Stock-Based Compensation (Tables)

9 Months Ended

Sep. 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)
Nine Months Ended September 30, 2015
Outstanding at December 31, 2014		1,029,657		$	36.55
Options granted		108,000			59.84
Options exercised		(86,482	)		24.65
Options canceled, forfeited, or expired		(22,500	)		37.14
Outstanding at September 30, 2015		1,028,675			39.98		8.82	$	23,782
Exercisable at September 30, 2015		474,500			32.17	5.28 Yr		$	14,677

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 September 30,				Nine Months Ended September 30,
	2015		2014		2015		2014
	(Dollars in thousands)
Weighted average grant-date fair value per share of options granted	$	11.89	$	12.75	$	11.55	$	12.57
Total intrinsic value of options exercised		1,129		1,560		3,258		3,606
Cash received from options exercised		779		1,605		2,132		3,247
Tax benefit realized from options exercised		437		604		1,260		1,395

Stock-based Employee Compensation Expense

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

	Three Months Ended September 30,				Nine Months Ended September 30,
	2015		2014		2015		2014
	(Dollars in thousands)
Stock-based compensation expense	$	489	$	448	$	1,243	$	1,224
Tax benefit		189		173		481		473
Stock-based compensation expense, net of tax	$	300	$	275	$	762	$	751

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:

	September 30, 2015
	(Dollars in thousands)
Fair value of stock options	$	4,186

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:

	Nine Months Ended September 30,
	2015	2014
Risk-free interest rate	1.83 to 2.26%	2.50 to 2.54%
Dividend yield	2.00%	2.00%
Stock price volatility	18.23 to 19.65%	18.62 to 18.98%
Expected term	10 Yrs	10 Yrs