Company: BANFP
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-030159
Chunk: 128

Company: BANCFIRST CORP /OK/
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 128
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        3,489

        3,489

        Level 3 inputs:

        Debt securities held for investment

        835

        835

        1,185

        1,185

        Loans held for investment, net of allowance for credit losses

        7,925,613

        8,643,418

        7,559,845

        7,356,768

        FINANCIAL LIABILITIES

        Level 2 inputs:

        Deposits

        11,718,546

        10,966,958

        10,700,122

        10,413,348

        Short-term borrowings

        —

        —

        3,351

        3,351

        Subordinated debt

        86,157

        77,998

        86,101

        79,271

        OFF-BALANCE SHEET FINANCIAL INSTRUMENTS

        Loan commitments

        4,313

        4,875

        Letters of credit

        769

        637

       Non-financial Assets and Non-financial Liabilities Measured at Fair Value The Company has no non-financial assets or non-financial liabilities measured at fair value on a recurring basis. In addition, the Company has no non-financial liabilities measured at fair value on a nonrecurring basis. Non-financial assets measured at fair value on a nonrecurring basis include intangible assets. The intangible assets are evaluated at least annually for impairment. The overall levels of non-financial assets measured at fair value on a nonrecurring basis were not considered to be significant to the Company at December 31, 2024 or 2023. 

 98 

(22) DERIVATIVE FINANCIAL INSTRUMENTS The Company enters into oil and gas swaps and options contracts to accommodate the business needs of its customers. Upon the origination of an oil or gas swap or option contract with a customer, to mitigate the exposure to fluctuations in oil and gas prices, the Company simultaneously enters into an offsetting contract with a counterparty. These derivatives are not designated as hedged instruments and are recorded on the Company's consolidated balance sheet at fair value and are included in other assets. The Company's derivative financial instruments require a daily margin to be posted, which fluctuates with oil and gas prices.  At December 31, 2024, the