BancFirst reports gains
BancFirst Corp., parent of Oklahoma's largest state-chartered bank, reported second-quarter profits of $12.6 million, or 81 cents per share, compared to net income of $11.7 million, or 76 cents per share, for the second quarter of 2012. Net income for the year to date was $26 million, compared to $25.7 million for the first half of 2012. Net interest income for the quarter was $40.6 million, compared to $40.9 million for the second quarter of 2012. BancFirst said its asset quality remained strong and was little changed from the previous quarters.
Mortgage rates decline
WASHINGTON — Average rates on U.S. fixed mortgages declined this week as concern waned in the financial markets over the Federal Reserve's possible slowing of its bond purchases this year. Mortgage buyer Freddie Mac says the average on the 30-year loan slipped to 4.37 percent. That's down from 4.51 percent last week but is still near the highest level in nearly two years. Just two months ago the rate was 3.35 percent, barely above the record low of 3.31 percent. Rates had surged in recent weeks amid concern over the Fed's bond purchases, which have kept interest rates low. The average on the 15-year mortgage fell to 3.41 percent from 3.53 percent.
From Staff and Wire Reports