BancFirst Q1 net income $35.9M ($1.08 EPS) vs $42.5M ($1.27) prior year; Worthington acquisition closed

BANCFIRST CORP /OK/

2022-Q1 EPS reported $1.08

Net income $35.9M, diluted EPS $1.08, down from $42.5M ($1.27) in Q1 2021.
Net interest margin fell to 2.78% from 3.36% due to $8.1M decline in PPP fee income.
Provision for credit losses $2.9M vs zero; noninterest expense rose $7.5M to $72.5M.
Acquired Worthington National Bank (assets $488M, loans $261M, deposits $430M) on Feb 8, 2022.
Total assets $12.6B, up $3.2B; loans $6.5B, up $313.8M; nonaccrual loans improved to 0.27%.

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