Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2016

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 option data)
Six Months Ended June 30, 2016
Outstanding at December 31, 2015		1,018,149		$	40.69
Options granted		25,000			56.44
Options exercised		(61,299	)		30.61
Options canceled, forfeited, or expired		(15,000	)		51.51
Outstanding at June 30, 2016		966,850			41.57	8.76 Yrs	$	18,125
Exercisable at June 30, 2016		476,175			33.92	5.62 Yrs	$	12,571

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,
	2016		2015		2016		2015
	(Dollars in thousands except per share data)
Weighted average grant-date fair value per share of options granted	$	11.29	$	12.07	$	11.40	$	11.51
Total intrinsic value of options exercised		891		1,892		1,670		2,129
Cash received from options exercised		1,001		1,109		1,876		1,353
Tax benefit realized from options exercised		345		731		646		823

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,
	2016		2015		2016		2015
	(Dollars in thousands)
Stock-based compensation expense	$	450	$	290	$	901	$	754
Tax benefit		174		112		348		292
Stock-based compensation expense, net of tax	$	276	$	178	$	553	$	462

Unearned Stock-based Compensation Expense

The Company will continue to amortize the unearned stock-based compensation expense over the remaining vesting period of approximately seven years.  The following table shows the unearned stock-based compensation expense:

	June 30, 2016
	(Dollars in thousands)
Unearned stock-based compensation expense	$	3,462

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,
	2016	2015
Risk-free interest rate	1.46 to 2.02%	1.83 to 2.26%
Dividend yield	2.00%	2.00%
Stock price volatility	20.41 to 20.64%	18.23 to 19.22%
Expected term	10 Yrs	10 Yrs

Summary of Accumulated Stock Units

A summary of the accumulated stock units is as follows:

	June 30,		December 31,
	2016		2015
Accumulated stock units		68,306		66,376
Average price	$	40.65	$	39.64