Company: BANFP
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-030159
Chunk: 101

Company: BANCFIRST CORP /OK/
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 101
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. Agricultural. This category includes loans secured by all land known to be used or usable for agricultural purposes, such as crop and livestock production.  Commercial non-real estate. Commercial non-real estate represents loans for working capital, facilities acquisition or expansion, purchase of equipment and other needs of commercial customers primarily located within Oklahoma. Loans in this category include commercial and industrial and state and political subdivisions.Consumer non-real estate. Consumer loans are loans to individuals for household, family and other personal expenditures. Commonly, such loans are made to finance purchases of consumer goods, such as automobiles, boats, household goods, vacations and education. Oil and gas. Oil and gas loans represent loans for producing oil and gas properties and any other mineral interests that may be pumped, mined, quarried or otherwise extracted from the earth. These loans also include upstream and midstream energy loans, and loans to companies that provide ancillary services to the energy industry, such as transportation, wellsite preparation contractors and equipment manufacturers. 

 67 

Other Real Estate Owned and Repossessed Assets and Loan Modifications The following is a summary of other real estate owned and repossessed assets:  

        December 31,

        2024

        2023

        (Dollars in thousands)

        Other real estate owned and repossessed assets
         
        $
        33,665

        $
        34,200

      As of both December 31, 2024 and December 31, 2023, other real estate owned included a larger commercial real estate property recorded at approximately $28.1 million and $29.4 million, respectively. Rental income for this property is included in other noninterest income on the consolidated statements of comprehensive income. Operating expense for this property is included in net expense from other real estate owned in other noninterest expense on the consolidated statements of comprehensive income.This property had the following rental income and operating expenses for the periods presented. 

        For The YearEnded December 31,

        2024

        2023

        2022

        (Dollars in thousands)

        Rental income
         
        $
        12,148

        $
        11,224

        $
        10,340

        Operating expense

        10,078

        10,868

        9,863

      During 2024, the Company sold property held in other real estate owned for a total gain of $1.5 million compared to total gains of $