10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2012

OR

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from                    to                    

Commission File Number 0-14384

BancFirst Corporation

(Exact name of registrant as specified in charter)

Oklahoma	73-1221379
(State or other Jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)
101 N. Broadway, Oklahoma City, Oklahoma	73102-8405
(Address of principal executive offices)	(Zip Code)

(405) 270-1086

(Registrant’s telephone number, including area code)

N/A

(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  x    No  ¨.

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (sec. 232-405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes  x    No  ¨.

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer. See definition of “accelerated filer and large accelerated filer” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	¨	Accelerated filer	x
Non-accelerated filer	¨  (Do not check if a smaller reporting company)	Smaller reporting company	¨

Indicate by check mark whether the registrant is a shell company (as defined by Rule 12b-2 of the Exchange Act).    Yes  ¨    No  x

As of July 31, 2012 there were 15,161,446 shares of the registrant’s Common Stock outstanding.

PART I – FINANCIAL INFORMATION

Item 1. Financial Statements.

BANCFIRST CORPORATION

CONSOLIDATED BALANCE SHEETS

(Dollars in thousands, except per share data)

	June 30, 2012			December 31, 2011			June 30, 2011
	(unaudited)			(see Note 1)			(unaudited)
ASSETS
Cash and due from banks	$	146,387		$	163,698		$	153,997
Interest-bearing deposits with banks		1,617,521			1,544,035			1,417,102
Federal funds sold		—			400			100
Securities (market value: $575,404, $615,458, and $580,630,respectively)		575,034			614,977			580,059
Loans:
Total loans (net of unearned interest)		3,065,439			3,013,498			2,861,844
Allowance for loan losses		(37,436	)		(37,656	)		(37,092	)
Loans, net		3,028,003			2,975,842			2,824,752
Premises and equipment, net		113,836			111,355			102,801
Other real estate owned		10,088			16,109			14,991
Intangible assets, net		13,158			14,219			10,857
Goodwill		44,545			44,545			44,593
Accrued interest receivable		17,532			18,662			19,863
Other assets		105,607			104,983			98,330
Total assets	$	5,671,711		$	5,608,825		$	5,267,445
LIABILITIES AND STOCKHOLDERS’ EQUITY
Deposits:
Noninterest-bearing	$	1,842,680		$	1,704,996		$	1,509,433
Interest-bearing		3,256,968			3,332,739			3,192,566
Total deposits		5,099,648			5,037,735			4,701,999
Short-term borrowings		6,340			8,274			1,400
Accrued interest payable		2,260			2,710			3,107
Long-term borrowings		11,329			18,476			32,121
Other liabilities		25,769			22,506			29,555
Junior subordinated debentures		26,804			36,083			28,866
Total liabilities		5,172,150			5,125,784			4,797,048
Commitments and contingent liabilities
Stockholders’ equity:
Senior preferred stock, $1.00 par; 10,000,000 shares authorized; none issued		—			—			—
Cumulative preferred stock, $5.00 par; 900,000 shares authorized; none issued		—			—			—
Common stock, $1.00 par, 20,000,000 shares authorized; shares issued and outstanding: 15,153,991, 15,117,430 and 15,273,181, respectively		15,154			15,118			15,273
Capital surplus		79,181			77,462			74,229
Retained earnings		398,267			381,017			371,150
Accumulated other comprehensive income, net of income tax of $3,746, $5,084 and $5,217, respectively		6,959			9,444			9,745
Total stockholders’ equity		499,561			483,041			470,397
Total liabilities and stockholders’ equity	$	5,671,711		$	5,608,825		$	5,267,445

The accompanying Notes are an integral part of these consolidated financial statements.

2

BANCFIRST CORPORATION

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Unaudited) (Dollars in thousands, except per share data)

	Three Months Ended June 30,						Six Months Ended June 30,
	2012			2011			2012			2011
INTEREST INCOME
Loans, including fees	$	41,857		$	40,256		$	83,817		$	79,513
Securities:
Taxable		2,087			3,011			4,494			6,637
Tax-exempt		411			602			835			1,232
Federal funds sold		—			20			1			41
Interest-bearing deposits with banks		1,061			886			2,034			1,661
Total interest income		45,416			44,775			91,181			89,084
INTEREST EXPENSE
Deposits		3,883			5,986			8,132			12,231
Short-term borrowings		8			3			16			7
Long-term borrowings		91			255			196			501
Junior subordinated debentures		565			525			1,151			1,050
Total interest expense		4,547			6,769			9,495			13,789
Net interest income		40,869			38,006			81,686			75,295
Provision for loan losses		248			2,013			421			2,801
Net interest income after provision for loan losses		40,621			35,993			81,265			72,494
NONINTEREST INCOME
Trust revenue		1,823			1,631			3,530			3,218
Service charges on deposits		11,031			10,449			21,638			20,201
Securities transactions		226			1,316			4,258			1,324
Income from sales of loans		766			420			1,338			872
Insurance commissions		2,803			2,471			5,796			4,893
Cash management		2,041			1,927			3,980			3,692
Gain (loss) on sale of other assets		323			(5	)		343			4
Other		1,351			1,470			2,918			3,205
Total noninterest income		20,364			19,679			43,801			37,409
NONINTEREST EXPENSE
Salaries and employee benefits		24,830			22,557			49,630			44,369
Occupancy and fixed assets expense, net		2,477			2,411			4,923			4,862
Depreciation		2,226			1,889			4,357			3,793
Amortization of intangible assets		457			377			914			754
Data processing services		1,158			1,168			2,441			2,418
Net expense from other real estate owned		922			775			1,169			(131	)
Marketing and business promotion		1,679			1,653			3,334			3,191
Deposit insurance		724			764			1,443			2,190
Other		8,090			8,016			16,389			14,561
Total noninterest expense		42,563			39,610			84,600			76,007
Income before taxes		18,422			16,062			40,466			33,896
Income tax expense		(6,693	)		(5,947	)		(14,732	)		(12,426	)
Net income	$	11,729		$	10,115		$	25,734		$	21,470
NET INCOME PER COMMON SHARE
Basic	$	0.77		$	0.66		$	1.70		$	1.40
Diluted	$	0.76		$	0.65		$	1.67		$	1.37
OTHER COMPREHENSIVE INCOME
Unrealized gains (losses) on securities, net of tax of $292, $(1,034), $610 and $(959), respectively	$	(541	)	$	1,976		$	(1,132	)	$	1,784
Reclassification adjustment for gains included in net income, net of tax of $5, $293, $728 and $293, respectively		(11	)		(544	)		(1,353	)		(544	)
Other comprehensive income (loss), net of tax of $297, $(741), $1,338 and $(666), respectively		(552	)		1,432			(2,485	)		1,240
Comprehensive income	$	11,177		$	11,547		$	23,249		$	22,710

The accompanying Notes are an integral part of these consolidated financial statements.

3

BANCFIRST CORPORATION

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY

(Unaudited)

(Dollars in thousands, except per share data)

	Three Months Ended June 30,						Six Months Ended June 30,
	2012			2011			2012			2011
COMMON STOCK
Issued at beginning of period	$	15,145		$	15,390		$	15,118		$	15,369
Shares issued		16			—			43			21
Shares acquired and canceled		(7	)		(117	)		(7	)		(117	)
Issued at end of period	$	15,154		$	15,273		$	15,154		$	15,273
CAPITAL SURPLUS
Balance at beginning of period	$	78,420		$	73,935		$	77,462		$	73,040
Common stock issued		267			—			722			474
Tax effect of stock options		137			23			199			69
Stock-based compensation arrangements		357			271			798			646
Balance at end of period	$	79,181		$	74,229		$	79,181		$	74,229
RETAINED EARNINGS
Balance at beginning of period	$	390,881		$	369,189		$	381,017		$	361,680
Net income		11,729			10,115			25,734			21,470
Dividends on common stock		(4,094	)		(3,848	)		(8,235	)		(7,694	)
Common stock acquired and canceled		(249	)		(4,306	)		(249	)		(4,306	)
Balance at end of period	$	398,267		$	371,150		$	398,267		$	371,150
ACCUMULATED OTHER COMPREHENSIVE INCOME
Unrealized gains (losses) on securities:
Balance at beginning of period	$	7,511		$	8,313		$	9,444		$	8,505
Net change		(552	)		1,432			(2,485	)		1,240
Balance at end of period	$	6,959		$	9,745		$	6,959		$	9,745
Total stockholders’ equity	$	499,561		$	470,397		$	499,561		$	470,397

The accompanying Notes are an integral part of these consolidated financial statements.

4

BANCFIRST CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW

(Unaudited)

(Dollars in thousands)

	Six Months Ended June 30,
	2012			2011
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	25,734		$	21,470
Adjustments to reconcile to net cash provided by operating activities:
Provision for loan losses		421			2,801
Depreciation and amortization		5,271			4,547
Net amortization of securities premiums and discounts		782			2,558
Realized securities gains		(4,258	)		(1,324	)
Gain on sales of loans		(1,338	)		(872	)
Cash receipts from the sale of loans originated for sale		103,117			75,562
Cash disbursements for loans originated for sale		(106,365	)		(74,175	)
Deferred income tax benefit		(132	)		(1,309	)
Gains on other assets		(288	)		(1,058	)
Decrease in interest receivable		1,130			2,051
Decrease in interest payable		(450	)		(128	)
Amortization of stock-based compensation arrangements		798			646
Other, net		5,085			4,076
Net cash provided by operating activities		29,507			34,845
INVESTING ACTIVITIES
Net decrease in Federal funds sold		400			41,107
Purchases of securities:
Held for investment		(2,525	)		(6,400	)
Available for sale		(41,330	)		(32,183	)
Maturities of securities:
Held for investment		2,831			2,755
Available for sale		70,033			134,557
Proceeds from sales and calls of securities:
Held for investment		2,417			2
Available for sale		8,129			65,478
Purchases of loans		(17,255	)		(26,847	)
Proceeds from sales of loans		16,872			3,226
Net other increase in loans		(49,192	)		(32,286	)
Purchases of premises, equipment and computer software		(7,015	)		(8,135	)
Proceeds from the sale of other assets		7,213			12,196
Net cash (used in) provided by investing activities		(9,422	)		153,470
FINANCING ACTIVITIES
Net increase in demand, transaction and savings deposits		112,565			215,139
Net decrease in time deposits		(50,652	)		(16,894	)
Net decrease in short-term borrowings		(1,934	)		(5,850	)
Paydown of long-term borrowings		(7,147	)		(2,144	)
Redemption of junior subordinated debentures		(9,279	)		—
Issuance of common stock		964			564
Common stock acquired		(256	)		(4,423	)
Cash dividends paid		(8,171	)		(7,687	)
Net cash provided by financing activities		36,090			178,705
Net increase in cash, due from banks and interest-bearing deposits		56,175			367,020
Cash, due from banks and interest-bearing deposits at the beginning of the period		1,707,733			1,204,079
Cash, due from banks and interest-bearing deposits at the end of the period	$	1,763,908		$	1,571,099
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid during the period for interest	$	9,946		$	13,917
Cash paid during the period for income taxes	$	13,775		$	14,000

The accompanying Notes are an integral part of these consolidated financial statements.

5

BANCFIRST CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

(1) DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The accounting and reporting policies of BancFirst Corporation and its subsidiaries (the “Company”) conform to generally accepted accounting principles and general practice within the banking industry. A summary of significant accounting policies can be found in Footnote (1) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2011.

Basis of Presentation

The accompanying consolidated financial statements include the accounts of BancFirst Corporation, Council Oak Partners, LLC, BancFirst Insurance Services, Inc., and BancFirst and its subsidiaries. The principal operating subsidiaries of BancFirst are Council Oak Investment Corporation, Council Oak Real Estate, Inc., BancFirst Agency, Inc., and BancFirst Community Development Corporation. All significant intercompany accounts and transactions have been eliminated. Assets held in a fiduciary or agency capacity are not assets of the Company and, accordingly, are not included in the consolidated financial statements.

The accompanying consolidated financial statements and notes are presented in accordance with the instructions for Form 10-Q. The information contained in the financial statements and footnotes included in BancFirst Corporation’s Annual Report on Form 10-K for the year ended December 31, 2011, should be referred to in connection with these unaudited interim consolidated financial statements.

The unaudited interim consolidated financial statements contained herein reflect all adjustments which are, in the opinion of management, necessary to provide a fair statement of the financial position and results of operations of the Company for the interim periods presented. All such adjustments are of a normal and recurring nature. There have been no significant changes in the accounting policies of the Company since December 31, 2011, the date of the most recent annual report.

Use of Estimates in the Preparation of Financial Statements

The preparation of financial statements in conformity with accounting principles generally accepted in the United States inherently involves the use of estimates and assumptions that affect the amounts reported in the financial statements and the related disclosures. These estimates relate principally to the determination of the allowance for loan losses, income taxes, the fair value of financial instruments and the valuation of intangibles. Such estimates and assumptions may change over time and actual amounts realized may differ from those reported.

Reclassifications

Certain items in prior financial statements have been reclassified to conform to the current presentation. Such reclassifications had no effect on previously reported cash flows, stockholders’ equity or net income.

Recent Accounting Pronouncements

In December 2011, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2011-12, “Comprehensive Income (Topic 220)—Deferral of the Effective Date for Amendments to the Presentation of Reclassifications of Items Out of Accumulated Other Comprehensive Income in Accounting Standards Update No. 2011-05.” ASU 2011-12 defers changes in ASU 2011-05 that relate to the presentation of reclassification adjustments to allow the FASB time to re-deliberate whether to require presentation of such adjustments on the face of the financial statements to show the effects of reclassifications out of accumulated other comprehensive income on the components of net income and other comprehensive income. ASU 2011-12 allows entities to continue to report reclassifications out of accumulated other comprehensive income consistent with the presentation requirements in effect before ASU 2011-05. All other requirements in ASU 2011-05 are not affected by ASU 2011-12. ASU 2011-12 was effective for annual and interim periods beginning after December 15, 2011. Adoption of ASU 2011-12 did not have a significant effect on the Company’s financial statements.

6

In November 2011, the FASB issued ASU No. 2011-11, “Balance Sheet (Topic 210)—Disclosure about Offsetting Assets and Liabilities.” ASU 2011-11 is an amendment to require an entity to disclose both net and gross information about offsetting assets and liabilities to enable users of its financial statements to understand the effect of those arrangements. Arrangements include derivatives, sale and repurchase agreements and transactions, securities borrowing and securities lending arrangements. ASU 2011-11 is effective for annual and interim periods beginning on January 1, 2013 and is not expected to have a significant effect on the Company’s financial statements.

In September 2011, the FASB issued ASU No. 2011-08, “Intangibles (Topic 350) – Goodwill and Other.” ASU 2011-08 is an update to simplify how entities test for goodwill impairment. The amendments in the update permit the Company to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If these factors determined that the fair value exceeds the carrying amount then the Company is not required to calculate the fair value of the reporting unit. The Company opted to continue to perform quantitative tests for goodwill impairment and not to perform qualitative tests for goodwill impairment under ASU 2011-08 as of September 30, 2011. Adoption of ASU 2011-08 did not have a significant effect on the Company’s financial statements.

In June 2011, the FASB issued ASU No. 2011-05, “Comprehensive Income (Topic 220)—Presentation of Comprehensive Income.” ASU 2011-05 is an update to improve the comparability, consistency, and transparency of financial reporting, to increase the prominence of items reported in other comprehensive income, and to facilitate convergence of GAAP and IFRS. The Company adopted ASU 2011-05 as of September 30, 2011, and the standard was applied retrospectively. The adoption of ASU 2011-05 did not have a significant effect on the Company’s financial statements.

In May 2011, the FASB issued ASU No. 2011-04, “Fair Value Measurement (Topic 820)—Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. Generally Accepted Accounting Principles (“GAAP”) and International Financial Reporting Standards (“IFRS”).” ASU 2011-04 is an update to explain how to measure fair value. This amendment does not require additional fair value measurements and is not intended to establish valuation standards or affect valuation practices outside of financial reporting. This amendment was put forth in order to describe many of the requirements in GAAP for measuring fair value and for disclosing information about fair value measurements consistent with IFRS. ASU 2011-04 was effective for the Company on January 1, 2012, and was applied prospectively. Adoption of ASU 2011-04 did not have a significant effect on the Company’s financial statements.

In April 2011, the FASB issued ASU No. 2011-02, “Receivables (Topic 310)—A Creditor’s Determination of Whether a Restructuring is a Troubled Debt Restructuring.” ASU 2011-02 clarifies which loan modifications constitute troubled debt restructurings and is intended to assist creditors in determining whether a modification of the terms of a receivable meets the criteria to be considered a troubled debt restructuring, both for purposes of recording an impairment loss and for disclosure of troubled debt restructurings. In evaluating whether a restructuring constitutes a troubled debt restructuring, a creditor must separately conclude, under the guidance clarified by ASU 2011-02, that both of the following exist: (a) the restructuring constitutes a concession; and (b) the debtor is experiencing financial difficulties. ASU 2011-02 was effective for the Company on July 1, 2011, and was applied retrospectively to restructurings occurring on or after January 1, 2011. Adoption of ASU 2011-02 did not have a significant effect on the Company’s financial statements.

(2) RECENT DEVELOPMENTS, INCLUDING MERGERS AND ACQUISITIONS

On January 19, 2012, Council Oak Investment Corporation, a wholly-owned subsidiary of BancFirst, completed the sale of one of its investments that resulted in a pretax gain of approximately $4.5 million. After related expenses and income taxes, the increase in net income approximated $2.6 million or $0.17 per share on a fully diluted basis. The gain was included in first quarter 2012 earnings.

On July 12, 2011, the Company completed the acquisition of FBC Financial Corporation and its subsidiary bank, 1st Bank Oklahoma with banking locations in Claremore, Verdigris, and Inola, Oklahoma. The Company paid a premium of $1.5 million above the equity capital of FBC Financial Corporation. At acquisition, 1st Bank Oklahoma had approximately $217 million in total assets, $116 million in loans, $178 million in deposits and $18 million in equity capital. 1^st Bank Oklahoma operated as a subsidiary of BancFirst Corporation until it was merged into BancFirst on February 17, 2012. The acquisition did not have a material effect on the Company’s consolidated financial statements.

7

The Federal Reserve enacted a final rule on June 29, 2011 establishing the debit card interchange rate at $0.21 per transaction and five basis points multiplied by the value of the transaction that was effective on October 1, 2011 for banks exceeding $10 billion in assets. Although the rule does not apply directly to the Company, the possible competitive response may have an impact on the Company’s pricing of these services.

(3) SECURITIES

The following table summarizes securities held for investment and securities available for sale:

	June 30, 2012
	(Dollars in thousands)
Held for investment, at cost (market value: $20,104)	$	19,734
Available for sale, at market value		555,300
Total	$	575,034

The following table summarizes the amortized cost and estimated market values of securities held for investment:

	June 30, 2012
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Market Value
	(Dollars in thousands)
U.S. treasury and other Federal agencies	$	901	$	68	$	—	$	969
States and political subdivisions		18,833		302		—		19,135
Total	$	19,734	$	370	$	—	$	20,104

The following table summarizes the amortized cost and estimated market values of securities available for sale:

	June 30, 2012
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Market Value
	(Dollars in thousands)
U.S. Federal agencies (1)	$	455,175	$	4,512	$	(121	)	$	459,566
Mortgage backed securities		23,869		843		(3	)		24,709
States and political subdivisions		57,540		3,008		(10	)		60,538
Other securities (2)		8,011		2,498		(22	)		10,487
Total	$	544,595	$	10,861	$	(156	)	$	555,300

(1) Primarily consists of FHLMC, FNMA, GNMA and mortgage backed securities through U.S. agencies.

(2) Primarily consists of equity securities.

The maturities of securities held for investment and available for sale are summarized in the following table using contractual maturities. Actual maturities may differ from contractual maturities due to obligations that are called or prepaid. For purposes of the maturity table, mortgage-backed securities, which are not due at a single maturity date, have been presented at their contractual maturity.

8

	June 30, 2012
	Amortized Cost		Estimated Market Value
	(Dollars in thousands)
Held for Investment
Contractual maturity of debt securities:
Within one year	$	1,583	$	1,602
After one year but within five years		14,679		14,909
After five years but within ten years		2,830		2,889
After ten years		642		704
Total	$	19,734	$	20,104
Available for Sale
Contractual maturity of debt securities:
Within one year	$	85,373	$	86,441
After one year but within five years		323,771		326,413
After five years but within ten years		46,982		49,031
After ten years		80,458		82,928
Total debt securities		536,584		544,813
Equity securities		8,011		10,487
Total	$	544,595	$	555,300

The following table is a summary of the Company’s book value of securities that were pledged as collateral for public funds on deposit, repurchase agreements and for other purposes as required or permitted by law:

	June 30, 2012
	(Dollars in thousands)
Book value of pledged securities	$	484,329

9

(4) LOANS AND ALLOWANCE FOR LOAN LOSSES

The following is a schedule of loans outstanding by category:

	June 30, 2012					December 31, 2011					June 30, 2011
	Amount		Percent			Amount		Percent			Amount		Percent
	(Dollars in thousands)
Commercial and industrial	$	515,456		16.82	%	$	547,942		18.19	%	$	551,293		19.26	%
Oil & gas production & equipment		125,228		4.08			115,786		3.84			113,868		3.98
Agriculture		77,882		2.54			86,297		2.86			74,221		2.59
State and political subdivisions:
Taxable		6,520		0.21			6,939		0.23			7,281		0.25
Tax-exempt		13,853		0.45			17,070		0.57			11,920		0.42
Real estate:
Construction		197,168		6.43			207,953		6.90			236,660		8.27
Farmland		111,472		3.64			103,923		3.45			86,285		3.02
One to four family residences		674,577		22.01			655,134		21.74			618,428		21.61
Multifamily residential properties		46,866		1.53			37,734		1.25			34,040		1.19
Commercial		1,036,322		33.81			960,074		31.86			846,684		29.59
Consumer		239,156		7.80			252,331		8.37			255,975		8.94
Other (not classified above)		20,939		0.68			22,315		0.74			25,189		0.88
Total loans	$	3,065,439		100.00	%	$	3,013,498		100.00	%	$	2,861,844		100.00	%
Loans held for sale (included above)	$	16,612				$	12,126				$	11,258

The Company’s loans are mostly to customers within Oklahoma and over 60% of the loans are secured by real estate. Credit risk on loans is managed through limits on amounts loaned to individual borrowers, underwriting standards and loan monitoring procedures. The amounts and types of collateral obtained, if any, to secure loans are based upon the Company’s underwriting standards and management’s credit evaluation. Collateral varies, but may include real estate, equipment, accounts receivable, inventory, livestock and securities. The Company’s interest in collateral is secured through filing mortgages and liens, and in some cases, by possession of the collateral.

Accounting policies related to appraisals, nonaccruals and charge-offs are disclosed in Footnote (5) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2011.

Nonperforming and Restructured Assets

Nonaccrual loans, accruing loans past due 90 days or more, and restructured loans are shown in the table below. Had nonaccrual loans performed in accordance with their original contract terms, the Company would have recognized additional interest income of approximately $654,000 for the six months ended June 30, 2012 and approximately $562,000 for the six months ended June 30, 2011.

At June 30, 2012, troubled debt restructurings were primarily due to the principal deferral restructuring from one customer. This loan was evaluated by management and determined to be well collateralized. Additionally, none of the concessions granted involved a principal reduction or a change from the current market rate of interest. Collateral value will be monitored periodically to evaluate possible impairment. The Company charges interest on principal balances outstanding during deferral periods. As a result, the current and future financial effects of the recorded balance of loans considered to be restructured were not considered to be material.

The following is a summary of nonperforming and restructured assets:

	June 30,			December 31,			June 30,
	2012			2011			2011
	(Dollars in thousands)
Past due 90 days or more and still accruing	$	1,403		$	798		$	1,166
Nonaccrual		20,702			21,187			22,469
Restructured		18,089			1,041			344
Total nonperforming and restructured loans		40,194			23,026			23,979
Other real estate owned and repossessed assets		10,223			16,640			15,501
Total nonperforming and restructured assets	$	50,417		$	39,666		$	39,480
Nonperforming and restructured loans to total loans		1.31	%		0.76	%		0.84	%
Nonperforming and restructured assets to total assets		0.89	%		0.71	%		0.75	%

10

Loans are segregated into classes based upon the nature of the collateral and the borrower. These classes are used to estimate the credit risk component in the allowance for loan losses.

The following table is a summary of amounts included in nonaccrual loans, segregated by class of loans. Residential real estate refers to one-to-four family real estate.

	June 30, 2012		June 30, 2011
	(Dollars in thousands)
Non-residential real estate	$	9,711	$	9,235
Residential real estate		4,098		5,860
Non-consumer non-real estate		1,142		1,547
Consumer non-real estate		140		178
Other loans		1,918		4,285
Acquired loans		3,693		1,364
Total	$	20,702	$	22,469

The following table presents an age analysis of past due loans, segregated by class of loans:

	Age Analysis of Past Due Receivables
	30-89 Days Past Due		90 Days and Greater		Total Past Due Loans		Current Loans		Total Loans		Accruing Loans 90 Days or More Past Due
	(Dollars in thousands)
As of June 30, 2012
Non-residential real estate	$	2,649	$	2,454	$	5,103	$	1,135,948	$	1,141,051	$	285
Residential real estate		4,240		1,288		5,528		715,621		721,149		478
Non-consumer non-real estate		1,285		244		1,529		695,887		697,416		16
Consumer non-real estate		2,002		183		2,185		198,242		200,427		122
Other loans		1,213		1,654		2,867		153,117		155,984		102
Acquired loans		3,134		1,352		4,486		144,926		149,412		400
Total	$	14,523	$	7,175	$	21,698	$	3,043,741	$	3,065,439	$	1,403
As of June 30, 2011
Non-residential real estate	$	1,720	$	573	$	2,293	$	978,409	$	980,702	$	1
Residential real estate		2,617		2,208		4,825		684,344		689,169		927
Non-consumer non-real estate		1,474		324		1,798		710,640		712,438		6
Consumer non-real estate		1,822		173		1,995		196,583		198,578		116
Other loans		3,489		3,766		7,255		152,982		160,237		89
Acquired loans		908		920		1,828		118,892		120,720		27
Total	$	12,030	$	7,964	$	19,994	$	2,841,850	$	2,861,844	$	1,166

Impaired Loans

Loans are considered impaired when, based on current information and events, it is probable the Company will be unable to collect the full amount of scheduled principal and interest payments in accordance with the original contractual terms of the loan agreement. If a loan is impaired, a specific valuation allowance may be allocated, if necessary, so that the loan is reported net at the present value of future cash flows using the loan’s existing rate or the fair value of collateral if repayment is expected solely from the collateral. When it is not deemed necessary to allocate a specific valuation allowance to an impaired loan, the loan nevertheless will have an allowance based on a historically adequate percentage determined for the class of loans.

11

The following table presents impaired loans, segregated by class of loans. No material amount of interest income was recognized on impaired loans subsequent to their classification as impaired.

	Impaired Loans
	Unpaid Principal Balance		Recorded Investment with Allowance		Related Allowance		Average Recorded Investment
	(Dollars in thousands)
As of June 30, 2012
Non-residential real estate	$	28,184	$	27,165	$	2,122	$	27,397
Residential real estate		5,839		5,384		1,468		5,547
Non-consumer non-real estate		1,792		1,163		302		1,512
Consumer non-real estate		349		325		59		389
Other loans		2,255		2,020		212		2,158
Acquired loans		13,648		11,522		291		13,263
Total	$	52,067	$	47,579	$	4,454	$	50,266
As of June 30, 2011
Non-residential real estate	$	9,723	$	9,235	$	978	$	10,223
Residential real estate		6,466		5,860		1,520		6,511
Non-consumer non-real estate		1,873		1,547		358		1,806
Consumer non-real estate		211		178		47		212
Other loans		4,418		4,285		193		4,312
Acquired loans		1,529		1,364		92		1,339
Total	$	24,220	$	22,469	$	3,188	$	24,403

Credit Risk Monitoring and Loan Grading

The Company employs several means to monitor the risk in the loan portfolio including volume and severity of loan delinquencies, nonaccrual loans, internal grading of loans, historical loan loss experience, and economic conditions.

Loans are subject to an internal risk grading system which indicates the risk and acceptability of that loan. The loan grades used by the Company are for internal risk identification purposes and do not directly correlate to regulatory classification categories or any financial reporting definitions.

The general characteristics of the risk grades are as follows:

Grade 1—Acceptable—Loans graded 1 represent reasonable and satisfactory credit risk which requires normal attention and supervision. Capacity to repay through primary and/or secondary sources is not questioned.

Grade 2—Acceptable—Increased Attention—This category consists of loans that have credit characteristics deserving management’s close attention. These potential weaknesses could result in deterioration of the repayment prospects for the loan or the Bank’s credit position at some future date. Such credit characteristics include loans to highly leveraged borrowers in cyclical industries, adverse financial trends which could potentially weaken repayment capacity, loans that have fundamental structure deficiencies, loans lacking secondary sources of repayment where prudent, and loans with deficiencies in essential documentation, including financial information.

Grade 3—Loans with Problem Potential—This category consists of performing loans which are considered to exhibit problem potential. Loans in this category would generally include, but not be limited to, borrowers with a weakened financial condition or poor performance history, past dues, loans restructured to reduce payments to an amount that is below market standards and/or loans with severe documentation problems. In general, these loans have no identifiable loss potential in the near future, however, the possibility of a loss developing is heightened.

Grade 4—Problem Loans/Assets—Nonperforming—This category consists of nonperforming loans/assets which are considered to be problems. Nonperforming loans are described as being 90 days and over past due and still accruing, and loans that are nonaccrual. The government guaranteed portion of SBA loans is excluded.

Grade 5—Loss Potential—This category consists of loans/assets which are considered to possess loss potential. While the loss may not occur in the current year, management expects that loans/assets in this category will ultimately result in a loss, unless substantial improvement occurs.

12

Grade 6—Charge Off—This category consists of loans that are considered uncollectible and other assets with little or no value.

The following table presents internal loan grading by class of loans:

	Internal Loan Grading
	Grade
	1		2		3		4		5		Total
	(Dollars in thousands)
As of June 30, 2012
Non-residential real estate	$	983,946	$	118,825	$	28,514	$	9,766	$	—	$	1,141,051
Residential real estate		619,115		81,324		15,920		4,790		—		721,149
Non-consumer non-real estate		610,214		78,825		7,211		1,166		—		697,416
Consumer non-real estate		187,768		10,204		2,122		333		—		200,427
Other loans		151,330		2,917		1,027		710		—		155,984
Acquired loans		110,506		27,002		7,898		4,006		—		149,412
Total	$	2,662,879	$	319,097	$	62,692	$	20,771	$	—	$	3,065,439
As of June 30, 2011
Non-residential real estate	$	834,857	$	103,359	$	33,446	$	9,040	$	—	$	980,702
Residential real estate		601,469		68,651		12,970		6,079		—		689,169
Non-consumer non-real estate		638,872		61,481		10,710		1,375		—		712,438
Consumer non-real estate		189,220		6,891		2,172		295		—		198,578
Other loans		153,104		2,463		2,050		2,620		—		160,237
Acquired loans		84,482		26,475		8,398		1,267		98		120,720
Total	$	2,502,004	$	269,320	$	69,746	$	20,676	$	98	$	2,861,844

Allowance for Loan Losses Methodology

The allowance for loan losses (“ALLL”) is determined by a calculation based on segmenting the loans into the following categories: (1) adversely graded loans [Grades 3, 4, and 5] that have a specific reserve allocation; (2) loans without a specific reserve segmented by loans secured by real estate other than 1-4 family residential property, loans secured by 1-4 family residential property, commercial, industrial, and agricultural loans not secured by real estate, consumer purpose loans not secured by real estate, and loans over 60 days past due that are not otherwise Grade 3, 4, or 5; (3) Grade 2 loans; (4) Grade 1 loans; and (5) loans held for sale which are excluded.

The ALLL is calculated as the sum of the following: (1) the total dollar amount of specific reserve allocations; (2) the dollar amount derived by multiplying each segment of adversely graded loans without a specific reserve allocation times its respective reserve factor; (3) the dollar amount derived by multiplying Grade 2 loans and Grade 1 loans (less exclusions) times the respective reserve factor; and (4) other adjustments as deemed appropriate and documented by the Senior Loan Committee or Board of Directors.

The amount of the ALLL is an estimate based upon factors which are subject to rapid change due to changing economic conditions and the economic prospects of borrowers. It is reasonably possible that a material change could occur in the estimated ALLL in the near term.

13

The following table details activity in the ALLL by class of loans for the period presented. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories.

ALLL
	Non-Residential Real Estate			Residential Real Estate			Non- Consumer Non-Real Estate			Consumer Non-Real Estate			Other Loans			Acquired Loans			Total
	(Dollars in thousands)
Three Months Ended June 30, 2012
Allowance for credit losses:
Balance at March 31, 2012	$	14,109		$	9,762		$	9,198		$	2,283		$	1,850		$	431		$	37,633
Charge-offs		(7	)		(95	)		(313	)		(77	)		(27	)		(12	)		(531	)
Recoveries		(6	)		13			26			32			12			9			86
Net charge-offs		(13	)		(82	)		(287	)		(45	)		(15	)		(3	)		(445	)
Provisions charged to operations		253			326			(353	)		44			19			(41	)		248
Balance at June 30, 2012	$	14,349		$	10,006		$	8,558		$	2,282		$	1,854		$	387		$	37,436
Six Months Ended June 30, 2012
Allowance for credit losses:
Balance at December 31, 2011	$	13,948		$	9,764		$	9,156		$	2,315		$	1,886		$	587		$	37,656
Charge-offs		(128	)		(131	)		(330	)		(191	)		(207	)		(76	)		(1,063	)
Recoveries		31			109			124			116			31			11			422
Net charge-offs		(97	)		(22	)		(206	)		(75	)		(176	)		(65	)		(641	)
Provisions charged to operations		498			264			(392	)		42			144			(135	)		421
Balance at June 30, 2012	$	14,349		$	10,006		$	8,558		$	2,282		$	1,854		$	387		$	37,436
Ending balances:
Individually evaluated for impairment	$	2,986		$	2,760		$	1,436		$	302		$	196		$	—		$	7,680
Collectively evaluated for impairment		11,363			7,246			7,122			1,980			1,658			387			29,756
Balance at June 30, 2012	$	14,349		$	10,006		$	8,558		$	2,282		$	1,854		$	387		$	37,436
Loans-Ending balances:
Individually evaluated for impairment	$	38,278		$	20,710		$	8,377		$	2,455		$	109		$	—		$	69,929
Collectively evaluated for impairment		1,102,773			700,439			689,039			197,972			155,875			137,508			2,983,606
Loans acquired with deteriorated credit quality		—			—			—			—			—			11,904			11,904
Balance at June 30, 2012	$	1,141,051		$	721,149		$	697,416		$	200,427		$	155,984		$	149,412		$	3,065,439

14

ALLL
	Non-Residential Real Estate			Residential Real Estate			Non- Consumer Non-Real Estate			Consumer Non-Real Estate			Other Loans			Acquired Loans			Total
	(Dollars in thousands)
Three Months Ended June 30, 2011
Allowance for credit losses:
Balance at March 31, 2011	$	12,979		$	9,612		$	9,165		$	2,258		$	1,699		$	423		$	36,136
Charge-offs		(136	)		(312	)		(179	)		(223	)		(22	)		(302	)		(1,174	)
Recoveries		7			39			29			36			5			1			117
Net charge-offs		(129	)		(273	)		(150	)		(187	)		(17	)		(301	)		(1,057	)
Provisions charged to operations		801			41			319			166			30			656			2,013
Balance at June 30, 2011	$	13,651		$	9,380		$	9,334		$	2,237		$	1,712		$	778		$	37,092
Six Months Ended June 30, 2011
Allowance for credit losses:
Balance at December 31, 2010	$	13,142		$	8,957		$	9,587		$	2,301		$	1 ,758		$	—		$	35,745
Charge-offs		(269	)		(501	)		(184	)		(328	)		(122	)		(331	)		(1,735	)
Recoveries		16			95			84			68			7			11			281
Net charge-offs		(253	)		(406	)		(100	)		(260	)		(115	)		(320	)		(1,454	)
Provisions charged to operations		762			829			(153	)		196			69			1,098			2,801
Balance at June 30, 2011	$	13,651		$	9,380		$	9,334		$	2,237		$	1,712		$	778		$	37,092
Ending balances:
Individually evaluated for impairment	$	3,694		$	2,314		$	2,021		$	297		$	285		$	—		$	8,611
Collectively evaluated for impairment		9,957			7,066			7,313			1,940			1,427			778			28,481
Balance at June 30, 2011	$	13,651		$	9,380		$	9,334		$	2,237		$	1,712		$	778		$	37,092
Loans-Ending balances:
Individually evaluated for impairment	$	42,486		$	19,049		$	12,085		$	2,467		$	413		$	—		$	76,500
Collectively evaluated for impairment		938,216			670,120			700,353			196,111			159,824			110,957			2,775,581
Loans acquired with deteriorated credit quality		—			—			—			—			—			9,763			9,763
Balance at June 30, 2011	$	980,702		$	689,169		$	712,438		$	198,578		$	160,237		$	120,720		$	2,861,844

Transfers from Loans

Transfers from loans to other real estate owned and repossessed assets are non-cash transactions, and are not included in the statements of cash flow.

Transfers from loans to other real estate owned and repossessed assets during the periods presented, are summarized as follows:

	Six Months Ended June 30,
	2012		2011
	(Dollars in thousands)
Other real estate owned	$	1,284	$	3,145
Repossessed assets		295		913
Total	$	1,579	$	4,058

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(5) INTANGIBLE ASSETS

The following is a summary of intangible assets:

	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
	(Dollars in thousands)
As of June 30, 2012
Core deposit intangibles	$	14,800	$	(6,402	)	$	8,398
Customer relationship intangibles		5,657		(1,812	)		3,845
Mortgage servicing intangibles		986		(71	)		915
Total	$	21,443	$	(8,285	)	$	13,158

(6) JUNIOR SUBORDINATED DEBENTURES

The following is a summary of the Junior Subordinated Debentures:

	June 30, 2012		December 31, 2011
Issue	Amount		Amount		Rate	Maturity
	(Dollars in thousands)
BFC II	$	26,804	$	26,804	7.20%		03/31/2034
UNST I		—		2,062	3 month LIBOR + 1.65%		03/15/2036
FBCST I		—		7,217	3 month LIBOR + 2.85%		12/17/2033
Total	$	26,804	$	36,083

Refer to Note (11) in BancFirst Corporation’s Annual Report on Form 10-K for the year ended December 31, 2011, for further disclosures related to Junior Subordinated Debentures.

On June 15, 2012, BancFirst Corporation redeemed the Union National Statutory Trust I (“UNST I”) Junior Subordinated Debentures at par value.

On June 18, 2012, BancFirst Corporation redeemed the FBC Financial Corp. Statutory Trust I (“FBCST I”) Junior Subordinated Debentures at par value.

(7) STOCK-BASED COMPENSATION

The Company adopted a nonqualified incentive stock option plan (the “BancFirst ISOP”) in May 1986. The Company amended the BancFirst ISOP to increase the number of shares to be issued under the plan to 2,800,000 shares in May 2011. At June 30, 2012, 64,860 shares were available for future grants. The BancFirst ISOP will terminate on December 31, 2014. The options are exercisable beginning four years from the date of grant at the rate of 25% per year for four years. Options expire at the end of fifteen years from the date of grant. Options outstanding as of June 30, 2012 will become exercisable through the year 2018. The option price must be no less than 100% of the fair market value of the stock relating to such option at the date of grant.

In June 1999, the Company adopted the BancFirst Corporation Non-Employee Directors’ Stock Option Plan (the “BancFirst Directors’ Stock Option Plan”). Each non-employee director is granted an option for 10,000 shares. The Company amended the BancFirst Directors’ Stock Option Plan to increase the number of shares to be issued under the plan to 205,000 shares in May 2009. At June 30, 2012, 30,000 shares were available for future grants. The options are exercisable beginning one year from the date of grant at the rate of 25% per year for four years, and expire at the end of fifteen years from the date of grant. Options outstanding as of June 30, 2012 will become exercisable through the year 2015. The option price must be no less than 100% of the fair value of the stock relating to such option at the date of grant.

The Company currently uses newly issued stock to satisfy stock-based exercises, but reserves the right to use treasury stock purchased under the Company’s Stock Repurchase Program (the “SRP”) in the future.

The following table is a summary of the activity under both the BancFirst ISOP and the BancFirst Directors’ Stock Option Plan:

16

	Options			Wgtd. Avg. Exercise Price		Wgtd. Avg. Remaining Contractual Term			Aggregate Intrinsic Value
	(Dollars in thousands, except per share data)
Six Months Ended June 30, 2012
Outstanding at December 31, 2011		1,298,431		$	30.14
Options granted		—			—
Options exercised		(42,133	)		17.13
Options canceled, forfeited, or expired		—			—
Outstanding at June 30, 2012		1,256,298			30.58		8.39	Yr	$	14,237
Exercisable at June 30, 2012		699,848			24.44		5.27	Yr	$	12,223

The following table is a summary of the Company’s non-vested options as of June 30, 2012, and any changes during the six months ended June 30, 2012:

	Options
Non-vested at December 31, 2011		591,700
Options granted		—
Options vested		(35,250	)
Options forfeited		—
Non-vested at June 30, 2012		556,450

The following table has additional information regarding options granted and options exercised under both the BancFirst ISOP and the BancFirst Directors’ Stock Option Plan:

	Three Months Ended June  30,				Six Months Ended June 30,
	2012		2011		2012		2011
	(Dollars in thousands, except per share data)
Weighted average grant-date fair value per share of options granted	$	—	$	11.36	$	—	$	12.48
Total intrinsic value of options exercised		617		—		1,749		405
Cash received from options exercised		239		—		722		438
Tax benefit realized from options exercised		239		—		677		157

The fair value of each option grant is estimated on the date of grant using the Black-Scholes option-pricing model and is based on certain assumptions including risk-free rate of return, dividend yield, stock price volatility, and the expected term. The fair value of each option is expensed over its vesting period.

The following table is a summary of the Company’s recorded stock-based compensation expense:

	Three Months Ended June 30,						Six Months Ended June 30,
	2012			2011			2012			2011
	(Dollars in thousands)
Stock-based compensation expense	$	357		$	271		$	798		$	646
Tax		(138	)		(105	)		(309	)		(250	)
Stock-based compensation expense, net of tax	$	219		$	166		$	489		$	396

The Company will continue to amortize the remaining fair value of stock options over the remaining vesting period of approximately seven years. The following table shows the remaining fair value of stock options:

	June 30, 2012
	(Dollars in thousands)
Fair value of stock options	$	5,675

17

The following table shows the assumptions used for computing stock-based compensation expense under the fair value method:

	Six Months Ended June  30,
	2012			2011
Risk-free interest rate		1.78	%		3.61	%
Dividend yield		2.00	%		2.00	%
Stock price volatility		38.72	%		25.26	%
Expected term		10	Yrs		10	Yrs

The risk-free interest rate is determined by reference to the spot zero-coupon rate for the U.S. Treasury security with a maturity similar to the expected term of the options. The dividend yield is the expected yield for the expected term. The stock price volatility is estimated from the recent historical volatility of the Company’s stock. The expected term is estimated from the historical option exercise experience.

(8) 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 stockholders wishing to sell their stock. All shares repurchased under the SRP have been retired and not held as treasury 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.

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

	Three Months Ended June 30,				Six Months Ended June 30,
	2012		2011		2012		2011
Number of shares repurchased		6,787		117,176		6,787		117,176
Average price of shares repurchased	$	37.70	$	37.75	$	37.70	$	37.75
Shares remaining to be repurchased		234,964		426,724		234,964		426,724

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 June 30, 2012, 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:

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	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 June 30, 2012:
Total Capital
(to Risk Weighted Assets)-
BancFirst Corporation	$	500,048		14.62	%	$	273,588		8.00	%		N/A		N/A
BancFirst		475,563		13.94	%		272,894		8.00	%	$	341,118		10.00	%
Tier 1 Capital
(to Risk Weighted Assets)-
BancFirst Corporation	$	462,612		13.53	%	$	136,794		4.00	%		N/A		N/A
BancFirst		438,127		12.84	%		136,447		4.00	%	$	204,671		6.00	%
Tier 1 Capital
(to Total Assets)-
BancFirst Corporation	$	462,612		8.24	%	$	170,193		3.00	%		N/A		N/A
BancFirst		438,127		7.81	%		169,614		3.00	%	$	282,690		5.00	%

As of June 30, 2012, BancFirst was considered to be “well capitalized” and there are no conditions or events since the most recent notification of BancFirst’s capital category that management believes would materially change its category under capital requirements existing as of the report date. 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%. The Company’s trust preferred securities have continued to be included in Tier 1 capital as the Company’s total assets do not exceed $10 billion.

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(9) NET INCOME PER COMMON SHARE

Basic and diluted net income per common share are calculated as follows:

	Income (Numerator)		Shares (Denominator)		Per Share Amount
	(Dollars in thousands, except per share data)
Three Months Ended June 30, 2012
Basic
Income available to common stockholders	$	11,729		15,155,525	$	0.77
Effect of stock options		—		271,271
Diluted
Income available to common stockholders plus assumed exercises of stock options	$	11,729		15,426,796	$	0.76
Three Months Ended June 30, 2011
Basic
Income available to common stockholders	$	10,115		15,364,738	$	0.66
Effect of stock options		—		287,215
Diluted
Income available to common stockholders plus assumed exercises of stock options	$	10,115		15,651,953	$	0.65
Six Months Ended June 30, 2012
Basic
Income available to common stockholders	$	25,734		15,145,066	$	1.70
Effect of stock options		—		276,608
Diluted
Income available to common stockholders plus assumed exercises of stock options	$	25,734		15,421,674	$	1.67
Six Months Ended June 30, 2011
Basic
Income available to common stockholders	$	21,470		15,362,764	$	1.40
Effect of stock options		—		295,723
Diluted
Income available to common stockholders plus assumed exercises of stock options	$	21,470		15,658,487	$	1.37

The following table shows the number and average exercise price of options that were excluded from the computation of diluted net income per common share for each period because the options’ exercise prices were greater than the average market price of the common shares:

	Shares		Average Exercise  Price
Three Months Ended June 30, 2012		607,200	$	38.70
Three Months Ended June 30, 2011		537,008	$	38.94
Six Months Ended June 30, 2012		607,200	$	38.70
Six Months Ended June 30, 2011		503,857	$	38.80

(10) FAIR VALUE MEASUREMENTS

Accounting standards define fair value as the price that would be received to sell an asset or the price paid to transfer a liability in the principal or most advantageous market available to the entity in an orderly transaction between market participants on the measurement date.

FASB ASC Topic 820 establishes a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows:

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—  Level 1 Inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.

—  Level 2 Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset and liability, either directly or indirectly, for substantially the full term of the financial instrument.

—  Level 3 Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose values are determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. This category includes certain impaired loans, foreclosed assets, other real estate, goodwill and other intangible assets.

Financial Assets and Financial Liabilities Measured at Fair Value on a Recurring Basis

A description of the valuation methodologies and key inputs used to measure financial assets and financial liabilities at fair value on a recurring basis, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below. These valuation methodologies were applied to the following categories of the Company’s financial assets and financial liabilities.

Securities Available for Sale

Securities classified as available for sale are reported at fair value. U.S. Treasuries are valued using Level 1 inputs. Other securities available for sale including U.S. Federal agencies, mortgage backed securities, and states and political subdivisions are valued using prices from an independent pricing service utilizing Level 2 data. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the bond’s terms and conditions, among other things. The Company also invests in equity securities classified as available for sale for which observable information is not readily available. These securities are reported at fair value utilizing Level 3 inputs. For these securities, management determines the fair value based on replacement cost, the income approach or information provided by outside consultants or lead investors.

The Company reviews the prices for Level 1 and Level 2 securities supplied by the independent pricing service for reasonableness and to ensure such prices are aligned with traditional pricing matrices. In general, the Company does not purchase investment portfolio securities that are esoteric or that have complicated structures. The Company’s entire portfolio consists of traditional investments including U.S. Treasury obligations, Federal agency mortgage pass-through securities, general obligation municipal bonds and a small amount of municipal revenue bonds. Pricing for such instruments is fairly generic and is easily obtained. For in-state bond issues that have relatively low issue sizes and liquidity, the Company utilizes the same parameters adjusted for the specific issue. From time to time, the Company will validate, on a sample basis, prices supplied by the independent pricing service by comparison to prices obtained from third party sources.

Derivatives

Derivatives are reported at fair value utilizing Level 2 inputs. The Company obtains dealer and market quotations to value its oil and gas swaps and options. The Company utilizes dealer quotes and observable market data inputs to substantiate internal valuation models.

Loans Held For Sale

The Company originates mortgage loans to be sold. At the time of origination, the acquiring bank has already been determined and the terms of the loan, including interest rate, have already been set by the acquiring bank, allowing the Company to originate the loan at fair value. Mortgage loans are generally sold within 30 days of origination. Loans held for sale are valued using Level 2 inputs. Gains or losses recognized upon the sale of the loans are determined on a specific identification basis.

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Mortgage Servicing Intangibles

The Company acquired these Mortgage Servicing Intangibles with the acquisition of 1^st Bank Oklahoma on July 12, 2011. The Company estimates the fair value of the Mortgage Servicing Intangibles with its carrying amount, based on the present value of future cash flows over several interest rate scenarios, which are then discounted at risk-adjusted rates. The Company considers portfolio characteristics, contractually specified servicing fees, prepayment assumptions, delinquency rates, late charges, other ancillary revenue, costs to service and other economic factors. When available, fair value estimates and assumptions are compared to observable market data and the recent market activity and actual portfolio experience.

The following table summarizes financial assets and financial liabilities measured at fair value on a recurring basis as of June 30, 2012 and 2011, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value:

	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total Fair Value
	(Dollars in thousands)
June 30, 2012
Securities available for sale	$	—	$	544,813	$	10,487	$	555,300
Derivative assets		—		7,652		—		7,652
Derivative liabilities		—		5,648		—		5,648
Loans held for sale		—		16,612		—		16,612
Mortgage servicing intangibles		—		—		915		915
June 30, 2011
Securities available for sale	$	35,096	$	506,811	$	12,498	$	554,405
Derivative assets		—		6,663		—		6,663
Derivative liabilities		—		5,136		—		5,136
Loans held for sale		—		11,258		—		11,258
Mortgage servicing intangibles		—		—		—		—

The changes in Level 3 assets measured at estimated fair value on a recurring basis during the six months ended June 30, 2012 and 2011 were as follows:

	Six Months Ended June 30,
	2012			2011
	(Dollars in thousands)
Balance at the beginning of the year	$	13,225		$	10,837
Purchases, issuances and settlements		1,770			—
Sales		(534	)		(189	)
(Losses) gains included in earnings		(596	)		20
Total unrealized (losses) gains		(2,463	)		1,830
Balance at the end of the period	$	11,402		$	12,498

The Company’s policy is to recognize transfers in and transfers out of Levels 1, 2 and 3 as of the end of the reporting period. During the six months ended June 30, 2012 and 2011, the Company did not transfer any securities between levels in the fair value hierarchy.

Financial Assets and Financial Liabilities Measured at Fair Value on a Nonrecurring Basis

Certain financial assets and financial liabilities are measured at fair value on a nonrecurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment). These financial assets and financial liabilities are reported at fair value utilizing Level 3 inputs.

Impaired loans are reported at the fair value of the underlying collateral if repayment is dependent on liquidation of the collateral. The impaired loans are adjusted to fair value through a specific allocation of the allowance for loan losses.

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Foreclosed assets, upon initial recognition, are measured and adjusted to fair value through a charge-off to the allowance for possible loan losses based upon the fair value of the foreclosed asset.

Other real estate owned is revalued at fair value subsequent to initial recognition, with any losses recognized in net expense from other real estate owned.

The following table summarizes assets measured at fair value on a nonrecurring basis and the related gains or losses recognized during the period:

	Level 1		Level 2		Level 3		Total Fair Value		Gains (Losses)
	(Dollars in thousands)
Six Months Ended June 30, 2012
Impaired loans		—		—	$	43,125	$	43,125	$	—
Foreclosed assets		—		—	$	135	$	135	$	(86	)
Other real estate owned		—		—	$	10,088	$	10,088	$	(1,067	)
Six Months Ended June 30, 2011
Impaired loans		—		—	$	19,281	$	19,281	$	—
Foreclosed assets		—		—	$	510	$	510	$	1
Other real estate owned		—		—	$	14,991	$	14,991	$	291

Estimated Fair Value of Financial Instruments

The Company is required under current authoritative accounting guidance to disclose the estimated fair value of their financial instruments that are not recorded at fair value. For the Company, as for most financial institutions, substantially all of its assets and liabilities are considered financial instruments. A financial instrument is defined as cash, evidence of an ownership interest in an entity or a contract that creates a contractual obligation or right to deliver or receive cash or another financial instrument from a second entity. The following methods and assumptions were used to estimate the fair value of each class of financial instruments:

Cash and Cash Equivalents Include: Cash and Due from Banks; Federal Funds Sold and Interest-Bearing Deposits

The carrying amount of these short-term instruments is a reasonable estimate of fair value.

Securities Held for Investment

For securities held for investment, which are generally traded in secondary markets, fair values are based on quoted market prices or dealer quotes, if available. If a quoted market price is not available, fair value is estimated using quoted market prices for similar securities making adjustments for credit or liquidity if applicable.

Loans

For certain homogeneous categories of loans, such as some residential mortgages, fair values are estimated using the quoted market prices for securities backed by similar loans, adjusted for differences in loan characteristics. The fair values of other types of loans are estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities.

Deposits

The fair values of transaction and savings accounts are the amounts payable on demand at the reporting date. The fair values of fixed-maturity certificates of deposit are estimated using the rates currently offered for deposits of similar remaining maturities.

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Short-term Borrowings

The amounts payable on these short-term instruments are reasonable estimates of fair value.

Long-term Borrowings

The fair values of fixed-rate long-term borrowings are estimated using the rates that would be charged for borrowings of similar remaining maturities.

Junior Subordinated Debentures

The fair values of junior subordinated debentures are estimated using the rates that would be charged for junior subordinated debentures of similar remaining maturities.

Loan Commitments and Letters of Credit

The fair values of commitments are estimated using the fees currently charged to enter into similar agreements, taking into account the terms of the agreements. The fair values of letters of credit are based on fees currently charged for similar agreements.

The estimated fair values of the Company’s financial instruments are as follows:

	June 30,
	2012					2011
	Carrying Amount			Fair Value		Carrying Amount			Fair Value
	(Dollars in thousands)
FINANCIAL ASSETS
Cash and cash equivalents	$	1,763,908		$	1,763,908	$	1,571,199		$	1,571,199
Securities held for investment		19,734			20,104		25,654			26,225
Loans:
Loans (net of unearned interest)		3,065,439					2,861,844
Allowance for loan losses		(37,436	)				(37,092	)
Loans, net		3,028,003			3,092,725		2,824,752			2,843,098
FINANCIAL LIABILITIES
Deposits		5,099,648			5,121,335		4,701,999			4,732,880
Short-term borrowings		6,340			6,340		1,400			1,400
Long-term borrowings		11,329			11,431		32,121			32,620
Junior subordinated debentures		26,804			28,970		28,866			31,997
OFF-BALANCE SHEET FINANCIAL INSTRUMENTS
Loan commitments					1,321					1,058
Letters of credit					428					441

Non-financial Assets and Non-financial Liabilities Measured at Fair Value

The Company has no non-financial assets or non-financial liabilities measured at fair value on a recurring basis. Certain non-financial assets and non-financial liabilities measured at fair value on a nonrecurring basis include intangible assets and other non-financial long-lived assets measured at fair value and adjusted for impairment. These items are evaluated at least annually for impairment. The overall levels of non-financial assets and non-financial liabilities were not considered to be significant to the Company at June 30, 2012 or 2011.

(11) DERIVATIVE FINANCIAL INSTRUMENTS

The Company enters into oil and gas swaps and options contracts to accommodate the business needs of its customers. Upon the origination of an oil or gas swap or option contract with a customer, the Company simultaneously enters into an offsetting contract with a counterparty to mitigate the exposure to fluctuations in oil and gas prices. These derivatives are not designated as hedged instruments and are recorded on the Company’s consolidated balance sheet at fair value.

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The Company utilizes dealer quotations and observable market data inputs to substantiate internal valuation models. The notional amounts and estimated fair values of oil and gas derivative positions outstanding are presented in the following table:

	June 30, 2012
Oil and Natural Gas Swaps and Options	Notional Units	Notional Amount			Estimated Fair  Value
	(Notional amounts and dollars in thousands)
Oil
Derivative assets	Barrels		633		$	5,062
Derivative liabilities	Barrels		(633	)		(3,838	)
Natural Gas
Derivative assets	MMBTUs		4,627			2,590
Derivative liabilities	MMBTUs		(4,627	)		(1,810	)
Total Fair Value	Included in
Derivative assets	Other assets					7,652
Derivative liabilities	Other liabilities					5,648

The following table is a summary of the Company’s recognized income related to the activity, which was included in other noninterest income:

	Three Months Ended June  30,				Six Months Ended June  30,
	2012		2011		2012		2011
	(Dollars in thousands)
Derivative income	$	141	$	74	$	350	$	198

The Company’s credit exposure on oil and gas swaps and options varies based on the current market prices of oil and natural gas. Other than credit risk, changes in the fair value of customer positions will be offset by equal and opposite changes in the counterparty positions. The net positive fair value of the contracts is the profit derived from the activity and is unaffected by market price movements.

Customer credit exposure is managed by strict position limits and is primarily offset by first liens on production while the remainder is offset by cash. Counterparty credit exposure is managed by selecting highly rated counterparties (rated A- or better by Standard and Poor’s) and monitoring market information.

The following table is a summary of the Company’s net credit exposure relating to oil and gas swaps and options with bank counterparties:

	June 30, 2012
	(Dollars in thousands)
Credit exposure	$	7,201

The Company entered into a $30 million five year guaranty with a counterparty on June 4, 2008 for the timely payment of the obligations of its subsidiary Bank related to the settlement of oil and gas positions.

(12) SEGMENT INFORMATION

The Company evaluates its performance with an internal profitability measurement system that measures the profitability of its business units on a pre-tax basis. The four principal business units are metropolitan banks, community banks, other financial services, and executive, operations and support. Metropolitan and community banks offer traditional banking products such as commercial and retail lending, and a full line of deposit accounts. Metropolitan banks consist of banking locations in the metropolitan Oklahoma City and Tulsa areas. Community banks consist of banking locations in communities throughout Oklahoma. Other financial services are specialty product business units including guaranteed small business lending, residential mortgage lending, trust services, securities brokerage, electronic banking and insurance. The executive, operations and support groups represent executive management, operational support and corporate functions that are not allocated to the other business units.

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The results of operations and selected financial information for the four business units are as follows:

	Metropolitan Banks		Community Banks		Other Financial Services		Executive, Operations & Support			Eliminations			Consolidated
	(Dollars in thousands)
Three Months Ended:
June 30, 2012
Net interest income (expense)	$	13,354	$	26,384	$	1,721	$	(590	)	$	—		$	40,869
Noninterest income		2,672		10,721		6,214		13,245			(12,488	)		20,364
Income before taxes		8,220		14,944		2,011		5,686			(12,439	)		18,422
June 30, 2011
Net interest income (expense)	$	12,311	$	24,921	$	1,759	$	(985	)	$	—		$	38,006
Noninterest income		2,706		9,647		6,427		11,616			(10,717	)		19,679
Income before taxes		6,398		13,616		3,132		3,603			(10,687	)		16,062
Six Months Ended:
June 30, 2012
Net interest income (expense)	$	26,517	$	53,015	$	3,434	$	(1,280	)	$	—		$	81,686
Noninterest income		5,353		20,856		16,078		28,626			(27,112	)		43,801
Income before taxes		16,652		30,199		8,398		12,219			(27,002	)		40,466
June 30, 2011
Net interest income (expense)	$	24,483	$	49,058	$	3,751	$	(1,997	)	$	—		$	75,295
Noninterest income		5,512		18,685		11,581		24,264			(22,633	)		37,409
Income before taxes		14,880		26,836		5,632		9,090			(22,542	)		33,896
Total Assets:
June 30, 2012	$	1,801,752	$	3,688,931	$	130,762	$	607,662		$	(557,396	)	$	5,671,711
December 31, 2011	$	1,738,426	$	3,660,239	$	153,872	$	602,577		$	(546,289	)	$	5,608,825
June 30, 2011	$	1,656,064	$	3,401,037	$	151,220	$	605,726		$	(546,602	)	$	5,267,445

The financial information for each business unit is presented on the basis used internally by management to evaluate performance and allocate resources. The Company utilizes a transfer pricing system to allocate the benefit or cost of funds provided or used by the various business units. Certain services provided by the support group to other business units, such as item processing, are allocated at rates approximating the cost of providing the services. Eliminations are adjustments to consolidate the business units and companies. Capital expenditures are generally charged to the business unit using the asset.

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Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

The following discussion and analysis presents factors that the Company believes are relevant to an assessment and understanding of the Company’s consolidated financial position and results of operations. This discussion and analysis should be read in conjunction with the Company’s December 31, 2011 consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2011 and the Company’s consolidated financial statements and the related Notes included in Item 1.

FORWARD LOOKING STATEMENTS

The Company may make forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 with respect to earnings, credit quality, corporate objectives, interest rates and other financial and business matters. Forward-looking statements include estimates and give management’s current expectations or forecasts of future events. The Company cautions readers that these forward-looking statements are subject to numerous assumptions, risks and uncertainties, including economic conditions; the performance of financial markets and interest rates; legislative and regulatory actions and reforms; competition; as well as other factors, all of which change over time. Actual results may differ materially from forward-looking statements.

SUMMARY

BancFirst Corporation’s net income was $11.7 million or $0.76 diluted earnings per share for the second quarter of 2012 and $25.7 million or $1.67 diluted earnings per share for the six months ended June 30, 2012. These results compared to net income of $10.1 million or $0.65 diluted earnings per share for the second quarter of 2011 and $21.5 million or $1.37 diluted earnings per share for the six months ended June 30, 2011.

Net interest income for the second quarter of 2012 was $40.9 million, up $2.9 million or 7.5% from the second quarter in 2011. The increase was attributable to growth in the Company’s average loans which totaled $3.1 billion, up $251.6 million from the prior year. The Company’s average earning assets rose to $5.3 billion as a result of internal growth combined with the acquisition made in July 2011. The Company’s net interest margin for the second quarter of 2012 was 3.14% versus 3.17% a year ago as interest rates remain at historically low levels. The Company’s loan loss provision for the second quarter was $248,000 down from $2.0 million for the same period in 2011. Nonperforming and restructured assets were 0.89% of total assets compared to 0.92% at March 31, 2012 and 0.71% at December 31, 2011. Net charge-offs were 0.06% compared to 0.15% for the same period a year ago. Noninterest income totaled $20.4 million which was up $685,000 from a year ago. Excluding security gains, core noninterest income increased $1.8 million or 9.7% from the prior year. The increases in revenues resulted primarily from growth in trust services, commercial deposit revenues, insurance commissions and treasury management services. Noninterest expense for the second quarter was $42.6 million compared to $39.6 million a year ago. The increase in noninterest expense is related to the acquisition made in July 2011 and net expense on other real estate of $922,000.

At June 30, 2012, the Company’s total assets were $5.7 billion, up $62.9 million or 1.1% over December 31, 2011. Total loans were $3.1 billion, up $51.9 million or 1.7% from December 31, 2011. At June 30, 2012, total deposits were $5.1 billion, up $61.9 million from December 31, 2011. Stockholders’ equity was $499.6 million at June 30, 2012, an increase of $16.5 million or 3.4% over December 31, 2011.

On January 19, 2012, Council Oak Investment Corporation, a wholly-owned subsidiary of BancFirst, completed the sale of one of its investments that resulted in a pretax gain of approximately $4.5 million.

On July 12, 2011, the Company completed the acquisition of FBC Financial Corporation and its subsidiary bank, 1st Bank Oklahoma with banking locations in Claremore, Verdigris, and Inola, Oklahoma. The Company paid a premium of $1.5 million above the equity capital of FBC Financial Corporation. At acquisition, 1st Bank Oklahoma had approximately $217 million in total assets, $116 million in loans, $178 million in deposits and $18 million in equity capital. 1^st Bank Oklahoma operated as a subsidiary of BancFirst Corporation until it was merged into BancFirst on February 17, 2012. The acquisition did not have a material effect on the Company’s consolidated financial statements.

The Federal Reserve enacted a final rule on June 29, 2011 establishing the debit card interchange rate at $0.21 per transaction and five basis points multiplied by the value of the transaction that was effective on October 1, 2011 for banks exceeding $10 billion in assets. Although the rule does not apply directly to the Company, the possible competitive response may have an impact on the Company’s pricing of these services.

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FUTURE APPLICATION OF ACCOUNTING STANDARDS

See Note (1) of the Notes to Consolidated Financial Statements for a discussion of recently issued accounting pronouncements.

SEGMENT INFORMATION

See Note (12) of the Notes to Consolidated Financial Statements for disclosures regarding business segments.

RESULTS OF OPERATIONS

Selected income statement data and other selected data for the comparable periods were as follows:

BANCFIRST CORPORATION

SELECTED CONSOLIDATED FINANCIAL DATA

(Unaudited)

(Dollars in thousands, except per share data)

	Three Months Ended June 30,						Six Months Ended June 30,
	2012			2011			2012			2011
Income Statement Data
Net interest income	$	40,869		$	38,006		$	81,686		$	75,295
Provision for loan losses		248			2,013			421			2,801
Securities transactions		226			1,316			4,258			1,324
Total noninterest income		20,364			19,679			43,801			37,409
Salaries and employee benefits		24,830			22,557			49,630			44,369
Total noninterest expense		42,563			39,610			84,600			76,007
Net income		11,729			10,115			25,734			21,470
Per Common Share Data
Net income – basic	$	0.77		$	0.66		$	1.70		$	1.40
Net income – diluted		0.76			0.65			1.67			1.37
Cash dividends		0.27			0.25			0.54			0.50
Performance Data
Return on average assets		0.83	%		0.77	%		0.91	%		0.83	%
Return on average stockholders’ equity		9.46			8.59			10.44			9.24
Cash dividend payout ratio		35.06			37.88			31.76			35.71
Net interest spread		2.95			2.91			2.96			2.93
Net interest margin		3.14			3.17			3.16			3.19
Efficiency ratio		69.51			68.67			67.42			67.44
Net charge-offs to average loans		0.06			0.15			0.04			0.10

Net Interest Income

For the three months ended June 30, 2012, net interest income, which is the Company’s principal source of operating revenue, increased $2.9 million, or 7.5%, compared to the three months ended June 30, 2011. The increase was attributable to the increase in the Company’s average loans, which were $3.1 billion, up $251.6 million from the prior year and $1.6 million from the ongoing operations of the Company’s July 2011 acquisition. In addition, interest expense decreased due to interest rates remaining at historically low levels. Net interest margin is the ratio of taxable-equivalent net interest income to average earning assets for the period. The Company’s net interest margin decreased for the three months ended June 30, 2012 compared to the three months ended June 30, 2011, as shown in the preceding table, which was due to continued low interest rates, the rolloff of higher yielding earning assets and an increase in earning assets at relatively low rates. If interest rates and/or loan volume do not increase, management expects continued compression of its net interest margin for the remainder of 2012 as higher yielding loans and securities mature and are replaced at current market rates.

28

Net interest income for the six months ended June 30, 2012 increased $6.4 million, or 8.5% compared to the six months ended June 30, 2011. The increase was due to the increase in the Company’s average loans and $3.3 million related to the ongoing operations of the Company’s July 2011 acquisition. The net interest margin for the six months ended June 30, 2012 decreased compared to the six months ended June 30, 2011 as shown in the preceding table.

Provision for Loan Losses

For the three months ended June 30, 2012, the Company’s provision for loan losses was $248,000, a decrease of $1.8 million compared to the same period a year ago. The decrease in the provision for loan losses during the second quarter of 2012 compared to the same quarter in 2011 is reflective of the decreasing trend in classified loans and a decrease in net charge-offs. Management believes the recorded amount of the allowance for loan losses is appropriate based upon management’s best estimate of probable losses that have been incurred within the existing loan portfolio. Should any of the factors considered by management in evaluating the appropriate level of the allowance for loan losses change, the Company’s estimate of probable loan losses could also change, which could affect the level of future provisions for loan losses. Net loan charge-offs were $445,000 for the second quarter of 2012, compared to $1.1 million for the second quarter of 2011. The rate of net charge-offs to average total loans is presented in the preceding table.

For the six months ended June 30, 2012, the Company’s provision for loan losses was $421,000, a decrease of $2.4 million compared to the same period of 2011. Net loan charge-offs were $641,000 for the six months ended June 30, 2012, compared to $1.5 million for the six months ended June 30, 2011.

Noninterest Income

Noninterest income increased $685,000 or 3.5% for the three months ended June 30, 2012 compared to the same period in 2011. Noninterest income growth stemmed from the Company’s July 2011 acquisition which added $671,000 along with increased revenues from trust services, commercial deposit revenues, insurance commissions and treasury management services.

Noninterest income for the six months ended June 30, 2012 increased $6.4 million or 17.1% compared to the same period in 2011. The increases in revenues were primarily from a $4.5 million pretax securities gain from the sale of an investment by Council Oak Investment Corporation, a wholly-owned subsidiary of BancFirst. In addition, the ongoing operations of the Company’s July 2011 acquisition added $1.4 million, along with increased revenues from trust services, commercial deposit revenues, insurance commissions and treasury management services.

The Company had income from debit card usage totaling $8.2 million and $7.4 million during the six months ended June 30, 2012 and 2011, respectively. The Dodd-Frank Act has given the Federal Reserve the authority to establish rules regarding debit card interchange fees charged for electronic debit transactions by payment card issuers. Because of the uncertainty as to any future rulemaking by the Federal Reserve and the inability to forecast competitive responses, the Company cannot provide any assurance as to the ultimate impact of the Dodd-Frank Act on the amount of income from debit card usage reported in future periods.

Noninterest Expense

For the three months ended June 30, 2012, noninterest expense increased $3.0 million or 7.5%, compared to the three months ended June 30, 2011. The increase in noninterest expense included $2.0 million of ongoing operating expenses related to the July 2011 bank acquisition and an increase in salaries and benefits excluding acquisitions of $1.4 million.

Noninterest expense included deposit insurance expense which totaled $724,000 for the three months ended June 30, 2012, compared to $764,000 for the three months ended June 30, 2011. The decrease in deposit insurance expense during the second quarter of 2012 compared to the same quarter of 2011 was primarily related to the April 1, 2011 change in the deposit insurance assessment base and a change in the method by which the assessment rate is determined, which is more fully discussed in the Company’s 2011 Form 10-K.

For the six months ended June 30, 2012, noninterest expense increased $8.6 million or 11.3%, compared to the six months ended June 30, 2011. Included in the 2012 noninterest expense was $1.6 million in merger related costs and approximately $500,000 of expenses related to the sale of the previously mentioned investment. Additionally, the six months ended June 30, 2012 included $4.2 million of ongoing operating expenses related to the July 2011 bank acquisition and net expense on other real estate of $1.2 million.

29

Noninterest expense included deposit insurance expense which totaled $1.4 million for the six months ended June 30, 2012, compared to $2.2 million for the six months ended June 30, 2011. The decrease in deposit insurance expense during the second quarter of 2012 compared to the same quarter of 2011 was primarily related to the April 1, 2011 change in the deposit insurance assessment base and a change in the method by which the assessment rate is determined.

Income Taxes

The Company’s effective tax rate on income before taxes was 36.3% for the second quarter of 2012, compared to 37.0% for the second quarter of 2011.

The Company’s effective tax rate on income before taxes was 36.4% for the first six months of 2012, compared to 36.7% for the first six months of 2011.

FINANCIAL POSITION

BANCFIRST CORPORATION

SELECTED CONSOLIDATED FINANCIAL DATA

(Unaudited)

(Dollars in thousands, except per share data)

	June 30,			December 31,			June 30,
	2012			2011			2011
	(unaudited)						(unaudited)
Balance Sheet Data
Total assets	$	5,671,711		$	5,608,825		$	5,267,445
Total loans		3,065,439			3,013,498			2,861,844
Allowance for loan losses		37,436			37,656			37,092
Securities		575,034			614,977			580,059
Deposits		5,099,648			5,037,735			4,701,999
Stockholders’ equity		499,561			483,041			470,397
Book value per share		32.97			31.95			30.80
Tangible book value per share		29.16			28.07			27.17
Average loans to deposits (year-to-date)		60.17	%		60.64	%		60.49	%
Average earning assets to total assets (year-to-date)		92.56			92.49			92.49
Average stockholders’ equity to average assets (year-to-date)		8.75			8.85			9.00
Asset Quality Ratios
Nonperforming and restructured loans to total loans		1.31	%		0.76	%		0.84	%
Nonperforming and restructured assets to total assets		0.89			0.71			0.75
Allowance for loan losses to total loans		1.22			1.25			1.30
Allowance for loan losses to nonperforming and restructured loans		93.14			163.54			154.68

Cash, Federal Funds Sold and Interest-Bearing Deposits with Banks

The aggregate of cash and due from banks, interest-bearing deposits with banks, and Federal funds sold as of June 30, 2012 increased $55.8 million from December 31, 2011 and $192.7 million from June 30, 2011. The increase was primarily due to increased deposits. Federal funds sold consist of overnight investments of excess funds with other financial institutions. Due to the high degree of counterparty instability in the Federal funds market and near zero overnight Federal funds rates, the Company has continued to maintain the majority of its excess funds with the Federal Reserve Bank. The Federal Reserve Bank pays interest on these funds based upon the lowest target rate for the maintenance period.

30

Securities

At June 30, 2012, total securities decreased $39.9 million compared to December 31, 2011, and $5.0 million compared to June 30, 2011. The size of the Company’s securities portfolio is a function of liquidity and rate risk management and excess funds available for investment. The Company has maintained a very liquid securities portfolio to provide funds for loan growth. The net unrealized gain on securities available for sale, before taxes, was $10.7 million at June 30, 2012, compared to an unrealized gain of $14.6 million at December 31, 2011, and $14.8 million at June 30, 2011. These unrealized gains are included in the Company’s stockholders’ equity as accumulated other comprehensive income, net of income tax, in the amounts of $7.0 million, $9.4 million and $9.7 million, respectively.

Loans (Including Acquired Loans)

At June 30, 2012, total loans were up $51.9 million or 1.7% from December 31, 2011 due to internal growth and up $203.6 million or 7.1% from June 30, 2011 due to internal growth and the July 2011 acquisition.

Allowance for Loan Losses/Fair Market Value Adjustments on Acquired Loans

The allowance for loan losses as a percentage of total loans and the allowance to nonperforming and restructured loans are shown in the preceding table.

The fair market value adjustment on acquired loans contains a market component to adjust the rates on the loans to market value and a credit component to absorb potential and identified credit exposures in the acquired loans. The credit component was $3.2 million at June 30, 2012, $3.7 million at December 31, 2011, and $1.6 million at June 30, 2011 while the acquired loans outstanding were $149.4 million, $193.4 million and $120.7 million, respectively.

Nonperforming Loans, Restructured Loans and Other Real Estate Owned

Nonperforming and restructured loans totaled $40.2 million at June 30, 2012, compared to $23.0 million at December 31, 2011 and $24.0 million at June 30, 2011. The increase in restructured loans in 2012 was due primarily to the principal deferral of one real estate credit valued at approximately $18.0 million. This loan was evaluated by management and determined to be well collateralized. Additionally, none of the concessions granted involved a principal reduction or a change from the current market rate of interest. Collateral value will be monitored periodically to evaluate possible impairment. The Company charges interest on principal balances outstanding during deferral periods. As a result, the current and future financial effects of the recorded balance of loans considered to be troubled debt restructurings that were restructured during the period were not considered to be material. The level of nonperforming loans and loan losses may rise over time as a result of economic conditions. Nonperforming and restructured assets as a percentage of total assets are shown in the preceding table.

Other real estate owned and repossessed assets totaled $10.2 million at June 30, 2012, compared to $16.6 million at December 31, 2011 and $15.5 million at June 30, 2011. The decrease was due to the sale of a commercial real estate property.

Potential problem loans are performing loans to borrowers with a weakened financial condition, or which are experiencing unfavorable trends in their financial condition, which causes management to have concerns as to the ability of such borrowers to comply with the existing repayment terms. The Company had approximately $6.5 million of these loans at June 30, 2012 compared to $26.3 million at December 31, 2011 and $7.5 million at June 30, 2011. These loans are not included in nonperforming and restructured loans. In general, these loans are adequately collateralized and have no specific identifiable probable loss. Loans which are considered to have identifiable probable loss potential are placed on nonaccrual status, are allocated a specific allowance for loss or are directly charged-down, and are reported as nonperforming. The Company’s nonaccrual loans are primarily commercial and real estate loans.

Liquidity and Funding

Deposits

At June 30, 2012 total deposits increased $61.9 million compared to December 31, 2011, and $397.6 million compared to June 30, 2011. The increase from December 2011 was due to internal deposit growth due in part to FDIC coverage on noninterest-bearing accounts and low yields on alternative investments, and the increase from June 2011 was due to internal growth and the July 2011 acquisition. The Company’s deposit base continues to be comprised substantially of core deposits. The Company’s core deposits provide it with a stable, low-cost funding source. The Company’s core deposits averaged 92.4% at June 30, 2012 compared to 91.8% at December 31, 2011 and 91.2% at June 30, 2011. Noninterest-bearing deposits to total deposits were 36.1% at June 30, 2012, compared to 33.8% at December 31, 2011 and 32.1% at June 30, 2011.

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The Company has recognized that it received depository funds due to the low interest rate environment and extended FDIC deposit insurance coverage provided by the U.S. Treasury under the Transaction Account Guaranty Program (“TAGP”). If interest rates increase or if the TAGP fails to be extended after December 31, 2012, the Company could lose deposits of an estimated $600 to $800 million over a short period of time. The Company maintains excess liquidity to absorb the potential loss of funds.

Short-Term Borrowings

Short-term borrowings, consisting primarily of Federal funds purchased and repurchase agreements, are another source of funds for the Company. The level of these borrowings is determined by various factors, including customer demand and the Company’s ability to earn a favorable spread on the funds obtained. As of June 30, 2012, short-term borrowings were $6.3 million, a decrease of $1.9 million from December 31, 2011, and an increase of $4.9 million from June 30, 2011.

Long-Term Borrowings

The Company has a line of credit from the Federal Home Loan Bank (“FHLB”) of Topeka, Kansas to use for liquidity or to match-fund certain long-term fixed rate loans. The Company’s assets, including residential first mortgages of $518.6 million, are pledged as collateral for the borrowings under the line of credit. As of June 30, 2012, the Company had approximately $11.3 million in advances outstanding due to acquisitions, compared to $18.5 million at December 31, 2011 and $17.6 million at June 30, 2011. The advances mature at varying dates through 2014.

In December 2010, the Company borrowed $14.5 million from a commercial bank to fund a portion of the Company’s acquisitions. The Company made a payment of $6.0 million in July 2011 and paid the remaining balance of $8.5 million in October 2011.

There have not been material changes from the liquidity and funding discussion included in Management’s Discussion and Analysis in the Company’s Annual Report on Form 10-K for the year ended December 31, 2011.

Capital Resources

At June 30, 2012, stockholders’ equity increased $16.5 million from December 31, 2011 and $29.2 million from June 30, 2011. In addition to net income of $25.7 million, other changes in stockholders’ equity during the six months ended June 30, 2012 included $964,000 related to stock option exercises, $798,000 related to stock-based compensation partially offset by $8.2 million in dividends, $256,000 of common stock repurchases and a $2.5 million change to other comprehensive income. Stockholders’ equity has continued to increase due to net earnings retained, stock option exercises and unrealized gains on securities, partially offset by common stock repurchases, dividends and unrealized losses on securities. The ratios of average stockholders’ equity to average assets are presented above. The Company’s leverage ratio and total risk-based capital ratio were 8.24% and 14.62%, respectively, at June 30, 2012, well in excess of the regulatory minimums.

See Note (8) of the Notes to Consolidated Financial Statements for a discussion of capital ratio requirements.

CONTRACTUAL OBLIGATIONS

There have not been any material changes in the resources required for scheduled repayments of contractual obligations from the table of Contractual Cash Obligations included in Management’s Discussion and Analysis which was included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2011 other than the redemption of $9,279,000 of trust preferred securities and related debentures in June 2012.

32

BANCFIRST CORPORATION

CONSOLIDATED AVERAGE BALANCE SHEETS AND INTEREST MARGIN ANALYSIS

(Unaudited)

Taxable Equivalent Basis (Dollars in thousands)

	Three Months Ended June 30,
	2012								2011
				Interest		Average						Interest		Average
	Average			Income/		Yield/			Average			Income/		Yield/
	Balance			Expense		Rate			Balance			Expense		Rate
ASSETS
Earning assets:
Loans (1)	$	3,073,027		$	41,952		5.48	%	$	2,821,461		$	40,344		5.74	%
Securities – taxable		516,195			2,087		1.62			544,915			3,032		2.23
Securities – tax exempt		51,731			632		4.90			77,031			927		4.83
Interest bearing deposits w/ banks & FFS		1,612,649			1,061		0.26			1,423,104			906		0.26
Total earning assets		5,253,602			45,732		3.49			4,866,511			45,209		3.73
Nonearning assets:
Cash and due from banks		146,124								141,218
Interest receivable and other assets		311,157								290,152
Allowance for loan losses		(37,635	)							(36,185	)
Total nonearning assets		419,646								395,185
Total assets	$	5,673,248							$	5,261,696
LIABILITIES AND STOCKHOLDERS’ EQUITY
Interest-bearing liabilities:
Transaction deposits	$	721,868		$	260		0.14	%	$	723,429		$	390		0.22	%
Savings deposits		1,721,452			1,401		0.33			1,608,045			2,719		0.68
Time deposits		868,330			2,222		1.03			905,940			2,877		1.27
Short-term borrowings		7,361			8		0.44			6,585			3		0.18
Long-term borrowings		12,783			91		2.86			34,522			255		2.96
Junior subordinated debentures		34,691			565		6.53			28,866			525		7.29
Total interest bearing liabilities		3,366,485			4,547		0.54			3,307,387			6,769		0.82
Interest free funds:
Noninterest bearing deposits		1,780,168								1,452,690
Interest payable and other liabilities		29,051								29,286
Stockholders’ equity		497,544								472,333
Total interest free funds		2,306,763								1,954,309
Total liabilities and stockholders’ equity	$	5,673,248							$	5,261,696
Net interest income				$	41,185							$	38,440
Net interest spread							2.95	%							2.91	%
Net interest margin							3.14	%							3.17	%

(1) Nonaccrual loans are included in the average loan balances and any interest on such nonaccrual loans is recognized on a cash basis.

33

BANCFIRST CORPORATION

CONSOLIDATED AVERAGE BALANCE SHEETS AND INTEREST MARGIN ANALYSIS

(Unaudited)

Taxable Equivalent Basis (Dollars in thousands)

	Six Months Ended June 30,
	2012								2011
				Interest		Average						Interest		Average
	Average			Income/		Yield/			Average			Income/		Yield/
	Balance			Expense		Rate			Balance			Expense		Rate
ASSETS
Earning assets:
Loans (1)	$	3,049,750		$	84,014		5.52	%	$	2,807,497		$	79,694		5.72	%
Securities – taxable		527,879			4,494		1.71			581,608			6,659		2.31
Securities – tax exempt		52,504			1,284		4.90			78,146			1,896		4.89
Interest bearing deposits w/ banks & FFS		1,596,812			2,034		0.26			1,348,460			1,702		0.25
Total earning assets		5,226,945			91,826		3.52			4,815,711			89,951		3.77
Nonearning assets:
Cash and due from banks		146,047								139,316
Interest receivable and other assets		311,793								287,766
Allowance for loan losses		(37,649	)							(36,058	)
Total nonearning assets		420,191								391,024
Total assets	$	5,647,136							$	5,206,735
LIABILITIES AND STOCKHOLDERS’ EQUITY
Interest bearing liabilities:
Transaction deposits	$	731,827		$	534		0.15	%	$	717,783		$	802		0.23	%
Savings deposits		1,713,777			2,944		0.34			1,605,861			5,568		0.70
Time deposits		880,232			4,654		1.06			910,928			5,861		1.30
Short-term borrowings		7,626			16		0.42			6,594			7		0.21
Long-term borrowings		13,617			196		2.89			34,773			501		2.91
Junior subordinated debentures		35,387			1,151		6.52			28,866			1,050		7.34
Total interest bearing liabilities		3,382,466			9,495		0.56			3,304,805			13,789		0.84
Interest free funds:
Noninterest-bearing deposits		1,742,597								1,406,915
Interest payable and other liabilities		27,920								26,235
Stockholders’ equity		494,153								468,780
Total interest free funds		2,264,670								1,901,930
Total liabilities and stockholders’ equity	$	5,647,136							$	5,206,735
Net interest income				$	82,331							$	76,162
Net interest spread							2.96	%							2.93	%
Net interest margin							3.16	%							3.19	%

(1) Nonaccrual loans are included in the average loan balances and any interest on such nonaccrual loans is recognized on a cash basis.

34

Item 3. Quantitative and Qualitative Disclosures About Market Risk.

There have been no significant changes in the Registrant’s disclosures regarding market risk since December 31, 2011, the date of its most recent annual report to stockholders.

Item 4. Controls and Procedures.

The Company’s Chief Executive Officer, Chief Financial Officer and Disclosure Committee, which includes the Company’s Chief Risk Officer, Chief Asset Quality Officer, Chief Internal Auditor, Senior Vice President of Corporate Finance and Treasurer, Controller and General Counsel, have evaluated, as of the last day of the period covered by this report, the Company’s disclosure controls and procedures. Based on their evaluation they concluded that the disclosure controls and procedures of the Company are effective to ensure that information required to be disclosed by the Company in the reports filed or submitted by it under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported, within the time periods specified in the applicable rules and forms.

No changes were made to the Company’s internal control over financial reporting during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting.

PART II – OTHER INFORMATION

Item 1. Legal Proceedings.

The Company has been named as a defendant in various legal actions arising from the conduct of its normal business activities. Although the amount of any liability that could arise with respect to these actions cannot be accurately predicted, in the opinion of the Company, any such liability will not have a material adverse effect on the consolidated financial statements of the Company.

Item 1A. Risk Factors.

Except as set forth below, as of June 30, 2012, there have been no material changes from the risk factors previously disclosed in Part I, Item 1A, of the Company’s Annual Report on Form 10-K for the year ended December 31, 2011.

Regulatory reforms under consideration could have a significant impact on our business, financial condition and results of operations.

Recently proposed changes in the laws and regulations affecting financial institutions could cause us to report capital under new methodologies or incur increased costs as we evaluate the implications of new rules and respond to new requirements. Compliance with the proposed rules under Basel III and some of the provisions of the Dodd-Frank Act related to the capital treatment of junior subordinated debentures may increase our operating costs, require us to hold higher levels of regulatory capital or liquidity or both or otherwise adversely affect our business or financial results in the future. Our management is actively reviewing the provisions of Basel III and certain provisions of the Dodd-Frank Act and assessing its probable impact on our business, financial condition, and results of operations. However, because many aspects of Basel III and the Dodd-Frank Act are in the comment phase or subject to future rulemaking, it is difficult to precisely anticipate its overall financial impact on us at this time.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

The following table provides information with respect to purchases made by or on behalf of the Company or any “affiliated purchaser” (as defined in Rule 10b-18(a)(3) under the Securities Exchange Act of 1934), of the Company’s common stock during the three months ended June 30, 2012.

35

Period	Total Number of Shares Purchased (1)		Average Price Paid Per Share		Total Number of Shares Purchased as Part of Publicly Announced Plan		Maximum Number of  Shares That May Yet Be Purchased Under the Plan at the End of the Period
April 1, 2012 to April 30, 2012		—		—		—		241,751
May 1, 2012 to May 31, 2012		3,887	$	37.74		—		237,864
June 1, 2012 to June 30, 2012		2,900	$	37.65		—		234,964

(1) Represents repurchases made in connection with the Company’s November 1999 Stock Repurchase Program. The amount approved is subject to amendment. The Stock Repurchase Program will remain in effect until all shares are repurchased.

Item 3. Defaults Upon Senior Securities.

None.

Item 4. Mine Safety Disclosures.

None.

Item 5. Other Information.

None.

36

Item 6. Exhibits.

Exhibit Number		Exhibit
	3.1	Second Amended and Restated Certificate of Incorporation of BancFirst Corporation (filed as Exhibit 1 to the Company’s 8-A/A filed July 23, 1998 and incorporated herein by reference).
	3.2	Certificate of Amendment of the Second Amended and Restated Certificate of Incorporation of BancFirst Corporation dated June 15, 2004 (filed as Exhibit 3.5 to the Company’s Quarterly Report on Form 10-Q for the Quarter Ended June 30, 2004 and incorporated herein by reference).
	3.3	Certificate of Designation of Preferred Stock (filed as Exhibit 3.2 to the Company’s Annual Report on Form 10-K for the Year Ended December 31, 1998 and incorporated herein by reference).
	3.4	Amended By-Laws (filed as Exhibit 3.2 to the Company’s Annual Report on Form 10-K for the Year Ended December 31, 1992 and incorporated herein by reference).
	3.5	Resolution of the Board of Directors amending Section XXVII of the Company’s By-Laws (filed as Exhibit 3.1 to the Company’s Current Report on Form 8-K dated February 26, 2004 and incorporated herein by reference).
	3.6	Resolution of the Board of Directors amending Article XVI, Section 1 and Article XVII, Section 1 of the Company’s By-Laws (filed as Exhibit 3.1 to the Company’s Current Report on Form 8-K dated February 28, 2008 and incorporated herein by reference).
	4.1	Instruments defining the rights of securities holders (see Exhibits 3.1, 3.2, 3.3 and 3.4 above).
	4.2	Rights Agreement, dated as of February 25, 1999, between BancFirst Corporation and BancFirst, as Rights Agent, including as Exhibit A the form of Certificate of Designations of the Company setting forth the terms of the Preferred Stock, as Exhibit B the form of Right Certificate and as Exhibit C the form of Summary of Rights Agreement (filed as Exhibit 4.1 to the Company’s 8-K dated January 28, 2009 and incorporated herein by reference).
	4.3	Amendment No. 1 to Rights Agreement, dated as of February 25, 1999, between BancFirst Corporation and BancFirst, as Rights Agent (filed as Exhibit 4.2 to the Company’s 8-K dated January 28, 2009 and incorporated herein by reference).
	4.4	Form of Amended and Restated Trust Agreement relating to the 7.20% Cumulative Trust Preferred Securities of BFC Capital Trust II (filed as Exhibit 4.5 to the Company’s registration statement on Form S-3/A, File No. 333-112488 dated February 23, 2004, and incorporated herein by reference).
	4.5	Form of 7.20% Cumulative Trust Preferred Security Certificate for BFC Capital Trust II (filed as Exhibit D to Exhibit 4.5 to the Company’s registration statement on Form S-3/A, File No. 333-112488 dated February 23, 2004, and incorporated herein by reference).
	4.6	Form of Indenture relating to the 7.20% Junior Subordinated Deferrable Interest Debentures of BancFirst Corporation issued to BFC Capital Trust II (filed as Exhibit 4.1 on Form S-3 to the Company’s registration statement, File No. 333-112488 dated February 4, 2004, and incorporated herein by reference).
	4.7	Form of Certificate of 7.20% Junior Subordinated Deferrable Interest Debenture of BancFirst Corporation (filed as Exhibit 4.2 on Form S-3 to the Company’s registration statement, File No. 333-112488 dated February 4, 2004, and incorporated herein by reference).
	4.8	Form of Guarantee of BancFirst Corporation relating to the 7.20% Cumulative Trust Preferred Securities of BFC Capital Trust II (filed as Exhibit 4.7 to the Company’s registration statement on Form S-3/A, File No. 333-112488 dated February 23, 2004, and incorporated herein by reference).
	4.9	Form of Indenture relating to the Union National Bancshares, Inc. (BancFirst Corp. as successor) Fixed/Floating Rate Junior Subordinated Deferrable Interest Debentures, Form of Fixed/Floating Rate Junior Subordinated Deferrable Interest Debenture, and Form of Certificate to Trustee (filed as Exhibit 4.9 to the Company’s Annual Report on Form 10-K for the Year Ended December 31, 2010 and incorporated herein by reference).
	4.10	Form of Indenture relating to the FBC Financial Corporation (BancFirst Corp. as successor) Floating Rate Junior Subordinated Deferrable Interest Debentures, Form of Floating Rate Junior Subordinated Deferrable Interest Debenture, and Form of Certificate to Trustee (filed as Exhibit 4.10 to the Company’s Quarterly Report on Form 10-Q for the Quarter ended September 30, 2011 and incorporated herein by reference).
	10.1	Tenth Amended and Restated BancFirst Corporation Stock Option Plan (filed as Exhibit 4.1 to the Company’s registration statement on Form S-8, File No. 333-175914 dated July 29, 2011, and incorporated herein by reference).

37

Exhibit Number	Exhibit
10.2	BancFirst Corporation Employee Stock Ownership and Trust Agreement adopted December 21, 2006 effective January 1, 2007 (filed as Exhibit 10.2 to the Company’s Quarterly Report on Form 10-Q for the Quarter ended March 31, 2008 and incorporated herein by reference).
10.3	Second Amended and Restated BancFirst Corporation Non-Employee Directors’ Stock Option Plan (filed as Exhibit 10.7 to the Company’s Quarterly Report on Form 10-Q for the Quarter Ended June 30, 2009 and incorporated herein by reference).
10.4	Third Amended and Restated BancFirst Corporation Directors’ Deferred Stock Compensation Plan (filed as Exhibit 10.8 to the Company’s Quarterly Report on Form 10-Q for the Quarter Ended June 30, 2009 and incorporated herein by reference).
10.5	Amended and Restated BancFirst Corporation Thrift Plan adopted March 25, 2010 effective January 1, 2010 (filed as Exhibit 10.6 to the Company’s Quarterly Report on Form 10-Q for the Quarter Ended June 30, 2010 and incorporated herein by reference).
10.6	Amendment (Code Section 415 Compliance) to the BancFirst Corporation Employee Stock Ownership Plan and Trust Agreement, adopted July 23, 2009 (filed as Exhibit 10.7 to the Company’s Quarterly Report on Form 10-Q for the Quarter Ended June 30, 2010 and incorporated herein by reference).
10.7	Amendment (Pension Protection Act, Heart Act and the Worker, Retiree, and Employer Recovery Act) to the BancFirst Corporation Employee Stock Ownership Plan and Trust Agreement, adopted December 17, 2009 (filed as Exhibit 10.8 to the Company’s Quarterly Report on Form 10-Q for the Quarter Ended June 30, 2010 and incorporated herein by reference).
10.8	Amendment to the Amended and Restated BancFirst Corporation Thrift Plan adopted December 16, 2010 effective January 1, 2011 (filed as Exhibit 10.9 to the Company’s Annual Report on Form 10-K for the Year Ended December 31, 2010 and incorporated herein by reference).
10.9	Amendment to the Amended and Restated BancFirst Corporation Thrift Plan adopted October 27, 2011 effective October 1, 2011 (filed as Exhibit 10.9 to the Company’s Annual Report on Form 10-K for the Year Ended December 31, 2011 and incorporated herein by reference).
10.10	Amendment to the Amended and Restated BancFirst Corporation Employee Ownership Plan adopted October 27, 2011 effective October 1, 2011 (filed as Exhibit 10.10 to the Company’s Annual Report on Form 10-K for the Year Ended December 31, 2011 and incorporated herein by reference).
31.1*	Chief Executive Officer’s Certification pursuant to Rule 13a-14(a) or Rule 15d-14(a).
31.2*	Chief Financial Officer’s Certification pursuant to Rule 13a-14(a) or Rule 15d-14(a).
32.1*	CEO’s Certification Pursuant to 18 U.S.C. Section 1350, As Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
32.2*	CFO’s Certification Pursuant to 18 U.S.C. Section 1350, As Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
101.INS**	XBRL Instance Document
101.SCH**	XBRL Taxonomy Extension Schema
101.CAL**	XBRL Taxonomy Extension Calculation Linkbase
101.DEF**	XBRL Taxonomy Extension Definition Linkbase
101.LAB**	XBRL Taxonomy Extension Label Linkbase
101.PRE**	XBRL Taxonomy Extension Presentation Linkbase

* Filed herewith.

** Furnished herewith.

38

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	BANCFIRST CORPORATION
	(Registrant)
Date: August 9, 2012	/s/ Joe T. Shockley, Jr.
	Joe T. Shockley, Jr.
	Executive Vice President
	Chief Financial Officer
	(Duly Authorized Officer and
	Principal Financial Officer)

39

EX-31.1

Exhibit 31.1

CEO’S CERTIFICATION PURSUANT TO RULE 13a-14(a) OR RULE 15d-14(a)

I, David E. Rainbolt, certify that:

1. I have reviewed this quarterly report on Form 10-Q for the quarterly period ended June 30, 2012 of BancFirst Corporation;

2. Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report;

3. Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a – 15 (e) and 15d – 15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a – 15(f) and 15d – 15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this quarterly report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this quarterly report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this quarterly report based on such evaluation; and

d) Disclosed in this quarterly report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors:

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal controls over financial reporting.

Date: August 9, 2012	/s/ David E. Rainbolt
	David E. Rainbolt
	President and Chief Executive Officer
	(Principal Executive Officer)

EX-31.2

Exhibit 31.2

CFO’S CERTIFICATION PURSUANT TO RULE 13a-14(a) OR RULE 15d-14(a)

I, Joe T. Shockley, Jr., certify that:

1. I have reviewed this quarterly report on Form 10-Q for the quarterly period ended June 30, 2012 of BancFirst Corporation;

2. Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report;

3. Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a – 15 (e) and 15d – 15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a – 15(f) and 15d – 15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this quarterly report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this quarterly report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this quarterly report based on such evaluation; and

d) Disclosed in this quarterly report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors:

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal controls over financial reporting.

Date: August 9, 2012	/s/ Joe T. Shockley, Jr.
	Joe T. Shockley, Jr.
	Executive Vice President and Chief Financial Officer
	(Principal Financial Officer)

EX-32.1

Exhibit 32.1

CEO’S CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report on Form 10-Q of BancFirst Corporation (the “Company”) for the period ended June 30, 2012 as filed with the Securities and Exchange Commission (the “Report”), I, David E. Rainbolt, Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. section 1350, as adopted pursuant to section 906 of the Sarbanes-Oxley Act of 2002, that to the best of my knowledge:

(1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ David E. Rainbolt

David E. Rainbolt

President and Chief Executive Officer

(Principal Executive Officer)

August 9, 2012

EX-32.2

Exhibit 32.2

CFO’S CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report on Form 10-Q of BancFirst Corporation (the “Company”) for the period ended June 30, 2012 as filed with the Securities and Exchange Commission (the “Report”), I, Joe T. Shockley, Jr., Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. section 1350, as adopted pursuant to section 906 of the Sarbanes-Oxley Act of 2002, that to the best of my knowledge:

(1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ Joe T. Shockley, Jr.

Joe T. Shockley, Jr.

Executive Vice President and Chief Financial Officer

(Principal Financial Officer)

August 9, 2012

XML

Loans and Allowance for Loan Losses (Details 1) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011	Jun. 30, 2011
Summary of nonperforming and restructured assets
Past due over 90 days and still accruing	$ 1,403	$ 798	$ 1,166
Nonaccrual	20,702	21,187	22,469
Restructured	18,089	1,041	344
Total nonperforming and restructured loans	40,194	23,026	23,979
Other real estate owned and repossessed assets	10,223	16,640	15,501
Total nonperforming and restructured assets	$ 50,417	$ 39,666	$ 39,480
Nonperforming and restructured loans to total loans	1.31%	0.76%	0.84%
Nonperforming and restructured assets to total assets	0.89%	0.71%	0.75%

XML

Stock-Based Compensation (Details 5)	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Assumptions used for computing share-based employee compensation expense
Risk-free interest rate	1.78%	3.61%
Dividend yield	2.00%	2.00%
Stock price volatility	38.72%	25.26%
Expected term	10 years	10 years

XML

Junior Subordinated Debentures (Details Textual) (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2012	Dec. 31, 2011	Jun. 30, 2011
Debt Instrument [Line Items]
Junior subordinated notes	$ 26,804	$ 36,083	$ 28,866
Junior subordinated debentures (Textual) [Abstract]
Debt instrument deferment period	On June 15, 2012, BancFirst Corporation called the Union National Statutory Trust I (“UNST I”), Junior Subordinated Debentures.On June 18, 2012, BancFirst Corporation called the FBC Financial Corp. Statutory Trust I (“FBCST I”), Junior Subordinated Debentures.
BFC II [Member]
Debt Instrument [Line Items]
Junior subordinated notes	26,804	26,804
Debt instrument maturity date	Mar. 31, 2034
Subordinated borrowing interest rate	7.20%
UNST I [Member]
Debt Instrument [Line Items]
Junior subordinated notes		2,062
Debt instrument maturity date	Mar. 15, 2036
Debt instrument, interest rate terms	3 month LIBOR + 1.65%
FBCST I [Member]
Debt Instrument [Line Items]
Junior subordinated notes		$ 7,217
Debt instrument maturity date	Dec. 17, 2033
Debt instrument, interest rate terms	3 month LIBOR + 2.85%

XML

Stock-Based Compensation (Details Textual)	6 Months Ended
	Jun. 30, 2012	May 31, 2011
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation options exercisable period	2015
Share-based compensation arrangement by share based payment award (Textual) [Abstract]
Number of options granted for non-employee director	10,000
Vesting period in years	7 years
Incentive Stock Option Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares to be issued under incentive stock option plan		2,800,000
Shares for future grants	64,860
Option exercisable rate	25.00%
Option exercisable period	4 years
Options expire period	15 years
Minimum stock price at time of exercise of options, percentage	100.00%
Non-Employee Directors Stock Option Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares to be issued under incentive stock option plan	205,000
Shares for future grants	30,000
Option exercisable rate	25.00%
Option exercisable period	4 years
Options expire period	15 years
Minimum stock price at time of exercise of options, percentage	100.00%

XML

Loans and Allowance for Loan Losses (Details Textual) (USD $)	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Loans and allowance for loan losses (Textual) [Abstract]
Percentage of loans secured by real estate	60.00%
Interest income recognized	$ 654,000	$ 562,000

XML

Securities (Details 1) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012
Unrealized gains and losses and estimated market values of debt securities held for investment
Amortized Cost	$ 19,734
Gross Unrealized Gains	370
Gross Unrealized Losses
Estimated Market Value	20,104
U.S. treasury and other Federal agencies [Member]
Unrealized gains and losses and estimated market values of debt securities held for investment
Amortized Cost	901
Gross Unrealized Gains	68
Gross Unrealized Losses
Estimated Market Value	969
States and political subdivisions [Member]
Unrealized gains and losses and estimated market values of debt securities held for investment
Amortized Cost	18,833
Gross Unrealized Gains	302
Gross Unrealized Losses
Estimated Market Value	$ 19,135

XML

Stockholder's Equity (Details 1) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012
Required capital amounts and company respective ratios
Tier 1 Risk Based Capital Required To Be Well Capitalized To Risk Weighted Assets Ratio	6.00%
Tier 1 Capital Required To Be Well Capitalized To Average assets Ratio	5.00%
BancFirst Corporation [Member]
Required capital amounts and company respective ratios
Total Capital To Risk Weighted Assets Actual Amount	500,048
Total Capital To Risk Weighted Assets Actual Ratio	14.62%
Capital required For Capital Adequacy Amount	273,588
Capital Required For Capital Adequacy to Risk Weighted Assets Ratio	8.00%
Tier 1 Risk Based Capital Amount	462,612
Tier 1 Risk Based Capital To Risk Weighted Assets Ratio	13.53%
Tier 1 Risk Based Capital Required For Capital Adequacy Amount	136,794
Tier 1 Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets Ratio	4.00%
Tier 1 Capital Amount	462,612
Tier 1 Capital To Average Assets Ratio	8.24%
Tier 1 Capital Required For Capital Adequacy Amount	170,193
Tier 1 Capital Required For Capital Adequacy To Average Assets Ratio	3.00%
BancFirst [Member]
Required capital amounts and company respective ratios
Total Capital To Risk Weighted Assets Actual Amount	475,563
Total Capital To Risk Weighted Assets Actual Ratio	13.94%
Capital required For Capital Adequacy Amount	272,894
Capital Required For Capital Adequacy to Risk Weighted Assets Ratio	8.00%
Capital Required To Be Well Capitalized Amount	341,118
Capital Required To Be Well Capitalized To Risk Weighted Assets Ratio	10.00%
Tier 1 Risk Based Capital Amount	438,127
Tier 1 Risk Based Capital To Risk Weighted Assets Ratio	12.84%
Tier 1 Risk Based Capital Required For Capital Adequacy Amount	136,447
Tier 1 Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets Ratio	4.00%
Tier 1 Risk Based Capital Required To Be well Capitalized Amount	204,671
Tier 1 Risk Based Capital Required To Be Well Capitalized To Risk Weighted Assets Ratio	6.00%
Tier 1 Capital Amount	438,127
Tier 1 Capital To Average Assets Ratio	7.81%
Tier 1 Capital Required For Capital Adequacy Amount	169,614
Tier 1 Capital Required For Capital Adequacy To Average Assets Ratio	3.00%
Tier 1 Capital Required To Be Well Capitalized Amount	282,690
Tier 1 Capital Required To Be Well Capitalized To Average assets Ratio	5.00%

XML

Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2012

Stock-Based Compensation [Abstract]

Summary of the activity under stock option plan

	Options			Wgtd. Avg. Exercise Price		Wgtd. Avg. Remaining Contractual Term			Aggregate Intrinsic Value
	(Dollars in thousands, except per share data)
Six Months Ended June 30, 2012
Outstanding at December 31, 2011		1,298,431		$	30.14
Options granted		—			—
Options exercised		(42,133	)		17.13
Options canceled, forfeited, or expired		—			—
Outstanding at June 30, 2012		1,256,298			30.58		8.39	Yr	$	14,237
Exercisable at June 30, 2012		699,848			24.44		5.27	Yr	$	12,223

Non-vested options and changes

	Options
Non-vested at December 31, 2011		591,700
Options granted		—
Options vested		(35,250	)
Options forfeited		—
Non-vested at June 30, 2012		556,450

Options granted and options exercised under stock option plan

	Three Months Ended June  30,				Six Months Ended June 30,
	2012		2011		2012		2011
	(Dollars in thousands, except per share data)
Weighted average grant-date fair value per share of options granted	$	—	$	11.36	$	—	$	12.48
Total intrinsic value of options exercised		617		—		1,749		405
Cash received from options exercised		239		—		722		438
Tax benefit realized from options exercised		239		—		677		157

Stock-based employee compensation expense

	Three Months Ended June 30,						Six Months Ended June 30,
	2012			2011			2012			2011
	(Dollars in thousands)
Stock-based compensation expense	$	357		$	271		$	798		$	646
Tax		(138	)		(105	)		(309	)		(250	)
Stock-based compensation expense, net of tax	$	219		$	166		$	489		$	396

Remaining fair value of stock options

	June 30, 2012
	(Dollars in thousands)
Fair value of stock options	$	5,675

Assumptions used for computing stock-based employee compensation expense

	Six Months Ended June  30,
	2012			2011
Risk-free interest rate		1.78	%		3.61	%
Dividend yield		2.00	%		2.00	%
Stock price volatility		38.72	%		25.26	%
Expected term		10	Yrs		10	Yrs

XML

Stock-Based Compensation (Details 1)	6 Months Ended
	Jun. 30, 2012
Non-vested options and changes
Non-vested at December 31, 2011	591,700
Options granted
Options vested	(35,250)
Options forfeited
Non-vested at June 30, 2012	556,450

XML

Loans and Allowance for Loan Losses (Details 4) (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Impaired loans segregated by class of loans
Unpaid Principal Balance	$ 52,067	$ 24,220
Recorded Investment with Allowance	47,579	22,469
Related Allowance	4,454	3,188
Average Recorded Investment	50,266	24,403
Non-residential real estate [Member]
Impaired loans segregated by class of loans
Unpaid Principal Balance	28,184	9,723
Recorded Investment with Allowance	27,165	9,235
Related Allowance	2,122	978
Average Recorded Investment	27,397	10,223
Residential real estate [Member]
Impaired loans segregated by class of loans
Unpaid Principal Balance	5,839	6,466
Recorded Investment with Allowance	5,384	5,860
Related Allowance	1,468	1,520
Average Recorded Investment	5,547	6,511
Non-consumer non-real estate [Member]
Impaired loans segregated by class of loans
Unpaid Principal Balance	1,792	1,873
Recorded Investment with Allowance	1,163	1,547
Related Allowance	302	358
Average Recorded Investment	1,512	1,806
Consumer non-real estate [Member]
Impaired loans segregated by class of loans
Unpaid Principal Balance	349	211
Recorded Investment with Allowance	325	178
Related Allowance	59	47
Average Recorded Investment	389	212
Other loans [Member]
Impaired loans segregated by class of loans
Unpaid Principal Balance	2,255	4,418
Recorded Investment with Allowance	2,020	4,285
Related Allowance	212	193
Average Recorded Investment	2,158	4,312
Acquired loans [Member]
Impaired loans segregated by class of loans
Unpaid Principal Balance	13,648	1,529
Recorded Investment with Allowance	11,522	1,364
Related Allowance	291	92
Average Recorded Investment	$ 13,263	$ 1,339

XML

Securities (Details Textual) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012
Securities (Textual) [Abstract]
Held for investment Market value	$ 20,104

XML

Stock-Based Compensation (Details 3) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Stock-based employee compensation expense
Stock-based compensation expense	$ 357	$ 271	$ 798	$ 646
Tax	(138)	(105)	(309)	(250)
Stock-based compensation expense, net of tax	$ 219	$ 166	$ 489	$ 396

XML

Derivative Financial Instruments (Details 2) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012
Net Credit Exposure Relating to Oil and Gas Swaps
Credit exposure	$ 7,201

XML

Fair Value Measurements (Details) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011	Jun. 30, 2011
Fair value of financial assets and liabilities measured on recurring basis
Securities available for sale	$ 555,300		$ 554,405
Derivative assets	7,652		6,663
Derivative liabilities	5,648		5,136
Loans held for sale	16,612	12,126	11,258
Mortgage servicing intangibles	915
Level 1 Inputs [Member]
Fair value of financial assets and liabilities measured on recurring basis
Securities available for sale			35,096
Mortgage servicing intangibles
Level 2 Inputs [Member]
Fair value of financial assets and liabilities measured on recurring basis
Securities available for sale	544,813		506,811
Derivative assets	7,652		6,663
Derivative liabilities	5,648		5,136
Loans held for sale	16,612		11,258
Mortgage servicing intangibles
Level 3 Inputs [Member]
Fair value of financial assets and liabilities measured on recurring basis
Securities available for sale	10,487		12,498
Mortgage servicing intangibles	$ 915

XML

Intangible Assets (Details) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012
Summary of intangible assets
Gross Carrying Amount	$ 21,443
Accumulated Amortization	(8,285)
Net Carrying Amount	13,158
Core deposit intangibles [Member]
Summary of intangible assets
Gross Carrying Amount	14,800
Accumulated Amortization	(6,402)
Net Carrying Amount	8,398
Customer relationship intangibles [Member]
Summary of intangible assets
Gross Carrying Amount	5,657
Accumulated Amortization	(1,812)
Net Carrying Amount	3,845
Mortgage Servicing Intangibles [Member]
Summary of intangible assets
Gross Carrying Amount	986
Accumulated Amortization	(71)
Net Carrying Amount	$ 915

XML

Recent Developments Including Mergers and Acquisitions

6 Months Ended

Jun. 30, 2012

Recent Developments Including Mergers and Acquisitions [Abstract]

RECENT DEVELOPMENTS, INCLUDING MERGERS AND ACQUISITIONS

(2) RECENT DEVELOPMENTS, INCLUDING MERGERS AND ACQUISITIONS

On January 19, 2012, Council Oak Investment Corporation, a wholly-owned subsidiary of BancFirst, completed the sale of one of its investments that resulted in a pretax gain of approximately $4.5 million. After related expenses and income taxes, the increase in net income approximated $2.6 million or $0.17 per share on a fully diluted basis. The gain was included in first quarter 2012 earnings.

On July 12, 2011, the Company completed the acquisition of FBC Financial Corporation and its subsidiary bank, 1st Bank Oklahoma with banking locations in Claremore, Verdigris, and Inola, Oklahoma. The Company paid a premium of $1.5 million above the equity capital of FBC Financial Corporation. At acquisition, 1st Bank Oklahoma had approximately $217 million in total assets, $116 million in loans, $178 million in deposits and $18 million in equity capital. 1 ^st Bank Oklahoma operated as a subsidiary of BancFirst Corporation until it was merged into BancFirst on February 17, 2012. The acquisition did not have a material effect on the Company’s consolidated financial statements.

The Federal Reserve enacted a final rule on June 29, 2011 establishing the debit card interchange rate at $0.21 per transaction and five basis points multiplied by the value of the transaction that was effective on October 1, 2011 for banks exceeding $10 billion in assets. Although the rule does not apply directly to the Company, the possible competitive response may have an impact on the Company’s pricing of these services.

XML

Fair Value Measurements (Details 1) (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Changes in level 3 assets measured at estimated fair value on a recurring basis
Beginning balance	$ 13,225	$ 10,837
Purchases, issuances and settlements	1,770
Sales	(534)	(189)
(Losses) gains included in earnings	(596)	20
Total unrealized (losses) gains	(2,463)	1,830
Ending balance	$ 11,402	$ 12,498

XML

Loans and Allowance for Loan Losses (Details 5) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011	Jun. 30, 2011
Internal loan grading by class of loans
Total loans	$ 3,065,439	$ 3,013,498	$ 2,861,844
Grade 1 [Member]
Internal loan grading by class of loans
Total loans	2,662,879		2,502,004
Grade 2 [Member]
Internal loan grading by class of loans
Total loans	319,097		269,320
Grade 3 [Member]
Internal loan grading by class of loans
Total loans	62,692		69,746
Grade 4 [Member]
Internal loan grading by class of loans
Total loans	20,771		20,676
Grade 5 [Member]
Internal loan grading by class of loans
Total loans			98
Non-residential real estate [Member]
Internal loan grading by class of loans
Total loans	1,141,051		980,702
Non-residential real estate [Member] | Grade 1 [Member]
Internal loan grading by class of loans
Total loans	983,946		834,857
Non-residential real estate [Member] | Grade 2 [Member]
Internal loan grading by class of loans
Total loans	118,825		103,359
Non-residential real estate [Member] | Grade 3 [Member]
Internal loan grading by class of loans
Total loans	28,514		33,446
Non-residential real estate [Member] | Grade 4 [Member]
Internal loan grading by class of loans
Total loans	9,766		9,040
Residential real estate [Member]
Internal loan grading by class of loans
Total loans	721,149		689,169
Residential real estate [Member] | Grade 1 [Member]
Internal loan grading by class of loans
Total loans	619,115		601,469
Residential real estate [Member] | Grade 2 [Member]
Internal loan grading by class of loans
Total loans	81,324		68,651
Residential real estate [Member] | Grade 3 [Member]
Internal loan grading by class of loans
Total loans	15,920		12,970
Residential real estate [Member] | Grade 4 [Member]
Internal loan grading by class of loans
Total loans	4,790		6,079
Non-consumer non-real estate [Member]
Internal loan grading by class of loans
Total loans	697,416		712,438
Non-consumer non-real estate [Member] | Grade 1 [Member]
Internal loan grading by class of loans
Total loans	610,214		638,872
Non-consumer non-real estate [Member] | Grade 2 [Member]
Internal loan grading by class of loans
Total loans	78,825		61,481
Non-consumer non-real estate [Member] | Grade 3 [Member]
Internal loan grading by class of loans
Total loans	7,211		10,710
Non-consumer non-real estate [Member] | Grade 4 [Member]
Internal loan grading by class of loans
Total loans	1,166		1,375
Consumer non-real estate [Member]
Internal loan grading by class of loans
Total loans	200,427		198,578
Consumer non-real estate [Member] | Grade 1 [Member]
Internal loan grading by class of loans
Total loans	187,768		189,220
Consumer non-real estate [Member] | Grade 2 [Member]
Internal loan grading by class of loans
Total loans	10,204		6,891
Consumer non-real estate [Member] | Grade 3 [Member]
Internal loan grading by class of loans
Total loans	2,122		2,172
Consumer non-real estate [Member] | Grade 4 [Member]
Internal loan grading by class of loans
Total loans	333		295
Other loans [Member]
Internal loan grading by class of loans
Total loans	155,984		160,237
Other loans [Member] | Grade 1 [Member]
Internal loan grading by class of loans
Total loans	151,330		153,104
Other loans [Member] | Grade 2 [Member]
Internal loan grading by class of loans
Total loans	2,917		2,463
Other loans [Member] | Grade 3 [Member]
Internal loan grading by class of loans
Total loans	1,027		2,050
Other loans [Member] | Grade 4 [Member]
Internal loan grading by class of loans
Total loans	710		2,620
Acquired loans [Member]
Internal loan grading by class of loans
Total loans	149,412		120,720
Acquired loans [Member] | Grade 1 [Member]
Internal loan grading by class of loans
Total loans	110,506		84,482
Acquired loans [Member] | Grade 2 [Member]
Internal loan grading by class of loans
Total loans	27,002		26,475
Acquired loans [Member] | Grade 3 [Member]
Internal loan grading by class of loans
Total loans	7,898		8,398
Acquired loans [Member] | Grade 4 [Member]
Internal loan grading by class of loans
Total loans	4,006		1,267
Acquired loans [Member] | Grade 5 [Member]
Internal loan grading by class of loans
Total loans			$ 98

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Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2012

Derivative Financial Instruments [Abstract]

Notional amounts and estimated fair values of outstanding derivative positions

	June 30, 2012
Oil and Natural Gas Swaps and Options	Notional Units	Notional Amount			Estimated Fair  Value
	(Notional amounts and dollars in thousands)
Oil
Derivative assets	Barrels		633		$	5,062
Derivative liabilities	Barrels		(633	)		(3,838	)
Natural Gas
Derivative assets	MMBTUs		4,627			2,590
Derivative liabilities	MMBTUs		(4,627	)		(1,810	)
Total Fair Value	Included in
Derivative assets	Other assets					7,652
Derivative liabilities	Other liabilities					5,648

Recognized derivative income included in other noninterest income

	Three Months Ended June  30,				Six Months Ended June  30,
	2012		2011		2012		2011
	(Dollars in thousands)
Derivative income	$	141	$	74	$	350	$	198

Summary of the Company's net credit exposure relating to oil and gas swaps

	June 30, 2012
	(Dollars in thousands)
Credit exposure	$	7,201

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Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2012

Fair Value Measurements [Abstract]

Fair value of financial assets and liabilities measured on recurring basis

	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total Fair Value
	(Dollars in thousands)
June 30, 2012
Securities available for sale	$	—	$	544,813	$	10,487	$	555,300
Derivative assets		—		7,652		—		7,652
Derivative liabilities		—		5,648		—		5,648
Loans held for sale		—		16,612		—		16,612
Mortgage servicing intangibles		—		—		915		915
June 30, 2011
Securities available for sale	$	35,096	$	506,811	$	12,498	$	554,405
Derivative assets		—		6,663		—		6,663
Derivative liabilities		—		5,136		—		5,136
Loans held for sale		—		11,258		—		11,258
Mortgage servicing intangibles		—		—		—		—

Changes in level 3 assets measured at estimated fair value on a recurring basis

	Six Months Ended June 30,
	2012			2011
	(Dollars in thousands)
Balance at the beginning of the year	$	13,225		$	10,837
Purchases, issuances and settlements		1,770			—
Sales		(534	)		(189	)
(Losses) gains included in earnings		(596	)		20
Total unrealized (losses) gains		(2,463	)		1,830
Balance at the end of the period	$	11,402		$	12,498

Assets measured at fair value on a nonrecurring basis

	Level 1		Level 2		Level 3		Total Fair Value		Gains (Losses)
	(Dollars in thousands)
Six Months Ended June 30, 2012
Impaired loans		—		—	$	43,125	$	43,125	$	—
Foreclosed assets		—		—	$	135	$	135	$	(86	)
Other real estate owned		—		—	$	10,088	$	10,088	$	(1,067	)
Six Months Ended June 30, 2011
Impaired loans		—		—	$	19,281	$	19,281	$	—
Foreclosed assets		—		—	$	510	$	510	$	1
Other real estate owned		—		—	$	14,991	$	14,991	$	291

Estimated fair values of company's financial instruments

	June 30,
	2012					2011
	Carrying Amount			Fair Value		Carrying Amount			Fair Value
	(Dollars in thousands)
FINANCIAL ASSETS
Cash and cash equivalents	$	1,763,908		$	1,763,908	$	1,571,199		$	1,571,199
Securities held for investment		19,734			20,104		25,654			26,225
Loans:
Loans (net of unearned interest)		3,065,439					2,861,844
Allowance for loan losses		(37,436	)				(37,092	)
Loans, net		3,028,003			3,092,725		2,824,752			2,843,098
FINANCIAL LIABILITIES
Deposits		5,099,648			5,121,335		4,701,999			4,732,880
Short-term borrowings		6,340			6,340		1,400			1,400
Long-term borrowings		11,329			11,431		32,121			32,620
Junior subordinated debentures		26,804			28,970		28,866			31,997
OFF-BALANCE SHEET FINANCIAL INSTRUMENTS
Loan commitments					1,321					1,058
Letters of credit					428					441

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Stockholder's Equity (Details) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Summary of shares repurchased under stock purchase program
Number of shares repurchased	6,787	117,176	6,787	117,176
Average price of shares repurchased	$ 37.70	$ 37.75	$ 37.70	$ 37.75
Shares remaining to be repurchased	234,964	426,724	234,964	426,724

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Loans and Allowance for Loan Losses (Details 6) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011	Dec. 31, 2011
Activity in ALLL by class of loans
Beginning balance	$ 37,633	$ 36,136	$ 37,656	$ 35,745
Charge-offs	(512)	(1,174)	(1,063)	(1,735)
Recoveries	86	117	422	281
Net charge-offs	(445)	(1,057)	(641)	(1,454)
Provisions charged to operations	248	2,013	421	2,801
Ending balance	37,436	37,092	37,436	37,092
Individually evaluated for impairment	7,680	8,611	7,680	8,611
Collectively evaluated for impairment	29,756	28,481	29,756	28,481
Allowance for credit losses: Balance at end of period	37,436	37,092	37,436	37,092
Individually evaluated for impairment	69,929	76,500	69,929	76,500
Collectively evaluated for impairment	2,983,606	2,775,581	2,983,606	2,775,581
Loans acquired with deteriorated credit quality	11,904	9,763	11,904	9,763
Ending balance	3,065,439	2,861,844	3,065,439	2,861,844	3,013,498
Non-residential real estate [Member]
Activity in ALLL by class of loans
Beginning balance	14,109	12,979	13,948	13,142
Charge-offs	(7)	(136)	(128)	(269)
Recoveries	(6)	7	31	16
Net charge-offs	(13)	(129)	(97)	(253)
Provisions charged to operations	(253)	801	498	762
Ending balance	14,349	13,651	14,349	13,651
Individually evaluated for impairment	2,986	3,694	2,986	3,694
Collectively evaluated for impairment	11,363	9,957	11,363	9,957
Allowance for credit losses: Balance at end of period	14,349	13,651	14,349	13,651
Individually evaluated for impairment	38,278	42,486	38,278	42,486
Collectively evaluated for impairment	1,102,773	938,216	1,102,773	938,216
Ending balance	1,141,051	980,702	1,141,051	980,702
Residential real estate [Member]
Activity in ALLL by class of loans
Beginning balance	9,762	9,612	9,764	8,957
Charge-offs	(95)	(312)	(131)	(501)
Recoveries	13	39	109	95
Net charge-offs	(82)	(273)	(22)	(406)
Provisions charged to operations	326	41	264	829
Ending balance	10,006	9,380	10,006	9,380
Individually evaluated for impairment	2,760	2,314	2,760	2,314
Collectively evaluated for impairment	7,246	7,066	7,246	7,066
Allowance for credit losses: Balance at end of period	10,006	9,380	10,006	9,380
Individually evaluated for impairment	20,710	19,049	20,710	19,049
Collectively evaluated for impairment	700,439	670,120	700,439	670,120
Ending balance	721,149	689,169	721,149	689,169
Non-consumer non-real estate [Member]
Activity in ALLL by class of loans
Beginning balance	9,198	9,165	9,156	9,587
Charge-offs	(313)	(179)	(330)	(184)
Recoveries	26	29	124	84
Net charge-offs	(287)	(150)	(206)	(100)
Provisions charged to operations	(353)	319	(392)	(153)
Ending balance	8,558	9,334	8,558	9,334
Individually evaluated for impairment	1,436	2,021	1,436	2,021
Collectively evaluated for impairment	7,122	7,313	7,122	7,313
Allowance for credit losses: Balance at end of period	8,558	9,334	8,558	9,334
Individually evaluated for impairment	8,377	12,085	8,377	12,085
Collectively evaluated for impairment	689,039	700,353	689,039	700,353
Ending balance	697,416	712,438	697,416	712,438
Consumer non-real estate [Member]
Activity in ALLL by class of loans
Beginning balance	2,283	2,258	2,315	2,301
Charge-offs	(77)	(223)	(191)	(328)
Recoveries	32	36	116	68
Net charge-offs	(45)	(187)	(75)	(260)
Provisions charged to operations	44	166	42	196
Ending balance	2,282	2,237	2,282	2,237
Individually evaluated for impairment	302	297	302	297
Collectively evaluated for impairment	1,980	1,940	1,980	1,940
Allowance for credit losses: Balance at end of period	2,282	2,237	2,282	2,237
Individually evaluated for impairment	2,455	2,467	2,455	2,467
Collectively evaluated for impairment	197,972	196,111	197,972	196,111
Ending balance	200,427	198,578	200,427	198,578
Other loans [Member]
Activity in ALLL by class of loans
Beginning balance	1,850	1,699	1,886	1,758
Charge-offs	(27)	(22)	(207)	(122)
Recoveries	12	5	31	7
Net charge-offs	(15)	(17)	(176)	(115)
Provisions charged to operations	19	30	144	69
Ending balance	1,854	1,712	1,854	1,712
Individually evaluated for impairment	196	285	196	285
Collectively evaluated for impairment	1,658	1,427	1,658	1,427
Allowance for credit losses: Balance at end of period	1,854	1,712	1,854	1,712
Individually evaluated for impairment	109	413	109	413
Collectively evaluated for impairment	155,875	159,824	155,875	159,824
Ending balance	155,984	160,237	155,984	160,237
Acquired loans [Member]
Activity in ALLL by class of loans
Beginning balance	431	423	587
Charge-offs	(12)	(302)	(76)	(331)
Recoveries	9	1	11	11
Net charge-offs	(3)	(301)	(65)	(320)
Provisions charged to operations	(41)	656	(135)	1,098
Ending balance	387	778	387	778
Collectively evaluated for impairment	387	778	387	778
Allowance for credit losses: Balance at end of period	387	778	387	778
Individually evaluated for impairment
Collectively evaluated for impairment	137,508	110,957	137,508	110,957
Loans acquired with deteriorated credit quality	11,904	9,763	11,904	9,763
Ending balance	$ 149,412	$ 120,720	$ 149,412	$ 120,720

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Segment Information (Tables)

6 Months Ended

Jun. 30, 2012

Segment Information [Abstract]

Results of operations and selected financial information

	Metropolitan Banks		Community Banks		Other Financial Services		Executive, Operations & Support			Eliminations			Consolidated
	(Dollars in thousands)
Three Months Ended:
June 30, 2012
Net interest income (expense)	$	13,354	$	26,384	$	1,721	$	(590	)	$	—		$	40,869
Noninterest income		2,672		10,721		6,214		13,245			(12,488	)		20,364
Income before taxes		8,220		14,944		2,011		5,686			(12,439	)		18,422
June 30, 2011
Net interest income (expense)	$	12,311	$	24,921	$	1,759	$	(985	)	$	—		$	38,006
Noninterest income		2,706		9,647		6,427		11,616			(10,717	)		19,679
Income before taxes		6,398		13,616		3,132		3,603			(10,687	)		16,062
Six Months Ended:
June 30, 2012
Net interest income (expense)	$	26,517	$	53,015	$	3,434	$	(1,280	)	$	—		$	81,686
Noninterest income		5,353		20,856		16,078		28,626			(27,112	)		43,801
Income before taxes		16,652		30,199		8,398		12,219			(27,002	)		40,466
June 30, 2011
Net interest income (expense)	$	24,483	$	49,058	$	3,751	$	(1,997	)	$	—		$	75,295
Noninterest income		5,512		18,685		11,581		24,264			(22,633	)		37,409
Income before taxes		14,880		26,836		5,632		9,090			(22,542	)		33,896
Total Assets:
June 30, 2012	$	1,801,752	$	3,688,931	$	130,762	$	607,662		$	(557,396	)	$	5,671,711
December 31, 2011	$	1,738,426	$	3,660,239	$	153,872	$	602,577		$	(546,289	)	$	5,608,825
June 30, 2011	$	1,656,064	$	3,401,037	$	151,220	$	605,726		$	(546,602	)	$	5,267,445

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Recent Developments Including Mergers and Acquisitions (Details) (USD $)	6 Months Ended
	Jun. 30, 2012	Dec. 31, 2011	Jun. 30, 2011	Jun. 29, 2011
Pretax gain on sale of investments	$ 4,500,000
Gain on sale of investments, Net of tax	2,600,000
Gain on sale of investments, Net of tax shares	$ 0.17
Total assets	5,671,711,000	5,608,825,000	5,267,445,000	10,000,000,000
Loans	3,028,003,000	2,975,842,000	2,824,752,000
Deposits	5,099,648,000	5,037,735,000	4,701,999,000
Equity capital	499,561,000	483,041,000	470,397,000
Recent Transactions Including Mergers Acquisitions (Textual) [Abstract]
Interchange rate				0.21
Basis points	0.05%
FBC Financial Corporation [Member]
Premium paid above equity capital	1,500,000
1st Bank Oklahoma [Member]
Total assets	217,000,000
Loans	116,000,000
Deposits	178,000,000
Equity capital	$ 18,000,000

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Description of Business and Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2012

Description of Business and Summary of Significant Accounting Policies [Abstract]

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(1) DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The accounting and reporting policies of BancFirst Corporation and its subsidiaries (the “Company”) conform to generally accepted accounting principles and general practice within the banking industry. A summary of significant accounting policies can be found in Footnote (1) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2011.

Basis of Presentation

The accompanying consolidated financial statements include the accounts of BancFirst Corporation, Council Oak Partners, LLC, BancFirst Insurance Services, Inc., and BancFirst and its subsidiaries. The principal operating subsidiaries of BancFirst are Council Oak Investment Corporation, Council Oak Real Estate, Inc., BancFirst Agency, Inc., and BancFirst Community Development Corporation. All significant intercompany accounts and transactions have been eliminated. Assets held in a fiduciary or agency capacity are not assets of the Company and, accordingly, are not included in the consolidated financial statements.

The accompanying consolidated financial statements and notes are presented in accordance with the instructions for Form 10-Q. The information contained in the financial statements and footnotes included in BancFirst Corporation’s Annual Report on Form 10-K for the year ended December 31, 2011, should be referred to in connection with these unaudited interim consolidated financial statements.

The unaudited interim consolidated financial statements contained herein reflect all adjustments which are, in the opinion of management, necessary to provide a fair statement of the financial position and results of operations of the Company for the interim periods presented. All such adjustments are of a normal and recurring nature. There have been no significant changes in the accounting policies of the Company since December 31, 2011, the date of the most recent annual report.

Use of Estimates in the Preparation of Financial Statements

The preparation of financial statements in conformity with accounting principles generally accepted in the United States inherently involves the use of estimates and assumptions that affect the amounts reported in the financial statements and the related disclosures. These estimates relate principally to the determination of the allowance for loan losses, income taxes, the fair value of financial instruments and the valuation of intangibles. Such estimates and assumptions may change over time and actual amounts realized may differ from those reported.

Reclassifications

Certain items in prior financial statements have been reclassified to conform to the current presentation. Such reclassifications had no effect on previously reported cash flows, stockholders’ equity or net income.

Recent Accounting Pronouncements

In December 2011, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2011-12, “Comprehensive Income (Topic 220)—Deferral of the Effective Date for Amendments to the Presentation of Reclassifications of Items Out of Accumulated Other Comprehensive Income in Accounting Standards Update No. 2011-05.” ASU 2011-12 defers changes in ASU 2011-05 that relate to the presentation of reclassification adjustments to allow the FASB time to re-deliberate whether to require presentation of such adjustments on the face of the financial statements to show the effects of reclassifications out of accumulated other comprehensive income on the components of net income and other comprehensive income. ASU 2011-12 allows entities to continue to report reclassifications out of accumulated other comprehensive income consistent with the presentation requirements in effect before ASU 2011-05. All other requirements in ASU 2011-05 are not affected by ASU 2011-12. ASU 2011-12 was effective for annual and interim periods beginning after December 15, 2011. Adoption of ASU 2011-12 did not have a significant effect on the Company’s financial statements.

In November 2011, the FASB issued ASU No. 2011-11, “Balance Sheet (Topic 210)—Disclosure about Offsetting Assets and Liabilities.” ASU 2011-11 is an amendment to require an entity to disclose both net and gross information about offsetting assets and liabilities to enable users of its financial statements to understand the effect of those arrangements. Arrangements include derivatives, sale and repurchase agreements and transactions, securities borrowing and securities lending arrangements. ASU 2011-11 is effective for annual and interim periods beginning on January 1, 2013 and is not expected to have a significant effect on the Company’s financial statements.

In September 2011, the FASB issued ASU No. 2011-08, “Intangibles (Topic 350) – Goodwill and Other.” ASU 2011-08 is an update to simplify how entities test for goodwill impairment. The amendments in the update permit the Company to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If these factors determined that the fair value exceeds the carrying amount then the Company is not required to calculate the fair value of the reporting unit. The Company opted to continue to perform quantitative tests for goodwill impairment and not to perform qualitative tests for goodwill impairment under ASU 2011-08 as of September 30, 2011. Adoption of ASU 2011-08 did not have a significant effect on the Company’s financial statements.

In June 2011, the FASB issued ASU No. 2011-05, “Comprehensive Income (Topic 220)—Presentation of Comprehensive Income.” ASU 2011-05 is an update to improve the comparability, consistency, and transparency of financial reporting, to increase the prominence of items reported in other comprehensive income, and to facilitate convergence of GAAP and IFRS. The Company adopted ASU 2011-05 as of September 30, 2011, and the standard was applied retrospectively. The adoption of ASU 2011-05 did not have a significant effect on the Company’s financial statements.

In May 2011, the FASB issued ASU No. 2011-04, “Fair Value Measurement (Topic 820)—Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. Generally Accepted Accounting Principles (“GAAP”) and International Financial Reporting Standards (“IFRS”).” ASU 2011-04 is an update to explain how to measure fair value. This amendment does not require additional fair value measurements and is not intended to establish valuation standards or affect valuation practices outside of financial reporting. This amendment was put forth in order to describe many of the requirements in GAAP for measuring fair value and for disclosing information about fair value measurements consistent with IFRS. ASU 2011-04 was effective for the Company on January 1, 2012, and was applied prospectively. Adoption of ASU 2011-04 did not have a significant effect on the Company’s financial statements.

In April 2011, the FASB issued ASU No. 2011-02, “Receivables (Topic 310)—A Creditor’s Determination of Whether a Restructuring is a Troubled Debt Restructuring.” ASU 2011-02 clarifies which loan modifications constitute troubled debt restructurings and is intended to assist creditors in determining whether a modification of the terms of a receivable meets the criteria to be considered a troubled debt restructuring, both for purposes of recording an impairment loss and for disclosure of troubled debt restructurings. In evaluating whether a restructuring constitutes a troubled debt restructuring, a creditor must separately conclude, under the guidance clarified by ASU 2011-02, that both of the following exist: (a) the restructuring constitutes a concession; and (b) the debtor is experiencing financial difficulties. ASU 2011-02 was effective for the Company on July 1, 2011, and was applied retrospectively to restructurings occurring on or after January 1, 2011. Adoption of ASU 2011-02 did not have a significant effect on the Company’s financial statements.

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Securities (Details) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011	Jun. 30, 2011
Securities Held For Investment And Securities Available For Sale
Held for investment, at cost (market value: $20,104)	$ 19,734
Available for sale, at market value	555,300
Total	$ 575,034	$ 614,977	$ 580,059

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Loans and Allowance for Loan Losses (Details 2) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011	Jun. 30, 2011
Summary of amounts included in nonaccrual loans segregated by class of loans
Nonaccrual loans, Total	$ 20,702	$ 21,187	$ 22,469
Non-residential real estate [Member]
Summary of amounts included in nonaccrual loans segregated by class of loans
Nonaccrual loans, Total	9,711		9,235
Residential real estate [Member]
Summary of amounts included in nonaccrual loans segregated by class of loans
Nonaccrual loans, Total	4,098		5,860
Non-consumer non-real estate [Member]
Summary of amounts included in nonaccrual loans segregated by class of loans
Nonaccrual loans, Total	1,142		1,547
Consumer non-real estate [Member]
Summary of amounts included in nonaccrual loans segregated by class of loans
Nonaccrual loans, Total	140		178
Other loans [Member]
Summary of amounts included in nonaccrual loans segregated by class of loans
Nonaccrual loans, Total	1,918		4,285
Acquired loans [Member]
Summary of amounts included in nonaccrual loans segregated by class of loans
Nonaccrual loans, Total	$ 3,693		$ 1,364

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Stock-Based Compensation (Details 4) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012
Remaining fair value of stock options
Fair value of stock options	$ 5,675

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Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011	Jun. 30, 2011
ASSETS
Cash and due from banks	$ 146,387	$ 163,698	$ 153,997
Interest-bearing deposits with banks	1,617,521	1,544,035	1,417,102
Federal funds sold		400	100
Securities (market value: $575,404, $615,458, and $580,630, respectively)	575,034	614,977	580,059
Loans:
Total loans (net of unearned interest)	3,065,439	3,013,498	2,861,844
Allowance for loan losses	(37,436)	(37,656)	(37,092)
Loans, net	3,028,003	2,975,842	2,824,752
Premises and equipment, net	113,836	111,355	102,801
Other real estate owned	10,088	16,109	14,991
Intangible assets, net	13,158	14,219	10,857
Goodwill	44,545	44,545	44,593
Accrued interest receivable	17,532	18,662	19,863
Other assets	105,607	104,983	98,330
Total assets	5,671,711	5,608,825	5,267,445
LIABILITIES AND STOCKHOLDERS' EQUITY
Noninterest-bearing	1,842,680	1,704,996	1,509,433
Interest-bearing	3,256,968	3,332,739	3,192,566
Total deposits	5,099,648	5,037,735	4,701,999
Short-term borrowings	6,340	8,274	1,400
Accrued interest payable	2,260	2,710	3,107
Long-term borrowings	11,329	18,476	32,121
Other liabilities	25,769	22,506	29,555
Junior subordinated debentures	26,804	36,083	28,866
Total liabilities	5,172,150	5,125,784	4,797,048
Commitments and contingent liabilities
Stockholders' equity:
Common stock, $1.00 par, 20,000,000 shares authorized; shares issued and outstanding: 15,153,991, 15,117,430 and 15,273,181, respectively	15,154	15,118	15,273
Capital surplus	79,181	77,462	74,229
Retained earnings	398,267	381,017	371,150
Accumulated other comprehensive income, net of income tax of $3,746, $5,084 and $5,217, respectively	6,959	9,444	9,745
Total stockholders' equity	499,561	483,041	470,397
Total liabilities and stockholders' equity	5,671,711	5,608,825	5,267,445
Senior preferred stock
Stockholders' equity:
Preferred stock, value
Cumulative preferred stock
Stockholders' equity:
Preferred stock, value

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Loans and Allowance for Loan Losses (Details 7) (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Transfers from loans to other real estate owned and repossessed assets
Other real estate owned	$ 1,284	$ 3,145
Repossessed assets	295	913
Total	$ 1,579	$ 4,058

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Consolidated Statements of Stockholders' Equity (Unaudited) (USD $) In Thousands	Total	COMMON STOCK	CAPITAL SURPLUS	RETAINED EARNINGS	ACCUMULATED OTHER COMPREHENSIVE INCOME
Balance at beginning of period at Dec. 31, 2010		$ 15,369	$ 73,040	$ 361,680	$ 8,505
Common stock issued		21	474
Shares acquired and canceled		(117)		(4,306)
Tax effect of stock options			69
Stock-based compensation arrangements			646
Net income	21,470			21,470
Dividends on common stock				(7,694)
Net change	1,240				1,240
Balance at end of period at Jun. 30, 2011	470,397	15,273	74,229	371,150	9,745
Balance at beginning of period at Mar. 31, 2011		15,390	73,935	369,189	8,313
Shares acquired and canceled		(117)		(4,306)
Tax effect of stock options			23
Stock-based compensation arrangements			271
Net income	10,115			10,115
Dividends on common stock				(3,848)
Net change	1,432				1,432
Balance at end of period at Jun. 30, 2011	470,397	15,273	74,229	371,150	9,745
Balance at beginning of period at Dec. 31, 2011	483,041	15,118	77,462	381,017	9,444
Common stock issued		43	722
Shares acquired and canceled		(7)		(249)
Tax effect of stock options			199
Stock-based compensation arrangements			798
Net income	25,734			25,734
Dividends on common stock				(8,235)
Net change	(2,485)				(2,485)
Balance at end of period at Jun. 30, 2012	499,561	15,154	79,181	398,267	6,959
Balance at beginning of period at Mar. 31, 2012		15,145	78,420	390,881	7,511
Common stock issued		16	267
Shares acquired and canceled		(7)		(249)
Tax effect of stock options			137
Stock-based compensation arrangements			357
Net income	11,729			11,729
Dividends on common stock				(4,094)
Net change	(552)				(552)
Balance at end of period at Jun. 30, 2012	$ 499,561	$ 15,154	$ 79,181	$ 398,267	$ 6,959

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Net Income Per Common Share (Details) (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Basic and diluted net income per common share
Income available to common stockholders - Income	$ 11,729	$ 10,115	$ 25,734	$ 21,470
Income available to common stockholders - Shares	15,155,525	15,364,738	15,145,066	15,362,764
Income available to common stockholders - Per Share Amount	$ 0.77	$ 0.66	$ 1.70	$ 1.40
Effect of stock options - Shares	271,271	287,215	276,608	295,723
Income available to common stockholders plus assumed exercises of stock options - Income	$ 11,729	$ 10,115	$ 25,734	$ 21,470
Income available to common stockholders plus assumed exercises of stock options - Shares	15,426,796	15,651,953	15,421,674	15,658,487
Income available to common stockholders plus assumed exercises of stock options - Per Share Amount	$ 0.76	$ 0.65	$ 1.67	$ 1.37

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Securities (Details 3) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011	Jun. 30, 2011
Contractual maturity of debt securities
Total	$ 575,034	$ 614,977	$ 580,059
Held for Investment [Member] | Estimated Market Value [Member]
Contractual maturity of debt securities
Within one year	1,602
After one year but within five years	14,909
After five years but within ten years	2,889
After ten years	704
Total	20,104
Held for Investment [Member] | Amortized Cost [Member]
Contractual maturity of debt securities
Within one year	1,583
After one year but within five years	14,679
After five years but within ten years	2,830
After ten years	642
Total	19,734
Available for Sale [Member] | Estimated Market Value [Member]
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis, Fiscal Year Maturity [Abstract]
Within one year	86,441
After one year but within five years	326,413
After five years but within ten years	49,031
After ten years	82,928
Total debt securities	544,813
Equity securities	10,487
Total	555,300
Available for Sale [Member] | Amortized Cost [Member]
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis, Fiscal Year Maturity [Abstract]
Within one year	85,373
After one year but within five years	323,771
After five years but within ten years	46,982
After ten years	80,458
Total debt securities	536,584
Equity securities	8,011
Total	$ 544,595

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Derivative Financial Instruments (Details) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012
Other Assets [Member]
Notional amounts and estimated fair values of outstanding derivative positions
Derivative assets, Estimated Fair Value	$ 7,652
Other Liabilities [Member]
Notional amounts and estimated fair values of outstanding derivative positions
Derivative liabilities, Estimated Fair Value	5,648
Oil [Member]
Notional amounts and estimated fair values of outstanding derivative positions
Notional Units	Barrels
Derivative assets, Notional Amount	633
Derivative liabilities, Notional Amount	(633)
Derivative assets, Estimated Fair Value	5,062
Derivative liabilities, Estimated Fair Value	(3,838)
Natural Gas [Member]
Notional amounts and estimated fair values of outstanding derivative positions
Notional Units	MMBTUs
Derivative assets, Notional Amount	4,627
Derivative liabilities, Notional Amount	(4,627)
Derivative assets, Estimated Fair Value	2,590
Derivative liabilities, Estimated Fair Value	$ (1,810)

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Loans and Allowance for Loan Losses (Tables)

6 Months Ended

Jun. 30, 2012

Receivables [Abstract]

Schedule of loans outstanding by category

	June 30, 2012					December 31, 2011					June 30, 2011
	Amount		Percent			Amount		Percent			Amount		Percent
	(Dollars in thousands)
Commercial and industrial	$	515,456		16.82	%	$	547,942		18.19	%	$	551,293		19.26	%
Oil & gas production & equipment		125,228		4.08			115,786		3.84			113,868		3.98
Agriculture		77,882		2.54			86,297		2.86			74,221		2.59
State and political subdivisions:
Taxable		6,520		0.21			6,939		0.23			7,281		0.25
Tax-exempt		13,853		0.45			17,070		0.57			11,920		0.42
Real estate:
Construction		197,168		6.43			207,953		6.90			236,660		8.27
Farmland		111,472		3.64			103,923		3.45			86,285		3.02
One to four family residences		674,577		22.01			655,134		21.74			618,428		21.61
Multifamily residential properties		46,866		1.53			37,734		1.25			34,040		1.19
Commercial		1,036,322		33.81			960,074		31.86			846,684		29.59
Consumer		239,156		7.80			252,331		8.37			255,975		8.94
Other (not classified above)		20,939		0.68			22,315		0.74			25,189		0.88
Total loans	$	3,065,439		100.00	%	$	3,013,498		100.00	%	$	2,861,844		100.00	%
Loans held for sale (included above)	$	16,612				$	12,126				$	11,258

Summary of nonperforming and restructured assets

	June 30,			December 31,			June 30,
	2012			2011			2011
	(Dollars in thousands)
Past due 90 days or more and still accruing	$	1,403		$	798		$	1,166
Nonaccrual		20,702			21,187			22,469
Restructured		18,089			1,041			344
Total nonperforming and restructured loans		40,194			23,026			23,979
Other real estate owned and repossessed assets		10,223			16,640			15,501
Total nonperforming and restructured assets	$	50,417		$	39,666		$	39,480
Nonperforming and restructured loans to total loans		1.31	%		0.76	%		0.84	%
Nonperforming and restructured assets to total assets		0.89	%		0.71	%		0.75	%

Summary of amounts included in nonaccrual loans segregated by class of loans

	June 30, 2012		June 30, 2011
	(Dollars in thousands)
Non-residential real estate	$	9,711	$	9,235
Residential real estate		4,098		5,860
Non-consumer non-real estate		1,142		1,547
Consumer non-real estate		140		178
Other loans		1,918		4,285
Acquired loans		3,693		1,364
Total	$	20,702	$	22,469

Age analysis of past due loans segregated by class of loans

	Age Analysis of Past Due Receivables
	30-89 Days Past Due		90 Days and Greater		Total Past Due Loans		Current Loans		Total Loans		Accruing Loans 90 Days or More Past Due
	(Dollars in thousands)
As of June 30, 2012
Non-residential real estate	$	2,649	$	2,454	$	5,103	$	1,135,948	$	1,141,051	$	285
Residential real estate		4,240		1,288		5,528		715,621		721,149		478
Non-consumer non-real estate		1,285		244		1,529		695,887		697,416		16
Consumer non-real estate		2,002		183		2,185		198,242		200,427		122
Other loans		1,213		1,654		2,867		153,117		155,984		102
Acquired loans		3,134		1,352		4,486		144,926		149,412		400
Total	$	14,523	$	7,175	$	21,698	$	3,043,741	$	3,065,439	$	1,403
As of June 30, 2011
Non-residential real estate	$	1,720	$	573	$	2,293	$	978,409	$	980,702	$	1
Residential real estate		2,617		2,208		4,825		684,344		689,169		927
Non-consumer non-real estate		1,474		324		1,798		710,640		712,438		6
Consumer non-real estate		1,822		173		1,995		196,583		198,578		116
Other loans		3,489		3,766		7,255		152,982		160,237		89
Acquired loans		908		920		1,828		118,892		120,720		27
Total	$	12,030	$	7,964	$	19,994	$	2,841,850	$	2,861,844	$	1,166

Impaired loans, segregated by class of loans

	Impaired Loans
	Unpaid Principal Balance		Recorded Investment with Allowance		Related Allowance		Average Recorded Investment
	(Dollars in thousands)
As of June 30, 2012
Non-residential real estate	$	28,184	$	27,165	$	2,122	$	27,397
Residential real estate		5,839		5,384		1,468		5,547
Non-consumer non-real estate		1,792		1,163		302		1,512
Consumer non-real estate		349		325		59		389
Other loans		2,255		2,020		212		2,158
Acquired loans		13,648		11,522		291		13,263
Total	$	52,067	$	47,579	$	4,454	$	50,266
As of June 30, 2011
Non-residential real estate	$	9,723	$	9,235	$	978	$	10,223
Residential real estate		6,466		5,860		1,520		6,511
Non-consumer non-real estate		1,873		1,547		358		1,806
Consumer non-real estate		211		178		47		212
Other loans		4,418		4,285		193		4,312
Acquired loans		1,529		1,364		92		1,339
Total	$	24,220	$	22,469	$	3,188	$	24,403

Internal loan grading by class of loans

	Internal Loan Grading
	Grade
	1		2		3		4		5		Total
	(Dollars in thousands)
As of June 30, 2012
Non-residential real estate	$	983,946	$	118,825	$	28,514	$	9,766	$	—	$	1,141,051
Residential real estate		619,115		81,324		15,920		4,790		—		721,149
Non-consumer non-real estate		610,214		78,825		7,211		1,166		—		697,416
Consumer non-real estate		187,768		10,204		2,122		333		—		200,427
Other loans		151,330		2,917		1,027		710		—		155,984
Acquired loans		110,506		27,002		7,898		4,006		—		149,412
Total	$	2,662,879	$	319,097	$	62,692	$	20,771	$	—	$	3,065,439
As of June 30, 2011
Non-residential real estate	$	834,857	$	103,359	$	33,446	$	9,040	$	—	$	980,702
Residential real estate		601,469		68,651		12,970		6,079		—		689,169
Non-consumer non-real estate		638,872		61,481		10,710		1,375		—		712,438
Consumer non-real estate		189,220		6,891		2,172		295		—		198,578
Other loans		153,104		2,463		2,050		2,620		—		160,237
Acquired loans		84,482		26,475		8,398		1,267		98		120,720
Total	$	2,502,004	$	269,320	$	69,746	$	20,676	$	98	$	2,861,844

Activity in ALLL by class of loans

ALLL
	Non-Residential Real Estate			Residential Real Estate			Non- Consumer Non-Real Estate			Consumer Non-Real Estate			Other Loans			Acquired Loans			Total
	(Dollars in thousands)
Three Months Ended June 30, 2012
Allowance for credit losses:
Balance at March 31, 2012	$	14,109		$	9,762		$	9,198		$	2,283		$	1,850		$	431		$	37,633
Charge-offs		(7	)		(95	)		(313	)		(77	)		(27	)		(12	)		(531	)
Recoveries		(6	)		13			26			32			12			9			86
Net charge-offs		(13	)		(82	)		(287	)		(45	)		(15	)		(3	)		(445	)
Provisions charged to operations		253			326			(353	)		44			19			(41	)		248
Balance at June 30, 2012	$	14,349		$	10,006		$	8,558		$	2,282		$	1,854		$	387		$	37,436
Six Months Ended June 30, 2012
Allowance for credit losses:
Balance at December 31, 2011	$	13,948		$	9,764		$	9,156		$	2,315		$	1,886		$	587		$	37,656
Charge-offs		(128	)		(131	)		(330	)		(191	)		(207	)		(76	)		(1,063	)
Recoveries		31			109			124			116			31			11			422
Net charge-offs		(97	)		(22	)		(206	)		(75	)		(176	)		(65	)		(641	)
Provisions charged to operations		498			264			(392	)		42			144			(135	)		421
Balance at June 30, 2012	$	14,349		$	10,006		$	8,558		$	2,282		$	1,854		$	387		$	37,436
Ending balances:
Individually evaluated for impairment	$	2,986		$	2,760		$	1,436		$	302		$	196		$	—		$	7,680
Collectively evaluated for impairment		11,363			7,246			7,122			1,980			1,658			387			29,756
Balance at June 30, 2012	$	14,349		$	10,006		$	8,558		$	2,282		$	1,854		$	387		$	37,436
Loans-Ending balances:
Individually evaluated for impairment	$	38,278		$	20,710		$	8,377		$	2,455		$	109		$	—		$	69,929
Collectively evaluated for impairment		1,102,773			700,439			689,039			197,972			155,875			137,508			2,983,606
Loans acquired with deteriorated credit quality		—			—			—			—			—			11,904			11,904
Balance at June 30, 2012	$	1,141,051		$	721,149		$	697,416		$	200,427		$	155,984		$	149,412		$	3,065,439

ALLL
	Non-Residential Real Estate			Residential Real Estate			Non- Consumer Non-Real Estate			Consumer Non-Real Estate			Other Loans			Acquired Loans			Total
	(Dollars in thousands)
Three Months Ended June 30, 2011
Allowance for credit losses:
Balance at March 31, 2011	$	12,979		$	9,612		$	9,165		$	2,258		$	1,699		$	423		$	36,136
Charge-offs		(136	)		(312	)		(179	)		(223	)		(22	)		(302	)		(1,174	)
Recoveries		7			39			29			36			5			1			117
Net charge-offs		(129	)		(273	)		(150	)		(187	)		(17	)		(301	)		(1,057	)
Provisions charged to operations		801			41			319			166			30			656			2,013
Balance at June 30, 2011	$	13,651		$	9,380		$	9,334		$	2,237		$	1,712		$	778		$	37,092
Six Months Ended June 30, 2011
Allowance for credit losses:
Balance at December 31, 2010	$	13,142		$	8,957		$	9,587		$	2,301		$	1 ,758		$	—		$	35,745
Charge-offs		(269	)		(501	)		(184	)		(328	)		(122	)		(331	)		(1,735	)
Recoveries		16			95			84			68			7			11			281
Net charge-offs		(253	)		(406	)		(100	)		(260	)		(115	)		(320	)		(1,454	)
Provisions charged to operations		762			829			(153	)		196			69			1,098			2,801
Balance at June 30, 2011	$	13,651		$	9,380		$	9,334		$	2,237		$	1,712		$	778		$	37,092
Ending balances:
Individually evaluated for impairment	$	3,694		$	2,314		$	2,021		$	297		$	285		$	—		$	8,611
Collectively evaluated for impairment		9,957			7,066			7,313			1,940			1,427			778			28,481
Balance at June 30, 2011	$	13,651		$	9,380		$	9,334		$	2,237		$	1,712		$	778		$	37,092
Loans-Ending balances:
Individually evaluated for impairment	$	42,486		$	19,049		$	12,085		$	2,467		$	413		$	—		$	76,500
Collectively evaluated for impairment		938,216			670,120			700,353			196,111			159,824			110,957			2,775,581
Loans acquired with deteriorated credit quality		—			—			—			—			—			9,763			9,763
Balance at June 30, 2011	$	980,702		$	689,169		$	712,438		$	198,578		$	160,237		$	120,720		$	2,861,844

Transfers from loans to other real estate owned and repossessed assets

	Six Months Ended June 30,
	2012		2011
	(Dollars in thousands)
Other real estate owned	$	1,284	$	3,145
Repossessed assets		295		913
Total	$	1,579	$	4,058

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Securities (Details4) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012
Company's book value of pledged securities
Book value of pledged securities	$ 484,329

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Junior Subordinated Debentures (Tables)

6 Months Ended

Jun. 30, 2012

Junior Subordinated Debentures [Abstract]

Summary of the Junior Subordinated Debentures

	June 30, 2012		December 31, 2011
Issue	Amount		Amount		Rate	Maturity
	(Dollars in thousands)
BFC II	$	26,804	$	26,804	7.20%		03/31/2034
UNST I		—		2,062	3 month LIBOR + 1.65%		03/15/2036
FBCST I		—		7,217	3 month LIBOR + 2.85%		12/17/2033
Total	$	26,804	$	36,083

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Derivative Financial Instruments (Details Textual) (USD $) In Millions, unless otherwise specified	6 Months Ended
	Jun. 30, 2012
Derivative Financial Instruments (Textual) [Abstract]
Guaranty obligations	$ 30
Guaranty obligations, term in years	five

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Condensed Consolidated Statements of Cash Flow (Unaudited) (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 25,734	$ 21,470
Adjustments to reconcile to net cash provided by operating activities:
Provision for loan losses	421	2,801
Depreciation and amortization	5,271	4,547
Net amortization of securities premiums and discounts	782	2,558
Realized securities gains	(4,258)	(1,324)
Gain on sales of loans	(1,338)	(872)
Cash receipts from the sale of loans originated for sale	103,117	75,562
Cash disbursements for loans originated for sale	(106,365)	(74,175)
Deferred income tax benefit	(132)	(1,309)
Gains on other assets	(288)	(1,058)
Decrease in interest receivable	1,130	2,051
Decrease in interest payable	(450)	(128)
Amortization of stock based compensation arrangements	798	646
Other, net	5,085	4,076
Net cash provided by operating activities	29,507	34,845
INVESTING ACTIVITIES
Net decrease in federal funds sold	400	41,107
Purchases of securities:
Held for investment	(2,525)	(6,400)
Available for sale	(41,330)	(32,183)
Maturities of securities:
Held for investment	2,831	2,755
Available for sale	70,033	134,557
Proceeds from sales and calls of securities:
Held for investment	2,417	2
Available for sale	8,129	65,478
Purchases of loans	(17,255)	(26,847)
Proceeds from sales of loans	16,872	3,226
Net other increase in loans	(49,192)	(32,286)
Purchases of premises, equipment and computer software	(7,015)	(8,135)
Proceeds from the sale of other assets	7,213	12,196
Net cash (used in) provided by investing activities	(9,422)	153,470
FINANCING ACTIVITIES
Net increase in demand, transaction and savings deposits	112,565	215,139
Net decrease in time deposits	(50,652)	(16,894)
Net decrease in short-term borrowings	(1,934)	(5,850)
Paydown of long-term borrowings	(7,147)	(2,144)
Redemption of junior subordinated debentures	(9,279)
Issuance of common stock	964	564
Common stock acquired	(256)	(4,423)
Cash dividends paid	(8,171)	(7,687)
Net cash provided by financing activities	36,090	178,705
Net increase in cash, due from banks and interest bearing deposits	56,175	367,020
Cash, due from banks and interest bearing deposits at the beginning of the period	1,707,733	1,204,079
Cash, due from banks and interest bearing deposits at the end of the period	1,763,908	1,571,099
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid during the period for interest	9,946	13,917
Cash paid during the period for income taxes	$ 13,775	$ 14,000

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Consolidated Balance Sheets (Parenthetical) (USD $) In Thousands, except Share data, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011	Jun. 30, 2011
Securities, market value	$ 575,404	$ 615,458	$ 580,630
Common stock, par value	$ 1.00	$ 1.00	$ 1.00
Common stock, shares authorized	20,000,000	20,000,000	20,000,000
Common stock, shares issued	15,153,991	15,117,430	15,273,181
Common stock, shares outstanding	15,153,991	15,117,430	15,273,181
Accumulated other comprehensive income, tax	$ 3,746	$ 5,084	$ 5,217
Senior preferred stock
Preferred stock, par value	$ 1.00	$ 1.00	$ 1.00
Preferred stock, shares authorized	10,000,000	10,000,000	10,000,000
Preferred stock, shares issued	0	0	0
Cumulative preferred stock
Preferred stock, par value	$ 5.00	$ 5.00	$ 5.00
Preferred stock, shares authorized	900,000	900,000	900,000
Preferred stock, shares issued	0	0	0

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Fair Value Measurements

6 Months Ended

Jun. 30, 2012

Fair Value Measurements [Abstract]

FAIR VALUE MEASUREMENTS

(10) FAIR VALUE MEASUREMENTS

Accounting standards define fair value as the price that would be received to sell an asset or the price paid to transfer a liability in the principal or most advantageous market available to the entity in an orderly transaction between market participants on the measurement date.

FASB ASC Topic 820 establishes a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows:

—  Level 1 Inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.

—  Level 2 Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset and liability, either directly or indirectly, for substantially the full term of the financial instrument.

—  Level 3 Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose values are determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. This category includes certain impaired loans, foreclosed assets, other real estate, goodwill and other intangible assets.

Financial Assets and Financial Liabilities Measured at Fair Value on a Recurring Basis

A description of the valuation methodologies and key inputs used to measure financial assets and financial liabilities at fair value on a recurring basis, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below. These valuation methodologies were applied to the following categories of the Company’s financial assets and financial liabilities.

Securities Available for Sale

Securities classified as available for sale are reported at fair value. U.S. Treasuries are valued using Level 1 inputs. Other securities available for sale including U.S. Federal agencies, mortgage backed securities, and states and political subdivisions are valued using prices from an independent pricing service utilizing Level 2 data. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the bond’s terms and conditions, among other things. The Company also invests in equity securities classified as available for sale for which observable information is not readily available. These securities are reported at fair value utilizing Level 3 inputs. For these securities, management determines the fair value based on replacement cost, the income approach or information provided by outside consultants or lead investors.

The Company reviews the prices for Level 1 and Level 2 securities supplied by the independent pricing service for reasonableness and to ensure such prices are aligned with traditional pricing matrices. In general, the Company does not purchase investment portfolio securities that are esoteric or that have complicated structures. The Company’s entire portfolio consists of traditional investments including U.S. Treasury obligations, Federal agency mortgage pass-through securities, general obligation municipal bonds and a small amount of municipal revenue bonds. Pricing for such instruments is fairly generic and is easily obtained. For in-state bond issues that have relatively low issue sizes and liquidity, the Company utilizes the same parameters adjusted for the specific issue. From time to time, the Company will validate, on a sample basis, prices supplied by the independent pricing service by comparison to prices obtained from third party sources.

Derivatives

Derivatives are reported at fair value utilizing Level 2 inputs. The Company obtains dealer and market quotations to value its oil and gas swaps and options. The Company utilizes dealer quotes and observable market data inputs to substantiate internal valuation models.

Loans Held For Sale

The Company originates mortgage loans to be sold. At the time of origination, the acquiring bank has already been determined and the terms of the loan, including interest rate, have already been set by the acquiring bank, allowing the Company to originate the loan at fair value. Mortgage loans are generally sold within 30 days of origination. Loans held for sale are valued using Level 2 inputs. Gains or losses recognized upon the sale of the loans are determined on a specific identification basis.

Mortgage Servicing Intangibles

The Company acquired these Mortgage Servicing Intangibles with the acquisition of 1 ^st Bank Oklahoma on July 12, 2011. The Company estimates the fair value of the Mortgage Servicing Intangibles with its carrying amount, based on the present value of future cash flows over several interest rate scenarios, which are then discounted at risk-adjusted rates. The Company considers portfolio characteristics, contractually specified servicing fees, prepayment assumptions, delinquency rates, late charges, other ancillary revenue, costs to service and other economic factors. When available, fair value estimates and assumptions are compared to observable market data and the recent market activity and actual portfolio experience.

The following table summarizes financial assets and financial liabilities measured at fair value on a recurring basis as of June 30, 2012 and 2011, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value:

	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total Fair Value
	(Dollars in thousands)
June 30, 2012
Securities available for sale	$	—	$	544,813	$	10,487	$	555,300
Derivative assets		—		7,652		—		7,652
Derivative liabilities		—		5,648		—		5,648
Loans held for sale		—		16,612		—		16,612
Mortgage servicing intangibles		—		—		915		915
June 30, 2011
Securities available for sale	$	35,096	$	506,811	$	12,498	$	554,405
Derivative assets		—		6,663		—		6,663
Derivative liabilities		—		5,136		—		5,136
Loans held for sale		—		11,258		—		11,258
Mortgage servicing intangibles		—		—		—		—

The changes in Level 3 assets measured at estimated fair value on a recurring basis during the six months ended June 30, 2012 and 2011 were as follows:

	Six Months Ended June 30,
	2012			2011
	(Dollars in thousands)
Balance at the beginning of the year	$	13,225		$	10,837
Purchases, issuances and settlements		1,770			—
Sales		(534	)		(189	)
(Losses) gains included in earnings		(596	)		20
Total unrealized (losses) gains		(2,463	)		1,830
Balance at the end of the period	$	11,402		$	12,498

The Company’s policy is to recognize transfers in and transfers out of Levels 1, 2 and 3 as of the end of the reporting period. During the six months ended June 30, 2012 and 2011, the Company did not transfer any securities between levels in the fair value hierarchy.

Financial Assets and Financial Liabilities Measured at Fair Value on a Nonrecurring Basis

Certain financial assets and financial liabilities are measured at fair value on a nonrecurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment). These financial assets and financial liabilities are reported at fair value utilizing Level 3 inputs.

Impaired loans are reported at the fair value of the underlying collateral if repayment is dependent on liquidation of the collateral. The impaired loans are adjusted to fair value through a specific allocation of the allowance for loan losses.

Foreclosed assets, upon initial recognition, are measured and adjusted to fair value through a charge-off to the allowance for possible loan losses based upon the fair value of the foreclosed asset.

Other real estate owned is revalued at fair value subsequent to initial recognition, with any losses recognized in net expense from other real estate owned.

The following table summarizes assets measured at fair value on a nonrecurring basis and the related gains or losses recognized during the period:

	Level 1		Level 2		Level 3		Total Fair Value		Gains (Losses)
	(Dollars in thousands)
Six Months Ended June 30, 2012
Impaired loans		—		—	$	43,125	$	43,125	$	—
Foreclosed assets		—		—	$	135	$	135	$	(86	)
Other real estate owned		—		—	$	10,088	$	10,088	$	(1,067	)
Six Months Ended June 30, 2011
Impaired loans		—		—	$	19,281	$	19,281	$	—
Foreclosed assets		—		—	$	510	$	510	$	1
Other real estate owned		—		—	$	14,991	$	14,991	$	291

Estimated Fair Value of Financial Instruments

The Company is required under current authoritative accounting guidance to disclose the estimated fair value of their financial instruments that are not recorded at fair value. For the Company, as for most financial institutions, substantially all of its assets and liabilities are considered financial instruments. A financial instrument is defined as cash, evidence of an ownership interest in an entity or a contract that creates a contractual obligation or right to deliver or receive cash or another financial instrument from a second entity. The following methods and assumptions were used to estimate the fair value of each class of financial instruments:

Cash and Cash Equivalents Include: Cash and Due from Banks; Federal Funds Sold and Interest-Bearing Deposits

The carrying amount of these short-term instruments is a reasonable estimate of fair value.

Securities Held for Investment

For securities held for investment, which are generally traded in secondary markets, fair values are based on quoted market prices or dealer quotes, if available. If a quoted market price is not available, fair value is estimated using quoted market prices for similar securities making adjustments for credit or liquidity if applicable.

Loans

For certain homogeneous categories of loans, such as some residential mortgages, fair values are estimated using the quoted market prices for securities backed by similar loans, adjusted for differences in loan characteristics. The fair values of other types of loans are estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities.

Deposits

The fair values of transaction and savings accounts are the amounts payable on demand at the reporting date. The fair values of fixed-maturity certificates of deposit are estimated using the rates currently offered for deposits of similar remaining maturities.

Short-term Borrowings

The amounts payable on these short-term instruments are reasonable estimates of fair value.

Long-term Borrowings

The fair values of fixed-rate long-term borrowings are estimated using the rates that would be charged for borrowings of similar remaining maturities.

Junior Subordinated Debentures

The fair values of junior subordinated debentures are estimated using the rates that would be charged for junior subordinated debentures of similar remaining maturities.

Loan Commitments and Letters of Credit

The fair values of commitments are estimated using the fees currently charged to enter into similar agreements, taking into account the terms of the agreements. The fair values of letters of credit are based on fees currently charged for similar agreements.

The estimated fair values of the Company’s financial instruments are as follows:

	June 30,
	2012					2011
	Carrying Amount			Fair Value		Carrying Amount			Fair Value
	(Dollars in thousands)
FINANCIAL ASSETS
Cash and cash equivalents	$	1,763,908		$	1,763,908	$	1,571,199		$	1,571,199
Securities held for investment		19,734			20,104		25,654			26,225
Loans:
Loans (net of unearned interest)		3,065,439					2,861,844
Allowance for loan losses		(37,436	)				(37,092	)
Loans, net		3,028,003			3,092,725		2,824,752			2,843,098
FINANCIAL LIABILITIES
Deposits		5,099,648			5,121,335		4,701,999			4,732,880
Short-term borrowings		6,340			6,340		1,400			1,400
Long-term borrowings		11,329			11,431		32,121			32,620
Junior subordinated debentures		26,804			28,970		28,866			31,997
OFF-BALANCE SHEET FINANCIAL INSTRUMENTS
Loan commitments					1,321					1,058
Letters of credit					428					441

Non-financial Assets and Non-financial Liabilities Measured at Fair Value

The Company has no non-financial assets or non-financial liabilities measured at fair value on a recurring basis. Certain non-financial assets and non-financial liabilities measured at fair value on a nonrecurring basis include intangible assets and other non-financial long-lived assets measured at fair value and adjusted for impairment. These items are evaluated at least annually for impairment. The overall levels of non-financial assets and non-financial liabilities were not considered to be significant to the Company at June 30, 2012 or 2011.

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Document and Entity Information	6 Months Ended
	Jun. 30, 2012	Jul. 31, 2012
Document and Entity Information [Abstract]
Entity Registrant Name	BANCFIRST CORP /OK/
Entity Central Index Key	0000760498
Document Type	10-Q
Document Period End Date	Jun. 30, 2012
Amendment Flag	false
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		15,161,446

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Derivative Financial Instruments

6 Months Ended

Jun. 30, 2012

Derivative Financial Instruments [Abstract]

DERIVATIVE FINANCIAL INSTRUMENTS

(11) DERIVATIVE FINANCIAL INSTRUMENTS

The Company enters into oil and gas swaps and options contracts to accommodate the business needs of its customers. Upon the origination of an oil or gas swap or option contract with a customer, the Company simultaneously enters into an offsetting contract with a counterparty to mitigate the exposure to fluctuations in oil and gas prices. These derivatives are not designated as hedged instruments and are recorded on the Company’s consolidated balance sheet at fair value.

The Company utilizes dealer quotations and observable market data inputs to substantiate internal valuation models. The notional amounts and estimated fair values of oil and gas derivative positions outstanding are presented in the following table:

	June 30, 2012
Oil and Natural Gas Swaps and Options	Notional Units	Notional Amount			Estimated Fair  Value
	(Notional amounts and dollars in thousands)
Oil
Derivative assets	Barrels		633		$	5,062
Derivative liabilities	Barrels		(633	)		(3,838	)
Natural Gas
Derivative assets	MMBTUs		4,627			2,590
Derivative liabilities	MMBTUs		(4,627	)		(1,810	)
Total Fair Value	Included in
Derivative assets	Other assets					7,652
Derivative liabilities	Other liabilities					5,648

The following table is a summary of the Company’s recognized income related to the activity, which was included in other noninterest income:

	Three Months Ended June  30,				Six Months Ended June  30,
	2012		2011		2012		2011
	(Dollars in thousands)
Derivative income	$	141	$	74	$	350	$	198

The Company’s credit exposure on oil and gas swaps and options varies based on the current market prices of oil and natural gas. Other than credit risk, changes in the fair value of customer positions will be offset by equal and opposite changes in the counterparty positions. The net positive fair value of the contracts is the profit derived from the activity and is unaffected by market price movements.

Customer credit exposure is managed by strict position limits and is primarily offset by first liens on production while the remainder is offset by cash. Counterparty credit exposure is managed by selecting highly rated counterparties (rated A- or better by Standard and Poor’s) and monitoring market information.

The following table is a summary of the Company’s net credit exposure relating to oil and gas swaps and options with bank counterparties:

	June 30, 2012
	(Dollars in thousands)
Credit exposure	$	7,201

The Company entered into a $30 million five year guaranty with a counterparty on June 4, 2008 for the timely payment of the obligations of its subsidiary Bank related to the settlement of oil and gas positions.

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Consolidated Statements of Comprehensive Income (Unaudited) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
INTEREST INCOME
Loans, including fees	$ 41,857	$ 40,256	$ 83,817	$ 79,513
Securities:
Taxable	2,087	3,011	4,494	6,637
Tax-exempt	411	602	835	1,232
Federal funds sold		20	1	41
Interest-bearing deposits with banks	1,061	886	2,034	1,661
Total interest income	45,416	44,775	91,181	89,084
INTEREST EXPENSE
Deposits	3,883	5,986	8,132	12,231
Short-term borrowings	8	3	16	7
Long-term borrowings	91	255	196	501
Junior subordinated debentures	565	525	1,151	1,050
Total interest expense	4,547	6,769	9,495	13,789
Net interest income	40,869	38,006	81,686	75,295
Provision for loan losses	248	2,013	421	2,801
Net interest income after provision for loan losses	40,621	35,993	81,265	72,494
NONINTEREST INCOME
Trust revenue	1,823	1,631	3,530	3,218
Service charges on deposits	11,031	10,449	21,638	20,201
Securities transactions	226	1,316	4,258	1,324
Income from sales of loans	766	420	1,338	872
Insurance commissions	2,803	2,471	5,796	4,893
Cash management	2,041	1,927	3,980	3,692
Loss on sale of other assets	323	(5)	343	4
Other	1,351	1,470	2,918	3,205
Total noninterest income	20,364	19,679	43,801	37,409
NONINTEREST EXPENSE
Salaries and employee benefits	24,830	22,557	49,630	44,369
Occupancy and fixed assets expense, net	2,477	2,411	4,923	4,862
Depreciation	2,226	1,889	4,357	3,793
Amortization of intangible assets	457	377	914	754
Data processing services	1,158	1,168	2,441	2,418
Net expense from other real estate owned	922	775	1,169	(131)
Marketing and business promotion	1,679	1,653	3,334	3,191
Deposit insurance	724	764	1,443	2,190
Other	8,090	8,016	16,389	14,561
Total noninterest expense	42,563	39,610	84,600	76,007
Income before taxes	18,422	16,062	40,466	33,896
Income tax expense	(6,693)	(5,947)	(14,732)	(12,426)
Net income	11,729	10,115	25,734	21,470
NET INCOME PER COMMON SHARE
Basic	$ 0.77	$ 0.66	$ 1.70	$ 1.40
Diluted	$ 0.76	$ 0.65	$ 1.67	$ 1.37
OTHER COMPREHENSIVE INCOME
Unrealized gains (losses) on securities, net of tax of $292, $(1,034), $610 and $(959), respectively	(541)	1,976	(1,132)	1,784
Reclassification adjustment for gains included in net income, net of tax of $5, $293, $728 and $293, respectively	(11)	(544)	(1,353)	(544)
Other comprehensive income (loss), net of tax of $297, $(741), $1,338 and $(666), respectively	(552)	1,432	(2,485)	1,240
Comprehensive income	$ 11,177	$ 11,547	$ 23,249	$ 22,710

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Intangible Assets

6 Months Ended

Jun. 30, 2012

Intangible Assets [Abstract]

INTANGIBLE ASSETS

(5) INTANGIBLE ASSETS

The following is a summary of intangible assets:

	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
	(Dollars in thousands)
As of June 30, 2012
Core deposit intangibles	$	14,800	$	(6,402	)	$	8,398
Customer relationship intangibles		5,657		(1,812	)		3,845
Mortgage servicing intangibles		986		(71	)		915
Total	$	21,443	$	(8,285	)	$	13,158

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Loans and Allowance for Loan Losses

6 Months Ended

Jun. 30, 2012

Receivables [Abstract]

LOANS AND ALLOWANCE FOR LOAN LOSSES

(4) LOANS AND ALLOWANCE FOR LOAN LOSSES

The following is a schedule of loans outstanding by category:

	June 30, 2012					December 31, 2011					June 30, 2011
	Amount		Percent			Amount		Percent			Amount		Percent
	(Dollars in thousands)
Commercial and industrial	$	515,456		16.82	%	$	547,942		18.19	%	$	551,293		19.26	%
Oil & gas production & equipment		125,228		4.08			115,786		3.84			113,868		3.98
Agriculture		77,882		2.54			86,297		2.86			74,221		2.59
State and political subdivisions:
Taxable		6,520		0.21			6,939		0.23			7,281		0.25
Tax-exempt		13,853		0.45			17,070		0.57			11,920		0.42
Real estate:
Construction		197,168		6.43			207,953		6.90			236,660		8.27
Farmland		111,472		3.64			103,923		3.45			86,285		3.02
One to four family residences		674,577		22.01			655,134		21.74			618,428		21.61
Multifamily residential properties		46,866		1.53			37,734		1.25			34,040		1.19
Commercial		1,036,322		33.81			960,074		31.86			846,684		29.59
Consumer		239,156		7.80			252,331		8.37			255,975		8.94
Other (not classified above)		20,939		0.68			22,315		0.74			25,189		0.88
Total loans	$	3,065,439		100.00	%	$	3,013,498		100.00	%	$	2,861,844		100.00	%
Loans held for sale (included above)	$	16,612				$	12,126				$	11,258

The Company’s loans are mostly to customers within Oklahoma and over 60% of the loans are secured by real estate. Credit risk on loans is managed through limits on amounts loaned to individual borrowers, underwriting standards and loan monitoring procedures. The amounts and types of collateral obtained, if any, to secure loans are based upon the Company’s underwriting standards and management’s credit evaluation. Collateral varies, but may include real estate, equipment, accounts receivable, inventory, livestock and securities. The Company’s interest in collateral is secured through filing mortgages and liens, and in some cases, by possession of the collateral.

Accounting policies related to appraisals, nonaccruals and charge-offs are disclosed in Footnote (5) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2011.

Nonperforming and Restructured Assets

Nonaccrual loans, accruing loans past due 90 days or more, and restructured loans are shown in the table below. Had nonaccrual loans performed in accordance with their original contract terms, the Company would have recognized additional interest income of approximately $654,000 for the six months ended June 30, 2012 and approximately $562,000 for the six months ended June 30, 2011.

At June 30, 2012, troubled debt restructurings were primarily due to the principal deferral restructuring from one customer. This loan was evaluated by management and determined to be well collateralized. Additionally, none of the concessions granted involved a principal reduction or a change from the current market rate of interest. Collateral value will be monitored periodically to evaluate possible impairment. The Company charges interest on principal balances outstanding during deferral periods. As a result, the current and future financial effects of the recorded balance of loans considered to be restructured were not considered to be material.

The following is a summary of nonperforming and restructured assets:

	June 30,			December 31,			June 30,
	2012			2011			2011
	(Dollars in thousands)
Past due 90 days or more and still accruing	$	1,403		$	798		$	1,166
Nonaccrual		20,702			21,187			22,469
Restructured		18,089			1,041			344
Total nonperforming and restructured loans		40,194			23,026			23,979
Other real estate owned and repossessed assets		10,223			16,640			15,501
Total nonperforming and restructured assets	$	50,417		$	39,666		$	39,480
Nonperforming and restructured loans to total loans		1.31	%		0.76	%		0.84	%
Nonperforming and restructured assets to total assets		0.89	%		0.71	%		0.75	%

Loans are segregated into classes based upon the nature of the collateral and the borrower. These classes are used to estimate the credit risk component in the allowance for loan losses.

The following table is a summary of amounts included in nonaccrual loans, segregated by class of loans. Residential real estate refers to one-to-four family real estate.

	June 30, 2012		June 30, 2011
	(Dollars in thousands)
Non-residential real estate	$	9,711	$	9,235
Residential real estate		4,098		5,860
Non-consumer non-real estate		1,142		1,547
Consumer non-real estate		140		178
Other loans		1,918		4,285
Acquired loans		3,693		1,364
Total	$	20,702	$	22,469

The following table presents an age analysis of past due loans, segregated by class of loans:

	Age Analysis of Past Due Receivables
	30-89 Days Past Due		90 Days and Greater		Total Past Due Loans		Current Loans		Total Loans		Accruing Loans 90 Days or More Past Due
	(Dollars in thousands)
As of June 30, 2012
Non-residential real estate	$	2,649	$	2,454	$	5,103	$	1,135,948	$	1,141,051	$	285
Residential real estate		4,240		1,288		5,528		715,621		721,149		478
Non-consumer non-real estate		1,285		244		1,529		695,887		697,416		16
Consumer non-real estate		2,002		183		2,185		198,242		200,427		122
Other loans		1,213		1,654		2,867		153,117		155,984		102
Acquired loans		3,134		1,352		4,486		144,926		149,412		400
Total	$	14,523	$	7,175	$	21,698	$	3,043,741	$	3,065,439	$	1,403
As of June 30, 2011
Non-residential real estate	$	1,720	$	573	$	2,293	$	978,409	$	980,702	$	1
Residential real estate		2,617		2,208		4,825		684,344		689,169		927
Non-consumer non-real estate		1,474		324		1,798		710,640		712,438		6
Consumer non-real estate		1,822		173		1,995		196,583		198,578		116
Other loans		3,489		3,766		7,255		152,982		160,237		89
Acquired loans		908		920		1,828		118,892		120,720		27
Total	$	12,030	$	7,964	$	19,994	$	2,841,850	$	2,861,844	$	1,166

Impaired Loans

Loans are considered impaired when, based on current information and events, it is probable the Company will be unable to collect the full amount of scheduled principal and interest payments in accordance with the original contractual terms of the loan agreement. If a loan is impaired, a specific valuation allowance may be allocated, if necessary, so that the loan is reported net at the present value of future cash flows using the loan’s existing rate or the fair value of collateral if repayment is expected solely from the collateral. When it is not deemed necessary to allocate a specific valuation allowance to an impaired loan, the loan nevertheless will have an allowance based on a historically adequate percentage determined for the class of loans.

The following table presents impaired loans, segregated by class of loans. No material amount of interest income was recognized on impaired loans subsequent to their classification as impaired.

	Impaired Loans
	Unpaid Principal Balance		Recorded Investment with Allowance		Related Allowance		Average Recorded Investment
	(Dollars in thousands)
As of June 30, 2012
Non-residential real estate	$	28,184	$	27,165	$	2,122	$	27,397
Residential real estate		5,839		5,384		1,468		5,547
Non-consumer non-real estate		1,792		1,163		302		1,512
Consumer non-real estate		349		325		59		389
Other loans		2,255		2,020		212		2,158
Acquired loans		13,648		11,522		291		13,263
Total	$	52,067	$	47,579	$	4,454	$	50,266
As of June 30, 2011
Non-residential real estate	$	9,723	$	9,235	$	978	$	10,223
Residential real estate		6,466		5,860		1,520		6,511
Non-consumer non-real estate		1,873		1,547		358		1,806
Consumer non-real estate		211		178		47		212
Other loans		4,418		4,285		193		4,312
Acquired loans		1,529		1,364		92		1,339
Total	$	24,220	$	22,469	$	3,188	$	24,403

Credit Risk Monitoring and Loan Grading

The Company employs several means to monitor the risk in the loan portfolio including volume and severity of loan delinquencies, nonaccrual loans, internal grading of loans, historical loan loss experience, and economic conditions.

Loans are subject to an internal risk grading system which indicates the risk and acceptability of that loan. The loan grades used by the Company are for internal risk identification purposes and do not directly correlate to regulatory classification categories or any financial reporting definitions.

The general characteristics of the risk grades are as follows:

Grade 1—Acceptable—Loans graded 1 represent reasonable and satisfactory credit risk which requires normal attention and supervision. Capacity to repay through primary and/or secondary sources is not questioned.

Grade 2—Acceptable—Increased Attention—This category consists of loans that have credit characteristics deserving management’s close attention. These potential weaknesses could result in deterioration of the repayment prospects for the loan or the Bank’s credit position at some future date. Such credit characteristics include loans to highly leveraged borrowers in cyclical industries, adverse financial trends which could potentially weaken repayment capacity, loans that have fundamental structure deficiencies, loans lacking secondary sources of repayment where prudent, and loans with deficiencies in essential documentation, including financial information.

Grade 3—Loans with Problem Potential—This category consists of performing loans which are considered to exhibit problem potential. Loans in this category would generally include, but not be limited to, borrowers with a weakened financial condition or poor performance history, past dues, loans restructured to reduce payments to an amount that is below market standards and/or loans with severe documentation problems. In general, these loans have no identifiable loss potential in the near future, however, the possibility of a loss developing is heightened.

Grade 4—Problem Loans/Assets—Nonperforming—This category consists of nonperforming loans/assets which are considered to be problems. Nonperforming loans are described as being 90 days and over past due and still accruing, and loans that are nonaccrual. The government guaranteed portion of SBA loans is excluded.

Grade 5—Loss Potential—This category consists of loans/assets which are considered to possess loss potential. While the loss may not occur in the current year, management expects that loans/assets in this category will ultimately result in a loss, unless substantial improvement occurs.

Grade 6—Charge Off—This category consists of loans that are considered uncollectible and other assets with little or no value.

The following table presents internal loan grading by class of loans:

	Internal Loan Grading
	Grade
	1		2		3		4		5		Total
	(Dollars in thousands)
As of June 30, 2012
Non-residential real estate	$	983,946	$	118,825	$	28,514	$	9,766	$	—	$	1,141,051
Residential real estate		619,115		81,324		15,920		4,790		—		721,149
Non-consumer non-real estate		610,214		78,825		7,211		1,166		—		697,416
Consumer non-real estate		187,768		10,204		2,122		333		—		200,427
Other loans		151,330		2,917		1,027		710		—		155,984
Acquired loans		110,506		27,002		7,898		4,006		—		149,412
Total	$	2,662,879	$	319,097	$	62,692	$	20,771	$	—	$	3,065,439
As of June 30, 2011
Non-residential real estate	$	834,857	$	103,359	$	33,446	$	9,040	$	—	$	980,702
Residential real estate		601,469		68,651		12,970		6,079		—		689,169
Non-consumer non-real estate		638,872		61,481		10,710		1,375		—		712,438
Consumer non-real estate		189,220		6,891		2,172		295		—		198,578
Other loans		153,104		2,463		2,050		2,620		—		160,237
Acquired loans		84,482		26,475		8,398		1,267		98		120,720
Total	$	2,502,004	$	269,320	$	69,746	$	20,676	$	98	$	2,861,844

Allowance for Loan Losses Methodology

The allowance for loan losses (“ALLL”) is determined by a calculation based on segmenting the loans into the following categories: (1) adversely graded loans [Grades 3, 4, and 5] that have a specific reserve allocation; (2) loans without a specific reserve segmented by loans secured by real estate other than 1-4 family residential property, loans secured by 1-4 family residential property, commercial, industrial, and agricultural loans not secured by real estate, consumer purpose loans not secured by real estate, and loans over 60 days past due that are not otherwise Grade 3, 4, or 5; (3) Grade 2 loans; (4) Grade 1 loans; and (5) loans held for sale which are excluded.

The ALLL is calculated as the sum of the following: (1) the total dollar amount of specific reserve allocations; (2) the dollar amount derived by multiplying each segment of adversely graded loans without a specific reserve allocation times its respective reserve factor; (3) the dollar amount derived by multiplying Grade 2 loans and Grade 1 loans (less exclusions) times the respective reserve factor; and (4) other adjustments as deemed appropriate and documented by the Senior Loan Committee or Board of Directors.

The amount of the ALLL is an estimate based upon factors which are subject to rapid change due to changing economic conditions and the economic prospects of borrowers. It is reasonably possible that a material change could occur in the estimated ALLL in the near term.

The following table details activity in the ALLL by class of loans for the period presented. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories.

ALLL
	Non-Residential Real Estate			Residential Real Estate			Non- Consumer Non-Real Estate			Consumer Non-Real Estate			Other Loans			Acquired Loans			Total
	(Dollars in thousands)
Three Months Ended June 30, 2012
Allowance for credit losses:
Balance at March 31, 2012	$	14,109		$	9,762		$	9,198		$	2,283		$	1,850		$	431		$	37,633
Charge-offs		(7	)		(95	)		(313	)		(77	)		(27	)		(12	)		(531	)
Recoveries		(6	)		13			26			32			12			9			86
Net charge-offs		(13	)		(82	)		(287	)		(45	)		(15	)		(3	)		(445	)
Provisions charged to operations		253			326			(353	)		44			19			(41	)		248
Balance at June 30, 2012	$	14,349		$	10,006		$	8,558		$	2,282		$	1,854		$	387		$	37,436
Six Months Ended June 30, 2012
Allowance for credit losses:
Balance at December 31, 2011	$	13,948		$	9,764		$	9,156		$	2,315		$	1,886		$	587		$	37,656
Charge-offs		(128	)		(131	)		(330	)		(191	)		(207	)		(76	)		(1,063	)
Recoveries		31			109			124			116			31			11			422
Net charge-offs		(97	)		(22	)		(206	)		(75	)		(176	)		(65	)		(641	)
Provisions charged to operations		498			264			(392	)		42			144			(135	)		421
Balance at June 30, 2012	$	14,349		$	10,006		$	8,558		$	2,282		$	1,854		$	387		$	37,436
Ending balances:
Individually evaluated for impairment	$	2,986		$	2,760		$	1,436		$	302		$	196		$	—		$	7,680
Collectively evaluated for impairment		11,363			7,246			7,122			1,980			1,658			387			29,756
Balance at June 30, 2012	$	14,349		$	10,006		$	8,558		$	2,282		$	1,854		$	387		$	37,436
Loans-Ending balances:
Individually evaluated for impairment	$	38,278		$	20,710		$	8,377		$	2,455		$	109		$	—		$	69,929
Collectively evaluated for impairment		1,102,773			700,439			689,039			197,972			155,875			137,508			2,983,606
Loans acquired with deteriorated credit quality		—			—			—			—			—			11,904			11,904
Balance at June 30, 2012	$	1,141,051		$	721,149		$	697,416		$	200,427		$	155,984		$	149,412		$	3,065,439

ALLL
	Non-Residential Real Estate			Residential Real Estate			Non- Consumer Non-Real Estate			Consumer Non-Real Estate			Other Loans			Acquired Loans			Total
	(Dollars in thousands)
Three Months Ended June 30, 2011
Allowance for credit losses:
Balance at March 31, 2011	$	12,979		$	9,612		$	9,165		$	2,258		$	1,699		$	423		$	36,136
Charge-offs		(136	)		(312	)		(179	)		(223	)		(22	)		(302	)		(1,174	)
Recoveries		7			39			29			36			5			1			117
Net charge-offs		(129	)		(273	)		(150	)		(187	)		(17	)		(301	)		(1,057	)
Provisions charged to operations		801			41			319			166			30			656			2,013
Balance at June 30, 2011	$	13,651		$	9,380		$	9,334		$	2,237		$	1,712		$	778		$	37,092
Six Months Ended June 30, 2011
Allowance for credit losses:
Balance at December 31, 2010	$	13,142		$	8,957		$	9,587		$	2,301		$	1 ,758		$	—		$	35,745
Charge-offs		(269	)		(501	)		(184	)		(328	)		(122	)		(331	)		(1,735	)
Recoveries		16			95			84			68			7			11			281
Net charge-offs		(253	)		(406	)		(100	)		(260	)		(115	)		(320	)		(1,454	)
Provisions charged to operations		762			829			(153	)		196			69			1,098			2,801
Balance at June 30, 2011	$	13,651		$	9,380		$	9,334		$	2,237		$	1,712		$	778		$	37,092
Ending balances:
Individually evaluated for impairment	$	3,694		$	2,314		$	2,021		$	297		$	285		$	—		$	8,611
Collectively evaluated for impairment		9,957			7,066			7,313			1,940			1,427			778			28,481
Balance at June 30, 2011	$	13,651		$	9,380		$	9,334		$	2,237		$	1,712		$	778		$	37,092
Loans-Ending balances:
Individually evaluated for impairment	$	42,486		$	19,049		$	12,085		$	2,467		$	413		$	—		$	76,500
Collectively evaluated for impairment		938,216			670,120			700,353			196,111			159,824			110,957			2,775,581
Loans acquired with deteriorated credit quality		—			—			—			—			—			9,763			9,763
Balance at June 30, 2011	$	980,702		$	689,169		$	712,438		$	198,578		$	160,237		$	120,720		$	2,861,844

Transfers from Loans

Transfers from loans to other real estate owned and repossessed assets are non-cash transactions, and are not included in the statements of cash flow.

Transfers from loans to other real estate owned and repossessed assets during the periods presented, are summarized as follows:

	Six Months Ended June 30,
	2012		2011
	(Dollars in thousands)
Other real estate owned	$	1,284	$	3,145
Repossessed assets		295		913
Total	$	1,579	$	4,058

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Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2012

Intangible Assets [Abstract]

Summary of intangible assets

	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
	(Dollars in thousands)
As of June 30, 2012
Core deposit intangibles	$	14,800	$	(6,402	)	$	8,398
Customer relationship intangibles		5,657		(1,812	)		3,845
Mortgage servicing intangibles		986		(71	)		915
Total	$	21,443	$	(8,285	)	$	13,158

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Segment Information

6 Months Ended

Jun. 30, 2012

Segment Information [Abstract]

SEGMENT INFORMATION

(12) SEGMENT INFORMATION

The Company evaluates its performance with an internal profitability measurement system that measures the profitability of its business units on a pre-tax basis. The four principal business units are metropolitan banks, community banks, other financial services, and executive, operations and support. Metropolitan and community banks offer traditional banking products such as commercial and retail lending, and a full line of deposit accounts. Metropolitan banks consist of banking locations in the metropolitan Oklahoma City and Tulsa areas. Community banks consist of banking locations in communities throughout Oklahoma. Other financial services are specialty product business units including guaranteed small business lending, residential mortgage lending, trust services, securities brokerage, electronic banking and insurance. The executive, operations and support groups represent executive management, operational support and corporate functions that are not allocated to the other business units.

The results of operations and selected financial information for the four business units are as follows:

	Metropolitan Banks		Community Banks		Other Financial Services		Executive, Operations & Support			Eliminations			Consolidated
	(Dollars in thousands)
Three Months Ended:
June 30, 2012
Net interest income (expense)	$	13,354	$	26,384	$	1,721	$	(590	)	$	—		$	40,869
Noninterest income		2,672		10,721		6,214		13,245			(12,488	)		20,364
Income before taxes		8,220		14,944		2,011		5,686			(12,439	)		18,422
June 30, 2011
Net interest income (expense)	$	12,311	$	24,921	$	1,759	$	(985	)	$	—		$	38,006
Noninterest income		2,706		9,647		6,427		11,616			(10,717	)		19,679
Income before taxes		6,398		13,616		3,132		3,603			(10,687	)		16,062
Six Months Ended:
June 30, 2012
Net interest income (expense)	$	26,517	$	53,015	$	3,434	$	(1,280	)	$	—		$	81,686
Noninterest income		5,353		20,856		16,078		28,626			(27,112	)		43,801
Income before taxes		16,652		30,199		8,398		12,219			(27,002	)		40,466
June 30, 2011
Net interest income (expense)	$	24,483	$	49,058	$	3,751	$	(1,997	)	$	—		$	75,295
Noninterest income		5,512		18,685		11,581		24,264			(22,633	)		37,409
Income before taxes		14,880		26,836		5,632		9,090			(22,542	)		33,896
Total Assets:
June 30, 2012	$	1,801,752	$	3,688,931	$	130,762	$	607,662		$	(557,396	)	$	5,671,711
December 31, 2011	$	1,738,426	$	3,660,239	$	153,872	$	602,577		$	(546,289	)	$	5,608,825
June 30, 2011	$	1,656,064	$	3,401,037	$	151,220	$	605,726		$	(546,602	)	$	5,267,445

The financial information for each business unit is presented on the basis used internally by management to evaluate performance and allocate resources. The Company utilizes a transfer pricing system to allocate the benefit or cost of funds provided or used by the various business units. Certain services provided by the support group to other business units, such as item processing, are allocated at rates approximating the cost of providing the services. Eliminations are adjustments to consolidate the business units and companies. Capital expenditures are generally charged to the business unit using the asset.

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Stockholders' Equity

6 Months Ended

Jun. 30, 2012

Stockholders' Equity [Abstract]

STOCKHOLDERS EQUITY

(8) 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 stockholders wishing to sell their stock. All shares repurchased under the SRP have been retired and not held as treasury 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.

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

	Three Months Ended June 30,				Six Months Ended June 30,
	2012		2011		2012		2011
Number of shares repurchased		6,787		117,176		6,787		117,176
Average price of shares repurchased	$	37.70	$	37.75	$	37.70	$	37.75
Shares remaining to be repurchased		234,964		426,724		234,964		426,724

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 June 30, 2012, 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 June 30, 2012:
Total Capital
(to Risk Weighted Assets)-
BancFirst Corporation	$	500,048		14.62	%	$	273,588		8.00	%		N/A		N/A
BancFirst		475,563		13.94	%		272,894		8.00	%	$	341,118		10.00	%
Tier 1 Capital
(to Risk Weighted Assets)-
BancFirst Corporation	$	462,612		13.53	%	$	136,794		4.00	%		N/A		N/A
BancFirst		438,127		12.84	%		136,447		4.00	%	$	204,671		6.00	%
Tier 1 Capital
(to Total Assets)-
BancFirst Corporation	$	462,612		8.24	%	$	170,193		3.00	%		N/A		N/A
BancFirst		438,127		7.81	%		169,614		3.00	%	$	282,690		5.00	%

As of June 30, 2012, BancFirst was considered to be “well capitalized” and there are no conditions or events since the most recent notification of BancFirst’s capital category that management believes would materially change its category under capital requirements existing as of the report date. 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%. The Company’s trust preferred securities have continued to be included in Tier 1 capital as the Company’s total assets do not exceed $10 billion.

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Net Income Per Common Share (Details 1) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Average exercise prices of options excluded from computation of diluted net income per common share
Shares	607,200	537,008	607,200	503,857
Average Exercise Price	$ 38.70	$ 38.94	$ 38.70	$ 38.80

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Junior Subordinated Debentures

6 Months Ended

Jun. 30, 2012

Junior Subordinated Debentures [Abstract]

JUNIOR SUBORDINATED DEBENTURES

(6) JUNIOR SUBORDINATED DEBENTURES

The following is a summary of the Junior Subordinated Debentures:

	June 30, 2012		December 31, 2011
Issue	Amount		Amount		Rate	Maturity
	(Dollars in thousands)
BFC II	$	26,804	$	26,804	7.20%		03/31/2034
UNST I		—		2,062	3 month LIBOR + 1.65%		03/15/2036
FBCST I		—		7,217	3 month LIBOR + 2.85%		12/17/2033
Total	$	26,804	$	36,083

Refer to Note (11) in BancFirst Corporation’s Annual Report on Form 10-K for the year ended December 31, 2011, for further disclosures related to Junior Subordinated Debentures.

On June 15, 2012, BancFirst Corporation redeemed the Union National Statutory Trust I (“UNST I”) Junior Subordinated Debentures at par value.

On June 18, 2012, BancFirst Corporation redeemed the FBC Financial Corp. Statutory Trust I (“FBCST I”) Junior Subordinated Debentures at par value.

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Stock-Based Compensation

6 Months Ended

Jun. 30, 2012

Stock-Based Compensation [Abstract]

STOCK-BASED COMPENSATION

(7) STOCK-BASED COMPENSATION

The Company adopted a nonqualified incentive stock option plan (the “BancFirst ISOP”) in May 1986. The Company amended the BancFirst ISOP to increase the number of shares to be issued under the plan to 2,800,000 shares in May 2011. At June 30, 2012, 64,860 shares were available for future grants. The BancFirst ISOP will terminate on December 31, 2014. The options are exercisable beginning four years from the date of grant at the rate of 25% per year for four years. Options expire at the end of fifteen years from the date of grant. Options outstanding as of June 30, 2012 will become exercisable through the year 2018. The option price must be no less than 100% of the fair market value of the stock relating to such option at the date of grant.

In June 1999, the Company adopted the BancFirst Corporation Non-Employee Directors’ Stock Option Plan (the “BancFirst Directors’ Stock Option Plan”). Each non-employee director is granted an option for 10,000 shares. The Company amended the BancFirst Directors’ Stock Option Plan to increase the number of shares to be issued under the plan to 205,000 shares in May 2009. At June 30, 2012, 30,000 shares were available for future grants. The options are exercisable beginning one year from the date of grant at the rate of 25% per year for four years, and expire at the end of fifteen years from the date of grant. Options outstanding as of June 30, 2012 will become exercisable through the year 2015. The option price must be no less than 100% of the fair value of the stock relating to such option at the date of grant.

The Company currently uses newly issued stock to satisfy stock-based exercises, but reserves the right to use treasury stock purchased under the Company’s Stock Repurchase Program (the “SRP”) in the future.

The following table is a summary of the activity under both the BancFirst ISOP and the BancFirst Directors’ Stock Option Plan:

	Options			Wgtd. Avg. Exercise Price		Wgtd. Avg. Remaining Contractual Term			Aggregate Intrinsic Value
	(Dollars in thousands, except per share data)
Six Months Ended June 30, 2012
Outstanding at December 31, 2011		1,298,431		$	30.14
Options granted		—			—
Options exercised		(42,133	)		17.13
Options canceled, forfeited, or expired		—			—
Outstanding at June 30, 2012		1,256,298			30.58		8.39	Yr	$	14,237
Exercisable at June 30, 2012		699,848			24.44		5.27	Yr	$	12,223

The following table is a summary of the Company’s non-vested options as of June 30, 2012, and any changes during the six months ended June 30, 2012:

	Options
Non-vested at December 31, 2011		591,700
Options granted		—
Options vested		(35,250	)
Options forfeited		—
Non-vested at June 30, 2012		556,450

The following table has additional information regarding options granted and options exercised under both the BancFirst ISOP and the BancFirst Directors’ Stock Option Plan:

	Three Months Ended June  30,				Six Months Ended June 30,
	2012		2011		2012		2011
	(Dollars in thousands, except per share data)
Weighted average grant-date fair value per share of options granted	$	—	$	11.36	$	—	$	12.48
Total intrinsic value of options exercised		617		—		1,749		405
Cash received from options exercised		239		—		722		438
Tax benefit realized from options exercised		239		—		677		157

The fair value of each option grant is estimated on the date of grant using the Black-Scholes option-pricing model and is based on certain assumptions including risk-free rate of return, dividend yield, stock price volatility, and the expected term. The fair value of each option is expensed over its vesting period.

The following table is a summary of the Company’s recorded stock-based compensation expense:

	Three Months Ended June 30,						Six Months Ended June 30,
	2012			2011			2012			2011
	(Dollars in thousands)
Stock-based compensation expense	$	357		$	271		$	798		$	646
Tax		(138	)		(105	)		(309	)		(250	)
Stock-based compensation expense, net of tax	$	219		$	166		$	489		$	396

The Company will continue to amortize the remaining fair value of stock options over the remaining vesting period of approximately seven years. The following table shows the remaining fair value of stock options:

	June 30, 2012
	(Dollars in thousands)
Fair value of stock options	$	5,675

The following table shows the assumptions used for computing stock-based compensation expense under the fair value method:

	Six Months Ended June  30,
	2012			2011
Risk-free interest rate		1.78	%		3.61	%
Dividend yield		2.00	%		2.00	%
Stock price volatility		38.72	%		25.26	%
Expected term		10	Yrs		10	Yrs

The risk-free interest rate is determined by reference to the spot zero-coupon rate for the U.S. Treasury security with a maturity similar to the expected term of the options. The dividend yield is the expected yield for the expected term. The stock price volatility is estimated from the recent historical volatility of the Company’s stock. The expected term is estimated from the historical option exercise experience.

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Net Income Per Common Share

6 Months Ended

Jun. 30, 2012

Net Income Per Common Share [Abstract]

NET INCOME PER COMMON SHARE

(9) NET INCOME PER COMMON SHARE

Basic and diluted net income per common share are calculated as follows:

	Income (Numerator)		Shares (Denominator)		Per Share Amount
	(Dollars in thousands, except per share data)
Three Months Ended June 30, 2012
Basic
Income available to common stockholders	$	11,729		15,155,525	$	0.77
Effect of stock options		—		271,271
Diluted
Income available to common stockholders plus assumed exercises of stock options	$	11,729		15,426,796	$	0.76
Three Months Ended June 30, 2011
Basic
Income available to common stockholders	$	10,115		15,364,738	$	0.66
Effect of stock options		—		287,215
Diluted
Income available to common stockholders plus assumed exercises of stock options	$	10,115		15,651,953	$	0.65
Six Months Ended June 30, 2012
Basic
Income available to common stockholders	$	25,734		15,145,066	$	1.70
Effect of stock options		—		276,608
Diluted
Income available to common stockholders plus assumed exercises of stock options	$	25,734		15,421,674	$	1.67
Six Months Ended June 30, 2011
Basic
Income available to common stockholders	$	21,470		15,362,764	$	1.40
Effect of stock options		—		295,723
Diluted
Income available to common stockholders plus assumed exercises of stock options	$	21,470		15,658,487	$	1.37

The following table shows the number and average exercise price of options that were excluded from the computation of diluted net income per common share for each period because the options’ exercise prices were greater than the average market price of the common shares:

	Shares		Average Exercise  Price
Three Months Ended June 30, 2012		607,200	$	38.70
Three Months Ended June 30, 2011		537,008	$	38.94
Six Months Ended June 30, 2012		607,200	$	38.70
Six Months Ended June 30, 2011		503,857	$	38.80

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Fair Value Measurements (Details 3) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011	Jun. 30, 2011	Dec. 31, 2010
Estimated fair values of company's financial instruments
Cash and Cash Equivalents	$ 1,763,908	$ 1,707,733	$ 1,571,099	$ 1,204,079
Securities held for investment	19,734
Total loans (net of unearned interest)	3,065,439	3,013,498	2,861,844
Allowance for loan losses	(37,436)	(37,656)	(37,092)
Loans, net	3,028,003	2,975,842	2,824,752
Deposits	5,099,648	5,037,735	4,701,999
Short-term borrowings	6,340	8,274	1,400
Long-term borrowings	11,329	18,476	32,121
Junior subordinated notes	26,804	36,083	28,866
Carrying Amount [Member]
Estimated fair values of company's financial instruments
Cash and Cash Equivalents	1,763,908		1,571,199
Securities held for investment	19,734		25,654
Total loans (net of unearned interest)	3,065,439		2,861,844
Allowance for loan losses	(37,436)		(37,092)
Loans, net	3,028,003		2,824,752
Deposits	5,099,648		4,701,999
Short-term borrowings	6,340		1,400
Long-term borrowings	11,329		32,121
Junior subordinated notes	26,804		28,866
Estimated Market Value [Member]
Estimated fair values of company's financial instruments
Cash and Cash Equivalents	1,763,908		1,571,199
Securities held for investment	20,104		26,225
Loans, net	3,092,725		2,843,098
Deposits	5,121,335		4,732,880
Short-term borrowings	6,340		1,400
Long-term borrowings	11,431		32,620
Junior subordinated notes	28,970		31,997
Loan commitments	1,321		1,058
Letters of credit	$ 428		$ 441

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Derivative Financial Instruments (Details 1) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Recognized derivative income included in other noninterest income
Derivative income	$ 141	$ 74	$ 350	$ 198

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Fair Value Measurements (Details 2) (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Impaired Loans [Member]
Assets measured at fair value on a nonrecurring basis
Assets measured at fair value on a nonrecurring basis	$ 43,125	$ 19,281
Foreclosed Assets [Member]
Assets measured at fair value on a nonrecurring basis
Assets measured at fair value on a nonrecurring basis	135	510
Gains (Losses)	(86)	1
Other Real Estate Owned [Member]
Assets measured at fair value on a nonrecurring basis
Assets measured at fair value on a nonrecurring basis	10,088	14,991
Gains (Losses)	(1,067)	291
Level 1 Inputs [Member] | Impaired Loans [Member]
Assets measured at fair value on a nonrecurring basis
Assets measured at fair value on a nonrecurring basis
Level 1 Inputs [Member] | Foreclosed Assets [Member]
Assets measured at fair value on a nonrecurring basis
Assets measured at fair value on a nonrecurring basis
Level 1 Inputs [Member] | Other Real Estate Owned [Member]
Assets measured at fair value on a nonrecurring basis
Assets measured at fair value on a nonrecurring basis
Level 2 Inputs [Member] | Impaired Loans [Member]
Assets measured at fair value on a nonrecurring basis
Assets measured at fair value on a nonrecurring basis
Level 2 Inputs [Member] | Foreclosed Assets [Member]
Assets measured at fair value on a nonrecurring basis
Assets measured at fair value on a nonrecurring basis
Level 2 Inputs [Member] | Other Real Estate Owned [Member]
Assets measured at fair value on a nonrecurring basis
Assets measured at fair value on a nonrecurring basis
Level 3 Inputs [Member] | Impaired Loans [Member]
Assets measured at fair value on a nonrecurring basis
Assets measured at fair value on a nonrecurring basis	43,125	19,281
Level 3 Inputs [Member] | Foreclosed Assets [Member]
Assets measured at fair value on a nonrecurring basis
Assets measured at fair value on a nonrecurring basis	135	510
Level 3 Inputs [Member] | Other Real Estate Owned [Member]
Assets measured at fair value on a nonrecurring basis
Assets measured at fair value on a nonrecurring basis	$ 10,088	$ 14,991

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Securities (Details 2) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012
Unrealized gains and losses and estimated market values of debt securities available for sale
Amortized Cost	$ 544,595
Gross Unrealized Gains	10,861
Gross Unrealized Losses	(156)
Estimated Market Value	555,300
U.S. Federal agencies [Member]
Unrealized gains and losses and estimated market values of debt securities available for sale
Amortized Cost	455,175
Gross Unrealized Gains	4,512
Gross Unrealized Losses	(121)
Estimated Market Value	459,566
Mortgage backed securities [Member]
Unrealized gains and losses and estimated market values of debt securities available for sale
Amortized Cost	23,869
Gross Unrealized Gains	843
Gross Unrealized Losses	(3)
Estimated Market Value	24,709
States and political subdivisions [Member]
Unrealized gains and losses and estimated market values of debt securities available for sale
Amortized Cost	57,540
Gross Unrealized Gains	3,008
Gross Unrealized Losses	(10)
Estimated Market Value	60,538
Other securities [Member]
Unrealized gains and losses and estimated market values of debt securities available for sale
Amortized Cost	8,011
Gross Unrealized Gains	2,498
Gross Unrealized Losses	(22)
Estimated Market Value	$ 10,487

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Stock-Based Compensation (Details 2) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Options granted and options exercised under stock option plan
Weighted average grant-date fair value per share of options granted		$ 11.36		$ 12.48
Total intrinsic value of options exercised	$ 617		$ 1,749	$ 405
Cash received from options exercised	239		722	438
Tax benefit realized from options exercised	$ 239		$ 677	$ 157

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Securities (Tables)

6 Months Ended

Jun. 30, 2012

Securities [Abstract]

Securities held for investment and securities available for sale

	June 30, 2012
	(Dollars in thousands)
Held for investment, at cost (market value: $20,104)	$	19,734
Available for sale, at market value		555,300
Total	$	575,034

Amortized cost and estimated market values of securities held for investment

	June 30, 2012
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Market Value
	(Dollars in thousands)
U.S. treasury and other Federal agencies	$	901	$	68	$	—	$	969
States and political subdivisions		18,833		302		—		19,135
Total	$	19,734	$	370	$	—	$	20,104

Amortized cost and estimated market values of securities available for sale

	June 30, 2012
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Market Value
	(Dollars in thousands)
U.S. Federal agencies (1)	$	455,175	$	4,512	$	(121	)	$	459,566
Mortgage backed securities		23,869		843		(3	)		24,709
States and political subdivisions		57,540		3,008		(10	)		60,538
Other securities (2)		8,011		2,498		(22	)		10,487
Total	$	544,595	$	10,861	$	(156	)	$	555,300

(1) Primarily consists of FHLMC, FNMA, GNMA and mortgage backed securities through U.S. agencies.

(2) Primarily consists of equity securities.

Maturity of securities

	June 30, 2012
	Amortized Cost		Estimated Market Value
	(Dollars in thousands)
Held for Investment
Contractual maturity of debt securities:
Within one year	$	1,583	$	1,602
After one year but within five years		14,679		14,909
After five years but within ten years		2,830		2,889
After ten years		642		704
Total	$	19,734	$	20,104
Available for Sale
Contractual maturity of debt securities:
Within one year	$	85,373	$	86,441
After one year but within five years		323,771		326,413
After five years but within ten years		46,982		49,031
After ten years		80,458		82,928
Total debt securities		536,584		544,813
Equity securities		8,011		10,487
Total	$	544,595	$	555,300

Company's book value of pledged securities

	June 30, 2012
	(Dollars in thousands)
Book value of pledged securities	$	484,329

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Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2012

Stockholders' Equity [Abstract]

Summary of shares repurchased under stock purchase program

	Three Months Ended June 30,				Six Months Ended June 30,
	2012		2011		2012		2011
Number of shares repurchased		6,787		117,176		6,787		117,176
Average price of shares repurchased	$	37.70	$	37.75	$	37.70	$	37.75
Shares remaining to be repurchased		234,964		426,724		234,964		426,724

Required capital amounts and the Company's respective ratios

	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 June 30, 2012:
Total Capital
(to Risk Weighted Assets)-
BancFirst Corporation	$	500,048		14.62	%	$	273,588		8.00	%		N/A		N/A
BancFirst		475,563		13.94	%		272,894		8.00	%	$	341,118		10.00	%
Tier 1 Capital
(to Risk Weighted Assets)-
BancFirst Corporation	$	462,612		13.53	%	$	136,794		4.00	%		N/A		N/A
BancFirst		438,127		12.84	%		136,447		4.00	%	$	204,671		6.00	%
Tier 1 Capital
(to Total Assets)-
BancFirst Corporation	$	462,612		8.24	%	$	170,193		3.00	%		N/A		N/A
BancFirst		438,127		7.81	%		169,614		3.00	%	$	282,690		5.00	%

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Stock-Based Compensation (Details) (USD $) In Thousands, except Per Share data, unless otherwise specified	6 Months Ended
	Jun. 30, 2012
Summary of the activity under stock option plan
Outstanding at beginning period - Options	1,298,431
Outstanding at beginning period - Wgtd. Avg. Exercise Price	$ 30.14
Options granted
Options granted - Wgtd. Avg. Exercise Price
Options exercised	(42,133)
Options exercised - Wgtd. Avg. Exercise Price	$ 17.13
Options canceled, forfeited, or expired
Options canceled, forfeited, or expired - Wgtd. Avg. Exercise Price
Outstanding at ending period - Options	1,256,298
Outstanding at ending period - Wgtd. Avg. Exercise Price	$ 30.58
Outstanding at ending period - Wgtd. Avg. Remaining Contractual Term, years	8 years 4 months 21 days
Exercisable at ending period - Wgtd. Avg. Remaining Contractual Term, years	5 years 3 months 7 days
Outstanding at ending period - Aggregate Intrinsic Value	$ 14,237
Exercisable at ending period - Aggregate Intrinsic Value	$ 12,223
Exercisable at ending period - Options	699,848
Exercisable at ending period - Wgtd. Avg. Exercise Price	$ 24.44

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Loans and Allowance for Loan Losses (Details 3) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011	Jun. 30, 2011
Age analysis of past due loans segregated by class of loans
30-89 Days Past Due	$ 14,523		$ 12,030
90 Days and Greater	7,175		7,964
Total Past Due Loans	21,698		19,994
Current Loans	3,043,741		2,841,850
Total Loans	3,065,439	3,013,498	2,861,844
Accruing Loans 90 Days or More Past Due	1,403	798	1,166
Non-residential real estate [Member]
Age analysis of past due loans segregated by class of loans
30-89 Days Past Due	2,649		1,720
90 Days and Greater	2,454		573
Total Past Due Loans	5,103		2,293
Current Loans	1,135,948		978,409
Total Loans	1,141,051		980,702
Accruing Loans 90 Days or More Past Due	285		1
Residential real estate [Member]
Age analysis of past due loans segregated by class of loans
30-89 Days Past Due	4,240		2,617
90 Days and Greater	1,288		2,208
Total Past Due Loans	5,528		4,825
Current Loans	715,621		684,344
Total Loans	721,149		689,169
Accruing Loans 90 Days or More Past Due	478		927
Non-consumer non-real estate [Member]
Age analysis of past due loans segregated by class of loans
30-89 Days Past Due	1,285		1,474
90 Days and Greater	244		324
Total Past Due Loans	1,529		1,798
Current Loans	695,887		710,640
Total Loans	697,416		712,438
Accruing Loans 90 Days or More Past Due	16		6
Consumer non-real estate [Member]
Age analysis of past due loans segregated by class of loans
30-89 Days Past Due	2,002		1,822
90 Days and Greater	183		173
Total Past Due Loans	2,185		1,995
Current Loans	198,242		196,583
Total Loans	200,427		198,578
Accruing Loans 90 Days or More Past Due	122		116
Other loans [Member]
Age analysis of past due loans segregated by class of loans
30-89 Days Past Due	1,213		3,489
90 Days and Greater	1,654		3,766
Total Past Due Loans	2,867		7,255
Current Loans	153,117		152,982
Total Loans	155,984		160,237
Accruing Loans 90 Days or More Past Due	102		89
Acquired loans [Member]
Age analysis of past due loans segregated by class of loans
30-89 Days Past Due	3,134		908
90 Days and Greater	1,352		920
Total Past Due Loans	4,486		1,828
Current Loans	144,926		118,892
Total Loans	149,412		120,720
Accruing Loans 90 Days or More Past Due	$ 400		$ 27

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Consolidated Statements of Comprehensive Income (Parenthetical) (Unaudited) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Consolidated Statements of Comprehensive Income [Abstract]
Unrealized gains (losses) on securities, tax	$ 292	$ (1,034)	$ 610	$ (959)
Reclassification adjustment, tax	5	293	728	293
Other comprehensive income, tax	$ 297	$ (741)	$ 1,338	$ (666)

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Securities

6 Months Ended

Jun. 30, 2012

Securities [Abstract]

SECURITIES

(3) SECURITIES

The following table summarizes securities held for investment and securities available for sale:

	June 30, 2012
	(Dollars in thousands)
Held for investment, at cost (market value: $20,104)	$	19,734
Available for sale, at market value		555,300
Total	$	575,034

The following table summarizes the amortized cost and estimated market values of securities held for investment:

	June 30, 2012
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Market Value
	(Dollars in thousands)
U.S. treasury and other Federal agencies	$	901	$	68	$	—	$	969
States and political subdivisions		18,833		302		—		19,135
Total	$	19,734	$	370	$	—	$	20,104

The following table summarizes the amortized cost and estimated market values of securities available for sale:

	June 30, 2012
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Market Value
	(Dollars in thousands)
U.S. Federal agencies (1)	$	455,175	$	4,512	$	(121	)	$	459,566
Mortgage backed securities		23,869		843		(3	)		24,709
States and political subdivisions		57,540		3,008		(10	)		60,538
Other securities (2)		8,011		2,498		(22	)		10,487
Total	$	544,595	$	10,861	$	(156	)	$	555,300

(1) Primarily consists of FHLMC, FNMA, GNMA and mortgage backed securities through U.S. agencies.

(2) Primarily consists of equity securities.

The maturities of securities held for investment and available for sale are summarized in the following table using contractual maturities. Actual maturities may differ from contractual maturities due to obligations that are called or prepaid. For purposes of the maturity table, mortgage-backed securities, which are not due at a single maturity date, have been presented at their contractual maturity.

	June 30, 2012
	Amortized Cost		Estimated Market Value
	(Dollars in thousands)
Held for Investment
Contractual maturity of debt securities:
Within one year	$	1,583	$	1,602
After one year but within five years		14,679		14,909
After five years but within ten years		2,830		2,889
After ten years		642		704
Total	$	19,734	$	20,104
Available for Sale
Contractual maturity of debt securities:
Within one year	$	85,373	$	86,441
After one year but within five years		323,771		326,413
After five years but within ten years		46,982		49,031
After ten years		80,458		82,928
Total debt securities		536,584		544,813
Equity securities		8,011		10,487
Total	$	544,595	$	555,300

The following table is a summary of the Company’s book value of securities that were pledged as collateral for public funds on deposit, repurchase agreements and for other purposes as required or permitted by law:

	June 30, 2012
	(Dollars in thousands)
Book value of pledged securities	$	484,329

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Stockholder's Equity (Details Textual) (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2012	Dec. 31, 2011	Jun. 30, 2011	Jun. 29, 2011
Maximum limit to include the preferred securities in Tier 1 Capital	$ 5,671,711	$ 5,608,825	$ 5,267,445	$ 10,000,000
Stockholders' equity (Textual) [Abstract]
Minimum Tier 1 Ratio to be well capitalized	6.00%
Minimum combined Tier 1 and Tier 2 Ratio to be well capitalized	10.00%
Minimum Leverage Ratio to be well capitalized	5.00%
Maximum [Member]
Maximum limit to include the preferred securities in Tier 1 Capital	$ 10,000,000

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Segment Information (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011	Dec. 31, 2011	Jun. 29, 2011
Results of operations and selected financial information
Net interest income (expense)	$ 40,869	$ 38,006	$ 81,686	$ 75,295
Noninterest income	20,364	19,679	43,801	37,409
Income before taxes	18,422	16,062	40,466	33,896
Maximum limit to include the preferred securities in Tier 1 Capital	5,671,711	5,267,445	5,671,711	5,267,445	5,608,825	10,000,000
Metropolitan Banks [Member]
Results of operations and selected financial information
Net interest income (expense)	13,354	12,311	26,517	24,483
Noninterest income	2,672	2,706	5,353	5,512
Income before taxes	8,220	6,398	16,652	14,880
Maximum limit to include the preferred securities in Tier 1 Capital	1,801,752	1,656,064	1,801,752	1,656,064	1,738,426
Community Banks [Member]
Results of operations and selected financial information
Net interest income (expense)	26,384	24,921	53,015	49,058
Noninterest income	10,721	9,647	20,856	18,685
Income before taxes	14,944	13,616	30,199	26,836
Maximum limit to include the preferred securities in Tier 1 Capital	3,688,931	3,401,037	3,688,931	3,401,037	3,660,239
Other Financial Services [Member]
Results of operations and selected financial information
Net interest income (expense)	1,721	1,759	3,434	3,751
Noninterest income	6,214	6,427	16,078	11,581
Income before taxes	2,011	3,132	8,398	5,632
Maximum limit to include the preferred securities in Tier 1 Capital	130,762	151,220	130,762	151,220	153,872
Executive, Operations and Support [Member]
Results of operations and selected financial information
Net interest income (expense)	(590)	(985)	(1,280)	(1,997)
Noninterest income	13,245	11,616	28,626	24,264
Income before taxes	5,686	3,603	12,219	9,090
Maximum limit to include the preferred securities in Tier 1 Capital	607,662	605,726	607,662	605,726	602,577
Eliminations [Member]
Results of operations and selected financial information
Noninterest income	(12,488)	(10,717)	(27,112)	(22,633)
Income before taxes	(12,439)	(10,687)	(27,002)	(22,542)
Maximum limit to include the preferred securities in Tier 1 Capital	$ (557,396)	$ (546,602)	$ (557,396)	$ (546,602)	$ (546,289)

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Net Income Per Common Share (Tables)

6 Months Ended

Jun. 30, 2012

Net Income Per Common Share [Abstract]

Basic and diluted net income per common share

	Income (Numerator)		Shares (Denominator)		Per Share Amount
	(Dollars in thousands, except per share data)
Three Months Ended June 30, 2012
Basic
Income available to common stockholders	$	11,729		15,155,525	$	0.77
Effect of stock options		—		271,271
Diluted
Income available to common stockholders plus assumed exercises of stock options	$	11,729		15,426,796	$	0.76
Three Months Ended June 30, 2011
Basic
Income available to common stockholders	$	10,115		15,364,738	$	0.66
Effect of stock options		—		287,215
Diluted
Income available to common stockholders plus assumed exercises of stock options	$	10,115		15,651,953	$	0.65
Six Months Ended June 30, 2012
Basic
Income available to common stockholders	$	25,734		15,145,066	$	1.70
Effect of stock options		—		276,608
Diluted
Income available to common stockholders plus assumed exercises of stock options	$	25,734		15,421,674	$	1.67
Six Months Ended June 30, 2011
Basic
Income available to common stockholders	$	21,470		15,362,764	$	1.40
Effect of stock options		—		295,723
Diluted
Income available to common stockholders plus assumed exercises of stock options	$	21,470		15,658,487	$	1.37

Average exercise prices of options excluded from the computation of diluted net income per common share

	Shares		Average Exercise  Price
Three Months Ended June 30, 2012		607,200	$	38.70
Three Months Ended June 30, 2011		537,008	$	38.94
Six Months Ended June 30, 2012		607,200	$	38.70
Six Months Ended June 30, 2011		503,857	$	38.80

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Loans and Allowance for Loan Losses (Details) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011	Jun. 30, 2011
Summary of loans outstanding by category
Total loans	$ 3,065,439	$ 3,013,498	$ 2,861,844
Percent	100.00%	100.00%	100.00%
Loans held for sale (included above)	16,612	12,126	11,258
Commercial and Industrial [Member]
Summary of loans outstanding by category
Total loans	515,456	547,942	551,293
Percent	16.82%	18.19%	19.26%
Oil & gas production & equipment [Member]
Summary of loans outstanding by category
Total loans	125,228	115,786	113,868
Percent	4.08%	3.84%	3.98%
Agriculture [Member]
Summary of loans outstanding by category
Total loans	77,882	86,297	74,221
Percent	2.54%	2.86%	2.59%
Construction [Member]
Summary of loans outstanding by category
Total loans	197,168	207,953	236,660
Percent	6.43%	6.90%	8.27%
Farmland [Member]
Summary of loans outstanding by category
Total loans	111,472	103,923	86,285
Percent	3.64%	3.45%	3.02%
One to four family residences [Member]
Summary of loans outstanding by category
Total loans	674,577	655,134	618,428
Percent	22.01%	21.74%	21.61%
Multifamily residential properties [Member]
Summary of loans outstanding by category
Total loans	46,866	37,734	34,040
Percent	1.53%	1.25%	1.19%
Taxable [Member]
Summary of loans outstanding by category
Total loans	6,520	6,939	7,281
Percent	0.21%	0.23%	0.25%
Tax-exempt [Member]
Summary of loans outstanding by category
Total loans	13,853	17,070	11,920
Percent	0.45%	0.57%	0.42%
Commercial [Member]
Summary of loans outstanding by category
Total loans	1,036,322	960,074	846,684
Percent	33.81%	31.86%	29.59%
Consumer [Member]
Summary of loans outstanding by category
Total loans	239,156	252,331	255,975
Percent	7.80%	8.37%	8.94%
Other (not classified above) [Member]
Summary of loans outstanding by category
Total loans	$ 20,939	$ 22,315	$ 25,189
Percent	0.68%	0.74%	0.88%

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Description of Business and Summary of Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2012

Description of Business and Summary of Significant Accounting Policies [Abstract]

Basis of Presentation

Basis of Presentation

The accompanying consolidated financial statements include the accounts of BancFirst Corporation, Council Oak Partners, LLC, BancFirst Insurance Services, Inc., and BancFirst and its subsidiaries. The principal operating subsidiaries of BancFirst are Council Oak Investment Corporation, Council Oak Real Estate, Inc., BancFirst Agency, Inc., and BancFirst Community Development Corporation. All significant intercompany accounts and transactions have been eliminated. Assets held in a fiduciary or agency capacity are not assets of the Company and, accordingly, are not included in the consolidated financial statements.

The accompanying consolidated financial statements and notes are presented in accordance with the instructions for Form 10-Q. The information contained in the financial statements and footnotes included in BancFirst Corporation’s Annual Report on Form 10-K for the year ended December 31, 2011, should be referred to in connection with these unaudited interim consolidated financial statements.

The unaudited interim consolidated financial statements contained herein reflect all adjustments which are, in the opinion of management, necessary to provide a fair statement of the financial position and results of operations of the Company for the interim periods presented. All such adjustments are of a normal and recurring nature. There have been no significant changes in the accounting policies of the Company since December 31, 2011, the date of the most recent annual report.

Use of Estimates in the Preparation of Financial Statements

Use of Estimates in the Preparation of Financial Statements

The preparation of financial statements in conformity with accounting principles generally accepted in the United States inherently involves the use of estimates and assumptions that affect the amounts reported in the financial statements and the related disclosures. These estimates relate principally to the determination of the allowance for loan losses, income taxes, the fair value of financial instruments and the valuation of intangibles. Such estimates and assumptions may change over time and actual amounts realized may differ from those reported.

Reclassifications

Reclassifications

Certain items in prior financial statements have been reclassified to conform to the current presentation. Such reclassifications had no effect on previously reported cash flows, stockholders’ equity or net income.

Recent Accounting Pronouncements

Recent Accounting Pronouncements

In December 2011, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2011-12, “Comprehensive Income (Topic 220)—Deferral of the Effective Date for Amendments to the Presentation of Reclassifications of Items Out of Accumulated Other Comprehensive Income in Accounting Standards Update No. 2011-05.” ASU 2011-12 defers changes in ASU 2011-05 that relate to the presentation of reclassification adjustments to allow the FASB time to re-deliberate whether to require presentation of such adjustments on the face of the financial statements to show the effects of reclassifications out of accumulated other comprehensive income on the components of net income and other comprehensive income. ASU 2011-12 allows entities to continue to report reclassifications out of accumulated other comprehensive income consistent with the presentation requirements in effect before ASU 2011-05. All other requirements in ASU 2011-05 are not affected by ASU 2011-12. ASU 2011-12 was effective for annual and interim periods beginning after December 15, 2011. Adoption of ASU 2011-12 did not have a significant effect on the Company’s financial statements.

In November 2011, the FASB issued ASU No. 2011-11, “Balance Sheet (Topic 210)—Disclosure about Offsetting Assets and Liabilities.” ASU 2011-11 is an amendment to require an entity to disclose both net and gross information about offsetting assets and liabilities to enable users of its financial statements to understand the effect of those arrangements. Arrangements include derivatives, sale and repurchase agreements and transactions, securities borrowing and securities lending arrangements. ASU 2011-11 is effective for annual and interim periods beginning on January 1, 2013 and is not expected to have a significant effect on the Company’s financial statements.

In September 2011, the FASB issued ASU No. 2011-08, “Intangibles (Topic 350) – Goodwill and Other.” ASU 2011-08 is an update to simplify how entities test for goodwill impairment. The amendments in the update permit the Company to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If these factors determined that the fair value exceeds the carrying amount then the Company is not required to calculate the fair value of the reporting unit. The Company opted to continue to perform quantitative tests for goodwill impairment and not to perform qualitative tests for goodwill impairment under ASU 2011-08 as of September 30, 2011. Adoption of ASU 2011-08 did not have a significant effect on the Company’s financial statements.

In June 2011, the FASB issued ASU No. 2011-05, “Comprehensive Income (Topic 220)—Presentation of Comprehensive Income.” ASU 2011-05 is an update to improve the comparability, consistency, and transparency of financial reporting, to increase the prominence of items reported in other comprehensive income, and to facilitate convergence of GAAP and IFRS. The Company adopted ASU 2011-05 as of September 30, 2011, and the standard was applied retrospectively. The adoption of ASU 2011-05 did not have a significant effect on the Company’s financial statements.

In May 2011, the FASB issued ASU No. 2011-04, “Fair Value Measurement (Topic 820)—Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. Generally Accepted Accounting Principles (“GAAP”) and International Financial Reporting Standards (“IFRS”).” ASU 2011-04 is an update to explain how to measure fair value. This amendment does not require additional fair value measurements and is not intended to establish valuation standards or affect valuation practices outside of financial reporting. This amendment was put forth in order to describe many of the requirements in GAAP for measuring fair value and for disclosing information about fair value measurements consistent with IFRS. ASU 2011-04 was effective for the Company on January 1, 2012, and was applied prospectively. Adoption of ASU 2011-04 did not have a significant effect on the Company’s financial statements.

In April 2011, the FASB issued ASU No. 2011-02, “Receivables (Topic 310)—A Creditor’s Determination of Whether a Restructuring is a Troubled Debt Restructuring.” ASU 2011-02 clarifies which loan modifications constitute troubled debt restructurings and is intended to assist creditors in determining whether a modification of the terms of a receivable meets the criteria to be considered a troubled debt restructuring, both for purposes of recording an impairment loss and for disclosure of troubled debt restructurings. In evaluating whether a restructuring constitutes a troubled debt restructuring, a creditor must separately conclude, under the guidance clarified by ASU 2011-02, that both of the following exist: (a) the restructuring constitutes a concession; and (b) the debtor is experiencing financial difficulties. ASU 2011-02 was effective for the Company on July 1, 2011, and was applied retrospectively to restructurings occurring on or after January 1, 2011. Adoption of ASU 2011-02 did not have a significant effect on the Company’s financial statements.