Segment Information

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Segment Information

(11) 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 Arlington, Fort Worth and Denton Texas. 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)
Three Months Ended June 30, 2024
Net interest income	$	29,139	$	61,710	$	11,363	$	4,462	$	1,103	$	2,119	$	—		$	109,896
Noninterest income		5,562		16,886		339		250		13,513		58,064		(50,670	)		43,944
Income before taxes		21,209		42,267		6,112		744		4,139		41,225		(50,530	)		65,166
Three Months Ended June 30, 2023
Net interest income	$	29,269	$	57,617	$	13,509	$	4,123	$	1,058	$	350	$	—		$	105,926
Noninterest income		7,090		19,986		467		255		12,350		63,688		(55,862	)		47,974
Income before taxes		21,588		43,184		9,857		791		4,298		45,925		(55,677	)		69,966
Six Months Ended June 30, 2024
Net interest income	$	57,332	$	121,721	$	22,230	$	8,851	$	2,122	$	3,744	$	—		$	216,000
Noninterest income		10,731		32,804		659		471		28,676		116,492		(100,989	)		88,844
Income before taxes		43,540		81,059		9,257		1,413		10,474		84,296		(100,663	)		129,376
Six Months Ended June 30, 2023
Net interest income	$	60,008	$	115,302	$	28,660	$	8,747	$	2,000	$	365	$	—		$	215,082
Noninterest income		13,177		39,518		681		534		26,522		129,831		(114,461	)		95,802
Income before taxes		44,898		86,783		19,501		2,421		10,462		94,342		(114,096	)		144,311
Total Assets:
June 30, 2024	$	3,365,250	$	7,489,606	$	1,360,612	$	622,902	$	121,308	$	1,392,169	$	(1,614,529	)	$	12,737,318
December 31, 2023		3,598,888		7,012,905		1,280,618		600,364		121,601		1,307,714		(1,550,048	)		12,372,042

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.