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BancFirst Q1 net income up

BancFirst has reported net income of $11.6 million or $0.74 diluted earnings per share for the first quarter of 2008, compared to $11.1 million or $0.69 diluted earnings per share for the same period of 2007.

The company’s net interest income for Q1 2008 was $35.4 million, compared to $36.4 million for Q1 2007. The net interest margin was 4.24%, compared to 4.75% in the first quarter of 2007.

Total earning assets for the company averaged $3.4 billion in the first quarter of 2008, up $214 million, or 6.8%, from the same period of 2007. Total loans were up $165 million, or 7.1%, compared to Q1 2007. Non-interest expense for the first quarter of 2008 totaled $32.9 million, compared to $33.4 million for the same period of 2007.