STOCK-BASED COMPENSATION (Tables)

6 Months Ended

Jun. 30, 2014

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of 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)
Six Months Ended June 30, 2014
Outstanding at December 31, 2013		1,158,317		$	34.45
Options granted		10,000			58.61
Options exercised		(63,625	)		25.80
Options canceled, forfeited, or expired		—			—
Outstanding at June 30, 2014		1,104,692			35.16		8.62Yr	$	29,667
Exercisable at June 30, 2014		516,042			28.77		4.98Yr	$	17,094

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 June 30,				Six Months Ended June 30,
	2014		2013		2014		2013
	(Dollars in thousands, except per share data)
Weighted average grant-date fair value per share of options granted	$	12.33	$	8.74	$	12.33	$	8.74
Total intrinsic value of options exercised		1,301		1,024		2,046		1,230
Cash received from options exercised		776		1,059		1,642		1,201
Tax benefit realized from options exercised		503		396		791		476

Stock-based Employee Compensation Expense

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

	Three Months Ended June 30,						Six Months Ended June 30,
	2014			2013			2014			2013
	(Dollars in thousands)
Stock-based compensation expense	$	429		$	321		$	776		$	695
Tax benefit		(166	)		(124	)		(300	)		(269	)
Stock-based compensation expense, net of tax	$	263		$	197		$	476		$	426

Remaining Fair Value of Stock Options

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

	June 30, 2014
	(Dollars in thousands)
Fair value of stock options	$	4,549

Assumptions Used for Computing Stock-based Compensation Expense

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

	Six Months Ended June 30,
	2014			2013
Risk-free interest rate		2.54	%		2.53	%
Dividend yield		2.00	%		2.00	%
Stock price volatility		18.98	%		18.36	%
Expected term		10Yrs			10Yrs