Company: BANFP
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-030159
Chunk: 53

Company: BANCFIRST CORP /OK/
Filing Date: 2025-02-28
Form: 10-K
Item: Item 7
Chunk 53
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3.  

 37 

The amount of cash, federal funds sold and interest-bearing deposits with the Federal Reserve Bank carried by the Company is a function of the availability of funds presented to other institutions for clearing and the Company’s liquidity and interest rate sensitivity management. Balances of these items can fluctuate widely based on these various factors. The aggregate of cash and due from banks, federal funds sold and interest-bearing deposits with banks increased by $1.2 billion, or 48.2%, to $3.6 billion, from December 31, 2023 to December 31, 2024. The increase was related to an increase of interest-bearing deposits in addition to maturing securities. 

Securities 

For the year ended December 31, 2024, total debt securities decreased $343.3 million. Debt securities available for sale represented 99.9% of the total debt securities portfolio at both December 31, 2024 and December 31, 2023. Debt securities available for sale had a net unrealized loss, before taxes, of $43.1 million at December 31, 2024, compared to $65.5 million at December 31, 2023. These unrealized losses, net of income taxes, of $32.9 million at December 31, 2024 and $50.0 million at December 31, 2023 are included in the Company’s stockholders’ equity as accumulated other comprehensive loss. The Company did not recognize a gain or loss on debt securities during the years ended December 31, 2024 or 2023. The Company purchased a total of $375.4 million of debt securities in 2024 compared to $454.0 million of debt securities in 2023. In addition, the Company had maturities and paydowns of debt securities totaling $742.3 million in 2024 and $469.0 million in 2023.

The Company does not engage in securities trading activities. Any sales of debt securities are for the purpose of executing the Company’s asset/liability management strategy, eliminating a perceived credit risk in a specific security, or providing liquidity. Debt securities that are being held for indefinite periods of time, or that may be sold as part of the Company’s asset/liability management strategy, to provide liquidity, or for other reasons, are classified as available for sale and are stated at estimated fair value. Unrealized gains or losses on debt securities available for sale are reported as a