2019 ShareHolder Presentation - BancFirst · This presentation contains forward-looking statements...
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Transcript of 2019 ShareHolder Presentation - BancFirst · This presentation contains forward-looking statements...
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Shareholders’ Meeting May 23, 2019
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• Total Assets: $7.7 billion
• Total Equity: $937 million
• 2018 Net Income: $126 million or $3.76 per share
• 161,000 Oklahoma Households
• 37,000 Oklahoma Businesses
• 1,900+ Employees
• Largest State Chartered Bank in Oklahoma
• Symbol BANF on NASDAQ Global Select
BancFirst Corporation
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On April 24, 2019 BancFirst Corporation announced plans to acquire Dallas, TX based Pegasus Bank
• $624 million in assets, $373 million in loans, and $575 million in deposits• Pegasus will continue to operate as a separate Texas state charter under BANF
with current Board and management.• Transaction adds the high growth MSA of Dallas, TX into BANF’s footprint which
marks BANF’s first expansion outside of Oklahoma• Superior growth with 5-year CAGR of 17.8% for loans and 15.7% for deposits• Top-tier profitability with LTM ROAA of 1.16% and ROAE of 17.4%• Three strategically situated branch locations in the Park Cities neighborhood of
Dallas
Pegasus Bank Acquisition
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Balance Sheet
$0$1,000$2,000$3,000$4,000$5,000$6,000$7,000$8,000$9,000
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1994
1995
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1999
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2011
2012
2013
2014
2015
2016
2017
2018
2019
Total Assets ($ in Millions)
$0
$1,000
$2,000
$3,000
$4,000
$5,000
$6,000
$7,000
$8,000
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1994
1995
1996
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1998
1999
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2010
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2012
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2015
2016
2017
2018
2019
Total Deposits ($ in Millions)
$0
$1,000
$2,000
$3,000
$4,000
$5,000
$6,000
1993
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1995
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2018
2019
Total Loans ($ in Millions)
$0$100$200$300$400$500$600$700$800$900
$1,000
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2018
2019
Equity ($ in Millions)
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Demand Deposits39%
Interest-Bearing Transaction
Accounts, 11%
Treasury Fund (MMDA)
31%
Other Savings9%
CDs < $250,0008%
CDs > $250,0002%
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Metro Areas, 47%
Community Banks, 53%
Retail, 80%
Commercial, 20%
Deposit Mix
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NOTE: Basel III became effective on 1/1/2015
Capital Ratios
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Basel III BancFirst BancFirst Well
(Bank) Corp Capitalized
Total Capital/Risk Assets 14.14% 16.32% > 10.00%
Common Equity Tier 1/Risk 12.84% 14.90% > 6.50%Assets
Tier 1 Capital/Risk Assets 13.20% 15.37% > 8.00%
Leverage Ratio 9.77% 11.38% > 5.00%(Tier 1 Capital/TA)
March 31, 2019
Sheet1
March 31, 2019CurrentBasel III
BancFirstBancFirstWellWell
(Bank)CorpCapitalizedCapitalized
Total Capital/Risk Assets14.14%16.32%> 10.00%> 10.00%
Common Equity Tier 1/Risk12.84%14.90%> 6.50%
Assets
Tier 1 Capital/Risk Assets13.20%15.37%> 6.00%> 8.00%
Leverage Ratio9.77%11.38%> 5.00%> 5.00%
(Tier 1 Capital/TA)
Sheet2
Sheet3
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Commercial, 18%
RE 1-4 Family, 19%
RE Comm -Investor, 17%
RE Comm -Owner Occupied,
13%
RE Constr 1-4 Family, 4%
RE Constr Other, 6%
RE Other, 6%Consumer, 4%
Agriculture, 3%
Direct Energy, 2%
Indirect Energy, 1%
Other, 7%
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Loan Portfolio Composition
Metro Areas, 50%
Community Banks, 50%
Commercial, 84%
Retail, 16%
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Income Statement
0.45 0.45 0.50 0.59 0.61 0.57 0.69
0.80 0.84 1.02 1.00
1.17 1.34
1.54 1.67 1.43
1.05 1.35 1.47
1.68 1.75 2.02 2.09
2.22
2.65
3.76
0.890.96
$0.00$0.50$1.00$1.50$2.00$2.50$3.00$3.50$4.00
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1994
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2015
2016
2017
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Q1
2018
Q1
2019
Earnings Per Share
$0
$20
$40
$60
$80
$100
$120
$140
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2018
Q1
2018
Q1
2019
Noninterest Income
0.060.070.080.090.110.130.15
0.170.180.200.240.27
0.300.340.380.42
0.450.480.520.56
0.600.65
0.700.740.8
1.02
$0.00
$0.20
$0.40
$0.60
$0.80
$1.00
$1.20
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2017
2018
Dividends Declared
$0
$50
$100
$150
$200
$250
$300
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Q1
2018
Q1
2019
Net Interest Income
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11
($20,000)
($10,000)
$0
$10,000
$20,000
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Volume/Rate Analysis
Volume Rate
Change in Net Interest Income
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$0
$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
$140,000
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Service Charges NSF Fees Insurance Comm Trust
Cash Mgmt Loan Sales Sweep Fees
Non-interest Income Composition
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• Average increase in shareholder return since IPO has been 13.3% vs. S&P 500 of 7.1% and KBW Bank Index of 7.6%
• BancFirst has a beta of 0.85
Stock Performance vs. the General Market since IPO
-500%
0%
500%
1000%
1500%
2000%
2500%
BANF
S&P 500
KBW Bank Index
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One of America’s Strongest Banks
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Forward-Looking StatementsThis presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 with respect to earnings and other financial information, corporate objectives, and other business matters. Forward-looking statements include estimates and give our current expectations or forecasts of future events. These forward-looking statements are subject to numerous assumptions, risks and uncertainties. Actual results may differ materially. These risks and other factors are described more fully in the Company’s Annual Report on Form 10-K for 2018 and other filings with the Securities and Exchange Commission.
Shareholders’ Meeting �May 23, 2019Slide Number 3Slide Number 4Slide Number 5Slide Number 6Slide Number 7 Capital RatiosSlide Number 9Slide Number 10Slide Number 11Slide Number 12Stock Performance vs. the General Market since IPOSlide Number 14Slide Number 15
