Segment Information

6 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

Segment Information

(12) 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 Dallas and Fort Worth metropolitan areas. 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, 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
Three Months Ended June 30, 2022
Net interest income	$	21,962	$	49,615	$	9,964	$	3,743	$	2,079	$	(505	)	$	9		$	86,867
Noninterest income		5,504		18,152		293		286		10,753		52,756			(45,146	)		42,598
Income before taxes		15,142		36,462		4,672		1,436		4,643		37,901			(45,009	)		55,247
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
Six Months Ended June 30, 2022
Net interest income	$	41,570	$	94,183	$	17,584	$	5,437	$	4,992	$	(1,412	)	$	20		$	162,374
Noninterest income		15,277		34,997		484		419		23,736		95,330			(83,995	)		86,248
Income before taxes		33,313		67,801		7,499		1,821		10,688		61,549			(83,715	)		98,956
Total Assets:
June 30, 2023	$	3,436,504	$	6,810,321	$	1,276,354	$	542,292	$	241,921	$	1,217,957		$	(1,505,084	)	$	12,020,265
December 31, 2022		3,412,369		6,886,066		1,404,033		541,002		171,679		1,473,443			(1,500,729	)		12,387,863

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.