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.