Bancfirst Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014
January 22, 2015 at 04:30 pm
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BancFirst Corporation reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported net income of $15.7 million, up from $13.9 million for the fourth quarter of 2013. Diluted earnings per share was $0.99 compared to $0.88 for the same quarter of the prior year. Net interest income was $47.3 million compared to $41.9 million for the fourth quarter of 2013. Income before income taxes was $22,895,000 compared to $19,848,000 a year ago. Return on average assets was 0.96% compared to 0.91% a year ago. Return on average equity was 10.31% compared to 9.93% a year ago.
For the year, net income was $63.9 million, up from $54.3 million for 2013. Diluted earnings per share for the year was $4.04 compared to $3.49 for 2013. Net interest income was $181.4 million compared to $163.5 million for 2013. Income before income taxes was $91,171,000 compared to $80,842,000 a year ago. Return on average assets was 1.00% compared to 0.93% a year ago. Return on average stockholders' equity was 10.92% compared to 10.09% a year ago. Book value per common share as at December 31, 2014 was $39.30 compared to $36.33 a year ago.
BancFirst Corporation is a financial holding company, which operates through its subsidiaries, BancFirst and Pegasus Bank, which are a state-chartered banks. The Company has six business units: metropolitan banks, community banks, Pegasus, Worthington, other financial services and executive, operations, and support. Metropolitan banks, community banks, Pegasus and Worthington offers commercial and retail lending, a full line of deposit accounts and other. Metropolitan banks consist of banking locations in the metropolitan Oklahoma City and Tulsa areas. Community banks consist of banking locations in communities throughout Oklahoma. Pegasus consists of banking locations in the Dallas metropolitan area. Worthington consists of banking locations in the Fort Worth metropolitan area. Other financial services are specialty product business units, including guaranteed small business lending, residential mortgage lending, trust services, securities brokerage, electronic banking and insurance.