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Stock-Based Compensation (Tables) | 6 Months Ended
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Jun. 30, 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) |
Six Months Ended June 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Outstanding at December 31, 2019 |  |  | 1,257,730 |  |  | $ | 32.70 |  |  |  |  |  |  |
Options granted |  |  | 157,500 |  |  |  | 49.32 |  |  |  |  |  |  |
Options exercised |  |  | (26,400 | ) |  |  | 19.07 |  |  |  |  |  |  |
Options canceled, forfeited, or expired |  |  | (135,000 | ) |  |  | 51.56 |  |  |  |  |  |  |
Outstanding at June 30, 2020 |  |  | 1,253,830 |  |  |  | 33.04 |  |  | 8.93 Yrs |  | $ | 9,440 |
Exercisable at June 30, 2020 |  |  | 697,330 |  |  |  | 24.13 |  |  | 7.12 Yrs |  | $ | 11,461 |
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 June 30, |  |  | Six Months Ended June 30, |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
|  | (Dollars in thousands) |  |  | (Dollars in thousands) |
Total intrinsic value of options exercised |  | $ | 337 |  |  | $ | 759 |  |  | $ | 726 |  |  | $ | 904 |
Cash received from options exercised |  |  | 303 |  |  |  | 455 |  |  |  | 504 |  |  |  | 611 |
Tax benefit realized from options exercised |  |  | 86 |  |  |  | 193 |  |  |  | 185 |  |  |  | 230 |
Stock-based Employee Compensation Expense | The following table is a summary of the Company’s recorded stock-based compensation expense:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
|  | (Dollars in thousands) |  |  | (Dollars in thousands) |
Stock-based compensation expense |  | $ | 406 |  |  | $ | 367 |  |  | $ | 832 |  |  | $ | 541 |
Tax benefit |  |  | 103 |  |  |  | 94 |  |  |  | 212 |  |  |  | 138 |
Stock-based compensation expense, net of tax |  | $ | 303 |  |  | $ | 273 |  |  | $ | 620 |  |  | $ | 403 |
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:
|  | June 30, 2020 |
|  | (Dollars in thousands) |
Unearned stock-based compensation expense |  | $ | 4,128 |
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:
|  | Six Months Ended June 30, |
|  | 2020 |  |  | 2019 |
Weighted average grant-date fair value per share of options granted |  | $ | 10.63 |  |  | $ | 13.67 |
Risk-free interest rate |  | 0.66 to 1.13% |  |  | 2.62 to 2.76% |
Dividend yield |  | 2.00% |  |  | 2.00% |
Stock price volatility |  | 22.84 to 33.56% |  |  | 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:
|  | June 30, |  |  | December 31, |
|  | 2020 |  |  | 2019 |
Accumulated stock units |  |  | 148,550 |  |  |  | 143,362 |
Average price |  | $ | 27.85 |  |  | $ | 27.17 |

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