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Exhibit 99.1 BANCFIRST CORPORATION REPORTS THIRD QUARTER EARNINGS OKLAHOMA CITY , October 21 , 2021 / PRNewswire / -- BancFirst Corporation ( NASDAQ GS : BANF ) reported net income of $ 38.8 million , or $ 1.16 diluted earnings per share , for the third quarter of 2021 compared to net income of $ 20.9 million , or $ 0.63 diluted earnings per share , for the third quarter of 2020. The Company recorded a provision for credit losses of $ 1.5 million for the three months ended September 30 , 2021 compared to a provision for credit losses of $ 18.7 million for the three months ended September 30 , 2020. Net income for the nine months ended September 30 , 2021 was $ 129.5 million , or $ 3.88 diluted earnings per share , compared to $ 64.2 million , or $ 1.94 diluted earnings per share , for the nine months ended September 30 , 2020 . The Company recorded a net benefit from reversal of provisions for credit losses of $ 8.5 million for the nine months ended September 30 , 2021 compared to a provision for credit losses of $ 57.7 million for the nine months ended September 30 , 2020 . BancFirst Corporation Executive Chairman David Rainbolt commented , " Recently , COVID cases have begun to decline in Oklahoma , but continue to impact some businesses . As a result , our revised quarterly economic scenario supports a stable reserve . Consequently , the provision was very slight this quarter . We would anticipate the economic effects of the pandemic to wane more rapidly over the next quarter which would imply a lower reserve going forward . " The Company's net interest income for the third quarter of 2021 increased to $ 80.2 million compared to $ 75.9 million for the third quarter of 2020 , as a result of an increase of $ 6.1 million in fee income from Paycheck Protection Program ( PPP ) loan forgiveness . The net interest margin for the quarter was 3.09 % compared to 3.40 % a year ago . Noninterest income for the quarter totaled $ 39.8 million , compared to $ 34.6 million last year . The increase in noninterest income was attributable to $ 2.9 million in rental income from other real estate property , a $ 2.1 million increase in income from debit card interchange fees and a $ 1.5 million increase in insurance commissions . Noninterest expense for the quarter increased to $ 70.2 million compared to $ 66.1 million last year , because of the increase in approximately $ 2.0 million related to other real estate property operating costs and $ 1.0 million in net occupancy and depreciation primarily from the Company's new corporate headquarters . The Company's effective tax rate was 19.7 % compared to 18.4 % for the third quarter of 2020 . At September 30 , 2021 , the Company's total assets were $ 11.3 billion , an increase of $ 2.1 billion from December 31 , 2020. Loans totaled $ 6.0 billion , a decrease of $ 410.3 million from December 31 , 2020 stemming from a net decrease of approximately $ 451.5 million in PPP loans and approximately $ 21 million of loans that were sold with the Company's Hugo , Oklahoma branch , which were partially offset by approximately $ 149 million of acquired loans from the First National Bank and Trust Company of Vinita , Oklahoma . Deposits totaled $ 10.0 billion , an increase of $ 1.9 billion from December 31 , 2020 . The increase in assets and deposits was predominantly related to PPP and other government stimulus payments . At September 30 , 2021 , the balance of PPP loans was $ 201.2 million . The Company's total stockholders ' equity was $ 1.1 billion , an increase of $ 79.0 million over December 31 , 2020. Off - balance sheet sweep accounts totaled $ 2.7 billion at September 30 , 2021 compared to $ 2.8 billion at December 31 , 2020 . Nonaccrual loans represent 0.44 % of total loans at September 30 , 2021 , down from 0.58 % at year - end 2020. Net charge - offs for the quarter were 0.01 % of average loans , compared to 0.03 % in the third quarter of 2020. The allowance for credit losses to total loans was 1.43 % at September 30 , 2021 compared to 1.42 % at year - end 2020 , and the allowance for credit losses to nonaccrual loans was 324.96 % compared to 243.35 % at year - end 2020. At September 30 , 2021 , the Company's nonaccrual loans decreased $ 10.9 million from year - end 2020 , as a result of the resolution of several loans , which was offset by $ 7.2 million of nonaccrual loans acquired from The First National Bank and Trust Company of Vinita , Oklahoma . At September 30 , 2021 , the Company's other real estate owned ( OREO ) increased $ 6.8 million from December 31 , 2020 , and included approximately $ 4.0 million from the repossession of one commercial real estate property , $ 2.4 million from the decommissioning of the Company's previous headquarters , and approximately $ 600,000 acquired from The First National Bank and Trust Company of Vinita , Oklahoma . BancFirst Corporation CEO David Harlow commented , " Fees related to ongoing PPP loan forgiveness and a year - to - date negative provision have allowed for outsized EPS through the first nine months of the year . For the remainder of this year and into 2022 , our challenge will be to grow loans and stabilize our margin while continuing to build upon and expand our non - interest and fee based revenues . ” BancFirst Corporation ( the Company ) is an Oklahoma based financial services holding company . The Company operates two subsidiary banks , BancFirst , an Oklahoma state - chartered bank with 108 banking locations serving 59 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 1