BancFirst (BANF) Announces Final Results of Tender Offer; Increases Quarterly Dividend

September 10, 2007 5:55 PM EDT

BancFirst Corporation (Nasdaq: BANF) announced the final results of its modified "Dutch Auction" tender offer, which expired at 5:00 P.M., Eastern Time, on Tuesday, September 4, 2007.

BancFirst Corporation has accepted for purchase 539,453 shares of its common stock at a price per share of $45.00, including all "odd lots" properly tendered and not withdrawn. The tender offer was for up to 500,000 shares, with an option to purchase up to an additional 2% of the outstanding shares. At expiration, 539,453 shares were validly tendered and not withdrawn, and BancFirst exercised its option to purchase the additional shares. These shares represent approximately 3.4% of BancFirst Corporation's currently outstanding shares. Payment for the tendered shares is expected to be made promptly.

Separately, BancFirst Corporation announced that its Board of Directors approved a $0.20 per share cash dividend on its common stock. The dividend is payable October 15, 2007 to shareholders of record on September 30, 2007. This is an increase of 11.1% over the quarterly dividend that was paid in each of the previous four quarters. Since going public in 1993, the company has increased the dividend by more than 10% each year.

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