Company: BANFP
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-030159
Chunk: 47

Company: BANCFIRST CORP /OK/
Filing Date: 2025-02-28
Form: 10-K
Item: Item 7
Chunk 47
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 expense

    347,164

    332,458

    309,912

    Net income

    216,354

    212,465

    193,100

    Per Common Share Data

    Net income – basic
     
    $
    6.55

    $
    6.45

    $
    5.89

    Net income – diluted

    6.44

    6.34

    5.77

    Cash dividends

    1.78

    1.66

    1.52

    Selected Financial Ratios

    Performance ratios:

    Return on average assets

    1.68
    %

    1.75
    %

    1.56
    %

    Return on average stockholders’ equity

    14.23

    15.89

    16.11

    Cash dividends payout ratio

    27.18

    25.74

    25.81

    Net interest spread

    2.29

    2.42

    2.93

    Net interest margin

    3.73

    3.79

    3.29

    Efficiency ratio

    54.98

    54.51

    55.60

Net Interest Income 

Net interest income, which is the Company’s principal source of operating revenue, increased $22.4 million in 2024. The primary driver of the increase in net interest income was higher interest rates and loan volume. Higher interest rates and increasing loan volume were partially offset by the expense associated with the increase in rates on interest-bearing deposits.

Changes in the volume of earning assets and interest-bearing liabilities and changes in interest rates, determine the changes in net interest income. The following volume/rate analysis summarizes the relative contribution of each of these components to the changes in net interest income in 2024 and 2023.  See “Maturity and Rate Sensitivity of Loans” for additional discussion.

 34 

VOLUME/RATE ANALYSIS 

Taxable Equivalent Basis 

    Change in 2024

    Change in 2023

    Total

    Due toVolume(1)

    Due toRate

    Total

    Due toVolume(1)

    Due toRate

    (Dollars in thousands)

    INCREASE (DECREASE)

    Interest Income:

    Loans