BancFirst

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BancFirst Corporation
Public
Traded as NASDAQBANF
Industry Financial Services
Founded 1966
Headquarters Oklahoma City
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 corporation which operates under the name BancFirst, a state chartered bank in Oklahoma, United States. In 2012, it was in 50 Oklahoma communities, and was the largest state chartered bank in Oklahoma. [3]

History[edit]

The roots of BancFirst date back to 1966 when current lead stockholder and Chairman H.E. “Gene” Rainbolt purchased Federal National Bank in Shawnee, Oklahoma. [4] Federal National had $16 million in assets at the time of purchase. [5] Throughout the ‘70's Rainbolt acquired interests in many Oklahoma banks and formed Thunderbird Financial Corporation to assist each bank with management services. [6] In 1985, Rainbolt’s banks in seven communities were brought under the ownership of United Community Corporation. [7] Two years later, Rainbolt acquired five additional banks, each in separate communities, marking the beginning of a statewide organization.

In 1989 the company consolidated twelve banks under a single state charter, and officially named its company BancFirst, and opened its corporate office in Oklahoma City, the largest city in Oklahoma. [8] David Rainbolt became CEO of BancFirst in 1992 and oversaw the first public offering of BancFirst stock was in 1993. On the NASDAQ, BancFirst’s trading symbol is BANF. By 1994, the now publicly owned BancFirst had expanded into Tulsa, the second largest market in Oklahoma.[citation needed]

BancFirst announced in July, 2015, that it would acquire the Bank of Commerce in El Reno, Oklahoma, The merger would also mean that BancFirst would have locations in Yukon, Mustang and Union City.[9]

Currently[edit]

BancFirst continues to grow today through branch expansion and acquiring smaller banks. Currently, BancFirst has 131 service locations, 95 staffed offices, 83 offices with ATMs, 36 stand-alone ATMs, 117+ total ATMs, fee-free access to 300+ free ATMs at 7-Eleven stores, most Oklahoma E-Z-GO stores, and Walgreens drug stores. As of 2013, BancFirst had been recognized as Oklahoma's largest SBA lender for consecutive years. Jay Hannah and Kent Falson oversee the Commercial Capital Division responsible for that performance.

It is the second largest bank in Oklahoma behind Bank of Oklahoma. [10] BancFirst is also the largest state chartered bank in Oklahoma. [11]

During the financial crisis of late 2008, BancFirst was virtually unaffected. [12] In a study released by the Bank Director magazine in the 4th quarter of 2007, BancFirst was listed as the 17th strongest bank in the country. The following year, the 2009 edition of Bank Director magazine had improved their ranking of BancFirst all the way up to 11th strongest bank in the U.S.

According to rankabank.com, as of December 2013, BancFirst's assets total $5,906,914,000, while deposits total $5,338,147,000

BancFirst’s Mission Statement[edit]

BancFirst is an Oklahoma financial institution meeting its customers’ needs through highly trained and motivated employees, personalized service and community focus thus creating long-term value for its shareholders.

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. ^ https://www5.fdic.gov/sod/sodMarketBank.asp?barItem=2
  4. ^ Hightower, M. J. (2015). Chapter One: The Early Years. In Loyal to Oklahoma The BancFirst Story (p. 8). Oklahoma City, OK: 2 Cities Press
  5. ^ 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.
  6. ^ Hightower, M. J. (2015). Chapter Five: BancFirst Guthrie. In Loyal to Oklahoma The BancFirst Story (p. 50). Oklahoma City, OK: 2 Cities Press.
  7. ^ Hightower, M. J. (2015). Chapter Nine: United Community Corporation. In Loyal to Oklahoma The BancFirst Story (p. 81). Oklahoma City, OK: 2 Cities Press.
  8. ^ Hightower, M. J. (2015). Chapter Ten: BancFirst is Born. In Loyal to Oklahoma The BancFirst Story (p. 95). Oklahoma City, OK: 2 Cities Press.
  9. ^ "Dyer, Ray. "BancFirst to accquire Bank of Commerce," El Reno Tribune. July 21, 2015. Accessed December 6, 2016.
  10. ^ http://newsok.com/article/5450488
  11. ^ https://www5.fdic.gov/sod/sodMarketBank.asp?barItem=2
  12. ^ Hightower, M. J. (2015). Chapter Eleven: More Assembly Required. In Loyal to Oklahoma The BancFirst Story (p. 153). Oklahoma City, OK: 2 Cities Press.