BancFirst completes acquisition of SpiritBank in Oklahoma

BancFirst Corporation (NASDAQ:BANF) announced the completion of its acquisition of Spirit BankCorp, Inc. and SpiritBank, a privately held community bank based in Tulsa, Oklahoma. The transaction was finalized Thursday, according to a statement provided in a Securities and Exchange Commission filing.

SpiritBank, prior to the acquisition, reported approximately $866.8 million in total assets, $584.6 million in loans, and $776.4 million in deposits. The bank operated four locations in Tulsa, as well as branches in Sapulpa and Bristow, Oklahoma.BancFirst, with a market capitalization of $3.77 billion, has demonstrated consistent financial strength, having raised its dividend for 28 consecutive years. According to InvestingPro analysis, the stock currently appears undervalued relative to its Fair Value, with shares trading at a P/E ratio of 14.85. The platform offers access to over 10 additional ProTips for BANF investors.

Following the acquisition, SpiritBank was merged into BancFirst. BancFirst Corporation is headquartered in Oklahoma City, Oklahoma.

This information is based on a press release statement included in a recent SEC filing.

In other recent news, BancFirst Corporation announced a quarterly cash dividend of $0.52 per share on its common stock, payable on October 15, 2026, to shareholders of record as of September 30, 2026. Additionally, the company will make a quarterly interest payment on $26.8 million of its 7.20% Junior Subordinated Debentures, resulting in a dividend of $0.45 per share on the trust preferred securities. Keefe, Bruyette & Woods recently lowered its price target for BancFirst from $123 to $121 while maintaining a Market Perform rating. The firm noted that BancFirst’s second-quarter 2026 results exceeded both its own and consensus estimates, driven by better net interest income and fees. The net interest margin increased by 10 basis points due to stronger loan yields, and the fee beat was attributed to higher other fees. These developments provide investors with important insights into BancFirst’s recent performance and expectations.