BANCFIRST CORPORATION

BANCFIRST CORPORATION

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Company Overview
Bancfirst Corporation, formerly known as United Community Corporation, is a US-based, publicly quoted company engaged in the operation of national commercial banks. The bank was founded in 1984 and has its corporate head office located in Oklahoma City, Oklahoma.
The bank offers personal banking, commercial banking, online banking, student services, SBA loans, home mortgages, and trust & investment management. It offers overdraft protection and autodraft services, depository and funds transfer services, collections, safe deposit boxes, cash management services, retail brokerage services, securities brokerage services, electronic banking services, insurance products and services, and other services.
Bancfirst Corporation provides services to small to medium-sized businesses that engage in light manufacturing, local wholesale and retail trade, services, agriculture, and the energy industries.
The bank is the holding company of Bancfirst, which provides a range of retail and commercial banking services. Bancfirst accepts checking, NOW, savings, money market, club and individual retirement accounts, as well as certificates of deposits.
The Bancfirst shares are traded on the NASDAQ National Market under the ticker symbol .
Business Summary
Bank Holding & Holding Company
Description and history
BancFirst Corporation is an Oklahoma business corporation and a financial holding company under Federal law. It conducts virtually all of its operating activities through its principal wholly-owned subsidiary, BancFirst, a state-chartered bank headquartered in Oklahoma City, Oklahoma. The Company also owns 100% of the common securities of BFC Capital Trust I and BFC Capital Trust II, both Delaware Business Trusts, 75% of Century Life Assurance Company, an Oklahoma chartered insurance company, 100% of Council Oak Partners LLC, an Oklahoma limited liability company engaging in investing activities, 100% of Wilcox & Jones, Inc., an Oklahoma business corporation operating as an independent insurance agency, and 100% of Park State Bank, a state-chartered bank headquartered in Nicoma Park, Oklahoma that the Company acquired in December 2005.

The Company was incorporated as United Community Corporation in July 1984 for the purpose of becoming a bank holding company. In June 1985, it merged with seven Oklahoma bank holding companies that had operated under common ownership and the Company has conducted business as a bank holding company since that time. Over the next several years the Company acquired additional banks and bank holding companies, and in November 1988 the Company changed its name to BancFirst Corporation. Effective April 1, 1989, the Company consolidated its 12 subsidiary banks and formed BancFirst. The Company has continued to expand through acquisitions and de-novo branches. BancFirst currently has 83 banking locations serving 43 communities throughout Oklahoma.

The Company’s strategy focuses on providing a full range of commercial banking services to retail customers and small to medium-sized businesses both in the non-metropolitan trade centers of Oklahoma and the metropolitan markets of Oklahoma City, Tulsa, Lawton, Muskogee, Norman and Shawnee. The Company operates as a ‘super community bank’, managing its community banking offices on a decentralized basis, which permits them to be responsive to local customer needs. Underwriting, funding, customer service and pricing decisions are made by Presidents in each market within the Company’s strategic parameters. At the same time, the Company generally has a larger lending capacity, broader product line and greater operational efficiencies than its principal competitors in the non-metropolitan market areas (which typically are independently-owned community banks). In the metropolitan markets served by the Company, the Company’s strategy is to focus on the needs of local businesses that are not served effectively by larger institutions.

The Bank provides a wide range of retail and commercial banking services, including: commercial, real estate, agricultural and consumer lending; depository and funds transfer services; collections; safe deposit boxes; cash management services; retail brokerage services; and other services tailored for both individual and corporate customers. The Bank also offers trust services and acts as executor, administrator, trustee, transfer agent and in various other fiduciary capacities. Through its Technology and Operations Center, the Bank provides item processing, research and other correspondent banking services to financial institutions and governmental units.

The Company evaluates its performance with an internal profitability measurement system that measures the profitability of its business units on a pre-tax basis. The four principal business units were metropolitan banks, community banks, other financial services, and executive, operations and support. Metropolitan and community banks offer traditional banking products such as commercial and retail lending, and a full line of deposit accounts. Metropolitan banks consist of banking locations in the metropolitan Oklahoma City and Tulsa areas. Community banks consist of banking locations in communities throughout Oklahoma. Other financial services are specialty product business units including guaranteed small business lending, guaranteed student lending, residential mortgage lending, trust services, securities brokerage, electronic banking and insurance. The executive, operations and support groups represent executive management, operational support and corporate functions that are not allocated to the other business units.

The Company’s Common Stock is listed on the Nasdaq National Market System (‘NASDAQ/NMS’) and is traded under the symbol ‘BANF’.

In December 2005, BancFirst Corporation completed the acquisition of Park State Bank (Park State), Nicoma Park, Oklahoma for cash of approximately $11 million. Park State had total assets of approximately $44 million. As a result of the acquisition, Park State became a wholly-owned subsidiary of BancFirst Corporation and was merged into BancFirst in February 2006. The acquisition was accounted for as a purchase. Accordingly, the effects of the acquisition are included in the Company’s consolidated financial statements from the date of the acquisition forward. The acquisition did not have a material effect on the results of operations of the Company for 2005.

Formerly known as United Community Corporation

Business Line
Engaged in the operation of national commercial banks
Subsidiary
BANC FIRST
Advisor

IPO date
4/1993
US SIC Code
6712
Company Address
North Broadway, 101 – Suite 200

City province or state postal code
73102, OKLAHOMA CITY, OK
Phone: 1 (405) 270 10 00
Fax: 1 (405) 270 10 90
Country address: UNITED STATES OF AMERICA
Website url: www.bancfirst.com