Dara Wanzer
BANCFIRST CORP /OK/About Dara Wanzer
Dara Wanzer, age 53, is Executive Vice President of Human Resources at BancFirst (BancFirst Corporation, ticker BANF). She has been an executive officer since 2017 and participates in compensation-setting discussions in an advisory capacity for the Compensation Committee as the senior HR executive . Prior to joining BancFirst, she served as legal counsel at Integris Health (Oklahoma City) for at least four years preceding 2017 . Company performance across her tenure has been strong: FY2024 net income was $216.354 million with diluted EPS $6.44 and five‑year TSR reached $208.74 vs peer group $128.85, indicating sustained value creation .
Company performance context:
| Metric | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|---|---|
| Total Shareholder Return (value of $100) | $97.04 | $119.14 | $151.45 | $170.28 | $208.74 |
| Peer Group TSR (NASDAQ Bank Stocks) | $92.50 | $132.19 | $110.67 | $106.87 | $128.85 |
| Net Income ($000s) | $99,586 | $167,630 | $193,100 | $212,465 | $216,354 |
| Diluted EPS ($) | $3.00 | $5.03 | $5.77 | $6.34 | $6.44 |
Bank operating mix (recent):
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Net Interest Income ($MM) | $424.5 | $446.9 |
| Noninterest Income ($MM) | $185.4 | $184.6 |
| Net Interest Margin (%) | 3.79% | 3.73% |
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Integris Health, Inc. (OKC) | Legal Counsel | ≥4 years prior to 2017 | Brought compliance and employment/legal expertise to HR leadership at BancFirst |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| None disclosed | — | — | No public company board or external roles disclosed in filings |
Fixed Compensation
| Component | Structure | Notes |
|---|---|---|
| Base Salary | Set annually by CEOs for executive officers (other than CEO of holding company and bank), reviewed by Compensation Committee | Based on role seniority, responsibilities, market practices, performance; salaries reviewed annually and upon role changes |
| Broad-based Benefits | 401(k) match (50% of first 6%), ESOP contributions discretionary, health/dental, life and LTD insurance | ESOP/401(k) contributions disclosed at company level; value varies by salary and board discretion |
| Perquisites | Limited; company vehicles for certain NEOs; club memberships and cell phone reimbursement; aircraft policy personal use charged at $650/hr + pilot | Perquisites generally minimal for executives; aircraft personal use billed to individual |
Performance Compensation
Program design for executive officers (including functional leaders like HR):
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Individual performance objectives (administrative executives) | Not disclosed | Set annually | Subjective evaluation by CEOs and Committee | Eligible 10%–25% of base salary; Committee discretion | Paid in December; 5% of base salary deferred into a 3‑year Deferred Bonus Pool subject to compliance conditions |
| Company financial/risk metrics (applies principally to CEOs/line leaders) | Examples: budgeted net income; classified assets/capital; internal audit | Set annually | Achievements assessed vs goals; CEOs’ metrics fully attained in 2024 (illustrative) | For 2024 NEOs, payouts were 20% cash + 5% deferred bonus of base salary (maximum) | Deferred bonus paid after 3 years if no restatement, no disclosure errors, no misconduct/negligence |
Clawback and incentive risk controls:
- NASDAQ-compliant clawback policy (Oct 26, 2023) applies to erroneously awarded incentive compensation to current/former executive officers over prior three fiscal years after an accounting restatement; policy excludes equity awards like RSUs/options (incentive-based compensation defined without performance equity) .
- Anti-hedging policy prohibits hedging and short-swing trading by employees, officers, and directors; pledging of company stock is permitted by policy .
Equity Ownership & Alignment
| Item | Status | Details |
|---|---|---|
| Stock Ownership Guidelines | None | Company does not have stock ownership guidelines for directors or executive officers |
| Beneficial Ownership (individual) | Not disclosed for Wanzer | Filings list NEOs/directors individually; group of directors and executive officers owned 31.95% as a group (excluding options) as of Mar 31, 2025 |
| Vested vs Unvested | Not disclosed for Wanzer | Individual breakdowns are shown only for NEOs; RSUs/options for NEOs detailed separately |
| Pledging/Hedging | Hedging prohibited; pledging allowed | Policy permits pledging; hedging and short-swing trading prohibited |
| Insider Filings | Form 4 filed Apr 2, 2025 | A Form 4 for Dara Wanzer (reporting owner) was filed for BANF on April 2, 2025; monitor for transaction details and potential selling pressure . GuruFocus shows no insider trades by Wanzer in the past 18 months (as of their last update) . |
Employment Terms
| Term | Details |
|---|---|
| Employment Agreement | None |
| Severance / Change-of-Control | Not applicable for Wanzer |
| Non-compete / Non-solicit | Not disclosed |
| Clawback | Adopted |
| Insider Trading / Anti-Hedging | Adopted |
Governance roles relevant to HR leadership:
- Management succession process is led annually by EVP Human Resources and CEO; presented to Executive Committee and Board (critical for talent pipeline and continuity) .
- Sustainability Committee member in 2024 (executive oversight of ESG integration into business processes) .
Say‑on‑Pay & Shareholder Feedback
| Year | Approval % | Notes |
|---|---|---|
| 2023 | ~95% | Committee reviewed market practices and maintained program structure |
| 2024 | 99% | Strong support for executive compensation program |
Investment Implications
- Alignment: Pay mix for executives emphasizes fixed salary with capped annual incentives (10%–25%), plus small deferred bonus pools, supporting conservative risk posture; absence of performance‑based equity in clawback scope reduces recovery leverage on equity awards .
- Retention: No individual employment contracts or severance/change‑of‑control protections for most executives (including Wanzer) lowers guaranteed payouts but may elevate retention risk versus peers who offer protections .
- Trading signals: Anti‑hedging policy is positive; pledging permitted can be a red flag if executives pledge shares—no pledging disclosed for Wanzer individually, but monitor insider filings (e.g., Form 4 filed Apr 2, 2025) for potential selling pressure or administrative transactions .
- Execution track record: Company net income and EPS have grown since 2020 and TSR outperformed bank peers through 2024, indicating effective execution across leadership functions, including HR‑led succession and organizational stability .