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BancFirst misses Q3 profit estimates

Overview

BancFirst Q3 net income and EPS miss analyst expectations

Net interest income rose to $125.6 mln, driven by higher loan volumes

Noninterest income increased, led by trust revenue and securities transactions

Outlook

Company expects a slowing economy in its region

Company maintains healthy allowance for credit losses

Result Drivers

HIGHER LOAN VOLUME - Increased loan volume and growth in earning assets drove net interest income higher

NONINTEREST INCOME GROWTH - Increases in trust revenue and securities transactions boosted noninterest income

INCREASED EXPENSES - Growth in salaries and employee benefits, along with occupancy and professional fees, raised noninterest expenses

Key Details

MetricBeat/MissActualConsensus Estimate
Q3 EPSMiss$1.85$1.86 (3 Analysts)
Q3 Net IncomeMiss$62.65 mln$62.80 mln (3 Analysts)
Q3 Net Interest Income$125.61 mln
Q3 Credit Loss Provision$4.22 mln
Q3 Net Interest Margin3.79%
Q3 Pretax Profit$78.97 mln
Press Release: ID:nPn9VJHZKa For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com. (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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