First Financial Bankshares, Inc., First Financial Bank, and First Financial Trust and Asset Management Company Announce Promotions
Rhea-AI Summary
First Financial Bankshares (NASDAQ: FFIN) has announced several key leadership promotions effective January 1, 2025. Ron Butler has been promoted to Vice Chairman of the Executive Management Committee, while David Bailey becomes President of First Financial Bankshares and First Financial Bank. Lon Biebighauser has been elected President of First Financial Trust and Asset Management Company, replacing Kirk Thaxton who transitions to relationship manager. Marelyn Shedd becomes the first female CEO of the Abilene Region, and Marshall Morris has been elected as President of the Abilene Region. These changes are part of the company's ongoing management succession plan.
Positive
- First Financial Trust and Asset Management Company has grown to over $11 billion in assets with 9 offices across Texas
- Demonstrates strong internal succession planning with experienced leaders
Negative
- None.
News Market Reaction
On the day this news was published, FFIN gained 1.99%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Ron Butler was promoted to Vice Chairman of the Executive Management Committee of First Financial Bankshares, Inc., and will continue to serve as Chief Administrative Officer of the Company.
David Bailey has been promoted to President of First Financial Bankshares, Inc., and First Financial Bank, a position previously held by F. Scott Dueser, who will continue to serve as Chief Executive Officer and Chairman of the Board of both entities.
The First Financial Trust and Asset Management Company board of directors has elected Lon Biebighauser to President, replacing Kirk Thaxton, who will transition to relationship manager on a reduced schedule and serve as Vice Chairman of First Financial Trust and Asset Management Company board of directors.
The First Financial Bank,
"Several of our senior officers are transitioning to oversight roles to allow the next generation of leaders to grow and prosper. These promotions are well deserved and these individuals are well prepared to move into positions of higher importance. As you can tell, those of us who have been here for a long time are not leaving; we will be here to provide continuity, support, and mentorship," said F. Scott Dueser, CEO and Chairman of the Board of First Financial. "These new positions will be effective January 1, 2025."
Ronald D. Butler, II
Ron Butler has been with the Company for 32 years and during that time has been Senior Vice President of Commercial Lending, President and CEO of the Eastland Division, President and CEO of the
He holds a bachelor's degree from Texas Tech University, a master's degree from Tarleton State University, is a graduate of Southwestern Graduate School of Banking at SMU, and the National Commercial Lending School at the University of
He is presently the Chair-Elect of the Texas Bankers Association and Board Chair of ContinueCare Hospital at Hendrick. He previously has been Board Chair of Abilene Industrial Foundation,
David W. Bailey
David Bailey has been with the Bank for 21 years where he started as a teller and moved up the ladder to become President and CEO of the Eastland Division and later, Executive Vice President, Head of Commercial Banking for the Company. He is currently, Executive Vice President, Chief Banking Officer, where he oversees all lending and treasury management functions, while also serving as Co-Chair of the Service Improvement Team.
He is a graduate of McMurry University, FFIN University, and Southwest Graduate School of Banking at SMU. David presently serves as First Vice Chair of the board of trustees for McMurry University, Secretary/Treasurer of the
Lon A. Biebighauser
Lon Biebighauser has been with the First Financial Trust and Asset Management Company for 17 years and has risen through the ranks from Assistant Vice President to Regional President of the West Region, including the
He is a graduate of Texas A&M University and a Certified Trust and Financial Advisor. Lon is a Past Board Chair of United Way of
Kirk W. Thaxton
Kirk Thaxton has been with the First Financial Trust and Asset Management Company for over 36 years and has led the First Financial Trust and Asset Management Company to excellence by growing it to over
He has been very active in the Texas Bankers Association Wealth Management Council along with Abilene Airport Development Board, The Grace Museum, Wylie Education Foundation, Abilene Business and Estate Planning Council, Big Brothers Big Sisters, Junior Achievement, just to mention a few.
We certainly appreciate Kirk's outstanding leadership with the trust company over these past years and we are delighted that he will continue to stay on as relationship manager and Vice Chairman of the First Financial Trust and Asset Management Company board of directors.
E. Marelyn Shedd
Marelyn Shedd has been with First Financial Bank for 34 years, starting as Senior Vice President of Commercial Lending and moving up the ladder to President of the
Marshall A. Morris
Marshall Morris joined the Bank 14 years ago as a Credit Analyst and has risen through the ranks to Executive Vice President and Senior Relationship Manager for the
He is a graduate of Texas A&M University, Southwestern Graduate School of Banking at SMU, and FFIN University. Marshall has been the chairman of the board for the
About First Financial Bankshares, Inc.
Headquartered in
First Financial Bankshares, Inc., is listed on The NASDAQ Global Select Market under the trading symbol FFIN. For more information about First Financial Bankshares, Inc., please visit our website at http://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 management of First Financial Bankshares, Inc. (the "Company"), 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" 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; 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/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.