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Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2012

Stock-Based Compensation [Abstract]

Summary of the 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:

		Options				Wgtd. Avg. Exercise Price				Wgtd. Avg. Remaining Contractual Term				Aggregate Intrinsic Value
		(Dollars in thousands, except per share data)
Year Ended December 31, 2012
Outstanding at December 31, 2011			1,298,431			$	30.14
Options granted			49,000				40.93
Options exercised			(130,450	)			17.07
Options canceled, forfeited, or expired			—				—
Outstanding at December 31, 2012			1,216,981				31.98				8.63 Yrs			$	12,637
Exercisable at December 31, 2012			620,281				25.72				5.22 Yrs			$	10,324
Year Ended December 31, 2011
Outstanding at December 31, 2010			1,172,181			$	28.32
Options granted			180,000				39.39
Options exercised			(48,750	)			19.76
Options canceled, forfeited, or expired			(5,000	)			37.50
Outstanding at December 31, 2011			1,298,431				30.14				8.66 Yrs			$	9,607
Exercisable at December 31, 2011			706,731				23.27				5.34 Yrs			$	10,083

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,
		2012				2011				2010
		(Dollars in thousands, except per share data)
Weighted average grant-date fair value per share of options granted		$	8.82			$	12.79			$	15.69
Total intrinsic value of options exercised			3,297				912				1,445
Cash received from options exercised			2,227				963				1,611
Tax benefit realized from options exercised			1,275				353				559

Stock-based employee compensation expense

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

		Year Ended December 31,
		2012				2011				2010
		(Dollars in thousands)
Stock-based compensation expense		$	1,530			$	1,375			$	1,218
Tax			592				532				471
Stock-based compensation expense, net of tax		$	938			$	843			$	747

Remaining fair value of stock options

The Company will continue to amortize the remaining fair value of stock options over the remaining vesting period of approximately seven years. The following table shows the remaining fair value of stock options:

		December 31, 2012
		(Dollars in thousands)
Fair value of stock options		$	5,435

Assumptions used for computing stock-based employee compensation expense

The following table shows the assumptions used for computing stock-based compensation expense under the fair value method:

Year Ended December 31,

2012

2011

2010

Risk-free interest rate

1.74% to 1.95%

1.97% to 3.61%

2.62% to 4.00%

Dividend yield

2.00%

2.00%

2.00%

Stock price volatility

21.71% to 38.75%

25.26% to 38.43%

27.28% to 38.61%

Expected term

10Yrs

10Yrs

10Yrs

Summary of accumulated stock units

A summary of the accumulated stock units is as follows:

		December 31,
		2012				2011
Accumulated stock units			55,390				51,190
Average price		$	33.98			$	33.21

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