Welcome to our dedicated page for First Financial Bankshares news (Ticker: FFIN), a resource for investors and traders seeking the latest updates and insights on First Financial Bankshares stock.
First Financial Bankshares, Inc. (NASDAQ: FFIN) is a financial holding company headquartered in Abilene, Texas, operating in the commercial banking industry through its community banking subsidiary, First Financial Bank. News about FFIN often centers on its Texas-focused banking operations, corporate governance decisions, capital management actions, and detailed financial performance updates.
Company news releases provide regular earnings announcements, which are also furnished to the SEC on Form 8-K. These updates describe net interest income, noninterest income, provisions for credit losses, noninterest expenses, loan and deposit growth, and performance ratios such as net interest margin, efficiency ratio, return on average assets, and return on average equity. They may also highlight developments in trust fee income, mortgage income, and changes in nonperforming assets and classified loans.
Another key theme in First Financial Bankshares news is capital and balance sheet management. The company has announced the renewal of a stock repurchase plan authorizing the repurchase of up to 5 million shares of common stock, and has disclosed the renewal of a revolving line of credit facility subject to financial and operational covenants. Dividend declarations and changes to the quarterly cash dividend are also covered in connection with the annual shareholders’ meeting.
Corporate governance and leadership updates are frequent topics, including the election and promotion of executives in roles such as commercial banking leadership, regional management, chief financial officer, treasurer, chief information officer, and chief banking operations officer. The company also issues news about leadership in its mortgage business and technology subsidiary, First Technology Services, Inc.
In addition, news releases describe community and service initiatives, such as First Financial Bank’s participation in the Texas Bankers Association’s Texas Banks Community Day of Service. These stories emphasize the bank’s involvement in volunteer efforts across its Texas footprint. For investors and observers following FFIN, this news page aggregates these earnings updates, capital actions, leadership changes, and community activities in one place for ongoing reference.
First Financial Bankshares (NASDAQ: FFIN) has elected Brian D. Goodrich as Executive Vice President and General Counsel, marking the company's first-ever General Counsel appointment. Goodrich brings extensive banking, legal, and regulatory expertise from his previous roles, including his most recent position as First Senior Vice President and Deputy General Counsel at MidFirst Bank, a $38 billion privately held bank in Oklahoma City.
F. Scott Dueser, Chairman, President, and CEO of First Financial Bankshares, expressed confidence that Goodrich's experience will be instrumental in the company's continued growth. Goodrich's background includes positions at BBVA Compass, Thompson & Knight LLP, the Office of the Comptroller of the Currency, and Bank of America. He holds a finance degree from Texas Tech University and was valedictorian at South Texas College of Law.
First Financial Bankshares (NASDAQ: FFIN) has renewed its stock repurchase plan, authorizing the repurchase of up to 5,000,000 shares of common stock through July 31, 2025. This represents approximately 3.5% of the company's outstanding shares as of July 23, 2024. The plan allows management to repurchase shares when considered beneficial to the company and its stockholders, with no minimum repurchase requirement. Repurchases can be made through open market, block trades, or private transactions. F. Scott Dueser, Chairman, CEO, and President, emphasized FFIN's strong capital position and the plan's potential to benefit shareholders when share prices are attractive.
First Financial Bankshares (NASDAQ: FFIN) reported earnings of $52.49 million for Q2 2024, up from $50.87 million in Q2 2023. Basic and diluted EPS were $0.37, compared to $0.36 in Q2 2023. The company saw strong loan growth and net interest margin expansion, resulting in increased net interest income. Net interest income rose to $103.27 million, up from $95.87 million in Q2 2023. The net interest margin improved to 3.48% from 3.29% year-over-year. Loans totaled $7.52 billion, growing 16.15% annualized in Q2. Deposits increased to $11.41 billion. The company's efficiency ratio was 47.41%, up from 44.74% in Q2 2023 due to increased non-interest expenses.
First Financial Bankshares (NASDAQ: FFIN) has appointed Dan Summerford as Executive Vice President, Director of Middle Market Banking. This strategic hire aims to bolster the Bank's commercial banking division. Summerford, who began his career in 1994, brings extensive experience from his previous roles, including Managing Director, Head of Houston Commercial Banking at East West Bank. His expertise is expected to foster long-lasting, profitable relationships for the Bank. Summerford also boasts a strong community involvement, having served on various boards and councils in Southeast Texas.
First Financial Bank has announced key promotions within its Bryan/College Station Region. Nora Thompson has been promoted to Board Chair and CEO, while Austin Bryan will take on the role of Regional President. The announcement was made by Ron Butler, Executive Vice President and Chief Administrative Officer of First Financial Bankshares. Thompson, with over 30 years of experience, has been serving as President and CEO since 2021. She is also heavily involved in community organizations. Bryan, a fourth-generation banker and graduate of Texas A&M University, previously served as Executive Vice President and Senior Relationship Manager. He is actively involved in various local organizations and holds the RMA Credit Risk Certified designation.
The Board of Directors of First Financial Bankshares (NASDAQ: FFIN) has appointed Sally Pope Davis to its Board of Directors. Davis, who retired from Goldman Sachs in April 2024 after a 34-year career, brings extensive expertise in the financial sector. During her tenure at Goldman Sachs, she co-led a major U.S. small-cap value fund and specialized in investments across various financial services. She is a CFA Society New York member and a past president of the Bank and Financial Analysts Association. Davis also has extensive experience in public speaking and has been a frequent participant on investor panels and financial media.
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