ABILENE,
Texas, April 23, 2024 /PRNewswire/ -- First
Financial Bankshares, Inc. (NASDAQ: FFIN) – today announced at it's
2024 Annual Shareholders' Meeting that its subsidiaries, First
Financial Bank, N.A. (the "Bank") and First Financial Trust and
Asset Management Company, N.A. (the "Trust Company"), have each
successfully converted their charters to a Texas state banking association and a
Texas chartered trust company,
respectively. The Bank has been a national bank since its inception
in 1890 and the Trust Company has been a national trust company
since its inception in 2003.
"We will continue to put the customer First and to operate under
our One Bank, Twelve Regions
Concept," said F. Scott Dueser,
Chairman, President and CEO of First Financial. "We think the
charter conversions make the most sense for the Company and its
shareholders moving forward and we are excited to be true
Texas entities. We expect the
conversions will lead to better communication with our regulators,"
added Mr. Dueser.
The conversions were successfully completed on April 22, 2024, and the Bank is now a
Texas banking association
chartered and regulated by the Texas Department of Banking and the
Trust Company is now a Texas trust
company chartered and regulated by the Texas Department of Banking.
The Bank will continue to be a member bank of the Federal Reserve
System and maintain FDIC deposit insurance.
At the Annual Shareholders' Meeting, shareholders elected eleven
existing members to the Board of Directors. The elected directors
are April Anthony, CEO of
VitalCaring Group and 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, former 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. Shareholders also
ratified the Board's selection of Ernst & Young LLP as the
Company's independent auditors and approved the advisory vote on
compensation of named executive officers.
"We appreciate all of our shareholders that attended the annual
meeting both in person and via live webcast. We are pleased that
there was overwhelming support to reelect the Board of Directors,
ratify the Company's auditors and approve the proposal on executive
compensation," concluded Mr. Dueser.
About First Financial Bankshares, Inc.
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 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, N.A., 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 https://www.ffin.com.
Certain statements contained herein may be considered
"forward-looking statements" as defined in the Private Securities
Litigation Reform Act of 1995. These statements are based upon the
belief of the Company's management, as well as assumptions made
beyond information currently available to the Company's management,
and may be, but not necessarily are, identified by such words as
"expect," "plan," "anticipate," "target," "forecast," "project,"
and "goal." Because such "forward-looking statements" are subject
to risks and uncertainties, actual results may differ materially
from those expressed or implied by such forward-looking statements.
Factors that could cause actual results to differ materially from
the Company's expectations include competition from other financial
institutions and financial holding companies; the effects of and
changes in trade, monetary and fiscal policies and laws, including
interest rate policies of the Federal Reserve Board; economic
impact of oil and gas prices, changes in the demand for loans;
fluctuations in value of collateral and loan reserves; inflation,
interest rate, market and monetary fluctuations; changes in
consumer spending, borrowing and savings habits; and
acquisitions and integration of acquired businesses, and similar
variables. Other key risks are described in the
Company's reports filed with the Securities and Exchange
Commission, which may be obtained under "Investor
Relations-Documents and Filings" on the Company's Website or by
writing or calling the Company at 325.627.7155. Except as otherwise
stated in this news announcement, the Company does not undertake
any obligation to update publicly or revise any forward-looking
statements because of new information, future events or
otherwise.
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SOURCE First Financial Bankshares, Inc.