BancFirst reports Q2 EPS $1.85, consensus $1.65

Q2 net interest margin was 3.75% vs. 3.76% last year. Tangible book value per common share was $46.12 from $44.47 at previous quarter and $42.92 a year ago. CEO David Harlow commented, “The company reported a strong quarter, albeit impacted by one-time events that had an approximate 5c per diluted share effect. We anticipate closing the recently-announced American Bank of Oklahoma acquisition in the 3rd quarter adding the Collinsville and Skiatook communities to the 59 communities we currently serve across the State of Oklahoma. The Fed continues a wait and see approach to short-term rates and we believe the Company is in a well-balanced position should the Fed decide to lower rates in the back half of the year. While recent economic data and performance has been encouraging, the longer-term outlook continues to be clouded by both the ongoing evolution of global trade policy and continued geopolitical risks. The ultimate impact on our region and customer base remains uncertain in our view, thus we continue to maintain a healthy loan loss reserve as a percentage of loans.”