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Segment Information
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment Information

(23) SEGMENT INFORMATION

The Company, along with its chief operating decision maker (CODM), which is BancFirst Corporation's Chief Executive Officer, evaluates its performance with an internal profitability measurement system that measures the profitability of its business units on a pre-tax basis. The financial information for each business unit is presented on the basis used internally by management and the CODM 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. Capital expenditures are generally charged to the business unit using the asset.

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)

 

December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest income

 

$

211,451

 

 

$

414,594

 

 

$

80,540

 

 

$

32,237

 

 

$

9,780

 

 

$

(19,386

)

 

$

(5,077

)

 

$

724,139

 

Interest expense

 

 

94,400

 

 

 

164,974

 

 

 

32,473

 

 

 

13,466

 

 

 

4,845

 

 

 

(27,790

)

 

 

(5,103

)

 

 

277,265

 

Provision for/(benefit
   from) credit losses

 

 

(620

)

 

 

4,300

 

 

 

3,690

 

 

 

286

 

 

 

344

 

 

 

1,004

 

 

 

—

 

 

 

9,004

 

Noninterest income

 

 

22,278

 

 

 

68,349

 

 

 

1,481

 

 

 

961

 

 

 

59,804

 

 

 

253,333

 

 

 

(221,631

)

 

 

184,575

 

Depreciation and
   amortization

 

 

1,701

 

 

 

10,324

 

 

 

631

 

 

 

646

 

 

 

490

 

 

 

7,889

 

 

 

—

 

 

 

21,681

 

Other noninterest expense

 

 

44,692

 

 

 

135,215

 

 

 

21,676

 

 

 

14,561

 

 

 

41,396

 

 

 

68,992

 

 

 

(1,049

)

 

 

325,483

 

Income before taxes

 

$

93,556

 

 

$

168,130

 

 

$

23,551

 

 

$

4,239

 

 

$

22,509

 

 

$

183,852

 

 

$

(220,556

)

 

$

275,281

 

Loans held for investment

 

$

2,436,878

 

 

$

4,069,972

 

 

$

886,760

 

 

$

453,584

 

 

$

94,432

 

 

$

83,484

 

 

$

—

 

 

$

8,025,110

 

Total assets

 

$

3,540,092

 

 

$

7,810,502

 

 

$

1,417,873

 

 

$

644,928

 

 

$

135,783

 

 

$

1,682,433

 

 

$

(1,677,297

)

 

$

13,554,314

 

Total deposits

 

$

2,841,106

 

 

$

7,197,541

 

 

$

1,203,172

 

 

$

558,641

 

 

$

(14,547

)

 

$

62,074

 

 

$

(129,441

)

 

$

11,718,546

 

Capital expenditures

 

$

5,353

 

 

$

11,852

 

 

$

397

 

 

$

4,889

 

 

$

4,355

 

 

$

9,806

 

 

$

—

 

 

$

36,652

 

December 31, 2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest income

 

$

196,270

 

 

$

342,528

 

 

$

74,932

 

 

$

25,374

 

 

$

8,954

 

 

$

(21,198

)

 

$

(2,924

)

 

$

623,936

 

Interest expense

 

 

76,044

 

 

 

113,332

 

 

 

23,655

 

 

 

7,979

 

 

 

4,790

 

 

 

(23,396

)

 

 

(2,924

)

 

 

199,480

 

Provision for/(benefit
   from) credit losses

 

 

4,836

 

 

 

2,331

 

 

 

(328

)

 

 

564

 

 

 

79

 

 

 

(24

)

 

 

—

 

 

 

7,458

 

Noninterest income

 

 

24,793

 

 

 

70,824

 

 

 

1,646

 

 

 

1,170

 

 

 

52,711

 

 

 

250,968

 

 

 

(216,704

)

 

 

185,408

 

Depreciation and
   amortization

 

 

2,347

 

 

 

10,514

 

 

 

804

 

 

 

496

 

 

 

481

 

 

 

7,547

 

 

 

—

 

 

 

22,189

 

Other noninterest expense

 

 

46,329

 

 

 

123,554

 

 

 

20,084

 

 

 

13,636

 

 

 

37,495

 

 

 

70,293

 

 

 

(1,122

)

 

 

310,269

 

Income before taxes

 

$

91,507

 

 

$

163,621

 

 

$

32,363

 

 

$

3,869

 

 

$

18,820

 

 

$

175,350

 

 

$

(215,582

)

 

$

269,948

 

Loans held for investment

 

$

2,495,337

 

 

$

3,756,022

 

 

$

803,290

 

 

$

418,719

 

 

$

103,441

 

 

$

99,836

 

 

$

(20,000

)

 

$

7,656,645

 

Total assets

 

$

3,598,888

 

 

$

7,012,905

 

 

$

1,280,618

 

 

$

600,364

 

 

$

121,601

 

 

$

1,307,714

 

 

$

(1,550,048

)

 

$

12,372,042

 

Total deposits

 

$

2,741,628

 

 

$

6,435,161

 

 

$

1,084,077

 

 

$

499,462

 

 

$

(26,781

)

 

$

66,526

 

 

$

(99,951

)

 

$

10,700,122

 

Capital expenditures

 

$

2,752

 

 

$

5,156

 

 

$

528

 

 

$

5,497

 

 

$

108

 

 

$

8,463

 

 

$

—

 

 

$

22,504

 

December 31, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest income

 

$

113,223

 

 

$

233,310

 

 

$

51,228

 

 

$

15,880

 

 

$

8,931

 

 

$

(2,606

)

 

$

(146

)

 

$

419,820

 

Interest expense

 

 

15,495

 

 

 

24,582

 

 

 

4,789

 

 

 

961

 

 

 

866

 

 

 

(380

)

 

 

(166

)

 

 

46,147

 

Provision for/(benefit
   from) credit losses

 

 

2,186

 

 

 

2,451

 

 

 

2,840

 

 

 

(43

)

 

 

(161

)

 

 

2,803

 

 

 

—

 

 

 

10,076

 

Noninterest income

 

 

32,756

 

 

 

72,385

 

 

 

1,026

 

 

 

1,034

 

 

 

50,643

 

 

 

223,844

 

 

 

(197,941

)

 

 

183,747

 

Depreciation and
   amortization

 

 

2,821

 

 

 

10,453

 

 

 

789

 

 

 

398

 

 

 

519

 

 

 

7,068

 

 

 

—

 

 

 

22,048

 

Other noninterest expense

 

 

42,583

 

 

 

117,248

 

 

 

19,013

 

 

 

9,280

 

 

 

36,271

 

 

 

64,325

 

 

 

(856

)

 

 

287,864

 

Income before taxes

 

$

82,894

 

 

$

150,961

 

 

$

24,823

 

 

$

6,318

 

 

$

22,079

 

 

$

147,422

 

 

$

(197,065

)

 

$

237,432

 

Loans held for investment

 

$

2,003,806

 

 

$

3,526,397

 

 

$

888,693

 

 

$

334,917

 

 

$

97,444

 

 

$

92,306

 

 

$

—

 

 

$

6,943,563

 

Total assets

 

$

3,412,369

 

 

$

6,886,066

 

 

$

1,404,033

 

 

$

541,002

 

 

$

171,679

 

 

$

1,473,443

 

 

$

(1,500,729

)

 

$

12,387,863

 

Total deposits

 

$

2,866,437

 

 

$

6,348,566

 

 

$

1,231,932

 

 

$

465,975

 

 

$

23,606

 

 

$

68,872

 

 

$

(31,160

)

 

$

10,974,228

 

Capital expenditures

 

$

2,026

 

 

$

10,146

 

 

$

311

 

 

$

262

 

 

$

67

 

 

$

6,973

 

 

$

—

 

 

$

19,785