BancFirst reports Q2 EPS $1.51, consensus $1.42

BancFirst Corporation CEO David Harlow commented, “Strong loan growth led the way to another good quarter for the company. Total deposits returned to pre-March 2023 banking crisis levels, although the mix has changed materially as noninterest-bearing deposits have migrated to higher yielding account options. Recent inflation and unemployment data has provided more support for Federal Reserve rate cuts prior to year-end. However, the ultimate outlook on credit remains uncertain in our view and, accordingly, the company’s allowance for credit losses as a percentage of total loans remained relatively unchanged from the first quarter.”