Company: BANFP
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-030159
Chunk: 52

Company: BANCFIRST CORP /OK/
Filing Date: 2025-02-28
Form: 10-K
Item: Item 7
Chunk 52
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non-GAAP)
     
    $
    1,425,766

    $
    1,234,924

    Common shares outstanding

    33,216,519

    32,933,018

    Tangible book value per share (non-GAAP)
     
    $
    42.92

    $
    37.50

    Selected Financial Ratios

    Balance Sheet Ratios:

    Average loans to deposits

    71.50
    %

    68.87
    %

    Average earning assets to total assets

    92.91

    92.93

    Average stockholders’ equity to average assets

    11.78

    11.03

    Asset Quality Ratios:

    Nonaccrual loans to total loans

    0.72
    %

    0.32
    %

    Allowance for credit losses to total loans

    1.24

    1.26

    Allowance for credit losses to nonaccrual loans

    171.59

    393.92

    Net charge-offs to average loans

    0.08

    0.05

    (1) Refer to the "Reconciliation of Tangible Book Value per Common Share (non-GAAP)" Table

    (2) Tangible book value per common share is stockholders' equity less goodwill and intangible assets, net, divided by common shares outstanding.

    This amount is a non-GAAP financial measure but has been included as it is considered to be a critical metric with which to analyze and evaluate

    the financial condition and capital strength of the Company. This measure should not be considered a substitute for operating results determined in accordance with GAAP.

Cash, Federal Funds Sold and Interest-Bearing Deposits with Banks 

Cash consists of cash and cash items on hand, noninterest-bearing deposits and amounts due from other banks, reserves deposited with the Federal Reserve Bank, and interest-bearing deposits with other banks. Federal funds sold consist of overnight investments of excess funds with other financial institutions. The Company has continued to maintain the majority of its excess funds with the Federal Reserve Bank. The Federal Reserve Bank pays interest on these funds based upon the lowest target rate for the maintenance period, which decreased during the last four months of 2024 from 5.40% to 4.40%. The rate increased from 4.50% to 5.50% during 202