BancFirst Corporation (NASDAQ GS:BANF) has reported its third-quarter earnings for 2025, revealing a net income of $62.7 million, or $1.85 per diluted share, compared to the previous year's $58.9 million, or $1.75 per diluted share.
Net interest income for the three-month period ending September 30, 2025, increased to $125.6 million from $115.0 million for the same period in 2024. This growth was primarily driven by higher loan volume and a general increase in earning assets. Additionally, the net interest margin saw a slight improvement, rising to 3.79% from 3.78% in the third quarter of 2024.
The provision for credit losses on loans also saw an increase, rising to $4.2 million in the third quarter of 2025 from $3.0 million for the same period in 2024.
Noninterest income for the quarter reached $49.9 million, up from $48.7 million in the previous year. This growth was attributed to increases in trust revenue, treasury income, sweep fees, and securities transactions.
However, noninterest expense grew to $92.1 million for the quarter-ended September 30, 2025, compared to $86.7 million in the same quarter in 2024. The increase was primarily due to higher salaries and employee benefits, as well as increased occupancy expenses and other noninterest expenses driven by professional fees.
At September 30, 2025, BancFirst Corporation's total assets were $14.2 billion, marking an increase of $643.8 million from December 31, 2024. Loans grew by $254.0 million, totaling $8.3 billion at September 30, 2025, while deposits reached $12.1 billion, an increase of $399.8 million from year-end 2024.
Off-balance sheet sweep accounts totaled $4.9 billion at September 30, 2025, down $316.4 million from December 31, 2024. The company's total stockholders' equity was $1.8 billion, reflecting an increase of $161.6 million from the end of 2024.
In terms of asset quality, nonaccrual loans totaled $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. Additionally, net charge-offs amounted to $1.7 million for the quarter, compared to $775,000 for the third quarter of the previous year.
BancFirst Corporation CEO David Harlow commented on the results, noting that loan growth and a sustained net interest margin led to another strong quarter for the company. Harlow also mentioned that the company's outlook remains cautious, maintaining a healthy allowance for credit losses as a percentage of loans.
BancFirst Corporation, an Oklahoma-based financial services holding company, operates three subsidiary banks and serves numerous communities across Oklahoma and the Dallas-Fort Worth metroplex area in Texas. The market has reacted to these announcements by moving the company's shares -1.53% to a price of $112.93. If you want to know more, read the company's complete 8-K report here.
