Segment Information

12 Months Ended

Dec. 31, 2022

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 metropolitan banks, community banks, Pegasus, Worthington, other financial services and executive, operations and support. Metropolitan banks, community banks, Pegasus and Worthington offer traditional banking products such as commercial and retail lending and a full line of deposit accounts. Metropolitan banks consist of banking locations in the metropolitan Oklahoma City and Tulsa areas. Community banks consist of banking locations in communities

throughout Oklahoma. Pegasus consists of banking locations in the Dallas metropolitan area. Worthington consists of banking locations in the Fort Worth 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, 2022
Net interest income	$	97,728		$	208,728		$	46,439	$	14,919		$	8,065		$	(2,226	)	$	20		$	373,673
Provision for/(benefit from) 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
(Benefit from)/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
December 31, 2020
Net interest income	$	85,464		$	175,757		$	21,360	$	—		$	23,500		$	79		$	508		$	306,668
Provision for credit losses		30,202			29,827			1,916		—			562			141			—			62,648
Noninterest income		18,664			60,386			1,071		—			41,549			118,491			(102,939	)		137,222
Depreciation and amortization		2,639			10,603			760		—			500			3,922			—			18,424
Other expenses		36,746			111,341			13,831		—			44,918			33,588			(1,118	)		239,306
Income before taxes	$	34,541		$	84,372		$	5,924	$	—		$	19,069		$	80,919		$	(101,313	)	$	123,512
Total assets	$	2,729,886		$	5,527,611		$	919,572	$	—		$	137,122		$	1,073,507		$	(1,175,341	)	$	9,212,357
Capital expenditures	$	1,087		$	9,946		$	1,775	$	—		$	450		$	53,188		$	—		$	66,446

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.