10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OFTHE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2016

OR

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OFTHE SECURITIES EXCHANGE ACT OF 1934

For the transition period from                         to

Commission File Number 0-14384

BancFirst Corporation

(Exact name of registrant as specified in charter)

Oklahoma	73-1221379
(State or other Jurisdiction of	(I.R.S. Employer
incorporation or organization)	Identification No.)

101 N. Broadway, Oklahoma City, Oklahoma	73102-8405
(Address of principal executive offices)	(Zip Code)

(405) 270-1086

(Registrant’s telephone number, including area code)

N/A

(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  ☒    No  ☐.

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (sec. 232-405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes  ☒    No  ☐.

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer.  See definition of “accelerated filer and large accelerated filer” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	☐	Accelerated filer	☒
Non-accelerated filer	☐  (Do not check if a smaller reporting company)	Smaller reporting company	☐

Indicate by check mark whether the registrant is a shell company (as defined by Rule 12b-2 of the Exchange Act).    Yes  ☐    No  ☒

As of October 31, 2016 there were 15,708,383 shares of the registrant’s Common Stock outstanding.

PART I – FINANCIAL INFORMATION

Item 1. Financial Statements.

BANCFIRST CORPORATION

CONSOLIDATED BALANCE SHEETS

(Dollars in thousands)

	September 30,			December 31,
		2016			2015
	(unaudited)			(see Note 1)
ASSETS
Cash and due from banks	$	174,061		$	203,364
Interest-bearing deposits with banks		1,532,095			1,394,813
Federal funds sold		500			—
Securities (fair value: $473,785 and $553,010, respectively)		473,738			552,949
Loans held for sale		9,685			13,725
Loans (net of unearned interest)		4,307,827			4,232,048
Allowance for loan losses		(48,061	)		(41,666	)
Loans, net of allowance for loan losses		4,259,766			4,190,382
Premises and equipment, net		126,415			126,813
Other real estate owned		4,038			7,984
Intangible assets, net		13,898			15,695
Goodwill		54,042			54,042
Accrued interest receivable and other assets		135,299			133,062
Total assets	$	6,783,537		$	6,692,829
LIABILITIES AND STOCKHOLDERS' EQUITY
Deposits:
Noninterest-bearing	$	2,477,107		$	2,409,769
Interest-bearing		3,547,842			3,563,589
Total deposits		6,024,949			5,973,358
Short-term borrowings		4,000			500
Accrued interest payable and other liabilities		28,898			31,502
Junior subordinated debentures		31,959			31,959
Total liabilities		6,089,806			6,037,319
Stockholders' equity:
Senior preferred stock, $1.00 par; 10,000,000 shares authorized; none issued		—			—
Cumulative preferred stock, $5.00 par; 900,000 shares authorized; none issued		—			—
Common stock, $1.00 par, 20,000,000 shares authorized; shares issued and    outstanding: 15,695,083 and 15,597,446, respectively		15,695			15,597
Capital surplus		111,012			102,865
Retained earnings		565,039			535,521
Accumulated other comprehensive income, net of income tax of $1,252 and $962, respectively		1,985			1,527
Total stockholders' equity		693,731			655,510
Total liabilities and stockholders' equity	$	6,783,537		$	6,692,829

The accompanying Notes are an integral part of these consolidated financial statements.

2

BANCFIRST CORPORATION

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Unaudited)

(Dollars in thousands, except per share data)

	Three Months Ended					Nine Months Ended
	September 30,					September 30,
		2016			2015		2016			2015
INTEREST INCOME
Loans, including fees	$	51,647		$	47,342	$	152,888		$	139,781
Securities:
Taxable		1,242			1,291		3,913			4,148
Tax-exempt		248			249		746			730
Federal funds sold		1			—		1			—
Interest-bearing deposits with banks		1,968			1,009		5,622			3,137
Total interest income		55,106			49,891		163,170			147,796
INTEREST EXPENSE
Deposits		3,149			2,522		9,321			7,602
Short-term borrowings		2			1		5			3
Junior subordinated debentures		524			492		1,569			1,474
Total interest expense		3,675			3,015		10,895			9,079
Net interest income		51,431			46,876		152,275			138,717
Provision for loan losses		2,940			1,424		9,847			4,029
Net interest income after provision for loan losses		48,491			45,452		142,428			134,688
NONINTEREST INCOME
Trust revenue		2,685			2,295		7,752			6,837
Service charges on deposits		16,033			14,910		46,228			42,574
Securities transactions (includes accumulated other comprehensive income reclassifications of $(85), $0, $15 and $3,912, respectively)		(146	)		—		(111	)		7,121
Income from sales of loans		863			545		2,120			1,534
Insurance commissions		4,372			4,427		11,762			11,615
Cash management		2,853			1,906		7,903			5,611
Gain on sale of other assets		2			27		61			108
Other		1,265			1,214		3,886			3,935
Total noninterest income		27,927			25,324		79,601			79,335
NONINTEREST EXPENSE
Salaries and employee benefits		30,591			28,746		89,956			84,145
Occupancy, net		3,217			3,051		9,115			8,586
Depreciation		2,556			2,488		7,653			7,401
Amortization of intangible assets		560			444		1,721			1,333
Data processing services		1,178			1,132		3,567			3,428
Net expense (income) from other real estate owned		162			51		(944	)		181
Marketing and business promotion		1,779			1,640		5,258			4,720
Deposit insurance		641			820		2,335			2,482
Other		8,520			7,980		24,554			24,428
Total noninterest expense		49,204			46,352		143,215			136,704
Income before taxes		27,214			24,424		78,814			77,319
Income tax expense		9,232			8,794		26,760			26,877
Net income	$	17,982		$	15,630	$	52,054		$	50,442
NET INCOME PER COMMON SHARE
Basic	$	1.15		$	1.01	$	3.34		$	3.25
Diluted	$	1.13		$	0.98	$	3.28		$	3.18
OTHER COMPREHENSIVE INCOME
Unrealized (losses) gains on securities, net of tax of $423, $(91), $(296) and $(507), respectively		(670	)		145		467			803
Reclassification adjustment for losses (gains) included in net income, net of tax of $(33), $0, $6 and $1,513, respectively		52			—		(9	)		(2,399	)
Other comprehensive (losses) gains, net of tax of $390, $(91), $(290) and $1,006, respectively		(618	)		145		458			(1,596	)
Comprehensive income	$	17,364		$	15,775	$	52,512		$	48,846

The accompanying Notes are an integral part of these consolidated financial statements.

3

BANCFIRST CORPORATION

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY

(Unaudited)

(Dollars in thousands)

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2016			2015			2016			2015
COMMON STOCK
Issued at beginning of period	$	15,560		$	15,562		$	15,597		$	15,504
Shares issued		135			29			198			87
Shares acquired and canceled		—			—			(100	)		—
Issued at end of period	$	15,695		$	15,591		$	15,695		$	15,591
CAPITAL SURPLUS
Balance at beginning of period	$	105,676		$	99,202		$	102,865		$	96,841
Common stock issued		3,767			749			5,634			2,065
Tax effect of stock options		1,204			395			1,247			686
Stock-based compensation arrangements		365			489			1,266			1,243
Balance at end of period	$	111,012		$	100,835		$	111,012		$	100,835
RETAINED EARNINGS
Balance at beginning of period	$	552,991		$	517,028		$	535,521		$	492,776
Net income		17,982			15,630			52,054			50,442
Dividends on common stock ($0.38, $0.36, $1.10 and $1.04 per share, respectively)		(5,934	)		(5,620	)		(17,113	)		(16,180	)
Common stock acquired and canceled		—			—			(5,423	)		—
Balance at end of period	$	565,039		$	527,038		$	565,039		$	527,038
ACCUMULATED OTHER COMPREHENSIVE INCOME
Unrealized gains on securities:
Balance at beginning of period	$	2,603		$	2,452		$	1,527		$	4,193
Net change		(618	)		145			458			(1,596	)
Balance at end of period	$	1,985		$	2,597		$	1,985		$	2,597
Total stockholders’ equity	$	693,731		$	646,061		$	693,731		$	646,061

The accompanying Notes are an integral part of these consolidated financial statements.

4

BANCFIRST CORPORATION

CONSOLIDATED STATEMENTS OF CASH FLOW

(Unaudited)

(Dollars in thousands)

	Nine Months Ended
	September 30,
	2016			2015
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	52,054		$	50,442
Adjustments to reconcile to net cash provided by operating activities:
Provision for loan losses		9,847			4,029
Depreciation and amortization		9,374			8,734
Net amortization of securities premiums and discounts		161			747
Realized securities losses (gains)		111			(7,121	)
Gain on sales of loans		(2,120	)		(1,534	)
Cash receipts from the sale of loans originated for sale		143,044			132,957
Cash disbursements for loans originated for sale		(136,903	)		(134,396	)
Deferred income tax benefit		(3,069	)		(1,029	)
Gain on other assets		(1,294	)		(76	)
Increase in interest receivable		73			8
Decrease in interest payable		(22	)		(64	)
Amortization of stock-based compensation arrangements		1,266			1,243
Other, net		(1,684	)		4,797
Net cash provided by operating activities	$	70,838		$	58,737
INVESTING ACTIVITIES
Net increase in federal funds sold		(500	)	—
Purchases of held for investment securities		(806	)		(1,085	)
Purchases of available for sale securities		(78,592	)		(41,424	)
Proceeds from maturities, calls and paydowns of held for investment securities		5,039			1,344
Proceeds from maturities, calls and paydowns of available for sale securities		153,620			53,285
Proceeds from sales of available for sale securities		426			8,576
Net change in loans		(82,782	)		(113,740	)
Purchases of premises, equipment and computer software		(7,845	)		(9,535	)
Proceeds from the sale of other assets		8,740			4,324
Net cash used in investing activities		(2,700	)		(98,255	)
FINANCING ACTIVITIES
Net change in deposits		51,591			(206,113	)
Net increase/(decrease) in short-term borrowings		3,500			(205	)
Issuance of common stock, net		7,079			2,838
Common stock acquired		(5,523	)	—
Cash dividends paid		(16,806	)		(15,836	)
Net cash provided by (used in) financing activities		39,841			(219,316	)
Net increase/(decrease) in cash, due from banks and interest-bearing deposits		107,979			(258,834	)
Cash, due from banks and interest-bearing deposits at the beginning of the period		1,598,177			1,913,895
Cash, due from banks and interest-bearing deposits at the end of the period	$	1,706,156		$	1,655,061
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid during the period for interest	$	10,919		$	9,142
Cash paid during the period for income taxes	$	26,200		$	26,531
Noncash investing and financing activities:
Unpaid common stock dividends declared	$	5,922		$	5,609

The accompanying Notes are an integral part of these consolidated financial statements.

5

BANCFIRST CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

(1) DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The accounting and reporting policies of BancFirst Corporation and its subsidiaries (the “Company”) conform to accounting principles generally accepted in the United State of America (U.S. GAAP) and general practice within the banking industry. A summary of significant accounting policies can be found in Note (1) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2015.

Basis of Presentation

The accompanying unaudited interim consolidated financial statements include the accounts of BancFirst Corporation, Council Oak Partners, LLC, BancFirst Insurance Services, Inc. and BancFirst and its subsidiaries. The principal operating subsidiaries of BancFirst are Council Oak Investment Corporation, Council Oak Real Estate, Inc. and BancFirst Agency, Inc.  All significant intercompany accounts and transactions have been eliminated. Assets held in a fiduciary or agency capacity are not assets of the Company and, accordingly, are not included in the unaudited interim consolidated financial statements.

The accompanying unaudited interim consolidated financial statements and notes are presented in accordance with the instructions for Form 10-Q. The information contained in the financial statements and footnotes included in BancFirst Corporation’s Annual Report on Form 10-K for the year ended December 31, 2015, should be referred to in connection with these unaudited interim consolidated financial statements. Operating results for the interim periods disclosed herein are not necessarily indicative of the results that may be expected for a full year or any future period.

The unaudited interim consolidated financial statements contained herein reflect all adjustments which are, in the opinion of management, necessary to provide a fair statement of the financial position and results of operations of the Company for the interim periods presented. All such adjustments are of a normal and recurring nature. There have been no significant changes in the accounting policies of the Company since December 31, 2015, the date of the most recent annual report.

Reclassifications

Certain items in prior financial statements have been reclassified to conform to the current presentation. Such reclassifications had no effect on previously reported cash flows, stockholders’ equity or comprehensive income.

Use of Estimates in the Preparation of Financial Statements

The preparation of financial statements in conformity with accounting principles generally accepted in the United States inherently involves the use of estimates and assumptions that affect the amounts reported in the financial statements and the related disclosures. These estimates relate principally to the determination of the allowance for loan losses, income taxes, the fair value of financial instruments and the valuation of intangibles. Such estimates and assumptions may change over time and actual amounts realized may differ from those reported.

Recent Accounting Pronouncements

In August 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments.” ASU 2016-15 is intended to reduce the diversity in practice around how certain transactions are classified within the statement of cash flows. ASU 2016-15 will be effective on January 1, 2018. Early adoption is permitted with retrospective applications. The Company is currently evaluating the potential impact of ASU 2016-15 on its financial statements.

In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” ASU 2016-13 requires a financial asset measured at amortized cost basis to be presented at the net amount expected to be collected. The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. ASU 2016-13 requires enhanced disclosures related to the significant estimates and judgements used in estimating credit losses, as well as the credit quality and underwriting standards of an organization’s portfolio. In addition, ASU 2016-13 amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. ASU 2016-13 will be effective on January 1, 2020. The Company is currently evaluating the potential impact of ASU 2016-13 on its financial statements.

6

In March 2016, the FASB issued ASU No. 2016-09,“Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.” Under ASU 2016-09 all excess tax benefits and tax deficiencies related to share-based payment awards should be recognized as income tax expense or benefit in the income statement during the period in which they occur. Previously, such amounts were recorded in the pool of excess tax benefits included in additional paid-in capital, if such pool was available. Because excess tax benefits are no longer recognized in additional paid-in capital, the assumed proceeds from applying the treasury stock method when computing earnings per share should exclude the amount of excess tax benefits that would have previously been recognized in additional paid-in capital. Additionally, excess tax benefits should be classified along with other income tax cash flows as an operating activity rather than a financing activity, as was previously the case. ASU 2016-09 also provides that an entity can make an entity-wide accounting policy election to either estimate the number of awards that are expected to vest (current GAAP) or account for forfeitures when they occur. ASU 2016-09 changes the threshold to qualify for equity classification (rather than as a liability) to permit withholding up to the maximum statutory tax rates (rather than the minimum as was previously the case) in the applicable jurisdictions. ASU 2016-09 will be effective on January 1, 2017 and is not expected to have a significant impact on the Company’s financial statements.

In February 2016, the FASB issued ASU No. 2016-02, “Leases - (Topic 842).” ASU 2016-02 requires that lessees recognize on the balance sheet the assets and liabilities for the rights and obligations created by leases. The amendments are effective for annual periods, and interim reporting periods within those annual periods, beginning after December 15, 2018. Early adoption is permitted. Adoption of ASU 2016-02 is not expected to have a significant impact on the Company’s financial statements.

In January 2016, the FASB issued ASU No. 2016-01, “Financial Instruments - Overall (Subtopic 825-10).” ASU 2016-01 require all equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) to be measured at fair value with changes in the fair value recognized through net income. In addition, the amendment will require an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. The amendments are effective for annual periods, and interim reporting periods within those annual periods, beginning after December 15, 2017. Early adoption is not permitted. Adoption of ASU 2016-01 is not expected to have a significant impact on the Company’s financial statements.

In August 2014, the FASB issued ASU No. 2014-15, “Presentation of Financial Statements – Going Concern (Topic 205-40).”  ASU 2014-15 provides guidance on management’s responsibility in evaluating whether there is substantial doubt about the Company’s ability to continue as a going concern and related footnote disclosures. For each reporting period, management will be required to evaluate whether there are conditions or events that raise substantial doubt about the Company’s ability to continue as a going concern within one year from the date the financial statements are issued.  The amendments are effective for annual periods, and interim reporting periods within those annual periods, beginning after December 15, 2016. Early adoption is permitted. Adoption of ASU 2014-15 is not expected to have a significant impact on the Company’s financial statements.

(2) RECENT DEVELOPMENTS, INCLUDING MERGERS AND ACQUISITIONS

On October 8, 2015, the Company completed its acquisition of CSB Bancshares Inc. and its subsidiary bank, Bank of Commerce, with locations in Yukon, Mustang and El Reno, Oklahoma. Bank of Commerce had approximately $196 million in total assets, $147 million in loans, $175 million in deposits and $22 million in equity capital. The acquisition was accounted for under the acquisition method and the Company acquired 100% of the voting interest. Bank of Commerce operated as a subsidiary of BancFirst Corporation until it was merged into BancFirst on November 13, 2015. As a result of the acquisition, the Company recorded a core deposit intangible of approximately $7.1 million and goodwill of approximately $9.4 million. The effect of this acquisition was included in the consolidated financial statements of the Company from the date of acquisition forward. The acquisition did not have a material effect on the Company’s consolidated financial statements. The acquisition of CSB Bancshares Inc. and its subsidiary bank, Bank of Commerce complemented the Company’s community banking strategy by adding two communities to its banking network throughout Oklahoma.

During the quarter ended March 31, 2016, the Company had gains on the sale of other real estate owned totaling $1.2 million that is included in net expense (income) from other real estate owned in the consolidated statements of comprehensive income.

7

(3) SECURITIES

The following table summarizes securities held for investment and securities available for sale:

	September 30, 2016		December 31, 2015
	(Dollars in thousands)
Held for investment, at cost (fair value: $4,601 and $8,850, respectively)	$	4,554	$	8,789
Available for sale, at fair value		469,184		544,160
Total	$	473,738	$	552,949

The following table summarizes the amortized cost and estimated fair values of securities held for investment:

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
September 30, 2016	(Dollars in thousands)
Mortgage backed securities (1)	$	273	$	21	$	—		$	294
States and political subdivisions		3,781		28		(2	)		3,807
Other securities		500		—		—			500
Total	$	4,554	$	49	$	(2	)	$	4,601
December 31, 2015
Mortgage backed securities (1)	$	347	$	25	$	—		$	372
States and political subdivisions		7,942		36		—			7,978
Other securities		500		—		—			500
Total	$	8,789	$	61	$	—		$	8,850

The following table summarizes the amortized cost and estimated fair values of securities available for sale:

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
September 30, 2016	(Dollars in thousands)
U.S. treasuries	$	204,350	$	1,773	$	—		$	206,123
U.S. federal agencies		192,271		494		(117	)		192,648
Mortgage backed securities (1)		20,467		379		(561	)		20,285
States and political subdivisions		42,412		1,354		(62	)		43,704
Other securities (2)		6,447		125		(148	)		6,424
Total	$	465,947	$	4,125	$	(888	)	$	469,184
December 31, 2015
U.S. treasuries	$	328,965	$	776	$	(45	)	$	329,696
U.S. federal agencies		131,522		527		(153	)		131,896
Mortgage backed securities (1)		21,973		425		(543	)		21,855
States and political subdivisions		49,521		1,447		(48	)		50,920
Other securities (2)		9,689		249		(145	)		9,793
Total	$	541,670	$	3,424	$	(934	)	$	544,160

(1) Primarily consists of FHLMC, FNMA, GNMA and mortgage backed securities through U.S. agencies.

(2) Primarily consists of equity securities.

Realized gains are reported as securities transactions within the noninterest income section of the consolidated statement of comprehensive income. In January 2015, Council Oak Investment Corporation, a wholly-owned subsidiary of BancFirst, recognized a pretax gain of approximately $1.7 million from the sale of one of its equity investments. In June 2015, Council Oak Partners, LLC, a wholly-owned subsidiary of the Company, recognized a pretax gain of approximately $5.3 million from the sale of one of its equity investments.

8

The maturities of securities held for investment and available for sale are summarized in the following table using contractual maturities. Actual maturities may differ from contractual maturities due to obligations that are called or prepaid. For purposes of the maturity table, mortgage-backed securities, which are not due at a single maturity date, have been presented at their contractual maturity.

	September 30, 2016				December 31, 2015
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
	(Dollars in thousands)
Held for Investment
Contractual maturity of debt securities:
Within one year	$	1,637	$	1,646	$	5,168	$	5,174
After one year but within five years		2,162		2,179		2,800		2,829
After five years but within ten years		736		756		795		319
After ten years		19		20		26		528
Total	$	4,554	$	4,601	$	8,789	$	8,850
Available for Sale
Contractual maturity of debt securities:
Within one year	$	205,834	$	206,093	$	272,820	$	272,779
After one year but within five years		178,939		181,187		178,617		180,145
After five years but within ten years		6,608		7,088		8,483		9,075
After ten years		68,119		68,392		75,522		75,853
Total debt securities		459,500		462,760		535,442		537,852
Other securities		6,447		6,424		6,228		6,308
Total	$	465,947	$	469,184	$	541,670	$	544,160

The following table is a summary of the Company’s book value of securities that were pledged as collateral for public funds on deposit, repurchase agreements and for other purposes as required or permitted by law:

	September 30, 2016		December 31, 2015
	(Dollarsin thousands)
Book value of pledged securities	$	419,481	$	493,540

(4) LOANS AND ALLOWANCE FOR LOAN LOSSES

The following is a schedule of loans outstanding by category:

	September 30, 2016					December 31, 2015
	Amount		Percent			Amount		Percent
	(Dollars in thousands)
Commercial and financial:
Commercial and industrial	$	792,335		18.39	%	$	795,803		18.80	%
Oil & gas production and equipment		75,627		1.76			87,304		2.06
Agriculture		136,150		3.16			150,620		3.56
State and political subdivisions:
Taxable		39,160		0.91			17,605		0.42
Tax-exempt		39,930		0.93			33,575		0.79
Real estate:
Construction		402,901		9.35			403,664		9.54
Farmland		191,218		4.44			184,707		4.36
One to four family residences		845,360		19.62			821,251		19.41
Multifamily residential properties		59,967		1.39			65,477		1.55
Commercial		1,410,730		32.75			1,356,430		32.05
Consumer		277,671		6.45			283,636		6.70
Other (not classified above)		36,778		0.85			31,976		0.76
Total loans	$	4,307,827		100.00	%	$	4,232,048		100.00	%

9

The Company’s commercial and industrial loan category includes a small percentage of loans to companies that provide ancillary services to the oil and gas industry, such as transportation, preparation contractors and equipment manufacturers. The balance of these loans at September 30, 2016 was approximately $54 million.

The Company’s loans are mostly to customers within Oklahoma and over 65% of the loans are secured by real estate.  Credit risk on loans is managed through limits on amounts loaned to individual borrowers, underwriting standards and loan monitoring procedures. The amounts and types of collateral obtained, if any, to secure loans are based upon the Company’s underwriting standards and management’s credit evaluation. Collateral varies, but may include real estate, equipment, accounts receivable, inventory, livestock and securities. The Company’s interest in collateral is secured through filing mortgages and liens, and in some cases, by possession of the collateral.

Accounting policies related to appraisals, nonaccruals and charge-offs are disclosed in Note (1) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2015.

Nonperforming and Restructured Assets

The following is a summary of nonperforming and restructured assets:

	September 30,		December 31,
	2016		2015
	(Dollars in thousands)
Past due 90 days or more and still accruing	$	1,906	$	1,841
Nonaccrual		31,014		30,096
Restructured		1,842		15,143
Total nonperforming and restructured loans		34,762		47,080
Other real estate owned and repossessed assets		4,339		8,214
Total nonperforming and restructured assets	$	39,101	$	55,294

Had nonaccrual loans performed in accordance with their original contractual terms, the Company would have recognized additional interest income of approximately $1.5 million for the nine months ended September 30, 2016 and approximately $1.5 million for the nine months ended September 30, 2015.

Restructured loans at December 31, 2015 consisted primarily of one relationship restructured in prior periods to defer certain principal payments. This relationship was re-evaluated and removed from restructured loans in 2016 due to sustained improvement in financial condition, performance and the commercially reasonable nature of its structure. The Company charges interest on principal balances outstanding during deferral periods. As a result, the current and future financial effects of the recorded balance of loans considered to be restructured were not considered to be material.

Loans are segregated into classes based upon the nature of the collateral and the borrower. These classes are used to estimate the credit risk component in the allowance for loan losses. The following table is a summary of amounts included in nonaccrual loans, segregated by class of loans. Residential real estate refers to one-to-four family real estate.

	September 30,		December 31,
	2016		2015
	(Dollars in thousands)
Real estate:
Non-residential real estate owner occupied	$	274	$	261
Non-residential real estate other		5,910		3,957
Residential real estate permanent mortgage		829		656
Residential real estate all other		4,694		1,833
Commercial and financial:
Non-consumer non-real estate		4,849		10,159
Consumer non-real estate		472		312
Other loans		9,008		9,381
Acquired loans		4,978		3,537
Total	$	31,014	$	30,096

10

The following table presents an age analysis of past due loans, segregated by class of loans:

	Age Analysis of Past Due Loans
	30-59 Days Past Due		60-89 Days Past Due		90 Days and Greater		Total Past Due Loans		Current Loans		Total Loans		Accruing Loans 90 Days or More Past Due
	(Dollars in thousands)
As of September 30, 2016
Real estate:
Non-residential real estate owner occupied	$	3,899	$	704	$	506	$	5,109	$	521,548	$	526,657	$	269
Non-residential real estate other		504		86		1,995		2,585		1,126,466		1,129,051		91
Residential real estate permanent mortgage		2,278		895		1,029		4,202		327,619		331,821		468
Residential real estate all other		1,952		526		1,459		3,937		730,581		734,518		469
Commercial and financial:
Non-consumer non-real estate		5,203		1,522		465		7,190		989,351		996,541		196
Consumer non-real estate		2,020		758		456		3,234		278,381		281,615		270
Other loans		1,208		235		8,199		9,642		138,276		147,918		—
Acquired loans		473		1,023		460		1,956		157,750		159,706		143
Total	$	17,537	$	5,749	$	14,569	$	37,855	$	4,269,972	$	4,307,827	$	1,906
As of December 31, 2015
Real estate:
Non-residential real estate owner occupied	$	441	$	179	$	183	$	803	$	502,094	$	502,897	$	—
Non-residential real estate other		1,149		108		568		1,825		1,108,935		1,110,760		521
Residential real estate permanent mortgage		2,840		636		648		4,124		328,477		332,601		493
Residential real estate all other		2,842		609		824		4,275		672,414		676,689		193
Commercial and financial:
Non-consumer non-real estate		2,278		161		187		2,626		982,136		984,762		152
Consumer non-real estate		2,237		772		349		3,358		265,511		268,869		278
Other loans		3,565		295		1,761		5,621		156,995		162,616		132
Acquired loans		1,052		71		918		2,041		190,813		192,854		72
Total	$	16,404	$	2,831	$	5,438	$	24,673	$	4,207,375	$	4,232,048	$	1,841

Impaired Loans

Loans are considered impaired when, based on current information and events, it is probable the Company will be unable to collect the full amount of scheduled principal and interest payments in accordance with the original contractual terms of the loan agreement. If a loan is impaired, a specific valuation allowance may be allocated, if necessary, so that the loan is reported, net of allowance for loss, at the present value of future cash flows using the loan’s existing rate, or the fair value of collateral if repayment is expected solely from the collateral.

11

The following table presents impaired loans, segregated by class of loans. No material amount of interest income was recognized on impaired loans subsequent to their classification as impaired.

	Impaired Loans
	Unpaid Principal Balance		Recorded Investment with Allowance		Related Allowance		Average Recorded Investment
	(Dollars in thousands)
As of September 30, 2016
Real estate:
Non-residential real estate owner occupied	$	728	$	645	$	48	$	531
Non-residential real estate other		8,049		6,001		335		5,653
Residential real estate permanent mortgage		1,545		1,353		108		1,019
Residential real estate all other		5,704		5,465		1,428		6,007
Commercial and financial:
Non-consumer non-real estate		11,644		6,255		1,470		7,347
Consumer non-real estate		898		863		235		909
Other loans		10,440		9,008		1,851		9,191
Acquired loans		7,265		5,344		—		4,015
Total	$	46,273	$	34,934	$	5,475	$	34,672
As of December 31, 2015
Real estate:
Non-residential real estate owner occupied	$	507	$	383	$	14	$	446
Non-residential real estate other		21,068		19,052		357		19,655
Residential real estate permanent mortgage		1,401		1,209		81		1,125
Residential real estate all other		2,498		2,235		242		1,958
Commercial and financial:
Non-consumer non-real estate		13,897		10,312		2,062		11,786
Consumer non-real estate		738		715		181		652
Other loans		10,722		9,513		331		10,335
Acquired loans		6,295		4,248		—		4,564
Total	$	57,126	$	47,667	$	3,268	$	50,521

Credit Risk Monitoring and Loan Grading

The Company considers various factors to monitor the credit risk in the loan portfolio including volume and severity of loan delinquencies, nonaccrual loans, internal grading of loans, historical loan loss experience and economic conditions.

An internal risk grading system is used to indicate the credit risk of loans. The loan grades used by the Company are for internal risk identification purposes and do not directly correlate to regulatory classification categories or any financial reporting definitions.

The general characteristics of the risk grades are disclosed in Note (5) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2015.

12

The following table presents internal loan grading by class of loans:

	Internal Loan Grading
	Grade
		1		2		3		4		5	Total
	(Dollars in thousands)
As of September 30, 2016
Real estate:
Non-residential real estate owner occupied	$	432,000	$	78,484	$	15,602	$	571	$	—	$	526,657
Non-residential real estate other		941,523		166,984		14,607		5,937		—		1,129,051
Residential real estate permanent mortgage		291,611		31,830		6,918		1,462		—		331,821
Residential real estate all other		604,144		113,822		11,347		5,205		—		734,518
Commercial and financial:
Non-consumer non-real estate		807,385		162,879		21,309		4,968		—		996,541
Consumer non-real estate		261,859		16,461		2,499		796		—		281,615
Other loans		138,497		5,464		1,505		2,452		—		147,918
Acquired loans		102,002		32,236		20,145		5,323		—		159,706
Total	$	3,579,021	$	608,160	$	93,932	$	26,714		—	$	4,307,827
As of December 31, 2015
Real estate:
Non-residential real estate owner occupied	$	417,529	$	76,749	$	8,304	$	315	$	—	$	502,897
Non-residential real estate other		945,993		156,159		4,580		4,028		—		1,110,760
Residential real estate permanent mortgage		295,265		29,793		6,315		1,228		—		332,601
Residential real estate all other		554,007		111,879		9,109		1,694		—		676,689
Commercial and financial:
Non-consumer non-real estate		821,394		140,384		12,687		10,297		—		984,762
Consumer non-real estate		251,994		14,433		1,779		662		1		268,869
Other loans		153,416		5,851		872		2,477		—		162,616
Acquired loans		165,305		12,566		11,049		3,858		76		192,854
Total	$	3,604,903	$	547,814	$	54,695	$	24,559	$	77	$	4,232,048

Allowance for Loan Losses Methodology

The allowance for loan losses (“ALL”) methodology is disclosed in Note (5) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2015.

13

The following table details activity in the ALL by class of loans for the period presented. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories.

	ALL
	Balance at beginning of period		Charge- offs			Recoveries		Net charge-offs			Provisions charged to operations			Balance at end of period
	(Dollars in thousands)
Three Months Ended September 30, 2016
Real estate:
Non-residential real estate owner occupied	$	4,896	$	(1	)	$	—	$	(1	)	$	214		$	5,109
Non-residential real estate other		10,302		(5	)		1		(4	)		285			10,583
Residential real estate permanent mortgage		3,203		(58	)		10		(48	)		52			3,207
Residential real estate all other		8,293		(10	)		8		(2	)		212			8,503
Commercial and financial:
Non-consumer non-real estate		13,441		(1,053	)		31		(1,022	)		(385	)		12,034
Consumer non-real estate		2,749		(374	)		61		(313	)		443			2,879
Other loans		3,377		(18	)		2		(16	)		812			4,173
Acquired loans		305		(41	)		2		(39	)		1,307			1,573
Total	$	46,566	$	(1,560	)	$	115	$	(1,445	)	$	2,940		$	48,061
Nine Months Ended September 30, 2016
Real estate:
Non-residential real estate owner occupied	$	4,661	$	(11	)	$	—	$	(11	)	$	459		$	5,109
Non-residential real estate other		9,921		(9	)		3		(6	)		668			10,583
Residential real estate permanent mortgage		3,148		(157	)		48		(109	)		168			3,207
Residential real estate all other		6,725		(147	)		19		(128	)		1,906			8,503
Commercial and financial:
Non-consumer non-real estate		11,754		(2,358	)		77		(2,281	)		2,561			12,034
Consumer non-real estate		2,642		(729	)		137		(592	)		829			2,879
Other loans		2,648		(300	)		15		(285	)		1,810			4,173
Acquired loans		167		(58	)		18		(40	)		1,446			1,573
Total	$	41,666	$	(3,769	)	$	317	$	(3,452	)	$	9,847		$	48,061

14

	ALL
	Balance at beginning of period		Charge- offs			Recoveries		Net charge-offs			Provisions charged to operations			Balance at end of period
	(Dollars in thousands)
Three Months Ended September 30, 2015
Real estate:
Non-residential real estate owner occupied	$	4,503	$	—		$	—	$	—		$	36		$	4,539
Non-residential real estate other		9,880		(708	)		1		(707	)		814			9,987
Residential real estate permanent mortgage		3,110		(28	)		15		(13	)		(26	)		3,071
Residential real estate all other		6,485		(48	)		4		(44	)		168			6,609
Commercial and financial:
Non-consumer non-real estate		13,713		(2,180	)		38		(2,142	)		86			11,657
Consumer non-real estate		2,499		(152	)		35		(117	)		160			2,542
Other loans		2,431		(20	)		6		(14	)		134			2,551
Acquired loans		—		(38	)		—		(38	)		52			14
Total	$	42,621	$	(3,174	)	$	99	$	(3,075	)	$	1,424		$	40,970
Nine Months Ended September 30, 2015
Real estate:
Non-residential real estate owner occupied	$	4,406	$	(1	)	$	1	$	—		$	133		$	4,539
Non-residential real estate other		9,616		(708	)		2		(706	)		1,077			9,987
Residential real estate permanent mortgage		2,948		(124	)		29		(95	)		218			3,071
Residential real estate all other		6,269		(123	)		13		(110	)		450			6,609
Commercial and financial:
Non-consumer non-real estate		12,771		(2,349	)		76		(2,273	)		1,159			11,657
Consumer non-real estate		2,404		(382	)		90		(292	)		430			2,542
Other loans		2,359		(283	)		15		(268	)		460			2,551
Acquired loans		116		(232	)		28		(204	)		102			14
Total	$	40,889	$	(4,202	)	$	254	$	(3,948	)	$	4,029		$	40,970

The following table details the amount of ALL by class of loans for the period presented, detailed on the basis of the impairment methodology used by the Company.

	ALL
	September 30, 2016				December 31, 2015
	Individually evaluated for impairment		Collectively evaluated for impairment		Individually evaluated for impairment		Collectively evaluated for impairment
	(Dollars in thousands)
Real estate:
Non-residential real estate owner occupied.	$	633	$	4,476	$	323	$	4,338
Non-residential real estate other		880		9,703		323		9,598
Residential real estate permanent mortgage		460		2,747		399		2,749
Residential real estate all other		2,190		6,313		839		5,886
Commercial and financial:
Non-consumer non-real estate		3,445		8,589		3,365		8,389
Consumer non-real estate		580		2,299		445		2,197
Other loans		1,812		2,361		291		2,357
Acquired loans		—		1,573		—		167
Total	$	10,000	$	38,061	$	5,985	$	35,681

15

The following table details the loans outstanding by class of loans for the period presented, on the basis of the impairment methodology used by the Company.

	Loans
	September 30, 2016						December 31, 2015
	Individually evaluated for impairment		Collectively evaluated for impairment		Loans acquired with deteriorated credit quality		Individually evaluated for impairment		Collectively evaluated for impairment		Loans acquired with deteriorated credit quality
	(Dollars in thousands)
Real estate:
Non-residential real estate owner occupied	$	16,173	$	510,484	$	—	$	8,619	$	494,278	$	—
Non-residential real estate other		20,544		1,108,507		—		8,608		1,102,152		—
Residential real estate permanent mortgage		8,380		323,441		—		7,543		325,058		—
Residential real estate all other		16,552		717,966		—		10,803		665,886		—
Commercial and financial:
Non-consumer non-real estate		26,278		970,263		—		22,983		961,779		—
Consumer non-real estate		3,212		278,403		—		2,416		266,453		—
Other loans		2,219		145,699		—		2,323		160,293		—
Acquired loans		—		134,238		25,468		—		177,871		14,983
Total	$	93,358	$	4,189,001	$	25,468	$	63,295	$	4,153,770	$	14,983

Transfers from Loans

Transfers from loans to other real estate owned and repossessed assets are non-cash transactions, and are not included in the statements of cash flow. Transfers from loans to other real estate owned and repossessed assets during the periods presented, are summarized as follows:

	Nine Months Ended September 30,
	2016		2015
	(Dollars in thousands)
Other real estate owned	$	2,453	$	3,155
Repossessed assets		1,117		794
Total	$	3,570	$	3,949

(5) INTANGIBLE ASSETS

The following is a summary of intangible assets:

	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
	(Dollars in thousands)
As of September 30, 2016
Core deposit intangibles	$	17,447	$	(6,151	)	$	11,296
Customer relationship intangibles		5,699		(3,331	)		2,368
Mortgage servicing intangibles		486		(252	)		234
Total	$	23,632	$	(9,734	)	$	13,898
As of December 31, 2015
Core deposit intangibles	$	20,333	$	(7,586	)	$	12,747
Customer relationship intangibles		5,699		(3,061	)		2,638
Mortgage servicing intangibles		538		(228	)		310
Total	$	26,570	$	(10,875	)	$	15,695

16

The following is a summary of goodwill by business segment:

					Other		Executive,
	Metropolitan		Community		Financial		Operations
	Banks		Banks		Services		& Support		Consolidated
	(Dollars in thousands)
Nine months ended September 30, 2016
Balance at beginning and end of period	$	8,078	$	40,050	$	5,464	$	450	$	54,042

Additional information for intangible assets can be found in Note (7) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2015.

(6) STOCK-BASED COMPENSATION

The Company adopted a nonqualified incentive stock option plan (the “BancFirst ISOP”) in May 1986. The Company amended the BancFirst ISOP to increase the number of shares to be issued under the plan to 3,200,000 shares in May 2016. At September 30, 2016, 215,735 shares were available for future grants. The BancFirst ISOP will terminate on December 31, 2019. The options are exercisable beginning four years from the date of grant at the rate of 25% per year for four years. Options expire at the end of fifteen years from the date of grant. Options outstanding as of September 30, 2016 will become exercisable through the year 2023. The option price must be no less than 100% of the fair value of the stock relating to such option at the date of grant.

In June 1999, the Company adopted the BancFirst Corporation Non-Employee Directors’ Stock Option Plan (the “BancFirst Directors’ Stock Option Plan”). Each non-employee director is granted an option for 10,000 shares. The Company amended the BancFirst Directors’ Stock Option Plan to increase the number of shares to be issued under the plan to 260,000 shares in May 2016. At September 30, 2016, 40,000 shares were available for future grants. The options are exercisable beginning one year from the date of grant at the rate of 25% per year for four years, and expire at the end of fifteen years from the date of grant. Options outstanding as of September 30, 2016 will become exercisable through the year 2020. The option price must be no less than 100% of the fair value of the stock relating to such option at the date of grant.

The Company currently uses newly issued stock to satisfy stock-based exercises, but reserves the right to use treasury stock purchased under the Company’s Stock Repurchase Program (the “SRP”) in the future.

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)
Nine Months Ended September 30, 2016
Outstanding at December 31, 2015		1,018,149		$	40.69
Options granted		30,000			58.08
Options exercised		(195,174	)		29.38
Options canceled, forfeited, or expired		(30,000	)		55.88
Outstanding at September 30, 2016		822,975			43.46	9.35 Yrs	$	23,910
Exercisable at September 30, 2016		370,350			36.00	6.45 Yrs	$	13,521

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,
	2016		2015		2016		2015
	(Dollars in thousands except per share data)
Weighted average grant-date fair value per share of options granted	$	13.99	$	11.89	$	11.92	$	11.55
Total intrinsic value of options exercised		5,063		1,129		6,733		3,258
Cash received from options exercised		3,859		779		5,735		2,132
Tax benefit realized from options exercised		1,958		437		2,604		1,260

17

The fair value of each option grant is estimated on the date of grant using the Black-Scholes option-pricing model and is based on certain assumptions including risk-free rate of return, dividend yield, stock price volatility and the expected term.  The fair value of each option is expensed over its vesting period.

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,
	2016		2015		2016		2015
	(Dollars in thousands)
Stock-based compensation expense	$	365	$	489	$	1,266	$	1,243
Tax benefit		142		189		490		481
Stock-based compensation expense, net of tax	$	223	$	300	$	776	$	762

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:

	September 30, 2016
	(Dollars in thousands)
Unearned stock-based compensation expense	$	3,049

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,
	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 21.78%	18.23 to 19.65%
Expected term	10 Yrs	10 Yrs

The risk-free interest rate is determined by reference to the spot zero-coupon rate for the U.S. Treasury security with a maturity similar to the expected term of the options.  The dividend yield is the expected yield for the expected term.  The stock price volatility is estimated from the recent historical volatility of the Company’s stock.  The expected term is estimated from the historical option exercise experience.

In May 1999, the Company adopted the BancFirst Corporation Directors’ Deferred Stock Compensation Plan (the “BancFirst Deferred Stock Compensation Plan”). The Company amended the BancFirst Deferred Stock Compensation Plan to increase the number of shares to be issued under the plan to 111,110 shares in May 2016. Under the plan, directors and members of the community advisory boards of the Company and its subsidiaries may defer up to 100% of their board fees. They are credited for each deferral with a number of stock units based on the current market price of the Company’s stock, which accumulate in an account until such time as the director or community board member terminates serving as a board member. Shares of common stock of the Company are then distributed to the terminating director or community board member based upon the number of stock units accumulated in his or her account. The number of shares of common stock distributed from the BancFirst Deferred Stock Compensation Plan was 2,463 during the nine months ended September 30, 2016.

A summary of the accumulated stock units is as follows:

	September 30,		December 31,
	2016		2015
Accumulated stock units		68,969		66,376
Average price	$	41.12	$	39.64

(7) STOCKHOLDERS’ EQUITY

In November 1999, the Company adopted a Stock Repurchase Program (the “SRP”). The SRP may be used as a means to increase earnings per share and return on equity, to purchase treasury stock for the exercise of stock options or for distributions under the Deferred Stock Compensation Plan, to provide liquidity for optionees to dispose of stock from exercises of their stock options and to provide liquidity for stockholders wishing to sell their stock. All shares repurchased under the SRP have been retired and not held

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as treasury stock. The timing, price and amount of stock repurchases may be determined by management within the limitations of the SRP. During the third quarter of 2016 the SRP was amended to increase the remaining shares to be purchased to 150,000.

The following table is a summary of the shares under the program. All share repurchased in 2016 were purchased in the first three months of the year:

	Nine Months Ended September 30,
	2016		2015
Number of shares repurchased		100,000		—
Average price of shares repurchased	$	55.23		—
Shares remaining to be repurchased		150,000		194,723

The Company and BancFirst are subject to risk-based capital guidelines issued by the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation (“FDIC”). These guidelines are used to evaluate capital adequacy and involve both quantitative and qualitative evaluations of the Company’s and BancFirst’s assets, liabilities and certain off-balance-sheet items calculated under regulatory practices. Failure to meet the minimum capital requirements can initiate certain mandatory or discretionary actions by the regulatory agencies that could have a direct material effect on the Company’s financial statements. Management believes that as of September 30, 2016, the Company and BancFirst met all capital adequacy requirements to which they are subject.  The actual and required capital amounts and ratios are shown in the following table:

					Required								To Be Well
					For Capital				With				Capitalized Under
					Adequacy				Capital Conservation				Prompt Corrective
	Actual				Purposes				Buffer				Action Provisions
	Amount		Ratio		Amount		Ratio		Amount		Ratio		Amount		Ratio
	(Dollars in thousands)
As of September 30, 2016:
Total Capital
(to Risk Weighted Assets)-
BancFirst Corporation	$	708,421		15.06%	$	376,350		8.00%	$	405,752		8.625%	N/A		N/A
BancFirst		643,237		13.69%		375,916		8.00%		405,284		8.625%	$	469,895		10.00%
Common Equity Tier 1 Capital
(to Risk Weighted Assets)-
BancFirst Corporation	$	629,360		13.38%	$	211,697		4.50%	$	241,099		5.125%	N/A		N/A
BancFirst		575,176		12.24%		211,453		4.50%		240,821		5.125%	$	305,432		6.50%
Tier 1 Capital
(to Risk Weighted Assets)-
BancFirst Corporation	$	660,360		14.04%	$	282,262		6.00%	$	311,665		6.625%	N/A		N/A
BancFirst		595,176		12.67%		281,937		6.00%		311,305		6.625%	$	375,916		8.00%
Tier 1 Capital
(to Total Assets)-
BancFirst Corporation	$	660,360		9.89%	$	267,195		4.00%	N/A		N/A		N/A		N/A
BancFirst		595,176		8.92%		266,755		4.00%	N/A		N/A		$	333,444		5.00%

As of September 30, 2016, the most recent notification from the Federal Reserve Bank of Kansas City and the FDIC categorized BancFirst as “well capitalized” under the regulatory framework from prompt corrective action. The Company’s trust preferred securities have continued to be included in Tier 1 capital as the Company’s total assets do not exceed $15 billion. There are no conditions or events since the most recent notifications of BancFirst’s capital category that management believes would materially change its category under capital requirements existing as of the report date.

Basel III Capital Rules

Under the Basel III Capital Rules, in order to avoid limitations on capital distributions, including dividend payments and certain discretionary bonus payments to executive officers, a banking organization must hold a capital conservation buffer composed of CET1 capital above its minimum risk-based capital requirements. The implementation of the capital conservation buffer began on January 1, 2016 at the 0.625% level and will be phased in over a four-year period (increasing by that amount on each subsequent January 1, until it reaches 2.5% on January 1, 2019). Management believes that, as of September 30, 2016, the Company and BancFirst would meet all capital adequacy requirements under the Basel III Capital Rules on a fully phased-in basis as if such requirements were currently in effect.

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(8) NET INCOME PER COMMON SHARE

Basic and diluted net income per common share based on weighted-average shares outstanding are calculated as follows:

	Income (Numerator)		Shares (Denominator)		Per Share Amount
	(Dollars in thousands, except per share data)
Three Months Ended September 30, 2016
Basic
Income available to common stockholders	$	17,982		15,631,094	$	1.15
Dilutive effect of stock options		—		291,115
Diluted
Income available to common stockholders plus assumed    exercises of stock options	$	17,982		15,922,209	$	1.13
Three Months Ended September 30, 2015
Basic
Income available to common stockholders	$	15,630		15,581,593	$	1.01
Dilutive effect of stock options		—		324,531
Diluted
Income available to common stockholders plus assumed    exercises of stock options	$	15,630		15,906,124	$	0.98
Nine Months Ended September 30, 2016
Basic
Income available to common stockholders	$	52,054		15,571,990	$	3.34
Dilutive effect of stock options		—		290,790
Diluted
Income available to common stockholders plus assumed    exercises of stock options	$	52,054		15,862,780	$	3.28
Nine Months Ended September 30, 2015
Basic
Income available to common stockholders	$	50,442		15,542,027	$	3.25
Dilutive effect of stock options		—		329,964
Diluted
Income available to common stockholders plus assumed    exercises of stock options	$	50,442		15,871,991	$	3.18

The following table shows the number and average exercise price of options that were excluded from the computation of diluted net income per common share for each period because the options’ exercise prices were greater than the average market price of the common shares:

	Shares		Average ExercisePrice
Three Months Ended September 30, 2016		141,565	$	60.63
Three Months Ended September 30, 2015		145,261		60.51
Nine Months Ended September 30, 2016		183,314		59.74
Nine Months Ended September 30, 2015		165,927		58.33

(9) FAIR VALUE MEASUREMENTS

Accounting standards define fair value as the price that would be received to sell an asset or the price paid to transfer a liability in the principal or most advantageous market available to the entity in an orderly transaction between market participants on the measurement date.

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FASB ASC Topic 820 establishes a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs.  The fair value hierarchy is as follows:

• Level 1 Inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.

• Level 2 Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset and liability, either directly or indirectly, for substantially the full term of the financial instrument.

• Level 3 Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose values are determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. This category includes certain impaired loans, foreclosed assets, other real estate, goodwill and other intangible assets.

Financial Assets and Financial Liabilities Measured at Fair Value on a Recurring Basis

A description of the valuation methodologies and key inputs used to measure financial assets and financial liabilities at fair value on a recurring basis, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below. These valuation methodologies were applied to the following categories of the Company’s financial assets and financial liabilities.

Securities Available for Sale

Securities classified as available for sale are reported at fair value. U.S. Treasuries are valued using Level 1 inputs. Other securities available for sale including U.S. federal agencies, registered mortgage backed securities and state and political subdivisions are valued using prices from an independent pricing service utilizing Level 2 data. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the bond’s terms and conditions, among other things. The Company also invests in private label mortgage backed securities and equity securities classified as available for sale for which observable information is not readily available. These securities are reported at fair value utilizing Level 3 inputs. For these securities, management determines the fair value based on replacement cost, the income approach or information provided by outside consultants or lead investors.

The Company reviews the prices for Level 1 and Level 2 securities supplied by the independent pricing service for reasonableness and to ensure such prices are aligned with traditional pricing matrices. In general, the Company does not purchase investment portfolio securities that are esoteric or that have complicated structures. The Company’s portfolio primarily consists of traditional investments including U.S. Treasury obligations, federal agency mortgage pass-through securities, general obligation municipal bonds and a small amount of municipal revenue bonds. Pricing for such instruments is fairly generic and is easily obtained. For in-state bond issues that have relatively low issue sizes and liquidity, the Company utilizes the same parameters for pricing mentioned in the preceding paragraph adjusted for the specific issue. From time to time, the Company will validate, on a sample basis, prices supplied by the independent pricing service by comparison to prices obtained from third party sources.

Derivatives

Derivatives are reported at fair value utilizing Level 2 inputs.  The Company obtains dealer and market quotations to value its oil and gas swaps and options.  The Company utilizes dealer quotes and observable market data inputs to substantiate internal valuation models.

Loans Held For Sale

The Company originates mortgage loans to be sold.  At the time of origination, the acquiring bank has already been determined and the terms of the loan, including interest rate, have already been set by the acquiring bank, allowing the Company to originate the loan at fair value.  Mortgage loans are generally sold within 30 days of origination.  Loans held for sale are valued using Level 2 inputs.  Gains or losses recognized upon the sale of the loans are determined on a specific identification basis.

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The following table summarizes financial assets and financial liabilities measured at fair value on a recurring basis as of the periods presented, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value:

	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total Fair Value
	(Dollars in thousands)
September 30, 2016
Securities available for sale:
U.S. Treasury	$	206,123	$	—	$	—	$	206,123
U.S. federal agencies		—		192,648		—		192,648
Mortgage-backed securities		—		5,469		14,816		20,285
States and political subdivisions		—		43,704		—		43,704
Other securities		—		—		6,424		6,424
Derivative assets		—		1,017		—		1,017
Derivative liabilities		—		665		—		665
Loans held for sale		—		9,685		—		9,685
December 31, 2015
Securities available for sale:
U.S. Treasury	$	329,696	$	—	$	—	$	329,696
U.S. federal agencies		—		131,896		—		131,896
Mortgage-backed securities		—		7,039		14,816		21,855
States and political subdivisions		—		50,920		—		50,920
Other securities		—		3,485		6,308		9,793
Derivative assets		—		1,946		—		1,946
Derivative liabilities		—		989		—		989
Loans held for sale		—		13,725		—		13,725

The changes in Level 3 assets measured at estimated fair value on a recurring basis during the periods presented were as follows:

	Nine Months Ended September 30,
	2016			2015
	(Dollars in thousands)
Balance at the beginning of the year	$	21,124		$	28,459
Purchases		763			609
Settlements		(7	)		(1,679	)
Sales		(426	)		(8,593	)
(Losses) gains included in earnings		(111	)		7,121
Total unrealized losses		(103	)		(4,029	)
Balance at the end of the period	$	21,240		$	21,888

The Company’s policy is to recognize transfers in and transfers out of Levels 1, 2 and 3 as of the end of the reporting period. During the nine months ended September 30, 2016 and 2015, the Company did not transfer any securities between levels in the fair value hierarchy.

Financial Assets and Financial Liabilities Measured at Fair Value on a Nonrecurring Basis

Certain financial assets and financial liabilities are measured at fair value on a nonrecurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment). These financial assets and financial liabilities are reported at fair value utilizing Level 3 inputs.

Impaired loans are reported at the fair value of the underlying collateral if repayment is dependent on liquidation of the collateral. In no case does the fair value of an impaired loan exceed the fair value of the underlying collateral. The impaired loans are adjusted to fair value through a specific allocation of the allowance for loan losses or a direct charge-down of the loan.

Foreclosed assets, upon initial recognition, are measured and adjusted to fair value through a charge-off to the allowance for possible loan losses based upon the fair value of the foreclosed asset.

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Other real estate owned is revalued at fair value subsequent to initial recognition, with any losses recognized in net expense from other real estate owned.

The following table summarizes assets measured at fair value on a nonrecurring basis. The fair value represents end of period values, which approximate fair value measurements that occurred on various measurement dates throughout the period. The related losses represent the amounts recognized during the period regardless of whether the asset is still held at period end:

	Total Fair Value Level 3		Losses
	(Dollars in thousands)
As of and for the Year-to-date Period Ended September 30, 2016
Impaired loans (less specific allowance)	$	29,459	$	—
Foreclosed assets		1,117		2
Other real estate owned		3,034		146
As of and for the Year-to-date Period Ended December 31, 2015
Impaired loans (less specific allowance)	$	44,399	$	—
Foreclosed assets		1,097		—
Other real estate owned		4,604		128

Estimated Fair Value of Financial Instruments

The Company is required under current authoritative accounting guidance to disclose the estimated fair value of their financial instruments that are not recorded at fair value. For the Company, as for most financial institutions, substantially all of its assets and liabilities are considered financial instruments. A financial instrument is defined as cash, evidence of an ownership interest in an entity or a contract that creates a contractual obligation or right to deliver or receive cash or another financial instrument from a second entity. The following methods and assumptions were used to estimate the fair value of each class of financial instruments:

Cash and Cash Equivalents Include: Cash and Due from Banks, Federal Funds Sold and Interest-Bearing Deposits

The carrying amount of these short-term instruments is a reasonable estimate of fair value.

Securities Held for Investment

For securities held for investment, which are generally traded in secondary markets, fair values are based on quoted market prices or dealer quotes, if available. If a quoted market price is not available, fair value is estimated using quoted market prices for similar securities making adjustments for credit or liquidity if applicable.

Loans

For certain homogeneous categories of loans, such as some residential mortgages, fair values are estimated using the quoted market prices for securities backed by similar loans, adjusted for differences in loan characteristics. The fair values of other types of loans are estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities.

Deposits

The fair values of transaction and savings accounts are the amounts payable on demand at the reporting date. The fair values of fixed-maturity certificates of deposit are estimated using the rates currently offered for deposits of similar remaining maturities.

Short-term Borrowings

The amounts payable on these short-term instruments are reasonable estimates of fair value.

Junior Subordinated Debentures

The fair values of junior subordinated debentures are estimated using the rates that would be charged for junior subordinated debentures of similar remaining maturities.

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Loan Commitments and Letters of Credit

The fair values of commitments are estimated using the fees currently charged to enter into similar agreements, taking into account the terms of the agreements. The fair values of letters of credit are based on fees currently charged for similar agreements.

The estimated fair values of the Company’s financial instruments that are reported at amortized cost in the Company’s consolidated balance sheets, segregated by the level of valuation inputs within the fair value hierarchy utilized to measure fair value, are as follows:

	September 30,				December 31,
	2016				2015
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
	(Dollars in thousands)
FINANCIAL ASSETS
Level 2 inputs:
Cash and cash equivalents	$	1,706,656	$	1,706,656	$	1,598,177	$	1,598,177
Securities held for investment		3,943		3,990		8,289		8,350
Level 3 inputs:
Securities held for investment		611		611		500		500
Loans, net of allowance for loan losses		4,259,766		4,325,916		4,190,382		4,222,153
FINANCIAL LIABILITIES
Level 2 inputs:
Deposits		6,024,949		6,085,613		5,973,538		6,028,012
Short-term borrowings		4,000		4,000		500		500
Junior subordinated debentures		31,959		34,757		31,959		33,793
OFF-BALANCE SHEET FINANCIAL INSTRUMENTS
Loan commitments				1,824				1,681
Letters of credit				428				464

Non-financial Assets and Non-financial Liabilities Measured at Fair Value

The Company has no non-financial assets or non-financial liabilities measured at fair value on a recurring basis. Certain non-financial assets and non-financial liabilities measured at fair value on a nonrecurring basis include intangible assets (excluding mortgage service rights, which are valued semi-annually) and other non-financial long-lived assets measured at fair value and adjusted for impairment. These items are evaluated at least annually for impairment. The overall levels of non-financial assets and non-financial liabilities measured at fair value on a nonrecurring basis were not considered to be significant to the Company at September 30, 2016 or December 31, 2015.

(10) DERIVATIVE FINANCIAL INSTRUMENTS

The Company enters into oil and gas swaps and options contracts to accommodate the business needs of its customers.  Upon the origination of an oil or gas swap or option contract with a customer, the Company simultaneously enters into an offsetting contract with a counterparty to mitigate the exposure to fluctuations in oil and gas prices.  These derivatives are not designated as hedged instruments and are recorded on the Company’s consolidated balance sheet at fair value.

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The Company utilizes dealer quotations and observable market data inputs to substantiate internal valuation models.  The notional amounts and estimated fair values of oil and gas derivative positions outstanding are presented in the following table:

		September 30, 2016						December 31, 2015
Oil and Natural Gas Swaps and Options	Notional Units	Notional Amount			Estimated Fair Value			Notional Amount			Estimated Fair Value
		(Notional amounts and dollars in thousands)
Oil
Derivative assets	Barrels		61		$	190			86		$	604
Derivative liabilities	Barrels		(61	)		(131	)		(86	)		(378	)
Natural Gas
Derivative assets	MMBTUs		2,540			827			3,920			1,342
Derivative liabilities	MMBTUs		(2,540	)		(534	)		(3,920	)		(611	)
Total Fair Value	Included in
Derivative assets	Other assets					1,017						1,946
Derivative liabilities	Other liabilities					(665	)					(989	)

The following table is a summary of the Company’s recognized income related to the activity, which was included in other noninterest income:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2016		2015		2016		2015
	(Dollars in thousands)
Derivative income	$	3	$	78	$	14	$	270

The Company’s credit exposure on oil and gas swaps and options varies based on the current market prices of oil and natural gas.  Other than credit risk, changes in the fair value of customer positions will be offset by equal and opposite changes in the counterparty positions.  The net positive fair value of the contracts is the profit derived from the activity and is unaffected by market price movements. The Company’s share of total profit is approximately 35%.

Customer credit exposure is managed by strict position limits and is primarily offset by first liens on production while the remainder is offset by cash.  Counterparty credit exposure is managed by selecting highly rated counterparties (rated A- or better by Standard and Poor’s) and monitoring market information.

The following table is a summary of the Company’s net credit exposure relating to oil and gas swaps and options with bank counterparties:

	September 30, 2016		December 31, 2015
	(Dollars inthousands)
Credit exposure	$	—	$	37

Balance Sheet Offsetting

Derivatives may be eligible for offset in the consolidated balance sheet and/or subject to master netting arrangements. The Company’s derivative transactions with upstream financial institution counterparties and bank customers are generally executed under International Swaps and Derivative Association (“ISDA”) master agreements which include “right of set-off” provisions. In such cases there is generally a legally enforceable right to offset recognized amounts and there may be an intention to settle such amounts on a net basis. Nonetheless, the Company does not generally offset such financial instruments for financial reporting purposes.

(11) SEGMENT INFORMATION

The Company evaluates its performance with an internal profitability measurement system that measures the profitability of its business units on a pre-tax basis. The four principal business units are metropolitan banks, community banks, other financial services and executive, operations and support. Metropolitan and community banks offer traditional banking products such as commercial and retail lending and a full line of deposit accounts. Metropolitan banks consist of banking locations in the metropolitan Oklahoma City and Tulsa areas.  Community banks consist of banking locations in communities throughout Oklahoma. Other financial services are specialty product business units including guaranteed small business lending, residential mortgage lending, trust services, securities brokerage, electronic banking and insurance. The executive, operations and support groups represent executive management, operational support and corporate functions that are not allocated to the other business units.

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The results of operations and selected financial information for the four business units are as follows:

	Metropolitan Banks		Community Banks		Other Financial Services		Executive, Operations & Support			Eliminations			Consolidated
	(Dollars in thousands)
Three Months Ended September 30, 2016
Net interest income (expense)	$	15,893	$	34,254	$	1,617	$	(333	)	$	—		$	51,431
Noninterest income		4,235		14,918		8,050		19,025			(18,301	)		27,927
Income before taxes		10,970		19,727		2,683		11,964			(18,130	)		27,214
Three Months Ended September 30, 2015
Net interest income (expense)	$	15,221	$	30,429	$	1,638	$	(412	)	$	—		$	46,876
Noninterest income		3,755		13,427		7,507		17,250			(16,615	)		25,324
Income before taxes		9,463		18,693		3,098		9,616			(16,446	)		24,424
Nine Months Ended September 30, 2016
Net interest income (expense)	$	47,435	$	101,222	$	4,624	$	(1,006	)	$	—		$	152,275
Noninterest income		12,121		42,922		22,175		55,501			(53,118	)		79,601
Income before taxes		30,558		59,152		8,228		33,711			(52,835	)		78,814
Nine Months Ended September 30, 2015
Net interest income (expense)	$	45,946	$	88,928	$	5,156	$	(1,313	)	$	—		$	138,717
Noninterest income		10,745		38,743		27,621		55,868			(53,642	)		79,335
Income before taxes		29,152		52,500		15,015		34,024			(53,372	)		77,319
Total Assets:
September 30, 2016	$	2,351,771	$	4,360,964	$	95,999	$	733,573		$	(758,770	)	$	6,783,537
December 31, 2015		2,277,870		4,379,205		128,697		624,428			(717,371	)		6,692,829

The financial information for each business unit is presented on the basis used internally by management to evaluate performance and allocate resources.  The Company utilizes a transfer pricing system to allocate the benefit or cost of funds provided or used by the various business units.  Certain services provided by the support group to other business units, such as item processing, are allocated at rates approximating the cost of providing the services.  Eliminations are adjustments to consolidate the business units and companies. Capital expenditures are generally charged to the business unit using the asset.

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Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

The following discussion and analysis presents factors that the Company believes are relevant to an assessment and understanding of the Company’s consolidated financial position and results of operations. This discussion and analysis should be read in conjunction with the Company’s December 31, 2015 consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 and the Company’s consolidated financial statements and the related Notes included in Item 1.

FORWARD LOOKING STATEMENTS

The Company may make forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 with respect to earnings, credit quality, corporate objectives, interest rates and other financial and business matters.  Forward-looking statements include estimates and give management’s current expectations or forecasts of future events.  The Company cautions readers that these forward-looking statements are subject to numerous assumptions, risks and uncertainties, including economic conditions; the performance of financial markets and interest rates; legislative and regulatory actions and reforms; competition; as well as other factors, all of which change over time. Examples of forward-looking statements include, but are not limited to: (i) projections of revenues, expenses, income or loss, earnings or loss per share, the payment or nonpayment of dividends, capital structure and other financial items; (ii) statements of plans, objectives and expectations, including those relating to products or services; (iii) statements of future economic performance; and (iv) statements of assumptions underlying such statements. Words such as “believes”, “anticipates”, “expects”, “intends”, “targeted”, “continue”, “remain”, “will”, “should”, “may” and other similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements.

Forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from those in such statements. Factors that could cause actual results to differ from those discussed in the forward-looking statements include, but are not limited to:

• Local, regional, national and international economic conditions and the impact they may have on the Company and its customers and the Company’s assessment of that impact.

• Changes in the mix of loan geographies, sectors and types or the level of non-performing assets and charge-offs.

• Changes in estimates of future reserve requirements based upon the periodic review thereof under relevant regulatory and accounting requirements.

• Inflation, interest rate, crude oil price, securities market and monetary fluctuations.

• The effect of changes in laws and regulations (including laws and regulations concerning taxes, banking, securities and insurance) with which the Company must comply.

• Impairment of the Company’s goodwill or other intangible assets.

• Changes in consumer spending, borrowing and savings habits.

• Changes in the financial performance and/or condition of the Company’s borrowers.

• Technological changes.

• Acquisitions and integration of acquired businesses.

• The effect of changes in accounting policies and practices, as may be adopted by the regulatory agencies, as well as the Public Company Accounting Oversight Board, the Financial Accounting Standards Board and other accounting standard setters.

• The Company’s success at managing the risks involved in the foregoing items.

Actual results may differ materially from forward-looking statements.

27

SUMMARY

BancFirst Corporation’s net income was $18.0 million, or $1.13 diluted earnings per share, for the third quarter of 2016, compared to net income of $15.6 million, or $0.98 diluted earnings per share, for the third quarter of 2015. Net income was $52.1 million, or $3.28 diluted earnings per share, for the nine months ended September, 30, 2016, compared to net income of $50.4 million, or $3.18 diluted earnings per share, for the nine months ended September, 30, 2015. The second quarter of 2015 included a gain from the sale of an equity investment by the Company’s wholly-owned subsidiary, Council Oak Partners, LLC, of approximately $5.3 million.  

The Company’s net interest income for the third quarter of 2016 increased to $51.4 million, compared to $46.9 million for the third quarter of 2015. The net interest margin for the quarter was 3.27%, compared to 3.12% a year ago. Internal loan growth, acquired loans from the Company’s October 2015 acquisition and the increase in the federal funds rate of 25 basis points during the fourth quarter of 2015 contributed to the higher net interest income and margin in 2016. The Company’s provision for loan losses for the third quarter of 2016 increased to $2.9 million, compared to $1.4 million a year ago. The increase in the provision was largely due to a small number of commercial loan downgrades.  Net charge-offs for the quarter were 0.03% of average loans, compared to 0.08% for the third quarter of 2015.  Noninterest income for the quarter totaled $27.9 million, compared to $25.3 million last year. Noninterest expense for the quarter totaled $49.2 million, compared to $46.4 million last year, as a result of salary increases and the Company’s acquisition in the fourth quarter of 2015. The Company’s effective tax rate was 33.9% compared to 36.0% for the third quarter of 2015.

At September 30, 2016, the Company’s total assets were $6.8 billion, largely unchanged from December 31, 2015. Securities decreased $79.2 million to a total of $473.7 million, due primarily to maturities within the portfolio. Loans totaled $4.3 billion, up $71.7 million from December 31, 2015.  Deposits totaled $6.0 billion, virtually unchanged from the December 31, 2015 total. The Company’s total stockholders’ equity was $693.7 million, an increase of $38.2 million, or 5.8%, over December 31, 2015.

Asset quality remained solid during the third quarter of 2016. Nonperforming and restructured assets were 0.58% of total assets at September 30, 2016 compared to 0.83% at December 31, 2015. The decrease in nonperforming and restructured assets was largely due to one relationship that was removed from a troubled debt restructuring status due to sustained improvement in financial condition, performance and the commercially reasonable nature of its structure. Sales of other real estate owned also contributed to the decrease in nonperforming assets. The allowance to total loans was 1.11%, compared to 0.98% at year-end 2015. The allowance to nonperforming and restructured loans was 138.3% compared to 88.5% at year-end 2015.

During the first quarter of 2016, the Company repurchased 100,000 shares of its common stock at an average price of $55.23 under the Company’s stock repurchase program.

On October 8, 2015, the Company completed the acquisition of CSB Bancshares, Inc. and its subsidiary bank, Bank of Commerce, with locations in Yukon, Mustang, and El Reno, Oklahoma.  Bank of Commerce had approximately $196 million in total assets, $147 million in loans, $175 million in deposits, and $22 million in equity capital. The bank was merged into BancFirst on November 13, 2015.

Oil prices continued to be at or below the marginal cost of most production during the third quarter of 2016, which had a dampening effect on the Oklahoma economy. In addition, Oklahoma has experienced low prices related to other commodities, such as livestock and grains. Any continued impact from these low prices on Oklahoma’s economy and the Company’s financial results could become more apparent in future periods.

FUTURE APPLICATION OF ACCOUNTING STANDARDS

See Note (1) of the Notes to Consolidated Financial Statements for a discussion of recently issued accounting pronouncements.

SEGMENT INFORMATION

See Note (11) of the Notes to Consolidated Financial Statements for disclosures regarding business segments.

28

RESULTS OF OPERATIONS

Selected income statement data and other selected data for the comparable periods were as follows:

BANCFIRST CORPORATION

SELECTED CONSOLIDATED FINANCIAL DATA

(Unaudited)

(Dollars in thousands, except per share data)

	Three Months Ended September 30,						Nine Months Ended September 30,
	2016			2015			2016			2015
Income Statement Data
Net interest income	$	51,431		$	46,876		$	152,275		$	138,717
Provision for loan losses		2,940			1,424			9,847			4,029
Securities transactions		(146	)		—			(111	)		7,121
Total noninterest income		27,927			25,324			79,601			79,335
Salaries and employee benefits		30,591			28,746			89,956			84,145
Total noninterest expense		49,204			46,352			143,215			136,704
Net income		17,982			15,630			52,054			50,442
Per Common Share Data
Net income – basic	$	1.15		$	1.01		$	3.34		$	3.25
Net income – diluted		1.13			0.98			3.28			3.18
Cash dividends		0.38			0.36			1.10			1.04
Performance Data
Return on average assets		1.06	%		0.97	%		1.03	%		1.04	%
Return on average stockholders’ equity		10.35			9.64			10.27			10.68
Cash dividend payout ratio		33.03			35.53			32.91			32.04
Net interest spread		3.09			2.98			3.10			2.95
Net interest margin		3.27			3.12			3.27			3.09
Efficiency ratio		62.00			64.20			61.76			62.69
Net charge-offs to average loans		0.03			0.08			0.08			0.10

Net Interest Income

For the three months ended September 30, 2016, net interest income, which is the Company’s principal source of operating revenue, increased to $51.4 million compared to $46.9 million for the three months ended September 30, 2015. Net interest margin, which is shown in the preceding table, is the ratio of taxable-equivalent net interest income to average earning assets for the period. Internal loan growth, acquired loans from the Company’s October 2015 acquisition and the increase in the federal funds rate of 25 basis points during the fourth quarter of 2015 contributed to the higher net interest income and margin in 2016.

Net interest income for the nine months ended September 30, 2016 was $152.3 million compared to $138.7 million for the nine months ended September 30, 2015. The net interest margin for the year-to-date increased compared to the same period of the previous year, as shown in the preceding table.  

Provision for Loan Losses

The Company’s provision for loan loss for the third quarter of 2016 increased to $2.9 million compared to $1.4 million a year ago. The increase in the provision was largely due to a small number of commercial loan downgrades that were impacted by the economic effect in Oklahoma from low commodity prices, such as oil, natural gas and livestock. The Company establishes an allowance as an estimate of the probable inherent losses in the loan portfolio at the balance sheet date.  Management believes the allowance for loan losses is appropriate based upon management’s best estimate of probable losses that have been incurred within the existing loan portfolio. Should any of the factors considered by management in evaluating the appropriate level of the allowance for loan losses change, the Company’s estimate of probable loan losses could also change, which could affect the amount of future provisions for loan losses. Net loan charge-offs were $1.4 million for the third quarter of 2016, compared to $3.1 million for the third quarter of 2015. The rate of net charge-offs to average total loans, as presented in the preceding table, continues to be at a very low level.

29

For the nine months ended September 30, 2016, the Company’s provision for loan losses increased to $9.8 million, compared to $4.0 million for the nine months ended September 30, 2015, due to a small number of commercial loan downgrades. Net loan charge-offs were $3.5 million, compared to $3.9 million for the same period of the prior year.

Noninterest Income

Noninterest income totaled $27.9 million for the third quarter of 2016 compared to $25.3 million for the third quarter of 2015. The Company had fees from debit card usage totaling $6.0 million and $5.7 million during the three month periods ended September 30, 2016 and 2015, respectively. This represents 21.5% and 22.5% of the Company’s noninterest income for the three month periods ended September 30, 2016 and 2015, respectively. In addition, the Company had non-sufficient fund fees totaling $7.1 million and $6.7 million during the three month periods ended September 30, 2016 and 2015, respectively. This represents 25.6% and 26.4% of the Company’s noninterest income for the three month periods ended September 30, 2016 and 2015, respectively.

Noninterest income for the nine months ended September 30, 2016 totaled $79.6 million compared to $79.3 million for the nine months ended September 30, 2015. Noninterest income in 2015 included a gain from the sale of an investment by the Company’s wholly-owned subsidiary Council Oak Partners, LLC, of approximately $5.3 million and a $1.7 million gain on the sale of an investment by Council Oak Investment Corporation, a wholly-owned subsidiary of BancFirst.  Fees from debit card usage totaled $18.0 million and $17.0 million during the nine months ended September 30, 2016 and 2015, respectively. This represents 22.6% and 21.4% of the Company’s noninterest income for the nine month periods ended September 30, 2016 and 2015, respectively. In addition, the Company had non-sufficient fund fees totaling $19.8 million and $18.2 million during the nine months ended September 30, 2016 and 2015, respectively. This represents 24.9% and 22.9% of the Company’s noninterest income for the nine month periods ended September 30, 2016 and 2015, respectively.

Noninterest Expense

For the three months ended September 30, 2016, noninterest expense totaled $49.2 million, compared to $46.4 million for the three months ended September 30, 2015. The increase in noninterest expense for the third quarter of 2016 was primarily due to salary increases and the Company’s acquisition in the fourth quarter of 2015.

For the nine months ended September 30, 2016, noninterest expense totaled $143.2 million compared to $136.7 million for the nine months ended September 30, 2015. The increase in noninterest expense for year-to-date 2016 was primarily due to salary increases and the Company’s acquisition in the fourth quarter of 2015.  This was partially offset by gains on sale of other real estate owned totaling $1.1 million. During the second quarter of 2015 the Company recorded an impairment loss for goodwill of $368,000 after adopting a plan to close a small branch, which is included in noninterest expense.

Income Taxes

The Company’s effective tax rate on income before taxes was 33.9% for the third quarter of 2016, compared to 36.0% for the third quarter of 2015.

The Company’s effective tax rate on income before taxes was 34.0% for the first nine months of 2016, compared to 34.8% for the first nine months of 2015.  

30

FINANCIAL POSITION

BANCFIRST CORPORATION

SELECTED CONSOLIDATED FINANCIAL DATA

(Dollars in thousands, except per share data)

	September 30,			December 31,
	2016			2015
	(unaudited)
Balance Sheet Data
Total assets	$	6,783,537		$	6,692,829
Total loans (net of unearned interest)		4,317,512			4,245,773
Allowance for loan losses		48,061			41,666
Securities		473,738			552,949
Deposits		6,024,949			5,973,358
Stockholders' equity		693,731			655,510
Book value per share		44.20			42.03
Tangible book value per share		39.87			37.56
Average loans to deposits (year-to-date)		71.60	%		67.34	%
Average earning assets to total assets (year-to-date)		93.03			93.02
Average stockholders’ equity to average assets (year-to-date)		10.06			9.76
Asset Quality Ratios
Nonperforming and restructured loans to total loans		0.81	%		1.11	%
Nonperforming and restructured assets to total assets		0.58			0.83
Allowance for loan losses to total loans		1.11			0.98
Allowance for loan losses to nonperforming and restructured loans		138.26			88.50

Cash and Interest-Bearing Deposits with Banks

The aggregate of cash and due from banks and interest-bearing deposits with banks had a nominal increase, from December 31, 2015 to September 30, 2016.  

Securities

At September 30, 2016, total securities decreased $79.2 million, or 14.3% compared to December 31, 2015, due primarily to maturities. The size of the Company’s securities portfolio is determined by the Company’s liquidity, asset/liability management and pledging requirements for public funds. The net unrealized gain on securities available for sale, before taxes, was $3.2 million at September 30, 2016, compared to an unrealized gain of $2.5 million at December 31, 2015.  These unrealized gains are included in the Company’s stockholders’ equity as accumulated other comprehensive income, net of income tax, in the amounts of $2.0 million and $1.5 million, respectively.

Loans (Including Acquired Loans)

At September 30, 2016, loans totaled $4.3 billion, up $71.7 million from December 31, 2015. The increase in 2016 was primarily driven by an increase in commercial real estate loans located in the Company’s metropolitan markets.

Allowance for Loan Losses/Fair Value Adjustments on Acquired Loans

At September 30, 2016, the allowance for loan losses to total loans represented 1.11% of total loans, compared to 0.98% at December 31, 2015.  

The fair value adjustment on acquired loans consists of an interest rate component to adjust the effective rates on the loans to market rates and a credit component to adjust for estimated credit exposures in the acquired loans. The credit component of the

31

adjustment was $2.2 million at September 30, 2016 and $3.3 million at December 31, 2015, while the acquired loans outstanding were $159.7 million and $192.9 million, respectively.

Nonperforming and Restructured Assets

Nonperforming and restructured assets totaled $39.1 million at September 30, 2016, compared to $55.3 million at December 31, 2015. The Company’s level of nonperforming and restructured assets has continued to be relatively low. The decrease in nonperforming and restructured assets in 2016 was due to one relationship that was re-evaluated and removed from restructured loans due to sustained improvement in financial condition, performance and the commercially reasonable nature of its structure.

Nonaccrual loans totaled $31.0 million at September 30, 2016, compared to $30.1 million at December 31, 2015. The Company’s nonaccrual loans are primarily commercial and real estate loans. Nonaccrual loans negatively impact the Company’s net interest margin. A loan is placed on nonaccrual status when, in the opinion of management, the future collectability of interest or principal or both is in serious doubt. Interest income is recognized on certain of these loans on a cash basis if the full collection of the remaining principal balance is reasonably expected. Otherwise, interest income is not recognized until the principal balance is fully collected. Total interest income which was not accrued on nonaccrual loans outstanding, was approximately $1.5 million for both the nine months ended September 30, 2016 and September 30, 2015. Only a small amount of this interest is expected to be ultimately collected.

Other real estate owned and repossessed assets totaled $4.3 million at September 30, 2016, compared to $8.2 million at December 31, 2015. Other real estate owned and repossessed assets decreased during 2016 primarily due to the sale of two properties.

Potential problem loans are performing loans to borrowers with a weakened financial condition, or which are experiencing unfavorable trends in their financial condition, which causes management to have concerns as to the ability of such borrowers to comply with the existing repayment terms.  The Company had approximately $10.1 million of these loans at September 30, 2016, compared to $4.9 million at December 31, 2015. Potential problem loans are not included in nonperforming and restructured loans.  In general, these loans are adequately collateralized and have no specific identifiable probable loss.  Loans which are considered to have identifiable probable loss potential are placed on nonaccrual status, are allocated a specific allowance for loss or are directly charged-down, and are reported as nonperforming.

Liquidity and Funding

Deposits

At September 30, 2016, deposits totaled $6.0 billion, virtually unchanged from the December 31, 2015 balance. The Company’s core deposits provide it with a stable, low-cost funding source. The Company’s core deposits as a percentage of total deposits were 94.5% at September 30, 2016 compared to 94.3% at December 31, 2015.  Noninterest-bearing deposits to total deposits were 41.1% at September 30, 2016, compared to 40.3% at December 31, 2015.

Short-Term Borrowings

Short-term borrowings, consisting primarily of federal funds purchased and repurchase agreements, are another source of funds for the Company. The level of these borrowings is determined by various factors, including customer demand and the Company’s ability to earn a favorable spread on the funds obtained. Short-term borrowings were $4.0 million at September 30, 2016, compared to $500,000 at December 31, 2015.

Long-Term Borrowings

The Company has a line of credit from the Federal Home Loan Bank (“FHLB”) of Topeka, Kansas to use for liquidity or to match-fund certain long-term fixed rate loans. The Company’s assets, including residential first mortgages of $672.8 million, are pledged as collateral for the borrowings under the line of credit. As of September 30, 2016 and December 31, 2015, the Company had no advances outstanding under the line of credit from FHLB. In addition, the Company has a revolving line of credit with a commercial bank, with the ability to draw up to $10.0 million. This line of credit has a variable rate based on prime rate minus 25 basis points and matures in 2020. There were no borrowings against this line of credit at September 30, 2016 and December 31, 2015.

There have not been any other material changes from the liquidity and funding discussion included in Management’s Discussion and Analysis in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015.

32

Capital Resources

Stockholders’ equity totaled $693.7 million at September 30, 2016, compared to $655.5 million at December 31, 2015. In addition to net income of $52.1 million, other changes in stockholders’ equity during the nine months ended September 30, 2016 included $7.1 million related to stock option exercises, $1.3 million related to stock-based compensation and a $458,000 increase in other comprehensive income, that were partially offset by $17.1 million in dividends and $5.5 million in stock repurchases. The Company’s leverage ratio and total risk-based capital ratios at September 30, 2016 were well in excess of the regulatory requirements.

See Note (7) of the Notes to Consolidated Financial Statements for a discussion of capital ratio requirements.

CONTRACTUAL OBLIGATIONS

There have not been any material changes in the resources required for scheduled repayments of contractual obligations from the table of Contractual Cash Obligations included in Management’s Discussion and Analysis which was included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015. 

33

BANCFIRST CORPORATION

CONSOLIDATED AVERAGE BALANCE SHEETS AND INTEREST MARGIN ANALYSIS

(Unaudited)

Taxable Equivalent Basis (Dollars in thousands)

	Three Months Ended September 30,
	2016								2015
				Interest		Average						Interest		Average
	Average			Income/		Yield/			Average			Income/		Yield/
	Balance			Expense		Rate			Balance			Expense		Rate
ASSETS
Earning assets:
Loans (1)	$	4,300,400		$	51,817		4.78	%	$	3,885,579		$	47,455		4.85	%
Securities – taxable		407,434			1,242		1.21			485,862			1,291		1.05
Securities – tax exempt		38,021			383		4.00			43,118			382		3.51
Interest-bearing deposits w/ banks & FFS		1,535,048			1,968		0.51			1,570,367			1,009		0.25
Total earning assets		6,280,903			55,410		3.50			5,984,926			50,137		3.32
Nonearning assets:
Cash and due from banks		171,762								168,607
Interest receivable and other assets		335,855								313,686
Allowance for loan losses		(46,400	)							(42,061	)
Total nonearning assets		461,217								440,232
Total assets	$	6,742,120							$	6,425,158
LIABILITIES AND STOCKHOLDERS’ EQUITY
Interest-bearing liabilities:
Transaction deposits	$	777,284		$	202		0.10	%	$	701,405		$	181		0.10	%
Savings deposits		2,079,991			1,729		0.33			2,019,956			1,155		0.23
Time deposits		701,760			1,218		0.69			718,963			1,186		0.65
Short-term borrowings		1,979			2		0.36			3,014			1		0.15
Junior subordinated debentures		31,959			524		6.51			26,804			492		7.29
Total interest-bearing liabilities		3,592,973			3,675		0.41			3,470,142			3,015		0.34
Interest-free funds:
Noninterest-bearing deposits		2,433,136								2,284,207
Interest payable and other liabilities		26,660								27,243
Stockholders’ equity		689,351								643,566
Total interest free funds		3,149,147								2,955,016
Total liabilities and stockholders’ equity	$	6,742,120							$	6,425,158
Net interest income				$	51,735							$	47,122
Net interest spread							3.09	%							2.98	%
Effect of interest free funds							0.18	%							0.14	%
Net interest margin							3.27	%							3.12	%

(1) Nonaccrual loans are included in the average loan balances and any interest on such nonaccrual loans is recognized on a cash basis.

34

BANCFIRST CORPORATION

CONSOLIDATED AVERAGE BALANCE SHEETS AND INTEREST MARGIN ANALYSIS

(Unaudited)

Taxable Equivalent Basis (Dollars in thousands)

	Nine Months Ended September 30,
	2016								2015
				Interest		Average						Interest		Average
	Average			Income/		Yield/			Average			Income/		Yield/
	Balance			Expense		Rate			Balance			Expense		Rate
ASSETS
Earning assets:
Loans (1)	$	4,279,894		$	153,362		4.77	%	$	3,860,299		$	140,107		4.85	%
Securities – taxable		451,824			3,913		1.15			493,702			4,148		1.12
Securities – tax exempt		40,515			1,148		3.77			39,912			1,123		3.76
Interest-bearing deposits w/ banks & FFS		1,471,623			5,622		0.51			1,644,708			3,137		0.25
Total earning assets		6,243,856			164,045		3.50			6,038,621			148,515		3.29
Nonearning assets:
Cash and due from banks		175,738								175,714
Interest receivable and other assets		336,188								315,074
Allowance for loan losses		(44,180	)							(41,633	)
Total nonearning assets		467,746								449,155
Total assets	$	6,711,602							$	6,487,776
LIABILITIES AND STOCKHOLDERS’ EQUITY
Interest-bearing liabilities:
Transaction deposits	$	785,496		$	609		0.10	%	$	720,175		$	532		0.10	%
Savings deposits		2,082,417			5,112		0.33			2,047,022			3,463		0.23
Time deposits		710,566			3,600		0.67			730,717			3,607		0.66
Short-term borrowings		1,657			5		0.36			2,671			3		0.15
Junior subordinated debentures		31,959			1,569		6.54			26,804			1,474		7.35
Total interest-bearing liabilities		3,612,095			10,895		0.40			3,527,389			9,079		0.34
Interest-free funds:
Noninterest-bearing deposits		2,399,275								2,302,164
Interest payable and other liabilities		25,232								26,839
Stockholders’ equity		675,000								631,384
Total interest free funds		3,099,507								2,960,387
Total liabilities and stockholders’ equity	$	6,711,602							$	6,487,776
Net interest income				$	153,150							$	139,436
Net interest spread							3.10	%							2.95	%
Effect of interest free funds							0.17	%							0.14	%
Net interest margin							3.27	%							3.09	%

35

Item 3. Quantitative and Qualitative Disclosures About Market Risk.

There have been no significant changes in the Registrant’s disclosures regarding market risk since December 31, 2015, the date of its most recent annual report to stockholders.

Item 4. Controls and Procedures.

The Company’s Chief Executive Officer, Chief Financial Officer and its Disclosure Committee, which includes the Company’s Chief Risk Officer, Chief Internal Auditor, Chief Asset Quality Officer, Controller, and General Counsel, have evaluated, as of the last day of the period covered by this report, the Company’s disclosure controls and procedures.  Based on their evaluation they concluded that the disclosure controls and procedures of the Company are effective to ensure that information required to be disclosed by the Company in the reports filed or submitted by it under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported, within the time periods specified in the applicable rules and forms.

No changes were made to the Company’s internal control over financial reporting during the period covered by this report that materially affected, or are likely to materially affect, the Company’s internal control over financial reporting.

36

PART II – OTHER INFORMATION

Item 1. Legal Proceedings.

The Company has been named as a defendant in various legal actions arising from the conduct of its normal business activities. Although the amount of any liability that could arise with respect to these actions cannot be accurately predicted, in the opinion of the Company, any such liability will not have a material adverse effect on the consolidated financial statements of the Company.

Item 1A. Risk Factors.

As of September 30, 2016, there have been no material changes from the risk factors previously disclosed in Part I, Item 1A, of the Company’s Annual Report on Form 10-K for the year ended December 31, 2015.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

None.

Item 3. Defaults Upon Senior Securities.

None.

Item 4. Mine Safety Disclosures.

None.

Item 5. Other Information.

None.

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Item 6. Exhibits.

Exhibit Number	Exhibit
3.1	Second Amended and Restated Certificate of Incorporation of BancFirst Corporation (filed as Exhibit 1 to the Company’s 8-A/A filed July 23, 1998 and incorporated herein by reference).
3.2	Certificate of Amendment of the Second Amended and Restated Certificate of Incorporation of BancFirst Corporation dated June 15, 2004 (filed as Exhibit 3.5 to the Company’s Quarterly Report on Form 10-Q for the Quarter Ended June 30, 2004 and incorporated herein by reference).
3.3	Amended and Restated By-Laws of BancFirst Corporation (filed as Exhibit 3.1 to the Company’s Current Report on Form 8-K dated March 30, 2015 and incorporated herein by reference).
3.4	Certificate of Amendment of the Second Amended and Restated Certificate of Incorporation of BancFirst Corporation dated May 23, 2013 (filed as Exhibit 3.1 to the Company’s Current Report on Form 8-K dated May 29, 2013 and incorporated herein by reference).
4.1	Instruments defining the rights of securities holders (see Exhibits 3.1, 3.2, 3.3 and 3.4 above).
4.2	Form of Amended and Restated Trust Agreement relating to the 7.20% Cumulative Trust Preferred Securities of BFC Capital Trust II (filed as Exhibit 4.5 to the Company’s registration statement on Form S-3/A, File No. 333-112488 dated February 23, 2004, and incorporated herein by reference).
4.3	Form of 7.20% Cumulative Trust Preferred Security Certificate for BFC Capital Trust II (filed as Exhibit D to Exhibit 4.5 to the Company’s registration statement on Form S-3/A, File No. 333-112488 dated February 23, 2004, and incorporated herein by reference).
4.4	Form of Indenture relating to the 7.20% Junior Subordinated Deferrable Interest Debentures of BancFirst Corporation issued to BFC Capital Trust II (filed as Exhibit 4.1 to the Company’s registration statement on Form S-3, File No. 333-112488 dated February 4, 2004, and incorporated herein by reference).
4.5	Form of Certificate of 7.20% Junior Subordinated Deferrable Interest Debenture of BancFirst Corporation (filed as Exhibit 4.2 to the Company’s registration statement on Form S-3, File No. 333-112488 dated February 4, 2004, and incorporated herein by reference).
4.6	Form of Guarantee of BancFirst Corporation relating to the 7.20% Cumulative Trust Preferred Securities of BFC Capital Trust II (filed as Exhibit 4.7 to the Company’s registration statement on Form S-3/A, File No. 333-112488 dated February 23, 2004, and incorporated herein by reference).
4.7	Form of Guarantee Agreement by and between CSB Bancshares, Inc. and Wilmington Trust Company (filed as Exhibit 4.7 to the Company’s Quarterly Report on Form 10-Q for the Quarter ended September 30, 2015 and incorporated herein by reference).
4.8	Form of Indenture relating to the Floating Rate Junior Subordinated Deferrable Interest Debentures of CSB Bancshares, Inc., issued to Wilmington Trust Company (filed as Exhibit 4.8 to the Company’s Quarterly Report on Form 10-Q for the Quarter ended September 30, 2015 and incorporated herein by reference).
4.9	Form of First Supplemental Indenture relating to the Floating Rate Junior Subordinated Deferrable Interest Debentures by and between Wilmington Trust Company and BancFirst Corporation (filed as Exhibit 4.9 to the Company’s Quarterly Report on Form 10-Q for the Quarter ended September 30, 2015 and incorporated herein by reference).
10.1	BancFirst Corporation Employee Stock Ownership and Trust Agreement adopted effective January 1, 2015 (filed as Exhibit 10.1 to the Company’s Quarterly Report on Form 10-Q for the Quarter Ended March 31, 2015 and incorporated herein by reference).
10.2	Fifth Amended and Restated BancFirst Corporation Directors’ Stock Option Plan (filed as Exhibit 10.2 to the Company’s Quarterly Report on Form 10-Q for the Quarter ended June 30, 2016 and incorporated herein by reference).
10.3	Fifth Amended and Restated BancFirst Corporation Directors’ Deferred Stock Compensation Plan (filed as Exhibit 10.3 to the Company’s Quarterly Report on Form 10-Q for the Quarter ended June 30, 2016 and incorporated herein by reference).
10.4	Fourteenth Amended and Restated BancFirst Corporation Stock Option Plan (filed as Exhibit 10.4 to the Company’s Quarterly Report on Form 10-Q for the Quarter ended June 30, 2016 and incorporated herein by reference).

38

Exhibit Number	Exhibit
10.5	Adoption Agreement for the BancFirst Corporation Thrift Plan adopted April 21, 2016 effective January 1, 2016. (filed as Exhibit 10.5 to the Company’s Quarterly Report on Form 10-Q for the Quarter Ended March 31, 2016 and incorporated herein by reference).
31.1*	Chief Executive Officer’s Certification pursuant to Rule 13a-14(a) or Rule 15d-14(a).
31.2*	Chief Financial Officer’s Certification pursuant to Rule 13a-14(a) or Rule 15d-14(a).
32.1*	CEO’s Certification Pursuant to 18 U.S.C. Section 1350, As Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
32.2*	CFO’s Certification Pursuant to 18 U.S.C. Section 1350, As Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
101.INS*	XBRL Instance Document
101.SCH*	XBRL Taxonomy Extension Schema
101.CAL*	XBRL Taxonomy Extension Calculation Linkbase
101.DEF*	XBRL Taxonomy Extension Definition Linkbase
101.LAB*	XBRL Taxonomy Extension Label Linkbase
101.PRE*	XBRL Taxonomy Extension Presentation Linkbase

* Filed herewith.

39

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	BANCFIRST CORPORATION
	(Registrant)
Date:  November 4, 2016	/s/ David E. Rainbolt
	David E. Rainbolt
	President
	Chief Executive Officer
	(Principal Executive Officer)
Date:  November 4, 2016	/s/ Kevin Lawrence
	Kevin Lawrence
	Executive Vice President
	Chief Financial Officer
	(Principal Financial Officer)

40

EX-31.1

Exhibit 31.1

CEO’S CERTIFICATION PURSUANT TO RULE 13a-14(a) OR RULE 15d-14(a)

I, David E. Rainbolt, certify that:

1. I have reviewed this quarterly report on Form 10-Q for the quarterly period ended September 30, 2016 of BancFirst Corporation;

2. Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report;

3. Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a – 15 (e) and 15d – 15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a – 15(f) and 15d – 15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this quarterly report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this quarterly report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this quarterly report based on such evaluation; and

d) Disclosed in this quarterly report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors:

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal controls over financial reporting.

Date:  November 4, 2016	/s/ David E. Rainbolt
	David E. Rainbolt
	President and Chief Executive Officer
	(Principal Executive Officer)

EX-31.2

Exhibit 31.2

CFO’S CERTIFICATION PURSUANT TO RULE 13a-14(a) OR RULE 15d-14(a)

I, Kevin Lawrence, certify that:

1. I have reviewed this quarterly report on Form 10-Q for the quarterly period ended September 30, 2016 of BancFirst Corporation;

2. Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report;

3. Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a – 15 (e) and 15d – 15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a – 15(f) and 15d – 15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this quarterly report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this quarterly report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this quarterly report based on such evaluation; and

d) Disclosed in this quarterly report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors:

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal controls over financial reporting.

Date:  November 4, 2016	/s/ Kevin Lawrence
	Kevin Lawrence
	Executive Vice President
	Chief Financial Officer
	(Principal Financial Officer)

EX-32.1

Exhibit 32.1

CEO’s Certification Pursuant to

18 U.S.C. Section 1350,

As Adopted Pursuant to

Section 906 of the SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report on Form 10-Q of BancFirst Corporation (the “Company”) for the period ended September 30, 2016 as filed with the Securities and Exchange Commission (the “Report”), I, David E. Rainbolt, Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. section 1350, as adopted pursuant to section 906 of the Sarbanes-Oxley Act of 2002, that to the best of my knowledge:

(1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ David E. Rainbolt

David E. Rainbolt

President and Chief Executive Officer

(Principal Executive Officer)

November 4, 2016

EX-32.2

Exhibit 32.2

CFO’s Certification Pursuant to

18 U.S.C. Section 1350,

As Adopted Pursuant to

Section 906 of the SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report on Form 10-Q of BancFirst Corporation (the “Company”) for the period ended September 30, 2016 as filed with the Securities and Exchange Commission (the “Report”), I, Kevin Lawrence, Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. section 1350, as adopted pursuant to section 906 of the Sarbanes-Oxley Act of 2002, that to the best of my knowledge:

(1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ Kevin Lawrence

Kevin Lawrence

Executive Vice President

Chief Financial Officer

(Principal Financial Officer)

November 4, 2016

XML

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Oct. 31, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	Q3
Trading Symbol	BANF
Entity Registrant Name	BANCFIRST CORP /OK/
Entity Central Index Key	0000760498
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		15,708,383

XML

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
ASSETS
Cash and due from banks	$ 174,061	$ 203,364
Interest-bearing deposits with banks	1,532,095	1,394,813
Federal funds sold	500
Securities (fair value: $473,785 and $553,010, respectively)	473,738	552,949
Loans held for sale	9,685	13,725
Loans (net of unearned interest)	4,307,827	4,232,048
Allowance for loan losses	(48,061)	(41,666)
Loans, net of allowance for loan losses	4,259,766	4,190,382
Premises and equipment, net	126,415	126,813
Other real estate owned	4,038	7,984
Intangible assets, net	13,898	15,695
Goodwill	54,042	54,042
Accrued interest receivable and other assets	135,299	133,062
Total assets	6,783,537	6,692,829
Deposits:
Noninterest-bearing	2,477,107	2,409,769
Interest-bearing	3,547,842	3,563,589
Total deposits	6,024,949	5,973,358
Short-term borrowings	4,000	500
Accrued interest payable and other liabilities	28,898	31,502
Junior subordinated debentures	31,959	31,959
Total liabilities	6,089,806	6,037,319
Stockholders' equity:
Common stock, $1.00 par, 20,000,000 shares authorized; shares issued and outstanding: 15,695,083 and 15,597,446, respectively	15,695	15,597
Capital surplus	111,012	102,865
Retained earnings	565,039	535,521
Accumulated other comprehensive income, net of income tax of $1,252 and $962, respectively	1,985	1,527
Total stockholders' equity	693,731	655,510
Total liabilities and stockholders' equity	6,783,537	6,692,829
Senior Preferred Stock [Member]
Stockholders' equity:
Preferred stock, value
Cumulative Preferred Stock [Member]
Stockholders' equity:
Preferred stock, value

XML

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Securities, fair value	$ 473,785	$ 553,010
Common stock, par value	$ 1.00	$ 1.00
Common stock, shares authorized	20,000,000	20,000,000
Common stock, shares issued	15,695,083	15,597,446
Common stock, shares outstanding	15,695,083	15,597,446
Accumulated other comprehensive income, tax	$ 1,252	$ 962
Senior Preferred Stock [Member]
Preferred stock, par value	$ 1.00	$ 1.00
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Cumulative Preferred Stock [Member]
Preferred stock, par value	$ 5.00	$ 5.00
Preferred stock, shares authorized	900,000	900,000
Preferred stock, shares issued	0	0

XML

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
INTEREST INCOME
Loans, including fees	$ 51,647	$ 47,342	$ 152,888	$ 139,781
Securities:
Taxable	1,242	1,291	3,913	4,148
Tax-exempt	248	249	746	730
Federal funds sold	1		1
Interest-bearing deposits with banks	1,968	1,009	5,622	3,137
Total interest income	55,106	49,891	163,170	147,796
INTEREST EXPENSE
Deposits	3,149	2,522	9,321	7,602
Short-term borrowings	2	1	5	3
Junior subordinated debentures	524	492	1,569	1,474
Total interest expense	3,675	3,015	10,895	9,079
Net interest income	51,431	46,876	152,275	138,717
Provision for loan losses	2,940	1,424	9,847	4,029
Net interest income after provision for loan losses	48,491	45,452	142,428	134,688
NONINTEREST INCOME
Trust revenue	2,685	2,295	7,752	6,837
Service charges on deposits	16,033	14,910	46,228	42,574
Securities transactions (includes accumulated other comprehensive income reclassifications of $(85), $0, $15 and $3,912, respectively)	(146)		(111)	7,121
Income from sales of loans	863	545	2,120	1,534
Insurance commissions	4,372	4,427	11,762	11,615
Cash management	2,853	1,906	7,903	5,611
Gain on sale of other assets	2	27	61	108
Other	1,265	1,214	3,886	3,935
Total noninterest income	27,927	25,324	79,601	79,335
NONINTEREST EXPENSE
Salaries and employee benefits	30,591	28,746	89,956	84,145
Occupancy, net	3,217	3,051	9,115	8,586
Depreciation	2,556	2,488	7,653	7,401
Amortization of intangible assets	560	444	1,721	1,333
Data processing services	1,178	1,132	3,567	3,428
Net expense (income) from other real estate owned	162	51	(944)	181
Marketing and business promotion	1,779	1,640	5,258	4,720
Deposit insurance	641	820	2,335	2,482
Other	8,520	7,980	24,554	24,428
Total noninterest expense	49,204	46,352	143,215	136,704
Income before taxes	27,214	24,424	78,814	77,319
Income tax expense	9,232	8,794	26,760	26,877
Net income	$ 17,982	$ 15,630	$ 52,054	$ 50,442
NET INCOME PER COMMON SHARE
Basic	$ 1.15	$ 1.01	$ 3.34	$ 3.25
Diluted	$ 1.13	$ 0.98	$ 3.28	$ 3.18
OTHER COMPREHENSIVE INCOME
Unrealized (losses) gains on securities, net of tax of $423, $(91), $(296) and $(507), respectively	$ (670)	$ 145	$ 467	$ 803
Reclassification adjustment for losses (gains) included in net income, net of tax of $(33), $0, $6 and $1,513, respectively	52		(9)	(2,399)
Other comprehensive (losses) gains, net of tax of $390, $(91), $(290) and $1,006, respectively	(618)	145	458	(1,596)
Comprehensive income	$ 17,364	$ 15,775	$ 52,512	$ 48,846

XML

Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Statement [Abstract]
Securities transactions accumulated other comprehensive income reclassifications	$ (85)	$ 0	$ 15	$ 3,912
Unrealized (losses) gains on securities, tax	423	(91)	(296)	(507)
Reclassification adjustment for losses (gains) included in net income, tax	(33)	0	6	1,513
Other comprehensive (losses) gains, tax	$ 390	$ (91)	$ (290)	$ 1,006

XML

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	COMMON STOCK [Member]	CAPITAL SURPLUS [Member]	RETAINED EARNINGS [Member]	ACCUMULATED OTHER COMPREHENSIVE INCOME [Member]
Balance at beginning of period at Dec. 31, 2014		$ 15,504	$ 96,841	$ 492,776	$ 4,193
Shares issued, Value		87	2,065
Net income	$ 50,442			50,442
Net change	(1,596)				(1,596)
Tax effect of stock options			686
Dividends on common stock				(16,180)
Stock-based compensation arrangements			1,243
Balance at end of period at Sep. 30, 2015	646,061	15,591	100,835	527,038	2,597
Balance at beginning of period at Jun. 30, 2015		15,562	99,202	517,028	2,452
Shares issued, Value		29	749
Net income	15,630			15,630
Net change	145				145
Tax effect of stock options			395
Dividends on common stock				(5,620)
Stock-based compensation arrangements			489
Balance at end of period at Sep. 30, 2015	646,061	15,591	100,835	527,038	2,597
Balance at beginning of period at Dec. 31, 2015	655,510	15,597	102,865	535,521	1,527
Shares issued, Value		198	5,634
Net income	52,054			52,054
Net change	458				458
Tax effect of stock options			1,247
Dividends on common stock				(17,113)
Stock-based compensation arrangements			1,266
Shares acquired and canceled, Value		(100)		(5,423)
Balance at end of period at Sep. 30, 2016	693,731	15,695	111,012	565,039	1,985
Balance at beginning of period at Jun. 30, 2016		15,560	105,676	552,991	2,603
Shares issued, Value		135	3,767
Net income	17,982			17,982
Net change	(618)				(618)
Tax effect of stock options			1,204
Dividends on common stock				(5,934)
Stock-based compensation arrangements			365
Balance at end of period at Sep. 30, 2016	$ 693,731	$ 15,695	$ 111,012	$ 565,039	$ 1,985

XML

Consolidated Statements of Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
RETAINED EARNINGS [Member]
Dividend on common stock	$ 0.38	$ 0.36	$ 1.10	$ 1.04

XML

Consolidated Statements of Cash Flow (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 52,054	$ 50,442
Adjustments to reconcile to net cash provided by operating activities:
Provision for loan losses	9,847	4,029
Depreciation and amortization	9,374	8,734
Net amortization of securities premiums and discounts	161	747
Realized securities losses (gains)	111	(7,121)
Gain on sales of loans	(2,120)	(1,534)
Cash receipts from the sale of loans originated for sale	143,044	132,957
Cash disbursements for loans originated for sale	(136,903)	(134,396)
Deferred income tax benefit	(3,069)	(1,029)
Gain on other assets	(1,294)	(76)
Increase in interest receivable	73	8
Decrease in interest payable	(22)	(64)
Amortization of stock-based compensation arrangements	1,266	1,243
Other, net	(1,684)	4,797
Net cash provided by operating activities	70,838	58,737
INVESTING ACTIVITIES
Net increase in federal funds sold	(500)
Purchases of held for investment securities	(806)	(1,085)
Purchases of available for sale securities	(78,592)	(41,424)
Proceeds from maturities, calls and paydowns of held for investment securities	5,039	1,344
Proceeds from maturities, calls and paydowns of available for sale securities	153,620	53,285
Proceeds from sales of available for sale securities	426	8,576
Net change in loans	(82,782)	(113,740)
Purchases of premises, equipment and computer software	(7,845)	(9,535)
Proceeds from the sale of other assets	8,740	4,324
Net cash used in investing activities	(2,700)	(98,255)
FINANCING ACTIVITIES
Net change in deposits	51,591	(206,113)
Net increase/(decrease) in short-term borrowings	3,500	(205)
Issuance of common stock, net	7,079	2,838
Common stock acquired	(5,523)
Cash dividends paid	(16,806)	(15,836)
Net cash provided by (used in) financing activities	39,841	(219,316)
Net increase/(decrease) in cash, due from banks and interest-bearing deposits	107,979	(258,834)
Cash, due from banks and interest-bearing deposits at the beginning of the period	1,598,177	1,913,895
Cash, due from banks and interest-bearing deposits at the end of the period	1,706,156	1,655,061
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid during the period for interest	10,919	9,142
Cash paid during the period for income taxes	26,200	26,531
Noncash investing and financing activities:
Unpaid common stock dividends declared	$ 5,922	$ 5,609

XML

Description of Business and Summary of Significant Accounting Policies

9 Months Ended

Sep. 30, 2016

Accounting Policies [Abstract]

Description of Business and Summary of Significant Accounting Policies

(1) DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The accounting and reporting policies of BancFirst Corporation and its subsidiaries (the “Company”) conform to accounting principles generally accepted in the United State of America (U.S. GAAP) and general practice within the banking industry. A summary of significant accounting policies can be found in Note (1) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2015.

Basis of Presentation

The accompanying unaudited interim consolidated financial statements include the accounts of BancFirst Corporation, Council Oak Partners, LLC, BancFirst Insurance Services, Inc. and BancFirst and its subsidiaries. The principal operating subsidiaries of BancFirst are Council Oak Investment Corporation, Council Oak Real Estate, Inc. and BancFirst Agency, Inc.  All significant intercompany accounts and transactions have been eliminated. Assets held in a fiduciary or agency capacity are not assets of the Company and, accordingly, are not included in the unaudited interim consolidated financial statements.

The accompanying unaudited interim consolidated financial statements and notes are presented in accordance with the instructions for Form 10-Q. The information contained in the financial statements and footnotes included in BancFirst Corporation’s Annual Report on Form 10-K for the year ended December 31, 2015, should be referred to in connection with these unaudited interim consolidated financial statements. Operating results for the interim periods disclosed herein are not necessarily indicative of the results that may be expected for a full year or any future period.

The unaudited interim consolidated financial statements contained herein reflect all adjustments which are, in the opinion of management, necessary to provide a fair statement of the financial position and results of operations of the Company for the interim periods presented. All such adjustments are of a normal and recurring nature. There have been no significant changes in the accounting policies of the Company since December 31, 2015, the date of the most recent annual report.

Reclassifications

Certain items in prior financial statements have been reclassified to conform to the current presentation. Such reclassifications had no effect on previously reported cash flows, stockholders’ equity or comprehensive income.

Use of Estimates in the Preparation of Financial Statements

The preparation of financial statements in conformity with accounting principles generally accepted in the United States inherently involves the use of estimates and assumptions that affect the amounts reported in the financial statements and the related disclosures. These estimates relate principally to the determination of the allowance for loan losses, income taxes, the fair value of financial instruments and the valuation of intangibles. Such estimates and assumptions may change over time and actual amounts realized may differ from those reported.

Recent Accounting Pronouncements

In August 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments.” ASU 2016-15 is intended to reduce the diversity in practice around how certain transactions are classified within the statement of cash flows. ASU 2016-15 will be effective on January 1, 2018. Early adoption is permitted with retrospective applications. The Company is currently evaluating the potential impact of ASU 2016-15 on its financial statements.

In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” ASU 2016-13 requires a financial asset measured at amortized cost basis to be presented at the net amount expected to be collected. The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. ASU 2016-13 requires enhanced disclosures related to the significant estimates and judgements used in estimating credit losses, as well as the credit quality and underwriting standards of an organization’s portfolio. In addition, ASU 2016-13 amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. ASU 2016-13 will be effective on January 1, 2020. The Company is currently evaluating the potential impact of ASU 2016-13 on its financial statements.

In March 2016, the FASB issued ASU No. 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.” Under ASU 2016-09 all excess tax benefits and tax deficiencies related to share-based payment awards should be recognized as income tax expense or benefit in the income statement during the period in which they occur. Previously, such amounts were recorded in the pool of excess tax benefits included in additional paid-in capital, if such pool was available. Because excess tax benefits are no longer recognized in additional paid-in capital, the assumed proceeds from applying the treasury stock method when computing earnings per share should exclude the amount of excess tax benefits that would have previously been recognized in additional paid-in capital. Additionally, excess tax benefits should be classified along with other income tax cash flows as an operating activity rather than a financing activity, as was previously the case. ASU 2016-09 also provides that an entity can make an entity-wide accounting policy election to either estimate the number of awards that are expected to vest (current GAAP) or account for forfeitures when they occur. ASU 2016-09 changes the threshold to qualify for equity classification (rather than as a liability) to permit withholding up to the maximum statutory tax rates (rather than the minimum as was previously the case) in the applicable jurisdictions. ASU 2016-09 will be effective on January 1, 2017 and is not expected to have a significant impact on the Company’s financial statements.

In February 2016, the FASB issued ASU No. 2016-02, “Leases - (Topic 842).” ASU 2016-02 requires that lessees recognize on the balance sheet the assets and liabilities for the rights and obligations created by leases. The amendments are effective for annual periods, and interim reporting periods within those annual periods, beginning after December 15, 2018. Early adoption is permitted. Adoption of ASU 2016-02 is not expected to have a significant impact on the Company’s financial statements.

In January 2016, the FASB issued ASU No. 2016-01, “Financial Instruments - Overall (Subtopic 825-10).” ASU 2016-01 require all equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) to be measured at fair value with changes in the fair value recognized through net income. In addition, the amendment will require an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. The amendments are effective for annual periods, and interim reporting periods within those annual periods, beginning after December 15, 2017. Early adoption is not permitted. Adoption of ASU 2016-01 is not expected to have a significant impact on the Company’s financial statements.

In August 2014, the FASB issued ASU No. 2014-15, “Presentation of Financial Statements – Going Concern (Topic 205-40).”  ASU 2014-15 provides guidance on management’s responsibility in evaluating whether there is substantial doubt about the Company’s ability to continue as a going concern and related footnote disclosures. For each reporting period, management will be required to evaluate whether there are conditions or events that raise substantial doubt about the Company’s ability to continue as a going concern within one year from the date the financial statements are issued.  The amendments are effective for annual periods, and interim reporting periods within those annual periods, beginning after December 15, 2016. Early adoption is permitted. Adoption of ASU 2014-15 is not expected to have a significant impact on the Company’s financial statements.

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Recent Developments, Including Mergers and Acquisitions

9 Months Ended

Sep. 30, 2016

Recent Developments Including Mergers And Acquisitions [Abstract]

Recent Developments, Including Mergers and Acquisitions

(2) RECENT DEVELOPMENTS, INCLUDING MERGERS AND ACQUISITIONS

On October 8, 2015, the Company completed its acquisition of CSB Bancshares Inc. and its subsidiary bank, Bank of Commerce, with locations in Yukon, Mustang and El Reno, Oklahoma. Bank of Commerce had approximately $196 million in total assets, $147 million in loans, $175 million in deposits and $22 million in equity capital. The acquisition was accounted for under the acquisition method and the Company acquired 100% of the voting interest. Bank of Commerce operated as a subsidiary of BancFirst Corporation until it was merged into BancFirst on November 13, 2015. As a result of the acquisition, the Company recorded a core deposit intangible of approximately $7.1 million and goodwill of approximately $9.4 million. The effect of this acquisition was included in the consolidated financial statements of the Company from the date of acquisition forward. The acquisition did not have a material effect on the Company’s consolidated financial statements. The acquisition of CSB Bancshares Inc. and its subsidiary bank, Bank of Commerce complemented the Company’s community banking strategy by adding two communities to its banking network throughout Oklahoma.

During the quarter ended March 31, 2016, the Company had gains on the sale of other real estate owned totaling $1.2 million that is included in net expense (income) from other real estate owned in the consolidated statements of comprehensive income.

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Securities

9 Months Ended

Sep. 30, 2016

Investments Debt And Equity Securities [Abstract]

Securities

(3) SECURITIES

The following table summarizes securities held for investment and securities available for sale:

	September 30, 2016		December 31, 2015
	(Dollars in thousands)
Held for investment, at cost (fair value: $4,601 and $8,850, respectively)	$	4,554	$	8,789
Available for sale, at fair value		469,184		544,160
Total	$	473,738	$	552,949

The following table summarizes the amortized cost and estimated fair values of securities held for investment:

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
September 30, 2016	(Dollars in thousands)
Mortgage backed securities (1)	$	273	$	21	$	—		$	294
States and political subdivisions		3,781		28		(2	)		3,807
Other securities		500		—		—			500
Total	$	4,554	$	49	$	(2	)	$	4,601
December 31, 2015
Mortgage backed securities (1)	$	347	$	25	$	—		$	372
States and political subdivisions		7,942		36		—			7,978
Other securities		500		—		—			500
Total	$	8,789	$	61	$	—		$	8,850

The following table summarizes the amortized cost and estimated fair values of securities available for sale:

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
September 30, 2016	(Dollars in thousands)
U.S. treasuries	$	204,350	$	1,773	$	—		$	206,123
U.S. federal agencies		192,271		494		(117	)		192,648
Mortgage backed securities (1)		20,467		379		(561	)		20,285
States and political subdivisions		42,412		1,354		(62	)		43,704
Other securities (2)		6,447		125		(148	)		6,424
Total	$	465,947	$	4,125	$	(888	)	$	469,184
December 31, 2015
U.S. treasuries	$	328,965	$	776	$	(45	)	$	329,696
U.S. federal agencies		131,522		527		(153	)		131,896
Mortgage backed securities (1)		21,973		425		(543	)		21,855
States and political subdivisions		49,521		1,447		(48	)		50,920
Other securities (2)		9,689		249		(145	)		9,793
Total	$	541,670	$	3,424	$	(934	)	$	544,160

(1) Primarily consists of FHLMC, FNMA, GNMA and mortgage backed securities through U.S. agencies.

(2) Primarily consists of equity securities.

Realized gains are reported as securities transactions within the noninterest income section of the consolidated statement of comprehensive income. In January 2015, Council Oak Investment Corporation, a wholly-owned subsidiary of BancFirst, recognized a pretax gain of approximately $1.7 million from the sale of one of its equity investments. In June 2015, Council Oak Partners, LLC, a wholly-owned subsidiary of the Company, recognized a pretax gain of approximately $5.3 million from the sale of one of its equity investments.

The maturities of securities held for investment and available for sale are summarized in the following table using contractual maturities. Actual maturities may differ from contractual maturities due to obligations that are called or prepaid. For purposes of the maturity table, mortgage-backed securities, which are not due at a single maturity date, have been presented at their contractual maturity.

	September 30, 2016				December 31, 2015
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
	(Dollars in thousands)
Held for Investment
Contractual maturity of debt securities:
Within one year	$	1,637	$	1,646	$	5,168	$	5,174
After one year but within five years		2,162		2,179		2,800		2,829
After five years but within ten years		736		756		795		319
After ten years		19		20		26		528
Total	$	4,554	$	4,601	$	8,789	$	8,850
Available for Sale
Contractual maturity of debt securities:
Within one year	$	205,834	$	206,093	$	272,820	$	272,779
After one year but within five years		178,939		181,187		178,617		180,145
After five years but within ten years		6,608		7,088		8,483		9,075
After ten years		68,119		68,392		75,522		75,853
Total debt securities		459,500		462,760		535,442		537,852
Other securities		6,447		6,424		6,228		6,308
Total	$	465,947	$	469,184	$	541,670	$	544,160

The following table is a summary of the Company’s book value of securities that were pledged as collateral for public funds on deposit, repurchase agreements and for other purposes as required or permitted by law:

	September 30, 2016		December 31, 2015
	(Dollarsin thousands)
Book value of pledged securities	$	419,481	$	493,540

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Loans and Allowance for Loan Losses

9 Months Ended

Sep. 30, 2016

Receivables [Abstract]

Loans and Allowance for Loan Losses

(4) LOANS AND ALLOWANCE FOR LOAN LOSSES

The following is a schedule of loans outstanding by category:

	September 30, 2016					December 31, 2015
	Amount		Percent			Amount		Percent
	(Dollars in thousands)
Commercial and financial:
Commercial and industrial	$	792,335		18.39	%	$	795,803		18.80	%
Oil & gas production and equipment		75,627		1.76			87,304		2.06
Agriculture		136,150		3.16			150,620		3.56
State and political subdivisions:
Taxable		39,160		0.91			17,605		0.42
Tax-exempt		39,930		0.93			33,575		0.79
Real estate:
Construction		402,901		9.35			403,664		9.54
Farmland		191,218		4.44			184,707		4.36
One to four family residences		845,360		19.62			821,251		19.41
Multifamily residential properties		59,967		1.39			65,477		1.55
Commercial		1,410,730		32.75			1,356,430		32.05
Consumer		277,671		6.45			283,636		6.70
Other (not classified above)		36,778		0.85			31,976		0.76
Total loans	$	4,307,827		100.00	%	$	4,232,048		100.00	%

The Company’s commercial and industrial loan category includes a small percentage of loans to companies that provide ancillary services to the oil and gas industry, such as transportation, preparation contractors and equipment manufacturers. The balance of these loans at September 30, 2016 was approximately $54 million.

The Company’s loans are mostly to customers within Oklahoma and over 65% of the loans are secured by real estate.  Credit risk on loans is managed through limits on amounts loaned to individual borrowers, underwriting standards and loan monitoring procedures. The amounts and types of collateral obtained, if any, to secure loans are based upon the Company’s underwriting standards and management’s credit evaluation. Collateral varies, but may include real estate, equipment, accounts receivable, inventory, livestock and securities. The Company’s interest in collateral is secured through filing mortgages and liens, and in some cases, by possession of the collateral.

Accounting policies related to appraisals, nonaccruals and charge-offs are disclosed in Note (1) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2015.

Nonperforming and Restructured Assets

The following is a summary of nonperforming and restructured assets:

	September 30,		December 31,
	2016		2015
	(Dollars in thousands)
Past due 90 days or more and still accruing	$	1,906	$	1,841
Nonaccrual		31,014		30,096
Restructured		1,842		15,143
Total nonperforming and restructured loans		34,762		47,080
Other real estate owned and repossessed assets		4,339		8,214
Total nonperforming and restructured assets	$	39,101	$	55,294

Had nonaccrual loans performed in accordance with their original contractual terms, the Company would have recognized additional interest income of approximately $1.5 million for the nine months ended September 30, 2016 and approximately $1.5 million for the nine months ended September 30, 2015.

Restructured loans at December 31, 2015 consisted primarily of one relationship restructured in prior periods to defer certain principal payments. This relationship was re-evaluated and removed from restructured loans in 2016 due to sustained improvement in financial condition, performance and the commercially reasonable nature of its structure. The Company charges interest on principal balances outstanding during deferral periods. As a result, the current and future financial effects of the recorded balance of loans considered to be restructured were not considered to be material.

Loans are segregated into classes based upon the nature of the collateral and the borrower. These classes are used to estimate the credit risk component in the allowance for loan losses. The following table is a summary of amounts included in nonaccrual loans, segregated by class of loans. Residential real estate refers to one-to-four family real estate.

	September 30,		December 31,
	2016		2015
	(Dollars in thousands)
Real estate:
Non-residential real estate owner occupied	$	274	$	261
Non-residential real estate other		5,910		3,957
Residential real estate permanent mortgage		829		656
Residential real estate all other		4,694		1,833
Commercial and financial:
Non-consumer non-real estate		4,849		10,159
Consumer non-real estate		472		312
Other loans		9,008		9,381
Acquired loans		4,978		3,537
Total	$	31,014	$	30,096

The following table presents an age analysis of past due loans, segregated by class of loans:

	Age Analysis of Past Due Loans
	30-59 Days Past Due		60-89 Days Past Due		90 Days and Greater		Total Past Due Loans		Current Loans		Total Loans		Accruing Loans 90 Days or More Past Due
	(Dollars in thousands)
As of September 30, 2016
Real estate:
Non-residential real estate owner occupied	$	3,899	$	704	$	506	$	5,109	$	521,548	$	526,657	$	269
Non-residential real estate other		504		86		1,995		2,585		1,126,466		1,129,051		91
Residential real estate permanent mortgage		2,278		895		1,029		4,202		327,619		331,821		468
Residential real estate all other		1,952		526		1,459		3,937		730,581		734,518		469
Commercial and financial:
Non-consumer non-real estate		5,203		1,522		465		7,190		989,351		996,541		196
Consumer non-real estate		2,020		758		456		3,234		278,381		281,615		270
Other loans		1,208		235		8,199		9,642		138,276		147,918		—
Acquired loans		473		1,023		460		1,956		157,750		159,706		143
Total	$	17,537	$	5,749	$	14,569	$	37,855	$	4,269,972	$	4,307,827	$	1,906
As of December 31, 2015
Real estate:
Non-residential real estate owner occupied	$	441	$	179	$	183	$	803	$	502,094	$	502,897	$	—
Non-residential real estate other		1,149		108		568		1,825		1,108,935		1,110,760		521
Residential real estate permanent mortgage		2,840		636		648		4,124		328,477		332,601		493
Residential real estate all other		2,842		609		824		4,275		672,414		676,689		193
Commercial and financial:
Non-consumer non-real estate		2,278		161		187		2,626		982,136		984,762		152
Consumer non-real estate		2,237		772		349		3,358		265,511		268,869		278
Other loans		3,565		295		1,761		5,621		156,995		162,616		132
Acquired loans		1,052		71		918		2,041		190,813		192,854		72
Total	$	16,404	$	2,831	$	5,438	$	24,673	$	4,207,375	$	4,232,048	$	1,841

Impaired Loans

Loans are considered impaired when, based on current information and events, it is probable the Company will be unable to collect the full amount of scheduled principal and interest payments in accordance with the original contractual terms of the loan agreement. If a loan is impaired, a specific valuation allowance may be allocated, if necessary, so that the loan is reported, net of allowance for loss, at the present value of future cash flows using the loan’s existing rate, or the fair value of collateral if repayment is expected solely from the collateral.

The following table presents impaired loans, segregated by class of loans. No material amount of interest income was recognized on impaired loans subsequent to their classification as impaired.

	Impaired Loans
	Unpaid Principal Balance		Recorded Investment with Allowance		Related Allowance		Average Recorded Investment
	(Dollars in thousands)
As of September 30, 2016
Real estate:
Non-residential real estate owner occupied	$	728	$	645	$	48	$	531
Non-residential real estate other		8,049		6,001		335		5,653
Residential real estate permanent mortgage		1,545		1,353		108		1,019
Residential real estate all other		5,704		5,465		1,428		6,007
Commercial and financial:
Non-consumer non-real estate		11,644		6,255		1,470		7,347
Consumer non-real estate		898		863		235		909
Other loans		10,440		9,008		1,851		9,191
Acquired loans		7,265		5,344		—		4,015
Total	$	46,273	$	34,934	$	5,475	$	34,672
As of December 31, 2015
Real estate:
Non-residential real estate owner occupied	$	507	$	383	$	14	$	446
Non-residential real estate other		21,068		19,052		357		19,655
Residential real estate permanent mortgage		1,401		1,209		81		1,125
Residential real estate all other		2,498		2,235		242		1,958
Commercial and financial:
Non-consumer non-real estate		13,897		10,312		2,062		11,786
Consumer non-real estate		738		715		181		652
Other loans		10,722		9,513		331		10,335
Acquired loans		6,295		4,248		—		4,564
Total	$	57,126	$	47,667	$	3,268	$	50,521

Credit Risk Monitoring and Loan Grading

The Company considers various factors to monitor the credit risk in the loan portfolio including volume and severity of loan delinquencies, nonaccrual loans, internal grading of loans, historical loan loss experience and economic conditions.

An internal risk grading system is used to indicate the credit risk of loans. The loan grades used by the Company are for internal risk identification purposes and do not directly correlate to regulatory classification categories or any financial reporting definitions.

The general characteristics of the risk grades are disclosed in Note (5) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2015.

The following table presents internal loan grading by class of loans:

	Internal Loan Grading
	Grade
		1		2		3		4		5	Total
	(Dollars in thousands)
As of September 30, 2016
Real estate:
Non-residential real estate owner occupied	$	432,000	$	78,484	$	15,602	$	571	$	—	$	526,657
Non-residential real estate other		941,523		166,984		14,607		5,937		—		1,129,051
Residential real estate permanent mortgage		291,611		31,830		6,918		1,462		—		331,821
Residential real estate all other		604,144		113,822		11,347		5,205		—		734,518
Commercial and financial:
Non-consumer non-real estate		807,385		162,879		21,309		4,968		—		996,541
Consumer non-real estate		261,859		16,461		2,499		796		—		281,615
Other loans		138,497		5,464		1,505		2,452		—		147,918
Acquired loans		102,002		32,236		20,145		5,323		—		159,706
Total	$	3,579,021	$	608,160	$	93,932	$	26,714		—	$	4,307,827
As of December 31, 2015
Real estate:
Non-residential real estate owner occupied	$	417,529	$	76,749	$	8,304	$	315	$	—	$	502,897
Non-residential real estate other		945,993		156,159		4,580		4,028		—		1,110,760
Residential real estate permanent mortgage		295,265		29,793		6,315		1,228		—		332,601
Residential real estate all other		554,007		111,879		9,109		1,694		—		676,689
Commercial and financial:
Non-consumer non-real estate		821,394		140,384		12,687		10,297		—		984,762
Consumer non-real estate		251,994		14,433		1,779		662		1		268,869
Other loans		153,416		5,851		872		2,477		—		162,616
Acquired loans		165,305		12,566		11,049		3,858		76		192,854
Total	$	3,604,903	$	547,814	$	54,695	$	24,559	$	77	$	4,232,048

Allowance for Loan Losses Methodology

The allowance for loan losses (“ALL”) methodology is disclosed in Note (5) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2015.

The following table details activity in the ALL by class of loans for the period presented. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories.

	ALL
	Balance at beginning of period		Charge- offs			Recoveries		Net charge-offs			Provisions charged to operations			Balance at end of period
	(Dollars in thousands)
Three Months Ended September 30, 2016
Real estate:
Non-residential real estate owner occupied	$	4,896	$	(1	)	$	—	$	(1	)	$	214		$	5,109
Non-residential real estate other		10,302		(5	)		1		(4	)		285			10,583
Residential real estate permanent mortgage		3,203		(58	)		10		(48	)		52			3,207
Residential real estate all other		8,293		(10	)		8		(2	)		212			8,503
Commercial and financial:
Non-consumer non-real estate		13,441		(1,053	)		31		(1,022	)		(385	)		12,034
Consumer non-real estate		2,749		(374	)		61		(313	)		443			2,879
Other loans		3,377		(18	)		2		(16	)		812			4,173
Acquired loans		305		(41	)		2		(39	)		1,307			1,573
Total	$	46,566	$	(1,560	)	$	115	$	(1,445	)	$	2,940		$	48,061
Nine Months Ended September 30, 2016
Real estate:
Non-residential real estate owner occupied	$	4,661	$	(11	)	$	—	$	(11	)	$	459		$	5,109
Non-residential real estate other		9,921		(9	)		3		(6	)		668			10,583
Residential real estate permanent mortgage		3,148		(157	)		48		(109	)		168			3,207
Residential real estate all other		6,725		(147	)		19		(128	)		1,906			8,503
Commercial and financial:
Non-consumer non-real estate		11,754		(2,358	)		77		(2,281	)		2,561			12,034
Consumer non-real estate		2,642		(729	)		137		(592	)		829			2,879
Other loans		2,648		(300	)		15		(285	)		1,810			4,173
Acquired loans		167		(58	)		18		(40	)		1,446			1,573
Total	$	41,666	$	(3,769	)	$	317	$	(3,452	)	$	9,847		$	48,061

	ALL
	Balance at beginning of period		Charge- offs			Recoveries		Net charge-offs			Provisions charged to operations			Balance at end of period
	(Dollars in thousands)
Three Months Ended September 30, 2015
Real estate:
Non-residential real estate owner occupied	$	4,503	$	—		$	—	$	—		$	36		$	4,539
Non-residential real estate other		9,880		(708	)		1		(707	)		814			9,987
Residential real estate permanent mortgage		3,110		(28	)		15		(13	)		(26	)		3,071
Residential real estate all other		6,485		(48	)		4		(44	)		168			6,609
Commercial and financial:
Non-consumer non-real estate		13,713		(2,180	)		38		(2,142	)		86			11,657
Consumer non-real estate		2,499		(152	)		35		(117	)		160			2,542
Other loans		2,431		(20	)		6		(14	)		134			2,551
Acquired loans		—		(38	)		—		(38	)		52			14
Total	$	42,621	$	(3,174	)	$	99	$	(3,075	)	$	1,424		$	40,970
Nine Months Ended September 30, 2015
Real estate:
Non-residential real estate owner occupied	$	4,406	$	(1	)	$	1	$	—		$	133		$	4,539
Non-residential real estate other		9,616		(708	)		2		(706	)		1,077			9,987
Residential real estate permanent mortgage		2,948		(124	)		29		(95	)		218			3,071
Residential real estate all other		6,269		(123	)		13		(110	)		450			6,609
Commercial and financial:
Non-consumer non-real estate		12,771		(2,349	)		76		(2,273	)		1,159			11,657
Consumer non-real estate		2,404		(382	)		90		(292	)		430			2,542
Other loans		2,359		(283	)		15		(268	)		460			2,551
Acquired loans		116		(232	)		28		(204	)		102			14
Total	$	40,889	$	(4,202	)	$	254	$	(3,948	)	$	4,029		$	40,970

The following table details the amount of ALL by class of loans for the period presented, detailed on the basis of the impairment methodology used by the Company.

	ALL
	September 30, 2016				December 31, 2015
	Individually evaluated for impairment		Collectively evaluated for impairment		Individually evaluated for impairment		Collectively evaluated for impairment
	(Dollars in thousands)
Real estate:
Non-residential real estate owner occupied.	$	633	$	4,476	$	323	$	4,338
Non-residential real estate other		880		9,703		323		9,598
Residential real estate permanent mortgage		460		2,747		399		2,749
Residential real estate all other		2,190		6,313		839		5,886
Commercial and financial:
Non-consumer non-real estate		3,445		8,589		3,365		8,389
Consumer non-real estate		580		2,299		445		2,197
Other loans		1,812		2,361		291		2,357
Acquired loans		—		1,573		—		167
Total	$	10,000	$	38,061	$	5,985	$	35,681

The following table details the loans outstanding by class of loans for the period presented, on the basis of the impairment methodology used by the Company.

	Loans
	September 30, 2016						December 31, 2015
	Individually evaluated for impairment		Collectively evaluated for impairment		Loans acquired with deteriorated credit quality		Individually evaluated for impairment		Collectively evaluated for impairment		Loans acquired with deteriorated credit quality
	(Dollars in thousands)
Real estate:
Non-residential real estate owner occupied	$	16,173	$	510,484	$	—	$	8,619	$	494,278	$	—
Non-residential real estate other		20,544		1,108,507		—		8,608		1,102,152		—
Residential real estate permanent mortgage		8,380		323,441		—		7,543		325,058		—
Residential real estate all other		16,552		717,966		—		10,803		665,886		—
Commercial and financial:
Non-consumer non-real estate		26,278		970,263		—		22,983		961,779		—
Consumer non-real estate		3,212		278,403		—		2,416		266,453		—
Other loans		2,219		145,699		—		2,323		160,293		—
Acquired loans		—		134,238		25,468		—		177,871		14,983
Total	$	93,358	$	4,189,001	$	25,468	$	63,295	$	4,153,770	$	14,983

Transfers from Loans

Transfers from loans to other real estate owned and repossessed assets are non-cash transactions, and are not included in the statements of cash flow. Transfers from loans to other real estate owned and repossessed assets during the periods presented, are summarized as follows:

	Nine Months Ended September 30,
	2016		2015
	(Dollars in thousands)
Other real estate owned	$	2,453	$	3,155
Repossessed assets		1,117		794
Total	$	3,570	$	3,949

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Intangible Assets

9 Months Ended

Sep. 30, 2016

Goodwill And Intangible Assets Disclosure [Abstract]

Intangible Assets

(5) INTANGIBLE ASSETS

The following is a summary of intangible assets:

	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
	(Dollars in thousands)
As of September 30, 2016
Core deposit intangibles	$	17,447	$	(6,151	)	$	11,296
Customer relationship intangibles		5,699		(3,331	)		2,368
Mortgage servicing intangibles		486		(252	)		234
Total	$	23,632	$	(9,734	)	$	13,898
As of December 31, 2015
Core deposit intangibles	$	20,333	$	(7,586	)	$	12,747
Customer relationship intangibles		5,699		(3,061	)		2,638
Mortgage servicing intangibles		538		(228	)		310
Total	$	26,570	$	(10,875	)	$	15,695

The following is a summary of goodwill by business segment:

					Other		Executive,
	Metropolitan		Community		Financial		Operations
	Banks		Banks		Services		& Support		Consolidated
	(Dollars in thousands)
Nine months ended September 30, 2016
Balance at beginning and end of period	$	8,078	$	40,050	$	5,464	$	450	$	54,042

Additional information for intangible assets can be found in Note (7) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2015.

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Stock-Based Compensation

9 Months Ended

Sep. 30, 2016

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock-Based Compensation

(6) STOCK-BASED COMPENSATION

The Company adopted a nonqualified incentive stock option plan (the “BancFirst ISOP”) in May 1986. The Company amended the BancFirst ISOP to increase the number of shares to be issued under the plan to 3,200,000 shares in May 2016. At September 30, 2016, 215,735 shares were available for future grants. The BancFirst ISOP will terminate on December 31, 2019. The options are exercisable beginning four years from the date of grant at the rate of 25% per year for four years. Options expire at the end of fifteen years from the date of grant. Options outstanding as of September 30, 2016 will become exercisable through the year 2023. The option price must be no less than 100% of the fair value of the stock relating to such option at the date of grant.

In June 1999, the Company adopted the BancFirst Corporation Non-Employee Directors’ Stock Option Plan (the “BancFirst Directors’ Stock Option Plan”). Each non-employee director is granted an option for 10,000 shares. The Company amended the BancFirst Directors’ Stock Option Plan to increase the number of shares to be issued under the plan to 260,000 shares in May 2016. At September 30, 2016, 40,000 shares were available for future grants. The options are exercisable beginning one year from the date of grant at the rate of 25% per year for four years, and expire at the end of fifteen years from the date of grant. Options outstanding as of September 30, 2016 will become exercisable through the year 2020. The option price must be no less than 100% of the fair value of the stock relating to such option at the date of grant.

The Company currently uses newly issued stock to satisfy stock-based exercises, but reserves the right to use treasury stock purchased under the Company’s Stock Repurchase Program (the “SRP”) in the future.

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)
Nine Months Ended September 30, 2016
Outstanding at December 31, 2015		1,018,149		$	40.69
Options granted		30,000			58.08
Options exercised		(195,174	)		29.38
Options canceled, forfeited, or expired		(30,000	)		55.88
Outstanding at September 30, 2016		822,975			43.46	9.35 Yrs	$	23,910
Exercisable at September 30, 2016		370,350			36.00	6.45 Yrs	$	13,521

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,
	2016		2015		2016		2015
	(Dollars in thousands except per share data)
Weighted average grant-date fair value per share of options granted	$	13.99	$	11.89	$	11.92	$	11.55
Total intrinsic value of options exercised		5,063		1,129		6,733		3,258
Cash received from options exercised		3,859		779		5,735		2,132
Tax benefit realized from options exercised		1,958		437		2,604		1,260

The fair value of each option grant is estimated on the date of grant using the Black-Scholes option-pricing model and is based on certain assumptions including risk-free rate of return, dividend yield, stock price volatility and the expected term.  The fair value of each option is expensed over its vesting period.

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,
	2016		2015		2016		2015
	(Dollars in thousands)
Stock-based compensation expense	$	365	$	489	$	1,266	$	1,243
Tax benefit		142		189		490		481
Stock-based compensation expense, net of tax	$	223	$	300	$	776	$	762

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:

	September 30, 2016
	(Dollars in thousands)
Unearned stock-based compensation expense	$	3,049

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,
	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 21.78%	18.23 to 19.65%
Expected term	10 Yrs	10 Yrs

The risk-free interest rate is determined by reference to the spot zero-coupon rate for the U.S. Treasury security with a maturity similar to the expected term of the options.  The dividend yield is the expected yield for the expected term.  The stock price volatility is estimated from the recent historical volatility of the Company’s stock.  The expected term is estimated from the historical option exercise experience.

In May 1999, the Company adopted the BancFirst Corporation Directors’ Deferred Stock Compensation Plan (the “BancFirst Deferred Stock Compensation Plan”). The Company amended the BancFirst Deferred Stock Compensation Plan to increase the number of shares to be issued under the plan to 111,110 shares in May 2016. Under the plan, directors and members of the community advisory boards of the Company and its subsidiaries may defer up to 100% of their board fees. They are credited for each deferral with a number of stock units based on the current market price of the Company’s stock, which accumulate in an account until such time as the director or community board member terminates serving as a board member. Shares of common stock of the Company are then distributed to the terminating director or community board member based upon the number of stock units accumulated in his or her account. The number of shares of common stock distributed from the BancFirst Deferred Stock Compensation Plan was 2,463 during the nine months ended September 30, 2016.

A summary of the accumulated stock units is as follows:

	September 30,		December 31,
	2016		2015
Accumulated stock units		68,969		66,376
Average price	$	41.12	$	39.64

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Stockholders' Equity

9 Months Ended

Sep. 30, 2016

Equity [Abstract]

Stockholders' Equity

(7) STOCKHOLDERS’ EQUITY

In November 1999, the Company adopted a Stock Repurchase Program (the “SRP”). The SRP may be used as a means to increase earnings per share and return on equity, to purchase treasury stock for the exercise of stock options or for distributions under the Deferred Stock Compensation Plan, to provide liquidity for optionees to dispose of stock from exercises of their stock options and to provide liquidity for stockholders wishing to sell their stock. All shares repurchased under the SRP have been retired and not held as treasury stock. The timing, price and amount of stock repurchases may be determined by management within the limitations of the SRP. During the third quarter of 2016 the SRP was amended to increase the remaining shares to be purchased to 150,000.

The following table is a summary of the shares under the program. All share repurchased in 2016 were purchased in the first three months of the year:

	Nine Months Ended September 30,
	2016		2015
Number of shares repurchased		100,000		—
Average price of shares repurchased	$	55.23		—
Shares remaining to be repurchased		150,000		194,723

The Company and BancFirst are subject to risk-based capital guidelines issued by the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation (“FDIC”). These guidelines are used to evaluate capital adequacy and involve both quantitative and qualitative evaluations of the Company’s and BancFirst’s assets, liabilities and certain off-balance-sheet items calculated under regulatory practices. Failure to meet the minimum capital requirements can initiate certain mandatory or discretionary actions by the regulatory agencies that could have a direct material effect on the Company’s financial statements. Management believes that as of September 30, 2016, the Company and BancFirst met all capital adequacy requirements to which they are subject.  The actual and required capital amounts and ratios are shown in the following table:

					Required								To Be Well
					For Capital				With				Capitalized Under
					Adequacy				Capital Conservation				Prompt Corrective
	Actual				Purposes				Buffer				Action Provisions
	Amount		Ratio		Amount		Ratio		Amount		Ratio		Amount		Ratio
	(Dollars in thousands)
As of September 30, 2016:
Total Capital
(to Risk Weighted Assets)-
BancFirst Corporation	$	708,421		15.06%	$	376,350		8.00%	$	405,752		8.625%	N/A		N/A
BancFirst		643,237		13.69%		375,916		8.00%		405,284		8.625%	$	469,895		10.00%
Common Equity Tier 1 Capital
(to Risk Weighted Assets)-
BancFirst Corporation	$	629,360		13.38%	$	211,697		4.50%	$	241,099		5.125%	N/A		N/A
BancFirst		575,176		12.24%		211,453		4.50%		240,821		5.125%	$	305,432		6.50%
Tier 1 Capital
(to Risk Weighted Assets)-
BancFirst Corporation	$	660,360		14.04%	$	282,262		6.00%	$	311,665		6.625%	N/A		N/A
BancFirst		595,176		12.67%		281,937		6.00%		311,305		6.625%	$	375,916		8.00%
Tier 1 Capital
(to Total Assets)-
BancFirst Corporation	$	660,360		9.89%	$	267,195		4.00%	N/A		N/A		N/A		N/A
BancFirst		595,176		8.92%		266,755		4.00%	N/A		N/A		$	333,444		5.00%

As of September 30, 2016, the most recent notification from the Federal Reserve Bank of Kansas City and the FDIC categorized BancFirst as “well capitalized” under the regulatory framework from prompt corrective action. The Company’s trust preferred securities have continued to be included in Tier 1 capital as the Company’s total assets do not exceed $15 billion. There are no conditions or events since the most recent notifications of BancFirst’s capital category that management believes would materially change its category under capital requirements existing as of the report date.

Basel III Capital Rules

Under the Basel III Capital Rules, in order to avoid limitations on capital distributions, including dividend payments and certain discretionary bonus payments to executive officers, a banking organization must hold a capital conservation buffer composed of CET1 capital above its minimum risk-based capital requirements. The implementation of the capital conservation buffer began on January 1, 2016 at the 0.625% level and will be phased in over a four-year period (increasing by that amount on each subsequent January 1, until it reaches 2.5% on January 1, 2019). Management believes that, as of September 30, 2016, the Company and BancFirst would meet all capital adequacy requirements under the Basel III Capital Rules on a fully phased-in basis as if such requirements were currently in effect.

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Net Income Per Common Share

9 Months Ended

Sep. 30, 2016

Earnings Per Share [Abstract]

Net Income Per Common Share

(8) NET INCOME PER COMMON SHARE

Basic and diluted net income per common share based on weighted-average shares outstanding are calculated as follows:

	Income (Numerator)		Shares (Denominator)		Per Share Amount
	(Dollars in thousands, except per share data)
Three Months Ended September 30, 2016
Basic
Income available to common stockholders	$	17,982		15,631,094	$	1.15
Dilutive effect of stock options		—		291,115
Diluted
Income available to common stockholders plus assumed    exercises of stock options	$	17,982		15,922,209	$	1.13
Three Months Ended September 30, 2015
Basic
Income available to common stockholders	$	15,630		15,581,593	$	1.01
Dilutive effect of stock options		—		324,531
Diluted
Income available to common stockholders plus assumed    exercises of stock options	$	15,630		15,906,124	$	0.98
Nine Months Ended September 30, 2016
Basic
Income available to common stockholders	$	52,054		15,571,990	$	3.34
Dilutive effect of stock options		—		290,790
Diluted
Income available to common stockholders plus assumed    exercises of stock options	$	52,054		15,862,780	$	3.28
Nine Months Ended September 30, 2015
Basic
Income available to common stockholders	$	50,442		15,542,027	$	3.25
Dilutive effect of stock options		—		329,964
Diluted
Income available to common stockholders plus assumed    exercises of stock options	$	50,442		15,871,991	$	3.18

The following table shows the number and average exercise price of options that were excluded from the computation of diluted net income per common share for each period because the options’ exercise prices were greater than the average market price of the common shares:

	Shares		Average ExercisePrice
Three Months Ended September 30, 2016		141,565	$	60.63
Three Months Ended September 30, 2015		145,261		60.51
Nine Months Ended September 30, 2016		183,314		59.74
Nine Months Ended September 30, 2015		165,927		58.33

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Fair Value Measurements

9 Months Ended

Sep. 30, 2016

Fair Value Disclosures [Abstract]

Fair Value Measurements

(9) FAIR VALUE MEASUREMENTS

Accounting standards define fair value as the price that would be received to sell an asset or the price paid to transfer a liability in the principal or most advantageous market available to the entity in an orderly transaction between market participants on the measurement date.

FASB ASC Topic 820 establishes a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs.  The fair value hierarchy is as follows:

• Level 1 Inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.

• Level 2 Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset and liability, either directly or indirectly, for substantially the full term of the financial instrument.

• Level 3 Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose values are determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. This category includes certain impaired loans, foreclosed assets, other real estate, goodwill and other intangible assets.

Financial Assets and Financial Liabilities Measured at Fair Value on a Recurring Basis

A description of the valuation methodologies and key inputs used to measure financial assets and financial liabilities at fair value on a recurring basis, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below. These valuation methodologies were applied to the following categories of the Company’s financial assets and financial liabilities.

Securities Available for Sale

Securities classified as available for sale are reported at fair value. U.S. Treasuries are valued using Level 1 inputs. Other securities available for sale including U.S. federal agencies, registered mortgage backed securities and state and political subdivisions are valued using prices from an independent pricing service utilizing Level 2 data. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the bond’s terms and conditions, among other things. The Company also invests in private label mortgage backed securities and equity securities classified as available for sale for which observable information is not readily available. These securities are reported at fair value utilizing Level 3 inputs. For these securities, management determines the fair value based on replacement cost, the income approach or information provided by outside consultants or lead investors.

The Company reviews the prices for Level 1 and Level 2 securities supplied by the independent pricing service for reasonableness and to ensure such prices are aligned with traditional pricing matrices. In general, the Company does not purchase investment portfolio securities that are esoteric or that have complicated structures. The Company’s portfolio primarily consists of traditional investments including U.S. Treasury obligations, federal agency mortgage pass-through securities, general obligation municipal bonds and a small amount of municipal revenue bonds. Pricing for such instruments is fairly generic and is easily obtained. For in-state bond issues that have relatively low issue sizes and liquidity, the Company utilizes the same parameters for pricing mentioned in the preceding paragraph adjusted for the specific issue. From time to time, the Company will validate, on a sample basis, prices supplied by the independent pricing service by comparison to prices obtained from third party sources.

Derivatives

Derivatives are reported at fair value utilizing Level 2 inputs.  The Company obtains dealer and market quotations to value its oil and gas swaps and options.  The Company utilizes dealer quotes and observable market data inputs to substantiate internal valuation models.

Loans Held For Sale

The Company originates mortgage loans to be sold.  At the time of origination, the acquiring bank has already been determined and the terms of the loan, including interest rate, have already been set by the acquiring bank, allowing the Company to originate the loan at fair value.  Mortgage loans are generally sold within 30 days of origination.  Loans held for sale are valued using Level 2 inputs.  Gains or losses recognized upon the sale of the loans are determined on a specific identification basis.

The following table summarizes financial assets and financial liabilities measured at fair value on a recurring basis as of the periods presented, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value:

	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total Fair Value
	(Dollars in thousands)
September 30, 2016
Securities available for sale:
U.S. Treasury	$	206,123	$	—	$	—	$	206,123
U.S. federal agencies		—		192,648		—		192,648
Mortgage-backed securities		—		5,469		14,816		20,285
States and political subdivisions		—		43,704		—		43,704
Other securities		—		—		6,424		6,424
Derivative assets		—		1,017		—		1,017
Derivative liabilities		—		665		—		665
Loans held for sale		—		9,685		—		9,685
December 31, 2015
Securities available for sale:
U.S. Treasury	$	329,696	$	—	$	—	$	329,696
U.S. federal agencies		—		131,896		—		131,896
Mortgage-backed securities		—		7,039		14,816		21,855
States and political subdivisions		—		50,920		—		50,920
Other securities		—		3,485		6,308		9,793
Derivative assets		—		1,946		—		1,946
Derivative liabilities		—		989		—		989
Loans held for sale		—		13,725		—		13,725

The changes in Level 3 assets measured at estimated fair value on a recurring basis during the periods presented were as follows:

	Nine Months Ended September 30,
	2016			2015
	(Dollars in thousands)
Balance at the beginning of the year	$	21,124		$	28,459
Purchases		763			609
Settlements		(7	)		(1,679	)
Sales		(426	)		(8,593	)
(Losses) gains included in earnings		(111	)		7,121
Total unrealized losses		(103	)		(4,029	)
Balance at the end of the period	$	21,240		$	21,888

The Company’s policy is to recognize transfers in and transfers out of Levels 1, 2 and 3 as of the end of the reporting period. During the nine months ended September 30, 2016 and 2015, the Company did not transfer any securities between levels in the fair value hierarchy.

Financial Assets and Financial Liabilities Measured at Fair Value on a Nonrecurring Basis

Certain financial assets and financial liabilities are measured at fair value on a nonrecurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment). These financial assets and financial liabilities are reported at fair value utilizing Level 3 inputs.

Impaired loans are reported at the fair value of the underlying collateral if repayment is dependent on liquidation of the collateral. In no case does the fair value of an impaired loan exceed the fair value of the underlying collateral. The impaired loans are adjusted to fair value through a specific allocation of the allowance for loan losses or a direct charge-down of the loan.

Foreclosed assets, upon initial recognition, are measured and adjusted to fair value through a charge-off to the allowance for possible loan losses based upon the fair value of the foreclosed asset.

Other real estate owned is revalued at fair value subsequent to initial recognition, with any losses recognized in net expense from other real estate owned.

The following table summarizes assets measured at fair value on a nonrecurring basis. The fair value represents end of period values, which approximate fair value measurements that occurred on various measurement dates throughout the period. The related losses represent the amounts recognized during the period regardless of whether the asset is still held at period end:

	Total Fair Value Level 3		Losses
	(Dollars in thousands)
As of and for the Year-to-date Period Ended September 30, 2016
Impaired loans (less specific allowance)	$	29,459	$	—
Foreclosed assets		1,117		2
Other real estate owned		3,034		146
As of and for the Year-to-date Period Ended December 31, 2015
Impaired loans (less specific allowance)	$	44,399	$	—
Foreclosed assets		1,097		—
Other real estate owned		4,604		128

Estimated Fair Value of Financial Instruments

The Company is required under current authoritative accounting guidance to disclose the estimated fair value of their financial instruments that are not recorded at fair value. For the Company, as for most financial institutions, substantially all of its assets and liabilities are considered financial instruments. A financial instrument is defined as cash, evidence of an ownership interest in an entity or a contract that creates a contractual obligation or right to deliver or receive cash or another financial instrument from a second entity. The following methods and assumptions were used to estimate the fair value of each class of financial instruments:

Cash and Cash Equivalents Include: Cash and Due from Banks, Federal Funds Sold and Interest-Bearing Deposits

The carrying amount of these short-term instruments is a reasonable estimate of fair value.

Securities Held for Investment

For securities held for investment, which are generally traded in secondary markets, fair values are based on quoted market prices or dealer quotes, if available. If a quoted market price is not available, fair value is estimated using quoted market prices for similar securities making adjustments for credit or liquidity if applicable.

Loans

For certain homogeneous categories of loans, such as some residential mortgages, fair values are estimated using the quoted market prices for securities backed by similar loans, adjusted for differences in loan characteristics. The fair values of other types of loans are estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities.

Deposits

The fair values of transaction and savings accounts are the amounts payable on demand at the reporting date. The fair values of fixed-maturity certificates of deposit are estimated using the rates currently offered for deposits of similar remaining maturities.

Short-term Borrowings

The amounts payable on these short-term instruments are reasonable estimates of fair value.

Junior Subordinated Debentures

The fair values of junior subordinated debentures are estimated using the rates that would be charged for junior subordinated debentures of similar remaining maturities.

Loan Commitments and Letters of Credit

The fair values of commitments are estimated using the fees currently charged to enter into similar agreements, taking into account the terms of the agreements. The fair values of letters of credit are based on fees currently charged for similar agreements.

The estimated fair values of the Company’s financial instruments that are reported at amortized cost in the Company’s consolidated balance sheets, segregated by the level of valuation inputs within the fair value hierarchy utilized to measure fair value, are as follows:

	September 30,				December 31,
	2016				2015
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
	(Dollars in thousands)
FINANCIAL ASSETS
Level 2 inputs:
Cash and cash equivalents	$	1,706,656	$	1,706,656	$	1,598,177	$	1,598,177
Securities held for investment		3,943		3,990		8,289		8,350
Level 3 inputs:
Securities held for investment		611		611		500		500
Loans, net of allowance for loan losses		4,259,766		4,325,916		4,190,382		4,222,153
FINANCIAL LIABILITIES
Level 2 inputs:
Deposits		6,024,949		6,085,613		5,973,538		6,028,012
Short-term borrowings		4,000		4,000		500		500
Junior subordinated debentures		31,959		34,757		31,959		33,793
OFF-BALANCE SHEET FINANCIAL INSTRUMENTS
Loan commitments				1,824				1,681
Letters of credit				428				464

Non-financial Assets and Non-financial Liabilities Measured at Fair Value

The Company has no non-financial assets or non-financial liabilities measured at fair value on a recurring basis. Certain non-financial assets and non-financial liabilities measured at fair value on a nonrecurring basis include intangible assets (excluding mortgage service rights, which are valued semi-annually) and other non-financial long-lived assets measured at fair value and adjusted for impairment. These items are evaluated at least annually for impairment. The overall levels of non-financial assets and non-financial liabilities measured at fair value on a nonrecurring basis were not considered to be significant to the Company at September 30, 2016 or December 31, 2015.

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Derivative Financial Instruments

9 Months Ended

Sep. 30, 2016

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

(10) DERIVATIVE FINANCIAL INSTRUMENTS

The Company enters into oil and gas swaps and options contracts to accommodate the business needs of its customers.  Upon the origination of an oil or gas swap or option contract with a customer, the Company simultaneously enters into an offsetting contract with a counterparty to mitigate the exposure to fluctuations in oil and gas prices.  These derivatives are not designated as hedged instruments and are recorded on the Company’s consolidated balance sheet at fair value.

The Company utilizes dealer quotations and observable market data inputs to substantiate internal valuation models.  The notional amounts and estimated fair values of oil and gas derivative positions outstanding are presented in the following table:

		September 30, 2016						December 31, 2015
Oil and Natural Gas Swaps and Options	Notional Units	Notional Amount			Estimated Fair Value			Notional Amount			Estimated Fair Value
		(Notional amounts and dollars in thousands)
Oil
Derivative assets	Barrels		61		$	190			86		$	604
Derivative liabilities	Barrels		(61	)		(131	)		(86	)		(378	)
Natural Gas
Derivative assets	MMBTUs		2,540			827			3,920			1,342
Derivative liabilities	MMBTUs		(2,540	)		(534	)		(3,920	)		(611	)
Total Fair Value	Included in
Derivative assets	Other assets					1,017						1,946
Derivative liabilities	Other liabilities					(665	)					(989	)

The following table is a summary of the Company’s recognized income related to the activity, which was included in other noninterest income:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2016		2015		2016		2015
	(Dollars in thousands)
Derivative income	$	3	$	78	$	14	$	270

The Company’s credit exposure on oil and gas swaps and options varies based on the current market prices of oil and natural gas.  Other than credit risk, changes in the fair value of customer positions will be offset by equal and opposite changes in the counterparty positions.  The net positive fair value of the contracts is the profit derived from the activity and is unaffected by market price movements. The Company’s share of total profit is approximately 35%.

Customer credit exposure is managed by strict position limits and is primarily offset by first liens on production while the remainder is offset by cash.  Counterparty credit exposure is managed by selecting highly rated counterparties (rated A- or better by Standard and Poor’s) and monitoring market information.

The following table is a summary of the Company’s net credit exposure relating to oil and gas swaps and options with bank counterparties:

	September 30, 2016		December 31, 2015
	(Dollars inthousands)
Credit exposure	$	—	$	37

Balance Sheet Offsetting

Derivatives may be eligible for offset in the consolidated balance sheet and/or subject to master netting arrangements. The Company’s derivative transactions with upstream financial institution counterparties and bank customers are generally executed under International Swaps and Derivative Association (“ISDA”) master agreements which include “right of set-off” provisions. In such cases there is generally a legally enforceable right to offset recognized amounts and there may be an intention to settle such amounts on a net basis. Nonetheless, the Company does not generally offset such financial instruments for financial reporting purposes.

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Segment Information

9 Months Ended

Sep. 30, 2016

Segment Reporting [Abstract]

Segment Information

(11) SEGMENT INFORMATION

The Company evaluates its performance with an internal profitability measurement system that measures the profitability of its business units on a pre-tax basis. The four principal business units are metropolitan banks, community banks, other financial services and executive, operations and support. Metropolitan and community banks offer traditional banking products such as commercial and retail lending and a full line of deposit accounts. Metropolitan banks consist of banking locations in the metropolitan Oklahoma City and Tulsa areas.  Community banks consist of banking locations in communities throughout Oklahoma. Other financial services are specialty product business units including guaranteed small business lending, residential mortgage lending, trust services, securities brokerage, electronic banking and insurance. The executive, operations and support groups represent executive management, operational support and corporate functions that are not allocated to the other business units.

The results of operations and selected financial information for the four business units are as follows:

	Metropolitan Banks		Community Banks		Other Financial Services		Executive, Operations & Support			Eliminations			Consolidated
	(Dollars in thousands)
Three Months Ended September 30, 2016
Net interest income (expense)	$	15,893	$	34,254	$	1,617	$	(333	)	$	—		$	51,431
Noninterest income		4,235		14,918		8,050		19,025			(18,301	)		27,927
Income before taxes		10,970		19,727		2,683		11,964			(18,130	)		27,214
Three Months Ended September 30, 2015
Net interest income (expense)	$	15,221	$	30,429	$	1,638	$	(412	)	$	—		$	46,876
Noninterest income		3,755		13,427		7,507		17,250			(16,615	)		25,324
Income before taxes		9,463		18,693		3,098		9,616			(16,446	)		24,424
Nine Months Ended September 30, 2016
Net interest income (expense)	$	47,435	$	101,222	$	4,624	$	(1,006	)	$	—		$	152,275
Noninterest income		12,121		42,922		22,175		55,501			(53,118	)		79,601
Income before taxes		30,558		59,152		8,228		33,711			(52,835	)		78,814
Nine Months Ended September 30, 2015
Net interest income (expense)	$	45,946	$	88,928	$	5,156	$	(1,313	)	$	—		$	138,717
Noninterest income		10,745		38,743		27,621		55,868			(53,642	)		79,335
Income before taxes		29,152		52,500		15,015		34,024			(53,372	)		77,319
Total Assets:
September 30, 2016	$	2,351,771	$	4,360,964	$	95,999	$	733,573		$	(758,770	)	$	6,783,537
December 31, 2015		2,277,870		4,379,205		128,697		624,428			(717,371	)		6,692,829

The financial information for each business unit is presented on the basis used internally by management to evaluate performance and allocate resources.  The Company utilizes a transfer pricing system to allocate the benefit or cost of funds provided or used by the various business units.  Certain services provided by the support group to other business units, such as item processing, are allocated at rates approximating the cost of providing the services.  Eliminations are adjustments to consolidate the business units and companies. Capital expenditures are generally charged to the business unit using the asset.

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Description of Business and Summary of Significant Accounting Policies (Policies)

9 Months Ended

Sep. 30, 2016

Accounting Policies [Abstract]

Basis of Presentation

Basis of Presentation

The accompanying unaudited interim consolidated financial statements include the accounts of BancFirst Corporation, Council Oak Partners, LLC, BancFirst Insurance Services, Inc. and BancFirst and its subsidiaries. The principal operating subsidiaries of BancFirst are Council Oak Investment Corporation, Council Oak Real Estate, Inc. and BancFirst Agency, Inc.  All significant intercompany accounts and transactions have been eliminated. Assets held in a fiduciary or agency capacity are not assets of the Company and, accordingly, are not included in the unaudited interim consolidated financial statements.

The accompanying unaudited interim consolidated financial statements and notes are presented in accordance with the instructions for Form 10-Q. The information contained in the financial statements and footnotes included in BancFirst Corporation’s Annual Report on Form 10-K for the year ended December 31, 2015, should be referred to in connection with these unaudited interim consolidated financial statements. Operating results for the interim periods disclosed herein are not necessarily indicative of the results that may be expected for a full year or any future period.

The unaudited interim consolidated financial statements contained herein reflect all adjustments which are, in the opinion of management, necessary to provide a fair statement of the financial position and results of operations of the Company for the interim periods presented. All such adjustments are of a normal and recurring nature. There have been no significant changes in the accounting policies of the Company since December 31, 2015, the date of the most recent annual report.

Reclassifications

Reclassifications

Certain items in prior financial statements have been reclassified to conform to the current presentation. Such reclassifications had no effect on previously reported cash flows, stockholders’ equity or comprehensive income.

Use of Estimates in the Preparation of Financial Statements

Use of Estimates in the Preparation of Financial Statements

The preparation of financial statements in conformity with accounting principles generally accepted in the United States inherently involves the use of estimates and assumptions that affect the amounts reported in the financial statements and the related disclosures. These estimates relate principally to the determination of the allowance for loan losses, income taxes, the fair value of financial instruments and the valuation of intangibles. Such estimates and assumptions may change over time and actual amounts realized may differ from those reported.

Recent Accounting Pronouncements

Recent Accounting Pronouncements

In August 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments.” ASU 2016-15 is intended to reduce the diversity in practice around how certain transactions are classified within the statement of cash flows. ASU 2016-15 will be effective on January 1, 2018. Early adoption is permitted with retrospective applications. The Company is currently evaluating the potential impact of ASU 2016-15 on its financial statements.

In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” ASU 2016-13 requires a financial asset measured at amortized cost basis to be presented at the net amount expected to be collected. The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. ASU 2016-13 requires enhanced disclosures related to the significant estimates and judgements used in estimating credit losses, as well as the credit quality and underwriting standards of an organization’s portfolio. In addition, ASU 2016-13 amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. ASU 2016-13 will be effective on January 1, 2020. The Company is currently evaluating the potential impact of ASU 2016-13 on its financial statements.

In March 2016, the FASB issued ASU No. 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.” Under ASU 2016-09 all excess tax benefits and tax deficiencies related to share-based payment awards should be recognized as income tax expense or benefit in the income statement during the period in which they occur. Previously, such amounts were recorded in the pool of excess tax benefits included in additional paid-in capital, if such pool was available. Because excess tax benefits are no longer recognized in additional paid-in capital, the assumed proceeds from applying the treasury stock method when computing earnings per share should exclude the amount of excess tax benefits that would have previously been recognized in additional paid-in capital. Additionally, excess tax benefits should be classified along with other income tax cash flows as an operating activity rather than a financing activity, as was previously the case. ASU 2016-09 also provides that an entity can make an entity-wide accounting policy election to either estimate the number of awards that are expected to vest (current GAAP) or account for forfeitures when they occur. ASU 2016-09 changes the threshold to qualify for equity classification (rather than as a liability) to permit withholding up to the maximum statutory tax rates (rather than the minimum as was previously the case) in the applicable jurisdictions. ASU 2016-09 will be effective on January 1, 2017 and is not expected to have a significant impact on the Company’s financial statements.

In February 2016, the FASB issued ASU No. 2016-02, “Leases - (Topic 842).” ASU 2016-02 requires that lessees recognize on the balance sheet the assets and liabilities for the rights and obligations created by leases. The amendments are effective for annual periods, and interim reporting periods within those annual periods, beginning after December 15, 2018. Early adoption is permitted. Adoption of ASU 2016-02 is not expected to have a significant impact on the Company’s financial statements.

In January 2016, the FASB issued ASU No. 2016-01, “Financial Instruments - Overall (Subtopic 825-10).” ASU 2016-01 require all equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) to be measured at fair value with changes in the fair value recognized through net income. In addition, the amendment will require an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. The amendments are effective for annual periods, and interim reporting periods within those annual periods, beginning after December 15, 2017. Early adoption is not permitted. Adoption of ASU 2016-01 is not expected to have a significant impact on the Company’s financial statements.

In August 2014, the FASB issued ASU No. 2014-15, “Presentation of Financial Statements – Going Concern (Topic 205-40).”  ASU 2014-15 provides guidance on management’s responsibility in evaluating whether there is substantial doubt about the Company’s ability to continue as a going concern and related footnote disclosures. For each reporting period, management will be required to evaluate whether there are conditions or events that raise substantial doubt about the Company’s ability to continue as a going concern within one year from the date the financial statements are issued.  The amendments are effective for annual periods, and interim reporting periods within those annual periods, beginning after December 15, 2016. Early adoption is permitted. Adoption of ASU 2014-15 is not expected to have a significant impact on the Company’s financial statements.

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Securities (Tables)

9 Months Ended

Sep. 30, 2016

Investments Debt And Equity Securities [Abstract]

Summary of Securities Held for Investment and Securities Available for Sale

The following table summarizes securities held for investment and securities available for sale:

	September 30, 2016		December 31, 2015
	(Dollars in thousands)
Held for investment, at cost (fair value: $4,601 and $8,850, respectively)	$	4,554	$	8,789
Available for sale, at fair value		469,184		544,160
Total	$	473,738	$	552,949

Summary of Amortized Cost and Estimated Fair Values of Securities Held for Investment

The following table summarizes the amortized cost and estimated fair values of securities held for investment:

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
September 30, 2016	(Dollars in thousands)
Mortgage backed securities (1)	$	273	$	21	$	—		$	294
States and political subdivisions		3,781		28		(2	)		3,807
Other securities		500		—		—			500
Total	$	4,554	$	49	$	(2	)	$	4,601
December 31, 2015
Mortgage backed securities (1)	$	347	$	25	$	—		$	372
States and political subdivisions		7,942		36		—			7,978
Other securities		500		—		—			500
Total	$	8,789	$	61	$	—		$	8,850

Summary of Amortized Cost and Estimated Fair Values of Securities Available for Sale

The following table summarizes the amortized cost and estimated fair values of securities available for sale:

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
September 30, 2016	(Dollars in thousands)
U.S. treasuries	$	204,350	$	1,773	$	—		$	206,123
U.S. federal agencies		192,271		494		(117	)		192,648
Mortgage backed securities (1)		20,467		379		(561	)		20,285
States and political subdivisions		42,412		1,354		(62	)		43,704
Other securities (2)		6,447		125		(148	)		6,424
Total	$	465,947	$	4,125	$	(888	)	$	469,184
December 31, 2015
U.S. treasuries	$	328,965	$	776	$	(45	)	$	329,696
U.S. federal agencies		131,522		527		(153	)		131,896
Mortgage backed securities (1)		21,973		425		(543	)		21,855
States and political subdivisions		49,521		1,447		(48	)		50,920
Other securities (2)		9,689		249		(145	)		9,793
Total	$	541,670	$	3,424	$	(934	)	$	544,160

(1) Primarily consists of FHLMC, FNMA, GNMA and mortgage backed securities through U.S. agencies.

(2) Primarily consists of equity securities.

Maturity of Securities

The maturities of securities held for investment and available for sale are summarized in the following table using contractual maturities. Actual maturities may differ from contractual maturities due to obligations that are called or prepaid. For purposes of the maturity table, mortgage-backed securities, which are not due at a single maturity date, have been presented at their contractual maturity.

	September 30, 2016				December 31, 2015
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
	(Dollars in thousands)
Held for Investment
Contractual maturity of debt securities:
Within one year	$	1,637	$	1,646	$	5,168	$	5,174
After one year but within five years		2,162		2,179		2,800		2,829
After five years but within ten years		736		756		795		319
After ten years		19		20		26		528
Total	$	4,554	$	4,601	$	8,789	$	8,850
Available for Sale
Contractual maturity of debt securities:
Within one year	$	205,834	$	206,093	$	272,820	$	272,779
After one year but within five years		178,939		181,187		178,617		180,145
After five years but within ten years		6,608		7,088		8,483		9,075
After ten years		68,119		68,392		75,522		75,853
Total debt securities		459,500		462,760		535,442		537,852
Other securities		6,447		6,424		6,228		6,308
Total	$	465,947	$	469,184	$	541,670	$	544,160

Company's Book Value of Pledged Securities

The following table is a summary of the Company’s book value of securities that were pledged as collateral for public funds on deposit, repurchase agreements and for other purposes as required or permitted by law:

	September 30, 2016		December 31, 2015
	(Dollarsin thousands)
Book value of pledged securities	$	419,481	$	493,540

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Loans and Allowance for Loan Losses (Tables)

9 Months Ended

Sep. 30, 2016

Receivables [Abstract]

Schedule of Loans Outstanding by Category

The following is a schedule of loans outstanding by category:

	September 30, 2016					December 31, 2015
	Amount		Percent			Amount		Percent
	(Dollars in thousands)
Commercial and financial:
Commercial and industrial	$	792,335		18.39	%	$	795,803		18.80	%
Oil & gas production and equipment		75,627		1.76			87,304		2.06
Agriculture		136,150		3.16			150,620		3.56
State and political subdivisions:
Taxable		39,160		0.91			17,605		0.42
Tax-exempt		39,930		0.93			33,575		0.79
Real estate:
Construction		402,901		9.35			403,664		9.54
Farmland		191,218		4.44			184,707		4.36
One to four family residences		845,360		19.62			821,251		19.41
Multifamily residential properties		59,967		1.39			65,477		1.55
Commercial		1,410,730		32.75			1,356,430		32.05
Consumer		277,671		6.45			283,636		6.70
Other (not classified above)		36,778		0.85			31,976		0.76
Total loans	$	4,307,827		100.00	%	$	4,232,048		100.00	%

Summary of Nonperforming and Restructured Assets

The following is a summary of nonperforming and restructured assets:

	September 30,		December 31,
	2016		2015
	(Dollars in thousands)
Past due 90 days or more and still accruing	$	1,906	$	1,841
Nonaccrual		31,014		30,096
Restructured		1,842		15,143
Total nonperforming and restructured loans		34,762		47,080
Other real estate owned and repossessed assets		4,339		8,214
Total nonperforming and restructured assets	$	39,101	$	55,294

Summary of Amounts Included in Nonaccrual Loans Segregated by Class of Loans

Loans are segregated into classes based upon the nature of the collateral and the borrower. These classes are used to estimate the credit risk component in the allowance for loan losses. The following table is a summary of amounts included in nonaccrual loans, segregated by class of loans. Residential real estate refers to one-to-four family real estate.

	September 30,		December 31,
	2016		2015
	(Dollars in thousands)
Real estate:
Non-residential real estate owner occupied	$	274	$	261
Non-residential real estate other		5,910		3,957
Residential real estate permanent mortgage		829		656
Residential real estate all other		4,694		1,833
Commercial and financial:
Non-consumer non-real estate		4,849		10,159
Consumer non-real estate		472		312
Other loans		9,008		9,381
Acquired loans		4,978		3,537
Total	$	31,014	$	30,096

Age Analysis of Past Due Loans Segregated by Class of Loans

The following table presents an age analysis of past due loans, segregated by class of loans:

	Age Analysis of Past Due Loans
	30-59 Days Past Due		60-89 Days Past Due		90 Days and Greater		Total Past Due Loans		Current Loans		Total Loans		Accruing Loans 90 Days or More Past Due
	(Dollars in thousands)
As of September 30, 2016
Real estate:
Non-residential real estate owner occupied	$	3,899	$	704	$	506	$	5,109	$	521,548	$	526,657	$	269
Non-residential real estate other		504		86		1,995		2,585		1,126,466		1,129,051		91
Residential real estate permanent mortgage		2,278		895		1,029		4,202		327,619		331,821		468
Residential real estate all other		1,952		526		1,459		3,937		730,581		734,518		469
Commercial and financial:
Non-consumer non-real estate		5,203		1,522		465		7,190		989,351		996,541		196
Consumer non-real estate		2,020		758		456		3,234		278,381		281,615		270
Other loans		1,208		235		8,199		9,642		138,276		147,918		—
Acquired loans		473		1,023		460		1,956		157,750		159,706		143
Total	$	17,537	$	5,749	$	14,569	$	37,855	$	4,269,972	$	4,307,827	$	1,906
As of December 31, 2015
Real estate:
Non-residential real estate owner occupied	$	441	$	179	$	183	$	803	$	502,094	$	502,897	$	—
Non-residential real estate other		1,149		108		568		1,825		1,108,935		1,110,760		521
Residential real estate permanent mortgage		2,840		636		648		4,124		328,477		332,601		493
Residential real estate all other		2,842		609		824		4,275		672,414		676,689		193
Commercial and financial:
Non-consumer non-real estate		2,278		161		187		2,626		982,136		984,762		152
Consumer non-real estate		2,237		772		349		3,358		265,511		268,869		278
Other loans		3,565		295		1,761		5,621		156,995		162,616		132
Acquired loans		1,052		71		918		2,041		190,813		192,854		72
Total	$	16,404	$	2,831	$	5,438	$	24,673	$	4,207,375	$	4,232,048	$	1,841

Impaired Loans Segregated by Class of Loans

The following table presents impaired loans, segregated by class of loans. No material amount of interest income was recognized on impaired loans subsequent to their classification as impaired.

	Impaired Loans
	Unpaid Principal Balance		Recorded Investment with Allowance		Related Allowance		Average Recorded Investment
	(Dollars in thousands)
As of September 30, 2016
Real estate:
Non-residential real estate owner occupied	$	728	$	645	$	48	$	531
Non-residential real estate other		8,049		6,001		335		5,653
Residential real estate permanent mortgage		1,545		1,353		108		1,019
Residential real estate all other		5,704		5,465		1,428		6,007
Commercial and financial:
Non-consumer non-real estate		11,644		6,255		1,470		7,347
Consumer non-real estate		898		863		235		909
Other loans		10,440		9,008		1,851		9,191
Acquired loans		7,265		5,344		—		4,015
Total	$	46,273	$	34,934	$	5,475	$	34,672
As of December 31, 2015
Real estate:
Non-residential real estate owner occupied	$	507	$	383	$	14	$	446
Non-residential real estate other		21,068		19,052		357		19,655
Residential real estate permanent mortgage		1,401		1,209		81		1,125
Residential real estate all other		2,498		2,235		242		1,958
Commercial and financial:
Non-consumer non-real estate		13,897		10,312		2,062		11,786
Consumer non-real estate		738		715		181		652
Other loans		10,722		9,513		331		10,335
Acquired loans		6,295		4,248		—		4,564
Total	$	57,126	$	47,667	$	3,268	$	50,521

Internal Loan Grading by Class of Loans

The following table presents internal loan grading by class of loans:

	Internal Loan Grading
	Grade
		1		2		3		4		5	Total
	(Dollars in thousands)
As of September 30, 2016
Real estate:
Non-residential real estate owner occupied	$	432,000	$	78,484	$	15,602	$	571	$	—	$	526,657
Non-residential real estate other		941,523		166,984		14,607		5,937		—		1,129,051
Residential real estate permanent mortgage		291,611		31,830		6,918		1,462		—		331,821
Residential real estate all other		604,144		113,822		11,347		5,205		—		734,518
Commercial and financial:
Non-consumer non-real estate		807,385		162,879		21,309		4,968		—		996,541
Consumer non-real estate		261,859		16,461		2,499		796		—		281,615
Other loans		138,497		5,464		1,505		2,452		—		147,918
Acquired loans		102,002		32,236		20,145		5,323		—		159,706
Total	$	3,579,021	$	608,160	$	93,932	$	26,714		—	$	4,307,827
As of December 31, 2015
Real estate:
Non-residential real estate owner occupied	$	417,529	$	76,749	$	8,304	$	315	$	—	$	502,897
Non-residential real estate other		945,993		156,159		4,580		4,028		—		1,110,760
Residential real estate permanent mortgage		295,265		29,793		6,315		1,228		—		332,601
Residential real estate all other		554,007		111,879		9,109		1,694		—		676,689
Commercial and financial:
Non-consumer non-real estate		821,394		140,384		12,687		10,297		—		984,762
Consumer non-real estate		251,994		14,433		1,779		662		1		268,869
Other loans		153,416		5,851		872		2,477		—		162,616
Acquired loans		165,305		12,566		11,049		3,858		76		192,854
Total	$	3,604,903	$	547,814	$	54,695	$	24,559	$	77	$	4,232,048

Activity in ALL by Class of Loans

The following table details activity in the ALL by class of loans for the period presented. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories.

	ALL
	Balance at beginning of period		Charge- offs			Recoveries		Net charge-offs			Provisions charged to operations			Balance at end of period
	(Dollars in thousands)
Three Months Ended September 30, 2016
Real estate:
Non-residential real estate owner occupied	$	4,896	$	(1	)	$	—	$	(1	)	$	214		$	5,109
Non-residential real estate other		10,302		(5	)		1		(4	)		285			10,583
Residential real estate permanent mortgage		3,203		(58	)		10		(48	)		52			3,207
Residential real estate all other		8,293		(10	)		8		(2	)		212			8,503
Commercial and financial:
Non-consumer non-real estate		13,441		(1,053	)		31		(1,022	)		(385	)		12,034
Consumer non-real estate		2,749		(374	)		61		(313	)		443			2,879
Other loans		3,377		(18	)		2		(16	)		812			4,173
Acquired loans		305		(41	)		2		(39	)		1,307			1,573
Total	$	46,566	$	(1,560	)	$	115	$	(1,445	)	$	2,940		$	48,061
Nine Months Ended September 30, 2016
Real estate:
Non-residential real estate owner occupied	$	4,661	$	(11	)	$	—	$	(11	)	$	459		$	5,109
Non-residential real estate other		9,921		(9	)		3		(6	)		668			10,583
Residential real estate permanent mortgage		3,148		(157	)		48		(109	)		168			3,207
Residential real estate all other		6,725		(147	)		19		(128	)		1,906			8,503
Commercial and financial:
Non-consumer non-real estate		11,754		(2,358	)		77		(2,281	)		2,561			12,034
Consumer non-real estate		2,642		(729	)		137		(592	)		829			2,879
Other loans		2,648		(300	)		15		(285	)		1,810			4,173
Acquired loans		167		(58	)		18		(40	)		1,446			1,573
Total	$	41,666	$	(3,769	)	$	317	$	(3,452	)	$	9,847		$	48,061

	ALL
	Balance at beginning of period		Charge- offs			Recoveries		Net charge-offs			Provisions charged to operations			Balance at end of period
	(Dollars in thousands)
Three Months Ended September 30, 2015
Real estate:
Non-residential real estate owner occupied	$	4,503	$	—		$	—	$	—		$	36		$	4,539
Non-residential real estate other		9,880		(708	)		1		(707	)		814			9,987
Residential real estate permanent mortgage		3,110		(28	)		15		(13	)		(26	)		3,071
Residential real estate all other		6,485		(48	)		4		(44	)		168			6,609
Commercial and financial:
Non-consumer non-real estate		13,713		(2,180	)		38		(2,142	)		86			11,657
Consumer non-real estate		2,499		(152	)		35		(117	)		160			2,542
Other loans		2,431		(20	)		6		(14	)		134			2,551
Acquired loans		—		(38	)		—		(38	)		52			14
Total	$	42,621	$	(3,174	)	$	99	$	(3,075	)	$	1,424		$	40,970
Nine Months Ended September 30, 2015
Real estate:
Non-residential real estate owner occupied	$	4,406	$	(1	)	$	1	$	—		$	133		$	4,539
Non-residential real estate other		9,616		(708	)		2		(706	)		1,077			9,987
Residential real estate permanent mortgage		2,948		(124	)		29		(95	)		218			3,071
Residential real estate all other		6,269		(123	)		13		(110	)		450			6,609
Commercial and financial:
Non-consumer non-real estate		12,771		(2,349	)		76		(2,273	)		1,159			11,657
Consumer non-real estate		2,404		(382	)		90		(292	)		430			2,542
Other loans		2,359		(283	)		15		(268	)		460			2,551
Acquired loans		116		(232	)		28		(204	)		102			14
Total	$	40,889	$	(4,202	)	$	254	$	(3,948	)	$	4,029		$	40,970

Allowance for Loan Losses Outstanding by Impairment Methodology

The following table details the amount of ALL by class of loans for the period presented, detailed on the basis of the impairment methodology used by the Company.

	ALL
	September 30, 2016				December 31, 2015
	Individually evaluated for impairment		Collectively evaluated for impairment		Individually evaluated for impairment		Collectively evaluated for impairment
	(Dollars in thousands)
Real estate:
Non-residential real estate owner occupied.	$	633	$	4,476	$	323	$	4,338
Non-residential real estate other		880		9,703		323		9,598
Residential real estate permanent mortgage		460		2,747		399		2,749
Residential real estate all other		2,190		6,313		839		5,886
Commercial and financial:
Non-consumer non-real estate		3,445		8,589		3,365		8,389
Consumer non-real estate		580		2,299		445		2,197
Other loans		1,812		2,361		291		2,357
Acquired loans		—		1,573		—		167
Total	$	10,000	$	38,061	$	5,985	$	35,681

Loans Outstanding by Impairment Methodology

The following table details the loans outstanding by class of loans for the period presented, on the basis of the impairment methodology used by the Company.

	Loans
	September 30, 2016						December 31, 2015
	Individually evaluated for impairment		Collectively evaluated for impairment		Loans acquired with deteriorated credit quality		Individually evaluated for impairment		Collectively evaluated for impairment		Loans acquired with deteriorated credit quality
	(Dollars in thousands)
Real estate:
Non-residential real estate owner occupied	$	16,173	$	510,484	$	—	$	8,619	$	494,278	$	—
Non-residential real estate other		20,544		1,108,507		—		8,608		1,102,152		—
Residential real estate permanent mortgage		8,380		323,441		—		7,543		325,058		—
Residential real estate all other		16,552		717,966		—		10,803		665,886		—
Commercial and financial:
Non-consumer non-real estate		26,278		970,263		—		22,983		961,779		—
Consumer non-real estate		3,212		278,403		—		2,416		266,453		—
Other loans		2,219		145,699		—		2,323		160,293		—
Acquired loans		—		134,238		25,468		—		177,871		14,983
Total	$	93,358	$	4,189,001	$	25,468	$	63,295	$	4,153,770	$	14,983

Transfers from Loans to Other Real Estate Owned and Repossessed Assets

Transfers from loans to other real estate owned and repossessed assets during the periods presented, are summarized as follows:

	Nine Months Ended September 30,
	2016		2015
	(Dollars in thousands)
Other real estate owned	$	2,453	$	3,155
Repossessed assets		1,117		794
Total	$	3,570	$	3,949

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Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2016

Goodwill And Intangible Assets Disclosure [Abstract]

Summary of Intangible Assets

The following is a summary of intangible assets:

	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
	(Dollars in thousands)
As of September 30, 2016
Core deposit intangibles	$	17,447	$	(6,151	)	$	11,296
Customer relationship intangibles		5,699		(3,331	)		2,368
Mortgage servicing intangibles		486		(252	)		234
Total	$	23,632	$	(9,734	)	$	13,898
As of December 31, 2015
Core deposit intangibles	$	20,333	$	(7,586	)	$	12,747
Customer relationship intangibles		5,699		(3,061	)		2,638
Mortgage servicing intangibles		538		(228	)		310
Total	$	26,570	$	(10,875	)	$	15,695

Summary of Goodwill by Business Segment

The following is a summary of goodwill by business segment:

					Other		Executive,
	Metropolitan		Community		Financial		Operations
	Banks		Banks		Services		& Support		Consolidated
	(Dollars in thousands)
Nine months ended September 30, 2016
Balance at beginning and end of period	$	8,078	$	40,050	$	5,464	$	450	$	54,042

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Stock-Based Compensation (Tables)

9 Months Ended

Sep. 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)
Nine Months Ended September 30, 2016
Outstanding at December 31, 2015		1,018,149		$	40.69
Options granted		30,000			58.08
Options exercised		(195,174	)		29.38
Options canceled, forfeited, or expired		(30,000	)		55.88
Outstanding at September 30, 2016		822,975			43.46	9.35 Yrs	$	23,910
Exercisable at September 30, 2016		370,350			36.00	6.45 Yrs	$	13,521

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,
	2016		2015		2016		2015
	(Dollars in thousands except per share data)
Weighted average grant-date fair value per share of options granted	$	13.99	$	11.89	$	11.92	$	11.55
Total intrinsic value of options exercised		5,063		1,129		6,733		3,258
Cash received from options exercised		3,859		779		5,735		2,132
Tax benefit realized from options exercised		1,958		437		2,604		1,260

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,
	2016		2015		2016		2015
	(Dollars in thousands)
Stock-based compensation expense	$	365	$	489	$	1,266	$	1,243
Tax benefit		142		189		490		481
Stock-based compensation expense, net of tax	$	223	$	300	$	776	$	762

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:

	September 30, 2016
	(Dollars in thousands)
Unearned stock-based compensation expense	$	3,049

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,
	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 21.78%	18.23 to 19.65%
Expected term	10 Yrs	10 Yrs

Summary of Accumulated Stock Units

A summary of the accumulated stock units is as follows:

	September 30,		December 31,
	2016		2015
Accumulated stock units		68,969		66,376
Average price	$	41.12	$	39.64

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Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2016

Equity [Abstract]

Summary of Shares Repurchased Under Stock Purchase Program

The following table is a summary of the shares under the program. All share repurchased in 2016 were purchased in the first three months of the year:

	Nine Months Ended September 30,
	2016		2015
Number of shares repurchased		100,000		—
Average price of shares repurchased	$	55.23		—
Shares remaining to be repurchased		150,000		194,723

Required Capital Amounts and Company's Respective Ratios

The actual and required capital amounts and ratios are shown in the following table:

					Required								To Be Well
					For Capital				With				Capitalized Under
					Adequacy				Capital Conservation				Prompt Corrective
	Actual				Purposes				Buffer				Action Provisions
	Amount		Ratio		Amount		Ratio		Amount		Ratio		Amount		Ratio
	(Dollars in thousands)
As of September 30, 2016:
Total Capital
(to Risk Weighted Assets)-
BancFirst Corporation	$	708,421		15.06%	$	376,350		8.00%	$	405,752		8.625%	N/A		N/A
BancFirst		643,237		13.69%		375,916		8.00%		405,284		8.625%	$	469,895		10.00%
Common Equity Tier 1 Capital
(to Risk Weighted Assets)-
BancFirst Corporation	$	629,360		13.38%	$	211,697		4.50%	$	241,099		5.125%	N/A		N/A
BancFirst		575,176		12.24%		211,453		4.50%		240,821		5.125%	$	305,432		6.50%
Tier 1 Capital
(to Risk Weighted Assets)-
BancFirst Corporation	$	660,360		14.04%	$	282,262		6.00%	$	311,665		6.625%	N/A		N/A
BancFirst		595,176		12.67%		281,937		6.00%		311,305		6.625%	$	375,916		8.00%
Tier 1 Capital
(to Total Assets)-
BancFirst Corporation	$	660,360		9.89%	$	267,195		4.00%	N/A		N/A		N/A		N/A
BancFirst		595,176		8.92%		266,755		4.00%	N/A		N/A		$	333,444		5.00%

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Net Income Per Common Share (Tables)

9 Months Ended

Sep. 30, 2016

Earnings Per Share [Abstract]

Basic and Diluted Net Income Per Common Share Based on Weighted-average Shares Outstanding

Basic and diluted net income per common share based on weighted-average shares outstanding are calculated as follows:

	Income (Numerator)		Shares (Denominator)		Per Share Amount
	(Dollars in thousands, except per share data)
Three Months Ended September 30, 2016
Basic
Income available to common stockholders	$	17,982		15,631,094	$	1.15
Dilutive effect of stock options		—		291,115
Diluted
Income available to common stockholders plus assumed    exercises of stock options	$	17,982		15,922,209	$	1.13
Three Months Ended September 30, 2015
Basic
Income available to common stockholders	$	15,630		15,581,593	$	1.01
Dilutive effect of stock options		—		324,531
Diluted
Income available to common stockholders plus assumed    exercises of stock options	$	15,630		15,906,124	$	0.98
Nine Months Ended September 30, 2016
Basic
Income available to common stockholders	$	52,054		15,571,990	$	3.34
Dilutive effect of stock options		—		290,790
Diluted
Income available to common stockholders plus assumed    exercises of stock options	$	52,054		15,862,780	$	3.28
Nine Months Ended September 30, 2015
Basic
Income available to common stockholders	$	50,442		15,542,027	$	3.25
Dilutive effect of stock options		—		329,964
Diluted
Income available to common stockholders plus assumed    exercises of stock options	$	50,442		15,871,991	$	3.18

Average Exercise Price of Options Excluded from Computation of Diluted Net Income Per Common Share

The following table shows the number and average exercise price of options that were excluded from the computation of diluted net income per common share for each period because the options’ exercise prices were greater than the average market price of the common shares:

	Shares		Average ExercisePrice
Three Months Ended September 30, 2016		141,565	$	60.63
Three Months Ended September 30, 2015		145,261		60.51
Nine Months Ended September 30, 2016		183,314		59.74
Nine Months Ended September 30, 2015		165,927		58.33

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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2016

Fair Value Disclosures [Abstract]

Fair Value of Financial Assets and Liabilities Measured on Recurring Basis

The following table summarizes financial assets and financial liabilities measured at fair value on a recurring basis as of the periods presented, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value:

	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total Fair Value
	(Dollars in thousands)
September 30, 2016
Securities available for sale:
U.S. Treasury	$	206,123	$	—	$	—	$	206,123
U.S. federal agencies		—		192,648		—		192,648
Mortgage-backed securities		—		5,469		14,816		20,285
States and political subdivisions		—		43,704		—		43,704
Other securities		—		—		6,424		6,424
Derivative assets		—		1,017		—		1,017
Derivative liabilities		—		665		—		665
Loans held for sale		—		9,685		—		9,685
December 31, 2015
Securities available for sale:
U.S. Treasury	$	329,696	$	—	$	—	$	329,696
U.S. federal agencies		—		131,896		—		131,896
Mortgage-backed securities		—		7,039		14,816		21,855
States and political subdivisions		—		50,920		—		50,920
Other securities		—		3,485		6,308		9,793
Derivative assets		—		1,946		—		1,946
Derivative liabilities		—		989		—		989
Loans held for sale		—		13,725		—		13,725

Changes in Level 3 Assets Measured at Estimated Fair Value on Recurring Basis

The changes in Level 3 assets measured at estimated fair value on a recurring basis during the periods presented were as follows:

	Nine Months Ended September 30,
	2016			2015
	(Dollars in thousands)
Balance at the beginning of the year	$	21,124		$	28,459
Purchases		763			609
Settlements		(7	)		(1,679	)
Sales		(426	)		(8,593	)
(Losses) gains included in earnings		(111	)		7,121
Total unrealized losses		(103	)		(4,029	)
Balance at the end of the period	$	21,240		$	21,888

Assets Measured at Fair Value on Nonrecurring Basis

The following table summarizes assets measured at fair value on a nonrecurring basis. The fair value represents end of period values, which approximate fair value measurements that occurred on various measurement dates throughout the period. The related losses represent the amounts recognized during the period regardless of whether the asset is still held at period end:

	Total Fair Value Level 3		Losses
	(Dollars in thousands)
As of and for the Year-to-date Period Ended September 30, 2016
Impaired loans (less specific allowance)	$	29,459	$	—
Foreclosed assets		1,117		2
Other real estate owned		3,034		146
As of and for the Year-to-date Period Ended December 31, 2015
Impaired loans (less specific allowance)	$	44,399	$	—
Foreclosed assets		1,097		—
Other real estate owned		4,604		128

Estimated Fair Values of Financial Instruments

The estimated fair values of the Company’s financial instruments that are reported at amortized cost in the Company’s consolidated balance sheets, segregated by the level of valuation inputs within the fair value hierarchy utilized to measure fair value, are as follows:

	September 30,				December 31,
	2016				2015
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
	(Dollars in thousands)
FINANCIAL ASSETS
Level 2 inputs:
Cash and cash equivalents	$	1,706,656	$	1,706,656	$	1,598,177	$	1,598,177
Securities held for investment		3,943		3,990		8,289		8,350
Level 3 inputs:
Securities held for investment		611		611		500		500
Loans, net of allowance for loan losses		4,259,766		4,325,916		4,190,382		4,222,153
FINANCIAL LIABILITIES
Level 2 inputs:
Deposits		6,024,949		6,085,613		5,973,538		6,028,012
Short-term borrowings		4,000		4,000		500		500
Junior subordinated debentures		31,959		34,757		31,959		33,793
OFF-BALANCE SHEET FINANCIAL INSTRUMENTS
Loan commitments				1,824				1,681
Letters of credit				428				464

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Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2016

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Notional Amounts and Estimated Fair Values of Outstanding Derivative Positions

The Company utilizes dealer quotations and observable market data inputs to substantiate internal valuation models.  The notional amounts and estimated fair values of oil and gas derivative positions outstanding are presented in the following table:

		September 30, 2016						December 31, 2015
Oil and Natural Gas Swaps and Options	Notional Units	Notional Amount			Estimated Fair Value			Notional Amount			Estimated Fair Value
		(Notional amounts and dollars in thousands)
Oil
Derivative assets	Barrels		61		$	190			86		$	604
Derivative liabilities	Barrels		(61	)		(131	)		(86	)		(378	)
Natural Gas
Derivative assets	MMBTUs		2,540			827			3,920			1,342
Derivative liabilities	MMBTUs		(2,540	)		(534	)		(3,920	)		(611	)
Total Fair Value	Included in
Derivative assets	Other assets					1,017						1,946
Derivative liabilities	Other liabilities					(665	)					(989	)

Recognized Derivative Income Included in Other Noninterest Income

The following table is a summary of the Company’s recognized income related to the activity, which was included in other noninterest income:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2016		2015		2016		2015
	(Dollars in thousands)
Derivative income	$	3	$	78	$	14	$	270

Summary of Company's Net Credit Exposure Relating to Oil and Gas Swaps and Options with Bank Counterparties

The following table is a summary of the Company’s net credit exposure relating to oil and gas swaps and options with bank counterparties:

	September 30, 2016		December 31, 2015
	(Dollars inthousands)
Credit exposure	$	—	$	37

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Segment Information (Tables)

9 Months Ended

Sep. 30, 2016

Segment Reporting [Abstract]

Results of Operations and Selected Financial Information

The results of operations and selected financial information for the four business units are as follows:

	Metropolitan Banks		Community Banks		Other Financial Services		Executive, Operations & Support			Eliminations			Consolidated
	(Dollars in thousands)
Three Months Ended September 30, 2016
Net interest income (expense)	$	15,893	$	34,254	$	1,617	$	(333	)	$	—		$	51,431
Noninterest income		4,235		14,918		8,050		19,025			(18,301	)		27,927
Income before taxes		10,970		19,727		2,683		11,964			(18,130	)		27,214
Three Months Ended September 30, 2015
Net interest income (expense)	$	15,221	$	30,429	$	1,638	$	(412	)	$	—		$	46,876
Noninterest income		3,755		13,427		7,507		17,250			(16,615	)		25,324
Income before taxes		9,463		18,693		3,098		9,616			(16,446	)		24,424
Nine Months Ended September 30, 2016
Net interest income (expense)	$	47,435	$	101,222	$	4,624	$	(1,006	)	$	—		$	152,275
Noninterest income		12,121		42,922		22,175		55,501			(53,118	)		79,601
Income before taxes		30,558		59,152		8,228		33,711			(52,835	)		78,814
Nine Months Ended September 30, 2015
Net interest income (expense)	$	45,946	$	88,928	$	5,156	$	(1,313	)	$	—		$	138,717
Noninterest income		10,745		38,743		27,621		55,868			(53,642	)		79,335
Income before taxes		29,152		52,500		15,015		34,024			(53,372	)		77,319
Total Assets:
September 30, 2016	$	2,351,771	$	4,360,964	$	95,999	$	733,573		$	(758,770	)	$	6,783,537
December 31, 2015		2,277,870		4,379,205		128,697		624,428			(717,371	)		6,692,829

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Recent Developments Including Mergers and Acquisitions - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Sep. 30, 2016	Dec. 31, 2015	Oct. 08, 2015
Business Combination Separately Recognized Transactions [Line Items]
Goodwill		$ 54,042	$ 54,042
Gains on sale of other real estate owned	$ 1,200
Bank of Commerce [Member]
Business Combination Separately Recognized Transactions [Line Items]
Total assets acquired				$ 196,000
Loans				147,000
Deposits				175,000
Equity capital				$ 22,000
Percentage of voting interests acquired				100.00%
Intangibles assets, net				$ 7,100
Goodwill				$ 9,400

XML

Securities - Summary of Securities Held for Investment and Securities Available for Sale (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Marketable Securities [Abstract]
Held for investment, at cost (fair value: $4,601 and $8,850, respectively)	$ 4,554	$ 8,789
Available for sale, at fair value	469,184	544,160
Total	$ 473,738	$ 552,949

XML

Securities - Summary of Securities Held for Investment and Securities Available for Sale (Parenthetical) (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Marketable Securities [Abstract]
Held for investment at fair value	$ 4,601	$ 8,850

XML

Securities - Summary of Amortized Cost and Estimated Fair Values of Securities Held for Investment (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 4,554	$ 8,789
Gross Unrealized Gains	49	61
Gross Unrealized Losses	(2)
Estimated Fair Value	4,601	8,850
Mortgage Backed Securities [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	273	347
Gross Unrealized Gains	21	25
Estimated Fair Value	294	372
States and Political Subdivisions [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	3,781	7,942
Gross Unrealized Gains	28	36
Gross Unrealized Losses	(2)
Estimated Fair Value	3,807	7,978
Other Securities [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	500	500
Estimated Fair Value	$ 500	$ 500

XML

Securities - Summary of Amortized Cost and Estimated Fair Values of Securities Available for Sale (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 465,947	$ 541,670
Gross Unrealized Gains	4,125	3,424
Gross Unrealized Losses	(888)	(934)
Estimated Fair Value	469,184	544,160
U.S. Treasuries [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	204,350	328,965
Gross Unrealized Gains	1,773	776
Gross Unrealized Losses		(45)
Estimated Fair Value	206,123	329,696
U.S. Federal Agencies [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	192,271	131,522
Gross Unrealized Gains	494	527
Gross Unrealized Losses	(117)	(153)
Estimated Fair Value	192,648	131,896
Mortgage Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	20,467	21,973
Gross Unrealized Gains	379	425
Gross Unrealized Losses	(561)	(543)
Estimated Fair Value	20,285	21,855
States and Political Subdivisions [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	42,412	49,521
Gross Unrealized Gains	1,354	1,447
Gross Unrealized Losses	(62)	(48)
Estimated Fair Value	43,704	50,920
Other Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	6,447	9,689
Gross Unrealized Gains	125	249
Gross Unrealized Losses	(148)	(145)
Estimated Fair Value	$ 6,424	$ 9,793

XML

Securities - Additional Information (Detail) - USD ($) $ in Millions	1 Months Ended
	Jun. 30, 2015	Jan. 31, 2015
Council Oak Investment Corporation [Member]
Schedule of Available-for-sale Securities [Line Items]
Pretax gain on sale of equity investments		$ 1.7
Council Oak Partners [Member]
Schedule of Available-for-sale Securities [Line Items]
Pretax gain on sale of equity investments	$ 5.3

XML

Securities - Maturity of Securities (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Held for Investment, Contractual maturity of debt securities, Amortized Cost
Amortized cost, Within one year	$ 1,637	$ 5,168
Amortized cost, After one year but within five years	2,162	2,800
Amortized cost, After five years but within ten years	736	795
Amortized cost, After ten years	19	26
Amortized Cost	4,554	8,789
Available for sale, Contractual maturity of debt securities, Amortized Cost
Amortized Cost, Within one year	205,834	272,820
Amortized Cost, After one year but within five years	178,939	178,617
Amortized Cost, After five years but within ten years	6,608	8,483
Amortized Cost, After ten years	68,119	75,522
Total debt securities	459,500	535,442
Amortized Cost, Other securities	6,447	6,228
Amortized Cost	465,947	541,670
Held for Investment, Contractual maturity of debt securities, Estimated Fair Value
Estimated Fair Value, Within one year	1,646	5,174
Estimated Fair Value, After one year but within five years	2,179	2,829
Estimated Fair Value, After five years but within ten years	756	319
Estimated Fair Value, After ten years	20	528
Estimated Fair Value	4,601	8,850
Available for sale, Contractual maturity of debt securities, Estimated Fair Value
Estimated Fair Value, Within one year	206,093	272,779
Estimated Fair Value, After one year but within five years	181,187	180,145
Estimated Fair Value, After five years but within ten years	7,088	9,075
Estimated Fair Value, After ten years	68,392	75,853
Total debt securities	462,760	537,852
Estimated Fair Value, Other securities	6,424	6,308
Estimated Fair Value, Total	$ 469,184	$ 544,160

XML

Securities - Company's Book Value of Pledged Securities (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Pledged Financial Instruments Not Separately Reported Securities Pledged By Type Of Security [Abstract]
Book value of pledged securities	$ 419,481	$ 493,540

XML

Loans and Allowance for Loan Losses - Schedule of Loans Outstanding by Category (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Financing Receivable Recorded Investment [Line Items]
Total loans	$ 4,307,827	$ 4,232,048
Percent	100.00%	100.00%
Taxable [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	$ 39,160	$ 17,605
Percent	0.91%	0.42%
Tax-exempt [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	$ 39,930	$ 33,575
Percent	0.93%	0.79%
Commercial and Financial [Member] | Commercial and Industrial [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	$ 792,335	$ 795,803
Percent	18.39%	18.80%
Commercial and Financial [Member] | Oil & Gas Production And Equipment [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	$ 75,627	$ 87,304
Percent	1.76%	2.06%
Commercial and Financial [Member] | Agriculture [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	$ 136,150	$ 150,620
Percent	3.16%	3.56%
Real Estate [Member] | Construction [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	$ 402,901	$ 403,664
Percent	9.35%	9.54%
Real Estate [Member] | Farmland [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	$ 191,218	$ 184,707
Percent	4.44%	4.36%
Real Estate [Member] | One to Four Family Residences [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	$ 845,360	$ 821,251
Percent	19.62%	19.41%
Real Estate [Member] | Multifamily Residential Properties [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	$ 59,967	$ 65,477
Percent	1.39%	1.55%
Real Estate [Member] | Commercial [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	$ 1,410,730	$ 1,356,430
Percent	32.75%	32.05%
Consumer [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	$ 277,671	$ 283,636
Percent	6.45%	6.70%
Other (Not Classified Above) [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	$ 36,778	$ 31,976
Percent	0.85%	0.76%

XML

Loans and Allowance for Loan Losses - Additional Information (Detail) $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2016 USD ($)	Sep. 30, 2015 USD ($)	Dec. 31, 2015 USD ($) SecurityLoan
Financing Receivable Recorded Investment [Line Items]
Total loans	$ 4,307,827		$ 4,232,048
Percentage of loans secured by real estate	65.00%
Interest income that would have been recognized	$ 1,500	$ 1,500
Troubled debt restructuring principal deferral | SecurityLoan			1
Commercial and Industrial [Member] | Ancillary Services [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	$ 54,000

XML

Loans and Allowance for Loan Losses - Summary of Nonperforming and Restructured Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Summary Of Nonperforming And Restructured Assets [Abstract]
Past due 90 days or more and still accruing	$ 1,906	$ 1,841
Nonaccrual	31,014	30,096
Restructured	1,842	15,143
Total nonperforming and restructured loans	34,762	47,080
Other real estate owned and repossessed assets	4,339	8,214
Total nonperforming and restructured assets	$ 39,101	$ 55,294

XML

Loans and Allowance for Loan Losses - Summary of Amounts Included in Nonaccrual Loans Segregated by Class of Loans (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Financing Receivable, Recorded Investment, Past Due [Line Items]
Nonaccrual Loans, Total	$ 31,014	$ 30,096
Real Estate [Member] | Non-residential Real Estate Owner Occupied [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Nonaccrual Loans, Total	274	261
Real Estate [Member] | Non-residential Real Estate Other [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Nonaccrual Loans, Total	5,910	3,957
Real Estate [Member] | Residential Real Estate Permanent Mortgage [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Nonaccrual Loans, Total	829	656
Real Estate [Member] | Residential Real Estate All Other [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Nonaccrual Loans, Total	4,694	1,833
Commercial and Financial [Member] | Non-consumer Non-real Estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Nonaccrual Loans, Total	4,849	10,159
Consumer Non-real Estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Nonaccrual Loans, Total	472	312
Other Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Nonaccrual Loans, Total	9,008	9,381
Acquired Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Nonaccrual Loans, Total	$ 4,978	$ 3,537

XML

Loans and Allowance for Loan Losses - Age Analysis of Past Due Loans Segregated by Class of Loans (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans	$ 37,855	$ 24,673
Current Loans	4,269,972	4,207,375
Total Loans	4,307,827	4,232,048
Accruing Loans 90 Days or More Past Due	1,906	1,841
30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans	17,537	16,404
60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans	5,749	2,831
90 Days and Greater [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans	14,569	5,438
Real Estate [Member] | Non-residential Real Estate Owner Occupied [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans	5,109	803
Current Loans	521,548	502,094
Total Loans	526,657	502,897
Accruing Loans 90 Days or More Past Due	269
Real Estate [Member] | Non-residential Real Estate Other [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans	2,585	1,825
Current Loans	1,126,466	1,108,935
Total Loans	1,129,051	1,110,760
Accruing Loans 90 Days or More Past Due	91	521
Real Estate [Member] | Residential Real Estate Permanent Mortgage [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans	4,202	4,124
Current Loans	327,619	328,477
Total Loans	331,821	332,601
Accruing Loans 90 Days or More Past Due	468	493
Real Estate [Member] | Residential Real Estate All Other [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans	3,937	4,275
Current Loans	730,581	672,414
Total Loans	734,518	676,689
Accruing Loans 90 Days or More Past Due	469	193
Real Estate [Member] | 30 to 59 Days Past Due [Member] | Non-residential Real Estate Owner Occupied [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans	3,899	441
Real Estate [Member] | 30 to 59 Days Past Due [Member] | Non-residential Real Estate Other [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans	504	1,149
Real Estate [Member] | 30 to 59 Days Past Due [Member] | Residential Real Estate Permanent Mortgage [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans	2,278	2,840
Real Estate [Member] | 30 to 59 Days Past Due [Member] | Residential Real Estate All Other [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans	1,952	2,842
Real Estate [Member] | 60 to 89 Days Past Due [Member] | Non-residential Real Estate Owner Occupied [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans	704	179
Real Estate [Member] | 60 to 89 Days Past Due [Member] | Non-residential Real Estate Other [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans	86	108
Real Estate [Member] | 60 to 89 Days Past Due [Member] | Residential Real Estate Permanent Mortgage [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans	895	636
Real Estate [Member] | 60 to 89 Days Past Due [Member] | Residential Real Estate All Other [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans	526	609
Real Estate [Member] | 90 Days and Greater [Member] | Non-residential Real Estate Owner Occupied [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans	506	183
Real Estate [Member] | 90 Days and Greater [Member] | Non-residential Real Estate Other [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans	1,995	568
Real Estate [Member] | 90 Days and Greater [Member] | Residential Real Estate Permanent Mortgage [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans	1,029	648
Real Estate [Member] | 90 Days and Greater [Member] | Residential Real Estate All Other [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans	1,459	824
Commercial and Financial [Member] | Non-consumer Non-real Estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans	7,190	2,626
Current Loans	989,351	982,136
Total Loans	996,541	984,762
Accruing Loans 90 Days or More Past Due	196	152
Commercial and Financial [Member] | 30 to 59 Days Past Due [Member] | Non-consumer Non-real Estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans	5,203	2,278
Commercial and Financial [Member] | 60 to 89 Days Past Due [Member] | Non-consumer Non-real Estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans	1,522	161
Commercial and Financial [Member] | 90 Days and Greater [Member] | Non-consumer Non-real Estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans	465	187
Consumer Non-real Estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans	3,234	3,358
Current Loans	278,381	265,511
Total Loans	281,615	268,869
Accruing Loans 90 Days or More Past Due	270	278
Consumer Non-real Estate [Member] | 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans	2,020	2,237
Consumer Non-real Estate [Member] | 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans	758	772
Consumer Non-real Estate [Member] | 90 Days and Greater [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans	456	349
Other Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans	9,642	5,621
Current Loans	138,276	156,995
Total Loans	147,918	162,616
Accruing Loans 90 Days or More Past Due		132
Other Loans [Member] | 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans	1,208	3,565
Other Loans [Member] | 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans	235	295
Other Loans [Member] | 90 Days and Greater [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans	8,199	1,761
Acquired Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans	1,956	2,041
Current Loans	157,750	190,813
Total Loans	159,706	192,854
Accruing Loans 90 Days or More Past Due	143	72
Acquired Loans [Member] | 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans	473	1,052
Acquired Loans [Member] | 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans	1,023	71
Acquired Loans [Member] | 90 Days and Greater [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans	$ 460	$ 918

XML

Loans and Allowance for Loan Losses - Impaired Loans Segregated by Class of Loans (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance	$ 46,273	$ 57,126
Recorded Investment with Allowance	34,934	47,667
Related Allowance	5,475	3,268
Average Recorded Investment	34,672	50,521
Real Estate [Member] | Non-residential Real Estate Owner Occupied [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance	728	507
Recorded Investment with Allowance	645	383
Related Allowance	48	14
Average Recorded Investment	531	446
Real Estate [Member] | Non-residential Real Estate Other [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance	8,049	21,068
Recorded Investment with Allowance	6,001	19,052
Related Allowance	335	357
Average Recorded Investment	5,653	19,655
Real Estate [Member] | Residential Real Estate Permanent Mortgage [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance	1,545	1,401
Recorded Investment with Allowance	1,353	1,209
Related Allowance	108	81
Average Recorded Investment	1,019	1,125
Real Estate [Member] | Residential Real Estate All Other [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance	5,704	2,498
Recorded Investment with Allowance	5,465	2,235
Related Allowance	1,428	242
Average Recorded Investment	6,007	1,958
Commercial and Financial [Member] | Non-consumer Non-real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance	11,644	13,897
Recorded Investment with Allowance	6,255	10,312
Related Allowance	1,470	2,062
Average Recorded Investment	7,347	11,786
Consumer Non-real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance	898	738
Recorded Investment with Allowance	863	715
Related Allowance	235	181
Average Recorded Investment	909	652
Other Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance	10,440	10,722
Recorded Investment with Allowance	9,008	9,513
Related Allowance	1,851	331
Average Recorded Investment	9,191	10,335
Acquired Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance	7,265	6,295
Recorded Investment with Allowance	5,344	4,248
Average Recorded Investment	$ 4,015	$ 4,564

XML

Loans and Allowance for Loan Losses - Internal Loan Grading by Class of Loans (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Financing Receivable Recorded Investment [Line Items]
Total loans	$ 4,307,827	$ 4,232,048
Real Estate [Member] | Non-residential Real Estate Owner Occupied [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	526,657	502,897
Real Estate [Member] | Non-residential Real Estate Other [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	1,129,051	1,110,760
Real Estate [Member] | Residential Real Estate Permanent Mortgage [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	331,821	332,601
Real Estate [Member] | Residential Real Estate All Other [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	734,518	676,689
Commercial and Financial [Member] | Non-consumer Non-real Estate [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	996,541	984,762
Consumer Non-real Estate [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	281,615	268,869
Other Loans [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	147,918	162,616
Acquired Loans [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	159,706	192,854
Grade 1 [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	3,579,021	3,604,903
Grade 1 [Member] | Real Estate [Member] | Non-residential Real Estate Owner Occupied [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	432,000	417,529
Grade 1 [Member] | Real Estate [Member] | Non-residential Real Estate Other [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	941,523	945,993
Grade 1 [Member] | Real Estate [Member] | Residential Real Estate Permanent Mortgage [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	291,611	295,265
Grade 1 [Member] | Real Estate [Member] | Residential Real Estate All Other [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	604,144	554,007
Grade 1 [Member] | Commercial and Financial [Member] | Non-consumer Non-real Estate [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	807,385	821,394
Grade 1 [Member] | Consumer Non-real Estate [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	261,859	251,994
Grade 1 [Member] | Other Loans [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	138,497	153,416
Grade 1 [Member] | Acquired Loans [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	102,002	165,305
Grade 2 [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	608,160	547,814
Grade 2 [Member] | Real Estate [Member] | Non-residential Real Estate Owner Occupied [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	78,484	76,749
Grade 2 [Member] | Real Estate [Member] | Non-residential Real Estate Other [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	166,984	156,159
Grade 2 [Member] | Real Estate [Member] | Residential Real Estate Permanent Mortgage [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	31,830	29,793
Grade 2 [Member] | Real Estate [Member] | Residential Real Estate All Other [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	113,822	111,879
Grade 2 [Member] | Commercial and Financial [Member] | Non-consumer Non-real Estate [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	162,879	140,384
Grade 2 [Member] | Consumer Non-real Estate [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	16,461	14,433
Grade 2 [Member] | Other Loans [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	5,464	5,851
Grade 2 [Member] | Acquired Loans [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	32,236	12,566
Grade 3 [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	93,932	54,695
Grade 3 [Member] | Real Estate [Member] | Non-residential Real Estate Owner Occupied [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	15,602	8,304
Grade 3 [Member] | Real Estate [Member] | Non-residential Real Estate Other [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	14,607	4,580
Grade 3 [Member] | Real Estate [Member] | Residential Real Estate Permanent Mortgage [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	6,918	6,315
Grade 3 [Member] | Real Estate [Member] | Residential Real Estate All Other [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	11,347	9,109
Grade 3 [Member] | Commercial and Financial [Member] | Non-consumer Non-real Estate [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	21,309	12,687
Grade 3 [Member] | Consumer Non-real Estate [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	2,499	1,779
Grade 3 [Member] | Other Loans [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	1,505	872
Grade 3 [Member] | Acquired Loans [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	20,145	11,049
Grade 4 [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	26,714	24,559
Grade 4 [Member] | Real Estate [Member] | Non-residential Real Estate Owner Occupied [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	571	315
Grade 4 [Member] | Real Estate [Member] | Non-residential Real Estate Other [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	5,937	4,028
Grade 4 [Member] | Real Estate [Member] | Residential Real Estate Permanent Mortgage [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	1,462	1,228
Grade 4 [Member] | Real Estate [Member] | Residential Real Estate All Other [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	5,205	1,694
Grade 4 [Member] | Commercial and Financial [Member] | Non-consumer Non-real Estate [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	4,968	10,297
Grade 4 [Member] | Consumer Non-real Estate [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	796	662
Grade 4 [Member] | Other Loans [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	2,452	2,477
Grade 4 [Member] | Acquired Loans [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	$ 5,323	3,858
Grade 5 [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans		77
Grade 5 [Member] | Consumer Non-real Estate [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans		1
Grade 5 [Member] | Acquired Loans [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans		$ 76

XML

Loans and Allowance for Loan Losses - Activity in All by Class of Loans (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Financing Receivable Allowance For Credit Losses [Line Items]
Balance at beginning of period	$ 46,566	$ 42,621	$ 41,666	$ 40,889
Charge- offs	(1,560)	(3,174)	(3,769)	(4,202)
Recoveries	115	99	317	254
Net charge- offs	(1,445)	(3,075)	(3,452)	(3,948)
Provisions charged to operations	2,940	1,424	9,847	4,029
Balance at end of period	48,061	40,970	48,061	40,970
Real Estate [Member] | Non-residential Real Estate Owner Occupied [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Balance at beginning of period	4,896	4,503	4,661	4,406
Charge- offs	(1)		(11)	(1)
Recoveries				1
Net charge- offs	(1)		(11)
Provisions charged to operations	214	36	459	133
Balance at end of period	5,109	4,539	5,109	4,539
Real Estate [Member] | Non-residential Real Estate Other [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Balance at beginning of period	10,302	9,880	9,921	9,616
Charge- offs	(5)	(708)	(9)	(708)
Recoveries	1	1	3	2
Net charge- offs	(4)	(707)	(6)	(706)
Provisions charged to operations	285	814	668	1,077
Balance at end of period	10,583	9,987	10,583	9,987
Real Estate [Member] | Residential Real Estate Permanent Mortgage [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Balance at beginning of period	3,203	3,110	3,148	2,948
Charge- offs	(58)	(28)	(157)	(124)
Recoveries	10	15	48	29
Net charge- offs	(48)	(13)	(109)	(95)
Provisions charged to operations	52	(26)	168	218
Balance at end of period	3,207	3,071	3,207	3,071
Real Estate [Member] | Residential Real Estate All Other [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Balance at beginning of period	8,293	6,485	6,725	6,269
Charge- offs	(10)	(48)	(147)	(123)
Recoveries	8	4	19	13
Net charge- offs	(2)	(44)	(128)	(110)
Provisions charged to operations	212	168	1,906	450
Balance at end of period	8,503	6,609	8,503	6,609
Commercial and Financial [Member] | Non-consumer Non-real Estate [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Balance at beginning of period	13,441	13,713	11,754	12,771
Charge- offs	(1,053)	(2,180)	(2,358)	(2,349)
Recoveries	31	38	77	76
Net charge- offs	(1,022)	(2,142)	(2,281)	(2,273)
Provisions charged to operations	(385)	86	2,561	1,159
Balance at end of period	12,034	11,657	12,034	11,657
Consumer Non-real Estate [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Balance at beginning of period	2,749	2,499	2,642	2,404
Charge- offs	(374)	(152)	(729)	(382)
Recoveries	61	35	137	90
Net charge- offs	(313)	(117)	(592)	(292)
Provisions charged to operations	443	160	829	430
Balance at end of period	2,879	2,542	2,879	2,542
Other Loans [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Balance at beginning of period	3,377	2,431	2,648	2,359
Charge- offs	(18)	(20)	(300)	(283)
Recoveries	2	6	15	15
Net charge- offs	(16)	(14)	(285)	(268)
Provisions charged to operations	812	134	1,810	460
Balance at end of period	4,173	2,551	4,173	2,551
Acquired Loans [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Balance at beginning of period	305		167	116
Charge- offs	(41)	(38)	(58)	(232)
Recoveries	2		18	28
Net charge- offs	(39)	(38)	(40)	(204)
Provisions charged to operations	1,307	52	1,446	102
Balance at end of period	$ 1,573	$ 14	$ 1,573	$ 14

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Loans and Allowance for Loan Losses - Allowance for Loan Losses Outstanding by Impairment Methodology (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Individually evaluated for impairment	$ 10,000	$ 5,985
Collectively evaluated for impairment	38,061	35,681
Real Estate [Member] | Non-residential Real Estate Owner Occupied [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Individually evaluated for impairment	633	323
Collectively evaluated for impairment	4,476	4,338
Real Estate [Member] | Non-residential Real Estate Other [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Individually evaluated for impairment	880	323
Collectively evaluated for impairment	9,703	9,598
Real Estate [Member] | Residential Real Estate Permanent Mortgage [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Individually evaluated for impairment	460	399
Collectively evaluated for impairment	2,747	2,749
Real Estate [Member] | Residential Real Estate All Other [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Individually evaluated for impairment	2,190	839
Collectively evaluated for impairment	6,313	5,886
Commercial and Financial [Member] | Non-consumer Non-real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Individually evaluated for impairment	3,445	3,365
Collectively evaluated for impairment	8,589	8,389
Consumer Non-real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Individually evaluated for impairment	580	445
Collectively evaluated for impairment	2,299	2,197
Other Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Individually evaluated for impairment	1,812	291
Collectively evaluated for impairment	2,361	2,357
Acquired Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Collectively evaluated for impairment	$ 1,573	$ 167

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Loans and Allowance for Loan Losses - Loans Outstanding by Impairment Methodology (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Individually evaluated for impairment	$ 93,358	$ 63,295
Collectively evaluated for impairment	4,189,001	4,153,770
Receivables Acquired with Deteriorated Credit Quality [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans acquired with deteriorated credit quality	25,468	14,983
Real Estate [Member] | Non-residential Real Estate Owner Occupied [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Individually evaluated for impairment	16,173	8,619
Collectively evaluated for impairment	510,484	494,278
Real Estate [Member] | Non-residential Real Estate Other [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Individually evaluated for impairment	20,544	8,608
Collectively evaluated for impairment	1,108,507	1,102,152
Real Estate [Member] | Residential Real Estate Permanent Mortgage [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Individually evaluated for impairment	8,380	7,543
Collectively evaluated for impairment	323,441	325,058
Real Estate [Member] | Residential Real Estate All Other [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Individually evaluated for impairment	16,552	10,803
Collectively evaluated for impairment	717,966	665,886
Commercial and Financial [Member] | Non-consumer Non-real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Individually evaluated for impairment	26,278	22,983
Collectively evaluated for impairment	970,263	961,779
Consumer Non-real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Individually evaluated for impairment	3,212	2,416
Collectively evaluated for impairment	278,403	266,453
Other Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Individually evaluated for impairment	2,219	2,323
Collectively evaluated for impairment	145,699	160,293
Acquired Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Collectively evaluated for impairment	134,238	177,871
Acquired Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans acquired with deteriorated credit quality	$ 25,468	$ 14,983

XML

Loans and Allowance for Loan Losses - Transfers from Loans to Other Real Estate Owned and Repossessed Assets (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Financing Receivable Allowance For Credit Loss Additional Information Transfer From Loans To Other Real Estate Owned And Repossessed Assets [Abstract]
Other real estate owned	$ 2,453	$ 3,155
Repossessed assets	1,117	794
Total	$ 3,570	$ 3,949

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Intangible Assets - Summary of Intangible Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 23,632	$ 26,570
Accumulated Amortization	(9,734)	(10,875)
Net Carrying Amount	13,898	15,695
Core Deposit Intangibles [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	17,447	20,333
Accumulated Amortization	(6,151)	(7,586)
Net Carrying Amount	11,296	12,747
Customer Relationship Intangibles [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	5,699	5,699
Accumulated Amortization	(3,331)	(3,061)
Net Carrying Amount	2,368	2,638
Mortgage Servicing Intangibles [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	486	538
Accumulated Amortization	(252)	(228)
Net Carrying Amount	$ 234	$ 310

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Intangible Assets - Summary of Goodwill by Business Segment (Detail) $ in Thousands	Sep. 30, 2016 USD ($)
Goodwill [Line Items]
Balance at December 31, 2015	$ 54,042
Balance at September 30, 2016	54,042
Metropolitan Banks [Member]
Goodwill [Line Items]
Balance at December 31, 2015	8,078
Balance at September 30, 2016	8,078
Community Banks [Member]
Goodwill [Line Items]
Balance at December 31, 2015	40,050
Balance at September 30, 2016	40,050
Other Financial Services [Member]
Goodwill [Line Items]
Balance at December 31, 2015	5,464
Balance at September 30, 2016	5,464
Executive, Operations & Support [Member]
Goodwill [Line Items]
Balance at December 31, 2015	450
Balance at September 30, 2016	$ 450

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Stock-Based Compensation - Additional Information (Detail) - shares	9 Months Ended
	Sep. 30, 2016	May 31, 2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Deferred board fees percentage for stock units accumulation	100.00%
Nonqualified Incentive Stock Option Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period in years	7 years
Nonqualified Incentive Stock Option Plan [Member] | Stock Option [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares to be issued under incentive stock option plan		3,200,000
Shares for future grants	215,735
Stock option plan termination date	Dec. 31, 2019
Option exercisable rate	25.00%
Option exercisable period	4 years
Options expire period	15 years
Vesting period in years, start	4 years
Share based compensation options exercisable period	2023
Options vest and exercisable Description	The options are exercisable beginning four years from the date of grant at the rate of 25% per year for four years. Options expire at the end of fifteen years from the date of grant
Nonqualified Incentive Stock Option Plan [Member] | Stock Option [Member] | Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock price percentage to fair value at grant date	100.00%
Non-Employee Directors Stock Option Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares to be issued under incentive stock option plan		260,000
Shares for future grants	40,000
Option exercisable rate	25.00%
Option exercisable period	1 year
Options expire period	15 years
Share based compensation options exercisable period	2020
Options vest and exercisable Description	The options are exercisable beginning one year from the date of grant at the rate of 25% per year for four years
Vesting period in years	4 years
Number of options granted for non-employee director	10,000
Non-Employee Directors Stock Option Plan [Member] | Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock price percentage to fair value at grant date	100.00%
Banc First Deferred Stock Compensation Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares authorized for issuance under deferred compensation plan		111,110
Number of shares of common stock distributed	2,463

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Stock-Based Compensation - Summary of Activity Under Stock Option Plan (Detail) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2016 USD ($) $ / shares shares
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Outstanding at beginning period - Options | shares	1,018,149
Options granted | shares	30,000
Options exercised | shares	(195,174)
Options canceled, forfeited or expired - Options | shares	(30,000)
Outstanding at ending period - Options | shares	822,975
Exercisable at ending period - Options | shares	370,350
Outstanding at beginning period - Wgtd. Avg. Exercise Price | $ / shares	$ 40.69
Options granted - Wgtd. Avg. Exercise Price | $ / shares	58.08
Options exercised - Wgtd. Avg. Exercise Price | $ / shares	29.38
Options cancelled, forfeited, or expired - Wgtd. Avg. Exercise Price | $ / shares	55.88
Outstanding at ending period - Wgtd. Avg. Exercise Price | $ / shares	43.46
Exercisable at ending period - Wgtd. Avg. Exercise Price | $ / shares	$ 36.00
Outstanding at ending period - Wgtd. Avg. Remaining Contractual Term, years	9 years 4 months 6 days
Exercisable at ending period - Wgtd. Avg. Remaining Contractual Term, years	6 years 5 months 12 days
Outstanding at ending period - Aggregate Intrinsic Value | $	$ 23,910
Exercisable at ending period - Aggregate Intrinsic Value | $	$ 13,521

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Stock-Based Compensation - Options Granted and Options Exercised Under Stock Option Plan (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Share Based Compensation Arrangement By Share Based Payment Award Options Additional Disclosures [Abstract]
Weighted average grant-date fair value per share of options granted	$ 13.99	$ 11.89	$ 11.92	$ 11.55
Total intrinsic value of options exercised	$ 5,063	$ 1,129	$ 6,733	$ 3,258
Cash received from options exercised	3,859	779	5,735	2,132
Tax benefit realized from options exercised	$ 1,958	$ 437	$ 2,604	$ 1,260

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Stock-Based Compensation - Stock-Based Employee Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Labor And Related Expense [Abstract]
Stock-based compensation expense	$ 365	$ 489	$ 1,266	$ 1,243
Tax benefit	142	189	490	481
Stock-based compensation expense, net of tax	$ 223	$ 300	$ 776	$ 762

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Stock-Based Compensation - Unearned Stock-based Compensation Expense (Detail) $ in Thousands	Sep. 30, 2016 USD ($)
Remaining Fair Value Of Stock Options [Abstract]
Unearned stock-based compensation expense	$ 3,049

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Stock-Based Compensation - Assumptions Used for Computing Stock-Based Compensation Expense (Detail)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions And Methodology [Abstract]
Risk-free interest rate, minimum	1.46%	1.83%
Risk-free interest rate, maximum	2.02%	2.26%
Dividend yield	2.00%	2.00%
Stock price volatility, minimum	20.41%	18.23%
Stock price volatility, maximum	21.78%	19.65%
Expected term	10 years	10 years

XML

Stock - Based Compensation - Summary of Accumulated Stock Units (Detail) - $ / shares	Sep. 30, 2016	Dec. 31, 2015
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Accumulated stock units	68,969	66,376
Average price	$ 41.12	$ 39.64

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Stockholders' Equity - Additional Information (Detail) - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Stockholders Equity [Line Items]
Increase remaining shares to be purchased	150,000	194,723
2016 [Member]
Stockholders Equity [Line Items]
Implementation of the capital conservation buffer, Percentage	0.625%
Capital conservation buffer implementation phase-in period	4 years
2019 [Member]
Stockholders Equity [Line Items]
Capital Conservation Buffer Maximum Level	2.50%
Maximum [Member]
Stockholders Equity [Line Items]
Quantitative limit for trust preferred securities to be included in tier 1 capital	$ 15,000,000,000

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Stockholders' Equity - Summary of Shares Repurchased Under Stock Purchase Program (Detail) - $ / shares	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Summary Of Shares Repurchased Under Stock Purchase Program [Abstract]
Number of shares repurchased	100,000
Average price of shares repurchased	$ 55.23
Shares remaining to be repurchased	150,000	194,723

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Stockholders' Equity - Required Capital Amounts and Company's Respective Ratios (Detail) $ in Thousands	Sep. 30, 2016 USD ($)
Parent Company [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Total Capital Amount	$ 708,421
Total Capital To Risk Weighted Assets Actual Ratio	15.06%
Capital Required For Capital Adequacy Amount	$ 376,350
Capital Required For Capital Adequacy to Risk Weighted Assets Ratio	8.00%
Capital With Capital Conservation Buffer Amount	$ 405,752
Capital With Capital Conservation To Risk Based Weighted Assets Buffer Ratio	8.625%
Common Equity Tier 1 Risk Based Capital Amount	$ 629,360
Common Equity Tier 1 Risk Based Capital To Risk Weighted Assets Ratio	13.38%
Common Equity Tier 1 Risk Based Capital Required For Capital Adequacy Amount	$ 211,697
Common Equity Tier 1 Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets Ratio	4.50%
Common Equity Tier 1 Risk Based Capital With Capital Conservation Buffer Amount	$ 241,099
Common Equity Tier 1 Risk Based Capital With Capital Conservation Buffer To Risk Weighted Assets Ratio	5.125%
Tier 1 Risk Based Capital Amount	$ 660,360
Tier 1 Risk Based Capital To Risk Weighted Assets Ratio	14.04%
Tier 1 Risk Based Capital Required For Capital Adequacy Amount	$ 282,262
Tier 1 Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets Ratio	6.00%
Tier 1 Risk Based Capital With Capital Conservation Buffer Amount	$ 311,665
Tier 1 Risk Based Capital With Capital Conservation Buffer To Risk Weighted Assets Ratio	6.625%
Tier 1 Capital Amount	$ 660,360
Tier 1 Capital To Average Assets Ratio	9.89%
Tier 1 Capital Required For Capital Adequacy Amount	$ 267,195
Tier 1 Capital Required For Capital Adequacy To Average Assets Ratio	4.00%
BancFirst [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Total Capital Amount	$ 643,237
Total Capital To Risk Weighted Assets Actual Ratio	13.69%
Capital Required For Capital Adequacy Amount	$ 375,916
Capital Required For Capital Adequacy to Risk Weighted Assets Ratio	8.00%
Capital With Capital Conservation Buffer Amount	$ 405,284
Capital With Capital Conservation To Risk Based Weighted Assets Buffer Ratio	8.625%
Capital Required To Be Well Capitalized Amount	$ 469,895
Capital Required To Be Well Capitalized To Risk Weighted Assets Ratio	10.00%
Common Equity Tier 1 Risk Based Capital Amount	$ 575,176
Common Equity Tier 1 Risk Based Capital To Risk Weighted Assets Ratio	12.24%
Common Equity Tier 1 Risk Based Capital Required For Capital Adequacy Amount	$ 211,453
Common Equity Tier 1 Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets Ratio	4.50%
Common Equity Tier 1 Risk Based Capital With Capital Conservation Buffer Amount	$ 240,821
Common Equity Tier 1 Risk Based Capital With Capital Conservation Buffer To Risk Weighted Assets Ratio	5.125%
Common Equity Tier 1 Risk Based Capital Required To Be well Capitalized Amount	$ 305,432
Common Equity Tier 1 Risk Based Capital Required To Be well Capitalized Amount	6.50%
Tier 1 Risk Based Capital Amount	$ 595,176
Tier 1 Risk Based Capital To Risk Weighted Assets Ratio	12.67%
Tier 1 Risk Based Capital Required For Capital Adequacy Amount	$ 281,937
Tier 1 Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets Ratio	6.00%
Tier 1 Risk Based Capital With Capital Conservation Buffer Amount	$ 311,305
Tier 1 Risk Based Capital With Capital Conservation Buffer To Risk Weighted Assets Ratio	6.625%
Tier 1 Risk Based Capital Required To Be well Capitalized Amount	$ 375,916
Tier 1 Risk Based Capital Required To Be Well Capitalized To Risk Weighted Assets Ratio	8.00%
Tier 1 Capital Amount	$ 595,176
Tier 1 Capital To Average Assets Ratio	8.92%
Tier 1 Capital Required For Capital Adequacy Amount	$ 266,755
Tier 1 Capital Required For Capital Adequacy To Average Assets Ratio	4.00%
Tier 1 Capital Required To Be Well Capitalized Amount	$ 333,444
Tier 1 Capital Required To Be Well Capitalized To Average assets Ratio	5.00%

XML

Net Income Per Common Share - Basic and Diluted Net Income Per Common Share Based on Weighted-average Shares Outstanding (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Earnings Per Share Reconciliation [Abstract]
Income available to common stockholders	$ 17,982	$ 15,630	$ 52,054	$ 50,442
Income available to common stockholders plus assumed exercises of stock options	$ 17,982	$ 15,630	$ 52,054	$ 50,442
Income available to common stockholders - Shares	15,631,094	15,581,593	15,571,990	15,542,027
Dilutive effect of stock options - Shares	291,115	324,531	290,790	329,964
Income available to common stockholders plus assumed exercises of stock options - Shares	15,922,209	15,906,124	15,862,780	15,871,991
Income available to common stockholders - Per Share Amount	$ 1.15	$ 1.01	$ 3.34	$ 3.25
Income available to common stockholders plus assumed exercises of stock options - Per Share Amount	$ 1.13	$ 0.98	$ 3.28	$ 3.18

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Net Income Per Common Share - Average Exercise Prices of Options Excluded from Computation of Diluted Net Income Per Common Share (Detail) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Schedule Of Antidilutive Securities Excluded From Computation Of Earnings Per Share [Abstract]
Shares	141,565	145,261	183,314	165,927
Average Exercise Price	$ 60.63	$ 60.51	$ 59.74	$ 58.33

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Fair Value Measurements - Additional Information (Detail) - USD ($)	9 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Debt Instrument Fair Value Disclosure [Abstract]
Days from origination after which mortgage loan are sold	30 days
Transfer of securities between levels of fair value hierarchy	$ 0	$ 0
Amount of non-financial assets (liabilities)	0		$ 0
Non-financial assets or liabilities for which no impairment was provided	$ 0		$ 0

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Fair Value Measurements - Fair Value of Financial Assets and Liabilities Measured on Recurring Basis (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, at fair value	$ 469,184	$ 544,160
Derivative assets	1,017	1,946
Derivative liabilities	665	989
Loans held for sale	9,685	13,725
Level 2 Inputs [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	1,017	1,946
Derivative liabilities	665	989
Loans held for sale	9,685	13,725
U.S. Treasuries [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, at fair value	206,123	329,696
U.S. Treasuries [Member] | Level 1 Inputs [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, at fair value	206,123	329,696
U.S. Federal Agencies [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, at fair value	192,648	131,896
U.S. Federal Agencies [Member] | Level 2 Inputs [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, at fair value	192,648	131,896
Mortgage Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, at fair value	20,285	21,855
Mortgage Backed Securities [Member] | Level 2 Inputs [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, at fair value	5,469	7,039
Mortgage Backed Securities [Member] | Level 3 Inputs [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, at fair value	14,816	14,816
States and Political Subdivisions [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, at fair value	43,704	50,920
States and Political Subdivisions [Member] | Level 2 Inputs [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, at fair value	43,704	50,920
Other Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, at fair value	6,424	9,793
Other Securities [Member] | Level 2 Inputs [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, at fair value		3,485
Other Securities [Member] | Level 3 Inputs [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, at fair value	$ 6,424	$ 6,308

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Fair Value Measurements - Changes in Level 3 Assets Measured at Estimated Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation Calculation Roll Forward
Balance at the beginning of the year	$ 21,124	$ 28,459
Purchases	763	609
Settlements	(7)	(1,679)
Sales	(426)	(8,593)
(Losses) gains included in earnings	(111)	7,121
Total unrealized losses	(103)	(4,029)
Balance at the end of the period	$ 21,240	$ 21,888

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Fair Value Measurements - Assets Measured at Fair Value on Nonrecurring Basis (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Impaired Loans (Less Specific Allowance) [Member] | Level 3 [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total Fair Value	$ 29,459	$ 44,399
Foreclosed Assets [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Losses	2
Foreclosed Assets [Member] | Level 3 [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total Fair Value	1,117	1,097
Other Real Estate Owned [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Losses	146	128
Other Real Estate Owned [Member] | Level 3 [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total Fair Value	$ 3,034	$ 4,604

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Fair Value Measurements - Estimated Fair Values of Company's Financial Instruments (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015	Sep. 30, 2015	Dec. 31, 2014
FINANCIAL ASSETS
Cash and cash equivalents, Carrying Amount	$ 1,706,156	$ 1,598,177	$ 1,655,061	$ 1,913,895
Securities held for investment, Carrying Amount	4,554	8,789
Loans, net of allowance for loan losses, Carrying Amount	4,259,766	4,190,382
Securities held for investment, Fair Value	4,601	8,850
FINANCIAL LIABILITIES
Deposits, Carrying Amount	6,024,949	5,973,358
Short-term borrowings, Carrying Amount	4,000	500
Junior subordinated debentures, Carrying Amount	31,959	31,959
OFF-BALANCE SHEET FINANCIAL INSTRUMENTS
Loan commitments, Fair value	1,824	1,681
Letters of credit, Fair value	428	464
Level 2 Inputs [Member]
FINANCIAL ASSETS
Cash and cash equivalents, Carrying Amount	1,706,656	1,598,177
Securities held for investment, Carrying Amount	3,943	8,289
Cash and cash equivalents, Fair Value	1,706,656	1,598,177
Securities held for investment, Fair Value	3,990	8,350
FINANCIAL LIABILITIES
Deposits, Carrying Amount	6,024,949	5,973,538
Short-term borrowings, Carrying Amount	4,000	500
Junior subordinated debentures, Carrying Amount	31,959	31,959
Deposits, Fair Value	6,085,613	6,028,012
Short-term borrowings, Fair Value	4,000	500
Junior subordinated debentures, Fair Value	34,757	33,793
Level 3 Inputs [Member]
FINANCIAL ASSETS
Securities held for investment, Carrying Amount	611	500
Loans, net of allowance for loan losses, Carrying Amount	4,259,766	4,190,382
Securities held for investment, Fair Value	611	500
Loans, net of allowance for loan losses, Fair Value	$ 4,325,916	$ 4,222,153

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Derivative Financial Instruments - Notional Amounts and Estimated Fair Values of Outstanding Derivative Positions (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Derivatives, Fair Value [Line Items]
Derivative assets, Estimated Fair Value	$ 1,017	$ 1,946
Derivative liabilities, Estimated Fair Value	(665)	(989)
Other Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative assets, Estimated Fair Value	1,017	1,946
Other Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative liabilities, Estimated Fair Value	$ (665)	(989)
Oil [Member]
Derivatives, Fair Value [Line Items]
Notional Units	Barrels
Derivative assets, Notional Amount	$ 61	86
Derivative assets, Estimated Fair Value	190	604
Derivative liabilities, Notional Amount	(61)	(86)
Derivative liabilities, Estimated Fair Value	$ (131)	(378)
Natural Gas [Member]
Derivatives, Fair Value [Line Items]
Notional Units	MMBTUs
Derivative assets, Notional Amount	$ 2,540	3,920
Derivative assets, Estimated Fair Value	827	1,342
Derivative liabilities, Notional Amount	(2,540)	(3,920)
Derivative liabilities, Estimated Fair Value	$ (534)	$ (611)

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Derivative Financial Instruments - Recognized Derivative Income Included in Other Noninterest Income (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Derivative Gain Loss On Derivative Net [Abstract]
Derivative income	$ 3	$ 78	$ 14	$ 270

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Derivative Financial Instruments - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2016
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Company’s share of total profit	35.00%

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Derivative Financial Instruments - Summary of Company's Net Credit Exposure Relating to Oil and Gas Swaps and Options with Bank Counterparties (Detail) $ in Thousands	Dec. 31, 2015 USD ($)
Credit Risk Derivatives At Fair Value Net [Abstract]
Credit exposure	$ 37

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Segment Information - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2016 Business_Unit
Segment Reporting [Abstract]
Number of principal business units	4

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Segment Information - Results of Operations and Selected Financial Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Segment Reporting Information [Line Items]
Net interest income (expense)	$ 51,431	$ 46,876	$ 152,275	$ 138,717
Noninterest income	27,927	25,324	79,601	79,335
Income before taxes	27,214	24,424	78,814	77,319
Total Assets	6,783,537		6,783,537		$ 6,692,829
Operating Segments [Member] | Metropolitan Banks [Member]
Segment Reporting Information [Line Items]
Net interest income (expense)	15,893	15,221	47,435	45,946
Noninterest income	4,235	3,755	12,121	10,745
Income before taxes	10,970	9,463	30,558	29,152
Total Assets	2,351,771		2,351,771		2,277,870
Operating Segments [Member] | Community Banks [Member]
Segment Reporting Information [Line Items]
Net interest income (expense)	34,254	30,429	101,222	88,928
Noninterest income	14,918	13,427	42,922	38,743
Income before taxes	19,727	18,693	59,152	52,500
Total Assets	4,360,964		4,360,964		4,379,205
Operating Segments [Member] | Other Financial Services [Member]
Segment Reporting Information [Line Items]
Net interest income (expense)	1,617	1,638	4,624	5,156
Noninterest income	8,050	7,507	22,175	27,621
Income before taxes	2,683	3,098	8,228	15,015
Total Assets	95,999		95,999		128,697
Operating Segments [Member] | Executive, Operations & Support [Member]
Segment Reporting Information [Line Items]
Net interest income (expense)	(333)	(412)	(1,006)	(1,313)
Noninterest income	19,025	17,250	55,501	55,868
Income before taxes	11,964	9,616	33,711	34,024
Total Assets	733,573		733,573		624,428
Eliminations [Member]
Segment Reporting Information [Line Items]
Noninterest income	(18,301)	(16,615)	(53,118)	(53,642)
Income before taxes	(18,130)	$ (16,446)	(52,835)	$ (53,372)
Total Assets	$ (758,770)		$ (758,770)		$ (717,371)