BancFirst reports Q4 EPS $1.68 vs. $1.46 last year

The company’s net interest income for the fourth quarter of 2024 increased to $115.9M compared to $105.1M for the same period in 2023. Increased loan volume was the primary driver of the change in net interest income, but was partially offset by the impact of the shifting mix between interest-bearing and noninterest-bearing deposits. Net interest margin for the quarter ended December 31 was 3.68% in 2024 compared to 3.67% in 2023. In the fourth quarter of 2024, the company reversed $1.4M of allowance for credit losses resulting in a nominal decrease in the allowance as a percentage of loans when compared to a year ago and no change from prior quarter. BancFirst (BANF) Corporation CEO David Harlow commented, “The company reported record net income and record earnings per share for the fourth consecutive year. Loan growth was the primary driver of improved results in 2024 when compared to last year while asset quality remained strong. The return of deposit growth was encouraging albeit entirely in the interest bearing and time segments. Our outlook for 2025 is positive overall as the economy in our region of the country continues to perform well.”