Company: BANFP
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-030159
Chunk: 51

Company: BANCFIRST CORP /OK/
Filing Date: 2025-02-28
Form: 10-K
Item: Item 7
Chunk 51
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ated depreciation charges or significantly understated current values of assets. Although inflation can have an indirect effect by leading to higher interest rates, financial institutions are in a position to monitor the effects on interest costs and yields and respond to inflationary trends through management of interest rate sensitivity. Inflation can also have an impact on noninterest expenses such as salaries and employee benefits, occupancy, services and other costs. 

Impact of Deflation 

In a period of deflation, it would be reasonable to expect widely decreasing prices for real assets. In such an economic environment, assets of businesses and individuals, such as real estate, commodities or inventory, could decline. The inability of customers to repay or refinance their loans could result in credit losses incurred by the Company far in excess of historical experience due to deflated collateral values.

 36 

FINANCIAL POSITION 

    BANCFIRST CORPORATION

    SELECTED CONSOLIDATED FINANCIAL DATA

    (Dollars in thousands, except per share data)

    At and for the Year Ended December 31,

    2024

    2023

    Balance Sheet Data

    Total assets
     
    $
    13,554,314

    $
    12,372,042

    Debt securities

    1,211,754

    1,555,095

    Total loans (net of unearned interest)

    8,033,183

    7,660,134

    Allowance for credit losses

    99,497

    96,800

    Deposits

    11,718,546

    10,700,122

    Subordinated debt

    86,157

    86,101

    Stockholders’ equity

    1,621,187

    1,433,891

    Book value per share

    48.81

    43.54

    Tangible book value per share (non-GAAP)(1)

    42.92

    37.50

    Reconciliation of Tangible Book Value per Common Share (non-GAAP)(2)

    Stockholders’ equity
     
    $
    1,621,187

    $
    1,433,891

    Less goodwill

    182,263

    182,263

    Less intangible assets, net

    13,158

    16,704

    Tangible stockholders' equity (