Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 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)
Six Months Ended June 30, 2017
Outstanding at December 31, 2016		707,450		$	44.92
Options granted		25,000			91.39
Options exercised		(93,325	)		34.90
Outstanding at June 30, 2017		639,125			48.20	9.74 Yrs	$	30,933
Exercisable at June 30, 2017		277,250			38.77	6.85 Yrs	$	16,034

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 June 30,				Six Months Ended June 30,
	2017		2016		2017		2016
	(Dollars in thousands except per share data)
Weighted average grant-date fair value per share of options granted	$	21.92	$	11.29	$	21.92	$	11.40
Total intrinsic value of options exercised		1,032		891		5,645		1,670
Cash received from options exercised		647		1,001		3,257		1,876
Tax benefit realized from options exercised		399		345		2,183		646

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,
	2017		2016		2017		2016
	(Dollars in thousands)
Stock-based compensation expense	$	282	$	450	$	465	$	901
Tax benefit		109		174		180		348
Stock-based compensation expense, net of tax	$	173	$	276	$	285	$	553

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, 2017
	(Dollars in thousands)
Unearned stock-based compensation expense	$	2,858

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,
	2017	2016
Risk-free interest rate	2.15 to 2.38%	1.46 to 2.02%
Dividend yield	2.00%	2.00%
Stock price volatility	22.57 to 23.13%	20.41 to 20.64%
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,
	2017		2016
Accumulated stock units		67,226		70,022
Average price	$	43.69	$	41.74