Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2019

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, 2019
Outstanding at December 31, 2018		1,216,700		$	28.48
Options granted		40,000			55.38
Options exercised		(5,500	)		28.35
Options canceled, forfeited, or expired		(22,500	)		51.83
Outstanding at March 31, 2019		1,228,700			28.93	9.39 Yrs	$	28,536
Exercisable at March 31, 2019		613,700			21.78	6.98 Yrs	$	18,639

Options Exercised Under Stock Option Plan

The following table has additional information regarding options exercised under both the BancFirst ISOP and the BancFirst Directors’ Stock Option Plan:

	Three Months Ended March 31,
	2019		2018
	(Dollars in thousands)
Total intrinsic value of options exercised		$             145		$          2,860
Cash received from options exercised		156		1,233
Tax benefit realized from options exercised		37		729

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,
	2019		2018
	(Dollars in thousands)
Stock-based compensation expense	$	174	$	306
Tax benefit		44		78
Stock-based compensation expense, net of tax	$	130	$	228

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, 2019
	(Dollars in thousands)
Unearned stock-based compensation expense	$	3,437

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,
	2019		2018
Weighted average grant-date fair value per share of options granted	$	13.67	$	13.98
Risk-free interest rate	2.62 to 2.76%		2.55 to 2.92%
Dividend yield	2.00%		2.00%
Stock price volatility	22.93 to 22.96%		23.05 to 23.18%
Expected term	10 Yrs		10 Yrs

Summary of Accumulated Stock Units

A summary of the accumulated stock units is as follows:

	March 31,		December 31,
	2019		2018
Accumulated stock units		137,543		143,347
Average price	$	25.70	$	24.91