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Ameris, BancFirst and BankUnited all allowed investors to decide how often they wanted to vote on executive compensation. The results from those annual meetings might encourage other banking companies to do the same next year.
June 8
Fees and commissions provided a silver lining for BancFirst (BANF) in Oklahoma City last quarter.
Earnings at the $5.8 billion-asset company fell 4.3% year over year, to $13.4 million. The comparison includes a $4.5 million securities gain in the first quarter of 2012.
Noninterest income fell 3.8% year over year, to $22.5 million. However, excluding the one-time securities gain from last year, noninterest income rose roughly 11% for the period, primarily because of higher revenues from service charges.
Net interest income fell 1.2% from a year earlier, to $40.3 million. The net interest margin narrowed 10 basis points, to 3.08% in the first quarter, because of lower yields.
Noninterest expense was $41.9 million, roughly unchanged from a year earlier. BancFirst's efficiency ratio deteriorated by 1.38 basis points, to 66.8%.
Its provision for loan losses rose 73% from a year earlier, to $300,000. Chargeoffs were unchanged from a year earlier, at 0.01%.
