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v3.21.1

Loans Held for Investment and Allowance for Credit Losses on Loans (Tables) | 3 Months Ended
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Mar. 31, 2021
Receivables [Abstract] |
Summary of Loans Held for Investment by Portfolio Segment | Loans held for investment are summarized by portfolio segment as follows:
| March 31, 2021 |  |  | December 31, 2020 |
| Amount |  |  | Amount |
| (Dollars in thousands) |
BancFirst |  |  |  |  |  |  |
Real estate: |  |  |  |  |  |  |
Commercial real estate owner occupied | $ | 636,652 |  |  | $ | 641,987 |
Commercial real estate non-owner occupied |  | 959,988 |  |  |  | 971,158 |
Construction and development < 60 months |  | 258,585 |  |  |  | 229,615 |
Construction residential real estate < 60 months |  | 196,096 |  |  |  | 206,195 |
Residential real estate first lien |  | 844,149 |  |  |  | 853,316 |
Residential real estate all other |  | 165,513 |  |  |  | 168,081 |
Farmland |  | 251,875 |  |  |  | 252,958 |
Commercial and agricultural non-real estate |  | 1,101,518 |  |  |  | 1,159,810 |
Consumer non-real estate |  | 348,988 |  |  |  | 355,405 |
Oil and gas |  | 172,300 |  |  |  | 179,355 |
Other loans (2) |  | 878,233 |  |  |  | 822,078 |
Pegasus Bank |  | 544,493 |  |  |  | 554,548 |
Total (1) | $ | 6,358,390 |  |  | $ | 6,394,506 |
(1) Excludes accrued interest receivable of $24.7 million at March 31, 2021 and $26.0 million at December 31, 2020, that is recorded in accrued interest receivable and other assets. |
(2) Includes PPP loans held for investment of $713.7 million, net of unamortized processing fees of $23.3 million at March 31, 2021 and $652.7 million, net of unamortized processing fees of $14.5 million at December 31, 2020. |
Summary of Troubled Debt Restructurings and Other Real Estate Owned and Repossessed Assets | The following is a summary of troubled debt restructurings and other real estate owned and repossessed assets:
|  | March 31, |  |  | December 31, |
|  | 2021 |  |  | 2020 |
|  | (Dollars in thousands) |
Troubled debt restructurings |  | $ | 7,801 |  |  | $ | 7,784 |
Other real estate owned and repossessed assets |  | $ | 30,320 |  |  | $ | 32,480 |
Summary of Amounts Included in Nonaccrual Loans Segregated by Portfolio Segment | The following table is a summary of amounts included in nonaccrual loans, segregated by portfolio segment.
|  | March 31, 2021 |  |  | December 31, 2020 |
|  | (Dollars in thousands) |
BancFirst |  |  |  |  |  |  |  |
Real estate: |  |  |  |  |  |  |  |
Commercial real estate owner occupied |  | $ | 969 |  |  | $ | 1,404 |
Commercial real estate non-owner occupied |  |  | 4,794 |  |  |  | 4,719 |
Construction and development < 60 months |  |  | 91 |  |  |  | 95 |
Construction residential real estate < 60 months |  |  | — |  |  |  | — |
Residential real estate first lien |  |  | 3,163 |  |  |  | 3,615 |
Residential real estate all other |  |  | 1,293 |  |  |  | 1,362 |
Farmland |  |  | 5,848 |  |  |  | 7,901 |
Commercial and agricultural non-real estate |  |  | 12,391 |  |  |  | 12,782 |
Consumer non-real estate |  |  | 212 |  |  |  | 268 |
Oil and gas |  |  | — |  |  |  | — |
Other loans |  |  | 6,565 |  |  |  | 5,399 |
Pegasus Bank |  |  | — |  |  |  | — |
Total |  | $ | 35,326 |  |  | $ | 37,545 |
Age Analysis of Loans Held for Investments | Loans are considered past due if the required principal and interest payments have not been received as of the date such payments were due. The following table presents an age analysis of our loans held for investment:
|  | Age Analysis of Past Due Loans |
|  | 30-59 Days Past Due |  |  | 60-89 Days Past Due |  |  | 90 Days and Greater |  |  | Total Past Due Loans |  |  | Current Loans |  |  | Total Loans |  |  | Accruing Loans 90 Days or More Past Due |
|  | (Dollars in thousands) |
As of March 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
BancFirst |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate owner occupied |  | $ | 601 |  |  | $ | 80 |  |  | $ | 739 |  |  | $ | 1,420 |  |  | $ | 635,232 |  |  | $ | 636,652 |  |  | $ | — |
Commercial real estate non-owner occupied |  |  | 4,757 |  |  |  | — |  |  |  | 108 |  |  |  | 4,865 |  |  |  | 955,123 |  |  |  | 959,988 |  |  |  | 33 |
Construction and development < 60 months |  |  | 419 |  |  |  | 45 |  |  |  | — |  |  |  | 464 |  |  |  | 258,121 |  |  |  | 258,585 |  |  |  | — |
Construction residential real estate < 60 months |  |  | 1,510 |  |  |  | — |  |  |  | — |  |  |  | 1,510 |  |  |  | 194,586 |  |  |  | 196,096 |  |  |  | — |
Residential real estate first lien |  |  | 5,444 |  |  |  | 706 |  |  |  | 2,927 |  |  |  | 9,077 |  |  |  | 835,072 |  |  |  | 844,149 |  |  |  | 1,022 |
Residential real estate all other |  |  | 1,588 |  |  |  | 30 |  |  |  | 1,338 |  |  |  | 2,956 |  |  |  | 162,557 |  |  |  | 165,513 |  |  |  | 173 |
Farmland |  |  | 614 |  |  |  | 140 |  |  |  | 4,242 |  |  |  | 4,996 |  |  |  | 246,879 |  |  |  | 251,875 |  |  |  | 14 |
Commercial and agricultural non-real estate |  |  | 1,164 |  |  |  | 374 |  |  |  | 5,019 |  |  |  | 6,557 |  |  |  | 1,094,961 |  |  |  | 1,101,518 |  |  |  | 1,326 |
Consumer non-real estate |  |  | 1,589 |  |  |  | 330 |  |  |  | 430 |  |  |  | 2,349 |  |  |  | 346,639 |  |  |  | 348,988 |  |  |  | 365 |
Oil and gas |  |  | 61 |  |  |  | — |  |  |  | — |  |  |  | 61 |  |  |  | 172,239 |  |  |  | 172,300 |  |  |  | — |
Other loans |  |  | 221 |  |  |  | 428 |  |  |  | 3,897 |  |  |  | 4,546 |  |  |  | 873,687 |  |  |  | 878,233 |  |  |  | 2,349 |
Pegasus Bank |  |  | — |  |  |  | 1,747 |  |  |  | — |  |  |  | 1,747 |  |  |  | 542,746 |  |  |  | 544,493 |  |  |  | — |
Total |  | $ | 17,968 |  |  | $ | 3,880 |  |  | $ | 18,700 |  |  | $ | 40,548 |  |  | $ | 6,317,842 |  |  | $ | 6,358,390 |  |  | $ | 5,282 |
As of December 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
BancFirst |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate owner occupied |  | $ | 1,096 |  |  | $ | 108 |  |  | $ | 1,164 |  |  | $ | 2,368 |  |  | $ | 639,619 |  |  | $ | 641,987 |  |  | $ | — |
Commercial real estate non-owner occupied |  |  | 323 |  |  |  | — |  |  |  | 34 |  |  |  | 357 |  |  |  | 970,801 |  |  |  | 971,158 |  |  |  | 35 |
Construction and development < 60 months |  |  | 511 |  |  |  | 86 |  |  |  | — |  |  |  | 597 |  |  |  | 229,018 |  |  |  | 229,615 |  |  |  | — |
Construction residential real estate < 60 months |  |  | 1,106 |  |  |  | — |  |  |  | 282 |  |  |  | 1,388 |  |  |  | 204,807 |  |  |  | 206,195 |  |  |  | 282 |
Residential real estate first lien |  |  | 5,428 |  |  |  | 1,463 |  |  |  | 2,978 |  |  |  | 9,869 |  |  |  | 843,447 |  |  |  | 853,316 |  |  |  | 945 |
Residential real estate all other |  |  | 520 |  |  |  | 55 |  |  |  | 1,606 |  |  |  | 2,181 |  |  |  | 165,900 |  |  |  | 168,081 |  |  |  | 384 |
Farmland |  |  | 1,297 |  |  |  | 344 |  |  |  | 6,223 |  |  |  | 7,864 |  |  |  | 245,094 |  |  |  | 252,958 |  |  |  | 135 |
Commercial and agricultural non-real estate |  |  | 2,788 |  |  |  | 1,794 |  |  |  | 4,345 |  |  |  | 8,927 |  |  |  | 1,150,883 |  |  |  | 1,159,810 |  |  |  | 465 |
Consumer non-real estate |  |  | 2,154 |  |  |  | 501 |  |  |  | 534 |  |  |  | 3,189 |  |  |  | 352,216 |  |  |  | 355,405 |  |  |  | 386 |
Oil and gas |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 179,355 |  |  |  | 179,355 |  |  |  | — |
Other loans |  |  | 951 |  |  |  | 1,223 |  |  |  | 6,618 |  |  |  | 8,792 |  |  |  | 813,286 |  |  |  | 822,078 |  |  |  | 2,170 |
Pegasus Bank |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 554,548 |  |  |  | 554,548 |  |  |  | — |
Total |  | $ | 16,174 |  |  | $ | 5,574 |  |  | $ | 23,784 |  |  | $ | 45,532 |  |  | $ | 6,348,974 |  |  | $ | 6,394,506 |  |  | $ | 4,802 |
Gross Loans Held for Investment by Year of Origination and Internally Assigned Credit Grades | The following table summarizes our gross loans held for investment by year of origination and internally assigned credit grades as of March 31, 2021:
|  | Term Loans Amortized Cost Basis by Origination Year |  |  |  |
|  | 2021 |  | 2020 |  | 2019 |  | 2018 |  | 2017 |  | Prior |  | Revolving Loans Amortized Cost Basis |  | Total
|  | (Dollars in thousands)
As of March 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
BancFirst |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate owner occupied |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Grade 1 |  | $23,563 |  | $146,668 |  | $86,383 |  | $63,000 |  | $37,685 |  | $117,044 |  | $16,271 |  | $490,614
Grade 2 |  | 4,208 |  | 40,127 |  | 30,459 |  | 10,616 |  | 9,613 |  | 37,459 |  | 4,201 |  | 136,683
Grade 3 |  | 9 |  | 3,825 |  | 30 |  | 466 |  | 483 |  | 3,573 |  | — |  | 8,386
Grade 4 |  | — |  | 34 |  | 63 |  | 317 |  | — |  | 248 |  | 307 |  | 969
Total commercial real estate owner occupied loans |  | 27,780 |  | 190,654 |  | 116,935 |  | 74,399 |  | 47,781 |  | 158,324 |  | 20,779 |  | 636,652
Commercial real estate non-owner occupied |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Grade 1 |  | 50,243 |  | 236,739 |  | 154,498 |  | 73,368 |  | 64,959 |  | 143,281 |  | 11,514 |  | 734,602
Grade 2 |  | 7,968 |  | 58,067 |  | 45,308 |  | 26,102 |  | 17,806 |  | 47,430 |  | 4,929 |  | 207,610
Grade 3 |  | 6,738 |  | 785 |  | 3,063 |  | 519 |  | 1,609 |  | 81 |  | — |  | 12,795
Grade 4 |  | — |  | 4,719 |  | 86 |  | — |  | — |  | 176 |  | — |  | 4,981
Total commercial real estate non-owner occupied loans |  | 64,949 |  | 300,310 |  | 202,955 |  | 99,989 |  | 84,374 |  | 190,968 |  | 16,443 |  | 959,988
Construction and development < 60 months |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Grade 1 |  | 45,528 |  | 92,005 |  | 60,758 |  | 11,413 |  | 3,686 |  | 3,077 |  | 7,971 |  | 224,438
Grade 2 |  | 4,073 |  | 11,256 |  | 11,272 |  | 1,116 |  | 746 |  | 758 |  | 803 |  | 30,024
Grade 3 |  | 2,053 |  | 1,795 |  | 131 |  | 8 |  | 45 |  | — |  | — |  | 4,032
Grade 4 |  | — |  | — |  | 62 |  | 8 |  | 21 |  | — |  | — |  | 91
Total construction and development < 60 months |  | 51,654 |  | 105,056 |  | 72,223 |  | 12,545 |  | 4,498 |  | 3,835 |  | 8,774 |  | 258,585
Construction residential real estate < 60 months |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Grade 1 |  | 44,635 |  | 107,546 |  | 155 |  | 69 |  | 20 |  | 36 |  | 10,678 |  | 163,139
Grade 2 |  | 7,530 |  | 23,822 |  | — |  | 110 |  | — |  | 462 |  | 200 |  | 32,124
Grade 3 |  | 286 |  | 547 |  | — |  | — |  | — |  | — |  | — |  | 833
Total construction residential real estate < 60 months |  | 52,451 |  | 131,915 |  | 155 |  | 179 |  | 20 |  | 498 |  | 10,878 |  | 196,096
Residential real estate first lien |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Grade 1 |  | 68,977 |  | 214,495 |  | 122,472 |  | 74,112 |  | 58,362 |  | 166,467 |  | — |  | 704,885
Grade 2 |  | 5,180 |  | 26,051 |  | 15,445 |  | 19,158 |  | 11,149 |  | 42,497 |  | — |  | 119,480
Grade 3 |  | 687 |  | 2,590 |  | 2,548 |  | 2,128 |  | 1,721 |  | 5,593 |  | — |  | 15,267
Grade 4 |  | 49 |  | 412 |  | 659 |  | 498 |  | 200 |  | 2,699 |  | — |  | 4,517
Total residential real estate first lien |  | 74,893 |  | 243,548 |  | 141,124 |  | 95,896 |  | 71,432 |  | 217,256 |  | — |  | 844,149
Residential real estate all other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Grade 1 |  | 3,747 |  | 19,180 |  | 12,583 |  | 9,427 |  | 5,641 |  | 16,013 |  | 29,371 |  | 95,962
Grade 2 |  | 605 |  | 3,502 |  | 1,833 |  | 1,333 |  | 1,623 |  | 2,393 |  | 53,936 |  | 65,225
Grade 3 |  | 105 |  | 146 |  | 466 |  | 288 |  | 87 |  | 351 |  | 1,296 |  | 2,739
Grade 4 |  | — |  | 217 |  | — |  | 558 |  | 95 |  | 695 |  | 22 |  | 1,587
Total residential real estate all other |  | 4,457 |  | 23,045 |  | 14,882 |  | 11,606 |  | 7,446 |  | 19,452 |  | 84,625 |  | 165,513
Farmland |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Grade 1 |  | 12,125 |  | 46,945 |  | 25,602 |  | 16,291 |  | 13,155 |  | 35,907 |  | 9,321 |  | 159,346
Grade 2 |  | 4,126 |  | 11,817 |  | 30,125 |  | 6,254 |  | 5,959 |  | 13,371 |  | 8,506 |  | 80,158
Grade 3 |  | 1,399 |  | 2,217 |  | 287 |  | 74 |  | 842 |  | 1,116 |  | 2,007 |  | 7,942
Grade 4 |  | — |  | 414 |  | 14 |  | 3,188 |  | 296 |  | 239 |  | 278 |  | 4,429
Total farmland |  | 17,650 |  | 61,393 |  | 56,028 |  | 25,807 |  | 20,252 |  | 50,633 |  | 20,112 |  | 251,875
Commercial and agricultural non-real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Grade 1 |  | 117,733 |  | 144,961 |  | 128,177 |  | 92,010 |  | 63,617 |  | 60,998 |  | 230,768 |  | 838,264
Grade 2 |  | 17,356 |  | 61,227 |  | 31,397 |  | 15,072 |  | 4,523 |  | 21,254 |  | 56,833 |  | 207,662
Grade 3 |  | 1,610 |  | 7,452 |  | 1,269 |  | 11,220 |  | 1,915 |  | 572 |  | 20,044 |  | 44,082
Grade 4 |  | — |  | 565 |  | 1,501 |  | 541 |  | 233 |  | 1,240 |  | 7,430 |  | 11,510
Total commercial and agricultural non-real estate |  | 136,699 |  | 214,205 |  | 162,344 |  | 118,843 |  | 70,288 |  | 84,064 |  | 315,075 |  | 1,101,518
Consumer non-real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Grade 1 |  | 47,697 |  | 139,148 |  | 78,071 |  | 33,990 |  | 11,288 |  | 4,788 |  | 6,700 |  | 321,682
Grade 2 |  | 4,182 |  | 11,293 |  | 4,782 |  | 2,869 |  | 775 |  | 608 |  | 288 |  | 24,797
Grade 3 |  | 125 |  | 476 |  | 781 |  | 335 |  | 193 |  | 64 |  | 4 |  | 1,978
Grade 4 |  | 2 |  | 133 |  | 182 |  | 76 |  | 41 |  | 96 |  | 1 |  | 531
Total consumer non-real estate |  | 52,006 |  | 151,050 |  | 83,816 |  | 37,270 |  | 12,297 |  | 5,556 |  | 6,993 |  | 348,988
Oil and gas |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Grade 1 |  | 71,423 |  | 36,838 |  | 62 |  | 74 |  | — |  | 4,071 |  | 14,562 |  | 127,030
Grade 2 |  | 8,431 |  | 8,706 |  | 651 |  | — |  | — |  | — |  | 9,619 |  | 27,407
Grade 3 |  | 17,737 |  | 126 |  | — |  | — |  | — |  | — |  | — |  | 17,863
Total oil and gas |  | 97,591 |  | 45,670 |  | 713 |  | 74 |  | — |  | 4,071 |  | 24,181 |  | 172,300
Other loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Grade 1 |  | 715,454 |  | 34,146 |  | 30,287 |  | 25,272 |  | 18,653 |  | 24,729 |  | 21,773 |  | 870,314
Grade 2 |  | — |  | — |  | 265 |  | 17 |  | 2,676 |  | 2,589 |  | 933 |  | 6,480
Grade 3 |  | — |  | — |  | — |  | 15 |  | 1 |  | 194 |  | 71 |  | 281
Grade 4 |  | — |  | 141 |  | — |  | — |  | 294 |  | 148 |  | 575 |  | 1,158
Total other loans |  | 715,454 |  | 34,287 |  | 30,552 |  | 25,304 |  | 21,624 |  | 27,660 |  | 23,352 |  | 878,233
Pegasus Bank |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Grade 1 |  | 30,903 |  | 93,796 |  | 57,518 |  | 25,501 |  | 17,290 |  | 54,093 |  | 117,769 |  | 396,870
Grade 2 |  | 10,555 |  | 24,966 |  | 22,483 |  | 3,524 |  | 19,199 |  | 8,146 |  | 57,185 |  | 146,058
Grade 3 |  | 121 |  | 117 |  | — |  | — |  | — |  | 1,327 |  | — |  | 1,565
Total Pegasus Bank |  | 41,579 |  | 118,879 |  | 80,001 |  | 29,025 |  | 36,489 |  | 63,566 |  | 174,954 |  | 544,493
Total loans held for investment |  | $1,337,163 |  | $1,620,012 |  | $961,728 |  | $530,937 |  | $376,501 |  | $825,883 |  | $706,166 |  | $6,358,390
Activity in Allowance for Credit Losses on Loans | The following table details activity in the allowance for credit losses on loans for the period presented. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories.
|  | Allowance for Credit Losses |
|  | Balance at beginning of period |  |  | Charge- offs |  |  | Recoveries |  |  | Net charge-offs |  |  | Provision for credit losses on loans |  |  | Balance at end of period |
|  | (Dollars in thousands) |
Three Months Ended March 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
BancFirst |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate owner occupied |  | $ | 7,035 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (440 | ) |  | $ | 6,595 |
Commercial real estate non-owner occupied |  |  | 11,842 |  |  |  | (38 | ) |  |  | — |  |  |  | (38 | ) |  |  | 5,151 |  |  |  | 16,955 |
Construction and development < 60 months |  |  | 2,560 |  |  |  | — |  |  |  | 3 |  |  |  | 3 |  |  |  | 180 |  |  |  | 2,743 |
Construction residential real estate < 60 months |  |  | 627 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 356 |  |  |  | 983 |
Residential real estate first lien |  |  | 2,570 |  |  |  | (43 | ) |  |  | 15 |  |  |  | (28 | ) |  |  | 50 |  |  |  | 2,592 |
Residential real estate all other |  |  | 2,230 |  |  |  | (16 | ) |  |  | 3 |  |  |  | (13 | ) |  |  | (344 | ) |  |  | 1,873 |
Farmland |  |  | 3,136 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (59 | ) |  |  | 3,077 |
Commercial and agricultural non-real estate |  |  | 32,400 |  |  |  | (104 | ) |  |  | 26 |  |  |  | (78 | ) |  |  | 363 |  |  |  | 32,685 |
Consumer non-real estate |  |  | 3,377 |  |  |  | (413 | ) |  |  | 112 |  |  |  | (301 | ) |  |  | 180 |  |  |  | 3,256 |
Oil and gas |  |  | 17,851 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (5,720 | ) |  |  | 12,131 |
Other loans |  |  | 3,182 |  |  |  | (52 | ) |  |  | — |  |  |  | (52 | ) |  |  | 60 |  |  |  | 3,190 |
Pegasus Bank |  |  | 4,556 |  |  |  | — |  |  |  | 1 |  |  |  | 1 |  |  |  | 223 |  |  |  | 4,780 |
Total |  | $ | 91,366 |  |  | $ | (666 | ) |  | $ | 160 |  |  | $ | (506 | ) |  | $ | — |  |  | $ | 90,860 |
|  | Allowance for Credit Losses |
|  | Balance at beginning of period |  |  | Impact of CECL adoption |  |  | Initial allowance on loans purchased with credit deterioration |  |  | Charge- offs |  |  | Recoveries |  |  | Net charge-offs |  |  | Provision for credit losses on loans |  |  | Balance at end of period |
|  | (Dollars in thousands) |
Three Months Ended March 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
BancFirst |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate owner occupied |  | $ | 5,625 |  |  | $ | (2,806 | ) |  | $ | 432 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,293 |  |  | $ | 4,544 |
Commercial real estate non-owner occupied |  |  | 8,358 |  |  |  | (5,507 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 3,084 |  |  |  | 5,935 |
Construction and development < 60 months |  |  | 2,214 |  |  |  | (1,056 | ) |  |  | — |  |  |  | (3 | ) |  |  | — |  |  |  | (3 | ) |  |  | (19 | ) |  |  | 1,136 |
Construction residential real estate < 60 months |  |  | 1,933 |  |  |  | (778 | ) |  |  | — |  |  |  | (1 | ) |  |  | — |  |  |  | (1 | ) |  |  | 464 |  |  |  | 1,618 |
Residential real estate first lien |  |  | 8,692 |  |  |  | (3,831 | ) |  |  | 7 |  |  |  | (152 | ) |  |  | 2 |  |  |  | (150 | ) |  |  | 1,474 |  |  |  | 6,192 |
Residential real estate all other |  |  | 2,767 |  |  |  | (1,408 | ) |  |  | — |  |  |  | (25 | ) |  |  | 27 |  |  |  | 2 |  |  |  | 931 |  |  |  | 2,292 |
Farmland |  |  | 2,821 |  |  |  | (1,408 | ) |  |  | 1 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 374 |  |  |  | 1,788 |
Commercial and agricultural non-real estate |  |  | 13,462 |  |  |  | 13,195 |  |  |  | 62 |  |  |  | (87 | ) |  |  | 17 |  |  |  | (70 | ) |  |  | 7,344 |  |  |  | 33,993 |
Consumer non-real estate |  |  | 3,252 |  |  |  | (622 | ) |  |  | — |  |  |  | (321 | ) |  |  | 57 |  |  |  | (264 | ) |  |  | 1,019 |  |  |  | 3,385 |
Oil and gas |  |  | 1,883 |  |  |  | (1,346 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,746 |  |  |  | 3,283 |
Other loans |  |  | 2,632 |  |  |  | (116 | ) |  |  | — |  |  |  | — |  |  |  | 2 |  |  |  | 2 |  |  |  | 233 |  |  |  | 2,751 |
Pegasus Bank |  |  | 599 |  |  |  | 2,488 |  |  |  | — |  |  |  | (571 | ) |  |  | 7 |  |  |  | (564 | ) |  |  | 640 |  |  |  | 3,163 |
Total |  | $ | 54,238 |  |  | $ | (3,195 | ) |  | $ | 502 |  |  | $ | (1,160 | ) |  | $ | 112 |  |  | $ | (1,048 | ) |  | $ | 19,583 |  |  | $ | 70,080 |
Purchased Credit Deteriorated Loans | The Company has previously purchased loans, for which there was, at acquisition, evidence of more than insignificant deterioration of credit quality since origination. The Company did not purchase credit-deteriorated loans during the three-month period ended March 31, 2021. The credit-deteriorated loans purchased during the three-month period ended March 31, 2020 were as follows:
|  | Loans acquired with deteriorated credit quality |
|  | (Dollars in thousands) |
For the period ended March 31, 2020 |  |  |  |
Purchase price of loans at acquisition |  | $ | 1,761 |
Allowance for credit losses at acquisition |  |  | 502 |
Par value of acquired loans at acquisition |  | $ | 2,263 |
Collateral-Dependent Gross Loans Held for Investment by Collateral Type and Related Specific Allocation | The following table summarizes collateral-dependent gross loans held for investment by collateral type and the related specific allocation as follows:
|  | Collateral Type |  |  |  |  |  |  |  |  |
|  | Real Estate |  |  | Business Assets |  |  | Energy Reserves |  |  | Other Assets |  |  | Total |  |  | Specific Allocation |
|  | (Dollars in thousands) |  |  |  |  |  |  |  |  |
As of March 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
BancFirst |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate owner occupied |  | $ | 423 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 423 |  |  | $ | 176 |
Commercial real estate non-owner occupied |  |  | 4,719 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 4,719 |  |  |  | 1,000 |
Construction and development < 60 months |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Construction residential real estate < 60 months |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Residential real estate first lien |  |  | 805 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 805 |  |  |  | 138 |
Residential real estate all other |  |  | 631 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 631 |  |  |  | 550 |
Farmland |  |  | 3,215 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 3,215 |  |  |  | 1,113 |
Commercial and agricultural non-real estate |  |  | — |  |  |  | 8,310 |  |  |  | — |  |  |  | 1,317 |  |  |  | 9,627 |  |  |  | 4,129 |
Consumer non-real estate |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 50 |  |  |  | 50 |  |  |  | 11 |
Oil and gas |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Other loans |  |  | — |  |  |  | 17 |  |  |  | — |  |  |  | — |  |  |  | 17 |  |  |  | 16 |
Pegasus Bank |  |  | 1,255 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,255 |  |  |  | 222 |
Total collateral-dependent loans held for investment |  | $ | 11,048 |  |  | $ | 8,327 |  |  | $ | — |  |  | $ | 1,367 |  |  | $ | 20,742 |  |  | $ | 7,355 |
|  | Collateral Type |  |  |  |  |  |  |  |  |
|  | Real Estate |  |  | Business Assets |  |  | Energy Reserves |  |  | Other Assets |  |  | Total |  |  | Specific Allocation |
|  | (Dollars in thousands) |  |  |  |  |  |  |  |  |
As of December 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
BancFirst |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate owner occupied |  | $ | 848 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 848 |  |  | $ | 226 |
Commercial real estate non-owner occupied |  |  | 4,719 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 4,719 |  |  |  | 1,000 |
Construction and development < 60 months |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Construction residential real estate < 60 months |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Residential real estate first lien |  |  | 860 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 860 |  |  |  | 151 |
Residential real estate all other |  |  | 866 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 866 |  |  |  | 616 |
Farmland |  |  | 3,258 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 3,258 |  |  |  | 1,114 |
Commercial and agricultural non-real estate |  |  | — |  |  |  | 8,460 |  |  |  | — |  |  |  | 413 |  |  |  | 8,873 |  |  |  | 2,813 |
Consumer non-real estate |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 109 |  |  |  | 109 |  |  |  | 58 |
Oil and gas |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Other loans |  |  | — |  |  |  | 13 |  |  |  | — |  |  |  | — |  |  |  | 13 |  |  |  | 12 |
Pegasus Bank |  |  | 1,257 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,257 |  |  |  | 222 |
Total collateral-dependent loans held for investment |  | $ | 11,808 |  |  | $ | 8,473 |  |  | $ | — |  |  | $ | 522 |  |  | $ | 20,803 |  |  | $ | 6,212 |
Transfers from Loans and Premises and Equipment to Other Real Estate Owned and Repossessed Assets | Transfers from loans and premises and equipment to other real estate owned and repossessed assets during the periods presented are summarized as follows:
|  | Three Months Ended March 31, |
|  | 2021 |  |  | 2020 |
|  | (Dollars in thousands) |
Other real estate owned |  | $ | 357 |  |  | $ | 2,342 |
Repossessed assets |  |  | 220 |  |  |  | 318 |
Total |  | $ | 577 |  |  | $ | 2,660 |

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