--12-31falseQ3banf:AccruedInterestPayableAndOtherLiabilitiesMember0000760498us-gaap:AccountingStandardsUpdate201613Memberbanf:AccruedInterestReceivableAndOtherAssetsMember0000760498banf:CommercialRealEstateOwnerOccupiedMemberbanf:RealEstatePortfolioSegmentMember2021-06-3000007604982020-01-012020-01-010000760498banf:ConstructionResidentialRealEstateLessThanSixtyMonthsMemberbanf:RealEstatePortfolioSegmentMember2019-12-310000760498us-gaap:DepositAccountMember2020-07-012020-09-300000760498us-gaap:RetainedEarningsMember2021-09-300000760498banf:GradeFourMemberbanf:ConstructionAndDevelopmentLessThanSixtyMonthsMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498us-gaap:USStatesAndPoliticalSubdivisionsMember2021-09-300000760498us-gaap:FinancingReceivables30To59DaysPastDueMemberbanf:ConstructionAndDevelopmentLessThanSixtyMonthsMemberbanf:RealEstatePortfolioSegmentMember2020-12-310000760498us-gaap:OilAndGasMember2020-07-012020-09-300000760498banf:PegasusBankMemberus-gaap:OperatingSegmentsMember2020-12-310000760498banf:MidstreamEnergyLoansMemberbanf:BancFirstMemberbanf:EnergyMember2021-09-300000760498banf:PegasusBankMember2020-09-300000760498us-gaap:FiduciaryAndTrustMember2020-07-012020-09-300000760498us-gaap:FairValueInputsLevel2Memberus-gaap:USStatesAndPoliticalSubdivisionsMember2021-09-300000760498banf:FarmlandMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498us-gaap:FairValueInputsLevel1Memberus-gaap:USTreasurySecuritiesMember2020-12-310000760498banf:ResidentialRealEstateAllOtherMemberbanf:RealEstatePortfolioSegmentMember2020-01-012020-09-300000760498banf:BusinessAssetsMember2020-12-310000760498banf:NonEmployeeDirectorsStockOptionPlanMembersrt:MinimumMember2021-09-300000760498banf:ConstructionAndDevelopmentLessThanSixtyMonthsMemberbanf:RealEstatePortfolioSegmentMember2020-01-012020-09-300000760498us-gaap:AssetBackedSecuritiesMember2020-12-310000760498us-gaap:OilAndGasMember2019-12-310000760498banf:OtherLoansMember2020-12-310000760498banf:OtherAssetsCollateralMember2020-12-310000760498us-gaap:FairValueInputsLevel3Memberus-gaap:RealEstateInvestmentMemberus-gaap:FairValueMeasurementsNonrecurringMember2020-12-310000760498banf:ConstructionAndDevelopmentLessThanSixtyMonthsMemberbanf:RealEstatePortfolioSegmentMember2019-12-310000760498banf:ConsumerNonRealEstateMember2021-07-012021-09-300000760498banf:GradeTwoMemberbanf:FarmlandMemberbanf:RealEstatePortfolioSegmentMember2021-09-3000007604982020-06-300000760498banf:BancFirstDeferredStockCompensationPlanMember2021-09-300000760498us-gaap:CommercialRealEstateMember2021-09-300000760498banf:SeniorPreferredStockMember2020-12-310000760498us-gaap:OilAndGasMember2020-06-300000760498us-gaap:AdditionalPaidInCapitalMember2021-01-012021-09-300000760498banf:MidstreamEnergyLoansMemberbanf:BancFirstMemberbanf:EnergyMember2020-12-310000760498us-gaap:OilAndGasMember2021-06-300000760498banf:ConstructionResidentialRealEstateLessThanSixtyMonthsMemberbanf:RealEstatePortfolioSegmentMember2020-07-012020-09-300000760498banf:CommercialAndAgriculturalNonRealEstateMember2020-06-300000760498banf:GradeTwoMemberbanf:ConsumerNonRealEstateMember2021-09-300000760498banf:GradeOneMemberbanf:CommercialRealEstateNonOwnerOccupiedMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498banf:PegasusBankMember2021-01-012021-09-300000760498us-gaap:CoreDepositsMember2021-09-300000760498us-gaap:AdditionalPaidInCapitalMember2020-01-012020-09-300000760498banf:ConstructionAndDevelopmentLessThanSixtyMonthsMemberbanf:RealEstatePortfolioSegmentMember2020-06-300000760498us-gaap:CommonStockMember2020-01-012020-09-300000760498us-gaap:IntersegmentEliminationMember2021-01-012021-09-300000760498banf:GradeTwoMemberus-gaap:OilAndGasMember2021-09-300000760498banf:CommercialRealEstateNonOwnerOccupiedMemberbanf:RealEstatePortfolioSegmentMember2020-06-300000760498us-gaap:FiduciaryAndTrustMember2020-01-012020-09-300000760498banf:ConstructionResidentialRealEstateLessThanSixtyMonthsMemberbanf:GradeOneMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498us-gaap:OperatingSegmentsMemberbanf:MetropolitanBanksMember2021-07-012021-09-300000760498banf:BancFirstMemberbanf:UpstreamEnergyLoansMemberbanf:EnergyMember2021-09-300000760498us-gaap:FinancingReceivables30To59DaysPastDueMemberbanf:FarmlandMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498banf:CommercialRealEstateNonOwnerOccupiedMemberbanf:RealEstatePortfolioSegmentMember2021-07-012021-09-300000760498banf:FarmlandMemberbanf:SpecificAllocationMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498banf:CommercialAndAgriculturalNonRealEstateMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-12-310000760498banf:CommercialRealEstateOwnerOccupiedMemberbanf:RealEstatePortfolioSegmentMember2020-01-012020-09-300000760498us-gaap:FinancingReceivables30To59DaysPastDueMemberbanf:ResidentialRealEstateAllOtherMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498banf:SmallBusinessAdministrationCARESActPaycheckProtectionProgramLendingFacilityMember2021-09-300000760498us-gaap:MortgageBackedSecuritiesMember2021-09-300000760498banf:SpecificAllocationMember2021-09-300000760498us-gaap:CumulativePreferredStockMemberbanf:BancFirstCapitalTrustTwoMember2021-01-012021-09-300000760498banf:CommercialRealEstateNonOwnerOccupiedMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498us-gaap:AdditionalPaidInCapitalMember2021-07-012021-09-300000760498us-gaap:FiduciaryAndTrustMember2021-07-012021-09-300000760498banf:OtherLoansMember2021-06-300000760498us-gaap:CumulativePreferredStockMember2020-12-310000760498us-gaap:FinancingReceivables30To59DaysPastDueMemberbanf:ResidentialRealEstateFirstLienMemberbanf:RealEstatePortfolioSegmentMember2020-12-310000760498banf:PegasusBankMember2021-09-300000760498banf:ResidentialRealEstateFirstLienMemberbanf:SpecificAllocationMemberbanf:RealEstatePortfolioSegmentMember2020-12-310000760498us-gaap:CommercialRealEstateMember2020-12-310000760498banf:CommercialAndAgriculturalNonRealEstateMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-12-310000760498banf:BusinessAssetsMemberbanf:OtherLoansMember2021-09-300000760498banf:PegasusBankMember2020-06-300000760498banf:FarmlandMemberbanf:SpecificAllocationMemberbanf:RealEstatePortfolioSegmentMember2020-12-310000760498us-gaap:CommonStockMember2021-07-012021-09-300000760498us-gaap:OilAndGasMember2021-09-300000760498us-gaap:RealEstateMemberbanf:PegasusBankMember2020-12-310000760498us-gaap:FinancingReceivables30To59DaysPastDueMemberbanf:ResidentialRealEstateAllOtherMemberbanf:RealEstatePortfolioSegmentMember2020-12-310000760498banf:ResidentialRealEstateAllOtherMemberus-gaap:FinancingReceivables60To89DaysPastDueMemberbanf:RealEstatePortfolioSegmentMember2020-12-310000760498banf:GradeTwoMemberbanf:ResidentialRealEstateFirstLienMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498banf:SpecificAllocationMemberbanf:OtherLoansMember2020-12-310000760498us-gaap:RealEstateMemberbanf:FarmlandMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498us-gaap:OilAndGasMember2020-12-310000760498us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2021-01-012021-09-300000760498us-gaap:FairValueInputsLevel2Member2020-12-310000760498us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-12-310000760498banf:CommercialAndAgriculturalNonRealEstateMemberbanf:PegasusBankMember2021-09-3000007604982020-01-012020-09-300000760498banf:GradeTwoMemberbanf:CommercialRealEstateNonOwnerOccupiedMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498banf:CollateralDependentLoansMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2021-09-300000760498banf:CommercialRealEstateOwnerOccupiedMemberbanf:RealEstatePortfolioSegmentMember2020-09-300000760498banf:PegasusBankMember2021-06-3000007604982021-09-012021-09-300000760498banf:GradeThreeMemberus-gaap:OilAndGasMember2021-09-300000760498banf:SpecificAllocationMemberbanf:CommercialRealEstateNonOwnerOccupiedMemberbanf:RealEstatePortfolioSegmentMember2020-12-310000760498banf:NonEmployeeDirectorsStockOptionPlanMember2021-01-012021-09-300000760498banf:ConstructionAndDevelopmentLessThanSixtyMonthsMemberbanf:RealEstatePortfolioSegmentMember2020-12-310000760498banf:OtherAssetsCollateralMemberbanf:ConsumerNonRealEstateMember2021-09-300000760498banf:CommercialAndAgriculturalNonRealEstateMember2021-01-012021-09-300000760498us-gaap:RetainedEarningsMember2020-12-310000760498us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2020-01-012020-09-300000760498us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-12-310000760498banf:BancFirstMemberbanf:EnergyMemberbanf:AncillaryServicesMember2020-12-310000760498banf:PegasusBankMember2019-12-310000760498us-gaap:MortgageBackedSecuritiesMember2020-12-310000760498us-gaap:FinancingReceivables30To59DaysPastDueMember2021-09-300000760498banf:PegasusBankMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300000760498banf:ResidentialRealEstateFirstLienMemberbanf:RealEstatePortfolioSegmentMember2019-12-310000760498us-gaap:FinancingReceivables30To59DaysPastDueMemberbanf:FarmlandMemberbanf:RealEstatePortfolioSegmentMember2020-12-310000760498us-gaap:FairValueInputsLevel3Member2021-09-300000760498banf:GradeFourMemberbanf:CommercialRealEstateOwnerOccupiedMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-07-012021-09-300000760498us-gaap:DepositAccountMember2020-01-012020-09-300000760498banf:CommercialRealEstateOwnerOccupiedMemberbanf:RealEstatePortfolioSegmentMember2020-12-310000760498srt:SubsidiariesMember2021-09-300000760498banf:BancFirstCorporationStockOptionPlanMember2021-01-012021-09-300000760498banf:EnergyMember2020-12-310000760498banf:ConsumerNonRealEstateMember2020-09-300000760498banf:ResidentialRealEstateFirstLienMemberus-gaap:RealEstateMemberbanf:RealEstatePortfolioSegmentMember2020-12-310000760498banf:ResidentialRealEstateFirstLienMemberus-gaap:FinancingReceivables60To89DaysPastDueMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498us-gaap:CoreDepositsMember2020-12-310000760498banf:ConstructionResidentialRealEstateLessThanSixtyMonthsMemberbanf:RealEstatePortfolioSegmentMember2021-06-300000760498us-gaap:FinancingReceivables30To59DaysPastDueMemberbanf:OtherLoansMember2020-12-310000760498banf:ConsumerNonRealEstateMember2021-09-300000760498us-gaap:AdditionalPaidInCapitalMember2020-09-300000760498banf:ConsumerNonRealEstateMember2020-07-012020-09-300000760498us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberbanf:CommercialRealEstateNonOwnerOccupiedMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498us-gaap:EmployeeStockOptionMemberbanf:BancFirstCorporationStockOptionPlanMember2021-09-300000760498banf:GradeTwoMemberbanf:ConstructionAndDevelopmentLessThanSixtyMonthsMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498banf:ResidentialRealEstateFirstLienMemberbanf:RealEstatePortfolioSegmentMember2020-06-300000760498us-gaap:CommonStockMember2020-07-012020-09-300000760498banf:ResidentialRealEstateFirstLienMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498banf:CommercialAndAgriculturalNonRealEstateMemberbanf:OtherAssetsCollateralMember2020-12-310000760498banf:ResidentialRealEstateFirstLienMemberbanf:RealEstatePortfolioSegmentMember2020-01-012020-09-300000760498banf:GradeThreeMemberbanf:CommercialRealEstateOwnerOccupiedMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498banf:CommercialRealEstateNonOwnerOccupiedMemberbanf:RealEstatePortfolioSegmentMember2021-01-012021-09-300000760498us-gaap:FinancingReceivables30To59DaysPastDueMemberbanf:ConsumerNonRealEstateMember2020-12-310000760498banf:ResidentialRealEstateFirstLienMemberbanf:GradeThreeMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498banf:PegasusBankMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300000760498us-gaap:CustomerRelationshipsMember2020-12-310000760498srt:ParentCompanyMember2021-09-300000760498us-gaap:FairValueInputsLevel2Memberus-gaap:MortgageBackedSecuritiesMember2021-09-300000760498us-gaap:PrivatePlacementMemberbanf:SubordinatedNotesDueTwoThousandThirtySixMember2021-01-012021-09-300000760498banf:CommunityBanksMember2021-09-300000760498banf:BancFirstMemberbanf:UpstreamEnergyLoansMemberbanf:EnergyMember2020-12-310000760498us-gaap:FinancingReceivables60To89DaysPastDueMemberbanf:CommercialRealEstateOwnerOccupiedMemberbanf:RealEstatePortfolioSegmentMember2020-12-310000760498stpr:OKbanf:FirstBankAndTrustCompanyMember2021-05-202021-05-200000760498us-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueInputsLevel3Member2020-12-310000760498banf:ResidentialRealEstateAllOtherMemberus-gaap:FinancingReceivables60To89DaysPastDueMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498us-gaap:RealEstateMemberbanf:FarmlandMemberbanf:RealEstatePortfolioSegmentMember2020-12-310000760498us-gaap:FinancingReceivables30To59DaysPastDueMember2020-12-310000760498banf:SeniorPreferredStockMember2021-09-300000760498banf:CommercialRealEstateNonOwnerOccupiedMemberbanf:RealEstatePortfolioSegmentMember2019-12-310000760498banf:CommercialAndAgriculturalNonRealEstateMemberbanf:PegasusBankMember2020-12-310000760498banf:BusinessAssetsMemberbanf:OtherLoansMember2020-12-310000760498banf:CommercialAndAgriculturalNonRealEstateMember2021-07-012021-09-300000760498banf:BancFirstMember2021-09-300000760498banf:GradeFourMemberbanf:ResidentialRealEstateFirstLienMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498us-gaap:PrivatePlacementMemberbanf:SubordinatedNotesDueTwoThousandThirtySixMember2021-06-170000760498banf:ResidentialRealEstateFirstLienMemberbanf:RealEstatePortfolioSegmentMember2021-01-012021-09-300000760498us-gaap:OperatingSegmentsMemberbanf:ExecutiveOperationsAndSupportMember2020-07-012020-09-300000760498banf:ConstructionResidentialRealEstateLessThanSixtyMonthsMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberbanf:RealEstatePortfolioSegmentMember2020-12-310000760498us-gaap:SubordinatedDebenturesSubjectToMandatoryRedemptionMemberbanf:BancFirstCapitalTrustTwoMember2021-01-012021-09-300000760498us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMember2020-07-012020-09-300000760498us-gaap:RetainedEarningsMember2020-07-012020-09-300000760498us-gaap:FinancingReceivables60To89DaysPastDueMember2021-09-300000760498us-gaap:RetainedEarningsMember2021-06-300000760498banf:ResidentialRealEstateFirstLienMemberbanf:RealEstatePortfolioSegmentMember2020-09-300000760498us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-01-012020-09-300000760498banf:FarmlandMemberbanf:RealEstatePortfolioSegmentMember2020-07-012020-09-300000760498banf:CommercialAndAgriculturalNonRealEstateMemberbanf:EnergyReservesMember2021-09-300000760498banf:ResidentialRealEstateAllOtherMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberbanf:RealEstatePortfolioSegmentMember2020-12-310000760498banf:CommercialAndAgriculturalNonRealEstateMemberbanf:GradeFourMember2021-09-300000760498banf:ConsumerNonRealEstateMemberbanf:SpecificAllocationMember2021-09-300000760498banf:PegasusBankMember2021-07-012021-09-300000760498us-gaap:OtherDebtSecuritiesMember2021-09-300000760498banf:CommercialAndAgriculturalNonRealEstateMemberbanf:BusinessAssetsMember2020-12-310000760498banf:ConsumerNonRealEstateMember2020-06-300000760498banf:OtherLoansMember2020-09-300000760498banf:CommercialRealEstateNonOwnerOccupiedMemberbanf:RealEstatePortfolioSegmentMember2021-06-300000760498banf:BancFirstDeferredStockCompensationPlanMember2021-01-012021-09-300000760498us-gaap:OperatingSegmentsMemberbanf:MetropolitanBanksMember2020-01-012020-09-300000760498us-gaap:OperatingSegmentsMemberbanf:CommunityBanksMember2021-01-012021-09-3000007604982021-10-290000760498banf:EnergyMember2021-09-300000760498banf:ConstructionAndDevelopmentLessThanSixtyMonthsMemberbanf:RealEstatePortfolioSegmentMember2020-09-300000760498banf:ResidentialRealEstateAllOtherMemberbanf:RealEstatePortfolioSegmentMember2021-06-300000760498banf:OtherLoansMember2021-01-012021-09-300000760498banf:GradeOneMemberbanf:PegasusBankMember2021-09-300000760498banf:SpecificAllocationMemberbanf:CommercialRealEstateOwnerOccupiedMemberbanf:RealEstatePortfolioSegmentMember2020-12-310000760498banf:GradeFourMemberbanf:OtherLoansMember2021-09-300000760498banf:UpstreamEnergyLoansMemberbanf:EnergyMemberbanf:PegasusBankMember2021-09-300000760498us-gaap:RetainedEarningsMember2021-07-012021-09-300000760498us-gaap:FairValueInputsLevel2Memberus-gaap:USStatesAndPoliticalSubdivisionsMember2020-12-310000760498us-gaap:FinancingReceivables30To59DaysPastDueMemberbanf:CommercialRealEstateNonOwnerOccupiedMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498us-gaap:USGovernmentAgenciesDebtSecuritiesMember2020-12-310000760498banf:ExecutiveOperationsAndSupportMember2021-09-300000760498us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberbanf:RepossessedAssetsMember2020-12-310000760498us-gaap:FinancingReceivables60To89DaysPastDueMemberbanf:ConsumerNonRealEstateMember2020-12-310000760498banf:ConstructionAndDevelopmentLessThanSixtyMonthsMemberbanf:RealEstatePortfolioSegmentMember2021-07-012021-09-300000760498banf:GradeThreeMemberbanf:ConstructionAndDevelopmentLessThanSixtyMonthsMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498banf:FarmlandMemberbanf:GradeOneMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498banf:GradeOneMemberbanf:CommercialRealEstateOwnerOccupiedMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498banf:OtherAssetsCollateralMember2021-09-300000760498us-gaap:FinancingReceivables60To89DaysPastDueMemberbanf:ConsumerNonRealEstateMember2021-09-300000760498us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-06-300000760498banf:FarmlandMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberbanf:RealEstatePortfolioSegmentMember2020-12-310000760498us-gaap:RetainedEarningsMember2020-09-300000760498us-gaap:AdditionalPaidInCapitalMember2021-09-300000760498us-gaap:FinancingReceivables30To59DaysPastDueMemberbanf:ConstructionAndDevelopmentLessThanSixtyMonthsMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498us-gaap:FairValueInputsLevel2Memberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2020-12-310000760498us-gaap:FairValueInputsLevel2Member2021-09-300000760498banf:CommercialRealEstateNonOwnerOccupiedMemberbanf:RealEstatePortfolioSegmentMember2020-07-012020-09-300000760498us-gaap:FinancingReceivables60To89DaysPastDueMemberbanf:OtherLoansMember2020-12-310000760498us-gaap:RealEstateMemberbanf:ResidentialRealEstateFirstLienMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498banf:ResidentialRealEstateFirstLienMemberbanf:RealEstatePortfolioSegmentMember2020-07-012020-09-300000760498us-gaap:FinancingReceivables60To89DaysPastDueMemberbanf:ConstructionAndDevelopmentLessThanSixtyMonthsMemberbanf:RealEstatePortfolioSegmentMember2020-12-310000760498banf:ResidentialRealEstateAllOtherMemberbanf:RealEstatePortfolioSegmentMember2020-06-300000760498us-gaap:CommonStockMember2020-09-300000760498us-gaap:OperatingSegmentsMemberbanf:MetropolitanBanksMember2020-07-012020-09-300000760498banf:PegasusBankMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498banf:FarmlandMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498banf:OtherLoansMember2019-12-310000760498us-gaap:OperatingSegmentsMemberbanf:CommunityBanksMember2020-07-012020-09-300000760498banf:CommercialRealEstateNonOwnerOccupiedMemberbanf:RealEstatePortfolioSegmentMember2020-09-300000760498banf:ResidentialRealEstateAllOtherMemberbanf:SpecificAllocationMemberbanf:RealEstatePortfolioSegmentMember2020-12-310000760498banf:FirstBankAndTrustCompanyMember2021-05-202021-05-200000760498banf:FarmlandMemberbanf:RealEstatePortfolioSegmentMember2020-09-300000760498banf:FarmlandMemberus-gaap:FinancingReceivables60To89DaysPastDueMemberbanf:RealEstatePortfolioSegmentMember2020-12-310000760498banf:SpecificAllocationMemberbanf:CommercialRealEstateNonOwnerOccupiedMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMember2020-01-012020-09-300000760498us-gaap:OperatingSegmentsMemberbanf:CommunityBanksMember2020-12-310000760498us-gaap:RealEstateMemberbanf:CommercialRealEstateNonOwnerOccupiedMemberbanf:RealEstatePortfolioSegmentMember2020-12-310000760498us-gaap:USTreasurySecuritiesMember2020-12-310000760498banf:OtherLoansMember2021-09-300000760498us-gaap:CommonStockMember2021-01-012021-09-300000760498us-gaap:FairValueInputsLevel2Memberus-gaap:AssetBackedSecuritiesMember2021-09-300000760498banf:FarmlandMemberbanf:GradeThreeMemberbanf:RealEstatePortfolioSegmentMember2021-09-3000007604982020-07-012020-09-300000760498banf:ResidentialRealEstateAllOtherMemberbanf:GradeThreeMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498us-gaap:FinancingReceivables30To59DaysPastDueMemberbanf:CommercialRealEstateOwnerOccupiedMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498stpr:OK2021-01-220000760498banf:ResidentialRealEstateAllOtherMemberus-gaap:RealEstateMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueInputsLevel3Member2020-12-310000760498us-gaap:USGovernmentAgenciesDebtSecuritiesMember2021-09-300000760498banf:GradeThreeMemberbanf:OtherLoansMember2021-09-300000760498banf:ResidentialRealEstateFirstLienMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498us-gaap:OperatingSegmentsMemberbanf:ExecutiveOperationsAndSupportMember2021-01-012021-09-300000760498banf:ResidentialRealEstateAllOtherMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498banf:FarmlandMemberbanf:RealEstatePortfolioSegmentMember2021-01-012021-09-300000760498us-gaap:FinancingReceivables60To89DaysPastDueMember2020-12-310000760498banf:FarmlandMemberbanf:RealEstatePortfolioSegmentMember2020-01-012020-09-300000760498banf:GradeFourMemberbanf:ConsumerNonRealEstateMember2021-09-300000760498banf:GradeOneMemberbanf:ResidentialRealEstateAllOtherMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498banf:ConsumerNonRealEstateMember2019-12-310000760498banf:ConsumerNonRealEstateMember2021-06-300000760498banf:GradeFourMemberbanf:CommercialRealEstateNonOwnerOccupiedMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498us-gaap:RetainedEarningsMember2020-06-300000760498us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberbanf:CommercialRealEstateNonOwnerOccupiedMemberbanf:RealEstatePortfolioSegmentMember2020-12-310000760498us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMember2021-09-300000760498us-gaap:RealEstateMember2021-09-300000760498us-gaap:FairValueInputsLevel2Memberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2021-09-300000760498us-gaap:AdditionalPaidInCapitalMember2020-06-300000760498banf:ConstructionResidentialRealEstateLessThanSixtyMonthsMemberbanf:RealEstatePortfolioSegmentMember2020-06-300000760498banf:GradeOneMemberbanf:OtherLoansMember2021-09-3000007604982021-01-012021-09-300000760498banf:CommercialAndAgriculturalNonRealEstateMemberbanf:BusinessAssetsMember2021-09-300000760498banf:CommercialAndAgriculturalNonRealEstateMemberbanf:GradeThreeMember2021-09-300000760498banf:GradeThreeMemberbanf:CommercialRealEstateNonOwnerOccupiedMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498banf:ConstructionResidentialRealEstateLessThanSixtyMonthsMemberbanf:RealEstatePortfolioSegmentMember2021-07-012021-09-300000760498us-gaap:CommonStockMember2020-12-310000760498banf:SpecificAllocationMemberbanf:PegasusBankMember2020-12-310000760498us-gaap:FairValueInputsLevel2Membersrt:SubsidiariesMember2020-12-310000760498banf:ConsumerNonRealEstateMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-12-310000760498us-gaap:FinancingReceivables30To59DaysPastDueMemberbanf:ResidentialRealEstateFirstLienMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498banf:GradeTwoMemberbanf:CommercialRealEstateOwnerOccupiedMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498banf:ConstructionAndDevelopmentLessThanSixtyMonthsMemberbanf:RealEstatePortfolioSegmentMember2021-01-012021-09-300000760498banf:FarmlandMemberbanf:RealEstatePortfolioSegmentMember2021-07-012021-09-300000760498banf:MetropolitanBanksMember2021-09-300000760498us-gaap:USGovernmentAgenciesDebtSecuritiesMember2020-01-012020-12-310000760498banf:ResidentialRealEstateAllOtherMemberbanf:SpecificAllocationMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498banf:ResidentialRealEstateAllOtherMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498banf:FirstBankAndTrustCompanyMember2021-05-200000760498us-gaap:AllOtherSegmentsMember2021-09-300000760498banf:ResidentialRealEstateAllOtherMemberbanf:RealEstatePortfolioSegmentMember2020-07-012020-09-3000007604982020-09-300000760498banf:ConstructionResidentialRealEstateLessThanSixtyMonthsMemberbanf:RealEstatePortfolioSegmentMember2020-09-300000760498banf:EnergyMemberbanf:AncillaryServicesMemberbanf:PegasusBankMember2021-09-300000760498us-gaap:IntersegmentEliminationMember2021-09-300000760498banf:OtherAssetsCollateralMemberbanf:ConsumerNonRealEstateMember2020-12-310000760498banf:ResidentialRealEstateFirstLienMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberbanf:RealEstatePortfolioSegmentMember2020-12-310000760498us-gaap:CommonStockMember2019-12-310000760498banf:CommercialRealEstateOwnerOccupiedMemberbanf:RealEstatePortfolioSegmentMember2019-12-310000760498us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMember2021-01-012021-09-300000760498us-gaap:OilAndGasMember2020-01-012020-09-300000760498us-gaap:OperatingSegmentsMemberbanf:CommunityBanksMember2021-07-012021-09-300000760498us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueInputsLevel3Member2021-09-300000760498banf:FarmlandMemberbanf:RealEstatePortfolioSegmentMember2019-12-310000760498banf:GradeOneMemberus-gaap:OilAndGasMember2021-09-300000760498banf:ConstructionAndDevelopmentLessThanSixtyMonthsMemberbanf:RealEstatePortfolioSegmentMember2020-07-012020-09-300000760498banf:GradeTwoMemberbanf:OtherLoansMember2021-09-300000760498banf:GradeTwoMemberbanf:ConstructionResidentialRealEstateLessThanSixtyMonthsMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498us-gaap:RetainedEarningsMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2019-12-310000760498banf:ConstructionResidentialRealEstateLessThanSixtyMonthsMemberbanf:GradeThreeMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498us-gaap:FinancingReceivables30To59DaysPastDueMemberbanf:ConsumerNonRealEstateMember2021-09-300000760498us-gaap:CommonStockMember2021-06-300000760498banf:CommercialAndAgriculturalNonRealEstateMemberbanf:SpecificAllocationMember2021-09-300000760498banf:ConstructionResidentialRealEstateLessThanSixtyMonthsMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498us-gaap:RealEstateMemberbanf:CommercialRealEstateNonOwnerOccupiedMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498us-gaap:IntersegmentEliminationMember2021-07-012021-09-300000760498us-gaap:OperatingSegmentsMemberbanf:CommunityBanksMember2021-09-300000760498banf:FarmlandMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498banf:CommercialAndAgriculturalNonRealEstateMember2020-07-012020-09-300000760498us-gaap:RealEstateMemberbanf:CommercialRealEstateOwnerOccupiedMemberbanf:RealEstatePortfolioSegmentMember2020-12-310000760498banf:ConsumerNonRealEstateMemberbanf:SpecificAllocationMember2020-12-310000760498banf:CommercialAndAgriculturalNonRealEstateMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-09-300000760498us-gaap:PrivatePlacementMemberbanf:ThreeMonthTermSOFRMemberbanf:SubordinatedNotesDueTwoThousandThirtySixMember2021-01-012021-09-300000760498us-gaap:AdditionalPaidInCapitalMember2021-06-300000760498stpr:OKbanf:NoninterestIncomeMember2021-01-222021-01-220000760498us-gaap:EmployeeStockOptionMemberbanf:BancFirstCorporationStockOptionPlanMember2021-01-012021-09-300000760498banf:FarmlandMemberbanf:RealEstatePortfolioSegmentMember2020-12-310000760498banf:GradeTwoMemberbanf:ResidentialRealEstateAllOtherMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498us-gaap:OperatingSegmentsMemberbanf:MetropolitanBanksMember2021-01-012021-09-300000760498banf:OtherLoansMember2020-07-012020-09-300000760498banf:CommercialAndAgriculturalNonRealEstateMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2021-09-300000760498banf:PegasusBankMember2020-01-012020-09-300000760498banf:CommercialRealEstateOwnerOccupiedMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498banf:CommercialAndAgriculturalNonRealEstateMember2021-09-300000760498us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberbanf:OtherLoansMember2020-12-310000760498us-gaap:FinancingReceivables60To89DaysPastDueMemberbanf:OtherLoansMember2021-09-300000760498banf:CollateralDependentLoansMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2020-12-310000760498banf:GradeTwoMemberbanf:PegasusBankMember2021-09-300000760498banf:BancFirstMemberbanf:EnergyMemberbanf:AncillaryServicesMember2021-09-300000760498banf:ConsumerNonRealEstateMember2021-01-012021-09-300000760498banf:SpecificAllocationMemberbanf:CommercialRealEstateOwnerOccupiedMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498us-gaap:OtherDebtSecuritiesMember2020-12-310000760498banf:EnergyMemberbanf:AncillaryServicesMemberbanf:PegasusBankMember2020-12-310000760498banf:ResidentialRealEstateFirstLienMemberus-gaap:FinancingReceivables60To89DaysPastDueMemberbanf:RealEstatePortfolioSegmentMember2020-12-310000760498banf:CommercialRealEstateNonOwnerOccupiedMemberbanf:RealEstatePortfolioSegmentMember2020-01-012020-09-300000760498us-gaap:RealEstateMemberbanf:CommercialRealEstateOwnerOccupiedMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498banf:MidstreamEnergyLoansMemberbanf:EnergyMemberbanf:PegasusBankMember2020-12-310000760498banf:OtherLoansMember2021-07-012021-09-300000760498banf:CommercialAndAgriculturalNonRealEstateMember2020-09-300000760498banf:ResidentialRealEstateAllOtherMemberus-gaap:RealEstateMemberbanf:RealEstatePortfolioSegmentMember2020-12-310000760498banf:ResidentialRealEstateFirstLienMemberbanf:RealEstatePortfolioSegmentMember2021-06-300000760498banf:ResidentialRealEstateAllOtherMemberbanf:RealEstatePortfolioSegmentMember2021-07-012021-09-300000760498banf:CommercialAndAgriculturalNonRealEstateMember2020-01-012020-09-300000760498srt:MaximumMember2021-09-300000760498us-gaap:FairValueInputsLevel1Memberus-gaap:USTreasurySecuritiesMember2021-09-300000760498banf:GradeOneMemberbanf:ConsumerNonRealEstateMember2021-09-300000760498banf:GradeTwoMemberbanf:CommercialAndAgriculturalNonRealEstateMember2021-09-300000760498banf:ConstructionAndDevelopmentLessThanSixtyMonthsMemberbanf:RealEstatePortfolioSegmentMember2021-06-300000760498banf:CommercialAndAgriculturalNonRealEstateMemberbanf:OtherAssetsCollateralMember2021-09-300000760498us-gaap:OperatingSegmentsMemberbanf:MetropolitanBanksMember2021-09-300000760498us-gaap:OperatingSegmentsMemberbanf:ExecutiveOperationsAndSupportMember2020-12-310000760498us-gaap:FairValueInputsLevel3Memberus-gaap:EquitySecuritiesMemberus-gaap:FairValueMeasurementsNonrecurringMember2021-09-300000760498banf:FarmlandMemberbanf:RealEstatePortfolioSegmentMember2021-06-300000760498banf:PegasusBankMemberus-gaap:OperatingSegmentsMember2021-07-012021-09-300000760498banf:CommercialAndAgriculturalNonRealEstateMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-12-310000760498us-gaap:RealEstateMember2020-12-310000760498banf:ConstructionAndDevelopmentLessThanSixtyMonthsMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498us-gaap:DepositAccountMember2021-07-012021-09-3000007604982021-06-3000007604982021-07-012021-09-300000760498banf:MidstreamEnergyLoansMemberbanf:EnergyMemberbanf:PegasusBankMember2021-09-300000760498us-gaap:IntersegmentEliminationMember2020-01-012020-09-300000760498banf:CommercialRealEstateNonOwnerOccupiedMemberbanf:RealEstatePortfolioSegmentMember2020-12-310000760498banf:CommercialAndAgriculturalNonRealEstateMemberbanf:GradeOneMember2021-09-300000760498banf:FarmlandMemberbanf:RealEstatePortfolioSegmentMember2020-06-300000760498us-gaap:RetainedEarningsMember2021-01-012021-09-300000760498banf:ConsumerNonRealEstateMember2020-12-310000760498banf:ConstructionResidentialRealEstateLessThanSixtyMonthsMemberbanf:RealEstatePortfolioSegmentMember2021-01-012021-09-300000760498banf:FarmlandMemberus-gaap:FinancingReceivables60To89DaysPastDueMemberbanf:RealEstatePortfolioSegmentMember2021-09-3000007604982020-12-310000760498us-gaap:OperatingSegmentsMemberbanf:CommunityBanksMember2020-01-012020-09-300000760498us-gaap:AdditionalPaidInCapitalMember2019-12-310000760498us-gaap:RetainedEarningsMember2020-01-012020-09-300000760498banf:CommercialAndAgriculturalNonRealEstateMember2021-06-300000760498us-gaap:OperatingSegmentsMemberbanf:MetropolitanBanksMember2020-12-310000760498banf:PegasusBankMember2020-07-012020-09-300000760498banf:CommercialRealEstateOwnerOccupiedMemberbanf:RealEstatePortfolioSegmentMember2021-01-012021-09-300000760498banf:CommercialAndAgriculturalNonRealEstateMember2019-12-310000760498us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-09-300000760498us-gaap:OperatingSegmentsMemberbanf:ExecutiveOperationsAndSupportMember2021-09-300000760498us-gaap:PrivatePlacementMemberbanf:SubordinatedNotesDueTwoThousandThirtySixMember2021-06-172021-06-170000760498us-gaap:FinancingReceivables30To59DaysPastDueMemberbanf:CommercialRealEstateOwnerOccupiedMemberbanf:RealEstatePortfolioSegmentMember2020-12-310000760498banf:NonEmployeeDirectorsStockOptionPlanMember2021-09-300000760498banf:EnergyReservesMember2021-09-300000760498banf:CommercialAndAgriculturalNonRealEstateMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-09-300000760498srt:MinimumMemberus-gaap:EmployeeStockOptionMemberbanf:BancFirstCorporationStockOptionPlanMember2021-09-300000760498us-gaap:OilAndGasMember2021-07-012021-09-300000760498banf:FarmlandMemberbanf:RealEstatePortfolioSegmentMember2020-12-310000760498us-gaap:CommonStockMember2020-06-300000760498banf:UpstreamEnergyLoansMemberbanf:EnergyMemberbanf:PegasusBankMember2020-12-310000760498us-gaap:CommonStockMember2021-09-300000760498banf:ResidentialRealEstateAllOtherMemberbanf:RealEstatePortfolioSegmentMember2019-12-310000760498banf:ConsumerNonRealEstateMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-09-300000760498us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberbanf:OtherLoansMember2021-09-300000760498us-gaap:CumulativePreferredStockMemberbanf:BancFirstCapitalTrustTwoMember2004-02-012004-02-290000760498us-gaap:AdditionalPaidInCapitalMember2020-07-012020-09-300000760498banf:BearInterestAtFixedRateOfThreePointFiveZeroPercentageMemberus-gaap:PrivatePlacementMemberbanf:SubordinatedNotesDueTwoThousandThirtySixMember2021-01-012021-09-300000760498banf:SpecificAllocationMemberbanf:OtherLoansMember2021-09-3000007604982020-01-012020-12-310000760498us-gaap:FinancingReceivables30To59DaysPastDueMemberbanf:CommercialRealEstateNonOwnerOccupiedMemberbanf:RealEstatePortfolioSegmentMember2020-12-310000760498banf:WorthingtonNationalBankMemberus-gaap:SubsequentEventMember2021-10-290000760498banf:ResidentialRealEstateFirstLienMemberbanf:SpecificAllocationMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498us-gaap:AssetBackedSecuritiesMember2021-09-300000760498banf:GradeOneMemberbanf:ResidentialRealEstateFirstLienMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498banf:GradeOneMemberbanf:ConstructionAndDevelopmentLessThanSixtyMonthsMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498banf:ResidentialRealEstateAllOtherMemberbanf:RealEstatePortfolioSegmentMember2020-12-310000760498us-gaap:RetainedEarningsMember2019-12-310000760498banf:BancFirstDeferredStockCompensationPlanMember2020-01-012020-09-300000760498us-gaap:USTreasurySecuritiesMember2021-09-300000760498banf:PegasusBankMember2021-09-300000760498us-gaap:IntersegmentEliminationMember2020-12-310000760498banf:CommercialRealEstateOwnerOccupiedMemberbanf:RealEstatePortfolioSegmentMember2020-07-012020-09-300000760498us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberbanf:RepossessedAssetsMember2021-09-300000760498banf:CommercialRealEstateOwnerOccupiedMemberbanf:RealEstatePortfolioSegmentMember2020-06-300000760498banf:ResidentialRealEstateAllOtherMemberbanf:RealEstatePortfolioSegmentMember2020-09-300000760498banf:SpecificAllocationMember2020-12-310000760498us-gaap:OperatingSegmentsMemberbanf:ExecutiveOperationsAndSupportMember2021-07-012021-09-300000760498us-gaap:AdditionalPaidInCapitalMember2020-12-310000760498banf:ResidentialRealEstateFirstLienMemberbanf:RealEstatePortfolioSegmentMember2021-07-012021-09-300000760498banf:CommercialRealEstateOwnerOccupiedMemberbanf:RealEstatePortfolioSegmentMember2021-07-012021-09-300000760498banf:OtherLoansMember2020-06-300000760498us-gaap:FairValueInputsLevel3Memberus-gaap:RealEstateInvestmentMemberus-gaap:FairValueMeasurementsNonrecurringMember2021-09-300000760498us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-09-300000760498us-gaap:SubordinatedDebenturesSubjectToMandatoryRedemptionMemberbanf:BancFirstCapitalTrustTwoMember2021-09-300000760498us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberbanf:CommercialRealEstateOwnerOccupiedMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498us-gaap:DepositAccountMember2021-01-012021-09-300000760498banf:FarmlandMemberbanf:GradeFourMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-07-012020-09-300000760498us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-06-300000760498banf:PegasusBankMemberus-gaap:OperatingSegmentsMember2021-01-012021-09-300000760498us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-12-310000760498us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMember2020-12-310000760498us-gaap:CustomerRelationshipsMember2021-09-300000760498us-gaap:USStatesAndPoliticalSubdivisionsMember2020-12-310000760498banf:PegasusBankMember2021-09-300000760498us-gaap:IntersegmentEliminationMember2020-07-012020-09-300000760498banf:GradeThreeMemberbanf:PegasusBankMember2021-09-300000760498banf:CommercialAndAgriculturalNonRealEstateMemberbanf:SpecificAllocationMember2020-12-310000760498banf:ConstructionResidentialRealEstateLessThanSixtyMonthsMemberbanf:RealEstatePortfolioSegmentMember2020-12-310000760498banf:OtherLoansMember2020-01-012020-09-300000760498banf:BusinessAssetsMember2021-09-300000760498us-gaap:OilAndGasMember2020-09-300000760498us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-01-012021-09-3000007604982021-09-3000007604982019-12-310000760498us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-09-300000760498banf:GradeFourMemberbanf:ResidentialRealEstateAllOtherMemberbanf:RealEstatePortfolioSegmentMember2021-09-300000760498banf:ConstructionResidentialRealEstateLessThanSixtyMonthsMemberbanf:RealEstatePortfolioSegmentMember2020-01-012020-09-300000760498banf:ConsumerNonRealEstateMemberbanf:GradeThreeMember2021-09-300000760498us-gaap:FairValueInputsLevel3Member2020-12-310000760498us-gaap:FairValueInputsLevel3Memberus-gaap:EquitySecuritiesMemberus-gaap:FairValueMeasurementsNonrecurringMember2020-12-310000760498us-gaap:CumulativePreferredStockMemberbanf:BancFirstCapitalTrustTwoMember2004-03-012004-03-310000760498us-gaap:FairValueInputsLevel2Memberus-gaap:MortgageBackedSecuritiesMember2020-12-310000760498banf:ResidentialRealEstateAllOtherMemberbanf:RealEstatePortfolioSegmentMember2021-01-012021-09-300000760498us-gaap:FinancingReceivables30To59DaysPastDueMemberbanf:ConstructionResidentialRealEstateLessThanSixtyMonthsMemberbanf:RealEstatePortfolioSegmentMember2020-12-310000760498us-gaap:CumulativePreferredStockMember2021-09-300000760498us-gaap:FiduciaryAndTrustMember2021-01-012021-09-300000760498us-gaap:RealEstateInvestmentMemberbanf:PreviousCorporateHeadquartersMember2021-01-012021-09-300000760498us-gaap:FinancingReceivables30To59DaysPastDueMemberbanf:OtherLoansMember2021-09-300000760498us-gaap:OperatingSegmentsMemberbanf:ExecutiveOperationsAndSupportMember2020-01-012020-09-300000760498banf:PegasusBankMemberus-gaap:OperatingSegmentsMember2021-09-300000760498us-gaap:OilAndGasMember2021-01-012021-09-300000760498banf:CommercialAndAgriculturalNonRealEstateMember2020-12-310000760498banf:ResidentialRealEstateFirstLienMemberbanf:RealEstatePortfolioSegmentMember2020-12-310000760498banf:PegasusBankMember2020-12-310000760498banf:ConsumerNonRealEstateMember2020-01-012020-09-300000760498us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMember2021-07-012021-09-300000760498us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberbanf:CommercialRealEstateOwnerOccupiedMemberbanf:RealEstatePortfolioSegmentMember2020-12-310000760498us-gaap:USGovernmentAgenciesDebtSecuritiesMember2021-01-012021-09-30xbrli:purebanf:Business_Unitxbrli:sharesbanf:Locationiso4217:USDxbrli:sharesiso4217:USD

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10-Q

 

 

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the quarterly period ended September 30, 2021

OR

 

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the transition period from to

Commission File Number 0-14384

 

BancFirst Corporation

(Exact name of registrant as specified in charter)

 

 

Oklahoma

 

73-1221379

(State or other Jurisdiction of

 

(I.R.S. Employer

incorporation or organization)

 

Identification No.)

 

100 N. Broadway Ave., Oklahoma City, Oklahoma

 

73102-8405

(Address of principal executive offices)

 

(Zip Code)

(405) 270-1086

(Registrant’s telephone number, including area code)

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

 

Trading

Symbol(s)

 

Name of each exchange on which registered

Common Stock, $1.00 Par Value Per Share

 

BANF

 

NASDAQ Global Select Market System

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐.

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (sec. 232-405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐.

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer. See definition of “accelerated filer and large accelerated filer” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer

Accelerated filer

 

 

 

 

Non-accelerated filer

Smaller reporting company

 

 

 

 

Emerging growth company

 

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined by Rule 12b-2 of the Exchange Act). Yes No ☒

As of October 29, 2021 there were 32,572,217 shares of the registrant’s Common Stock outstanding.

 

 


 

BancFirst Corporation

Quarterly Report on Form 10-Q

September 30, 2021

 

Table of Contents

 

Item

 

 

 

Page

 

 

PART I – Financial Information

 

 

 

1.

 

 

Financial Statements (Unaudited)

 

2

 

 

 

 

Consolidated Balance Sheets

 

2

 

 

 

 

Consolidated Statements of Comprehensive Income

 

3

 

 

 

 

Consolidated Statements of Shareholders’ Equity

 

4

 

 

 

Consolidated Statements of Cash Flow

 

5

 

 

 

 

 

 

 

Notes to Consolidated Financial Statements

 

6

 

2.

 

 

Management’s Discussion and Analysis of Financial Condition and Results of Operations

 

30

 

3.

 

 

Quantitative and Qualitative Disclosure About Market Risk

 

40

 

4.

 

 

Controls and Procedures

 

40

 

 

 

 

 

 

 

 

PART II – Other Information

 

 

 

1.

 

 

Legal Proceedings

 

41

 

       1A.

 

 

Risk Factors

 

41

 

2.

 

 

Unregistered Sales of Equity Securities

 

41

 

3.

 

 

Defaults Upon Senior Securities

 

41

 

4.

 

 

Mine Safety Disclosures

 

41

 

5.

 

 

Other Information

 

41

 

6.

 

Exhibits

 

42

 

Signatures

 

44

 

 


 

PART I – FINANCIAL INFORMATION

 

 

Item 1. Financial Statements.

BANCFIRST CORPORATION

CONSOLIDATED BALANCE SHEETS

(Dollars in thousands)

 

 

 

September 30,

 

 

December 31,

 

 

 

2021

 

 

2020

 

 

 

(unaudited)

 

 

(see Note 1)

 

ASSETS

 

 

 

 

 

 

Cash and due from banks

 

$

274,057

 

 

$

280,518

 

Interest-bearing deposits with banks

 

 

3,836,809

 

 

 

1,336,394

 

Debt securities held for investment (fair value: $2,984 and $2,984, respectively)

 

 

2,982

 

 

 

2,964

 

Debt securities available for sale at fair value

 

 

526,502

 

 

 

552,232

 

Loans held for sale

 

 

20,950

 

 

 

53,719

 

  Loans held for investment (net of unearned interest)

 

 

6,016,936

 

 

 

6,394,506

 

  Allowance for credit losses

 

 

(86,463

)

 

 

(91,366

)

Loans, net of allowance for credit losses

 

 

5,930,473

 

 

 

6,303,140

 

Premises and equipment, net

 

 

268,160

 

 

 

261,677

 

Other real estate owned

 

 

38,932

 

 

 

32,179

 

Intangible assets, net

 

 

18,325

 

 

 

18,999

 

Goodwill

 

 

149,922

 

 

 

149,922

 

Accrued interest receivable and other assets

 

 

235,659

 

 

 

220,613

 

Total assets

 

$

11,302,771

 

 

$

9,212,357

 

 

 

 

 

 

 

 

LIABILITIES AND STOCKHOLDERS' EQUITY

 

 

 

 

 

 

Deposits:

 

 

 

 

 

 

Noninterest-bearing

 

$

4,594,324

 

 

$

3,790,900

 

Interest-bearing

 

 

5,397,720

 

 

 

4,273,804

 

Total deposits

 

 

9,992,044

 

 

 

8,064,704

 

Short-term borrowings

 

 

3,500

 

 

 

1,100

 

Accrued interest payable and other liabilities

 

 

74,380

 

 

 

51,864

 

Subordinated debt

 

 

85,973

 

 

 

26,804

 

Total liabilities

 

 

10,155,897

 

 

 

8,144,472

 

 

 

 

 

 

 

 

Stockholders' equity:

 

 

 

 

 

 

  Senior preferred stock, $1.00 par; 10,000,000 shares authorized; none issued

 

 

 

 

 

 

  Cumulative preferred stock, $5.00 par; 900,000 shares authorized; none issued

 

 

 

 

 

 

  Common stock, $1.00 par, 40,000,000 shares authorized; shares issued and
      outstanding:
32,572,217 and 32,719,852, respectively

 

 

32,572

 

 

 

32,720

 

  Capital surplus

 

 

158,877

 

 

 

156,574

 

  Retained earnings

 

 

950,560

 

 

 

871,161

 

  Accumulated other comprehensive income, net of income tax of $1,533
      and $
2,513, respectively

 

 

4,865

 

 

 

7,430

 

Total stockholders' equity

 

 

1,146,874

 

 

 

1,067,885

 

Total liabilities and stockholders' equity

 

$

11,302,771

 

 

$

9,212,357

 

 

The accompanying Notes are an integral part of these consolidated financial statements.

2


 

BANCFIRST CORPORATION

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Unaudited)

(Dollars in thousands, except per share data)

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

INTEREST INCOME

 

 

 

 

 

 

 

 

 

 

 

 

Loans, including fees

 

$

80,249

 

 

$

76,612

 

 

$

240,358

 

 

$

231,985

 

Securities:

 

 

 

 

 

 

 

 

 

 

 

 

Taxable

 

 

1,484

 

 

 

2,032

 

 

 

4,779

 

 

 

6,665

 

Tax-exempt

 

 

35

 

 

 

131

 

 

 

175

 

 

 

383

 

Interest-bearing deposits with banks

 

 

1,441

 

 

 

422

 

 

 

2,861

 

 

 

5,586

 

Total interest income

 

 

83,209

 

 

 

79,197

 

 

 

248,173

 

 

 

244,619

 

INTEREST EXPENSE

 

 

 

 

 

 

 

 

 

 

 

 

Deposits

 

 

1,988

 

 

 

2,854

 

 

 

6,313

 

 

 

16,004

 

Short-term borrowings

 

 

 

 

 

 

 

 

1

 

 

 

8

 

Subordinated debt

 

 

1,031

 

 

 

491

 

 

 

2,100

 

 

 

1,474

 

Total interest expense

 

 

3,019

 

 

 

3,345

 

 

 

8,414

 

 

 

17,486

 

Net interest income

 

 

80,190

 

 

 

75,852

 

 

 

239,759

 

 

 

227,133

 

Provision for (benefit from) credit losses

 

 

1,483

 

 

 

18,740

 

 

 

(8,466

)

 

 

57,656

 

Net interest income after provision for/(benefit from) credit losses

 

 

78,707

 

 

 

57,112

 

 

 

248,225

 

 

 

169,477

 

NONINTEREST INCOME

 

 

 

 

 

 

 

 

 

 

 

 

Trust revenue

 

 

3,210

 

 

 

3,131

 

 

 

9,576

 

 

 

10,154

 

Service charges on deposits

 

 

21,706

 

 

 

19,078

 

 

 

61,330

 

 

 

54,642

 

Securities transactions (includes no accumulated other comprehensive income reclassifications)

 

 

150

 

 

 

 

 

 

417

 

 

 

(545

)

Income from sales of loans

 

 

1,594

 

 

 

1,873

 

 

 

5,737

 

 

 

4,215

 

Insurance commissions

 

 

6,666

 

 

 

5,197

 

 

 

17,670

 

 

 

15,316

 

Cash management

 

 

3,127

 

 

 

3,701

 

 

 

9,198

 

 

 

12,276

 

Gain on sale of other assets

 

 

34

 

 

 

(15

)

 

 

2,746

 

 

 

120

 

Other

 

 

3,299

 

 

 

1,610

 

 

 

17,665

 

 

 

5,624

 

Total noninterest income

 

 

39,786

 

 

 

34,575

 

 

 

124,339

 

 

 

101,802

 

NONINTEREST EXPENSE

 

 

 

 

 

 

 

 

 

 

 

 

Salaries and employee benefits

 

 

42,267

 

 

 

41,995

 

 

 

123,836

 

 

 

123,977

 

Occupancy, net

 

 

5,086

 

 

 

4,503

 

 

 

13,962

 

 

 

11,888

 

Depreciation

 

 

4,207

 

 

 

3,795

 

 

 

12,217

 

 

 

10,830

 

Amortization of intangible assets

 

 

755

 

 

 

968

 

 

 

2,357

 

 

 

2,900

 

Data processing services

 

 

1,734

 

 

 

1,669

 

 

 

5,072

 

 

 

4,990

 

Net loss/(income) from other real estate owned

 

 

1,810

 

 

 

196

 

 

 

6,677

 

 

 

(1,951

)

Marketing and business promotion

 

 

1,796

 

 

 

1,485

 

 

 

5,323

 

 

 

5,325

 

Deposit insurance

 

 

846

 

 

 

723

 

 

 

2,488

 

 

 

1,224

 

Other

 

 

11,713

 

 

 

10,749

 

 

 

37,268

 

 

 

32,936

 

Total noninterest expense

 

 

70,214

 

 

 

66,083

 

 

 

209,200

 

 

 

192,119

 

Income before taxes

 

 

48,279

 

 

 

25,604

 

 

 

163,364

 

 

 

79,160

 

Income tax expense

 

 

9,529

 

 

 

4,714

 

 

 

33,902

 

 

 

14,932

 

Net income

 

$

38,750

 

 

$

20,890

 

 

$

129,462

 

 

$

64,228

 

NET INCOME PER COMMON SHARE

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

1.18

 

 

$

0.64

 

 

$

3.95

 

 

$

1.97

 

Diluted

 

$

1.16

 

 

$

0.63

 

 

$

3.88

 

 

$

1.94

 

OTHER COMPREHENSIVE (LOSS) GAIN

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized (losses)/gains on debt securities, net of tax of $172, $335, $980 and $(1,756) respectively

 

 

(552

)

 

 

(982

)

 

 

(2,565

)

 

 

5,254

 

Comprehensive income

 

$

38,198

 

 

$

19,908

 

 

$

126,897

 

 

$

69,482

 

The accompanying Notes are an integral part of these consolidated financial statements.

3


 

BANCFIRST CORPORATION

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY

(Unaudited)

(Dollars in thousands)

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

COMMON STOCK

 

 

 

 

 

 

 

 

 

 

 

 

Issued at beginning of period

 

$

32,785

 

 

$

32,663

 

 

$

32,720

 

 

$

32,694

 

Shares issued for stock options

 

 

 

 

 

16

 

 

 

65

 

 

 

44

 

Shares acquired and canceled

 

 

(213

)

 

 

 

 

 

(213

)

 

 

(59

)

Issued at end of period

 

$

32,572

 

 

$

32,679

 

 

$

32,572

 

 

$

32,679

 

CAPITAL SURPLUS

 

 

 

 

 

 

 

 

 

 

 

 

Balance at beginning of period

 

$

158,322

 

 

$

154,692

 

 

$

156,574

 

 

$

153,353

 

Common stock issued for stock options

 

 

 

 

 

306

 

 

 

1,657

 

 

 

813

 

Net cash settlement of options

 

 

 

 

 

 

 

 

(958

)

 

 

 

Stock-based compensation arrangements

 

 

555

 

 

 

433

 

 

 

1,604

 

 

 

1,265

 

Balance at end of period

 

$

158,877

 

 

$

155,431

 

 

$

158,877

 

 

$

155,431

 

RETAINED EARNINGS

 

 

 

 

 

 

 

 

 

 

 

 

Balance at beginning of period

 

$

935,067

 

 

$

837,154

 

 

$

871,161

 

 

$

815,488

 

Net income

 

 

38,750

 

 

 

20,890

 

 

 

129,462

 

 

 

64,228

 

Cumulative effect of change in accounting principle, net of tax of $925

 

 

 

 

 

 

 

 

 

 

 

2,270

 

Dividends on common stock ($0.36, $0.34, $1.04 and $0.98 per share, respectively)

 

 

(11,806

)

 

 

(11,110

)

 

 

(34,091

)

 

 

(32,013

)

Net cash settlement of options

 

 

 

 

 

 

 

 

(4,521

)

 

 

 

Common stock acquired and canceled

 

 

(11,451

)

 

 

 

 

 

(11,451

)

 

 

(3,039

)

Balance at end of period

 

$

950,560

 

 

$

846,934

 

 

$

950,560

 

 

$

846,934

 

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized (losses)/gains on securities:

 

 

 

 

 

 

 

 

 

 

 

 

Balance at beginning of period

 

$

5,417

 

 

$