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 March 31, 2013

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 April 30, 2013 there were 15,230,364 shares of the registrant’s Common Stock outstanding.

PART I – FINANCIAL INFORMATION

Item 1. Financial Statements.

BANCFIRST CORPORATION

CONSOLIDATED BALANCE SHEETS

(Dollars in thousands)

	March 31, 2013			December 31, 2012			March 31, 2012
	(unaudited)			(see Note 1)			(unaudited)
ASSETS
Cash and due from banks	$	130,316		$	213,103		$	143,515
Interest-bearing deposits with banks		1,585,736			1,732,045			1,693,439
Federal funds sold		—			700			—
Securities (fair value: $565,708, $562,815, and $574,230, respectively)		565,490			562,542			573,801
Loans:
Total loans (net of unearned interest)		3,219,967			3,242,427			3,049,376
Allowance for loan losses		(38,664	)		(38,725	)		(37,633	)
Loans, net		3,181,303			3,203,702			3,011,743
Premises and equipment, net		116,729			115,503			114,115
Other real estate owned		9,098			9,227			12,005
Intangible assets, net		11,595			12,083			13,703
Goodwill		44,545			44,545			44,545
Accrued interest receivable		16,294			15,976			17,157
Other assets		112,820			112,824			113,971
Total assets	$	5,773,926		$	6,022,250		$	5,737,994
LIABILITIES AND STOCKHOLDERS’ EQUITY
Deposits:
Noninterest-bearing	$	1,934,427		$	2,016,832		$	1,817,907
Interest-bearing		3,240,085			3,423,998			3,334,949
Total deposits		5,174,512			5,440,830			5,152,856
Short-term borrowings		4,891			4,571			7,323
Accrued interest payable		2,012			2,170			2,473
Long-term borrowings		11,040			9,178			13,403
Other liabilities		26,960			19,130			33,899
Junior subordinated debentures		26,804			26,804			36,083
Total liabilities		5,246,219			5,502,683			5,246,037
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: 15,228,277, 15,242,308 and 15,145,280, respectively		15,228			15,242			15,145
Capital surplus		82,956			82,401			78,420
Retained earnings		423,637			415,607			390,881
Accumulated other comprehensive income, net of income tax of $3,169, $3,400 and $4,043, respectively		5,886			6,317			7,511
Total stockholders’ equity		527,707			519,567			491,957
Total liabilities and stockholders’ equity	$	5,773,926		$	6,022,250		$	5,737,994

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 March 31,
	2013			2012
INTEREST INCOME
Loans, including fees	$	41,174		$	41,960
Securities:
Taxable		1,353			2,407
Tax-exempt		346			424
Federal funds sold		1			1
Interest-bearing deposits with banks		977			973
Total interest income		43,851			45,765
INTEREST EXPENSE
Deposits		3,040			4,249
Short-term borrowings		2			8
Long-term borrowings		62			105
Junior subordinated debentures		491			586
Total interest expense		3,595			4,948
Net interest income		40,256			40,817
Provision for loan losses		300			173
Net interest income after provision for loan losses		39,956			40,644
NONINTEREST INCOME
Trust revenue		1,906			1,707
Service charges on deposits		12,336			10,607
Securities transactions		122			4,032
Income from sales of loans		688			572
Insurance commissions		4,045			2,993
Cash management		1,423			1,939
Gain on sale of other assets		217			20
Other		1,798			1,567
Total noninterest income		22,535			23,437
NONINTEREST EXPENSE
Salaries and employee benefits		25,209			24,800
Occupancy and fixed assets expense, net		2,580			2,446
Depreciation		2,308			2,131
Amortization of intangible assets		443			457
Data processing services		1,185			1,283
Net expense from other real estate owned		122			247
Marketing and business promotion		1,507			1,655
Deposit insurance		743			719
Other		7,847			8,299
Total noninterest expense		41,944			42,037
Income before taxes		20,547			22,044
Income tax expense		(7,175	)		(8,039	)
Net income	$	13,372		$	14,005
NET INCOME PER COMMON SHARE
Basic	$	0.88		$	0.93
Diluted	$	0.86		$	0.91
OTHER COMPREHENSIVE INCOME
Unrealized losses on securities, net of tax of $226 and $318, respectively	$	(421	)	$	(591	)
Reclassification adjustment for gains included in net income, net of tax of $5 and $723, respectively		(10	)		(1,342	)
Other comprehensive loss, net of tax of $231 and $1,041, respectively		(431	)		(1,933	)
Comprehensive income	$	12,941		$	12,072

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

3

BANCFIRST CORPORATION

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY

(Unaudited)

(Dollars in thousands)

	Three Months Ended March 31,
	2013			2012
COMMON STOCK
Issued at beginning of period	$	15,242		$	15,118
Shares issued		9			27
Shares acquired and canceled		(23	)		—
Issued at end of period	$	15,228		$	15,145
CAPITAL SURPLUS
Balance at beginning of period	$	82,401		$	77,462
Common stock issued		158			455
Tax effect of stock options		23			62
Stock-based compensation arrangements		374			441
Balance at end of period	$	82,956		$	78,420
RETAINED EARNINGS
Balance at beginning of period	$	415,607		$	381,017
Net income		13,372			14,005
Dividends on common stock		(4,422	)		(4,141	)
Common stock acquired and canceled		(920	)		—
Balance at end of period	$	423,637		$	390,881
ACCUMULATED OTHER COMPREHENSIVE INCOME
Unrealized gains (losses) on securities:
Balance at beginning of period	$	6,317		$	9,444
Net change		(431	)		(1,933	)
Balance at end of period	$	5,886		$	7,511
Total stockholders’ equity	$	527,707		$	491,957

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

4

BANCFIRST CORPORATION

CONSOLIDATED STATEMENTS OF CASH FLOW

(Unaudited)

(Dollars in thousands)

	Three Months Ended March 31,
	2013			2012
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	13,372		$	14,005
Adjustments to reconcile to net cash provided by operating activities:
Provision for loan losses		300			173
Depreciation and amortization		2,751			2,588
Net amortization of securities premiums and discounts		417			412
Realized securities gains		(122	)		(4,032	)
Gain on sales of loans		(688	)		(572	)
Cash receipts from the sale of loans originated for sale		54,540			45,767
Cash disbursements for loans originated for sale		(50,479	)		(48,734	)
Deferred income tax benefit		(96	)		(20	)
Gains on other assets		(99	)		(30	)
(Increase) decrease in interest receivable		(318	)		1,505
Decrease in interest payable		(158	)		(237	)
Amortization of stock-based compensation arrangements		374			441
Other, net		3,819			3,619
Net cash provided by operating activities		23,613			14,885
INVESTING ACTIVITIES
Net decrease in Federal funds sold		700			400
Purchases of securities:
Available for sale		(20,565	)		(9,785	)
Maturities of securities:
Held for investment		315			1,099
Available for sale		15,317			44,034
Proceeds from sales and calls of securities:
Available for sale		1,027			6,470
Purchases of loans		(26,597	)		(542	)
Proceeds from sales of loans		27,426			11,485
Net other decrease/(increase) in loans		17,252			(44,317	)
Purchases of premises, equipment and computer software		(3,683	)		(5,005	)
Proceeds from the sale of other assets		988			4,937
Net cash provided by investing activities		12,180			8,776
FINANCING ACTIVITIES
Net (decrease)/increase in demand, transaction and savings deposits		(239,034	)		148,109
Net decrease in time deposits		(27,284	)		(32,988	)
Net in increase/(decrease) in short-term borrowings		320			(951	)
Issuance/(paydown) of long-term borrowings		1,862			(5,073	)
Issuance of common stock		190			544
Common stock acquired		(943	)		—
Cash dividends paid		—			(4,081	)
Net cash (used in) provided by financing activities		(264,889	)		105,560
Net (decrease) increase in cash, due from banks and interest-bearing deposits		(229,096	)		129,221
Cash, due from banks and interest-bearing deposits at the beginning of the period		1,945,148			1,707,733
Cash, due from banks and interest-bearing deposits at the end of the period	$	1,716,052		$	1,836,954
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid during the period for interest	$	3,753		$	5,185

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, 2012.

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, 2012, 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, 2012, 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 February 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2013-02, “Comprehensive Income (Topic 220).” ASU 2013-02 requires an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. An entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income but only if the amount reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. The new standard was effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2012. Adoption of ASU 2013-02 did not have a significant effect on the Company’s financial statements.

In July 2012, the FASB issued ASU No. 2012-02, “Intangibles (Topic 350)—Goodwill and Other.” ASU 2012-02 simplifies the impairment test for indefinite-lived intangible assets other than goodwill. The new guidance gives the option to first assess qualitative factors to determine if it is more likely than not that the fair value of an

6

indefinite-lived intangible asset is less than its carrying amount as a basis for determining whether it is necessary to perform a quantitative valuation test. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning on or after September 15, 2012. The Company opted to continue to perform quantitative tests for indefinite-lived intangible assets other than goodwill and not to perform qualitative tests for impairment under ASU 2012-02 as of September 15, 2012. Adoption of ASU 2012-02 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 was effective for annual and interim periods beginning on January 1, 2013. Adoption of ASU 2011-11 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. The gain was included in first quarter 2012 earnings.

(3) SECURITIES

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

	March 31, 2013
	(Dollars in thousands)
Held for investment, at cost (fair value: $16,317)	$	16,099
Available for sale, at fair value		549,391
Total	$	565,490

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

	March 31, 2013
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
	(Dollars in thousands)
Mortgage backed securities (1)	$	740	$	56	$	—		$	796
States and political subdivisions		15,359		170		(8	)		15,521
Total	$	16,099	$	226	$	(8	)	$	16,317

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

	March 31, 2013
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
	(Dollars in thousands)
U.S. treasury and other Federal agencies	$	459,301	$	3,233	$	(155	)	$	462,379
Mortgage backed securities (1)		17,212		764		(2	)		17,974
States and political subdivisions		52,858		2,646		(11	)		55,493
Other securities (2)		10,965		2,580		—			13,545
Total	$	540,336	$	9,223	$	(168	)	$	549,391

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

(2) Primarily consists of equity securities.

7

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.

	March 31, 2013
	Amortized Cost		Estimated Fair Value
	(Dollars in thousands)
Held for Investment
Contractual maturity of debt securities:
Within one year	$	4,590	$	4,627
After one year but within five years		9,898		9,999
After five years but within ten years		1,179		1,212
After ten years		432		479
Total	$	16,099	$	16,317
Available for Sale
Contractual maturity of debt securities:
Within one year	$	191,802	$	192,015
After one year but within five years		219,323		221,790
After five years but within ten years		34,426		35,851
After ten years		87,206		89,611
Total debt securities		532,757		539,267
Equity securities		7,579		10,124
Total	$	540,336	$	549,391

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:

	March 31, 2013
	(Dollars in thousands)
Book value of pledged securities	$	487,367

8

(4) LOANS AND ALLOWANCE FOR LOAN LOSSES

The following is a schedule of loans outstanding by category:

	March 31, 2013					December 31, 2012					March 31, 2012
	Amount		Percent			Amount		Percent			Amount		Percent
	(Dollars in thousands)
Commercial and industrial	$	518,438		16.10	%	$	559,274		17.25	%	$	526,028		17.25	%
Oil & gas production & equipment		154,392		4.79			154,380		4.76			129,710		4.25
Agriculture		96,094		2.98			93,274		2.88			90,659		2.97
State and political subdivisions:
Taxable		9,272		0.29			9,412		0.29			7,332		0.24
Tax-exempt		13,034		0.41			13,194		0.41			15,810		0.52
Real estate:
Construction		231,770		7.20			226,102		6.97			200,609		6.58
Farmland		124,347		3.86			125,033		3.86			107,751		3.53
One to four family residences		680,129		21.12			669,230		20.64			660,725		21.67
Multifamily residential properties		47,506		1.48			50,721		1.56			40,164		1.32
Commercial		1,084,864		33.69			1,068,445		32.95			1,004,596		32.94
Consumer		240,600		7.47			253,002		7.80			244,171		8.01
Other (not classified above)		19,521		0.61			20,360		0.63			21,821		0.72
Total loans	$	3,219,967		100.00	%	$	3,242,427		100.00	%	$	3,049,376		100.00	%
Loans held for sale (included above)	$	10,287				$	13,661				$	15,585

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 (1) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2012.

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 $301,000 for the three months ended March 31, 2013 and approximately $338,000 for the three months ended March 31, 2012.

At March 31, 2013, troubled debt restructurings were primarily due to the principal deferral restructuring from a customer whose 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.

9

The following table is a summary of nonperforming and restructured assets:

	March 31,			December 31,			March 31,
	2013			2012			2012
	(Dollars in thousands)
Past due 90 days or more and still accruing	$	542		$	537		$	1,150
Nonaccrual		20,933			20,549			20,721
Restructured		17,792			17,866			18,483
Total nonperforming and restructured loans		39,267			38,952			40,354
Other real estate owned and repossessed assets		9,424			9,566			12,408
Total nonperforming and restructured assets	$	48,691		$	48,518		$	52,762
Nonperforming and restructured loans to total loans		1.22	%		1.20	%		1.32	%
Nonperforming and restructured assets to total assets		0.84	%		0.81	%		0.92	%

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.

	March 31, 2013		March 31, 2012
	(Dollars in thousands)
Non-residential real estate	$	9,666	$	9,768
Residential real estate		4,335		4,754
Non-consumer non-real estate		1,449		1,425
Consumer non-real estate		187		143
Other loans		3,052		1,464
Acquired loans		2,244		3,167
Total	$	20,933	$	20,721

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 March 31, 2013
Non-residential real estate	$	3,293	$	1,945	$	5,238	$	1,238,804	$	1,244,042	$	18
Residential real estate		4,438		868		5,306		768,487		773,793		268
Non-consumer non-real estate		2,100		214		2,314		748,287		750,601		74
Consumer non-real estate		1,994		184		2,178		209,142		211,320		126
Other loans		2,152		1,406		3,558		140,468		144,026		—
Acquired loans		1,993		328		2,321		93,864		96,185		56
Total	$	15,970	$	4,945	$	20,915	$	3,199,052	$	3,219,967	$	542
As of March 31, 2012
Non-residential real estate	$	3,924	$	849	$	4,773	$	1,097,141	$	1,101,914	$	192
Residential real estate		3,218		1,915		5,133		690,937		696,070		436
Non-consumer non-real estate		1,311		633		1,944		723,144		725,088		132
Consumer non-real estate		1,767		220		1,987		198,221		200,208		195
Other loans		1,414		1,352		2,766		160,722		163,488		59
Acquired loans		2,707		934		3,641		158,967		162,608		136
Total	$	14,341	$	5,903	$	20,244	$	3,029,132	$	3,049,376	$	1,150

10

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.

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 March 31, 2013
Non-residential real estate	$	27,949	$	26,417	$	2,185	$	26,814
Residential real estate		6,079		5,472		1,337		4,847
Non-consumer non-real estate		1,899		1,565		452		2,249
Consumer non-real estate		441		421		96		408
Other loans		3,736		3,094		267		2,648
Acquired loans		10,311		8,261		41		8,893
Total	$	50,415	$	45,230	$	4,378	$	45,859
As of March 31, 2012
Non-residential real estate	$	28,420	$	27,558	$	2,235	$	22,887
Residential real estate		6,185		5,695		1,432		5,557
Non-consumer non-real estate		2,062		1,748		605		1,664
Consumer non-real estate		567		477		65		452
Other loans		1,880		1,524		320		2,666
Acquired loans		16,850		14,173		275		15,780
Total	$	55,964	$	51,175	$	4,932	$	49,006

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 disclosed in Footnote (5) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2012.

11

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 March 31, 2013
Non-residential real estate	$	1,043,069	$	165,295	$	25,994	$	9,684	$	—	$	1,244,042
Residential real estate		670,352		84,644		14,140		4,657		—		773,793
Non-consumer non-real estate		647,162		97,110		4,800		1,529		—		750,601
Consumer non-real estate		198,107		10,912		1,923		374		4		211,320
Other loans		139,696		2,304		1,103		923		—		144,026
Acquired loans		74,939		14,936		4,009		2,301		—		96,185
Total	$	2,773,325	$	375,201	$	51,969	$	19,468	$	4	$	3,219,967
As of March 31, 2012
Non-residential real estate.	$	951,016	$	112,408	$	28,721	$	9,769	$	—	$	1,101,914
Residential real estate		591,818		83,250		15,579		5,423		—		696,070
Non-consumer non-real estate		636,582		79,548		7,480		1,478		—		725,088
Consumer non-real estate		187,999		9,690		2,132		387		—		200,208
Other loans		158,729		2,775		1,725		259		—		163,488
Acquired loans		119,165		31,319		8,901		3,223		—		162,608
Total	$	2,645,309	$	318,990	$	64,538	$	20,539	$	—	$	3,049,376

The allowance for loan losses methodology is disclosed in Footnote (5) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2012.

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 March 31, 2013
Allowance for loan losses:
Balance at December 31, 2012	$	14,969		$	9,815		$	9,385		$	2,451		$	1,885		$	220		$	38,725
Charge-offs		(18	)		(151	)		(36	)		(140	)		(139	)		(49	)		(533	)
Recoveries		19			13			31			76			—			33			172
Net charge-offs		1			(138	)		(5	)		(64	)		(139	)		(16	)		(361	)
Provisions charged to operations		361			244			(398	)		(3	)		76			20			300
Balance at March 31, 2013	$	15,331		$	9,921		$	8,982		$	2,384		$	1,822		$	224		$	38,664
Allowance for loan losses-ending balances:
Individually evaluated for impairment	$	2,694		$	2,123		$	1,211		$	290		$	199		$	—		$	6,517
Collectively evaluated for impairment		12,637			7,798			7,771			2,094			1,623			224			32,147
Balance at March 31, 2013	$	15,331		$	9,921		$	8,982		$	2,384		$	1,822		$	224		$	38,664
Loans-Ending balances:
Individually evaluated for impairment	$	35,678		$	18,797		$	6,329		$	2,301		$	246		$	—		$	63,351
Collectively evaluated for impairment		1,208,364			754,996			744,272			209,019			143,780			89,875			3,150,306
Loans acquired with deteriorated credit quality		—			—			—			—			—			6,310			6,310
Balance at March 31, 2013	$	1,244,042		$	773,793		$	750,601		$	211,320		$	144,026		$	96,185		$	3,219,967

12

Three Months Ended March 31, 2012
Allowance for loan losses:
Balance at December 31, 2011	$	13,948		$	9,764		$	9,156		$	2,315		$	1,886		$	587		$	37,656
Charge-offs		(121	)		(36	)		(17	)		(114	)		(180	)		(64	)		(532	)
Recoveries		37			96			98			84			19			2			336
Net charge-offs		(84	)		60			81			(30	)		(161	)		(62	)		(196	)
Provisions charged to operations		245			(62	)		(39	)		(2	)		125			(94	)		173
Balance at March 31, 2012	$	14,109		$	9,762		$	9,198		$	2,283		$	1,850		$	431		$	37,633
Allowance for loan losses-ending balances:
Individually evaluated for impairment	$	3,085		$	2,692		$	1,741		$	300		$	183		$	—		$	8,001
Collectively evaluated for impairment		11,024			7,070			7,457			1,983			1,667			431			29,632
Balance at March 31, 2012	$	14,109		$	9,762		$	9,198		$	2,283		$	1,850		$	431		$	37,633
Loans-Ending balances:
Individually evaluated for impairment	$	38,489		$	21,002		$	8,958		$	2,519		$	147		$	—		$	71,115
Collectively evaluated for impairment		1,063,425			675,068			716,130			197,689			163,341			150,484			2,966,137
Loans acquired with deteriorated credit quality		—			—			—			—			—			12,124			12,124
Balance at March 31, 2012	$	1,101,914		$	696,070		$	725,088		$	200,208		$	163,488		$	162,608		$	3,049,376

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:

	Three Months Ended March  31,
	2013		2012
	(Dollars in thousands)
Other real estate owned	$	436	$	659
Repossessed assets		209		180
Total	$	645	$	839

(5) INTANGIBLE ASSETS

The following is a summary of intangible assets:

	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
	(Dollars in thousands)
As of March 31, 2013
Core deposit intangibles	$	13,473	$	(6,171	)	$	7,302
Customer relationship intangibles		5,657		(2,073	)		3,584
Mortgage servicing intangibles		823		(114	)		709
Total	$	19,953	$	(8,358	)	$	11,595

Additional information for intangible assets can be found in Footnote (7) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2012.

13

(6) 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 March 31, 2013, 15,860 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 March 31, 2013 will become exercisable through the year 2019. 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.

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 March 31, 2013, 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 March 31, 2013 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)
Three Months Ended March 31, 2013
Outstanding at December 31, 2012		1,216,981		$	31.98
Options granted		—			—
Options exercised		(8,250	)		17.22
Options cancelled, forfeited or expired		—			—
Outstanding at March 31, 2013		1,208,731			32.08		8.43	Yrs	$	11,632
Exercisable at March 31, 2013		626,031			26.20		5.01	Yrs	$	9,703

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 March 31,
	2013		2012
	(Dollars in thousands)
Total intrinsic value of options exercised	$	348	$	1,132
Cash received from options exercised		142		483
Tax benefit realized from options exercised		135		438

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.

14

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

	Three Months Ended March 31,
	2013		2012
	(Dollars in thousands)
Stock-based compensation expense	$	374	$	441
Tax		145		171
Stock-based compensation expense, net of tax	$	229	$	270

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:

	March 31, 2013
	(Dollars in thousands)
Fair value of stock options	$	5,103

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

	Three Months Ended March  31,
	2013			2012
Risk-free interest rate		1.95	%		1.95	%
Dividend yield		2.00	%		2.00	%
Stock price volatility		20.21	%		38.75	%
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.

(7) 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 March 31,
	2013		2012
Number of shares repurchased		23,050		—
Average price of shares repurchased	$	40.92		—
Shares remaining to be repurchased		211,914		241,751

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 March 31, 2013, 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:

15

	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 March 31, 2013:
Total Capital
(to Risk Weighted Assets)-
BancFirst Corporation	$	531,048		14.75	%	$	288,098		8.00	%		N/A		N/A
BancFirst		502,497		13.98	%		287,481		8.00	%	$	359,351		10.00	%
Tier 1 Capital
(to Risk Weighted Assets)-
BancFirst Corporation	$	492,384		13.67	%	$	144,049		4.00	%		N/A		N/A
BancFirst		463,833		12.91	%		143,740		4.00	%	$	215,610		6.00	%
Tier 1 Capital
(to Total Assets)-
BancFirst Corporation	$	492,384		8.61	%	$	173,218		3.00	%		N/A		N/A
BancFirst		463,833		8.12	%		172,641		3.00	%	$	287,735		5.00	%

As of March 31, 2013, 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.

(8) 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 March 31, 2013
Basic
Income available to common stockholders	$	13,372		15,238,701	$	0.88
Effect of stock options		—		243,816
Diluted
Income available to common stockholders plus assumed exercises of stock options	$	13,372		15,482,517	$	0.86
Three Months Ended March 31, 2012
Basic
Income available to common stockholders	$	14,005		15,134,606	$	0.93
Effect of stock options		—		280,905
Diluted
Income available to common stockholders plus assumed exercises of stock options	$	14,005		15,415,511	$	0.91

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:

16

	Shares		Average Exercise Price
Three Months Ended March 31, 2013		534,000	$	39.44
Three Months Ended March 31, 2012		607,200	$	38.70

(9) 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 Accounting Standards Codification 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 state 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.

17

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. Mortgage Servicing Intangibles are amortized based on current prepayment assumptions and are adjusted to fair value quarterly, if impaired. Fair value is estimated 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 March 31, 2013 and 2012, 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)
March 31, 2013
Securities available for sale	$	20,304	$	518,963	$	10,124	$	549,391
Derivative assets		—		3,424		—		3,424
Derivative liabilities		—		1,658		—		1,658
Loans held for sale		—		10,287		—		10,287
Mortgage servicing intangibles		—		—		709		709
March 31, 2012
Securities available for sale	$	—	$	543,069	$	9,373	$	552,442
Derivative assets		—		10,578		—		10,578
Derivative liabilities		—		8,576		—		8,576
Loans held for sale		—		15,585		—		15,585
Mortgage servicing intangibles		—		—		1,004		1,004

The changes in Level 3 assets measured at estimated fair value on a recurring basis during the three months ended March 31, 2013 and 2012 were as follows:

	Three Months Ended March 31,
	2013			2012
	(Dollars in thousands)
Balance at the beginning of the year	$	10,779		$	13,225
Purchases, issuances and settlements		116			173
Sales		(15	)		(4,928	)
(Losses) gains included in earnings		(30	)		3,973
Total unrealized losses		(17	)		(2,066	)
Balance at the end of the period	$	10,833		$	10,377

18

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 three months ended March 31, 2013 and 2012, 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)
Three Months Ended March 31, 2013
Impaired loans (less specific allowance)		—		—	$	40,852	$	40,852	$	—
Foreclosed assets		—		—	$	326	$	326	$	13
Other real estate owned		—		—	$	9,098	$	9,098	$	(87	)
Three Months Ended March 31, 2012
Impaired loans (less specific allowance)		—		—	$	46,243	$	46,243	$	—
Foreclosed assets		—		—	$	403	$	403	$	(1	)
Other real estate owned		—		—	$	12,005	$	12,005	$	(154	)

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.

19

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:

	March 31,
	2013					2012
	Carrying Amount			Fair Value		Carrying Amount			Fair Value
	(Dollars in thousands)
FINANCIAL ASSETS
Cash and cash equivalents	$	1,716,052		$	1,716,052	$	1,836,954		$	1,836,954
Securities held for investment		16,099			16,317		21,359			21,788
Loans:
Loans (net of unearned interest)		3,219,967					3,049,376
Allowance for loan losses		(38,664	)				(37,633	)
Loans, net		3,181,303			3,240,479		3,011,743			3,047,715
FINANCIAL LIABILITIES
Deposits		5,174,512			5,200,273		5,152,856			5,186,324
Short-term borrowings		4,891			4,891		7,323			7,323
Long-term borrowings		11,040			11,010		13,403			13,440
Junior subordinated debentures		26,804			31,093		36,083			39,289
OFF-BALANCE SHEET FINANCIAL INSTRUMENTS
Loan commitments					1,556					1,197
Letters of credit					469					463

20

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 (excluding mortgage service rights, which are valued quarterly) 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 March 31, 2013 or 2012.

(10) 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:

	March 31, 2013
Oil and Natural Gas Swaps and Options	Notional Units	Notional Amount			Estimated Fair  Value
	(Notional amounts and dollars in thousands)
Oil
Derivative assets	Barrels		877		$	2,174
Derivative liabilities	Barrels		(877	)		(1,215	)
Natural Gas
Derivative assets	MMBTUs		4,653			1,250
Derivative liabilities	MMBTUs		(4,653	)		(443	)
Total Fair Value	Included in
Derivative assets	Other assets					3,424
Derivative liabilities	Other liabilities					1,658

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 March 31,
	2013		2012
	(Dollars in thousands)
Derivative income	$	108	$	209

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:

	March 31, 2013
	(Dollars in thousands)
Credit exposure	$	840

21

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.

(11) 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 March 31, 2013
Net interest income (expense)	$	14,011	$	25,144	$	1,565	$	(464	)	$	—		$	40,256
Noninterest income		3,190		11,545		6,902		14,749			(13,851	)		22,535
Income before taxes		8,937		14,077		3,237		8,094			(13,798	)		20,547
Three Months Ended March 31, 2012
Net interest income (expense)	$	13,163	$	26,631	$	1,713	$	(690	)	$	—		$	40,817
Noninterest income		2,681		10,135		9,864		15,381			(14,624	)		23,437
Income before taxes		8,432		15,255		6,387		6,533			(14,563	)		22,044
Total Assets:
March 31, 2013	$	1,926,511	$	3,627,011	$	109,887	$	690,318		$	(579,801	)	$	5,773,926
December 31, 2012	$	1,996,539	$	3,801,653	$	186,473	$	602,342		$	(564,757	)	$	6,022,250
March 31, 2012	$	1,809,836	$	3,760,533	$	139,114	$	590,597		$	(562,086	)	$	5,737,994

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, 2012 consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012 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 for the first quarter of 2013 was $13.4 million compared to $14.0 million for the first quarter of 2012. Diluted net income per share was $0.86 and $0.91 for the first quarter of 2013 and 2012, respectively. Included in the 2012 quarter’s net income was a $4.5 million securities gain that was partially offset by merger related expenses and other non-operating costs totaling $2.5 million. Excluding these items, the Company’s net income for the first quarter of 2012 would have been approximately $12.7 million, or approximately $0.83 diluted net income per share.

Net interest income for the first quarter of 2013 was $40.3 million compared to $40.8 million for the first quarter of 2012. The Company’s net interest margin for the quarter was 3.08% compared to 3.18% a year ago, as interest rates have remained at historically low levels. The Company’s provision for loan loss for the first quarter of 2013 was $300,000 compared to $173,000 for the first quarter of 2012. Net charge-offs for the quarter were only 0.01% of average loans, which was the same as for the first quarter of 2012. Noninterest income for the quarter totaled $22.5 million, compared to $23.4 million last year. Noninterest expense for the quarter totaled $41.9 million compared to $42.0 million last year.

At March 31, 2013, the Company’s total assets were $5.8 billion, down $248.3 million, or 4.1%, from $6.0 billion at December 31, 2012. Loans totaled $3.2 billion, down $22.5 million from December 31, 2012. Deposits totaled $5.2 billion, down $266.3 million due to a temporary influx of deposits at year end 2012. Stockholders’ equity was $527.7 million, an increase of $8.1 million, or 1.6%, over December 31, 2012.

Asset quality remained strong and was little changed from the previous quarters. Nonperforming and restructured assets were 0.84% of total assets compared to 0.81% at December 31, 2012. The allowance to total loans was 1.20% compared to 1.19% at year end 2012.

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 (11) of the Notes to Consolidated Financial Statements for disclosures regarding business segments.

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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 March 31,
	2013			2012
Income Statement Data
Net interest income	$	40,256		$	40,817
Provision for loan losses		300			173
Securities transactions		122			4,032
Total noninterest income		22,535			23,437
Salaries and employee benefits		25,209			24,800
Total noninterest expense		41,944			42,037
Net income		13,372			14,005
Per Common Share Data
Net income – basic	$	0.88		$	0.93
Net income – diluted		0.86			0.91
Cash dividends		0.29			0.27
Performance Data
Return on average assets		0.94	%		1.00	%
Return on average stockholders’ equity		10.31			11.45
Cash dividend payout ratio		33.05			29.03
Net interest spread		2.91			2.98
Net interest margin		3.08			3.18
Efficiency ratio		66.80			65.42
Net charge-offs to average loans		0.01			0.01

Net Interest Income

For the three months ended March 31, 2013, net interest income, which is the Company’s principal source of operating revenue, was $40.3 million compared to $40.8 million for the three months ended March 31, 2012. 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 March 31, 2013 compared to the three months ended March 31, 2012, as shown in the preceding table, which was due to continued low interest rates and the maturity or pay down of higher-yielding earning assets. If interest rates and/or loan volume do not increase, management expects continued compression of its net interest margin for the remainder of 2013 as higher yielding loans and securities mature and are replaced at current market rates.

Provision for Loan Losses

For the three months ended March 31, 2013, the Company’s provision for loan losses was $300,000, compared to $173,000 for the same period a year ago. 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 $361,000 for the first quarter of 2013 compared to $196,000 for the first quarter of 2012. The rate of net charge-offs to average total loans is presented in the preceding table.

Noninterest Income

Noninterest income totaled $22.5 million for the three months ended March 31, 2013 compared to $23.4 million for the three months ended March 31, 2012. The first quarter of 2012 included a $4.5 million pretax securities gain from the sale of an investment by the Company’s Small Business Investment Corporation, Council Oak Investment Corporation, a wholly-owned subsidiary of BancFirst.

24

The Company had income from debit card usage totaling $4.1 million during the three months ended March 31, 2013 and 2012. 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 revenue from debit card usage reported in future periods.

Noninterest Expense

For the three months ended March 31, 2013, noninterest expense totaled $41.9 million compared to $42.0 million for the three months ended March 31, 2012. Included in the 2012 quarter’s noninterest expense is $1.6 million in merger related costs and approximately $500,000 of expenses related to the sale of an investment by the Company’s Small Business Investment Corporation, Council Oak Investment Corporation, a wholly-owned subsidiary of BancFirst.

Income Taxes

The Company’s effective tax rate on income before taxes was 34.9% for the first quarter of 2013 compared to 36.5% for the first quarter of 2012 due primarily to new tax credits utilized.

FINANCIAL POSITION

BANCFIRST CORPORATION

SELECTED CONSOLIDATED FINANCIAL DATA

(Dollars in thousands, except per share data)

	March 31,			December 31,			March 31,
	2013			2012			2012
	(unaudited)						(unaudited)
Balance Sheet Data
Total assets	$	5,773,926		$	6,022,250		$	5,737,994
Total loans		3,219,967			3,242,427			3,049,376
Allowance for loan losses		38,664			38,725			37,633
Securities		565,490			562,542			573,801
Deposits		5,174,512			5,440,830			5,152,856
Stockholders’ equity		527,707			519,567			491,957
Book value per share		34.65			34.09			32.48
Tangible book value per share		30.97			30.37			28.64
Average loans to deposits (year-to-date)		62.27	%		60.27	%		59.99	%
Average earning assets to total assets (year-to-date)		92.79			92.73			92.51
Average stockholders’ equity to average assets (year-to-date)		9.14			8.79			8.73
Asset Quality Ratios
Nonperforming and restructured loans to total loans		1.22	%		1.20	%		1.32	%
Nonperforming and restructured assets to total assets		0.84			0.81			0.92
Allowance for loan losses to total loans		1.20			1.19			1.23
Allowance for loan losses to nonperforming and restructured loans		98.47			99.42			93.26

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 March 31, 2013 decreased $229.8 million from December 31, 2012 and $120.9 million from March 31, 2012. The higher level at year-end 2012 was due primarily to funds provided by the temporary influx of deposits at year-end 2012. Federal funds sold consist of overnight investments of excess funds with other financial institutions. Due to the Federal Reserve Bank’s intervention into the funds market that has resulted in 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.

25

Securities

At March 31, 2013, total securities increased $2.9 million compared to December 31, 2012 and decreased $8.3 million compared to March 31, 2012. The size of the Company’s securities portfolio is determined by the Company’s liquidity and asset/liability management. The net unrealized gain on securities available for sale, before taxes, was $9.1 million at March 31, 2013, compared to an unrealized gain of $9.7 million at December 31, 2012 and $11.6 million at March 31, 2012. These unrealized gains are included in the Company’s stockholders’ equity as accumulated other comprehensive income, net of income tax, in the amounts of $5.9 million, $6.3 million and $7.5 million, respectively.

Loans (Including Acquired Loans)

At March 31, 2013, total loans were down $22.5 million from December 31, 2012 and up $170.6 million from March 31, 2012 due primarily to growth in the fourth quarter of 2012.

Allowance for Loan Losses/Fair Value Adjustments on Acquired Loans

At March 31, 2013, the allowance for loan losses represented 1.20% of total loans, compared to 1.19% at December 31, 2012 and 1.23% at March 31, 2012. 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 value adjustment on acquired loans consists of an interest rate component to adjust the effective rates on the loans to market rates and a credit component to adjust for estimated credit exposures in the acquired loans. The credit component of the adjustment was $2.7 million at March 31, 2013, $2.8 million at December 31, 2012 and $3.8 million at March 31, 2012, while the acquired loans outstanding were $96.2 million, $108.5 million and $162.6 million, respectively. The decrease from the first quarter of 2012 was due t improved credit quality of the loans, loan payoffs and the early settlement of a loan escrow agreement related to one of the bank acquisitions.

Nonperforming and Restructured Assets

Nonperforming and restructured assets totaled $48.7 million at March 31, 2013 compared to $48.5 million at December 31, 2012 and $52.8 million at March 31, 2012. The Company’s level of nonperforming and restructured assets has continued to be relatively low, as shown in the preceding table.

Nonaccrual loans totaled $20.9 million at March 31, 2013 compared to $20.5 million at the end of 2012. The Company’s nonaccrual loans are primarily commercial and real estate loans. Nonaccrual loans negatively impact the Company’s net interest margin. A loan is placed on nonaccrual status when, in the opinion of management, the future collectability of interest or principal or both is in serious doubt. Interest income is recognized on certain of these loans on a cash basis if the full collection of the remaining principal balance is reasonably expected. Otherwise, interest income is not recognized until the principal balance is fully collected. Total interest income for the quarter, which was not accrued on nonaccrual loans outstanding was approximately $301,000 at March 31, 2013 and $338,000 at March 31, 2012. Only a small amount of this interest is expected to be ultimately collected.

Other real estate owned and repossessed assets totaled $9.4 million at March 31, 2013 compared to $9.6 million at December 31, 2012 and $12.4 million at March 31, 2012. The decrease in 2012 was due in part to the sale of one nonperforming commercial real estate property valued at $3.5 million.

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 $3.3 million of these loans at March 31, 2013 compared to $5.3 million at December 31, 2012 and $7.3 million at March 31, 2012. 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.

26

Liquidity and Funding

Deposits

At March 31, 2013, total deposits decreased $266.3 million compared to December 31, 2012 and increased $21.7 million compared to March 31, 2012. The decrease from December 31, 2012 was due to a temporary influx of deposits at year end 2012. The Company’s core deposits provide it with a stable, low-cost funding source. The Company’s core deposits as a percentage of total deposits were 92.8% at March 31, 2013and December 31, 2012 compared to 92.3% at March 31, 2012. Noninterest-bearing deposits to total deposits were 37.4% at March 31, 2013, compared to 37.1% at December 31, 2012 and 35.3% at March 31, 2012.

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. Short-term borrowings were $4.9 million at March 31, 2013 compared to $4.6 million at December 31, 2012 and $7.3 million at March 31, 2012.

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 $535.9 million, are pledged as collateral for the borrowings under the line of credit. As of March 31, 2013, the Company had approximately $11.0 million in advances outstanding compared to $9.2 million at December 31, 2012 and $13.4 million at March 31, 2012. The advances mature at varying dates through 2014.

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, 2012.

Capital Resources

Stockholders’ equity totaled $527.7 million at March 31, 2013 compared to $519.6 million at December 31, 2012 and $492.0 million at March 31, 2012. In addition to net income of $13.4 million, other changes in stockholders’ equity during the three months ended March 31, 2013 included $190,000 related to stock option exercises and $374,000 related to stock-based compensation, that were partially offset by $4.4 million in dividends, $943,000 in common stock acquired and canceled, and a $431,000 decrease in other comprehensive income. The Company’s average stockholders’ equity to average assets are presented above. The Company’s leverage ratio and total risk-based capital ratio were 8.61% and 14.75%, respectively, at March 31, 2013, well in excess of the regulatory minimums.

See Note (7) 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, 2012.

27

BANCFIRST CORPORATION

CONSOLIDATED AVERAGE BALANCE SHEETS AND INTEREST MARGIN ANALYSIS

(Unaudited)

Taxable Equivalent Basis (Dollars in thousands)

	Three Months Ended March 31,
	2013								2012
	Average Balance			Interest Income/ Expense		Average Yield/ Rate			Average Balance			Interest Income/ Expense		Average Yield/ Rate
ASSETS
Earning assets:
Loans (1)	$	3,219,496		$	41,255		5.20	%	$	3,026,473		$	42,062		5.57	%
Securities – taxable		524,384			1,353		1.05			539,563			2,408		1.79
Securities – tax exempt		45,006			532		4.80			53,277			652		4.91
Interest-bearing deposits w/ banks & FFS		1,551,233			977		0.26			1,580,975			974		0.25
Total earning assets		5,340,119			44,117		3.35			5,200,288			46,096		3.56
Nonearning assets:
Cash and due from banks		144,940								145,970
Interest receivable and other assets		308,532								312,429
Allowance for loan losses		(38,646	)							(37,663	)
Total nonearning assets		414,826								420,736
Total assets	$	5,754,945							$	5,621,024
LIABILITIES AND STOCKHOLDERS’ EQUITY
Interest-bearing liabilities:
Transaction deposits	$	675,854		$	167		0.10	%	$	741,786		$	274		0.15	%
Savings deposits		1,780,675			1,080		0.25			1,706,102			1,543		0.36
Time deposits		826,131			1,793		0.88			892,134			2,432		1.09
Short-term borrowings		4,770			2		0.14			7,891			8		0.41
Long-term borrowings		8,569			62		2.91			14,451			105		2.91
Junior subordinated debentures		26,804			491		7.43			36,083			586		6.51
Total interest-bearing liabilities		3,322,803			3,595		0.44			3,398,447			4,948		0.58
Interest-free funds:
Noninterest-bearing deposits		1,887,883								1,705,026
Interest payable and other liabilities		18,489								26,789
Stockholders’ equity		525,770								490,762
Total interest free funds		2,432,142								2,222,577
Total liabilities and stockholders’ equity	$	5,754,945							$	5,621,024
Net interest income				$	40,522							$	41,148
Net interest spread							2.91	%							2.98	%
Effect of interest free funds							0.17	%							0.20	%
Net interest margin							3.08	%							3.18	%

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

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, 2012, the date of its most recent annual report to stockholders.

28

Item 4. Controls and Procedures.

The Company’s Chief Executive Officer, Interim Chief Financial Officer and Chief Risk Officer and Disclosure Committee, which includes the Company’s 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.

As of March 31, 2013, 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, 2012.

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

None.

Item 3. Defaults Upon Senior Securities.

None.

Item 4. Mine Safety Disclosures.

None.

Item 5. Other Information.

None.

29

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).

30

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.

31

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: May 10, 2013	/s/David E. Rainbolt
	David E. Rainbolt
	Chief Executive Officer
	(Principal Executive Officer)
Date: May 10, 2013	/s/ Randy Foraker
	Randy Foraker
	Executive Vice President
	Interim Chief Financial Officer
	and Chief Risk Officer
	(Principal Financial and Accounting Officer)

32

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 March 31, 2013 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: May 10, 2013	/s/ David E. Rainbolt
	David E. Rainbolt
	President and Chief Executive Officer
	(Principal Executive Officer)

33

EX-31.2

Exhibit 31.2

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

I, Randy Foraker, certify that:

1. I have reviewed this quarterly report on Form 10-Q for the quarterly period ended March 31, 2013 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: May 10, 2013	/s/ Randy Foraker
	Randy Foraker
	Executive Vice President,
	Interim Chief Financial Officer
	and Chief Risk Officer
	(Principal Financial and Accounting Officer)

34

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 March 31, 2013 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)

May 10, 2013

35

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 March 31, 2013 as filed with the Securities and Exchange Commission (the “Report”), I, Randy Foraker, Interim 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/ Randy Foraker

Randy Foraker

Executive Vice President

Interim Chief Financial Officer

and Chief Risk Officer

(Principal Financial and Accounting Officer)

May 10, 2013

36

XML

Loans and Allowance for Loan Losses (Details 3) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2013	Dec. 31, 2012	Mar. 31, 2012
Age analysis of past due loans segregated by class of loans
30-89 Days Past Due	$ 15,970		$ 14,341
90 Days and Greater	4,945		5,903
Total Past Due Loans	20,915		20,244
Current Loans	3,199,052		3,029,132
Total Loans	3,219,967	3,242,427	3,049,376
Accruing Loans 90 Days or More Past Due	542	537	1,150
Non-residential real estate [Member]
Age analysis of past due loans segregated by class of loans
30-89 Days Past Due	3,293		3,924
90 Days and Greater	1,945		849
Total Past Due Loans	5,238		4,773
Current Loans	1,238,804		1,097,141
Total Loans	1,244,042		1,101,914
Accruing Loans 90 Days or More Past Due	18		192
Residential real estate [Member]
Age analysis of past due loans segregated by class of loans
30-89 Days Past Due	4,438		3,218
90 Days and Greater	868		1,915
Total Past Due Loans	5,306		5,133
Current Loans	768,487		690,937
Total Loans	773,793		696,070
Accruing Loans 90 Days or More Past Due	268		436
Non-consumer non-real estate [Member]
Age analysis of past due loans segregated by class of loans
30-89 Days Past Due	2,100		1,311
90 Days and Greater	214		633
Total Past Due Loans	2,314		1,944
Current Loans	748,287		723,144
Total Loans	750,601		725,088
Accruing Loans 90 Days or More Past Due	74		132
Consumer non-real estate [Member]
Age analysis of past due loans segregated by class of loans
30-89 Days Past Due	1,994		1,767
90 Days and Greater	184		220
Total Past Due Loans	2,178		1,987
Current Loans	209,142		198,221
Total Loans	211,320		200,208
Accruing Loans 90 Days or More Past Due	126		195
Other loans [Member]
Age analysis of past due loans segregated by class of loans
30-89 Days Past Due	2,152		1,414
90 Days and Greater	1,406		1,352
Total Past Due Loans	3,558		2,766
Current Loans	140,468		160,722
Total Loans	144,026		163,488
Accruing Loans 90 Days or More Past Due			59
Acquired loans [Member]
Age analysis of past due loans segregated by class of loans
30-89 Days Past Due	1,993		2,707
90 Days and Greater	328		934
Total Past Due Loans	2,321		3,641
Current Loans	93,864		158,967
Total Loans	96,185		162,608
Accruing Loans 90 Days or More Past Due	$ 56		$ 136

XML

Stockholder's Equity (Details Textual) (USD $) In Billions, unless otherwise specified	3 Months Ended
	Mar. 31, 2013
Stockholders' Equity (Additional 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]
Stockholders' Equity (Textual) [Abstract]
Quantitative limit for trust preferred securities to be included in tier 1 capital	10

XML

Stock-Based Compensation (Details 2) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Stock-based employee compensation expense
Stock-based compensation expense	$ 374	$ 441
Tax	145	171
Stock-based compensation expense, net of tax	$ 229	$ 270

XML

Net Income Per Common Share (Details) (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Basic and diluted net income per common share
Income available to common stockholders - Income	$ 13,372	$ 14,005
Income available to common stockholders - Shares	15,238,701	15,134,606
Income available to common stockholders - Per Share Amount	$ 0.88	$ 0.93
Effect of stock options - Shares	243,816	280,905
Income available to common stockholders plus assumed exercises of stock options - Income	$ 13,372	$ 14,005
Income available to common stockholders plus assumed exercises of stock options - Shares	15,482,517	15,415,511
Income available to common stockholders plus assumed exercises of stock options - Per Share Amount	$ 0.86	$ 0.91

XML

Stock-Based Compensation (Details) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2013
Summary of the activity under stock option plan
Outstanding at beginning period - Options	1,216,981
Outstanding at beginning period - Wgtd. Avg. Exercise Price	$ 31.98
Options granted
Options granted - Wgtd. Avg. Exercise Price
Options exercised	(8,250)
Options exercised - Wgtd. Avg. Exercise Price	$ 17.22
Options cancelled, forfeited, or expired - Options
Options cancelled, forfeited, or expired - Wgtd. Avg. Exercise Price
Outstanding at ending period - Options	1,208,731
Outstanding at ending period - Wgtd. Avg. Exercise Price	$ 32.08
Outstanding at ending period - Wgtd. Avg. Remaining Contractual Term, years	8 years 5 months 5 days
Outstanding at ending period - Aggregate Intrinsic Value	$ 11,632
Exercisable at ending period - Options	626,031
Exercisable at ending period - Wgtd. Avg. Exercise Price	$ 26.20
Exercisable at ending period - Wgtd. Avg. Remaining Contractual Term, years	5 years 4 days
Exercisable at ending period - Aggregate Intrinsic Value	$ 9,703

XML

Securities (Details 3) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2013
Available for Sale
Amortized Cost, Total	$ 540,336
Estimated Fair Value, Total	549,391
Held for Investment [Member]
Contractual maturity of debt securities
Amortized cost, Within one year	4,590
Amortized cost, After one year but within five years	9,898
Amortized cost, After five years but within ten years	1,179
Amortized cost, After ten years	432
Amortized cost, Total	16,099
Estimated Fair Value, Within one year	4,627
Estimated Fair Value, After one year but within five years	9,999
Estimated Fair Value, After five years but within ten years	1,212
Estimated Fair Value, After ten years	479
Estimated Fair Value Total	16,317
Available for Sale [Member]
Available for Sale
Amortized Cost, Within one year	191,802
Amortized Cost, After one year but within five years	219,323
Amortized Cost, After five years but within ten years	34,426
Amortized Cost, After ten years	87,206
Total debt securities	532,757
Amortized Cost, Equity securities	7,579
Amortized Cost, Total	540,336
Estimated Fair Value, Within one year	192,015
Estimated Fair Value, After one year but within five years	221,790
Estimated Fair Value, After five years but within ten years	35,851
Estimated Fair Value, After ten years	89,611
Total debt securities	539,267
Estimated Fair Value, Equity securities	10,124
Estimated Fair Value, Total	$ 549,391

XML

Fair Value Measurements (Details) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2013	Dec. 31, 2012	Mar. 31, 2012
Fair value of financial assets and liabilities measured on recurring basis
Securities available for sale	$ 549,391		$ 552,442
Derivative assets	3,424		10,578
Derivative liabilities	1,658		8,576
Loans held for sale	10,287	13,661	15,585
Mortgage servicing intangibles	709		1,004
Level 1 Inputs [Member]
Fair value of financial assets and liabilities measured on recurring basis
Securities available for sale	20,304
Derivative assets
Derivative liabilities
Loans held for sale
Mortgage servicing intangibles
Level 2 Inputs [Member]
Fair value of financial assets and liabilities measured on recurring basis
Securities available for sale	518,963		543,069
Derivative assets	3,424		10,578
Derivative liabilities	1,658		8,576
Loans held for sale	10,287		15,585
Mortgage servicing intangibles
Level 3 Inputs [Member]
Fair value of financial assets and liabilities measured on recurring basis
Securities available for sale	10,124		9,373
Derivative assets
Derivative liabilities
Loans held for sale
Mortgage servicing intangibles	$ 709		$ 1,004

XML

Net Income Per Common Share (Tables)

3 Months Ended

Mar. 31, 2013

Net Income Per Common Share [Abstract]

Basic and diluted 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 March 31, 2013
Basic
Income available to common stockholders	$	13,372		15,238,701	$	0.88
Effect of stock options		—		243,816
Diluted
Income available to common stockholders plus assumed exercises of stock options	$	13,372		15,482,517	$	0.86
Three Months Ended March 31, 2012
Basic
Income available to common stockholders	$	14,005		15,134,606	$	0.93
Effect of stock options		—		280,905
Diluted
Income available to common stockholders plus assumed exercises of stock options	$	14,005		15,415,511	$	0.91

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

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 March 31, 2013		534,000	$	39.44
Three Months Ended March 31, 2012		607,200	$	38.70

XML

Stock-Based Compensation (Details 4)	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Assumptions used for computing share-based employee compensation expense
Risk-free interest rate	1.95%	1.95%
Dividend yield	2.00%	2.00%
Stock price volatility	20.21%	38.75%
Expected term	10 years	10 years

XML

Loans and Allowance for Loan Losses (Details 6) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012	Dec. 31, 2012
Activity in ALLL by class of loans
Beginning balance	$ 38,725	$ 37,656
Charge-offs	(533)	(532)
Recoveries	172	336
Net charge-offs	(361)	(196)
Provisions charged to operations	300	173
Ending balance	38,664	37,633
Individually evaluated for impairment	6,517	8,001
Collectively evaluated for impairment	32,147	29,632
Individually evaluated for impairment	63,351	71,115
Collectively evaluated for impairment	3,150,306	2,966,137
Loans acquired with deteriorated credit quality	6,310	12,124
Ending balance	3,219,967	3,049,376	3,242,427
Non-residential real estate [Member]
Activity in ALLL by class of loans
Beginning balance	14,969	13,948
Charge-offs	(18)	(121)
Recoveries	19	37
Net charge-offs	1	(84)
Provisions charged to operations	361	245
Ending balance	15,331	14,109
Individually evaluated for impairment	2,694	3,085
Collectively evaluated for impairment	12,637	11,024
Individually evaluated for impairment	35,678	38,489
Collectively evaluated for impairment	1,208,364	1,063,425
Ending balance	1,244,042	1,101,914
Residential real estate [Member]
Activity in ALLL by class of loans
Beginning balance	9,815	9,764
Charge-offs	(151)	(36)
Recoveries	13	96
Net charge-offs	(138)	60
Provisions charged to operations	244	(62)
Ending balance	9,921	9,762
Individually evaluated for impairment	2,123	2,692
Collectively evaluated for impairment	7,798	7,070
Individually evaluated for impairment	18,797	21,002
Collectively evaluated for impairment	754,996	675,068
Ending balance	773,793	696,070
Non-consumer non-real estate [Member]
Activity in ALLL by class of loans
Beginning balance	9,385	9,156
Charge-offs	(36)	(17)
Recoveries	31	98
Net charge-offs	(5)	81
Provisions charged to operations	(398)	(39)
Ending balance	8,982	9,198
Individually evaluated for impairment	1,211	1,741
Collectively evaluated for impairment	7,771	7,457
Individually evaluated for impairment	6,329	8,958
Collectively evaluated for impairment	744,272	716,130
Ending balance	750,601	725,088
Consumer non-real estate [Member]
Activity in ALLL by class of loans
Beginning balance	2,451	2,315
Charge-offs	(140)	(114)
Recoveries	76	84
Net charge-offs	(64)	(30)
Provisions charged to operations	(3)	(2)
Ending balance	2,384	2,283
Individually evaluated for impairment	290	300
Collectively evaluated for impairment	2,094	1,983
Individually evaluated for impairment	2,301	2,519
Collectively evaluated for impairment	209,019	197,689
Ending balance	211,320	200,208
Other loans [Member]
Activity in ALLL by class of loans
Beginning balance	1,885	1,886
Charge-offs	(139)	(180)
Recoveries		19
Net charge-offs	(139)	(161)
Provisions charged to operations	76	125
Ending balance	1,822	1,850
Individually evaluated for impairment	199	183
Collectively evaluated for impairment	1,623	1,667
Individually evaluated for impairment	246	147
Collectively evaluated for impairment	143,780	163,341
Ending balance	144,026	163,488
Acquired loans [Member]
Activity in ALLL by class of loans
Beginning balance	220	587
Charge-offs	(49)	(64)
Recoveries	33	2
Net charge-offs	(16)	(62)
Provisions charged to operations	20	(94)
Ending balance	224	431
Collectively evaluated for impairment	224	431
Collectively evaluated for impairment	89,875	150,484
Loans acquired with deteriorated credit quality	6,310	12,124
Ending balance	$ 96,185	$ 162,608

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Loans and Allowance for Loan Losses (Details 1) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2013	Dec. 31, 2012	Mar. 31, 2012
Summary of nonperforming and restructured assets
Past due 90 days or more and still accruing	$ 542	$ 537	$ 1,150
Nonaccrual	20,933	20,549	20,721
Restructured	17,792	17,866	18,483
Total nonperforming and restructured loans	39,267	38,952	40,354
Other real estate owned and repossessed assets	9,424	9,566	12,408
Total nonperforming and restructured assets	$ 48,691	$ 48,518	$ 52,762
Nonperforming and restructured loans to total loans	1.22%	1.20%	1.32%
Nonperforming and restructured assets to total assets	0.84%	0.81%	0.92%

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Stockholders' Equity (Details) (USD $)	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Summary of shares repurchased under stock purchase program
Number of shares repurchased	23,050
Average price of shares repurchased	$ 40.92
Shares remaining to be repurchased	211,914	241,751

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Segment Information (Details Textual)	3 Months Ended
	Mar. 31, 2013 BusinessUnit
Segment Information (Textual) [Abstract]
Number of principal business units	4

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Fair Value Measurements (Details Textual) (USD $)	3 Months Ended
	Mar. 31, 2013
Fair Value Measurements (Textual) [Abstract]
Loan held for sale selling period	30 days
Amount of non-financial assets (liabilities)	$ 0
Non-financial assets or liabilities for which no impairment was provided	$ 0

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Stock-Based Compensation (Details 1) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Options granted and options exercised under stock option plan
Total intrinsic value of options exercised	$ 348	$ 1,132
Cash received from options exercised	142	483
Tax benefit realized from options exercised	$ 135	$ 438

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Recent Developments Including Mergers and Acquisitions

3 Months Ended

Mar. 31, 2013

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. The gain was included in first quarter 2012 earnings.

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Derivative Financial Instruments (Details) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2013
Other Assets [Member]
Notional amounts and estimated fair values of outstanding derivative positions
Derivative assets, Estimated Fair Value	$ 3,424
Other Liabilities [Member]
Notional amounts and estimated fair values of outstanding derivative positions
Derivative liabilities, Estimated Fair Value	1,658
Oil [Member]
Notional amounts and estimated fair values of outstanding derivative positions
Notional Units	Barrels
Derivative assets, Notional Amount	877
Derivative assets, Estimated Fair Value	2,174
Derivative liabilities, Notional Amount	(877)
Derivative liabilities, Estimated Fair Value	(1,215)
Natural Gas [Member]
Notional amounts and estimated fair values of outstanding derivative positions
Notional Units	MMBTUs
Derivative assets, Notional Amount	4,653
Derivative assets, Estimated Fair Value	1,250
Derivative liabilities, Notional Amount	(4,653)
Derivative liabilities, Estimated Fair Value	$ (443)

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Loans and Allowance for Loan Losses (Details 7) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Transfers from loans to other real estate owned and repossessed assets
Other real estate owned	$ 436	$ 659
Repossessed assets	209	180
Total	$ 645	$ 839

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Recent Developments Including Mergers and Acquisitions (Details) (USD $) In Millions, unless otherwise specified	1 Months Ended
	Jan. 31, 2012
Recent Transactions Including Mergers Acquisitions (Textual) [Abstract]
Pretax gain on sale of investments	$ 4.5
Gain on sale of investments, Net of tax	$ 2.6

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Segment Information (Tables)

3 Months Ended

Mar. 31, 2013

Segment Information [Abstract]

Results of operations and selected financial information

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 March 31, 2013
Net interest income (expense)	$	14,011	$	25,144	$	1,565	$	(464	)	$	—		$	40,256
Noninterest income		3,190		11,545		6,902		14,749			(13,851	)		22,535
Income before taxes		8,937		14,077		3,237		8,094			(13,798	)		20,547
Three Months Ended March 31, 2012
Net interest income (expense)	$	13,163	$	26,631	$	1,713	$	(690	)	$	—		$	40,817
Noninterest income		2,681		10,135		9,864		15,381			(14,624	)		23,437
Income before taxes		8,432		15,255		6,387		6,533			(14,563	)		22,044
Total Assets:
March 31, 2013	$	1,926,511	$	3,627,011	$	109,887	$	690,318		$	(579,801	)	$	5,773,926
December 31, 2012	$	1,996,539	$	3,801,653	$	186,473	$	602,342		$	(564,757	)	$	6,022,250
March 31, 2012	$	1,809,836	$	3,760,533	$	139,114	$	590,597		$	(562,086	)	$	5,737,994

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Net Income Per Common Share (Details 1) (USD $)	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Average exercise prices of options excluded from computation of diluted net income per common share
Shares	534,000	607,200
Average Exercise Price	$ 39.44	$ 38.70

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Loans and Allowance for Loan Losses (Details Textual) (USD $)	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012	Dec. 31, 2012 Customer
Loans and allowance for loan losses (Textual) [Abstract]
Percentage of loans secured by real estate	60.00%
Interest income recognized	$ 301,000	$ 338,000
Interest income on impaired loans	$ 0	$ 0
Troubled debt restructuring principal deferral			1

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Securities (Details) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2013	Dec. 31, 2012	Mar. 31, 2012
Summarizes securities held for investment and securities available for sale
Held for investment, at cost (fair value: $16,317)	$ 16,099
Available for sale, at fair value	549,391
Total	$ 565,490	$ 562,542	$ 573,801

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Securities (Details 1) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2013
Summarizes amortized cost and estimated fair values of securities held for investment
Amortized Cost	$ 16,099
Gross Unrealized Gains	226
Gross Unrealized Losses	(8)
Estimated Fair Value	16,317
Mortgage backed securities [Member]
Summarizes amortized cost and estimated fair values of securities held for investment
Amortized Cost	740
Gross Unrealized Gains	56
Gross Unrealized Losses
Estimated Fair Value	796
States and political subdivisions [Member]
Summarizes amortized cost and estimated fair values of securities held for investment
Amortized Cost	15,359
Gross Unrealized Gains	170
Gross Unrealized Losses	(8)
Estimated Fair Value	$ 15,521

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Description of Business and Summary of Significant Accounting Policies

3 Months Ended

Mar. 31, 2013

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, 2012.

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, 2012, 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, 2012, 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 February 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2013-02, “Comprehensive Income (Topic 220).” ASU 2013-02 requires an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. An entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income but only if the amount reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. The new standard was effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2012. Adoption of ASU 2013-02 did not have a significant effect on the Company’s financial statements.

In July 2012, the FASB issued ASU No. 2012-02, “Intangibles (Topic 350)—Goodwill and Other.” ASU 2012-02 simplifies the impairment test for indefinite-lived intangible assets other than goodwill. The new guidance gives the option to first assess qualitative factors to determine if it is more likely than not that the fair value of an indefinite-lived intangible asset is less than its carrying amount as a basis for determining whether it is necessary to perform a quantitative valuation test. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning on or after September 15, 2012. The Company opted to continue to perform quantitative tests for indefinite-lived intangible assets other than goodwill and not to perform qualitative tests for impairment under ASU 2012-02 as of September 15, 2012. Adoption of ASU 2012-02 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 was effective for annual and interim periods beginning on January 1, 2013. Adoption of ASU 2011-11 did not have a significant effect on the Company’s financial statements.

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Securities (Details 2) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2013
Summarizes amortized cost and estimated fair values of securities available for sale
Amortized Cost	$ 540,336
Gross Unrealized Gains	9,223
Gross Unrealized Losses	(168)
Estimated Fair Value, Total	549,391
U.S. Federal agencies [Member]
Summarizes amortized cost and estimated fair values of securities available for sale
Amortized Cost	459,301
Gross Unrealized Gains	3,233
Gross Unrealized Losses	(155)
Estimated Fair Value, Total	462,379
Mortgage backed securities [Member]
Summarizes amortized cost and estimated fair values of securities available for sale
Amortized Cost	17,212
Gross Unrealized Gains	764
Gross Unrealized Losses	(2)
Estimated Fair Value, Total	17,974
States and political subdivisions [Member]
Summarizes amortized cost and estimated fair values of securities available for sale
Amortized Cost	52,858
Gross Unrealized Gains	2,646
Gross Unrealized Losses	(11)
Estimated Fair Value, Total	55,493
Other securities [Member]
Summarizes amortized cost and estimated fair values of securities available for sale
Amortized Cost	10,965
Gross Unrealized Gains	2,580
Gross Unrealized Losses
Estimated Fair Value, Total	$ 13,545

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Loans and Allowance for Loan Losses (Details 4) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Impaired loans segregated by class of loans
Unpaid Principal Balance	$ 50,415	$ 55,964
Recorded Investment with Allowance	45,230	51,175
Related Allowance	4,378	4,932
Average Recorded Investment	45,859	49,006
Non-residential real estate [Member]
Impaired loans segregated by class of loans
Unpaid Principal Balance	27,949	28,420
Recorded Investment with Allowance	26,417	27,558
Related Allowance	2,185	2,235
Average Recorded Investment	26,814	22,887
Residential real estate [Member]
Impaired loans segregated by class of loans
Unpaid Principal Balance	6,079	6,185
Recorded Investment with Allowance	5,472	5,695
Related Allowance	1,337	1,432
Average Recorded Investment	4,847	5,557
Non-consumer non-real estate [Member]
Impaired loans segregated by class of loans
Unpaid Principal Balance	1,899	2,062
Recorded Investment with Allowance	1,565	1,748
Related Allowance	452	605
Average Recorded Investment	2,249	1,664
Consumer non-real estate [Member]
Impaired loans segregated by class of loans
Unpaid Principal Balance	441	567
Recorded Investment with Allowance	421	477
Related Allowance	96	65
Average Recorded Investment	408	452
Other loans [Member]
Impaired loans segregated by class of loans
Unpaid Principal Balance	3,736	1,880
Recorded Investment with Allowance	3,094	1,524
Related Allowance	267	320
Average Recorded Investment	2,648	2,666
Acquired loans [Member]
Impaired loans segregated by class of loans
Unpaid Principal Balance	10,311	16,850
Recorded Investment with Allowance	8,261	14,173
Related Allowance	41	275
Average Recorded Investment	$ 8,893	$ 15,780

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Stockholders Equity (Details 1) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2013
Required capital amounts and company's 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's respective ratios
Total Capital To Risk Weighted Assets Actual Amount	531,048
Total Capital To Risk Weighted Assets Actual Ratio	14.75%
Capital Required For Capital Adequacy Amount	288,098
Capital Required For Capital Adequacy to Risk Weighted Assets Ratio	8.00%
Tier 1 Risk Based Capital Amount	492,384
Tier 1 Risk Based Capital To Risk Weighted Assets Ratio	13.67%
Tier 1 Risk Based Capital Required For Capital Adequacy Amount	144,049
Tier 1 Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets Ratio	4.00%
Tier 1 Capital Amount	492,384
Tier 1 Capital To Average Assets Ratio	8.61%
Tier 1 Capital Required For Capital Adequacy Amount	173,218
Tier 1 Capital Required For Capital Adequacy To Average Assets Ratio	3.00%
BancFirst [Member]
Required capital amounts and company's respective ratios
Total Capital To Risk Weighted Assets Actual Amount	502,497
Total Capital To Risk Weighted Assets Actual Ratio	13.98%
Capital Required For Capital Adequacy Amount	287,481
Capital Required For Capital Adequacy to Risk Weighted Assets Ratio	8.00%
Capital Required To Be Well Capitalized Amount	359,351
Capital Required To Be Well Capitalized To Risk Weighted Assets Ratio	10.00%
Tier 1 Risk Based Capital Amount	463,833
Tier 1 Risk Based Capital To Risk Weighted Assets Ratio	12.91%
Tier 1 Risk Based Capital Required For Capital Adequacy Amount	143,740
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	215,610
Tier 1 Risk Based Capital Required To Be Well Capitalized To Risk Weighted Assets Ratio	6.00%
Tier 1 Capital Amount	463,833
Tier 1 Capital To Average Assets Ratio	8.12%
Tier 1 Capital Required For Capital Adequacy Amount	172,641
Tier 1 Capital Required For Capital Adequacy To Average Assets Ratio	3.00%
Tier 1 Capital Required To Be Well Capitalized Amount	287,735
Tier 1 Capital Required To Be Well Capitalized To Average assets Ratio	5.00%

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Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Mar. 31, 2013	Dec. 31, 2012	Mar. 31, 2012
ASSETS
Cash and due from banks	$ 130,316	$ 213,103	$ 143,515
Interest-bearing deposits with banks	1,585,736	1,732,045	1,693,439
Federal funds sold		700
Securities (fair value: $565,708, $562,815, and $574,230, respectively)	565,490	562,542	573,801
Loans:
Total loans (net of unearned interest)	3,219,967	3,242,427	3,049,376
Allowance for loan losses	(38,664)	(38,725)	(37,633)
Loans, net	3,181,303	3,203,702	3,011,743
Premises and equipment, net	116,729	115,503	114,115
Other real estate owned	9,098	9,227	12,005
Intangible assets, net	11,595	12,083	13,703
Goodwill	44,545	44,545	44,545
Accrued interest receivable	16,294	15,976	17,157
Other assets	112,820	112,824	113,971
Total assets	5,773,926	6,022,250	5,737,994
Deposits:
Noninterest-bearing	1,934,427	2,016,832	1,817,907
Interest-bearing	3,240,085	3,423,998	3,334,949
Total deposits	5,174,512	5,440,830	5,152,856
Short-term borrowings	4,891	4,571	7,323
Accrued interest payable	2,012	2,170	2,473
Long-term borrowings	11,040	9,178	13,403
Other liabilities	26,960	19,130	33,899
Junior subordinated debentures	26,804	26,804	36,083
Total liabilities	5,246,219	5,502,683	5,246,037
Commitments and contingent liabilities
Stockholders' equity:
Common stock, $1.00 par; 20,000,000 shares authorized; shares issued and outstanding: 15,228,277 ,15,242,308 and 15,145,280, respectively	15,228	15,242	15,145
Capital surplus	82,956	82,401	78,420
Retained earnings	423,637	415,607	390,881
Accumulated other comprehensive income, net of income tax of $3,169, $3,400 and $4,043, respectively	5,886	6,317	7,511
Total stockholders' equity	527,707	519,567	491,957
Total liabilities and stockholders' equity	5,773,926	6,022,250	5,737,994
Senior preferred stock [Member]
Stockholders' equity:
Preferred stock, value
Cumulative preferred stock [Member]
Stockholders' equity:
Preferred stock, value

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Intangible Assets (Details) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2013
Summary of intangible assets
Gross Carrying Amount	$ 19,953
Accumulated Amortization	(8,358)
Net Carrying Amount	11,595
Core deposit intangibles [Member]
Summary of intangible assets
Gross Carrying Amount	13,473
Accumulated Amortization	(6,171)
Net Carrying Amount	7,302
Customer relationship intangibles [Member]
Summary of intangible assets
Gross Carrying Amount	5,657
Accumulated Amortization	(2,073)
Net Carrying Amount	3,584
Mortgage Servicing Intangibles [Member]
Summary of intangible assets
Gross Carrying Amount	823
Accumulated Amortization	(114)
Net Carrying Amount	$ 709

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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, 2011		$ 15,118	$ 77,462	$ 381,017	$ 9,444
Shares issued		27	455
Net income	14,005			14,005
Dividends on common stock				(4,141)
Net change	(1,933)				(1,933)
Tax effect of stock options			62
Stock-based compensation arrangements			441
Balance at end of period at Mar. 31, 2012	491,957	15,145	78,420	390,881	7,511
Balance at beginning of period at Dec. 31, 2012	519,567	15,242	82,401	415,607	6,317
Shares issued		9	158
Shares acquired and canceled		(23)		(920)
Net income	13,372			13,372
Dividends on common stock				(4,422)
Net change	(431)				(431)
Tax effect of stock options			23
Stock-based compensation arrangements			374
Balance at end of period at Mar. 31, 2013	$ 527,707	$ 15,228	$ 82,956	$ 423,637	$ 5,886

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Fair Value Measurements (Details 2) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Impaired loans (less specific allowance) [Member]
Assets measured at fair value on a nonrecurring basis
Total Fair Value	$ 40,852	$ 46,243
Foreclosed assets [Member]
Assets measured at fair value on a nonrecurring basis
Total Fair Value	326	403
Gains (Losses)	13	(1)
Other real estate owned [Member]
Assets measured at fair value on a nonrecurring basis
Total Fair Value	9,098	12,005
Gains (Losses)	(87)	(154)
Level 1 [Member] | Impaired loans (less specific allowance) [Member]
Assets measured at fair value on a nonrecurring basis
Total Fair Value
Level 1 [Member] | Foreclosed assets [Member]
Assets measured at fair value on a nonrecurring basis
Total Fair Value
Level 1 [Member] | Other real estate owned [Member]
Assets measured at fair value on a nonrecurring basis
Total Fair Value
Level 2 [Member] | Impaired loans (less specific allowance) [Member]
Assets measured at fair value on a nonrecurring basis
Total Fair Value
Level 2 [Member] | Foreclosed assets [Member]
Assets measured at fair value on a nonrecurring basis
Total Fair Value
Level 2 [Member] | Other real estate owned [Member]
Assets measured at fair value on a nonrecurring basis
Total Fair Value
Level 3 [Member] | Impaired loans (less specific allowance) [Member]
Assets measured at fair value on a nonrecurring basis
Total Fair Value	40,852	46,243
Level 3 [Member] | Foreclosed assets [Member]
Assets measured at fair value on a nonrecurring basis
Total Fair Value	326	403
Level 3 [Member] | Other real estate owned [Member]
Assets measured at fair value on a nonrecurring basis
Total Fair Value	$ 9,098	$ 12,005

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Securities (Details Textual) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2013
Securities (Textual) [Abstract]
Held for investment at fair value	$ 16,317

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Derivative Financial Instruments (Details Textual) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2013	Jun. 04, 2008
Derivative Financial Instruments (Textual) [Abstract]
Guaranty obligations		$ 30
Guaranty obligations, term in years	five

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Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2013

Intangible Assets [Abstract]

Summary of intangible assets

The following is a summary of intangible assets:

	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
	(Dollars in thousands)
As of March 31, 2013
Core deposit intangibles	$	13,473	$	(6,171	)	$	7,302
Customer relationship intangibles		5,657		(2,073	)		3,584
Mortgage servicing intangibles		823		(114	)		709
Total	$	19,953	$	(8,358	)	$	11,595

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Loans and Allowance for Loan Losses (Details) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2013	Dec. 31, 2012	Mar. 31, 2012
Schedule of loans outstanding by category
Total loans	$ 3,219,967	$ 3,242,427	$ 3,049,376
Percent	100.00%	100.00%	100.00%
Loans held for sale (included above)	10,287	13,661	15,585
Taxable [Member]
Schedule of loans outstanding by category
Total loans	9,272	9,412	7,332
Percent	0.29%	0.29%	0.24%
Tax-exempt [Member]
Schedule of loans outstanding by category
Total loans	13,034	13,194	15,810
Percent	0.41%	0.41%	0.52%
Other (not classified above) [Member]
Schedule of loans outstanding by category
Total loans	19,521	20,360	21,821
Percent	0.61%	0.63%	0.72%
Commercial and Industrial [Member]
Schedule of loans outstanding by category
Total loans	518,438	559,274	526,028
Percent	16.10%	17.25%	17.25%
Oil & gas production & equipment [Member]
Schedule of loans outstanding by category
Total loans	154,392	154,380	129,710
Percent	4.79%	4.76%	4.25%
Agriculture [Member]
Schedule of loans outstanding by category
Total loans	96,094	93,274	90,659
Percent	2.98%	2.88%	2.97%
Construction [Member]
Schedule of loans outstanding by category
Total loans	231,770	226,102	200,609
Percent	7.20%	6.97%	6.58%
Farmland [Member]
Schedule of loans outstanding by category
Total loans	124,347	125,033	107,751
Percent	3.86%	3.86%	3.53%
One to four family residences [Member]
Schedule of loans outstanding by category
Total loans	680,129	669,230	660,725
Percent	21.12%	20.64%	21.67%
Multifamily residential properties [Member]
Schedule of loans outstanding by category
Total loans	47,506	50,721	40,164
Percent	1.48%	1.56%	1.32%
Commercial [Member]
Schedule of loans outstanding by category
Total loans	1,084,864	1,068,445	1,004,596
Percent	33.69%	32.95%	32.94%
Consumer [Member]
Schedule of loans outstanding by category
Total loans	$ 240,600	$ 253,002	$ 244,171
Percent	7.47%	7.80%	8.01%

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Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 2013

Stockholders' Equity [Abstract]

Summary of shares repurchased under stock purchase program

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

	Three Months Ended March 31,
	2013		2012
Number of shares repurchased		23,050		—
Average price of shares repurchased	$	40.92		—
Shares remaining to be repurchased		211,914		241,751

Required capital amounts and the Company's respective ratios

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 March 31, 2013:
Total Capital
(to Risk Weighted Assets)-
BancFirst Corporation	$	531,048		14.75	%	$	288,098		8.00	%		N/A		N/A
BancFirst		502,497		13.98	%		287,481		8.00	%	$	359,351		10.00	%
Tier 1 Capital
(to Risk Weighted Assets)-
BancFirst Corporation	$	492,384		13.67	%	$	144,049		4.00	%		N/A		N/A
BancFirst		463,833		12.91	%		143,740		4.00	%	$	215,610		6.00	%
Tier 1 Capital
(to Total Assets)-
BancFirst Corporation	$	492,384		8.61	%	$	173,218		3.00	%		N/A		N/A
BancFirst		463,833		8.12	%		172,641		3.00	%	$	287,735		5.00	%

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Consolidated Statements of Cash Flow (Unaudited) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 13,372	$ 14,005
Adjustments to reconcile to net cash provided by operating activities:
Provision for loan losses	300	173
Depreciation and amortization	2,751	2,588
Net amortization of securities premiums and discounts	417	412
Realized securities gains	(122)	(4,032)
Gain on sales of loans	(688)	(572)
Cash receipts from the sale of loans originated for sale	54,540	45,767
Cash disbursements for loans originated for sale	(50,479)	(48,734)
Deferred income tax benefit	(96)	(20)
Gains on other assets	(99)	(30)
(Increase) decrease in interest receivable	(318)	1,505
Decrease in interest payable	(158)	(237)
Amortization of stock- based compensation arrangements	374	441
Other, net	3,819	3,619
Net cash provided by operating activities	23,613	14,885
INVESTING ACTIVITIES
Net decrease in Federal funds sold	700	400
Purchases of securities:
Available for sale	(20,565)	(9,785)
Maturities of securities:
Held for investment	315	1,099
Available for sale	15,317	44,034
Proceeds from sales and calls of securities:
Available for sale	1,027	6,470
Purchases of loans	(26,597)	(542)
Proceeds from sales of loans	27,426	11,485
Net other decrease/( increase) in loans	17,252	(44,317)
Purchases of premises, equipment and computer software	(3,683)	(5,005)
Proceeds from the sale of other assets	988	4,937
Net cash provided by investing activities	12,180	8,776
FINANCING ACTIVITIES
Net (decrease)/ increase in demand, transaction and savings deposits	(239,034)	148,109
Net decrease in time deposits	(27,284)	(32,988)
Net in increase/(decrease) in short-term borrowings	320	(951)
Issuance/(paydown) of long-term borrowings	1,862	(5,073)
Issuance of common stock	190	544
Common stock acquired	(943)
Cash dividends paid		(4,081)
Net cash (used in) provided by financing activities	(264,889)	105,560
Net (decrease) increase in cash, due from banks and interest-bearing deposits	(229,096)	129,221
Cash, due from banks and interest-bearing deposits at the beginning of the period	1,945,148	1,707,733
Cash, due from banks and interest-bearing deposits at the end of the period	1,716,052	1,836,954
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid during the period for interest	$ 3,753	$ 5,185

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Consolidated Balance Sheets (Parenthetical) (USD $) In Thousands, except Share data, unless otherwise specified	Mar. 31, 2013	Dec. 31, 2012	Mar. 31, 2012
Securities, fair value	$ 565,708	$ 562,815	$ 574,230
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	15,228,277	15,242,308	15,145,280
Common stock, shares outstanding	15,228,277	15,242,308	15,145,280
Accumulated other comprehensive income, tax	$ 3,169	$ 3,400	$ 4,043
Senior preferred stock [Member]
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
Cumulative preferred stock [Member]
Preferred stock, par value	$ 5.00	$ 5.00	$ 5.00
Preferred stock, shares authorized	900,000	900,000	900,000
Preferred stock, shares issued

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Derivative Financial Instruments

3 Months Ended

Mar. 31, 2013

Derivative Financial Instruments [Abstract]

DERIVATIVE FINANCIAL INSTRUMENTS

(10) 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:

	March 31, 2013
Oil and Natural Gas Swaps and Options	Notional Units	Notional Amount			Estimated Fair  Value
	(Notional amounts and dollars in thousands)
Oil
Derivative assets	Barrels		877		$	2,174
Derivative liabilities	Barrels		(877	)		(1,215	)
Natural Gas
Derivative assets	MMBTUs		4,653			1,250
Derivative liabilities	MMBTUs		(4,653	)		(443	)
Total Fair Value	Included in
Derivative assets	Other assets					3,424
Derivative liabilities	Other liabilities					1,658

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 March 31,
	2013		2012
	(Dollars in thousands)
Derivative income	$	108	$	209

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:

	March 31, 2013
	(Dollars in thousands)
Credit exposure	$	840

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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Document and Entity Information	3 Months Ended
	Mar. 31, 2013	Apr. 30, 2013
Document and Entity Information [Abstract]
Entity Registrant Name	BANCFIRST CORP /OK/
Entity Central Index Key	0000760498
Document Type	10-Q
Document Period End Date	Mar. 31, 2013
Amendment Flag	false
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		15,230,364

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Segment Information

3 Months Ended

Mar. 31, 2013

Segment Information [Abstract]

SEGMENT INFORMATION

(11) 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 March 31, 2013
Net interest income (expense)	$	14,011	$	25,144	$	1,565	$	(464	)	$	—		$	40,256
Noninterest income		3,190		11,545		6,902		14,749			(13,851	)		22,535
Income before taxes		8,937		14,077		3,237		8,094			(13,798	)		20,547
Three Months Ended March 31, 2012
Net interest income (expense)	$	13,163	$	26,631	$	1,713	$	(690	)	$	—		$	40,817
Noninterest income		2,681		10,135		9,864		15,381			(14,624	)		23,437
Income before taxes		8,432		15,255		6,387		6,533			(14,563	)		22,044
Total Assets:
March 31, 2013	$	1,926,511	$	3,627,011	$	109,887	$	690,318		$	(579,801	)	$	5,773,926
December 31, 2012	$	1,996,539	$	3,801,653	$	186,473	$	602,342		$	(564,757	)	$	6,022,250
March 31, 2012	$	1,809,836	$	3,760,533	$	139,114	$	590,597		$	(562,086	)	$	5,737,994

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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Consolidated Statements of Comprehensive Income (Unaudited) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
INTEREST INCOME
Loans, including fees	$ 41,174	$ 41,960
Securities:
Taxable	1,353	2,407
Tax-exempt	346	424
Federal funds sold	1	1
Interest-bearing deposits with banks	977	973
Total interest income	43,851	45,765
INTEREST EXPENSE
Deposits	3,040	4,249
Short-term borrowings	2	8
Long-term borrowings	62	105
Junior subordinated debentures	491	586
Total interest expense	3,595	4,948
Net interest income	40,256	40,817
Provision for loan losses	300	173
Net interest income after provision for loan losses	39,956	40,644
NONINTEREST INCOME
Trust revenue	1,906	1,707
Service charges on deposits	12,336	10,607
Securities transactions	122	4,032
Income from sales of loans	688	572
Insurance commissions	4,045	2,993
Cash management	1,423	1,939
Gain on sale of other assets	217	20
Other	1,798	1,567
Total noninterest income	22,535	23,437
NONINTEREST EXPENSE
Salaries and employee benefits	25,209	24,800
Occupancy and fixed assets expense, net	2,580	2,446
Depreciation	2,308	2,131
Amortization of intangible assets	443	457
Data processing services	1,185	1,283
Net expense from other real estate owned	122	247
Marketing and business promotion	1,507	1,655
Deposit insurance	743	719
Other	7,847	8,299
Total noninterest expense	41,944	42,037
Income before taxes	20,547	22,044
Income tax expense	(7,175)	(8,039)
Net income	13,372	14,005
NET INCOME PER COMMON SHARE
Basic	$ 0.88	$ 0.93
Diluted	$ 0.86	$ 0.91
OTHER COMPREHENSIVE INCOME
Unrealized losses on securities, net of tax of $226 and $318, respectively	(421)	(591)
Reclassification adjustment for gains included in net income, net of tax of $5, and $723, respectively	(10)	(1,342)
Other comprehensive loss, net of tax of $231 and $1,041, respectively	(431)	(1,933)
Comprehensive income	$ 12,941	$ 12,072

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Intangible Assets

3 Months Ended

Mar. 31, 2013

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 March 31, 2013
Core deposit intangibles	$	13,473	$	(6,171	)	$	7,302
Customer relationship intangibles		5,657		(2,073	)		3,584
Mortgage servicing intangibles		823		(114	)		709
Total	$	19,953	$	(8,358	)	$	11,595

Additional information for intangible assets can be found in Footnote (7) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2012.

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Loans and Allowance for Loan Losses

3 Months Ended

Mar. 31, 2013

Loans and Allowance for Loan Losses [Abstract]

LOANS AND ALLOWANCE FOR LOAN LOSSES

(4) LOANS AND ALLOWANCE FOR LOAN LOSSES

The following is a schedule of loans outstanding by category:

	March 31, 2013					December 31, 2012					March 31, 2012
	Amount		Percent			Amount		Percent			Amount		Percent
	(Dollars in thousands)
Commercial and industrial	$	518,438		16.10	%	$	559,274		17.25	%	$	526,028		17.25	%
Oil & gas production & equipment		154,392		4.79			154,380		4.76			129,710		4.25
Agriculture		96,094		2.98			93,274		2.88			90,659		2.97
State and political subdivisions:
Taxable		9,272		0.29			9,412		0.29			7,332		0.24
Tax-exempt		13,034		0.41			13,194		0.41			15,810		0.52
Real estate:
Construction		231,770		7.20			226,102		6.97			200,609		6.58
Farmland		124,347		3.86			125,033		3.86			107,751		3.53
One to four family residences		680,129		21.12			669,230		20.64			660,725		21.67
Multifamily residential properties		47,506		1.48			50,721		1.56			40,164		1.32
Commercial		1,084,864		33.69			1,068,445		32.95			1,004,596		32.94
Consumer		240,600		7.47			253,002		7.80			244,171		8.01
Other (not classified above)		19,521		0.61			20,360		0.63			21,821		0.72
Total loans	$	3,219,967		100.00	%	$	3,242,427		100.00	%	$	3,049,376		100.00	%
Loans held for sale (included above)	$	10,287				$	13,661				$	15,585

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 (1) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2012.

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 $301,000 for the three months ended March 31, 2013 and approximately $338,000 for the three months ended March 31, 2012.

At March 31, 2013, troubled debt restructurings were primarily due to the principal deferral restructuring from a customer whose 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 table is a summary of nonperforming and restructured assets:

	March 31,			December 31,			March 31,
	2013			2012			2012
	(Dollars in thousands)
Past due 90 days or more and still accruing	$	542		$	537		$	1,150
Nonaccrual		20,933			20,549			20,721
Restructured		17,792			17,866			18,483
Total nonperforming and restructured loans		39,267			38,952			40,354
Other real estate owned and repossessed assets		9,424			9,566			12,408
Total nonperforming and restructured assets	$	48,691		$	48,518		$	52,762
Nonperforming and restructured loans to total loans		1.22	%		1.20	%		1.32	%
Nonperforming and restructured assets to total assets		0.84	%		0.81	%		0.92	%

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.

	March 31, 2013		March 31, 2012
	(Dollars in thousands)
Non-residential real estate	$	9,666	$	9,768
Residential real estate		4,335		4,754
Non-consumer non-real estate		1,449		1,425
Consumer non-real estate		187		143
Other loans		3,052		1,464
Acquired loans		2,244		3,167
Total	$	20,933	$	20,721

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 March 31, 2013
Non-residential real estate	$	3,293	$	1,945	$	5,238	$	1,238,804	$	1,244,042	$	18
Residential real estate		4,438		868		5,306		768,487		773,793		268
Non-consumer non-real estate		2,100		214		2,314		748,287		750,601		74
Consumer non-real estate		1,994		184		2,178		209,142		211,320		126
Other loans		2,152		1,406		3,558		140,468		144,026		—
Acquired loans		1,993		328		2,321		93,864		96,185		56
Total	$	15,970	$	4,945	$	20,915	$	3,199,052	$	3,219,967	$	542
As of March 31, 2012
Non-residential real estate	$	3,924	$	849	$	4,773	$	1,097,141	$	1,101,914	$	192
Residential real estate		3,218		1,915		5,133		690,937		696,070		436
Non-consumer non-real estate		1,311		633		1,944		723,144		725,088		132
Consumer non-real estate		1,767		220		1,987		198,221		200,208		195
Other loans		1,414		1,352		2,766		160,722		163,488		59
Acquired loans		2,707		934		3,641		158,967		162,608		136
Total	$	14,341	$	5,903	$	20,244	$	3,029,132	$	3,049,376	$	1,150

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.

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 March 31, 2013
Non-residential real estate	$	27,949	$	26,417	$	2,185	$	26,814
Residential real estate		6,079		5,472		1,337		4,847
Non-consumer non-real estate		1,899		1,565		452		2,249
Consumer non-real estate		441		421		96		408
Other loans		3,736		3,094		267		2,648
Acquired loans		10,311		8,261		41		8,893
Total	$	50,415	$	45,230	$	4,378	$	45,859
As of March 31, 2012
Non-residential real estate	$	28,420	$	27,558	$	2,235	$	22,887
Residential real estate		6,185		5,695		1,432		5,557
Non-consumer non-real estate		2,062		1,748		605		1,664
Consumer non-real estate		567		477		65		452
Other loans		1,880		1,524		320		2,666
Acquired loans		16,850		14,173		275		15,780
Total	$	55,964	$	51,175	$	4,932	$	49,006

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 disclosed in Footnote (5) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2012.

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 March 31, 2013
Non-residential real estate	$	1,043,069	$	165,295	$	25,994	$	9,684	$	—	$	1,244,042
Residential real estate		670,352		84,644		14,140		4,657		—		773,793
Non-consumer non-real estate		647,162		97,110		4,800		1,529		—		750,601
Consumer non-real estate		198,107		10,912		1,923		374		4		211,320
Other loans		139,696		2,304		1,103		923		—		144,026
Acquired loans		74,939		14,936		4,009		2,301		—		96,185
Total	$	2,773,325	$	375,201	$	51,969	$	19,468	$	4	$	3,219,967
As of March 31, 2012
Non-residential real estate.	$	951,016	$	112,408	$	28,721	$	9,769	$	—	$	1,101,914
Residential real estate		591,818		83,250		15,579		5,423		—		696,070
Non-consumer non-real estate		636,582		79,548		7,480		1,478		—		725,088
Consumer non-real estate		187,999		9,690		2,132		387		—		200,208
Other loans		158,729		2,775		1,725		259		—		163,488
Acquired loans		119,165		31,319		8,901		3,223		—		162,608
Total	$	2,645,309	$	318,990	$	64,538	$	20,539	$	—	$	3,049,376

The allowance for loan losses methodology is disclosed in Footnote (5) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2012.

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 March 31, 2013
Allowance for loan losses:
Balance at December 31, 2012	$	14,969		$	9,815		$	9,385		$	2,451		$	1,885		$	220		$	38,725
Charge-offs		(18	)		(151	)		(36	)		(140	)		(139	)		(49	)		(533	)
Recoveries		19			13			31			76			—			33			172
Net charge-offs		1			(138	)		(5	)		(64	)		(139	)		(16	)		(361	)
Provisions charged to operations		361			244			(398	)		(3	)		76			20			300
Balance at March 31, 2013	$	15,331		$	9,921		$	8,982		$	2,384		$	1,822		$	224		$	38,664
Allowance for loan losses-ending balances:
Individually evaluated for impairment	$	2,694		$	2,123		$	1,211		$	290		$	199		$	—		$	6,517
Collectively evaluated for impairment		12,637			7,798			7,771			2,094			1,623			224			32,147
Balance at March 31, 2013	$	15,331		$	9,921		$	8,982		$	2,384		$	1,822		$	224		$	38,664
Loans-Ending balances:
Individually evaluated for impairment	$	35,678		$	18,797		$	6,329		$	2,301		$	246		$	—		$	63,351
Collectively evaluated for impairment		1,208,364			754,996			744,272			209,019			143,780			89,875			3,150,306
Loans acquired with deteriorated credit quality		—			—			—			—			—			6,310			6,310
Balance at March 31, 2013	$	1,244,042		$	773,793		$	750,601		$	211,320		$	144,026		$	96,185		$	3,219,967
Three Months Ended March 31, 2012
Allowance for loan losses:
Balance at December 31, 2011	$	13,948		$	9,764		$	9,156		$	2,315		$	1,886		$	587		$	37,656
Charge-offs		(121	)		(36	)		(17	)		(114	)		(180	)		(64	)		(532	)
Recoveries		37			96			98			84			19			2			336
Net charge-offs		(84	)		60			81			(30	)		(161	)		(62	)		(196	)
Provisions charged to operations		245			(62	)		(39	)		(2	)		125			(94	)		173
Balance at March 31, 2012	$	14,109		$	9,762		$	9,198		$	2,283		$	1,850		$	431		$	37,633
Allowance for loan losses-ending balances:
Individually evaluated for impairment	$	3,085		$	2,692		$	1,741		$	300		$	183		$	—		$	8,001
Collectively evaluated for impairment		11,024			7,070			7,457			1,983			1,667			431			29,632
Balance at March 31, 2012	$	14,109		$	9,762		$	9,198		$	2,283		$	1,850		$	431		$	37,633
Loans-Ending balances:
Individually evaluated for impairment	$	38,489		$	21,002		$	8,958		$	2,519		$	147		$	—		$	71,115
Collectively evaluated for impairment		1,063,425			675,068			716,130			197,689			163,341			150,484			2,966,137
Loans acquired with deteriorated credit quality		—			—			—			—			—			12,124			12,124
Balance at March 31, 2012	$	1,101,914		$	696,070		$	725,088		$	200,208		$	163,488		$	162,608		$	3,049,376

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:

	Three Months Ended March  31,
	2013		2012
	(Dollars in thousands)
Other real estate owned	$	436	$	659
Repossessed assets		209		180
Total	$	645	$	839

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Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2013

Stock-Based Compensation [Abstract]

Summary of the activity under stock option plan

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)
Three Months Ended March 31, 2013
Outstanding at December 31, 2012		1,216,981		$	31.98
Options granted		—			—
Options exercised		(8,250	)		17.22
Options cancelled, forfeited or expired		—			—
Outstanding at March 31, 2013		1,208,731			32.08		8.43	Yrs	$	11,632
Exercisable at March 31, 2013		626,031			26.20		5.01	Yrs	$	9,703

Options granted and options exercised under stock option plan

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 March 31,
	2013		2012
	(Dollars in thousands)
Total intrinsic value of options exercised	$	348	$	1,132
Cash received from options exercised		142		483
Tax benefit realized from options exercised		135		438

Stock-based employee compensation expense

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

	Three Months Ended March 31,
	2013		2012
	(Dollars in thousands)
Stock-based compensation expense	$	374	$	441
Tax		145		171
Stock-based compensation expense, net of tax	$	229	$	270

Remaining fair value of stock options

The following table shows the remaining fair value of stock options:

	March 31, 2013
	(Dollars in thousands)
Fair value of stock options	$	5,103

Assumptions used for computing stock-based employee compensation expense

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

	Three Months Ended March  31,
	2013			2012
Risk-free interest rate		1.95	%		1.95	%
Dividend yield		2.00	%		2.00	%
Stock price volatility		20.21	%		38.75	%
Expected term		10	Yrs		10	Yrs

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

3 Months Ended

Mar. 31, 2013

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, 2012, 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, 2012, 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 February 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2013-02, “Comprehensive Income (Topic 220).” ASU 2013-02 requires an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. An entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income but only if the amount reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. The new standard was effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2012. Adoption of ASU 2013-02 did not have a significant effect on the Company’s financial statements.

In July 2012, the FASB issued ASU No. 2012-02, “Intangibles (Topic 350)—Goodwill and Other.” ASU 2012-02 simplifies the impairment test for indefinite-lived intangible assets other than goodwill. The new guidance gives the option to first assess qualitative factors to determine if it is more likely than not that the fair value of an indefinite-lived intangible asset is less than its carrying amount as a basis for determining whether it is necessary to perform a quantitative valuation test. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning on or after September 15, 2012. The Company opted to continue to perform quantitative tests for indefinite-lived intangible assets other than goodwill and not to perform qualitative tests for impairment under ASU 2012-02 as of September 15, 2012. Adoption of ASU 2012-02 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 was effective for annual and interim periods beginning on January 1, 2013. Adoption of ASU 2011-11 did not have a significant effect on the Company’s financial statements.

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Net Income Per Common Share

3 Months Ended

Mar. 31, 2013

Net Income Per Common Share [Abstract]

NET INCOME PER COMMON SHARE

(8) 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 March 31, 2013
Basic
Income available to common stockholders	$	13,372		15,238,701	$	0.88
Effect of stock options		—		243,816
Diluted
Income available to common stockholders plus assumed exercises of stock options	$	13,372		15,482,517	$	0.86
Three Months Ended March 31, 2012
Basic
Income available to common stockholders	$	14,005		15,134,606	$	0.93
Effect of stock options		—		280,905
Diluted
Income available to common stockholders plus assumed exercises of stock options	$	14,005		15,415,511	$	0.91

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 March 31, 2013		534,000	$	39.44
Three Months Ended March 31, 2012		607,200	$	38.70

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Fair Value Measurements (Details 3) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2013	Dec. 31, 2012	Mar. 31, 2012	Dec. 31, 2011
FINANCIAL ASSETS
Cash and cash equivalents	$ 1,716,052	$ 1,945,148	$ 1,836,954	$ 1,707,733
Securities held for investment	16,099
Loans:
Total loans (net of unearned interest)	3,219,967	3,242,427	3,049,376
Allowance for loan losses	(38,664)	(38,725)	(37,633)
Loans, net	3,181,303	3,203,702	3,011,743
FINANCIAL LIABILITIES
Deposits	5,174,512	5,440,830	5,152,856
Short-term borrowings	4,891	4,571	7,323
Long-term borrowings	11,040	9,178	13,403
Junior subordinated debentures	26,804	26,804	36,083
Carrying Amount [Member]
FINANCIAL ASSETS
Cash and cash equivalents	1,716,052		1,836,954
Securities held for investment	16,099		21,359
Loans:
Total loans (net of unearned interest)	3,219,967		3,049,376
Allowance for loan losses	(38,664)		(37,633)
Loans, net	3,181,303		3,011,743
FINANCIAL LIABILITIES
Deposits	5,174,512		5,152,856
Short-term borrowings	4,891		7,323
Long-term borrowings	11,040		13,403
Junior subordinated debentures	26,804		36,083
Fair Value [Member]
FINANCIAL ASSETS
Cash and cash equivalents	1,716,052		1,836,954
Securities held for investment	16,317		21,788
Loans:
Loans, net	3,240,479		3,047,715
FINANCIAL LIABILITIES
Deposits	5,200,273		5,186,324
Short-term borrowings	4,891		7,323
Long-term borrowings	11,010		13,440
Junior subordinated debentures	31,093		39,289
OFF-BALANCE SHEET FINANCIAL INSTRUMENTS
Loan commitments	1,556		1,197
Letters of credit	$ 469		$ 463

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Stock-Based Compensation

3 Months Ended

Mar. 31, 2013

Stock-Based Compensation [Abstract]

STOCK-BASED COMPENSATION

(6) 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 March 31, 2013, 15,860 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 March 31, 2013 will become exercisable through the year 2019. 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.

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 March 31, 2013, 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 March 31, 2013 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)
Three Months Ended March 31, 2013
Outstanding at December 31, 2012		1,216,981		$	31.98
Options granted		—			—
Options exercised		(8,250	)		17.22
Options cancelled, forfeited or expired		—			—
Outstanding at March 31, 2013		1,208,731			32.08		8.43	Yrs	$	11,632
Exercisable at March 31, 2013		626,031			26.20		5.01	Yrs	$	9,703

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 March 31,
	2013		2012
	(Dollars in thousands)
Total intrinsic value of options exercised	$	348	$	1,132
Cash received from options exercised		142		483
Tax benefit realized from options exercised		135		438

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 March 31,
	2013		2012
	(Dollars in thousands)
Stock-based compensation expense	$	374	$	441
Tax		145		171
Stock-based compensation expense, net of tax	$	229	$	270

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:

	March 31, 2013
	(Dollars in thousands)
Fair value of stock options	$	5,103

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

	Three Months Ended March  31,
	2013			2012
Risk-free interest rate		1.95	%		1.95	%
Dividend yield		2.00	%		2.00	%
Stock price volatility		20.21	%		38.75	%
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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Stockholders' Equity

3 Months Ended

Mar. 31, 2013

Stockholders' Equity [Abstract]

STOCKHOLDERS' EQUITY

(7) 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 March 31,
	2013		2012
Number of shares repurchased		23,050		—
Average price of shares repurchased	$	40.92		—
Shares remaining to be repurchased		211,914		241,751

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 March 31, 2013, 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 March 31, 2013:
Total Capital
(to Risk Weighted Assets)-
BancFirst Corporation	$	531,048		14.75	%	$	288,098		8.00	%		N/A		N/A
BancFirst		502,497		13.98	%		287,481		8.00	%	$	359,351		10.00	%
Tier 1 Capital
(to Risk Weighted Assets)-
BancFirst Corporation	$	492,384		13.67	%	$	144,049		4.00	%		N/A		N/A
BancFirst		463,833		12.91	%		143,740		4.00	%	$	215,610		6.00	%
Tier 1 Capital
(to Total Assets)-
BancFirst Corporation	$	492,384		8.61	%	$	173,218		3.00	%		N/A		N/A
BancFirst		463,833		8.12	%		172,641		3.00	%	$	287,735		5.00	%

As of March 31, 2013, 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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Fair Value Measurements

3 Months Ended

Mar. 31, 2013

Fair Value Measurements [Abstract]

FAIR VALUE MEASUREMENTS

(9) 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 Accounting Standards Codification 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 state 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. Mortgage Servicing Intangibles are amortized based on current prepayment assumptions and are adjusted to fair value quarterly, if impaired. Fair value is estimated 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 March 31, 2013 and 2012, 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)
March 31, 2013
Securities available for sale	$	20,304	$	518,963	$	10,124	$	549,391
Derivative assets		—		3,424		—		3,424
Derivative liabilities		—		1,658		—		1,658
Loans held for sale		—		10,287		—		10,287
Mortgage servicing intangibles		—		—		709		709
March 31, 2012
Securities available for sale	$	—	$	543,069	$	9,373	$	552,442
Derivative assets		—		10,578		—		10,578
Derivative liabilities		—		8,576		—		8,576
Loans held for sale		—		15,585		—		15,585
Mortgage servicing intangibles		—		—		1,004		1,004

The changes in Level 3 assets measured at estimated fair value on a recurring basis during the three months ended March 31, 2013 and 2012 were as follows:

	Three Months Ended March 31,
	2013			2012
	(Dollars in thousands)
Balance at the beginning of the year	$	10,779		$	13,225
Purchases, issuances and settlements		116			173
Sales		(15	)		(4,928	)
(Losses) gains included in earnings		(30	)		3,973
Total unrealized losses		(17	)		(2,066	)
Balance at the end of the period	$	10,833		$	10,377

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 three months ended March 31, 2013 and 2012, 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)
Three Months Ended March 31, 2013
Impaired loans (less specific allowance)		—		—	$	40,852	$	40,852	$	—
Foreclosed assets		—		—	$	326	$	326	$	13
Other real estate owned		—		—	$	9,098	$	9,098	$	(87	)
Three Months Ended March 31, 2012
Impaired loans (less specific allowance)		—		—	$	46,243	$	46,243	$	—
Foreclosed assets		—		—	$	403	$	403	$	(1	)
Other real estate owned		—		—	$	12,005	$	12,005	$	(154	)

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:

	March 31,
	2013					2012
	Carrying Amount			Fair Value		Carrying Amount			Fair Value
	(Dollars in thousands)
FINANCIAL ASSETS
Cash and cash equivalents	$	1,716,052		$	1,716,052	$	1,836,954		$	1,836,954
Securities held for investment		16,099			16,317		21,359			21,788
Loans:
Loans (net of unearned interest)		3,219,967					3,049,376
Allowance for loan losses		(38,664	)				(37,633	)
Loans, net		3,181,303			3,240,479		3,011,743			3,047,715
FINANCIAL LIABILITIES
Deposits		5,174,512			5,200,273		5,152,856			5,186,324
Short-term borrowings		4,891			4,891		7,323			7,323
Long-term borrowings		11,040			11,010		13,403			13,440
Junior subordinated debentures		26,804			31,093		36,083			39,289
OFF-BALANCE SHEET FINANCIAL INSTRUMENTS
Loan commitments					1,556					1,197
Letters of credit					469					463

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 (excluding mortgage service rights, which are valued quarterly) 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 March 31, 2013 or 2012.

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Derivative Financial Instruments (Details 2) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2013
Summary of the Company's net credit exposure relating to oil and gas swaps
Credit exposure	$ 840

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Segment Information (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012	Dec. 31, 2012
Results of operations and selected financial information
Net interest income (expense)	$ 40,256	$ 40,817
Noninterest income	22,535	23,437
Income before taxes	20,547	22,044
Total assets	5,773,926	5,737,994	6,022,250
Metropolitan Banks [Member]
Results of operations and selected financial information
Net interest income (expense)	14,011	13,163
Noninterest income	3,190	2,681
Income before taxes	8,937	8,432
Total assets	1,926,511	1,809,836	1,996,539
Community Banks [Member]
Results of operations and selected financial information
Net interest income (expense)	25,144	26,631
Noninterest income	11,545	10,135
Income before taxes	14,077	15,255
Total assets	3,627,011	3,760,533	3,801,653
Other Financial Services [Member]
Results of operations and selected financial information
Net interest income (expense)	1,565	1,713
Noninterest income	6,902	9,864
Income before taxes	3,237	6,387
Total assets	109,887	139,114	186,473
Executive, Operations and Support [Member]
Results of operations and selected financial information
Net interest income (expense)	(464)	(690)
Noninterest income	14,749	15,381
Income before taxes	8,094	6,533
Total assets	690,318	590,597	602,342
Eliminations [Member]
Results of operations and selected financial information
Noninterest income	(13,851)	(14,624)
Income before taxes	(13,798)	(14,563)
Total assets	$ (579,801)	$ (562,086)	$ (564,757)

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Derivative Financial Instruments (Details 1) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Recognized derivative income included in other noninterest income
Derivative income	$ 108	$ 209

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Securities (Details 4) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2013
Company's book value of pledged securities
Book value of pledged securities	$ 487,367

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Stock-Based Compensation (Details Textual)	3 Months Ended			3 Months Ended
	Mar. 31, 2013	Mar. 31, 2013 Incentive Stock Option Plan [Member]	May 31, 2011 Incentive Stock Option Plan [Member]	Mar. 31, 2013 Non-Employee Directors Stock Option Plan [Member]	May 31, 2009 Non-Employee Directors Stock Option Plan [Member]
Stock-Based Compensation (Textual) [Abstract]
Number of shares to be issued under incentive stock option plan			2,800,000		205,000
Shares for future grants		15,860		30,000
Option exercisable rate		25.00%		25.00%
Option exercisable period		4 years		4 years
Options expire period		15 years		15 years
Share based compensation options exercisable period		2019		2015
Minimum stock price at time of exercise of options, percentage		100.00%		100.00%
Vesting period in years		7 years
Options Exercisable Description		The options are exercisable beginning four years from the date of grant at the rate of 25% per year for four years.		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.
Stock option plan termination date		Dec. 31, 2014
Stock-Based Compensation (Additional Textual) [Abstract]
Number of options granted for non-employee director	10,000

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Loans and Allowance for Loan Losses (Tables)

3 Months Ended

Mar. 31, 2013

Loans and Allowance for Loan Losses [Abstract]

Schedule of loans outstanding by category

The following is a schedule of loans outstanding by category:

	March 31, 2013					December 31, 2012					March 31, 2012
	Amount		Percent			Amount		Percent			Amount		Percent
	(Dollars in thousands)
Commercial and industrial	$	518,438		16.10	%	$	559,274		17.25	%	$	526,028		17.25	%
Oil & gas production & equipment		154,392		4.79			154,380		4.76			129,710		4.25
Agriculture		96,094		2.98			93,274		2.88			90,659		2.97
State and political subdivisions:
Taxable		9,272		0.29			9,412		0.29			7,332		0.24
Tax-exempt		13,034		0.41			13,194		0.41			15,810		0.52
Real estate:
Construction		231,770		7.20			226,102		6.97			200,609		6.58
Farmland		124,347		3.86			125,033		3.86			107,751		3.53
One to four family residences		680,129		21.12			669,230		20.64			660,725		21.67
Multifamily residential properties		47,506		1.48			50,721		1.56			40,164		1.32
Commercial		1,084,864		33.69			1,068,445		32.95			1,004,596		32.94
Consumer		240,600		7.47			253,002		7.80			244,171		8.01
Other (not classified above)		19,521		0.61			20,360		0.63			21,821		0.72
Total loans	$	3,219,967		100.00	%	$	3,242,427		100.00	%	$	3,049,376		100.00	%
Loans held for sale (included above)	$	10,287				$	13,661				$	15,585

Summary of nonperforming and restructured assets

The following table is a summary of nonperforming and restructured assets:

	March 31,			December 31,			March 31,
	2013			2012			2012
	(Dollars in thousands)
Past due 90 days or more and still accruing	$	542		$	537		$	1,150
Nonaccrual		20,933			20,549			20,721
Restructured		17,792			17,866			18,483
Total nonperforming and restructured loans		39,267			38,952			40,354
Other real estate owned and repossessed assets		9,424			9,566			12,408
Total nonperforming and restructured assets	$	48,691		$	48,518		$	52,762
Nonperforming and restructured loans to total loans		1.22	%		1.20	%		1.32	%
Nonperforming and restructured assets to total assets		0.84	%		0.81	%		0.92	%

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

The following table is a summary of amounts included in nonaccrual loans, segregated by class of loans.

	March 31, 2013		March 31, 2012
	(Dollars in thousands)
Non-residential real estate	$	9,666	$	9,768
Residential real estate		4,335		4,754
Non-consumer non-real estate		1,449		1,425
Consumer non-real estate		187		143
Other loans		3,052		1,464
Acquired loans		2,244		3,167
Total	$	20,933	$	20,721

Age analysis of past due loans segregated by class of loans

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 March 31, 2013
Non-residential real estate	$	3,293	$	1,945	$	5,238	$	1,238,804	$	1,244,042	$	18
Residential real estate		4,438		868		5,306		768,487		773,793		268
Non-consumer non-real estate		2,100		214		2,314		748,287		750,601		74
Consumer non-real estate		1,994		184		2,178		209,142		211,320		126
Other loans		2,152		1,406		3,558		140,468		144,026		—
Acquired loans		1,993		328		2,321		93,864		96,185		56
Total	$	15,970	$	4,945	$	20,915	$	3,199,052	$	3,219,967	$	542
As of March 31, 2012
Non-residential real estate	$	3,924	$	849	$	4,773	$	1,097,141	$	1,101,914	$	192
Residential real estate		3,218		1,915		5,133		690,937		696,070		436
Non-consumer non-real estate		1,311		633		1,944		723,144		725,088		132
Consumer non-real estate		1,767		220		1,987		198,221		200,208		195
Other loans		1,414		1,352		2,766		160,722		163,488		59
Acquired loans		2,707		934		3,641		158,967		162,608		136
Total	$	14,341	$	5,903	$	20,244	$	3,029,132	$	3,049,376	$	1,150

Impaired loans, segregated by class of loans

The following table presents 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 March 31, 2013
Non-residential real estate	$	27,949	$	26,417	$	2,185	$	26,814
Residential real estate		6,079		5,472		1,337		4,847
Non-consumer non-real estate		1,899		1,565		452		2,249
Consumer non-real estate		441		421		96		408
Other loans		3,736		3,094		267		2,648
Acquired loans		10,311		8,261		41		8,893
Total	$	50,415	$	45,230	$	4,378	$	45,859
As of March 31, 2012
Non-residential real estate	$	28,420	$	27,558	$	2,235	$	22,887
Residential real estate		6,185		5,695		1,432		5,557
Non-consumer non-real estate		2,062		1,748		605		1,664
Consumer non-real estate		567		477		65		452
Other loans		1,880		1,524		320		2,666
Acquired loans		16,850		14,173		275		15,780
Total	$	55,964	$	51,175	$	4,932	$	49,006

Internal loan grading by class of loans

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 March 31, 2013
Non-residential real estate	$	1,043,069	$	165,295	$	25,994	$	9,684	$	—	$	1,244,042
Residential real estate		670,352		84,644		14,140		4,657		—		773,793
Non-consumer non-real estate		647,162		97,110		4,800		1,529		—		750,601
Consumer non-real estate		198,107		10,912		1,923		374		4		211,320
Other loans		139,696		2,304		1,103		923		—		144,026
Acquired loans		74,939		14,936		4,009		2,301		—		96,185
Total	$	2,773,325	$	375,201	$	51,969	$	19,468	$	4	$	3,219,967
As of March 31, 2012
Non-residential real estate.	$	951,016	$	112,408	$	28,721	$	9,769	$	—	$	1,101,914
Residential real estate		591,818		83,250		15,579		5,423		—		696,070
Non-consumer non-real estate		636,582		79,548		7,480		1,478		—		725,088
Consumer non-real estate		187,999		9,690		2,132		387		—		200,208
Other loans		158,729		2,775		1,725		259		—		163,488
Acquired loans		119,165		31,319		8,901		3,223		—		162,608
Total	$	2,645,309	$	318,990	$	64,538	$	20,539	$	—	$	3,049,376

Activity in ALLL by class of loans

The following table details activity in the ALLL by class of loans for the period presented.

	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 March 31, 2013
Allowance for loan losses:
Balance at December 31, 2012	$	14,969		$	9,815		$	9,385		$	2,451		$	1,885		$	220		$	38,725
Charge-offs		(18	)		(151	)		(36	)		(140	)		(139	)		(49	)		(533	)
Recoveries		19			13			31			76			—			33			172
Net charge-offs		1			(138	)		(5	)		(64	)		(139	)		(16	)		(361	)
Provisions charged to operations		361			244			(398	)		(3	)		76			20			300
Balance at March 31, 2013	$	15,331		$	9,921		$	8,982		$	2,384		$	1,822		$	224		$	38,664
Allowance for loan losses-ending balances:
Individually evaluated for impairment	$	2,694		$	2,123		$	1,211		$	290		$	199		$	—		$	6,517
Collectively evaluated for impairment		12,637			7,798			7,771			2,094			1,623			224			32,147
Balance at March 31, 2013	$	15,331		$	9,921		$	8,982		$	2,384		$	1,822		$	224		$	38,664
Loans-Ending balances:
Individually evaluated for impairment	$	35,678		$	18,797		$	6,329		$	2,301		$	246		$	—		$	63,351
Collectively evaluated for impairment		1,208,364			754,996			744,272			209,019			143,780			89,875			3,150,306
Loans acquired with deteriorated credit quality		—			—			—			—			—			6,310			6,310
Balance at March 31, 2013	$	1,244,042		$	773,793		$	750,601		$	211,320		$	144,026		$	96,185		$	3,219,967
Three Months Ended March 31, 2012
Allowance for loan losses:
Balance at December 31, 2011	$	13,948		$	9,764		$	9,156		$	2,315		$	1,886		$	587		$	37,656
Charge-offs		(121	)		(36	)		(17	)		(114	)		(180	)		(64	)		(532	)
Recoveries		37			96			98			84			19			2			336
Net charge-offs		(84	)		60			81			(30	)		(161	)		(62	)		(196	)
Provisions charged to operations		245			(62	)		(39	)		(2	)		125			(94	)		173
Balance at March 31, 2012	$	14,109		$	9,762		$	9,198		$	2,283		$	1,850		$	431		$	37,633
Allowance for loan losses-ending balances:
Individually evaluated for impairment	$	3,085		$	2,692		$	1,741		$	300		$	183		$	—		$	8,001
Collectively evaluated for impairment		11,024			7,070			7,457			1,983			1,667			431			29,632
Balance at March 31, 2012	$	14,109		$	9,762		$	9,198		$	2,283		$	1,850		$	431		$	37,633
Loans-Ending balances:
Individually evaluated for impairment	$	38,489		$	21,002		$	8,958		$	2,519		$	147		$	—		$	71,115
Collectively evaluated for impairment		1,063,425			675,068			716,130			197,689			163,341			150,484			2,966,137
Loans acquired with deteriorated credit quality		—			—			—			—			—			12,124			12,124
Balance at March 31, 2012	$	1,101,914		$	696,070		$	725,088		$	200,208		$	163,488		$	162,608		$	3,049,376

Transfers from loans to other real estate owned and repossessed assets

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

	Three Months Ended March  31,
	2013		2012
	(Dollars in thousands)
Other real estate owned	$	436	$	659
Repossessed assets		209		180
Total	$	645	$	839

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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2013

Fair Value Measurements [Abstract]

Fair value of financial assets and liabilities measured on recurring basis

The following table summarizes financial assets and financial liabilities measured at fair value on a recurring basis as of March 31, 2013 and 2012, 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)
March 31, 2013
Securities available for sale	$	20,304	$	518,963	$	10,124	$	549,391
Derivative assets		—		3,424		—		3,424
Derivative liabilities		—		1,658		—		1,658
Loans held for sale		—		10,287		—		10,287
Mortgage servicing intangibles		—		—		709		709
March 31, 2012
Securities available for sale	$	—	$	543,069	$	9,373	$	552,442
Derivative assets		—		10,578		—		10,578
Derivative liabilities		—		8,576		—		8,576
Loans held for sale		—		15,585		—		15,585
Mortgage servicing intangibles		—		—		1,004		1,004

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

The changes in Level 3 assets measured at estimated fair value on a recurring basis during the three months ended March 31, 2013 and 2012 were as follows:

	Three Months Ended March 31,
	2013			2012
	(Dollars in thousands)
Balance at the beginning of the year	$	10,779		$	13,225
Purchases, issuances and settlements		116			173
Sales		(15	)		(4,928	)
(Losses) gains included in earnings		(30	)		3,973
Total unrealized losses		(17	)		(2,066	)
Balance at the end of the period	$	10,833		$	10,377

Assets measured at fair value on a nonrecurring basis

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)
Three Months Ended March 31, 2013
Impaired loans (less specific allowance)		—		—	$	40,852	$	40,852	$	—
Foreclosed assets		—		—	$	326	$	326	$	13
Other real estate owned		—		—	$	9,098	$	9,098	$	(87	)
Three Months Ended March 31, 2012
Impaired loans (less specific allowance)		—		—	$	46,243	$	46,243	$	—
Foreclosed assets		—		—	$	403	$	403	$	(1	)
Other real estate owned		—		—	$	12,005	$	12,005	$	(154	)

Estimated fair values of company's financial instruments

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

	March 31,
	2013					2012
	Carrying Amount			Fair Value		Carrying Amount			Fair Value
	(Dollars in thousands)
FINANCIAL ASSETS
Cash and cash equivalents	$	1,716,052		$	1,716,052	$	1,836,954		$	1,836,954
Securities held for investment		16,099			16,317		21,359			21,788
Loans:
Loans (net of unearned interest)		3,219,967					3,049,376
Allowance for loan losses		(38,664	)				(37,633	)
Loans, net		3,181,303			3,240,479		3,011,743			3,047,715
FINANCIAL LIABILITIES
Deposits		5,174,512			5,200,273		5,152,856			5,186,324
Short-term borrowings		4,891			4,891		7,323			7,323
Long-term borrowings		11,040			11,010		13,403			13,440
Junior subordinated debentures		26,804			31,093		36,083			39,289
OFF-BALANCE SHEET FINANCIAL INSTRUMENTS
Loan commitments					1,556					1,197
Letters of credit					469					463

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Stock-Based Compensation (Details 3) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2013
Remaining fair value of stock options
Fair value of stock options	$ 5,103

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Loans and Allowance for Loan Losses (Details 5) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2013	Dec. 31, 2012	Mar. 31, 2012
Internal loan grading by class of loans
Total loans	$ 3,219,967	$ 3,242,427	$ 3,049,376
Grade 1 [Member]
Internal loan grading by class of loans
Total loans	2,773,325		2,645,309
Grade 2 [Member]
Internal loan grading by class of loans
Total loans	375,201		318,990
Grade 3 [Member]
Internal loan grading by class of loans
Total loans	51,969		64,538
Grade 4 [Member]
Internal loan grading by class of loans
Total loans	19,468		20,539
Grade 5 [Member]
Internal loan grading by class of loans
Total loans	4
Non-residential real estate [Member]
Internal loan grading by class of loans
Total loans	1,244,042		1,101,914
Non-residential real estate [Member] | Grade 1 [Member]
Internal loan grading by class of loans
Total loans	1,043,069		951,016
Non-residential real estate [Member] | Grade 2 [Member]
Internal loan grading by class of loans
Total loans	165,295		112,408
Non-residential real estate [Member] | Grade 3 [Member]
Internal loan grading by class of loans
Total loans	25,994		28,721
Non-residential real estate [Member] | Grade 4 [Member]
Internal loan grading by class of loans
Total loans	9,684		9,769
Non-residential real estate [Member] | Grade 5 [Member]
Internal loan grading by class of loans
Total loans
Residential real estate [Member]
Internal loan grading by class of loans
Total loans	773,793		696,070
Residential real estate [Member] | Grade 1 [Member]
Internal loan grading by class of loans
Total loans	670,352		591,818
Residential real estate [Member] | Grade 2 [Member]
Internal loan grading by class of loans
Total loans	84,644		83,250
Residential real estate [Member] | Grade 3 [Member]
Internal loan grading by class of loans
Total loans	14,140		15,579
Residential real estate [Member] | Grade 4 [Member]
Internal loan grading by class of loans
Total loans	4,657		5,423
Residential real estate [Member] | Grade 5 [Member]
Internal loan grading by class of loans
Total loans
Non-consumer non-real estate [Member]
Internal loan grading by class of loans
Total loans	750,601		725,088
Non-consumer non-real estate [Member] | Grade 1 [Member]
Internal loan grading by class of loans
Total loans	647,162		636,582
Non-consumer non-real estate [Member] | Grade 2 [Member]
Internal loan grading by class of loans
Total loans	97,110		79,548
Non-consumer non-real estate [Member] | Grade 3 [Member]
Internal loan grading by class of loans
Total loans	4,800		7,480
Non-consumer non-real estate [Member] | Grade 4 [Member]
Internal loan grading by class of loans
Total loans	1,529		1,478
Non-consumer non-real estate [Member] | Grade 5 [Member]
Internal loan grading by class of loans
Total loans
Consumer non-real estate [Member]
Internal loan grading by class of loans
Total loans	211,320		200,208
Consumer non-real estate [Member] | Grade 1 [Member]
Internal loan grading by class of loans
Total loans	198,107		187,999
Consumer non-real estate [Member] | Grade 2 [Member]
Internal loan grading by class of loans
Total loans	10,912		9,690
Consumer non-real estate [Member] | Grade 3 [Member]
Internal loan grading by class of loans
Total loans	1,923		2,132
Consumer non-real estate [Member] | Grade 4 [Member]
Internal loan grading by class of loans
Total loans	374		387
Consumer non-real estate [Member] | Grade 5 [Member]
Internal loan grading by class of loans
Total loans	4
Other loans [Member]
Internal loan grading by class of loans
Total loans	144,026		163,488
Other loans [Member] | Grade 1 [Member]
Internal loan grading by class of loans
Total loans	139,696		158,729
Other loans [Member] | Grade 2 [Member]
Internal loan grading by class of loans
Total loans	2,304		2,775
Other loans [Member] | Grade 3 [Member]
Internal loan grading by class of loans
Total loans	1,103		1,725
Other loans [Member] | Grade 4 [Member]
Internal loan grading by class of loans
Total loans	923		259
Other loans [Member] | Grade 5 [Member]
Internal loan grading by class of loans
Total loans
Acquired loans [Member]
Internal loan grading by class of loans
Total loans	96,185		162,608
Acquired loans [Member] | Grade 1 [Member]
Internal loan grading by class of loans
Total loans	74,939		119,165
Acquired loans [Member] | Grade 2 [Member]
Internal loan grading by class of loans
Total loans	14,936		31,319
Acquired loans [Member] | Grade 3 [Member]
Internal loan grading by class of loans
Total loans	4,009		8,901
Acquired loans [Member] | Grade 4 [Member]
Internal loan grading by class of loans
Total loans	2,301		3,223
Acquired loans [Member] | Grade 5 [Member]
Internal loan grading by class of loans
Total loans

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Consolidated Statements of Comprehensive Income (Parenthetical) (Unaudited) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Consolidated Statements of Comprehensive Income [Abstract]
Unrealized losses on securities, tax	$ 226	$ 318
Reclassification adjustment, tax	5	723
Other comprehensive loss, tax	$ 231	$ 1,041

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Securities

3 Months Ended

Mar. 31, 2013

Securities [Abstract]

SECURITIES

(3) SECURITIES

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

	March 31, 2013
	(Dollars in thousands)
Held for investment, at cost (fair value: $16,317)	$	16,099
Available for sale, at fair value		549,391
Total	$	565,490

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

	March 31, 2013
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
	(Dollars in thousands)
Mortgage backed securities (1)	$	740	$	56	$	—		$	796
States and political subdivisions		15,359		170		(8	)		15,521
Total	$	16,099	$	226	$	(8	)	$	16,317

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

	March 31, 2013
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
	(Dollars in thousands)
U.S. treasury and other Federal agencies	$	459,301	$	3,233	$	(155	)	$	462,379
Mortgage backed securities (1)		17,212		764		(2	)		17,974
States and political subdivisions		52,858		2,646		(11	)		55,493
Other securities (2)		10,965		2,580		—			13,545
Total	$	540,336	$	9,223	$	(168	)	$	549,391

(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.

	March 31, 2013
	Amortized Cost		Estimated Fair Value
	(Dollars in thousands)
Held for Investment
Contractual maturity of debt securities:
Within one year	$	4,590	$	4,627
After one year but within five years		9,898		9,999
After five years but within ten years		1,179		1,212
After ten years		432		479
Total	$	16,099	$	16,317
Available for Sale
Contractual maturity of debt securities:
Within one year	$	191,802	$	192,015
After one year but within five years		219,323		221,790
After five years but within ten years		34,426		35,851
After ten years		87,206		89,611
Total debt securities		532,757		539,267
Equity securities		7,579		10,124
Total	$	540,336	$	549,391

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:

	March 31, 2013
	(Dollars in thousands)
Book value of pledged securities	$	487,367

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Fair Value Measurements (Details 1) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Changes in level 3 assets measured at estimated fair value on a recurring basis
Balance at the beginning of the year	$ 10,779	$ 13,225
Purchases, issuances and settlements	116	173
Sales	(15)	(4,928)
(Losses) gains included in earnings	(30)	3,973
Total unrealized losses	(17)	(2,066)
Balance at the end of the period	$ 10,833	$ 10,377

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Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2013

Derivative Financial Instruments [Abstract]

Notional amounts and estimated fair values of outstanding derivative positions

The notional amounts and estimated fair values of oil and gas derivative positions outstanding are presented in the following table:

	March 31, 2013
Oil and Natural Gas Swaps and Options	Notional Units	Notional Amount			Estimated Fair  Value
	(Notional amounts and dollars in thousands)
Oil
Derivative assets	Barrels		877		$	2,174
Derivative liabilities	Barrels		(877	)		(1,215	)
Natural Gas
Derivative assets	MMBTUs		4,653			1,250
Derivative liabilities	MMBTUs		(4,653	)		(443	)
Total Fair Value	Included in
Derivative assets	Other assets					3,424
Derivative liabilities	Other liabilities					1,658

Recognized derivative income included in other noninterest income

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 March 31,
	2013		2012
	(Dollars in thousands)
Derivative income	$	108	$	209

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

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

	March 31, 2013
	(Dollars in thousands)
Credit exposure	$	840

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Loans and Allowance for Loan Losses (Details 2) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2013	Dec. 31, 2012	Mar. 31, 2012
Summary of amounts included in nonaccrual loans segregated by class of loans
Nonaccrual loans, Total	$ 20,933	$ 20,549	$ 20,721
Non-residential real estate [Member]
Summary of amounts included in nonaccrual loans segregated by class of loans
Nonaccrual loans, Total	9,666		9,768
Residential real estate [Member]
Summary of amounts included in nonaccrual loans segregated by class of loans
Nonaccrual loans, Total	4,335		4,754
Non-consumer non-real estate [Member]
Summary of amounts included in nonaccrual loans segregated by class of loans
Nonaccrual loans, Total	1,449		1,425
Consumer non-real estate [Member]
Summary of amounts included in nonaccrual loans segregated by class of loans
Nonaccrual loans, Total	187		143
Other loans [Member]
Summary of amounts included in nonaccrual loans segregated by class of loans
Nonaccrual loans, Total	3,052		1,464
Acquired loans [Member]
Summary of amounts included in nonaccrual loans segregated by class of loans
Nonaccrual loans, Total	$ 2,244		$ 3,167

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Securities (Tables)

3 Months Ended

Mar. 31, 2013

Securities [Abstract]

Summarizes securities held for investment and securities available for sale

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

	March 31, 2013
	(Dollars in thousands)
Held for investment, at cost (fair value: $16,317)	$	16,099
Available for sale, at fair value		549,391
Total	$	565,490

Summarizes amortized cost and estimated fair values of securities held for investment

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

	March 31, 2013
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
	(Dollars in thousands)
Mortgage backed securities (1)	$	740	$	56	$	—		$	796
States and political subdivisions		15,359		170		(8	)		15,521
Total	$	16,099	$	226	$	(8	)	$	16,317

Summarizes amortized cost and estimated fair values of securities available for sale

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

	March 31, 2013
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
	(Dollars in thousands)
U.S. treasury and other Federal agencies	$	459,301	$	3,233	$	(155	)	$	462,379
Mortgage backed securities (1)		17,212		764		(2	)		17,974
States and political subdivisions		52,858		2,646		(11	)		55,493
Other securities (2)		10,965		2,580		—			13,545
Total	$	540,336	$	9,223	$	(168	)	$	549,391

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

(2) Primarily consists of equity securities.

Maturity of securities

The maturities of securities held for investment and available for sale are summarized in the following table using contractual maturities.

	March 31, 2013
	Amortized Cost		Estimated Fair Value
	(Dollars in thousands)
Held for Investment
Contractual maturity of debt securities:
Within one year	$	4,590	$	4,627
After one year but within five years		9,898		9,999
After five years but within ten years		1,179		1,212
After ten years		432		479
Total	$	16,099	$	16,317
Available for Sale
Contractual maturity of debt securities:
Within one year	$	191,802	$	192,015
After one year but within five years		219,323		221,790
After five years but within ten years		34,426		35,851
After ten years		87,206		89,611
Total debt securities		532,757		539,267
Equity securities		7,579		10,124
Total	$	540,336	$	549,391

Company's book value of pledged securities

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:

	March 31, 2013
	(Dollars in thousands)
Book value of pledged securities	$	487,367