Stockholders' Equity

6 Months Ended

Jun. 30, 2025

Equity [Abstract]

Stockholders' Equity

(8) STOCKHOLDERS’ EQUITY

The Company has adopted a Stock Repurchase Program (the “SRP”). The SRP may be used as a means to increase earnings per share and return on equity. In addition, the SRP may be used to purchase treasury stock for the issuance of stock related to stock-based compensation plans, to provide liquidity for optionees to dispose of stock from exercises of their stock options and to provide liquidity for stockholders wishing to sell their stock. All shares repurchased under the SRP have been retired and not held as treasury stock. The

timing, price and amount of stock repurchases under the SRP is determined by management and approved by the Company’s Executive Committee.

The following table is a summary of the shares under the SRP:

	June 30, 2025
Shares remaining to be repurchased		479,784

BancFirst Corporation, BancFirst, Pegasus and Worthington are subject to risk-based capital guidelines issued by the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation (“FDIC”). These guidelines are used to evaluate capital adequacy and involve both quantitative and qualitative evaluations of assets, liabilities and certain off-balance-sheet items calculated under regulatory practices. Failure to meet the minimum capital requirements can initiate certain mandatory or discretionary actions by the regulatory agencies that could have a direct material effect on the Company’s consolidated financial statements. The Company believes that as of June 30, 2025, BancFirst Corporation, BancFirst, Pegasus and Worthington each met all capital adequacy requirements to which they are subject. The actual and required capital amounts and ratios are shown in the following table:

				Required						To Be Well
				For Capital			With			Capitalized Under
				Adequacy			Capital Conservation			Prompt Corrective
	Actual			Purposes			Buffer			Action Provisions
	Amount		Ratio	Amount		Ratio	Amount		Ratio	Amount		Ratio
	(Dollars in thousands)
As of June 30, 2025:
Total Capital
(to Risk Weighted Assets)-
BancFirst Corporation	$	1,734,570	19.62%	$	707,153	8.00%	$	928,138	10.50%	N/A		N/A
BancFirst		1,308,924	17.86%		586,412	8.00%		769,666	10.50%	$	733,015	10.00%
Pegasus		160,711	16.88%		76,179	8.00%		99,984	10.50%		95,223	10.00%
Worthington		58,917	12.10%		38,946	8.00%		51,116	10.50%		48,682	10.00%
Common Equity Tier 1 Capital
(to Risk Weighted Assets)-
BancFirst Corporation	$	1,551,928	17.56%	$	397,774	4.50%	$	618,759	7.00%	N/A		N/A
BancFirst		1,205,694	16.45%		329,857	4.50%		513,111	7.00%	$	476,460	6.50%
Pegasus		150,732	15.83%		42,850	4.50%		66,656	7.00%		61,895	6.50%
Worthington		54,365	11.17%		21,907	4.50%		34,078	7.00%		31,644	6.50%
Tier 1 Capital
(to Risk Weighted Assets)-
BancFirst Corporation	$	1,577,928	17.85%	$	530,365	6.00%	$	751,350	8.50%	N/A		N/A
BancFirst		1,225,694	16.72%		439,809	6.00%		623,063	8.50%	$	586,412	8.00%
Pegasus		150,732	15.83%		57,134	6.00%		80,940	8.50%		76,179	8.00%
Worthington		54,365	11.17%		29,209	6.00%		41,380	8.50%		38,946	8.00%
Tier 1 Capital
(to Quarterly Average Assets)-
BancFirst Corporation	$	1,577,928	11.43%	$	552,278	4.00%	N/A		N/A	N/A		N/A
BancFirst		1,225,694	10.46%		468,648	4.00%	N/A		N/A	$	585,810	5.00%
Pegasus		150,732	10.78%		55,925	4.00%	N/A		N/A		69,907	5.00%
Worthington		54,365	8.75%		24,865	4.00%	N/A		N/A		31,081	5.00%

As of June 30, 2025, BancFirst, Pegasus and Worthington were classified by the Federal Reserve as “well capitalized” under the prompt corrective action provisions. The Common Equity Tier 1 Capital of BancFirst Corporation, BancFirst, Pegasus and Worthington includes common stock and related paid-in capital and retained earnings. In connection with the adoption of the Basel III Capital Rules, the election was made to opt-out of the requirement to include most components of accumulated other comprehensive income in Common Equity Tier 1 Capital. Common Equity Tier 1 Capital for BancFirst Corporation, BancFirst, Pegasus and Worthington is reduced by goodwill and other intangible assets, net of associated deferred tax liabilities. The Company’s trust preferred securities qualify as Tier 1 capital and its Subordinated Notes qualify as Tier 2 capital. BancFirst, Pegasus and Worthington have had no events or conditions that management believes would materially change their category under capital requirements existing as of the report dates.