2 0 1 8 A N N U A L R E P O R T
PROTECTING OUR CUSTOMERS
First Financial’s
Fraud Busters Program
is Stopping Fraud
in its Tracks
All across Texas, First Financial associates have
successfully protected their customers from
a variety of fraudulent schemes and activities.
It was just another normal day at First Financial Bank in Cleburne
when a customer entered with some exciting news.
The customer had received a letter informing her that she had won
a large sweepstakes, worth nearly $1 million dollars. All she had to
do to collect her windfall was cash an enclosed check for $8,998.75,
and then send back $7,798.00 as a prize processing fee. Once this
was paid, she would receive her big prize.
First Financial Retail Banker Pam Crowell immediately sensed
something was wrong. Noticing a phone number on the sweepstakes
letter, she called to confirm the prize. After just a few questions, the
person who had answered the call abruptly hung up and would not
answer subsequent calls. As suspected, it was a fraud attempt on an
innocent First Financial customer. And, it was yet another successful
win for First Financial Bank’s Fraud Busters Program.
Fraud Busters :: Page 2
A Word from First Financial President & CEO Scott Dueser:
“Our Fraud Busters initiative has proven to be a great
success. It is because of our First Financial associates, who’ve
embraced it wholeheartedly. Because of their diligent efforts,
they have protected both our customers and our bank from
financial exploitation and painful monetary loss. I encourage
all of us to remain vigilant and aware of these unscrupulous
activities. Together, we can maintain the Fraud Busters
Program’s impressive record of success.”
First Financial’s Fraud Busters have stopped thousands
of scams and saved millions of dollars.
Since its implementation in December of 2014, First Financial Fraud Busters
have stopped more than 1,500 fraud attempts and saved more than $7 million
for both customers and the Bank. And, just like the attempted fraud case in
Cleburne described on the prior page, there have been more than 130 other
Fraud Busters stories reported.
In 2016, the American Banking Association estimated that frauds and scams
cost the banking industry $2.2 billion on deposit accounts alone. When debit
card, ATMs and wire fraud are included, the number grows dramatically.
At First Financial, educating our associates is the first step of our Fraud Busters
Program. This allows them to both quickly identify fraudulent activity and help
customers spot it too. Plus, seminars and social media posts for the community
to read and share help spread the word about scams that can evolve quickly.
Best of all? When a fraud or scam is “busted,” the Bank employee responsible
for identifying it receives a Fraud Busters Award.
First Financial’s Fraud Busters Program is much more robust than the common
practice of just sending internal bank emails regarding fraud. It’s a highly
organized program, utilizing specific templates, timelines and reward systems.
It’s also unique because it is honored by executive management, distributed to
every employee in the Company, celebrated regardless of the monetary value
saved and used to educate the community. We also host seminars to educate
organizations such as AARP, civic clubs, church groups, retirement centers,
businesses, local police and law offices.
The best weapon we have against fraud is knowledge.
Just knowing about these types of frauds and scams is an important step in
protecting yourself from becoming a victim. Rest assured that First Financial Bank
is committed to continuing our practice of standing guard against frauds and scams
across our network of banks in Texas.
Whether in Abilene or Orange, Hereford or Burleson, you can be certain the Fraud
Busters Program is on the lookout for dishonest behavior aimed at our customers.
It’s just another way First Financial lives up to its slogan of “You First.”
When it sounds too good to be true,
it usually isn’t true. Still, it can be
easy to fall prey to certain carefully
orchestrated scam approaches. Here
are some popular fraud schemes
and scams:
The Overpayment Scam:
The scam artist sends you a counterfeit check.
They instruct you to deposit it in your bank
account and wire a portion of the money back
to them. Since the check is a fake, you’ll have
to pay your bank the amount of the check,
plus you’ll lose the money you wired.
Unsolicited Check Fraud:
A scammer sends you a check for no reason.
If you cash it, you may be authorizing the
purchase of items or signing up for a loan you
never requested.
Automatic Withdrawal Fraud:
A company sets up an automatic debit from
your bank account, as part of a bogus free trial
or to collect lottery winnings.
Phishing:
You receive an email, call or text that
asks you to verify your bank account or
debit card number.
Dollar Amounts Saved Since 2014
by Fraud Busters by Region
Region
Abilene
Cleburne
Conroe
Fort Worth
Hereford
Kingwood
Orange
San Angelo
Southlake
Stephenville
Weatherford
Grand Total
Amount
$4,426,145.69
$27,764.62
$1,095,610.56
$463,379.37
$46,018.94
$62,090.72
$56,549.07
$387,377.06
$812,504.33
$96,561.42
$59,185.26
$7,533,187.04
Fraud Busters :: Page 3
A LETTER TO OUR SHAREHOLDERS.
First Financial Bankshares provides
As a result of our program’s success, we have received a
$3.98 billion from $3.50 billion. Deposits increased 3.6 percent to
a drive-in, ATM and the latest in banking technology, so it is a huge
a myriad of products and services to
Community Commitment Award from the American Bankers
$6.18 billion from $5.96 billion. However, we are not pleased with
upgrade for our customers. We are pleased that the facility has been
meet our customers’ needs, wants
Association Foundation in 2015, and a Leaders in Financial
our organic loan and deposit growth and are working hard to grow
delivering good results, which is a testament to our employees there
and dreams. One of those services
Education Award from the Texas Bankers Association in 2016.
both through increased marketing efforts. Shareholders’ equity at
and the service they provide to our customers.
is our Fraud Busters program,
Although we appreciate these recognitions, our true passion is
year-end was $1.05 billion, up 14.1 percent from $922.8 million at
an initiative to combat financial
protecting you—our customers and stockholders.
year-end 2017.
In January 2019, we opened a new branch at 3563 Riley Fuzzell
Road in Spring, Texas. The Spring branch is located on Grand
We put You First.
FINANCIAL RESULTS
Our First Financial Trust & Asset Management subsidiary had
Parkway at Birnham Woods, which, as our property experts say,
another outstanding year fueled by a large growth in trust assets and
is one of the best locations in our First Financial footprint. With the
a strong increase in oil and gas leasing activity by our Oil and Gas
opening of this beautiful new building, First Financial now has 73
Management Division. Total trust assets under management at year-
locations serving customers across the state. The Spring branch
Last year marked our 32nd consecutive year of increased
end reached a book value of $4.29 billion, an 11.1 percent increase
expands our market north of Houston.
exploitation. We created it several
years ago, primarily to protect our
elder customers. With fraud now an
epidemic, we have been giving this
program even greater attention. It
doesn’t matter what age you are,
whether you are rich or poor, or
operate a large or small business—you are
a candidate to become a fraud victim. We believe
the best way to protect our customers, as well as the
general public, is to educate them about the different scams and
methods of fraud that may be targeting them.
We also protect our customers by making sure our employees
and officers are well trained to detect and stop fraud as it
is happening. Our partnerships with local law enforcement
agencies in the communities we serve are a valuable tool that
not only help stop fraud as it’s being committed, but also help
take the fraudsters off the streets. We applaud our local law
officers because they respond immediately when we call to alert
them that we believe a fraud is in progress. I also commend
my associates who do an outstanding job of detecting fraud,
contacting law enforcement and detaining the fraudster, so that
earnings. Net income for 2018 grew $30.3 million to $150.6
from $3.87 billion at the end of 2017. The market value of the assets
million from $120.4 million in 2017. This large 25.1 percent
totaled $5.60 billion, up 9.1 percent from $5.13 billion at year-end
increase in earnings was fueled by the decrease in the federal
2017. Total trust fee income for 2018 increased 18.9 percent to
corporate income tax rate to 21 percent from 35 percent in late
$28.2 million from $23.7 million in 2017, and net earnings after tax
2017, and by our acquisition of Commercial Bancshares on
increased 57.7 percent to $13.5 million from $8.6 million.
January 1, 2018. Basic earnings per share in 2018 rose to $2.23
from $1.82 in the previous year. Although the Federal Reserve
raised interest rates by 25 basis points four times in 2018, our
net interest margin moved down slightly to 3.96 percent from
STRATEGIC ACQUISITION
On January 1, 2018, we completed the acquisition of Kingwood-
4.01 percent in 2017. (The net interest margin is a key profitability
based Commercial Bancshares, Inc. and its wholly-owned
metric that expresses net interest income on a tax-equivalent
basis as a percentage of average interest-earning assets.) We
subsidiary, Commercial State Bank. We issued 1,289,371 shares
of First Financial Bankshares common stock with a value of
worked diligently to increase our loan rates to reflect the interest
$59.4 million to the shareholders of Commercial Bancshares,
rate increases made by the Federal Reserve, but competition
Inc. In addition, prior to closing, Commercial Bancshares, Inc.
continued to be the largest impediment we faced. Nevertheless,
paid a special dividend to its shareholders totaling $22.1 million
our net interest margin was still a very respectable result and
placed us in the 74th percentile of our peer group of banks.
As most of you probably remember, we sold our Orange facility to
the City of Orange in 2017 and started construction of a strategically
placed building one block away. Because of weather conditions,
including Hurricane Harvey, completion of this building has been
delayed several months, but we plan to move into the building in
March 2019. This new location will provide state-of-the-art banking
and better access for our mortgage and banking customers.
MANAGEMENT CHANGES
In March 2018, Will Christoferson was named Vice President of
Advertising and Marketing. He is an Abilene native and has had
more than nine years of banking experience as a Commercial Sales
and Marketing Officer with a major banking institution. Michele
Stevens, our Executive Vice President of Advertising and Marketing,
will retire in May 2019. Michele has been with the Company for 22
years and has been the driving force behind our marketing initiatives
during all that time.
In April 2018, Austin Elsner was promoted to Chairman, President
and CEO of the Cleburne Region upon the retirement of Tom O’Neil,
who had worked for the Bank for more than 25 years. Austin has
been with the Bank since November 2017 and is a Cleburne native.
He has had more than 18 years of banking experience as a Business
Relationship Manager, Assistant Branch Manager and Business
Banking Area Manager.
In August 2018, Kirby Cason was named President of the Huntsville
market to replace Robert Pate, who retired from the Bank at the
end of the year. Robert had served our company for 34 years and
had been President of the Huntsville market for seven years. Kirby,
who is a native of Huntsville, graduated from Sam Houston State
University and has been in the banking industry for 13 years.
in accordance with the terms of our merger agreement. As of
December 31, 2017, Commercial State Bank had total assets of
$390.2 million, total loans of $271.5 million and total deposits of
$345.9 million. The acquisition of Commercial State Bank expanded
our growing Texas footprint into the cities of Kingwood, Fulshear, El
Campo and Palacios, all located around the Houston market. The
operations of Commercial State Bank in those four cities have been
integrated into the First Financial family as the Kingwood Region.
We are very pleased with the new region’s results for its first year
as part of First Financial. It produced earnings of $6.1 million and a
return on average assets of 1.63 percent. As of December 31, 2018,
the Kingwood Region had total assets of $365.0 million, total loans
of $318.7 million and total deposits of $300.8 million. It serves a
high-growth area and has good management and a very qualified
and experienced lending staff. We have added consumer lending
and trust services to the Region’s array of products and services. We
believe the Region has excellent potential to grow while continuing
the perpetrator can be arrested. Last year alone, we prevented
The provision for loan losses decreased 13.2 percent to $5.7
more than $2.2 million of fraud, compared with $1.8 million the
million from $6.5 million in 2017. This decrease was due primarily
year before. And over the last four years, we have stopped $7.5
to fewer charge-offs than in 2017. Nonperforming assets as a
million of fraud from being committed.
The largest frauds we see today are aimed at businesses with
large balances, checks, automated clearing house transactions
and wire transfers. If you or your business associates have
not attended our course on detecting these types of frauds,
please contact us and we will connect you with our Treasury
Management Department personnel, so they may personally
percentage of loans and foreclosed assets totaled 0.75 percent
at December 31, 2018, compared to 0.57 percent at December
31, 2017. Classified loans totaled $126.3 million at December 31,
2018, compared to $117.2 million a year earlier.
Noninterest income grew 11.8 percent to $101.8 million from
$91.0 million, while noninterest expense rose 9.6 percent to
$190.7 million from $174.0 million.
educate you and your employees on how to protect your
We again outperformed our peer group of banks on several key
business from fraud with products and services that we can
financial metrics. Our return on average assets was 1.98 percent
provide.
We are very proud to say that since initiating our Fraud Busters
program, we have become one of the leading banks in the
country in fraud prevention and have been invited to speak
at the White House Conference on Aging, the AARP National
Convention, the Texas Senate Committee on Business and
Commerce, the Texas House Investments and Financial Services
Committee and the Federal Reserve Bank of Philadelphia.
compared with 1.23 percent for our peers. Return on average
equity was 15.37 percent versus our peers’ 11.02 percent. Our
efficiency ratio, which expresses expenses as a proportion
of tax-equivalent revenues, was again solid last year at 49.72
percent, as opposed to our peers’ average of 60.36 percent.
Our balance sheet showed good growth last year, primarily
because of the Commercial Bancshares acquisition.
Consolidated assets expanded 6.6 percent to $7.73 billion from
$7.25 billion at the end of 2017. Loans grew 13.6 percent to
to cut costs and help improve our efficiency ratio.
In September 2018, Andrea Smiddy-Schlagel was appointed
REAL ESTATE ACTIVITIES
Executive Vice President of Treasury Management. Andrea has had
more than 30 years of experience in the financial services industry
and is an Accredited Automated Clearing House Professional and a
In December 2018, we moved into a new bank facility in New
Certified Treasury Professional. Andrea’s experience and expertise
Waverly. Previously, this branch had been in a leased retail office
have already made a big difference in this important line of business,
space without a drive-in and ATM. Our beautiful new location has
A Letter To Our Shareholders :: Page 4
A Letter To Our Shareholders :: Page 5
which provides our commercial customers with the latest in
Bank Board of Directors and has continued as a Kingwood
products, services and technology.
Regional Director following our purchase of Commercial State
In December 2018, John Ruzicka was named Executive Vice
Bank on January 1, 2018. He is also the Founding Member,
President and Chief Information Officer of the Company, as
Director and Co-Owner of Frisco Professional Building
well as Chairman, President and CEO of First Technology
Investors, Ltd. and Fast Fusion, LLC, along with being
Services, Inc., our technology subsidiary. John has more than
Managing Director of 3MCB Investments, LLC.
21 years of experience in the banking technology business. His
knowledge, experience and expertise will be instrumental in
expanding the information technology and strategic capabilities
of our company.
At the end of 2018, Justin Hooper added the titles of Chairman
and CEO to his President’s position upon Jay Gibbs’s
retirement as Chairman and CEO of the Weatherford Region.
Jay had been with the Bank for 16 years and had led that
region as Chairman, CEO and President for the past six years.
Also at the end of the year, June Wideman, my assistant,
retired after a 35-year tenure with the Company. June
exemplified Customer Service First, and we will miss her
mentorship and expertise.
We thank Tom O’Neil, Robert Pate, Jay Gibbs, June Wideman
and Michele Stevens for their long and valued service to our
company, and we congratulate them on their well-deserved
retirements.
NEW DIRECTORS
LOOKING AHEAD
The Texas economy continues to be strong. In each of the
last two years, it has created more than 300,000 new jobs,
surpassing the record of every other state including California,
which has a larger population. Unemployment rates continue
to stay low, at around four percent, even though we have had
fluctuations in oil and gas prices and continued increases in
interest rates.
We have identified many areas where we can improve our
bottom line, such as growing loans and deposits, enhancing
noninterest income and decreasing expenses, while taking
advantage of our state’s continued strong economy. As in the
past, we are proceeding strategically, searching diligently to
acquire, at the right price, well-managed banks that fit our
culture and will bring long term value to our company.
With net income surpassing the $150 million mark, the
Company enjoyed its best year ever in 2018. This type of
We are pleased to announce that Mike Denny, President of
performance does not just happen. It results directly from
Batjer & Associates, Inc. Mechanical Contractors, and Robert
the hard work and dedication of our boards, officers and
C. Nickles, Jr., Founder and Executive Chairman of Alegacy
employees. I congratulate and thank them for a job well done.
Group, LLC, have accepted nominations for election as
Directors of the Company at our Annual Shareholders’ Meeting
in April 2019.
Our customers, stockholders and employees are our most
valuable assets, and we would not be where we are today
without you. Thank you for your loyalty and support.
F. Scott Dueser
Chairman, President and CEO
Mike Denny is an Abilene native who graduated from The
University of Texas at Austin with a Bachelor of Business
Administration degree in Finance. After returning to Abilene
42 years ago, he was employed by Batjer & Associates and
moved up to become its Owner and President.
Under his leadership, Batjer grew to be the largest mechanical
contracting company in this area of Texas. He is also Vice
President and Partner of Batjer Services, LLC. He has served
on the First Financial Bank, Abilene Region Board for 14 years,
and has served on the Abilene Board’s Loan Committee.
Bob Nickles founded the Alegacy Group, LLC in 2013, and
within five years grew the company to be the second largest
gas compressor packager in the world. He is a graduate of
Oklahoma State University and, over the last 28 years, has
worked for or owned numerous manufacturing and engineering
companies. In 2010, he was elected to the Commercial State
Amarillo
Abilene
Dallas
Fort Worth
Odessa
San Angelo
Waco
Huntsville
Austin
Conroe
Orange
San Antonio
Houston
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 ............ 254.629.6188
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
Houston* ............ 281.318.4625
Huntsville .......... 936.295.2224
Katy-Fulshear .... 281.346.0221
Keller .................. 817.329.8625
Kingwood ......... 281.318.4600
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
Spring ................... 346.328.6910
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 ............ 972.723.7100
Weatherford............ 817.598.2500
Willis........................ 936.890.3500
Willow Park ............. 817.598.2780
* Trust Office and Bank location
A Letter To Our Shareholders :: Page 6
A Letter To Our Shareholders | Bank Locations :: Page 7
FINANCIAL HIGHLIGHTS
IN THOUSANDS (except for share data)
IN THOUSANDS (except for share data)
FOR THE YEAR
2018
2017
% INCREASE
FOR THE YEAR
2018
2017
% INCREASE
NET INCOME
$150,638
$120,371
25.14%
AT YEAR-END
Basic Earnings (PER SHARE)
$2.23
$1.82
22.53%
Dividends Declared
$55,499
$49,648
11.78%
Dividends (PER SHARE)
$0.82
$0.75
9.33%
Assets
Securities
Loans
Deposits
$7,731,854 $7,254,715
6.58%
$3,158,777 $3,087,473
2.31%
$3,975,308 $3,500,699
13.56%
$6,180,389 $5,962,961
3.65%
$7,606,732
$6,981,511
8.96%
$3,197,107 $2,964,650
7.84%
$3,828,040 $3,435,447
11.43%
Shareholders’ Equity
$1,053,295
$922,768
14.15%
Book Value Per Share
$15.55
$13.93
11.63%
$6,176,619
$5,627,933
9.75%
Trust Assets (Book Value)
$4,293,615 $3,865,744
11.07%
AVERAGES
Assets
Securities
Loans
Deposits
Shareholders’ Equity
$980,206
$882,813
11.03%
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)
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
Ten-Year
Compound
Growth Rate
$3,279,456
$415,702
$53,797
$0.86
$0.46
$3,776,367
$441,688
$59,659
$0.96
$0.46
–
–
$6.66
$18.08
$7.03
$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
$0.50
$5,222,208
$587,647
$78,868
$1.24
$0.52
–
–
$8.84
$19.51
$9.18
$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
$0.62
$6,809,931
$837,885
$104,774
$1.59
$0.70
$7,254,715
$922,768
$120,371
$1.82
$0.75
$7,731,854
$1,053,295
$150,638
$2.23
$0.82
9.18% 11.07% 10.98%
9.99%
6.18%
–
–
–
–
–
$12.20
$30.17
$12.68
$45.20
$13.93
$45.05
$15.55
$57.69
10.16%
12.10%
Adjusted for stock dividends and splits
NET INCOME GROWTH (in thousands)
KEY RATIOS
2018
2017
2017 COMMON STOCK MARKET VALUE AND DIVIDEND DATA
NET INTEREST MARGIN
2014
$89,559
2015
$100,381
2016
$104,774
2017
$120,371
2018
$150,638
Return On Avg. Assets
1.98%
1.72%
Return On Avg. Equity
15.37%
13.63%
Year-End Equity/Assets
13.62%
12.72%
Efficiency
49.72%
49.26%
QUARTER
HIGH
LOW
CLOSE
DIVIDENDS
Fourth
$48.85
$43.05
$45.05
$0.19
Third
$46.00
$37.31
$45.20
$0.19
Second
$44.80
$36.85
$44.20
$0.19
First
$46.45
$37.55
$40.10
$0.18
2014
4.20%
2015
4.12%
2016
4.08%
2017
4.01%
2018
3.96%
RETURN ON AVERAGE EQUITY
EFFICIENCY RATIO
2014
14.00%
2015
13.60%
2016
12.36%
2017
13.63%
2018
15.37%
2014
49.24%
2015
47.61%
2016
49.22%
2017
49.26%
2018
49.72%
2018 COMMON STOCK MARKET VALUE AND DIVIDEND DATA
RETURN ON AVERAGE ASSETS
QUARTER
HIGH
LOW
CLOSE
DIVIDENDS
Fourth
$66.83
$53.45
$57.69
$0.21
Third
$61.86
$50.55
$59.10
$0.21
Second
$56.35
$45.05
$50.90
$0.21
First
$49.60
$44.05
$46.30
$0.19
2014
1.65%
2015
1.61%
2016
1.59%
2017
1.72%
2018
1.98%
Financial Highlights :: Page 8
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
David W. Bailey
President, Eastland Division
Joseph Crouch
President,
Sweetwater Division
Rodney Foster
Executive Vice President
Senior Lending Officer
Sweetwater
Vance Jones
Executive Vice President
Commercial Lending
Jay Kidwell
Executive Vice President
Commercial Lending
Eastland
Janet O’Dell
Executive Vice President
Mortgage Loans
Andrea Smiddy-
Schlagel
Executive Vice President
Treasury Management
Charles E. Tennesson
Executive Vice President
CFO and Chief Operations
Officer
Michael Wolverton
Executive Vice President
Consumer Lending
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
Marshall Morris
Senior Vice President
Corie O’Connor
Senior Vice President
Ryan Parrish
Senior Vice President
Mark Pierce
Senior Vice President
RONALD D. BUTLER II
Chairman and CEO
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
JOSEPH CROUCH
President, Sweetwater Division
SWEETWATER OFFICE
201 Elm St.
Sweetwater, TX 79556
325.235.6600
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
Joseph Crouch
President
Sweetwater Division
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.
Jim Keffer
President
EBAA Iron Sales, Inc.
David Copeland, CPA
President, SIPCO, Inc. and
Shelton Family Foundation
Tim Lancaster
Former President and CEO
Hendrick Health System
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
Geoff Haney
President, CEO, Partner
Cape and Son
Commodity Merchandising
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
Abilene
Dayton Borger, Vice President and Commercial Lender in Abilene,
made the Financial Exploitation/Fraud Busters presentation to
more than 80 employees of the Texas Department of Aging and
Disability to share how to protect yourself from fraud. “With the
fast pace of technology, it is imperative that all aspects of banking
and law enforcement engage with the sharing of information to
stop fraud before it costs customers, businesses and society.”
Detective Gabe Thompson of the Abilene Police Department’s
Fraudstrike Force said, “First Financial Bank leads the market in
proactive cooperation with law enforcement to ensure that the
perpetrators of fraud-related crime are properly prosecuted.”
IN THOUSANDS
ASSETS
LOANS
DEPOSITS
NET INCOME
RETURN ON AVG. ASSETS
EFFICIENCY RATIO
Dec. 31, 2017
$2,458,780
$994,088
$1,968,632
$40,560
Dec. 31, 2018
$2,546,087
$1,037,688
$1,948,559
$49,774
1.67%
2.00%
42.22%
43.83%
Bank Information :: Page 10
Bank Information :: Page 11
CLEBURNE REGION
Cleburne | Burleson | Alvarado | Midlothian | Waxahachie
CONROE REGION
Conroe | Montgomery | Magnolia | Willis | Tomball | Cut and Shoot | Huntsville | New Waverly | Spring
SENIOR OFFICERS
REGIONAL DIRECTORS
Austin EIsner
Chairman, President and CEO
Austin EIsner
Chairman, President and CEO
Duane Thomas
Cleburne Market President
Senior Lending Officer
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
AUSTIN ELSNER
Chairman, President and CEO
MAIN OFFICE
200 N. Ridgway Dr.
Cleburne, TX 76033
817.774.5100
Mark Hill
Utility Construction Consultant
Tim Lyness
Lyness Construction, LP
Jack Scott
Bell-Scott Insurance Group
Alecia Bland
Senior Vice President
Kim Hamilton
Senior Vice President
John Knight
Senior Vice President
Chris Schjetnan
Senior Vice President
Stacey Sloan
Senior Vice President
John Mendez
Vice President
Asst. Chief Operations Officer
IN THOUSANDS
ASSETS
LOANS
DEPOSITS
NET INCOME
RETURN ON AVG. ASSETS
EFFICIENCY RATIO
Dec. 31, 2017
$506,842
$198,055
$455,066
Dec. 31, 2018
$553,299
$195,672
$497,224
$6,669
$8,007
1.42%
1.73%
50.35%
53.61%
Cleburne
Austin Elsner, President and CEO in Cleburne,
sponsored a Cleburne Chamber of Commerce new
member luncheon to educate local businesses on
various business fraud tactics and how to prevent
fraudulent check activity using First Financial’s Positive
Pay tool. If your business has not seen our Fraud
Prevention presentation, please call us because it’s
important to know how to identify and prevent fraud
from affecting your business.
SENIOR OFFICERS
REGIONAL DIRECTORS
Sam W. Baker
Chairman, President and CEO
Sam W. Baker
Chairman, President and CEO
J. Bruce Hildebrand, CPA
First Financial Bankshares, Inc.
Kirby Cason
President, Huntsville Division
Kirby Cason
President, Huntsville Division
Curtis Montgomery, M.D.
Physician
SAM W. BAKER
Chairman, President and CEO
MAIN OFFICE
1800 W. White Oak Terrace
Conroe, TX 77304
936.760.1888
KIRBY CASON
President, Huntsville Division
MAIN OFFICE
33 SH 75 North
Huntsville, TX 77320
936.295.2224
G. Bart Griffith
Executive Vice President
Senior Lending Officer
Lee Warren
Executive Vice President
Chief Operations Officer
Michelle Murray
Executive Vice President
Treasury Management
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
Robert Pate
Retired President
Huntsville Division
Johnny Peet, Jr., M.D.
Physician
John Sebastian
Conroe Golf Cars
Randy Roan
Commercial Construction
James B. Bexley
Advisor, Sam Houston
State University
Donnie Buckalew
Buckalew Chevrolet
John J. Certa, Jr.
Owner
Team Auto Group
Casey Collum
Owner
Collum Development
Candyce F. Dixon
CPA
Chris deMilliano
Operations Manager
Steely Lumber Company
Dan Dominey
DBD Interests
Lloyd Tisdale
Investments
F. Scott Dueser
First Financial Bankshares, Inc.
Robert C. Ernst, Jr.
Owner
Ernst Jewelers
IN THOUSANDS
ASSETS
LOANS
DEPOSITS
NET INCOME
RETURN ON AVG. ASSETS
EFFICIENCY RATIO
Dec. 31, 2017
$625,135
$446,624
$514,414
Dec. 31, 2018
$659,492
$474,416
$541,753
$8,607
$11,284
1.42%
1.71%
55.80%
55.45%
Conroe
Lee Warren, Executive Vice President in Conroe, and Jeff Smith, Sergeant of
the Property and Financial Crimes Unit of the Conroe Police Department, work
closely to stop fraud. “The hard work of our frontline staff led to the arrest of
many criminals over the past two years and, due to the quick response and
support of local law enforcement, including the Conroe Police, Montgomery
County Sheriff and the FBI, the Region was able to save our customers more
than $1 million dollars in fraudulent transactions,” said Warren.
Bank Information :: Page 12
Jeff Smith and Lee Warren
Bank Information :: Page 13
FORT WORTH REGION
HEREFORD REGION
SENIOR OFFICERS
REGIONAL DIRECTORS
Martin J. Noto, Jr.
President and CEO
Les Mariotti
Executive Vice President
Chief Operations Officer
Jayson Green
Senior Vice President
Chris Shah
Senior Vice President
MARTIN J. NOTO, JR.
President and CEO
MAIN OFFICE
1000 Forest Park Blvd.
Fort Worth, TX 76110
817.410.4970
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.
Nancy Jones
Past President and CEO
North Texas Community
Foundation
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
MIKE MAULDIN
Chairman, President and CEO
MAIN OFFICE
212 E. Third St.
Hereford, TX 79045
806.363.8200
Tim Laws
Executive Vice President
Senior Lending Officer
Robert de la Cruz
Executive Vice President
Mathew Rodriguez
Vice President
Chief Operations Officer
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, 2017
$88,166
$75,356
$87,153
Dec. 31, 2018
$148,047
$136,444
$76,704
IN THOUSANDS
ASSETS
LOANS
DEPOSITS
NET INCOME
RETURN ON AVG. ASSETS
EFFICIENCY RATIO
Dec. 31, 2017
$213,761
$146,287
$183,981
Dec. 31, 2018
$203,853
$144,677
$170,061
$3,587
$4,155
1.82%
2.02%
44.31%
45.49%
Fort Worth
Martin Noto, President and CEO in Fort Worth,
presented the Bank’s Financial Exploitation of the
Elderly seminar to the Como Senior Center in Fort
Worth. Our senior population is susceptible to financial
exploitation and abuse by strangers and family
members alike. According to Consumer Reports, senior
citizens lose $36.5 billion each year to financial abuse
and approximately 36.9% of seniors are affected in any
five-year period – a statistic that is more than twelve
times what was previously reported. Our Fort Worth
Region was recently selected as the only AARP Age
Friendly Bank in Texas and will do everything it can to
stop Financial Exploitation.
Hereford
Matthew Rodriguez, Vice President, presented
a program on elder financial abuse to more than
60 residents and staff of King’s Manor Methodist
Retirement Home. He also provided one-on-one
counseling to several residents, listened to firsthand
stories on how some residents have been previously
scammed and educated residents on prevalent
exploitive scams, including lottery or sweepstakes
scams, IRS/Social Security scams, home repair scams
and charitable giving scams. For more information on
how these scams work and to identify them, please visit
https://www.ffin.com/financial-exploitation.
Bank Information :: Page 14
Bank Information :: Page 15
KINGWOOD REGION
Kingwood | El Campo | Fulshear | Palacios
SAN ANGELO REGION
HARRY J. BROOKS
Chairman, President and CEO
MAIN OFFICE
24080 Hwy 59 N. Suite 250
Kingwood, TX 77339
281.318.4600
SENIOR OFFICERS
REGIONAL DIRECTORS
Harry J. Brooks
Chairman, President and CEO
Harry J. Brooks
Chairman, President and CEO
Shelley Dacus
Executive Vice President
Senior Lending Officer
Sam Baker
Chairman, President and CEO
First Financial Bank,
Conroe Region
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
Jeff Cravey, CPA
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
Robert Nickles
Principal
Alegacy
IN THOUSANDS
ASSETS
LOANS
DEPOSITS
NET INCOME
RETURN ON AVG. ASSETS
EFFICIENCY RATIO
Dec. 31, 2018
$364,998
$318,722
$300,792
$6,055
1.63%
56.13%
*Acquired January 1, 2018
Kingwood
James Alexander, Executive Vice President, trained
Kingwood employees on how to spot and prevent
fraud perpetrated on our customers in conjunction
with the Bank’s Fraud Busters Program. Employees
were specifically trained on how to recognize signs
and behaviors that can indicate possible exploitation
of our customers. Several examples include the victim
suddenly changes how they handle routine transactions,
withdrawing large sums of cash without wanting to share
details, appearing withdrawn or overly stressed when
making financial decisions or mentioning they no longer
receive bank-issued mail or important documents.
CHRIS EVATT
Chairman, President and CEO
MAIN OFFICE
222 S. Koenigheim
San Angelo, TX 76903
325.659.5900
SENIOR OFFICERS
REGIONAL DIRECTORS
Chris Evatt
Chairman, President and CEO
Chris Evatt
Chairman, President and CEO
Cindy George
Executive Vice President
Chief Operations Officer
Lindy Jordan
Executive Vice President
Senior Lending Officer
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.
Carlos Rodriguez
Attorney
Webb, Stokes and Sparks
Mary Jane Steadman
Attorney
Real Estate Investment
Management
IN THOUSANDS
ASSETS
LOANS
DEPOSITS
NET INCOME
RETURN ON AVG. ASSETS
EFFICIENCY RATIO
Dec. 31, 2017
$715,102
$209,851
$625,777
Dec. 31, 2018
$747, 422
$207,503
$632,514
$11,928
$13,912
1.71%
1.87%
36.78%
37.48%
San Angelo
Residents of the Baptist Retirement Community in San
Angelo welcomed a presentation by Brooke Weldon,
Reba Priddy, Chris Evatt and Lindy Jordan. The residents
greatly appreciated the fact that the Bank wanted to
educate them about ways fraudsters exploit the elderly.
Fraudsters are becoming increasingly more sophisticated
in the way they attempt to steal information from
consumers. With more consumers going online, those
perpetrating fraud can make fraudulent emails look
legitimate in order to gain access to banking or other
financial information. This type of fraud is called phishing,
and it is on the rise now more than ever. Be careful when
clicking links in emails or entering sensitive information
when sent via email. These could be indications someone
is trying to steal your information.
Bank Information :: Page 16
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
Mid County Market President
Commercial Lender
Robert Kocot
Beaumont Market President
Commercial Lender
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
Tommy Gunn
Chairman of the Board
Attorney at Law
Stephen Lee
CEO and President
Dr. Ray Callas
Managing Partner
Anesthesia Associates, PLLC
F. Scott Dueser
First Financial Bankshares, Inc.
Len Forey
Managing Partner
Higginbotham Insurance
Jim Gilliam
President
Bates & Company
Owner
The HT Group
J. Bruce Hildebrand, CPA
First Financial Bankshares, Inc.
Chad Mason
Vice President
Mason Construction
Mike Poutra
Retired - Former Owner
Dominion Forms
Walter G. Riedel, III
Chairman of the Board
Nelda C. and H.J. Lutcher
Stark Foundation
Dayna Simmons
Realtor
Team Dayna Simmons
Ross Smith
President
Akrotex, Inc.
Owner
Sabine River Ford, Inc.
Kevin Williams
President
Cypress Bayou Industrial
Owner
American Industrial
Minerals, Inc.
Jim Wimberley
Attorney at Law
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, 2017
$592,473
$396,550
$504,055
Dec. 31, 2018
$584,018
$405,786
$488,496
$8,375
$11,449
1.57%
1.91%
49.08%
46.60%
IN THOUSANDS
ASSETS
LOANS
DEPOSITS
NET INCOME
RETURN ON AVG. ASSETS
EFFICIENCY RATIO
Dec. 31, 2017
$588,805
$380,863
$530,925
Dec. 31, 2018
$504,778
$388,885
$440,891
$8,291
$9,607
1.59%
1.86%
52.25%
52.39%
Southeast
Southeast Region President and CEO, Stephen Lee,
discussed elder abuse and financial exploitation with
past Athena Award recipients at the Athena Award
Breakfast at the Brown Center in Orange. Detective
CJ Foreman, Orange Police Department, praised the
Bank for always being willing to assist the Department
by providing requested information in reference to
active cases, which causes the case investigations to
move quickly and efficiently. “I applaud the team at
First Financial Bank for their willingness and support of
the criminal investigation division of the Orange Police
Department,” Foreman said.
Southlake
Mark Jones, President and CEO in Southlake, invited Lori
Varnell, Chief of Elder Financial Fraud of the Tarrant County
Criminal District Attorney’s Office, to speak to employees
about scam activity in Tarrant County. Ms. Varnell stated
that in Tarrant County the most common fraud she sees is
by the children of a widowed mother. Often there is a drug,
alcohol or gambling problem and to feed the habit, the child
steals from the mother. The second most common fraud her
office sees is by hired caregivers. The third most prevalent
fraud perpetrated is “sweetheart scams,” where a younger
individual targets an elderly victim. Ms. Varnell suggests if a
loved one you know receives a letter or email from someone
overseas promising to move to America and marry them in
exchange for the payment of attorney or immigration fees,
please contact your local law enforcement immediately.
Bank Information :: Page 18
Bank Information :: Page 19
STEPHENVILLE REGION
Stephenville | Granbury | Glen Rose | Acton | Mineral Wells
WEATHERFORD REGION
Weatherford | Aledo | Willow Park | Brock
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
TRENT B. SWEARENGIN
Chairman, President and CEO
Cory Crenshaw
Mineral Wells Market President
Ronald D. Butler II
First Financial Bankshares, Inc.
MAIN OFFICE
2201 W. South Loop
Stephenville, TX 76401
254.965.5036
Bart Rodgers
Granbury Market President
Dereece Howell
Executive Vice President
Chief Operations Officer
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
George Gault
Attorney
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, 2017
$815,630
$421,952
$693,365
Dec. 31, 2018
$843,698
$426,754
$719,035
$13,989
$17,374
1.78%
2.11%
44.59%
45.20%
Stephenville
Bart Rodgers, Granbury Market President,
presented a program on Financial Exploitation of
the Elderly at the Courtyards of Lake Granbury.
Bart listened to stories of attempted exploitation
of the elderly and provided tips to help avoid
becoming a victim. Some of these tips include
knowing that if something sounds too good to
be true, it probably isn’t true, keeping personal
information private, shredding bank statements,
old credit and debit cards and checking your
credit report once a year.
SENIOR OFFICERS
REGIONAL DIRECTORS
Justin Hooper
Chairman, President and CEO
Justin Hooper
Chairman, President and CEO
JUSTIN HOOPER
Chairman, President and CEO
MAIN OFFICE
101 College Park Dr.
Weatherford, TX 76086
817.596.0307
Les Mariotti
Executive Vice President
Chief Operations Officer
Chris Cregger
Senior Vice President
Lori Hill
Senior Vice President
Jimmie Sue Lawson
Senior Vice President
Sean Woodring
Senior Vice President
Senior Lending Officer
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
Former President and CEO
C.D. Hartnett Company
Mike White, O.D.
Therapeutic Optometrist
IN THOUSANDS
ASSETS
LOANS
DEPOSITS
NET INCOME
RETURN ON AVG. ASSETS
EFFICIENCY RATIO
Dec. 31, 2017
$566,656
$222,914
$481,422
Dec. 31, 2018
$560,593
$228,936
$473,062
$8,203
$10,571
1.58%
1.86%
49.44%
50.68%
Weatherford
Randy Roewe, Executive Vice President and Chief Risk Officer
of the Holding Company, presented the Financial Exploitation/
Fraud Busters Program to more than 154 members of the East
Parker County Chamber of Commerce.
“Just as with many other areas of law enforcement, our
success in solving financial crimes is highly dependent on
collaboration between the Department, local businesses
and our citizens. Because of this, the Weatherford Police
Department values our partnerships with all of our local
financial institutions including First Financial Bank. It is
through these partnerships that we are able to successfully
solve financially related crimes, protect potential victims
and educate the public about the latest fraud scams,” said
Detective Chris Beniak of the Weatherford Police Department.
Bank Information :: Page 20
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: Cynthia Watson, Michael Greenhaw, Laurinda Thomas, Larry Williams, John Ruzicka, David Weems, Amy O’Neal, Sammy Scott,
Isabel Montoya
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
2018 was another good year for First Financial Mortgage.
In spite of an increase in long-term mortgage rates, pricing
competition and a rise in home values, it successfully
helped 1,984 individuals and families with their home
financing needs totaling $464 million in originations.
Technology advances continue to bring positive changes
to the mortgage industry. First Financial Mortgage
successfully launched its digital Mortgage App in 2018.
We are always striving to improve our customer’s
experience with the right technology - and with a
personal touch.
We continue to enjoy a healthy housing market in Texas.
First Financial Mortgage is well-positioned in some of the
fastest growing areas in the State. We believe these growth
areas will continue to provide many positive opportunities
for our company in 2019.
SENIOR OFFICERS
DIRECTORS
John Ruzicka
Chairman, President and CEO
Isabel Montoya
Senior Vice President
Deposit Operations
John Ruzicka
Chairman, President and CEO
First Technology Services, Inc.
Executive Vice President and CIO
First Financial Bankshares, Inc.
Cynthia Watson
Senior Vice President
Chief Information Security Officer
April Anthony
Chief Executive Officer
Encompass Home Health
Homecare Homebase
David Weems
Senior Vice President
Chief Operations Officer
Larry Williams
Senior Vice President
Technical Architecture
Michael Greenhaw
Vice President
Senior System Analyst
Sammy Scott
Vice President
End User Support Manager
Laurinda Thomas
Assistant Vice President
Debit Card and
Loss Prevention Manager
Amy O’Neal
Operations Officer
Items Processing Manager
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 :: Page 22
First Technology Services :: Page 23
Abilene | Beaumont | Fort Worth | Odessa | San Angelo | Stephenville | Sweetwater
Back Left to Right: Barbara Hill , David Byrd, Wayne Chowning, Lon Biebighauser, Brent S. Miller, Konrad S. Halbert
Front: Left to Right David Castleberry, Kirk W. Thaxton, Bradley D. Brown
Back Left to Right: Tony Gorman, Mike Wolverton, Rick Howard, Brandon Barker, Gary Milliorn, Brandon Harris, Frank Gioia, Will Christoferson
Front: Left to Right Andrea Smiddy-Schlagel, Monica Houston, Michele P. Stevens
First Financial Trust & Asset Management Company
Line Of Business Executives
First Financial Trust & Asset Management Company delivered
excellent results in 2018. Total assets under management at year-
end had a book value of $4.29 billion, an 11.1 percent increase from
$3.87 billion at the end of 2017. The market value of the assets
totaled $5.60 billion, a gain of 9.1 percent from $5.13 billion. For
the year, total fee income increased 19.0 percent to $28.2 million
from $23.7 million in 2017, and net earnings after tax increased 57.7
percent to $13.5 million from $8.6 million.
We were pleased to add a new director to our board. Mark Rich,
Director of Investments for the Kimbell Art Foundation, was elected
to the board and will also serve on our Investment Committee. Mark
is a valuable addition to our board.
In December, we were pleased to announce the opening of our
eighth trust office, which is located in the Houston area. Brent Miller
will lead this office, and we look forward to its growth and success.
Trust Assets (in millions)
2014
$2,774
2015
2016
2017
2018
$3,060
$3,374
$3,866
$4,294
Trust Fees (in millions)
2014
2015
$0
2016
2017
$18.77
$19.25
$19.64
$23.69
$28.18
2018
Trust Net Income (in millions)
2014
2015
2016
2017
2018
$7.109
$7.449
$7.190
$8.579
$13.532
Trust & Asset Management :: Page 24
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
Brent S. Miller
Senior Vice President
Manager, Houston
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
Mark K. Rich
Director of Investments
Kimbell Art Foundation
Walter G. Riedel, III
Chairman of the Board
Nelda C. and H.J. Lutcher
Stark Foundation
ADVISORY DIRECTOR
John L. Beckham
Attorney
Beckham Rector and Eargle LLP
Our line of business executives bring their expertise to our
company to ensure we have the best in staffing, products
and services for our customers. Their job is to continue to
upgrade our lines of business while assisting our regional
presidents to maximize the utilization of those products
and services.
We welcome Andrea Smiddy-Schlagel as Executive
Vice President of Treasury Management. Andrea has the
experience and expertise required to lead our treasury
management team so we will be the bank of choice for
every business customer.
We also welcome Will Christoferson, Vice President of
Advertising and Marketing, who will replace Michele
Stevens when she retires in May of 2019. Michele, who has
been with the Company for 22 years, has been the driving
force behind our marketing initiatives during all that time.
We thank her for her dedication to the Company and wish
her well on her upcoming and well-deserved retirement.
Our line of business executives are key to the continued
growth and success of the Company and to our
commitment to put YOU FIRST.
SENIOR OFFICERS
Monica Houston
Executive Vice President
Retail Banking and Training
Andrea Smiddy-Schlagel
Executive Vice President
Treasury Management
Michele P. Stevens
Executive Vice President
Advertising and Marketing
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
Will Christoferson
Vice President
Advertising and Marketing
Gary Milliorn
Vice President
Property Manager
Brandon Barker
Co-Manager
First Financial Investment Advisors
Rick Howard
Co-Manager
First Financial Investment Advisors
Line of Business Executives :: Page 25
Back: Lawrence B. Kentz, Marna Yerigan, Kyle McVey, Luke Longhofer, Randy Roewe, Tim Collard, Kirk W. Thaxton, John Ruzicka,
Gary S. Gragg, Michele P. Stevens
Front: Ronald D. Butler II, F. Scott Dueser, J. Bruce Hildebrand, Monica Houston
Back: Ron Giddiens, Johnny E. Trotter, April Anthony, F. Scott Dueser, Kade Matthews, David Copeland
Front: Tucker S. Bridwell, Ross H. Smith, Tim Lancaster, Murray Edwards
Corporate Information
Board Of Directors
OFFICERS:
ANNUAL MEETING
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
Chief Lending Officer
Luke Longhofer
Executive Vice President
Chief Credit Officer
Randy Roewe
Executive Vice President
Chief Risk Officer
John Ruzicka
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
Tuesday, April 23, 2019
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
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
SEND CERTIFICATES FOR
TRANSFER AND ADDRESS
CHANGES TO:
Continental Stock Transfer &
Trust Company
1 State Street
30th floor
New York, NY 10004
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 “believes,” “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, 2018,
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: Tim Lancaster, Chairman
4. Nominating/Corporate Governance Committee:
Tucker S. Bridwell, Chairman
5. Bank Directors’ Loan Committee:
Murray Edwards, Chairman
F. Scott Dueser
Chairman of the Board,
President and CEO
First Financial Bankshares, Inc.
April Anthony
CEO
Encompass Home Health
Homecare Homebase
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
Former 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
2007
1, 4, 5
1998
1, 2, 4
2006
1, 2, 4, 5
2009
2, 5
2013
1, 2, 3, 4
1998
3
2014
3, 5
2003
1, 3, 4
Corporate Informations :: Page 26
Board of Directors :: Page 27
400 Pine St., Abilene, TX 79601 | 325.627.7200 | ffin.com