Company: BANFP
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-030159
Chunk: 231

Company: BANCFIRST CORP /OK/
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1B
Chunk 231
---
 a Master Tenant partnership in order to receive the HTCs. Contributions are made to the Master Tenant as needed to complete the project. State HTCs are recognized in full in the year construction is completed. Federal HTCs are allocated over a five-year period once construction is completed. The investments are amortized through tax expense using the proportional amortization method as related tax credits are utilized. The Company does not consolidate these Master Tenant partnerships as variable interest entities due to the control the managing member of the partnership has over the entity.   Total HTC investments were $6.3 million and zero at December 31, 2024 and 2023, respectively, and are included in other assets on the consolidated balance sheet. The Company recognized no tax credits and had no amortization related to HTCs in 2024, 2023, and 2022. Unfunded commitments to these investments as of December 31, 2024 totaled $5.1 million. 

(7) INTANGIBLE ASSETS AND GOODWILL The following is a summary of intangible assets:  

        GrossCarryingAmount

        AccumulatedAmortization

        NetCarryingAmount

        (Dollars in thousands)

        As of December 31, 2024

        Core deposit intangibles
         
        $
        33,550

        $
        (20,454
        )
         
        $
        13,096

        Customer relationship intangibles

        3,350

        (3,288
        )

        62

        Total
         
        $
        36,900

        $
        (23,742
        )
         
        $
        13,158

        As of December 31, 2023

        Core deposit intangibles
         
        $
        33,550

        $
        (17,027
        )
         
        $
        16,523

        Customer relationship intangibles

        3,350

        (3,169
        )

        181

        Total
         
        $
        36,900

        $
        (20,196
        )
         
        $
        16,704

       Estimated amortization of intangible assets for the next five years, as of December 31, 2024, is as follows (dollars in thousands):  

        Estimated Amortization

        2025
         
        $