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Stock-Based Compensation (Tables)

9 Months Ended

Sep. 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)
Nine Months Ended September 30, 2018
Outstanding at December 31, 2017			1,273,625			$	25.90
Options granted			57,000				57.71
Options exercised			(118,425	)			17.37
Options canceled, forfeited, or expired			(5,000	)			48.02
Outstanding at September 30, 2018			1,207,200				28.14			9.70 Yrs		$	38,399
Exercisable at September 30, 2018			530,200				21.15			7.05 Yrs		$	20,574

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,
		2018				2017				2018				2017
		(Dollars in thousands except per share data)
Weighted average grant-date fair value per share of options granted		$	16.49			$	11.63			$	14.93			$	11.21
Total intrinsic value of options exercised			766				1,493				4,593				7,138
Cash received from options exercised			413				856				2,057				4,113
Tax benefit realized from options exercised			195				578				1,170				2,761

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,
		2018				2017				2018				2017
		(Dollars in thousands)
Stock-based compensation expense		$	353			$	354			$	981			$	819
Tax benefit			90				137				250				317
Stock-based compensation expense, net of tax		$	263			$	217			$	731			$	502

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:

		September 30, 2018
		(Dollars in thousands)
Unearned stock-based compensation expense		$	3,350

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:

		Nine Months Ended September 30,
		2018		2017
Risk-free interest rate		2.55 to 3.05%		2.15 to 2.38%
Dividend yield		2.00%		2.00%
Stock price volatility		23.05 to 23.46%		22.57 to 23.53%
Expected term		10 Yrs		10 Yrs

Summary of Accumulated Stock Units

A summary of the accumulated stock units is as follows:

		September 30,				December 31,
		2018				2017
Accumulated stock units			140,946				138,768
Average price		$	24.36			$	22.84

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Tabular disclosure of the amount of total share-based compensation cost, including the amounts attributable to each share-based compensation plan and any related tax benefits.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
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