About First Financial Bankshares

First Financial Bankshares, Inc., through its subsidiaries, engages in the commercial banking business. As of December 31, 2022, the company’s wholly-owned subsidiaries were First Financial Bank, N.A.; First Technology Services, Inc., a wholly-owned subsidiary of First Financial Bank, N.A.; FB Investment Paris Fund, LLC, a wholly-owned subsidiary of First Financial Bank, N.A.; First Financial Trust & Asset Management Company, N.A.; and First Financial Insurance Agency, Inc. Through its subsidiaries, the company conducts a full-service commercial banking business. The company’s banking centers are located primarily in Central, North Central, Southeast and West Texas. The company has financial centers across Texas, with locations in Abilene, five locations in Bryan/College Station, three locations in Weatherford, locations in Cleburne, Conroe, San Angelo, Stephenville, and Granbury, and location each in Acton, Albany, Aledo, Alvarado, Beaumont, Boyd, Bridgeport, Brock, Burleson, Cisco, Clyde, Cut and Shoot, Decatur, Eastland, El Campo, Fort Worth, Fulshear, Glen Rose, Grapevine, Hereford, Huntsville, Keller, Kingwood, Lumberton, Magnolia, Mauriceville, Merkel, Midlothian, Mineral Wells, Montgomery, Moran, New Waverly, Newton, Odessa, Orange, Palacios, Port Arthur, Ranger, Rising Star, Roby, Southlake, Spring, Sweetwater, Tomball, Trent, Trophy Club, Vidor, Waxahachie, Willis and Willow Park. Additionally, the company operates mortgage loan offices in Austin and Addison, as well as Trust offices in Abilene, Beaumont, Bryan/College Station, Fort Worth, Houston, Odessa, San Angelo, San Antonio, Stephenville and Sweetwater. Even though the company operates in a growing number of Texas markets. The company has consolidated substantially all of the non-customer facing operations, such as investment securities, accounting, check processing, credit administration, risk management, treasury management, marketing, customer contact center, technology, training and human resources, which improved its efficiency and allows the regions to concentrate on serving the banking needs of their local communities. The company has chosen to keep its Company focused on the state of Texas, one of the nation’s largest, fastest-growing and most economically diverse states. The company provides management, technical resources and policy direction to its subsidiaries, which enable them to improve or expand their services while continuing their local activity and identity. Each of the company’s subsidiaries operates under the day-to-day management of its own board of directors and officers. In particular, the company assists its subsidiaries with, among other things, decisions concerning major capital expenditures, insurance, finance and accounting, strategic planning, employee benefits, including retirement plans and group medical coverage, dividend policies, and appointment of officers and directors, including advisory directors, and their compensation. The company also performs, through corporate staff groups or by outsourcing to third-parties, oversight of its subsidiaries. The company provides advice and specialized services for its bank regions related to lending, investing, purchasing, advertising, public relations, and technology services. The company evaluates various potential financial institution acquisition opportunities and recommend approval to the board for potential locations for new branch offices by the bank. The company anticipates that funding for any acquisitions or expansions would be provided from its existing cash balances, available dividends from its subsidiaries, utilization of available lines of credit, issuance of common stock to the acquired company’s shareholders and future debt or equity offerings. Services Offered by Subsidiaries The company’s subsidiary bank, First Financial Bank, N.A., is a separate legal entity that operates under the day-to-day management and oversight of its board of directors and officers. The company’s 12 banking regions, which operate under its subsidiary bank, each have separate regional advisory boards that make recommendations and provide assistance to regional management of the bank regions regarding the operations of their respective region. Each of the company’s bank regions provides general commercial banking services, which include accepting and holding checking, savings and time deposits, making loans, offering automated teller machines (ATMs), drive-in and night deposit services, safe deposit facilities, remote deposit capture, internet banking, mobile banking, payroll cards, funds transfer, and performing other customary commercial banking services. In addition, the company provides securities brokerage services through an arrangement with an unrelated third-party in its Abilene and San Angelo regions. The company also provides full-service trust and wealth management activities through its trust company, First Financial Trust & Asset Management Company, N.A. The company’s trust company has ten locations, which are all located in Texas in Abilene, Beaumont, Bryan/College Station, Fort Worth, Houston, Odessa, San Angelo, San Antonio, Stephenville and Sweetwater. Through its trust company, the company offers personal trust services, which include wealth management, the administration of estates, oil and gas management, testamentary trusts, revocable and irrevocable trusts and agency accounts. The company also administers all types of retirement and employee benefit accounts, which include 401(k) profit sharing plans and IRAs. Investment Portfolio The company’s investment portfolio consists of obligations of state and political subdivisions, mortgage pass-through securities, corporate bonds and general obligation or revenue based municipal bonds. Deposits As of December 31, 2022, the company’s deposits included noninterest-bearing deposits; and interest-bearing deposits, such as interest-bearing checking, savings and money market accounts, time deposits under $250,000 and time deposits of $250,000 or more. Supervision and Regulation The company is a financial holding company registered under the Bank Holding Company Act of 1956, as amended. As such, the company is supervised by the Board of Governors of the Federal Reserve System, as well as various other bank regulators. To continue as a financial holding company, the company must continue to be well-capitalized, well-managed and provide fair access to financial products and services. The Office of the Comptroller of the Currency supervises, regulates, and regularly examines various subsidiaries, such as First Financial Bank, N.A.; First Financial Trust & Asset Management Company, N.A.; First Technology Services, Inc. (a wholly-owned subsidiary of First Financial Bank, N.A.); and FB Investment Paris Fund, LLC (a wholly-owned subsidiary of First Financial Bank, N.A.). The company’s subsidiary bank is a member of the Federal Deposit Insurance Corporation. The authority of the company’s subsidiary bank to extend credit to its directors, executive officers and principal shareholders, including their immediate family members, corporations and other entities that they control, is subject to substantial restrictions and requirements under Sections 22(g) and 22(h) of the Federal Reserve Act and Regulation O promulgated thereunder, as well as the Sarbanes-Oxley Act of 2002. Furthermore, the company’s subsidiary bank must periodically report all loans made to directors and other insiders to the bank regulators, and these loans are scrutinized by the regulators for compliance with Sections 22(g) and 22(h) of the Federal Reserve Act and Regulation O. Under the Bank Secrecy Act, the company is required to monitor and report unusual or suspicious account activity that might signify money laundering, tax evasion or other criminal activities, as well as transactions involving the transfer or withdrawal of amounts in excess of prescribed limits. Under the regulations of the Office of Foreign Asset Control (OFAC), the company is required to monitor and block transactions with certain ‘specially designated nationals’ who OFAC has determined pose a risk to the U.S. national security. The company is also subject to certain federal and state consumer laws and regulations that are designed to protect consumers in transactions with banks. These laws and regulations include the Truth in Lending Act, the Truth in Savings Act, the Electronic Funds Transfer Act, the Expedited Funds Availability Act, the Equal Credit Opportunity Act, the Fair and Accurate Credit Transactions Act, the Real Estate Settlement Procedures Act, and the Fair Housing Act, among others. Given the bank has exceeded $10 billion in assets, the bank is subject to regulation by the Consumer Financial Protection Bureau. The company continues to review actively the provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act and assess its probable impact on its business, financial condition, and results of operations. History First Financial Bankshares, Inc. was founded in 1890. The company was incorporated in 1956.

Country
Industry:
Commercial banks
Founded:
1890
IPO Date:
11/01/1993
ISIN Number:
I_US32020R1095
Address:
400 Pine Street, Abilene, Texas, 79601, United States
Phone Number
325 627 7155

Key Executives

CEO:
Dueser, F.
CFO
Hickox, Michelle
COO:
Data Unavailable