BancFirst

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BancFirst Corporation
Public
Traded as NASDAQBANF
Industry Financial Services
Founded 1966
Headquarters Oklahoma City, U.S.
Key people
Gene Rainbolt, David Rainbolt, Principal Shareholders
Products Banking
Revenue IncreaseUS$237M (FY 2009)[1]
IncreaseUS$32.6M (FY 2009)[1]
Total assets IncreaseUS$4.42B (FY 2009)[2]
Total equity IncreaseUS$431M (FY 2009)[2]
Number of employees
1500+
Website www.bancfirst.com

BancFirst Corporation is a corporation which operates under the name BancFirst, a state chartered bank in Oklahoma, United States. It has 100 banking locations serving 53 communities throughout the state of Oklahoma,[3] and is the largest state chartered bank in Oklahoma.[4]

History[edit]

The roots of BancFirst date back to 1966 when lead investor and Chairman H.E. “Gene” Rainbolt purchased Federal National Bank in Shawnee, Oklahoma.[5] Federal National had $16 million in assets at the time of purchase.[6] Throughout the ‘70's Rainbolt acquired interests in many rural Oklahoma banks and formed Thunderbird Financial Corporation to assist each bank with management services.[7] In 1985, Rainbolt’s banks in seven communities were brought under the ownership of United Community Corporation.[8]

In 1989 the company consolidated twelve banks under a single state charter, and officially named its company BancFirst. Corporate offices were established in Oklahoma City.[9] David Rainbolt became CEO of BancFirst in 1992, at which time the company reported $681 million in total assets.[10] He oversaw the first public offering of BancFirst stock in 1993, expanding the franchise in metropolitan and suburban Oklahoma.

Currently[edit]

BancFirst continues to grow today through branch expansion and acquisition of community banks in select Oklahoma markets. Currently, BancFirst operates in 53 Oklahoma communities in 30 of Oklahoma’s 77 counties, and with over 100 service locations.[3] The bank’s ATM network provides over 300 ATMs across the state and includes all Oklahoma Walgreens stores, 7-Eleven and EZ Go locations.[11]


As of December 2016, BancFirst's assets totaled $7,018,952, in thousands, while deposits total $6,248,057, in thousands.[12] 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.[13]

References[edit]

  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. ^ a b http://www.bancfirst.bank
  4. ^ https://www5.fdic.gov/sod/sodMarketBank.asp?barItem=2
  5. ^ Hightower, M. J. (2015). Chapter One: The Early Years. In Loyal to Oklahoma The BancFirst Story (p. 8). Oklahoma City, OK: 2 Cities Press
  6. ^ 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.
  7. ^ Hightower, M. J. (2015). Chapter Five: BancFirst Guthrie. In Loyal to Oklahoma The BancFirst Story (p. 50). Oklahoma City, OK: 2 Cities Press.
  8. ^ Hightower, M. J. (2015). Chapter Nine: United Community Corporation. In Loyal to Oklahoma The BancFirst Story (p. 81). Oklahoma City, OK: 2 Cities Press.
  9. ^ Hightower, M. J. (2015). Chapter Ten: BancFirst is Born. In Loyal to Oklahoma The BancFirst Story (p. 95). Oklahoma City, OK: 2 Cities Press.
  10. ^ BancFirst Corp. (1992). BancFirst Corp. Annual Report.
  11. ^ https://www.bancfirst.bank/locations
  12. ^ BancFirst Corp. (2016). BancFirst Annual Report.
  13. ^ http://newsok.com/article/5550539