Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2017

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)
Three Months Ended March 31, 2017
Outstanding at December 31, 2016		707,450		$	44.92
Options exercised		(76,450	)		34.14
Outstanding at March 31, 2017		631,000			46.23	9.75 Yrs	$	27,558
Exercisable at March 31, 2017		265,625			38.46	6.88 Yrs	$	13,663

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 March 31,
	2017		2016
	(Dollars in thousands except per share data)
Weighted average grant-date fair value per share of options granted	$	—	$	11.47
Total intrinsic value of options exercised		4,613		779
Cash received from options exercised		2,610		875
Tax benefit realized from options exercised		1,784		301

Stock-based Employee Compensation Expense

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

	Three Months Ended March 31,
	2017		2016
	(Dollars in thousands)
Stock-based compensation expense	$	222	$	451
Tax benefit		71		174
Stock-based compensation expense, net of tax	$	151	$	277

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:

	March 31, 2017
	(Dollars in thousands)
Unearned stock-based compensation expense	$	2,538

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 on options granted during the periods presented:

	Three Months Ended March 31,
	2017		2016
Risk-free interest rate		—	1.91 to 2.02%
Dividend yield		—	2.00%
Stock price volatility		—	20.41 to 20.64%
Expected term		—	10 Yrs

Summary of Accumulated Stock Units

A summary of the accumulated stock units is as follows:

	March 31,		December 31,
	2017		2016
Accumulated stock units		67,230		70,022
Average price	$	42.87	$	41.74