Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2014

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, 2014
Outstanding at December 31, 2013		1,158,317		$	34.45
Options granted		44,000			61.78
Options exercised		(169,535	)		28.73
Options canceled, forfeited, or expired		(3,125	)		36.73
Outstanding at December 31, 2014		1,029,657			36.55		8.59	Yrs	$	27,638
Exercisable at December 31, 2014		492,557			29.84		5.15	Yrs	$	16,525
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		8.84	Yrs	$	25,034
Exercisable at December 31, 2013		561,167			27.95		6.70	Yrs	$	15,774

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,
	2014		2013		2012
	(Dollars in thousands, except per share data)
Weighted average grant-date fair value per share of options granted	$	12.27	$	10.88	$	8.82
Total intrinsic value of options exercised		5,597		3,723		3,297
Cash received from options exercised		4,870		3,846		2,227
Tax benefit realized from options exercised		2,165		1,440		1,275

Stock-based Employee Compensation Expense

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

	Year Ended December 31,
	2014		2013		2012
	(Dollars in thousands)
Stock-based compensation expense	$	1,676	$	1,360	$	1,530
Tax benefit		648		526		592
Stock-based compensation expense, net of tax	$	1,028	$	834	$	938

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, 2014
	(Dollars in thousands)
Fair value of stock options	$	4,215

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,

2014

2013

2012

Risk-free interest rate

2.10 % to 2.54%

1.95% to 3.15%

1.74% to 1.95%

Dividend yield

2.00%

Stock price volatility

18.03% to 18.98%

18.35% to 20.21%

21.71% to 38.75%

Expected term

10Yrs

Summary of Accumulated Stock Units

A summary of the accumulated stock units is as follows:

	December 31,
	2014		2013
Accumulated stock units		60,859		56,380
Average price	$	37.41	$	35.31