#United States #Oklahoma City #earnings report #Net Income #BancFirst

BancFirst Corporation Reports Third Quarter Earnings

BancFirst Corporation (NASDAQ GSBANF) released its financial results for the third quarter of 2025, showcasing a substantial net income of $62.7 million, equivalent to $1.85 per diluted share. This reflects an increase from the previous year's $58.9 million or $1.75 per diluted share for the third quarter of 2024.

The company's net interest income for the quarter reached $125.6 million, up from $115.0 million reported in the same period last year. This rise is attributed primarily to a higher loan volume and overall growth in earning assets. In terms of performance metrics, the net interest margin experienced a slight uptick to 3.79% compared to 3.78% for the third quarter of 2024.

BancFirst acknowledged a provision for credit losses on loans amounting to $4.2 million this quarter, which was an increase from the $3.0 million recorded during Q3 2024. In addition, the company reported noninterest income totaling $49.9 million, compared to $48.7 million from the previous year. The increase in noninterest income can be attributed to heightened trust revenue, treasury income, sweep fees, and securities transactions.

On the expense side, noninterest expenses rose to $92.1 million for the quarter, compared to $86.7 million in Q3 2024. The primary contributors to this increase were higher salaries and employee benefits, with an uptick of $3.5 million, along with enhanced occupancy-related costs due to repairs and maintenance. Moreover, other noninterest expenses surged, mainly driven by professional fees.

By the end of September 2025, BancFirst's total assets amounted to $14.2 billion, reflecting a rise of $643.8 million from the end of the previous year. Loans grew by $254.0 million, totaling $8.3 billion as of September 30, 2025, while deposits hit $12.1 billion, an increase of $399.8 million from year-end 2024. Off-balance-sheet sweep accounts were reported at $4.9 billion, although this figure represented a decline of $316.4 million from the end of 2024. The total stockholders' equity reached $1.8 billion, marking an increase of $161.6 million since the end of the previous year.

BancFirst reported strong asset quality, with nonaccrual loans totaling $57.3 million, or 0.69% of total loans as of September 30, 2025, down from 0.72% at the end of 2024. Additionally, the allowance for credit losses to total loans was recorded at 1.20%, a slight decrease from the previous figure of 1.24%. Net charge-offs for the quarter stood at $1.7 million, which is substantially higher than the $775,000 reported for Q3 2024.

BancFirst Corporation's CEO, David Harlow, commented on the quarter’s results, attributing the strong performance to loan growth and a stable net interest margin. Harlow mentioned that higher-than-anticipated growth coupled with weaker employment prospects led to a Federal Reserve rate cut of 25 basis points in September, marking the first cut since December 2024.

Despite a mixed economic outlook, Harlow maintained a cautious stance, indicating a potential slowing economy in their operational region and, consequently, ensuring a robust allowance for credit losses relative to loans.

BancFirst Corporation, headquartered in Oklahoma, operates three subsidiary banks: BancFirst, Pegasus Bank located in Texas, and Worthington Bank, which also operates in Texas. The banks collectively cater to a vast network of communities across their operational states.

For further details on BancFirst’s operations and updates, please visit their official website at www.bancfirst.bank.