BancFirst Corporation (NASDAQ GS:BANF) has reported its third-quarter earnings, showing an increase in net income to $62.7 million, or $1.85 per diluted share, compared to $58.9 million, or $1.75 per diluted share, in the same period last year. The company's net interest income for the quarter ended September 30, 2025, increased to $125.6 million from $115.0 million for the same period in 2024, driven by higher loan volume and general growth in earning assets. The net interest margin improved slightly to 3.79% from 3.78% in the third quarter of 2024.
Noninterest income for the quarter totaled $49.9 million, compared to $48.7 million last year, with trust revenue, treasury income, sweep fees, and securities transactions all showing increases. However, noninterest expense grew to $92.1 million from $86.7 million in the same quarter in 2024, primarily due to growth in salaries and employee benefits of $3.5 million, along with increases in occupancy expense and other noninterest expenses.
The company's total assets were $14.2 billion at September 30, 2025, representing an increase of $643.8 million from December 31, 2024. Loans grew to $8.3 billion, an increase of $254.0 million from year-end 2024, while deposits totaled $12.1 billion, up by $399.8 million from the end of 2024. Off-balance sheet sweep accounts totaled $4.9 billion at September 30, 2025, down by $316.4 million from December 31, 2024. Total stockholders' equity was $1.8 billion, an increase of $161.6 million from the end of 2024.
Asset quality remained strong, with nonaccrual loans totaling $57.3 million, representing 0.69% of total loans at September 30, 2025, down from 0.72% at year-end 2024. The allowance for credit losses to total loans was 1.20% at September 30, 2025, down from 1.24% at December 31, 2024. Net charge-offs were $1.7 million for the quarter, compared to $775,000 for the third quarter last year.
CEO David Harlow remarked on the company's performance, noting that loan growth and a sustained net interest margin led to another strong quarter. He also mentioned that a mixed economic outlook has led the company to maintain a healthy allowance for credit losses as a percentage of loans.
BancFirst Corporation is an Oklahoma-based financial services holding company operating three subsidiary banks. As a result of these announcements, the company's shares have moved -6.53% on the market, and are now trading at a price of $114.68. If you want to know more, read the company's complete 8-K report here.
