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BANF > SEC Filings for BANF > Form 8-K on 27-Jan-2014All Recent SEC Filings

Show all filings for BANCFIRST CORP /OK/



Regulation FD Disclosure, Financial Statements and Exhibits

Item 7.01 Regulation FD Disclosure

On January 24, 2014, BancFirst, a wholly-owned subsidiary of BancFirst Corporation, announced that it had entered into a purchase and assumption agreement, without loss sharing, with the Federal Deposit Insurance Corporation (FDIC), to assume all of the deposits and purchase certain assets of The Bank of Union, El Reno, Oklahoma ("The Bank of Union"). The Bank of Union was closed on that day by the Oklahoma State Banking Department.

At the time of the closing, The Bank of Union had total deposits of approximately $302 million that were assumed by BancFirst. BancFirst initially purchased approximately $121 million of loans, the majority of which were classified as performing, $4.8 million of securities, and only $10,000 of other real estate. Its bid included a discount for the loans purchased and no material amount of gain is expected to be recognized. A copy of the purchase and assumption agreement is available on the FDIC's web site.

BancFirst had bid on, but was generally not awarded, loans that were classified as nonperforming.

A copy of BancFirst's press release is furnished as Exhibit 99.1 to this report and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(c) Exhibits.

  Exhibit No. Description

  99.1        Press Release, dated January 24, 2014, issued by BancFirst titled
              "BancFirst Assumes Operations of the former Bank of Union in El
              Reno, Oklahoma."


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