Company: BANFP
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-030159
Chunk: 97

Company: BANCFIRST CORP /OK/
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 97
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 1,253,968

        $
        1,210,917

        $
        1,619,420

        $
        1,553,905

         The following is a detail of proceeds from sales and the realized losses on available for sale debt securities: 

        Year Ended December 31,

        2024

        2023

        2022

        (Dollars in thousands)

        Proceeds
         
        $
        —

        $
        —

        $
        222,474

        Gross losses realized

        —

        —

        3,990

       In March 2022, the Company sold $226 million of debt securities with an average yield of 0.16%, the proceeds of which were subsequently reinvested in $220 million of debt securities with an average yield of 1.86%. The Company used specific identification to reclassify the unrealized loss in other comprehensive income to a realized loss, as shown in the consolidated statements of comprehensive income. There were no sales of securities and therefore no proceeds from sales or realized securities losses on available for sale debt securities for the years ended December 31, 2024 and 2023, respectively. Realized gains/losses on debt and equity securities are reported as securities transactions within the noninterest income section of the consolidated statements of comprehensive income. The following table is a summary of the Company’s book value of debt securities that were pledged as collateral for public funds on deposit, repurchase agreements and for other purposes as required or permitted by law:  

        December 31,

        2024

        2023

        (Dollars in thousands)

        Book value of pledged securities
         
        $
        918,523

        $
        591,324

 64 

The following table summarizes debt securities with unrealized losses, segregated by the duration of the unrealized loss, at December 31, 2024 and 2023 respectively:  

        Less than 12 Months

        More than 12 Months

        Total

        Number of investments

        EstimatedFair Value

        UnrealizedLosses

        EstimatedFair Value

        UnrealizedLosses

        EstimatedFair Value

        UnrealizedLosses

        (Dollars in thousands)

        December 31, 2024

        Available for Sale

        U.S. treasuries

        51

        $
        89,867