BancFirst

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An Oklahoma-based banking and financial services group operating community banks in Oklahoma and Texas.

Last updated August 25, 2026

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First read: Nov 4, 2026
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Overview

BancFirst is an Oklahoma-based financial services holding company whose principal business is community banking. The group operates BancFirst, an Oklahoma state-chartered bank, together with Pegasus Bank and Worthington Bank, which are Texas state-chartered banks. Its business is built around a network-oriented regional banking model: it combines local banking relationships and community presence with centralized management, technology, and corporate support. The organization’s roots reach back to 1966, when H. E. “Gene” Rainbolt acquired Federal National Bank in Shawnee, Oklahoma. That institution reportedly had approximately $16 million in assets at the time. During the 1970s, Rainbolt expanded his interests by acquiring stakes in rural Oklahoma banks and creating Thunderbird Financial Corporation to provide management services across the affiliated institutions. In 1985, banks in seven communities were consolidated under United Community Corporation, an important step toward a more integrated holding-company structure. BancFirst itself was established on April 1, 1989, with corporate headquarters in downtown Oklahoma City. Its formation followed changes to Oklahoma banking law that made it possible to combine multiple banks under a structure of this kind. Rainbolt was associated with efforts to modernize the state’s banking framework, and the resulting model allowed the group to preserve local-market banking operations while coordinating them through a larger organization. David Rainbolt became chief executive officer in 1992 and led the company through its initial public offering in 1993. BancFirst began trading on the Nasdaq under the symbol BANF. During his leadership, the company expanded through more than 35 bank acquisitions, broadening its presence across Oklahoma and later extending its operating footprint into Texas. David Rainbolt became chairman in 2017. David Harlow is identified as the current chief executive officer of BancFirst Corporation. The company’s operating footprint is concentrated in Oklahoma. The bank serves 60 Oklahoma communities in 32 of the state’s 77 counties and maintains more than 100 service locations. Its ATM network includes more than 350 machines statewide, including ATMs located in Oklahoma Walgreens stores. The group also operates through its Texas bank subsidiaries, Pegasus Bank and Worthington Bank. BancFirst’s offerings are typical of a full-service regional bank and include deposit accounts, lending, payment and transaction services, treasury-related services, and other financial services for consumers, businesses, and communities. Its positioning emphasizes local decision-making and relationship banking supported by the scale of a publicly traded financial institution. As of March 31, 2025, the company reported approximately $14 billion in assets and $12.1 billion in deposits, according to the referenced Wikipedia article. These figures describe the company at that date and should not be treated as current without a newer filing or company disclosure.

History

BancFirst’s institutional history began in 1966, when H. E. “Gene” Rainbolt purchased Federal National Bank in Shawnee, Oklahoma. The bank had approximately $16 million in assets at the time. Rainbolt subsequently acquired interests in a number of rural Oklahoma banks during the 1970s and established Thunderbird Financial Corporation to provide shared management services to those institutions. In 1985, Rainbolt’s banks in seven communities were placed under United Community Corporation. This arrangement provided a common ownership and management framework while retaining a presence in individual local markets. The development of this structure was connected with broader changes in Oklahoma banking regulation. Rainbolt supported modernization of state banking law, including changes that made it possible for multiple banks to be combined under a broader holding-company organization. On April 1, 1989, BancFirst was formed and established its corporate headquarters in downtown Oklahoma City. The new organization represented a formal transition from a collection of affiliated local banks toward a unified regional financial group. Its strategy continued to rely on local-market banking, but with centralized corporate capabilities and a platform for further acquisitions. David Rainbolt became chief executive officer in 1992. Under his leadership, the company expanded its banking presence through more than 35 acquisitions. BancFirst also entered the public markets in 1993 through an initial public offering, after which its shares began trading on Nasdaq under the symbol BANF. The listing gave the company access to public equity markets while preserving its focus on regional banking expansion. David Rainbolt became chairman in 2017 after leading the company for many years. David Harlow is identified as the current chief executive officer of BancFirst Corporation. The group now operates BancFirst in Oklahoma and Pegasus Bank and Worthington Bank in Texas. BancFirst serves 60 Oklahoma communities in 32 counties and maintains more than 100 service locations, supported by a statewide network of more than 350 ATMs. As of March 31, 2025, the referenced material reported approximately $14 billion in assets and $12.1 billion in deposits.

2025
Reported scale as of March 31
[1]BancFirsten.wikipedia.org
The referenced material reported approximately $14 billion in assets and $12.1 billion in deposits as of March 31, 2025.
2017
David Rainbolt becomes chairman
[1]BancFirsten.wikipedia.org
After more than two decades as chief executive, David Rainbolt became chairman.
1993
Initial public offering
[1]BancFirsten.wikipedia.org
BancFirst completed an initial public offering and began trading on Nasdaq under the symbol BANF.
1992
David Rainbolt becomes chief executive
[1]BancFirsten.wikipedia.org
David Rainbolt became CEO and subsequently led a prolonged period of acquisition-driven expansion.
1989
BancFirst is established
[1]BancFirsten.wikipedia.org
BancFirst was formed on April 1, 1989, with headquarters in downtown Oklahoma City.
1985
Banks consolidated under United Community Corporation
[1]BancFirsten.wikipedia.org
Banks operating in seven communities were brought under the ownership of United Community Corporation, creating a broader structure for coordinated banking operations.
1970
Expansion across rural Oklahoma
[1]BancFirsten.wikipedia.org
During the 1970s, Rainbolt acquired interests in multiple rural Oklahoma banks and created Thunderbird Financial Corporation to provide management services.
1966
Rainbolt acquires Federal National Bank
[1]BancFirsten.wikipedia.org
H. E. "Gene" Rainbolt purchased Federal National Bank in Shawnee, Oklahoma, establishing the foundation of the organization’s later banking group.

Products and positioning

A relationship-oriented regional banking group that combines community-bank presence in local markets with the scale and centralized resources of a publicly listed financial holding company.

Retail banking
Consumer banking
BancFirst’s community banking operations serve individual customers through local branches, ATMs, deposit services, transaction accounts, and consumer financial products. The available reference material identifies the company as a full-service banking organization, but does not provide a complete product catalog or detailed terms for individual accounts.
Commercial banking
Business and commercial banking
The group provides banking support to businesses and local communities through its regional bank network. This category includes business deposits, lending, payment services, and related banking support, although the supplied reference does not enumerate specific commercial products or eligibility requirements.
Banking infrastructure
BancFirst branch and ATM network
BancFirst maintains more than 100 service locations and a network of over 350 ATMs across Oklahoma, including machines located in Oklahoma Walgreens stores. The network is a central part of the brand’s locally accessible community-banking proposition.
Subsidiary bank
Pegasus Bank
Pegasus Bank is one of BancFirst Corporation’s subsidiary banks and operates under a Texas state charter. The supplied material identifies it as part of the group but does not provide a detailed description of its individual markets or product range.
Subsidiary bank
Worthington Bank
Worthington Bank is a Texas state-chartered subsidiary bank within the BancFirst group. Further details about its history, geographic coverage, and customer proposition are not provided in the supplied reference.

Brand decisions

1993
Public-market listingOther
Background
After David Rainbolt became CEO, BancFirst pursued access to public capital markets.
Action taken
The company completed an initial public offering and began trading on Nasdaq under the symbol BANF.
Aftermath
BancFirst became a publicly traded regional banking company and continued expanding through bank acquisitions.
Source
1989
Creation of a unified regional banking groupStrategy
Background
Earlier acquisitions and shared-management structures had created a network of affiliated Oklahoma banks. Changes in Oklahoma banking law enabled a more integrated multi-bank organization.
Action taken
BancFirst was established on April 1, 1989, with corporate headquarters in Oklahoma City.
Aftermath
The new structure supported continued community-bank operations and later acquisition-led expansion.
Source
Acquisition-led expansionM&A
Background
The company used acquisitions as a principal means of broadening its community-banking footprint.
Action taken
Under David Rainbolt’s leadership, BancFirst completed more than 35 bank acquisitions over the years.
Aftermath
The group expanded its presence across Oklahoma and operates subsidiary banks in Texas.
Source

Recent events

2019.10.17
Reported2019.10.17
BancFirst Corporation reports third-quarter earnings[2]BancFirst Corporation公布第三季度业绩prnewswire.com
BancFirst Corporation reported net income of $33.4 million, or $1.00 diluted earnings per share, for the third quarter of 2019, compared with net income of $32.9 million, or $0.98 diluted earnings per share, for the third quarter of 2018.

Sources9 sources

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