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First Financial Bankshares, Inc. (NASDAQ: FFIN) is a prominent financial holding company headquartered in Abilene, Texas. It operates mainly through its wholly-owned subsidiary, First Financial Bank, N.A., which provides full-service commercial banking across Texas through over 70 regional locations, spanning from the Panhandle to Southeast Texas.
With a rich history that dates back 125 years, First Financial Bankshares has established itself as one of the nation's most financially secure institutions with assets totaling $6.47 billion. The company’s core business is community banking, offering a wide range of services including commercial banking, trust and asset management, and technology services through its subsidiaries, such as First Financial Trust and Asset Management Company, N.A., and First Technology Services, Inc.
Noteworthy achievements include the recent successful conversion of First Financial Bank and First Financial Trust and Asset Management Company charters to Texas state banking associations, which is expected to enhance communication with regulators and reduce examination fees. The company has also shown resilience in challenging economic times, maintaining strong capital levels and liquidity, which has enabled it to attract new loan and deposit customers at favorable terms.
First Financial Bankshares prides itself on exceptional customer service and a community-focused approach, combining the benefits of a large bank with the personalized service of a local bank. Its diverse loan portfolio includes segments such as Commercial and Industrial loans, Municipal, Agricultural, Construction and Development, and various types of Real Estate loans. In addition to banking, the company supports community projects, such as the $5.5 million investment in the Landmark at Abilene senior housing project.
Financially, First Financial Bankshares reported earnings of $53.40 million for the first quarter of 2024, showing resilience amid economic fluctuations. The company has a diversified deposit base, strong regulatory capital ratios, and access to multiple liquidity sources.
First Financial Bank, N.A. has appointed Jamie Esch as Chairman and CEO of its Hereford Region, enhancing its leadership team. According to Ron Butler, Chief Administrative Officer, Esch's extensive banking experience will strengthen the bank's presence in the Panhandle. Esch, a local native, has a solid background, previously serving as Senior VP at Happy State Bank, where he oversaw private banking and commercial portfolios. His appointment is expected to enhance customer service within the region.
First Financial Bank, N.A. has appointed Shelby Bruhn as the new President and CEO of the Southlake Region, succeeding Mark Jones. The announcement was made by Ron Butler, Chief Administrative Officer. Bruhn has a strong background in banking, previously serving in executive roles at Valliance Bank and other financial institutions. His experience in the Southlake and Tarrant County markets is expected to contribute to the bank's growth. First Financial Bank operates multiple regions in Texas, with a solid foundation for continued success.
The Board of Directors of First Financial Bankshares has promoted J. Kyle McVey to Executive Vice President, Chief Accounting Officer. This decision was announced by CEO F. Scott Dueser, highlighting McVey's critical role in financial reporting, budgeting, audits, and investor relations. McVey, who joined the company in 2011, has contributed significantly to enhancing customer service culture and community initiatives. He holds degrees in accounting and finance, is a licensed CPA, and has received multiple academic honors.
First Financial Bankshares has promoted Luke Longhofer to Executive Vice President and Chief Lending Officer, succeeding Gary Gragg, who retired after 31 years. Longhofer has served as Chief Credit Officer and has significantly contributed to the bank's growth, including overseeing over $1 billion in PPP and Main Street Lending Programs. With over a decade of experience at the bank, he is positioned to strengthen its lending strategy. The company operates 78 locations across Texas and is traded on NASDAQ under FFIN.
First Financial Bankshares, Inc. (NASDAQ: FFIN) reported a Q4 2021 net income of $55.34 million, a decrease from $58.48 million a year earlier, with EPS dropping to $0.39 from $0.41. For the year 2021, earnings increased to $227.56 million, or 12.64% growth year-over-year. The bank saw a significant increase in deposits, up $1.89 billion (21.79%) and loans up 13.84% after excluding PPP loans. Net interest income rose to $94.81 million. However, its net interest margin declined to 3.29% from 3.75% in Q4 2020.
First Financial Bankshares has appointed Eli Jones, Ph.D., to its Board of Directors, enhancing its governance. With extensive experience in higher education and public companies, Jones will also join the First Financial Bank, N.A. Board. His tenure includes prominent roles at Texas A&M University and other institutions. Chairman Scott Dueser expressed confidence in Jones’s expertise in marketing and sales culture, anticipating a positive influence on the company's strategic direction.
The Fort Worth Regional Board of First Financial Bank has elected Vianei Braun as chair of the regional board of directors. Braun has been a dedicated advocate for the bank since 1998, serving as its employment attorney for 24 years. She is recognized for her expertise in labor and employment law and brings extensive experience to the role. Former chairman Murray Edwards praised her as a rising star who will introduce new ideas and direction. First Financial Bankshares, Inc. operates multiple banking locations across Texas and is listed on NASDAQ under the ticker FFIN.
First Financial Bank, N.A. has promoted David Bailey to Executive Vice President for Commercial Banking. This newly created role aims to enhance the bank's commercial loan portfolio as it grows. Bailey, who has been with the bank for 18 years, will oversee the commercial banking operations and work with regional presidents on business development and partnership strategies. Chairman Scott Dueser praised Bailey's career growth and impact on bank success. The bank, headquartered in Abilene, Texas, operates numerous locations across the state and is listed on NASDAQ under the symbol FFIN.
First Financial Bankshares, Inc. (FFIN) reported Q3 2021 earnings of $58.93 million, up from $52.86 million YoY. This equates to earnings per share (EPS) of $0.41, compared to $0.37 the previous year. Net interest income rose to $95.78 million, driven by organic growth, with net loan growth of $162.95 million excluding PPP loans. Customer deposits increased by $111.42 million. While noninterest expenses rose to $62.94 million, the efficiency ratio was 45.88%. Total assets grew to $12.54 billion as of September 30, 2021.
First Financial Bank, N.A. has appointed Chris Baughman as President of the Conroe Region, succeeding Sam Baker, who will retire in March 2022. Baughman, with over a decade at First Financial, has a track record in commercial, real estate, and consumer lending, managing a loan portfolio of $98 million. His extensive experience in banking is expected to enhance the bank's presence in Conroe. Baughman expressed gratitude for his new role and aims to build upon Baker's legacy.
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