Company: BANFP
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-030159
Chunk: 96

Company: BANCFIRST CORP /OK/
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 96
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 loans, and assumed $10.8 million in deposits and other obligations, from RCB Bank's Stroud, Oklahoma branch. RCB Bank paid BancFirst $7.8 million as a result of this transaction. In addition, the Company recorded a core deposit intangible of $252,000 and goodwill of $209,000. The Company did not incur a material amount of purchase-related expenses. The effect of this purchase was included in the consolidated financial statement of the Company from the date of purchase forward. The purchase did not have a material effect on the Company's consolidated financial statements. The purchase of this branch strengthens BancFirst's presence in the Stroud, Oklahoma community.

(3) CASH, DUE FROM BANKS, INTEREST-BEARING DEPOSITS AND FEDERAL FUNDS SOLD The Company maintains accounts with the Federal Reserve Bank and various other financial institutions primarily for the purpose of holding excess liquidity and clearing cash items. It may also sell federal funds to certain of these institutions on an overnight basis. At December 31, 2024 and 2023, the Company had no significant concentrations of credit risk with other financial institutions. The Company maintained vault cash and funds on deposit with the Federal Reserve Bank, which is included in the following table:  

        December 31,

        2024

        2023

        (Dollars in thousands)

        Vault cash and funds on deposit with the Federal Reserve Bank
         
        $
        3,347,760

        $
        2,255,198

 62 

(4) SECURITIES The following table summarizes the amortized cost and estimated fair values of debt securities held for investment:  

        AmortizedCost

        GrossUnrealizedGains

        GrossUnrealizedLosses

        EstimatedFairValue

        (Dollars in thousands)

        December 31, 2024

        Mortgage backed securities (1)
         
        $
        2

        $
        —

        $
        —

        $
        2

        States and political subdivisions

        335

        —

        —

        335

        Other securities

        500

        —

        —

        500

        Total
         
        $
        837

        $
        —

        $
        —

        $
        837

        December 31, 2023

        Mortgage backed securities (1)
         
        $
        5

        $
        —

        $
        —