BancFirst Corporation is an Oklahoma-based financial services holding company. The company operates three subsidiary banks, BancFirst, an Oklahoma state-chartered bank; and Pegasus Bank and Worthington Bank, both Texas state-chartered banks.
History
The roots of BancFirst date back to 1966, when lead investor and Chairman H.E. "Gene" Rainbolt purchased Federal National Bank in Shawnee, Oklahoma.[2] Federal National had $16 million in assets at the time of purchase.[3] Throughout the 1970s, Rainbolt acquired interests in many rural Oklahoma banks and formed Thunderbird Financial Corporation to assist each bank with management services.[4] In 1985, Rainbolt's banks in seven communities were brought under the ownership of United Community Corporation.[5]
On April 1, 1989, BancFirst was formed and established its corporate headquarters in downtown Oklahoma City. Changes in Oklahoma's banking laws that allowed multiple banks to merge in such a fashion were largely due to Rainbolt's efforts to modernize the law.