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Stock-Based Compensation (Tables) | 9 Months Ended
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Sep. 30, 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) |
Nine Months Ended September 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Outstanding at December 31, 2018 |  |  | 1,216,700 |  |  | $ | 28.48 |  |  |  |  |  |  |
Options granted |  |  | 95,000 |  |  |  | 55.63 |  |  |  |  |  |  |
Options exercised |  |  | (30,550 | ) |  |  | 23.24 |  |  |  |  |  |  |
Options canceled, forfeited, or expired |  |  | (22,500 | ) |  |  | 51.83 |  |  |  |  |  |  |
Outstanding at September 30, 2019 |  |  | 1,258,650 |  |  |  | 30.24 |  |  | 9.21 Yrs |  | $ | 31,698 |
Exercisable at September 30, 2019 |  |  | 652,150 |  |  |  | 22.53 |  |  | 6.86 Yrs |  | $ | 21,451 |
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 September 30, |  |  | Nine Months Ended September 30, |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
|  | (Dollars in thousands) |  |  | (Dollars in thousands) |
Total intrinsic value of options exercised |  | $ | 87 |  |  | $ | 766 |  |  | $ | 991 |  |  | $ | 4,593 |
Cash received from options exercised |  |  | 99 |  |  |  | 413 |  |  |  | 710 |  |  |  | 2,057 |
Tax benefit realized from options exercised |  |  | 22 |  |  |  | 195 |  |  |  | 252 |  |  |  | 1,170 |
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, |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
|  | (Dollars in thousands) |  |  | (Dollars in thousands) |
Stock-based compensation expense |  | $ | 347 |  |  | $ | 353 |  |  | $ | 888 |  |  | $ | 981 |
Tax benefit |  |  | 88 |  |  |  | 90 |  |  |  | 226 |  |  |  | 250 |
Stock-based compensation expense, net of tax |  | $ | 259 |  |  | $ | 263 |  |  | $ | 662 |  |  | $ | 731 |
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, 2019 |
|  | (Dollars in thousands) |
Unearned stock-based compensation expense |  | $ | 3,676 |
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, |
|  | 2019 |  |  | 2018 |
Weighted average grant-date fair value per share of options granted |  | $ | 13.31 |  |  | $ | 14.93 |
Risk-free interest rate |  | 1.55 to 2.76% |  |  | 2.55 to 3.05% |
Dividend yield |  | 2.00% |  |  | 2.00% |
Stock price volatility |  | 22.93 to 23.63% |  |  | 23.05 to 23.46% |
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, |
|  | 2019 |  |  | 2018 |
Accumulated stock units |  |  | 141,086 |  |  |  | 143,347 |
Average price |  | $ | 26.68 |  |  | $ | 24.91 |

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