Segment Information

9 Months Ended

Sep. 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 September 30, 2023
Net interest income	$	30,258	$	56,644	$	11,334	$	4,160	$	1,063	$	849		$	—		$	104,308
Noninterest income		5,533		15,986		561		301		14,542		59,923			(52,397	)		44,449
Income before taxes		22,043		38,985		6,559		693		5,541		43,282			(51,873	)		65,230
Three Months Ended September 30, 2022
Net interest income	$	26,022	$	55,782	$	13,815	$	4,723	$	1,604	$	(999	)	$	—		$	100,947
Noninterest income		8,722		18,764		246		305		14,106		62,969			(55,781	)		49,331
Income before taxes		22,827		41,179		8,178		2,109		6,222		43,180			(55,358	)		68,337
Nine Months Ended September 30, 2023
Net interest income	$	90,266	$	171,946	$	39,994	$	12,907	$	3,063	$	1,214		$	—		$	319,390
Noninterest income		18,710		55,504		1,242		835		41,064		189,754			(166,858	)		140,251
Income before taxes		66,941		125,768		26,060		3,114		16,003		137,624			(165,969	)		209,541
Nine Months Ended September 30, 2022
Net interest income	$	67,592	$	149,965	$	31,399	$	10,160	$	6,596	$	(2,411	)	$	20		$	263,321
Noninterest income		23,999		53,761		730		724		37,842		158,299			(139,776	)		135,579
Income before taxes		56,140		108,980		15,677		3,930		16,910		104,729			(139,073	)		167,293
Total Assets:
September 30, 2023	$	3,533,334	$	6,929,256	$	1,308,938	$	574,929	$	62,118	$	1,212,338		$	(1,506,311	)	$	12,114,602
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