Exhibit 99.1

BANCFIRST CORPORATION REPORTS THIRD QUARTER EARNINGS

OKLAHOMA CITY, October 21, 2021 /PRNewswire/ -- BancFirst Corporation (NASDAQ GS:BANF) reported net income of $38.8 million, or $1.16 diluted earnings per share, for the third quarter of 2021 compared to net income of $20.9 million, or $0.63 diluted earnings per share, for the third quarter of 2020. The Company recorded a provision for credit losses of $1.5 million for the three months ended September 30, 2021 compared to a provision for credit losses of $18.7 million for the three months ended September 30, 2020. Net income for the nine months ended September 30, 2021 was $129.5 million, or $3.88 diluted earnings per share, compared to $64.2 million, or $1.94 diluted earnings per share, for the nine months ended September 30, 2020. The Company recorded a net benefit from reversal of provisions for credit losses of $8.5 million for the nine months ended September 30, 2021 compared to a provision for credit losses of $57.7 million for the nine months ended September 30, 2020.

BancFirst Corporation Executive Chairman David Rainbolt commented, “Recently, COVID cases have begun to decline in Oklahoma, but continue to impact some businesses. As a result, our revised quarterly economic scenario supports a stable reserve. Consequently, the provision was very slight this quarter. We would anticipate the economic effects of the pandemic to wane more rapidly over the next quarter which would imply a lower reserve going forward.”

The Company’s net interest income for the third quarter of 2021 increased to $80.2 million compared to $75.9 million for the third quarter of 2020, as a result of an increase of $6.1 million in fee income from Paycheck Protection Program (PPP) loan forgiveness. The net interest margin for the quarter was 3.09% compared to 3.40% a year ago. Noninterest income for the quarter totaled $39.8 million, compared to $34.6 million last year. The increase in noninterest income was attributable to $2.9 million in rental income from other real estate property, a $2.1 million increase in income from debit card interchange fees and a $1.5 million increase in insurance commissions. Noninterest expense for the quarter increased to $70.2 million compared to $66.1 million last year, because of the increase in approximately $2.0 million related to other real estate property operating costs and $1.0 million in net occupancy and depreciation primarily from the Company’s new corporate headquarters. The Company’s effective tax rate was 19.7% compared to 18.4% for the third quarter of 2020.

At September 30, 2021, the Company’s total assets were $11.3 billion, an increase of $2.1 billion from December 31, 2020. Loans totaled $6.0 billion, a decrease of $410.3 million from December 31, 2020 stemming from a net decrease of approximately $451.5 million in PPP loans and approximately $21 million of loans that were sold with the Company’s Hugo, Oklahoma branch, which were partially offset by approximately $149 million of acquired loans from the First National Bank and Trust Company of Vinita, Oklahoma. Deposits totaled $10.0 billion, an increase of $1.9 billion from December 31, 2020. The increase in assets and deposits was predominantly related to PPP and other government stimulus payments. At September 30, 2021, the balance of PPP loans was $201.2 million. The Company’s total stockholders’ equity was $1.1 billion, an increase of $79.0 million over December 31, 2020. Off-balance sheet sweep accounts totaled $2.7 billion at September 30, 2021 compared to $2.8 billion at December 31, 2020.

Nonaccrual loans represent 0.44% of total loans at September 30, 2021, down from 0.58% at year-end 2020. Net charge-offs for the quarter were 0.01% of average loans, compared to 0.03% in the third quarter of 2020. The allowance for credit losses to total loans was 1.43% at September 30, 2021 compared to 1.42% at year-end 2020, and the allowance for credit losses to nonaccrual loans was 324.96% compared to 243.35% at year-end 2020. At September 30, 2021, the Company’s nonaccrual loans decreased $10.9 million from year-end 2020, as a result of the resolution of several loans, which was offset by $7.2 million of nonaccrual loans acquired from The First National Bank and Trust Company of Vinita, Oklahoma. At September 30, 2021, the Company’s other real estate owned (OREO) increased $6.8 million from December 31, 2020, and included approximately $4.0 million from the repossession of one commercial real estate property, $2.4 million from the decommissioning of the Company’s previous headquarters, and approximately $600,000 acquired from The First National Bank and Trust Company of Vinita, Oklahoma.

BancFirst Corporation CEO David Harlow commented, “Fees related to ongoing PPP loan forgiveness and a year-to-date negative provision have allowed for outsized EPS through the first nine months of the year. For the remainder of this year and into 2022, our challenge will be to grow loans and stabilize our margin while continuing to build upon and expand our non-interest and fee based revenues.”

BancFirst Corporation (the Company) is an Oklahoma based financial services holding company. The Company operates two subsidiary banks, BancFirst, an Oklahoma state-chartered bank with 108 banking locations serving 59 communities across Oklahoma, and Pegasus Bank, with 3 banking locations in Dallas, TX. More information can be found at www.bancfirst.bank.

The Company may make forward-looking statements within the meaning of Section 27A of the securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 with respect to earnings, credit quality, corporate objectives, interest rates and other financial and business matters. Forward-looking statements include estimates and give management’s current expectations or forecasts of future events. The Company cautions readers that these forward-looking statements are subject to numerous assumptions, risks and uncertainties, including economic

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conditions, the performance of financial markets and interest rates; legislative and regulatory actions and reforms; competition; as well as other factors, all of which change over time. Actual results may differ materially from forward-looking statements.

For additional information call:

Kevin Lawrence, Chief Financial Officer at (405) 270-1003 or

David Harlow, Chief Executive Officer at (405) 270-1082.

BancFirst Corporation

Summary Financial Information

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

		2021				2021				2021				2020				2020
		3rd Qtr				2nd Qtr				1st Qtr				4th Qtr				3rd Qtr
Condensed Income Statements:
Net interest income		$	80,190			$	82,363			$	77,206			$	79,535			$	75,852
Provision for (benefit from) credit losses			1,483				(9,949	)			—				4,992				18,740
Non-interest income:
Trust revenue			3,210				3,264				3,102				2,976				3,131
Service charges on deposits			21,706				20,524				19,100				19,796				19,078
Securities transactions			150				172				95				156				—
Income from sales of loans			1,594				2,133				2,010				1,852				1,873
Insurance commissions			6,666				5,015				5,989				5,680				5,197
Cash management			3,127				3,068				3,003				3,135				3,701
Other			3,333				10,442				6,636				1,825				1,595
Total noninterest income			39,786				44,618				39,935				35,420				34,575
Non-interest expense:
Salaries and employee benefits			42,267				41,992				39,577				40,750				41,995
Occupancy expense, net			5,086				4,528				4,348				4,533				4,503
Depreciation			4,207				4,133				3,877				3,779				3,795
Amortization of intangible assets			755				809				793				915				968
Data processing services			1,734				1,660				1,678				1,763				1,669
Net expense from other real estate owned			1,810				3,357				1,510				420				196
Marketing and business promotion			1,796				1,648				1,879				1,671				1,485
Deposit insurance			846				766				876				857				723
Other			11,713				15,130				10,425				10,923				10,749
Total noninterest expense			70,214				74,023				64,963				65,611				66,083
Income before income taxes			48,279				62,907				52,178				44,352				25,604
Income tax expense			9,529				14,715				9,658				8,994				4,714
Net income		$	38,750			$	48,192			$	42,520			$	35,358			$	20,890
Per Common Share Data:
Net income-basic		$	1.18			$	1.47			$	1.30			$	1.08			$	0.64
Net income-diluted			1.16				1.45				1.27				1.06				0.63
Cash dividends declared			0.36				0.34				0.34				0.34				0.34
Common shares outstanding			32,572,217				32,784,513				32,771,013				32,719,852				32,679,191
Average common shares outstanding -
Basic			32,744,104				32,779,227				32,756,852				32,690,296				32,668,789
Diluted			33,267,955				33,405,923				33,408,116				33,275,550				33,168,938
Performance Ratios:
Return on average assets			1.37	%			1.79	%			1.69	%			1.45	%			0.86	%
Return on average stockholders’ equity			13.42				17.42				15.90				13.25				7.89
Net interest margin			3.09				3.32				3.36				3.55				3.40
Efficiency ratio			58.52				58.29				55.46				57.08				59.84

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BancFirst Corporation
Summary Financial Information
(Dollars in thousands, except per share and share data - Unaudited)
		Nine months ended
		September 30,
		2021				2020
Condensed Income Statements:
Net interest income		$	239,759			$	227,133
(Benefit from) provision for credit losses			(8,466	)			57,656
Non-interest income:
Trust revenue			9,576				10,154
Service charges on deposits			61,330				54,642
Securities transactions			417				(545	)
Income from sales of loans			5,737				4,215
Insurance commissions			17,670				15,316
Cash management			9,198				12,276
Other			20,411				5,744
Total noninterest income			124,339				101,802
Non-interest expense:
Salaries and employee benefits			123,836				123,977
Occupancy expense, net			13,962				11,888
Depreciation			12,217				10,830
Amortization of intangible assets			2,357				2,900
Data processing services			5,072				4,990
Net income (expense) from other real estate owned			6,677				(1,951	)
Marketing and business promotion			5,323				5,325
Deposit insurance			2,488				1,224
Other			37,268				32,936
Total noninterest expense			209,200				192,119
Income before income taxes			163,364				79,160
Income tax expense			33,902				14,932
Net income		$	129,462			$	64,228
Per Common Share Data:
Net income-basic		$	3.95			$	1.97
Net income-diluted			3.88				1.94
Cash dividends declared			1.04				0.98
Common shares outstanding			32,572,217				32,679,191
Average common shares outstanding -
Basic			32,760,015				32,666,554
Diluted			33,358,837				33,190,294
Performance Ratios:
Return on average assets			1.61	%			0.93	%
Return on average stockholders’ equity			15.54				8.24
Net interest margin			3.25				3.58
Efficiency ratio			57.46				58.41

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	BancFirst Corporation
	Summary Financial Information
	(Dollars in thousands, except per share and share data - Unaudited)
			2021				2021				2021				2020				2020
			3rd Qtr				2nd Qtr				1st Qtr				4th Qtr				3rd Qtr
	Balance Sheet Data:
	Total assets		$	11,302,771			$	11,015,287			$	10,549,305			$	9,212,357			$	9,618,868
	Interest-bearing deposits with banks			3,836,809				3,373,099				2,788,316				1,336,394				1,609,462
	Debt securities			529,484				563,771				520,543				555,196				596,941
	Total loans			6,037,886				6,207,262				6,380,108				6,448,225				6,660,694
	Allowance for credit losses			(86,463	)			(83,963	)			(90,860	)			(91,366	)			(106,126	)
	Deposits			9,992,044				9,728,389				9,371,940				8,064,704				8,495,891
	Stockholders' equity			1,146,874				1,131,591				1,094,671				1,067,885				1,043,752
	Book value per common share			35.21				34.52				33.40				32.64				31.94
	Tangible book value per common share (non-GAAP)(1)			30.04				29.35				28.27				27.47				26.74
	Balance Sheet Ratios:
	Average loans to deposits			61.56	%			65.36	%			70.84	%			77.02	%			78.55	%
	Average earning assets to total assets			92.13				92.01				91.54				91.82				91.99
	Average stockholders' equity to average assets			10.22				10.25				10.64				10.91				10.90
	Asset Quality Data:
	Past due loans		$	5,186			$	4,386			$	5,282			$	4,802			$	6,412
	Nonaccrual loans (5)			26,607				29,802				35,326				37,545				82,385
	Restructured loans			7,073				7,485				7,801				7,784				2,837
	Total nonperforming and restructured loans			38,866				41,673				48,409				50,131				91,634
	Other real estate owned and repossessed assets			39,060				40,183				30,320				32,480				4,939
	Total nonperforming and restructured assets			77,926				81,856				78,729				82,611				96,573
	Nonaccrual loans to total loans			0.44	%			0.48	%			0.55	%			0.58	%			1.24	%
	Nonaccrual loans to total Non-PPP loans (non-GAAP)(3)			0.46				0.51				0.62				0.65				1.41
	Nonperforming and restructured loans to total loans			0.64				0.67				0.76				0.78				1.38
	Nonperforming and restructured loans to total Non-PPP loans (non-GAAP)(3)			0.67				0.71				0.85				0.86				1.57
	Nonperforming and restructured assets to total assets			0.69				0.74				0.75				0.90				1.00
	Allowance to total loans			1.43				1.35				1.42				1.42				1.59
	Allowance to total Non-PPP loans (non-GAAP)(3)			1.48				1.44				1.60				1.58				1.82
	Allowance to nonaccrual loans			324.96				281.73				257.20				243.35				128.82
	Allowance to nonperforming and restructured loans			222.46				201.48				187.69				182.26				115.81
	Net charge-offs to average loans			0.01				0.06				0.01				0.30				0.03
	Reconciliation of Tangible Book Value Per Common Share (non-GAAP)(2):
	Stockholders' equity		$	1,146,874			$	1,131,591			$	1,094,671			$	1,067,885			$	1,043,752
	Less goodwill			149,922				149,922				149,922				149,922				149,922
	Less intangible assets, net			18,325				19,283				18,206				18,999				19,914
	Tangible stockholders’ equity (non-GAAP)		$	978,627			$	962,386			$	926,543			$	898,964			$	873,916
	Common shares outstanding			32,572,217				32,784,513				32,771,013				32,719,852				32,679,191
	Tangible book value per common share (non-GAAP)		$	30.04			$	29.35			$	28.27			$	27.47			$	26.74
	(1) Refer to the “Reconciliation of Tangible Book Value per Common Share (non-GAAP)” Table.
	(2) Tangible book value per common share is stockholders’ equity less goodwill and intangible assets, net, divided by common shares outstanding. This amount is a non-GAAP financial measure but has been included as it is considered to be a critical metric with which to analyze and evaluate the financial condition and capital strength of the Company. This measure should not be considered a substitute for operating results determined in accordance with GAAP.
	Reconciliation of Non-PPP loan ratios (non-GAAP)(4):
	Total loans		$	6,037,886			$	6,207,262			$	6,380,108			$	6,448,225			$	6,660,694
	Less PPP loans			201,208				368,620				713,714				652,693				831,703
	Total Non-PPP loans (non-GAAP)		$	5,836,678			$	5,838,642			$	5,666,394			$	5,795,532			$	5,828,991
	Nonaccrual loans (5)			26,607				29,802				35,326				37,545				82,385
	Nonaccrual loans to total Non-PPP loans (non-GAAP)			0.46	%			0.51	%			0.62	%			0.65	%			1.41	%
	Total nonperforming and restructured loans			38,866				41,673				48,409				50,131				91,634

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	Nonperforming and restructured loans to total Non-PPP loans (non-GAAP)			0.67	%			0.71	%			0.85	%			0.86	%			1.57	%
	Allowance for credit losses			(86,463	)			(83,963	)			(90,860	)			(91,366	)			(106,126	)
	Allowance to total Non-PPP loans (non-GAAP)			1.48	%			1.44	%			1.60	%			1.58	%			1.82	%
	(3) Refer to the “Reconciliation of Non-PPP loan ratios (non-GAAP)” Table.
	(4) Nonaccrual loans to total Non-PPP loans is nonaccrual loans, divided by total loans less Paycheck Protection Program (PPP) loans. Nonperforming and restructured loans to total Non-PPP loans is nonperforming and restructured loans, divided by total loans less PPP loans. Allowance to total Non-PPP loans is allowance for credit losses, divided by total loans less PPP loans. These amounts are non-GAAP financial measures but have been included as they are considered critical metrics with which to analyze and evaluate the financial condition and capital strength of the Company. These measures should not be considered substitutes for operating results determined in accordance with GAAP.
	(5) Government Agencies guarantee approximately $3.1 million of nonaccrual loans at September 30, 2021.

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BancFirst Corporation

Consolidated Average Balance Sheets

And Interest Margin Analysis

Taxable Equivalent Basis

(Dollars in thousands - Unaudited)

		Three Months Ended												Nine Months Ended
		September 30, 2021												September 30, 2021
						Interest				Average								Interest				Average
		Average				Income/				Yield/				Average				Income/				Yield/
		Balance				Expense				Rate				Balance				Expense				Rate
ASSETS
Earning assets:
Loans		$	6,103,533			$	80,370				5.22		%	$	6,267,176			$	240,733			5.14			%
Debt securities – taxable			536,690				1,484				1.10				531,109				4,779				1.20
Debt securities – tax exempt			6,336			45				2.83					13,530			222					2.20
Interest bearing deposits with banks and FFS			3,682,313				1,441				0.16				3,064,852				2,861				0.12
Total earning assets			10,328,872				83,340				3.20				9,876,667				248,595			3.37
Nonearning assets:
Cash and due from banks			269,153												270,724
Interest receivable and other assets			696,567												688,223
Allowance for credit losses			(83,969	)											(89,116	)
Total nonearning assets			881,751												869,831
Total assets		$	11,210,623											$	10,746,498
LIABILITIES AND STOCKHOLDERS’ EQUITY
Interest bearing liabilities:
Transaction deposits		$	881,043			$	161			0.07			%	$	835,363			$	465			0.07			%
Savings deposits			3,825,687				989				0.10				3,675,121				3,034			0.11
Time deposits			659,490				838				0.50				658,306				2,814			0.57
Short-term borrowings			2,713				—				0.10				2,595			1					0.07
Subordinated debt			85,964				1,031			4.76					46,957				2,100			5.98
Total interest bearing liabilities			5,454,897				3,019				0.22				5,218,342				8,414			0.22
Interest free funds:
Noninterest bearing deposits			4,547,944												4,363,925
Interest payable and other liabilities			61,794												50,469
Stockholders’ equity			1,145,988												1,113,762
Total interest free funds			5,755,726												5,528,156
Total liabilities and stockholders’ equity		$	11,210,623											$	10,746,498
Net interest income						$	80,321											$	240,181
Net interest spread											2.98		%										3.15		%
Effect of interest free funds											0.11		%										0.10		%
Net interest margin											3.09		%									3.25			%

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