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Exhibit 99.1 BANCFIRST CORPORATION REPORTS FIRST QUARTER EARNINGS OKLAHOMA CITY , April 15 , 2021 / PRNewswire / -- BancFirst Corporation ( NASDAQ GS : BANF ) reported net income of $ 42.5 million , or $ 1.27 diluted earnings per share , for the first quarter of 2021 compared to net income of $ 22.6 million , or $ 0.68 diluted earnings per share , for the first quarter of 2020. For the first quarter of 2021 , no provision for credit losses was recorded , compared to a provision for credit losses of $ 19.6 million for the first quarter of 2020 . BancFirst Corporation Executive Chairman David Rainbolt commented , " Clearly the worst case scenarios for credit losses resulting from the pandemic are off the table . The consequence is that large reserve balances from last year's provisions do not need to be augmented . Moreover , if the economy continues to progress , we will likely see reversal of those provisions to some degree over the balance of the year . ' The Company's net interest income for the first quarter of 2021 increased to $ 77.2 million compared to $ 74.1 million for the first quarter of 2020. Net interest income increased for the first quarter of 2021 due to loan growth , PPP fee income of approximately $ 9.5 million and the decrease in interest rates paid on deposits . The net interest margin for the quarter was 3.36 % compared to 3.82 % a year ago . Noninterest income for the quarter totaled $ 39.9 million , compared to $ 35.1 million last year . The increase in noninterest income was due to a gain from the sale of the Company's Hugo , Oklahoma branch of $ 2.5 million , $ 2.4 million in rental income from a real estate property foreclosed on in the fourth quarter of 2020 , and a $ 1.2 million increase in income from sales of mortgage loans , which were partially offset by a $ 1.3 million decrease in treasury management income . Noninterest expense for the quarter increased to $ 65.0 million compared to $ 61.4 million last year because of $ 1.4 million of expenses related to the aforementioned foreclosed property , and a $ 2.2 million gain on the sale of other real estate owned in the first quarter of 2020 that reduced noninterest expense . The Company's effective tax rate was 18.5 % compared to 20.0 % for the first quarter of 2020 . At March 31 , 2021 , the Company's total assets were $ 10.5 billion , an increase of $ 1.3 billion from December 31 , 2020. Debt securities of $ 520.5 million were down $ 34.7 million from December 31 , 2020. Loans totaled $ 6.4 billion , a decrease of $ 68.1 million from December 31 , 2020 partially due to approximately $ 21 million of loans that were sold with the Company's Hugo , Oklahoma branch . Deposits totaled $ 9.4 billion , an increase of $ 1.3 billion from December 31 , 2020. The increase in assets and deposits was primarily related to the Paycheck Protection Program ( PPP ) and other government stimulus payments . At March 31 , 2021 , the balance of the PPP loans was $ 713.7 million . The Company's total stockholders ' equity was $ 1.1 billion , an increase of $ 26.8 million over December 31 , 2020. Off - balance sheet sweep accounts were $ 2.2 billion at March 31 , 2021 compared to $ 2.7 billion at December 31 , 2020 . Nonaccrual loans represent 0.55 % of total loans at March 31 , 2021 , down from 0.58 % at year - end 2020. Net charge - offs for the quarter were 0.01 % of average loans , compared to 0.02 % of average loans for the first quarter of 2020. The allowance for credit losses to total loans was 1.42 % at both March 31 , 2021 and year - end 2020 , and the allowance for credit losses to nonaccrual loans was 257.20 % compared to 243.35 % at year - end 2020 . On February 19 , 2021 , the Company entered into a purchase and assumption agreement with The First National Bank and Trust Company of Vinita , Oklahoma to purchase certain of its assets and assume its deposits and certain other obligations . The First National Bank and Trust Company of Vinita is a nationally chartered bank with banking locations in Vinita and Grove , Oklahoma . These banking locations would become branches of BancFirst . As of December 31 , 2020 , The First National Bank and Trust Company of Vinita had approximately $ 285 million in total assets , $ 209 million in loans , and $ 258 million in deposits . The purchase and assumption is expected to be completed during the second quarter of 2021 and is subject to regulatory approval . BancFirst Corporation CEO David Harlow commented , “ Government stimulus continued to inject liquidity into the economy and drive deposit totals materially higher . Absent PPP , overall loan demand continues to be soft . PPP fees generated from both round 1 and round 2 bolstered net interest income while both core non - interest income and core non - interest expense were essentially flat . With zero provision for the quarter compared to $ 19.6 million a year ago , a nominally strong quarter at $ 1.28 per share is the result . " BancFirst Corporation ( the Company ) is an Oklahoma based financial services holding company . The Company operates two subsidiary banks , BancFirst , is Oklahoma's largest state - chartered bank with 106 banking locations serving 58 communities across Oklahoma , and Pegasus Bank , with 3 banking locations in Dallas , TX . More information can be found at www.bancfirst.bank . The Company may make 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 , credit quality , corporate objectives , interest rates and other financial and business matters . Forward- looking statements include estimates and give management's current expectations or forecasts of future events . The Company cautions readers that these forward - looking statements are subject to numerous assumptions , risks and uncertainties , including economic conditions , the performance of financial markets and interest rates ; legislative and regulatory actions and reforms ; competition ; as well as other factors , all of which change over time . Actual results may differ materially from forward - looking statements . For additional information call : Kevin Lawrence , Chief Financial Officer at ( 405 ) 270-1003 or David Harlow , Chief Executive Officer at ( 405 ) 270-1082 . 1