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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, a subsidiary of First Financial Bankshares (NASDAQ: FFIN), announced plans to construct a new 15,000 square-foot, energy-efficient office in Bryan/College Station, Texas. This state-of-the-art facility, located at 2445 Harvey Mitchell Parkway South, aims to enhance customer access and experience. Features will include a teller line, ATM, and five drive-thru lanes. The bank's Chairman, F. Scott Dueser, emphasized the strategic importance of this location, which will also house a commercial lending team and various banking services.
First Financial Bankshares, Inc. (NASDAQ: FFIN) announced a $0.15 per share cash dividend for Q2 2021, reflecting a 15.4% increase. The dividend will be payable on July 1, 2021 to shareholders of record on June 16, 2021. Additionally, shareholders re-elected eleven directors and approved key proposals during the 2021 Annual Shareholders' Meeting. CEO F. Scott Dueser emphasized the company's strong capital position and historical earnings growth as factors contributing to the dividend increase, expressing gratitude to shareholders for their support.
First Financial Bankshares, Inc. (FFIN) reported a Q1 2021 net income of $56.92 million, reflecting a 52.87% increase from $37.23 million a year prior. Diluted earnings per share rose to $0.40 from $0.26. The bank experienced an organic asset growth of $1.20 billion, primarily from loan growth and a $737.63 million increase in deposits. Net interest income reached $88.82 million, up $7.92 million, while net interest margin decreased to 3.55%. Noninterest income was $34.87 million, up from $28.73 million last year.
First Financial Bankshares, Inc. (NASDAQ: FFIN) will host its 2021 Annual Shareholders' Meeting on April 27, 2021, at 10:30 a.m. CT. This event will be live-streamed, featuring key executives including Chairman, Scott Dueser, discussing the operational and financial results for 2020 and Q1 2021. Shareholders and interested parties can access the live stream on the company's website, with a replay available after the meeting. First Financial operates numerous locations across Texas, providing a range of banking services.
First Financial Bankshares reported strong Q4 2020 earnings of $58.48 million, a 41.28% increase from Q4 2019. Total annual earnings reached $202.03 million for 2020, up 22.58%. The results include the impact of the TB&T Bancshares acquisition. Net interest income rose to $90.54 million, aided by a increase in average-earning assets. Organic asset growth was $1.9 billion. Trust assets grew to $7.51 billion, and the efficiency ratio improved to 45.49%. Shareholders' equity rose to $1.68 billion.
First Financial Bank, N.A. announced the promotion of Nora P. Thompson to President of the Bryan/College Station Region, effective January 26, 2021. This promotion enhances the bank's leadership team alongside Ivan M. Olson and Timothy N. Bryan. With over 30 years of financial services experience, Thompson has previously served as Executive Vice President and Senior Lender at The Bank and Trust of Bryan/College Station. The Board emphasizes that her leadership will be pivotal for growth in the Brazos Valley community, a key market for the bank.
The Board of Directors of First Financial Bank, N.A. has promoted Shelley Dacus to Chief Executive Officer of the Kingwood Region, succeeding Harry J. Brooks, who will depart at the end of the year. Dacus previously served as President and has over 15 years of banking experience, including leadership roles at Commercial State Bank. Chairman Scott Dueser praised her leadership and commitment to customer service. Dacus holds a finance degree from Sam Houston State University and is active in community and banking associations. The bank operates 78 locations across Texas.
First Financial Bankshares, Inc. (NASDAQ: FFIN) reported Q3 2020 earnings of $52.86 million, a 22.69% increase from $43.08 million in Q3 2019. Basic and diluted EPS rose to $0.37 versus $0.32. This growth is attributed to the TB&T Bancshares acquisition and strong PPP loan activity, totaling $703.73 million. Net interest income increased to $89.21 million, while noninterest income rose to $38.58 million. However, the provision for credit losses surged to $9 million amid economic uncertainties. Consolidated assets reached $10.57 billion, a significant rise from $8.11 billion year-over-year.
First Financial Bankshares organized its fifth annual Day of Service on October 12, 2020, engaging over 900 employees in 40 locations across Texas. The initiative involved various community service projects, including landscaping and disaster assistance. Chairman, President, and CEO Scott Dueser emphasized the importance of community support during challenging times. The company operates multiple banking regions with 78 locations in Texas and is listed on NASDAQ under the symbol FFIN.
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