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Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2018

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, 2018
Outstanding at December 31, 2017		1,273,625		$	25.90
Options granted		34,500			54.68
Options exercised		(99,950	)		16.45
Options canceled, forfeited, or expired		(5,000	)		48.02
Outstanding at June 30, 2018		1,203,175			27.41	9.83 Yrs	$	38,244
Exercisable at June 30, 2018		542,925			21.17	7.32 Yrs	$	20,648

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,
	2018		2017		2018		2017
	(Dollars in thousands except per share data)
Weighted average grant-date fair value per share of options granted	$	14.12	$	10.96	$	13.98	$	10.96
Total intrinsic value of options exercised		967		1,032		3,827		5,645
Cash received from options exercised		411		647		1,644		3,257
Tax benefit realized from options exercised		246		399		975		2,183

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,
	2018		2017		2018		2017
	(Dollars in thousands)
Stock-based compensation expense	$	322	$	243	$	628	$	465
Tax benefit		82		109		160		180
Stock-based compensation expense, net of tax	$	240	$	134	$	468	$	285

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, 2018
	(Dollars in thousands)
Unearned stock-based compensation expense	$	3,216

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,
	2018	2017
Risk-free interest rate	2.55 to 2.92%	2.15 to 2.38%
Dividend yield	2.00%	2.00%
Stock price volatility	23.05 to 23.29%	22.57 to 23.13%
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,
	2018		2017
Accumulated stock units		139,114		138,768
Average price	$	23.87	$	22.84