Executive Summary

Q4 2024 diluted EPS was $1.68, up from $1.46 in Q4 2023, with net income of $56.5M; net interest income rose to $115.9M and net interest margin held stable at 3.68% . The company reversed $1.4M of allowance for credit losses (ACL) in the quarter .
Deposits grew to $11.7B (+$1.0B YoY), with growth entirely in interest-bearing and time segments; sweep balances rose to $5.2B (+$871.6M YoY) .
Nonaccrual loans increased to $58.0M (0.72% of loans) vs. 0.32% a year ago, while allowance to total loans remained 1.24% .
Indicative third‑party data show Q4 EPS beat consensus by ~$0.07 ($1.68 vs $1.61) . S&P Global consensus estimates were unavailable due to data limitations.

What Went Well and What Went Wrong

What Went Well

Record net income and EPS for the fourth consecutive year, with management noting loan growth as the primary driver and strong asset quality; positive regional economic backdrop for 2025 (“The Company reported record net income and record earnings per share… Our outlook for 2025 is positive overall…”) .
Net interest income increased to $115.9M (from $105.1M YoY), supported by higher loan volumes; NIM was steady at 3.68% (3.67% YoY) .
Broad-based noninterest income growth (trust, treasury, sweep fees, insurance commissions), plus a $355K gain on equity securities vs. a $1.4M loss last year .

What Went Wrong

Nonaccrual loans rose to $58.0M (0.72% of loans) from 0.32% at year-end 2023, pointing to higher problem asset levels despite stable coverage ratios (ACL/loans 1.24%) .
Efficiency ratio worsened to 56.67% vs. 52.99% in Q3, reflecting higher operating costs; salaries and benefits increased by $3.6M YoY and OREO writedowns persisted (though lower than 2023) .
Deposit mix continued to shift away from noninterest-bearing toward interest-bearing/time deposits, pressuring funding costs (management flagged mix shift as a partial offset to NII improvement) .

Financial Results

Metric (USD / %)	Q2 2024	Q3 2024	Q4 2024
Net interest income ($USD Millions)	$109.9	$115.0	$115.9
Noninterest income ($USD Millions)	$43.9	$48.7	$47.0
Net income ($USD Millions)	$50.6	$58.9	$56.5
Diluted EPS ($)	$1.51	$1.75	$1.68
Net interest margin (%)	3.76%	3.78%	3.68%
Efficiency ratio (%)	55.46%	52.99%	56.67%
ROA (%)	1.61%	1.80%	1.67%
ROE (%)	13.72%	15.14%	14.04%

YoY comparison (Q4 2023 vs Q4 2024):

Metric (USD / %)	Q4 2023	Q4 2024
Net interest income ($USD Millions)	$105.1	$115.9
Noninterest income ($USD Millions)	$45.2	$47.0
Net income ($USD Millions)	$48.9	$56.5
Diluted EPS ($)	$1.46	$1.68
Net interest margin (%)	3.67%	3.68%
Efficiency ratio (%)	59.79%	56.67%

KPIs and balance sheet:

KPI (USD / %)	Q2 2024	Q3 2024	Q4 2024
Total assets ($USD Billions)	$12.74B	$13.31B	$13.55B
Total loans ($USD Billions)	$8.05B	$8.19B	$8.03B
Total deposits ($USD Billions)	$11.02B	$11.47B	$11.72B
NIB demand deposits ($USD Billions)	$3.82B	$3.86B	$3.91B
Time deposits ($USD Billions)	$1.18B	$1.41B	$1.47B
Sweep accounts ($USD Billions)	$4.5B	$4.3B	$5.2B
Stockholders’ equity ($USD Billions)	$1.51B	$1.58B	$1.62B
Nonaccrual loans ($USD Millions)	$44.0	$45.5	$58.0
Nonaccrual loans / total loans (%)	0.55%	0.56%	0.72%
Allowance / total loans (%)	1.24%	1.24%	1.24%

Note: “Revenue” is not reported as a single line; banks typically present net interest income plus noninterest income as total revenue.

Guidance Changes

Metric	Period	Previous Guidance	Current Guidance	Change
Corporate guidance	2025	Not provided	Not provided; qualitative outlook “positive overall”	Maintained (no formal guidance)
Tax rate	N/A	N/A	No forward guidance disclosed; effective tax rate discussed historically	N/A
Dividends	Quarterly	N/A	Declared $0.46 in Q4 2024 (actual)	N/A (no forward guidance)

No formal numeric guidance was provided in Q4 materials; management offered qualitative commentary on outlook .

Earnings Call Themes & Trends

The company did not publish an earnings call transcript in the tool corpus for Q4 2024; themes are drawn from management press releases for Q2–Q4.

Topic	Previous Mentions (Q-2 and Q-1)	Current Period (Q4 2024)	Trend
Net interest margin outlook	Q2: NIM 3.76%; mix shift toward interest-bearing deposits; Durbin impact reduced interchange . Q3: NIM 3.78%; management said outlook “unclear” given rate cuts and curve shifts .	NIM 3.68% with loan-driven NII growth; stable YoY .	Mixed/stable (slight compression QoQ).
Deposit mix and funding costs	Q2/Q3: Noninterest-bearing migrated to higher-yield options, lifting funding costs .	Deposit growth returned, “entirely in the interest bearing and time segments” .	Continued shift to higher-cost deposits.
Credit quality	Q2: ACL/loans ~1.24%; nonaccruals 0.55% . Q3: nonaccruals 0.56%; charge-offs stable .	Nonaccruals rose to 0.72%; ACL/loans 1.24%; net charge-offs ~$0.99M .	Deteriorating nonaccruals; reserves stable.
Macro rates commentary	Q3: Fed 50bp cut “had little impact”; potential further cuts; NIM outlook unclear .	Positive 2025 outlook tied to regional economy; no rate-specific guidance .	Neutral to cautious on NIM; constructive on economy.
Regulatory/fees	Q2: Durbin Amendment reduced interchange by ~$5.7M YoY .	No new regulatory commentary in Q4 release .	Headwind already embedded.

Management Commentary

“The Company reported record net income and record earnings per share for the fourth consecutive year. Loan growth was the primary driver… asset quality remained strong… The return of deposit growth was encouraging albeit entirely in the interest bearing and time segments. Our outlook for 2025 is positive overall…” — CEO David Harlow .
Q3 tone on margin: “Loan growth, an improved net interest margin, and growth across all major components of non-interest income resulted in a strong quarter… potential for further short-term rate reductions… changes the landscape considerably and causes our outlook on net interest margin to be unclear.” — CEO David Harlow .
Q2 operational context: “Strong loan growth led the way… Total deposits returned to pre-March 2023 banking crisis levels, although the mix has changed materially as noninterest-bearing deposits have migrated to higher yielding account options.” — CEO David Harlow .

Q&A Highlights

The Q4 2024 earnings call transcript was not available via the document tools, and we could not read a full transcript. No Q&A highlights can be provided from primary sources for this quarter.

Estimates Context

S&P Global consensus estimates were unavailable due to data limitations at query time.
Third‑party indicators suggest Q4 2024 EPS beat: actual $1.68 vs indicative consensus $1.61 (beat +$0.07) . Yahoo Finance also reported BANF topped Q4 earnings and revenue estimates (EPS surprise ~4.35%) .
Given the lack of S&P Global consensus, we anchor conclusions on reported actuals and caution that estimate comparisons reflect external sources rather than S&P Global.

Key Takeaways for Investors

Solid quarter with EPS $1.68 and NII strength; QoQ NIM compression to 3.68% warrants monitoring as deposit mix shifts toward higher-cost funding .
Deposit growth and higher sweep balances ($5.2B) improved liquidity, but the shift to interest-bearing/time deposits will keep funding costs elevated near term .
Rising nonaccruals (0.72% of loans) are a watch item despite stable ACL/loans (1.24%); net charge-offs remained modest (~$1.0M) .
Operating leverage was mixed: efficiency ratio worsened to 56.67% on higher compensation and OREO activity; investors should watch OpEx discipline into 2025 .
Without formal guidance, use management’s constructive regional macro tone as a backdrop; focus on loan growth sustainability and margin trajectory as rates evolve .
Indicative EPS beat vs consensus is a near-term positive catalyst, but the narrative will likely be driven by credit trend stabilization and deposit mix normalization .
Medium-term thesis: continued asset growth with strong capital and liquidity; monitor NIM resilience amid rate path uncertainty and Durbin-related fee headwinds .

BANCFIRST CORP /OK/ (BANF)·Q4 2024 Earnings Summary