First Financial Bankshares Annual Report 2001

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FY2001 Annual Report · First Financial Bankshares

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F i r s t F i n a n c i a l B a n k s h a r e s A n n u a l R e p o r t 2 0 0 1

Example is leadership.

A L B E R T S C H W E I T Z E R

C O R P O R A T E P R O F I L E

First Financial Bankshares, Inc. is a ﬁnancial holding company headquartered in

Abilene, Texas, with consolidated assets of $1.9 billion as of December 31, 2001. The

corporation has 10 affiliate banks, which provide services from 26 full-service locations

in the Central, West and High Plains regions of Texas. The common stock of First

Financial Bankshares, Inc. is held by more than 3,000 shareholders and is listed on The

NASDAQ Stock Market® under the symbol FFIN.

This Annual Report portrays signiﬁcant leadership contributions within each of the

markets served by the member banks of First Financial Bankshares. Selected ﬁnancial

data and important milestones of the company are also presented.

Leadership is the capacity to translate vision into reality

W A R R E N G . B E N N I S

2001 ANNUAL REPORT

Financial Highlights

Letter to Shareholders

Leadership

Selected Financial Data

Trust Services Report

Affiliate Bank Reports
Financial Summaries
Senior Officers and Directors
Market Share

More Community Leadership

Form 10-K

inside back cover

Corporate Officers and Directors

F I N A N C I A L H I G H L I G H T S

IN THOUSANDS EXCEPT FOR PER SHARE DATA

2001

2000

CHANGE

For the Year
Net Income

Earnings per Share

Dividends Declared

Dividends per Share

Averages for the Year
Assets

Securities

Loans

Deposits

Shareholders’ Equity

At Year-End
Assets

Securities

Loans

Deposits

Shareholders’ Equity

Book Value per Share

Trust Assets

Key Ratios
Return on Average Assets

Return on Average Equity

Equity/Assets

Efficiency

$ 29,355

$ 28,316

2.38

14,365

1.16

1,811,130

676,391

897,616

1,566,360

204,517

1,929,694

721,694

940,131

1,685,163

213,654

17.32

958,952

2.28

12,808

1.03

1,694,013

669,618

817,603

1,478,834

184,029

1,753,814

654,253

859,271

1,519,874

196,121

15.92

911,110

1.62%

14.35

11.07

53.82

1.67%

15.39

11.18

53.11

3.7%

4.4

12.2

12.6

6.9

1.0

9.8

5.9

11.1

10.0

10.3

9.4

10.9

8.9

8.8

5.3

T O O U R S H A R E H O L D E R S

FIRST FINANCIAL BANKSHARES, INC. achieved

raised 13.6% in the second quarter; this was accom-

its 15th consecutive increase in annual earnings during

plished through a 25% stock dividend and a 9% adjust-

2001. Net income grew 3.7%, to $29.4 million from

ment in the quarterly cash dividend (to 30 cents per

$28.3 million in 2000; and earnings per share grew 4.4%,

share). The market price of First Financial shares at the

to $2.38 from $2.28. The earnings improvement came

end of 2001 was up 20% from the prior year-end value.

primarily from a modest increase in net interest income

In July 2001, we expanded our banking family by

(attributable to higher volumes of earning assets) and

completing the acquisition of City National Bank,

from higher noninterest income.

Mineral Wells, Texas. City National, with total assets of

While declining interest rates resulted in compressed

$91 million, deposits of $82 million and loans of $49 mil-

interest margins throughout the year, we were pleased

lion, is a good addition to our company. First Financial

that we were able to manage our interest rate risk as well

Bankshares is structured as a family of community banks

as we did. Our return on average assets was 1.62% for the

because we believe that it is through locally based, local-

year, and our return on average equity was 14.35%.

ly focused institutions that we can best deliver outstand-

These key measures of performance were slightly below

ing service to our customers, excellent ﬁnancial results to

those for the prior year, but they continued to compare

our shareholders and great beneﬁts to our communities.

favorably with the results for our industry peer group

On January 2, 2002, Texas National Bank, Southlake,

(1.08% and 14.44%). The efficiency ratio, the cost of

changed its name to First Financial Bank, National

generating each dollar of revenue, increased slightly to

Association, Southlake. The name change was designed

53.82% in 2001 from 53.11% in 2000.

to reﬂect the expansion of the bank’s product offerings

Consolidated assets at year-end totaled $1.930 billion,

and to help extend our brand image. On the same date,

up 10% from $1.754 billion in 2000. This $176 million

the bank opened a branch location in Keller. This new

increase consisted of $85 million generated internally

branch will broaden our market in this very vibrant

and $91 million derived from the acquisition of City

section of the Dallas-Fort Worth Metroplex. We are

National Bank. Loans increased during the year by 9%

pleased with Southlake’s three branch locations and are

to $940.1 million, while total deposits grew 11% to

very encouraged by the opportunities for growth in the

$1.685 billion. The book value of our trust assets

Southlake area.

increased by 5%, reaching $958.9 million at year-end.

Banking and community leadership is the theme of this

First Financial’s balance sheet continued to reﬂect

year’s annual report. Our banks will do only as well as the

excellent asset quality and capital strength. Classiﬁed

communities we are in, so it is imperative that we play

loans (those at risk to some degree) declined to 2.7% of

leadership roles in the continued development of these

total loans at year-end from 3.3% a year earlier. Share-

communities. It is therefore appropriate that we focus on

holders’ equity totaled $213.7 million at the end of 2001,

the people who so ably lead our banks and contribute their

yielding a capital-to-assets ratio of 11.1%. As a sign of

leadership expertise to the communities that we serve. We

the company’s capital strength, cash dividends were

have been able to feature only a few of our many out-

standing people in this report. However, we have includ-

ed, later on, a list of the many community leadership posi-

tions that are held by officers of our individual banks. I

invite you to review this list and see the magnitude of com-

munity involvement that exists.

We have been blessed with good leadership, and we

certainly do not take for granted the position we have

achieved in our industry under the guidance of Walter

Johnson and Ken Murphy. We are pleased that Ken con-

tinues to play an important role as Chairman of the

Board of First Financial Bankshares.

During 2001, we elected three new bank presidents.

In May, the Board of First National Bank of Abilene

elected Chuck Cowell to the position of President and

Chief Executive Officer to succeed me. Chuck is a West

Texas banker with over 28 years of banking and leader-

ship experience. In October, the Board of City National

We sincerely appreciate the dedication and support

Bank named Ken Williamson to succeed Jimmy Seay as

shown last year by all of our Boards of Directors, and

President and Chief Executive Officer. Ken has exception-

by our company’s officers, employees and shareholders.

al management and leadership skills gained in a banking

With your help, we look forward in 2002 to achieving

career that spans more than 30 years. In November, the

further growth and enhanced shareholder value as we

Board of First Financial Bank, Southlake, elected

capitalize on the opportunities available in each of our

Mark Jones, a well-known and experienced northeast

markets. The main goals in our 2002 Strategic Plan are

Tarrant County banker, as President and Chief Executive

the addition of more locations and the introduction of

Officer. We are very honored to have these three ﬁne

mortgage, brokerage and trust services to more of

leaders join our team of presidents.

our markets.

Walter Worthington will retire from the First Financial

Thank you for your support and investment in

Bankshares Board in conjunction with our annual

First Financial Bankshares.

shareholders meeting in April. He was the original

Chairman of Weatherford National Bank and has served

on the holding company Board since April of 1996.

Walter has been a banking and community leader for

many years, and we have beneﬁted greatly from his

F. SCOTT DUESER

counsel as a director.

President and Chief Executive Officer

We make a living by what we get, but we make a life

FIRST FINANCIAL BANKSHARES succeeds and grows when the people who so ably lead our banks also contribute their expertise to

their communities. Below are just a few of our officers who provide outstanding community leadership.

J . V. M A R T I N

B E C K Y H I L L

“The school system, the hospital and

Becky Hill, Senior Vice President of

the bank are the three keystones of a

First National Bank of Abilene,

small community’s economic health,”

generously spends time each week on

says J.V. Martin. He’s been closely

community leadership. Vice chairman and

involved with all of them as Chairman

chairman-elect of Abilene’s Grace

and Chief Executive Officer of

Museum, Hill also serves as assistant

First National Bank, Sweetwater.

treasurer and board member of the

A board member of Goodwill

Industries, West Central Texas

Abilene Zoological Society and board

member of the Junior League of Abilene.

Workforce Development, West Texas

Hill is a member of the Abilene

Rehabilitation Center, Rolling

Independent School District (AISD)

Plains Technical Foundation, Nolan

Consumer Science Advisory Board and

County Community Foundation and

AISD Shotwell Revitalization Committee,

Hendrick Health Care System,

which is raising more than $1 million to

Martin gives his volunteer

revitalize a 1960s-era sports stadium for

commitments the same attention he

multipurpose, statewide use. “Community

gives his bank. “When I join a board,

involvement enhances our quality of life

I want to make a real contribution –

and attracts families and businesses to

not just attend luncheons,” he says.

Abilene, which expands the opportunities

for the bank,” she says.

by what we give. N O R M A N M A C E W E N

KIRK THAXTON

Senior Vice President and Trust Officer at Abilene’s First National Bank,

Kirk Thaxton recently completed his term as board president of Junior

Achievement and devotes much of his free time to educating public

school children about the economy. “Most of these students don’t have

any exposure to the business world, so if you can make an impact on one

child, it’s worth it,” he says. The father of three children, ages 9 to 16,

Thaxton also leads other youth-oriented community activities, including

Harmony Family Services and the Abilene Youth Basketball Association.

He also serves on the Community Council of Sears Methodist Centers

and the Community Development Task Force. “When I become part of

an organization, I always try to take an active role,” Thaxton says. “It is

very rewarding to be able to make a difference for the community.”

D O Y L E L E E

“Everyone should have a passion,” says Doyle Lee, Chairman and

Chief Executive Officer of Weatherford National Bank. “Mine is

education.” As president of Weatherford’s Independent School District

Foundation, he’s working to help a system challenged by population

growth. He also serves on the board of the Weatherford College

Foundation and is advisory director to the college’s investment

committee. “Community growth creates difficult issues – downtown

traffic, outdated school facilities, overcrowded public areas – that

require management,” says Lee, who recently received the

Chamber of Commerce James Doss Community Leadership Award

for spearheading a successful $97 million bond campaign for public

school ﬁnancing. “The real challenge is to continue growing while

managing quality of life and maintaining traditions that make this

community special.”

Management is about arranging and telling. Leadership

R O N B U T L E R

A bank reﬂects how well the local community is doing, according to

Ron Butler, President and Chief Executive Officer of Stephenville Bank

& Trust Co. That’s why his biggest interest is economic development –

and why he’s taken a leadership role in organizations like the Brazos

River Authority, the Stephenville Chamber of Commerce and the

Stephenville Economic Development Foundation. As vice chairman of

Stephenville’s Chamber of Commerce, he works to grow the city’s

existing diversiﬁed manufacturing base and bring in new industry –

including a dairy processing plant that will make Stephenville the cream

cheese capital of Texas. “When you invest the time to grow your

community, the bank grows as well,” Butler says.

J E A N B RYA N

A Weatherford community leader for nearly 50 years and Senior Vice

President of Weatherford National Bank, Jean Bryan has built a

nationwide network of contacts. A trustee of Weatherford College, she

also serves on the boards of the Parker County Committee on Aging,

Red Cross, the Weatherford Independent School District Improvement

Team and the Millsap District Educational Improvement Board. She

created the Weatherford National Bank School Banking Program for

the Weatherford Independent School District. She is a member of the

Community Education Advisory Council, Weatherford/Parker County

Economic Development Board, the Campbell Hospital Women’s

Advisory Board and the Main Street Advisory Board. In 2001, Bryan

received the Hero for Children Award from the State of Texas and the

Outstanding Tourism Achievement Award from the Weatherford

Chamber of Commerce. Her primary mission? “Recruiting new

customers to Weatherford National Bank,” Bryan says.

is about nurturing and enhancing T O M P E T E R S

MICHAEL L. BOYD

MARELYN SHEDD

As President and Chief Executive

An active Abilene community leader,

Officer of San Angelo National Bank,

Marelyn Shedd, Senior Vice President

Mike Boyd spends more than a day a

of First National Bank of Abilene,

week on community leadership work.

is committed to programs that enrich

He serves as president of San Angelo

the lives of young people. A member

Industries, vice chairman of the West

of the Hendrick Home for Children

Texas Rehabilitation Center and vice

Development Council, she also serves

president, board of trustees of Howard

on the boards of the Abilene Cultural

College Foundation-San Angelo

Affairs Council and the Non-Proﬁt

Campus. Boyd is also a board member

Resource Center. She is a member of

of the San Angelo Health Foundation

the Future Fund Grants Committee

and the Angelo State University

and recently completed a two-year term

Foundation. Although he works to

as treasurer of the United Way of

balance his time between the bank,

Abilene. “I’ve enriched my career so

community service and his family, he

much by volunteering,” Shedd says.

ﬁnds there’s often overlap. “Whenever

“Working with many different segments

I attend a board meeting, I’m also

of the community has provided me with

making a customer call on behalf of

a variety of new perspectives on the

the bank,” Boyd says.

community’s needs.”

S E L E C T E D F I N A N C I A L D A T A

(IN THOUSANDS, EXCEPT FOR PER SHARE DATA)

Year-End

Total
Assets (1)

Shareholders’
Equity (1)

Net
Income (1)

Earnings
per Share (2)

Cash
Dividends
per Share (2)

Stock
Dividends
and Splits

Year-End
Book Value
per Share (2)

Year-End
Market Value
per Share (2)

2001

2000

1999

1998

1997

1996

1995

1994

1993

1992

$1,929,694

$213,654

$29,355

$2.38

$1.16

5/4 Split

$17.32

$30.10

1,753,814

1,723,369

1,686,647

1,573,509

1,262,041

1,062,325

1,001,906

924,630

839,474

196,121

178,663

169,449

148,226

131,161

114,917

103,908

90,443

81,433

28,316

25,690

23,254

20,063

18,122

16,355

13,112

11,978

10,989

2.28

2.06

1.87

1.70

1.58

1.52

1.22

1.93

1.10

1.03

0.90

0.80

0.70

0.63

0.56

0.51

0.45

0.35

10% Dividend

5/4 Split

10% Dividend

3/2 Split

15.92

14.33

13.62

12.46

11.36

10.66

9.67

8.99

8.14

25.15

24.60

28.00

31.18

23.27

15.59

12.44

15.46

13.20

Ten-Year
Compound
Growth Rate

8.74%

11.26%

13.00%

10.46% 14.48%

8.85%

16.09%

(1) As originally reported at the close of each year and prior to restatements for pooling-of-interests.
(2) Adjusted for stock dividends and splits.

FIRST FINANCIAL BANKSHARES, INC.

1 8 8 9
Farmers and Merchants National
Bank opens for business in Abilene,
Texas, and becomes the only Abilene
bank to survive the Depression
without being merged, closed or
recapitalized.

1 9 5 7
The bank name changes to First
National Bank of Abilene.

1 9 7 3
First National Bank of Abilene
shareholders form First Abilene
Bankshares, Inc. as a multi-bank
holding company.

1 9 7 4
First Abilene Bankshares, Inc.
acquires Hereford State Bank.

1 9 8 1
First Abilene Bankshares, Inc.
acquires First National Bank,
Sweetwater.

1 9 8 2
First Abilene Bankshares, Inc.
acquires Eastland National Bank.

1 9 9 0
First Abilene Bankshares, Inc.
acquires First National Bank in
Cleburne. First Abilene Bankshares,
Inc. is recognized as one of the safest
banking organizations in the United
States and is one of only two
organizations in Texas to receive
that distinction.

1 9 9 3
First Abilene Bankshares, Inc.
acquires Stephenville Bank & Trust
Co. The company changes its name
to First Financial Bankshares, Inc. to
reﬂect the scope of its operations.
The company’s stock is listed on
NASDAQ.

1 9 9 4
First Financial Bankshares, Inc.
acquires Southwest Bank of
San Angelo.

1 9 9 6
First Financial Bankshares, Inc.
acquires Citizens National Bank of
Weatherford and Weatherford
National Bank and merges the two
banks under the charter of
Weatherford National Bank.

1 9 9 7
First Financial Bankshares, Inc.
acquires Texas Commerce Bank,
San Angelo, merges it with
Southwest Bank of San Angelo and
recharters the two banks as San
Angelo National Bank. First Financial
Bankshares, Inc. acquires Texas
National Bank, Southlake.

1 9 9 8
First Financial Bankshares, Inc.
acquires Cleburne State Bank.

2 0 0 1
First Financial Bankshares, Inc.
acquires City National Bank,
Mineral Wells.

CURTIS R. HARVEY

Executive Vice President and
Chief Financial Officer

T R U S T S E R V I C E S

Although the events of the past year had a major

customer. Our Customer StrataStation provides

impact on

the

trust

industry, your Trust

Trust Administrators with account information at

Departments produced solid results. During 2001,

their desktops so they can respond immediately to

the Trust Departments at First National Bank of

customer inquiries.

Abilene, San Angelo National Bank, Stephenville

The Year 2002 promises

to be one of

Bank & Trust Co. and First National Bank,

opportunities for all locations. In July, we will convert

Sweetwater, grew by $47.8 million to a year-end

Stephenville Bank & Trust Co. to the SEI

book value of $958.9 million. Revenue for the com-

ROBERT S. PATTERSON

bined four departments reached $5.9 million, an

First National Bank
of Abilene

increase of 8.3% over the prior year. Contribution of

after-tax income to the company increased by 12.4%

to $1.6 million.

In a volatile market, our Abilene investment man-

agement team demonstrated its expertise through its

model portfolio by beating both the S&P and Dow

indices by 683 basis points and 38 basis points,

respectively. This is the second year in a row that we

DAVID BYRD

KEITH KOETS

DON ALLEN

San Angelo
National Bank

Stephenville Bank
& Trust Co.

First National Bank,
Sweetwater

have outperformed both of these indices.

Corporation accounting system, providing customers

Innovative technology is also a key factor in pro-

and administrators with its enhanced features. With

viding exceptional service to our customers, which is

our experienced investment professionals, solid

our highest priority. In 2001, we added two impor-

investment results, a keen sense of customer needs

tant technologies to enhance service: our Portfolio

and commitment to technological innovation, we

Realignment feature automatically realigns securi-

expect to produce another outstanding year of

ties to account investment parameters set by the

financial performance

for First Financial

Investment Department, in consultation with the

Bankshares shareholders.

TRUST ASSETS

In Millions

TRUST FEES

In Millions

$959

911

845

774

688

$5.89

5.50

5.10

4.75

3.99

F I R S T N A T I O N A L B A N K O F A B I L E N E

M A I N O F F I C E

400 Pine Street
Abilene, Texas
Chartered 1889
Seven Offices in
Abilene

CHUCK A. COWELL
President and Chief
Executive Officer

S E N I O R O F F I C E R S
Chuck A. Cowell
President and Chief Executive Officer
Ron Fogle
Executive Vice President,
Commercial Loans
Robert S. Patterson
Executive Vice President and Senior
Trust Officer
John Prince
Executive Vice President, Personal Loans
Mario A. Luppino
Executive Vice President, Marketing
and Retail
Gary Tucker, CDP
Executive Vice President and
Chief Information Officer
Leo Dennis
Executive Vice President, Chief
Financial Officer and Cashier

D I R E C T O R S
F. Scott Dueser
Chairman of the Board
J. Michael Alexander
President, James M. Alexander & Co.
Tucker S. Bridwell
President and Chief Executive Officer,
Mansefeldt Investments, Inc.
Joseph E. Canon
Executive Director, Dodge Jones
Foundation
David Copeland
President, Shelton Family Foundation
Chuck A. Cowell
President and Chief Executive Officer

Joe Crawford
President, Abilene Aero, Inc.
Charles Ezzell
Investments
Allan D. Frizzell
Executive Vice President, Enrich Oil
Corporation
Raymond A. McDaniel, Jr.
Investments
Bynum Miers
Rancher
William D. Minter
President and Chief Executive Officer,
Leapfrog Technologies, LLC
Stanley Morris, Jr.
Investments
Kenneth T. Murphy
First Financial Bankshares, Inc.
James Parker
President, Parker Properties, Inc.
Jack D. Ramsey, M.D.
Physician
Dian Graves Stai
Investments
Michael C. Waters, F.A.C.H.E.
President, Hendrick Health System

A D V I S O R Y
Bob J. Surovik
McMahon, Surovik, Suttle, Buhrmann,
Hicks and Gill, P.C.
Steve Suttle
McMahon, Surovik, Suttle, Buhrmann,
Hicks and Gill, P.C.

Taylor County Deposit Market Share45%

IN THOUSANDS

Assets

Loans

Deposits

Equity

Net Income

Return on Assets

Return on Equity

12-31-01

$670,959

344,341

598,310

63,276

13,051

1.98%

20.19

12-31-00

$665,297

335,492

597,120

61,160

12,428

1.94%

21.68

Trust Assets

$722,504

$692,279

COMMUNITY LEADERSHIP

F. SCOTT DUESER
Texas Bankers Association, Chairman
Abilene Industrial Foundation, Board Member,

Former Chairman

Abilene Higher Education Foundation,

Board Member

West Texas Rehabilitation Center, Board Member
Hendrick Medical Center Foundation,

Board Member

CHUCK A. COWELL
United Way of Abilene, Loaned Executive
Abilene Chamber of Commerce, Board Member
Abilene Industrial Foundation, Board Member
Leadership Abilene

RON FOGLE
Hendrick Medical Center Board of Trustees,

Vice Chairman

Hendrick Medical Center Foundation,

Board Member

Abilene Improvement Corporation, Board Member
First Baptist Church of Abilene, Deacon

ROBERT S. PATTERSON
City of Abilene, Airport Development Board,

Vice Chairman

The Grace Museum, Board Member, Director
Abilene Zoological Society, Vice President
Abilene Chamber of Commerce, Military Affairs

Committee

7th Wing Operations Group at Dyess Air Force

Base, Honorary Commander
Center for Contemporary Arts,

Board Member

United Way of Abilene, Board Member
Nonproﬁt Resource Center, Board Secretary
U.S. Lacrosse, Board of Governors
Junior Achievement, Instructor

JOHN PRINCE
Keep Abilene Beautiful, Board Member
Child Protective Services of Abilene
Texas Scholars Program, Instructor

MARIO A. LUPPINO
Abilene Chamber of Commerce,

Board of Directors

Abilene Education Council,

Board of Directors
Texas Scholars Committee
Junior Achievement, Instructor
Wylie Community Center Committee,

Board of Directors

GARY TUCKER
Association of Information Technology

Professionals, President

First Baptist Church of Abilene, Deacon

LEO DENNIS
Abilene Chamber of Commerce
United Way of Abilene
Day Nursery of Abilene, Board Member

continued on page 20

F I R S T F I N A N C I A L B A N K ,

N A T I O N A L A S S O C I A T I O N , C L E B U R N E

M A I N O F F I C E

D I R E C T O R S

403 North Main
Cleburne, Texas
Chartered 1927
Offices in Cleburne, Burleson and
Alvarado

S E N I O R O F F I C E R S

Ronald E. Schneider
Chairman of the Board, President and
Chief Executive Officer

Perry Ginn
Executive Vice President

Homer S. Pittman, Jr.
Senior Vice President and Cashier

RONALD E.
SCHNEIDER
Chairman of the Board,
President and Chief
Executive Officer

Craig Beskow
Senior Vice President

Derek Schmidt
Senior Vice President

Ronald E. Schneider
Chairman of the Board, President and
Chief Executive Officer

Albert A. Archer
President, Walls Industries, Inc.

Gary Bennett
Bennett Printing & Office Supply

Robert T. Childress
Investments

Jim Easdon
Investments

Curtis R. Harvey
First Financial Bankshares, Inc.

Hollis E. (Gene) Joslin
Investments

Brent D. Magers
Chief Executive Officer and
Administrator,
Walls Regional Hospital

George Marti
Marti Enterprises

Kenneth T. Murphy
First Financial Bankshares, Inc.

Johnson County Deposit Market Share21%

IN THOUSANDS

Assets

Loans

Deposits

Equity

Net Income

Return on Assets

Return on Equity

12-31-01

$209,159

108,607

189,597

18,040

3,120

1.62%

17.08

12-31-00

$198,634

105,211

180,009

17,522

3,183

1.64%

18.74

COMMUNITY LEADERSHIP

RONALD E. SCHNEIDER
Cleburne Economic Development Foundation
Texas Bankers Association, Board Member
Buffalo Creek Beautiﬁcation Committee
Tuesday Forum

PERRY GINN
Tuesday Forum
Cleburne Jaycees
Rotary Club

CRAIG BESKOW
Lions Club

STEVE REID
Aledo School Board, President
Whitney Chamber of Commerce, Director
Lions Club, Past President

GRADY EASDON
Burleson Chamber of Commerce
Joshua Chamber of Commerce
Kiwanis Club Lay Person of the Year
Rotary Club

CYNTHIA ALLEN
Zonta Club of Johnson County, Executive Board
United Way of Cleburne, Executive Board
Cleburne Advisory Council
Meals on Wheels
Alvarado Lions Club

LANA RAGON
Johnson County Board of Realtors
Save Old Cleburne Association

LINDA HALL
Buffalo Creek Beautiﬁcation Committee
Cleburne Downtown Association
United Way of Cleburne
Cleburne Chamber of Commerce, Ambassador
Christian Business Club, President
Zonta International

ELLEN PARNELL
Cleburne Chamber of Commerce, Ambassador
Goodfellows
Meals on Wheels
In His Name King’s Daughters

PAM LOWE
Character First for Johnson County,

Vice President
Leadership Cleburne

CHERYL WILSON
Goodfellows
Meals on Wheels
In His Name King’s Daughters
Cleburne High School PTSA, Treasurer

BRANNON POTTS
Cleburne Jaycees

continued on page 20

E A S T L A N D N A T I O N A L B A N K

M A I N O F F I C E

201 East Main
Eastland, Texas
Chartered 1934
Serving Eastland County

S E N I O R O F F I C E R S

Tommy J. Barrow
Chairman of the Board, President and
Chief Executive Officer

Clint S. Ferguson
Executive Vice President

Jim Davidson
Senior Vice President and Cashier

D I R E C T O R S

Tommy J. Barrow
Chairman of the Board, President and
Chief Executive Officer

F. Scott Dueser
First Financial Bankshares, Inc.

Clint S. Ferguson
Executive Vice President

Jim Keffer
President, EBAA Iron Sales, Inc.

COMMUNITY LEADERSHIP

TOMMY J. BARROW
Eastland Economic Development, Inc.,

Secretary and Treasurer

Project Eastland Pride, Vice President
Eastland Rotary Club

CLINT FERGUSON
Pasture to Packer Program, Secretary
Eastland Kiwanis Club
Eastland Booster Club, Past President

Mike T. Perry
President, Kinnaird, Rossander & Perry
Agency, Inc.

JIM DAVIDSON
Lions Club

Tommy Warford
Turner, Seaberry and Warford,
Attorneys

MARY WELLS
Eastland Chamber of Commerce,

Board of Directors

Eastland County Appraisal District, Secretary
Eastland County Water District Board,

Secretary

Ranger College, Advisory Board
Red Coat Committee, Chairman

JONATHAN NEWTON
Eastland Chamber of Commerce, Volunteer
Eastland Rotary Club
Albany Old Jail Art Center, Exhibitions

Committee

STEVE SIMMEL
Eastland Referee Association, President
“Little Dribblers,” President
Flag Football, Referee
Girls Softball and Volleyball, Coach

Eastland County Deposit Market Share27%

IN THOUSANDS

Assets

Loans

Deposits

Equity

Net Income

Return on Assets

Return on Equity

12-31-01

$57,412

29,904

51,577

5,737

894

1.58%

15.91

12-31-00

$54,502

31,384

48,842

5,429

758

1.66%

17.76

TOMMY J. BARROW
Chairman of the Board,
President and Chief
Executive Officer

H E R E F O R D S T A T E B A N K

M A I N O F F I C E

D I R E C T O R S

212 East Third
Hereford, Texas
Chartered 1947
Serving Deaf Smith County

S E N I O R O F F I C E R S

Craig Smith
Chairman of the Board, President and
Chief Executive Officer

Terry Bromlow
Executive Vice President

Steve Gilbert
Senior Vice President and Cashier

Jeff Brown
Senior Vice President

CRAIG SMITH
Chairman of the Board,
President and Chief
Executive Officer

Craig Smith
Chairman of the Board, President and
Chief Executive Officer

Joe Artho
Retired General Manager, Hereford
Grain Corp.

Terry Bromlow
Executive Vice President

F. Scott Dueser
First Financial Bankshares, Inc.

S.L. Garrison
Farming and Cattle Feeding

Terry Langehennig
Cowsert, Line and Langehennig,
Attorneys

Rex Lee
Investments and Farming

Garth Merrick
President and Chief Executive Officer,
Hereford Bi-Products, Inc. and Merrick
Petfoods, Inc.

Allen Parson
Restaurateur and Investments

Johnny Trotter
Ranching, Farming and Cattle Feeding

Roger Williams
Farming

R.N. Yarbro
Investments

Deaf Smith County Deposit Market Share47%

IN THOUSANDS

Assets

Loans

Deposits

Equity

Net Income

Return on Assets

Return on Equity

12-31-01

$84,246

46,261

70,546

8,120

1,277

1.57%

15.64

12-31-00

$86,981

42,142

72,415

7,987

1,367

1.64%

16.86

COMMUNITY LEADERSHIP

CRAIG SMITH
Hereford Economic Development Corporation,

Secretary

Spicer Gripp Memorial Youth Foundation
Texas Cattle Feeders Association
New Mexico Cattle Growers Association
Northern New Mexico Livestock Association
Texas and Southwest Cattle Raisers

Association

American Paint Horse Association
Hereford Hustlers Chamber of Commerce

TERRY BROMLOW
Hereford Hustlers Chamber of Commerce
Lions Club

STEVE GILBERT
United Way of Hereford, Board Member
YMCA Sustaining Fund Drive

JEFF BROWN
Hereford Hustlers Chamber of Commerce
Big Brothers Big Sisters
Kiwanis Club

MADELINE ROSSON
Deaf Smith County Volunteer Board
Women’s Division Chamber of Commerce

CHARLENE SANDERS
Hereford Hustlers Chamber of Commerce,

President

Hereford Chamber of Commerce, Board of

Directors, Treasurer
Hereford Cattlewomen
Hereford Women’s Bowling Association

ROBEN CRENSHAW
Hereford Volunteer Fire Department
4-H Club
Kids, Inc.

RENI MASON
Big Brothers Big Sisters

PAULA EUBANKS
Hereford Chamber of Commerce Singers

DEBBIE GONZALEZ
Hereford Ambucs
Hereford Hustlers Chamber of Commerce
Hereford Chamber of Commerce, Board of

Directors

C I T Y N A T I O N A L B A N K , M I N E R A L W E L L S

M A I N O F F I C E

D I R E C T O R S

1800 E. Hubbard
Mineral Wells, Texas
Chartered 1925
Serving Palo Pinto County

S E N I O R O F F I C E R S

Ken A. Williamson
President and Chief Executive Officer

Brad Seay
Executive Vice President, Lending

Eddie Gregory
Vice President

Kay Hudspeth
Cashier

Jimmy Seay
Chairman of the Board

F. Scott Dueser
First Financial Bankshares, Inc.

Curtis R. Harvey
First Financial Bankshares, Inc.

Don O’Neal
Don O’Neal Distributing Company, Inc.,
O’Neal Enterprises, Inc.

Brad Seay
Executive Vice President

Dan Seay
Investment Centers of America

Walter Joe Thomas, D.D.S.
Dentist

Ken A. Williamson
President and Chief Executive Officer

KEN A. WILLIAMSON
President and Chief
Executive Officer

Palo Pinto County Deposit Market Share26%

12-31-00

IN THOUSANDS

Assets

Loans

Deposits

Equity

Net Income

Return on Assets

Return on Equity

12-31-01

$91,252

48,838

82,339

8,433

574

1.25%

13.22

COMMUNITY LEADERSHIP

KEN A. WILLIAMSON
High Sky Children’s Ranch, Chairman of

the Board

Midland Downtown, Board Member
United Way of Midland, Panel Allocations

Committee

Permian Basin Scholarship Committee
BUY.COM Permian Basin Golf Tournament,

Board Member

Multiple Sclerosis, Board Member

BRAD SEAY
Dunbar School Renovation Committee
Palo Pinto County Livestock Association
Texas Frontier Trails, Inc., Director

and Treasurer

Mineral Wells Kiwanis Club, Board Member

EDDIE GREGORY
Mineral Wells Kiwanis Club, First

Vice President

First United Methodist Church, Board

of Trustees

Mineral Wells Little League, Coach
Mineral Wells Soccer Club, Coach

KAY HUDSPETH
The Jeanine Young Scholarship Fund,

Founder and Board Member

Eastern Star
Daughters of American Colonists
Santo High School Ex-Students Association

MIKE MEARSE
Mineral Wells Kiwanis Club, President-Elect
First Baptist Church, Finance Committee

SHELLEY RAMSEY
First Baptist Church of Mineral Wells,

Assistant Treasurer, Vice President and
Sanctuary Choir

Travis Elementary PTO, Vice President
Mineral Wells Junior High PTO, Treasurer

S A N A N G E L O N A T I O N A L B A N K

M A I N O F F I C E

301 West Beauregard
San Angelo, Texas
Chartered 1997
Two Offices in San Angelo

S E N I O R O F F I C E R S

Michael L. Boyd
President and Chief Executive Officer
David Byrd
Executive Vice President and
Trust Officer
Terry Erwin
Executive Vice President
Robert Pate
Executive Vice President
Katherine Reeves
Senior Vice President and Cashier

MICHAEL L. BOYD
President and Chief
Executive Officer

D I R E C T O R S

Dal DeWees
Chairman of the Board
George Alexander
Partner, Alexander Construction
Company
Michael L. Boyd
President and Chief Executive Officer
W. Dan Cravy, M.D.
Physician
David B. Drake
Investment Advisor

F. Scott Dueser
First Financial Bankshares, Inc.
Doug Eakman
Owner, Pecos Street Pharmacy
Harry Elam
Retired Vice President, General
Telephone Company of the Southwest
Joe Henderson
President, Porter Henderson Implement
Company, Inc.
Robert D. Housley
President and Owner, Housley
Communications
Jim Johnson
Shannon, Porter, Johnson, Pﬂuger,
Davis & Joynton, LLP
David F. Lupton
President, Angelo Glass & Mirror
Company, Inc.
Kenneth T. Murphy
First Financial Bankshares, Inc.
Bill Pﬂuger
Rancher
Richard W. Salmon
Investments
John E. Schwartz, Sr.
Farmer/Rancher
F.L. (Steve) Stephens
Retired Chairman and
Chief Executive Officer,
Town & Country Food Stores, Inc.

Tom Green County Deposit Market Share25%

IN THOUSANDS

Assets

Loans

Deposits

Equity

Net Income

Return on Assets

Return on Equity

12-31-01

$299,808

110,685

257,212

27,986

4,167

1.46%

15.13

12-31-00

$275,921

113,506

227,490

25,996

3,865

1.47%

15.73

Trust Assets

$129,471

$118,255

COMMUNITY LEADERSHIP

DAVID BYRD
Rio Concho, Inc., Finance and Executive

Committee

Children’s Advocacy Center of Tom Green

County, Inc. (CASA)

Hope House, Finance Committee
San Angelo Schools Foundation
San Angelo Business and Education Coalition
Texas Society of Certiﬁed Public Accountants,

San Angelo Chapter, President

Rotary Club of San Angelo
First Presbyterian Church, Chairman of

Stewardship Committee

TERRY ERWIN
Plaza del Sol (Christian Senior Citizen HUD

Housing), Director

San Angelo Downtown Rotary Club, Director
College Hills Christian Church, Treasurer

ROBERT PATE
Boys and Girls Club of San Angelo, Board

Member

Angelo State University, President’s Circle
Angelo State University Ram Club, Board

Member and President-Elect

Concho Valley Council Boy Scouts of America,
Board Member and Finance Chairman
Kiwanis Club of West Angelo, Board Member

and Past President

United Way of the Concho Valley, Allocation

Committee and Policy Team

San Angelo YMCA, Board Member
San Angelo A&M Club, Board Member and

Past President

Texas A&M University, Texas A&M

Foundation Representative

Texas A&M University, Former Student

Association Representative

KATHERINE REEVES
Southwest Rotary Member
First Presbyterian Church,

Mission/Service/Outreach Committee
Chairman

WILLIAM WIEDENFELD
Professional Agriculture Workers Association
Wall Young Farmers
Agriculture Marketing Club
San Angelo Stock Show, Swine Committee
Tom Green County Junior Livestock Show,

Lamb Committee

Concho Valley Council Boy Scouts of America
Knights of Columbus Holy Angels Council

ROBERT PFLUGER
Historic Preservation Commission Member
Old Town Conservancy, Board Member
March of Dimes, Board Member

VONDA SANDERS
Small Business Association Workshops on
Women in Business, Guest Speaker
Glen Meadows Baptist Church, Finance

Committee

continued on page 20

F I R S T F I N A N C I A L B A N K ,

N A T I O N A L A S S O C I A T I O N , S O U T H L A K E

M A I N O F F I C E

D I R E C T O R S

3205 East Highway 114
Southlake, Texas
Chartered 1985
Offices in Southlake and Trophy Club

Perry D. Elliott
Chairman of the Board

James E. Burger
Burger Construction

S E N I O R O F F I C E R S

Perry D. Elliott
Chairman of the Board

Mark L. Jones
President and Chief Executive Officer

Susie Howell
Executive Vice President

Michele P. Stevens
Senior Vice President and Cashier

Jack Dortch
Jack Dortch Insurance Agency

F. Scott Dueser
First Financial Bankshares, Inc.

Derrell Johnson
Senior Vice President, Kimley-Horn &
Associates, Inc.

Mark L. Jones
President and Chief Executive Officer

K. Wayne Lee
President, DDFW Properties

Robert S. Mundlin
Owner, Lifetime Beneﬁts Insurance

Kenneth T. Murphy
First Financial Bankshares, Inc.

Jim Ridenour
President, Sunbelt Station Service

MARK L. JONES
President and Chief
Executive Officer

Cities of Southlake & Roanoke Deposit Market Share17%

IN THOUSANDS

Assets

Loans

Deposits

Equity

Net Income

Return on Assets

Return on Equity

12-31-01

$65,554

42,366

59,672

5,845

652

1.07%

10.97

12-31-00

$60,489

34,087

49,307

5,803

1,084

1.74%

19.43

COMMUNITY LEADERSHIP

MARK L. JONES
Keller Chamber of Commerce, Vice Chairman
Tarrant County Fee Arbitration Committee,

Board Member

Keller Crime Control and Prevention Board,

Chairman

Catholic Charities Housing Board of Fort

Worth, President

University Christian Church, Fort Worth,

Trustee

MICHELE P. STEVENS
Glenhope Elementary PTA,

Publicity Chairman

PATTI DANIEL
Roanoke, Trophy Club, Westlake Chamber of

Commerce, Ambassador
Metroport Meals on Wheels
Trophy Club Women’s Club
Lions Club of Trophy Club

DON REDDING
Keller Higher Education Committee,

Vice President

Keller Economic Development Board,

Vice Chairman
Keller Lions Club
Greater Keller Chamber of Commerce

TRENT SWEARENGIN
Grapevine Chamber of Commerce
GSC Young Life Committee
Fort Worth/Tarrant County A&M Club

JOSE DURON
Leadership Southlake
Roanoke, Trophy Club, Westlake Chamber of

Commerce, Economic Development
Committee

Southlake Chamber of Commerce
Grapevine Chamber of Commerce
Grapevine Ambucs Member
Colleyville Chamber of Commerce,

Golf Committee

TAMI ELLIS
Texas Girls’ Choir, Volunteer
Colleyville Heritage High School PTA

Ron Butler
President and Chief Executive Officer

COMMUNITY LEADERSHIP

S T E P H E N V I L L E B A N K & T R U S T C O .

M A I N O F F I C E

2201 West South Loop
Stephenville, Texas
Chartered 1923
Two Offices in Stephenville

S E N I O R O F F I C E R S

Ron Butler
President and Chief Executive Officer

Ken Luker
Executive Vice President

Monty Bedwell
Senior Vice President

Dereece Howell
Senior Vice President and Cashier

Keith Koets
Senior Vice President and Trust Officer

Terry McCoy
Senior Vice President

Robert Reeves
Senior Vice President

D I R E C T O R S

James C. Terrell, Jr., M.D.
Chairman of the Board

Perry D. Elliott
Vice Chairman

RON BUTLER
President and Chief
Executive Officer

William L. Corbin
Investments

Charles P. Gillespie, Jr.
Engineer

Kenneth T. Murphy
First Financial Bankshares, Inc.

William H. Oxford
Attorney

Bill Parham
Parham & Parham, CPAs

Jerry Parham
Investments

Jack Parks
Farmer

Ronald E. Schneider
First Financial Bankshares, Inc.

Frank Terrell, M.D.
Ophthalmologist

John Terrill
Attorney

A D V I S O R Y

W.L. Nix
Investments

Erath County Deposit Market Share30%

IN THOUSANDS

Assets

Loans

Deposits

Equity

Net Income

Return on Assets

Return on Equity

12-31-01

$130,186

71,367

118,903

10,954

2,151

1.79%

19.88

12-31-00

$115,992

68,555

102,209

10,319

1,960

1.77%

19.21

Trust Assets

$ 40,859

$ 34,442

KEN LUKER
Leadership Stephenville
Empire Tribune, Advisory Board
Stephenville Chamber of Commerce,
Real Estate Planning Committee

Stephenville Independent School District,

Athletic Hall of Fame Selection Committee

MONTY BEDWELL
Stephenville Chamber of Commerce
Optimist Club

DEREECE HOWELL
Zonta, Board Member
Stephenville Chamber of Commerce
Beta Sigma Phi

KEITH KOETS
Terrell Foundation, Secretary
Leadership Stephenville
Noon Lions Club

ROBERT REEVES
Chamber of Commerce
Optimist Club

MINDY WOOLEY
Leadership Stephenville
Crime Stoppers, Board Member
Stephenville Chamber of Commerce,

Ambassador

Stephenville Independent School District,

Volunteer

KIM COOPER
Stephenville Chamber of Commerce,

Board of Directors, Tourism Committee

VICKIE PETTIT
Stephenville Chamber of Commerce
Beta Sigma Phi

F I R S T N A T I O N A L B A N K , S W E E T W A T E R

M A I N O F F I C E

D I R E C T O R S

201 Elm Street
Sweetwater, Texas
Chartered 1948
Offices in Sweetwater and Roby

J.V. Martin
Chairman of the Board, President and
Chief Executive Officer

Glenn D. Bennett
Bennett & Associates

S E N I O R O F F I C E R S

J.V. Martin
Chairman of the Board, President and
Chief Executive Officer

Louis Brooks, Jr.
Ranching, Brooks-Maberry, Inc.

Bill W. Burns
President, Bill Burns Oil Co., Inc.

Don Allen
Senior Vice President and Trust Officer

F. Scott Dueser
First Financial Bankshares, Inc.

Kirby Andrews
Senior Vice President, Lending

W.A. Hickman
Ranching

Donnie Ruppert
Senior Vice President and Controller

Morris E. Hinshaw
Retired Executive Vice President

J.V. MARTIN
Chairman of the Board,
President and Chief
Executive Officer

Rodney Foster
Senior Vice President, Lending

Cecil J. King
Retired President, Citizens State Bank,
Roby

Thomas L. Rees, Sr.
Rees and Rees, Attorneys

Nolan and Fisher Counties Deposit Market Share40%

IN THOUSANDS

Assets

Loans

Deposits

Equity

Net Income

Return on Assets

Return on Equity

12-31-01

$104,968

46,666

90,100

10,204

1,605

1.53%

15.82

12-31-00

$104,932

40,758

85,467

9,807

1,344

1.29%

13.53

Trust Assets

$ 66,118

$ 66,134

COMMUNITY LEADERSHIP

DON ALLEN
Sweetwater Independent School District,

Vice President

Sweetwater Chamber of Commerce,
Sports and Recreation Committee
Rushing Wind Emmaus Community,

Treasurer

Sweetwater Rotary Club

KIRBY ANDREWS
Sweetwater Industrial Foundation,

Board Member

Sweetwater Chamber of Commerce,

Board Member

Texas Midwest Community Network
Rotary Club

DONNIE RUPPERT
American Red Cross, Board Member

RODNEY FOSTER
Nolan County Crimestoppers, Board Member,

Treasurer

Lions Club of Sweetwater
Nolan County Livestock Show, Sales

Committee Member

AJRA National Finals Rodeo Committee

GLENDA CASTO
Nolan County United Way, Board Member
SNAP Meals on Wheels

JANIS MCDOWELL
J.P. Cowan – Sweetwater Independent School

District, Site Base Committee

Sweetwater Independent School District,

Redistricting Committee

Rolling Plains Memorial Hospital Foundation,

Secretary

American Cancer Association, Relay for Life

Chairman

Sweetwater Jaycees Scholarship Fund
Sweetwater Independent School District Youth

Art Appreciation Program, Treasurer

KAREN RAINBOLT
Rolling Plains Memorial Hospital,

Board of Directors

Sweetwater Independent School District

Pathways to Education

Sweetwater High School Campus
Improvement Council & PTO

BRITT STUART
Roby Independent School District,

Board Member

Roby Economic Development
Lions Club of Roby, Board of Directors
Fisher County Livestock Committee,

Vice President, Secretary

Roby High School, Chairman of Main

Event–Drug Free Night

4-H, Senior Leader

W E A T H E R F O R D N A T I O N A L B A N K

M A I N O F F I C E

D I R E C T O R S

101 North Main
Weatherford, Texas
Chartered 1984
Four Offices in Weatherford and Aledo

S E N I O R O F F I C E R S

Doyle Lee
Chairman of the Board, President and
Chief Executive Officer

Bob Bradberry
Executive Vice President

Paul Baker
Senior Vice President

Jean Bryan
Senior Vice President

Larry V. Mangrem
Senior Vice President and Cashier

Louis Sneed
Senior Vice President

Brookes B. Worthington
Senior Vice President

Doyle Lee
Chairman of the Board, President and
Chief Executive Officer

Stephen G. Brogdon, D.D.S.
General and Cosmetic Dentistry

Mac A. Coalson
Real Estate and Ranching

Bob Kingsley
Host and Producer, American Country
Countdown

Dave Lang
President, Dralco, Inc.

Kenneth T. Murphy
First Financial Bankshares, Inc.

Ronald E. Schneider
First Financial Bankshares, Inc.

Walter F. Worthington
Investments

DOYLE LEE
Chairman of the Board,
President and Chief
Executive Officer

Parker County Deposit Market Share27%

IN THOUSANDS

Assets

Loans

Deposits

Equity

Net Income

Return on Assets

Return on Equity

12-31-01

$201,768

91,096

182,696

18,595

3,721

1.99%

20.83

12-31-00

$187,851

88,136

170,512

16,727

3,524

2.01%

22.08

COMMUNITY LEADERSHIP

BOB BRADBERRY
Weatherford Chamber of Commerce,

Committee Assignment

Rotary Club

PAUL BAKER
Weatherford Chamber of Commerce,

Government Affairs

Weatherford Independent School District,

Partners In Education

First Baptist Church, Personnel Committee
Lions Club, Board Member

LARRY V. MANGREM
Parker County Crimestoppers, Treasurer
Weatherford Noon Lions Club,
Secretary and Treasurer

LOUIS SNEED
Aledo Cemetery, Board Member
East Parker County Chamber of Commerce,

Treasurer

Parker County Extension Program Council,

Executive Board, Chairman

Coder Elementary, Site Base Committee
Boy Scouts of America

BROOKES B. WORTHINGTON
Brazos Valley Cutting Horse Association
North Texas Cutting Horse Association
National Cutting Horse Association
American Quarter Horse Association
Parker County Sheriff’s Possee
Sheriff’s Association of Texas
Baylor Letterman’s Association
American Diabetes Association
Cancer Care Services

SIDNE BURNS
Parker County Builders’ Association
Parker County Board of Realtors
Weatherford/Parker County Chamber of

Commerce, Ambassador

Springtown Christian Business Women
Weatherford/Parker County Chamber of

Commerce

Springtown Chamber of Commerce
Weatherford Rotary Club

JAMES MAY
Weatherford Library Board
Civic Development, Inc.
Historic Weatherford Business Association
Parker County Committee on Aging Board
Springtown Chamber of Commerce
Weatherford Rotary Club

DEBBIE JAMES
Weatherford College, Computer Science
Department Advisory Committee

Weatherford Independent School District,

Career and Technology Education Committee

Order of the Arrow, Assistant Advisor,
Fall Coat and Toy Drive Advisor

Native American Dance, Out Reach Assistant
Citizen Potawatomi Nation
Texas Indian Hobbiest Association

M O R E C O M M U N I T Y L E A D E R S H I P

First National Bank
of Abilene

LAWRENCE BERTSCH
Exchange Club
Cultural Affairs Council
United Way of Abilene
Downtown Association

KAY BERRY
Abilene Rotary Club
Keep Abilene Beautiful
Junior Achievement, Instructor
Texas Scholars, Instructor
Junior League of Abilene

TOM BOECKING
Abilene Chamber of Commerce, Military

Affairs Committee
Abilene Rotary Club
Home Builders Association
Abilene Regional Hospital, Board Member

STELLA DUNLAP
YWCA, Vice President and President-Elect
Abilene Woman’s Club, Treasurer
West Texas Girl Scout Council, Budget and

Finance Committee

United Way of Abilene, Program Review
Panel for Assisting People in Crisis

Abilene Business & Estate Planning Council,

Board of Directors

JIM HOUSTON
Abilene Chamber of Commerce
Food Bank of Abilene
American Cancer Society
Hendrick Hospice & Noah Project

Diamondback Classic

TOMMY MARTIN
Disability Resources Inc., Planned Giving

Advisory Council

Christian Homes of Abilene, Planned Giving

Focus Group

BEN F. MCANALLY
Texas Bankers Association, District 7

Chairman

SWACHA Board of Directors
Texas Bankers Association, BankPac

Board Member

United Way of Abilene, Campaign Cabinet

DOUG MCINTYRE
Texas Bankers Association, Trust

Administrative Council Chairman
Expo Center of Taylor County, Executive

Board Member

Ben Richey Boys Ranch, Board Member
Abilene Convention & Visitors Bureau,

Board Member

Taylor County Veteran’s Land Board,

Board Member

JERRY NELSON
Retired Officers’ Association
Episcopal Church of the Heavenly Rest

Foundation, Board President

JANET O’DELL
Abilene Board of Realtors
Big Country Homebuilders
Women Council of Realtors
Women Council of Homebuilders
Abilene Mortgage Bankers

First Financial Bank,
National Association,
Cleburne

MICHELLE FAGAN
Leadership Cleburne
Cleburne Early Bird Kiwanis, Treasurer

LISA ROYE
Society for Human Resources Management

MARGARET BEARD
Cleburne Chamber of Commerce, Ambassador
Lions Club
Meals on Wheels, Board Member

San Angelo
National Bank

TOM O’NEIL
Founder Lions Club, Director
Taylor County Extension Office, Agriculture

Committee Chairman

SEBASTIAN GUERRERO
San Angelo Independent School

District, Mentor

United Way of Abilene, Professional Division

Tom Green County United Way,

Chairman

GUINN SMITH
Boys and Girls Club of Abilene, Past President
Ablilene Chamber of Commerce, Military

Affairs Committee

Hardin Simmons University Academic

Foundation

RANDY SPIVA
YMCA Board
United Way of Abilene, Program Review Panel,

2002 Campaign Account Executive
National Association of Royalty Owners,

Texas, Director

Abilene Geological Society
American Association of Petroleum Geologists

DENNIS TARRANT
Texas Bankers Association, District 7

Treasurer

Texas Lessor’s Association
Kiwanis Club’s George Hixson Award

RICHARD YOUNG
Food Bank of Abilene, Treasurer,
Budget Committee Chairman,
Personnel Committee

Day Nursery of Abilene, President-Elect,
Administrative Committee Chairman

Board Member

Pan American Golf Association,

Scholarship Committee

South Side Lions Club, Scholarship

Committee

REBA PRIDDY
San Angelo Independent Business, Advisory

Committee

ARMANDO TREVINO
Salvation Army, Board Member
Community Action Council
South Side Lions Club
La Clinica Esperanza, Finance Chairman
Diocesan Finance Council
St. Mary’s Church, Finance Committee

RUTH WHEELER
San Angelo Chamber of Commerce, Business

and Retention Committee

Howard College, Business Mentor Committee

BARBARA WRIGHT
West Side Lions Club, Secretary

and Treasurer

San Angelo Lions Charities, Secretary

and Treasurer

C O R P O R A T E I N F O R M A T I O N

A N N U A L M E E T I N G

T R A N S F E R A G E N T

OFFICERS

DIRECTORS

Tuesday, April 23, 2002
Abilene Civic Center
1100 North Sixth Street
Abilene, Texas 79601

C O R P O R AT E O F F I C E S

400 Pine Street
Abilene, Texas 79601
(915) 627-7155
ffin@abilene.com
www.ffin.com

C O R P O R AT E M A I L I N G
A D D R E S S

P.O. Box 701
Abilene, Texas 79604

C O M M O N S T O C K L I S T I N G

The NASDAQ Stock
Market®
Symbol: FFIN

F O R F I N A N C I A L
I N F O R M AT I O N , C O N TA C T :

Curtis R. Harvey
Executive Vice President and
Chief Financial Officer
(915) 627-7159

The Bank of New York
1-800-524-4458

Address Shareholder Inquiries To:
Shareholder Relations Dept.
P.O. Box 11258
Church Street Station
New York, NY 10286

E-mail Address:
shareowner-svcs@
bankofny.com

The Bank of New York
Stock Transfer Website:
www.stockbny.com

Send Certiﬁcates For
Transfer and Address Changes To:
Receive and Deliver Dept.
P.O. Box 11002
Church Street Station
New York, NY 10286

I N D E P E N D E N T P U B L I C
A C C O U N TA N T S

Arthur Andersen LLP

Kenneth T. Murphy
Chairman of the Board

F. Scott Dueser
President and Chief Executive Officer

Curtis R. Harvey
Executive Vice President and Chief
Financial Officer

Ronald E. Schneider
Executive Vice President

Robert S. Patterson
Senior Vice President, Trust Services

Gary S. Gragg
Senior Vice President

Bill Rowe
Vice President, Investment Securities

Sandy Lester
Secretary-Treasurer

June D. Wideman
Administrative Officer

C O M M O N S T O C K M A R K E T V A L U E

A N D D I V I D E N D D A T A

QUARTER

Fourth

Third

Second

First

Fourth

Third

Second

First

2 0 0 1

2 0 0 0

DIVIDENDS

HIGH

$31.88

32.91

31.44

27.15

LOW

$27.20

27.00

25.00

23.40

$30.10

29.03

31.00

26.60

$25.70

$22.80

$25.15

26.10

23.40

24.80

21.40

19.15

19.80

25.65

22.00

21.00

$0.300

0.300

0.264

$0.264

0.264

0.240

Kenneth T. Murphy
Chairman of the Board

Joseph E. Canon
Executive Director,
Dodge Jones Foundation

Mac A. Coalson
Real Estate and Ranching

David Copeland
President, Shelton Family
Foundation

F. Scott Dueser
President and Chief Executive
Officer

Derrell Johnson
Senior Vice President,
Kimley-Horn & Associates, Inc.

Kade Matthews
Ranching and Investments

Raymond A. McDaniel, Jr.
Investments

Bynum Miers
Ranching

Dian Graves Stai
Investments

James Parker
Parker Properties, Inc.

Jack D. Ramsey, M.D.
Physician

Craig Smith
Chairman, President and
Chief Executive Officer,
Hereford State Bank

F.L. (Steve) Stephens
Retired Chairman and
Chief Executive Officer,
Town & Country Food Stores, Inc.

Walter F. Worthington
Investments