BancFirst Corporation ( (BANF) ) has released its Q4 earnings. Here is a breakdown of the information BancFirst Corporation presented to its investors.
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BancFirst Corporation is a financial services holding company based in Oklahoma, operating subsidiaries including BancFirst with locations across Oklahoma and Pegasus and Worthington Banks in Texas. The company primarily focuses on providing banking services in the financial sector, with a significant presence in both states.
In its latest earnings report, BancFirst Corporation announced a net income of $56.5 million for the fourth quarter of 2024, a noticeable increase from $48.9 million in the same period in 2023. For the full year of 2024, the company’s net income rose to $216.4 million, reflecting steady growth from the previous year’s $212.5 million.
Key financial highlights include an increase in net interest income which reached $115.9 million, driven largely by higher loan volumes. Though noninterest income saw a modest rise to $47.0 million, noninterest expenses also increased, mainly due to higher salaries and employee benefits. The company’s total assets climbed to $13.6 billion by year-end, supported by substantial loan and deposit growth.
Looking forward, BancFirst Corporation remains optimistic about 2025, buoyed by the continued strong performance of the regional economy. The management expects positive momentum to persist, underpinned by robust asset quality and strategic investments in growth areas.