BancFirst to acquire American Bank of Oklahoma

OKLAHOMA CITY - BancFirst Corporation (NASDAQ:BANF), a $4.31 billion market cap financial institution currently trading near its 52-week high, announced on Wednesday an agreement to acquire the American Bank of Oklahoma (ABOK), a community bank based in Collinsville, Oklahoma. The acquisition, which includes approximately $385 million in total assets, $280 million in loans, and $320 million in deposits, is set to be finalized in the third quarter of 2025, pending regulatory approvals and standard closing conditions. According to InvestingPro data, BancFirst has demonstrated strong financial health with a "GREAT" overall score, suggesting robust operational capabilities for this expansion.

David Harlow, CEO of BancFirst, expressed enthusiasm for the expansion into the Collinsville and Skiatook areas, noting their significant growth and potential. He welcomed ABOK’s team and customers to BancFirst, highlighting the acquisition’s fit with the company’s strategy to serve Oklahoma communities.

Teresa Brown, President & CEO of ABOK, also commented on the merger, emphasizing the shared values between the two banks and the benefits for ABOK’s customers and employees in becoming part of BancFirst, which she described as one of the strongest banks in the country.

The integration process will see ABOK operating under its current name until the expected merger into BancFirst in the fourth quarter of 2025. Customers of ABOK will be provided with additional information to facilitate a smooth transition.

BancFirst Corporation, with $14 billion in total assets as of March 31, 2025, is a financial services holding company. Its principal subsidiary, BancFirst, is headquartered in Oklahoma City and was recently ranked among the top 20 on Forbes’ list of America’s Best Banks of 2025, marking it the highest-rated bank from Oklahoma. The company has maintained 27 consecutive years of dividend increases and achieved an impressive 45.21% return over the past year. InvestingPro analysis reveals 10+ additional key insights about BancFirst’s performance and valuation, available to subscribers. In addition to its banking operations, BancFirst Corporation fully owns BancFirst Insurance Services, an independent insurance agency.

This expansion move by BancFirst is based on a press release statement and is subject to customary closing procedures and regulatory approvals.

In other recent news, BancFirst Corporation reported impressive first-quarter 2025 earnings, surpassing analyst expectations. The bank achieved earnings per share of $1.67, exceeding the consensus estimate of $1.58, and reported revenue of $164.84 million, which was above the anticipated $161.71 million. Net income rose to $56.1 million, up from $50.3 million in the same quarter last year, driven by growth in net interest income and noninterest income. BancFirst’s net interest income reached $115.9 million, an increase from $106.1 million the previous year, supported by higher loan volume and earning asset growth.

Additionally, noninterest income increased to $49.0 million, with gains in areas such as trust revenue and insurance commissions. Total assets climbed to $14.0 billion, reflecting a $483.7 million rise from the end of 2024, while loans and deposits also saw significant growth. DA Davidson maintained its Neutral rating for BancFirst, with a $120 price target, citing the bank’s solid quarterly performance and effective cost control. The firm’s analysis highlighted BancFirst’s stable net interest margin and asset quality, with low net charge-offs and unchanged nonperforming asset levels. These recent developments reflect BancFirst’s steady financial performance amidst current market conditions.

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