Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 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)
Year Ended December 31, 2016
Outstanding at December 31, 2015		1,018,149		$	40.69
Options granted		30,000			58.08
Options exercised		(310,699	)		31.28
Options canceled, forfeited, or expired		(30,000	)		55.88
Outstanding at December 31, 2016		707,450			44.92	9.59Yrs	$	34,049
Exercisable at December 31, 2016		325,200			37.19	6.78Yrs	$	18,167
Year Ended December 31, 2015
Outstanding at December 31, 2014		1,029,657		$	36.55
Options granted		133,000			59.37
Options exercised		(120,758	)		26.60
Options canceled, forfeited, or expired		(23,750	)		37.16
Outstanding at December 31, 2015		1,018,149			40.69	8.84Yrs	$	18,251
Exercisable at December 31, 2015		499,599			32.98	5.53Yrs	$	12,812

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:

	Year Ended December 31,
	2016		2015		2014
	(Dollars in thousands, except per share data)
Weighted average grant-date fair value per share of options granted	$	11.92	$	11.72	$	12.27
Total intrinsic value of options exercised		12,230		4,376		5,597
Cash received from options exercised		9,720		3,212		4,870
Tax benefit realized from options exercised		4,731		1,693		2,165

Stock-based Employee Compensation Expense

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

	Year Ended December 31,
	2016		2015		2014
	(Dollars in thousands)
Stock-based compensation expense	$	1,636	$	1,717	$	1,676
Tax benefit		633		664		648
Stock-based compensation expense, net of tax	$	1,003	$	1,053	$	1,028

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:

	December 31, 2016
	(Dollars in thousands)
Unearned stock-based compensation expense	$	2,770

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:

Year Ended December 31,

2016

2015

2014

Risk-free interest rate

1.46 to 2.02%

1.83 to 2.26%

2.10 to 2.54%

Dividend yield

2.00

Stock price volatility

20.41 to 21.78%

18.23 to 21.08%

18.03 to 18.98%

Expected term

10 Yrs

Summary of Accumulated Stock Units

A summary of the accumulated stock units is as follows:

	December 31,
	2016		2015
Accumulated stock units		70,022		66,376
Average price	$	41.74	$	39.64