U>provided</U>, that
this <U>Section&nbsp;6.7(a)</U> shall not prohibit Pegasus or its Board of Directors from (A) furnishing information regarding
Pegasus to, entering into a customary confidentiality agreement with, or entering into discussions with any Person in response
to a Superior Proposal submitted by such Person (and not withdrawn), (B) taking the actions described in <U>Section 6.6(c)</U>
as permitted thereby, (C) recommending a Superior Proposal to Pegasus&rsquo; shareholders, or (D)&nbsp;terminating this Agreement
pursuant to <U>Section&nbsp;8.1(d)</U> in order to immediately thereafter enter into a definitive agreement with respect to such
Superior Proposal, if in the case of either (A), (B), (C) or (D), (1) neither Pegasus nor any of its Affiliates or agents shall
have violated any of the restrictions set forth in this <U>Section&nbsp;6.7</U>, (2) the Board of Directors of Pegasus concludes
in good faith, after consultation with its outside legal counsel, that such action is necessary in order for the Board of Directors
of Pegasus to comply with its fiduciary obligations to Pegasus&rsquo; shareholders under applicable law, (3)(x) at least two Business
Days prior to furnishing any such nonpublic information to, or entering into discussions or negotiations with, such Person, Pegasus
gives BancFirst written notice of the identity of such Person and of Pegasus&rsquo; intention to furnish nonpublic information
to, or enter into discussions or negotiations with, such Person, and (y) Pegasus receives from such Person an executed confidentiality
agreement containing customary limitations on the use and disclosure of all written and oral information furnished to such Person
by or on behalf of Pegasus, and (4) contemporaneously with furnishing any such information to such Person, Pegasus furnishes such
information to BancFirst. Pegasus will immediately cease any and all existing activities, discussions or negotiations with any
parties conducted heretofore with respect to any Acquisition Proposal. Without limiting the foregoing, it is understood that any
violation of the restrictions set forth in this <U>Section 6.7(a)</U> by any officer or director of Pegasus or any investment banker,
attorney or other advisor or representative of Pegasus shall be deemed to be a breach by Pegasus of this <U>Section&nbsp;6.7(a)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition to the obligations of Pegasus set forth in <U>Section 6.7(a)</U>, Pegasus shall, as promptly as practicable, advise BancFirst
orally and in writing of any request received by Pegasus for information which Pegasus reasonably believes would lead to an Acquisition
Proposal or of any Acquisition Proposal, or any inquiry received by Pegasus with respect to, or which Pegasus reasonably believes
would lead to, any Acquisition Proposal, the material terms and conditions of such request, Acquisition Proposal or inquiry, and
the identity of the person or group making any such request, Acquisition Proposal or inquiry. Pegasus will keep BancFirst informed
in all material respects of the status and details (including, without limitation, material amendments or proposed amendments)
of any such request, Acquisition Proposal or inquiry.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">6.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Fees
and Expenses</U>. Pegasus shall pay all fees and expenses of Pegasus in the usual, regular and ordinary course in substantially
the same manner as heretofore conducted and shall pay or cause to be paid (or fully accrued) the following expenses prior to the
Effective Time: (a) all Pegasus Transaction Expenses incurred up to the Effective Time, and (b) any other fees or expenses required
to be paid prior to the Effective Time pursuant to the terms of this Agreement. All such fees and expenses shall be paid and fully
expensed or accrued and reflected on Pegasus&rsquo; books for all purposes as of the Valuation Date. The fees and expenses referred
to in this <U>Section 6.8</U> shall be taken into account in the calculation of the Acquisition Consideration.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">6.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Termination
of Stock Option Plans</U>. On or prior to the Closing, Pegasus shall take all actions necessary to terminate the Stock Option
Plans and satisfy all of its obligations thereunder, including, without limitation, those relating to any outstanding Options
or SARs (as such terms are defined in the Stock Option Plans). If Pegasus takes such actions after the Valuation Date, Pegasus
shall have accrued and expensed all such obligations under the Stock Option Plans prior to the Valuation Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">6.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Disclosure
Supplements</U>. From time to time prior to the Effective Time, Pegasus shall promptly supplement or amend any materials previously
disclosed and delivered to BancFirst pursuant to this Agreement with respect to any matter arising after the date hereof which,
if existing, occurring or known at the date of this Agreement, would have been required to be set forth or described in writing
to BancFirst or which is necessary to correct any information in such prior disclosure which has been rendered inaccurate thereby;
<U>provided</U>, no such supplement or amendment shall be deemed to have modified the representations, warranties and covenants
for the purpose of determining whether the conditions set forth in <U>Article VII</U> hereof have been satisfied.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">6.11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Failure
to Fulfill Conditions</U>. In the event that either of the parties hereto determines that a condition to its respective obligations
to consummate the transactions contemplated hereby cannot be fulfilled on or prior to 120 days after the date of this Agreement,
it will promptly notify the other party or parties. Each party will promptly inform the other party or parties of any facts applicable
to it that would be likely to prevent or materially delay approval of the transactions contemplated hereby by any Governmental
Entity or third party or which would otherwise prevent or materially delay completion of the transactions contemplated hereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">ARTICLE VII.<BR>
CONDITIONS PRECEDENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">7.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Conditions
Precedent &ndash; All Parties</U>. The respective obligations of all of the parties hereto to effect the transactions contemplated
by this Agreement and the other Transaction Documents shall be subject to satisfaction of the following conditions at or prior
to the Closing, unless waived by all of the parties to this Agreement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
corporate action necessary, including approval of the Share Exchange by the shareholders of Pegasus, to authorize the execution
and delivery of this Agreement and the other Transaction Documents and the consummation of the transactions contemplated hereby
and thereby shall have been duly and validly taken by all of the parties hereto;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
necessary regulatory approvals, consents and authorizations required for the transactions contemplated hereby or by any other Transaction
Document shall have been obtained and all statutory waiting periods in respect thereof shall have expired, and no such approval
shall be conditioned or restricted in any manner which, in the reasonable judgment of BancFirst, would materially and adversely
affect the operations or prospects of the business conducted by Pegasus; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None
of the parties hereto shall be subject to any statute, rule, regulation, order, injunction or decree which shall have been enacted,
entered, promulgated or enforced by any Governmental Entity which prohibits, restricts or makes illegal consummation of the transactions
contemplated by this Agreement or any other Transaction Document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">7.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Conditions
Precedent &ndash; Pegasus</U>. The obligations of Pegasus to effect the transactions contemplated by this Agreement and the other
Transaction Documents shall be subject to satisfaction of the following conditions at or prior to the Closing, unless waived by
Pegasus pursuant to <U>Section 8.4</U>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
of the representations and warranties of BancFirst contained in this Agreement that are qualified as to their materiality shall
be true and correct and any such representations and warranties that are not so qualified shall be true and correct in all material
respects when made and as of the Closing Date, in each case, with the same effect as though such representations and warranties
had been made on and as of the Closing Date (except that representations and warranties that are made as of a specific date need
be true or, as applicable, true in all material respects only as of such date);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BancFirst
shall have performed, in all material respects, its obligations and covenants required to be performed by it on or prior to the
Closing;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BancFirst
shall have delivered to Pegasus a certificate, dated the date of the Closing and signed by the Executive Chairman, President or
an Executive Vice President of BancFirst to the effect that the conditions set forth in <U>Section 7.2(a)</U> and <U>Section 7.2(b)</U>
have been satisfied; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There
shall not be pending any proceeding initiated by any Governmental Entity to seek an order, injunction or decree which prevents
consummation of the transactions contemplated by this Agreement or any other Transaction Document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">7.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Conditions
Precedent &ndash; BancFirst</U>. The obligation of BancFirst to effect the transactions contemplated by this Agreement and the
other Transaction Documents shall be subject to satisfaction of the following conditions at or prior to the Closing, unless waived
by BancFirst pursuant to <U>Section 8.4</U> hereof:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
of the representations and warranties of Pegasus contained in this Agreement that are qualified as to their materiality shall be
true and correct and any such representations and warranties that are not so qualified shall be true and correct in all material
respects when made and as of the Closing Date, in each case, with the same effect as though such representations and warranties
had been made on and as of the Closing Date (except that representations and warranties that are made as of a specific date need
be true or, as applicable, true in all material respects only as of such date);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pegasus
shall have performed, in all material respects, its obligations and covenants required to be performed by it on or prior to the
Closing;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pegasus
shall have delivered to BancFirst a certificate, dated the date of the Closing and signed by the President of Pegasus, to the effect
that the conditions set forth in <U>Section 7.3(a)</U> and <U>Section 7.3(b)</U> have been satisfied;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
consent, approval or waiver of each Person (other than the Governmental Entities referred to in <U>Section 7.1(b)</U> hereof) whose
consent, approval or waiver shall be required in connection with the transactions contemplated by this Agreement under any material
loan or credit agreement, note, mortgage, indenture, lease, license or other agreement or instrument to which Pegasus is a party
or is otherwise bound shall have been obtained;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
of Joe Goyne and Harry Smith shall have executed and delivered to BancFirst a Retention Agreement and remained employed by Pegasus
through the Closing Date;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There
shall not be pending any proceeding initiated by any Governmental Entity to seek an order, injunction or decree which prevents
consummation of the transactions contemplated by this Agreement or any other Transaction Document;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
accordance with its methodology illustrated on <U>Exhibit C</U> hereto, Pegasus shall have (i) maintained its practice of charging
off or charging down loans against the Allowance, and (ii) had an Allowance, as of the Valuation Date and as of the Closing Date,
in an amount adequate for the risk in Pegasus&rsquo; loan portfolio;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BancFirst
shall have received evidence, reasonably satisfactory to BancFirst, that the Stock Option Plans have been terminated and Pegasus
has satisfied all of its obligations thereunder;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There
shall not have occurred between the date of this Agreement and the Closing Date, a change in the business, financial condition
or prospects of Pegasus which, either individually or in the aggregate, constitutes a Material Adverse Effect; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Holders
of not more than five percent (5%) of the outstanding shares of Pegasus Common Stock, determined as of the date hereof, shall not
have elected to exercise dissenters&rsquo; rights under Section 10.351 <U>et seq</U>. of the TBOC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">ARTICLE VIII.<BR>
TERMINATION, WAIVER AND AMENDMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">8.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Termination</U>.
This Agreement may be terminated:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;at
any time on or prior to the Closing, by the mutual consent in writing of BancFirst and Pegasus;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;at
any time on or prior to the Closing, by BancFirst in writing if Pegasus has, or by Pegasus in writing if BancFirst has, breached
(i) any material covenant or undertaking contained herein, or (ii) any representation or warranty contained herein in any material
respect if such breach is incapable of cure or has not been cured within 30 days following written notice of such breach to the
breaching party or the Closing;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;at
any time, by BancFirst or Pegasus in writing, if any of the applications for prior approval referred to in <U>Section 5.2(c)</U>
hereof are denied or, in the case of BancFirst, are approved in a manner which does not satisfy the requirements of <U>Section
7.1(b)</U> hereof, and the time period for appeals and requests for reconsideration has run, unless the failure of such occurrence
shall be due to the failure of the party seeking to terminate to perform or observe in any material respect its agreements set
forth herein to be performed or observed by such party at or before the Closing;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;by
Pegasus prior to a vote of the shareholders of Pegasus on the Agreement if, after receiving the Superior Proposal and the absence
of any prior breach of the provisions of <U>Section 6.7</U> of this Agreement, the Board of Directors of Pegasus determines in
good faith, after consulting with outside legal counsel, that such action is necessary to comply with the fiduciary duties of the
Board of Directors of Pegasus under applicable law; <U>provided</U>, that Pegasus may not terminate this Agreement pursuant to
this <U>Section 8.1(d)</U> until two Business Days have elapsed following delivery to BancFirst of written notice of such determination
by Pegasus (which notice will inform BancFirst of the material terms and conditions of the Superior Proposal);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;by
BancFirst or Pegasus in writing, if the Closing has not occurred by the close of business on September 30, 2019; <U>provided</U>,
that this right to terminate shall not be available to any party whose failure to perform an obligation under this Agreement has
been the direct and principal cause of, or directly and principally resulted in, the failure of the transactions contemplated by
this Agreement to be consummated by such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">8.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Effect
of Termination</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the event that this Agreement is terminated pursuant to <U>Section&nbsp;8.1</U> hereof, this Agreement shall become void and have
no effect, except that (i) <U>Article&nbsp;IX</U> in its entirety shall survive any such termination; and (ii) a termination pursuant
to <U>Section 8.1(b)</U> shall not relieve the breaching party from liability for any grossly negligent or willful breach of any
covenant, undertaking, representation or warranty giving rise to such termination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the event this Agreement is terminated by Pegasus pursuant to <U>Section 8.1(d)</U> hereof or the Board of Directors withdraws
its recommendation to approve this Agreement in accordance with <U>Section 6.6(b)</U>, then, in either of such events, the Company
shall pay to BancFirst a termination fee in the amount of $4,000,000 (the &ldquo;<U>Pegasus Termination Fee</U>&rdquo;), in the
manner and at the time set forth in <U>Section 8.2(c)</U> hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
the Pegasus Termination Fee becomes payable pursuant to <U>Section 8.2(b)</U>, it shall be paid by wire transfer of immediately
available funds to an account designated by BancFirst within two (2) Business Days after termination of this Agreement. Pegasus
acknowledges that the agreements contained in this <U>Section 8.2</U> are an integral part of the transactions contemplated by
this Agreement, and that without such agreements BancFirst would not have entered into this Agreement, and that such amounts do
not constitute a penalty. If Pegasus fails to promptly pay BancFirst the amounts due under this <U>Section 8.2</U> within the time
period specified herein, Pegasus shall pay all costs and expenses (including attorneys&rsquo; fees) incurred by BancFirst in connection
with any action, including the filing of any lawsuit, taken to collect payment of such amounts, together with interest from the
date due at the prime rate of interest, as adjusted from time to time, reported in the &ldquo;Money Rates&rdquo; section of <U>The
Wall Street Journal</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">8.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Survival
of Representations, Warranties and Covenants</U>. All representations, warranties and covenants in this Agreement or in any instrument
delivered pursuant hereto shall expire on, and be terminated and extinguished at, the Effective Time other than covenants that,
by their terms, are to be performed after the Effective Time. Notwithstanding the foregoing, the covenants set forth in the Retention
Agreements shall survive until the expiration of the applicable periods specified therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">8.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Waiver</U>.
Each party hereto by written instrument may at any time extend the time for the performance of any of the obligations or other
acts of the other party hereto and may waive (a) any inaccuracies of the other party in the representations or warranties contained
in this Agreement or any document delivered pursuant hereto, (b) compliance with any of the covenants, undertakings or agreements
of the other party or, to the extent permitted by law, satisfaction of any of the conditions precedent to its obligations contained
herein, or (c) the performance by the other party of any of its obligations set forth herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">8.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Amendment
or Supplement</U>. This Agreement may be amended or supplemented at any time by a mutual agreement in writing executed by each
of the parties hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">ARTICLE IX.<BR>
MISCELLANEOUS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">9.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Expenses</U>.
BancFirst shall bear and pay all costs and expenses incurred by it in connection with the transactions contemplated by this Agreement.
Pegasus shall bear and pay all costs and expenses incurred by Pegasus in connection with the transactions contemplated by this
Agreement, including, the Pegasus Transaction Expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">9.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Entire
Agreement</U>. This Agreement (including the Exhibits hereto) and the other Transaction Documents contain the entire agreement
among the parties with respect to the transactions contemplated hereby and supersede all prior arrangements or understandings
with respect thereto, written or oral.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">9.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Assignment;
Successors; Third-Party Beneficiaries</U>. None of the parties hereto may assign any of its rights or obligations under this Agreement
to any other person without the prior written consent of the other party or parties. The terms and conditions of this Agreement
shall inure to the benefit of and be binding upon the parties hereto and their respective successors. Nothing in this Agreement
is intended to confer upon any party, other than the parties hereto, and their respective successors, any rights, remedies, obligations
or liabilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">9.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Specific
Performance; Remedies Not Exclusive</U>. Each party hereto acknowledges that the other party shall be irreparably harmed and that
there shall be no adequate remedy at law for any violation by any of them of any of the covenants or agreements contained in this
Agreement. Accordingly, it is agreed that, in addition to, but not in lieu of, any other remedies which may be available upon
the breach of any such covenants or agreements, each party hereto shall have the right to obtain injunctive relief to restrain
a breach or threatened breach of, or otherwise to obtain specific performance of, the other parties&rsquo; covenants and agreements
contained in this Agreement. All rights and remedies of the parties under this Agreement shall be cumulative, and the exercise
of one or more rights or remedies will not preclude the exercise of any other right or remedy available under this Agreement (including
the Exhibits hereto) or applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">9.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Attorneys&rsquo;
Fees</U>. If any legal action or other proceeding is brought for the enforcement of this Agreement, or as a result of any other
dispute in connection with any of the provisions of this Agreement, the prevailing party shall be entitled to recover reasonable
attorneys&rsquo; fees and other costs and expenses incurred in that action or proceeding, including any administrative costs of
an arbitration in addition to any other relief to which it may be entitled.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">9.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Notices</U>.
All notices or other communications which are required or permitted hereunder shall be in writing and sufficient if delivered
personally or sent by nationally-recognized overnight delivery service (such overnight notice to be effective one Business Day
after the date sent by such delivery service), or sent by facsimile or email transmission, with confirmed receipt, addressed as
follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">If to Pegasus, to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Pegasus Bank</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Attn:&nbsp;&nbsp;Joe
Goyne, Chairman</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4515 West Mockingbird
Lane</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Dallas, Texas 75209</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Fax: &nbsp;&nbsp; (214)
357-3204</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Email:&nbsp;&nbsp;JGoyne@pegasusbankdallas.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">With a required copy
to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Larry Temple</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">400 West 15<SUP>th</SUP>
Street, Suite 705</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Austin, Texas 78701</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Fax:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(512) 477-4478</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Email:&nbsp;&nbsp;&nbsp;larry@larrytemple.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">If to BancFirst, to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">BancFirst Corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Attn:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;David E. Rainbolt,
Executive Chairman</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">P.O. Box 26788</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Oklahoma City, Oklahoma
73126-0788</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Fax:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(405) 270-1089</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Email:&nbsp;&nbsp;&nbsp;davidr@bancfirst.bank</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">With a required copy
to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">BancFirst Corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Attn:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brian Pierson,
General Counsel</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">P.O. Box 26788</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Oklahoma City, Oklahoma
73126-0788</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Fax: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(405) 270-1089</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Email:&nbsp;&nbsp;&nbsp;&nbsp;brian.pierson@bancfirst.bank</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">9.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Counterparts</U>.
This Agreement may be executed in any number of counterparts, and each such counterpart shall be deemed to be an original instrument,
but all such counterparts together shall constitute but one agreement. An electronic or facsimile transmission of a signed counterpart
of this Agreement shall be sufficient to bind the party or parties whose signature(s) appear thereon.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">9.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Alternative
Structure</U>. Notwithstanding any provision of this Agreement to the contrary, BancFirst may elect, subject to the filing of
all necessary applications and the receipt of all required regulatory approvals, to modify the structure of the acquisition of
Pegasus set forth herein, provided that (a) the consideration to be paid to the holders of Pegasus Common Stock is not thereby
changed in kind or reduced in amount as a result of such modification or alters the taxation of any amounts to be received by
the holders of Pegasus Common Stock, and (b) such modification will not materially delay or jeopardize receipt of any required
regulatory approvals or any other condition to BancFirst&rsquo;s obligations set forth in <U>Section 7.1</U> and <U>Section 7.3
</U>hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">9.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Governing
Law</U>. This Agreement shall be governed by and construed in accordance with the laws of the State of Texas applicable to agreements
made and entirely to be performed within such jurisdiction except to the extent federal law may be applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">9.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Further
Assurances</U>. Each party hereto shall do and perform or cause to be done and performed all such further acts and things and
shall execute and deliver all such other agreements, certificates, instruments, and documents as any other party hereto reasonably
may request in order to carry out the provisions of this Agreement and the consummation of the transactions contemplated hereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF,
the parties hereto have caused this Agreement to be executed by their duly authorized officers as of the day and year first above
written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">BANCFIRST CORPORATION</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 47%; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">By:&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">/s/ David E. Rainbolt</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">David E. Rainbolt, Executive Chairman</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">PEGASUS BANK</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">/s/ Joe Goyne</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Joe Goyne, Chairman</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[SIGNATURE PAGE TO SHARE EXCHANGE AGREEMENT]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B><U>EXHIBIT A</U></B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>CERTIFICATE OF EXCHANGE</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">BancFirst Corporation,
an Oklahoma corporation (&ldquo;<U>BancFirst</U>&rdquo;), and Pegasus Bank, a Texas banking corporation (&ldquo;<U>Pegasus</U>&rdquo;),
pursuant to Section&nbsp;10.151 of the Texas Business Organizations Code and for purposes of effecting an interest exchange whereby
BancFirst will acquire all of the issued and outstanding shares of Pegasus, do hereby certify:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">FIRST.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
name, organizational form and state of formation of each domestic entity and non-code organization that is a party to the Share
Exchange Agreement, dated ____________, 2019 (the &ldquo;<U>Agreement</U>&rdquo;), are BancFirst Corporation, an Oklahoma corporation,
and Pegasus Bank, a Texas banking corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">SECOND.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
signed Agreement is on file at the principal place of business of BancFirst and Pegasus. The addresses of the principal places
of business of BancFirst and Pegasus are:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">BancFirst Corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">101 N. Broadway</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Oklahoma City, Oklahoma
73102</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Pegasus Bank</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4515 West Mockingbird
Lane</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">Dallas, Texas
75209</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">THIRD.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
copy of the Agreement will be on written request furnished without cost by BancFirst and Pegasus to any shareholder of the respective
corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">FOURTH.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Agreement has been approved as required by the laws of Oklahoma and Texas and by the governing documents of BancFirst and Pegasus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">FIFTH.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Certificate of Exchange, the Agreement and the share exchange being effected pursuant to the Agreement shall become effective as
of 5:00 p.m., Central Time, on _________________, 2019.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The undersigned sign
this document subject to the penalties imposed by law for the submission of a materially false or fraudulent document. The undersigned
certify that he statements contained herein are true and correct, and that the person signing is authorized under the provisions
of the Texas Business Organizations Code, or other law applicable to and governing BancFirst and Pegasus, to execute the filing
instrument.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify; text-indent: 0in">BANCFIRST CORPORATION</TD>
    <TD STYLE="text-align: justify; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; text-indent: 0in">PEGASUS BANK</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; text-align: justify; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 45%; text-align: justify; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 45%; text-align: justify; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-indent: 0in">By:&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 0in">By:&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 0in">David Rainbolt, Executive Chairman</TD>
    <TD STYLE="text-align: justify; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in">Joe Goyne, Chairman</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B><U>Exhibit A</U> to the<BR>
Share Exchange Agreement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0.5in"><B><U>EXHIBIT B</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B><U>SHAREHOLDER VOTING
AGREEMENT</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">___________, 2019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">BancFirst Corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">P.O. Box 26788</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Oklahoma City, OK 73126-0788</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The undersigned shareholder
of Pegasus Bank, Dallas, Texas, a Texas banking corporation (&ldquo;<U>Pegasus</U>&rdquo;), understands that BancFirst Corporation,
an Oklahoma corporation (&ldquo;<U>BancFirst</U>&rdquo;), is concurrently herewith entering into a Share Exchange Agreement (the
&ldquo;<U>Share Exchange Agreement</U>&rdquo;) with Pegasus. Subject to the terms and conditions of the Share Exchange Agreement,
Pegasus will acquire all of the issued and outstanding shares of common stock of Pegasus (the &ldquo;<U>Pegasus Common Stock</U>&rdquo;),
and the Pegasus Common Stock will be converted into the right to receive the Acquisition Consideration described therein (the
&ldquo;<U>Share Exchange</U>&rdquo;). Capitalized terms used but not defined herein shall have the respective meanings given to
such terms in the Share Exchange Agreement. <FONT STYLE="text-underline-style: double">The obligations of the undersigned pursuant
to this Shareholder Voting Agreement (the &ldquo;</FONT><U>Voting Agreement</U><FONT STYLE="text-underline-style: double">&rdquo;)
shall terminate upon the earlier of (a) consummation of the Share Exchange, or (b) the termination of the Share Exchange Agreement
unless the Share Exchange Agreement is terminated (x) by BancFirst in accordance with </FONT><U>Section 8.1(b)</U> <FONT STYLE="text-underline-style: double">of
the Share Exchange Agreement, or (y) by Pegasus in accordance with </FONT><U>Section 8.1(d)</U> <FONT STYLE="text-underline-style: double">of
the Share Exchange Agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
order to induce BancFirst and Pegasus to enter into the <FONT STYLE="text-underline-style: double">Share Exchange Agreement</FONT>,
and intending to be legally bound hereby, the undersigned hereby represents, warrants and agrees that at the meeting of Pegasus&rsquo;
shareholders contemplated by <U>Section&nbsp;6.6</U> of the <FONT STYLE="text-underline-style: double">Share Exchange Agreement
</FONT>and any adjournment thereof, the undersigned will, in person or by proxy, vote or cause to be voted all of the shares of
Pegasus Common Stock beneficially owned by the undersigned individually or, to the extent of the undersigned&rsquo;s proportionate
voting interests, jointly with other persons, as well as (to the extent of the undersigned&rsquo;s proportionate voting interest)
any other shares of Pegasus Common Stock over which the undersigned may hereafter acquire beneficial ownership (collectively,
the &ldquo;<U>Shares</U>&rdquo;) in favor of the <FONT STYLE="text-underline-style: double">Share Exchange Agreement </FONT>and
the Share Exchange. The undersigned further agrees that he or she will use his or her commercially reasonable efforts to cause
any other shares of Pegasus Common Stock over which he or she has or shares voting power or with respect to which the undersigned
may provide instructions or similar advice to a trustee to be voted in favor of the <FONT STYLE="text-underline-style: double">Share
Exchange Agreement</FONT> and the Share Exchange.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
undersigned represents and warrants that he or she has or shares the beneficial ownership of the number of shares of Pegasus Common
Stock set forth opposite his or her name on <U>Schedule 1</U> hereto. The undersigned further represents, warrants and agrees
that until the earlier of (i) the consummation of the transactions contemplated by the <FONT STYLE="text-underline-style: double">Share
Exchange Agreement,</FONT> or (ii) the termination of this Voting Agreement in accordance with its terms, the undersigned will
not, directly or indirectly:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Exhibit
B</U> to the<BR>
Share Exchange Agreement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;vote
any of the Shares, or cause or permit any of the Shares to be voted, in favor of (i) any other acquisition, consolidation, plan
of liquidation, sale of assets, reclassification or other transaction involving Pegasus that would have the effect of any Person,
other than BancFirst or an affiliate of BancFirst, acquiring Control (as defined below) over Pegasus or any substantial portion
of the assets of Pegasus; (ii) any acquisition or purchase from Pegasus by any person or &ldquo;group&rdquo; (as defined under
Section 13(d) of the Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder (collectively, the &ldquo;<U>Exchange
Act</U>&rdquo;)) of more than a 15% interest in the total outstanding voting securities of Pegasus or any tender offer or exchange
offer that if consummated would result in any person or &ldquo;group&rdquo; (as defined under Section 13(d) of the Exchange Act)
beneficially owning 15% or more of the total outstanding voting securities of Pegasus, or any acquisition, consolidation, business
combination or similar transaction involving Pegasus pursuant to which the shareholders of Pegasus immediately preceding such transaction
hold less than 85% of the equity interests in the surviving or resulting entity of such transaction; (iii) any sale, lease (other
than in the ordinary course of business), exchange, transfer, license (other than in the ordinary course of business), acquisition
or disposition of more than 15% of the assets of Pegasus; or (iv) any liquidation or dissolution of Pegasus; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;sell,
assign, transfer or otherwise dispose of any of the Shares, or cause or permit any of the Shares to be sold, assigned, transferred
or otherwise disposed of, whether such shares of Pegasus Common Stock are owned of record or beneficially by the undersigned on
the date hereof or are subsequently acquired, except (i) for transfers by will or by operation of law (in which case this Voting
Agreement shall bind the transferee), (ii)&nbsp;for gifts by the undersigned, subject to the donee expressly assuming the obligations
of the undersigned arising under this Voting Agreement; (iii) for sales, assignments, transfers or other dispositions necessitated
by hardship with the prior written consent of BancFirst and subject to the transferee expressly assuming the obligations of the
undersigned arising under this Voting Agreement; or (iv) as BancFirst may otherwise agree in writing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">As used herein, the term
&ldquo;Control&rdquo; means (A) the ability to direct the voting of 10% or more of the outstanding voting securities of a person
having ordinary voting power in the election of directors or in the election of any other body having similar functions, or (B)
the ability to direct the management and policies of a person, whether through ownership of securities, through any contract, arrangement
or understanding or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
undersigned represents that (a) he or she has the complete and unrestricted power and the unqualified right to enter into and perform
the terms of this Voting Agreement and that this Voting Agreement does not conflict with the terms of any other agreement, understanding
or document to which he or she is a party; (b) this Voting Agreement constitutes a valid and binding agreement with respect to
the undersigned, enforceable against the undersigned in accordance with its terms; and (c) he or she has either sole and unrestricted
voting power with respect to the Shares or such voting power is shared with another person entering into an agreement substantially
identical to this Voting Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Exhibit
B</U> to the<BR>
Share Exchange Agreement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>&nbsp;</B></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;It
is the desire and intent of the parties hereto that the provisions of this Voting Agreement be enforced to the fullest extent permissible
under the laws and public policies applied in each jurisdiction in which enforcement is sought. Accordingly, if any particular
provision of this Voting Agreement shall be adjudicated by a court of competent jurisdiction to be invalid, prohibited or unenforceable
for any reason, such provision, as to such jurisdiction, shall be ineffective, without invalidating the remaining provisions of
this Voting Agreement or affecting the validity or enforceability of such provision in any other jurisdiction. Notwithstanding
the foregoing, if such provision could be more narrowly drawn so as not to be invalid, prohibited or unenforceable in such jurisdiction,
it shall, as to such jurisdiction, be so narrowly drawn, without invalidating the remaining provisions of this Voting Agreement
or affecting the validity or enforceability of such provision in any other jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
parties hereto agree that irreparable damage would occur in the event that any of the provisions of this Voting Agreement were
not performed by the undersigned in accordance with their specific terms or were otherwise breached. It is accordingly agreed that
BancFirst shall be entitled to seek such an injunction or injunctions to prevent breaches of this Voting Agreement by the undersigned
and to enforce specifically the terms and provisions hereof in any court of the United States or any state having competent jurisdiction,
this being in addition to any other remedy to which BancFirst is entitled at law or in equity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Voting Agreement may be executed in any number of counterparts, and each such counterpart shall be deemed to be an original instrument,
but all such counterparts together shall constitute but one agreement. A facsimile or other electronic transmission of a signed
counterpart of this Voting Agreement shall be sufficient to bind the party or parties whose signature(s) appear thereon.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Voting Agreement shall be governed by and construed in accordance with the laws of the State of Texas applicable to agreements
made and entirely to be performed within such jurisdiction except to the extent federal law may be applicable. If any provision
hereof is deemed unenforceable by a court of law, the enforceability of the other provisions hereof shall not be affected.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;It
is a condition to the effectiveness of this Voting Agreement that the <FONT STYLE="text-underline-style: double">Share Exchange
Agreement</FONT> shall have been executed and delivered by the parties thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Very truly yours,</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Name</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify">Accepted and Agreed:</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify">BANCFIRST CORPORATION</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 47%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 47%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">By:&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">David E. Rainbolt, Executive Chairman</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Exhibit
B</U> to the<BR>
Share Exchange Agreement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: left">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Schedule 1 &ndash; Shares Held by
Shareholder</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Name of Shareholder</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Number of Shares Held</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 57%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 40%; text-align: right">&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: justify; padding-left: 0in">Total:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Exhibit
B</U> to the<BR>
Share Exchange Agreement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0.5in"><B><U>EXHIBIT C</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B><U>ALLOWANCE METHODOLOGY</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="width: 100%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Loan Loss Reserve Adequacy (Qtrly)</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>02/06/19</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>with
    specific reserves for 7.8.9</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="font-weight: bold; text-align: center">Required Reserve</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="font-weight: bold; text-align: center">based on:</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Rating</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Current Balance</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Avg. Loss<BR>
Percent</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Current Balance</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 28%; text-align: left">Ungraded</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 15%; text-align: right">2,850,854</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 15%; text-align: right">0.883</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 15%; text-align: right">25,173</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 15%; text-align: right"></TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center">1</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3,098,683</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.011</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">341</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center">2</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">17,890,921</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.070</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">12,524</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center">3</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">74,578,841</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.169</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">126,038</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center">4</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">131,286,337</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.416</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">546,151</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center">5</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">99,572,250</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.883</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">879,223</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center">6</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">36,705,418</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.525</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">559,758</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center">7</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.473</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center">8</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.125</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center">9</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13.104</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center">10</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">50.000</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Specific ***</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,466,077</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">727,006</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Totals</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">369,449,381</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,876,214</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">ACTUAL RESERVE</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,097,525</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD COLSPAN="5" STYLE="padding-bottom: 2.5pt; text-align: left; padding-left: 0.75in">Excess
/ (Deficit) </TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">221,311</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">*** Specific reserve amount listed below under
&quot;Specific&quot; category.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Ungraded loans were assigned the same loss
percentages as Grade 5's.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Ungraded loan category includes overdrawn
accounts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">3/31/2018</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">6/30/2018</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">9/30/2018</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">12/31/2018</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 48%; text-align: left">Excess/(Deficit)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">805,232</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">787,892</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">677,872</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">704,152</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Actual Reserve</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,913,808</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,013,785</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,089,412</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,097,525</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Exhibit
C</U> to the<BR>
Share Exchange Agreement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>


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