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The $2 billion-asset company said late Thursday that it would sell branches in Anthony and Harper to BancCentral in Alva, Okla. A third branch, in Overland Park, is being sold to Fidelity Bank in Wichita, Kan.
January 16 -
Fees and commissions provided a silver lining for BancFirst in Oklahoma City last quarter.
April 17 -
BancFirst Corp. of Oklahoma City is buying 75% of Century Life Assurance Co., its main insurance supplier, and plans to sell more of its products.
November 22
Fee revenue and improved asset quality helped BancFirst (BANF) in Oklahoma City beat fourth-quarter earnings forecasts.
The $6 billion-asset company on Thursday reported a quarterly profit of $13.9 million, a 13% rise from the same period in 2012. Earnings per share of 88 cents were 3 cents higher than analysts polled by Bloomberg had expected.
BancFirst's noninterest income increased by 2%, to $22.2 million, as cash-management revenue rose 38%, to $1.6 million. Service charges and trust revenue also ticked up, while loan-sale income dipped.
The company made a $454,000 provision for loan losses, down about $2 million from the year-prior period, as nonperforming and restructured loans declined by 15%, to $33.2 million.
Loan growth offset a slide in yield, leaving BancFirst's net interest income roughly level, at $41.9 million. Net interest margin tightened by 4 basis points, to 3%.
Operating costs rose 1%, to $43.9 million, as compensation and insurance costs rose.