Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 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)
Six Months Ended June 30, 2015
Outstanding at December 31, 2014		1,029,657		$	36.55
Options granted		98,000			60.02
Options exercised		(57,250	)		23.64
Options canceled, forfeited, or expired		(22,500	)		37.14
Outstanding at June 30, 2015		1,047,907			39.44	8.88 Yr	$	27,260
Exercisable at June 30, 2015		475,682			31.54	5.21 Yr	$	16,131

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,
	2015		2014		2015		2014
	(Dollars in thousands)
Weighted average grant-date fair value per share of options granted	$	12.07	$	12.33	$	11.51	$	12.33
Total intrinsic value of options exercised		1,892		1,301		2,129		2,046
Cash received from options exercised		1,109		776		1,353		1,642
Tax benefit realized from options exercised		731		503		823		791

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,
	2015		2014		2015		2014
	(Dollars in thousands)
Stock-based compensation expense	$	290	$	429	$	754	$	776
Tax benefit		112		166		292		300
Stock-based compensation expense, net of tax	$	178	$	263	$	462	$	476

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, 2015
	(Dollars in thousands)
Fair value of stock options	$	4,459

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:

	Six Months Ended June 30,
	2015	2014
Risk-free interest rate	1.83 to 2.26%	2.54%
Dividend yield	2.00%	2.00%
Stock price volatility	18.23 to 19.22%	18.98%
Expected term	10 Yrs	10 Yrs