BancFirst profit rises to $67.254 million, beating analyst estimates
Key Facts
BancFirst's net income rose to $67.254 million in the third quarter of 2026, according to the company's earnings statement released on October 21 after the market close, with earnings per share beating analyst estimates. The company reported net income of $62.654 million in the corresponding quarter of 2025, showing an increase in profit from the same period a year earlier. Profit also rose from $66.687 million in the second quarter of 2026. Diluted earnings per share were $1.97, compared with analyst estimates of $1.94, according to figures cited by Investing.com in its earnings coverage. Earnings per share thus exceeded estimates by $0.03 during the quarter. Quarterly revenue, however, was $187.39 million, below the consensus forecast of $187.68 million, pairing the earnings beat with revenue below analyst estimates.
BancFirst is an Oklahoma-based financial holding company whose shares trade on Nasdaq under the ticker BANF, according to its investor relations page. Investing.com's report published on the evening of the earnings announcement cited a closing share price of $109.73 on October 21, 2026. Alongside BancFirst, the group includes Dallas-based Pegasus Bank, according to the Federal Reserve's decision on the SpiritBank acquisition. Its banking operations also include Worthington Bank in Arlington, within the same group. Both banks operate exclusively in Texas, while BancFirst's banking operations are confined to Oklahoma, according to the Federal Reserve's description of the geographic footprint of the group's subsidiary banks.
As background to the quarterly performance, BancFirst's net interest margin was 3.84% in the second quarter of 2026, according to the earnings disclosure for that period filed with the U.S. Securities and Exchange Commission. The disclosure compared that level with a margin of 3.75% in the second quarter of 2025. In the second-quarter earnings statement published in July, Chief Executive David Harlow expressed a cautious view of the economy. Harlow said at the time, "Our economic outlook remains cautious," commenting on the company's operating conditions during that period. He added in the same statement that "loan charge-offs remain at historically low levels," combining economic caution with a description of the charge-off levels recorded at the time.
On expansion, the Federal Reserve announced in September that it had approved BancFirst's acquisition of Spirit BankCorp, according to its approval statement. The approval also covered the merger of SpiritBank into BancFirst and the operation of its branches within the acquiring bank. BancFirst announced the acquisition agreement in June 2026 and outlined the target bank's business size in the agreement disclosure. SpiritBank had total assets of about $939.6 million when the agreement was announced, according to figures provided by the company in that disclosure. Its loan portfolio stood at $618.4 million during the period covered by the deal announcement. Its deposits reached $847.2 million, according to the balance sheet BancFirst presented for the bank it planned to acquire.
In its approval decision issued in September 2026, the Federal Reserve estimated that the group's combined total assets would reach about $15.9 billion after the acquisition was completed. It also estimated that BancFirst would control combined deposits of about $13.7 billion after the deal closed. These estimates concern the group's size after the addition of SpiritBank, including the assets and deposits of the merged entity. As for completion timing, the original agreement announcement set the fourth quarter of 2026 as the expected closing date. That timing appeared in the company's disclosure when the agreement was announced as the expected schedule for completing the acquisition.