Company: BANFP
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-030159
Chunk: 105

Company: BANCFIRST CORP /OK/
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 105
---
        36

        —

        60

         Agriculture

        Current-period gross charge-offs

        —

        154

        9

        317

        14

        2

        —

        496

         Commercial non-real estate

        Current-period gross charge-offs

        390

        351

        111

        22

        51

        160

        —

        1,085

         Consumer non-real estate

        Current-period gross charge-offs

        312

        632

        261

        45

        41

        40

        19

        1,350

         Oil and gas

        Current-period gross charge-offs

        57

        2

        —

        —

        —

        —

        —

        59

        Total current-period gross charge-offs
         
        $
        933

        $
        1,436

        $
        517

        $
        633

        $
        277

        $
        425

        $
        19

        $
        4,240

 74 

 Allowance for Credit Losses Methodology  The Company determines its provision for credit losses and allowance for credit losses using the current expected credit loss methodology that is referred to as the current expected credit loss ("CECL") model. The allowance for credit losses is measured on a collective (pool) basis when similar risk characteristics exist. The Company elected to utilize a methodology known as vintage loss analysis for BancFirst, Pegasus, and Worthington. Vintage loss analysis measures impairment based on the age of the accounts and the historical asset performance of assets with similar risk characteristics. Vintage loss analysis determines expected losses by allowing the Company to calculate the cumulative loss rates of a given loan pool and, in so doing, determine the loan pool’s lifetime expected loss experience relative to the appropriate type of financial assets that share similar risk characteristics. Vintage loss analysis uses different “vintages” analyzed by year of origination through the weighted average maturity of each loan pool. The key quantitative inputs used in the Company’s estimate of the allowance for credit losses include 1) all available loan data tracked by year of origination, 2) total charge-offs for each specific loan pool recorded since year of origination, 3) recovery rate calculated by the average recovery over the previous seven years across all loan pools, and 4) a weighting