Intangible Assets and Goodwill

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

(7) INTANGIBLE ASSETS AND GOODWILL

The following is a summary of intangible assets:


	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
	(Dollars in thousands)
As of December 31, 2024
Core deposit intangibles	$	33,550	$	(20,454	)	$	13,096
Customer relationship intangibles		3,350		(3,288	)		62
Total	$	36,900	$	(23,742	)	$	13,158
As of December 31, 2023
Core deposit intangibles	$	33,550	$	(17,027	)	$	16,523
Customer relationship intangibles		3,350		(3,169	)		181
Total	$	36,900	$	(20,196	)	$	16,704

Estimated amortization of intangible assets for the next five years, as of December 31, 2024, is as follows (dollars in thousands):


Estimated Amortization
2025	$	3,249
2026		2,645
2027		2,641
2028		1,821
2029		1,437

At December 31, 2024, the weighted-average remaining life of all intangible assets was approximately 5.0 years, which consisted of customer relationship intangibles with a weighted-average life of approximately eight months and core deposit intangibles with a weighted-average life of approximately 5.0 years.

The following is a summary of goodwill by business segment:


	BancFirst Metropolitan Banks		BancFirst Community Banks		Pegasus		Worthington		Other Financial Services		Executive, Operations & Support		Consolidated
	(Dollars in thousands)
Year Ended December 31, 2024
Balance at beginning and end of period	$	13,767	$	61,420	$	68,855	$	32,133	$	5,464	$	624	$	182,263

Year Ended December 31, 2023
Balance at beginning of period	$	13,767	$	61,212	$	68,855	$	32,133	$	5,464	$	624	$	182,055
Acquisitions		—		208		—		—		—		—		208
Balance at end of period	$	13,767	$	61,420	$	68,855	$	32,133	$	5,464	$	624	$	182,263

The Company purchased a branch from RCB Bank on July 20, 2023, which added goodwill. See Note (2) of the Notes to Consolidated Financial Statements for disclosure regarding the Company’s recent developments, including mergers and acquisitions.