Reaching out to our communities in need.
Rising to the Challenges
O F 2 0 1 7
In the days prior to the Labor Day weekend, south Texas experienced the wrath
of Hurricane Harvey. High winds and torrential rains brought flooding
and devastation to the region on a monumental scale.
First Financial was not spared. Twenty members of our banking family lost their
homes, while many others were stranded by the high water. As well, our ability
to offer banking services to customers in the region was disabled.
But, First Financial associates were not deterred. We rose to the occasion, and
overcame numerous obstacles to be the last bank to close prior to the Hurricane
and the first bank in the area to reopen for its customers. Response to the need
for assistance was so great, in fact, that organizers of the effort had to turn
away our volunteers.
In the weeks following the hurricane, group after group representing several
First Financial regions across the state flew to the rescue of our banking brethren.
What’s more, our company established a relief fund for employee contributions
and the Company matched every dollar donated. In addition, employees sent
supplies through various organizations, volunteered with many different causes
and did so much more. First Financial Bank truly demonstrated what a caring,
kind, and devoted family we really are.
As we look back on the year, we could not be more proud of our people
and the tremendous values they displayed during this very challenging time.
We’re confident the focus, resolve and determination the First Financial family
showed at a time of overwhelming adversity will only make us stronger and better.
A LETTER TO OUR SHAREHOLDERS.
Although every bank has a
Bankers Association, which gave our affected employees
disaster recovery plan, you hope
$46,900 from its Disaster Recovery Fund; and the Federal
you never have to put it into
Home Loan Bank of Dallas, which also contributed.
action. Last year, unfortunately,
Although we were not able to make our employees
we had to execute our plan when
completely whole, these funds helped them get back into
Hurricane Harvey hit our Conroe
their homes and resume normal lives again.
and Southeast Texas Regions.
Harvey was the deadliest
hurricane to strike Texas since
1919, killing 88 people, flooding
more than 300,000 structures and
500,000 cars, creating 40,000 flood
victims and causing estimated damages of
more than $125 billion. Our Southeast Region was
hit hardest, receiving 60 inches of rain, which flooded
20 of our employees’ homes and our bank facility in
Mauriceville. Stephen Lee, our President and CEO of the
Southeast Texas Region, and his team in Southeast Texas
did an outstanding job of executing our disaster recovery
plan. Their branches were the last to close and the first
to reopen in the area. Stephen focused on customers
and employees, making certain he did everything he
FINANCIAL RESULTS
We are pleased to report that our earnings increased for
the 31st consecutive year. Net income for 2017 grew 14.9
percent to $120.4 million from $104.8 million in 2016. Of
the $15.6 million increase, $7.7 million was attributable
to the change in the corporate income tax rate. Basic
earnings per share in 2017 rose to $1.82 from $1.59 in
the previous year. Without the income tax adjustment
mentioned above, earnings for the year would have been
$112.7 million—a 7.6 percent increase from 2016—and
adjusted basic earnings per share would have been $1.70.
Although the Federal Reserve raised interest rates by 25
basis points three times last year, our net interest margin
moved down slightly, to 4.01 percent from 4.08 percent in
2016. The net interest margin is a key profitability metric
could to take care of each group. His leadership, tenacity,
that expresses net interest income on a tax-equivalent
experience and ability to think out of the box earned him
basis as a percentage of average interest-earning assets.
the Walter Johnson Award, which is the top honor the
We are working diligently to increase loan rates to reflect
Company bestows (see Page 6). We are so proud of
the increases to interest rates that the Federal Reserve
Stephen and our team in Southeast Texas, along with
has made to date and we expect it to make in the future.
the 15 people from other regions of the Company who
Competition continues to be our largest impediment to
volunteered to go to Southeast Texas and fill in for the
increasing rates, but our net interest margin was still
employees who lost everything, so that we could continue
a very respectable result and placed us in the 85th
to provide quality banking services to our customers.
percentile of our peer group of banks.
We also want to say thank you to all the people and
organizations—customers, vendors, foundations,
employees and officers— who contributed more than
$300,000 to the First Financial Harvey Disaster Fund.
Those contributions provided financial assistance to our 20
employees, many of whom did not have flood insurance,
to rebuild their homes, buy cars and replace furniture and
clothes. We also want to thank the Community Foundation
of Abilene, which administered those funds; the Texas
The provision for loan losses decreased 36.1 percent
to $6.5 million from $10.2 million in 2016.This decrease
was due primarily to improved credit metrics and fewer
charge-offs than in 2016. Nonperforming assets as a
percentage of loans and foreclosed assets totaled 0.57
percent at December 31, 2017, compared to 0.86 percent
at December 31, 2016. Classified loans totaled $117.2
million at December 31, 2017, compared to $127.8 million
a year earlier.
Noninterest income grew 6.9 percent to $91.0 million from
deposits of $345.9 million. The acquisition of Commercial
750 employees who chose to serve our communities
elections, and we take this opportunity to thank Mike
$85.1 million, while noninterest expense rose 4.9 percent to
State Bank expands our growing Texas footprint into the
on a bank holiday. Our people participated in projects
Boyd and Ken Williamson for their long-term and
$174.0 million from $165.8 million.
cities of Kingwood, Fulshear, El Campo and Palacios, all of
including meal preparation and delivery, landscaping
valuable service to our company.
which are located around the Houston market. We are very
and painting, visits to homebound individuals, and
excited about the opportunity this gives us to further expand
educational sessions on how to protect yourself from
RECOGNITION
our footprint in the Houston area. Commercial State Bank is
financial exploitation.
We again outperformed our peer group of banks on several
key financial metrics. Our return on average assets was 1.72
percent compared with 1.04 percent for our peers. Return
on average equity was 13.63 percent versus our peers’ 9.56
percent. Our efficiency ratio, which expresses expenses as
a proportion of tax-equivalent revenues, was again solid last
year at 49.26 percent as opposed to our peers’ average of
60.56 percent.
Our balance sheet showed good growth last year.
Consolidated assets expanded 6.5 percent to $7.25 billion
from $6.81 billion at the end of 2016. Loans grew 3.4
percent to $3.50 billion from $3.38 billion. We continue to
be disappointed with our loan growth and are working hard
on increasing our marketing efforts to grow the portfolio.
Deposits increased 8.8 percent to $5.96 billion from $5.48
billion. Shareholders’ equity at year-end was $922.8 million,
up 10.1 percent from $837.9 million at year-end 2016.
Our First Financial Trust & Asset Management subsidiary
had an outstanding year fueled by large market value
growth, better oil and gas prices and a strong increase in
leasing activity in the Permian Basin. Total trust assets under
management at year-end reached a book value of $3.87
billion, a 14.6 percent increase from $3.37 billion a year
earlier. The market value of the portfolio grew 17.4 percent to
$5.13 billion from $4.37 billion in 2016. The trust company’s
well managed and has experienced solid growth in assets
and earnings. We believe it has excellent growth potential.
We are most impressed with its management, employees
and board members, who share our values, philosophies and
commitment to outstanding customer service. We now have
banking operations throughout Texas, with 72 locations that
cover areas from Hereford in the Panhandle to Orange in
Southeast Texas and to the Texas coast.
REAL ESTATE ACTIVITIES
In May 2017, we moved into the newly remodeled bank
facility at 5257 Buffalo Gap Road in Abilene. The new location
provides state-of-the-art banking and better access for our
mortgage and banking customers. We kept our drive-in
facility at 4400 Buffalo Gap Road open so that our customers
in south Abilene would have drive-in locations on both sides
of this very busy street.
In July 2017, we moved into a new facility at the corner of
Concho Avenue and Koenigheim Street in San Angelo. This
building, which has been designed to be the entrance to
San Angelo’s Historic District, is a beautiful new addition to
the city.
total fee income for 2017 grew 20.7 percent to $23.7 million
Last year, we sold our Orange facility to the City of Orange
from $19.6 million. Net income after tax for the trust company
totaled $8.6 million in 2017, up 19.3 percent from $7.2 million
in 2016.
STRATEGIC ACQUISITION
On January 1, 2018, we completed the acquisition of
Commercial Bankshares, Inc. and its wholly owned
subsidiary, Commercial State Bank, Kingwood, Texas.
We issued 1,289,371 shares of First Financial Bankshares
common stock with a value of $59.4 million to the
shareholders of Commercial Bankshares, Inc. In addition,
prior to closing, Commercial Bankshares, Inc. paid a
special dividend to its shareholders totaling $22.1 million
in accordance with the terms of our merger agreement.
As of December 31, 2017, Commercial State Bank had total
assets of $390.1 million, total loans of $271.5 million and total
and are now constructing a new building a block away, which
we hope to occupy by the end of 2018. As we have for
many years, we continue to upgrade our buildings to provide
beautiful and very functional facilities that enable us to better
serve our customers with the latest technology and to lower
our maintenance costs.
SERVING OUR COMMUNITIES
We at First Financial Bankshares serve our communities
every day, but we are especially proud of what we
contributed during our second annual company-wide Day of
Service on Columbus Day, October 9, 2017. First Financial
partnered with local nonprofit organizations across Texas to
provide assistance to the senior population in each of the
communities we serve. Day of Service initiatives took place
in 35 locations across our footprint and involved more than
We want to thank Steven L. Beal, who has chosen to
In recognition of our first Day of Service, the Texas
not stand for reelection to the Board of Directors at
Bankers Association Foundation in May 2017 presented
the Annual Shareholders Meeting in April, for his eight
our company with its Cornerstone Award at the
years of dedication and service to the Company. Steve
Association’s 133rd Annual Convention in San Antonio.
is the retired President and COO of Concho Resources
We were very pleased to receive this honor.
Inc. and has been a valuable member of our Board,
MANAGEMENT CHANGES
In June 2017, Chris Evatt was promoted to Chairman,
President and CEO of the San Angelo Region upon the
retirement of Mike Boyd, who had worked at the Bank
Executive Committee, Compensation Committee and
Nominating/Corporate Governance Committee. We will
miss his counsel and support, and we thank him for his
outstanding service.
for more than 41 years. Chris began his career with First
LOOKING AHEAD
Financial in Stephenville as a credit department assistant
in 2001 while attending Tarleton State University. Chris
The Texas economy has performed well for the last
several years during a period of low energy prices.
has served in a number of positions throughout his
career in Stephenville, Abilene and now San Angelo.
In August 2017, Cory Crenshaw was elected Mineral
Wells Market President to succeed Ken Williamson, who
had been President for more than 15 years. Cory has
been in the banking industry for more than 11 years as a
branch manager and loan officer with a bank in the area.
In October 2017, First Financial Bankshares, Inc.
elected J. Michael Wilson as Chief Information Officer,
as well as Chairman, President and CEO of First
Technology Services, Inc., a wholly owned subsidiary
of First Financial Bankshares, Inc. Mike previously had
served as Senior Vice President and Chief Technology
Officer for the past 15 years at a bank in New York.
He comes to us with extensive knowledge of our core
processing services, which are provided by Jack Henry
& Associates, where he serves on its mid-tier technology
steering committee.
In November 2017, Tom O’Neil, Chairman of the
Cleburne Region, announced the election of Austin
Elsner as President and CEO. Austin, who is a Cleburne
native, has had more than 16 years of banking
experience as a business relationship manager,
assistant branch manager and business banking area
manager for a major banking institution.
We are very pleased with these promotions and
Moreover, that economy continues to strengthen with
the slow escalation of oil and gas prices, the creation
of new jobs, and ongoing good growth in the
population. We have several initiatives under
way to take advantage of this improved economy
in order to grow loans and deposits, enhance
noninterest income and decrease expenses so
that we can continue to deliver solid results in
the coming years. As we have in the past, we are
proceeding strategically, searching diligently for
well-managed banks to acquire at the right price
that fit our culture and will bring long-term value to
our company.
We want to thank each of our stockholders for your
loyalty and support. We never forget that we work
for you.
Thank you.
F. Scott Dueser
Chairman, President and CEO
A Letter To Our Shareholders :: Page 5
THE 2018 WALTER JOHNSON AWARD
STEPHEN LEE
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 seven times in the last 13 years and is being bestowed for
the eighth time to Stephen Lee, who is President of our Southeast Texas Region.
Stephen contributed greatly to our company this year by using his ability to execute a disaster
recovery plan so that our branches in the Southeast Region were the last to close and the first to
reopen during the terrible 60-inch rainfall that resulted from Hurricane Harvey.
The Hurricane was one of the worst and deadliest since 1919. When the storm was over, it was
determined that 88 people had died, and more than 300,000 structures and 500,000 cars were
flooded with an estimated damage of more than $125 billion. More than 40,000 people were
displaced, of which 30,000 required water rescues. Twenty of our own employees lost everything,
and most of them had to have a water rescue to evacuate their homes.
Because our company had never experienced a hurricane event before, we depended upon
Stephen’s knowledge and advice to help our employees and customers through the crisis.
Throughout this ordeal, Stephen was a stalwart president who led his team through the disaster
recovery to ensure their branches were the first to reopen after the storm.
Having a disaster plan is essential, but you soon discover that it is only a foundation for what you are going to need because the challenges that you
face on an hour-to-hour basis must be solved with fast thinking and out of the box solutions. Stephen never stopped thinking about how to make it
work. With twenty of our employees not having homes, cars or clothes, there was no way for them to come to work. Many others were separated by
flood waters from their location and could not come to work either. Not only did Stephen coordinate those who could get to work and let them know
how they were going to execute the recovery plan, he also checked on those who could not get to work to make sure they were being taken care
of and had what they needed. To help get the branches up and open, Stephen asked for volunteers throughout our company to come to Orange
and help for a week at a time. A very gracious group of employees volunteered, but were delayed for a few days since our corporate plane couldn’t
land at the Orange or Beaumont airports because of other rescue efforts. Stephen worked with various government entities, congressmen and city
officials to enable us to land and bring needed volunteers and cash to the area.
Stephen’s other focus was to ensure that our customers were taken care of when they came to our branches and, having the experience of going
through two other hurricanes, Stephen knew exactly what needed to happen. Customers need cash, and we were there to cash their checks and
take deposits so that the money flow would start moving again. Any customer who needed cash could get a $15,000 loan on the spot for funds
to buy food, find a place to live and begin restoring their homes. He also knew that customers would not be able to make loan payments, so we
instructed our phone center and our staff in the Southeast Texas and Conroe Regions to automatically waive two payments for any customer who
asked. Our phone center was bombarded and, when our customers learned that with just a phone call they could get a two-month deferment, it
eased a great deal of their stress.
Stephen never stopped worrying about our twenty employees who had lost everything and were displaced from their homes. Because we had many
employees and other people who wanted to donate money to help, Ron Butler set up a fund through the Community Foundation of Abilene where
tax deductible contributions could be given and our displaced employees could receive that money tax-free because of it being a national disaster.
We raised more than $300,000. We also solicited funds for our people through the Texas Bankers Association Hurricane Harvey Disaster Fund and
received $46,800 from them, as well as funds from the Federal Home Loan Bank of Dallas, all of which was distributed to our people to help them
buy clothes, cars and rebuild their homes. Most of them did not have flood insurance and, although these funds didn’t cover everything, it was a big
help and very much appreciated.
Stephen never waivered in his commitment to the bank, the employees, the customers, the communities and, ultimately, the shareholders by doing
what was best for them in a very timely manner. When compared to many of the other banks in the area that didn’t open for weeks, we became
a Star in Southeast Texas because we were there not only to help our customers, but also the other banks’ customers. This year, there was no
question who should be the recipient of the Walter Johnson Award, and we proudly honor Stephen Lee and his team for an outstanding job.
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 ................. 817.596.0307
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
El Campo .......... 979.543.6441
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
Katy-Fulshear .... 281.346.0221
Keller .................. 817.329.8625
Kingwood ......... 218.318.4600
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
Palacios .............. 361.972.2585
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 HIGHLIGHTS
IN THOUSANDS (except for share data)
IN THOUSANDS (except for share data)
FOR THE YEAR
2017
2016
% INCREASE
FOR THE YEAR
2017
2016
% INCREASE
NET INCOME
$120,371
$104,774
14.88%
AT YEAR-END
Basic Earnings (PER SHARE) $1.82
$1.59
Dividends Declared
$49,648
$46,246
Dividends (PER SHARE)
$0.75
$0.70
14.47%
7.35%
7.14%
AVERAGES
Assets
Securities
Loans
Deposits
$6,981,511 $6,599,199
$2,964,650 $2,773,941
$3,435,447 $3,333,241
$5,627,933
$5,135,603
Shareholders’ Equity
$882,813
$847,866
5.79%
6.88%
3.07%
9.59%
4.12%
Assets
Securities
Loans
Deposits
$7,254,715
$6,809,931
6.53%
$3,087,473
$2,860,958
7.92%
$3,500,699 $3,384,205
3.44%
$5,692,961
$5,478,539
3.91%
Shareholders’ Equity
$922,768
$837,885
10.13%
Book Value Per Share
$13.93
$12.68
9.86%
Trust Assets (Book Value) $3,865,744
$3,373,554
14.59%
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)
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
Ten-Year
Compound
Growth Rate
$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
$0.45
$0.46
$0.46
–
–
–
$5.91
$6.66
$7.03
$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
$7,254,715
$922,768
$120,371
$1.82
$0.62
$0.70
$0.75
8.98%
10.65%
9.29%
8.57%
5.97%
–
–
–
–
$12.20
$30.17
$12.68
$45.20
$13.93
$45.05
9.96%
13.63%
Adjusted for stock dividends and splits
NET INCOME GROWTH (in thousands)
KEY RATIOS
2017
2016
2016 COMMON STOCK MARKET VALUE AND DIVIDEND DATA
NET INTEREST MARGIN
2013
$78,868
2014
$89,559
2015
$100,381
2016
$104, 774
2017
$120,371
Return On Avg. Assets
1.72%
1.59%
Return On Avg. Equity
13.63%
12.36%
Year-End Equity/Assets
12.72%
12.30%
Efficiency
49.26%
49.22%
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
2013
4.22%
2014
4.20%
2015
4.12%
2016
4.08%
2017
4.01%
RETURN ON AVERAGE EQUITY
EFFICIENCY RATIO
2013
13.75%
2014
14.00%
2015
13.60%
2016
12.36%
2017
13.63%
2013
50.19%
2014
49.24%
2015
47.61%
2016
49.22%
2017
49.26%
2017 COMMON STOCK MARKET VALUE AND DIVIDEND DATA
RETURN ON AVERAGE ASSETS
QUARTER
HIGH
LOW
CLOSE
DIVIDENDS
Fourth
$48.85
$43.05
$45.05
Third
$46.00
$37.31
$45.20
Second
$44.80
$36.85
$44.20
$0.19
$0.19
$0.19
First
$46.45
$37.55
$40.10
$0.18
2013
1.64%
2014
1.65%
2015
1.61%
2016
1.59%
2017
1.72%
Financial Highlights | Selected Financial Data :: Page 9
ABILENE REGION
Abilene | Clyde | Moran | Albany | Odessa | Eastland | Ranger | Rising Star | Cisco | Sweetwater | Merkel | Trent | Roby
ABILENE REGION (CONTINUED)
SENIOR OFFICERS
Ronald D. Butler II
Chairman and CEO
Marelyn Shedd
President
RONALD D. BUTLER II
Chairman and CEO
David W. Bailey
President, Eastland Division
Rodney Foster
Executive Vice President
Senior Lending Officer
Sweetwater
Vance Jones
Executive Vice President
Commercial Lending
Janet O’Dell
Executive Vice President
Mortgage Loans
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
MARELYN SHEDD
President
ABILENE MAIN OFFICE
400 Pine St.
Abilene, TX 79601
325.627.7000
DAVID W. BAILEY
President, Eastland Division
EASTLAND OFFICE
201 E. Main St.
Eastland, TX 76448
254.629.6100
SWEETWATER OFFICE
201 Elm. St.
Sweetwater, TX 79556
325.235.6600
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
Landon Hammond
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
REGIONAL DIRECTORS
Ronald D. Butler II
Chairman and CEO
Marelyn Shedd
President
David W. Bailey
President, Eastland Division
J. Michael Alexander
President
James M. Alexander & Co.
Katie Alford
President and CEO
Community Foundation of
Abilene
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.
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
Murray Edwards
Principal
The Edwards Group
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.
Kirk Massey
Investments
Larry May
May & Hrbacek CPAs
Stanley Morris, Jr.
Investments
Brian Perry
Insurance, Investments
Thomas L. Rees, Jr.
Rees, Rees & Fuller Attorneys
Dale Squiers, RPh
Owner
Dalsan Enterprises
Leigh Taliaferro, M.D.
Physician
Over the course of several weeks, three teams traveled to the Southeast Region to help provide
staff for bank customer needs and to support our fellow bank employees.
IN THOUSANDS
ASSETS
LOANS
DEPOSITS
NET INCOME
RETURN ON AVG. ASSETS
EFFICIENCY RATIO
Dec. 31, 2016
$2,401,229
$981,633
$1,894,798
$38,214
Dec. 31, 2017
$2,485,780
$994,088
$1,968,632
$40,560
1.73%
1.67%
42.18%
42.22%
L to R: Charity Skelton, David Bradshaw, Lauren Lee,
Front L to R: John Mendez. Jamie McBee. Chelsey Fox.
Patty Fuentes, Jessie Baze, Zack Ryan
David Gindrup. Rachael Lee, Stephen Lee, Melissa English
Back L to R: Gary Milliorn, David Bradshaw
Bank Information :: Page 11
CLEBURNE REGION
Cleburne | Burleson | Alvarado | Midlothian | Waxahachie
CONROE REGION
Conroe | Montgomery | Magnolia | Willis | Tomball | Cut and Shoot | Huntsville | New Waverly
SENIOR OFFICERS
REGIONAL DIRECTORS
Tom O’Neil
Chairman
Austin EIsner
President and CEO
Tom O’Neil
Chairman
Austin EIsner
President and CEO
Duane Thomas
Cleburne Market President
Senior Lender
Dereece Howell
Executive Vice President
Chief Operations Officer
Ray Beavers
Retired
General Manager and CEO
United Cooperative Services
Ronald D. Butler II
First Financial Bankshares, Inc.
Russell Phillips
Executive Vice President
Robert Childress III
Childress Engineers
Alecia Bland
Senior Vice President
Kim Hamilton
Senior Vice President
Chris Schjetnan
Senior Vice President
Stacey Sloan
Senior Vice President
Mark Hill
Utility Construction Consultant
Tim Lyness
Lyness Construction, LP
Dr. Joe Martin
Cleburne Eye Clinic
Jack Scott
Bell-Scott Insurance Group
TOM O’NEIL
Chairman
AUSTIN ELSNER
President and CEO
MAIN OFFICE
200 N Ridgway Dr.
Cleburne, TX 76033
817.774.5100
IN THOUSANDS
ASSETS
LOANS
DEPOSITS
NET INCOME
RETURN ON AVG. ASSETS
EFFICIENCY RATIO
Dec. 31, 2016
$523,789
$206,104
$475,887
Dec. 31, 2017
$506,842
$198,055
$455,066
$7,108
$6,669
1.68%
1.42%
50.62%
50.35%
Group III departing Abilene for the 3rd week of
support for the Southeast Region.
L to R: Nicole Minyard, Jared Rodriguez,
David Bradshaw, Raquel Garza, Carla Lane
SENIOR OFFICERS
REGIONAL DIRECTORS
Sam W. Baker
Chairman, President and CEO
Sam W. Baker
Chairman, President and CEO
Johnny Peet, Jr., M.D.
Physician
Robert Pate
President, Huntsville Division
Robert Pate
President, Huntsville Division
Randy Roan
Commercial Construction
John Sebastian
Conroe Golf Cars
Lloyd Tisdale
Investments
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
G. Bart Griffith
Executive Vice President
Chief Lending Officer
Michelle Murray
Executive Vice President
Treasury Management
Lee Warren
Executive Vice President
Chief Operations Officer
Chris Baughman
Executive Vice President
Guy Barker
Senior Vice President
Bobby Brennan
Senior Vice President
Mortgage Loan Officer
Heidi Carney
Senior Vice President
Professional & Executive
Lending
Terry Doak
Senior Vice President
Candy Emmerich
Senior Vice President
Anthony Olivieri
Senior Vice President
Harry J. Brooks
Chairman, President and CEO
First Financial Bank,
Kingwood Region
Donnie Buckalew
Buckalew Chevrolet
John J. Certa, Jr.
Owner
Team Auto Group
Casey Collum
Owner
Collum Development
Chris deMilliano
Operations Manager
Steely Lumber Company
Candyce F. Dixon
CPA
Dan Dominey
DBD Interests
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
IN THOUSANDS
ASSETS
LOANS
DEPOSITS
NET INCOME
RETURN ON AVG. ASSETS
EFFICIENCY RATIO
Dec. 31, 2016
$587,180
$409,404
$486,174
Dec. 31, 2017
$625,135
$446,624
$514,414
$7,964
$8,607
1.35%
1.42%
55.59%
55.80%
Bank Information :: Page 13
FORT WORTH REGION
HEREFORD REGION
MARTIN J. NOTO, JR.
President and CEO
MAIN OFFICE
1000 Forest Park Blvd.
Fort Worth, TX 76110
817.410.4970
SENIOR OFFICERS
REGIONAL DIRECTORS
Martin J. Noto, Jr.
President and CEO
Les Mariotti
Executive Vice President
Chief Operations Officer
Jayson Green
Senior Vice President
Mike Hopkins
Senior Vice President
Chris Shah
Senior Vice President
Bryan Thomas
Senior Vice President
Murray Edwards
Chairman of the Board
Principal, The Edwards Group
Mary Lee Cruz
Founding Partner
E Source, Inc.
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.
Stephen Kimmel
Chief Financial Officer
Cook Children’s Health
Care System
Matt Morris
President
Gus Bates Insurance
Paul Poston
President
Wellington Insurance
George Robertson
Managing Partner
Growco Capital, LLC
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
Executive Vice President
MIKE MAULDIN
Chairman, President and CEO
MAIN OFFICE
212 E. Third St.
Hereford, TX 79045
806.363.8200
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 Resource Manager
Panhandle Express, LLC
Jerry Stevens
Owner, Stevens 5-Star Car
and Truck Center
Johnny E. Trotter
President and CEO
Livestock Investors, Ltd.
IN THOUSANDS
ASSETS
LOANS
DEPOSITS
Dec. 31, 2016
$63,736
$48,566
$40,956
Dec. 31, 2017
$88,166
$75,356
$87,153
IN THOUSANDS
ASSETS
LOANS
DEPOSITS
NET INCOME
RETURN ON AVG. ASSETS
EFFICIENCY RATIO
Dec. 31, 2016
$186,220
$131,493
$156,834
Dec. 31, 2017
$213,761
$146,287
$183,981
$3,524
$3,587
1.88%
1.82%
45.75%
44.31%
Martin Noto and Mike Hopkins
serving lunch at a Hurricane Harvey
shelter for evacuees in Fort Worth.
The National Guard was staged at
our Vidor location the day after the
storm moved out of the Southeast
Region. They not only rescued
people from flooding homes, they
also provided food and set up a
water and supply station in the Bank
parking lot.
Bank Information :: Page 15
KINGWOOD REGION
Kingwod | El Campo | Fulshear | Palacios
SAN ANGELO REGION
HARRY J. BROOKS
Chairman, President and CEO
MAIN OFFICE
24080 Hwy 59 N. Suite 100
Kingwood, TX 77339
281.318.4600
David Melanson
Banking
Robert Nickles
Principal
Alegacy
SENIOR OFFICERS
REGIONAL DIRECTORS
Harry J. Brooks
Chairman, President and CEO
Shelley Dacus
Executive Vice President
Chief Lending Officer
James Alexander
Executive Vice President
Commercial Lending
Jeff Fuechec
El Campo Market President
Lee Warren
Executive Vice President
Chief Operations Officer
Doug Faver
Executive Vice President
Real Estate
Ken Johnson
Executive Vice President
Brian Bonner
Senior Vice President
Real Estate
Brandon Zabodyn
Senior Vice President
Commercial Lending
Nancy Powell
Senior Vice President
Tammy Titel
Senior Vice President
Harry J. Brooks
Chairman, President and CEO
First Financial Bank,
Kingwood Region
Sam Baker
Chairman, President and CEO
First Financial Bank,
Conroe Region
Julie Barry
Attorney
Moody Law Group
Jeff Cravey
Principal
Jeffrey M. Cravey PC
F. Scott Dueser
First Financial Bankshares, Inc.
Michael Gonzalez
Principal
The Gonzalez Group
J. Bruce Hildebrand, CPA
First Financial Bankshares, Inc.
Kenny Isbell
President
Apache Oil Company
Ronnie Matthews
Owner
Great American Title
IN THOUSANDS
ASSETS
LOANS
DEPOSITS
Dec. 31, 2017
$390,112
$271,533
$345,908
*Commercial State Bank, Kingwood, Texas was aquired on January 1, 2018.
The Bank parking lot at
Mauriceville was used for
a boat staging area for
rescues in the Mauriceville
area. The Branch took on
water and had to be closed
for a short period.
SENIOR OFFICERS
REGIONAL DIRECTORS
Chris Evatt
Chairman, President and CEO
Chris Evatt
Chairman, President and CEO
CHRIS EVATT
Chairman, President and CEO
MAIN OFFICE
222 S. Koenigheim
San Angelo, TX 76903
325.659.5900
Cindy George
Executive Vice President
Chief Operations Officer
Lindy Jordan
Executive Vice President
Edward Carrasco
Senior Vice President
Pat Cottle
Senior Vice President
Wes Hayes
Senior Vice President
Wes Masters
Senior Vice President
Spencer Murphy
Senior Vice President
Reba Priddy
Senior Vice President
Luke Uherik
Senior Vice President
Honorable Marilyn Aboussie
Chief Justice, Retired
Ronald D. Butler II
First Financial Bankshares, Inc.
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
IN THOUSANDS
ASSETS
LOANS
DEPOSITS
NET INCOME
RETURN ON AVG. ASSETS
EFFICIENCY RATIO
Dec. 31, 2016
$709,804
$217,614
$636,952
Dec. 31, 2017
$715,102
$209,851
$625,777
$11,818
$11,928
1.74%
1.71%
34.66%
36.78%
Our new bank property at the corner
of 15th and Park in Orange flooded.
In the background, you can see our
existing digital sign blacked out due
to no electricity. At this point, only
boats and large military vehicles were
traveling through this area of town.
Bank Information :: Page 17
SOUTHEAST REGION
Orange | Vidor | Mauriceville | Newton | Port Arthur | Beaumont
SOUTHLAKE REGION
Southlake | Trophy Club | Keller | Bridgeport | Boyd | Decatur | Grapevine
STEPHEN LEE
CEO and President
MAIN OFFICE
812 N. 16TH St.
Orange, TX 77630
800.300.8904
SENIOR OFFICERS
REGIONAL DIRECTORS
Stephen Lee
CEO and President
Blaine Callier
President - Mid County Market
Commercial Lender
Tommy Gunn
Chairman of the Board
Attorney at Law
Stephen Lee
CEO and President
Robert Kocot
President - Beaumont Market
Commercial Lender
Dr. Ray Callas
Managing Partner
Anesthesia Associates, PLLC
Joe Love
Executive Vice President
Commercial Lender
Kim Dickerson
Senior Vice President
Chief Operations Officer
Cindi LaChance
Senior Vice President
Mortgage Loan Officer
Curt Leger
Senior Vice President
Commercial Lender
F. Scott Dueser
First Financial Bankshares, Inc.
Jim Gilliam
President
Bates & Company
J. Bruce Hildebrand, CPA
First Financial Bankshares, Inc.
Jim Wimberly
Attorney at Law
Chad Mason
Vice President
Mason Construction
Mike Poutra
Co-Owner
Dominion Forms
Walter G. Riedel, III
Chairman of the Board
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.
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
IN THOUSANDS
ASSETS
LOANS
DEPOSITS
NET INCOME
RETURN ON AVG. ASSETS
EFFICIENCY RATIO
Dec. 31, 2016
$492,064
$374,478
$410,933
Dec. 31, 2017
$592,473
$396,550
$504,055
$7,655
$8,375
1.52%
1.57%
50.25%
49.08%
Dec. 31, 2016
$452,258
$359,417
$400,763
Dec. 31, 2017
$588,805
$380,863
$530,925
$7,200
$8,291
1.72%
1.59%
54.89%
52.25%
This is 16th Street in front of the Orange
Branch on the first day we reopened
for customers. We were running on
generator power only, but were proud to
serve our customers as the first bank to
reopen in Orange!
Mark Jones and Marcus Morris from
our Southlake Region traveled to
Orange over one weekend to help
restore an employee’s home.
Bank Information :: Page 19
TRENT B. SWEARENGIN
Chairman, President and CEO
Cory Crenshaw
Mineral Wells Market President
Ronald D. Butler II
First Financial Bankshares, Inc.
JAY GIBBS
Chairman and CEO
STEPHENVILLE REGION
Stephenville | Granbury | Glen Rose | Acton | Mineral Wells
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
MAIN OFFICE
2201 W. South Loop
Stephenville, TX 76401
254.965.5036
Bart Rodgers
Granbury Market President
George Gault
Attorney
Dereece Howell
Executive Vice President
Chief Operations Officer
Robert Lemons
Executive Vice President
Brad Seay
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
Wendell Hollingsworth
Industry & Economic Development
Doug Montgomery
Texstar Ford
Terry L. Murphy
Murphy and Murphy, Inc.
Ron Pack
Ranching and Investments
Bill Parham
Boucher Morgan & Young CPAs
David Ramsey, M.D.
Family Practice Center
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, 2016
$763,511
$426,236
$652,233
Dec. 31, 2017
$815,630
$421,952
$693,365
$13,180
$13,989
1.78%
1.78%
44.94%
44.58%
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
Chris Cregger
Senior Vice President
Lori Hill
Senior Vice President
Kent Hudson
Senior Vice President
Jimmie Sue Lawson
Senior Vice President
Sean Woodring
Senior Vice President
Senior Lender
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
Attorney
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
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, 2016
$494,353
$217,275
$417,407
Dec. 31, 2017
$566,656
$222,914
$481,422
$8,392
$8,203
1.69%
1.58%
47.68%
49.44%
Flood waters on I-10 in Orange. This
view is from Stephen Lee’s truck as
he was out surveying the branches to
see what roads were accessible.
Bank Information :: Page 21
Left to Right: Kami Graves, Troy Fore, Janet O’Dell, Wes Masters, Tammie Harding, Ryan Craig, Bobby Brennan, Cindi LaChance
Left to Right: Blake Snyder, Larry Williams, Cynthia Watson, Micheal Wilson, Isabel Montoya, David Weems, Kevin Pilgrim, Scott Payne
First Financial Mortgage
First Technology Services, Inc.
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
Cindi LaChance
Senior Vice President
Wes Masters
Senior Vice President
2017 was a good year for First Financial Mortgage,
but was not without its challenges. The effects of
Hurricane Harvey and the ensuing floods in our
Southeast Region, low housing inventory and
fierce pricing competition did present some slight
headwinds for our team. Despite these challenges,
we helped 2,025 individuals and families with their
home financing needs totaling $458 million in total
originations. Eighty percent of our total originations
were derived from purchase transactions. Interest
rates began the year higher, but remain at historic
lows. The housing market across Texas continues to
be robust and the First Financial Mortgage team has
a full menu of products to handle the financing needs
of Texans across our state. Looking forward, First
Financial Mortgage is well-positioned in some of the
fastest growing areas of the state. Continued growth
will provide many opportunities for our company.
SENIOR OFFICERS
DIRECTORS
Michael Wilson
Chairman, President and CEO
Kevin Pilgrim
Executive Vice President
IT Operations
Isabel Montoya
Senior Vice President
Deposit Operations
Cynthia Watson
Senior Vice President
Chief Information Security Officer
David Weems
Senior Vice President
Chief Operations Officer
Larry Williams
Senior Vice President
Technical Architecture
Scott Payne
Vice President
Infrastructure Support Manager
Blake Snider
Vice President
Software Development
Michael Wilson
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
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.
Ron Giddiens
Investments
Partner, D&G Consulting
Gary S. Gragg
Executive Vice President
Lending
First Financial Bankshares, Inc.
J. Bruce Hildebrand, CPA
Executive Vice President and
Chief Financial Officer
First Financial Bankshares, Inc.
Monica Houston
Executive Vice President
Retail Banking and Training
First Financial Bankshares, Inc.
Les Mariotti
Executive Vice President and Chief
Operations Officer
First Financial Bank, Fort Worth Region
First Financial Bank, Southlake Region
First Financial Bank, Weatherford Region
Matt Melbourne
Executive Vice President
First Financial Trust & Asset
Management Company
Trent B. Swearengin
Chairman, President and CEO
First Financial Bank,
Stephenville Region
Lee Warren
Executive Vice President
Chief Operations Officer
First Financial Bank, Conroe Region
First Financial Bank, Kingwood 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
Back Left to Right: Frank Gioia, Daniel Neely, Brandon Harris, Monica Houston, Mike Wolverton, Rick Howard
Front: Left to Right Tony Gorman, Brandon Barker
First Financial Trust & Asset Management Company
Line Of Business Executives
First Financial Trust & Asset Management Company delivered
excellent results in 2017. Total assets under management at year-
end had a book value of $3.87 billion, a 14.6 percent increase from
$3.37 billion at the end of 2016. The market value of the assets
totaled $5.13 billion, a gain of 17.4 percent from $4.37 billion. For
the year, total fee income increased 20.7 percent to $23.7 million
from $19.6 million in 2016, and net earnings after tax increased 19.3
percent to $8.6 million from $7.2 million.
The trust company’s investment performance remained strong. Our
Strategic Growth Equity portfolio led the way with a return of 28.9
percent, followed by our Core World portfolio with 23.4 percent
and our Core Diversified portfolio with 21.7 percent. Our Taxable
and Tax-Exempt Fixed-Income portfolios outpaced their respective
benchmarks.
We will be completing the conversion to our new core accounting
platform with a February 28, 2018 conversion date. We are excited
about the enhancements that this new platform will bring, such
as improved online access, statements and tax reporting for our
customers and additional technology solutions to assist them with
meeting their financial goals.
Trust Assets (in millions)
2013
$2,465
2014
2015
2016
2017
$2,774
$3,060
$3,374
$3,866
Trust Fees (in millions)
2013
2014
$0
2015
2016
$16.32
$18.77
$19.25
$19.64
$23.69
2017
Trust Net Income (in millions)
2013
2014
2015
2016
2017
$6.142
$7.109
$7.449
$7.190
$8.579
SENIOR OFFICERS
SENIOR OFFICERS (continued)
Kirk W. Thaxton
Chairman, President and CEO
Lon Biebighauser
Executive Vice President
Manager, Abilene
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
Chief Operations Officer
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.
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.
Bill Parham
Boucher Morgan & Young CPAs
Walter G. Riedel, III
Chairman of the Board
Nelda C. and H.J. Lutcher
Stark Foundation
ADVISORY DIRECTOR
John L. Beckham
Beckham Rector and
Eargle LLP
Our line of business executives continue to lead
the Company toward our goal of becoming “best of
class” in consumer lending, treasury management,
customer service, human resources, retail banking,
training and investment services. The business
strategy, processes, talent recruitment and growth
of these key business lines is very important to the
overall performance of the Company.
SENIOR OFFICERS
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 Investment Advisors
Rick Howard
Co-Manager
First Financial Investment Advisors
Trust & Asset Management | Line of Business Executives :: Page 25
Back: Luke Longhofer, Randy Roewe, Michele P. Stevens, Tim Collard, Monica Houston, Lawrence B. Kentz, Kyle McVey, Marna Yerigan, Kirk W. Thaxton, Gary S. Gragg
Front: Ronald D. Butler II, F. Scott Dueser, J. Bruce Hildebrand, J. Michael Wilson
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
Corporate Information
Board Of Directors
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
Luke Longhofer
Executive Vice President
Lending
Randy Roewe
Executive Vice President
Chief Risk Officer
J. Michael Wilson
Executive Vice President
Chief Information Officer
Tim Collard
Executive Vice President
Lending
Monica Houston
Executive Vice President
Retail Banking and Training
Michele P. Stevens
Executive Vice President
Advertising and Marketing
Marna Yerigan
Executive Vice President
Lending
Lawrence B. Kentz
Senior Vice President
Chief Compliance Officer
Kyle McVey, CPA
Senior Vice President
Chief Accounting Officer
ANNUAL MEETING
Tuesday, April 24, 2018
Abilene Convention 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
1 State Street
30th 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
1 State Street
30th 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, 2017,
deposit information compiled by the Federal Deposit Insurance Corporation.
COMMITTEE CHAIRMEN:
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
2
2013
2,3
1998
2014
3
3
2003
1, 3, 4
Corporate Information | Board of Directors :: Page 27
400 Pine St., Abilene, TX 79601 | 325.627.7200 | ffin.com