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BOK Financial650 EMPLOYEES 2200 TOTAL HOURS On Columbus Day, October 10, 2016, more than 650 First Financial associates took part in a company-wide volunteer initiative: the First Financial Day of Service. In 27 locations across the Lone Star state, we volunteered to serve at a variety of worthy nonprofit groups and organizations. From preparing and delivering meals to cleaning, painting and landscaping, First Financial associates pulled together to make it a day dedicated to serving others. What’s more, we also paid visits to veterans, the homebound and residents of assisted living facilities in our communities. The Day of Service was both a productive and rewarding day for all involved. We are so grateful for the opportunity to give back to the Texas communities where we proudly work and live as we do throughout the year. 27 BANK LOCATIONS 23 COMMUNITY Partners Served A LETTER TO OUR SHAREHOLDERS. We have always believed that we are only as good as the communities we serve; therefore, one of our continuing goals has been to serve as a catalyst for improving the quality of life and economic status of the communities in our marketplaces. One way we pursued that goal in 2016 was by designating the Columbus Day bank holiday (October 10, 2016) as a voluntary Day of Service for our company. Under the direction of a group of young leaders here at the Company, our Service Improvement Team planned, organized and executed a one-day event in which we partnered with local nonprofit organizations to provide assistance to the senior population in 27 locations across the First Financial footprint. Projects included meal preparation and delivery, landscaping, painting, visits to homebound individuals, collection of food and provision of continued education about the Bank’s program to prevent financial exploitation. We are so proud that more than 650 of our employees across the state chose to use their bank holiday to assist local nonprofits in our senior communities. It proved to be a truly outstanding Day of Service, filled not only with hard work and accomplishment but also with much fun and spirited team building. FINANCIAL RESULTS We are pleased that our earnings increased for the 30th consecutive year, despite continued low interest rates and commodity prices. However, we are not pleased with our 2016 earnings performance, and truly think that we should have done better. We are now diligently working on the areas where we fell short – growing loans, improving our interest rate margin, increasing fee income, controlling expenses and reducing loan losses – as well as actively looking for strategic acquisitions to better utilize our strong capital position and improve earnings. Net income for 2016 grew 4.4 percent to $104.8 million from $100.4 million in 2015. Basic earnings per share rose to $1.59 from $1.55. Net interest income, our largest source of revenue, increased 4.3 percent to $226.8 million from $217.5 million a year earlier. The persistence of extremely low interest rates continued to put pressure on our net interest margin, a key profitability metric that expresses net interest income as a percentage of average interest-earning assets. Our net interest margin for 2016 decreased to 4.08 percent from 4.12 percent in 2015, but it was still a very respectable result and placed us in the 92nd percentile of our peer banks. The provision for loan losses increased 5.4 percent to $10.2 million from $9.7 million in 2015. The increase was due primarily to one problem loan on which we realized a $4.3 million loss. However, credit metrics improved during the year, so that by December 31, 2016, nonperforming assets as a percentage of loans and foreclosed assets had decreased to 0.86 percent from 0.89 percent at year-end 2015. Classified loans totaled $127.8 million at December 31, 2016, down from $149.4 million a year earlier. Our oil and gas industry exposure declined throughout the year, falling to 2.3 percent of total loans at the end of 2016 from 2.9 percent at the end of 2015. Although credit metrics in the oil and gas portfolio have improved with the increase in oil and gas prices, we continue to see some weakness in this sector. Noninterest income grew 15.9 percent to $85.1 million from $73.4 million, while noninterest expense rose 10.9 percent to $165.8 million from $149.5 million. We again outperformed our peer group of banks on several key financial metrics. Our return on average assets was 1.59 percent compared with 1.00 percent for our peers. Return on average equity was 12.36 percent versus our peers’ 9.12 percent. And our efficiency ratio, which expresses expenses as a proportion of revenues, was also much better—49.22 percent as opposed to our peers’ 62.77 percent. Our balance sheet grew, but at a slower pace than in 2015. Consolidated assets expanded 2.2 percent to $6.81 billion from $6.67 billion at the end of 2015. Loans grew 1.0 percent to $3.38 billion from $3.35 billion. Deposits increased 5.6 percent to $5.48 billion from $5.19 billion. Shareholders’ equity at year-end was $837.9 million, up 4.1 percent from $805.0 million. Lower oil and gas prices continued to impact not only our bank subsidiary, but also our First Financial Trust & Asset Management subsidiary. The trust division saw its fees from the oil and gas sector drop $296,000 during 2016, after having dropped even more during 2015. However, the division’s total fee income for 2016 grew by $384,000, or 2.0 percent, to $19.6 million. The increase was due to solid growth in the market and book values of the assets managed. Total trust assets under management at year-end reached a book value of $3.37 billion, a 10.1 percent increase from $3.06 billion a year earlier. The market value of the portfolio grew 13.5 percent to $4.37 billion from $3.85 billion in 2015. Net income after tax for the trust company totaled $7.2 million in 2016, down 3.5 percent from $7.4 million in 2015. REAL ESTATE ACTIVITIES In June of 2016, we opened our four-story building in Fort Worth at the intersection of Forest Park Boulevard and Rosedale Street. This location just west of downtown houses the bank branch and the mortgage and trust offices, and gives our customers easy access from Texas Highway 121 and Interstate 30. In August, we opened a new facility in Cisco at 2006 Conrad Hilton Boulevard, and in September, we opened one in Odessa at 3555 Billy Hext Road. All of these facilities are state-of-the-art and provide our customers with the latest in banking services. We continued our strategy of selling our large older facilities, which no longer meet the needs of today’s banking customers. Our practice has been to sell some of the buildings at below-market prices to local municipalities that need extra space. This is a win- win transaction because the municipalities get the square footage they need at a very reasonable cost, while we realize tax benefits from gifting a percentage of the buildings’ value. We then construct smaller, modern buildings that better meet our customers’ needs and are much more cost-efficient to maintain. We plan to continue implementing this strategy during 2017. In March 2016, we sold our Weatherford downtown location to Parker County. The management team and the other employees at this location have moved to a newly expanded and remodeled College Park facility at 101 College Park Drive. In San Angelo, we contracted to sell our large downtown facility to the city on May 1, 2017, demolished the drive-in location a block away, and are building the new facility on that corner at Concho Avenue and Koenigham Street. This building, which has been designed to be the entrance to San Angelo’s Historic District, will open April 30th of this year. In December 2016, we sold our Orange facility to the city of Orange, and we are now designing an ultramodern building a block away, which we expect to occupy in early 2018. Also last year, we purchased the old Citibank location at 5257 Buffalo Gap in Abilene, and we are remodeling that building to move our branch and mortgage operations from the leased building at 4400 Buffalo Gap Road. The new location will provide 21st- century banking and better access for our mortgage and banking customers. We will keep our drive-in facility open at 4400 Buffalo Gap Road so that our customers in south Abilene will have drive-in locations on both sides of this very busy street. MANAGEMENT ENHANCEMENTS One of the many things I am most proud of in this company is the cadre of young bankers who are ready to move up into positions of more responsibility. During 2016, we continued the strategy of moving our young professionals into management positions to acknowledge their accomplishments, utilize their vitality and strengths and secure management succession. In January 2016, Trent Swearengin was promoted to President of our Stephenville Region after having served as President of our Eastland Division for the previous four years. Trent has been with the Company since 2001, serving in a number of positions through those years. At the same time, David Bailey, our senior lender in Eastland who has been with the Company for 12 years, became President of our Eastland Division. In September of 2016, Jeff Casey was promoted to Executive Vice President and Chief Digital Officer of our technology company, First Technology Services, Inc. Jeff has been with the Bank for more than nine years and has held numerous positions in the technology company. His promotion reflects the utilization of his expertise to advance our Internet and mobile technologies. That same month, Mike Boyd, CEO and Chairman of First Financial Bank, San Angelo Region, named Chris Evatt as the new President of the Region. Chris has been with the Bank for more than 16 years and has held numerous lending positions in Stephenville and Abilene. Monica Houston was named Executive Vice President of Retail Banking and Training in December. Monica began her banking career 22 years ago as a teller with the Bank, and since then has held positions in retail, lending, technology and training. Most recently, in January 2017, Jay Gibbs, Chairman and CEO of First Financial Bank, Weatherford Region, announced the promotion of Justin Hooper to President of the Region, where he was previously senior lender. Justin has been with the Company more than 14 years; he started as a loan review officer and has held several lending positions through those years. We are very excited about our younger group of bankers moving up the ladder, and we are confident that all of these promotions have added depth and experience to our overall management team. LOOKING AHEAD Although 2016 was one of the most challenging years that we have experienced in a while, the Texas economy and our local economies stayed fairly consistent. The escalation of oil and gas prices certainly helped, but this sector continues to experience some weakness. We have several initiatives under way to grow loans and deposits, enhance income and decrease expenses so that we can continue to deliver solid results in the coming years. With the presidential election behind us, there seem to be more banks interested in putting themselves up for sale, and we are having a number of conversations with potential sellers. As we have in the past, we are proceeding strategically, searching diligently for well-managed banks at the right price that fit our culture and will bring long-term value to our company. “You First” is our tagline, because we strongly believe that putting our customers and stockholders first is the only way to properly do our job. There is no question that we work for you. Thank you for your business, your ownership and your continued support of this fine company. Thank you. F. Scott Dueser Chairman, President and CEO A Letter To Our Shareholders :: Page 5 THE 2017 WALTER JOHNSON AWARD JULIA JONES MATTHEWS 1918-2016 The Walter Johnson Award is bestowed upon a person who has contributed greatly and advanced our company to new heights for customers, shareholders and employees just as Walter Johnson did. The Award has been given only six times in the last 12 years and is being bestowed for the seventh time to the Matthews’ family in memory of Julia Jones Matthews. This is the first time we have ever selected someone who is not an employee; however, Judy was the epitome of a loyal customer, stockholder, tenant and friend who had a great interest in the Company and was instrumental in helping First Financial become one of the top banks in the country by improving the economy and quality of life in West Texas, sending us business and giving her support and encouragement. She was a lifelong customer from a family who has banked with us for generations. Although she never served on our Board of Directors, the family has had Board representation for more than 62 years. Many of our top customers, both nonprofit and for profit organizations, would not be in existence today if Judy had not helped them through the tough times and inspired them to succeed. Judy Matthews forever changed the landscape of West Texas. Over a lifetime of “anonymous” philanthropy, she rendered a tour de force for her hometown, quietly, exquisitely, selflessly. Her gracious spirit and her generous heart worked powerful and positive changes among legions throughout this community and beyond. She was the quintessence of the scriptural verse “It is more blessed to give than to receive.” And so it was. My fondest memories of Judy are the times when we would have lunch together at Cypress Street Station. I always had to be well prepared because that morning she had already read the Wall Street Journal, watched the latest news and was ready to ask questions to make sure I was on my toes. I was always eager to hear her stories about the history of Abilene, which helped me to understand our roots and the importance of being a catalyst for improvement. I personally believe that Judy had more influence on the betterment of Abilene than anyone in the history of the City. Julia Jones Matthews and Walter Johnson were close friends and contemporaries, and I know that he would be proud that we are bestowing this honor upon her and her family. We will miss her greatly, but she has left us with a great legacy that will be enjoyed for generations to come. F. Scott Dueser Chairman, President and CEO FIRST FINANCIAL BANK AND TRUST LOCATIONS Abilene* ............. 325.627.7000 Acton ................. 817.573.6900 Albany ................ 325.627.7953 Aledo ................. 817.341.5200 Alvarado ........... 817.774.5150 Beaumont* ....... 409.600.6456 Boyd .................. 940.683.8760 Bridgeport ........ 940.683.8700 Brock ................. 817.598.2650 Burleson ............ 817.774.5175 Cisco ................. 254.629.6111 Cleburne ........... 817.774.5100 Clyde ................. 325.627.7910 Conroe ............... 936.760.1888 Cut and Shoot.... 936.788.2121 Decatur ............. 940.683.8780 Eastland ............ 254.629.6145 Fort Worth* ........ 817.410.4979 Glen Rose ......... 254.897.4808 Granbury .......... 817.573.6900 Grapevine ......... 817.722.8980 Hereford ............ 806.363.8200 Huntsville .......... 936.295.2224 Keller .................. 817.329.8625 Magnolia............ 936.273.4700 Mauriceville ....... 409.745.3755 Merkel ................ 325.928.1111 Midlothian ........ 972.723.7100 Mineral Wells ..... 940.327.5400 Montgomery ..... 936.597.5997 Moran ............... 325.627.7953 Newton .............. 409.224.7506 New Waverly ..... 936.344.2224 Odessa* ............. 432.367.8910 Orange................ 409.883.3563 409.736.5951 Port Arthur........... Ranger ............... 254.629.6729 Rising Star............ 254.629.6703 Roby .................... 325.776.2261 San Angelo*......... 325.659.5900 Southlake ............. 817.410.2915 Stephenville*........ 254.965.5036 Sweetwater* ......... 325.235.6600 Tomball .................. 281.516.7835 Trent ....................... 325.862.6121 Trophy Club............. 817.329.8615 Vidor........................ 409.769.8536 Waxahachie ............ 972.723.7156 Weatherford............ 817.598.2500 Willis........................ 936.890.3500 Willow Park ............. 817.598.2780 * Trust Office and Bank location Walter Johnson Award | Bank Locations :: Page 7 FINANCIAL HIG HLIGH TS IN THOUSANDS (except for share data) IN THOUSANDS (except for share data) FOR THE YEAR 2016 2015 % INCREASE FOR THE YEAR 2016 2015 % INCREASE NET INCOME $104,774 $100,381 4.38% AT YEAR-END Basic Earnings (PER SHARE) $1.59 $1.55 Dividends Declared $46,246 $40,353 Dividends (PER SHARE) $0.70 $0.62 2.58% 14.60% 12.90% Assets Securities Loans Deposits $6,809,931 $6,665,070 2.17% $2,860,958 $2,734,177 4.64% $3,384,205 $3,350,593 1.00% $5,478,539 $5,190,169 5.56% $6,599,199 $6,223,804 $2,773,941 $2,689,641 $3,333,241 $3,090,538 $5,135,603 $4,906,819 6.03% 3.13% 7.85% 4.66% Shareholders’ Equity $837,885 $804,986 4.09% Book Value Per Share $12.68 $12.20 3.93% Trust Assets (Book Value) $3,373,554 $3,059,901 10.25% AVERAGES Assets Securities Loans Deposits Shareholders’ Equity $847,866 $738,289 14.84% NET INCOME GROWTH (in thousands) KEY RATIOS 2016 2015 2012 $74,225 2013 $78,868 2014 $89,559 2015 $100,381 2016 $104, 774 Return On Avg. Assets 1.59% 1.61% Return On Avg. Equity 12.36% 13.60% Year-End Equity/Assets 12.30% 12.08% Efficiency 49.22% 47.61% RETURN ON AVERAGE EQUITY EFFICIENCY RATIO 2012 13.85% 2013 13.75% 2014 14.00% 2015 13.60% 2016 12.36% 2012 48.14% 2013 50.19% 2014 49.24% 2015 47.61% 2016 49.22% SELECTED FINANCIAL DATA IN THOUSANDS (except for share data) YEAR-END TOTAL ASSETS SHAREHOLDERS’ EQUITY NET INCOME BASIC EARNINGS (PER SHARE) CASH DIVIDENDS (PER SHARE) STOCK DIVIDENDS AND SPLITS YEAR-END BOOK VALUE (PER SHARE) YEAR-END MARKET VALUE (PER SHARE) 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Ten-Year Compound Growth Rate $3,070,309 $335,495 $49,490 $0.80 $3,212,385 $368,782 $53,164 $0.86 $3,279,456 $415,702 $53,797 $0.86 $3,776,367 $441,688 $59,659 $0.96 $0.42 $0.45 $0.46 $0.46 – – – – $5.39 $5.91 $6.66 $7.03 $12.55 $18.41 $18.08 $17.09 $4,120,531 $508,537 $68,369 $1.09 $0.48 3/2 split $8.08 $16.72 $4,502,012 $556,963 $74,225 $1.18 $5,222,208 $587,647 $78,868 $1.24 $0.50 $0.52 – – $8.84 $9.18 $19.51 $33.06 $5,848,202 $681,537 $89,559 $1.40 $0.55 2/1 split $10.63 $29.88 $6,665,070 $804,986 $100,381 $1.55 $6,809,931 $837,885 $104,774 $1.59 $0.62 $0.70 9.10% 10.78% 8.57% 7.95% 5.76% – – – $12.20 $30.17 $12.68 $45.20 10.11% 12.47% Adjusted for stock dividends and splits 2015 COMMON STOCK MARKET VALUE AND DIVIDEND DATA NET INTEREST MARGIN QUARTER HIGH LOW CLOSE DIVIDENDS Fourth $36.51 $29.56 $30.17 Third $36.20 $29.21 $31.78 Second $35.32 $27.16 $34.64 First $30.17 $24.46 $27.64 $0.16 $0.16 $0.16 $0.14 2012 4.28% 2013 4.22% 2014 4.20% 2015 4.12% 2016 4.08% 2016 COMMON STOCK MARKET VALUE AND DIVIDEND DATA RETURN ON AVERAGE ASSETS QUARTER HIGH LOW CLOSE DIVIDENDS Fourth $46.70 $35.05 $45.20 Third $37.06 $30.95 $36.44 Second $34.50 $27.72 $32.79 First $30.75 $24.12 $29.58 $0.18 $0.18 $0.18 $0.16 2012 1.75% 2013 1.64% 2014 1.65% 2015 1.61% 2016 1.59% Financial Highlights | Selected Financial Data :: Page 9 ABILENE REGION Abilene | Clyde | Moran | Albany | Odessa | Eastland | Ranger | Rising Star | Cisco | Sweetwater | Merkel | Trent | Roby SENIOR OFFICERS Ronald D. Butler II Chairman and CEO Marelyn Shedd President Kirby N. Andrews President, Sweetwater Division David W. Bailey President, Eastland Division Tim Collard Executive Vice President Commercial Lending Rodney Foster Executive Vice President Senior Lending Officer Sweetwater Monica Houston Executive Vice President Retail Banking and Training Janet O’Dell Executive Vice President Mortgage Loan Officer Charles E. Tennesson Executive Vice President CFO and Chief Operations Officer Rick Waldraff Executive Vice President Senior Lender / Commercial Lending Michael Wolverton Executive Vice President Consumer Lending Jeff Adams Senior Vice President Debbie Anthony Senior Vice President Vanessa Faz Senior Vice President Patty Fuentes Senior Vice President Jim Goldston Senior Vice President Tony Gorman Senior Vice President Jennifer Harper Senior Vice President Evan Harris Senior Vice President Candi Kanady Senior Vice President Bobby Martin Senior Vice President Marshall Morris Senior Vice President Daniel Neely Senior Vice President Corie O’Connor Senior Vice President Ryan Parrish Senior Vice President Mark Pierce Senior Vice President Fernando Quintana Senior Vice President Steve Simmel Senior Vice President Britt Stuart Senior Vice President Dennis Tarrant Senior Vice President Steve Waller Senior Vice President Gary West Senior Vice President IN THOUSANDS ASSETS LOANS DEPOSITS NET INCOME RETURN ON AVG. ASSETS EFFICIENCY RATIO Dec. 31, 2015 $2,615,211 $990,602 $1,175,019 $36,813 1.51% Dec. 31, 2016 $2,401,229 $981,633 $1,312,625 $38,214 1.73% 41.22% 42.18% ABILENE Day of Service In Abilene, employees split into teams to clean, paint and landscape 4 local senior centers, collect more than 3,000 lbs. of groceries donated by 4 supermarkets, deliver gifts to 322 nursing home residents at 6 facilities, deliver care packages to the homes of local veterans, complete yard work and home repair at 20 residences and present the Bank’s Fraud Prevention program to 97 foster grandparents. RONALD D. BUTLER II Chairman and CEO MARELYN SHEDD President MAIN OFFICE 400 Pine St. Abilene, TX 79601 325.627.7000 KIRBY N. ANDREWS President, Sweetwater Divsion MAIN OFFICE 201 Elm St. Sweetwater, TX 79556 325.235.6600 DAVID W. BAILEY President, Eastland Division MAIN OFFICE 201 E. Main St. Eastland, TX 76448 254.629.6100 ABILENE REGION (CONTINUED) REGIONAL DIRECTORS Ronald D. Butler II Chairman and CEO Marelyn Shedd President Kirby N. Andrews President, Sweetwater Division David W. Bailey President, Eastland Division J. Michael Alexander President James M. Alexander & Co. David Copeland, CPA President, SIPCO, Inc. and Shelton Family Foundation Joe Crawford President Abilene Aero, Inc. Doug Crawley Rancher, Real Estate Mike Denny President Batjer and Associates Katie Alford President and CEO Community Foundation of Abilene Murray Edwards Principal The Edwards Group Donna J. Boatright CEO Rolling Plains Memorial Hospital Jeff Branson General Partner Williamson-Branson Real Estate Tucker S. Bridwell President Mansefeldt Investment Corp. Louis Brooks, Jr. Rancher Paul Cannon Shareholder, President McMahon, Surovik, Suttle, P.C. Jim Farrar Attorney Allan D. Frizzell Executive Vice President Enrich Oil Corporation Jim Keffer President EBAA Iron Sales, Inc. Tim Lancaster President and CEO Hendrick Health System Jay Lawrence President MAL Enterprises, Inc. Ronnie Ledbetter Owner Ledbetter Insurance Agency J.V. Martin Retired First Financial Bank President Kirk Massey Investments Larry May May & Hrbacek CPAs Stanley Morris, Jr. Investments Mike T. Perry Insurance, Investments Thomas L. Rees, Jr. Rees, Rees & Fuller Attorneys Dale Squiers, RPh Owner Dalsan Enterprises Leigh Taliaferro, M.D. Physician EASTLAND Day of Service SWEETWATER Day of Service Eastland employees conducted a coat and blanket drive, delivered Meals on Wheels in 3 markets and hosted lunch for local caretakers, home-health agencies and pastors and presented the Bank’s Understanding Financial Exploitation of the Elderly program to help prevent crimes against the elderly. The Sweetwater staff partnered with SNAP (Senior Nutrition Activities Program) to deliver more than 50 meals to the homebound. They also visited the homes of 7 senior citizens to complete much needed home projects such as cleaning, landscaping and minor repairs. They even watered the dog! Bank Information :: Page 11 CLEBURNE REGION Cleburne | Burleson | Alvarado | Midlothian | Waxahachie TOM O’NEIL Chairman, President and CEO MAIN OFFICE 200 N Ridgway Dr. Cleburne, TX 76033 817.774.5100 SENIOR OFFICERS REGIONAL DIRECTORS Tom O’Neil Chairman, President and CEO Tom O’Neil Chairman, President and CEO Dereece Howell Executive Vice President Chief Operations Officer Duane Thomas Executive Vice President Senior Lender Alecia Bland Senior Vice President Kim Hamilton Senior Vice President Russell Phillips Senior Vice President Lisa Roye Senior Vice President Chris Schjetnan Senior Vice President Stacey Sloan Senior Vice President Ray Beavers Retired General Manager and CEO United Cooperative Services Ronald D. Butler II First Financial Bankshares, Inc. Robert Childress III Childress Engineers Mark Hill Utility Construction Consultant Tim Lyness Lyness Construction, LP Dr. Joe Martin Cleburne Eye Clinic Jack Scott Bell-Scott Insurance Group IN THOUSANDS ASSETS LOANS DEPOSITS NET INCOME RETURN ON AVG. ASSETS EFFICIENCY RATIO Dec. 31, 2015 $401,160 $217,286 $352,744 $6,899 Dec. 31, 2016 $523,789 $206,104 $475,887 $7,108 1.70% 1.68% 50.67% 50.62% CLEBURNE Day of Service Cleburne employees packed 710 bags with more than 7,000 food items and delivered them through 17 Meals on Wheels routes in 5 markets. CONROE REGION Conroe | Montgomery | Magnolia | Willis | Tomball | Cut and Shoot | Huntsville | New Waverly SAM W. BAKER Chairman, President and CEO MAIN OFFICE 1800 W. White Oak Terrace Conroe, TX 77304 936.760.1888 ROBERT PATE President, Huntsville Division MAIN OFFICE 33 SH 75 North Huntsville, TX 77320 936.295.2224 SENIOR OFFICERS Sam W. Baker Chairman, President and CEO Terry Doak Senior Vice President Robert Pate President, Huntsville Division G. Bart Griffith Executive Vice President Chief Lending Officer Lee Warren Executive Vice President Chief Operations Officer Andrew Cantu Executive Vice President Jed Crow Executive Vice President Michelle Murray Executive Vice President Treasury Management Chris Baughman Senior Vice President Bobby Brennan Senior Vice President Mortgage Loan Officer Heidi Carney Senior Vice President Professional & Executive Lending Shawn Knox Senior Vice President Anthony Olivieri Senior Vice President REGIONAL DIRECTORS Sam W. Baker Chairman, President and CEO Robert Pate President, Huntsville Division Donnie Buckalew Buckalew Chevrolet John J. Certa, Jr. Owner Team Auto Group Casey Collum Owner Empire Truss, Ltd. Chris De Milliano Operations Manager Steely Lumber Company Candyce F. Dixon CPA Dan Dominey DBD Interest F. Scott Dueser First Financial Bankshares, Inc. Robert C. Ernst, Jr. Owner Ernst Jewelers J. Bruce Hildebrand, CPA First Financial Bankshares, Inc. Curtis Montgomery, M.D. Physician Johnny Peet, Jr., M.D. Physician John Sebastian Conroe Golf Cars Lloyd Tisdale Investments IN THOUSANDS ASSETS LOANS DEPOSITS NET INCOME RETURN ON AVG. ASSETS EFFICIENCY RATIO Dec. 31, 2015 $585,010 $405,759 $488,708 * * Dec. 31, 2016 $587,180 $409,404 $486, 174 $7,964 1.35% *First Bank, NA., Conroe was acquired on July 31, 2015. * 55.59% CONROE Day of Service Employees in Conroe and Huntsville visited 5 local senior centers and retirement facilities cooking and serving more than 100 hamburgers to the residents. They also presented the Understanding Financial Exploitation of the Elderly program. Bank Information :: Page 13 FORT WORTH REGION SENIOR OFFICERS REGIONAL DIRECTORS Martin J. Noto, Jr. President and CEO Les Mariotti Executive Vice President Chief Operations Officer Mike Hopkins Senior Vice President Murray Edwards Chairman of the Board Principal, The Edwards Group Martin J. Noto, Jr. President and CEO Larry Anfin Past CEO Coors Distributing of Fort Worth Smith A. Brownlie III CPA and Co-Founder Brownlie & Braden Ronald D. Butler II First Financial Bankshares, Inc. Mary Lee Cruz Founding Partner E Source, Inc. Stephen Kimmel Chief Financial Officer Cook Children’s Health Care System Matt Morris President Gus Bates Insurance Paul Poston President Wellington Insurance George Robertson Chairman & CEO Emist Innovations, Inc. MARTIN J. NOTO, JR. President and CEO MAIN OFFICE 1000 Forest Park Blvd. Fort Worth, TX 76110 817.410.4970 IN THOUSANDS ASSETS LOANS DEPOSITS Dec. 31, 2015 $48,534 $46,371 $10,977 Dec. 31, 2016 $63,736 $48,566 $40,956 FORT WORTH Day of Service Our Fort Worth team partnered with Tarrant Area Food Bank to sort 10,200 lbs. of food products that will help provide 8,500 meals in the community. HEREFORD REGION MIKE MAULDIN Chairman, President and CEO MAIN OFFICE 212 E. Third St. Hereford, TX 79045 806.363.8200 SENIOR OFFICERS REGIONAL DIRECTORS Mike Mauldin Chairman, President and CEO Mike Mauldin Chairman, President and CEO Tim Laws Executive Vice President Chief Lending Officer Robert de la Cruz Senior Vice President Ronald D. Butler II First Financial Bankshares, Inc. Steve Lewis, D.V.M. Manager and Sr. Partner Hereford Veterinary Clinic Kade Matthews Ranching and Investments Sally Noyce Human Resources Manager Quality Distillers Grain Panhandle Express Jerry Stevens Owner, Stevens 5-Star Car and Truck Center Johnny E. Trotter President and CEO Livestock Investors, Ltd. IN THOUSANDS ASSETS LOANS DEPOSITS NET INCOME RETURN ON AVG. ASSETS EFFICIENCY RATIO Dec. 31, 2015 $176,125 $136,007 $148,152 $3,056 Dec. 31, 2016 $186,220 $131,493 $156,834 $3,524 1.78% 1.88% 45.04% 45.75% HEREFORD Day of Service Team Hereford cooked and served 175 hamburger meals to residents of a local retirement facility and presented the Understanding Financial Exploitation of the Elderly program. Bank Information :: Page 15 MINERAL WELLS REGION SENIOR OFFICERS REGIONAL DIRECTORS Kenneth A. Williamson Chairman, President and CEO Kenneth A. Williamson Chairman, President and CEO Les Mariotti Executive Vice President Chief Operations Officer Brad Seay Executive Vice President Lending Scott Petty Senior Vice President Lending Spencer Baum, D.D.S. Baum Dental Clinic Ronald D. Butler II First Financial Bankshares, Inc. George Gault Attorney Gault & Gault Terry L. Murphy President and CEO Murphy and Murphy, Inc. David Ramsey, M.D. Family Practice Center KENNETH A. WILLIAMSON Chairman, President and CEO MAIN OFFICE 1900 E. Hubbard St. Mineral Wells, TX 76067 940.327.5400 IN THOUSANDS ASSETS LOANS DEPOSITS NET INCOME RETURN ON AVG. ASSETS EFFICIENCY RATIO Dec. 31, 2015 $268,950 $125,474 $224,932 $4,871 Dec. 31, 2016 $261,002 $127,061 $216,020 $4,666 1.88% 1.80% 39.11% 38.94% MINERAL WELLS Day of Service Employees partnered with Meals on Wheels to deliver meals to 13 routes. They also held a bake sale with proceeds going to a local senior citizen center where they presented the Understanding Financial Exploitation of the Elderly program. SAN ANGELO REGION SENIOR OFFICERS REGIONAL DIRECTORS Michael L. Boyd Chairman and CEO Chris Evatt President Jim Davidson Executive Vice President Chief Operations Officer Chuck Shore Executive Vice President Edward Carrasco Senior Vice President Pat Cottle Senior Vice President Cindy George Senior Vice President Lindy Jordan Senior Vice President Wes Masters Senior Vice President Spencer Murphy Senior Vice President Reba Priddy Senior Vice President Luke Uherik Senior Vice President Michael L. Boyd Chairman and CEO Honorable Marilyn Aboussie Chief Justice, Retired Ronald D. Butler II First Financial Bankshares, Inc. W. Dan Cravy, M.D. Physician Doug Eakman Owner Pecos Street Pharmacy Steve Eustis Commercial Real Estate Ron Giddiens Investments Partner, D&G Consulting David F. Lupton President Angelo Glass & Mirror Company, Inc. Mary Jane Steadman Attorney Real Estate Investment Management MICHAEL L. BOYD Chairman and CEO CHRIS EVATT President MAIN OFFICE 301 W. Beauregard Ave. San Angelo, TX 76903 325.659.5900 IN THOUSANDS ASSETS LOANS DEPOSITS NET INCOME RETURN ON AVG. ASSETS EFFICIENCY RATIO Dec. 31, 2015 $693,612 $228,742 $629,255 $11,347 Dec. 31, 2016 $709,804 $217,614 $636,952 $11,818 1.66% 1.74% 34.18% 34.66% SAN ANGELO Day of Service In San Angelo, employees delivered lunch and aided Meals for the Elderly with packaging frozen meals and snack bags for clients. Bank Information :: Page 17 SOUTHEAST REGION Orange | Vidor | Mauriceville | Newton | Port Arthur | Beaumont SENIOR OFFICERS REGIONAL DIRECTORS STEPHEN LEE CEO and President MAIN OFFICE 812 N. 16TH St. Orange, TX 77630 800.300.8904 Stephen Lee CEO and President Blaine Callier Senior Vice President Commercial Lender Kim Dickerson Senior Vice President Chief Operations Officer Robert Kocot Senior Vice President Commercial Lender Cindi LaChance Senior Vice President Mortgage Loan Officer Curt Leger Senior Vice President Commercial Lender Joe Love Senior Vice President Commercial Lender Tommy Gunn Chairman of the Board Attorney at Law Stephen Lee CEO and President Dr. Ray Callas Managing Partner Anesthesia Associates, PLLC Tanya Cavness Re/Max Affiliate Tanya Cavness Team F. Scott Dueser First Financial Bankshares, Inc. Jim Gilliam President Bates & Company J. Bruce Hildebrand, CPA First Financial Bankshares, Inc. Chad Mason Vice President Mason Construction Paul Peveto Cloeren Inc & CFO Consulting Mike Poutra Co-Owner Dominion Forms Walter G. Riedel, III President and CEO Nelda C. and H.J. Lutcher Stark Foundation Ross Smith President Akrotex, Inc. Owner Sabine River Ford, Inc. Kevin Williams President Cypress Bayou Industrial Owner American Industrial Minerals, Inc. Jim Wimberly Attorney at Law IN THOUSANDS ASSETS LOANS DEPOSITS NET INCOME RETURN ON AVG. ASSETS EFFICIENCY RATIO Dec. 31, 2015 $481,821 $359,657 $406,573 $7,355 Dec. 31, 2016 $492,064 $374,478 $410,933 $7,655 1.48% 1.52% 50.56% 50.25% SOUTHEAST REGION Day of Service Employees in Orange partnered with Nutrition and Services for Seniors to prepare, package and deliver meals to local senior citizens. SOUTHLAKE REGION Southlake | Trophy Club | Keller | Bridgeport | Boyd | Decatur | Grapevine MARK L. JONES Chairman, President and CEO MAIN OFFICE 151 W. Southlake Blvd. Southlake, TX 76092 817.410.2915 SENIOR OFFICERS REGIONAL DIRECTORS Mark L. Jones Chairman, President and CEO Mark L. Jones Chairman, President and CEO F. Mills Shallene Wise County Market President Ronald D. Butler II First Financial Bankshares, Inc. Les Mariotti Executive Vice President Chief Operations Officer J. Sean Shope Executive Vice President Commercial Lender Ryan Wall Executive Vice President Consumer Lender Dickie W. Greenwood Senior Vice President Steve Sims Senior Vice President Ryan Sonntag Senior Vice President Tracie Talkington Senior Vice President Traci Bernard, BSN, RN President Texas Health Harris Methodist Hospital, Southlake William Ray Cook, Jr., CPA Cook, McDonald & Co. Martin Schelling Conifer Real Estate J. Gary Shelton Grocer Real Estate Investor Stan Stephens President Stephens Pneumatics, Inc. Tankheads, Inc. Terry Wilkinson Wyndham Properties, Ltd. IN THOUSANDS ASSETS LOANS DEPOSITS NET INCOME RETURN ON AVG. ASSETS EFFICIENCY RATIO Dec. 31, 2015 $401,773 $325,606 $353,257 $6,366 Dec. 31, 2016 $452,258 $359,417 $400,763 $7,200 1.59% 1.72% 55.38% 54.89% SOUTHLAKE Day of Service Southlake employees served a local senior housing development for low income and disabled seniors by preparing and serving meals, providing arts and crafts and performing yard and handyman work. Wise County employees delivered meals to area residents, completed yard work and cleaning at their homes and mowed a local cemetery not maintained by the county. Bank Information :: Page 19 STEPHENVILLE REGION Stephenville | Granbury | Glen Rose | Acton TRENT B. SWEARENGIN Chairman, President and CEO MAIN OFFICE 2201 W. South Loop Stephenville, TX 76401 254.965.5036 SENIOR OFFICERS REGIONAL DIRECTORS Trent B. Swearengin Chairman, President and CEO Trent B. Swearengin Chairman, President and CEO Doyle Cooper Glen Rose Market President Keith Brown Prime Building Components, LLC Bart Rodgers Granbury Market President Ronald D. Butler II First Financial Bankshares, Inc. Dereece Howell Executive Vice President Chief Operations Officer Robert Lemons Executive Vice President Blayne Baley Senior Vice President Doug Dobbins Senior Vice President Donna Feller Senior Vice President Vickie Pettit Senior Vice President Trent Tidwell Senior Vice President Matt Ward Senior Vice President Regional Consumer Lending Manager Walter W. Hardin III Real Estate Investments Doug Montgomery Texstar Ford John Moore Craft Associates, Inc. Ron Pack Ranching and Investments Bill Parham Boucher Morgan & Young CPAs John Terrill Attorney Michael B. Williams M W Supply, Inc. IN THOUSANDS ASSETS LOANS DEPOSITS NET INCOME RETURN ON AVG. ASSETS EFFICIENCY RATIO Dec. 31, 2015 $481,880 $294,996 $425,440 $7,623 Dec. 31, 2016 $502,509 $299,175 $436,213 $8,514 1.60% 1.77% 44.25% 48.02% STEPHENVILLE Day of Service Employees in Stephenville and Granbury served lunch at local senior centers while presenting the Understanding Financial Exploitation of the Elderly program and partnered with Meals on Wheels to deliver meals to 3 routes. Glen Rose employees volunteered at the Somervell County Food Bank to stock shelves, clean and landscape. WEATHERFORD REGION Weatherford | Aledo | Willow Park | Brock SENIOR OFFICERS REGIONAL DIRECTORS Jay Gibbs Chairman and CEO Justin Hooper President Les Mariotti Executive Vice President Chief Operations Officer John Good Senior Vice President Lori Hill Senior Vice President Kent Hudson Senior Vice President Jimmie Sue Lawson Senior Vice President Jay Gibbs Chairman and CEO Jamie Adams Senior Vice President Briggs Freeman Sotheby’s Realty Ronald D. Butler II First Financial Bankshares, Inc. James D. Eggleston Partner Eggleston King LLP Nan Kingsley President Bluestem Studios, Inc. Kevin R. Lackey President and CEO Freedom Power Sports Stephen E. Milliken C.D. Hartnett Company Mike White, O.D. Therapeutic Optometrist JAY GIBBS Chairman and CEO JUSTIN HOOPER President MAIN OFFICE 101 College Park Dr. Weatherford, TX 76086 817.596.0307 IN THOUSANDS ASSETS LOANS DEPOSITS NET INCOME RETURN ON AVG. ASSETS EFFICIENCY RATIO Dec. 31, 2015 $523,256 $206,348 $450,946 $7,973 1.60% Dec. 31, 2016 $494,353 $217,275 $417,407 $8,392 1.69% 47.28% 47.68% WEATHERFORD Day of Service Employees conducted a 4-week food drive, partnered with 3 local senior centers and food pantries to cook, clean, sort and organize shelves. They also preformed yard work and presented the Understanding Financial Exploitation of the Elderly program. Bank Information :: Page 21 Left to Right: Jana Haynes, Troy Fore, Kami Graves, Bobby Brennan, Janet O’Dell, Wes Masters, Tammie Harding, Cindi LaChance, Ryan Craig First Financial Mortgage 2016 was an exceptional year for First Financial Mortgage. We exceeded $500 million in total loan originations, which represents a 38% increase from 2015. We helped 2,273 families and individuals with their home financing needs, and we are most proud of that accomplishment. Interest rates ended the year higher, but remain at historic lows. The housing market in Texas continues to be a bright spot for the economy and First Financial Mortgage has a full menu of products to handle the needs of all home buyers. Looking forward, First Financial Mortgage is well-positioned in some of the fastest growing areas of the state providing many growth opportunities for our company. SENIOR OFFICERS Troy Fore President Ryan Craig Executive Vice President Kami Graves Executive Vice President Tammie Harding Executive Vice President Janet O’Dell Executive Vice President Bobby Brennan Senior Vice President Jana Haynes Senior Vice President Cindi LaChance Senior Vice President Wes Masters Senior Vice President $2,000 Left to Right: Jeff Casey, Larry Williams, Michael Cole, Kay Berry, Thomas S. Limerick, Kevin Pilgrim, Charles L. VanDeweel II, David Weems First Technology Services, Inc. SENIOR OFFICERS DIRECTORS Thomas S. Limerick Chairman, President and CEO Jeff Casey Executive Vice President Chief Digital Officer Kay Berry Senior Vice President Deposit Operations Kevin Pilgrim Senior Vice President IT Operations Charles L. VanDeweel, II Senior Vice President Software Development David Weems Senior Vice President Chief Operations Officer Larry Williams Senior Vice President Technical Architecture Thomas S. Limerick Chairman, President and CEO First Technology Services, Inc. Executive Vice President and CIO First Financial Bankshares, Inc. April Anthony Chief Executive Officer Encompass Home Health Homecare Homebase Michael L. Boyd Chairman and CEO First Financial Bank, San Angelo Region Ronald D. Butler II Executive Vice President Chief Administrative Officer First Financial Bankshares, Inc., Chairman and CEO First Financial Bank, Abilene Region F. Scott Dueser Chairman of the Board, President and CEO First Financial Bankshares, Inc. Michael Cole Vice President Chief Information Security Officer Jay Gibbs Chairman and CEO First Financial Bank, Weatherford Region Ron Giddiens Investments Partner, D&G Consulting J. Bruce Hildebrand Executive Vice President and Chief Financial Officer First Financial Bankshares, Inc. Tim Lancaster President and CEO Hendrick Health System Les Mariotti Executive Vice President and Cashier First Financial Bank, Fort Worth Region First Financial Bank, Mineral Wells Region First Financial Bank, Southlake Region First Financial Bank, Weatherford Region Trent B. Swearengin Chairman, President and CEO First Financial Bank, Stephenville Region Tony Wormington Retired President Jack Henry and Associates, Inc. First Financial Mortgage | First Technology Services :: Page 23 Abilene | Beaumont | Fort Worth | Odessa | San Angelo | Stephenville | Sweetwater Back Left to Right: David Byrd, Wayne Chowning, Lon Biebighauser, Konrad S. Halbert, Barbara Hill Front: Left to Right David Castleberry, Kirk W. Thaxton, Bradley D. Brown First Financial Trust & Asset Management Company First Financial Trust & Asset Management Company again delivered favorable results in 2016. Total assets under management at year- end had a book value of $3.37 billion, a 10.3 percent increase from $3.06 billion at the end of 2015. The market value of the assets totaled $4.37 billion, a gain of 13.0 percent from $3.87 billion. Our revenues were impacted by the significant market drop in the first quarter as well as lower oil and gas prices, which resulted in a $296,000 reduction in oil and gas management fees. For the year, total fee income increased 2.0 percent to $19.6 million from $19.2 million in 2015, and net earnings after tax decreased 3.5 percent to $7.2 million from $7.5 million. The trust company’s investment performance remained strong. Our Core Domestic Equity portfolio led the way with a return of 14.5 percent, followed by our Equity Income portfolio with 12.9 percent and our Core Diversified portfolio with 12.5 percent. Our Taxable and Tax-Exempt Fixed-Income portfolios outpaced their respective benchmarks. We are excited to announce that we have contracted with FIS, the world’s largest global provider of financial technology solutions, and will be converting to a new accounting platform in 2017. This new platform will improve online access, statements and tax reporting for our customers and provide additional technology solutions to assist them with meeting their financial goals. $2,000 Trust Assets (in millions) 2012 $2,233 2013 2014 2015 2016 $2,465 $2,774 $3,060 $3,374 Trust Fees (in millions) 2012 2013 $0 2014 2015 $14.46 $16.32 $18.77 $19.25 $19.64 2016 Trust Net Income (in millions) 2012 2013 2014 2015 2016 $5.183 $6.142 $7.109 $7.449 $7.190 SENIOR OFFICERS SENIOR OFFICERS (continued) Kirk W. Thaxton Chairman, President and CEO David Byrd Executive Vice President Manager, San Angelo David Castleberry Executive Vice President Manager, Stephenville Wayne Chowning Executive Vice President Manager, Sweetwater Konrad S. Halbert Executive Vice President Manager, Fort Worth Barbara Hill Executive Vice President Manager, Odessa Matt Melbourne Executive Vice President Manager, Operations Lon Biebighauser Senior Vice President Manager, Operations Bradley D. Brown Senior Vice President Manager, Beaumont/Orange Christopher N. Montoya Senior Vice President Manager, Equities David B. Pitzer Senior Vice President Manager, Real Property Bill Rowe Senior Vice President Manager, Fixed Income Randy Spiva Senior Vice President Manager, Oil & Gas DIRECTORS Kirk W. Thaxton Chairman, President and CEO First Financial Trust & Asset Management Company, N.A. Sarah Campbell Portfolio Manager David Copeland, CPA President Shelton Family Foundation F. Scott Dueser Chairman of the Board, President and CEO First Financial Bankshares, Inc. Jay Lawrence President MAL Enterprises, Inc. David F. Lupton President Angelo Glass & Mirror Company. Inc. Dr. Michael Owen Physician Bill Parham Boucher Morgan & Young CPAs Walter G. Riedel, III President and CEO Nelda C. and H.J. Lutcher Stark Foundation ADVISORY DIRECTOR John L. Beckham Beckham Rector and Eargle LLP Left to Right: Tony Gorman, Rick Howard, Monica Houston, Brandon Barker, Frank Gioia, Jeff Casey, Brandon Harris, Mike Wolverton, Daniel Neely Line Of Business Executives In 2016, First Financial formalized and strengthened core lines of business by identifying experts who are responsible for driving key lines of business strategies, processes and talent recruitment across the entire company. This approach aligns corporate goals and objectives with the day-to-day operations of the Company, maximizing growth and profit opportunities. We have dynamic leaders who support our entire organization in consumer lending, treasury management, customer service, human resources, retail banking, training and brokerage services. SENIOR OFFICERS Jeff Casey Executive Vice President Chief Digital Officer Monica Houston Executive Vice President Retail Banking and Training Michael Wolverton Executive Vice President Consumer Lending Frank Gioia Senior Vice President Call Center Tony Gorman Senior Vice President Human Resources Brandon Harris Senior Vice President Appraisal Services Daniel Neely Senior Vice President Treasury Management Brandon Barker Co-Manager First Financial Brokerage Services Rick Howard Co-Manager First Financial Brokerage Services $2,000 Trust & Asset Management | Line of Business Executives :: Page 25 Back: Randy Roewe, Luke Longhofer, Marna Yerigan, Michele P. Stevens, Lawrence B. Kentz, Kirk W. Thaxton, J. Bruce Hildebrand Front: Thomas S. Limerick, Ronald D. Butler II, F. Scott Dueser, Gary S. Gragg Corporate Information OFFICERS: F. Scott Dueser Chairman of the Board, President and CEO Ronald D. Butler II Executive Vice President Chief Administrative Officer J. Bruce Hildebrand, CPA Executive Vice President Chief Financial Officer Gary S. Gragg Executive Vice President Lending Thomas S. Limerick Executive Vice President Chief Information Officer Luke Longhofer Executive Vice President Lending Randy Roewe Executive Vice President Chief Risk Officer Marna Yerigan Executive Vice President Lending Lawrence B. Kentz Senior Vice President Chief Compliance Officer Michele P. Stevens Senior Vice President Advertising and Marketing ANNUAL MEETING Tuesday, April 25, 2017 Abilene Civic Center 1100 N. Sixth St. Abilene, TX 79601 10:30 a.m. FOR FINANCIAL AND INVESTOR INFORMATION: J. Bruce Hildebrand, CPA Executive Vice President Chief Financial Officer 325.627.7155 CORPORATE OFFICE TRANSFER AGENT SEND CERTIFICATES FOR TRANSFER AND ADDRESS CHANGES TO: Continental Stock Transfer & Trust Company 17 Battery Place 8th Floor New York, NY 10004 400 Pine St. Abilene, TX 79601 325.627.7155 800.588.7000 www.ffin.com CORPORATE MAILING ADDRESS P.O. Box 701 Abilene, TX 79604 COMMON STOCK LISTING The NASDAQ Global Select Market Symbol: FFIN INDEPENDENT PUBLIC AUDITORS Ernst & Young LLP Continental Stock Transfer & Trust Company 212.509.4000 ADDRESS SHAREHOLDER INQUIRIES TO: Continental Stock Transfer & Trust Company 17 Battery Place 8th Floor New York, NY 10004 CONTINENTAL STOCK TRANSFER & TRUST COMPANY WEBSITE www.continentalstock.com www.ffin.com Certain statements contained in this annual report 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” 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 or saving 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 annual report, the Company does not undertake any obligation to update publicly or revise any forward-looking statements because of new information, future events or otherwise. Note: Market share data is calculated from June 30, 2016, deposit information compiled by the Federal Deposit Insurance Corporation. Back: Murray Edwards, April Anthony, Ron Giddiens, F. Scott Dueser, Tucker S. Bridwell, Kade Matthews, David Copeland Front: Johnny E. Trotter, Tim Lancaster, Ross H. Smith, Steven L. Beal Board Of Directors COMMITTEES: BOARD MEMBER YEAR COMMITTEE 1. Executive Committee: F. Scott Dueser, Chairman 2. Audit Committee: David Copeland, Chairman 3. Compensation Committee: Steven Beal, Chairman 4. Nominating/Corporate Governance Committee: Tucker S. Bridwell, Chairman F. Scott Dueser Chairman of the Board, President and CEO First Financial Bankshares, Inc. April Anthony CEO Encompass Home Health Homecare Homebase Steven L. Beal Retired President and COO Concho Resources Inc. Tucker S. Bridwell, CPA* President Mansefeldt Investment Corp. David Copeland, CPA President, SIPCO, Inc. and Shelton Family Foundation Murray Edwards Principal, The Edwards Group Ron Giddiens Investments Partner, D&G Consulting Tim Lancaster President and CEO Hendrick Health System Kade Matthews Ranching and Investments Ross H. Smith President, Akrotex, Inc. Owner, Sabine River Ford, Inc. Johnny E. Trotter President and CEO Livestock Investors, Ltd. * Lead Director 1991 2015 1 2 2010 1, 3, 4 2007 1, 4 1998 1, 2, 4 2006 1, 2, 4 2009 2013 1998 2014 2 2 3 3 2003 1, 3, 4 Corporate Information | Board of Directors :: Page 27 400 Pine St., Abilene, TX 79601 | 325.627.7200 | ffin.com
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