First Financial Bankshares Names Dan Summerford EVP, Director of Middle Market Banking

Rhea-AI Summary

First Financial Bankshares (NASDAQ: FFIN) has appointed Dan Summerford as Executive Vice President, Director of Middle Market Banking. This strategic hire aims to bolster the Bank's commercial banking division. Summerford, who began his career in 1994, brings extensive experience from his previous roles, including Managing Director, Head of Houston Commercial Banking at East West Bank. His expertise is expected to foster long-lasting, profitable relationships for the Bank. Summerford also boasts a strong community involvement, having served on various boards and councils in Southeast Texas.

Positive

• Dan Summerford's extensive experience in corporate and middle market banking is a significant asset.
• The appointment is expected to strengthen First Financial Bankshares' commercial banking division.
• Summerford's leadership could help establish long-lasting, profitable relationships for the Bank.
• His community involvement may enhance the Bank's public relations and community connections.

Negative

• No immediate financial impact or quantifiable short-term gains were mentioned in the announcement.

ABILENE, Texas, June 13, 2024 /PRNewswire/ -- First Financial Bankshares, Inc. (NASDAQ: FFIN) has named Dan Summerford as Executive Vice President, Director of Middle Market Banking.  This bank wide position brings in a seasoned veteran from the corporate banking sector to provide further guidance and leadership for the Bank's commercial banking division.

"We are excited to welcome Dan to our company as he brings a wealth of expertise that will greatly enhance our existing commercial banking team.  His years of leadership with previous institutions will be invaluable as we look to strengthen our corporate banking efforts, which continues to bring in long-lasting profitable relationships to the Bank." said David Bailey, Chief Banking Officer of First Financial.

Summerford joins the Bank after most recently serving as Managing Director, Head of Houston Commercial Banking for East West Bank.  He began his banking career in 1994 with Wells Fargo Bank and over the past 30 years, has held several senior and executive management positions over corporate and middle market banking with various financial institutions, primarily in the Southeast Texas market.

In addition to his contributions to banking, Dan has also been an active member of the community, most recently serving on the Board of Trustees of the Cypress Fairbanks Educational Foundation and as a board member of the Katy (West Houston) Area Economic Development Council.  He holds a bachelor's degree from Texas Tech University and is a graduate of the Western States School of Banking at the University of New Mexico.

About First Financial Bankshares, Inc.

Headquartered in Abilene, Texas, First Financial Bankshares, Inc. is a financial holding company that through its wholly-owned subsidiary, First Financial Bank, operates multiple banking regions with 79 locations in Texas, including Abilene, Acton, Albany, Aledo, Alvarado, Beaumont, Boyd, Bridgeport, Brock, Bryan, Burleson, College Station, Cisco, Cleburne, Clyde, Conroe, Cut and Shoot, Decatur, Eastland, El Campo, Fort Worth, Franklin, Fulshear, Glen Rose, Granbury, Grapevine, Hereford, Huntsville, Lumberton, 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 and Asset Management Company, with nine 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, please visit our website at http://www.ffin.com.

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SOURCE First Financial Bankshares, Inc.

FAQ

Who is the new Director of Middle Market Banking at First Financial Bankshares?

Dan Summerford has been named the new Executive Vice President, Director of Middle Market Banking at First Financial Bankshares.

What is Dan Summerford's previous experience?

Dan Summerford has over 30 years of experience in corporate and middle market banking, most recently serving as Managing Director, Head of Houston Commercial Banking at East West Bank.

How will Dan Summerford's appointment affect First Financial Bankshares?

Dan Summerford's appointment is expected to bolster the Bank's commercial banking division and foster long-lasting, profitable relationships.

When was Dan Summerford appointed as EVP at First Financial Bankshares?

Dan Summerford was appointed as Executive Vice President, Director of Middle Market Banking on June 13, 2024.

What community roles has Dan Summerford held?

Dan Summerford has served on the Board of Trustees of the Cypress Fairbanks Educational Foundation and as a board member of the Katy (West Houston) Area Economic Development Council.