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Stock-Based Compensation (Tables) | 3 Months Ended
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Mar. 31, 2019
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) |
Three Months Ended March 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Outstanding at December 31, 2018 |  |  | 1,216,700 |  |  | $ | 28.48 |  |  |  |  |  |  |
Options granted |  |  | 40,000 |  |  |  | 55.38 |  |  |  |  |  |  |
Options exercised |  |  | (5,500 | ) |  |  | 28.35 |  |  |  |  |  |  |
Options canceled, forfeited, or expired |  |  | (22,500 | ) |  |  | 51.83 |  |  |  |  |  |  |
Outstanding at March 31, 2019 |  |  | 1,228,700 |  |  |  | 28.93 |  |  | 9.39 Yrs |  | $ | 28,536 |
Exercisable at March 31, 2019 |  |  | 613,700 |  |  |  | 21.78 |  |  | 6.98 Yrs |  | $ | 18,639 |
Options Exercised Under Stock Option Plan | The following table has additional information regarding options exercised under both the BancFirst ISOP and the BancFirst Directors’ Stock Option Plan:
|  | Three Months Ended March 31, |
|  | 2019 |  |  | 2018 |
|  | (Dollars in thousands) |
Total intrinsic value of options exercised |  |  | $ 145 |  |  |  | $ 2,860 |
Cash received from options exercised |  |  | 156 |  |  |  | 1,233 |
Tax benefit realized from options exercised |  |  | 37 |  |  |  | 729 |
Stock-based Employee Compensation Expense | The following table is a summary of the Company’s recorded stock-based compensation expense:
|  | Three Months Ended March 31, |
|  | 2019 |  |  | 2018 |
|  | (Dollars in thousands) |
Stock-based compensation expense |  | $ | 174 |  |  | $ | 306 |
Tax benefit |  |  | 44 |  |  |  | 78 |
Stock-based compensation expense, net of tax |  | $ | 130 |  |  | $ | 228 |
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:
|  | March 31, 2019 |
|  | (Dollars in thousands) |
Unearned stock-based compensation expense |  | $ | 3,437 |
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:
|  | Three Months Ended March 31, |
|  | 2019 |  |  | 2018 |
Weighted average grant-date fair value per share of options granted |  | $ | 13.67 |  |  | $ | 13.98 |
Risk-free interest rate |  | 2.62 to 2.76% |  |  | 2.55 to 2.92% |
Dividend yield |  | 2.00% |  |  | 2.00% |
Stock price volatility |  | 22.93 to 22.96% |  |  | 23.05 to 23.18% |
Expected term |  | 10 Yrs |  |  | 10 Yrs |
Summary of Accumulated Stock Units | A summary of the accumulated stock units is as follows:
|  | March 31, |  |  | December 31, |
|  | 2019 |  |  | 2018 |
Accumulated stock units |  |  | 137,543 |  |  |  | 143,347 |
Average price |  | $ | 25.70 |  |  | $ | 24.91 |

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