BancFirst Corporation, incorporated on July 12, 1984, is a financial holding company. The Company conducts its operating activities through its principal subsidiary, BancFirst (the Bank), a state-chartered bank. The Company has four business units, which include metropolitan banks, community banks, other financial services, and executive, operations and support. The metropolitan and community banks offer traditional banking products, such as commercial and retail lending, and a line of deposit accounts. The metropolitan banks consist of banking locations in the metropolitan Oklahoma City and Tulsa areas. The community banks consist of banking locations in communities throughout Oklahoma. Its other financial services are specialty product business units, including guaranteed small business lending, residential mortgage lending, trust services, securities brokerage, electronic banking and insurance. The executive, operations and support groups represent executive management, operational support and corporate functions.
The Bank provides a range of retail and commercial banking services, including commercial, real estate, agricultural and consumer lending; depository and funds transfer services; collections; safe deposit boxes; cash management services; retail brokerage services, and other services for both individual and corporate customers. The Bank also offers trust services and acts as executor, administrator, trustee, transfer agent and in various other fiduciary capacities. Through its Technology and Operations Center, the Bank provides item processing, research and other correspondent banking services to financial institutions and governmental units. The Bank's trust services offered through the Bank's Trust and Investment Management Division (the Trust Division) consist primarily of investment management and administration of trusts for individuals, corporations and employee benefit plans.
The Bank's primary lending activity is the financing of business and industry in its market areas. Its commercial loan customers are generally small to medium-sized businesses engaged in light manufacturing, local wholesale and retail trade, commercial and residential real estate development and construction, services, agriculture and the energy industry. It offers various forms of commercial lending, including commercial mortgages, other forms of asset-based financing and working capital lines of credit. In addition, the Bank offers small business administration (SBA) guaranteed loans through BancFirst Commercial Capital. The Bank's consumer lending activities consist of traditional forms of financing for automobiles, residential mortgage loans, home equity loans and other personal loans. Residential loans consist primarily of home loans in non-metropolitan areas. Consumer loans are loans to individuals for household, family, and other personal expenditures.
Lending Activity
The Bank's loan portfolio is diversified among various types of commercial and individual borrowers. The commercial loans consist principally of loans to companies in light manufacturing, retail and service industries. Consumer loans consist primarily of loans to individuals for automobiles. The commercial, financial and other loans represent loans for working capital, facilities acquisition or expansion, purchase of equipment and other needs of commercial customers primarily located within Oklahoma, and the loans in this category include commercial and industrial, oil and gas, agriculture, and state and political subdivisions. Real estate loans consist of loans for both commercial and consumer customers and include construction, farmland, one- to four-family residences, multifamily residential properties and commercial. These loans are made on real property, such as office buildings, apartment buildings, shopping centers, industrial property, hotels, farmland and residential property. Such loans are usually secured by mortgages or other liens on the related real property. Residential construction includes loans to builders for speculative or custom homes, as well as direct loans to individuals for construction of their personal residence. As of December 31, 2016, its total loans amounted to $4,400.23 million.
Investment Activity
The Bank's investment activities include securities held for investment and securities available for sale. The securities held for investment and available for sale include the United States Treasury, other federal agencies and mortgage-backed securities, and states and political subdivisions. As of December 31, 2016, its total securities amounted to $465.31 million.
Sources of Fund
The Bank's principal source of funding is its deposits. It offers a range of deposit services, including demand deposits, interest-bearing transaction deposits, checking accounts, negotiable order of withdrawal (NOW) accounts, savings accounts, money market accounts, sweep accounts, club accounts, individual retirement accounts and certificates of deposit. It also offers overdraft protection and auto draft services. Deposits of the Bank are insured by the Deposit Insurance Fund administered by the Federal Deposit Insurance Corporation (FDIC). As of December 31, 2016, its total deposits amounted to $6,016.71 million.
The Company's subsidiary, BancFirst Insurance Services, Inc., which is an independent insurance agency, offers a range of commercial and personal insurance products. In addition, the Company's subsidiary, Council Oak Partners, LLC is engaged in investing activities. The Bank's principal subsidiaries also include Council Oak Investment Corporation, a small business investment corporation; Council Oak Real Estate, Inc., a real estate investment company, and BancFirst Agency, Inc., a credit life insurance agency.
101 N Broadway Ste 200
The company trades on NASDAQ exchange. The company headquarter is located in Oklahoma, OK. The company was established in the 1984.| Ticker | BANF |
| Long Name | BancFirst Corporation |
| Short Name | BancFirst |