Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2015

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:

						Wgtd. Avg.
				Wgtd. Avg.		Remaining	Aggregate
				Exercise		Contractual	Intrinsic
	Options			Price		Term	Value
	(Dollars in thousands, except per share data)
Three Months Ended March 31, 2015
Outstanding at December 31, 2014		1,029,657		$	36.55
Options granted		35,000			57.27
Options exercised		(8,032	)		30.42
Options canceled, forfeited, or expired		(15,000	)		36.96
Outstanding at March 31, 2015		1,041,625			37.29	8.52 Yr	$	24,680
Exercisable at March 31, 2015		503,900			30.27	5.05 Yr	$	15,474

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,
	2015		2014
	(Dollars in thousands)
Weighted average grant-date fair value per share of options granted	$	11	$	—
Total intrinsic value of options exercised		237		745
Cash received from options exercised		244		865
Tax benefit realized from options exercised		92		288

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,
	2015		2014
	(Dollars in thousands)
Stock-based compensation expense	$	464	$	347
Tax benefit		180		134
Stock-based compensation expense, net of tax	$	284	$	213

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:

	March 31, 2015
	(Dollars in thousands)
Fair value of stock options	$	4,210

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 during the periods presented:

	Three Months Ended March 31,
	2015	2014
Risk-free interest rate	1.83 to 1.96%		—
Dividend yield	2.00%		—
Stock price volatility	18.23 to 18.50%		—
Expected term	10 Yrs		—