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Stockholders' Equity
 9 Months Ended
Sep. 30, 2025
Equity [Abstract]  
Stockholders' Equity

(8) STOCKHOLDERS’ EQUITY

The Company has adopted a Stock Repurchase Program (the “SRP”). The SRP may be used as a means to increase earnings per share and return on equity. In addition, the SRP may be used to purchase treasury stock for the issuance of stock related to stock-based compensation plans, to provide liquidity for optionees to dispose of stock from exercises of their stock options and to provide liquidity

for stockholders wishing to sell their stock. All shares repurchased under the SRP have been retired and not held as treasury stock. The timing, price and amount of stock repurchases under the SRP is determined by management and approved by the Company’s Executive Committee.

The following table is a summary of the shares under the SRP:

 

 

 

 

 

 

September 30, 2025

 

Shares remaining to be repurchased

 

 

479,784

 

BancFirst Corporation, BancFirst, Pegasus and Worthington are subject to risk-based capital guidelines issued by the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation (“FDIC”). These guidelines are used to evaluate capital adequacy and involve both quantitative and qualitative evaluations of assets, liabilities and certain off-balance-sheet items calculated under regulatory practices. Failure to meet the minimum capital requirements can initiate certain mandatory or discretionary actions by the regulatory agencies that could have a direct material effect on the Company’s consolidated financial statements. The Company believes that as of September 30, 2025, BancFirst Corporation, BancFirst, Pegasus and Worthington each met all capital adequacy requirements to which they are subject. The actual and required capital amounts and ratios are shown in the following table:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

To Be Well

 

 

 

 

 

 

 

Required For Capital

 

With Capital

 

Capitalized Under Prompt

 

 

Actual

 

Adequacy Purposes

 

Conservation Buffer

 

Corrective Action Provisions

 

 

Amount

 

 

Ratio

 

Amount

 

 

Ratio

 

Amount

 

 

Ratio

 

Amount

 

 

Ratio

 

 

(Dollars in thousands)

As of September 30, 2025:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Capital

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(to Risk Weighted Assets)-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

BancFirst Corporation

 

$

1,788,184

 

 

19.93%

 

$

717,643

 

 

8.00%

 

$

941,906

 

 

10.50%

 

N/A

 

 

N/A

BancFirst

 

 

1,344,276

 

 

18.15%

 

 

592,410

 

 

8.00%

 

 

777,538

 

 

10.50%

 

$

740,513

 

 

10.00%

Pegasus

 

 

167,275

 

 

16.58%

 

 

80,723

 

 

8.00%

 

 

105,949

 

 

10.50%

 

 

100,904

 

 

10.00%

Worthington

 

 

61,034

 

 

12.66%

 

 

38,559

 

 

8.00%

 

 

50,608

 

 

10.50%

 

 

48,199

 

 

10.00%

Common Equity Tier 1 Capital

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(to Risk Weighted Assets)-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

BancFirst Corporation

 

$

1,602,788

 

 

17.87%

 

$

403,674

 

 

4.50%

 

$

627,937

 

 

7.00%

 

N/A

 

 

N/A

BancFirst

 

 

1,238,745

 

 

16.73%

 

 

333,231

 

 

4.50%

 

 

518,359

 

 

7.00%

 

$

481,333

 

 

6.50%

Pegasus

 

 

156,926

 

 

15.55%

 

 

45,407

 

 

4.50%

 

 

70,633

 

 

7.00%

 

 

65,588

 

 

6.50%

Worthington

 

 

56,442

 

 

11.71%

 

 

21,689

 

 

4.50%

 

 

33,739

 

 

7.00%

 

 

31,329

 

 

6.50%

Tier 1 Capital

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(to Risk Weighted Assets)-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

BancFirst Corporation

 

$

1,628,788

 

 

18.16%

 

$

538,232

 

 

6.00%

 

$

762,495

 

 

8.50%

 

N/A

 

 

N/A

BancFirst

 

 

1,258,745

 

 

17.00%

 

 

444,308

 

 

6.00%

 

 

629,436

 

 

8.50%

 

$

592,410

 

 

8.00%

Pegasus

 

 

156,926

 

 

15.55%

 

 

60,542

 

 

6.00%

 

 

85,768

 

 

8.50%

 

 

80,723

 

 

8.00%

Worthington

 

 

56,442

 

 

11.71%

 

 

28,919

 

 

6.00%

 

 

40,969

 

 

8.50%

 

 

38,559

 

 

8.00%

Tier 1 Capital

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(to Quarterly Average Assets)-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

BancFirst Corporation

 

$

1,628,788

 

 

11.64%

 

$

559,539

 

 

4.00%

 

N/A

 

 

N/A

 

N/A

 

 

N/A

BancFirst

 

 

1,258,745

 

 

10.62%

 

 

474,081

 

 

4.00%

 

N/A

 

 

N/A

 

$

592,602

 

 

5.00%

Pegasus

 

 

156,926

 

 

10.68%

 

 

58,795

 

 

4.00%

 

N/A

 

 

N/A

 

 

73,493

 

 

5.00%

Worthington

 

 

56,442

 

 

9.41%

 

 

23,990

 

 

4.00%

 

N/A

 

 

N/A

 

 

29,987

 

 

5.00%

As of September 30, 2025, BancFirst, Pegasus and Worthington were classified by the Federal Reserve as “well capitalized” under the prompt corrective action provisions. The Common Equity Tier 1 Capital of BancFirst Corporation, BancFirst, Pegasus and Worthington includes common stock and related paid-in capital and retained earnings. In connection with the adoption of the Basel III Capital Rules, the election was made to opt-out of the requirement to include most components of accumulated other comprehensive income in Common Equity Tier 1 Capital. Common Equity Tier 1 Capital for BancFirst Corporation, BancFirst, Pegasus and Worthington is reduced by goodwill and other intangible assets, net of associated deferred tax liabilities. The Company’s trust preferred

securities qualify as Tier 1 capital and its Subordinated Notes qualify as Tier 2 capital. BancFirst, Pegasus and Worthington have had no events or conditions that management believes would materially change their category under capital requirements existing as of the report dates.