BancFirst Q1 Net Income Rises 12.3% to $63 Million, Assets Top $15.1B
BancFirst reported first-quarter net income of $63.0 million, or $1.85 per share, up from $56.1 million a year ago, driven by a 10.1% boost in net interest income. Total assets rose to $15.1 billion and deposits climbed $230.7 million as BancFirst completed its American Bank of Oklahoma conversion.
1. Q1 Financial Performance
BancFirst reported first-quarter net income of $63.0 million, or $1.85 per share, up from $56.1 million a year earlier. Net interest income climbed to $127.6 million with a 3.74% margin; provision for credit losses rose to $2.1 million while noninterest income reached $51.4 million against $49.0 million.
2. Balance Sheet Growth
Total assets increased by $277.6 million to $15.1 billion at March 31, 2026. Loans grew by $51.4 million to $8.6 billion, deposits rose $230.7 million to $12.9 billion, sweep accounts topped $5.1 billion, and shareholders’ equity expanded by $47.8 million to $1.9 billion.
3. Bank Conversion and Outlook
Conversion expenses for American Bank of Oklahoma were recognized during the quarter as salaries and benefits rose $4.3 million. CEO David Harlow noted regional economic strength, stable credit quality with nonaccrual loans at 0.72%, and maintained a healthy 1.23% allowance for credit losses to total loans.