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BancFirst

BancFirst Corporation
Company typePublic
Nasdaq: BANF
Russell 2000 Component
S&P 600 Component
IndustryFinancial services
Founded1966; 58 years ago (1966)
Headquarters
Oklahoma City, Oklahoma, U.S.
Key people
  • Gene Rainbolt (principal shareholder)
  • David Rainbolt (principal shareholder
ProductsBanking
RevenueIncreaseUS$237M (FY 2009)[1]
IncreaseUS$32.6M (FY 2009)[1]
Total assetsIncreaseUS$4.42B (FY 2009)[2]
Total equityIncreaseUS$431M (FY 2009)[2]
Number of employees
1500+
Websitewww.bancfirst.com

BancFirst Corporation, operating under the name BancFirst, is a state-chartered bank in Oklahoma, United States. It has over 100 banking locations serving 60 communities throughout the state of Oklahoma.

History

The roots of BancFirst date back to 1966, when lead investor and Chairman H.E. "Gene" Rainbolt purchased Federal National Bank in Shawnee, Oklahoma.[3] Federal National had $16 million in assets at the time of purchase.[4] Throughout the 1970s, Rainbolt acquired interests in many rural Oklahoma banks and formed Thunderbird Financial Corporation to assist each bank with management services.[5] In 1985, Rainbolt's banks in seven communities were brought under the ownership of United Community Corporation.[6]

On April 1, 1989, BancFirst was formed and established its corporate headquarters in downtown Oklahoma City. Changes in Oklahoma's banking laws that allowed multiple banks to merge in such a fashion were largely due to Gene Rainbolt's efforts to modernize the law.[citation needed]

In 1993, through an initial public offering, BancFirst began trading on the NASDAQ under stock symbol BANF. It has continued to grow through acquisitions.[which?]

Currently

BancFirst operates in 60 Oklahoma communities in 32 of Oklahoma's 77 counties, with over 100 service locations.[7] The bank has a network of more than 350 ATMs across the state, including in all Walgreens stores in Oklahoma.

As of September 2023, BancFirst's assets totaled $12.1 billion while deposits totaled $10.5 billion.[8] After 25 years as CEO, David Rainbolt became executive chairman of BancFirst Corp. in May 2017, David Harlow was promoted to CEO of BancFirst Corp., and Darryl Schmidt became CEO of the company's primary subsidiary.[9]

References

  1. ^ a b BancFirst (BANF) annual SEC income statement filing via Wikinvest.
  2. ^ a b BancFirst (BANF) annual SEC balance sheet filing via Wikinvest.
  3. ^ Hightower, M. J. (2015). Chapter One: The Early Years. In Loyal to Oklahoma The BancFirst Story (p. 8). Oklahoma City, OK: 2 Cities Press
  4. ^ Hightower, M. J. (2015). Chapter Two: A Base in Shawnee. In Loyal to Oklahoma The BancFirst Story (p. 11). Oklahoma City, OK: 2 Cities Press.
  5. ^ Hightower, M. J. (2015). Chapter Five: BancFirst Guthrie. In Loyal to Oklahoma The BancFirst Story (p. 50). Oklahoma City, OK: 2 Cities Press.
  6. ^ Hightower, M. J. (2015). Chapter Nine: United Community Corporation. In Loyal to Oklahoma The BancFirst Story (p. 81). Oklahoma City, OK: 2 Cities Press.
  7. ^ "Home". bancfirst.bank.
  8. ^ BancFirst Corp. (2016). BancFirst Annual Report.
  9. ^ "Oklahoma City-based BancFirst approves executive changes". 25 May 2017.
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