Bancfirst Corporation · NASDAQ:BANF
Bancfirst — Investor Presentation (February 2010)
33 slides from Bancfirst's investor presentation, Feb 25, 2010
Slide 1: Exhibit 99.1
Exhibit 99.1
Slide 2: BancFirst Corporation
BancFirst Corporation Super Community Bank Total Assets: $4.4 billion Total Equity: $430 million 1,500+ Employees Largest State Chartered Bank in Oklahoma Symbol BANF on NASDAQ Global Select
Slide 3: BancFirst
BancFirst ay Love! | ‘To Oklahoma & Your 1,500+ 120 Service Locations 84 Staffed Offices 26 Stand-alone ATMs 104+ BancFirst ATMs 400+ ATMs including Oklahoma Walgreens, 7-Eleven, EZ-GO and QuikTrip iployees tiie LaeronTS® Say ating © Fricke
Slide 4: Mergers and Acquisitions
Mergers and Acquisitions Community Profile Population of 5,000 or more residents Institution of Higher Learning Diversified Employment Base Reasonable Market Share Compatible Culture
Slide 5: Oklahoma Companies
Oklahoma Companies • Largest Employers EMPLOYER EMPLOYEES – State of OK 37,000 – Wal-Mart 30,000 – Tinker AFB 27,000 – Fort Sill 21,400 – USPS 16,500 – OU 13,000 – OSU 12,000 – American Airlines 7,500 – Tulsa Public Schools 7,000 – Chickasaw Nation 6,000 – Cherokee Nation 5,900 – Choctaw Nation 5,00
Slide 6: BancFirst
BancFirst ay Love! | ‘To Oklahoma & Your
Slide 7: Decentralized Bank Management Company Overview
Decentralized Bank Management Company Overview
Slide 8: Total Assets (in millions)
Total Assets (in millions) $823 $873 $1,048 $1,236 $1,346 $2,336 $2,336 $2,570 $2,757 $2,797 $2,921 $3,047 $3,223 $3,419 $3,743 $3,851 $4,416 $0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 $4,000 $4,500 1993 1995 1997 1999 2001 2003 2005 2007 2009
Slide 9: Total Loans (in millions)
Total Loans (in millions) $466 $522 $625 $764 $858 $1,339 $1,455 $1,666 $1,717 $1,815 $1,947 $2,094 $2,317 $2,326 $2,487 $2,724 $2,739 $0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 1993 1995 1997 1999 2001 2003 2005 2007 2009
Slide 10: Loan Portfolio Composition
Loan Portfolio Composition Source: BancFirst Corporation 12/31/09 8-K Composition 28% 3% 21% 19% 13% 7% 4% 3% 2% RE Comm Energy RE 1-4 Family Commercial Consumer RE Constr RE Other Agriculture Other
Slide 11: Lending Concentrations
Lending Concentrations • Maximum In-House Limit: $30 million • 25 Largest Relationships – relationship $32.6 million (approved overage) – relationship $25-30 million – relationships $20-25 million – 4 relationships $15-20 million – 12 relationships $10-15 million Distribution: Amount Energy Commerci
Slide 12: Specialized Lending
Specialized Lending SBA # 1 SBA Lender in Oklahoma for the last 17 years $293 million in loans generated over the past decade Most experienced lending staff in Oklahoma Home Mortgage Student Lending Oklahoma’s largest guaranteed student lender Portfolio of over 50,000 loans equaling approximately $1
Slide 13: Oklahoma vs US Single-Family Housing Permits
Oklahoma vs US Single-Family Housing Permits
Slide 14: Oklahoma vs US Non-farm Employment
Oklahoma vs US Non-farm Employment
Slide 15: Net Charge-offs/ Average Loans
Net Charge-offs/ Average Loans -0.05% 0.05% 0.15% 0.25% 0.35% 0.45% 0.55% 0.65% 0.75% 0.85% 1993 1995 1997 1999 2001 2003 2005 2007 2009 BancFirst Peer
Slide 16: FDIC Insured Institutions: Net Charge-Offs to Loans & Leases
FDIC Insured Institutions: Net Charge-Offs to Loans & Leases 0.00 0.50 1.00 1.50 2.00 2003 2004 2005 2006 2007 2008 2009 US Oklahoma BancFirst
Slide 17: FDIC Insured Institutions: Nonaccrual loans to Loans and Leases
FDIC Insured Institutions: Nonaccrual loans to Loans and Leases 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% 2006 2007 2008 2009 US Oklahoma BancFirst Source: Federal Deposit Insurance Corporation
Slide 18: Loan Loss Reserve as % of Loans
Loan Loss Reserve as % of Loans 1.70% 1.56% 1.40% 1.47% 1.55% 1.52% 1.43% 1.34% 1.34% 1.23% 1.19% 1.19% 1.17% 1.24% 1.34% 0.00% 0.20% 0.40% 0.60% 0.80% 1.00% 1.20% 1.40% 1.60% 1.80% 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
Slide 19: Deposit Mix
Deposit Mix 29% 12% 10% 49% Demand Deposit Transaction/Savings CD < $100,000 CD > $100,000 • No brokered deposits As of 12/31/2009
Slide 20: BancFirst Deposit Market Share
BancFirst Deposit Market Share Location Amount ($MM) Market Share Rank • Statewide $3,177 5.51% • OKC MSA 1,115 5.64 • Tulsa MSA 2.58 • Lawton 192 22.98 • Shawnee 148 25.49 • Ardmore 154 21.36 • Duncan 146 21.75 • Stillwater 144 12.59 As of 6/30/2007
Slide 21: FDIC Insured Institutions: Average Loans to Deposits
FDIC Insured Institutions: Average Loans to Deposits 50% 55% 60% 65% 70% 75% 80% 85% 90% 95% 100% 2003 2004 2005 2006 2007 2008 2009 US Oklahoma BancFirst Source: Federal Deposit Insurance Corporation
Slide 22: Capital Ratios December 31, 2009
Capital Ratios December 31, 2009 12/31/2009 12/31/2008 12/31/2009 12/31/2008 BancFirst BancFirst BancFirst BancFirst Well (Bank) (Bank) Corp Corp Total Capital/Risk Assets 14.18% 12.99% 14.96% 13.78% > 10.00% Tier 1 Capital/Risk Assets 12.93% 11.82% 13.73% 12.61% > 6.00% Leverage Ratio 8.71% 9.39% 9
Slide 23: Net Income
Net Income $11.1 $11.5 $12.9 $15.1 $15.7 $21.6 $23.9 $26.2 $28.0 $33.6 $31.9 $37.2 $42.8 $49.4 $53.1 $44.8 $32.6 $0 $10 $20 $30 $40 $50 $60 1993 1995 1997 1999 2001 2003 2005 2007 2009
Slide 24: Net Interest Margin Comparison
Net Interest Margin Comparison 2.00 2.50 3.00 3.50 4.00 4.50 5.00 2003 2004 2005 2006 2007 2008 2009 Date All Banks Over $5B Under $5B BancFirst
Slide 25: Noninterest Income
Noninterest Income 9% 55% 10% 4% 12% 10% Trust Revenue Service Charges Insurance Commissions Premium on sale of loans Cash Management Other As of 12/312009
Slide 26: Financial Services
Financial Services Cash Management Services Council Oak Investment Corp. - Management Buyout - Mezzanine Capital/Financing - Acquisition/Generational Transfers Brokerage and Investment Services Full Service Trust Department Wilcox Jones & McGrath - Full service insurance agency
Slide 27: Net Income Per Share
Net Income Per Share • Net Income Per Share Adjusted for Stock Split (Fully Diluted) $0.89 $0.90 $1.01 $1.17 $1.21 $1.14 $1.38 $1.60 $1.67 $2.03 $2.00 $2.33 $2.68 $3.07 $3.33 $2.85 $2.09 $0.00 $1.00 $2.00 $3.00 $4.00 1993 1995 1997 1999 2001 2003 2005 2007 2009
Slide 28: America's Best Banks Bank Director Magazine
America’s Best Banks Bank Director Magazine BancFirst was the 18th top performing bank of the largest publicly traded banks and thrifts nationwide in 2009 Based on profitability, capitalization and asset quality metrics Fourth consecutive year ranked in top 20 Only Oklahoma bank in top quartile Sour
Slide 29: Stock Performance vs Regional Banks
Stock Performance vs Regional Banks -75.00% -50.00% -25.00% 0.00% 25.00% 50.00% Jun-06 Dec-06 Jun-07 Dec-07 Jun-08 Dec-08 Jun-09 Dec-09 BANF KBW Regional Bank Index
Slide 30: Stock Performance vs the General Market since IPO
Stock Performance vs the General Market since IPO Average increase in common stock price since IPO has been 11.7% vs. S&P 500 of 7.7%. -200% 0% 200% 400% 600% 800% 1993 1995 1997 1999 2001 2003 2004 2006 2008 BANF S&P 500
Slide 31: Summary
Summary Strong Capital Exceptional Liquidity Consistent Management No TARP No FHLB Borrowings Opportunities Expand Market Share – Oklahoma Enter New Markets – Contiguous States Stock Buyback
Slide 32: Forward-Looking Statements
Forward-Looking Statements This 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 m
Slide 33: Bancfirst
Bancfirst