8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) January 17, 2008

BANCFIRST CORPORATION

(Exact name of registrant as specified in its charter)

OKLAHOMA	0-14384	73-1221379
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

101 North Broadway, Oklahoma City, Oklahoma	73102
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code (405) 270-1086

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Results of Operations and Financial Condition, Financial Statements and Exhibits

Item 2.02. Results of Operations and Financial Condition.

BancFirst Corporation Reports Fourth Quarter Earnings

On January 17, 2008, BancFirst Corporation announced its results of operations for the quarter ended December 31, 2007. A copy of the related press release is being filed as Exhibit 99.1 to this Form 8-K and is incorporated herein by reference in its entirety.

Item 9.01. Financial Statements and Exhibits.

(c)	Exhibits.
Exhibit No.	Description
99.1	Press Release, dated January 17, 2008, issued by BancFirst Corporation titled “BancFirst Corporation Reports Fourth Quarter Earnings.”

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	BANCFIRST CORPORATION
	(Registrant)
Date: January 17, 2008	/s/ Joe T. Shockley, Jr.
	(Signature)
	Joe T. Shockley, Jr.
	Executive Vice President
	Chief Financial Officer

EX-99.1

BancFirstCorporation

101 NORTH BROADWAY

OKLAHOMA CITY, OKLAHOMA 73102

PRESS RELEASE

For Immediate Release: Thursday, January 17, 2008

For further information call Joe T. Shockley Jr., Chief Financial Officer (405) 270-1003

or David Rainbolt, Chief Executive Officer at (405) 270-1002

BANCFIRST CORPORATION REPORTS FOURTH QUARTER EARNINGS

BancFirst Corporation (NASDAQ GSM:BANF) reported net income of $11.6 million or $0.75 diluted earnings per share for the fourth quarter, and $53.1 million or $3.33 diluted earnings per share for the year ended December 31, 2007. The results compare to $13.5 million or $0.84 diluted earnings per share in the fourth quarter of 2006, and $49.4 million or $3.07 diluted earnings per share for the year 2006. The full year’s net income included several one-time gains reported in the third quarter of 2007.

The Company’s net interest income for the fourth quarter was $37.5 million versus $36.9 million for the same period a year ago. The Company’s net interest margin was 4.54% compared to 4.71% in the fourth quarter of 2006. Total earning assets for the Company averaged $3.3 billion in the fourth quarter up from $3.1 billion a year ago. During the fourth quarter of 2007, loans increased $87 million. The loan loss provision totaled $980,000 due primarily to the fourth quarter loan growth. Nonperforming loans equaled 0.40% of total assets, virtually the same as a year ago; net charge-offs were 0.11% of loans; both well below industry peer levels. Noninterest income was $15.2 million for the quarter, up 3% over the same period in 2006. Noninterest expense for the quarter totaled $34.2 million, but included one-time expenses approximating $800,000 for branch relocation, VISA litigation expense, and certain professional fees.

At December 31, 2007, the Company’s total assets were $3.7 billion, an increase of $324 million or 9.5% over the prior year end. Loans reached $2.5 billion, an increase of $161 million or 6.9% over December 31, 2006 while deposits increased 10.6% to $3.3 billion. The Company’s equity capital was $372 million or 9.9% of total assets.

BancFirst Corporation is an Oklahoma based financial services holding company. The Company’s principal subsidiary bank, BancFirst, is Oklahoma’s largest state-chartered bank with 86 banking locations serving 44 communities across Oklahoma.

The Company may make forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 with respect to earnings, credit quality, corporate objectives, interest rates and other financial and business matters. Forward-looking statements include estimates and give management’s current expectations or forecasts of future events. The Company cautions readers that these forward-looking statements are subject to numerous assumptions, risks and uncertainties, including economic conditions, the performance of financial markets and interest rates; legislative and regulatory actions and reforms; competition; as well as other factors, all of which change over time. Actual results may differ materially from forward-looking statements.

BancFirstCorporation

Summary Financial Information

(Dollars in thousands, except per share and share data - Unaudited)

	2007
													Year-
	Q1			Q2			Q3			Q4			To-Date
Income Statement Data:
Net interest income	$	36,374		$	37,437		$	36,969		$	37,506		$	148,286
Provision for loan losses		(31	)		132			2,248			980			3,329
Securities transactions		227			339			7,723			48			8,337
Total noninterest income		13,882			15,235			26,790			15,231			71,138
Salaries and employee benefits		18,790			18,937			19,513			19,574			76,814
Total noninterest expense		33,421			31,618			35,167			34,240			134,446
Net income		11,123			13,402			16,944			11,624			53,093
Per Common Share Data:
Net income-basic		0.71			0.85			1.08			0.76			3.41
Net income-diluted		0.69			0.83			1.06			0.75			3.33
Cash dividends declared		0.18			0.18			0.20			0.20			0.76
Common shares outstanding		15,721,936			15,724,536			15,201,459			15,217,233			15,217,233
Average common shares outstanding -
Basic		15,750,333			15,723,483			15,620,336			15,209,373			15,574,521
Diluted		16,113,434			16,056,768			15,951,069			15,575,630			15,944,622
Performance Ratios:
Return on average assets		1.31	%		1.51	%		1.88	%		1.27	%		1.49	%
Return on average equity		12.83			14.93			18.14			12.60			14.66
Net interest margin		4.75			4.68			4.55			4.54			4.63
Efficiency ratio		66.50			60.03			55.16			64.93			61.27

	2006
													Year-
	Q1			Q2			Q3			Q4			To-Date
Income Statement Data:
Net interest income	$	34,601		$	35,753			36,404			36,930		$	143,688
Provision for loan losses		681			917			315			(123	)		1,790
Securities transactions		--			139			246			141			526
Total noninterest income		13,409			14,732			15,501			14,782			58,424
Salaries and employee benefits		17,618			17,346			17,741			17,631			70,336
Total noninterest expense		30,292			30,826			31,609			31,830			124,557
Net income		10,881			12,209			12,740			13,522			49,352
Per Common Share Data:
Net income-basic		0.69			0.78			0.81			0.86			3.13
Net income-diluted		0.68			0.76			0.79			0.84			3.07
Cash dividends declared		0.16			0.16			0.18			0.18			0.68
Common shares outstanding		15,687,840			15,716,195			15,742,171			15,764,310			15,764,310
Average common shares outstanding -
Basic		15,666,676			15,702,060			15,732,307			15,751,044			15,713,306
Diluted		16,045,822			16,080,423			16,112,809			16,149,063			16,094,844
Performance Ratios:
Return on average assets		1.33	%		1.46	%		1.50	%		1.55	%		1.46	%
Return on average equity		14.03			15.49			15.44			15.38			15.10
Net interest margin		4.77			4.78			4.77			4.71			4.75
Efficiency ratio		63.09			61.06			60.90			61.55			61.63

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BancFirst Corporation

Summary Financial Information

(Dollars in thousands, except per share data - Unaudited)

	2007
	Q1			Q2			Q3			Q4
Balance Sheet Data:
Total assets	$	3,521,686		$	3,601,866		$	3,546,338		$	3,743,006
Total loans		2,336,028			2,345,838			2,399,982			2,487,099
Allowance for loan losses		(27,493	)		(27,568	)		(28,828	)		(29,127	)
Securities		430,765			459,271			464,534			467,719
Deposits		3,069,206			3,151,553			3,119,775			3,288,504
Stockholders' equity		355,478			364,547			358,871			371,962
Book value per common share		22.61			23.18			23.61			24.44
Tangible book value per common share		20.09			20.46			20.80			21.66
Balance Sheet Ratios:
Average loans to deposits		77.50	%		75.02	%		75.51	%		76.21	%
Average earning assets to total assets		90.77			90.74			90.89			91.03
Average stockholders' equity to average assets		10.18			10.11			10.35			10.09
Asset Quality Data:
Past due loans	$	1,688		$	1,276		$	1,022		$	823
Nonaccrual loans		9,909			13,372			13,146			11,568
Restructured loans		792			912			989			1,121
Total nonperforming and restructured loans		12,389			15,560			15,157			13,512
Other real estate owned and repossessed assets		1,233			1,098			1,300			1,568
Total nonperforming and restructured assets		13,622			16,658			16,457			15,080
Nonperforming and restructured loans to total loans		0.53	%		0.66	%		0.63	%		0.54	%
Nonperforming and restructured assets to total assets		0.39			0.46			0.46			0.40
Allowance to total loans		1.18			1.18			1.20			1.17
Allowance to nonperforming and restructured loans		221.90			177.18			190.20			215.57
Net charge-offs to average loans		0.03			0.01			0.17			0.11

	2006
	Q1			Q2			Q3			Q4
Balance Sheet Data:
Total assets	$	3,357,717		$	3,389,689		$	3,424,495			3,419,132
Total loans		2,306,317			2,339,959			2,332,838			2,325,548
Allowance for loan losses		(27,789	)		(28,227	)		(28,988	)		(27,700	)
Securities		428,222			434,696			422,650			432,910
Deposits		2,934,980			2,954,960			2,967,056			2,974,305
Stockholders' equity		310,698			320,430			335,148			348,913
Book value per common share		19.81			20.39			21.29			22.13
Tangible book value per common share		17.35			17.95			18.75			19.61
Balance Sheet Ratios:
Average loans to deposits		80.39	%		79.13	%		79.27	%		78.03	%
Average earning assets to total assets		89.55			90.16			90.36			90.71
Average stockholders' equity to average assets		9.50			9.46			9.70			10.08
Asset Quality Data:
Past due loans	$	1,204		$	612		$	727		$	1,884
Nonaccrual loans		8,238			7,244			8,960			9,371
Restructured loans		720			727			782			715
Total nonperforming and restructured loans		10,162			8,583			10,469			11,970
Other real estate owned and repossessed assets		2,075			2,657			2,548			1,675
Total nonperforming and restructured assets		12,237			11,240			13,017			13,645
Nonperforming and restructured loans to total loans		0.40	%		0.37	%		0.45	%		0.51	%
Nonperforming and restructured assets to total assets		0.36			0.33			0.38			0.40
Allowance to total loans		1.20			1.21			1.24			1.19
Allowance to nonperforming and restructured loans		303.31			328.88			276.91			231.41
Net charge-offs to average loans		0.07			0.08			0.01			0.20

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BancFirst Corporation

Consolidated Average Balance Sheets

And Interest Margin Analysis

Taxable Equivalent Basis

(Dollars in thousands - Unaudited)

		Three Months Ended December 31, 2007							Twelve Months Ended December 31, 2007
		Average Balance			Interest Income/ Expense	Average Yield/ Rate			Average Balance			Interest Income/ Expense	Average Yield/ Rate
ASSETS
Earning assets:
Loans	$	2,423,589		$	48,118	7.88		$	2,364,618		$	190,173	8.04	%
Securities - taxable		429,814			4,649	4.29			411,443			18,397	4.47
Securities - tax exempt		35,286			531	5.97			35,657			2,151	6.03
Federal funds sold		412,927			4,828	4.64			419,675			21,167	5.04
Total earning assets		3,301,616			58,126	6.98			3,231,393			231,888	7.18
Nonearning assets:
Cash and due from banks		136,972							139,919
Interest receivable and other assets		217,118							213,081
Allowance for loan losses		(28,745	)						(27,890	)
Total nonearning assets		325,345							325,110
Total assets	$	3,626,961						$	3,556,503
LIABILITIES AND
STOCKHOLDERS’ EQUITY
Interest-bearing liabilities:
Transaction deposits	$	390,911		$	685	0.70	%	$	398,786		$	2,989	0.75	%
Savings deposits		1,093,677			9,767	3.54			1,048,935			39,944	3.81
Time deposits		796,254			9,066	4.52			784,405			35,673	4.55
Short-term borrowings		27,878			322	4.58			33,584			1,667	4.96
Long-term borrowings		625			8	5.08			931			50	5.37
Junior subordinated debentures		26,805			491	7.27			27,832			2,140	7.69
Total interest-bearing liabilities		2,336,150			20,339	3.45			2,294,473			82,463	3.59
Interest-free funds:
Noninterest bearing deposits		899,246							877,474
Interest payable and other liabilities		25,432							22,426
Stockholders’ equity		366,133							362,130
Total interest free-funds		1,290,811							1,262,030
Total liabilities and stockholders’ equity	$	3,626,961						$	3,556,503
Net interest income				$	37,787						$	149,425
Net interest spread						3.53	%						3.59	%
Net interest margin						4.54	%						4.63	%

4