Company: BANFP
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-030159
Chunk: 55

Company: BANCFIRST CORP /OK/
Filing Date: 2025-02-28
Form: 10-K
Item: Item 7
Chunk 55
---
 100.0
    %

    Total debt securities
     
    $
    330,691

    1.57
    %
     
    $
    856,678

    2.47
    %
     
    $
    19,143

    4.42
    %
     
    $
    5,242

    3.29
    %
     
    $
    1,211,754

    2.26
    %

    Percentage of total

    27.3
    %

    70.7
    %

    1.6
    %

    0.4
    %

    100.0
    %

    * Yield is on a taxable-equivalent basis using a 21% tax rate.

 39 

Loans

The Company has historically generated loan growth from both internal originations and bank acquisitions. Total loans held for investment increased $368.5 million, or 4.8% in 2024, as a result of internal loan growth. Of the total increase in loans, residential real estate loans made up the largest increase with $203.3 million, or 55.2% of the increase, construction and development loans increased $114.0 million, or 30.9%, and commercial non-real estate loans increasing $74.0 million, or 20.1%. Oil and gas loans decreased $76.8 million or 20.8% in 2024. The preponderance of internal loan growth was from the Company's Oklahoma subsidiary BancFirst. 

Composition 

The Company’s loan portfolio was diversified among various types of commercial and individual borrowers. Commercial loans were comprised principally of loans to companies in real estate, light manufacturing, retail and service industries. Consumer non-real estate loans were comprised primarily of loans to individuals for automobiles. 

LOANS HELD FOR INVESTMENT BY CATEGORY

    December 31,

    2024

    2023

    Amount

    % ofTotal

    Amount

    % ofTotal

    (Dollars in thousands)

    Real estate:

    Commercial real estate owner occupied
     
    $
    931,709

    11.61
    %
     
    $
    960,944

    12.55
    %

    Commercial real estate non-owner occupied

    1,578,483

    19.67

    1,486,420