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2021 ANNUAL REPORT
TM.
,
FFIN2021-AnnualReport-Updated.indd 1
3/14/2022 2:00:16 PM
FIRST FINANCIAL PAVING A
PATH TO THE FUTURE
C
I
O
A
G
M
B
H
N
Paving a Path to the Future | Annual Report 2021 | 2
FFIN2021-AnnualReport-Updated.indd 2-3
D
J
E
K
F
L
A) Wise County Chamber of Commerce
Large Business of the Year in Wise County - Four consecutive years
H) 2021 Best-In-State-Banks
First Financial Bank
B) Keefe, Bruyette & Woods - Guardians of Growth
First Financial Bank
C) Society Life Magazine – Tops in Tarrant County
Southlake Region - Best Bank in Tarrant County - Seven consecutive years
D) TBA Award – Texas Heritage Community Banker
F. Scott Dueser
E) Stephenville Empire-Tribune – Best of Erath County
Best Bank, Best Mortgage Lender - Blayne Baley, Best Personal Loan
F) Abilene Reporter News – Readers’ Choice Awards
Best Bank, Best Financial Planning/Advice, Best Mortgage Company
G) Deaf Smith County Awards – Best of Hereford
Best Bank, #1 Bank Teller - Jeff Smith, #2 Bank Teller - Hope Martinez,
Best Volunteer for 2021 - Tim Laws, Best Musician - Jeff Smith, and Best Cup of Coffee
I) Sweetwater Reporter – Readers’ Choice Awards
Best Financial Institution - 13 years in a row, Best Financial Advisor - Wayne Chowning
Best Bank Teller - Crystal Martinez
J) Bank Director – Best Small Regional Banks
First Financial Bank - #2 in the Nation
K) Living Magazine – Readers’ Choice Awards
Best Financial Institution (Five years in a row) - Keller Branch - Southlake Region
L) San Angelo Chamber of Commerce – Outstanding Member
San Angelo Region
M) Southeast Texas – Multiple Readers’ Choice Awards
Best Commercial Bank, Best Banker - Blaine Caillier
N) Top Originators in the Nation - Scotsman Guide
Sarah Beall, Kami Graves, Ryan Craig, Steve Harding, and Corie O’Connor
O) Bank Director Magazine – Top Rated Bank in the Country
First Financial Bank - #2 for 2021
Paving a Path to the Future | Annual Report 2021 | 3
3/14/2022 2:00:24 PM
C
I
O
A
G
M
B
H
N
Paving a Path to the Future | Annual Report 2021 | 2
FFIN2021-AnnualReport-Updated.indd 2-3
FIRST FINANCIAL PAVING A
PATH TO THE FUTURE
D
J
E
K
F
L
A) Wise County Chamber of Commerce
Large Business of the Year in Wise County - Four consecutive years
H) 2021 Best-In-State-Banks
First Financial Bank
B) Keefe, Bruyette & Woods - Guardians of Growth
First Financial Bank
C) Society Life Magazine – Tops in Tarrant County
Southlake Region - Best Bank in Tarrant County - Seven consecutive years
D) TBA Award – Texas Heritage Community Banker
F. Scott Dueser
E) Stephenville Empire-Tribune – Best of Erath County
Best Bank, Best Mortgage Lender - Blayne Baley, Best Personal Loan
F) Abilene Reporter News – Readers’ Choice Awards
Best Bank, Best Financial Planning/Advice, Best Mortgage Company
G) Deaf Smith County Awards – Best of Hereford
Best Bank, #1 Bank Teller - Jeff Smith, #2 Bank Teller - Hope Martinez,
Best Volunteer for 2021 - Tim Laws, Best Musician - Jeff Smith, and Best Cup of Coffee
I) Sweetwater Reporter – Readers’ Choice Awards
Best Financial Institution - 13 years in a row, Best Financial Advisor - Wayne Chowning
Best Bank Teller - Crystal Martinez
J) Bank Director – Best Small Regional Banks
First Financial Bank - #2 in the Nation
K) Living Magazine – Readers’ Choice Awards
Best Financial Institution (Five years in a row) - Keller Branch - Southlake Region
L) San Angelo Chamber of Commerce – Outstanding Member
San Angelo Region
M) Southeast Texas – Multiple Readers’ Choice Awards
Best Commercial Bank, Best Banker - Blaine Caillier
N) Top Originators in the Nation - Scotsman Guide
Sarah Beall, Kami Graves, Ryan Craig, Steve Harding, and Corie O’Connor
O) Bank Director Magazine – Top Rated Bank in the Country
First Financial Bank - #2 for 2021
Paving a Path to the Future | Annual Report 2021 | 3
3/14/2022 2:00:24 PM
A LETTER TO OUR SHAREHOLDERS
Two years ago, at the start of
the pandemic, we decided
not to lock our doors but to
come to work instead. We
vowed that we would learn to
manage through the pandemic
so we would be available to
serve our customers every day.
Moreover, we would make our
facilities the safest place for our
employees and customers to
work and visit. Little did we
know that this decision, along
with some prior preparation, would
set us up to have the largest growth the
company has ever experienced. Over the past
two years, we achieved organic growth of approxi-
mately $4.0 billion—which is similar to buying a $4.0
billion bank without paying for it or incurring the asso-
ciated transaction costs. Our employees, branches,
systems and capital have absorbed this large growth
without any problems, and we intend to build on the
momentum that this has created for our company.
We were well prepared to meet the challenges of
operating through the pandemic and to serve our
customers and communities. We had already made
excellent customer service a top priority, with one
of our pre-2020 initiatives being the training of our
employees by Horst Schulze, cofounder of The Ritz-
Carlton Hotel Company and renowned legend in the
customer service arena. In addition, since we had
recently updated our company website, we were able
to communicate with our customers at a moment’s
notice, and we were able to put the Payment Protec-
tion Program (PPP) application on our digital loan
(cid:81)la(cid:85)(cid:71)(cid:80)(cid:83)(cid:78)(cid:1)(cid:84)(cid:80)(cid:1)c(cid:86)(cid:84)(cid:85)(cid:80)(cid:78)e(cid:83)(cid:84)(cid:1)c(cid:80)(cid:86)l(cid:69)(cid:1)fill(cid:1)(cid:80)(cid:86)(cid:85)(cid:1)(cid:85)(cid:73)e(cid:1)a(cid:81)(cid:81)lica(cid:85)i(cid:80)n(cid:1)
on their cell phone or computer and immediately send
it to us for processing.
Our employees worked through each night to rapidly
process the PPP loans. We quickly received statewide
recognition for this effort, which brought customers to
us from other banks that couldn’t process their applica-
tions. When these new customers asked us to do their
PPP loans, we asked them for all their business, and
in most cases, we got it. Over the last two years, we
have originated $970.9 million in PPP loans. During
the same time, we also originated $142.0 million in
Main Street Lending Program loans. (Main Street
Lending, established by the Federal Reserve, helped
support lending to small- and medium-sized busi-
ne(cid:84)(cid:84)e(cid:84)(cid:1)(cid:85)(cid:73)a(cid:85)(cid:1)(cid:88)e(cid:83)e(cid:1)in(cid:1)(cid:84)(cid:80)(cid:86)n(cid:69)(cid:1)financial(cid:1)c(cid:80)n(cid:69)i(cid:85)i(cid:80)n(cid:1)be(cid:71)(cid:80)(cid:83)e(cid:1)
the pandemic began.) Throughout the two years, we
remained TEXAS STRONG, and the new business we
(cid:83)ecei(cid:87)e(cid:69)(cid:1)c(cid:83)ea(cid:85)e(cid:69)(cid:1)(cid:84)i(cid:72)nifican(cid:85)(cid:1)(cid:78)(cid:80)(cid:78)en(cid:85)(cid:86)(cid:78)(cid:1)(cid:85)(cid:73)a(cid:85)(cid:1)(cid:83)(cid:80)lle(cid:69)(cid:1)
(cid:83)i(cid:72)(cid:73)(cid:85)(cid:1)in(cid:85)(cid:80)(cid:1)(cid:19)(cid:17)(cid:19)(cid:19)(cid:15)(cid:1)(cid:51)e(cid:230)ec(cid:85)in(cid:72)(cid:1)(cid:85)(cid:73)a(cid:85)(cid:1)(cid:78)(cid:80)(cid:78)en(cid:85)(cid:86)(cid:78)(cid:1)(cid:88)a(cid:84)(cid:1)(cid:85)(cid:73)e(cid:1)
number of net new accounts we opened over those
two years. Historically, we would open about 5,000 net
new accounts per year. In 2020, we opened just under
12,000 net new accounts, and in 2021, we opened over
16,000. With the PPP loans and net new accounts came
additional loans and trust accounts.
During 2021, we originated $1.1 billion in secondary
market mortgage loans for more than 3,900 fami-
lies across Texas, and we grew the market value
of trust assets managed to $8.7 billion. Regarding
these accomplishments, I want to say that I could
not be prouder of our team of professional bankers,
who rose to the occasion to make the last two years
so successful.
RECOGNITION
In June 2021, First Financial Bank, N.A. announced
that its FirstAccess checking account had been certi-
fie(cid:69)(cid:1)b(cid:90)(cid:1)(cid:85)(cid:73)e(cid:1)n(cid:80)n(cid:81)(cid:83)(cid:80)fi(cid:85)(cid:1)(cid:36)i(cid:85)ie(cid:84)(cid:1)(cid:71)(cid:80)(cid:83)(cid:1)(cid:39)inancial(cid:1)(cid:38)(cid:78)(cid:81)(cid:80)(cid:88)e(cid:83)-
ment (CFE) Fund for meeting CFE’s Bank On National
Account Standards. The CFE’s mission is to improve
(cid:85)(cid:73)e(cid:1)financial(cid:1)(cid:84)(cid:85)abili(cid:85)(cid:90)(cid:1)(cid:80)(cid:71)(cid:1)l(cid:80)(cid:88)(cid:14)(cid:1)an(cid:69)(cid:1)(cid:78)(cid:80)(cid:69)e(cid:83)a(cid:85)e(cid:14)inc(cid:80)(cid:78)e(cid:1)
households through innovative programs; one such
ini(cid:85)ia(cid:85)i(cid:87)e(cid:1)i(cid:69)en(cid:85)ifie(cid:84)(cid:1)c(cid:83)i(cid:85)ical(cid:1)ban(cid:76)(cid:1)(cid:81)(cid:83)(cid:80)(cid:69)(cid:86)c(cid:85)(cid:1)(cid:71)ea(cid:85)(cid:86)(cid:83)e(cid:84)(cid:1)(cid:85)(cid:73)a(cid:85)(cid:1)
would be helpful to people currently outside the main-
(cid:84)(cid:85)(cid:83)ea(cid:78)(cid:1)ban(cid:76)in(cid:72)(cid:1)(cid:84)(cid:90)(cid:84)(cid:85)e(cid:78)(cid:15)(cid:1)(cid:36)(cid:39)(cid:38)(cid:110)(cid:84)(cid:1)ce(cid:83)(cid:85)ifica(cid:85)i(cid:80)n(cid:1)(cid:83)ec(cid:80)(cid:72)ni(cid:91)e(cid:84)(cid:1)
deposit accounts that ensure low cost and high func-
tionality while promoting consumer safety. We were
(cid:80)ne(cid:1)(cid:80)(cid:71)(cid:1)(cid:85)(cid:73)e(cid:1)fi(cid:83)(cid:84)(cid:85)(cid:1)ban(cid:76)(cid:84)(cid:1)in(cid:1)(cid:53)e(cid:89)a(cid:84)(cid:1)(cid:85)(cid:80)(cid:1)(cid:72)ain(cid:1)(cid:85)(cid:73)i(cid:84)(cid:1)ce(cid:83)(cid:85)ifica(cid:85)i(cid:80)n(cid:15)(cid:1)
In July 2021, Bank Director magazine named First
Nonperforming assets as a percentage of loans and
Financial Bankshares, Inc. the number two top-
foreclosed assets totaled 0.63 percent at December
performing publicly traded U.S. bank in the $5–$50
31, 2021, compared with 0.83 percent at December 31,
billion asset category. The magazine’s annual score-
card ranks all publicly traded banks, grouped into four
a(cid:84)(cid:84)e(cid:85)(cid:14)(cid:84)i(cid:91)e(cid:1)ca(cid:85)e(cid:72)(cid:80)(cid:83)ie(cid:84)(cid:13)(cid:1)ba(cid:84)e(cid:69)(cid:1)(cid:80)n(cid:1)(cid:81)(cid:83)(cid:80)fi(cid:85)abili(cid:85)(cid:90)(cid:13)(cid:1)ca(cid:81)i(cid:85)al(cid:13)(cid:1)
capital adequacy and asset quality. We accepted this
(cid:73)(cid:80)n(cid:80)(cid:83)(cid:1)(cid:88)i(cid:85)(cid:73)(cid:1)(cid:72)(cid:83)ea(cid:85)(cid:1)(cid:73)(cid:86)(cid:78)ili(cid:85)(cid:90)(cid:1)an(cid:69)(cid:1)(cid:88)e(cid:83)e(cid:1)e(cid:89)(cid:85)(cid:83)e(cid:78)el(cid:90)(cid:1)(cid:72)(cid:83)a(cid:85)ifie(cid:69)(cid:1)
to have been the only bank rated among the top seven
in the nation for 13 consecutive years, twice being
ranked number one.
Also, in July, Forbes magazine named First Financial
Bank, N.A. to its fourth annual listing of America’s
Best-In-State Banks. Forbes’s ranking recognizes the
financial(cid:1)in(cid:84)(cid:85)i(cid:85)(cid:86)(cid:85)i(cid:80)n(cid:84)(cid:1)(cid:85)(cid:73)a(cid:85)(cid:1)be(cid:84)(cid:85)(cid:1)(cid:84)e(cid:83)(cid:87)e(cid:1)(cid:85)(cid:73)ei(cid:83)(cid:1)c(cid:86)(cid:84)(cid:85)(cid:80)(cid:78)e(cid:83)(cid:84)(cid:110)(cid:1)
needs in each state.
FINANCIAL RESULTS
Last year marked our 35th consecutive year of increased
earnings. Net income for 2021 grew 12.6 percent to
$227.6 million from $202.0 million in 2020. Contrib-
uting to this increase were fees from the PPP loans
an(cid:69)(cid:1)(cid:84)i(cid:72)nifican(cid:85)(cid:1)(cid:72)(cid:83)(cid:80)(cid:88)(cid:85)(cid:73)(cid:1)in(cid:1)in(cid:85)e(cid:83)e(cid:84)(cid:85)(cid:14)ea(cid:83)nin(cid:72)(cid:1)a(cid:84)(cid:84)e(cid:85)(cid:84)(cid:1)(cid:71)(cid:80)(cid:83)(cid:1)(cid:85)(cid:73)e(cid:1)
year. Diluted earnings per share for 2021 rose to $1.59
from $1.42 in 2020. With the continued low interest
rate environment, our net interest margin, on a tax-
equivalent basis, decreased to 3.40 percent in 2021
from 3.79 percent in 2020. (The net interest margin is
a(cid:1)(cid:76)e(cid:90)(cid:1)(cid:81)(cid:83)(cid:80)fi(cid:85)abili(cid:85)(cid:90)(cid:1)(cid:78)e(cid:85)(cid:83)ic(cid:1)(cid:85)(cid:73)a(cid:85)(cid:1)e(cid:89)(cid:81)(cid:83)e(cid:84)(cid:84)e(cid:84)(cid:1)ne(cid:85)(cid:1)in(cid:85)e(cid:83)e(cid:84)(cid:85)(cid:1)
income on a tax-equivalent basis as a percentage of
average interest-earning assets.) Our net interest margin
was a very respectable result and placed us in the 75th
percentile of our peer group of bank holding companies.
The provision for credit losses, including provisions
for unfunded commitments, was a negative $1.1
million for 2021, down from a positive $19.5 million
for 2020. This large decrease was due primarily to the
improvement of the Texas economy and our credit
quality. We adopted a new accounting standard for
estimating allowances for credit losses on January 1,
2020. (This accounting standard, issued by the Finan-
cial Accounting Standards Board and called Current
Expected Credit Losses (CECL), requires companies
to calculate their bad-debt reserves using forward-
looking information. Before CECL, companies were
permitted to estimate their bad-debt reserves using
historical data.)
(cid:19)(cid:17)(cid:19)(cid:17)(cid:15)(cid:1)(cid:36)la(cid:84)(cid:84)ifie(cid:69)(cid:1)l(cid:80)an(cid:84)(cid:1)(cid:85)(cid:80)(cid:85)ale(cid:69)(cid:1)(cid:5)(cid:18)(cid:23)(cid:18)(cid:15)(cid:19)(cid:1)(cid:78)illi(cid:80)n(cid:1)a(cid:85)(cid:1)(cid:90)ea(cid:83)(cid:14)en(cid:69)(cid:1)
2021 compared with $197.5 million a year earlier.
Noninterest income grew 1.6 percent to $142.2 million
from $139.9 million. The growth was due primarily to
increases in trust income, service charges, interest
on loan recoveries and interchange fees, which were
partially offset by a $10.6 million decline in the gain on
sale of secondary market mortgage loans. Noninterest
expense rose 6.0 percent to $241.7 million from $227.9
million. That increase was due mainly to employee sala-
ries, equipment expense, interchange expense, adver-
tising, public relations, FDIC assessments, operating
losses sustained and software amortization.
We again outperformed our peer group of banks on
(cid:84)e(cid:87)e(cid:83)al(cid:1)(cid:76)e(cid:90)(cid:1)financial(cid:1)(cid:78)e(cid:85)(cid:83)ic(cid:84)(cid:15)(cid:1)(cid:48)(cid:86)(cid:83)(cid:1)(cid:83)e(cid:85)(cid:86)(cid:83)n(cid:1)(cid:80)n(cid:1)a(cid:87)e(cid:83)a(cid:72)e(cid:1)
assets was 1.89 percent compared to 1.34 percent
for our peers. Return on average equity was 13.31
(cid:81)e(cid:83)cen(cid:85)(cid:1)(cid:87)e(cid:83)(cid:84)(cid:86)(cid:84)(cid:1)(cid:80)(cid:86)(cid:83)(cid:1)(cid:81)ee(cid:83)(cid:84)(cid:110)(cid:1)(cid:18)(cid:19)(cid:15)(cid:22)(cid:19)(cid:1)(cid:81)e(cid:83)cen(cid:85)(cid:15)(cid:1)(cid:48)(cid:86)(cid:83)(cid:1)e(cid:71)ficienc(cid:90)(cid:1)
ratio, which expresses expenses as a proportion of
tax-equivalent revenues, was again solid last year at
45.84 percent, as opposed to our peers’ average of
58.34 percent.
Expansion of our balance sheet last year was totally
from organic growth, as we did not make an acquisi-
tion. Consolidated assets at year-end 2021 increased
20.2 percent to $13.1 billion from $10.9 billion at the
en(cid:69)(cid:1)(cid:80)(cid:71)(cid:1)(cid:19)(cid:17)(cid:19)(cid:17)(cid:15)(cid:1)(cid:56)e(cid:1)fini(cid:84)(cid:73)e(cid:69)(cid:1)(cid:19)(cid:17)(cid:19)(cid:18)(cid:1)(cid:88)i(cid:85)(cid:73)(cid:1)(cid:80)(cid:86)(cid:85)(cid:84)(cid:85)an(cid:69)in(cid:72)(cid:1)(cid:80)(cid:87)e(cid:83)all(cid:1)
loan growth (excluding PPP loans) of $648.8 million,
or 13.8 percent, and deposit growth of $1.9 billion, or
21.8 percent.
First Financial Trust & Asset Management again deliv-
ered solid results, which were fueled by a large growth
in trust assets and higher oil and gas prices. Total trust
assets under management at year-end reached a book
value of $5.9 billion, an 8.9 percent increase from $5.4
billion at the end of 2020. The market value of the trust
assets totaled $8.7 billion, up 15.8 percent from $7.5
billion at year-end 2020. Total trust fee income for 2021
grew as well—to $36.1 million from $29.5 million—a
22.4 percent gain. The trust company’s net after-tax
earnings increased 22.5 percent to $17.7 million from
$14.5 million.
A Letter To Our Shareholders | Annual Report 2021 | 4
FFIN2021-AnnualReport-Updated.indd 4-5
A Letter To Our Shareholders | Annual Report 2021 | 5
3/14/2022 2:00:25 PM
A LETTER TO OUR SHAREHOLDERS
Two years ago, at the start of
tions. When these new customers asked us to do their
the pandemic, we decided
PPP loans, we asked them for all their business, and
not to lock our doors but to
in most cases, we got it. Over the last two years, we
come to work instead. We
have originated $970.9 million in PPP loans. During
vowed that we would learn to
the same time, we also originated $142.0 million in
manage through the pandemic
Main Street Lending Program loans. (Main Street
so we would be available to
Lending, established by the Federal Reserve, helped
serve our customers every day.
support lending to small- and medium-sized busi-
Moreover, we would make our
ne(cid:84)(cid:84)e(cid:84)(cid:1)(cid:85)(cid:73)a(cid:85)(cid:1)(cid:88)e(cid:83)e(cid:1)in(cid:1)(cid:84)(cid:80)(cid:86)n(cid:69)(cid:1)financial(cid:1)c(cid:80)n(cid:69)i(cid:85)i(cid:80)n(cid:1)be(cid:71)(cid:80)(cid:83)e(cid:1)
facilities the safest place for our
the pandemic began.) Throughout the two years, we
employees and customers to
remained TEXAS STRONG, and the new business we
work and visit. Little did we
(cid:83)ecei(cid:87)e(cid:69)(cid:1)c(cid:83)ea(cid:85)e(cid:69)(cid:1)(cid:84)i(cid:72)nifican(cid:85)(cid:1)(cid:78)(cid:80)(cid:78)en(cid:85)(cid:86)(cid:78)(cid:1)(cid:85)(cid:73)a(cid:85)(cid:1)(cid:83)(cid:80)lle(cid:69)(cid:1)
know that this decision, along
(cid:83)i(cid:72)(cid:73)(cid:85)(cid:1)in(cid:85)(cid:80)(cid:1)(cid:19)(cid:17)(cid:19)(cid:19)(cid:15)(cid:1)(cid:51)e(cid:230)ec(cid:85)in(cid:72)(cid:1)(cid:85)(cid:73)a(cid:85)(cid:1)(cid:78)(cid:80)(cid:78)en(cid:85)(cid:86)(cid:78)(cid:1)(cid:88)a(cid:84)(cid:1)(cid:85)(cid:73)e(cid:1)
with some prior preparation, would
number of net new accounts we opened over those
set us up to have the largest growth the
two years. Historically, we would open about 5,000 net
company has ever experienced. Over the past
new accounts per year. In 2020, we opened just under
two years, we achieved organic growth of approxi-
12,000 net new accounts, and in 2021, we opened over
mately $4.0 billion—which is similar to buying a $4.0
16,000. With the PPP loans and net new accounts came
billion bank without paying for it or incurring the asso-
additional loans and trust accounts.
ciated transaction costs. Our employees, branches,
systems and capital have absorbed this large growth
without any problems, and we intend to build on the
momentum that this has created for our company.
During 2021, we originated $1.1 billion in secondary
market mortgage loans for more than 3,900 fami-
lies across Texas, and we grew the market value
of trust assets managed to $8.7 billion. Regarding
We were well prepared to meet the challenges of
these accomplishments, I want to say that I could
operating through the pandemic and to serve our
not be prouder of our team of professional bankers,
customers and communities. We had already made
who rose to the occasion to make the last two years
excellent customer service a top priority, with one
so successful.
of our pre-2020 initiatives being the training of our
employees by Horst Schulze, cofounder of The Ritz-
Carlton Hotel Company and renowned legend in the
customer service arena. In addition, since we had
recently updated our company website, we were able
to communicate with our customers at a moment’s
notice, and we were able to put the Payment Protec-
tion Program (PPP) application on our digital loan
(cid:81)la(cid:85)(cid:71)(cid:80)(cid:83)(cid:78)(cid:1)(cid:84)(cid:80)(cid:1)c(cid:86)(cid:84)(cid:85)(cid:80)(cid:78)e(cid:83)(cid:84)(cid:1)c(cid:80)(cid:86)l(cid:69)(cid:1)fill(cid:1)(cid:80)(cid:86)(cid:85)(cid:1)(cid:85)(cid:73)e(cid:1)a(cid:81)(cid:81)lica(cid:85)i(cid:80)n(cid:1)
on their cell phone or computer and immediately send
it to us for processing.
Our employees worked through each night to rapidly
process the PPP loans. We quickly received statewide
recognition for this effort, which brought customers to
us from other banks that couldn’t process their applica-
RECOGNITION
In June 2021, First Financial Bank, N.A. announced
that its FirstAccess checking account had been certi-
fie(cid:69)(cid:1)b(cid:90)(cid:1)(cid:85)(cid:73)e(cid:1)n(cid:80)n(cid:81)(cid:83)(cid:80)fi(cid:85)(cid:1)(cid:36)i(cid:85)ie(cid:84)(cid:1)(cid:71)(cid:80)(cid:83)(cid:1)(cid:39)inancial(cid:1)(cid:38)(cid:78)(cid:81)(cid:80)(cid:88)e(cid:83)-
ment (CFE) Fund for meeting CFE’s Bank On National
Account Standards. The CFE’s mission is to improve
(cid:85)(cid:73)e(cid:1)financial(cid:1)(cid:84)(cid:85)abili(cid:85)(cid:90)(cid:1)(cid:80)(cid:71)(cid:1)l(cid:80)(cid:88)(cid:14)(cid:1)an(cid:69)(cid:1)(cid:78)(cid:80)(cid:69)e(cid:83)a(cid:85)e(cid:14)inc(cid:80)(cid:78)e(cid:1)
households through innovative programs; one such
ini(cid:85)ia(cid:85)i(cid:87)e(cid:1)i(cid:69)en(cid:85)ifie(cid:84)(cid:1)c(cid:83)i(cid:85)ical(cid:1)ban(cid:76)(cid:1)(cid:81)(cid:83)(cid:80)(cid:69)(cid:86)c(cid:85)(cid:1)(cid:71)ea(cid:85)(cid:86)(cid:83)e(cid:84)(cid:1)(cid:85)(cid:73)a(cid:85)(cid:1)
would be helpful to people currently outside the main-
(cid:84)(cid:85)(cid:83)ea(cid:78)(cid:1)ban(cid:76)in(cid:72)(cid:1)(cid:84)(cid:90)(cid:84)(cid:85)e(cid:78)(cid:15)(cid:1)(cid:36)(cid:39)(cid:38)(cid:110)(cid:84)(cid:1)ce(cid:83)(cid:85)ifica(cid:85)i(cid:80)n(cid:1)(cid:83)ec(cid:80)(cid:72)ni(cid:91)e(cid:84)(cid:1)
deposit accounts that ensure low cost and high func-
tionality while promoting consumer safety. We were
(cid:80)ne(cid:1)(cid:80)(cid:71)(cid:1)(cid:85)(cid:73)e(cid:1)fi(cid:83)(cid:84)(cid:85)(cid:1)ban(cid:76)(cid:84)(cid:1)in(cid:1)(cid:53)e(cid:89)a(cid:84)(cid:1)(cid:85)(cid:80)(cid:1)(cid:72)ain(cid:1)(cid:85)(cid:73)i(cid:84)(cid:1)ce(cid:83)(cid:85)ifica(cid:85)i(cid:80)n(cid:15)(cid:1)
In July 2021, Bank Director magazine named First
Financial Bankshares, Inc. the number two top-
performing publicly traded U.S. bank in the $5–$50
billion asset category. The magazine’s annual score-
card ranks all publicly traded banks, grouped into four
a(cid:84)(cid:84)e(cid:85)(cid:14)(cid:84)i(cid:91)e(cid:1)ca(cid:85)e(cid:72)(cid:80)(cid:83)ie(cid:84)(cid:13)(cid:1)ba(cid:84)e(cid:69)(cid:1)(cid:80)n(cid:1)(cid:81)(cid:83)(cid:80)fi(cid:85)abili(cid:85)(cid:90)(cid:13)(cid:1)ca(cid:81)i(cid:85)al(cid:13)(cid:1)
capital adequacy and asset quality. We accepted this
(cid:73)(cid:80)n(cid:80)(cid:83)(cid:1)(cid:88)i(cid:85)(cid:73)(cid:1)(cid:72)(cid:83)ea(cid:85)(cid:1)(cid:73)(cid:86)(cid:78)ili(cid:85)(cid:90)(cid:1)an(cid:69)(cid:1)(cid:88)e(cid:83)e(cid:1)e(cid:89)(cid:85)(cid:83)e(cid:78)el(cid:90)(cid:1)(cid:72)(cid:83)a(cid:85)ifie(cid:69)(cid:1)
to have been the only bank rated among the top seven
in the nation for 13 consecutive years, twice being
ranked number one.
Also, in July, Forbes magazine named First Financial
Bank, N.A. to its fourth annual listing of America’s
Best-In-State Banks. Forbes’s ranking recognizes the
financial(cid:1)in(cid:84)(cid:85)i(cid:85)(cid:86)(cid:85)i(cid:80)n(cid:84)(cid:1)(cid:85)(cid:73)a(cid:85)(cid:1)be(cid:84)(cid:85)(cid:1)(cid:84)e(cid:83)(cid:87)e(cid:1)(cid:85)(cid:73)ei(cid:83)(cid:1)c(cid:86)(cid:84)(cid:85)(cid:80)(cid:78)e(cid:83)(cid:84)(cid:110)(cid:1)
needs in each state.
FINANCIAL RESULTS
Last year marked our 35th consecutive year of increased
earnings. Net income for 2021 grew 12.6 percent to
$227.6 million from $202.0 million in 2020. Contrib-
uting to this increase were fees from the PPP loans
an(cid:69)(cid:1)(cid:84)i(cid:72)nifican(cid:85)(cid:1)(cid:72)(cid:83)(cid:80)(cid:88)(cid:85)(cid:73)(cid:1)in(cid:1)in(cid:85)e(cid:83)e(cid:84)(cid:85)(cid:14)ea(cid:83)nin(cid:72)(cid:1)a(cid:84)(cid:84)e(cid:85)(cid:84)(cid:1)(cid:71)(cid:80)(cid:83)(cid:1)(cid:85)(cid:73)e(cid:1)
year. Diluted earnings per share for 2021 rose to $1.59
from $1.42 in 2020. With the continued low interest
rate environment, our net interest margin, on a tax-
equivalent basis, decreased to 3.40 percent in 2021
from 3.79 percent in 2020. (The net interest margin is
a(cid:1)(cid:76)e(cid:90)(cid:1)(cid:81)(cid:83)(cid:80)fi(cid:85)abili(cid:85)(cid:90)(cid:1)(cid:78)e(cid:85)(cid:83)ic(cid:1)(cid:85)(cid:73)a(cid:85)(cid:1)e(cid:89)(cid:81)(cid:83)e(cid:84)(cid:84)e(cid:84)(cid:1)ne(cid:85)(cid:1)in(cid:85)e(cid:83)e(cid:84)(cid:85)(cid:1)
income on a tax-equivalent basis as a percentage of
average interest-earning assets.) Our net interest margin
was a very respectable result and placed us in the 75th
percentile of our peer group of bank holding companies.
The provision for credit losses, including provisions
for unfunded commitments, was a negative $1.1
million for 2021, down from a positive $19.5 million
for 2020. This large decrease was due primarily to the
improvement of the Texas economy and our credit
quality. We adopted a new accounting standard for
estimating allowances for credit losses on January 1,
2020. (This accounting standard, issued by the Finan-
cial Accounting Standards Board and called Current
Expected Credit Losses (CECL), requires companies
to calculate their bad-debt reserves using forward-
looking information. Before CECL, companies were
permitted to estimate their bad-debt reserves using
historical data.)
Nonperforming assets as a percentage of loans and
foreclosed assets totaled 0.63 percent at December
31, 2021, compared with 0.83 percent at December 31,
(cid:19)(cid:17)(cid:19)(cid:17)(cid:15)(cid:1)(cid:36)la(cid:84)(cid:84)ifie(cid:69)(cid:1)l(cid:80)an(cid:84)(cid:1)(cid:85)(cid:80)(cid:85)ale(cid:69)(cid:1)(cid:5)(cid:18)(cid:23)(cid:18)(cid:15)(cid:19)(cid:1)(cid:78)illi(cid:80)n(cid:1)a(cid:85)(cid:1)(cid:90)ea(cid:83)(cid:14)en(cid:69)(cid:1)
2021 compared with $197.5 million a year earlier.
Noninterest income grew 1.6 percent to $142.2 million
from $139.9 million. The growth was due primarily to
increases in trust income, service charges, interest
on loan recoveries and interchange fees, which were
partially offset by a $10.6 million decline in the gain on
sale of secondary market mortgage loans. Noninterest
expense rose 6.0 percent to $241.7 million from $227.9
million. That increase was due mainly to employee sala-
ries, equipment expense, interchange expense, adver-
tising, public relations, FDIC assessments, operating
losses sustained and software amortization.
We again outperformed our peer group of banks on
(cid:84)e(cid:87)e(cid:83)al(cid:1)(cid:76)e(cid:90)(cid:1)financial(cid:1)(cid:78)e(cid:85)(cid:83)ic(cid:84)(cid:15)(cid:1)(cid:48)(cid:86)(cid:83)(cid:1)(cid:83)e(cid:85)(cid:86)(cid:83)n(cid:1)(cid:80)n(cid:1)a(cid:87)e(cid:83)a(cid:72)e(cid:1)
assets was 1.89 percent compared to 1.34 percent
for our peers. Return on average equity was 13.31
(cid:81)e(cid:83)cen(cid:85)(cid:1)(cid:87)e(cid:83)(cid:84)(cid:86)(cid:84)(cid:1)(cid:80)(cid:86)(cid:83)(cid:1)(cid:81)ee(cid:83)(cid:84)(cid:110)(cid:1)(cid:18)(cid:19)(cid:15)(cid:22)(cid:19)(cid:1)(cid:81)e(cid:83)cen(cid:85)(cid:15)(cid:1)(cid:48)(cid:86)(cid:83)(cid:1)e(cid:71)ficienc(cid:90)(cid:1)
ratio, which expresses expenses as a proportion of
tax-equivalent revenues, was again solid last year at
45.84 percent, as opposed to our peers’ average of
58.34 percent.
Expansion of our balance sheet last year was totally
from organic growth, as we did not make an acquisi-
tion. Consolidated assets at year-end 2021 increased
20.2 percent to $13.1 billion from $10.9 billion at the
en(cid:69)(cid:1)(cid:80)(cid:71)(cid:1)(cid:19)(cid:17)(cid:19)(cid:17)(cid:15)(cid:1)(cid:56)e(cid:1)fini(cid:84)(cid:73)e(cid:69)(cid:1)(cid:19)(cid:17)(cid:19)(cid:18)(cid:1)(cid:88)i(cid:85)(cid:73)(cid:1)(cid:80)(cid:86)(cid:85)(cid:84)(cid:85)an(cid:69)in(cid:72)(cid:1)(cid:80)(cid:87)e(cid:83)all(cid:1)
loan growth (excluding PPP loans) of $648.8 million,
or 13.8 percent, and deposit growth of $1.9 billion, or
21.8 percent.
First Financial Trust & Asset Management again deliv-
ered solid results, which were fueled by a large growth
in trust assets and higher oil and gas prices. Total trust
assets under management at year-end reached a book
value of $5.9 billion, an 8.9 percent increase from $5.4
billion at the end of 2020. The market value of the trust
assets totaled $8.7 billion, up 15.8 percent from $7.5
billion at year-end 2020. Total trust fee income for 2021
grew as well—to $36.1 million from $29.5 million—a
22.4 percent gain. The trust company’s net after-tax
earnings increased 22.5 percent to $17.7 million from
$14.5 million.
A Letter To Our Shareholders | Annual Report 2021 | 4
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A Letter To Our Shareholders | Annual Report 2021 | 5
3/14/2022 2:00:25 PM
REAL ESTATE ACTIVITIES
In February 2021, we held the groundbreaking cere-
mony for a new location in Huntsville to replace the
two buildings we have across the street. A state-
of-the-art, 8,850-square-foot building will house
all of our Huntsville employees to better serve our
customers with the latest in technology. There will
al(cid:84)(cid:80)(cid:1)be(cid:1)a(cid:1)(cid:69)e(cid:81)(cid:80)(cid:84)i(cid:85)(cid:14)(cid:85)a(cid:76)in(cid:72)(cid:1)(cid:34)(cid:53)(cid:46)(cid:1)an(cid:69)(cid:1)fi(cid:87)e(cid:1)(cid:69)(cid:83)i(cid:87)e(cid:14)(cid:85)(cid:73)(cid:83)(cid:80)(cid:86)(cid:72)(cid:73)(cid:1)
lanes with one wider lane designed for large trucks.
Because of nationwide supply chain delays, we are
several months behind and hope to have the building
completed by the third quarter of 2022.
In April 2021, the company moved its Tech-
nology, Training and Customer Care Centers into
a 52,800-square-foot newly remodeled operations
center in south Abilene. This state-of-the-art building
provides the latest in technology, security, safety,
connectability and audio/visual capabilities while
bein(cid:72)(cid:1)(cid:87)e(cid:83)(cid:90)(cid:1)ene(cid:83)(cid:72)(cid:90)(cid:1)e(cid:71)ficien(cid:85)(cid:15)(cid:1)(cid:56)e(cid:1)e(cid:89)(cid:81)ec(cid:85)(cid:1)(cid:85)(cid:73)e(cid:1)ne(cid:88)(cid:1)(cid:71)acili(cid:85)(cid:90)(cid:1)
to meet the needs of our growing company through
the coming years. We are now in the process of
leasing the space that the three centers formerly
occupied in our corporate headquarters at 400 Pine
Street in Abilene. We are very excited that the Abilene
(cid:36)(cid:73)a(cid:78)be(cid:83)(cid:1)(cid:80)(cid:71)(cid:1)(cid:36)(cid:80)(cid:78)(cid:78)e(cid:83)ce(cid:1)(cid:73)a(cid:84)(cid:1)(cid:85)a(cid:76)en(cid:1)(cid:85)(cid:73)e(cid:1)(cid:87)aca(cid:85)e(cid:69)(cid:1)fi(cid:71)(cid:85)(cid:73)(cid:14)
(cid:230)(cid:80)(cid:80)(cid:83)(cid:1)(cid:84)(cid:81)ace(cid:1)(cid:71)(cid:80)(cid:83)(cid:1)i(cid:85)(cid:84)(cid:1)ne(cid:88)(cid:1)(cid:73)(cid:80)(cid:78)e(cid:15)
In June 2021, First Financial Bank’s Bryan/College
Station Region announced that it had acquired prop-
erty at 2445 Harvey Mitchell Parkway South, on the
northwest corner of Harvey Mitchell Parkway and
Earl Rudder Freeway. In November 2021, we started
construction on a 16,000-square-foot, highly energy-
e(cid:71)ficien(cid:85)(cid:1)b(cid:86)il(cid:69)in(cid:72)(cid:1)a(cid:85)(cid:1)(cid:85)(cid:73)a(cid:85)(cid:1)(cid:84)i(cid:85)e(cid:15)(cid:1)(cid:53)(cid:73)i(cid:84)(cid:1)(cid:84)(cid:85)a(cid:85)e(cid:14)(cid:80)(cid:71)(cid:14)(cid:85)(cid:73)e(cid:14)a(cid:83)(cid:85)(cid:1)
(cid:71)acili(cid:85)(cid:90)(cid:1)(cid:88)ill(cid:1)(cid:71)ea(cid:85)(cid:86)(cid:83)e(cid:1)a(cid:1)la(cid:83)(cid:72)e(cid:1)l(cid:80)bb(cid:90)(cid:13)(cid:1)(cid:80)(cid:71)fice(cid:84)(cid:1)(cid:71)(cid:80)(cid:83)(cid:1)(cid:85)(cid:73)e(cid:1)len(cid:69)in(cid:72)(cid:13)(cid:1)
(cid:78)(cid:80)(cid:83)(cid:85)(cid:72)a(cid:72)e(cid:1)an(cid:69)(cid:1)(cid:85)(cid:83)(cid:86)(cid:84)(cid:85)(cid:1)(cid:80)(cid:71)fice(cid:83)(cid:84)(cid:1)an(cid:69)(cid:1)fi(cid:87)e(cid:1)(cid:69)(cid:83)i(cid:87)e(cid:14)(cid:85)(cid:73)(cid:83)(cid:80)(cid:86)(cid:72)(cid:73)(cid:1)
lanes with a wider lane designed for large trucks. The
new location, one of the best spots in Bryan/College
Station, will give our customers easier access to our
people and services. The plan is to move in during
(cid:85)(cid:73)e(cid:1)fi(cid:83)(cid:84)(cid:85)(cid:1)(cid:82)(cid:86)a(cid:83)(cid:85)e(cid:83)(cid:1)(cid:80)(cid:71)(cid:1)(cid:19)(cid:17)(cid:19)(cid:20)(cid:15)(cid:1)(cid:1)
In April 2022, we will begin to expand and remodel
our Trophy Club and Willow Park locations to meet
increased customer counts in both locations. We
expect to complete these two projects in the third
quarter of 2022.
In February 2022, First Financial Bank’s Southeast
Texas Region announced that it had purchased
property in Lumberton and started construction on
a 3,300-square-foot bank building with three motor
banking lanes and an ATM lane. Lumberton has an
excellent school district and is a fast-growing city 10
miles from Beaumont. We look forward to being part
of the city’s growth. We anticipate the completion date
for this project will be the fourth quarter of this year.
(cid:47)(cid:80)(cid:88)(cid:1)(cid:85)(cid:73)a(cid:85)(cid:1)(cid:88)e(cid:1)(cid:73)a(cid:87)e(cid:1)fini(cid:84)(cid:73)e(cid:69)(cid:1)(cid:83)e(cid:85)(cid:83)(cid:80)fi(cid:85)(cid:85)in(cid:72)(cid:1)all(cid:1)(cid:80)(cid:86)(cid:83)(cid:1)l(cid:80)ca-
(cid:85)i(cid:80)n(cid:84)(cid:1)(cid:88)i(cid:85)(cid:73)(cid:1)(cid:45)(cid:38)(cid:37)(cid:1)fi(cid:89)(cid:85)(cid:86)(cid:83)e(cid:84)(cid:1)an(cid:69)(cid:1)(cid:86)(cid:81)(cid:72)(cid:83)a(cid:69)e(cid:69)(cid:1)(cid:78)ec(cid:73)anical(cid:1)
(cid:84)(cid:90)(cid:84)(cid:85)e(cid:78)(cid:84)(cid:13)(cid:1)(cid:88)e(cid:1)a(cid:83)e(cid:1)(cid:84)eein(cid:72)(cid:1)(cid:85)(cid:73)e(cid:1)(cid:71)(cid:83)(cid:86)i(cid:85)(cid:84)(cid:1)(cid:80)(cid:71)(cid:1)(cid:80)(cid:86)(cid:83)(cid:1)ene(cid:83)(cid:72)(cid:90)(cid:14)e(cid:71)fi-
ciency program in the form of reduced electrical costs
and compliance with stricter environmental stan-
dards. All of our new buildings certainly meet these
standards, and although we have a lot of new square
footage, including the 52,800-square-foot operations
center, our energy cost per square foot continues to
come down. We are pleased with the cost savings our
ene(cid:83)(cid:72)(cid:90)(cid:14)e(cid:71)ficienc(cid:90)(cid:1)(cid:81)(cid:83)(cid:80)(cid:72)(cid:83)a(cid:78)(cid:1)i(cid:84)(cid:1)b(cid:83)in(cid:72)in(cid:72)(cid:1)(cid:85)(cid:80)(cid:1)(cid:85)(cid:73)e(cid:1)c(cid:80)(cid:78)(cid:81)an(cid:90)(cid:1)
and the reduction of our carbon footprint.
MANAGEMENT CHANGES
In January 2021, Nora P. Thompson was promoted
to President of First Financial Bank, Bryan/College
Station Region, and in July 2021, she gained the addi-
tional title of CEO following the retirement of Ivan M.
Olson, who was President and CEO of the Region for
12 years. Nora has more than 30 years of experience
in(cid:1)financial(cid:1)(cid:84)e(cid:83)(cid:87)ice(cid:84)(cid:1)an(cid:69)(cid:1)(cid:78)(cid:80)(cid:83)(cid:85)(cid:72)a(cid:72)e(cid:1)len(cid:69)in(cid:72)(cid:15)(cid:1)(cid:49)(cid:83)i(cid:80)(cid:83)(cid:1)(cid:85)(cid:80)(cid:1)(cid:80)(cid:86)(cid:83)(cid:1)
acquisition of TB&T Bancshares, she was a key part
of the leadership team of TB&T, where she served as
Executive Vice President and Senior Lender. She is
a graduate of the Southwestern Graduate School of
Banking at the Cox School of Business at Southern
Methodist University (SMU) and is the fourth female
to be promoted to regional president in our company.
In February 2021, Robert C. Nickles was appointed
Chairman of the Board of the Kingwood Region. Bob
has served on the Kingwood Region’s Board of Direc-
tors since 2010 and on First Financial Bankshares’
Board of Directors since 2019. He is a graduate of
Oklahoma State University and is Founder and Execu-
tive Chairman for Alegacy Group, LLC, the second-
largest gas compressor packager in the world.
In July 2021, Chris Cook was elected Executive Vice
President of Marketing at First Financial Bank. Chris
spent 22 years at Texas Tech University, first as
Associate Athletics Director for Communications for
and will partner with Treasury Management to grow
(cid:18)(cid:18)(cid:1)(cid:90)ea(cid:83)(cid:84)(cid:13)(cid:1)an(cid:69)(cid:1)(cid:85)(cid:73)en(cid:1)a(cid:84)(cid:1)(cid:52)eni(cid:80)(cid:83)(cid:1)(cid:37)i(cid:83)ec(cid:85)(cid:80)(cid:83)(cid:1)in(cid:1)(cid:85)(cid:73)e(cid:1)(cid:48)(cid:71)fice(cid:1)
deposits and fee-based services. David has been
(cid:80)(cid:71)(cid:1)(cid:36)(cid:80)(cid:78)(cid:78)(cid:86)nica(cid:85)i(cid:80)n(cid:84)(cid:1)an(cid:69)(cid:1)(cid:46)a(cid:83)(cid:76)e(cid:85)in(cid:72)(cid:1)in(cid:1)(cid:85)(cid:73)e(cid:1)(cid:48)(cid:71)fice(cid:1)(cid:80)(cid:71)(cid:1)
with First Financial Bank for 18 years, starting his
the President. He has over 30 years of experience in
career as a teller while attending college in Abilene.
public and media relations, with marked success in
Following graduation, he joined the bank’s credit
cultivating and developing media relationships and
anal(cid:90)(cid:84)(cid:85)(cid:1)(cid:81)(cid:83)(cid:80)(cid:72)(cid:83)a(cid:78)(cid:13)(cid:1)a(cid:69)(cid:87)ance(cid:69)(cid:1)(cid:85)(cid:80)(cid:1)(cid:84)e(cid:87)e(cid:83)al(cid:1)(cid:80)(cid:71)fice(cid:83)(cid:1)(cid:83)(cid:80)le(cid:84)(cid:13)(cid:1)
securing regional and national media placements. He
and served as President of the Eastland Division
holds a bachelor of arts degree in journalism from
within the First Financial Bank Abilene Region, before
Louisiana Tech University and a master of arts degree
being named a senior lender for the Abilene Region.
in mass communication from Texas Tech.
He is cochairman of the company’s Customer Service
In August 2021, the Board of Directors of First Finan-
cial Bank, N.A. announced the election of Maggie M.
Tuschinski as Executive Vice President, Chief Digital
(cid:48)(cid:71)fice(cid:83)(cid:15)(cid:1)(cid:52)(cid:73)e(cid:1)(cid:73)a(cid:84)(cid:1)an(cid:1)e(cid:89)(cid:85)en(cid:84)i(cid:87)e(cid:1)bac(cid:76)(cid:72)(cid:83)(cid:80)(cid:86)n(cid:69)(cid:1)in(cid:1)(cid:81)(cid:83)(cid:80)(cid:69)(cid:86)c(cid:85)(cid:1)
First program, which oversees the company’s mission
of delivering excellence in customer service. He is
a graduate of McMurry University and the South-
western Graduate School of Banking.
development and user experience and is the liaison
In January 2022, the Board of First Financial Bank Fort
with each line of business to promote a consistent
Worth Region elected Vianei Lopez Braun as Chair of
experience for our customers across all digital chan-
the Board. Vianei has been an advocate for First Finan-
nels. She comes to First Financial Bank with 20 years
cial(cid:1)(cid:35)an(cid:76)(cid:1)(cid:84)ince(cid:1)(cid:88)e(cid:1)finance(cid:69)(cid:1)(cid:73)e(cid:83)(cid:1)la(cid:88)(cid:1)(cid:81)(cid:83)ac(cid:85)ice(cid:1)in(cid:1)(cid:18)(cid:26)(cid:26)(cid:25)(cid:13)(cid:1)
(cid:80)(cid:71)(cid:1)e(cid:89)(cid:81)e(cid:83)ience(cid:1)(cid:88)(cid:80)(cid:83)(cid:76)in(cid:72)(cid:1)in(cid:1)financial(cid:1)(cid:84)e(cid:83)(cid:87)ice(cid:84)(cid:13)(cid:1)incl(cid:86)(cid:69)in(cid:72)(cid:1)
and she has served as our employment attorney for 24
10 years with Fortune 500 company USAA and, most
years. She leads the labor and employment section for
recently, four years with Frost Bank, serving as Senior
(cid:37)ec(cid:76)e(cid:83)(cid:1)(cid:43)(cid:80)ne(cid:84)(cid:13)(cid:1)(cid:49)(cid:15)(cid:36)(cid:15)(cid:13)(cid:1)a(cid:1)(cid:71)(cid:86)ll(cid:14)(cid:84)e(cid:83)(cid:87)ice(cid:1)la(cid:88)(cid:1)fi(cid:83)(cid:78)(cid:1)ba(cid:84)e(cid:69)(cid:1)in(cid:1)(cid:39)(cid:80)(cid:83)(cid:85)(cid:1)
Vice President and Director of Digital Services. She
(cid:56)(cid:80)(cid:83)(cid:85)(cid:73)(cid:13)(cid:1)an(cid:69)(cid:1)(cid:84)e(cid:83)(cid:87)e(cid:84)(cid:1)a(cid:84)(cid:1)(cid:85)(cid:73)e(cid:1)c(cid:73)ie(cid:71)(cid:1)(cid:69)e(cid:87)el(cid:80)(cid:81)(cid:78)en(cid:85)(cid:1)(cid:80)(cid:71)fice(cid:83)(cid:1)(cid:71)(cid:80)(cid:83)(cid:1)
holds a bachelor of arts degree in business administra-
(cid:85)(cid:73)e(cid:1)fi(cid:83)(cid:78)(cid:15)(cid:1)(cid:52)(cid:73)e(cid:1)(cid:73)a(cid:84)(cid:1)been(cid:1)(cid:81)(cid:83)ac(cid:85)icin(cid:72)(cid:1)e(cid:78)(cid:81)l(cid:80)(cid:90)(cid:78)en(cid:85)(cid:1)la(cid:88)(cid:1)(cid:71)(cid:80)(cid:83)(cid:1)
tion from the University of Texas at San Antonio and
30 years with previous tenure in Houston and Abilene.
a master of business administration degree from the
She is an honors graduate of Princeton University and
University of Phoenix.
earned her law degree from the University of Texas
In October 2021, Chris Baughman was promoted to
School of Law.
President of the First Financial Bank Conroe Region
Also, in January 2022, the Board of Directors of First
to succeed Sam Baker, who retired in March 2022
Financial Bankshares, Inc. announced the promotion
and will remain as chairman of the board. Chris has
of Luke Longhofer to Executive Vice President, Chief
worked for the Conroe Region for the past 12 years as
(cid:45)en(cid:69)in(cid:72)(cid:1)(cid:48)(cid:71)fice(cid:83)(cid:13)(cid:1)(cid:86)(cid:81)(cid:80)n(cid:1)(cid:40)a(cid:83)(cid:90)(cid:1)(cid:40)(cid:83)a(cid:72)(cid:72)(cid:110)(cid:84)(cid:1)(cid:83)e(cid:85)i(cid:83)e(cid:78)en(cid:85)(cid:1)a(cid:71)(cid:85)e(cid:83)(cid:1)(cid:20)(cid:17)(cid:1)
Executive Vice President and is the largest producer
(cid:90)ea(cid:83)(cid:84)(cid:13)(cid:1)incl(cid:86)(cid:69)in(cid:72)(cid:1)(cid:85)(cid:73)e(cid:1)la(cid:84)(cid:85)(cid:1)(cid:18)(cid:23)(cid:1)a(cid:84)(cid:1)(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:45)en(cid:69)in(cid:72)(cid:1)(cid:48)(cid:71)fice(cid:83)(cid:15)(cid:1)
of loans in the Region. He has been in the industry for
(cid:34)(cid:84)(cid:1)(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:36)(cid:83)e(cid:69)i(cid:85)(cid:1)(cid:48)(cid:71)fice(cid:83)(cid:13)(cid:1)(cid:45)(cid:86)(cid:76)e(cid:1)(cid:73)a(cid:69)(cid:1)(cid:88)(cid:80)(cid:83)(cid:76)e(cid:69)(cid:1)in(cid:1)(cid:85)an(cid:69)e(cid:78)(cid:1)
39 years, having previously worked at Amegy Bank,
with Gary for the past 11 years. Luke has played an
First National Bank Texas and American Bank Conroe.
integral role in the credit oversight of bank acquisi-
Chris also was an examiner for the Texas Department
tions, most recently that of TB&T Bancshares in 2020.
of Banking. He is a graduate of Stephen F. Austin State
He also oversaw the execution of the PPP and Main
University with a bachelor of business administration
Street Lending Programs and was instrumental in
degree, and he is also a graduate of the University of
implementing our adoption of the CECL accounting
Colorado Graduate School of Banking in Boulder.
standard. Before joining First Financial Bank in October
In November 2021, First Financial Bankshares, Inc.
promoted David Bailey to Executive Vice President
for Commercial Banking, a newly created position
within the Company. In the new role, David will lead
the commercial banking line of business, working
with each region to grow First Financial’s commercial
loan portfolio. He also will assist each regional presi-
dent in business development and talent management
2010, Luke served as a Commissioned Bank Examiner
for the Federal Deposit Insurance Corporation for more
than seven years. He was promoted to Senior Vice
President of Loan Review at First Financial Bankshares
in 2012, Executive Vice President of Lending in 2015
an(cid:69)(cid:1)(cid:38)(cid:89)ec(cid:86)(cid:85)i(cid:87)e(cid:1)(cid:55)ice(cid:1)(cid:49)(cid:83)e(cid:84)i(cid:69)en(cid:85)(cid:13)(cid:1)(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:36)(cid:83)e(cid:69)i(cid:85)(cid:1)(cid:48)(cid:71)fice(cid:83)(cid:1)in(cid:1)
(cid:19)(cid:17)(cid:18)(cid:25)(cid:15)(cid:1)(cid:41)e(cid:1)(cid:73)(cid:80)l(cid:69)(cid:84)(cid:1)a(cid:1)bac(cid:73)el(cid:80)(cid:83)(cid:1)(cid:80)(cid:71)(cid:1)finance(cid:1)(cid:69)e(cid:72)(cid:83)ee(cid:1)(cid:71)(cid:83)(cid:80)(cid:78)(cid:1)
West Texas A&M University and was valedictorian of
A Letter To Our Shareholders | Annual Report 2021 | 6
FFIN2021-AnnualReport-Updated.indd 6-7
A Letter To Our Shareholders | Annual Report 2021 | 7
3/14/2022 2:00:26 PM
REAL ESTATE ACTIVITIES
In February 2021, we held the groundbreaking cere-
mony for a new location in Huntsville to replace the
two buildings we have across the street. A state-
of-the-art, 8,850-square-foot building will house
all of our Huntsville employees to better serve our
customers with the latest in technology. There will
al(cid:84)(cid:80)(cid:1)be(cid:1)a(cid:1)(cid:69)e(cid:81)(cid:80)(cid:84)i(cid:85)(cid:14)(cid:85)a(cid:76)in(cid:72)(cid:1)(cid:34)(cid:53)(cid:46)(cid:1)an(cid:69)(cid:1)fi(cid:87)e(cid:1)(cid:69)(cid:83)i(cid:87)e(cid:14)(cid:85)(cid:73)(cid:83)(cid:80)(cid:86)(cid:72)(cid:73)(cid:1)
lanes with one wider lane designed for large trucks.
Because of nationwide supply chain delays, we are
several months behind and hope to have the building
completed by the third quarter of 2022.
In April 2021, the company moved its Tech-
nology, Training and Customer Care Centers into
a 52,800-square-foot newly remodeled operations
center in south Abilene. This state-of-the-art building
provides the latest in technology, security, safety,
connectability and audio/visual capabilities while
bein(cid:72)(cid:1)(cid:87)e(cid:83)(cid:90)(cid:1)ene(cid:83)(cid:72)(cid:90)(cid:1)e(cid:71)ficien(cid:85)(cid:15)(cid:1)(cid:56)e(cid:1)e(cid:89)(cid:81)ec(cid:85)(cid:1)(cid:85)(cid:73)e(cid:1)ne(cid:88)(cid:1)(cid:71)acili(cid:85)(cid:90)(cid:1)
to meet the needs of our growing company through
the coming years. We are now in the process of
leasing the space that the three centers formerly
occupied in our corporate headquarters at 400 Pine
Street in Abilene. We are very excited that the Abilene
(cid:36)(cid:73)a(cid:78)be(cid:83)(cid:1)(cid:80)(cid:71)(cid:1)(cid:36)(cid:80)(cid:78)(cid:78)e(cid:83)ce(cid:1)(cid:73)a(cid:84)(cid:1)(cid:85)a(cid:76)en(cid:1)(cid:85)(cid:73)e(cid:1)(cid:87)aca(cid:85)e(cid:69)(cid:1)fi(cid:71)(cid:85)(cid:73)(cid:14)
(cid:230)(cid:80)(cid:80)(cid:83)(cid:1)(cid:84)(cid:81)ace(cid:1)(cid:71)(cid:80)(cid:83)(cid:1)i(cid:85)(cid:84)(cid:1)ne(cid:88)(cid:1)(cid:73)(cid:80)(cid:78)e(cid:15)
In June 2021, First Financial Bank’s Bryan/College
Station Region announced that it had acquired prop-
erty at 2445 Harvey Mitchell Parkway South, on the
northwest corner of Harvey Mitchell Parkway and
Earl Rudder Freeway. In November 2021, we started
construction on a 16,000-square-foot, highly energy-
e(cid:71)ficien(cid:85)(cid:1)b(cid:86)il(cid:69)in(cid:72)(cid:1)a(cid:85)(cid:1)(cid:85)(cid:73)a(cid:85)(cid:1)(cid:84)i(cid:85)e(cid:15)(cid:1)(cid:53)(cid:73)i(cid:84)(cid:1)(cid:84)(cid:85)a(cid:85)e(cid:14)(cid:80)(cid:71)(cid:14)(cid:85)(cid:73)e(cid:14)a(cid:83)(cid:85)(cid:1)
(cid:71)acili(cid:85)(cid:90)(cid:1)(cid:88)ill(cid:1)(cid:71)ea(cid:85)(cid:86)(cid:83)e(cid:1)a(cid:1)la(cid:83)(cid:72)e(cid:1)l(cid:80)bb(cid:90)(cid:13)(cid:1)(cid:80)(cid:71)fice(cid:84)(cid:1)(cid:71)(cid:80)(cid:83)(cid:1)(cid:85)(cid:73)e(cid:1)len(cid:69)in(cid:72)(cid:13)(cid:1)
(cid:78)(cid:80)(cid:83)(cid:85)(cid:72)a(cid:72)e(cid:1)an(cid:69)(cid:1)(cid:85)(cid:83)(cid:86)(cid:84)(cid:85)(cid:1)(cid:80)(cid:71)fice(cid:83)(cid:84)(cid:1)an(cid:69)(cid:1)fi(cid:87)e(cid:1)(cid:69)(cid:83)i(cid:87)e(cid:14)(cid:85)(cid:73)(cid:83)(cid:80)(cid:86)(cid:72)(cid:73)(cid:1)
lanes with a wider lane designed for large trucks. The
new location, one of the best spots in Bryan/College
Station, will give our customers easier access to our
people and services. The plan is to move in during
(cid:85)(cid:73)e(cid:1)fi(cid:83)(cid:84)(cid:85)(cid:1)(cid:82)(cid:86)a(cid:83)(cid:85)e(cid:83)(cid:1)(cid:80)(cid:71)(cid:1)(cid:19)(cid:17)(cid:19)(cid:20)(cid:15)(cid:1)(cid:1)
In April 2022, we will begin to expand and remodel
our Trophy Club and Willow Park locations to meet
increased customer counts in both locations. We
expect to complete these two projects in the third
quarter of 2022.
In February 2022, First Financial Bank’s Southeast
Texas Region announced that it had purchased
property in Lumberton and started construction on
a 3,300-square-foot bank building with three motor
banking lanes and an ATM lane. Lumberton has an
excellent school district and is a fast-growing city 10
miles from Beaumont. We look forward to being part
of the city’s growth. We anticipate the completion date
for this project will be the fourth quarter of this year.
(cid:47)(cid:80)(cid:88)(cid:1)(cid:85)(cid:73)a(cid:85)(cid:1)(cid:88)e(cid:1)(cid:73)a(cid:87)e(cid:1)fini(cid:84)(cid:73)e(cid:69)(cid:1)(cid:83)e(cid:85)(cid:83)(cid:80)fi(cid:85)(cid:85)in(cid:72)(cid:1)all(cid:1)(cid:80)(cid:86)(cid:83)(cid:1)l(cid:80)ca-
(cid:85)i(cid:80)n(cid:84)(cid:1)(cid:88)i(cid:85)(cid:73)(cid:1)(cid:45)(cid:38)(cid:37)(cid:1)fi(cid:89)(cid:85)(cid:86)(cid:83)e(cid:84)(cid:1)an(cid:69)(cid:1)(cid:86)(cid:81)(cid:72)(cid:83)a(cid:69)e(cid:69)(cid:1)(cid:78)ec(cid:73)anical(cid:1)
(cid:84)(cid:90)(cid:84)(cid:85)e(cid:78)(cid:84)(cid:13)(cid:1)(cid:88)e(cid:1)a(cid:83)e(cid:1)(cid:84)eein(cid:72)(cid:1)(cid:85)(cid:73)e(cid:1)(cid:71)(cid:83)(cid:86)i(cid:85)(cid:84)(cid:1)(cid:80)(cid:71)(cid:1)(cid:80)(cid:86)(cid:83)(cid:1)ene(cid:83)(cid:72)(cid:90)(cid:14)e(cid:71)fi-
ciency program in the form of reduced electrical costs
and compliance with stricter environmental stan-
dards. All of our new buildings certainly meet these
standards, and although we have a lot of new square
footage, including the 52,800-square-foot operations
center, our energy cost per square foot continues to
come down. We are pleased with the cost savings our
ene(cid:83)(cid:72)(cid:90)(cid:14)e(cid:71)ficienc(cid:90)(cid:1)(cid:81)(cid:83)(cid:80)(cid:72)(cid:83)a(cid:78)(cid:1)i(cid:84)(cid:1)b(cid:83)in(cid:72)in(cid:72)(cid:1)(cid:85)(cid:80)(cid:1)(cid:85)(cid:73)e(cid:1)c(cid:80)(cid:78)(cid:81)an(cid:90)(cid:1)
and the reduction of our carbon footprint.
MANAGEMENT CHANGES
In January 2021, Nora P. Thompson was promoted
to President of First Financial Bank, Bryan/College
Station Region, and in July 2021, she gained the addi-
tional title of CEO following the retirement of Ivan M.
Olson, who was President and CEO of the Region for
12 years. Nora has more than 30 years of experience
in(cid:1)financial(cid:1)(cid:84)e(cid:83)(cid:87)ice(cid:84)(cid:1)an(cid:69)(cid:1)(cid:78)(cid:80)(cid:83)(cid:85)(cid:72)a(cid:72)e(cid:1)len(cid:69)in(cid:72)(cid:15)(cid:1)(cid:49)(cid:83)i(cid:80)(cid:83)(cid:1)(cid:85)(cid:80)(cid:1)(cid:80)(cid:86)(cid:83)(cid:1)
acquisition of TB&T Bancshares, she was a key part
of the leadership team of TB&T, where she served as
Executive Vice President and Senior Lender. She is
a graduate of the Southwestern Graduate School of
Banking at the Cox School of Business at Southern
Methodist University (SMU) and is the fourth female
to be promoted to regional president in our company.
In February 2021, Robert C. Nickles was appointed
Chairman of the Board of the Kingwood Region. Bob
has served on the Kingwood Region’s Board of Direc-
tors since 2010 and on First Financial Bankshares’
Board of Directors since 2019. He is a graduate of
Oklahoma State University and is Founder and Execu-
tive Chairman for Alegacy Group, LLC, the second-
largest gas compressor packager in the world.
In July 2021, Chris Cook was elected Executive Vice
President of Marketing at First Financial Bank. Chris
spent 22 years at Texas Tech University, first as
Associate Athletics Director for Communications for
(cid:18)(cid:18)(cid:1)(cid:90)ea(cid:83)(cid:84)(cid:13)(cid:1)an(cid:69)(cid:1)(cid:85)(cid:73)en(cid:1)a(cid:84)(cid:1)(cid:52)eni(cid:80)(cid:83)(cid:1)(cid:37)i(cid:83)ec(cid:85)(cid:80)(cid:83)(cid:1)in(cid:1)(cid:85)(cid:73)e(cid:1)(cid:48)(cid:71)fice(cid:1)
(cid:80)(cid:71)(cid:1)(cid:36)(cid:80)(cid:78)(cid:78)(cid:86)nica(cid:85)i(cid:80)n(cid:84)(cid:1)an(cid:69)(cid:1)(cid:46)a(cid:83)(cid:76)e(cid:85)in(cid:72)(cid:1)in(cid:1)(cid:85)(cid:73)e(cid:1)(cid:48)(cid:71)fice(cid:1)(cid:80)(cid:71)(cid:1)
the President. He has over 30 years of experience in
public and media relations, with marked success in
cultivating and developing media relationships and
securing regional and national media placements. He
holds a bachelor of arts degree in journalism from
Louisiana Tech University and a master of arts degree
in mass communication from Texas Tech.
In August 2021, the Board of Directors of First Finan-
cial Bank, N.A. announced the election of Maggie M.
Tuschinski as Executive Vice President, Chief Digital
(cid:48)(cid:71)fice(cid:83)(cid:15)(cid:1)(cid:52)(cid:73)e(cid:1)(cid:73)a(cid:84)(cid:1)an(cid:1)e(cid:89)(cid:85)en(cid:84)i(cid:87)e(cid:1)bac(cid:76)(cid:72)(cid:83)(cid:80)(cid:86)n(cid:69)(cid:1)in(cid:1)(cid:81)(cid:83)(cid:80)(cid:69)(cid:86)c(cid:85)(cid:1)
development and user experience and is the liaison
with each line of business to promote a consistent
experience for our customers across all digital chan-
nels. She comes to First Financial Bank with 20 years
(cid:80)(cid:71)(cid:1)e(cid:89)(cid:81)e(cid:83)ience(cid:1)(cid:88)(cid:80)(cid:83)(cid:76)in(cid:72)(cid:1)in(cid:1)financial(cid:1)(cid:84)e(cid:83)(cid:87)ice(cid:84)(cid:13)(cid:1)incl(cid:86)(cid:69)in(cid:72)(cid:1)
10 years with Fortune 500 company USAA and, most
recently, four years with Frost Bank, serving as Senior
Vice President and Director of Digital Services. She
holds a bachelor of arts degree in business administra-
tion from the University of Texas at San Antonio and
a master of business administration degree from the
University of Phoenix.
In October 2021, Chris Baughman was promoted to
President of the First Financial Bank Conroe Region
to succeed Sam Baker, who retired in March 2022
and will remain as chairman of the board. Chris has
worked for the Conroe Region for the past 12 years as
Executive Vice President and is the largest producer
of loans in the Region. He has been in the industry for
39 years, having previously worked at Amegy Bank,
First National Bank Texas and American Bank Conroe.
Chris also was an examiner for the Texas Department
of Banking. He is a graduate of Stephen F. Austin State
University with a bachelor of business administration
degree, and he is also a graduate of the University of
Colorado Graduate School of Banking in Boulder.
In November 2021, First Financial Bankshares, Inc.
promoted David Bailey to Executive Vice President
for Commercial Banking, a newly created position
within the Company. In the new role, David will lead
the commercial banking line of business, working
with each region to grow First Financial’s commercial
loan portfolio. He also will assist each regional presi-
dent in business development and talent management
and will partner with Treasury Management to grow
deposits and fee-based services. David has been
with First Financial Bank for 18 years, starting his
career as a teller while attending college in Abilene.
Following graduation, he joined the bank’s credit
anal(cid:90)(cid:84)(cid:85)(cid:1)(cid:81)(cid:83)(cid:80)(cid:72)(cid:83)a(cid:78)(cid:13)(cid:1)a(cid:69)(cid:87)ance(cid:69)(cid:1)(cid:85)(cid:80)(cid:1)(cid:84)e(cid:87)e(cid:83)al(cid:1)(cid:80)(cid:71)fice(cid:83)(cid:1)(cid:83)(cid:80)le(cid:84)(cid:13)(cid:1)
and served as President of the Eastland Division
within the First Financial Bank Abilene Region, before
being named a senior lender for the Abilene Region.
He is cochairman of the company’s Customer Service
First program, which oversees the company’s mission
of delivering excellence in customer service. He is
a graduate of McMurry University and the South-
western Graduate School of Banking.
In January 2022, the Board of First Financial Bank Fort
Worth Region elected Vianei Lopez Braun as Chair of
the Board. Vianei has been an advocate for First Finan-
cial(cid:1)(cid:35)an(cid:76)(cid:1)(cid:84)ince(cid:1)(cid:88)e(cid:1)finance(cid:69)(cid:1)(cid:73)e(cid:83)(cid:1)la(cid:88)(cid:1)(cid:81)(cid:83)ac(cid:85)ice(cid:1)in(cid:1)(cid:18)(cid:26)(cid:26)(cid:25)(cid:13)(cid:1)
and she has served as our employment attorney for 24
years. She leads the labor and employment section for
(cid:37)ec(cid:76)e(cid:83)(cid:1)(cid:43)(cid:80)ne(cid:84)(cid:13)(cid:1)(cid:49)(cid:15)(cid:36)(cid:15)(cid:13)(cid:1)a(cid:1)(cid:71)(cid:86)ll(cid:14)(cid:84)e(cid:83)(cid:87)ice(cid:1)la(cid:88)(cid:1)fi(cid:83)(cid:78)(cid:1)ba(cid:84)e(cid:69)(cid:1)in(cid:1)(cid:39)(cid:80)(cid:83)(cid:85)(cid:1)
(cid:56)(cid:80)(cid:83)(cid:85)(cid:73)(cid:13)(cid:1)an(cid:69)(cid:1)(cid:84)e(cid:83)(cid:87)e(cid:84)(cid:1)a(cid:84)(cid:1)(cid:85)(cid:73)e(cid:1)c(cid:73)ie(cid:71)(cid:1)(cid:69)e(cid:87)el(cid:80)(cid:81)(cid:78)en(cid:85)(cid:1)(cid:80)(cid:71)fice(cid:83)(cid:1)(cid:71)(cid:80)(cid:83)(cid:1)
(cid:85)(cid:73)e(cid:1)fi(cid:83)(cid:78)(cid:15)(cid:1)(cid:52)(cid:73)e(cid:1)(cid:73)a(cid:84)(cid:1)been(cid:1)(cid:81)(cid:83)ac(cid:85)icin(cid:72)(cid:1)e(cid:78)(cid:81)l(cid:80)(cid:90)(cid:78)en(cid:85)(cid:1)la(cid:88)(cid:1)(cid:71)(cid:80)(cid:83)(cid:1)
30 years with previous tenure in Houston and Abilene.
She is an honors graduate of Princeton University and
earned her law degree from the University of Texas
School of Law.
Also, in January 2022, the Board of Directors of First
Financial Bankshares, Inc. announced the promotion
of Luke Longhofer to Executive Vice President, Chief
(cid:45)en(cid:69)in(cid:72)(cid:1)(cid:48)(cid:71)fice(cid:83)(cid:13)(cid:1)(cid:86)(cid:81)(cid:80)n(cid:1)(cid:40)a(cid:83)(cid:90)(cid:1)(cid:40)(cid:83)a(cid:72)(cid:72)(cid:110)(cid:84)(cid:1)(cid:83)e(cid:85)i(cid:83)e(cid:78)en(cid:85)(cid:1)a(cid:71)(cid:85)e(cid:83)(cid:1)(cid:20)(cid:17)(cid:1)
(cid:90)ea(cid:83)(cid:84)(cid:13)(cid:1)incl(cid:86)(cid:69)in(cid:72)(cid:1)(cid:85)(cid:73)e(cid:1)la(cid:84)(cid:85)(cid:1)(cid:18)(cid:23)(cid:1)a(cid:84)(cid:1)(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:45)en(cid:69)in(cid:72)(cid:1)(cid:48)(cid:71)fice(cid:83)(cid:15)(cid:1)
(cid:34)(cid:84)(cid:1)(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:36)(cid:83)e(cid:69)i(cid:85)(cid:1)(cid:48)(cid:71)fice(cid:83)(cid:13)(cid:1)(cid:45)(cid:86)(cid:76)e(cid:1)(cid:73)a(cid:69)(cid:1)(cid:88)(cid:80)(cid:83)(cid:76)e(cid:69)(cid:1)in(cid:1)(cid:85)an(cid:69)e(cid:78)(cid:1)
with Gary for the past 11 years. Luke has played an
integral role in the credit oversight of bank acquisi-
tions, most recently that of TB&T Bancshares in 2020.
He also oversaw the execution of the PPP and Main
Street Lending Programs and was instrumental in
implementing our adoption of the CECL accounting
standard. Before joining First Financial Bank in October
2010, Luke served as a Commissioned Bank Examiner
for the Federal Deposit Insurance Corporation for more
than seven years. He was promoted to Senior Vice
President of Loan Review at First Financial Bankshares
in 2012, Executive Vice President of Lending in 2015
an(cid:69)(cid:1)(cid:38)(cid:89)ec(cid:86)(cid:85)i(cid:87)e(cid:1)(cid:55)ice(cid:1)(cid:49)(cid:83)e(cid:84)i(cid:69)en(cid:85)(cid:13)(cid:1)(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:36)(cid:83)e(cid:69)i(cid:85)(cid:1)(cid:48)(cid:71)fice(cid:83)(cid:1)in(cid:1)
(cid:19)(cid:17)(cid:18)(cid:25)(cid:15)(cid:1)(cid:41)e(cid:1)(cid:73)(cid:80)l(cid:69)(cid:84)(cid:1)a(cid:1)bac(cid:73)el(cid:80)(cid:83)(cid:1)(cid:80)(cid:71)(cid:1)finance(cid:1)(cid:69)e(cid:72)(cid:83)ee(cid:1)(cid:71)(cid:83)(cid:80)(cid:78)(cid:1)
West Texas A&M University and was valedictorian of
A Letter To Our Shareholders | Annual Report 2021 | 6
FFIN2021-AnnualReport-Updated.indd 6-7
A Letter To Our Shareholders | Annual Report 2021 | 7
3/14/2022 2:00:26 PM
MANAGEMENT CHANGES (CONTINUED)
SMU’s Southwestern Graduate School of Bank-
ing’s 2011 class.
In addition, at its January 2022 meeting, the Board of
Directors of First Financial Bankshares announced
the promotion of J. Kyle McVey to Executive Vice
(cid:49)(cid:83)e(cid:84)i(cid:69)en(cid:85)(cid:13)(cid:1)(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:34)cc(cid:80)(cid:86)n(cid:85)in(cid:72)(cid:1)(cid:48)(cid:71)fice(cid:83)(cid:15)(cid:1)(cid:44)(cid:90)le(cid:1)(cid:75)(cid:80)ine(cid:69)(cid:1)(cid:39)i(cid:83)(cid:84)(cid:85)(cid:1)
Financial Bankshares in 2011 following two years
with KPMG US LLP in Jacksonville, Florida. His
(cid:83)e(cid:84)(cid:81)(cid:80)n(cid:84)ibili(cid:85)ie(cid:84)(cid:1)incl(cid:86)(cid:69)e(cid:1)financial(cid:1)(cid:83)e(cid:81)(cid:80)(cid:83)(cid:85)in(cid:72)(cid:13)(cid:1)ac(cid:82)(cid:86)i-
sition strategy and analysis, internal and external
audit coordination and investor relations. He is
cochairman of the company’s Customer Service
First program, which oversees the company’s
mission of delivering excellence in customer service.
Kyle holds bachelor’s degrees in accounting and
finance(cid:1)an(cid:69)(cid:1)a(cid:1)(cid:78)a(cid:84)(cid:85)e(cid:83)(cid:110)(cid:84)(cid:1)in(cid:1)acc(cid:80)(cid:86)n(cid:85)in(cid:72)(cid:1)(cid:71)(cid:83)(cid:80)(cid:78)(cid:1)(cid:34)bilene(cid:1)
Christian University. He is a licensed CPA and a
graduate of SMU’s Southwestern Graduate School
of Banking, where he was valedictorian of his class.
In February 2022, the Board of First Financial Bank’s
Southlake Region elected Shelby Bruhn as Presi-
dent and CEO of the Region, succeeding Mark
Jones, who will continue to be Chairman of the
Board. Shelby recently served as Executive Vice
(cid:49)(cid:83)e(cid:84)i(cid:69)en(cid:85)(cid:13)(cid:1)(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:45)en(cid:69)in(cid:72)(cid:1)(cid:48)(cid:71)fice(cid:83)(cid:1)(cid:80)(cid:71)(cid:1)(cid:55)alliance(cid:1)(cid:35)an(cid:76)(cid:1)
in Fort Worth. He began his tenure at Valliance
Bank as the Tarrant County Market President in
July 2016 and was elevated to Texas President two
(cid:90)ea(cid:83)(cid:84)(cid:1)la(cid:85)e(cid:83)(cid:13)(cid:1)be(cid:71)(cid:80)(cid:83)e(cid:1)a(cid:84)(cid:84)(cid:86)(cid:78)in(cid:72)(cid:1)(cid:73)i(cid:84)(cid:1)final(cid:1)(cid:83)(cid:80)le(cid:1)(cid:85)(cid:73)e(cid:83)e(cid:1)in(cid:1)
January 2021. Previously, he had worked as Execu-
tive Vice President of Platinum Bank in Southlake
an(cid:69)(cid:1)(cid:38)(cid:89)ec(cid:86)(cid:85)i(cid:87)e(cid:1)(cid:55)ice(cid:1)(cid:49)(cid:83)e(cid:84)i(cid:69)en(cid:85)(cid:13)(cid:1)(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:45)en(cid:69)in(cid:72)(cid:1)(cid:48)(cid:71)fice(cid:83)(cid:1)
of Providence Bank Texas in Southlake. Shelby is
a graduate of the University of Texas at Dallas with
a bachelor’s degree in accounting and information
management. He is also a 2017 graduate of the
University of Colorado Graduate School of Banking.
Please help me thank Ivan Olson, Sam Baker and
Gary Gragg for their long and valued service to
our company. We congratulate them on their well-
deserved retirements and wish them all the best in
their new endeavors.
A Letter To Our Shareholders | Annual Report 2021 | 8
FFIN2021-AnnualReport-Updated.indd 8-9
David W. Bailey
David W. Bailey
EVP, Commercial Banking
Chris Baughman
Chris Baughman
President & CEO, Conroe Region
Vianei Lopez Braun
Vianei Lopez Braun
First Financial Bankshares
Shelby Bruhn
Shelby Bruhn
President & CEO, Southlake Region
Chris Cook
Chris Cook
EVP of Marketing
Luke Longhofer
Luke Longhofer
EVP, Chief Credit Officer
Kyle McVey, CPA
Kyle McVey, CPA
EVP, Chief Accounting Officer
Robert C. Nickles, Jr.
Robert C. Nickles, Jr.
First Financial Bankshares
Nora Thompson
Nora Thompson
President & CEO, BCS Region
Maggie Tuschinski
Maggie Tuschinski
EVP, Chief Digital Officer
DIVERSITY AND INCLUSION
First Financial Bankshares embraces and promotes
a culture of diversity and inclusion. We continue our
efforts to attract, recruit and retain employees who
bring to our company diverse backgrounds, orienta-
tions, beliefs, cultures and interests. We believe that
having a diverse team strengthens our company by
bringing together people with different ideas, skills
and experiences, and by enabling all our customers,
regardless of their race and other characteristics,
to feel at home when they visit one of our locations.
We are pleased that through our diversity programs,
we have been able to promote our fourth female
(cid:81)(cid:83)e(cid:84)i(cid:69)en(cid:85)(cid:13)(cid:1)a(cid:84)(cid:1)(cid:88)ell(cid:1)a(cid:84)(cid:1)elec(cid:85)(cid:1)(cid:80)(cid:86)(cid:83)(cid:1)fi(cid:83)(cid:84)(cid:85)(cid:1)(cid:34)(cid:71)(cid:83)ican(cid:14)(cid:34)(cid:78)e(cid:83)ican(cid:1)
director to the First Financial Bankshares Board. We
also continue to refresh and diversify our regional
and subsidiary boards which have 35 women and/or
minorities as members. These boards are made up
of the movers and shakers of each of the commu-
marketing strategy. He recently served for six years
nities we serve. We appreciate the participation of
as Dean of Texas A&M’s prestigious Mays Busi-
(cid:85)(cid:73)e(cid:1)fine(cid:1)(cid:78)en(cid:1)an(cid:69)(cid:1)(cid:88)(cid:80)(cid:78)en(cid:1)(cid:88)(cid:73)(cid:80)(cid:1)(cid:84)e(cid:83)(cid:87)e(cid:1)(cid:80)n(cid:1)(cid:80)(cid:86)(cid:83)(cid:1)b(cid:80)a(cid:83)(cid:69)(cid:84)(cid:28)(cid:1)
ness School, one of the nation’s top 20 business
their expertise, experiences and guidance bring us
programs, preceded by three years as Dean of the
(cid:78)an(cid:90)(cid:1)benefi(cid:85)(cid:84)(cid:15)
We highlight the importance of diversity and inclusion
to our company on page 11, where we present our 2021
Shining Stars. This program annually recognizes the
dedicated and professional First Financial bankers who
Sam M. Walton College of Business at the University
of Arkansas. He also served as Dean of the business
school at Louisiana State University and was founding
executive director of the Sales Excellence Institute
at the University of Houston.
have demonstrated consistent excellence in living our
Among his other professional activities, Eli serves on
Invesco’s Family of Funds board of directors, trustee,
and as an independent director on the Insperity, Inc.
board of directors. From 2012 to 2015, he served on
the advisory board of directors for Arvest Bank. He
is a Bryan/College Station native and holds a bach-
elor’s degree in journalism and both a master’s and
a doctorate degree in business administration from
Texas A&M University. We are delighted to have a board
member of Eli’s caliber, experience and education on
our Board. He is an excellent addition, and we look
(cid:71)(cid:80)(cid:83)(cid:88)a(cid:83)(cid:69)(cid:1)(cid:85)(cid:80)(cid:1)benefi(cid:85)in(cid:72)(cid:1)(cid:71)(cid:83)(cid:80)(cid:78)(cid:1)(cid:73)i(cid:84)(cid:1)(cid:69)i(cid:83)ec(cid:85)i(cid:80)n(cid:1)(cid:80)n(cid:1)(cid:85)(cid:73)e(cid:1)c(cid:80)(cid:78)(cid:81)an(cid:90)(cid:13)(cid:1)
bank and regional boards, particularly his experience
in marketing and sales culture.
Our Lead Director, Tucker Bridwell, has decided to
retire from the Board at this year’s annual meeting after
14 years of service. As Lead Director and one of our
senior board members, Tucker has been instrumental
in guiding the company and board to excellence. He
currently serves on the Executive Committee and
Nominating/Governance Committee, which he chairs.
In the past, he has served on the Audit, Compensation
and Bank Directors’ Loan Committees. He has served
on the Board of Directors of the First Financial Bank
Abilene Region for 35 years. Tucker is President of
the Mansefeldt Investment Corp., as well as the Dian
Graves Owen Foundation. He is a graduate of SMU’s
Cox School of Business and serves on SMU’s Board
of Trustees. We are certainly sad to see Tucker retire,
but we appreciate his years of leadership and direction.
It has been my immense pleasure to work with him as
Lead Director through the years.
Customer Service First philosophy.
These exceptional bankers perform at the highest
level, maintaining positive attitudes and a proactive
approach to accomplishing our mission. Year after
year, a large percentage of this honored group are
women and minorities. Of the 19 professional bankers
achieving this award in 2021, 15 were women and nine
were minorities, which demonstrates that our diversity
efforts bring the highest quality people to our company.
We recognize and celebrate them for what they do to
make this company great.
28% | 72%
EMPLOYEE DIVERSITY
MINORITIES
FEMALE 72.0%
MALE 28.0%
(RACIAL, VETERANS AND DISABLED)
37% MINORITY
1,484 EMPLOYEES
BOARD OF DIRECTOR CHANGES
At the January 2022 Board of Directors meeting, Eli
Jones, Ph.D., was appointed to the company’s Board
of Directors. Eli also was appointed to the First Finan-
cial Bank Board of Directors and he currently serves
on the Board of First Financial Bank’s Bryan/College
Station Region. Eli is a nationally known academic,
speaker and author, and has worked with major publicly
traded companies. He is Professor of Marketing and
the Lowry and Peggy Mays Eminent Scholar at Texas
A&M University and teaches courses in strategic and
advanced professional selling, sales leadership and
Tucker S. Bridwell
First Financial Bankshares
Dr. Eli Jones
First Financial Bankshares
A Letter To Our Shareholders | Annual Report 2021 | 9
3/14/2022 2:00:29 PM
MANAGEMENT CHANGES (CONTINUED)
SMU’s Southwestern Graduate School of Bank-
ing’s 2011 class.
In addition, at its January 2022 meeting, the Board of
Directors of First Financial Bankshares announced
the promotion of J. Kyle McVey to Executive Vice
(cid:49)(cid:83)e(cid:84)i(cid:69)en(cid:85)(cid:13)(cid:1)(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:34)cc(cid:80)(cid:86)n(cid:85)in(cid:72)(cid:1)(cid:48)(cid:71)fice(cid:83)(cid:15)(cid:1)(cid:44)(cid:90)le(cid:1)(cid:75)(cid:80)ine(cid:69)(cid:1)(cid:39)i(cid:83)(cid:84)(cid:85)(cid:1)
Financial Bankshares in 2011 following two years
with KPMG US LLP in Jacksonville, Florida. His
(cid:83)e(cid:84)(cid:81)(cid:80)n(cid:84)ibili(cid:85)ie(cid:84)(cid:1)incl(cid:86)(cid:69)e(cid:1)financial(cid:1)(cid:83)e(cid:81)(cid:80)(cid:83)(cid:85)in(cid:72)(cid:13)(cid:1)ac(cid:82)(cid:86)i-
sition strategy and analysis, internal and external
audit coordination and investor relations. He is
cochairman of the company’s Customer Service
First program, which oversees the company’s
mission of delivering excellence in customer service.
Kyle holds bachelor’s degrees in accounting and
finance(cid:1)an(cid:69)(cid:1)a(cid:1)(cid:78)a(cid:84)(cid:85)e(cid:83)(cid:110)(cid:84)(cid:1)in(cid:1)acc(cid:80)(cid:86)n(cid:85)in(cid:72)(cid:1)(cid:71)(cid:83)(cid:80)(cid:78)(cid:1)(cid:34)bilene(cid:1)
Christian University. He is a licensed CPA and a
graduate of SMU’s Southwestern Graduate School
of Banking, where he was valedictorian of his class.
In February 2022, the Board of First Financial Bank’s
Southlake Region elected Shelby Bruhn as Presi-
dent and CEO of the Region, succeeding Mark
Jones, who will continue to be Chairman of the
Board. Shelby recently served as Executive Vice
(cid:49)(cid:83)e(cid:84)i(cid:69)en(cid:85)(cid:13)(cid:1)(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:45)en(cid:69)in(cid:72)(cid:1)(cid:48)(cid:71)fice(cid:83)(cid:1)(cid:80)(cid:71)(cid:1)(cid:55)alliance(cid:1)(cid:35)an(cid:76)(cid:1)
in Fort Worth. He began his tenure at Valliance
Bank as the Tarrant County Market President in
July 2016 and was elevated to Texas President two
(cid:90)ea(cid:83)(cid:84)(cid:1)la(cid:85)e(cid:83)(cid:13)(cid:1)be(cid:71)(cid:80)(cid:83)e(cid:1)a(cid:84)(cid:84)(cid:86)(cid:78)in(cid:72)(cid:1)(cid:73)i(cid:84)(cid:1)final(cid:1)(cid:83)(cid:80)le(cid:1)(cid:85)(cid:73)e(cid:83)e(cid:1)in(cid:1)
January 2021. Previously, he had worked as Execu-
tive Vice President of Platinum Bank in Southlake
an(cid:69)(cid:1)(cid:38)(cid:89)ec(cid:86)(cid:85)i(cid:87)e(cid:1)(cid:55)ice(cid:1)(cid:49)(cid:83)e(cid:84)i(cid:69)en(cid:85)(cid:13)(cid:1)(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:45)en(cid:69)in(cid:72)(cid:1)(cid:48)(cid:71)fice(cid:83)(cid:1)
of Providence Bank Texas in Southlake. Shelby is
a graduate of the University of Texas at Dallas with
a bachelor’s degree in accounting and information
management. He is also a 2017 graduate of the
Please help me thank Ivan Olson, Sam Baker and
Gary Gragg for their long and valued service to
our company. We congratulate them on their well-
deserved retirements and wish them all the best in
their new endeavors.
A Letter To Our Shareholders | Annual Report 2021 | 8
FFIN2021-AnnualReport-Updated.indd 8-9
David W. Bailey
EVP, Commercial Banking
Chris Baughman
President & CEO, Conroe Region
Vianei Lopez Braun
First Financial Bankshares
Shelby Bruhn
President & CEO, Southlake Region
Chris Cook
EVP of Marketing
Luke Longhofer
EVP, Chief Credit Officer
Kyle McVey, CPA
EVP, Chief Accounting Officer
Robert C. Nickles, Jr.
First Financial Bankshares
Nora Thompson
President & CEO, BCS Region
Maggie Tuschinski
EVP, Chief Digital Officer
DIVERSITY AND INCLUSION
First Financial Bankshares embraces and promotes
a culture of diversity and inclusion. We continue our
efforts to attract, recruit and retain employees who
bring to our company diverse backgrounds, orienta-
tions, beliefs, cultures and interests. We believe that
having a diverse team strengthens our company by
bringing together people with different ideas, skills
regardless of their race and other characteristics,
to feel at home when they visit one of our locations.
We are pleased that through our diversity programs,
we have been able to promote our fourth female
(cid:81)(cid:83)e(cid:84)i(cid:69)en(cid:85)(cid:13)(cid:1)a(cid:84)(cid:1)(cid:88)ell(cid:1)a(cid:84)(cid:1)elec(cid:85)(cid:1)(cid:80)(cid:86)(cid:83)(cid:1)fi(cid:83)(cid:84)(cid:85)(cid:1)(cid:34)(cid:71)(cid:83)ican(cid:14)(cid:34)(cid:78)e(cid:83)ican(cid:1)
director to the First Financial Bankshares Board. We
also continue to refresh and diversify our regional
and subsidiary boards which have 35 women and/or
minorities as members. These boards are made up
University of Colorado Graduate School of Banking.
and experiences, and by enabling all our customers,
of the movers and shakers of each of the commu-
nities we serve. We appreciate the participation of
(cid:85)(cid:73)e(cid:1)fine(cid:1)(cid:78)en(cid:1)an(cid:69)(cid:1)(cid:88)(cid:80)(cid:78)en(cid:1)(cid:88)(cid:73)(cid:80)(cid:1)(cid:84)e(cid:83)(cid:87)e(cid:1)(cid:80)n(cid:1)(cid:80)(cid:86)(cid:83)(cid:1)b(cid:80)a(cid:83)(cid:69)(cid:84)(cid:28)(cid:1)
their expertise, experiences and guidance bring us
(cid:78)an(cid:90)(cid:1)benefi(cid:85)(cid:84)(cid:15)
We highlight the importance of diversity and inclusion
to our company on page 11, where we present our 2021
Shining Stars. This program annually recognizes the
dedicated and professional First Financial bankers who
have demonstrated consistent excellence in living our
Customer Service First philosophy.
These exceptional bankers perform at the highest
level, maintaining positive attitudes and a proactive
approach to accomplishing our mission. Year after
year, a large percentage of this honored group are
women and minorities. Of the 19 professional bankers
achieving this award in 2021, 15 were women and nine
were minorities, which demonstrates that our diversity
efforts bring the highest quality people to our company.
We recognize and celebrate them for what they do to
make this company great.
28% | 72%
EMPLOYEE DIVERSITY
FEMALE 72.0%
MALE 28.0%
MINORITIES
(RACIAL, VETERANS AND DISABLED)
37% MINORITY
1,484 EMPLOYEES
BOARD OF DIRECTOR CHANGES
At the January 2022 Board of Directors meeting, Eli
Jones, Ph.D., was appointed to the company’s Board
of Directors. Eli also was appointed to the First Finan-
cial Bank Board of Directors and he currently serves
on the Board of First Financial Bank’s Bryan/College
Station Region. Eli is a nationally known academic,
speaker and author, and has worked with major publicly
traded companies. He is Professor of Marketing and
the Lowry and Peggy Mays Eminent Scholar at Texas
A&M University and teaches courses in strategic and
advanced professional selling, sales leadership and
marketing strategy. He recently served for six years
as Dean of Texas A&M’s prestigious Mays Busi-
ness School, one of the nation’s top 20 business
programs, preceded by three years as Dean of the
Sam M. Walton College of Business at the University
of Arkansas. He also served as Dean of the business
school at Louisiana State University and was founding
executive director of the Sales Excellence Institute
at the University of Houston.
Among his other professional activities, Eli serves on
Invesco’s Family of Funds board of directors, trustee,
and as an independent director on the Insperity, Inc.
board of directors. From 2012 to 2015, he served on
the advisory board of directors for Arvest Bank. He
is a Bryan/College Station native and holds a bach-
elor’s degree in journalism and both a master’s and
a doctorate degree in business administration from
Texas A&M University. We are delighted to have a board
member of Eli’s caliber, experience and education on
our Board. He is an excellent addition, and we look
(cid:71)(cid:80)(cid:83)(cid:88)a(cid:83)(cid:69)(cid:1)(cid:85)(cid:80)(cid:1)benefi(cid:85)in(cid:72)(cid:1)(cid:71)(cid:83)(cid:80)(cid:78)(cid:1)(cid:73)i(cid:84)(cid:1)(cid:69)i(cid:83)ec(cid:85)i(cid:80)n(cid:1)(cid:80)n(cid:1)(cid:85)(cid:73)e(cid:1)c(cid:80)(cid:78)(cid:81)an(cid:90)(cid:13)(cid:1)
bank and regional boards, particularly his experience
in marketing and sales culture.
Our Lead Director, Tucker Bridwell, has decided to
retire from the Board at this year’s annual meeting after
14 years of service. As Lead Director and one of our
senior board members, Tucker has been instrumental
in guiding the company and board to excellence. He
currently serves on the Executive Committee and
Nominating/Governance Committee, which he chairs.
In the past, he has served on the Audit, Compensation
and Bank Directors’ Loan Committees. He has served
on the Board of Directors of the First Financial Bank
Abilene Region for 35 years. Tucker is President of
the Mansefeldt Investment Corp., as well as the Dian
Graves Owen Foundation. He is a graduate of SMU’s
Cox School of Business and serves on SMU’s Board
of Trustees. We are certainly sad to see Tucker retire,
but we appreciate his years of leadership and direction.
It has been my immense pleasure to work with him as
Lead Director through the years.
Tucker S. Bridwell
Tucker S. Bridwell
First Financial Bankshares
Dr. Eli Jones
Dr. Eli Jones
First Financial Bankshares
A Letter To Our Shareholders | Annual Report 2021 | 9
3/14/2022 2:00:29 PM
LOOKING AHEAD
Having achieved the largest growth in the company’s
history over the past two years— and with it, vigorous
momentum—our goal now is to maintain the trajec-
tory and velocity of that momentum. I could not be
more pleased with the people who have taken on new
positions across our company and accepted more
responsibilities to support our growth past the $10
billion mark in such a short period of time.
Our Horst Schulze training, our mission and vision
statements and our 21 nonnegotiables have kept our
entire team focused on excellence. We will maintain
that focus and continue to adhere to our bedrock
goals: to provide outstanding and personalized
customer service, deliver unparalleled value to our
shareholders, enrich the lives of our employees
and create a positive impact on the communities
we serve.
With the momentum we have, the outlook for First
Financial Bankshares is very good. We continue to
improve our bottom line by growing loans, deposits
and trust accounts, enhancing noninterest income
and controlling expenses. As in the past, we are
proceeding strategically on the acquisition front. We
are searching diligently to acquire, at the right price,
(cid:88)ell(cid:14)(cid:78)ana(cid:72)e(cid:69)(cid:1)ban(cid:76)(cid:84)(cid:1)(cid:85)(cid:73)a(cid:85)(cid:1)fi(cid:85)(cid:1)(cid:80)(cid:86)(cid:83)(cid:1)c(cid:86)l(cid:85)(cid:86)(cid:83)e(cid:1)an(cid:69)(cid:1)(cid:88)ill(cid:1)
bring long-term shareholder value to our company.
Our accomplishments and strong performance,
especially over these last two years, did not just
happen on their own, but rather came from the
dedication and hard work of a very professional
(cid:85)ea(cid:78)(cid:1)(cid:78)a(cid:69)e(cid:1)(cid:86)(cid:81)(cid:1)(cid:80)(cid:71)(cid:1)(cid:85)(cid:73)e(cid:1)b(cid:80)a(cid:83)(cid:69)(cid:1)(cid:78)e(cid:78)be(cid:83)(cid:84)(cid:13)(cid:1)(cid:80)(cid:71)fice(cid:83)(cid:84)(cid:1)an(cid:69)(cid:1)
employees with whom I have the honor of working.
They continue to go well beyond the call of duty
in providing our customers and communities with
exceptional service, and I thank each one of them.
Thank you also to our shareholders, who are so loyal
and supportive of our company. We never forget
that we work to put You First!
F. Scott Dueser
Chairman, President and CEO
2021 WALTER JOHNSON AWARD
2021 WALTER JOHNSON AWARD
The Walter Johnson Award is the Company’s highest honor bestowed
The Walter Johnson Award is the Company’s highest honor bestowed
upon a person who has contributed greatly and advanced our
upon a person who has contributed greatly and advanced our
company to new heights for shareholders, employees and the
company to new heights for shareholders, employees and the
community, just as Walter Johnson did. The Award has been given
community, just as Walter Johnson did. The Award has been given
only nine times in the last 16 years and is bestowed for the tenth time
only nine times in the last 16 years and is bestowed for the tenth time
(cid:85)(cid:80)(cid:1)(cid:40)a(cid:83)(cid:90)(cid:1)(cid:40)(cid:83)a(cid:72)(cid:72)(cid:13)(cid:1)(cid:83)e(cid:85)i(cid:83)e(cid:69)(cid:1)(cid:38)(cid:89)ec(cid:86)(cid:85)i(cid:87)e(cid:1)(cid:55)ice(cid:1)(cid:49)(cid:83)e(cid:84)i(cid:69)en(cid:85)(cid:13)(cid:1)(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:45)en(cid:69)in(cid:72)(cid:1)(cid:48)(cid:71)fice(cid:83)(cid:1)
(cid:85)(cid:80)(cid:1)(cid:40)a(cid:83)(cid:90)(cid:1)(cid:40)(cid:83)a(cid:72)(cid:72)(cid:13)(cid:1)(cid:83)e(cid:85)i(cid:83)e(cid:69)(cid:1)(cid:38)(cid:89)ec(cid:86)(cid:85)i(cid:87)e(cid:1)(cid:55)ice(cid:1)(cid:49)(cid:83)e(cid:84)i(cid:69)en(cid:85)(cid:13)(cid:1)(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:45)en(cid:69)in(cid:72)(cid:1)(cid:48)(cid:71)fice(cid:83)(cid:1)
of First Financial Bankshares, Inc. Gary was hired as Senior Vice
of First Financial Bankshares, Inc. Gary was hired as Senior Vice
President, Loan Review Manager on September 6, 1990, promoted
President, Loan Review Manager on September 6, 1990, promoted
to Executive Vice President of Lending in 2006, Executive Vice
to Executive Vice President of Lending in 2006, Executive Vice
President of Credit in 2011, Executive Vice President, Chief Lending
President of Credit in 2011, Executive Vice President, Chief Lending
(cid:48)(cid:71)fice(cid:83)(cid:1)(cid:80)(cid:71)(cid:1)(cid:39)i(cid:83)(cid:84)(cid:85)(cid:1)(cid:39)inancial(cid:1)(cid:35)an(cid:76)(cid:84)(cid:73)a(cid:83)e(cid:84)(cid:13)(cid:1)(cid:42)nc(cid:15)(cid:1)(cid:80)n(cid:1)(cid:52)e(cid:81)(cid:85)e(cid:78)be(cid:83)(cid:1)(cid:19)(cid:18)(cid:13)(cid:1)(cid:19)(cid:17)(cid:18)(cid:25)(cid:1)
(cid:48)(cid:71)fice(cid:83)(cid:1)(cid:80)(cid:71)(cid:1)(cid:39)i(cid:83)(cid:84)(cid:85)(cid:1)(cid:39)inancial(cid:1)(cid:35)an(cid:76)(cid:84)(cid:73)a(cid:83)e(cid:84)(cid:13)(cid:1)(cid:42)nc(cid:15)(cid:1)(cid:80)n(cid:1)(cid:52)e(cid:81)(cid:85)e(cid:78)be(cid:83)(cid:1)(cid:19)(cid:18)(cid:13)(cid:1)(cid:19)(cid:17)(cid:18)(cid:25)(cid:1)
and served until his retirement in January 2022. Throughout Gary’s
and served until his retirement in January 2022. Throughout Gary’s
career in the Company, he has been intricately involved in keeping
career in the Company, he has been intricately involved in keeping
the loan portfolio in pristine shape, loan losses minimal and the
the loan portfolio in pristine shape, loan losses minimal and the
income of the bank maximized. He was also actively involved in the
income of the bank maximized. He was also actively involved in the
Company’s merger and acquisition activity, external reporting and
Company’s merger and acquisition activity, external reporting and
maintaining proper balance for loan and lease losses. Over the last 30 years, Gary’s expertise in credit, diligence
maintaining proper balance for loan and lease losses. Over the last 30 years, Gary’s expertise in credit, diligence
in loan quality and his dedication to the Company have produced excellent results in our lending and acquisition
in loan quality and his dedication to the Company have produced excellent results in our lending and acquisition
strategies. Although Gary has retired from the Company, he will continue to contribute to our success by being
a member of the Board of Directors Loan Committee and Southeast Texas Regional Board. When we think of
Walter Johnson and TEXAS STRONG Bankers, we think of Gary Gragg.
THE 2021 SHINING STARS
The FFIN Shining Star Program recognizes dedicated and professional bankers who demonstrate consistent excel-
lence(cid:1)in(cid:1)(cid:71)(cid:86)lfillin(cid:72)(cid:1)(cid:80)(cid:86)(cid:83)(cid:1)(cid:36)(cid:86)(cid:84)(cid:85)(cid:80)(cid:78)e(cid:83)(cid:1)(cid:52)e(cid:83)(cid:87)ice(cid:1)(cid:39)i(cid:83)(cid:84)(cid:85)(cid:1)(cid:49)(cid:73)il(cid:80)(cid:84)(cid:80)(cid:81)(cid:73)(cid:90)(cid:15)(cid:1)(cid:53)(cid:73)e(cid:84)e(cid:1)e(cid:89)ce(cid:81)(cid:85)i(cid:80)nal(cid:1)ban(cid:76)e(cid:83)(cid:84)(cid:1)(cid:81)e(cid:83)(cid:71)(cid:80)(cid:83)(cid:78)(cid:1)a(cid:85)(cid:1)(cid:85)(cid:73)e(cid:1)(cid:73)i(cid:72)(cid:73)e(cid:84)(cid:85)(cid:1)le(cid:87)el(cid:13)(cid:1)
maintaining positive attitudes and a proactive approach to accomplishing our mission. The First Financial Shining
Stars represent our company well, honoring our long-standing reputation by acting with unmatched professional-
i(cid:84)(cid:78)(cid:13)(cid:1)a(cid:1)(cid:83)elen(cid:85)le(cid:84)(cid:84)(cid:1)(cid:88)(cid:80)(cid:83)(cid:76)(cid:1)e(cid:85)(cid:73)ic(cid:1)an(cid:69)(cid:1)an(cid:1)(cid:80)n(cid:72)(cid:80)in(cid:72)(cid:1)(cid:69)e(cid:84)i(cid:83)e(cid:1)(cid:85)(cid:80)(cid:1)b(cid:86)il(cid:69)(cid:13)(cid:1)i(cid:78)(cid:81)(cid:83)(cid:80)(cid:87)e(cid:13)(cid:1)an(cid:69)(cid:1)(cid:83)efine(cid:1)(cid:83)ela(cid:85)i(cid:80)n(cid:84)(cid:73)i(cid:81)(cid:84)(cid:1)(cid:88)i(cid:85)(cid:73)(cid:1)b(cid:80)(cid:85)(cid:73)(cid:1)c(cid:86)(cid:84)(cid:85)(cid:80)(cid:78)e(cid:83)(cid:84)(cid:1)
and fellow employees. We are so proud of our 2021 Shining Stars.
Sarah Bacon
First Financial Bankshares
Casjen Rico
Abilene Region
Misty Ramos
Bryan/College Station Region
Danielle Kunze
Cleburne Region
Teresa Baker
Conroe Region
Christy Bramlett
Eastland Region
Angelina Rodriguez
Fort Worth Region
Rosario Leyva
Hereford Region
Ryan Villarreal
Kingwood Region
Tricia Corks-Villery
Southeast Texas Region
Nancy Rivera
San Angelo Region
Kelly Ince
Southlake Region
Ann Uhler
Stephenville Region
Carolina Perez
Sweetwater Region
Debra Flores
Weatherford Region
Lisa Smith
Mortgage Division
Gary Milliorn
Shared Services
Marie Applegate
First Financial Trust
William Bullock
First Technology Services
A Letter To Our Shareholders & Walter Johnson Award 2021 | Annual Report 2021 | 10
FFIN2021-AnnualReport-Updated.indd 10-11
2021 Shining Stars | Annual Report 2021 | 11
3/14/2022 2:00:38 PM
LOOKING AHEAD
Having achieved the largest growth in the company’s
history over the past two years— and with it, vigorous
momentum—our goal now is to maintain the trajec-
tory and velocity of that momentum. I could not be
more pleased with the people who have taken on new
positions across our company and accepted more
responsibilities to support our growth past the $10
billion mark in such a short period of time.
Our Horst Schulze training, our mission and vision
statements and our 21 nonnegotiables have kept our
entire team focused on excellence. We will maintain
that focus and continue to adhere to our bedrock
goals: to provide outstanding and personalized
customer service, deliver unparalleled value to our
shareholders, enrich the lives of our employees
and create a positive impact on the communities
we serve.
and controlling expenses. As in the past, we are
proceeding strategically on the acquisition front. We
are searching diligently to acquire, at the right price,
(cid:88)ell(cid:14)(cid:78)ana(cid:72)e(cid:69)(cid:1)ban(cid:76)(cid:84)(cid:1)(cid:85)(cid:73)a(cid:85)(cid:1)fi(cid:85)(cid:1)(cid:80)(cid:86)(cid:83)(cid:1)c(cid:86)l(cid:85)(cid:86)(cid:83)e(cid:1)an(cid:69)(cid:1)(cid:88)ill(cid:1)
bring long-term shareholder value to our company.
Our accomplishments and strong performance,
especially over these last two years, did not just
happen on their own, but rather came from the
dedication and hard work of a very professional
(cid:85)ea(cid:78)(cid:1)(cid:78)a(cid:69)e(cid:1)(cid:86)(cid:81)(cid:1)(cid:80)(cid:71)(cid:1)(cid:85)(cid:73)e(cid:1)b(cid:80)a(cid:83)(cid:69)(cid:1)(cid:78)e(cid:78)be(cid:83)(cid:84)(cid:13)(cid:1)(cid:80)(cid:71)fice(cid:83)(cid:84)(cid:1)an(cid:69)(cid:1)
employees with whom I have the honor of working.
They continue to go well beyond the call of duty
in providing our customers and communities with
exceptional service, and I thank each one of them.
Thank you also to our shareholders, who are so loyal
and supportive of our company. We never forget
that we work to put You First!
With the momentum we have, the outlook for First
Financial Bankshares is very good. We continue to
F. Scott Dueser
improve our bottom line by growing loans, deposits
Chairman, President and CEO
and trust accounts, enhancing noninterest income
2021 WALTER JOHNSON AWARD
The Walter Johnson Award is the Company’s highest honor bestowed
upon a person who has contributed greatly and advanced our
company to new heights for shareholders, employees and the
community, just as Walter Johnson did. The Award has been given
only nine times in the last 16 years and is bestowed for the tenth time
(cid:85)(cid:80)(cid:1)(cid:40)a(cid:83)(cid:90)(cid:1)(cid:40)(cid:83)a(cid:72)(cid:72)(cid:13)(cid:1)(cid:83)e(cid:85)i(cid:83)e(cid:69)(cid:1)(cid:38)(cid:89)ec(cid:86)(cid:85)i(cid:87)e(cid:1)(cid:55)ice(cid:1)(cid:49)(cid:83)e(cid:84)i(cid:69)en(cid:85)(cid:13)(cid:1)(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:45)en(cid:69)in(cid:72)(cid:1)(cid:48)(cid:71)fice(cid:83)(cid:1)
of First Financial Bankshares, Inc. Gary was hired as Senior Vice
President, Loan Review Manager on September 6, 1990, promoted
to Executive Vice President of Lending in 2006, Executive Vice
President of Credit in 2011, Executive Vice President, Chief Lending
(cid:48)(cid:71)fice(cid:83)(cid:1)(cid:80)(cid:71)(cid:1)(cid:39)i(cid:83)(cid:84)(cid:85)(cid:1)(cid:39)inancial(cid:1)(cid:35)an(cid:76)(cid:84)(cid:73)a(cid:83)e(cid:84)(cid:13)(cid:1)(cid:42)nc(cid:15)(cid:1)(cid:80)n(cid:1)(cid:52)e(cid:81)(cid:85)e(cid:78)be(cid:83)(cid:1)(cid:19)(cid:18)(cid:13)(cid:1)(cid:19)(cid:17)(cid:18)(cid:25)(cid:1)
and served until his retirement in January 2022. Throughout Gary’s
career in the Company, he has been intricately involved in keeping
the loan portfolio in pristine shape, loan losses minimal and the
income of the bank maximized. He was also actively involved in the
Company’s merger and acquisition activity, external reporting and
THE 2021 SHINING STARS
The FFIN Shining Star Program recognizes dedicated and professional bankers who demonstrate consistent excel-
lence(cid:1)in(cid:1)(cid:71)(cid:86)lfillin(cid:72)(cid:1)(cid:80)(cid:86)(cid:83)(cid:1)(cid:36)(cid:86)(cid:84)(cid:85)(cid:80)(cid:78)e(cid:83)(cid:1)(cid:52)e(cid:83)(cid:87)ice(cid:1)(cid:39)i(cid:83)(cid:84)(cid:85)(cid:1)(cid:49)(cid:73)il(cid:80)(cid:84)(cid:80)(cid:81)(cid:73)(cid:90)(cid:15)(cid:1)(cid:53)(cid:73)e(cid:84)e(cid:1)e(cid:89)ce(cid:81)(cid:85)i(cid:80)nal(cid:1)ban(cid:76)e(cid:83)(cid:84)(cid:1)(cid:81)e(cid:83)(cid:71)(cid:80)(cid:83)(cid:78)(cid:1)a(cid:85)(cid:1)(cid:85)(cid:73)e(cid:1)(cid:73)i(cid:72)(cid:73)e(cid:84)(cid:85)(cid:1)le(cid:87)el(cid:13)(cid:1)
maintaining positive attitudes and a proactive approach to accomplishing our mission. The First Financial Shining
Stars represent our company well, honoring our long-standing reputation by acting with unmatched professional-
i(cid:84)(cid:78)(cid:13)(cid:1)a(cid:1)(cid:83)elen(cid:85)le(cid:84)(cid:84)(cid:1)(cid:88)(cid:80)(cid:83)(cid:76)(cid:1)e(cid:85)(cid:73)ic(cid:1)an(cid:69)(cid:1)an(cid:1)(cid:80)n(cid:72)(cid:80)in(cid:72)(cid:1)(cid:69)e(cid:84)i(cid:83)e(cid:1)(cid:85)(cid:80)(cid:1)b(cid:86)il(cid:69)(cid:13)(cid:1)i(cid:78)(cid:81)(cid:83)(cid:80)(cid:87)e(cid:13)(cid:1)an(cid:69)(cid:1)(cid:83)efine(cid:1)(cid:83)ela(cid:85)i(cid:80)n(cid:84)(cid:73)i(cid:81)(cid:84)(cid:1)(cid:88)i(cid:85)(cid:73)(cid:1)b(cid:80)(cid:85)(cid:73)(cid:1)c(cid:86)(cid:84)(cid:85)(cid:80)(cid:78)e(cid:83)(cid:84)(cid:1)
and fellow employees. We are so proud of our 2021 Shining Stars.
Sarah Bacon
Sarah Bacon
First Financial Bankshares
Casjen Rico
Casjen Rico
Abilene Region
Misty Ramos
Misty Ramos
Bryan/College Station Region
Danielle Kunze
Danielle Kunze
Cleburne Region
Teresa Baker
Teresa Baker
Conroe Region
Christy Bramlett
Christy Bramlett
Eastland Region
Angelina Rodriguez
Angelina Rodriguez
Fort Worth Region
Rosario Leyva
Rosario Leyva
Hereford Region
Ryan Villarreal
Ryan Villarreal
Kingwood Region
Tricia Corks-Villery
Tricia Corks-Villery
Southeast Texas Region
Nancy Rivera
Nancy Rivera
San Angelo Region
Kelly Ince
Kelly Ince
Southlake Region
Ann Uhler
Ann Uhler
Stephenville Region
Carolina Perez
Carolina Perez
Sweetwater Region
Debra Flores
Debra Flores
Weatherford Region
Lisa Smith
Mortgage Division
Gary Milliorn
Shared Services
maintaining proper balance for loan and lease losses. Over the last 30 years, Gary’s expertise in credit, diligence
in loan quality and his dedication to the Company have produced excellent results in our lending and acquisition
strategies. Although Gary has retired from the Company, he will continue to contribute to our success by being
a member of the Board of Directors Loan Committee and Southeast Texas Regional Board. When we think of
Walter Johnson and TEXAS STRONG Bankers, we think of Gary Gragg.
Marie Applegate
Marie Applegate
First Financial Trust
William Bullock
William Bullock
First Technology Services
A Letter To Our Shareholders & Walter Johnson Award 2021 | Annual Report 2021 | 10
FFIN2021-AnnualReport-Updated.indd 10-11
2021 Shining Stars | Annual Report 2021 | 11
3/14/2022 2:00:38 PM
FIRST FINANCIAL BANKSHARES FOOTPRINT
FIRST FINANCIAL BANK LOCATIONS
Amarillo
Hereford
Abilene
Dallas
Fort Worth
Odessa
San Angelo
Waco
Bryan /
College
Station
Austin
Huntsville
Conroe
San Antonio
Abilene ........... 325.627.7200
Eastland ......... 254.629.6100
Odessa ........ 432.367.8900
Acton .............. 817.573.6900
El Campo ...... 979.543.6441
Orange ........... 409.883.3563
Albany .............. 325.627.7905
Fort Worth ..... 817.410.4979
Palacios ......... 361.972.2585
Aledo .............. 817.341.5200
Glen Rose ........ 254.897.4808
Port Arthur ..... 409.726.8000
Alvarado ......... 817.774.5100
Granbury ........ 817.573.6900
Ranger ............ 254.629.6188
*Austin ............ 512.422.1782
Grapevine ...... 817.722.8980
Rising Star ..... 254.629.6703
Beaumont ...... 409.600.6456
Hereford ......... 806.363.8200
Roby ............... 325.776.2261
Boyd ............... 940.683.8760
Huntsville ...... 936.295.2224
San Angelo .... 325.659.5900
Bridgeport ..... 940.683.8700
Katy-Fulshear .. 281.346.0221
Southlake ...... 817.410.2915
Brock ............. 817.596.0307
Keller ............. 817.329.8625
Spring ............. 346.328.6910
Bryan ............ 979.260.2100
Kingwood ...... 281.318.4600
Stephenville ... 254.965.5036
Burleson ........ 817.774.5175
Magnolia ....... 936.273.4700
Sweetwater ... 325.235.6600
Cisco .............. 254.629.6111
Mauriceville ... 409.745.4433
Tomball .......... 281.516.7835
Cleburne ........ 817.774.5100
Merkel ........... 325.928.1111
Trent .............. 325.862.6121
Clyde .............. 325.627.7910
Midlothian ..... 972.723.7100
Trophy Club .... 817.329.8615
College Station... 979.260.2100
Mineral Wells .. 940.327.5400
Vidor ............... 409.769.5413
Conroe ............ 936.760.1888
Montgomery .. 936.597.5997
Waxahachie ... 972.723.7150
Cut and Shoot .... 936.788.2121
Moran ............ 325.627.7953
Weatherford ... 817.598.2600
*Dallas/Ft Worth. 972.385.8239
New Waverly .. 936.295.2224
Willis ............. 936.890.3500
Decatur .......... 940.683.8780
Newton ......... 409.379.2200
Willow Park ... 817.598.2780
FIRST FINANCIAL TR UST LOCATIONS
(cid:11)(cid:46)ortgage (cid:45)oan Office
Abilene
400 Pine Street, Suite 300
325.627.7100
Beaumont
3515 Dowlen Road
409.600.6460
Bryan/College Station
1716 Briarcrest Drive, Suite 400
979.260.2134
1000 Forest Park Blvd., Suite 200
9601 McAllister Freeway, Suite 1204
Fort Worth
682.703.6404
Houston
281.318.4625
24080 Hwy 59 North, Suite 200
Odessa
3555 Billy Hext Road
432.367.8912
San Angelo
222 S. Koenigheim Street
325.659.5987
San Antonio
210.864.4774
Stephenville
2201 W. South Loop
254.918.6262
Sweetwater
201 Elm Street
325.235.6644
First Financial Bankshares Footprint | Annual Report 2021 | 12
First Financial Bank Locations | Annual Report 2021 | 13
FFIN2021-AnnualReport-Updated.indd 12-13
3/14/2022 2:00:39 PM
FIRST FINANCIAL BANKSHARES FOOTPRINT
FIRST FINANCIAL BANK LOCATIONS
Amarillo
Hereford
Abilene
Dallas
Fort Worth
Odessa
San Angelo
Waco
Bryan /
College
Station
Austin
Huntsville
Conroe
San Antonio
Abilene ........... 325.627.7200
Eastland ......... 254.629.6100
Odessa ........ 432.367.8900
Acton .............. 817.573.6900
El Campo ...... 979.543.6441
Orange ........... 409.883.3563
Albany .............. 325.627.7905
Fort Worth ..... 817.410.4979
Palacios ......... 361.972.2585
Aledo .............. 817.341.5200
Glen Rose ........ 254.897.4808
Port Arthur ..... 409.726.8000
Alvarado ......... 817.774.5100
Granbury ........ 817.573.6900
Ranger ............ 254.629.6188
*Austin ............ 512.422.1782
Grapevine ...... 817.722.8980
Rising Star ..... 254.629.6703
Beaumont ...... 409.600.6456
Hereford ......... 806.363.8200
Roby ............... 325.776.2261
Boyd ............... 940.683.8760
Huntsville ...... 936.295.2224
San Angelo .... 325.659.5900
Bridgeport ..... 940.683.8700
Katy-Fulshear .. 281.346.0221
Southlake ...... 817.410.2915
Brock ............. 817.596.0307
Keller ............. 817.329.8625
Spring ............. 346.328.6910
Bryan ............ 979.260.2100
Kingwood ...... 281.318.4600
Stephenville ... 254.965.5036
Burleson ........ 817.774.5175
Magnolia ....... 936.273.4700
Sweetwater ... 325.235.6600
Cisco .............. 254.629.6111
Mauriceville ... 409.745.4433
Tomball .......... 281.516.7835
Cleburne ........ 817.774.5100
Merkel ........... 325.928.1111
Trent .............. 325.862.6121
Clyde .............. 325.627.7910
Midlothian ..... 972.723.7100
Trophy Club .... 817.329.8615
College Station... 979.260.2100
Mineral Wells .. 940.327.5400
Vidor ............... 409.769.5413
Conroe ............ 936.760.1888
Montgomery .. 936.597.5997
Waxahachie ... 972.723.7150
Cut and Shoot .... 936.788.2121
Moran ............ 325.627.7953
Weatherford ... 817.598.2600
*Dallas/Ft Worth. 972.385.8239
New Waverly .. 936.295.2224
Willis ............. 936.890.3500
Decatur .......... 940.683.8780
Newton ......... 409.379.2200
Willow Park ... 817.598.2780
(cid:11)(cid:46)ortgage (cid:45)oan Office
FI R ST FI NANCIAL TR UST LOCATION S
Abilene
400 Pine Street, Suite 300
325.627.7100
Beaumont
3515 Dowlen Road
409.600.6460
Bryan/College Station
1716 Briarcrest Drive, Suite 400
979.260.2134
Fort Worth
1000 Forest Park Blvd., Suite 200
682.703.6404
Houston
24080 Hwy 59 North, Suite 200
281.318.4625
Odessa
3555 Billy Hext Road
432.367.8912
San Angelo
222 S. Koenigheim Street
325.659.5987
San Antonio
9601 McAllister Freeway, Suite 1204
210.864.4774
Stephenville
2201 W. South Loop
254.918.6262
Sweetwater
201 Elm Street
325.235.6644
First Financial Bankshares Footprint | Annual Report 2021 | 12
First Financial Bank Locations | Annual Report 2021 | 13
FFIN2021-AnnualReport-Updated.indd 12-13
3/14/2022 2:00:39 PM
FINANCIAL HIGHLIGHTS
SELECTED FINANCIAL DATA
IN THOUSANDS (except for share data)
YEAR-END
TOTAL ASSETS
SHAREHOLDERS’
EQUITY
NET INCOME
DILUTED
EARNINGS
CASH
DIVIDENDS
YEAR-END
BOOK VALUE
YEAR-END
MARKET VALUE
(PER SHARE)
(PER SHARE)
(PER SHARE)
(PER SHARE)
STOCK
DIVIDENDS
AND SPLITS
$4,502,012
$556,963
$74,225
$0.59
$5,222,208
$587,647
$78,868
$0.62
IN THOUSANDS (except for share data)
IN THOUSANDS (except for share data)
FOR THE YEAR
Net Income
2021
2020
% INCREASE
AT YEAR-END
2021
2020
% INCREASE
$227,562
$202,034
12.64%
Assets
$13,102,461
$10,904,500
20.16%
$5,848,202
$681,537
$89,559
$0.70
2/1 split
Diluted Earnings (PER SHARE)
$1.59
$1.42
11.97%
Securities
$6,573,179
$4,393,029
49.63%
$6,665,070
$804,986
$100,381
$0.78
Dividends Declared
$82,615
$72,494
13.96%
Dividends (PER SHARE)
$0.58
$0.51
13.73%
Loans, HFI
Deposits
$5,388,972
$5,171,033
4.21%
$10,566,488
$8,675,817
21.79%
$6,809,931
$837,885
$104,774
$0.80
$7,254,715
$922,768
$120,371
$0.91
KEY RATIOS
Return On Avg. Assets
Return On Avg. Equity
Year-End Equity/Assets
Efficienc(cid:90)
1.89%
13.31%
13.43%
45.84%
1.98%
12.93%
15.39%
45.49%
Shareholders’ Equity
$1,759,224
$1,678,190
4.83%
$7,731,854
$1,053,295
$150,638
$1.11
Book Value Per Share
$12.34
$11.80
4.58%
$8,262,227
$1,227,197
$164,812
$1.21
2/1 split
Trust Assets (Book Value)
$5,880,293
$5,397,555
8.94%
$10,904,500
$1,678,190
$202,034
$1.42
Trust Assets (Market Value)
$8,699,025
$7,510,428
15.83%
$13,102,461
$1,759,224
$227,562
$1.59
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
$4.42
$4.59
$5.32
$6.10
$6.34
$6.97
$7.77
$9.03
$9.76
$16.53
$14.94
$15.09
$22.60
$22.53
$28.85
$35.10
$11.80
$36.17
$12.34
$50.84
NET INCOME (in thousands)
AVERAGES - FOR THE YEAR
11.27%
12.19%
11.85%
10.42%
8.77%
10.81%
17.94%
2017
$120,371
2018
$150,638
2019
$164,812
2020
$202,034
2021
$227,562
Assets
Securities
Loans
Deposits
$12,042,255
$10,193,515
18.14%
$5,402,144
$4,116,345
31.24%
$5,341,332
$5,152,531
3.66%
$9,673,934
$7,981,450
21.21%
Shareholders’ Equity
$1,709,432
$1,562,010
9.44%
RETURN ON AVERAGE EQUITY
EFFICIENCY RATIO
2017
13.63%
2018
15.37%
2019
14.37%
2020
12.93%
2021
13.31%
2017
49.26%
2018
49.72%
2019
48.61%
2020
45.49%
2021
45.84%
$0.25
$0.26
$0.28
$0.31
$0.35
$0.38
$0.41
$0.47
$0.51
$0.58
–
–
–
–
–
–
–
–
–
2017
4.01%
2018
3.96%
2019
3.98%
2020
3.79%
2021
3.40%
2017
1.72%
2018
1.98%
2019
2.08%
2020
1.98%
2021
1.89%
2021 COMMON STOCK MARKET VALUE AND DIVIDEND DATA
NET INTEREST MARGIN
Ten-Year
Compound
Growth Rate
Adjusted for stock dividends and splits
QUARTER
HIGH
LOW
CLOSE
DIVIDENDS
Fourth
Third
$55.00
$45.75
$50.84
$0.15
$50.49
$43.03
$45.95
$0.15
Second
$52.49
$45.18
$49.13
$0.15
First
$51.60
$35.17
$46.73
$0.13
QUARTER
HIGH
LOW
CLOSE
DIVIDENDS
Fourth
Third
$36.43
$27.49
$36.17
$0.13
$32.80
$26.71
$27.91
$0.13
Second
$33.81
$23.44
$28.89
$0.13
First
$35.94
$20.70
$26.84
$0.12
2020 COMMON STOCK MARKET VALUE AND DIVIDEND DATA
RETURN ON AVERAGE ASSETS
Financial Highlights | Annual Report 2021 | 14
FFIN2021-AnnualReport-Updated.indd 14-15
Financial Highlights | Annual Report 2021 | 15
3/14/2022 2:00:39 PM
FINANCIAL HIGHLIGHTS
SELECTED FINANCIAL DATA
IN THOUSANDS (except for share data)
IN THOUSANDS (except for share data)
IN THOUSANDS (except for share data)
FOR THE YEAR
Net Income
2021
2020
% INCREASE
AT YEAR-END
2021
2020
% INCREASE
$227,562
$202,034
12.64%
Assets
$13,102,461
$10,904,500
20.16%
Diluted Earnings (PER SHARE)
$1.59
$1.42
11.97%
Securities
$6,573,179
$4,393,029
49.63%
Dividends Declared
$82,615
$72,494
13.96%
Dividends (PER SHARE)
$0.58
$0.51
13.73%
KEY RATIOS
Return On Avg. Assets
Return On Avg. Equity
Year-End Equity/Assets
Efficienc(cid:90)
1.89%
13.31%
13.43%
45.84%
1.98%
12.93%
15.39%
45.49%
Loans, HFI
Deposits
$5,388,972
$5,171,033
4.21%
$10,566,488
$8,675,817
21.79%
Shareholders’ Equity
$1,759,224
$1,678,190
4.83%
Book Value Per Share
$12.34
$11.80
4.58%
Trust Assets (Book Value)
$5,880,293
$5,397,555
8.94%
Trust Assets (Market Value)
$8,699,025
$7,510,428
15.83%
NET INCOME (in thousands)
AVERAGES - FOR THE YEAR
Assets
Securities
Loans
Deposits
$12,042,255
$10,193,515
18.14%
$5,402,144
$4,116,345
31.24%
$5,341,332
$5,152,531
3.66%
$9,673,934
$7,981,450
21.21%
Shareholders’ Equity
$1,709,432
$1,562,010
9.44%
RETURN ON AVERAGE EQUITY
EFFICIENCY RATIO
2017
$120,371
2018
$150,638
2019
$164,812
2020
$202,034
2021
$227,562
2017
13.63%
2018
15.37%
2019
14.37%
2020
12.93%
2021
13.31%
2017
49.26%
2018
49.72%
2019
48.61%
2020
45.49%
2021
45.84%
YEAR-END
TOTAL ASSETS
SHAREHOLDERS’
EQUITY
NET INCOME
DILUTED
EARNINGS
(PER SHARE)
CASH
DIVIDENDS
(PER SHARE)
STOCK
DIVIDENDS
AND SPLITS
YEAR-END
BOOK VALUE
(PER SHARE)
YEAR-END
MARKET VALUE
(PER SHARE)
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
$4,502,012
$556,963
$74,225
$0.59
$5,222,208
$587,647
$78,868
$0.62
$5,848,202
$681,537
$89,559
$0.70
$6,665,070
$804,986
$100,381
$0.78
$6,809,931
$837,885
$104,774
$0.80
$7,254,715
$922,768
$120,371
$0.91
$7,731,854
$1,053,295
$150,638
$1.11
$8,262,227
$1,227,197
$164,812
$1.21
$10,904,500
$1,678,190
$202,034
$1.42
$13,102,461
$1,759,224
$227,562
$1.59
$0.25
$0.26
$0.28
$0.31
$0.35
$0.38
$0.41
$0.47
$0.51
$0.58
Ten-Year
Compound
Growth Rate
11.27%
12.19%
11.85%
10.42%
8.77%
Adjusted for stock dividends and splits
–
–
2/1 split
–
–
–
–
2/1 split
–
–
–
$4.42
$4.59
$5.32
$6.10
$6.34
$6.97
$7.77
$9.03
$9.76
$16.53
$14.94
$15.09
$22.60
$22.53
$28.85
$35.10
$11.80
$36.17
$12.34
$50.84
10.81%
17.94%
2021 COMMON STOCK MARKET VALUE AND DIVIDEND DATA
NET INTEREST MARGIN
QUARTER
HIGH
LOW
CLOSE
DIVIDENDS
Fourth
Third
$55.00
$45.75
$50.84
$0.15
$50.49
$43.03
$45.95
$0.15
Second
$52.49
$45.18
$49.13
$0.15
First
$51.60
$35.17
$46.73
$0.13
2017
4.01%
2018
3.96%
2019
3.98%
2020
3.79%
2021
3.40%
2020 COMMON STOCK MARKET VALUE AND DIVIDEND DATA
RETURN ON AVERAGE ASSETS
QUARTER
HIGH
LOW
CLOSE
DIVIDENDS
Fourth
Third
$36.43
$27.49
$36.17
$0.13
$32.80
$26.71
$27.91
$0.13
Second
$33.81
$23.44
$28.89
$0.13
First
$35.94
$20.70
$26.84
$0.12
2017
1.72%
2018
1.98%
2019
2.08%
2020
1.98%
2021
1.89%
Financial Highlights | Annual Report 2021 | 14
FFIN2021-AnnualReport-Updated.indd 14-15
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ABILENE REGION (CONTINUED)
EASTLAND DIVISION
ABILENE REGION
Abilene | Clyde | Moran | Albany | Odessa | Eastland | Ranger
Rising Star | Cisco | Sweetwater | Merkel | Trent | Roby
Ronald D. Butler II
Chairman and CEO
Marelyn Shedd
President
Abilene
In spite of challenges in 2021, including COVID, lingering supply chain issues
and a tight labor market, the future is paved with promise for the Abilene
Region. Abilene has broken ground on several new projects, including a new
17,000-square-foot, 200-room DoubleTree Hotel that will be adjacent to the
Abilene Convention Center; a new Great Lakes Cheese plant with a $185
million investment by the company in a 286,500-square-foot facility, which
represents its ninth location in the country; a 71,000-square-foot Amazon
warehouse delivery location; and a $2.4 billion data center to host bitcoin
mining. Hendrick Medical Center completed the acquisition of two additional
hospitals, and First Financial Bank has been honored to be involved in several
expansion projects with local universities as well as a low-income housing
project located at S. 9th and Butternut in Abilene that will consist of 29 units
to serve our senior population who earn below the median income.
In addition, Sweetwater has announced the expansion of a new Georgia
(cid:49)acific(cid:1)(cid:40)(cid:90)(cid:81)(cid:84)(cid:86)(cid:78)(cid:1)(cid:81)lan(cid:85)(cid:1)c(cid:80)n(cid:84)i(cid:84)(cid:85)in(cid:72)(cid:1)(cid:80)(cid:71)(cid:1)a(cid:1)(cid:24)(cid:17)(cid:17)(cid:13)(cid:17)(cid:17)(cid:17)(cid:14)(cid:84)(cid:82)(cid:86)a(cid:83)e(cid:14)(cid:71)(cid:80)(cid:80)(cid:85)(cid:1)(cid:88)allb(cid:80)a(cid:83)(cid:69)(cid:1)(cid:81)lan(cid:85)(cid:1)
with a $300 million investment by the company. This expansion will boost the
continued effort to bring more jobs, housing and growth in Sweetwater. To
our west, Odessa’s economy continues to boom with the ongoing increase
in oil and gas demand and, to our east, Eastland County continues to expand
thanks to a bustling industrial park and airport in Eastland, expanded programs
offered by Cisco College and Ranger College, and the revitalizations of their
downtown areas.
Abilene Senior Officers
Abilene Regional Directors
Corie O’Connor
Senior Vice President
Ryan Parrish
Senior Vice President
Fernando Quintana
Senior Vice President
Dennis Tarrant
Senior Vice President
Steve Waller
Senior Vice President
Ronald D. Butler II
Chairman and CEO
Marelyn Shedd
President
Chuck Tennesson
Executive Vice President
(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:48)(cid:81)e(cid:83)a(cid:85)i(cid:80)n(cid:84)(cid:1)(cid:48)(cid:71)fice(cid:83)(cid:1)
Kyle Seaton
Executive Vice President
(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:48)(cid:81)e(cid:83)a(cid:85)i(cid:80)n(cid:84)(cid:1)(cid:48)(cid:71)fice(cid:83)(cid:1)
David W. Bailey
Executive Vice President
Commercial Banking
Timothy Collard
Executive Vice President
Commercial Lending
Evan Harris
Executive Vice President
Real Estate Lending
Marshall Morris
Executive Vice President
Senior Lender - Abilene
Mark Pierce
Executive Vice President
Corporate Controller
Janet O’Dell
Executive Vice President
Mortgage Lending
Dayton Borger
Senior Vice President
Brett Clifton
Senior Vice President
Vanessa Faz
Senior Vice President
Patty Fuentes
Senior Vice President
Jim Goldston
Senior Vice President
Landon Hammond
Senior Vice President
Brad Magers
Senior Vice President
Murray Edwards
Principal
The Edwards Group
Allan D. Frizzell
Executive Vice President
Enrich Oil Corporation
Geoff Haney
President
Cape and Son Commodity
Merchandising
Brad Holland
President and CEO
Hendrick Health System
Kirk Massey
Investments
Stanley Morris, Jr.
Investments
Leigh Taliaferro, M.D.
Physician
Ronald D. Butler II
Chairman and CEO
Marelyn Shedd
President
Katie Alford
President and CEO
Community Foundation of Abilene
Tucker S. Bridwell
President
Mansefeldt Investment Corp.
Paul Cannon
Shareholder
President, McMahon,
Surovik, Suttle, P.C.
David L. Copeland
President, Sipco, Inc. and
Shelton Family Foundation
Joe Crawford
President
Abilene Aero, Inc.
Mike Denny
President
Batjer and Associates
IN THOUSANDS
ASSETS
LOANS
DEPOSITS
NET INCOME
RETURN ON AVG. ASSETS
EFFICIENCY RATIO
Dec. 31, 2020
$3,057,624
$1,180,748
$2,398,812
$59,108
Dec. 31, 2021
$4,012,071
$1,322,821
$3,117,158
$60,604
2.02%
1.70%
40.90%
41.13%
Eastland Senior Officers
Steve Simmel
Senior Vice President
(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:48)(cid:81)e(cid:83)a(cid:85)i(cid:80)n(cid:84)(cid:1)(cid:48)(cid:71)fice(cid:83)
David W. Bailey
Eastland Division CEO
Candi Kanady
President, Eastland Division
Jay Kidwell
Executive Vice President
Commerical Lending
Derrick Saucedo
Senior Vice President
Eastland Division Directors
David W. Bailey
Eastland Division CEO
Jim Keffer
EBAA Iron Sales, Inc.
Candi Kanady
President, Eastland Division
Marelyn Shedd
President, Abilene Region
Jim Farrar
Attorney
Devin Koenig
Owner
Plexus Healthcare
Jim Moylan, Jr.
Partner
MOTEC, Ltd.
Sweetwater Senior Officers
Joseph Crouch
President, Sweetwater Division
Thea Hernandez
Senior Vice President
Senior Consumer Lender
Rodney Foster
Executive Vice President
Commercial Lending
Debbie Anthony
Senior Vice President
Retail Manager
Sweetwater Division Directors
Joseph Crouch
Louis Brooks, Jr.
Sweetwater Division President
Ranching
Marelyn Shedd
President, Abilene Region
Donna J. Boatright
Healthcare and
Quality Consultant
Jeff Branson
General Partner
Jay Lawrence
President
MAL Enterprises, Inc.
Larry May
May & Hrbacek CPAs
Thomas L. Rees, Jr.
Rees, Rees, & Fuller
Williamson-Branson Real Estate
Attorneys
David W. Bailey
CEO
Eastland Division
Candi Kanady
President
Eastland Division
Joseph Crouch
President
Sweetwater Division
SWEETWATER DIVISION
ABILENE MAIN OFFICE
400 Pine St.
Abilene, TX 79601 | 325.627.7200
EASTLAND OFFICE
201 E. Main St.
Eastland, TX 76448 | 254.629.6100
SWEETWATER OFFICE
201 Elm St.
Sweetwater, TX 79556 | 325.235.6600
Abilene Region | Annual Report 2021 | 16
FFIN2021-AnnualReport-Updated.indd 16-17
Eastland and Sweetwater Divisions | Annual Report 2021 | 17
3/14/2022 2:00:41 PM
ABILENE REGION
Abilene | Clyde | Moran | Albany | Odessa | Eastland | Ranger
Rising Star | Cisco | Sweetwater | Merkel | Trent | Roby
In spite of challenges in 2021, including COVID, lingering supply chain issues
ABILENE REGION (CONTINUED)
EASTLAND DIVISION
Eastland Senior Officers
Steve Simmel
Senior Vice President
(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:48)(cid:81)e(cid:83)a(cid:85)i(cid:80)n(cid:84)(cid:1)(cid:48)(cid:71)fice(cid:83)
David W. Bailey
Eastland Division CEO
Candi Kanady
President, Eastland Division
Jay Kidwell
Executive Vice President
Commerical Lending
Derrick Saucedo
Senior Vice President
Eastland Division Directors
David W. Bailey
Eastland Division CEO
Jim Keffer
EBAA Iron Sales, Inc.
Candi Kanady
President, Eastland Division
Marelyn Shedd
President, Abilene Region
Jim Farrar
Attorney
Devin Koenig
Owner
Plexus Healthcare
Jim Moylan, Jr.
Partner
MOTEC, Ltd.
Sweetwater Senior Officers
Thea Hernandez
Senior Vice President
Senior Consumer Lender
Joseph Crouch
President, Sweetwater Division
Rodney Foster
Executive Vice President
Commercial Lending
Debbie Anthony
Senior Vice President
Retail Manager
Sweetwater Division Directors
Joseph Crouch
Sweetwater Division President
Louis Brooks, Jr.
Ranching
Marelyn Shedd
President, Abilene Region
Donna J. Boatright
Healthcare and
Quality Consultant
Jay Lawrence
President
MAL Enterprises, Inc.
Larry May
May & Hrbacek CPAs
Jeff Branson
General Partner
Williamson-Branson Real Estate
Thomas L. Rees, Jr.
Rees, Rees, & Fuller
Attorneys
David W. Bailey
CEO
Eastland Division
Candi Kanady
President
Eastland Division
SWEETWATER DIVISION
Joseph Crouch
President
Sweetwater Division
ABILENE MAIN OFFICE
400 Pine St.
Abilene, TX 79601 | 325.627.7200
EASTLAND OFFICE
201 E. Main St.
Eastland, TX 76448 | 254.629.6100
SWEETWATER OFFICE
201 Elm St.
Sweetwater, TX 79556 | 325.235.6600
Eastland and Sweetwater Divisions | Annual Report 2021 | 17
3/14/2022 2:00:41 PM
Ronald D. Butler II
Chairman and CEO
Marelyn Shedd
President
Abilene
and a tight labor market, the future is paved with promise for the Abilene
Region. Abilene has broken ground on several new projects, including a new
17,000-square-foot, 200-room DoubleTree Hotel that will be adjacent to the
Abilene Convention Center; a new Great Lakes Cheese plant with a $185
million investment by the company in a 286,500-square-foot facility, which
represents its ninth location in the country; a 71,000-square-foot Amazon
warehouse delivery location; and a $2.4 billion data center to host bitcoin
mining. Hendrick Medical Center completed the acquisition of two additional
hospitals, and First Financial Bank has been honored to be involved in several
expansion projects with local universities as well as a low-income housing
project located at S. 9th and Butternut in Abilene that will consist of 29 units
to serve our senior population who earn below the median income.
In addition, Sweetwater has announced the expansion of a new Georgia
(cid:49)acific(cid:1)(cid:40)(cid:90)(cid:81)(cid:84)(cid:86)(cid:78)(cid:1)(cid:81)lan(cid:85)(cid:1)c(cid:80)n(cid:84)i(cid:84)(cid:85)in(cid:72)(cid:1)(cid:80)(cid:71)(cid:1)a(cid:1)(cid:24)(cid:17)(cid:17)(cid:13)(cid:17)(cid:17)(cid:17)(cid:14)(cid:84)(cid:82)(cid:86)a(cid:83)e(cid:14)(cid:71)(cid:80)(cid:80)(cid:85)(cid:1)(cid:88)allb(cid:80)a(cid:83)(cid:69)(cid:1)(cid:81)lan(cid:85)(cid:1)
with a $300 million investment by the company. This expansion will boost the
continued effort to bring more jobs, housing and growth in Sweetwater. To
our west, Odessa’s economy continues to boom with the ongoing increase
in oil and gas demand and, to our east, Eastland County continues to expand
thanks to a bustling industrial park and airport in Eastland, expanded programs
offered by Cisco College and Ranger College, and the revitalizations of their
downtown areas.
Abilene Senior Officers
Abilene Regional Directors
Ronald D. Butler II
Chairman and CEO
Mark Pierce
Corie O’Connor
Executive Vice President
Senior Vice President
Ronald D. Butler II
Chairman and CEO
Ryan Parrish
Senior Vice President
Fernando Quintana
Senior Vice President
Dennis Tarrant
Senior Vice President
Steve Waller
Senior Vice President
Marelyn Shedd
President
Chuck Tennesson
Executive Vice President
(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:48)(cid:81)e(cid:83)a(cid:85)i(cid:80)n(cid:84)(cid:1)(cid:48)(cid:71)fice(cid:83)(cid:1)
Kyle Seaton
Executive Vice President
(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:48)(cid:81)e(cid:83)a(cid:85)i(cid:80)n(cid:84)(cid:1)(cid:48)(cid:71)fice(cid:83)(cid:1)
David W. Bailey
Executive Vice President
Commercial Banking
Timothy Collard
Executive Vice President
Commercial Lending
Evan Harris
Executive Vice President
Real Estate Lending
Corporate Controller
Janet O’Dell
Executive Vice President
Mortgage Lending
Dayton Borger
Senior Vice President
Brett Clifton
Senior Vice President
Vanessa Faz
Senior Vice President
Patty Fuentes
Senior Vice President
Jim Goldston
Senior Vice President
Landon Hammond
Senior Vice President
Marshall Morris
Brad Magers
Executive Vice President
Senior Vice President
Senior Lender - Abilene
Murray Edwards
Principal
The Edwards Group
Allan D. Frizzell
Executive Vice President
Enrich Oil Corporation
Geoff Haney
President
Cape and Son Commodity
Merchandising
Brad Holland
President and CEO
Hendrick Health System
Kirk Massey
Investments
Stanley Morris, Jr.
Investments
Leigh Taliaferro, M.D.
Physician
Marelyn Shedd
President
Katie Alford
President and CEO
Community Foundation of Abilene
Tucker S. Bridwell
President
Mansefeldt Investment Corp.
Paul Cannon
Shareholder
President, McMahon,
Surovik, Suttle, P.C.
David L. Copeland
President, Sipco, Inc. and
Shelton Family Foundation
Joe Crawford
President
Abilene Aero, Inc.
Mike Denny
President
Batjer and Associates
IN THOUSANDS
ASSETS
LOANS
DEPOSITS
NET INCOME
RETURN ON AVG. ASSETS
EFFICIENCY RATIO
Dec. 31, 2020
$3,057,624
$1,180,748
$2,398,812
$59,108
Dec. 31, 2021
$4,012,071
$1,322,821
$3,117,158
$60,604
2.02%
1.70%
40.90%
41.13%
Abilene Region | Annual Report 2021 | 16
FFIN2021-AnnualReport-Updated.indd 16-17
BRYAN/COLLEGE STATION
Bryan | College Station
Timothy N. Bryan
Chairman
Nora Thompson
President and CEO
MAIN OFFICE
1716 Briarcrest Dr. Ste 400
Bryan, TX 77802 | 979.260.2100
Last year was our second with the First Financial family, which
brought new products and services to offer our customers, including
digital banking, treasury management, secondary market mortgage
and consumer lending, along with a much larger lending limit. Former
CEO Ivan Olson retired mid-year and, as planned, Nora Thompson
assumed the title of both President and CEO. Also, two new directors
joined our regional board – Dr. Eli Jones, former Dean of Mays
Business School, and Bobby Gutierrez, a small business leader and
active participant in local government and economic development
initiatives. We continue to be bullish on the future as Texas A&M
University’s main campus and RELLIS Campus, along with Blinn
College, continue their patterns of incremental student body growth,
topping 90,000 students this past fall. We processed $53 million in
our government’s PPP loan forgiveness applications. In November,
we broke ground on a new 16,000-square-foot regional headquarters
branch location to better serve our community, and more branches
are contemplated for the future. Through it all, though, we remain
the same local bankers our customers have known over generations,
an(cid:69)(cid:1)(cid:88)e(cid:1)a(cid:83)e(cid:1)(cid:81)(cid:83)(cid:80)(cid:86)(cid:69)(cid:1)(cid:80)(cid:71)(cid:1)(cid:80)(cid:86)(cid:83)(cid:1)(cid:81)lace(cid:1)(cid:88)i(cid:85)(cid:73)in(cid:1)a(cid:1)fi(cid:83)(cid:84)(cid:85)(cid:14)cla(cid:84)(cid:84)(cid:1)ban(cid:76)in(cid:72)(cid:1)c(cid:80)(cid:78)(cid:81)an(cid:90)(cid:15)
I am so thankful to work and live in the great state of Texas. Despite
CLEBURNE REGION
a number of headwinds that carried into 2021, the Cleburne Region
Cleburne | Burleson | Alvarado | Midlothian | Waxahachie
experienced a number of personal bests. This was led by 24 percent
loan growth, net of PPP loans and many new depository customers
to the bank. Not only is the region in the best state, it is strategically
positioned, with numerous businesses and families moving here
monthly. Supply chain concerns in construction and the ever-
(cid:82)(cid:86)e(cid:84)(cid:85)i(cid:80)nable(cid:1)in(cid:230)a(cid:85)i(cid:80)n(cid:1)(cid:69)i(cid:69)(cid:1)n(cid:80)(cid:85)(cid:1)(cid:69)i(cid:78)ini(cid:84)(cid:73)(cid:1)(cid:85)(cid:73)e(cid:1)en(cid:85)(cid:83)e(cid:81)(cid:83)ene(cid:86)(cid:83)ial(cid:1)(cid:84)(cid:81)i(cid:83)i(cid:85)(cid:1)(cid:80)(cid:71)(cid:1)
American businessmen and women. Our region continues to be
actively involved in regional development projects in Midlothian,
(cid:56)a(cid:89)a(cid:73)ac(cid:73)ie(cid:1)an(cid:69)(cid:1)(cid:36)leb(cid:86)(cid:83)ne(cid:15)(cid:1)(cid:46)e(cid:69)ian(cid:1)(cid:73)(cid:80)(cid:78)e(cid:1)(cid:81)(cid:83)ice(cid:84)(cid:1)(cid:83)(cid:80)(cid:84)e(cid:1)(cid:84)i(cid:72)nifican(cid:85)l(cid:90)(cid:1)
throughout 2021 in Johnson County from $251,000 at the beginning of
the year to $317,000 in December and in Ellis County from $283,000 to
$360,000. Home inventory levels remain at record lows and indications
a(cid:83)e(cid:1)(cid:85)(cid:73)e(cid:90)(cid:1)(cid:88)ill(cid:1)(cid:83)e(cid:78)ain(cid:1)(cid:84)(cid:80)(cid:1)(cid:71)(cid:80)(cid:83)(cid:1)(cid:84)(cid:80)(cid:78)e(cid:1)(cid:85)i(cid:78)e(cid:15)(cid:1)(cid:42)(cid:1)a(cid:78)(cid:1)c(cid:80)nfi(cid:69)en(cid:85)(cid:1)(cid:53)e(cid:89)a(cid:84)(cid:1)(cid:88)ill(cid:1)(cid:83)e(cid:78)ain(cid:1)
Strong and the momentum generated in 2021 will catapult us to greater
heights in 2022.
Austin Elsner
Chairman, President and CEO
MAIN OFFICE
200 N. Ridgeway Dr.
Cleburne, TX 76033 | 817.774.5100
IN THOUSANDS
ASSETS
LOANS
DEPOSITS
NET INCOME
RETURN ON AVG. ASSETS
Dec. 31, 2020
$891,563
$470,443
$665,355
Dec. 31, 2021
$1,043,688
$415,634
$801,022
$12,833
$17,407
1.50%
1.77%
EFFICIENCY RATIO
44.12%
43.17%
IN THOUSANDS
ASSETS
LOANS
DEPOSITS
NET INCOME
RETURN ON AVG. ASSETS
EFFICIENCY RATIO
Dec. 31, 2020
$649,128
$227,069
$579,023
Dec. 31, 2021
$784,285
$267,465
$708,881
$10,020
$11,078
1.99%
1.74%
48.57%
49.05%
Senior Officers
Timothy N. Bryan
Chairman
Nora Thompson
President and CEO
Jerry E. Fox
Executive Vice President
(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:48)(cid:81)e(cid:83)a(cid:85)i(cid:80)n(cid:84)(cid:1)(cid:48)(cid:71)fice(cid:83)
Austin W. Bryan
Executive Vice President
J. Cal McNeill
Executive Vice President
Joe G. Salvato
Executive Vice President
Regional Board of Directors
Timothy N. Bryan
Chairman of the Board
Nora Thompson
President and CEO
Brian Barrett
President Kurten Farms, Ltd.
R. Sid Cauthorn
Westex Bancorp
Ronnie L. Craig
Thompson, Derrig & Craig CPAs
F. Scott Dueser
First Financial Bankshares, Inc
Lynn Elliott
Lometa Petroleum Corporation
Charles A. Ellison
Attorney at Law
President and Founder, The Ellison Law Firm
James R. Gordon
First Financial Bankshares, Inc.
Bobby Gutierrez
President, Guitierrez Ventures, Inc.
Bryan/College Station Region | Annual Report 2021 | 18
FFIN2021-AnnualReport-Updated.indd 18-19
Cameron Comire
Senior Vice President
Melanie N. Motley
Senior Vice President
Robert Olivarez, Jr.
Senior Vice President
Janet B. Prater
Senior Vice President
Lawrence B. Hodges Jr.
H&B Copies Inc., Copy Corner
Dr. Eli Jones
Former Dean of Mays Business School
Professor of Marketing
Lowry and Peggy Mays Eminent Scholar
Hank McQuaide
Berkshire Hathaway, Caliber Realty
Ivan M. Olson
Retired President - First Financial Bank
Bryan/College Station Region
William L. Rayburn, M.D.
(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:46)e(cid:69)ical(cid:1)(cid:48)(cid:71)fice(cid:83)(cid:13)(cid:1)(cid:35)a(cid:90)l(cid:80)(cid:83)(cid:1)(cid:52)c(cid:80)(cid:85)(cid:85)(cid:1)(cid:7)(cid:1)
White Health College Station
Senior Officers
Austin Elsner
Chairman, President and CEO
Russell Phillips
Executive Vice President
Commercial Lending
Jaye Weishuhn
Senior Vice President
(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:48)(cid:81)e(cid:83)a(cid:85)i(cid:80)n(cid:84)(cid:1)(cid:48)(cid:71)fice(cid:83)(cid:1)
Alecia Bland
Senior Vice President
Austin Elsner
Chairman, President and CEO
Cathy Altman
Attorney
Carrington Coleman, LLP
Ray Beavers
Retired
General Manager and CEO
United Cooperative Services
Regional Board of Directors
Stacey Sloan
Senior Vice President
Kim Hamilton
Senior Vice President
John Knight
Senior Vice President
John Saenz
Senior Vice President
Chris Schjetnan
Senior Vice President
Ronald D. Butler II
Tim Lyness
First Financial Bankshares, Inc.
Lyness Construction, LP
Robert Childress III
Childress Engineers
Mark Hill
Utility Construction Consultant
Jack Scott
Bell-Scott Insurance Group
Cleburne Region | Annual Report 2021 | 19
3/14/2022 2:00:41 PM
BRYAN/COLLEGE STATION
Bryan | College Station
Timothy N. Bryan
Chairman
Nora Thompson
President and CEO
Last year was our second with the First Financial family, which
brought new products and services to offer our customers, including
digital banking, treasury management, secondary market mortgage
and consumer lending, along with a much larger lending limit. Former
CEO Ivan Olson retired mid-year and, as planned, Nora Thompson
assumed the title of both President and CEO. Also, two new directors
joined our regional board – Dr. Eli Jones, former Dean of Mays
Business School, and Bobby Gutierrez, a small business leader and
active participant in local government and economic development
initiatives. We continue to be bullish on the future as Texas A&M
University’s main campus and RELLIS Campus, along with Blinn
College, continue their patterns of incremental student body growth,
topping 90,000 students this past fall. We processed $53 million in
our government’s PPP loan forgiveness applications. In November,
we broke ground on a new 16,000-square-foot regional headquarters
branch location to better serve our community, and more branches
are contemplated for the future. Through it all, though, we remain
the same local bankers our customers have known over generations,
an(cid:69)(cid:1)(cid:88)e(cid:1)a(cid:83)e(cid:1)(cid:81)(cid:83)(cid:80)(cid:86)(cid:69)(cid:1)(cid:80)(cid:71)(cid:1)(cid:80)(cid:86)(cid:83)(cid:1)(cid:81)lace(cid:1)(cid:88)i(cid:85)(cid:73)in(cid:1)a(cid:1)fi(cid:83)(cid:84)(cid:85)(cid:14)cla(cid:84)(cid:84)(cid:1)ban(cid:76)in(cid:72)(cid:1)c(cid:80)(cid:78)(cid:81)an(cid:90)(cid:15)
I am so thankful to work and live in the great state of Texas. Despite
a number of headwinds that carried into 2021, the Cleburne Region
experienced a number of personal bests. This was led by 24 percent
loan growth, net of PPP loans and many new depository customers
to the bank. Not only is the region in the best state, it is strategically
positioned, with numerous businesses and families moving here
monthly. Supply chain concerns in construction and the ever-
(cid:82)(cid:86)e(cid:84)(cid:85)i(cid:80)nable(cid:1)in(cid:230)a(cid:85)i(cid:80)n(cid:1)(cid:69)i(cid:69)(cid:1)n(cid:80)(cid:85)(cid:1)(cid:69)i(cid:78)ini(cid:84)(cid:73)(cid:1)(cid:85)(cid:73)e(cid:1)en(cid:85)(cid:83)e(cid:81)(cid:83)ene(cid:86)(cid:83)ial(cid:1)(cid:84)(cid:81)i(cid:83)i(cid:85)(cid:1)(cid:80)(cid:71)(cid:1)
American businessmen and women. Our region continues to be
actively involved in regional development projects in Midlothian,
(cid:56)a(cid:89)a(cid:73)ac(cid:73)ie(cid:1)an(cid:69)(cid:1)(cid:36)leb(cid:86)(cid:83)ne(cid:15)(cid:1)(cid:46)e(cid:69)ian(cid:1)(cid:73)(cid:80)(cid:78)e(cid:1)(cid:81)(cid:83)ice(cid:84)(cid:1)(cid:83)(cid:80)(cid:84)e(cid:1)(cid:84)i(cid:72)nifican(cid:85)l(cid:90)(cid:1)
throughout 2021 in Johnson County from $251,000 at the beginning of
the year to $317,000 in December and in Ellis County from $283,000 to
$360,000. Home inventory levels remain at record lows and indications
a(cid:83)e(cid:1)(cid:85)(cid:73)e(cid:90)(cid:1)(cid:88)ill(cid:1)(cid:83)e(cid:78)ain(cid:1)(cid:84)(cid:80)(cid:1)(cid:71)(cid:80)(cid:83)(cid:1)(cid:84)(cid:80)(cid:78)e(cid:1)(cid:85)i(cid:78)e(cid:15)(cid:1)(cid:42)(cid:1)a(cid:78)(cid:1)c(cid:80)nfi(cid:69)en(cid:85)(cid:1)(cid:53)e(cid:89)a(cid:84)(cid:1)(cid:88)ill(cid:1)(cid:83)e(cid:78)ain(cid:1)
Strong and the momentum generated in 2021 will catapult us to greater
heights in 2022.
CLEBURNE REGION
Cleburne | Burleson | Alvarado | Midlothian | Waxahachie
Austin Elsner
Chairman, President and CEO
MAIN OFFICE
200 N. Ridgeway Dr.
Cleburne, TX 76033 | 817.774.5100
IN THOUSANDS
ASSETS
LOANS
DEPOSITS
NET INCOME
RETURN ON AVG. ASSETS
EFFICIENCY RATIO
IN THOUSANDS
ASSETS
LOANS
DEPOSITS
NET INCOME
RETURN ON AVG. ASSETS
Dec. 31, 2020
$891,563
$470,443
$665,355
Dec. 31, 2021
$1,043,688
$415,634
$801,022
$12,833
$17,407
1.50%
1.77%
44.12%
43.17%
Dec. 31, 2020
$649,128
$227,069
$579,023
Dec. 31, 2021
$784,285
$267,465
$708,881
$10,020
$11,078
1.99%
1.74%
EFFICIENCY RATIO
48.57%
49.05%
Austin W. Bryan
Executive Vice President
J. Cal McNeill
Executive Vice President
Joe G. Salvato
Executive Vice President
F. Scott Dueser
First Financial Bankshares, Inc
Lynn Elliott
Lometa Petroleum Corporation
Charles A. Ellison
Attorney at Law
James R. Gordon
First Financial Bankshares, Inc.
Bobby Gutierrez
President, Guitierrez Ventures, Inc.
President and Founder, The Ellison Law Firm
Cameron Comire
Senior Vice President
Melanie N. Motley
Senior Vice President
Robert Olivarez, Jr.
Senior Vice President
Janet B. Prater
Senior Vice President
Lawrence B. Hodges Jr.
H&B Copies Inc., Copy Corner
Dr. Eli Jones
Former Dean of Mays Business School
Professor of Marketing
Lowry and Peggy Mays Eminent Scholar
Hank McQuaide
Berkshire Hathaway, Caliber Realty
Ivan M. Olson
Retired President - First Financial Bank
Bryan/College Station Region
William L. Rayburn, M.D.
(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:46)e(cid:69)ical(cid:1)(cid:48)(cid:71)fice(cid:83)(cid:13)(cid:1)(cid:35)a(cid:90)l(cid:80)(cid:83)(cid:1)(cid:52)c(cid:80)(cid:85)(cid:85)(cid:1)(cid:7)(cid:1)
White Health College Station
Senior Officers
Austin Elsner
Chairman, President and CEO
Russell Phillips
Executive Vice President
Commercial Lending
Jaye Weishuhn
Senior Vice President
(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:48)(cid:81)e(cid:83)a(cid:85)i(cid:80)n(cid:84)(cid:1)(cid:48)(cid:71)fice(cid:83)(cid:1)
Alecia Bland
Senior Vice President
Regional Board of Directors
Austin Elsner
Chairman, President and CEO
Cathy Altman
Attorney
Carrington Coleman, LLP
Ray Beavers
Retired
General Manager and CEO
United Cooperative Services
Stacey Sloan
Senior Vice President
Kim Hamilton
Senior Vice President
John Knight
Senior Vice President
John Saenz
Senior Vice President
Chris Schjetnan
Senior Vice President
Ronald D. Butler II
First Financial Bankshares, Inc.
Robert Childress III
Childress Engineers
Mark Hill
Utility Construction Consultant
Tim Lyness
Lyness Construction, LP
Jack Scott
Bell-Scott Insurance Group
Cleburne Region | Annual Report 2021 | 19
3/14/2022 2:00:41 PM
MAIN OFFICE
1716 Briarcrest Dr. Ste 400
Bryan, TX 77802 | 979.260.2100
Senior Officers
Timothy N. Bryan
Chairman
Nora Thompson
President and CEO
Jerry E. Fox
Executive Vice President
(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:48)(cid:81)e(cid:83)a(cid:85)i(cid:80)n(cid:84)(cid:1)(cid:48)(cid:71)fice(cid:83)
Timothy N. Bryan
Chairman of the Board
Nora Thompson
President and CEO
Brian Barrett
President Kurten Farms, Ltd.
R. Sid Cauthorn
Westex Bancorp
Ronnie L. Craig
Thompson, Derrig & Craig CPAs
Regional Board of Directors
Bryan/College Station Region | Annual Report 2021 | 18
FFIN2021-AnnualReport-Updated.indd 18-19
CONROE REGION
Conroe | Montgomery | Magnolia | Willis | Tomball | Cut and Shoot
Huntsville | New Waverly | Spring
Sam W. Baker
Chairman
Chris Baughman
President and CEO
The Conroe Region continued to excel in 2021 with strong loan,
deposit and account growth. In these unprecedented times, our
team continues to adapt to the challenges in front of them, while
keeping these changes transparent to the customer. Thanks
to our high level of customer service and branch availability,
deposits surged over $130 million in 2021 and the region’s
account base increased by over 10 percent. We loaned over
$350 million in Montgomery and Walker counties and served our
customers with additional PPP loans to assist in keeping their
businesses open and preserving jobs. Our dedicated team is the
reason for our continued growth and outstanding performance.
(cid:42)(cid:1)a(cid:78)(cid:1)(cid:87)e(cid:83)(cid:90)(cid:1)(cid:81)(cid:83)(cid:80)(cid:86)(cid:69)(cid:1)(cid:80)(cid:71)(cid:1)(cid:80)(cid:86)(cid:83)(cid:1)b(cid:80)a(cid:83)(cid:69)(cid:1)(cid:80)(cid:71)(cid:1)(cid:69)i(cid:83)ec(cid:85)(cid:80)(cid:83)(cid:84)(cid:13)(cid:1)(cid:80)(cid:71)fice(cid:83)(cid:84)(cid:1)an(cid:69)(cid:1)(cid:84)(cid:85)a(cid:71)(cid:71)(cid:15)(cid:1)(cid:53)(cid:73)e(cid:90)(cid:1)
understand the reason for our success is our customers. We put
our customers FIRST.
MAIN OFFICE
1800 W. White Oak Terrace
Conroe, TX 77304 | 936.760.1888
s
We had a wonderful year for the Fort Worth Region in 2021. It will
be hard to forget, because so many of the challenges from 2020
were still in place, but it was also a year of new opportunities. Fort
Worth became the 12th largest city in the country as a result of
rapid population growth and corporate relocations to our area. The
increasing business activity created opportunities for promotions
and new hires to join our growing team, which delivered the region’s
best year-to-date. Aside from all the new loans and deposits we
gained, the most meaningful and exciting pieces were the new
relationships we formed. These new relationships across the city
remain the foundation of our success and identity. While banking
can be different in a metro market versus a rural town, the one
constant that always wins is pursuing excellence. Taking care of
our business, team members and community never changes. I
am proud of everything we accomplished in 2021, but even more
excited about the opportunities ahead of us.
FORT WORTH REGION
Marcus Morris
President and CEO
MAIN OFFICE
1000 Forest Park Blvd.
Fort Worth, TX 76110 | 817.410.4970
IN THOUSANDS
ASSETS
LOANS
DEPOSITS
NET INCOME
RETURN ON AVG. ASSETS
EFFICIENCY RATIO
IN THOUSANDS
ASSETS
LOANS
NET INCOME
RETURN ON AVG. ASSETS
EFFICIENCY RATIO
Dec. 31, 2020
$795,138
$541,651
$653,905
Dec. 31, 2021
$933,289
$533,594
$784,815
$14,601
$16,948
1.96%
1.91%
49.88%
49.29%
Dec. 31, 2020
$219,495
$209,733
Dec. 31, 2021
$255,963
$247,161
$134,730
$2,561
$4,185
1.28%
1.69%
49.88%
43.82%
DEPOSITS
$84,960
Senior Officers
Sam W. Baker
Chairman
Chris Baughman
President and CEO
Lee Warren
Executive Vice President
(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:48)(cid:81)e(cid:83)a(cid:85)i(cid:80)n(cid:84)(cid:1)(cid:48)(cid:71)fice(cid:83)
(cid:40)(cid:15) (cid:35)art (cid:40)riffith
Executive Vice President
Senior Lender
Michelle Murray
Executive Vice President
Treasury Management
Guy Barker
Senior Vice President
Bobby Brennan
Senior Vice President
Mortgage Lending
Terry Doak
Senior Vice President
Candy Emmerich
Senior Vice President
Carissa Parker
Senior Vice President
Cody Sundbeck
Senior Vice President
Kyle Whisenhunt
Senior Vice President
Regional Board of Directors
Sam W. Baker
Chairman
Chris Baughman
President and CEO
Donnie Buckalew
Buckalew Chevrolet
Shelley Dacus
President and CEO
Kingwood Region
Conroe Region | Annual Report 2021 | 20
FFIN2021-AnnualReport-Updated.indd 20-21
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
James R. Gordon
First Financial Bankshares, Inc.
Curtis Montgomery, M.D.
Physician
Robert Pate
Retired President
First Financial Bank, Huntsville
Johnny Peet Jr., M.D.
Physician
Randy Roan
Commercial Construction
John Sebastian
Conroe Golf Cars
Senior Officers
Marcus Morris
President and CEO
Carley Dyck
Executive Vice President
(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:48)(cid:81)e(cid:83)a(cid:85)i(cid:80)n(cid:84)(cid:1)(cid:48)(cid:71)fice(cid:83)
Vianei Lopez Braun
Chair of the Board
(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:37)e(cid:87)el(cid:80)(cid:81)(cid:78)en(cid:85)(cid:1)(cid:48)(cid:71)fice(cid:83)
Decker Jones, P.C.
Marcus Morris
President and CEO
(cid:45)arr(cid:90) Anfin
Past CEO
Coors Distributing of Fort Worth
Regional Board of Directors
Matthew Sylvia
Executive Vice President
Hesper Derrick
Senior Vice President
Pamela Terry
Senior Vice President
Craig Zemarkowitz
Senior Vice President
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.
Murray Edwards
Principal, The Edwards Group
Nancy Jones
Past President and CEO
North Texas Community Foundation
Matt Morris
Area President
HUB Fort Worth/Gus Bates Area Insurance
Fort Worth Region | Annual Report 2021 | 21
3/14/2022 2:00:43 PM
CONROE REGION
Conroe | Montgomery | Magnolia | Willis | Tomball | Cut and Shoot
Huntsville | New Waverly | Spring
Sam W. Baker
Chairman
The Conroe Region continued to excel in 2021 with strong loan,
deposit and account growth. In these unprecedented times, our
team continues to adapt to the challenges in front of them, while
keeping these changes transparent to the customer. Thanks
to our high level of customer service and branch availability,
deposits surged over $130 million in 2021 and the region’s
account base increased by over 10 percent. We loaned over
$350 million in Montgomery and Walker counties and served our
customers with additional PPP loans to assist in keeping their
businesses open and preserving jobs. Our dedicated team is the
reason for our continued growth and outstanding performance.
(cid:42)(cid:1)a(cid:78)(cid:1)(cid:87)e(cid:83)(cid:90)(cid:1)(cid:81)(cid:83)(cid:80)(cid:86)(cid:69)(cid:1)(cid:80)(cid:71)(cid:1)(cid:80)(cid:86)(cid:83)(cid:1)b(cid:80)a(cid:83)(cid:69)(cid:1)(cid:80)(cid:71)(cid:1)(cid:69)i(cid:83)ec(cid:85)(cid:80)(cid:83)(cid:84)(cid:13)(cid:1)(cid:80)(cid:71)fice(cid:83)(cid:84)(cid:1)an(cid:69)(cid:1)(cid:84)(cid:85)a(cid:71)(cid:71)(cid:15)(cid:1)(cid:53)(cid:73)e(cid:90)(cid:1)
understand the reason for our success is our customers. We put
Chris Baughman
President and CEO
our customers FIRST.
We had a wonderful year for the Fort Worth Region in 2021. It will
be hard to forget, because so many of the challenges from 2020
were still in place, but it was also a year of new opportunities. Fort
Worth became the 12th largest city in the country as a result of
rapid population growth and corporate relocations to our area. The
increasing business activity created opportunities for promotions
and new hires to join our growing team, which delivered the region’s
best year-to-date. Aside from all the new loans and deposits we
gained, the most meaningful and exciting pieces were the new
relationships we formed. These new relationships across the city
remain the foundation of our success and identity. While banking
can be different in a metro market versus a rural town, the one
constant that always wins is pursuing excellence. Taking care of
our business, team members and community never changes. I
am proud of everything we accomplished in 2021, but even more
excited about the opportunities ahead of us.
FORT WORTH REGION
Marcus Morris
President and CEO
MAIN OFFICE
1000 Forest Park Blvd.
Fort Worth, TX 76110 | 817.410.4970
IN THOUSANDS
ASSETS
LOANS
DEPOSITS
NET INCOME
RETURN ON AVG. ASSETS
EFFICIENCY RATIO
IN THOUSANDS
ASSETS
LOANS
Dec. 31, 2020
$219,495
$209,733
DEPOSITS
$84,960
Dec. 31, 2021
$255,963
$247,161
$134,730
Dec. 31, 2020
$795,138
$541,651
$653,905
Dec. 31, 2021
$933,289
$533,594
$784,815
$14,601
$16,948
1.96%
1.91%
49.88%
49.29%
NET INCOME
RETURN ON AVG. ASSETS
EFFICIENCY RATIO
$2,561
$4,185
1.28%
1.69%
49.88%
43.82%
(cid:40)(cid:15) (cid:35)art (cid:40)riffith
Executive Vice President
Senior Lender
Michelle Murray
Executive Vice President
Treasury Management
Guy Barker
Senior Vice President
Bobby Brennan
Senior Vice President
Mortgage Lending
Terry Doak
Senior Vice President
Candy Emmerich
Senior Vice President
Carissa Parker
Senior Vice President
Cody Sundbeck
Senior Vice President
Kyle Whisenhunt
Senior Vice President
Senior Officers
Marcus Morris
President and CEO
Carley Dyck
Executive Vice President
(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:48)(cid:81)e(cid:83)a(cid:85)i(cid:80)n(cid:84)(cid:1)(cid:48)(cid:71)fice(cid:83)
Matthew Sylvia
Executive Vice President
Hesper Derrick
Senior Vice President
Pamela Terry
Senior Vice President
Craig Zemarkowitz
Senior Vice President
Chris deMilliano
Operations Manager
Steely Lumber Company
Candyce F. Dixon
CPA
Dan Dominey
DBD Interests
Robert C. Ernst Jr.
Owner
Ernst Jewelers
James R. Gordon
First Financial Bankshares, Inc.
Curtis Montgomery, M.D.
Physician
Johnny Peet Jr., M.D.
Physician
Randy Roan
Commercial Construction
John Sebastian
Conroe Golf Cars
F. Scott Dueser
First Financial Bankshares, Inc.
Robert Pate
Retired President
First Financial Bank, Huntsville
Regional Board of Directors
Vianei Lopez Braun
Chair of the Board
(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:37)e(cid:87)el(cid:80)(cid:81)(cid:78)en(cid:85)(cid:1)(cid:48)(cid:71)fice(cid:83)
Decker Jones, P.C.
Marcus Morris
President and CEO
(cid:45)arr(cid:90) 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.
Murray Edwards
Principal, The Edwards Group
Nancy Jones
Past President and CEO
North Texas Community Foundation
Matt Morris
Area President
HUB Fort Worth/Gus Bates Area Insurance
Fort Worth Region | Annual Report 2021 | 21
3/14/2022 2:00:43 PM
MAIN OFFICE
1800 W. White Oak Terrace
Conroe, TX 77304 | 936.760.1888
Regional Board of Directors
Senior Officers
Sam W. Baker
Chairman
Chris Baughman
President and CEO
Lee Warren
Executive Vice President
(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:48)(cid:81)e(cid:83)a(cid:85)i(cid:80)n(cid:84)(cid:1)(cid:48)(cid:71)fice(cid:83)
Sam W. Baker
Chairman
Chris Baughman
President and CEO
Donnie Buckalew
Buckalew Chevrolet
Shelley Dacus
President and CEO
Kingwood Region
Conroe Region | Annual Report 2021 | 20
FFIN2021-AnnualReport-Updated.indd 20-21
HEREFORD REGION
Robert de la Cruz
Chairman, President and CEO
MAIN OFFICE
212 E. Third St.
Hereford, TX 79045 | 806.363.8200
As we look back on 2021, we are grateful for our customers,
employees and the community whom we serve each day in the
Hereford Region. Our team once again met the opportunities
presented to us as we offered another round of PPP loans to
ensure our customers received the necessary assistance to
maintain their businesses and keep their workers employed. Even
with the forgiveness of $15 million in government loans from the
Small Business Administration, our region was able to produce a
strong core loan volume. We are looking forward to carrying this
momentum throughout 2022, which will be supported by the hiring
of additional staff. With these new hires, we will be able to expand
our services to better serve our current and future customers.
We are constantly looking at areas to help our customers and
community, whether it be in making the right hires or investing
in new technology. Our region is experiencing growth with our
local businesses expanding and our new housing development.
Our dedicated team of professional bankers is here to meet our
community’s needs. We want to thank Bobby Fite, Regional
Consumer Manager, for his 12 years of service to First Financial
Bank. We wish him well on his retirement later this year.
Through the challenges of the last two years, the Kingwood Region,
the bank and the businesses we serve showed the strength,
determination and resiliency of our teams and communities to
thrive in times of change. The Kingwood Region posted record
growth in loans, deposits and new account generation. We attribute
e(cid:89)ce(cid:81)(cid:85)i(cid:80)nal(cid:1)(cid:72)(cid:83)(cid:80)(cid:88)(cid:85)(cid:73)(cid:1)(cid:85)(cid:80)(cid:1)(cid:78)an(cid:90)(cid:1)(cid:71)ac(cid:85)(cid:80)(cid:83)(cid:84)(cid:27)(cid:1)(cid:1)fi(cid:83)(cid:84)(cid:85)(cid:1)an(cid:69)(cid:1)(cid:71)(cid:80)(cid:83)e(cid:78)(cid:80)(cid:84)(cid:85)(cid:13)(cid:1)(cid:85)(cid:73)e(cid:1)(cid:84)(cid:85)(cid:83)en(cid:72)(cid:85)(cid:73)(cid:1)
(cid:80)(cid:71)(cid:1)(cid:80)(cid:86)(cid:83)(cid:1)(cid:85)ea(cid:78)(cid:1)lea(cid:69)in(cid:72)(cid:1)(cid:88)i(cid:85)(cid:73)(cid:1)(cid:85)(cid:73)e(cid:1)(cid:78)i(cid:84)(cid:84)i(cid:80)n(cid:1)(cid:85)(cid:80)(cid:1)(cid:81)(cid:83)(cid:80)(cid:87)i(cid:69)e(cid:1)fi(cid:83)(cid:84)(cid:85)(cid:14)cla(cid:84)(cid:84)(cid:1)(cid:84)e(cid:83)(cid:87)ice(cid:15)(cid:1)
Loyal relationships, referral sources, investors and the strength of
our local boards are vital. The ability to serve our communities with
another round of PPP loans was tremendous. With a full range of
products and services – mortgage, trust and wealth management,
commercial, consumer, construction and treasury management, we
serve all needs. First Financial Bank has proven its ability to lead
and thrive. We are honored to serve our loyal customers and are
focused on providing them excellence in customer service.
KINGWOOD REGION
Kingwood | El Campo | Fulshear | Palacios
Shelley Dacus
President and CEO
MAIN OFFICE
24080 Hwy 59 N.
Kingwood, TX 77339 | 281.318.4600
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, 2020
$254,633
$152,815
$217,936
Dec. 31, 2021
$210,063
$146,335
$168,351
$4,454
$3,453
1.69%
1.46%
34.32%
43.38%
Dec. 31, 2020
$540,087
$441,891
$459,388
$9,789
Dec. 31, 2021
$602,143
$471,775
$509,596
$12,246
1.92%
2.13%
43.29%
40.40%
Senior Officers
Robert de la Cruz
Chairman, President and CEO
Carley Dyck
Executive Vice President
(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:48)(cid:81)e(cid:83)a(cid:85)i(cid:80)n(cid:84)(cid:1)(cid:48)(cid:71)fice(cid:83)(cid:1)
Regional Board of Directors
Robert de la Cruz
Chairman, President and CEO
Ronald D. Butler II
First Financial Bankshares, Inc.
Steve Lewis, D.V.M.
Consulting Veterinarian
Hereford Veterinary Clinic
Mike Mauldin
Associate Professor of Practice
Rawls College of Business
Texas Tech University
Hereford Region | Annual Report 2021 | 22
FFIN2021-AnnualReport-Updated.indd 22-23
Tim Laws
Executive Vice President
(cid:52)eni(cid:80)(cid:83)(cid:1)(cid:45)en(cid:69)in(cid:72)(cid:1)(cid:48)(cid:71)fice(cid:83)
Kade Matthews
Ranching and Investments
Sally Noyce
Human Resources Manager
Panhandle Express, LLC
Jerry Stevens
Owner, Stevens 5-Star
Car and Truck Center
Johnny E. Trotter
President and CEO
Livestock Investors, Ltd.
Regional Board of Directors
Senior Officers
Shelley Dacus
President and CEO
James Alexander
Executive Vice President
(cid:52)eni(cid:80)(cid:83)(cid:1)(cid:45)en(cid:69)in(cid:72)(cid:1)(cid:48)(cid:71)fice(cid:83)
Brian Bonner
Executive Vice President
Real Estate Lending
Robert C. Nickles Jr.
Chairman of the Board
Executive Chairman
Alegacy Group, LLC
Sam Baker
Chairman and CEO
Conroe Region
Shelley Dacus
President and CEO
Kingwood Region
F. Scott Dueser
First Financial Bankshares, Inc.
Jeff Fuechec
Executive Vice President
Market President, El Campo
Lee Warren
Executive Vice President
(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:48)(cid:81)e(cid:83)a(cid:85)i(cid:80)n(cid:84)(cid:1)(cid:48)(cid:71)fice(cid:83)(cid:1)
Michael Gonzalez
Principal
The Gonzalez Group
James R. Gordon
First Financial Bankshares, Inc.
Kenny Isbell
President
Apache Oil Company
Angela Leviner
President
The Forest Collection, Inc.
Brandon Zabodyn
Executive Vice President
Nancy Powell
Senior Vice President
Anita Rod
Senior Vice President
Adam McAlpine
Owner and President
McAlpine Interests
Blake Poutra
CEO
Phennics
Rebekah Shipman
President & CEO
Reservoir Data Systems
Kingwood Region | Annual Report 2021 | 23
3/14/2022 2:00:44 PM
HEREFORD REGION
As we look back on 2021, we are grateful for our customers,
employees and the community whom we serve each day in the
Hereford Region. Our team once again met the opportunities
presented to us as we offered another round of PPP loans to
ensure our customers received the necessary assistance to
maintain their businesses and keep their workers employed. Even
with the forgiveness of $15 million in government loans from the
Small Business Administration, our region was able to produce a
strong core loan volume. We are looking forward to carrying this
momentum throughout 2022, which will be supported by the hiring
of additional staff. With these new hires, we will be able to expand
our services to better serve our current and future customers.
We are constantly looking at areas to help our customers and
community, whether it be in making the right hires or investing
in new technology. Our region is experiencing growth with our
local businesses expanding and our new housing development.
Our dedicated team of professional bankers is here to meet our
community’s needs. We want to thank Bobby Fite, Regional
Consumer Manager, for his 12 years of service to First Financial
Bank. We wish him well on his retirement later this year.
Through the challenges of the last two years, the Kingwood Region,
the bank and the businesses we serve showed the strength,
determination and resiliency of our teams and communities to
thrive in times of change. The Kingwood Region posted record
growth in loans, deposits and new account generation. We attribute
e(cid:89)ce(cid:81)(cid:85)i(cid:80)nal(cid:1)(cid:72)(cid:83)(cid:80)(cid:88)(cid:85)(cid:73)(cid:1)(cid:85)(cid:80)(cid:1)(cid:78)an(cid:90)(cid:1)(cid:71)ac(cid:85)(cid:80)(cid:83)(cid:84)(cid:27)(cid:1)(cid:1)fi(cid:83)(cid:84)(cid:85)(cid:1)an(cid:69)(cid:1)(cid:71)(cid:80)(cid:83)e(cid:78)(cid:80)(cid:84)(cid:85)(cid:13)(cid:1)(cid:85)(cid:73)e(cid:1)(cid:84)(cid:85)(cid:83)en(cid:72)(cid:85)(cid:73)(cid:1)
(cid:80)(cid:71)(cid:1)(cid:80)(cid:86)(cid:83)(cid:1)(cid:85)ea(cid:78)(cid:1)lea(cid:69)in(cid:72)(cid:1)(cid:88)i(cid:85)(cid:73)(cid:1)(cid:85)(cid:73)e(cid:1)(cid:78)i(cid:84)(cid:84)i(cid:80)n(cid:1)(cid:85)(cid:80)(cid:1)(cid:81)(cid:83)(cid:80)(cid:87)i(cid:69)e(cid:1)fi(cid:83)(cid:84)(cid:85)(cid:14)cla(cid:84)(cid:84)(cid:1)(cid:84)e(cid:83)(cid:87)ice(cid:15)(cid:1)
Loyal relationships, referral sources, investors and the strength of
our local boards are vital. The ability to serve our communities with
another round of PPP loans was tremendous. With a full range of
products and services – mortgage, trust and wealth management,
commercial, consumer, construction and treasury management, we
serve all needs. First Financial Bank has proven its ability to lead
and thrive. We are honored to serve our loyal customers and are
focused on providing them excellence in customer service.
KINGWOOD REGION
Kingwood | El Campo | Fulshear | Palacios
Shelley Dacus
President and CEO
MAIN OFFICE
24080 Hwy 59 N.
Kingwood, TX 77339 | 281.318.4600
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, 2020
$254,633
$152,815
$217,936
Dec. 31, 2021
$210,063
$146,335
$168,351
$4,454
$3,453
1.69%
1.46%
34.32%
43.38%
Dec. 31, 2020
$540,087
$441,891
$459,388
$9,789
Dec. 31, 2021
$602,143
$471,775
$509,596
$12,246
1.92%
2.13%
43.29%
40.40%
Senior Officers
Shelley Dacus
President and CEO
James Alexander
Executive Vice President
(cid:52)eni(cid:80)(cid:83)(cid:1)(cid:45)en(cid:69)in(cid:72)(cid:1)(cid:48)(cid:71)fice(cid:83)
Brian Bonner
Executive Vice President
Real Estate Lending
Regional Board of Directors
Robert C. Nickles Jr.
Chairman of the Board
Executive Chairman
Alegacy Group, LLC
Sam Baker
Chairman and CEO
Conroe Region
Shelley Dacus
President and CEO
Kingwood Region
F. Scott Dueser
First Financial Bankshares, Inc.
Jeff Fuechec
Executive Vice President
Market President, El Campo
Lee Warren
Executive Vice President
(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:48)(cid:81)e(cid:83)a(cid:85)i(cid:80)n(cid:84)(cid:1)(cid:48)(cid:71)fice(cid:83)(cid:1)
Michael Gonzalez
Principal
The Gonzalez Group
James R. Gordon
First Financial Bankshares, Inc.
Kenny Isbell
President
Apache Oil Company
Angela Leviner
President
The Forest Collection, Inc.
Brandon Zabodyn
Executive Vice President
Nancy Powell
Senior Vice President
Anita Rod
Senior Vice President
Adam McAlpine
Owner and President
McAlpine Interests
Blake Poutra
CEO
Phennics
Rebekah Shipman
President & CEO
Reservoir Data Systems
Kingwood Region | Annual Report 2021 | 23
3/14/2022 2:00:44 PM
Robert de la Cruz
Chairman, President and CEO
MAIN OFFICE
212 E. Third St.
Hereford, TX 79045 | 806.363.8200
Senior Officers
Robert de la Cruz
Chairman, President and CEO
Carley Dyck
Executive Vice President
(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:48)(cid:81)e(cid:83)a(cid:85)i(cid:80)n(cid:84)(cid:1)(cid:48)(cid:71)fice(cid:83)(cid:1)
Robert de la Cruz
Chairman, President and CEO
Ronald D. Butler II
First Financial Bankshares, Inc.
Steve Lewis, D.V.M.
Consulting Veterinarian
Hereford Veterinary Clinic
Mike Mauldin
Associate Professor of Practice
Rawls College of Business
Texas Tech University
Hereford Region | Annual Report 2021 | 22
FFIN2021-AnnualReport-Updated.indd 22-23
Regional Board of Directors
Tim Laws
Executive Vice President
(cid:52)eni(cid:80)(cid:83)(cid:1)(cid:45)en(cid:69)in(cid:72)(cid:1)(cid:48)(cid:71)fice(cid:83)
Kade Matthews
Ranching and Investments
Sally Noyce
Human Resources Manager
Panhandle Express, LLC
Jerry Stevens
Owner, Stevens 5-Star
Car and Truck Center
Johnny E. Trotter
President and CEO
Livestock Investors, Ltd.
SAN ANGELO REGION
Chris Evatt
Chairman, President and CEO
MAIN OFFICE
222 S. Koenigheim
San Angelo, TX 76903 | 325.659.5900
Our team of dedicated and professional bankers again rose to the
opportunity and achieved another record-setting year. A second
round of PPP loans and continued record low interest rates kept
both our in-house and secondary market lenders busy. We are also
(cid:81)(cid:83)(cid:80)(cid:86)(cid:69)(cid:1)(cid:85)(cid:73)a(cid:85)(cid:1)(cid:80)(cid:86)(cid:83)(cid:1)l(cid:80)bbie(cid:84)(cid:1)(cid:83)e(cid:78)aine(cid:69)(cid:1)(cid:80)(cid:81)en(cid:13)(cid:1)(cid:88)(cid:73)ic(cid:73)(cid:1)(cid:81)(cid:83)(cid:80)(cid:87)e(cid:69)(cid:1)(cid:85)(cid:80)(cid:1)be(cid:1)beneficial(cid:1)
as more customers chose First Financial Bank over other banks.
This grew our total assets to over $1 billion and generated another
year of increased earnings. All of this could not have been achieved
without our commitment to our customers and our excellent team
of bankers. Our team stands ready to put You First!
We are genuinely humbled by the incredible efforts and focus that
paved the way to another record year in 2021 for our Southeast Texas
Region. The year included many ongoing challenges with COVID
and disaster recovery efforts following the impact of unprecedented
weather events. Driven by our collective commitment to service
excellence, our team established incredible momentum throughout
the year. Our lending team delivered an additional $45 million in PPP
loans to support Southeast Texas businesses and a record-setting
$350 million in traditional loans. Deposit growth remained robust and
our board agreed to expand our regional presence by adding a new
branch in Lumberton, which is the fastest growing city in our region.
We expect our new branch to give us incremental growth opportunities
for years to come. We are thrilled with our operating results in 2021,
but even more excited about the momentum we are creating, and
thankful to our customers for allowing us the opportunity to serve
their banking needs.
SOUTHEAST TEXAS REGION
Orange | Vidor | Mauriceville | Newton | Port Arthur | Beaumont
Stephen Lee
Chairman, President and CEO
MAIN OFFICE
912 N. 16th St.
Orange, TX 77630 | 800.300.8904
IN THOUSANDS
ASSETS
LOANS
DEPOSITS
NET INCOME
RETURN ON AVG. ASSETS
EFFICIENCY RATIO
Dec. 31, 2020
$958,463
$240,673
$851,936
Dec. 31, 2021
$1,026,980
$247,637
$908,349
$18,447
$19,186
1.98%
1.85%
33.03%
36.94%
IN THOUSANDS
ASSETS
LOANS
DEPOSITS
NET INCOME
RETURN ON AVG. ASSETS
EFFICIENCY RATIO
Dec. 31, 2020
$845,668
$543,626
$728,210
Dec. 31, 2021
$944,803
$514,824
$817,408
$16,168
$19,427
2.15%
2.14%
40.18%
41.41%
Senior Officers
Chris Evatt
Chairman, President and CEO
Cindy Robbins
Executive Vice President
(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:48)(cid:81)e(cid:83)a(cid:85)i(cid:80)n(cid:84)(cid:1)(cid:48)(cid:71)fice(cid:83)
Lindy Jordan
Executive Vice President
(cid:52)eni(cid:80)(cid:83)(cid:1)(cid:45)en(cid:69)in(cid:72)(cid:1)(cid:48)(cid:71)fice(cid:83)
Regional Board of Directors
Chris Evatt
Chairman, President and CEO
Ronald D. Butler II
First Financial Bankshares, Inc.
Steve Eustis
Commercial Real Estate
Ronnie Hawkins
President, Angelo State University
CEO, Hawkins Group
San Angelo Region | Annual Report 2021 | 24
FFIN2021-AnnualReport-Updated.indd 24-25
Edward Carrasco
Senior Vice President
Wes Masters
Senior Vice President
Spencer Murphy
Senior Vice President
Reba Priddy
Senior Vice President
Luke Uherik
Senior Vice President
Mary Jane Steadman
Attorney, Real Estate Investment
Management
David F. Lupton
President
Angelo Glass & Mirror Company, Inc.
Reagon Noble, D.D.S., M.S.
Noble McClintock Orthodontics
Carlos Rodriguez
Attorney
Webb, Stokes and Sparks
Senior Officers
Stephen Lee
Chairman, President and CEO
Joe Love
Executive Vice President
(cid:52)eni(cid:80)(cid:83)(cid:1)(cid:45)en(cid:69)in(cid:72)(cid:1)(cid:48)(cid:71)fice(cid:83)
Blaine Caillier
Senior Vice President
Market President, Mid County
Stephen Lee
Chairman, President and CEO
Ronald D. Butler II
First Financial Bankshares, Inc.
Dr. Ray Callas
Managing Partner
Anesthesia Associates, PLLC
Len Forey
Retired Managing Partner
Higginbotham Insurance
Regional Board of Directors
Will Leonard
Executive Vice President
Market President, Jefferson County
Kim Dickerson
Senior Vice President
(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:48)(cid:81)e(cid:83)a(cid:85)i(cid:80)n(cid:84)(cid:1)(cid:48)(cid:71)fice(cid:83)(cid:1)
Cindi LaChance
Senior Vice President
(cid:52)eni(cid:80)(cid:83)(cid:1)(cid:46)(cid:80)(cid:83)(cid:85)(cid:72)a(cid:72)e(cid:1)(cid:45)(cid:80)an(cid:1)(cid:48)(cid:71)fice(cid:83)
Michael Poutra
Retired Owner
Dominion Forms
Dayna Simmons
CEO/Broker
Dayna Simmons Real Estate
Kevin Williams
President, Cypress Bayou Industrial
Owner, American Industrial Minerals, Inc.
Jim Wimberley
Owner
(cid:45)a(cid:88)(cid:1)(cid:48)(cid:71)fice(cid:84)(cid:1)(cid:80)(cid:71)(cid:1)(cid:43)i(cid:78)(cid:1)(cid:56)i(cid:78)be(cid:83)le(cid:90)
Curt Leger
Senior Vice President
Commercial Lender
Lani White
Senior Vice President
Senior Consumer Lender
Connie Browning
Senior Vice President
Commercial Lender
Dr. Snehal Doshi
CEO
Millennium Medical Group
Chad Mason
Vice President
Mason Construction
Jim Gilliam
Partner and Chairman,
The HT Group
Owner and CEO, Bates & Co.
Southeast Texas Region | Annual Report 2021 | 25
3/14/2022 2:00:45 PM
SAN ANGELO REGION
Our team of dedicated and professional bankers again rose to the
opportunity and achieved another record-setting year. A second
round of PPP loans and continued record low interest rates kept
both our in-house and secondary market lenders busy. We are also
(cid:81)(cid:83)(cid:80)(cid:86)(cid:69)(cid:1)(cid:85)(cid:73)a(cid:85)(cid:1)(cid:80)(cid:86)(cid:83)(cid:1)l(cid:80)bbie(cid:84)(cid:1)(cid:83)e(cid:78)aine(cid:69)(cid:1)(cid:80)(cid:81)en(cid:13)(cid:1)(cid:88)(cid:73)ic(cid:73)(cid:1)(cid:81)(cid:83)(cid:80)(cid:87)e(cid:69)(cid:1)(cid:85)(cid:80)(cid:1)be(cid:1)beneficial(cid:1)
as more customers chose First Financial Bank over other banks.
This grew our total assets to over $1 billion and generated another
year of increased earnings. All of this could not have been achieved
without our commitment to our customers and our excellent team
of bankers. Our team stands ready to put You First!
We are genuinely humbled by the incredible efforts and focus that
paved the way to another record year in 2021 for our Southeast Texas
Region. The year included many ongoing challenges with COVID
and disaster recovery efforts following the impact of unprecedented
weather events. Driven by our collective commitment to service
excellence, our team established incredible momentum throughout
the year. Our lending team delivered an additional $45 million in PPP
loans to support Southeast Texas businesses and a record-setting
$350 million in traditional loans. Deposit growth remained robust and
our board agreed to expand our regional presence by adding a new
branch in Lumberton, which is the fastest growing city in our region.
We expect our new branch to give us incremental growth opportunities
for years to come. We are thrilled with our operating results in 2021,
but even more excited about the momentum we are creating, and
thankful to our customers for allowing us the opportunity to serve
their banking needs.
SOUTHEAST TEXAS REGION
Orange | Vidor | Mauriceville | Newton | Port Arthur | Beaumont
Stephen Lee
Chairman, President and CEO
MAIN OFFICE
912 N. 16th St.
Orange, TX 77630 | 800.300.8904
IN THOUSANDS
ASSETS
LOANS
DEPOSITS
NET INCOME
RETURN ON AVG. ASSETS
EFFICIENCY RATIO
Dec. 31, 2020
$958,463
$240,673
$851,936
Dec. 31, 2021
$1,026,980
$247,637
$908,349
$18,447
$19,186
1.98%
1.85%
33.03%
36.94%
IN THOUSANDS
ASSETS
LOANS
DEPOSITS
NET INCOME
RETURN ON AVG. ASSETS
EFFICIENCY RATIO
Dec. 31, 2020
$845,668
$543,626
$728,210
Dec. 31, 2021
$944,803
$514,824
$817,408
$16,168
$19,427
2.15%
2.14%
40.18%
41.41%
Edward Carrasco
Senior Vice President
Wes Masters
Senior Vice President
Spencer Murphy
Senior Vice President
Reba Priddy
Senior Vice President
Luke Uherik
Senior Vice President
David F. Lupton
President
Mary Jane Steadman
Attorney, Real Estate Investment
Angelo Glass & Mirror Company, Inc.
Management
Reagon Noble, D.D.S., M.S.
Noble McClintock Orthodontics
Carlos Rodriguez
Attorney
Webb, Stokes and Sparks
Senior Officers
Stephen Lee
Chairman, President and CEO
Joe Love
Executive Vice President
(cid:52)eni(cid:80)(cid:83)(cid:1)(cid:45)en(cid:69)in(cid:72)(cid:1)(cid:48)(cid:71)fice(cid:83)
Blaine Caillier
Senior Vice President
Market President, Mid County
Regional Board of Directors
Stephen Lee
Chairman, President and CEO
Ronald D. Butler II
First Financial Bankshares, Inc.
Dr. Ray Callas
Managing Partner
Anesthesia Associates, PLLC
Len Forey
Retired Managing Partner
Higginbotham Insurance
Will Leonard
Executive Vice President
Market President, Jefferson County
Kim Dickerson
Senior Vice President
(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:48)(cid:81)e(cid:83)a(cid:85)i(cid:80)n(cid:84)(cid:1)(cid:48)(cid:71)fice(cid:83)(cid:1)
Cindi LaChance
Senior Vice President
(cid:52)eni(cid:80)(cid:83)(cid:1)(cid:46)(cid:80)(cid:83)(cid:85)(cid:72)a(cid:72)e(cid:1)(cid:45)(cid:80)an(cid:1)(cid:48)(cid:71)fice(cid:83)
Michael Poutra
Retired Owner
Dominion Forms
Dayna Simmons
CEO/Broker
Dayna Simmons Real Estate
Kevin Williams
President, Cypress Bayou Industrial
Owner, American Industrial Minerals, Inc.
Jim Wimberley
Owner
(cid:45)a(cid:88)(cid:1)(cid:48)(cid:71)fice(cid:84)(cid:1)(cid:80)(cid:71)(cid:1)(cid:43)i(cid:78)(cid:1)(cid:56)i(cid:78)be(cid:83)le(cid:90)
Curt Leger
Senior Vice President
Commercial Lender
Lani White
Senior Vice President
Senior Consumer Lender
Connie Browning
Senior Vice President
Commercial Lender
Dr. Snehal Doshi
CEO
Millennium Medical Group
Chad Mason
Vice President
Mason Construction
Jim Gilliam
Partner and Chairman,
The HT Group
Owner and CEO, Bates & Co.
Southeast Texas Region | Annual Report 2021 | 25
3/14/2022 2:00:45 PM
Chris Evatt
Chairman, President and CEO
MAIN OFFICE
222 S. Koenigheim
San Angelo, TX 76903 | 325.659.5900
Senior Officers
Chris Evatt
Chairman, President and CEO
Cindy Robbins
Executive Vice President
(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:48)(cid:81)e(cid:83)a(cid:85)i(cid:80)n(cid:84)(cid:1)(cid:48)(cid:71)fice(cid:83)
Lindy Jordan
Executive Vice President
(cid:52)eni(cid:80)(cid:83)(cid:1)(cid:45)en(cid:69)in(cid:72)(cid:1)(cid:48)(cid:71)fice(cid:83)
Regional Board of Directors
Chris Evatt
Chairman, President and CEO
Ronald D. Butler II
First Financial Bankshares, Inc.
Steve Eustis
Commercial Real Estate
Ronnie Hawkins
President, Angelo State University
CEO, Hawkins Group
San Angelo Region | Annual Report 2021 | 24
FFIN2021-AnnualReport-Updated.indd 24-25
SOUTHLAKE REGION
Southlake | Trophy Club | Keller | Bridgeport | Boyd
|
Decatur | Grapevine
| Grapevine
Decatur | Grapevine
Mark L. Jones
Chairman
Shelby Bruhn
President and CEO
MAIN OFFICE
MAIN OFFICE
151 W. Southlake Blvd.
151 W. Southlake Blvd.
Southlake, TX 76092 | 817.410.2915
The last year was very rewarding. A steady stream of new customers
came both locally and from folks who were relocating to Texas
from across the country, allowing us to grow our new accounts
a(cid:85)(cid:1)a(cid:1)(cid:83)ec(cid:80)(cid:83)(cid:69)(cid:1)(cid:81)ace(cid:15)(cid:1)(cid:56)(cid:73)ile(cid:1)(cid:36)(cid:48)(cid:55)(cid:42)(cid:37)(cid:1)(cid:81)(cid:83)(cid:80)(cid:87)i(cid:69)e(cid:69)(cid:1)a(cid:1)(cid:69)i(cid:71)fic(cid:86)l(cid:85)(cid:1)a(cid:85)(cid:78)(cid:80)(cid:84)(cid:81)(cid:73)e(cid:83)e(cid:1)
to conduct business as well as our daily lives, it was the desire to
take care of all of our customers with our “Customer Service First”
culture that provided the template for achieving success in troubled
times. The Southlake Region continued to shine with recognition
for a job well done from numerous local service organizations,
n(cid:80)n(cid:81)(cid:83)(cid:80)fi(cid:85)(cid:1)(cid:72)(cid:83)(cid:80)(cid:86)(cid:81)(cid:84)(cid:1)an(cid:69)(cid:1)l(cid:80)cal(cid:1)(cid:78)e(cid:69)ia(cid:15)(cid:1)(cid:42)(cid:85)(cid:1)i(cid:84)(cid:1)(cid:88)i(cid:85)(cid:73)(cid:1)(cid:72)(cid:83)ea(cid:85)(cid:1)(cid:81)(cid:83)i(cid:69)e(cid:1)(cid:85)(cid:73)a(cid:85)(cid:1)(cid:88)e(cid:1)(cid:88)e(cid:83)e(cid:1)
recognized as “The Best Bank in Tarrant County” by Society Life
magazine for the seventh-consecutive time. These recognitions
were earned in one of the most competitive banking environments,
where all the major banks have a presence, along with numerous
other community banks. The biggest opportunity for loan growth
continues to be in the real estate market, where everything from
housing to commercial buildings is in high demand. We look forward
to continuing to provide the highest level of service excellence for
our customers and to adding new relationships this coming year.
(cid:56)i(cid:85)(cid:73)(cid:1)eac(cid:73)(cid:1)(cid:90)ea(cid:83)(cid:110)(cid:84)(cid:1)(cid:81)a(cid:84)(cid:84)in(cid:72)(cid:13)(cid:1)an(cid:1)(cid:80)(cid:81)(cid:81)(cid:80)(cid:83)(cid:85)(cid:86)ni(cid:85)(cid:90)(cid:1)i(cid:84)(cid:1)(cid:81)(cid:83)(cid:80)(cid:87)i(cid:69)e(cid:69)(cid:1)(cid:85)(cid:80)(cid:1)(cid:83)e(cid:230)ec(cid:85)(cid:1)(cid:80)n(cid:1)
the prior 12 months. I continued to be motivated by our regional
team’s resiliency and dedication to serve with excellence in 2021.
As we met for daily lineup, we reminded each other of a mutual
commitment to the 21 service nonnegotiables. This commitment
leads to building stronger relationships, which, in turn, enhances
shareholder value. The focus this past year was customer retention,
while also capitalizing on new customers and the regional growth
anchored by Tarleton State University. Population growth resulted
from the appeal to rural and ranch living in our desired, local school
districts. Our doors remained open as we originated loans, opened
new accounts and met the daily needs of our local communities.
Importance was also placed on assisting our business clients
with the PPP loan forgiveness process. We were again recognized
directly by our customers with awards in our local markets. We
remain grateful to our customers for their business and to our team
of dedicated professionals for their loyal service. Our priority is still
putting You First!
STEPHENVILLE REGION
Stephenville | Granbury | Glen Rose | Acton
Trent B. Swearengin
Chairman, President and CEO
MAIN OFFICE
2201 W. South Loop
Stephenville, TX 76401 | 254.965.5036
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, 2020
$723,366
$498,244
$640,663
Dec. 31, 2021
$983,057
$509,770
$891,491
$13,008
$16,228
2.04%
1.91%
46.36%
44.50%
Dec. 31, 2020
$730,006
$302,702
$625,252
Dec. 31, 2021
$897,743
$287,457
$781,816
$14,326
$15,329
2.15%
1.87%
41.26%
45.48%
Senior Officers
Mark L. Jones
Chairman
Shelby Bruhn
President and CEO
F. Mills Shallene
Market President, Wise County
Regional Board of Directors
Mark L. Jones
Chairman
Shelby Bruhn
President and CEO
Traci Bernard
President
Texas Health Southlake
Southlake Region | Annual Report 2021 | 26
FFIN2021-AnnualReport-Updated.indd 26-27
J. Sean Shope
Market President, Trophy Club
Carley Dyck
Executive Vice President
(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:48)(cid:81)e(cid:83)a(cid:85)i(cid:80)n(cid:84)(cid:1)(cid:48)(cid:71)fice(cid:83)(cid:1)
Ryan Sonntag
Executive Vice President
Ronald D. Butler II
First Financial Bankshares, Inc.
William Ray Cook, Jr., CPA
Cook, McDonald & Company
J. Bruce Hildebrand, CPA
Retired
First Financial Bankshares, Inc.
Chris Cregger
Senior Vice President
Isbet Najera
Senior Vice President
Travis Parker
Senior Vice President
Tracie Talkington
Senior Vice President
Martin W. Schelling
Conifer Real Estate
Stan Stephens
President
Stephens Pneumatics Inc.
Berry White
Attorney
Berry White Law Firm, PLLC
Terry Wilkinson
Wyndham Properties, Ltd.
Senior Officers
Trent Swearengin
Chairman, President and CEO
Robert Kraus
Market President, Glen Rose
Bart Rodgers
Market President, Granbury
Trent Swearengin
Chairman, President and CEO
Keith Brown
Prime Building Components, LLC
Ronald D. Butler II
First Financial Bankshares, Inc.
Walter Hardin III
Real Estate Investments
Regional Board of Directors
Vickie Pettit
Executive Vice President
(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:48)(cid:81)e(cid:83)a(cid:85)i(cid:80)n(cid:84)(cid:1)(cid:48)(cid:71)fice(cid:83)(cid:1)
Trent Tidwell
Executive Vice President
Blayne Baley
Senior Vice President
Wendell Hollingsworth
Industry and Economic
Development
West Jones
Ranching and Investments
Doug Montgomery
Texstar Kubota, Inc.
Doug Dobbins
Senior Vice President
Matthew Ward
Senior Vice President
Ron Pack
Ranching and Investments
Michael B. Williams
M W Supply, Inc.
Stephenville Region | Annual Report 2021 | 27
3/14/2022 2:00:46 PM
SOUTHLAKE REGION
Southlake | Trophy Club | Keller | Bridgeport | Boyd
Decatur | Grapevine
Mark L. Jones
Chairman
Shelby Bruhn
President and CEO
The last year was very rewarding. A steady stream of new customers
came both locally and from folks who were relocating to Texas
from across the country, allowing us to grow our new accounts
a(cid:85)(cid:1)a(cid:1)(cid:83)ec(cid:80)(cid:83)(cid:69)(cid:1)(cid:81)ace(cid:15)(cid:1)(cid:56)(cid:73)ile(cid:1)(cid:36)(cid:48)(cid:55)(cid:42)(cid:37)(cid:1)(cid:81)(cid:83)(cid:80)(cid:87)i(cid:69)e(cid:69)(cid:1)a(cid:1)(cid:69)i(cid:71)fic(cid:86)l(cid:85)(cid:1)a(cid:85)(cid:78)(cid:80)(cid:84)(cid:81)(cid:73)e(cid:83)e(cid:1)
to conduct business as well as our daily lives, it was the desire to
take care of all of our customers with our “Customer Service First”
culture that provided the template for achieving success in troubled
times. The Southlake Region continued to shine with recognition
for a job well done from numerous local service organizations,
n(cid:80)n(cid:81)(cid:83)(cid:80)fi(cid:85)(cid:1)(cid:72)(cid:83)(cid:80)(cid:86)(cid:81)(cid:84)(cid:1)an(cid:69)(cid:1)l(cid:80)cal(cid:1)(cid:78)e(cid:69)ia(cid:15)(cid:1)(cid:42)(cid:85)(cid:1)i(cid:84)(cid:1)(cid:88)i(cid:85)(cid:73)(cid:1)(cid:72)(cid:83)ea(cid:85)(cid:1)(cid:81)(cid:83)i(cid:69)e(cid:1)(cid:85)(cid:73)a(cid:85)(cid:1)(cid:88)e(cid:1)(cid:88)e(cid:83)e(cid:1)
recognized as “The Best Bank in Tarrant County” by Society Life
magazine for the seventh-consecutive time. These recognitions
were earned in one of the most competitive banking environments,
where all the major banks have a presence, along with numerous
other community banks. The biggest opportunity for loan growth
continues to be in the real estate market, where everything from
housing to commercial buildings is in high demand. We look forward
to continuing to provide the highest level of service excellence for
our customers and to adding new relationships this coming year.
(cid:56)i(cid:85)(cid:73)(cid:1)eac(cid:73)(cid:1)(cid:90)ea(cid:83)(cid:110)(cid:84)(cid:1)(cid:81)a(cid:84)(cid:84)in(cid:72)(cid:13)(cid:1)an(cid:1)(cid:80)(cid:81)(cid:81)(cid:80)(cid:83)(cid:85)(cid:86)ni(cid:85)(cid:90)(cid:1)i(cid:84)(cid:1)(cid:81)(cid:83)(cid:80)(cid:87)i(cid:69)e(cid:69)(cid:1)(cid:85)(cid:80)(cid:1)(cid:83)e(cid:230)ec(cid:85)(cid:1)(cid:80)n(cid:1)
the prior 12 months. I continued to be motivated by our regional
team’s resiliency and dedication to serve with excellence in 2021.
As we met for daily lineup, we reminded each other of a mutual
commitment to the 21 service nonnegotiables. This commitment
leads to building stronger relationships, which, in turn, enhances
shareholder value. The focus this past year was customer retention,
while also capitalizing on new customers and the regional growth
anchored by Tarleton State University. Population growth resulted
from the appeal to rural and ranch living in our desired, local school
districts. Our doors remained open as we originated loans, opened
new accounts and met the daily needs of our local communities.
Importance was also placed on assisting our business clients
with the PPP loan forgiveness process. We were again recognized
directly by our customers with awards in our local markets. We
remain grateful to our customers for their business and to our team
of dedicated professionals for their loyal service. Our priority is still
putting You First!
STEPHENVILLE REGION
Stephenville | Granbury | Glen Rose | Acton
Trent B. Swearengin
Chairman, President and CEO
MAIN OFFICE
2201 W. South Loop
Stephenville, TX 76401 | 254.965.5036
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, 2020
$723,366
$498,244
$640,663
Dec. 31, 2021
$983,057
$509,770
$891,491
$13,008
$16,228
2.04%
1.91%
46.36%
44.50%
Dec. 31, 2020
$730,006
$302,702
$625,252
Dec. 31, 2021
$897,743
$287,457
$781,816
$14,326
$15,329
2.15%
1.87%
41.26%
45.48%
Senior Officers
Trent Swearengin
Chairman, President and CEO
Robert Kraus
Market President, Glen Rose
Bart Rodgers
Market President, Granbury
Regional Board of Directors
Regional Board of Directors
Trent Swearengin
Chairman, President and CEO
Keith Brown
Prime Building Components, LLC
Ronald D. Butler II
First Financial Bankshares, Inc.
Walter Hardin III
Real Estate Investments
Vickie Pettit
Executive Vice President
(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:48)(cid:81)e(cid:83)a(cid:85)i(cid:80)n(cid:84)(cid:1)(cid:48)(cid:71)fice(cid:83)(cid:1)
Trent Tidwell
Executive Vice President
Blayne Baley
Senior Vice President
Wendell Hollingsworth
Industry and Economic
Development
West Jones
Ranching and Investments
Doug Montgomery
Texstar Kubota, Inc.
Doug Dobbins
Senior Vice President
Matthew Ward
Senior Vice President
Ron Pack
Ranching and Investments
Michael B. Williams
M W Supply, Inc.
Stephenville Region | Annual Report 2021 | 27
3/14/2022 2:00:46 PM
MAIN OFFICE
151 W. Southlake Blvd.
Southlake, TX 76092 | 817.410.2915
Senior Officers
Mark L. Jones
Chairman
Shelby Bruhn
President and CEO
F. Mills Shallene
Market President, Wise County
Mark L. Jones
Chairman
Shelby Bruhn
President and CEO
Traci Bernard
President
Texas Health Southlake
Southlake Region | Annual Report 2021 | 26
FFIN2021-AnnualReport-Updated.indd 26-27
J. Sean Shope
Market President, Trophy Club
Carley Dyck
Executive Vice President
(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:48)(cid:81)e(cid:83)a(cid:85)i(cid:80)n(cid:84)(cid:1)(cid:48)(cid:71)fice(cid:83)(cid:1)
Ryan Sonntag
Executive Vice President
Ronald D. Butler II
First Financial Bankshares, Inc.
William Ray Cook, Jr., CPA
Cook, McDonald & Company
J. Bruce Hildebrand, CPA
Retired
First Financial Bankshares, Inc.
Chris Cregger
Senior Vice President
Isbet Najera
Senior Vice President
Travis Parker
Senior Vice President
Tracie Talkington
Senior Vice President
Martin W. Schelling
Conifer Real Estate
Stan Stephens
President
Stephens Pneumatics Inc.
Berry White
Attorney
Berry White Law Firm, PLLC
Terry Wilkinson
Wyndham Properties, Ltd.
WEATHERFORD REGION
Weatherford | Aledo | Willow Park | Brock | Mineral Wells
Justin B. Hooper
Chairman, President and CEO
MAIN OFFICE
101 College Park Dr.
Weatherford, TX 76086 | 817.598.2600
The Weatherford Region had another great year in 2021 for our
Parker and Palo Pinto County locations. We were able to navigate
an additional phase of PPP loans, while also working with our
customers to get many of those loans from 2020 forgiven. On top
of this effort, we were also able to grow this region at a rapid rate.
We saw fantastic loan and deposit growth and have tremendous
momentum heading into 2022. The communities we serve continue
to see growth due to our vibrant economy, great school districts and
an incredible quality of life that is available just a few minutes west
of Fort Worth. Our dedicated and professional bankers have worked
tirelessly to support our customers through additional waves of the
pandemic and ensured that we have remained open and ready to
serve each customer. This is certainly evident in Mineral Wells, where
our customers voted us as “Best of Palo Pinto County” in the banking
sector. We look to 2022 with great excitement and stand ready to
assist our customers with their banking needs, while delivering
unparalleled You First customer service.
IN THOUSANDS
ASSETS
LOANS
DEPOSITS
NET INCOME
RETURN ON AVG. ASSETS
EFFICIENCY RATIO
Dec. 31, 2020
$1,071,539
$424,789
$915,345
Dec. 31, 2021
$1,283,427
$440,689
$1,102,735
$21,021
$21,266
2.18%
1.81%
42.95%
43.31%
Senior Officers
Justin B. Hooper
Chairman, President and CEO
Cory Crenshaw
Market President, Mineral Wells
Eddie Gregory
Senior Vice President
(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:48)(cid:81)e(cid:83)a(cid:85)i(cid:80)n(cid:84)(cid:1)(cid:48)(cid:71)fice(cid:83)
Regional Board of Directors
Justin B. Hooper
Chairman, President and CEO
Ronald D. Butler II
First Financial Bankshares, Inc.
Adam L. Feriend
Owner and COO
JRJ Construction, Inc.
George Gault
Attorney
Weatherford Region | Annual Report 2021 | 28
FFIN2021-AnnualReport-Updated.indd 28-29
Sean Woodring
Executive Vice President
Senior Lender
Amber Allen
Senior Vice President
Paul Bruns
Senior Vice President
Tim Corzine
Senior Vice President
J. Bruce Hildebrand
Retired
First Financial Bankshares, Inc.
Nan Kingsley
President
Bluestem Studios, Inc.
Kevin R. Lackey
CEO
Freedom Power Sports
Therapeutic Optometrist
Cody Cloud
Senior Vice President
Lori Hill
Senior Vice President
Jimmie Sue Lawson
Senior Vice President
Clint Myrick
Senior Vice President
Stephen E. Milliken
Former President
C.D. Hartnett Company/
McLane Express, Inc.
Mike White, O.D.
Retired
Kyle Wilks
President
Wilks Development, LLC
FIRST FINANCIAL MORTGAGE
First Financial Mortgage had another strong production year in 2021. Driven by continued low-interest rates and a
very strong Texas housing market, we exceeded $1 billion in total originations. Our team of mortgage professionals
served 3,980 families and individuals with great care and service excellence. At First Financial Mortgage, we are
(cid:78)(cid:80)(cid:84)(cid:85)(cid:1)(cid:81)(cid:83)(cid:80)(cid:86)(cid:69)(cid:1)(cid:80)(cid:71)(cid:1)(cid:85)(cid:73)e(cid:1)(cid:85)(cid:73)(cid:80)(cid:86)(cid:84)an(cid:69)(cid:84)(cid:1)(cid:80)(cid:71)(cid:1)c(cid:86)(cid:84)(cid:85)(cid:80)(cid:78)e(cid:83)(cid:84)(cid:1)(cid:88)e(cid:1)(cid:73)el(cid:81)e(cid:69)(cid:1)(cid:85)(cid:80)(cid:1)na(cid:87)i(cid:72)a(cid:85)e(cid:1)(cid:85)(cid:73)ei(cid:83)(cid:1)(cid:73)(cid:80)(cid:78)e(cid:1)financin(cid:72)(cid:1)(cid:75)(cid:80)(cid:86)(cid:83)ne(cid:90)(cid:15)
The Texas housing market continues to perform exceptionally well. The First Financial Mortgage Team is always
available to serve and assist customers — striving to accommodate and guide customers to meet their individual
nee(cid:69)(cid:84)(cid:15)(cid:1)(cid:56)e(cid:1)(cid:80)(cid:71)(cid:71)e(cid:83)(cid:1)a(cid:1)(cid:71)(cid:86)ll(cid:1)(cid:78)en(cid:86)(cid:1)(cid:80)(cid:71)(cid:1)(cid:81)(cid:83)(cid:80)(cid:69)(cid:86)c(cid:85)(cid:84)(cid:1)(cid:85)(cid:80)(cid:1)(cid:78)ee(cid:85)(cid:1)all(cid:1)(cid:83)eal(cid:1)e(cid:84)(cid:85)a(cid:85)e(cid:1)financin(cid:72)(cid:1)nee(cid:69)(cid:84)(cid:1)(cid:80)(cid:71)(cid:1)(cid:80)(cid:86)(cid:83)(cid:1)(cid:87)al(cid:86)e(cid:69)(cid:1)c(cid:86)(cid:84)(cid:85)(cid:80)(cid:78)e(cid:83)(cid:84)(cid:15)(cid:1)(cid:39)i(cid:83)(cid:84)(cid:85)(cid:1)(cid:39)inancial(cid:1)
Mortgage is well-positioned in some of the fastest growing housing markets in the state. Our dedicated team of
(cid:78)(cid:80)(cid:83)(cid:85)(cid:72)a(cid:72)e(cid:1)(cid:81)(cid:83)(cid:80)(cid:71)e(cid:84)(cid:84)i(cid:80)nal(cid:84)(cid:1)(cid:84)(cid:85)an(cid:69)(cid:1)(cid:83)ea(cid:69)(cid:90)(cid:1)(cid:85)(cid:80)(cid:1)a(cid:84)(cid:84)i(cid:84)(cid:85)(cid:1)(cid:90)(cid:80)(cid:86)(cid:1)(cid:88)i(cid:85)(cid:73)(cid:1)(cid:85)(cid:73)e(cid:1)(cid:81)(cid:86)(cid:83)c(cid:73)a(cid:84)e(cid:1)(cid:80)(cid:83)(cid:1)(cid:83)efinance(cid:1)(cid:80)(cid:71)(cid:1)(cid:90)(cid:80)(cid:86)(cid:83)(cid:1)(cid:73)(cid:80)(cid:78)e(cid:1)(cid:115)(cid:1)(cid:85)(cid:80)(cid:1)(cid:81)(cid:86)(cid:85)(cid:1)(cid:58)(cid:80)(cid:86)(cid:1)(cid:39)i(cid:83)(cid:84)(cid:85)(cid:2)
Senior Officers
Troy Fore
President
Ryan Craig
Executive Vice President
DFW
Kami Graves
Executive Vice President
Southlake
Tammie Harding
Executive Vice President
Fort Worth
Janet O’Dell
Executive Vice President
Abilene
Bobby Brennan
Senior Vice President
Conroe
Irene Green
Senior Vice President
Austin
Cindi LaChance
Senior Vice President
Southeast Texas
Wes Masters
Senior Vice President
San Angelo
Melanie Motley
Senior Vice President
Bryan/College Station
First Financial Mortgage | Annual Report 2021 | 29
3/14/2022 2:00:49 PM
WEATHERFORD REGION
Weatherford | Aledo | Willow Park | Brock | Mineral Wells
FIRST FINANCIAL MORTGAGE
First Financial Mortgage had another strong production year in 2021. Driven by continued low-interest rates and a
very strong Texas housing market, we exceeded $1 billion in total originations. Our team of mortgage professionals
served 3,980 families and individuals with great care and service excellence. At First Financial Mortgage, we are
(cid:78)(cid:80)(cid:84)(cid:85)(cid:1)(cid:81)(cid:83)(cid:80)(cid:86)(cid:69)(cid:1)(cid:80)(cid:71)(cid:1)(cid:85)(cid:73)e(cid:1)(cid:85)(cid:73)(cid:80)(cid:86)(cid:84)an(cid:69)(cid:84)(cid:1)(cid:80)(cid:71)(cid:1)c(cid:86)(cid:84)(cid:85)(cid:80)(cid:78)e(cid:83)(cid:84)(cid:1)(cid:88)e(cid:1)(cid:73)el(cid:81)e(cid:69)(cid:1)(cid:85)(cid:80)(cid:1)na(cid:87)i(cid:72)a(cid:85)e(cid:1)(cid:85)(cid:73)ei(cid:83)(cid:1)(cid:73)(cid:80)(cid:78)e(cid:1)financin(cid:72)(cid:1)(cid:75)(cid:80)(cid:86)(cid:83)ne(cid:90)(cid:15)
The Texas housing market continues to perform exceptionally well. The First Financial Mortgage Team is always
available to serve and assist customers — striving to accommodate and guide customers to meet their individual
nee(cid:69)(cid:84)(cid:15)(cid:1)(cid:56)e(cid:1)(cid:80)(cid:71)(cid:71)e(cid:83)(cid:1)a(cid:1)(cid:71)(cid:86)ll(cid:1)(cid:78)en(cid:86)(cid:1)(cid:80)(cid:71)(cid:1)(cid:81)(cid:83)(cid:80)(cid:69)(cid:86)c(cid:85)(cid:84)(cid:1)(cid:85)(cid:80)(cid:1)(cid:78)ee(cid:85)(cid:1)all(cid:1)(cid:83)eal(cid:1)e(cid:84)(cid:85)a(cid:85)e(cid:1)financin(cid:72)(cid:1)nee(cid:69)(cid:84)(cid:1)(cid:80)(cid:71)(cid:1)(cid:80)(cid:86)(cid:83)(cid:1)(cid:87)al(cid:86)e(cid:69)(cid:1)c(cid:86)(cid:84)(cid:85)(cid:80)(cid:78)e(cid:83)(cid:84)(cid:15)(cid:1)(cid:39)i(cid:83)(cid:84)(cid:85)(cid:1)(cid:39)inancial(cid:1)
Mortgage is well-positioned in some of the fastest growing housing markets in the state. Our dedicated team of
(cid:78)(cid:80)(cid:83)(cid:85)(cid:72)a(cid:72)e(cid:1)(cid:81)(cid:83)(cid:80)(cid:71)e(cid:84)(cid:84)i(cid:80)nal(cid:84)(cid:1)(cid:84)(cid:85)an(cid:69)(cid:1)(cid:83)ea(cid:69)(cid:90)(cid:1)(cid:85)(cid:80)(cid:1)a(cid:84)(cid:84)i(cid:84)(cid:85)(cid:1)(cid:90)(cid:80)(cid:86)(cid:1)(cid:88)i(cid:85)(cid:73)(cid:1)(cid:85)(cid:73)e(cid:1)(cid:81)(cid:86)(cid:83)c(cid:73)a(cid:84)e(cid:1)(cid:80)(cid:83)(cid:1)(cid:83)efinance(cid:1)(cid:80)(cid:71)(cid:1)(cid:90)(cid:80)(cid:86)(cid:83)(cid:1)(cid:73)(cid:80)(cid:78)e(cid:1)(cid:115)(cid:1)(cid:85)(cid:80)(cid:1)(cid:81)(cid:86)(cid:85)(cid:1)(cid:58)(cid:80)(cid:86)(cid:1)(cid:39)i(cid:83)(cid:84)(cid:85)(cid:2)
Senior Officers
Troy Fore
President
Ryan Craig
Executive Vice President
DFW
Kami Graves
Executive Vice President
Southlake
Tammie Harding
Tammie Harding
Executive Vice President
Fort Worth
Janet O’Dell
Janet O’Dell
Executive Vice President
Abilene
Regional Board of Directors
Bobby Brennan
Senior Vice President
Conroe
Irene Green
Senior Vice President
Austin
Cindi LaChance
Senior Vice President
Southeast Texas
Wes Masters
Wes Masters
Senior Vice President
San Angelo
Melanie Motley
Senior Vice President
Bryan/College Station
First Financial Mortgage | Annual Report 2021 | 29
3/14/2022 2:00:49 PM
IN THOUSANDS
ASSETS
LOANS
DEPOSITS
NET INCOME
RETURN ON AVG. ASSETS
EFFICIENCY RATIO
Dec. 31, 2020
$1,071,539
$424,789
$915,345
Dec. 31, 2021
$1,283,427
$440,689
$1,102,735
$21,021
$21,266
2.18%
1.81%
42.95%
43.31%
The Weatherford Region had another great year in 2021 for our
Parker and Palo Pinto County locations. We were able to navigate
an additional phase of PPP loans, while also working with our
customers to get many of those loans from 2020 forgiven. On top
of this effort, we were also able to grow this region at a rapid rate.
We saw fantastic loan and deposit growth and have tremendous
momentum heading into 2022. The communities we serve continue
to see growth due to our vibrant economy, great school districts and
an incredible quality of life that is available just a few minutes west
of Fort Worth. Our dedicated and professional bankers have worked
tirelessly to support our customers through additional waves of the
pandemic and ensured that we have remained open and ready to
serve each customer. This is certainly evident in Mineral Wells, where
our customers voted us as “Best of Palo Pinto County” in the banking
sector. We look to 2022 with great excitement and stand ready to
assist our customers with their banking needs, while delivering
unparalleled You First customer service.
Sean Woodring
Executive Vice President
Senior Lender
Amber Allen
Senior Vice President
Paul Bruns
Senior Vice President
Tim Corzine
Senior Vice President
J. Bruce Hildebrand
Retired
First Financial Bankshares, Inc.
Nan Kingsley
President
Bluestem Studios, Inc.
Kevin R. Lackey
CEO
Freedom Power Sports
Therapeutic Optometrist
Cody Cloud
Senior Vice President
Lori Hill
Senior Vice President
Jimmie Sue Lawson
Senior Vice President
Clint Myrick
Senior Vice President
Stephen E. Milliken
Former President
C.D. Hartnett Company/
McLane Express, Inc.
Mike White, O.D.
Retired
Kyle Wilks
President
Wilks Development, LLC
Justin B. Hooper
Chairman, President and CEO
MAIN OFFICE
101 College Park Dr.
Weatherford, TX 76086 | 817.598.2600
Senior Officers
Justin B. Hooper
Chairman, President and CEO
Cory Crenshaw
Market President, Mineral Wells
Eddie Gregory
Senior Vice President
(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:48)(cid:81)e(cid:83)a(cid:85)i(cid:80)n(cid:84)(cid:1)(cid:48)(cid:71)fice(cid:83)
Justin B. Hooper
Chairman, President and CEO
Ronald D. Butler II
First Financial Bankshares, Inc.
Adam L. Feriend
Owner and COO
JRJ Construction, Inc.
George Gault
Attorney
Weatherford Region | Annual Report 2021 | 28
FFIN2021-AnnualReport-Updated.indd 28-29
FIRST TECHNOLOGY SERVICES, INC.
LINE OF BUSINESS EXECUTIVES
Senior Officers
John Ruzicka
John Ruzicka
Chairman,
President and CEO
Isabel Montoya
Isabel Montoya
Executive Vice President
Deposit Operations
Maggie Tuschinski
Maggie Tuschinski
Executive Vice President
Chief Digital Officer
Cynthia Suarez
Cynthia Suarez
Senior Vice President
Chief (cid:42)nfor(cid:78)ation (cid:52)ecurit(cid:90) Officer
David Weems
David Weems
Senior Vice President
Chief O(cid:81)eration(cid:84) Officer
Larry Williams
Larry Williams
Senior Vice President
Technical Architecture
Michael Greenhaw
Michael Greenhaw
Senior Vice President
Senior System Analyst
Tony Vargas
Tony Vargas
Senior Vice President
Project Management
Sammy Scott
Sammy Scott
Vice President
End-User Support Manager
Laurinda Thomas
Laurinda Thomas
Vice President
Debit Card and
Loss Prevention Supervisor
Brad Walker
Brad Walker
Vice President
Help Desk and Network Support
Trent B. Swearengin
Chairman, President and CEO
First Financial Bank, Stephenville Region
Clay Trumble
Senior Vice President
Credit Administration
First Financial Bank
Lee Warren
Executive Vice President
(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:48)(cid:81)e(cid:83)a(cid:85)i(cid:80)n(cid:84)(cid:1)(cid:48)(cid:71)fice(cid:83)
First Financial Bank, Conroe Region
First Financial Bank, Kingwood Region
James R. Gordon
Executive Vice President
(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:39)inancial(cid:1)(cid:48)(cid:71)fice(cid:83)(cid:1)
First Financial Bankshares, Inc.
Ronnie Hawkins
President, Angelo State University
CEO, Hawkins Group
Monica Houston
Executive Vice President
Retail Banking and Training
First Financial Bank
Matthew Melbourne
Executive Vice President
First Financial Trust &
Asset Management Company
Andrea Smiddy-Schlagel
Executive Vice President
Treasury Management
First Financial Bank
Directors
John Ruzicka
Chairman, President and CEO
First Technology Services, Inc.
Executive Vice President and CIO
First Financial Bankshares, Inc.
April Anthony
Managing Partner
Anthony Family Investment Partners, LTD.
Ronald D. Butler II
Executive Vice President
(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:34)(cid:69)(cid:78)ini(cid:84)(cid:85)(cid:83)a(cid:85)i(cid:87)e(cid:1)(cid:48)(cid:71)fice(cid:83)
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.
Carley Dyck
Executive Vice President
(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:48)(cid:81)e(cid:83)a(cid:85)i(cid:80)n(cid:84)(cid:1)(cid:48)(cid:71)fice(cid:83)
First Financial Bank, Fort Worth Region
First Financial Bank, Hereford Region
First Financial Bank, Southlake Region
First Technology Services | Annual Report 2021 | 30
FFIN2021-AnnualReport-Updated.indd 30-31
In 2021, we had an unprecedented winter storm that crippled the state of Texas and adversely affected the bank’s entire footprint. In expected
fashion, bank employees, including Line of Business Executives, mobilized their teams to open branches that had power to make sure our customers
were served. Although our main building in Abilene had no heat or water, the teams from the Customer Care Center, Treasury Management, and
Technology came to work each day, braved the elements and made sure all calls were answered, wires sent out, payrolls made and customers
taken care of. During our recent ice storm in 2022, when most businesses were closed, all of our 78 locations remained open to serve our customers.
This is a testament to our people who are so dedicated to make sure we put You First!
Led by Frank Gioia, the Customer Care Center implemented a new online account opening system in early 2021, resulting in a 46 percent growth
in accounts opened online. Under Monica Houston’s leadership, the retail group’s commitment to exemplary customer service resulted in more
than 16,000 net new accounts opened, a single-year record for the bank. They also saved the bank nearly $2 million in losses by recognizing
and stopping several fraud attempts. Her training team completed 148 training sessions across the lines of business. Mike Wolverton and the
consumer and in-house mortgage lending group grew loans by 28 percent, surpassing more than $1 billion. His group closed 12,304 loans for $676
million in volume. Treasury Management (TM), led by Andrea Smiddy-Schlagel, turned in another record-setting sales year. Newer technology
and updated systems provided clients with an enhanced experience. TM also strengthened its sales team company-wide with the addition of
Stephen Flores as Senior Vice President, Sales Manager. Brandon Harris and the Appraisal Services Team worked closely with appraisal vendors
to help minimize the delays the storm placed on the real estate industry and keep the processes on schedule. New construction, renovations
and enhancements were plentiful for Gary Milliorn. The bank completed a 52,800-square-foot remodel of the new Operations Center in Abilene.
Three hailstorms in a two-week period in late spring shut down the Keller Branch for several months, while 19 other locations experienced
(cid:84)i(cid:72)nifican(cid:85)(cid:1)(cid:83)(cid:80)(cid:80)(cid:71)(cid:1)(cid:69)a(cid:78)a(cid:72)e(cid:15)(cid:1)(cid:36)(cid:80)n(cid:84)(cid:85)(cid:83)(cid:86)c(cid:85)i(cid:80)n(cid:1)be(cid:72)an(cid:1)(cid:80)n(cid:1)(cid:85)(cid:73)(cid:83)ee(cid:1)ne(cid:88)(cid:1)b(cid:83)anc(cid:73)e(cid:84)(cid:1)in(cid:1)(cid:41)(cid:86)n(cid:85)(cid:84)(cid:87)ille(cid:13)(cid:1)(cid:36)(cid:80)lle(cid:72)e(cid:1)(cid:52)(cid:85)a(cid:85)i(cid:80)n(cid:1)an(cid:69)(cid:1)(cid:45)(cid:86)(cid:78)be(cid:83)(cid:85)(cid:80)n(cid:15) Lawrence Kentz and his
compliance team are trusted advisors to the bank’s lines of business and continued assisting with interpretations of federal banking regulations
in order to help the bank stay within regulatory requirements and standards. Our Human Resources efforts were led by Josh Brown, who was
elevated to Senior Vice President, Human Resources in 2021. Josh and his team continued their focus on monitoring the ever-changing effects
of COVID on the bank and the state, as well as staying ahead of trends in the labor force. Through constant communication, he and his team
provide recommendations to leadership and keep employees apprised of the latest information. Maggie Tuschinski was hired as Executive Vice
(cid:49)(cid:83)e(cid:84)i(cid:69)en(cid:85)(cid:13)(cid:1)(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:37)i(cid:72)i(cid:85)al(cid:1)(cid:48)(cid:71)fice(cid:83)(cid:1)in(cid:1)(cid:43)(cid:86)l(cid:90)(cid:15)(cid:1)(cid:42)n(cid:1)a(cid:69)(cid:69)i(cid:85)i(cid:80)n(cid:1)(cid:85)(cid:80)(cid:1)en(cid:73)ancin(cid:72)(cid:1)(cid:80)(cid:86)(cid:83)(cid:1)c(cid:86)(cid:84)(cid:85)(cid:80)(cid:78)e(cid:83)(cid:84)(cid:110)(cid:1)(cid:86)(cid:84)e(cid:83)(cid:1)e(cid:89)(cid:81)e(cid:83)ience(cid:84)(cid:1)in(cid:1)(cid:84)e(cid:87)e(cid:83)al(cid:1)a(cid:83)ea(cid:84)(cid:13)(cid:1)(cid:84)(cid:73)e(cid:1)(cid:73)a(cid:84)(cid:1)(cid:81)la(cid:90)e(cid:69)(cid:1)an(cid:1)i(cid:78)(cid:81)(cid:80)(cid:83)(cid:85)an(cid:85)(cid:1)
(cid:83)(cid:80)le(cid:1)in(cid:1)in(cid:85)e(cid:72)(cid:83)a(cid:85)in(cid:72)(cid:1)ne(cid:88)(cid:1)(cid:84)e(cid:83)(cid:87)ice(cid:84)(cid:1)an(cid:69)(cid:1)(cid:85)(cid:80)(cid:80)l(cid:84)(cid:1)(cid:85)(cid:80)(cid:1)inc(cid:83)ea(cid:84)e(cid:1)(cid:85)(cid:73)e(cid:1)financial(cid:1)(cid:88)ell(cid:14)bein(cid:72)(cid:1)(cid:80)(cid:71)(cid:1)(cid:80)(cid:86)(cid:83)(cid:1)c(cid:86)(cid:84)(cid:85)(cid:80)(cid:78)e(cid:83)(cid:84)(cid:15)(cid:1)Chris Cook also was a new hire, brought on board
in July as Executive Vice President, Marketing. He and his team immediately placed an emphasis on digital advertising through social media and
inc(cid:83)ea(cid:84)e(cid:69)(cid:1)(cid:88)eb(cid:1)(cid:85)(cid:83)a(cid:71)fic(cid:1)an(cid:69)(cid:1)en(cid:72)a(cid:72)e(cid:78)en(cid:85)(cid:13)(cid:1)(cid:88)(cid:73)ile(cid:1)b(cid:80)(cid:80)(cid:84)(cid:85)in(cid:72)(cid:1)(cid:85)(cid:73)e(cid:1)n(cid:86)(cid:78)be(cid:83)(cid:1)(cid:80)(cid:71)(cid:1)i(cid:78)(cid:81)(cid:83)e(cid:84)(cid:84)i(cid:80)n(cid:84)(cid:1)ac(cid:83)(cid:80)(cid:84)(cid:84)(cid:1)all(cid:1)(cid:81)la(cid:85)(cid:71)(cid:80)(cid:83)(cid:78)(cid:84)(cid:15)
Line of Business Executives
Chris Cook
Executive Vice President
Advertising and Marketing
Monica Houston
Executive Vice President
Retail Banking and Training
Andrea Smiddy-Schlagel
Executive Vice President
Treasury Management
Michael Wolverton
Executive Vice President
Consumer Lending
Josh Brown
Senior Vice President
Human Resources
Frank Gioia
Senior Vice President
Customer Care Center
Brandon Harris
Senior Vice President
Appraisal Services
Lawrence Kentz
Senior Vice President
Chief Co(cid:78)(cid:81)liance Officer
Gary Milliorn
Vice President
Property Manager
Line of Business Executives | Annual Report 2021 | 31
3/14/2022 2:00:54 PM
FIRST TECHNOLOGY SERVICES, INC.
LINE OF BUSINESS EXECUTIVES
Senior Officers
Directors
John Ruzicka
Chairman, President and CEO
First Technology Services, Inc.
Executive Vice President and CIO
First Financial Bankshares, Inc.
April Anthony
Managing Partner
Anthony Family Investment Partners, LTD.
Ronald D. Butler II
Executive Vice President
(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:34)(cid:69)(cid:78)ini(cid:84)(cid:85)(cid:83)a(cid:85)i(cid:87)e(cid:1)(cid:48)(cid:71)fice(cid:83)
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.
Carley Dyck
Executive Vice President
(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:48)(cid:81)e(cid:83)a(cid:85)i(cid:80)n(cid:84)(cid:1)(cid:48)(cid:71)fice(cid:83)
First Financial Bank, Fort Worth Region
First Financial Bank, Hereford Region
First Financial Bank, Southlake Region
First Technology Services | Annual Report 2021 | 30
FFIN2021-AnnualReport-Updated.indd 30-31
John Ruzicka
Chairman,
President and CEO
Isabel Montoya
Executive Vice President
Deposit Operations
Maggie Tuschinski
Executive Vice President
Chief Digital Officer
Cynthia Suarez
Senior Vice President
Chief (cid:42)nfor(cid:78)ation (cid:52)ecurit(cid:90) Officer
David Weems
Senior Vice President
Chief O(cid:81)eration(cid:84) Officer
Larry Williams
Senior Vice President
Technical Architecture
Michael Greenhaw
Senior Vice President
Senior System Analyst
Tony Vargas
Senior Vice President
Project Management
Sammy Scott
Vice President
End-User Support Manager
Laurinda Thomas
Vice President
Debit Card and
Loss Prevention Supervisor
Brad Walker
Vice President
Help Desk and Network Support
Trent B. Swearengin
Chairman, President and CEO
First Financial Bank, Stephenville Region
Clay Trumble
Senior Vice President
Credit Administration
First Financial Bank
Lee Warren
Executive Vice President
(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:48)(cid:81)e(cid:83)a(cid:85)i(cid:80)n(cid:84)(cid:1)(cid:48)(cid:71)fice(cid:83)
First Financial Bank, Conroe Region
First Financial Bank, Kingwood Region
James R. Gordon
Executive Vice President
(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:39)inancial(cid:1)(cid:48)(cid:71)fice(cid:83)(cid:1)
First Financial Bankshares, Inc.
Ronnie Hawkins
President, Angelo State University
CEO, Hawkins Group
Monica Houston
Executive Vice President
Retail Banking and Training
First Financial Bank
Matthew Melbourne
Executive Vice President
First Financial Trust &
Asset Management Company
Andrea Smiddy-Schlagel
Executive Vice President
Treasury Management
First Financial Bank
In 2021, we had an unprecedented winter storm that crippled the state of Texas and adversely affected the bank’s entire footprint. In expected
fashion, bank employees, including Line of Business Executives, mobilized their teams to open branches that had power to make sure our customers
were served. Although our main building in Abilene had no heat or water, the teams from the Customer Care Center, Treasury Management, and
Technology came to work each day, braved the elements and made sure all calls were answered, wires sent out, payrolls made and customers
taken care of. During our recent ice storm in 2022, when most businesses were closed, all of our 78 locations remained open to serve our customers.
This is a testament to our people who are so dedicated to make sure we put You First!
Led by Frank Gioia, the Customer Care Center implemented a new online account opening system in early 2021, resulting in a 46 percent growth
in accounts opened online. Under Monica Houston’s leadership, the retail group’s commitment to exemplary customer service resulted in more
than 16,000 net new accounts opened, a single-year record for the bank. They also saved the bank nearly $2 million in losses by recognizing
and stopping several fraud attempts. Her training team completed 148 training sessions across the lines of business. Mike Wolverton and the
consumer and in-house mortgage lending group grew loans by 28 percent, surpassing more than $1 billion. His group closed 12,304 loans for $676
million in volume. Treasury Management (TM), led by Andrea Smiddy-Schlagel, turned in another record-setting sales year. Newer technology
and updated systems provided clients with an enhanced experience. TM also strengthened its sales team company-wide with the addition of
Stephen Flores as Senior Vice President, Sales Manager. Brandon Harris and the Appraisal Services Team worked closely with appraisal vendors
to help minimize the delays the storm placed on the real estate industry and keep the processes on schedule. New construction, renovations
and enhancements were plentiful for Gary Milliorn. The bank completed a 52,800-square-foot remodel of the new Operations Center in Abilene.
Three hailstorms in a two-week period in late spring shut down the Keller Branch for several months, while 19 other locations experienced
(cid:84)i(cid:72)nifican(cid:85)(cid:1)(cid:83)(cid:80)(cid:80)(cid:71)(cid:1)(cid:69)a(cid:78)a(cid:72)e(cid:15)(cid:1)(cid:36)(cid:80)n(cid:84)(cid:85)(cid:83)(cid:86)c(cid:85)i(cid:80)n(cid:1)be(cid:72)an(cid:1)(cid:80)n(cid:1)(cid:85)(cid:73)(cid:83)ee(cid:1)ne(cid:88)(cid:1)b(cid:83)anc(cid:73)e(cid:84)(cid:1)in(cid:1)(cid:41)(cid:86)n(cid:85)(cid:84)(cid:87)ille(cid:13)(cid:1)(cid:36)(cid:80)lle(cid:72)e(cid:1)(cid:52)(cid:85)a(cid:85)i(cid:80)n(cid:1)an(cid:69)(cid:1)(cid:45)(cid:86)(cid:78)be(cid:83)(cid:85)(cid:80)n(cid:15) Lawrence Kentz and his
compliance team are trusted advisors to the bank’s lines of business and continued assisting with interpretations of federal banking regulations
in order to help the bank stay within regulatory requirements and standards. Our Human Resources efforts were led by Josh Brown, who was
elevated to Senior Vice President, Human Resources in 2021. Josh and his team continued their focus on monitoring the ever-changing effects
of COVID on the bank and the state, as well as staying ahead of trends in the labor force. Through constant communication, he and his team
provide recommendations to leadership and keep employees apprised of the latest information. Maggie Tuschinski was hired as Executive Vice
(cid:49)(cid:83)e(cid:84)i(cid:69)en(cid:85)(cid:13)(cid:1)(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:37)i(cid:72)i(cid:85)al(cid:1)(cid:48)(cid:71)fice(cid:83)(cid:1)in(cid:1)(cid:43)(cid:86)l(cid:90)(cid:15)(cid:1)(cid:42)n(cid:1)a(cid:69)(cid:69)i(cid:85)i(cid:80)n(cid:1)(cid:85)(cid:80)(cid:1)en(cid:73)ancin(cid:72)(cid:1)(cid:80)(cid:86)(cid:83)(cid:1)c(cid:86)(cid:84)(cid:85)(cid:80)(cid:78)e(cid:83)(cid:84)(cid:110)(cid:1)(cid:86)(cid:84)e(cid:83)(cid:1)e(cid:89)(cid:81)e(cid:83)ience(cid:84)(cid:1)in(cid:1)(cid:84)e(cid:87)e(cid:83)al(cid:1)a(cid:83)ea(cid:84)(cid:13)(cid:1)(cid:84)(cid:73)e(cid:1)(cid:73)a(cid:84)(cid:1)(cid:81)la(cid:90)e(cid:69)(cid:1)an(cid:1)i(cid:78)(cid:81)(cid:80)(cid:83)(cid:85)an(cid:85)(cid:1)
(cid:83)(cid:80)le(cid:1)in(cid:1)in(cid:85)e(cid:72)(cid:83)a(cid:85)in(cid:72)(cid:1)ne(cid:88)(cid:1)(cid:84)e(cid:83)(cid:87)ice(cid:84)(cid:1)an(cid:69)(cid:1)(cid:85)(cid:80)(cid:80)l(cid:84)(cid:1)(cid:85)(cid:80)(cid:1)inc(cid:83)ea(cid:84)e(cid:1)(cid:85)(cid:73)e(cid:1)financial(cid:1)(cid:88)ell(cid:14)bein(cid:72)(cid:1)(cid:80)(cid:71)(cid:1)(cid:80)(cid:86)(cid:83)(cid:1)c(cid:86)(cid:84)(cid:85)(cid:80)(cid:78)e(cid:83)(cid:84)(cid:15)(cid:1)Chris Cook also was a new hire, brought on board
in July as Executive Vice President, Marketing. He and his team immediately placed an emphasis on digital advertising through social media and
inc(cid:83)ea(cid:84)e(cid:69)(cid:1)(cid:88)eb(cid:1)(cid:85)(cid:83)a(cid:71)fic(cid:1)an(cid:69)(cid:1)en(cid:72)a(cid:72)e(cid:78)en(cid:85)(cid:13)(cid:1)(cid:88)(cid:73)ile(cid:1)b(cid:80)(cid:80)(cid:84)(cid:85)in(cid:72)(cid:1)(cid:85)(cid:73)e(cid:1)n(cid:86)(cid:78)be(cid:83)(cid:1)(cid:80)(cid:71)(cid:1)i(cid:78)(cid:81)(cid:83)e(cid:84)(cid:84)i(cid:80)n(cid:84)(cid:1)ac(cid:83)(cid:80)(cid:84)(cid:84)(cid:1)all(cid:1)(cid:81)la(cid:85)(cid:71)(cid:80)(cid:83)(cid:78)(cid:84)(cid:15)
Line of Business Executives
Chris Cook
Executive Vice President
Advertising and Marketing
Advertising and Marketing
Monica Houston
Executive Vice President
Retail Banking and Training
Retail Banking and Training
Retail Banking and Training
Retail Banking and Training
Andrea Smiddy-Schlagel
Executive Vice President
Treasury Management
Treasury Management
Treasury Management
Treasury Management
Michael Wolverton
Executive Vice President
Consumer Lending
Consumer Lending
Consumer Lending
Consumer Lending
Josh Brown
Senior Vice President
Human Resources
Human Resources
Frank Gioia
Frank Gioia
Senior Vice President
Customer Care Center
Brandon Harris
Brandon Harris
Senior Vice President
Appraisal Services
Lawrence Kentz
Lawrence Kentz
Senior Vice President
Chief Co(cid:78)(cid:81)liance Officer
Gary Milliorn
Gary Milliorn
Vice President
Property Manager
Line of Business Executives | Annual Report 2021 | 31
3/14/2022 2:00:54 PM
Abilene | Beaumont | Bryan/College Station | Fort Worth | Houston | Odessa | San Angelo | San Antonio | Stephenville | Sweetwater
Trust & Asset Management (Continued)
FIRST FINANCIAL TRUST & ASSET MANAGEMENT COMPANY
(cid:53)r(cid:86)st Office (cid:46)ana(cid:72)ers
First Financial Trust & Asset Management Company delivered excellent results in 2021. Total assets
under management at year-end had a book value of $5.88 billion, an 8.9 percent increase from $5.40
billion at the end of 2020. The market value of the assets totaled $8.70 billion, a gain of 15.8 percent
from $7.51 billion. For the year, total fee income increased 22.4 percent to $36.1 million from $29.5
million in 2020, and net earnings after tax increased 22.5 percent to $17.7 million from $14.5 million.
The trust company’s investment performance remained strong. The best performing portfolio was
the Equity Income portfolio, which had a return of 27.12 percent. Our Fixed Income portfolios also
Konrad S. Halbert
Executive Vice President
Fort Worth
Lon Biebighauser
Executive Vice President
Abilene
David Castleberry
Executive Vice President
Stephenville
Wayne Chowning
Executive Vice President
Sweetwater
Barbara Hill
Executive Vice President
Odessa
outperformed their respective benchmarks.
We continue to have good growth in our newest markets in Houston, San Antonio and Bryan/College
(cid:52)(cid:85)a(cid:85)i(cid:80)n(cid:15)(cid:1)(cid:48)(cid:86)(cid:83)(cid:1)(cid:41)(cid:80)(cid:86)(cid:84)(cid:85)(cid:80)n(cid:1)(cid:80)(cid:71)fice(cid:1)n(cid:80)(cid:88)(cid:1)(cid:73)a(cid:84)(cid:1)a(cid:84)(cid:84)e(cid:85)(cid:84)(cid:1)(cid:86)n(cid:69)e(cid:83)(cid:1)(cid:78)ana(cid:72)e(cid:78)en(cid:85)(cid:1)e(cid:89)cee(cid:69)in(cid:72)(cid:1)(cid:5)(cid:18)(cid:18)(cid:17)(cid:1)(cid:78)illi(cid:80)n(cid:15)(cid:1)(cid:1)(cid:48)(cid:86)(cid:83)(cid:1)(cid:81)i(cid:81)eline(cid:84)(cid:1)
look very promising for excellent growth in these markets going forward.
(cid:35)a(cid:83)ba(cid:83)a(cid:1)(cid:41)ill(cid:13)(cid:1)(cid:88)(cid:73)(cid:80)(cid:1)(cid:73)a(cid:84)(cid:1)been(cid:1)(cid:78)ana(cid:72)in(cid:72)(cid:1)(cid:80)(cid:86)(cid:83)(cid:1)(cid:48)(cid:69)e(cid:84)(cid:84)a(cid:1)(cid:80)(cid:71)fice(cid:13)(cid:1)(cid:83)e(cid:85)i(cid:83)e(cid:69)(cid:1)a(cid:85)(cid:1)(cid:85)(cid:73)e(cid:1)en(cid:69)(cid:1)(cid:80)(cid:71)(cid:1)(cid:19)(cid:17)(cid:19)(cid:18)(cid:15)(cid:1)(cid:35)a(cid:83)ba(cid:83)a(cid:1)started
(cid:85)(cid:73)i(cid:84)(cid:1)(cid:80)(cid:71)fice(cid:1)(cid:71)(cid:80)(cid:83)(cid:1)(cid:86)(cid:84)(cid:1)in(cid:1)(cid:19)(cid:17)(cid:17)(cid:26)(cid:1)an(cid:69)(cid:1)(cid:72)(cid:83)e(cid:88)(cid:1)i(cid:85)(cid:1)(cid:85)(cid:80)(cid:1)(cid:80)(cid:87)e(cid:83)(cid:1)(cid:5)(cid:20)(cid:17)(cid:17)(cid:1)(cid:78)illi(cid:80)n(cid:1)in(cid:1)a(cid:84)(cid:84)e(cid:85)(cid:84)(cid:1)(cid:86)n(cid:69)e(cid:83)(cid:1)(cid:78)ana(cid:72)e(cid:78)en(cid:85)(cid:15)(cid:1)(cid:56)e(cid:1)a(cid:83)e(cid:1)(cid:78)(cid:80)(cid:84)(cid:85)(cid:1)
appreciative of Barbara’s contributions and wish her the best in retirement.
Kirk W. Thaxton
Chairman, President and CEO
First Financial Trust
Trust Assets - Book Value (in millions)
2017
2018
2019
2020
2021
$3,866
$4,294
$4,856
$5,398
$5,880
Trust Net Income (in thousands)
2017
2018
2019
2020
2021
$8.579
$13.532
$13.892
$14,471
$17.723
Trust Fees (in millions)
2017
2018
$0
2019
2020
2021
$23.69
$28.18
$28.40
$29.53
$36.15
Trust & Asset Management | Annual Report 2021 | 32
FFIN2021-AnnualReport-Updated.indd 32-33
40
27
Sweetwater
20
Abilene
35
Fort Worth
Stephenville
30
20
10
Odessa
San Angelo
10
35
Bryan/
College
Station
Beaumont
San Antonio
10
Houston
(Kingwood)
37
Bradley D. Brown
Senior Vice President
Southeast Texas
Brent S. Miller
Senior Vice President
Houston
Zach Reyes
Senior Vice President
San Angelo
Michael Sierra
Senior Vice President
San Antonio
Jeff Wind
Senior Vice President
Bryan/College Station
Josh Brown, CPL
Senior Vice President
Manager, Oil and Gas
David B. Pitzer
Senior Vice President
Manager, Real Property
Brent Hill
Senior Vice President
Thad Jennings
Senior Vice President
Athena Marean
Senior Vice President
Edward J. McGowan, Jr.
Senior Vice President
Belinda Roensch
Senior Vice President
Trent Martin
Jim Weaver
Senior Vice President
Senior Vice President
Kirk W. Thaxton
David F. Lupton
Chairman, President and CEO
President
First Financial Trust
Angelo Glass & Mirror Company, Inc.
John L. Beckham
Attorney, Beckham Rector and Eargle LLP
Advisory Director
Abilene Community Foundation
Leggett Foundation and Kickapoo
Senior Officers
Christopher N. Montoya
Executive Vice President
Manager, Equities
Bill Rowe
Executive Vice President
Manager, Fixed Income
Matthew Melbourne
Executive Vice President
(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:48)(cid:81)e(cid:83)a(cid:85)i(cid:80)n(cid:84)(cid:1)(cid:48)(cid:71)fice(cid:83)
Directors
Katie Alford
President and CEO
David L. Copeland
President
Shelton Family Foundation
F. Scott Dueser
Chairman of the Board,
President and CEO
First Financial Bankshares, Inc.
Jay Lawrence
President
MAL Enterprises, Inc.
Watt Matthews
Vice President
Springs Foundation
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
Trust & Asset Management | Annual Report 2021 | 33
3/14/2022 2:00:59 PM
Abilene | Beaumont | Bryan/College Station | Fort Worth | Houston | Odessa | San Angelo | San Antonio | Stephenville | Sweetwater
Trust & Asset Management (Continued)
FIRST FINANCIAL TRUST & ASSET MANAGEMENT COMPANY
(cid:53)r(cid:86)st Office (cid:46)ana(cid:72)ers
First Financial Trust & Asset Management Company delivered excellent results in 2021. Total assets
under management at year-end had a book value of $5.88 billion, an 8.9 percent increase from $5.40
billion at the end of 2020. The market value of the assets totaled $8.70 billion, a gain of 15.8 percent
from $7.51 billion. For the year, total fee income increased 22.4 percent to $36.1 million from $29.5
million in 2020, and net earnings after tax increased 22.5 percent to $17.7 million from $14.5 million.
outperformed their respective benchmarks.
We continue to have good growth in our newest markets in Houston, San Antonio and Bryan/College
(cid:52)(cid:85)a(cid:85)i(cid:80)n(cid:15)(cid:1)(cid:48)(cid:86)(cid:83)(cid:1)(cid:41)(cid:80)(cid:86)(cid:84)(cid:85)(cid:80)n(cid:1)(cid:80)(cid:71)fice(cid:1)n(cid:80)(cid:88)(cid:1)(cid:73)a(cid:84)(cid:1)a(cid:84)(cid:84)e(cid:85)(cid:84)(cid:1)(cid:86)n(cid:69)e(cid:83)(cid:1)(cid:78)ana(cid:72)e(cid:78)en(cid:85)(cid:1)e(cid:89)cee(cid:69)in(cid:72)(cid:1)(cid:5)(cid:18)(cid:18)(cid:17)(cid:1)(cid:78)illi(cid:80)n(cid:15)(cid:1)(cid:1)(cid:48)(cid:86)(cid:83)(cid:1)(cid:81)i(cid:81)eline(cid:84)(cid:1)
look very promising for excellent growth in these markets going forward.
(cid:35)a(cid:83)ba(cid:83)a(cid:1)(cid:41)ill(cid:13)(cid:1)(cid:88)(cid:73)(cid:80)(cid:1)(cid:73)a(cid:84)(cid:1)been(cid:1)(cid:78)ana(cid:72)in(cid:72)(cid:1)(cid:80)(cid:86)(cid:83)(cid:1)(cid:48)(cid:69)e(cid:84)(cid:84)a(cid:1)(cid:80)(cid:71)fice(cid:13)(cid:1)(cid:83)e(cid:85)i(cid:83)e(cid:69)(cid:1)a(cid:85)(cid:1)(cid:85)(cid:73)e(cid:1)en(cid:69)(cid:1)(cid:80)(cid:71)(cid:1)(cid:19)(cid:17)(cid:19)(cid:18)(cid:15)(cid:1)(cid:35)a(cid:83)ba(cid:83)a(cid:1)started
(cid:85)(cid:73)i(cid:84)(cid:1)(cid:80)(cid:71)fice(cid:1)(cid:71)(cid:80)(cid:83)(cid:1)(cid:86)(cid:84)(cid:1)in(cid:1)(cid:19)(cid:17)(cid:17)(cid:26)(cid:1)an(cid:69)(cid:1)(cid:72)(cid:83)e(cid:88)(cid:1)i(cid:85)(cid:1)(cid:85)(cid:80)(cid:1)(cid:80)(cid:87)e(cid:83)(cid:1)(cid:5)(cid:20)(cid:17)(cid:17)(cid:1)(cid:78)illi(cid:80)n(cid:1)in(cid:1)a(cid:84)(cid:84)e(cid:85)(cid:84)(cid:1)(cid:86)n(cid:69)e(cid:83)(cid:1)(cid:78)ana(cid:72)e(cid:78)en(cid:85)(cid:15)(cid:1)(cid:56)e(cid:1)a(cid:83)e(cid:1)(cid:78)(cid:80)(cid:84)(cid:85)(cid:1)
appreciative of Barbara’s contributions and wish her the best in retirement.
The trust company’s investment performance remained strong. The best performing portfolio was
the Equity Income portfolio, which had a return of 27.12 percent. Our Fixed Income portfolios also
Konrad S. Halbert
Executive Vice President
Fort Worth
Lon Biebighauser
Executive Vice President
Abilene
David Castleberry
Executive Vice President
Stephenville
Wayne Chowning
Executive Vice President
Sweetwater
Barbara Hill
Executive Vice President
Odessa
Kirk W. Thaxton
Chairman, President and CEO
First Financial Trust
Trust Assets - Book Value (in millions)
Trust Net Income (in thousands)
2017
2018
2019
2020
2021
2017
2018
2019
2020
2021
$3,866
$4,294
$4,856
$5,398
$5,880
$8.579
$13.532
$13.892
$14,471
$17.723
Trust Fees (in millions)
2017
2018
$0
2019
2020
2021
$23.69
$28.18
$28.40
$29.53
$36.15
Trust & Asset Management | Annual Report 2021 | 32
FFIN2021-AnnualReport-Updated.indd 32-33
40
27
Sweetwater
20
Abilene
35
Fort Worth
Stephenville
30
20
10
Odessa
San Angelo
10
35
Bryan/
College
Station
Beaumont
San Antonio
10
Houston
(Kingwood)
37
Bradley D. Brown
Senior Vice President
Southeast Texas
Brent S. Miller
Senior Vice President
Houston
Zach Reyes
Senior Vice President
San Angelo
Michael Sierra
Senior Vice President
San Antonio
Jeff Wind
Senior Vice President
Bryan/College Station
Senior Officers
Christopher N. Montoya
Executive Vice President
Manager, Equities
Bill Rowe
Executive Vice President
Manager, Fixed Income
Matthew Melbourne
Executive Vice President
(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:48)(cid:81)e(cid:83)a(cid:85)i(cid:80)n(cid:84)(cid:1)(cid:48)(cid:71)fice(cid:83)
Directors
Josh Brown, CPL
Senior Vice President
Manager, Oil and Gas
David B. Pitzer
Senior Vice President
Manager, Real Property
Brent Hill
Senior Vice President
Thad Jennings
Senior Vice President
Athena Marean
Senior Vice President
Trent Martin
Senior Vice President
Edward J. McGowan, Jr.
Senior Vice President
Belinda Roensch
Senior Vice President
Jim Weaver
Senior Vice President
Advisory Director
Kirk W. Thaxton
Chairman, President and CEO
First Financial Trust
David F. Lupton
President
Angelo Glass & Mirror Company, Inc.
John L. Beckham
Attorney, Beckham Rector and Eargle LLP
Katie Alford
President and CEO
Abilene Community Foundation
David L. Copeland
President
Shelton Family Foundation
F. Scott Dueser
Chairman of the Board,
President and CEO
First Financial Bankshares, Inc.
Jay Lawrence
President
MAL Enterprises, Inc.
Watt Matthews
Vice President
Leggett Foundation and Kickapoo
Springs Foundation
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
Trust & Asset Management | Annual Report 2021 | 33
3/14/2022 2:00:59 PM
FIRST FINANCIAL BANKSHARES
CORPORATE INFORMATION
FIRST FINANCIAL BANKSHARES &
FIRST FINANCIAL BANK
BOARD OF DIRECTORS
Officers
Directors
F. Scott Dueser
Chairman of the Board,
President and CEO
Ronald D. Butler II
Executive Vice President
Chief Administrative Officer
David Bailey
Executive Vice President
Commercial Banking
Rett Everett
Executive Vice President
Credit Administration
James Gordon
Executive Vice President
Chief (cid:39)inancial Officer
F. Scott Dueser
Chairman of the Board,
President and CEO, First
Financial Bankshares, Inc.
Year: 1991
Committee: 1
April Anthony
Managing Partner
Anthony Family Investment
Partners, LTD.
Year: 2015
Committee: 2
Vianei Lopez Braun
Chief De(cid:87)elo(cid:81)(cid:78)ent Officer
Decker Jones, P.C.
Year: 2020
Committee: 3,5
Tucker S. Bridwell*
David L. Copeland, CPA
President
Mansefeldt Investment Corp.
Year: 2007
Committee: 1,4
* Lead Director
President, SIPCO, Inc. and
Shelton Family Foundation
Year: 1998
Committee: 1,2,4,5
Gary Gragg
Executive Vice President
Chief (cid:45)ending Officer
Luke Longhofer
Executive Vice President
Chief Credit Officer
Kyle McVey, CPA
Executive Vice President
Chief Accounting Officer
Randy Roewe
Executive Vice President
Chief (cid:51)i(cid:84)(cid:76) Officer
John Ruzicka
Executive Vice President
Chief (cid:42)nfor(cid:78)ation Officer
Mike Denny
President
Batjer and Associates
Year: 2019
Committee: 2,6
Murray Edwards
Principal
The Edwards Group
Year: 2006
Committee: 1,2,4,5,6
Dr. Eli Jones
Former Dean of Mays Business
School, Professor of Marketing,
Lowry and Peggy Mays
Eminent Scholar
Year: 2022
Committee: 3
Tim Lancaster
Former President and CEO
Hendrick Health System
Year: 2013
Committee: 1,2,3,4,6
Kade Matthews
Ranching
Investments
Year: 1998
Committee: 3,5
Kirk W. Thaxton
Chairman, President and CEO
First Financial Trust
Marna Yerigan
Executive Vice President
Credit Administration
Corporate Information
ANNUAL MEETING
Tuesday, April 26, 2022
Abilene Convention Center
1100 N. Sixth St.
Abilene, TX 79601
10:30 a.m., or via livestream at
(cid:71)fin(cid:15)c(cid:80)(cid:78)(cid:16)li(cid:87)e(cid:14)e(cid:87)en(cid:85)(cid:84)
FOR FINANCIAL AND
INVESTOR INFORMATION:
James Gordon
Executive Vice President
(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:39)inancial(cid:1)(cid:48)(cid:71)fice(cid:83)(cid:1)
325.627.7361
SEND CERTIFICATES FOR
TRANSFER AND ADDRESS
CHANGES TO:
Continental Stock Transfer &
Trust Company
(cid:18)(cid:1)(cid:52)(cid:85)a(cid:85)e(cid:1)(cid:52)(cid:85)(cid:83)ee(cid:85)(cid:13)(cid:1)(cid:20)(cid:17)(cid:85)(cid:73)(cid:1)(cid:230)(cid:80)(cid:80)(cid:83)
New York, NY 10004
ADDRESS SHAREHOLDER
INQUIRIES TO:
Continental Stock Transfer &
Trust Company
(cid:18)(cid:1)(cid:52)(cid:85)a(cid:85)e(cid:1)(cid:52)(cid:85)(cid:83)ee(cid:85)(cid:13)(cid:1)(cid:20)(cid:17)(cid:85)(cid:73)(cid:1)(cid:230)(cid:80)(cid:80)(cid:83)
New York, NY 10004
TRANSFER AGENT
Continental Stock Transfer &
Trust Company
212.509.4000
www.continentalstock.com
CORPORATE OFFICE
400 Pine St. | Suite 310
Abilene, TX 79601
325.627.7038
CORPORATE MAILING
ADDRESS
P.O. Box 701
Abilene, TX 79604
INDEPENDENT
PUBLIC AUDITORS
Ernst & Young LLP
Dallas, TX
First Financial Bank Corporate Information | Annual Report 2021 | 34
NASDAQ: FFIN
(cid:88)(cid:88)(cid:88)(cid:15)(cid:71)fin(cid:15)c(cid:80)(cid:78)
Robert C. Nickles, Jr.
Executive Chairman
Alegacy Group, LLC
Year: 2019
Committee: 1,4,5
Johnny E. Trotter
President and CEO
Livestock Investors, Ltd.
Year: 2003
Committee: 1,3,4
COMMITTEE CHAIRS:
1. Executive Committee: F. Scott Dueser, Chairman
2. Audit Committee: David L. Copeland, Chairman
3. Compensation Committee: Tim Lancaster, Chairman
4. Nominating/Corporate Governance Committee: Tucker S. Bridwell, Chairman
5. Risk Committee: Robert C. Nickles, Jr., Chairman
6. Bank Directors’ Loan Committee: Murray Edwards, Chairman
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, 2021, deposit information compiled by the Federal Deposit Insurance Corporation.
First Financial Bankshares & First Financial Bank Board of Directors | Annual Report 2021 | 35
FFIN2021-AnnualReport-Updated.indd 34-35
3/14/2022 2:01:05 PM
FIRST FINANCIAL BANKSHARES
CORPORATE INFORMATION
FIRST FINANCIAL BANKSHARES &
FIRST FINANCIAL BANK
BOARD OF DIRECTORS
Officers
Directors
F. Scott Dueser
Chairman of the Board,
President and CEO
Ronald D. Butler II
Executive Vice President
Chief Administrative Officer
David Bailey
Executive Vice President
Commercial Banking
Rett Everett
Executive Vice President
Credit Administration
James Gordon
Executive Vice President
Chief (cid:39)inancial Officer
F. Scott Dueser
Chairman of the Board,
President and CEO, First
Financial Bankshares, Inc.
Year: 1991
Committee: 1
April Anthony
April Anthony
Managing Partner
Anthony Family Investment
Partners, LTD.
Year: 2015
Committee: 2
Vianei Lopez Braun
Chief De(cid:87)elo(cid:81)(cid:78)ent Officer
Decker Jones, P.C.
Year: 2020
Committee: 3,5
Tucker S. Bridwell*
President
Mansefeldt Investment Corp.
Year: 2007
Committee: 1,4
* Lead Director
David L. Copeland, CPA
President, SIPCO, Inc. and
Shelton Family Foundation
Year: 1998
Committee: 1,2,4,5
Gary Gragg
Executive Vice President
Chief (cid:45)ending Officer
Luke Longhofer
Executive Vice President
Chief Credit Officer
Kyle McVey, CPA
Executive Vice President
Chief Accounting Officer
Randy Roewe
Executive Vice President
Chief (cid:51)i(cid:84)(cid:76) Officer
John Ruzicka
Executive Vice President
Chief (cid:42)nfor(cid:78)ation Officer
Kirk W. Thaxton
Chairman, President and CEO
First Financial Trust
Marna Yerigan
Executive Vice President
Credit Administration
Corporate Information
ANNUAL MEETING
Tuesday, April 26, 2022
Abilene Convention Center
1100 N. Sixth St.
Abilene, TX 79601
10:30 a.m., or via livestream at
(cid:71)fin(cid:15)c(cid:80)(cid:78)(cid:16)li(cid:87)e(cid:14)e(cid:87)en(cid:85)(cid:84)
FOR FINANCIAL AND
INVESTOR INFORMATION:
James Gordon
Executive Vice President
(cid:36)(cid:73)ie(cid:71)(cid:1)(cid:39)inancial(cid:1)(cid:48)(cid:71)fice(cid:83)(cid:1)
325.627.7361
SEND CERTIFICATES FOR
TRANSFER AND ADDRESS
CHANGES TO:
Continental Stock Transfer &
Trust Company
(cid:18)(cid:1)(cid:52)(cid:85)a(cid:85)e(cid:1)(cid:52)(cid:85)(cid:83)ee(cid:85)(cid:13)(cid:1)(cid:20)(cid:17)(cid:85)(cid:73)(cid:1)(cid:230)(cid:80)(cid:80)(cid:83)
New York, NY 10004
ADDRESS SHAREHOLDER
INQUIRIES TO:
Continental Stock Transfer &
Trust Company
(cid:18)(cid:1)(cid:52)(cid:85)a(cid:85)e(cid:1)(cid:52)(cid:85)(cid:83)ee(cid:85)(cid:13)(cid:1)(cid:20)(cid:17)(cid:85)(cid:73)(cid:1)(cid:230)(cid:80)(cid:80)(cid:83)
New York, NY 10004
TRANSFER AGENT
Continental Stock Transfer &
Trust Company
212.509.4000
www.continentalstock.com
CORPORATE OFFICE
400 Pine St. | Suite 310
Abilene, TX 79601
325.627.7038
CORPORATE MAILING
ADDRESS
P.O. Box 701
Abilene, TX 79604
INDEPENDENT
PUBLIC AUDITORS
Ernst & Young LLP
Dallas, TX
NASDAQ: FFIN
(cid:88)(cid:88)(cid:88)(cid:15)(cid:71)fin(cid:15)c(cid:80)(cid:78)
Mike Denny
President
Batjer and Associates
Year: 2019
Committee: 2,6
Murray Edwards
Principal
The Edwards Group
Year: 2006
Committee: 1,2,4,5,6
Dr. Eli Jones
Former Dean of Mays Business
School, Professor of Marketing,
Lowry and Peggy Mays
Eminent Scholar
Year: 2022
Committee: 3
Tim Lancaster
Former President and CEO
Hendrick Health System
Year: 2013
Committee: 1,2,3,4,6
Kade Matthews
Ranching
Investments
Year: 1998
Committee: 3,5
Robert C. Nickles, Jr.
Executive Chairman
Alegacy Group, LLC
Year: 2019
Committee: 1,4,5
Johnny E. Trotter
President and CEO
Livestock Investors, Ltd.
Year: 2003
Committee: 1,3,4
COMMITTEE CHAIRS:
1. Executive Committee: F. Scott Dueser, Chairman
2. Audit Committee: David L. Copeland, Chairman
3. Compensation Committee: Tim Lancaster, Chairman
4. Nominating/Corporate Governance Committee: Tucker S. Bridwell, Chairman
5. Risk Committee: Robert C. Nickles, Jr., Chairman
6. Bank Directors’ Loan Committee: Murray Edwards, Chairman
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, 2021, deposit information compiled by the Federal Deposit Insurance Corporation.
First Financial Bank Corporate Information | Annual Report 2021 | 34
First Financial Bankshares & First Financial Bank Board of Directors | Annual Report 2021 | 35
FFIN2021-AnnualReport-Updated.indd 34-35
3/14/2022 2:01:05 PM
(cid:21)00 Pine St., Abilene, T(cid:57) 79601 | 325.627.703(cid:25) | ffin.com
FFIN2021-AnnualReport-Updated.indd 36
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