FIRST FINANCIAL ANNOUNCES BOARD ELECTION AND INCREASED DIVIDEND AT ANNUAL MEETING

Rhea-AI Summary

First Financial Bankshares, Inc. (NASDAQ: FFIN) declared a $0.17 per share cash dividend for Q2 2022, marking a 13.3% increase. This dividend will be payable on July 1, 2022, to shareholders of record on June 16, 2022. Eleven existing board members were re-elected at the Annual Shareholders' Meeting, with recognition given to retiring board member Tucker S. Bridwell. Shareholders also approved executive compensation and ratified the appointment of Ernst & Young as independent auditors. Chairman Scott Dueser highlighted the company's strong capital position and earnings growth.

Positive

• Dividend increase of 13.3% to $0.17 per share, rewarding shareholders.
• Strong capital position indicating potential for continued growth.

Negative

• None.

ABILENE, Texas, April 26, 2022 /PRNewswire/ -- First Financial Bankshares, Inc. (NASDAQ: FFIN) – In connection with the 2022 Annual Shareholders' Meeting, the Board of Directors of First Financial Bankshares, Inc. today declared a $0.17 per share cash dividend for the second quarter, which represents a 13.3 percent increase and will be paid to shareholders of record on June 16, 2022, with payment set for July 1, 2022.

Shareholders elected eleven existing members to the Board of Directors. The elected directors are April Anthony, Managing Partner, Anthony Family Investment Partners, LTD, Dallas; Vianei Lopez Braun, Attorney,  Decker Jones, P.C., Fort Worth; David Copeland, President, SIPCO, Inc., and Shelton Family Foundation, Abilene; Mike Denny, President of Batjer and Associates, Inc., Abilene; Scott Dueser, Chairman, President and CEO of First Financial Bankshares, Abilene; Murray Edwards, Principal, The Edwards Group, Clyde; Eli Jones, Ph.D., Professor, Texas A&M University Mays School of Business, Bryan/College Station; Tim Lancaster, retired President and CEO of Hendrick Health System, Lubbock; Kade Matthews, ranching and investments, Amarillo; Robert Nickles, Jr., Executive Chairman of Alegacy Group, LLC, Houston; and Johnny E. Trotter, President and CEO, Livestock Investors, Ltd., Hereford.

Tucker S. Bridwell, President of Mansfeldt Investment Corporation and the Dian Graves Owen Foundation, Abilene, who retired from the board of directors after 14 years of service, was recognized for his longtime leadership on the board.

In other business, shareholders approved the advisory vote on compensation for named executive officers and ratified the Audit Committees' appointment of Ernst & Young, LLP as the Company's independent auditors.

"Due to our strong capital position and historical increases in earnings, we are pleased to announce the increase in our quarterly cash dividend for our shareholders," said F. Scott Dueser, Chairman, President and CEO.  "We are also grateful to our shareholders for the election of our directors and the passage of these proposals."

About First Financial Bankshares

Headquartered in Abilene, Texas, First Financial Bankshares, Inc. is a financial holding company that through its subsidiary, First Financial Bank, N.A., operates multiple banking regions with 78 locations in Texas, including Abilene, Acton, Albany, Aledo, Alvarado, Beaumont, Boyd, Bridgeport, Brock, Bryan, Burleson, Cisco, Cleburne, Clyde, College Station, Conroe, Cut and Shoot, Decatur, Eastland, El Campo, Fort Worth, Fulshear, Glen Rose, Granbury, Grapevine, Hereford, Huntsville, Keller, Kingwood, Magnolia, Mauriceville, Merkel, Midlothian, Mineral Wells, Montgomery, Moran, New Waverly, Newton, Odessa, Orange, Palacios, Port Arthur, Ranger, Rising Star, Roby,  San  Angelo,  Southlake, Spring, Stephenville, Sweetwater, Tomball, Trent, Trophy Club, Vidor, Waxahachie, Weatherford, Willis, and Willow Park. The Company also operates First Financial Trust & Asset Management Company, N.A., with ten locations and First Technology Services, Inc., a technology operating company.

The Company is listed on The NASDAQ Global Select Market under the trading symbol FFIN.  For more information about First Financial Bankshares, please visit our website at http://www.ffin.com.

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SOURCE First Financial Bankshares, Inc.

FAQ

What is the new dividend amount for First Financial Bankshares (FFIN)?

The new dividend amount for First Financial Bankshares (FFIN) is $0.17 per share.

When will the dividend for FFIN be paid?

The dividend will be paid on July 1, 2022.

What is the record date for the dividend payment of FFIN?

The record date for the dividend payment is June 16, 2022.

Who were elected to the Board of Directors for FFIN?

Eleven existing members were re-elected to the Board of Directors.

What decisions were made at the Annual Shareholders' Meeting for FFIN?

Shareholders approved executive compensation and ratified Ernst & Young as the Company's independent auditors.