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Mar 31, 2023
BancFirst Q1 2023 Earnings Report
BancFirst reported net income of $57.5 million, or $1.72 diluted earnings per share, for the first quarter of 2023.
Key Takeaways
BancFirst Corporation reported a strong first quarter with net income of $57.5 million, or $1.72 diluted earnings per share. Net interest income increased to $109.2 million, driven by rising short-term interest rates and loan growth. Asset quality remained strong, and the company is well-positioned to navigate industry challenges.
Net income for Q1 2023 was $57.5 million, or $1.72 diluted earnings per share.
Net interest income increased to $109.2 million due to rising short-term interest rates and loan growth.
Total assets were $12.3 billion, with loans totaling $7.1 billion and deposits totaling $10.6 billion.
Asset quality remained strong, with nonaccrual loans representing 0.25% of total loans.
BancFirst
BancFirst
BancFirst Revenue by Segment
Revenue by Segment
Trust Revenue
CapyFin.comService charges on deposits Revenue
CapyFin.comSales of loans Revenue
CapyFin.comInsurance commissions Revenue
CapyFin.comCash management Revenue
CapyFin.comOther income Revenue
CapyFin.com Forward Guidance
BancFirst is facing growing challenges including the possibility of a recession, but the Company feels it is well positioned to navigate these headwinds.
Positive Outlook
- Top-tier liquidity
- Community based deposits
- Strong capital
- Solid credit quality
- Continue to focus on and support our customers and the communities that we serve
Challenges Ahead
- Possibility of a recession
- Growing challenges in the industry
- Economic conditions
- Performance of financial markets and interest rates
- Legislative and regulatory actions and reforms