Newspaper article THE JOURNAL RECORD

BancFirst Earnings Up 5.6% for Quarter

Newspaper article THE JOURNAL RECORD

BancFirst Earnings Up 5.6% for Quarter

Article excerpt

BancFirst earnings rose 5.6 percent in the first quarter to a record $3.97 million, or 60 cents per share.

Oklahoma's largest state-chartered bank posted a net income of $3.76 million, or 57 cents per share, for the same period of 1997.

"We are pleased to be able to report an increase in our first quarter earnings at the same time we are expanding staff and locations," said David Rainbolt, chief executive officer of BancFirst. BancFirst now has 63 branches, compared to about 40 last year. Its most recent acquisition was a block of 10 branches purchased from NationsBank in March. BancFirst moved to resell four of those branches last week for an undisclosed sum, deciding those locations would not be profitable. Net interest income for the Oklahoma City bank increased 11.1 percent to $15.4 million, while noninterest income jumped 14.9 percent to $4.38 million. BancFirst's noninterest expense rose 11.8 percent to $12.9 million. Its provision for possible loan losses jumped to $577,000 from $96,000, primarily to support BancFirst's continued loan growth. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.