Company: BANFP
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-030159
Chunk: 122

Company: BANCFIRST CORP /OK/
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 122
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Rental expense on all operating leases, including those rented on a monthly or temporary basis were as follows (Dollars in thousands): 

        Year Ending December 31:

        2024
         
        $
        2,297

        2023

        2,066

        2022

        1,865

        A right of use lease asset included in accrued interest receivable and other assets on the consolidated balance sheet totaled $8.0 million at December 31, 2024 compared to $5.9 million at December 31, 2023, and a related lease liability included in accrued interest payable and other liabilities on the consolidated balance sheet totaled $8.0 million at December 31, 2024 compared to $5.8 million at December 31, 2023. As of December 31, 2024, our operating leases have a weighted-average remaining lease term of 3.0 years and a weighted-average discount rate of 3.0 percent. Maturity of Operating Lease Liabilities The following table presents minimum future commitments by year for the Company’s operating leases. Such commitments are reflected as undiscounted values and are reconciled to the discounted present value recognized on the consolidated balance sheet. 

        December 31, 2024

        (Dollars in thousands)

        2025
         
        $
        2,035

        2026

        1,622

        2027

        1,397

        2028

        871

        2029

        557

        Thereafter

        2,477

        Total lease payments

        8,959

        Less imputed interest

        (934
        )

        Operating lease liability
         
        $
        8,025

       Lessor The Company is a lessor of operating leases, which primarily consist of office space in buildings and parking lots. These assets are classified on the consolidated balance sheet as premises and equipment. The Company had operating lease revenue of $5.7 million, 

 93 

$5.9 million and $5.4 million for the years ended December 31, 2024, 2023 and 2022, respectively. Lease revenue is included in occupancy, net on the consolidated statements of comprehensive income. Future Minimum Lease Payments to be receivedThe Company does not have operating leases that extend beyond