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