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Segment Information
 9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Segment Information

(11) SEGMENT INFORMATION

The Company evaluates its performance with an internal profitability measurement system that measures the profitability of its business units on a pre-tax basis. The six principal business units are BancFirst metropolitan banks, BancFirst community banks, Pegasus, Worthington, other financial services and executive, operations and support. BancFirst metropolitan banks, BancFirst community banks, Pegasus and Worthington offer traditional banking products such as commercial and retail lending and a full line of deposit accounts. BancFirst metropolitan banks consist of banking locations in the metropolitan Oklahoma City and Tulsa areas. BancFirst community banks consist of banking locations in communities in Oklahoma outside the Oklahoma City and Tulsa metropolitan areas. Pegasus consists of banking locations in the Dallas metropolitan area. Worthington consists of banking locations in the Arlington, Fort Worth and Denton Texas. Other financial services are specialty product business units including guaranteed small business lending, residential mortgage lending, trust services, securities brokerage, electronic banking and insurance. The executive, operations and support groups represent executive management, operational support and corporate functions that are not allocated to the other business units.

The results of operations and selected financial information for the six business units are as follows:

 

 

BancFirst Metropolitan
Banks

 

 

BancFirst Community
Banks

 

 

Pegasus

 

 

Worthington

 

 

Other
Financial
Services

 

 

Executive,
Operations
& Support

 

 

Eliminations

 

 

Consolidated

 

 

 

(Dollars in thousands)

 

Three Months Ended September 30, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net interest income

 

$

30,214

 

 

$

63,699

 

 

$

12,849

 

 

$

4,675

 

 

$

1,364

 

 

$

2,156

 

 

$

—

 

 

$

114,957

 

Noninterest income

 

 

5,692

 

 

 

17,787

 

 

 

394

 

 

 

238

 

 

 

16,241

 

 

 

67,087

 

 

 

(58,727

)

 

 

48,712

 

Income before taxes

 

 

23,426

 

 

 

43,494

 

 

 

7,188

 

 

 

1,273

 

 

 

6,787

 

 

 

49,880

 

 

 

(58,144

)

 

 

73,904

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30, 2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net interest income

 

$

30,258

 

 

$

56,644

 

 

$

11,334

 

 

$

4,160

 

 

$

1,063

 

 

$

849

 

 

$

—

 

 

$

104,308

 

Noninterest income

 

 

5,533

 

 

 

15,986

 

 

 

561

 

 

 

301

 

 

 

14,542

 

 

 

59,923

 

 

 

(52,397

)

 

 

44,449

 

Income before taxes

 

 

22,043

 

 

 

38,985

 

 

 

6,559

 

 

 

693

 

 

 

5,541

 

 

 

43,282

 

 

 

(51,873

)

 

 

65,230

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months Ended September 30, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net interest income

 

$

87,546

 

 

$

185,420

 

 

$

35,079

 

 

$

13,526

 

 

$

3,486

 

 

$

5,900

 

 

$

—

 

 

$

330,957

 

Noninterest income

 

 

16,423

 

 

 

50,591

 

 

 

1,053

 

 

 

709

 

 

 

44,917

 

 

 

183,579

 

 

 

(159,716

)

 

 

137,556

 

Income before taxes

 

 

66,966

 

 

 

124,553

 

 

 

16,445

 

 

 

2,686

 

 

 

17,261

 

 

 

134,176

 

 

 

(158,807

)

 

 

203,280

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months Ended September 30, 2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net interest income

 

$

90,266

 

 

$

171,946

 

 

$

39,994

 

 

$

12,907

 

 

$

3,063

 

 

$

1,214

 

 

$

—

 

 

$

319,390

 

Noninterest income

 

 

18,710

 

 

 

55,504

 

 

 

1,242

 

 

 

835

 

 

 

41,064

 

 

 

189,754

 

 

 

(166,858

)

 

 

140,251

 

Income before taxes

 

 

66,941

 

 

 

125,768

 

 

 

26,060

 

 

 

3,114

 

 

 

16,003

 

 

 

137,624

 

 

 

(165,969

)

 

 

209,541

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30, 2024

 

$

3,484,436

 

 

$

7,672,481

 

 

$

1,506,885

 

 

$

627,105

 

 

$

93,819

 

 

$

1,567,000

 

 

$

(1,638,244

)

 

$

13,313,482

 

December 31, 2023

 

 

3,598,888

 

 

 

7,012,905

 

 

 

1,280,618

 

 

 

600,364

 

 

 

121,601

 

 

 

1,307,714

 

 

 

(1,550,048

)

 

 

12,372,042

 

The financial information for each business unit is presented on the basis used internally by management to evaluate performance and allocate resources. The Company utilizes a transfer pricing system to allocate the benefit or cost of funds provided or used by the various business units. Certain services provided by the support group to other business units, such as item processing, are allocated at rates approximating the cost of providing the services. Eliminations are adjustments to consolidate the business units and companies.