First Financial Bankshares Inc - FFIN STOCK NEWS

First Financial Bank, N.A., a subsidiary of First Financial Bankshares (NASDAQ: FFIN), has opened its 79th branch in Lumberton, Texas. This new 3,300-square foot location strengthens the bank's presence in Southeast Texas, specifically extending services into Hardin County. Over the past nine years, the bank has seen significant growth in the region, bolstered by strong customer relationships. The facility features a drive-thru and ATM services, reinforcing the bank's commitment to community-oriented banking. First Financial has been a leader in banking and customer service since its Southeast Texas expansion in 2013.

First Financial Bankshares, Inc. (NASDAQ: FFIN) reported earnings of $59.34 million for Q3 2022, a slight increase from $58.93 million in Q3 2021. Diluted EPS remained at $0.41 year-over-year. Net interest income rose to $103.16 million from $95.78 million, driven by loan growth of 25.6% annualized. However, there was a $3.22 million provision for credit losses, contrasting with no provision last year. Noninterest income decreased to $30.94 million, influenced by a drop in debit card fees and mortgage revenues. Total assets reached $13.11 billion, up from $12.54 billion a year ago.

First Financial Trust & Asset Management Company, N.A. has appointed Susie Stalcup to its Board of Directors, a decision announced by Kirk W. Thaxton, Chairman, President & CEO. Stalcup brings nearly 30 years of experience in higher education philanthropy, including leadership roles at Vanderbilt University and Columbia University Medical Center. She previously served as Senior Vice President at First Financial Bank from 1983 to 1991. Stalcup's return is expected to bolster the company’s strategic growth, leveraging her extensive network and fundraising expertise.

First Financial Bankshares reported Q2 2022 earnings of $60.49 million, up from $56.38 million a year earlier. Earnings per share increased to $0.42 from $0.40. The company repurchased 244,559 shares at an average price of $38.61. Key growth metrics include $325.85 million in loan growth (23.5% annualized) and $123.16 million in deposit growth (4.49% annualized). However, there was a $6.56 million increase in provisions for credit losses.

First Financial Bankshares, Inc. (NASDAQ: FFIN) has appointed Murray H. Edwards as the new lead independent director following the retirement of Tucker S. Bridwell. Bridwell, who served since 2007, stepped down at the 2022 Annual Meeting of Shareholders. Edwards, a director since 2006 and chairman of the Directors Loan Committee, brings over 16 years of experience and significant leadership skills. He will also chair the Nominating/Corporate Governance Committee and serve on the Risk and Executive Committees, enhancing the company's governance and strategic oversight.

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.

First Financial Bankshares (NASDAQ: FFIN) reported Q1 2022 earnings of $55.97 million, a slight decrease from $56.92 million in Q1 2021. Basic and diluted earnings per share fell to $0.39 from $0.40. Major factors included a $6.78 million rise in credit loss provisions, a $4.88 million drop in PPP loan origination fees, and a $3.56 million decrease in mortgage revenues. However, net interest income rose to $95.44 million, up from $88.82 million, aided by loan growth of $214.25 million (16.07% annualized) and deposits growing by $433.34 million (16.63% annualized).

First Financial Bankshares, Inc. (NASDAQ: FFIN) will host its 2022 Annual Shareholders' Meeting on April 26, 2022, at 10:30 a.m. Central time. The event will be live-streamed, featuring F. Scott Dueser, James R. Gordon, and Kirk W. Thaxton discussing operational and financial results from 2021 and Q1 2022. Shareholders and interested parties can access the live stream via their website. The company operates 78 locations in Texas through First Financial Bank and offers services through its subsidiaries, including First Financial Trust & Asset Management.

First Financial Bankshares, Inc. (NASDAQ: FFIN) has appointed Rett Everett as the new Executive Vice President of Credit Administration. This decision, announced by Luke Longhofer, reflects the bank's commitment to enhancing its lending capabilities. Everett brings extensive experience from his previous role as Chief Credit Officer and has a solid background in commercial banking spanning over 14 years at Capital One Bank. He will oversee lending operations in the Dallas/Fort Worth areas, focusing on credit underwriting, loan decisioning, and portfolio risk management.