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Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2020

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, 2020
Outstanding at December 31, 2019			1,257,730			$	32.70
Options granted			137,500				51.30
Options exercised			(10,400	)			19.28
Outstanding at March 31, 2020			1,384,830				34.65			9.17 Yrs		$	(1,766	)
Exercisable at March 31, 2020			651,830				23.49			7.03 Yrs		$	6,439

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,
		2020				2019
		(Dollars in thousands)
Total intrinsic value of options exercised		$	389			$	145
Cash received from options exercised			201				156
Tax benefit realized from options exercised			99				37

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,
		2020				2019
		(Dollars in thousands)
Stock-based compensation expense		$	426			$	174
Tax benefit			109				44
Stock-based compensation expense, net of tax		$	317			$	130

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, 2020
		(Dollars in thousands)
Unearned stock-based compensation expense		$	5,626

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,
		2020				2019
Weighted average grant-date fair value per share of options granted		$	10.56			$	13.67
Risk-free interest rate		1.13%				2.62 to 2.76%
Dividend yield		2.00%				2.00%
Stock price volatility		22.84%				22.93 to 22.96%
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,
		2020				2019
Accumulated stock units			144,552				143,362
Average price		$	27.68			$	27.17

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