Segment Information

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Segment Information

(23) SEGMENT INFORMATION

The Company evaluates its performance with an internal profitability measurement system that measures the profitability of its business units on a pre-tax basis. The six principal business units are BancFirst metropolitan banks, BancFirst community banks, Pegasus, Worthington, other financial services and executive, operations and support. BancFirst metropolitan banks, BancFirst community banks, Pegasus and Worthington offer traditional banking products such as commercial and retail lending and a full line of deposit accounts. BancFirst metropolitan banks consist of banking locations in the metropolitan Oklahoma City and Tulsa areas. BancFirst community banks consist of banking locations in communities in Oklahoma outside the Oklahoma City and Tulsa metropolitan areas. Pegasus consists of banking locations in the Dallas metropolitan area. Worthington consists of banking locations in the Dallas-Fort Worth-Arlington metropolitan area. 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 that are not allocated to the other business units.

The results of operations and selected financial information for the six business units are as follows:

	BancFirst Metropolitan Banks			BancFirst Community Banks			Pegasus			Worthington			Other Financial Services			Executive, Operations & Support			Eliminations			Consolidated
	(Dollars in thousands)
December 31, 2023
Net interest income	$	120,226		$	229,196		$	51,277		$	17,395		$	4,164		$	2,198		$	—		$	424,456
Provision for/(benefit    from) credit losses		4,836			2,331			(328	)		564			79			(24	)		—			7,458
Noninterest income		24,793			70,824			1,646			1,170			52,711			250,968			(216,704	)		185,408
Depreciation and    amortization		2,347			10,514			804			496			481			7,547			—			22,189
Other expenses		46,329			123,554			20,084			13,636			37,495			70,293			(1,122	)		310,269
Income before taxes	$	91,507		$	163,621		$	32,363		$	3,869		$	18,820		$	175,350		$	(215,582	)	$	269,948
Total assets	$	3,598,888		$	7,012,905		$	1,280,618		$	600,364		$	121,601		$	1,307,714		$	(1,550,048	)	$	12,372,042
Capital expenditures	$	2,752		$	5,156		$	528		$	5,497		$	108		$	8,463		$	—		$	22,504
December 31, 2022
Net interest income	$	97,728		$	208,728		$	46,439		$	14,919		$	8,065		$	(2,226	)	$	20		$	373,673
(Benefit from)/provision    for credit losses		2,186			2,451			2,840			(43	)		(161	)		2,803			—			10,076
Noninterest income		32,756			72,385			1,026			1,034			50,643			223,844			(197,941	)		183,747
Depreciation and    amortization		2,821			10,453			789			398			519			7,068			—			22,048
Other expenses		42,583			117,248			19,013			9,280			36,271			64,325			(856	)		287,864
Income before taxes	$	82,894		$	150,961		$	24,823		$	6,318		$	22,079		$	147,422		$	(197,065	)	$	237,432
Total assets	$	3,412,369		$	6,886,066		$	1,404,033		$	541,002		$	171,679		$	1,473,443		$	(1,500,729	)	$	12,387,863
Capital expenditures	$	2,026		$	10,146		$	311		$	262		$	67		$	6,973		$	—		$	19,785
December 31, 2021
Net interest income	$	77,840		$	180,925		$	24,222		$	—		$	35,244		$	(3,295	)	$	721		$	315,657
Provision for credit losses		(5,474	)		(4,694	)		1,395			—			109			(26	)		—			(8,690	)
Noninterest income		23,257			65,600			1,448			—			47,124			203,005			(170,402	)		170,032
Depreciation and    amortization		2,593			10,483			782			—			557			5,626			—			20,041
Other expenses		39,356			110,574			15,317			—			60,435			41,199			(941	)		265,940
Income before taxes	$	64,622		$	130,162		$	8,176		$	—		$	21,267		$	152,911		$	(168,740	)	$	208,398
Total assets	$	2,627,874		$	5,821,220		$	1,045,699		$	—		$	71,694		$	1,201,974		$	(1,362,849	)	$	9,405,612
Capital expenditures	$	1,612		$	7,390		$	363		$	—		$	400		$	17,486		$	—		$	27,251

The financial information for each business unit is presented on the basis used internally by management to evaluate performance and allocate resources. The Company utilizes a transfer pricing system to allocate the benefit or cost of funds provided or used by the various business units. Certain services provided by the support group to other business units, such as item processing, are allocated at rates approximating the cost of providing the services. Eliminations are adjustments to consolidate the business units and companies. Capital expenditures are generally charged to the business unit using the asset.