Company: BANFP
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-030159
Chunk: 159

Company: BANCFIRST CORP /OK/
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1B
Chunk 159
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 Factors that could cause actual results to differ from those discussed in the forward-looking statements include, but are not limited to:

•Potential impacts of the adverse developments in the banking industry driven by high-profile bank failures, including impacts on customer confidence, demand deposit outflows and the regulatory response thereto.

•Deterioration in the market for commercial office property could have an adverse effect on the value of the Company's other real estate owned as well as commercial office collateral for the Company's commercial real estate loans. 

•Political pressures could further limit our ability to charge NSF and overdraft fees. 

•Further shift in deposit mix from noninterest-bearing deposits to interest-bearing deposits could negatively impact net interest margin.

•Changes in interest rates.

•The increased time and effort related to ongoing and/or changed regulations from regulatory bodies could negatively impact noninterest expense.   

•Local, regional, national and international economic conditions and the impact they may have on the Company and its customers.

•Changes in the mix of loan sectors and types or the level of non-performing assets and charge-offs.

•Inflation, including wage inflation, energy prices, securities markets and monetary fluctuations.

•Impairment of the Company’s goodwill or other intangible assets.

•Changes in consumer spending, borrowing and savings habits.

•Changes in the financial performance and/or condition of the Company’s borrowers, including the impact of higher interest rates.

•Technological changes.

•Cyber threats.

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•The effect of changes in accounting policies and practices, as may be adopted by the regulatory agencies, as well as the Public Company Accounting Oversight Board, the Financial Accounting Standards Board and other accounting standard setters.

•The Company’s success at managing the risks involved in the foregoing items.

Actual results may differ materially from forward-looking statements. 

SUMMARY 

The Company’s net income for 2024 was $216.4 million, or $6.44 per diluted share, compared to $212.5 million, or $6.34 per diluted share for 2023.   

In 2024, net interest income increased to $446.9 million, compared to $424.5 million in 2023. The primary driver of the increase in net interest income was higher interest rates and loan volume. Higher interest rates and increasing loan volume were partially offset by the expense associated with the increase in rates on interest-bearing deposits. The Company’s net interest margin decreased to 3.73% for 2024, compared to 3.79% for 202