Walter Bibikow I didn't see much value in BancFirst (NASDAQ:BANF) when I opened on this Oklahoma-based bank last year. To quickly recap, BancFirst has a nice deposit base and earns above-average returns on tangible equity ("ROTE"), but ultimately the stock was trading for 2.4x tangible book value, and that looked rich given the numerous headwinds it was facing. As it happens, these shares have actually done quite well since then, lifted by the broader rally in regional bank stocks. While the bank has un ...