Segment Information

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Segment Information

(11) 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 March 31, 2024
Net interest income	$	28,193	$	60,011	$	10,867	$	4,389	$	1,019	$	1,625	$	—		$	106,104
Noninterest income		5,169		15,918		320		221		15,163		58,428		(50,319	)		44,900
Income before taxes		22,331		38,792		3,145		669		6,335		43,071		(50,133	)		64,210
Three Months Ended March 31, 2023
Net interest income	$	30,739	$	57,685	$	15,151	$	4,624	$	942	$	15	$	—		$	109,156
Noninterest income		6,087		19,532		214		279		14,172		66,143		(58,599	)		47,828
Income before taxes		23,310		43,599		9,644		1,630		6,164		48,417		(58,419	)		74,345
Total Assets:
March 31, 2024	$	3,283,434	$	7,452,457	$	1,322,543	$	618,111	$	111,953	$	1,404,833	$	(1,590,906	)	$	12,602,425
December 31, 2023		3,598,888		7,012,905		1,280,618		600,364		121,601		1,307,714		(1,550,048	)		12,372,042

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.