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Bancfirst's Business Segments
Bancfirst's reported revenue by business segment and by geographic region, quarterly and annual, normalized against the consolidated income statement. Free below: the top 3 rows per table, this quarter and this fiscal year. Subscriber access adds the full segment history and operating income by segment.
Segment Data As of FY
Reportable Segments
2
Largest Segment
Deposit Account
Total Revenue
$ 183
Regions Reported
-
Revenue Share by Reportable Segment - FY
- Deposit Account20.3%
- Fiduciary and Trust6.6%
Revenue by Reportable Segment - FY
| Segment | Revenue (Millions) | % of Total |
|---|---|---|
| Deposit Account | $ 37 | 20.3% |
| Fiduciary and Trust | $ 12 | 6.6% |
Annual Results
Revenue Share by Reportable Segment - FY
- Deposit Account20.3%
- Fiduciary and Trust6.6%
Revenue by Reportable Segment - FY
| Segment | Revenue (Millions) | % of Total |
|---|---|---|
| Deposit Account | $ 37 | 20.3% |
| Fiduciary and Trust | $ 12 | 6.6% |
Description of Bancfirst
The Company was incorporated as United Community Corporation in July 1984 for the purpose of becoming a bank holding company. In June 1985, it merged with seven Oklahoma bank holding companies that had operated under common ownership and the Company has conducted business as a bank holding company since that time. Over the next several years the Company acquired additional banks and bank holding companies, and in November 1988 the Company changed its name to BancFirst Corporation. Effective April 1, 1989, the Company consolidated its 12 subsidiary banks and formed BancFirst. Over the intervening decades, the Company has continued to expand through acquisitions and de-novo branches. The Company currently has 99 banking locations serving 53 communities throughout Oklahoma.
BancFirst Corporation is a comprehensive financial institution that operates through a diversified array of segments, products, and services. The company is structured into four principal business units: metropolitan banks, community banks, other financial services, and executive operations and support. Each of these units plays a vital role in a diverse portfolio designed to meet the financial needs of various customers, including individuals, businesses, and governmental entities. Here’s an extensive look at each business unit and the offerings within:
1. Metropolitan Banks
Metropolitan banks are designed to serve urban and suburban markets with a wide range of banking products and services. They focus on providing both personal and business banking solutions, catering to the needs of the local population and businesses.
Products and Services:
- Personal Banking: This includes savings accounts, checking accounts, money market accounts, and certificates of deposit (CDs). Customers benefit from digital banking options, mobile apps, and ATM access.
- Business Banking: Offerings include business checking and savings accounts, commercial loans, lines of credit, and treasury management services. Specialized products may also be available for small businesses and entrepreneurs to help them grow.
- Consumer Loans: A variety of personal loan options, including auto loans, home equity lines of credit, and personal loans, facilitate consumer spending and investment.
- Credit Services: The bank provides credit cards, overdraft protection services, and other credit solutions tailored to different consumer and business needs.
Community Banks
Community banks focus on serving smaller towns and rural areas, offering personalized banking experiences and local knowledge.
Products and Services:
- Savings and Checking Products: Similar to metropolitan banks, community banks offer a range of deposit accounts but often emphasize community involvement by providing higher interest rates on savings and more flexible terms.
- Agricultural Financing: Given the importance of agriculture in rural areas, community banks typically provide specialized lending products for farmers and agribusinesses, including equipment loans, crop financing, and livestock loans.
- Mortgage Lending: These banks often have strong local ties and personalized services to help individuals obtain home loans, including conventional, FHA, and VA loans.
- Financial Advisory Services: Providing resources for retirement planning, wealth management, and trust services to help customers manage their finances effectively.
Other Financial Services
This segment encompasses a range of services designed to meet specific financial needs outside of traditional banking.
Products and Services:
- Investment Services: BancFirst offers investment management, financial planning, and brokerage services, helping clients manage their portfolios and achieve their financial goals.
- Insurance Products: Through partnerships, the bank provides access to a variety of insurance products, including life, health, auto, and property insurance, ensuring customers have comprehensive risk management solutions.
- Wealth Management: This service includes estate planning, trust administration, and asset management for high-net-worth individuals, focusing on preserving and growing wealth across generations.
Executive Operations and Support
The executive operations and support unit provides essential internal functions that reinforce the companys ability to deliver quality services efficiently.
Functions:
- Risk Management: This includes compliance with regulatory requirements and internal controls to protect assets and ensure the stability of the banks operations.
- Human Resources: Responsible for talent acquisition, training programs, and employee relations, ensuring that the bank employs skilled professionals who are motivated to provide excellent service.
- Technology and Innovation: Utilizing cutting-edge banking technologies, this unit focuses on enhancing digital banking capabilities, data security, and customer experience. The development of mobile banking apps and online services is particularly crucial in improving accessibility and convenience for customers.
- Marketing and Communications: This function supports brand development, customer engagement, and outreach efforts, focusing on educating customers about product offerings and driving engagement through various marketing channels.
Conclusion
BancFirst Corporation’s diverse segments and comprehensive range of products and services illustrate its commitment to meeting the varied financial needs of individuals, businesses, and communities. Each business unit synergistically contributes to the overall mission of providing exceptional banking experiences, fostering financial growth, and enhancing customer satisfaction across the regions it serves.
1. Metropolitan Banks
Metropolitan banks are designed to serve urban and suburban markets with a wide range of banking products and services. They focus on providing both personal and business banking solutions, catering to the needs of the local population and businesses.
Products and Services:
- Personal Banking: This includes savings accounts, checking accounts, money market accounts, and certificates of deposit (CDs). Customers benefit from digital banking options, mobile apps, and ATM access.
- Business Banking: Offerings include business checking and savings accounts, commercial loans, lines of credit, and treasury management services. Specialized products may also be available for small businesses and entrepreneurs to help them grow.
- Consumer Loans: A variety of personal loan options, including auto loans, home equity lines of credit, and personal loans, facilitate consumer spending and investment.
- Credit Services: The bank provides credit cards, overdraft protection services, and other credit solutions tailored to different consumer and business needs.
Community Banks
Community banks focus on serving smaller towns and rural areas, offering personalized banking experiences and local knowledge.
Products and Services:
- Savings and Checking Products: Similar to metropolitan banks, community banks offer a range of deposit accounts but often emphasize community involvement by providing higher interest rates on savings and more flexible terms.
- Agricultural Financing: Given the importance of agriculture in rural areas, community banks typically provide specialized lending products for farmers and agribusinesses, including equipment loans, crop financing, and livestock loans.
- Mortgage Lending: These banks often have strong local ties and personalized services to help individuals obtain home loans, including conventional, FHA, and VA loans.
- Financial Advisory Services: Providing resources for retirement planning, wealth management, and trust services to help customers manage their finances effectively.
Other Financial Services
This segment encompasses a range of services designed to meet specific financial needs outside of traditional banking.
Products and Services:
- Investment Services: BancFirst offers investment management, financial planning, and brokerage services, helping clients manage their portfolios and achieve their financial goals.
- Insurance Products: Through partnerships, the bank provides access to a variety of insurance products, including life, health, auto, and property insurance, ensuring customers have comprehensive risk management solutions.
- Wealth Management: This service includes estate planning, trust administration, and asset management for high-net-worth individuals, focusing on preserving and growing wealth across generations.
Executive Operations and Support
The executive operations and support unit provides essential internal functions that reinforce the companys ability to deliver quality services efficiently.
Functions:
- Risk Management: This includes compliance with regulatory requirements and internal controls to protect assets and ensure the stability of the banks operations.
- Human Resources: Responsible for talent acquisition, training programs, and employee relations, ensuring that the bank employs skilled professionals who are motivated to provide excellent service.
- Technology and Innovation: Utilizing cutting-edge banking technologies, this unit focuses on enhancing digital banking capabilities, data security, and customer experience. The development of mobile banking apps and online services is particularly crucial in improving accessibility and convenience for customers.
- Marketing and Communications: This function supports brand development, customer engagement, and outreach efforts, focusing on educating customers about product offerings and driving engagement through various marketing channels.
Conclusion
BancFirst Corporation’s diverse segments and comprehensive range of products and services illustrate its commitment to meeting the varied financial needs of individuals, businesses, and communities. Each business unit synergistically contributes to the overall mission of providing exceptional banking experiences, fostering financial growth, and enhancing customer satisfaction across the regions it serves.