Abdul Rahman
2 min read
In This Article:
BancFirst Corp (NASDAQ:BANF) is expanding its footprint in Oklahoma in pursuit of new growth opportunities. On May 21, the US bank agreed to acquire the American Bank of Oklahoma, affirming its strong financial position.
An executive in a suit walking across the lobby of a modern commercial bank.
With the acquisition, BancFirst will gain access to a bank with $385 million in total assets, $280 million in loans, and $320 million in deposits. In addition, it will gain access to a community bank with an impressive track record of paying dividends for 27 years, underlining its strong financial strength.
BancFirst Corp bid for American Bank of Oklahoma comes on the heels of an impressive first quarter 2025 results whereby the bank registered higher loan volume and overall growth in earning assets. Its net interest income jumped to $115.9 million from $106.1 million a year ago. Provision for credit losses dropped to $1.6 million from $4 million a year ago.
Following the solid quarterly performance, DA Davidson reiterated a Neutral rating on the stock with a $120 price target. BancFirst has surpassed the price target, after an 8% year-to-date gain. In addition to the share price gain, BancFirst boasts an impressive 27-year streak of dividend increases with a yield of 1.46%.
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Disclosure: None.
