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Pay vs Performance Disclosure - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Pay vs Performance Disclosure        
Pay vs Performance Disclosure, Table

PAY VERSUS PERFORMANCE

 

The following table sets forth information required under the SEC's "pay versus performance" rules over the last four years, including: (i) the total compensation earned by our principal executive officer "PEO" (as reported on our Summary Compensation Table), (ii) the compensation “actually paid” to our PEO (calculated in accordance with Regulation S-K); (iii) the average of the total compensation earned by our other named executive officers "NEOs" (calculated based upon our Summary Compensation Table); (iv) the average compensation “actually paid” to our other NEOs (calculated in accordance with Regulation S-K); (v) our total shareholder return (TSR) compared to our peer group; (vi) our net income; and (vii) our diluted earnings per share (a selected performance measure):

 

 

 

 

 

 

 

 

 

 

 

Value of Initial Fixed $100 Investment Based On:

 

 

 

 

 

Year

 

Summary Compensation Table total for PEO David R. Harlow

 

Compensation Actually Paid to PEO (1)

 

Average Summary Compensation Table Total for other NEO's (2)

 

Average Compensation Actually Paid to other NEO's (1)(2)

 

Total Shareholder Return

 

Peer Group Total Shareholder Return (3)

 

Net Income (Dollars in thousands)

 

Diluted Earnings Per Share (4)

 

2023

 

$

921,902

 

$

1,117,506

 

$

648,062

 

$

699,813

 

$

170.28

 

$

106.87

 

$

212,465

 

 

6.34

 

2022

 

 

875,896

 

 

1,525,584

 

 

701,119

 

 

993,303

 

 

151.45

 

 

110.67

 

 

193,100

 

 

5.77

 

2021

 

 

796,734

 

 

1,055,367

 

 

557,195

 

 

671,370

 

 

119.14

 

 

132.19

 

 

167,630

 

 

5.03

 

2020

 

 

1,451,109

 

 

2,045,657

 

 

709,629

 

 

891,303

 

 

97.04

 

 

92.50

 

 

99,586

 

 

3.00

 

1. Compensation actually paid (CAP) represents the amount computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual amount of compensation earned or paid during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, adjustments were made to total compensation reported in our Summary Compensation Table. The reconciliation of the CAP is shown in the tables below.

 

David R. Harlow - PEO

 

Year

 

Summary Compensation Table Total

 

Deduct: Non-Qualified Deferred Compensation of Supplemental Executive Retirement Plan

 

Add: Service Cost of the Supplemental Executive Retirement Plan

 

Deduct: Option Awards

 

Add: Change in Value of Option Awards

 

Compensation Actually paid

 

2023

 

$

921,902

 

$

(56,297

)

$

27,760

 

$

 

$

224,141

 

$

1,117,506

 

2022

 

 

875,896

 

 

(51,465

)

 

26,147

 

 

 

 

675,006

 

 

1,525,584

 

2021

 

 

796,734

 

 

(47,006

)

 

24,628

 

 

 

 

281,011

 

 

1,055,367

 

2020

 

 

1,451,109

 

 

(42,889

)

 

23,197

 

 

(686,365

)

 

1,300,605

 

 

2,045,657

 

 

Average Other NEOs (2)

 

Year

 

Summary Compensation Table Total

 

Deduct: Non-Qualified Deferred Compensation of Supplemental Executive Retirement Plan

 

Add: Service Cost of the Supplemental Executive Retirement Plan

 

Deduct: Option Awards

 

Add: Change in Value of Option Awards

 

Compensation Actually paid

 

2023

 

$

648,062

 

$

(25,470

)

$

12,565

 

$

 

$

64,656

 

$

699,813

 

2022

 

 

701,119

 

 

(23,284

)

 

11,835

 

 

(88,037

)

 

391,670

 

 

993,303

 

2021

 

 

557,195

 

 

(21,266

)

 

11,148

 

 

 

 

124,293

 

 

671,370

 

2020

 

 

709,629

 

 

(19,403

)

 

10,500

 

 

(171,591

)

 

362,168

 

 

891,303

 

 

2. NEO's included in the average calculations are: Kevin Lawrence, Darryl W. Schmidt, David E. Rainbolt and Scott Copeland for all four years.

3. Peer Group Total Shareholder Return using the NASDAQ Bank Stocks (U.S.).

4. Diluted earnings per share was selected as the most important performance measurement for the current year other than net income which is also presented in the table.

     
Company Selected Measure Name Diluted earnings per share      
Named Executive Officers, Footnote

Information with respect to our executive officers (including certain executive officers of BancFirst, our principal subsidiary bank) as of March 28, 2024 is set forth below. Each officer serves a term of office of one year or until the election and qualification of his or her successor.

 

Name

 

Age

 

Executive Officer Since

 

Position

David E. Rainbolt

68

 

1984

 

Executive Chairman; BancFirst Corporation and BancFirst

David R. Harlow

61

 

1999

 

President and Chief Executive Officer, BancFirst Corporation

Darryl W. Schmidt

61

 

2002

 

President and Chief Executive Officer, BancFirst

Dennis L. Brand

76

 

1992

 

Vice Chairman

Scott Copeland

59

 

1992

 

Executive Vice President and Chief Operations Officer, BancFirst

Roy C. Ferguson

77

 

1992

 

Executive Vice President and Chief Credit Officer, BancFirst

Randy Foraker

68

 

1987

 

Executive Vice President, Chief Risk Officer and Secretary

Kelly Foster

55

 

1998

 

Executive Vice President and Chief Compliance Officer, BancFirst

D. Jay Hannah

68

 

1984

 

Executive Vice President of Financial Services, BancFirst

Kevin Lawrence

45

 

2013

 

Executive Vice President, Chief Financial Officer and Treasurer

Dara Wanzer

52

 

2017

 

Executive Vice President of Human Resources, BancFirst

     
Peer Group Issuers, Footnote

3. Peer Group Total Shareholder Return using the NASDAQ Bank Stocks (U.S.).

     
PEO Total Compensation Amount $ 921,902 $ 875,896 $ 796,734 $ 1,451,109
PEO Actually Paid Compensation Amount $ 1,117,506 1,525,584 1,055,367 2,045,657
Adjustment To PEO Compensation, Footnote

1. Compensation actually paid (CAP) represents the amount computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual amount of compensation earned or paid during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, adjustments were made to total compensation reported in our Summary Compensation Table. The reconciliation of the CAP is shown in the tables below.

David R. Harlow - PEO

 

Year

 

Summary Compensation Table Total

 

Deduct: Non-Qualified Deferred Compensation of Supplemental Executive Retirement Plan

 

Add: Service Cost of the Supplemental Executive Retirement Plan

 

Deduct: Option Awards

 

Add: Change in Value of Option Awards

 

Compensation Actually paid

 

2023

 

$

921,902

 

$

(56,297

)

$

27,760

 

$

 

$

224,141

 

$

1,117,506

 

2022

 

 

875,896

 

 

(51,465

)

 

26,147

 

 

 

 

675,006

 

 

1,525,584

 

2021

 

 

796,734

 

 

(47,006

)

 

24,628

 

 

 

 

281,011

 

 

1,055,367

 

2020

 

 

1,451,109

 

 

(42,889

)

 

23,197

 

 

(686,365

)

 

1,300,605

 

 

2,045,657

 

     
Non-PEO NEO Average Total Compensation Amount $ 648,062 701,119 557,195 709,629
Non-PEO NEO Average Compensation Actually Paid Amount $ 699,813 993,303 671,370 891,303
Adjustment to Non-PEO NEO Compensation Footnote 1. Compensation actually paid (CAP) represents the amount computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual amount of compensation earned or paid during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, adjustments were made to total compensation reported in our Summary Compensation Table. The reconciliation of the CAP is shown in the tables below

Average Other NEOs (2)

 

Year

 

Summary Compensation Table Total

 

Deduct: Non-Qualified Deferred Compensation of Supplemental Executive Retirement Plan

 

Add: Service Cost of the Supplemental Executive Retirement Plan

 

Deduct: Option Awards

 

Add: Change in Value of Option Awards

 

Compensation Actually paid

 

2023

 

$

648,062

 

$

(25,470

)

$

12,565

 

$

 

$

64,656

 

$

699,813

 

2022

 

 

701,119

 

 

(23,284

)

 

11,835

 

 

(88,037

)

 

391,670

 

 

993,303

 

2021

 

 

557,195

 

 

(21,266

)

 

11,148

 

 

 

 

124,293

 

 

671,370

 

2020

 

 

709,629

 

 

(19,403

)

 

10,500

 

 

(171,591

)

 

362,168

 

 

891,303

 

     
Compensation Actually Paid vs. Total Shareholder Return

Compensation Actually Paid Compared to Total Shareholder Return

 

The graph below shows our CAP compared to our TSR over the past four-year period. The amount of compensation actually paid to the Company's PEO and NEOs as a group is generally aligned with the Company's TSR over the four years presented in the table.

 

img91429597_0.jpg 

CAP vs. TSR

     
Compensation Actually Paid vs. Net Income

Compensation Actually Paid Compared to Net Income

 

The graph below shows our CAP compared to our net income over the past four-year period. The amount of compensation actually paid to the Company's PEO and NEOs as a group is generally aligned with the Company's net income over the four years presented in the table.

 

img91429597_1.jpg 

CAP vs. Net Income

 

om

     
Compensation Actually Paid vs. Company Selected Measure

Compensation Actually Paid Compared to Diluted EPS

 

The graph below shows our CAP compared to our diluted EPS over the past four-year period. The amount of compensation actually paid to the Company's PEO and NEOs as a group is generally aligned with the Company's diluted EPS over the four years presented in the table.

 

img91429597_2.jpg 

CAP vs. Diluted EPS

     
Total Shareholder Return Vs Peer Group

Cumulative TSR of the Company Compared to the Cumulative TSR of the Peer Group

 

The graph below shows our TSR, showing the actual return of our stock price with dividends reinvested, expressed as a cumulative return to our shareholders over the past four-year period. The Company's cumulative TSR outperformed the NASDAQ Bank Stocks during 2020, 2022 and 2023.

 

img91429597_3.jpg 

TSR VS. PEER GROUP TSR

     
Tabular List, Table

Most Important Financial Performance Measures. Listed below are the performance measures that our compensation committee views as the most important financial measures it uses to link the compensation actually paid to our principal executive officer and other named executive officers for the year ended December 31, 2023:

 

1.
Budgeted pre-tax income;
2.
Budgeted classified assets; and
3.
Internal audit ratings.
     
Total Shareholder Return Amount $ 170.28 151.45 119.14 97.04
Peer Group Total Shareholder Return Amount 106.87 110.67 132.19 92.5
Net Income (Loss) $ 212,465,000 $ 193,100,000 $ 167,630,000 $ 99,586,000
Company Selected Measure Amount 6.34 5.77 5.03 3
Measure:: 1        
Pay vs Performance Disclosure        
Name Budgeted pre-tax income      
Non-GAAP Measure Description

4. Diluted earnings per share was selected as the most important performance measurement for the current year other than net income which is also presented in the table.

     
Measure:: 2        
Pay vs Performance Disclosure        
Name Budgeted classified assets      
Measure:: 3        
Pay vs Performance Disclosure        
Name Internal audit ratings      
PEO | Deduct: Non-Qualified Deferred Compensation of Supplemental Executive Retirement Plan        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ (56,297) $ (51,465) $ (47,006) $ (42,889)
PEO | Add: Service Cost of the Supplemental Executive Retirement Plan        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 27,760 26,147 24,628 23,197
PEO | Deduct: Option Awards        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount       (686,365)
PEO | Add: Change in Value of Option Awards        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 224,141 675,006 281,011 1,300,605
Non-PEO NEO | Deduct: Non-Qualified Deferred Compensation of Supplemental Executive Retirement Plan        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (25,470) (23,284) (21,266) (19,403)
Non-PEO NEO | Add: Service Cost of the Supplemental Executive Retirement Plan        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 12,565 11,835 11,148 10,500
Non-PEO NEO | Deduct: Option Awards        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount   (88,037)   (171,591)
Non-PEO NEO | Add: Change in Value of Option Awards        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ 64,656 $ 391,670 $ 124,293 $ 362,168