Company: BANFP
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-030159
Chunk: 102

Company: BANCFIRST CORP /OK/
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 102
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728,000 in 2023 and $4.2 million in 2022. During 2024, the Company wrote down property held in other real estate owned for a total of $4.0 million compared to write downs of $5.2 million in 2023 and $3.7 million in 2022.The Company charges interest on principal balances outstanding on modified loans during deferral periods. The current and future financial effects of the recorded balance of loans considered to be modified during the period were not considered to be material. The recorded balance of loans modified during the year ended December 31, 2024 was approximately $14.8 million compared to $5.3 million during the year ended December 31, 2023.Nonaccrual loansThe Company did not recognize any interest income on nonaccrual loans for any of the years ended December 31, 2024, 2023 or 2022. In addition, loans identified as nonaccrual loans have related allowances for credit losses at December 31, 2024 and December 31, 2023, respectively. Had nonaccrual loans performed in accordance with their original contractual terms, the Company would have recognized additional interest income of $3.5 million in 2024, $1.6 million in 2023 and $1.3 million in 2022.  Nonaccrual loans guaranteed by government agencies totaled $9.0 million at December 31, 2024 and $6.7 million at December 31, 2023.

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The following table is a summary of amounts included in nonaccrual loans, segregated by portfolio segment. 

        December 31, 2024

        December 31, 2023

        (Dollars in thousands)

        Real estate:

        Commercial real estate owner occupied
         
        $
        7,957

        $
        1,686

        Commercial real estate non-owner occupied

        8,913

        874

        Construction and development < 60 months

        20,445

        800

        Construction residential real estate < 60 months

        1,481

        638

        Residential real estate first lien

        5,193

        3,336

        Residential real estate all other

        653

        899

        Agriculture

        2,047

        3,662

        Commercial