Stockholders' Equity

9 Months Ended

Sep. 30, 2011

Stockholders' Equity [Abstract]

Stockholders' Equity

(10) STOCKHOLDERS' EQUITY

In November 1999, the Company adopted a Stock Repurchase Program (the "SRP"). The SRP may be used as a means to increase earnings per share and return on equity, to purchase treasury stock for the exercise of stock options or for distributions under the Deferred Stock Compensation Plan, to provide liquidity for optionees to dispose of stock from exercises of their stock options, and to provide liquidity for shareholders wishing to sell their stock. The timing, price and amount of stock repurchases under the SRP may be determined by management and approved by the Company's Executive Committee. At September 30, 2011 there were 263,834 shares remaining that could be repurchased under the SRP.

The following table is a summary of the shares repurchased under the program:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2011		2010		2011		2010
Number of shares repurchased		162,890		16,500		280,066		16,500
Average price of shares repurchased	$	34.56	$	36.69	$	35.89	$	36.69

The Company and BancFirst are subject to risk-based capital guidelines issued by the Board of Governors of the Federal Reserve System and FDIC. These guidelines are used to evaluate capital adequacy and involve both quantitative and qualitative evaluations of the Company's and BancFirst's assets, liabilities, and certain off-balance-sheet items calculated under regulatory practices. Failure to meet the minimum capital requirements can initiate certain mandatory or discretionary actions by the regulatory agencies that could have a direct material effect on the Company's financial statements. Management believes, as of September 30, 2011, that the Company and BancFirst met all capital adequacy requirements to which they are subject. The required capital amounts and the Company's and BancFirst's respective ratios are shown in the following table:

	Actual					For Capital Adequacy Purposes					To Be Well Capitalized Under Prompt Corrective Action Provisions
	Amount		Ratio			Amount		Ratio			Amount		Ratio
	(Dollars in thousands)
As of September 30, 2011:
Total Capital
(to Risk Weighted Assets)-
BancFirst Corporation	$	479,559		14.52	%	$	265,025		8.00	%		N/A		N/A
BancFirst		453,249		14.56	%		249,005		8.00	%	$	311,256		10.00	%
Tier 1 Capital
(to Risk Weighted Assets)-
BancFirst Corporation	$	442,103		13.39	%	$	132,512		4.00	%		N/A		N/A
BancFirst		415,961		13.36	%		124,502		4.00	%	$	186,753		6.00	%
Tier 1 Capital
(to Total Assets)-
BancFirst Corporation	$	442,103		8.17	%	$	164,169		3.00	%		N/A		N/A
BancFirst		415,961		8.08	%		155,809		3.00	%	$	259,682		5.00	%

As of September 30, 2011, BancFirst was considered to be "well capitalized". To be well capitalized under federal bank regulatory agency definitions, a depository institution must have a Tier 1 Ratio of at least 6%, a combined Tier 1 and Tier 2 Ratio of at least 10%, and a Leverage Ratio of at least 5%. There are no conditions or events since the most recent notification of BancFirst's capital category that management believes would change its category.