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Stockholders' Equity | 9 Months Ended
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Sep. 30, 2019
Equity [Abstract] |
Stockholders' Equity |
(8) | STOCKHOLDERS’ EQUITY
In November 1999, the Company adopted a Stock Repurchase Program (the “SRP”). The SRP may be used as a means to increase earnings per share and return on equity, to purchase treasury stock for the exercise of stock options or for distributions under the Deferred Stock Compensation Plan, to provide liquidity for optionees to dispose of stock from exercises of their stock options, and to provide liquidity for stockholders wishing to sell their stock. All shares repurchased under the SRP have been retired and not held as treasury stock. The timing, price and amount of stock repurchases under the SRP may be determined by management and approved by the Company’s Executive Committee. The following table is a summary of the shares under the program:
|  | Nine Months Ended September 30, |
|  | 2019 |  |  | 2018 |
Number of shares repurchased |  |  | — |  |  |  | — |
Average price of shares repurchased |  | $ | — |  |  | $ | — |
Shares remaining to be repurchased |  |  | 148,736 |  |  |  | 300,000 |
The Company, BancFirst and Pegasus Bank are subject to risk-based capital guidelines issued by the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation (“FDIC”). These guidelines are used to evaluate capital adequacy and involve both quantitative and qualitative evaluations of the Company’s and BancFirst’s assets, liabilities and certain off-balance-sheet items calculated under regulatory practices. Failure to meet the minimum capital requirements can initiate certain mandatory or discretionary actions by the regulatory agencies that could have a direct material effect on the Company’s financial statements. Management believes that as of September 30, 2019, the Company, BancFirst and Pegasus Bank met all capital adequacy requirements to which they are subject. The actual and required capital amounts and ratios are shown in the following table:
|  |  |  |  |  |  |  |  |  | Required |  |  |  |  |  | To Be Well |
|  |  |  |  |  |  |  |  |  | For Capital |  |  | With |  |  | Capitalized Under |
|  |  |  |  |  |  |  |  |  | Adequacy |  |  | Capital Conservation |  |  | Prompt Corrective |
|  | Actual |  |  | Purposes |  |  | Buffer |  |  | Action Provisions |
|  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |
|  | (Dollars in thousands) |
As of September 30, 2019: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total Capital |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(to Risk Weighted Assets)- |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
BancFirst Corporation |  | $ | 887,070 |  |  | 14.34% |  |  | $ | 494,966 |  |  | 8.00% |  |  | $ | 649,643 |  |  | 10.50% |  |  | N/A |  |  | N/A |
BancFirst |  |  | 812,703 |  |  | 14.12% |  |  |  | 460,315 |  |  | 8.00% |  |  |  | 604,164 |  |  | 10.50% |  |  | $ | 575,394 |  |  | 10.00% |
Pegasus Bank |  |  | 55,783 |  |  | 13.38% |  |  |  | 33,359 |  |  | 8.00% |  |  |  | 43,784 |  |  | 10.50% |  |  |  | 41,699 |  |  | 10.00% |
Common Equity Tier 1 Capital |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(to Risk Weighted Assets)- |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
BancFirst Corporation |  | $ | 805,142 |  |  | 13.01% |  |  | $ | 278,418 |  |  | 4.50% |  |  | $ | 433,095 |  |  | 7.00% |  |  | N/A |  |  | N/A |
BancFirst |  |  | 736,839 |  |  | 12.81% |  |  |  | 258,927 |  |  | 4.50% |  |  |  | 402,776 |  |  | 7.00% |  |  | $ | 374,006 |  |  | 6.50% |
Pegasus Bank |  |  | 52,286 |  |  | 12.54% |  |  |  | 18,765 |  |  | 4.50% |  |  |  | 29,190 |  |  | 7.00% |  |  |  | 27,105 |  |  | 6.50% |
Tier 1 Capital |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(to Risk Weighted Assets)- |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
BancFirst Corporation |  | $ | 831,142 |  |  | 13.43% |  |  | $ | 371,225 |  |  | 6.00% |  |  | $ | 525,901 |  |  | 8.50% |  |  | N/A |  |  | N/A |
BancFirst |  |  | 756,839 |  |  | 13.15% |  |  |  | 345,236 |  |  | 6.00% |  |  |  | 489,085 |  |  | 8.50% |  |  | $ | 460,315 |  |  | 8.00% |
Pegasus Bank |  |  | 52,286 |  |  | 12.54% |  |  |  | 25,020 |  |  | 6.00% |  |  |  | 35,444 |  |  | 8.50% |  |  |  | 33,359 |  |  | 8.00% |
Tier 1 Capital |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(to Total Assets)- |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
BancFirst Corporation |  | $ | 831,142 |  |  | 10.59% |  |  | $ | 314,007 |  |  | 4.00% |  |  | N/A |  |  | N/A |  |  | N/A |  |  | N/A |
BancFirst |  |  | 756,839 |  |  | 10.06% |  |  |  | 300,900 |  |  | 4.00% |  |  | N/A |  |  | N/A |  |  | $ | 376,124 |  |  | 5.00% |
Pegasus Bank |  |  | 52,286 |  |  | 7.71% |  |  |  | 27,139 |  |  | 4.00% |  |  | N/A |  |  | N/A |  |  |  | 33,924 |  |  | 5.00% |
As of September 30, 2019, the most recent notification from the Federal Reserve Bank of Kansas City and the FDIC categorized BancFirst and Pegasus Bank as “well capitalized” under the prompt corrective action provisions. The Company’s trust preferred securities have continued to be included in Tier 1 capital, as the Company’s total assets do not exceed $15 billion. There are no conditions or events since the most recent notifications of BancFirst or Pegasus Bank’s capital category that management believes would materially change its category under capital requirements existing as of the report date.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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