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Exhibit 99.1 BANCFIRST CORPORATION REPORTS SECOND QUARTER EARNINGS OKLAHOMA CITY , July 15 , 2021 / PRNewswire / -- BancFirst Corporation ( NASDAQ GS : BANF ) reported net income of $ 48.2 million , or $ 1.45 diluted earnings per share , for the second quarter of 2021 compared to net income of $ 20.7 million , or $ 0.63 diluted earnings per share , for the second quarter of 2020. Net income for the six months ended June 30 , 2021 was $ 90.7 million , or $ 2.72 per share , compared to $ 43.3 million , or $ 1.31 per share , for the first half of 2020. The Company recorded a net benefit from reversal of provisions for credit losses of $ 9.9 million for both the second quarter and first half of 2021 compared to a provision for credit losses of $ 19.3 million for the second quarter of 2020 and $ 38.9 million for the first half of 2020. Also included in noninterest income and noninterest expense were a purchase gain and acquisition related expenses from the purchase and assumption transaction with The First National Bank and Trust Company of Vinita , Oklahoma , which resulted in a net benefit of approximately $ 2.0 million . BancFirst Corporation Executive Chairman David Rainbolt commented , “ There has been a 180 degree change in the perception of our economic direction from the second quarter of last year . The massive provisions in 2020 precipitated by the unknown consequences of the pandemic have given way to a stimulus driven economic turnaround both nationally and in Oklahoma . Although some caution remains regarding the sustainability of the recovery and possible effects of virus variants , we would anticipate more modest reserve reversals in the next quarter or two . " The Company's net interest income for the second quarter of 2021 increased to $ 82.4 million compared to $ 77.2 million for the second quarter of 2020 , due primarily to $ 11.9 million in fee income from Paycheck Protection Program ( PPP ) loan forgiveness . The net interest margin for the quarter was 3.32 % compared to 3.54 % a year ago . Noninterest income for the quarter totaled $ 44.6 million , compared to $ 32.1 million last year . The increase in noninterest income was due to the aforementioned purchase gain for The First National Bank and Trust Company of Vinita , Oklahoma , $ 2.2 million in rental income from other real estate property , and a $ 2.7 million increase in income from debate card interchange fees . Noninterest expense for the quarter increased to $ 74.0 million compared to $ 64.7 million last year , due to approximately $ 3.4 million related to other real estate property management costs , the aforementioned acquisition related expenses , and $ 1.3 million in net occupancy and depreciation from the Company's new corporate headquarters . The Company's effective tax rate was 23.4 % compared to 18.1 % for the second quarter of 2020 . At June 30 , 2021 , the Company's total assets were $ 11.0 billion , an increase of $ 1.8 billion from December 31 , 2020. Loans totaled $ 6.2 billion , a decrease of $ 241.0 million from December 31 , 2020 due primarily to a net decrease of approximately $ 284 million in PPP loans and approximately $ 21 million of loans that were sold with the Company's Hugo , Oklahoma branch . Deposits totaled $ 9.7 billion , an increase of $ 1.7 billion from December 31 , 2020. The increase in assets and deposits was primarily related to PPP and other government stimulus payments . At June 30 , 2021 , the balance of PPP loans was $ 368.6 million . The Company's total stockholders ' equity was $ 1.1 billion , an increase of $ 63.7 million over December 31 , 2020. Off - balance sheet sweep accounts totaled $ 2.6 billion at June 30 , 2021 compared to $ 2.8 billion at December 31 , 2020 . Nonaccrual loans represent 0.48 % of total loans at June 30 , 2021 , down from 0.58 % at year - end 2020. Net charge - offs for the quarter were 0.06 % of average loans , compared to none in the second quarter of 2020. The allowance for credit losses to total loans was 1.35 % at June 30 , 2021 compared to 1.42 % at year - end 2020 , and the allowance for credit losses to nonaccrual loans was 281.73 % compared to 243.35 % at year - end 2020. At June 30 , 2021 , the Company's nonaccrual loans decreased $ 7.7 million from year - end 2020 , due to resolutions of several loans , which was slightly offset by $ 7.3 million of nonaccrual loans acquired from The First National Bank and Trust Company of Vinita , Oklahoma . At June 30 , 2021 , the Company's other real estate owned ( OREO ) increased $ 8.0 million from December 31 , 2020 , and included approximately $ 4.0 million due to the repossession of one commercial real estate property , $ 2.4 million from the decommissioning of the Company's previous headquarters , and $ 2.5 million acquired from The First National Bank and Trust Company of Vinita , Oklahoma . On June 17 , 2021 , the Company completed a private placement , under Regulation D of the Securities Act of 1933 , of $ 60 million aggregate principal amount of 3.50 % Fixed - to - Floating Rate Subordinated Notes due 2036 ( the “ Subordinated Notes " ) to various institutional accredited investors . The Subordinated Notes have been structured to qualify as Tier 2 capital under bank regulatory guidelines . The net proceeds to the Company from the sale of the Subordinated Notes was approximately $ 59.15 million after deducting commissions and offering expenses . The Company expects to use the proceeds from the sale of the Subordinated Notes for general corporate purposes . On May 20 , 2021 , the Company completed the purchase and assumption transaction 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 had banking locations in Vinita and Grove , Oklahoma . These banking locations became branches of BancFirst . The Company purchased approximately $ 284 million in total assets , $ 195 million in loans , and $ 256 million in deposits . BancFirst Corporation CEO David Harlow commented , " The story for the quarter and for the first six months of the year is the reversal of loan loss reserve compared to significant provisions in the first half of 2020 in addition to the continued realization of PPP loan fees as a result of ongoing PPP loan forgiveness . Our margin ( absent non - recurring PPP loan fees ) continues to be under pressure as government 1