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STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 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)
Year Ended December 31, 2013
Outstanding at December 31, 2012			1,216,981			$	31.98
Options granted			115,000				49.13
Options exercised			(153,664	)			25.03
Options canceled, forfeited, or expired			(20,000	)			40.83
Outstanding at December 31, 2013			1,158,317				34.45				8.84Yrs			$	25,034
Exercisable at December 31, 2013			561,167				27.95				6.70Yrs			$	15,774
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				8.63Yrs			$	12,637
Exercisable at December 31, 2012			620,281				25.72				5.22Yrs			$	10,324

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,
		2013				2012				2011
		(Dollars in thousands, except per share data)
Weighted average grant-date fair value per share of options granted		$	10.88			$	8.82			$	12.79
Total intrinsic value of options exercised			3,723				3,297				912
Cash received from options exercised			3,846				2,227				963
Tax benefit realized from options exercised			1,440				1,275				353

Stock-based Employee Compensation Expense

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

		Year Ended December 31,
		2013				2012				2011
		(Dollars in thousands)
Stock-based compensation expense		$	1,360			$	1,530			$	1,375
Tax benefit			526				592				532
Stock-based compensation expense, net of tax		$	834			$	938			$	843

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, 2013
		(Dollars in thousands)
Fair value of stock options		$	5,132

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:

Year Ended December 31,

2013

2012

2011

Risk-free interest rate

1.95% to 3.15%

1.74% to 1.95%

1.97% to 3.61%

Dividend yield

2.00%

2.00%

2.00%

Stock price volatility

18.35% to 20.21%

21.71% to 38.75%

25.26% to 38.43%

Expected term

10Yrs

10Yrs

10Yrs

Summary of Accumulated Stock Units

his or her account. A summary of the accumulated stock units is as follows:

		December 31,
		2013				2012
Accumulated stock units			56,380				55,390
Average price		$	35.31			$	33.98

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