Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 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)
Six Months Ended June 30, 2019
Outstanding at December 31, 2018		1,216,700		$	28.48
Options granted		40,000			55.38
Options exercised		(27,300	)		22.37
Options canceled, forfeited, or expired		(22,500	)		51.83
Outstanding at June 30, 2019		1,206,900			29.07	9.20 Yrs	$	32,090
Exercisable at June 30, 2019		648,400			22.49	7.08 Yrs	$	21,506

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 June 30,				Six Months Ended June 30,
	2019		2018		2019		2018
	(Dollars in thousands)				(Dollars in thousands)
Total intrinsic value of options exercised	$	759	$	967	$	904	$	3,827
Cash received from options exercised		455		411		611		1,644
Tax benefit realized from options exercised		193		246		230		975

Stock-based Employee Compensation Expense

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

	Three Months Ended June 30,				Six Months Ended June 30,
	2019		2018		2019		2018
	(Dollars in thousands)				(Dollars in thousands)
Stock-based compensation expense	$	367	$	322	$	541	$	628
Tax benefit		94		82		138		160
Stock-based compensation expense, net of tax	$	273	$	240	$	403	$	468

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:

	June 30, 2019
	(Dollars in thousands)
Unearned stock-based compensation expense	$	3,198

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:

	Six Months Ended June 30,
	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 23.29%
Expected term	10 Yrs		10 Yrs

Summary of Accumulated Stock Units

A summary of the accumulated stock units is as follows:

	June 30,		December 31,
	2019		2018
Accumulated stock units		139,862		143,347
Average price	$	26.19	$	24.91