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STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2013

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:

		Options				Wgtd. Avg. Exercise Price				Wgtd. Avg. Remaining Contractual Term				Aggregate Intrinsic Value
		(Dollars in thousands, except per share data)
Nine Months Ended September 30, 2013
Outstanding at December 31, 2012			1,216,981			$	31.98
Options granted			60,000				44.11
Options exercised			(118,414	)			25.13
Options canceled, forfeited or expired			(5,000	)			43.02
Outstanding at September 30, 2013			1,153,567				33.26				8.69	Yrs		$	24,003
Exercisable at September 30, 2013			540,167				26.74				5.54	Yrs		$	14,763

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 September 30,								Nine Months Ended September 30,
		2013				2012				2013				2012
		(Dollars in thousands, except per share data)
Weighted average grant-date fair value per share of options granted		$	10.63			$	—			$	9.05			$	—
Total intrinsic value of options exercised			1,424				1,152				2,653				2,180
Cash received from options exercised			1,775				794				2,976				1,516
Tax benefit realized from options exercised			551				446				1,026				843

Stock-based Employee Compensation Expense

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

		Three Months Ended September 30,								Nine Months Ended September 30,
		2013				2012				2013				2012
		(Dollars in thousands)
Stock-based compensation expense		$	399			$	391			$	1,094			$	1,189
Tax benefit			(154	)			(151	)			(423	)			(460	)
Stock-based compensation expense, net of tax		$	245			$	240			$	671			$	729

Remaining Fair Value of Stock Options

The following table shows the remaining fair value of stock options:

		September 30, 2013
		(Dollars in thousands)
Fair value of stock options		$	4,902

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:

		Nine Months Ended September 30,
		2013				2012
Risk-free interest rate			2.70	%			1.74	%
Dividend yield			2.00	%			2.00	%
Stock price volatility			18.35	%			32.88	%
Expected term			10	Yrs			10	Yrs

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Tabular disclosure of share-based compensation plans that may be presented in a single table for outstanding, vested and expected to vest, and exercisable awards. The information that may be disclosed in this table may include, but is not limited to, number of shares, weighted average exercise price, weighted average remaining contractual life, and aggregate intrinsic value.

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Tabular disclosure of the total intrinsic value of options exercised (or share units converted), share-based liabilities paid, and the total fair value of shares vested during the year.

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-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

-SubTopic 10

-Section 50

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Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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Tabular disclosure of the total compensation cost related to nonvested awards not yet recognized and the weighted-average period over which it is expected to be recognized.

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