First Financial Bankshares

2024
ANNUAL REPORT
Continuing the Legacy...

3
A LETTER TO SHAREHOLDERS
A LETTER TO SHAREHOLDERS
2
Hendrick Medical Center.  In 2023, he was inducted into 
the Texas Bankers Hall of Fame; in 2024, he was honored 
as a Distinguished Alumnus of Texas Tech University; and 
in 2025, he was inducted into the Business Hall of Fame by 
the Junior Achievement of Abilene. 
Also, in December 2024, David Bailey was promoted to 
President of First Financial Bankshares, Inc. and President 
of First Financial Bank, positions previously held by me.  
I will continue to serve as Chief Executive Officer and 
Chairman of the Board of both entities. Since David is 
now President of the Company, we are splitting this letter 
to shareholders so that he can tell you about his vision 
for our bright future and the things that we have recently 
done to make the Company more efficient and prepare 
us for future growth. David has been with the Bank for 
21 years, starting as a Teller and moving up the ladder to 
become President and CEO of the Eastland Division and 
later Executive Vice President of Commercial Banking 
for the Company. He was also Executive Vice President, 
Chief Banking Officer. He continues to oversee all lending 
and treasury management functions while also serving 
as the Service Improvement Team co-chair. He is a 
graduate of McMurry University, FFIN University and the 
Southwestern Graduate School of Banking at Southern 
Methodist University. David presently serves as First Vice 
Chair on the Board of Trustees at McMurry University, 
Secretary/Treasurer of the Abilene Chamber of Commerce, 
Executive Board member of the Hendrick Medical 
Center Foundation in Abilene, and Board member of the                
Abilene Philharmonic Orchestra.
In December 2024, the Board of Directors of First 
Financial Trust & Asset Management Company promoted 
Lon Biebighauser to President of that company. Lon 
replaced Kirk Thaxton, who had been President of the 
Trust Company for 18 years. Kirk has transitioned to 
Relationship Manager on a reduced schedule and is also 
serving as Vice Chairman of the Trust Company’s Board of 
Directors. Lon has been with First Financial Trust & Asset 
Management Company for 17 years. He has risen through 
the ranks from Assistant Vice President to Regional 
President of the West Texas Region, including the Abilene 
office. He is a graduate of Texas A&M University and 
FFIN University and is also a Certified Trust and Financial 
Advisor.  Lon is a past Board chair of United Way of Abilene 
and has served on the Boards of The Grace Museum,     
Ben Richey Boys Ranch Foundation, the historic 
Paramount Theatre, Abilene Volunteer Services Council 
and Meals on Wheels Plus. He was also selected as one of 
the “Top 20 Under 40” by the Abilene Reporter-News.
The Abilene Regional Board of First Financial 
Bank, in December 2024, approved the promotion                                  
of Marelyn Shedd to Chief Executive Officer of the Abilene 
Region, a position previously held by Ron Butler.  Marelyn 
Shedd has been with First Financial Bank for 34 years, 
starting as Senior Vice President of Commercial Lending 
and moving up the ladder to President of the Abilene 
Region in 2012. She was the first female President of the 
Abilene Region, and now she is its first female CEO. A 
graduate of Baylor University, she has been honored as 
a Woman of Outstanding Achievement, a Business Hall 
of Fame Honorary, and a winner of the Rotary Club’s Paul 
Harris Fellowship Award. Marelyn currently serves on 
the Boards of Abilene Christian University and Abilene 
Arts Alliance. She has previously served as Chair of the 
Boards of the Community Foundation of Abilene and of the 
Hendrick Medical Center Foundation. 
Also, in December 2024, the Abilene Regional Board 
of First Financial Bank selected Marshall Morris to fill 
Marelyn Shedd’s previous role as President of the Abilene 
Region. Marshall joined the Bank 14 years ago as a Credit 
Analyst and has risen through the ranks to Executive Vice 
President and Senior Relationship Manager for the Abilene 
Region of First Financial Bank. He is a graduate of Texas 
A&M University, Southwestern Graduate School of Banking 
at Southern Methodist University, and FFIN University. 
Marshall has been the Chairman of the Board of the 
Abilene Chamber of Commerce and the Abilene A&M Club. 
He has served on the Boards of Texas Trails Council Scouts 
of America, Abilene Young Professionals, Frontier Texas, 
Junior Achievement, United Way of Abilene, Young Life 
Committee, Abilene Preservation League and St. John’s 
Episcopal School. He has also participated in the Chamber 
of Commerce’s Leadership Abilene program and was 
selected as one of the “Top 20 Under 40” by the Abilene 
Reporter-News. Marshall is the eighth President of one 
of our regional banks to have started with the Company 
and to have moved up through our training programs to 
become President of one of our regions.
In October 2024, the First Financial Bank Board promoted 
Rodney Foster to Regional President of First Financial 
Bank Sweetwater Division. Rodney has 31 years of 
banking experience and previously was Executive Vice 
President of the Sweetwater Division. He has a Bachelor 
of Science degree in Agricultural Economics and a Master 
of Agricultural Business Management degree from            
Texas Tech University.
In September 2024, First Financial Bankshares, Inc. 
announced the election of Brian D. Goodrich as Executive 
Vice President and General Counsel. Brian was previously 
the first Senior Vice President and Deputy General 
Counsel of MidFirst Bank, a $38 billion privately held 
bank in Oklahoma City, OK. Prior to joining MidFirst Bank, 
C
ompared with other banks, First Financial 
Bankshares is an anomaly. What’s more, we have 
to remain an anomaly if we are to continue as a 
high-performing bank and retain the premium in our bank 
stock. We stay anomalous by providing the outstanding 
customer service taught by Horst Schulze, co-founder of 
The Ritz Carlton Hotel Company. Following his teaching, 
we promote a family atmosphere to ensure that our 
people are well taken care of and that our stockholders 
receive stellar returns on their investment. 
As we further transform ourselves into a mid-tier bank 
(with assets of $10 to $100 billion), we are executing 
ongoing management and board succession planning 
so that the Company will continue to perform at very 
high levels in the future. The professional bankers that 
we have hired over the last several years have come 
largely from mid-tier banks, and their expertise will be 
very valuable to us as we grow. We have further trained, 
educated and mentored most of our new management 
team, and they are eager and ready to take the Bank 
to the next level by “continuing the legacy”—i.e., 
implementing the principles and strategies that have 
made this Company great. I can assure you that our new 
team is smarter, wiser and more in tune with today’s 
banking industry, and already play an integral role in 
managing the Company. 
As for those of us who have been here for a long time, 
we plan to step aside so new people can fill important 
management positions. But we plan to make ourselves 
available to the team to ensure they have the support 
and direction they will need. Our goal is for the 
Company to never waver from (1) providing excellent 
and personalized customer service, (2) delivering 
unparalleled value to our shareholders, (3) enriching the 
lives of our employees and (4) creating a positive impact 
on the communities we serve. 
There’s one other point I want to make about the 
Company as an “anomaly”: We have had only three CEOs 
over the past 71 years: Walter Johnson from 1954 to 1981 
(27 years), Ken Murphy from 1981 to 2000 (19 years), and 
me from 2000 to the present (25 years). I challenge you 
to find another publicly traded company with this kind 
of continuity. And reflecting the Company’s commitment 
to “continuing the legacy” is the fact that both Walter, 
who was the CEO, and Ken, who was President at the 
time, trained and mentored me. The main reason I came 
to First National Bank of Abilene (now First Financial 
Bank) 49 years ago was that it was considered one of 
the best banks in the country, and I wanted to learn from 
Walter and Ken. Our focus on constant improvement 
through the years strengthened and grew the Bank while 
maintaining its legacy of being one of the best banks in 
the country.
ONGOING 
MANAGEMENT SUCCESSION
My personal goal as I work toward retirement is to make 
sure that the Company has the best banking professionals 
in the right positions so it can successfully grow and 
prosper. For more details about some of our management 
team and our proposed board members, please see the 
articles on pages 10 through 17. We are very proud of our 
new management team, as well as the accomplishments 
they have achieved both personally and professionally.
In December 2024, First Financial Bankshares, Inc. 
announced the promotion of Ron Butler to Vice 
Chairman of the Executive Management Committee of                      
First Financial Bankshares. He will continue to serve as 
Chief Administrative Officer of the Company. Ron has 
been with the Company for 32 years and, during that time, 
has been Senior Vice President of Commercial Lending, 
President and CEO of the Eastland Division, President 
and CEO of the Stephenville Region, and CEO of the 
Abilene Region. He holds a bachelor’s degree from 
Texas Tech University and a master’s degree from 
Tarleton State University. He also is a graduate 
of the Southwestern Graduate School of 
Banking at Southern Methodist University 
and the National Commercial 
Lending School at the University 
of Oklahoma. He is presently the 
Chair-elect of the Texas Bankers 
Association and Board Chair 
of ContinueCARE Hospital at 

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A LETTER TO SHAREHOLDERS
A LETTER TO SHAREHOLDERS
4
he held positions as Senior Corporate Counsel at BBVA 
Compass; as an attorney with Thompson & Knight LLP; as 
a Customer Assistance Specialist with the Office of the 
Comptroller of the Currency; and as a Branch Manager 
with Bank of America. Brian holds a finance degree from 
Texas Tech University and a Doctor of Jurisprudence 
degree from South Texas College of Law, where he         
was valedictorian.
In June 2024, First Financial Bank elected Dan 
Summerford as Executive Vice President and Director of 
Middle Market Banking. Dan joined the Bank after serving 
as Managing Director and Head of Houston Commercial 
Banking for East West Bank, a $53 billion bank. He began 
his banking career in 1994 at Wells Fargo Bank; since then, 
he has held several senior and executive management 
positions in corporate and middle market banking with 
various financial institutions, primarily in the Southeast 
Texas market. Besides contributing to banking, Dan has 
been active in the community, most recently serving on the 
Board of Trustees of the Cypress Fairbanks Educational 
Foundation and as a Board member of the Katy (West 
Houston) Area Economic Development Council.  He holds 
a bachelor’s degree from Texas Tech University and is a 
graduate of the Western States School of Banking at the 
University of New Mexico.
In May 2024, the Board of Directors of First Financial Bank, 
Bryan/College Station Region, announced the promotion 
of Nora Thompson to Board Chair and CEO and of Austin 
Bryan to Regional President. Nora has more than 30 years 
of experience in the financial services and mortgage 
industries in Bryan and College Station and has been 
serving as the President and CEO of First Financial Bank, 
Bryan/College Station Region, since 2021.  She is a 2001 
graduate of the Southwestern Graduate School of Banking 
at Southern Methodist University, as well as a graduate 
of FFIN University. In the Brazos Valley community, Nora 
serves as a Board member for Baylor Scott & White Health 
and for the Brazos Valley Fair and Rodeo. Austin Bryan is 
a fourth-generation banker who received his Bachelor of 
Business Administration in Finance degree from Texas 
A&M University. He also is a graduate of the Southwestern 
Graduate School of Banking at Southern Methodist 
University and of FFIN University. His previous role with us 
was as Executive Vice President and Senior Relationship 
Manager of First Financial Bank, Bryan/College Station 
Region. Austin’s community involvement includes the Boys 
& Girls Clubs of the Brazos Valley, Bryan/College Station 
Chamber of Commerce, Bryan Rotary Club, United Way of 
the Brazos Valley, and the Bryan Business Council.
In February 2024, the Board of Directors of First Financial 
Bank, Southeast Texas Region, announced the promotion 
of Blaine Caillier to Regional President. Blaine started his 
career at First Financial Bank, Southeast Texas Region, 
over 13 years ago and most recently served as the 
Mid-County Market President beginning in 2016. Blaine 
is a graduate of Lamar University, the Southwestern 
Graduate School of Banking at Southern Methodist 
University, Leadership Southeast Texas, the Texas Bankers 
Association Management Development Program, and 
FFIN University. He is the seventh President of one of our 
regional banks to have started with the Company and to 
have moved up through our training programs to become 
President of one of our regions. He currently serves as 
a Director of the Nederland and Port Arthur Chambers 
of Commerce and as a Director of the Lutcher Theater.  
Additionally, he is a current member of, and past President 
of, the Nederland Rotary Club.
In January 2024, First Financial Bank Board of Directors 
elected Eric Bonnell to be the Director of Enterprise 
Risk Management. Eric oversees the enterprise risk 
management (ERM) framework to provide more 
transparency and structure for proactive risk management. 
Eric comes to First Financial from Atlantic Union Bank, 
a $21 billion bank in Richmond, Virginia, where he was 
instrumental in developing that bank’s ERM framework. 
He has also served in a number of operational risk 
management and technology-related roles, including 
business continuity and information security. Eric 
earned a Bachelor of Arts degree (Computer Science) 
from Manhattan College and a Master of Science 
degree (Computer Information Systems) from Iona 
College. He graduated from the American Bankers 
Association’s Stonier Graduate School of Banking and the 
Wharton Leadership Program, both at the University of 
Pennsylvania. 
Also in January 2024, First Financial Bank announced the 
promotion of Lori Hill to Executive Vice President, Retail.  
Lori is an excellent selection for this position because of 
her 25 years of experience with the Bank. Lori began her 
career at First Financial while attending Abilene Christian 
University. She played an integral role in founding what 
is now the Customer Care Center.  Later, she transitioned 
into the retail line of business, where she continued to 
advance her career. Most recently, she served as Senior 
Vice President, Retail Administrator of First Financial Bank, 
Weatherford Region. 
In her new role, Lori will lead all retail initiatives and will 
work with each of our regional presidents and chief 
operating officers to ensure we have the best retail team in 
our footprint.
Most recently, in January 2025, the Board of Directors of 
First Financial Bank’s Greater Houston Region promoted 
James Alexander to President of the Region. This position 
was previously held by Shelley Dacus, who will continue to 
be CEO of the Region. James has been with the Bank since 
2011 and has been the Senior Lender. He was formerly 
Market CEO for Sterling Bank and Woodlands Market 
Manager for Compass Bank. James currently is Chairman 
of Partnership Lake Houston and Treasurer for the 
Splendora ISD Education Foundation. He also volunteers 
to teach at the Stimulating Urban Renewal program at the 
University of Houston’s C.T. Bauer College of Business. 
James holds a Bachelor of Business Administration in 
Finance degree from Texas A&M University and a Master 
of Business Administration in Finance degree from the 
University of Houston. He is also a graduate of FFIN 
University and the Southwestern Graduate School of 
Banking at Southern Methodist University. 
Also in January 2025, the Board of Directors of First 
Financial Bank announced the promotion of Chris 
Schjetnan to Executive Vice President, Director of 
Community Lending and Outreach. In this role, Chis will 
lead the Bank’s affordable banking initiatives which focus 
on traditionally underserved communities. He will lead 
our ongoing efforts to ensure equitable access to banking 
options that serve the diverse needs of our borrowers. 
Born in Mexico City and raised there in a bilingual and 
bicultural household, Chris brings experiences and 
expertise that have enabled him to become a leader 
in community lending and outreach for our Bank. He 
began his career at First Financial Bank in 2012, after 
spending several years at Wells Fargo in credit and 
branch management positions. In his most recent role as 
Executive Vice President, Regional Consumer Lending 
Manager, he oversaw a team responsible for loan portfolio 
growth in the Bank’s Chisholm Trail Region. Chris received 
a Bachelor of Business Administration degree from 
Western New Mexico University and is a graduate of the 
Southwestern Graduate School of Banking at Southern 
Methodist University, the American Bankers Association 
Commercial Lending School and FFIN University. 
FFIN BOARD 
OF DIRECTORS CHANGES
We are carrying out succession planning not only at the 
managerial level but also at the Board level. In May 2024, 
the Board of Directors of First Financial Bankshares, Inc. 
announced the appointment of Sally Pope Davis to the 
Company’s Board and to the Boards of First Financial Bank 
and First Financial Trust & Asset Management Company.  
She serves on the Risk Committee for the holding 
company’s Board and on the Investment Committee for the 
Trust Board.  
Sally retired from Goldman Sachs in April 2024 after a 
35-year career at the firm. During her tenure at Goldman 
Sachs’s Asset Management business, she co-led one of 
the industry’s largest U.S. small-cap value funds. She also 
had specific responsibility for expertise and investments 
across the financial sector, including banks, thrifts, 
insurance companies, mortgages, capital markets and 
specialty finance. Sally spent her first 10 years at Goldman 
Sachs as a sell-side research analyst covering U.S. regional 
banking companies. Before that, she was a sell-side 
bank analyst at Brown Brothers Harriman. She began her 
career at Chase Manhattan Bank in 1981, where she was 
a Vice President in capital planning and held positions in 
corporate finance, specializing in financial institutions.  
Sally holds a Bachelor of Science degree in Finance from 
the University of Connecticut and a Master of Business 
Administration degree from the University of Chicago 
Graduate School of Business. She is an in-demand public 
speaker, with experience in giving presentations to boards 
of directors, senior management and leadership, and risk 
management and investment groups. She has frequently 
participated on conference investor panels, has made 
appearances on CNBC, and has been quoted often in the 
financial press. She is a member of the CFA Society New 
York and the CFA Institute and a past President of the Bank 
and Financial Analysts Association.  
Several Board members will be retiring within the next five 
years. The Nominating Corporate Governance Committee 
and the Board of Directors of First Financial Bankshares 
are submitting the names of two proposed board 
members in our proxy for your vote. Both of these young 
professionals have had long-term relationships with our 
Bank, are sitting on regional boards and committees, and 
are successful entrepreneurs who have sold companies in 
the last several years. 
Geoff Haney has an extensive background in agriculture, 
where he started as a trading partner.  He then became a 
Vice President and after that CEO and a Partner at Cape 
and Son, an Abilene-based company with operations in 
multiple agriculture commodity markets and in railroad 
transloading, crude oil, aggregates, frac sand, steel, wind-
energy components, lumber and heavy machinery.  
He is presently Dean of the Johnson School of Business 
at McMurry University. Geoff has a Bachelor of Science 
degree in Agricultural and Applied Economics from Texas 
Tech University. He also attended the Royal Agricultural 
University in Cirencester, England. He is the lead Director 
of First Financial Bank, Abilene Region, and is on the 
Regional Directors’ Loan Committee. He also serves on 
the Bank’s Asset Liability Committee. Geoff has been 
President of the Cottonseed and Feed Association and 

7
A LETTER TO SHAREHOLDERS
A LETTER TO SHAREHOLDERS
6
Chairman of the United Way of Abilene. Presently, he is 
Chairman of the United Way of Abilene Foundation.  
He is also a Director of the Community Foundation 
of Abilene; a member of the Hendrick Medical Center 
Foundation Board and the Nathan Segal Merit Scholarship 
Foundation; and the past Director of West Texas Rehab.  
Geoff received the 2024 Volunteer Service Award from 
the United Way of Abilene and the 2018 Lifetime Service 
Award from the Cottonseed and Feed Association.
Blake Poutra is a visionary technology leader with a proven 
track record of driving exceptional growth and value 
creation. As founder and CEO of Phennecs, he developed 
an industry-leading suite of enterprise data management 
products, scaling up from a bootstrapping company to 
one with over $35 million in annual reoccurring revenue in 
less than three years. This rapid growth culminated in his 
sale of Phennecs to Salesforce (NYSE: CRM), an enterprise 
software company with a market cap of over $250 billion.  
Today, he is the Managing Partner and Principal of Big 
Enrichment (a venture studio), as well as (from 2023) 
Chief Executive Officer of Coennect; the first Center 
of Excellence (CoE) platform, which empowers users, 
removes barriers to adoption and maximizes the value 
derived from enterprise SaaS (software-as-a-service) 
applications. Blake is on the Board of First Financial Bank, 
Greater Houston Region, and the Board of First Technology 
Services, a subsidiary of First Financial Bank. He holds a 
Bachelor of Science degree from Texas A&M University 
and a Master of Science degree from the McCombs School 
of Business at the University of Texas.  
Both gentlemen are highly successful in their lines of 
business and bring a great deal of expertise to the First 
Financial Board, so we encourage you to vote for both       
of them.
Our Director April Anthony has decided to retire from 
the Board at this year’s annual meeting after 10 years 
of service. As a member of the Board and the Audit 
Committee, she has contributed extremely valuable 
expertise and knowledge to our Company. April is CEO 
of VitalCaring Group and a Managing Partner of Anthony 
Family Investments Partners, Ltd. We are certainly sad to 
see April retire, but we appreciate her years of leadership 
and direction, and it has been my immense pleasure to 
work with her through these years.
RECOGNITION
In February 2025, Forbes magazine named First Financial 
Bankshares, Inc. the number three bank in the country 
out of the 100 largest publicly traded U.S. banks and 
thrifts (https://www.forbes.com/lists/americas-best-banks).  
Forbes bases its ranking on nine metrics measuring each 
bank’s growth, credit quality and profitability.  In 2024, S&P 
Global—a provider of critical intelligence such as credit 
ratings, benchmarks and analytics covering the global 
capital, commodity and automotive sectors—ranked First 
Financial Bankshares as the number seven bank in the 
nation (https://ffin.com/top-banks). But these were not the 
only recognitions we received. The Bank, our Regions and 
our people earned many other awards throughout the year 
(see page 18). 
FINANCIAL RESULTS
We are very pleased with our annual results for 2024. We 
finished the year with strong growth in earnings, loans, 
deposits and trusts, and we are encouraged by the 
momentum we gained. For the year ended December 31, 
2024, the Company reported net income of $223.5 million, 
or $1.56 per diluted share, compared with $199.0 million, 
or $1.39 per diluted share for the prior year. This was an 
increase of $24.5 million, or 12.3 percent. Net interest 
income grew $42.9 million, or 11.2 percent, to $426.7 
million from $383.8 million for 2023. The net interest 
margin increased to 3.50 percent in 2024 from 3.29 
percent in 2023.  
The provision for credit losses, including provisions for 
unfunded commitments, totaled $13.8 million, rising $3.2 
million from $10.6 million for 2023. This increase was due 
primarily to strong loan growth throughout the year as well 
as an increase in classified loans. Nonperforming assets 
as a percentage of loans and foreclosed assets totaled 
0.80 percent on December 31, 2024, compared with 0.49 
percent at December 31, 2023. Classified loans totaled 
$233.9 million on December 31, 2024, compared with 
$176.2 million on December 31, 2023. 
Noninterest income increased 14.8 percent to $124.0 
million from $108.0 million in 2023. The increase was due 
primarily to a $7.0 million gain in trust income and a $7.1 
million increase in gains and losses on the sale of securities 
(since we had a $7.1 million loss in 2023 and sold no 
securities in 2024). Noninterest expenses rose 11.4 percent 
to $265.1 million in 2024 from $237.9 million the prior year. 
This was due primarily to a $3.4 million increase in officer 
salaries, a $4.8 million increase in officer incentives, a $2.0 
million increase in medical insurance, and an $8.1 million 
increase in profit-sharing expenses. Officers’ incentives 
and profit-sharing are both based on a formula for growth 
in earnings; since earnings declined in 2023, we had 
a healthy upturn in noninterest expenses in 2024. The 
increase in officer salaries was primarily due to scheduled 
merit-based raises and the addition of new officer positions 
to meet regulatory requirements arising from our being 
over the $10-billion-in-assets threshold.
As in prior years, we outperformed our peer group of banks 
in several key financial metrics. Our return on average 
assets was 1.68 percent compared with 0.83 percent for 
our peers. Return on average equity was 14.51 percent 
versus our peers’ 8.45 percent. Our efficiency ratio, which 
expresses expenses as a proportion of tax-equivalent 
revenues, decreased to 47.23 percent; our peers’ ratio 
came in at a much higher 62.99 percent.  
Total loans at year-end 2024 increased 10.7 percent to 
$7.91 billion from $7.15 billion at the end of 2023. Total 
deposits grew 8.6 percent to $12.10 billion from $11.14 
billion over the same period. Consolidated assets at 
year-end 2024 increased by $873.8 million (or 6.7 percent); 
this gain was fueled primarily by the growth in deposits.
First Financial Trust & Asset Management Company again 
delivered solid results, thanks to a $565.2 million growth 
in the book value of trust assets. Total trust assets under 
management at year-end reached a book value of $8.11 
billion, a 7.5 percent increase from $7.55 billion at the 
end of 2023. The market value of the trust assets grew 
to $10.83 billion, up 10.8 percent from $9.78 billion at 
year-end 2023. Total trust fee income for 2024 grew as 
well—to $47.4 million from $40.5 million—a 17.3 percent 
gain. Within that category, trust and estate fee income 
grew $5.1 million, while oil and gas fee income grew by 
$1.9 million. The trust company’s net after-tax earnings 
increased 19.0 percent to $25.7 million from $21.6 million. 
COMMUNITY AND
NEIGHBORHOOD INVOLVEMENT
Our Bank has always adhered to the philosophy that we 
are only as successful as the communities we serve. To 
become a better bank, we strive to improve the quality 
of life in each of our communities. Besides providing the 
latest in financial services, we participate on local nonprofit, 
civic and church boards, volunteer our time, help raise 
money and contribute in other ways. The work our team 
does every day amazes me. We spotlight their efforts with 
our annual Day of Service, which last year took place on 
October 14th, the Columbus Day holiday. On that occasion, 
we had approximately 1,000 employees serving 63 
agencies and organizations across Texas.
We design our banking products and services to meet 
the needs of all neighborhoods, from the lowest- to the 
highest-income. I am especially proud of our ongoing 
contributions to low-income neighborhoods, where we 
teach classes in financial literacy, homebuying and fraud 
prevention. We also offer classes on how to utilize our 
products and services, including our very competitive free 
checking, savings accounts, affordable home mortgage 
loans and other tailored loan programs.
These loan programs served our markets well in 2024 as 
we made 1,005 of those loans in majority-minority census 
tract (MMCT) markets, in addition to the 1,075 loans in 
2023. In 2024, 25.3 percent of the overall mortgage loans 
were made in MMCT markets.
We attribute the success of our strong market share in 
the majority-minority markets to partnerships we have 
formed with builders, developers, realtors, city leaders 
and nonprofit organizations across our footprint. This is 
the area that Chris Schjetnan, as the new Executive Vice 
President, Director of Community Lending and Outreach, 
will be leading.
A great example of how the Bank can make a big 
difference in low-income areas is the Landmark at Abilene 
redevelopment project. Here, the Bank is partnering with 
the Overland Property Group, the Texas Department 
of Housing and Community Affairs and the Midwest 
Housing Equity Group. We have committed $5.5 million 
to support the historic renovation of the former Travis 
Elementary School into low-income housing units for 
senior citizens. We are nearing completion, and we are 
looking forward to the ribbon-cutting and provision of 
beautiful new apartments for senior citizens. We have 
also made commitments to similar projects in San Angelo 
and Stephenville. All of these efforts were recognized in 
our Community Reinvestment Act exam by The Federal 
Reserve Bank of Dallas this last year when they rated         
us "outstanding".
The Texas economy continues to have strong growth, 
and our Regions mirror that growth in both population 
and diversity. Just like Texas, our Regions mirror the 
communities we serve and I am proud to say that 70 
percent of our workforce are women and 46 percent are 
minorities, which include racial, disabled, and veterans. 
Our goal of serving all neighborhoods and our diverse 
workforce have certainly increased the organic growth 
of our Bank. We continue to add bilingual employees so 
that whether it is in our lobbies or phone center, we can 
increase our customers’ comfort by serving them in their 
native languages. Now I will let David Bailey tell you about 
the future of our Company. Thank you for your ownership. 
F. Scott Dueser 
Board Chair and CEO

9
A LETTER TO SHAREHOLDERS
8
A LETTER TO SHAREHOLDERS
David Bailey
President
L
ed and mentored by some of the best bankers in 
the country, we have embarked on a journey to 
take First Financial Bankshares into the next era. 
We have taken on this task with extreme enthusiasm 
but also with a humble heart, since the Company has 
compiled an impressive track record over its 135-year-plus 
history. Just last year, as Scott Dueser relates in his portion 
of the letter to shareholders, the Company achieved 
substantial balance sheet and income statement growth 
by implementing strategic initiatives that will play a pivotal 
role in preparing the Company for the future. A blueprint 
built for both short- and long-term success, this strategic 
plan will enable First Financial Bankshares to continue 
delivering on the promise of putting “You First.”
REGIONAL CONSOLIDATION
Much of the success we have all experienced as 
shareholders of First Financial Bankshares arises from 
our culture of being “One Bank, Multiple Regions.” Our 
regional banking model not only has driven our growth 
but also has enabled us to provide First-Class Service to 
our customers. To continue our organic growth and be 
able to purchase banks, we had to look for ways to create 
stronger teams, enhance our efficiency, and not sacrifice 
what makes our bank special. In other words, we had 
to continue combining the best of “Big Bank” customer 
benefits with the local decision making and involvement of 
a community bank. 
Throughout this annual report, you will notice a change 
from prior years. After months of planning, we consolidated 
our previous 12 regions into eight motivated regions, 
effective January 1, 2025. These regions are fully aligned 
to the strategic initiatives of the Company and our Mission 
of “building loyal lifelong relationships.” This consolidation 
was about much more than streamlining our operations—it 
brought together seasoned bankers to build management 
teams that will help guide our Company in the next era 
of our history. Following is an outline of these newly 
consolidated regions:
West Texas Region: Representing a diverse economic 
landscape, the West Texas Region, led by the management 
team of Chris Evatt, Rodney Foster and Robert de la Cruz, 
has the largest geographic footprint of any of our regions 
(covering over 280 miles from the southernmost branch to 
the northernmost). The partnering of these markets brings 
together our largest agriculture and oil/gas regions, which 
will look to benefit from their core customer base and from 
the continuously emerging economic activity driven by the 
Permian Basin.  
Cross Timbers Region: At the northern tip of central Texas, 
we find the Cross Timbers Region, led by the management 
team of Justin Hooper, Trent Swearengin and Candi 
Kanady. Within the footprint of its constituent four counties, 
we find some of our longest tenured leaders and oldest 
regions in the Company. Together, they will benefit greatly 
from the substantial investments in higher education, 
residential development and recreation that feed off the 
westward-expanding Dallas–Fort Worth   (DFW) market.
Chisholm Trail Region: The new Chisholm Trail Region, 
led by the management team of Marcus Morris and Austin 
Elsner, embraces its roots in a once highly traveled cattle 
trail to bring a little West Texas into the heart of the DFW 
metropolitan area. As one of our fastest growing regions, 
this market not only is leading our efforts to spur growth 
in underserved housing areas, but also is setting the pace 
in commercial and real estate expansion. Such expansion 
is driving significant and diversified balance sheet growth 
and trust opportunities for the Bank.
Greater Houston Region: Representing some of the 
newest markets in the Bank family, the 
Greater Houston Region is led by the 
management team of Shelley Dacus, 
James Alexander and Chris Baughman. 
This geographically large and diverse 
region—which extends from Huntsville 
in the north to the coastal community 
of Palacios in the south—is a hotbed 
of significant residential growth and 
commercial investment from some of 
the top Fortune 500 companies in the 
country.  Primed with industry-leading 
treasury and wealth management 
solutions, our team is competing very 
favorably in this highly-sought-after 
market of Texas.
These four regions, along with our other four—Abilene, 
Southlake, Bryan/College Station and Southeast Texas—
have strong management teams that are fully aligned with 
one another and with the Company’s management team 
and Board. The individual region pages of this annual report 
highlight all of our management teams further and illustrate 
the vibrant economies and communities we serve.
BRANCH AND 
FOOTPRINT EXPANSION
While we look for ways to expand and improve our 
management teams, we also look for ways we can provide 
higher quality services to our customers through our 
branch network. In the spring of 2024, we opened a new 
state-of-the-art, full-service branch on Highway 21 in Bryan.  
This new branch, which brings retail and commercial 
banking services to the residents of northeast Brazos 
County, replaced a limited-service location inside of a 
convenience store. This new branch investment reflects 
our commitment to always seek ways to provide superior 
service to our customers.
Over the past year, we also invested heavily to transform 
unutilized space in our Abilene operations center into 
a cutting-edge treasury management department, (the 
department had outgrown its previous, downtown 
location). This investment was a direct result of growing 
our commercial deposit base and needing to increase our 
support and service to these valued customers.
To further invest our Bryan/College Station Region, we 
want to expand our presence in Franklin, in Robertson 
County, by identifying a property where we can construct 
a new full-service location. This new branch would replace 
an existing limited-service location in that market. This 
expansion highlights the confidence we have in the growth 
of this region and will further identify us as a leading 
community bank in the area.
To bring better banking services to underserved markets, 
we look forward to breaking ground on a new location 
in the heart of Beaumont. This new location will bring 
much-needed retail and commercial banking services to 
an area of Southeast Texas that lacks adequate banking 
options. Adding the branch will enable us to build upon the 
substantial momentum we have gained in serving small 
business customers and minorities in that market.
Finally, in 2025, we look forward to beginning two 
projects in downtown Abilene. We have acquired a full 
city block across from our main bank location, on which 
we will build a new drive-through location to serve both 
retail and commercial customers. Also, utilizing excess 
capacity in our downtown building, we plan to remodel the 
fourth floor to relocate our holding company team there. 
This will bring the team into the same office space for                            
greater collaboration. 
CONTINUING THE LEGACY
We are excited about the opportunities that exist for First 
Financial Bankshares in each of our markets and in the 
overall Texas economy. As highlighted earlier by Scott, we 
continue to build a team of first-class bankers within our 
Company who will help guide our growth and ensure we 
remain safe, sound and secure. Strengthened by one of 
the best management training programs in the banking 
industry, the regional leaders highlighted in this annual 
report represent the best of the best in Texas banking.  
Another top priority for us this year will be capitalizing on 
the organic growth opportunities in our markets. We must 
drive continued growth in both high-quality loans and 
core deposits to achieve improvement in our net interest 
income. Additionally, with one of the best mortgage teams 
in Texas, First Financial Mortgage looks to take advantage 
of a hopefully improving buyers’ market in Texas to grow 
this important source of noninterest income. Finally, First 
Financial Trust & Asset Management continues to be one 
of the highlights of our organization. Lon Biebighauser, its 
newly promoted President, and his team will partner with 
the Bank to ensure we focus on generational banking for 
our clients and customers. 
With a strong capital position and one of the most highly 
valued publicly traded bank stocks in the country, First 
Financial Bankshares, Inc. is primed to take advantage of 
an improving M&A market within the industry. Recently, 
we have seen multiple bank mergers announced, and 
there seems to be much enthusiasm by investment 
bankers heading into 2025. We will continue to look for 
opportunities to deploy our capital and liquidity in an 
accretive way to find great bank partners that will help fill 
out existing markets for our Company or enable us to enter 
new strategic markets across Texas.
Our team of over 1,500 bankers strives every day to 
achieve our Vision of being the “Undisputed Leader in 
the Financial Industry.” It is truly an honor to be associated 
with the fine people who make up the First Financial 
Bankshares family. We look forward to serving you every 
day and are all extremely excited about the future of         
the Company.

11
Meet Lon Biebighauser, President, First Financial Trust & Asset Management
Meet David Bailey, President, First Financial Bankshares, Inc.
10
D
avid Bailey learned early the values that would shape his career in banking: faith, family, and service to community. As the son of 
two educators, one of whom had previously served as a funeral director, David absorbed these principles in the small town of Clyde, 
Texas, where he spent his entire childhood.
This rural upbringing led Bailey to McMurry University on a physics scholarship, though he would eventually find his calling in finance. The 
catalyst? A memorable experience getting his first car loan at age 15 from People’s State Bank in Clyde, now part of First Financial Bank. The 
loan officer – who would end up working side-by-side with Bailey in the future – made a profound impact on him and his career path.
David met his wife Ashley at McMurry University and knew quickly they would build a life together centered on the values instilled in them 
through their West Texas upbringings. Inspired by their parents, they built a life centered around family values. Both are committed to their 
church and community service and have passed that dedication to their two children.
Bailey’s journey to First Financial Bank wasn’t immediate – it took nine applications before he landed his first position as a teller while still in 
college. From there, he worked his way through various roles: Personal Banker, Credit Analyst, Loan Review Analyst, Commercial Lender, 
Regional President, and most recently, Chief Banking Officer. 
"Every time I think about my success, I think about the people that have supported and sacrificed for me," David reflects, "starting with my 
parents, who instilled in me from an early age the value of personal relationships, service to our community, and graciousness towards 
everyone; my journey in life has been guided by the wisdom of those who support me."
Due to his passion for education and music, Bailey serves as a board member for both McMurry University and for the Abilene Philharmonic. 
He is an avid pianist, playing since the age of six, and has performed in multiple local theatre productions.  Music remains a constant in 
David’s life, serving as both escape and meditation. "Whether it’s in self-reflection, or whether it’s in prayer, it’s always done behind the piano 
or listening to music. That’s where I can truly find rest," he says.
As he steps into his new role as President of First Financial Bankshares, Bailey emphasizes the 
importance of continuing First Financial’s legacy of community banking. "Our bank is only 
as good as the communities we serve," he notes. "It’s our duty to be good stewards of the 
resources that our company has been given to better serve our customers."
For David, success isn’t measured in traditional banking metrics alone. "They’re going to 
remember the numbers we produce as a bank, but they’re also going to remember how 
many people we helped while we produced those numbers," he says. "Service is the 
measure of a life well lived."
This philosophy of service-oriented leadership, grounded in faith and family values, will 
guide Bailey as he leads First Financial Bankshares into its next chapter. "All we can do is 
continue to build upon the great foundation of our company," he says, "working every day 
to improve the lives of our customers, shareholders, employees, and communities."
G
rowing up in the country outside of Graham, Texas, Lon Biebighauser learned early lessons in hard 
work, perseverance, and problem solving that would shape his approach to financial leadership. As 
the new President of First Financial Trust & Asset Management Company, he brings these fundamental 
values, along with 16 years of experience at the Company, to guide the organization’s next chapter.
"I love helping our clients, whatever the need is," Lon says. "Investment management, retirement planning, 
estate planning – I enjoy helping our clients create and build strategies and plans that provide opportunities 
for them and their families." This passion does not just apply to his client relationships. Biebighauser is a firm 
believer in cultivating the lives  of his team members as well.
For Biebighauser, leadership isn’t about ego; it’s about privilege and responsibility. "I feel privileged to be 
entrusted with the oversight of our organization, of our people, and ultimately the impact that it has on our 
clients," he says. "It’s humbling that they have an honest trust in my leadership."
His approach to client service is deeply personal, reflecting the similar nature of trust and asset management. 
"We truly work with generations in the intimate details of their lives," he explains. "We’re involved when clients 
welcome children and grandchildren into their families, in conversations around planning for their future goals 
and needs." This level of involvement often extends beyond financial matters, from attending clients’ weddings 
to hospital visits when the most critical of decisions need to be made. 
A magna cum laude graduate of Texas A&M University with a degree in finance, Lon sees clear parallels 
between the Bank’s mission and community service. "A bank is an economic engine for a community," he 
notes. "Whether it’s on the commercial banking side or wealth management, you’re assisting in building 
businesses and generating wealth that provides opportunities to employ people, which improves lives and 
can assist others in need. Through that, you’re lifting the entire community."
When not focused on client service or community leadership, Biebighauser enjoys outdoor 
activities with his family, including camping, hiking, and working on their land. Married to 
his wife, Christy, for 20 years and raising two children, he maintains the same hands-on 
approach to life that he learned on his family’s land.
Looking to the future, Lon emphasizes the importance of expanding the reach of First 
Financial Trust while maintaining its core values. "We’re not trying to change what we’re 
doing or who we are," he explains. "We’re trying to determine the best ways to get our 
message in front of more people because there are many who need our services."
This balance of growth, tradition, and a deep commitment to servant leadership positions 
First Financial Trust & Asset Management Company for continued success under 
Lon’s guidance.

13
Meet Luke Longhofer, Chief Credit Officer, First Financial Bankshares, Inc.
Meet Marelyn Shedd, CEO, First Financial Bank, Abilene Region
12
L
uke Longhofer’s path to becoming Executive Vice President and Chief Credit Officer at First Financial Bankshares began with 
a fortuitous internship at the FDIC’s Memphis field office. That early experience, suggested by Dr. Anne Macy, an impactful                 
West Texas A&M professor, shaped his passion for community banking.
"I got to see hundreds of banks and just came to understand the importance of community banking," Luke recalls. "It’s the only banking I 
really know and all I want to know."
His time at the FDIC, particularly during the 2008 financial crisis, proved invaluable. "One of the most difficult times, but probably the best 
experience of my life, was working through the financial crisis," he says. "I traveled the country and got to see a lot of what not to do, and 
certainly, along the way, I got to see some banks that did the right things."
Longhofer first became aware of First Financial’s commitment to excellence during his studies at the Southwestern Graduate School of 
Banking at SMU in 2009. "Whenever there was a study across the classroom of who had the best ROA, who had the best efficiency ratio, or 
who had the best net interest margin, First Financial always had the best," he notes.
After this introduction, he joined First Financial in October 2010 as Loan Review Manager. The move wasn’t just about career advancement 
– it was about family. He and his wife Sharra, whom he began dating when they were 15, wanted to raise their children in Texas.
Luke attributes his success to an unwavering work ethic instilled in him by his parents and grandparents while living in Amarillo. "I was 
never going to be blessed with God-given talents," he reflects. "Any success in my life or career 
was going to come from having outworked the person next to me." 
This dedication hasn’t gone unnoticed. In his 14 years with First Financial, Longhofer 
has earned respect throughout the organization for his focused approach and 
commitment to excellence. Now, as Chief Credit Officer, he sees tremendous 
opportunity in First Financial’s future, built on the strong foundation laid by
his predecessors.
 "The most beautiful part about this Company is its foundation," he says. "With our 
balance sheet strength and being located in the greatest state in the country, there 
are so many opportunities ahead." 
When not focused on banking, Luke and Sharra dedicate their time to their two sons 
and youth mentoring initiatives in the community. It’s a natural extension of his belief in 
teamwork, a value he learned through years of competitive soccer. 
"This company depends highly on teammates," Luke explains. "Its success, and 
certaintly my own success, has always been driven by the people 
around me."
F
or Marelyn Shedd, banking has always been about more than numbers. Drawing from her formative years 
as the daughter of missionaries in Mexico City, she learned the value of compassion and service to others. 
Marelyn has spent more than three decades at First Financial Bank, building relationships and strengthening 
the Abilene community.
This foundation of empathy and service, instilled in her by her parents, shapes her approach to banking today. "We 
really can’t be successful unless each of the communities we serve are successful," Shedd reflects. Her philosophy 
of banking centers on a simple but powerful principle: treating customers how you would want to be treated. "It’s 
about being part of somebody’s life to realize goals and make sure they feel like they have a good banker who can 
be an advisor."
Throughout her career, Marelyn has witnessed numerous economic cycles and understands that a community 
bank’s role extends beyond just the positive times. "Banks have to be there for both good times and bad," she 
notes. "Whether it’s a great economy or not, you’ve got to work through some of those times. In those downtimes, 
customers need to feel like they have a partner."
Shedd has significantly impacted Abilene’s growth and development; her banking expertise has helped shape 
the community’s business and residential landscapes. She has guided many thriving local businesses from 
their beginnings, assisted families in realizing homeownership, and played a key role in numerous commercial 
development projects that have transformed the city.
Her commitment to mentorship has helped shape the next generation of banking leaders at 
First Financial. Marelyn takes pride in the Bank’s robust internal development programs 
and its success in cultivating leadership from within. "Our internal training team has 
done such a good job in terms of preparing those coming out of our credit analyst 
program," she says. "It’s been so gratifying to watch." 
Shedd credits First Financial’s unique culture for this success, acknowledging 
the Bank’s emphasis on making employees feel part of the bigger picture 
through initiatives like the 21 Non-Negotiables and regional decision making. 
This approach, combined with strong mentorship and continued education 
opportunities, has created an environment where young bankers can thrive 
and grow into leadership roles. Marelyn also credits each region’s advisory 
board for playing an instrumental role in providing feedback, referrals, and 
collective wisdom from each board member’s area of expertise. 
As she looks to the future, Shedd is enthusiastic about First Financial’s next 
generation of leaders. "I’m excited. We have such talent coming up," she 
says. While she acknowledges feeling occasional melancholy as she 
approaches the later stages of her career, she’s proud to have played 
a role in mentoring the Bank’s future leaders and continuing a legacy 
of service. 
From her first day with the Company, Marelyn has exemplified 
First Financial’s commitment to exceptional customer service 
and community development. She has proven that success 
in banking isn’t just about financial transactions - it’s about 
building lasting relationships and helping others achieve      
their dreams.

15
Meet Sally Pope Davis, Board Member, First Financial Bankshares, Inc.
Meet Kyle McVey, CPA, Chief Accounting Officer, First Financial Bankshares, Inc.
14
F
rom the rural villages of Ghana to the executive offices of First Financial Bankshares, Kyle McVey’s life journey exemplifies the 
unique perspective and tireless work ethic he brings to his leadership role with the Company.
Adopted at an early age and raised by missionary parents in Ghana, Kyle spent his formative years immersed in diverse 
cultures across West Africa. By age 14, he was already displaying his entrepreneurial spirit by managing various agricultural ventures 
and even establishing a successful animal husbandry business that caught the attention of regional officials. This early exposure to 
cross-cultural business dealings and hands-on management would later prove invaluable in his banking career.
After returning to the United States for college, McVey’s work ethic continued to shine. While maintaining near-perfect grades as 
a double major in management and accounting-finance at Abilene Christian University, he worked 35-hour night shifts at Rentech 
Manufacturing. "I didn’t sleep much," Kyle recalls, "but that’s where I learned the value of quality organizations and working my 
way up." His experience at Rentech, where he advanced from tube buffer to certified welder while playing college football and 
maintaining academic excellence, reinforced his belief in the importance of understanding operations from the ground up.
Following graduation and two years with KPMG LLP in Jacksonville, Florida, McVey joined First Financial Bankshares in 2011. Today, 
he oversees the Company’s financial reporting, accounting operations, external audit, and investor relations. Since joining the 
Company, he has been instrumental in driving organizational excellence and cultural transformation. Together with colleagues, 
he helped develop the Bank’s four-pillar approach, which focuses on employees, customers, shareholders, and community. This 
framework, known as the Company’s "21 Non-Negotiables," has become a cornerstone of First Financial’s operational philosophy.
Kyle is particularly proud of the initiatives he’s helped implement to enhance internal communication and team dynamics. As            
co-chairman of First Financial’s Customer Service First program, he has been a driving force 
behind the Bank’s service culture. "We’ve made significant strides in how we build each 
other up inside the organization," he notes. "It’s about helping people understand 
they’re not just fulfilling a function – they need to feel purpose and belonging."
Looking ahead, McVey maintains his characteristic drive for continuous 
improvement. "There is always more work to be done," he says, acknowledging 
that while progress has been made, excellence is a never-ending journey. His 
problem-solving mindset and passion for positive change continue to influence 
the Company’s strategic direction.
Kyle’s unique background, combining international experience with deep, local 
roots, puts him in a position to successfully help guide First Financial’s future 
growth. His commitment to community service is illustrated by his leadership in 
organizing the Company’s Day of Service initiative, which earned the Texas Bankers 
Association’s Cornerstone Award for outstanding community involvement. His 
leadership philosophy, shaped by early experiences and refined through 
years of hands-on work across various industries, emphasizes the 
importance of empowering people while maintaining organizational 
excellence – a balance that will be essential as First Financial continues 
to evolve in an increasingly dynamic financial landscape.
W
ith over three decades of experience at Goldman Sachs and a deep understanding of the banking 
industry, Sally Pope Davis brings a unique perspective to First Financial Bankshares’ Board of Directors. 
Her appointment in early 2024 follows a distinguished career at Goldman Sachs, where she most recently 
served as co-head of the firm’s small-cap value strategy within the asset management division.
"Sally’s extensive knowledge of the banking industry and her investor’s perspective on creating sustainable shareholder 
value make her an outstanding addition to our board," says Scott Dueser, CEO of First Financial Bankshares. "Her long-
term familiarity with our Company and our commitment to excellence will help guide our future growth."
Sally’s relationship with First Financial began in 2006 when, as part of Goldman Sachs’ small-cap value team, she made 
one of her first investment decisions in the Company. "I was impressed with the quality focus of the Company, especially 
asset quality, its strong balance sheet with plenty of core equity capital, and strong reserves," Davis recalls. "It had an 
impressive stable deposit base, excellent profitability and returns, and a focused management team."
Her banking experience spans several economic cycles, beginning at Chase Manhattan Bank in corporate finance and 
capital planning. Throughout her career, she navigated numerous financial challenges, including the savings and loan 
crisis, multiple real estate downturns, the dot-com bubble, and the 2008 Global Financial Crisis.
After a decade as a sell-side analyst covering U.S. regional banks during the transformative 1990s, Sally joined Goldman 
Sachs Asset Management in 2001. Her investment philosophy emphasizes the importance of quality in management, 
balance sheets, cash flow, and returns – an approach that aligns perfectly with First Financial’s banking principles and 
commitment to customer service. 
Looking ahead, Davis sees significant opportunities for First Financial in the state of Texas. "It is 
one of the most dynamic growth and business environments in the country and, therefore, the 
globe, and it is our backyard and our market," she notes. 
Throughout her career, Sally has been guided by two core principles: treating others as you 
would like to be treated and always acting with integrity. These values were introduced 
by her mother, who became the sole household earner and single parent after being 
widowed at a relatively young age. This foundation has inspired Davis’ passion for 
education; for over 25 years, she and her husband have sponsored young women at 
an all-girls high school in New York City, helping them access quality education and    
college opportunities. 
After spending decades in office environments, Sally finds balance through outdoor 
activities, particularly fly-fishing, which she values for its meditative qualities and connection 
to nature. A lifelong commitment to health and wellness keeps her active through swimming, 
cardio, and strength training. 
As First Financial continues to navigate an evolving financial landscape, Sally emphasizes the 
importance of balancing technological innovation with personal relationships. "Banking is an 
amazingly competitive business, and technology continues to break down the barriers for 
new entrants," she observes. "As customer service, relationships, and the human touch 
are such differentiators, even in this age of automation and AI, they should always 
remain a high priority for First Financial."

17
Meet Blake Poutra, Board Member, Greater Houston Region
Meet Geoff Haney, Board Member, Abilene Region
16
F
rom commodity trading to university leadership, Geoff Haney brings a diverse perspective to                     
First Financial Bank. Currently serving as Dean of McMurry University’s School of Business, Haney 
combines agricultural business acumen with a passion for developing the next generation of leaders. In 
addition to his tenure on the Abilene Region board, Geoff is a current nominee for the First Financial Bankshares 
board, where his agricultural background will bring key insights to the Company.
"It was a no-brainer to join the Abilene Region board," Geoff says, regarding his decision to serve. "As both a 
personal and business customer, I’ve experienced firsthand the Bank’s commitment to customer service and its 
drive to help businesses grow. The Bank’s knowledge and expertise helped our companies succeed. Now I feel 
inspired watching the next generation lead the Bank forward."
After studying agricultural economics at Texas Tech University, Haney began a career in agribusiness. This 
formative time in his career taught him the value of building long-term relationships with customers, a philosophy 
that aligns perfectly with First Financial’s approach. "The Bank serves multiple urban and rural regions across 
Texas and the culture of exceptional customer service based on sound financial principles and ethics builds 
generational customers."
Just a few years ago, Haney sold his families agribusiness firm. He now spends his days shaping future leaders at 
McMurry University. "It’s fun to contribute to their personal growth," he says. "Students are eager to learn and do 
things... It’s rewarding to guide them through the process."
Geoff sees exciting opportunities ahead for First Financial as banking evolves beyond traditional services. 
"Innovation continues to shape the way banking is delivered to meet customers’ changing needs", he observes. 
"New offerings, particularly in business technology, show our ongoing commitment     
to customers."
He particularly appreciates First Financial’s commitment to local leadership 
through its regional boards. "Board members need to be leaders in their local 
communities," he explains. "Knowledge of the local community helps guide 
decision-making every day at the Bank."
A father of three, Haney’s world revolves around family, work, and community 
service. The Houston native, who grew up playing sports and taking on 
leadership roles in high school, credits these early experiences with making 
him unafraid to tackle new challenges. 
"All these experiences taught me to look for solutions and embrace new 
opportunities," he says. When not focused on board responsibilities or 
university duties, Geoff enjoys traveling with his family and exploring the 
outdoors, finding joy in watching his children discover new places     
and experiences.
A
successful technology entrepreneur and current nominee to the First Financial Bankshares’ board of directors, Blake Poutra 
brings a unique perspective to the intersection of traditional banking and digital innovation. His experience building and 
scaling technology companies, particularly in the Salesforce ecosystem, offers valuable insights as the Bank continues 
evolving in an increasingly digital world.
"First Financial is in one of the best positions you can be in because it’s built on foundations of relationships, service, and caring," 
Poutra observes. "Technology alone can’t create that foundation. The Bank has these incredible relationships, and now we have the 
opportunity to enhance them through technology."
Blake’s entrepreneurial spirit began when he modernized his father’s printing company. Along the way, he learned valuable 
lessons about small business operations and customer service. This experience led him to develop technology solutions that help 
organizations better serve their customers. This is highlighted in his most recent work with Coennect, a center of excellence platform 
for large organizations.
His approach to joining First Financial’s board was characteristically direct. "I challenged them that if I wouldn’t have an impact on the 
technology front, then I was wasting everyone’s time," he says. "It’s important to see how strong the Bank is but also see the changes 
that need to happen to meet customers’ evolving needs."
Poutra envisions a future where First Financial can provide a comprehensive "customer 360 view" across its various regions and 
product lines. "We need to bring a full view of the customer so we can serve them best," he explains. "It’s about meeting customers in 
the way they want to be met, which looks different in Texas than it does in New York City."
While he generally describes himself as risk-averse, Blake is aggressive in technology 
implementation, which is his area of expertise. As a self-described serial entrepreneur who has 
"had more failures than wins," he brings a valuable perspective on innovation: "You can lose 
by running out of money or by quitting, and there is no quitting."
Outside of his board responsibilities, Poutra’s focus is on family. He coaches his son’s 
baseball team and has created a home environment where practice and family time blend 
seamlessly. This commitment to family mirrors First Financial’s dedication to personal 
relationships in banking.
Drawing from lessons learned from his parents – his mother’s emphasis on education 
and his father’s strong work ethic – Blake aims to help First Financial maintain its strong 
foundation while embracing technological advancement. "It’s about enhancing, not 
replacing, the human connections that make First Financial special," he says.

At First Financial, our service philosophy focuses on exceeding our customers’ expectations. This dedication drives us to acknowledge 
and celebrate our Shining Stars, individuals who consistently demonstrate our mission of building loyal, life-long relationships by 
providing first-class service with personal attention. We take pride in recognizing these outstanding team members each year by 
bringing them together from across the state. 
Our Shining Stars and their guests are welcomed to Abilene each summer for a full day of festivities. In 2024, this included an exclusive 
tour of the Abilene Zoo, as seen in the photo below. In the evening, we host a reception to individually recognize and acknowledge the 
hard work of each Shining Star. The day ends with a gathering at the home of Scott Dueser, who hosts a delightful dinner featuring a meal 
from the renowned Perini Ranch. This dinner is not just a meal, but a celebration of hard work and dedication, where our Shining Stars 
and their families come together to relax and enjoy each other’s company. It’s a special occasion that emphasizes our commitment to 
recognizing the contributions of our employees. We are immensely proud of our 2024 Shining Stars and look forward to continuing this 
wonderful tradition.
19
SHINING STARS 2024
FIRST FINANCIAL BANK 2024 AWARDS
18
CONGRATULATIONS, SHINING STARS!
Abilene: Steve Waller 
Bankshares: Clarke Hudgins 
Bryan/College Station: Rebecca Conn
Cleburne: Jennifer Petrie
Conroe: Luis Bonilla
Eastland: Anabel Alanis
Fort Worth: Pamela Terry
FTS: Willie Towner 
Hereford: Zach Lauer 
Kingwood: Shirley Evans
Mortgage: Vanessa Faz
San Angelo: Mayra Davila 
Shared Services: 
Lending - Kasey Nixon
Treasury Mgmt - Madison Martin 
Southlake: Nathan Williamson
Stephenville: Brittney Whitten 
Sweetwater: Crystal Martinez 
Weatherford: Cameron Holder

FIRST FINANCIAL BANK LOCATIONS
FIRST FINANCIAL TRUST LOCATIONS
Abilene
400 Pine Street, Suite 300
325.627.7100
Beaumont
3515 Dowlen Road
409.600.6460
Bryan/College Station
2445 Harvey Mitchell Pkwy. S.
979.260.2134
Fort Worth
1000 Forest Park Blvd., Suite 200
682.703.6404
Houston (Fulshear)
29818 FM 1093
346.707.6126
Odessa
3555 Billy Hext Road
432.367.8912
Stephenville
2201 W. South Loop
254.918.6262
Sweetwater
201 Elm Street
325.235.6644
San Angelo
222 S. Koenigheim Street
325.659.5987
Abilene ........... 325.627.7000
Acton .............. 817.573.6900
*Addison ............ 972.385.8239
Albany .............. 325.627.7905
Aledo .............. 817.341.5200
Alvarado ......... 817.774.5100
*Austin ............ 512.422.1782
Beaumont ...... 409.600.6456
Boyd ............... 940.683.8760
Bridgeport ..... 940.683.8700
Brock ............. 817.598.2600
Bryan ............ 979.260.2100
Burleson ........ 817.774.5100
Cisco .............. 254.629.6161
Cleburne ........ 817.774.5100
Clyde .............. 325.627.7000
College Station... 979.260.2100
Conroe ............ 936.760.1888
Cut and Shoot .... 936.788.2121
Decatur .......... 940.683.8780
Eastland ......... 254.629.6100
El Campo  ...... 979.543.6441
Fort Worth  ..... 817.410.4979 
Franklin  ......... 979.364.6025
Glen Rose ........ 254.898.6304
Granbury ........ 817.573.6900
Grapevine ...... 817.722.8980
Hereford ......... 806.363.8200
Huntsville ...... 936.295.2224
Katy-Fulshear  .. 281.346.0221
Keller ............. 817.329.8625
Kingwood ...... 281.318.4600
Lumberton ...... 409.751.7122
Magnolia ....... 936.273.4700
Mauriceville ... 409.745.3755
Merkel ........... 325.235.6660
Midlothian ..... 972.723.7150
Mineral Wells .. 940.327.5400
Montgomery .. 936.597.5997
Moran ............ 325.627.7905
New Waverly  .. 936.295.2224 
Newton ......... 409.379.2200
Odessa  ........ 432.367.8900 
Orange ........... 409.883.3563
Palacios ......... 361.972.2585
Port Arthur ..... 409.726.8000
Ranger ............ 254.629.6100
Rising Star ..... 254.629.6703
Roby ............... 325.776.2261
San Angelo  .... 325.659.5900
Southlake ...... 817.410.2915
Spring ............. 346.328.6910
Stephenville ... 254.965.5036
Sweetwater ... 325.235.6600
Tomball .......... 281.523.1380
Trent .............. 325.235.6617
Trophy Club .... 817.329.8615
Vidor ............... 409.769.5413
Waxahachie ... 972.723.7150
Weatherford ... 817.598.2600
Willis  ............. 936.760.1888
Willow Park  ... 817.598.2780
*Mortgage Loan Office
OUR FOOTPRINT
20
21
OUR FOOTPRINT

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)
2015
$6,665,070
$804,986
$100,381
 $0.78
$0.31
–
$6.10
 $15.09
2016
$6,809,931
$837,885
$104,774
 $0.80
$0.35
–
$6.34
 $22.60
2017
$7,254,715
$922,768
$120,371
 $0.91
$0.38
–
$6.97
 $22.53
2018
$7,731,854
$1,053,295
$150,638
 $1.11
$0.41
–
$7.77
 $28.85
2019
$8,262,227
$1,227,197
$164,812
 $1.21
$0.47
2/1 split
$9.03
 $35.10
2020
$10,904,500
$1,678,190
$202,034
 $1.42
$0.51
–
$11.80
 $36.17
2021
$13,102,461
$1,759,224
$227,562
 $1.59
$0.58
–
$12.34
 $50.84
2022
$12,974,066
$1,265,737
$234,475
 $1.64
$0.66
–
$8.87
 $34.40
2023
$13,105,594
$1,498,900
$198,977
 $1.39
$0.71
–
$10.50
 $30.30
2024
$13,979,418
$1,606,560
$223,511
 $1.56
$0.72
–
$11.24
 $36.05
Ten-Year 
Compound
Growth Rate
7.69%
     7.15%
  8.33%
7.17%
8.79%
–
6.30%
9.10%
SELECTED FINANCIAL DATA
IN THOUSANDS (except for share data)
QUARTER
HIGH
LOW
CLOSE
DIVIDENDS
Fourth
$31.58
$22.84
$30.30
$0.18
Third
$33.06
$22.86
$25.12
$0.18
Second
$32.26
$25.01
$28.49
$0.18
First
$38.24
$27.54
$31.90
$0.17
2023 COMMON STOCK MARKET VALUE AND DIVIDEND DATA
NET INTEREST MARGIN
RETURN ON AVERAGE ASSETS
2020
2021
2022
2023
2024
2020
2021
2022
2023
2024
3.79%
3.40%
3.34%
3.29%
3.50%
1.98%
1.89%
1.76%
1.55%
1.68%
Adjusted for stock dividends and splits
QUARTER
HIGH
LOW
CLOSE
DIVIDENDS
Fourth
$44.66
$35.13
$36.05
$0.18
Third
$39.53
$28.35
$37.01
$0.18
Second
$32.73
$27.62
$29.53
$0.18
First
$33.15
$27.06
$32.81
$0.18
2024 COMMON STOCK MARKET VALUE AND DIVIDEND DATA
EFFICIENCY RATIO
2020
2021
2022
2023
2024
45.49%
45.84%
42.80%
47.26%
47.23%
FOR THE YEAR
    2024  
    2023  
% INCREASE
Net Income
$223,511
$198,977
12.33%
Diluted Earnings (PER SHARE)
$1.56
$1.39
12.23%
Dividends Declared
$102,954
$101,396
1.54%
Dividends (PER SHARE)
$0.72
$0.71
1.41%
KEY RATIOS
Return On Avg.  Assets
1.68%
1.55%
Return On Avg. Equity
14.51%
14.99%
Year-End Equity/Assets
11.49%
11.44%
Efficiency
47.23%
47.26%
IN THOUSANDS (except for share data)
AT YEAR-END
2024
2023
% INCREASE
Assets
$13,979,418
$13,105,594
6.67%
Securities
$4,617,759
$4,732,762
(2.43%)
Loans
$7,913,098
$7,148,791
10.69%
Deposits
$12,099,174
$11,138,300
8.63%
Shareholders’ Equity
$1,606,560
$1,498,900
7.18%
Book Value Per Share
$11.24
$10.50
7.05%
Trust Assets (Book Value)
$8,114,970
$7,549,787
7.49%
Trust Assets (Market Value) 
$10,833,914
$9,781,326
10.76%
IN THOUSANDS (except for share data)
NET INCOME (in thousands)
2020
2021
2022
2023
2024
$202,034
$227,562
$234,475
$198,977
$223,511
RETURN ON AVERAGE EQUITY
2020
2021
2022
2023
2024
12.93%
13.31%
16.72%
14.99%
14.51%
AVERAGES - FOR THE YEAR
Assets
$13,324,412
$12,861,262
3.60%
Securities
$4,710,529
$5,098,043
(7.60%)
Loans
$7,516,352
$6,784,352
10.79%
Deposits
$11,482,895
$10,820,730
6.12%
Shareholders’ Equity
$1,539,947
$1,327,827
15.97%
FINANCIAL HIGHLIGHTS
22
23
FINANCIAL HIGHLIGHTS
TOTAL DEPOSITS (in thousands)
2020
2021
2022
2023
2024
$8,675,818
$10,566,488
$11,005,507
$11,138,300
$12,099,174
TOTAL LOANS (in thousands)
2020
2021
2022
2023
2024
$5,171,033
$5,388,972
$6,441,868
$7,148,791
$7,913,098

First Financial Bank is proud to maintain its headquarters in Abilene, Texas. The city of Abilene, incorporated in 
1881, and the Bank, established in 1890, have grown together for over a century. This shared history reflects a 
strong partnership that continues to shape the area’s economic future.
Abilene continues to see significant development activity. Dyess Air Force Base has been selected as one of 
three air bases to host the new B-21 Bomber, reinforcing its critical role in national defense. In 2024, Hendrick 
Medical Center celebrated its 100th anniversary, a milestone made even more meaningful as First Financial 
Bank has proudly served as its banking partner since its inception. Meanwhile, Texas State Technical College is 
expanding its campus with a new 48,000-square-foot facility designed to train students in high-demand fields 
such as diesel equipment technology, electrical line work, HVAC technology, and plumbing and pipefitting. 
Additionally, Abilene was selected as the first location for the largest AI infrastructure project in history. This 
$500 billion initiative will establish critical AI infrastructure across the entire U.S., beginning in Abilene. 
Construction on this data center is close to completion and will host clients from multiple, valuable tech sectors.
First Financial was also able to partner as an investor in the Landmark at Abilene project, a low-income 
housing initiative that repurposed a long-vacant historic school building into 29 units for elderly residents. 
Additionally, the Bank has partnered with the City of Abilene on the Rebuild-ABI program, which supports the 
construction and renovation of affordable single-family homes in designated areas, often revitalizing historic 
neighborhoods. The Region will continue to build on these, and new initiatives, in 2025 under the direction 
of Marshall Morris, who has been elevated to President of the Abilene Region, and former president Marelyn 
Shedd, who was promoted into the role of CEO. 
These efforts underscore the Region’s central role in driving the Company’s continued advancement. With its 
rich history in Abilene and surrounding communities, the Abilene Region is a cornerstone of the Bank’s growth 
strategy. This foundation of shared history, economic collaboration, and community development positions 
the Bank to build on its legacy of prosperity while charting a clear path for future success.
Recently named the number three boomtown in America by 24/7 Wall Street, Bryan/College Station 
continues to be one of the fastest-growing regions in the entire country. This dynamic market, which benefits 
significantly from the expansive growth of Texas A&M University, represents significant opportunities for our 
Company. This area will remain a vibrant hub of growth, driven by advancements in technology, education, 
and business sectors, including the Texas A&M RELLIS campus.
With notable growth in loans and deposits, the Bryan/College Station Region made significant strides in 
2024 and further expanded its market share in this heavily competitive area. The Region also strengthened 
its team with strategic hires in key lending, retail, and treasury management areas. These additions have 
enhanced the ability to serve customers and address emerging market needs effectively. Last year, the 
Region also saw the promotion of Austin Bryan to Regional President. Austin is a seasoned banking veteran 
with generational ties in the Brazos County area that will serve him well in this advanced leadership role.
2024 marked the grand opening of a new banking location on Highway 21 in Bryan. Previously in a 
convenience store endcap, this location was transformed into a state-of-the-art facility, allowing more 
effective retail banking and lending services to customers in Northeast Bryan.
Looking forward, the Bank plans to identify a propery to build a full-service location in Franklin, within 
Robertson County. This initiative signifies the Bank’s commitment to expanding its footprint in growing 
communities and reflects its increasing confidence in residents and businesses in this area. Additionally, 
this area projects a 72 percent population increase over the next 25 years. With the Bank’s expertise in real 
estate construction and development, it stands to capitalize on this growth and further contribute to the 
area’s prosperity.
The Bryan/College Station Region’s strong performance reaffirms its pivotal role in the Bank’s upward 
trajectory. Backed by a skilled team, engaged leadership, and strong community ties, the Region is ready to 
deliver continued success for its customers and communities in 2025.
Executive Officers
Marelyn Shedd
CEO
Marshall Morris
President
Patty Valero
Executive Vice President 
Chief Operations Officer
Evan Harris
Executive Vice President
Janet O’Dell
Executive Vice President
Ryan Parrish
Executive Vice President
Kyle Seaton
Executive Vice President
Director of Corporate Treasury
Regional Board of Directors
Marelyn Shedd
CEO
Ronald D. Butler II
Board Chair
First Financial Bankshares, Inc. 
Katie Alford
President & CEO 
Community Foundation of Abilene
Jeff Blanks
Senior Vice President, COO
Matthews Family Office
Paul Cannon
Shareholder 
President, McMahon, Surovik, Suttle, P.C.
Mark Colman
President
Rentech Boiler Systems
Joe Crawford
President
Abilene Aero, Inc.
Mike Denny
President
Batjer and Associates
Murray Edwards
Principal
The Edwards Group
Geoff Haney
Agricultural Investments
Dean, McMurry University School of Business
Brad Holland
President & CEO
Hendrick Health System
Kirk Massey
Investments
Tyler Sitzes
President
Sitzes Real Estate Holdings, LLC
Leigh Taliaferro, MD
Physician
Anthony Williams
Executive Director of Intercultural 
Engagement & Belonging
Abilene Christian University
Executive Officers
Nora Thompson
CEO &  Board Chair
Austin Bryan
President
Lee Warren
Executive Vice President 
Chief Operations Officer
J. Cal McNeill
Executive Vice President
Melanie Motley
Executive Vice President
Regional Board of Directors
Nora Thompson
CEO & Board Chair
Mike (Duba) Brewer
Tax Assessor Collector
Robertson County
Ronald D. Butler II
First Financial Bankshares, Inc.
R. Sid Cauthorn
President
Westex Bancorp
Ronnie L. Craig
Shareholder
Thompson, Derrig, & Craig CPAs
Charles A. Ellison
Attorney at Law
President and Founder, The Ellison Law Firm
Bobby Gutierrez
President
Gutierrez Ventures, Inc.
Larry B. Hodges, Jr.
President
H&B Investments, LP
Katherine Kleemann
Franchise Owner
Spherion
Sarah Miller
Broker
Engel & Völkers
Jeremy Osborne
Founding Partner
Sago Capital
William L. Rayburn, MD
Chair, Baylor Scott & White Holdings
Physician Executive Advisor 
College Station Region
ABILENE REGION
Abilene  |  Albany  |  Clyde  |  Moran
24
25
BRYAN/COLLEGE STATION REGION
Bryan  |  College Station  |  Franklin
(IN THOUSANDS)
Dec. 31, 2023  
Dec. 31, 2024  
ASSETS
$3,345,085  
$3,253,961  
 LOANS
$1,319,820
$1,400,834
 DEPOSITS
$2,715,790
$2,858,918
(IN THOUSANDS)
Dec. 31, 2023  
Dec. 31, 2024  
ASSETS
$1,014,522 
$1,065,703  
 LOANS
$482,983
$515,763
 DEPOSITS
$769,368
$818,301
Marelyn Shedd
CEO
Marshall Morris
President
Austin Bryan
President
Nora Thompson
CEO &  Board Chair

CHISHOLM TRAIL REGION
Acton  |  Alvarado  |  Burleson  |  Cleburne  |  Fort Worth  |  Granbury  |  Midlothian  |  Waxahachie  
26
27
CROSS TIMBERS REGION
Aledo  |  Brock  |  Cisco  |  Eastland  |  Glen Rose  |  Mineral Wells  |  Ranger  |  Rising Star  |  Stephenville  |   Weatherford  |  Willow Park
The Chisholm Trail is more than a historic cattle-driving route; it symbolizes the pioneering spirit that shaped 
the area’s social and cultural identity. Today, this spirit thrives in the Chisholm Trail Region, encompassing ten 
branches across four counties that remain deeply influenced by their rich history. These communities reflect 
core values – perseverance, commitment, and collaboration – that continue to define life along the trail. 
The Region’s grit and determination are unmatched, with resilient individuals working daily to grow, uplift 
others, and strengthen their communities. Kim Hamilton, a recently retired relationship manager in Cleburne, 
exemplifies this spirit. With 42 years of service, Kim became a cornerstone of her community, serving three 
generations of families in Johnson County. Her dedication and mentorship embody the unique qualities that 
make this area special.
Uniquely positioned at the heart of four rapidly growing counties, the Chisholm Trail Region drives economic 
growth across the Dallas-Fort Worth area. As these communities expand, First Financial bankers are fostering 
collaboration and supporting progress. Partnerships between public and private stakeholders remain 
instrumental in sustaining this momentum. A standout achievement in 2024 was the success of the Region’s 
Majority-Minority Census Tract (MMCT) loan program. Through collaboration with realtors, developers, 
builders, and community leaders, the Region facilitated over 275 such loans. These loans go beyond financing, 
representing the Bank’s commitment to provide all customers access to full-service banking options. The 
Region also worked with counties, city officials, and non-profits to host educational initiatives, including fraud 
prevention workshops, ensuring our communities are informed and empowered.
For over a century, our Bank’s vision has centered on empowering the communities we serve. While 
recognition is not the goal, awards such as Best Bank, Best Mortgage Company, Best Place to Work, and Best 
Loan Officer underscore the meaningful connections and trust built with customers. These accolades reflect 
the commitment of the Region’s local teams to their neighbors and communities.
Looking ahead to 2025, the Region feels inspired by the progress made in 2024. With optimism and 
determination, the Bank remains focused on deepening its impact and fostering continued growth across this 
remarkable region.
The Cross Timbers Region of First Financial Bank encompasses several counties west of the Dallas-Fort Worth 
Metroplex, stretching from Parker County to Eastland County and extending south into Erath and Somervell 
Counties. This area has been characterized by sustained growth fueled by its strategic proximity to Fort Worth, 
a diverse mix of local economies, an increasing number of strong school districts, and expanding higher 
education institutions.
In 2024, the Region saw robust loan demand, spurred by the westward expansion of the Fort Worth area and 
an influx of families relocating to enjoy the area’s thriving communities and schools. Additionally, its appeal as 
a retirement destination, recreational activities at locations such as Possum Kingdom Lake and Lake Leon, and 
ranch properties have contributed to increased deposit growth, construction lending, and mortgage activity. 
First Financial Bank remains a leader in serving these communities and holds a dominant market position 
within the area.
The Region is excited for continued growth in 2025. Tarleton State University in Stephenville marked a 
milestone in 2024 with its largest freshman class ever and a total enrollment of 18,000 students. New projects 
on its campus promise to further enhance the local economy. Plans for a new University of Texas at Arlington 
campus near Aledo and the ongoing expansion of Weatherford College signal rising opportunities in higher 
education. Meanwhile, the development along the I-20 corridor is closing the gap between Fort Worth and 
Weatherford, with significant retail and residential expansion anticipated over the next five years.
The Cross Timbers Region is well-positioned to capitalize on these trends, reinforcing its role as a vital part 
of First Financial Bank’s growth strategy. With a strong focus on community engagement and support for 
local businesses, the Bank is committed to promoting prosperity for all stakeholders involved. By enacting 
a collaborative approach among educational institutions, local governments, and businesses promising 
to create a dynamic and sustainable economic landscape, the continued evolution of the Region presents 
exciting prospects for the future.
Regional Board of Directors
Marcus Morris
CEO
Vianei Lopez Braun
Board Chair
Chief Development Officer
Decker Jones, P.C.
Cathy Altman
Partner
Carrington Coleman, LLP
Smith A. Brownlie III
CPA and Co-Founder
Brownlie & Braden
Ronald D. Butler II
First Financial Bankshares, Inc.
Robert Childress III
Childress Engineers
Murray Edwards
Principal
The Edwards Group
Austin Elsner
President
Walter Hardin III
Real Estate Investments
Mark Hill
Utility Construction Consultant
Tim Lyness
Lyness Construction, LP 
Susan Miller
Co-Founder
M2G Ventures 
Matt Morris
Area President
HUB Fort Worth
HUB International Texas
Mitchell J. Moses
Partner
Duane Morris, LLP
Jack Scott
Bell-Scott Insurance Group
George Williams, Jr.
Williams & Williams Chicken, LLC
Executive Officers
Marcus Morris
CEO
Austin Elsner 
President
Carley Dyck
Executive Vice President
Chief Operations Officer 
Bart Rodgers 
Market President, Granbury
David Moor
Executive Vice President
Russell Phillips
Executive Vice President
Matthew Sylvia
Executive Vice President
Craig Zemarkowitz
Executive Vice President
Regional Board of Directors
Justin B. Hooper 
CEO & Board Chair
Keith Brown 
Prime Building Components, LLC
Ronald D. Butler II
First Financial Bankshares, Inc.
Justin Culberson
Culberson Construction, Inc.
Jim Farrar
Attorney
Adam L. Feriend 
Owner and COO
JRJ Construction, Inc.
J. Bruce Hildebrand, CPA
Retired
First Financial Bankshares, Inc.
Wendell Hollingsworth 
Industry and Economic Development
Mitchel Johnson
Sacramento Energy Resources
West Jones
Ranching and Investments
Candi Kanady
Eastland Division President
Jim Keffer
President
EBAA Iron Sales, Inc.
Kerry Kelley
Kerry Kelley, Inc
Devon Koenig
Owner and CEO
Plexus Healthcare Center
Kevin R. Lackey 
President and CEO
2662 Capital
Stephen E. Milliken
Former President
C.D. Hartnett Company/McLane Express, Inc.
Doug Montgomery 
Texstar Kubota, Inc.
Jim Moylan, Jr. 
Vice President
Motec, Ltd.
Ron Pack 
Ranching and Investments
Trent Swearengin
President
Russ Thomason
Attorney
Mike White, OD 
Retired Therapeutic Optometrist
Executive Officers
Justin B. Hooper
CEO & Board Chair
Trent Swearengin
President
Candi Kanady
Eastland Division President 
Vickie Pettit
Executive Vice President
Chief Operations Officer
Blayne Baley
Market President, Glen Rose
Tim Corzine
Market President, Mineral Wells
Amber Allen
Executive Vice President
Paul Bruns
Executive Vice President
Trent Tidwell
Executive Vice President
(IN THOUSANDS)
Dec. 31, 2023  
Dec. 31, 2024  
ASSETS
$2,460,140 
$2,576,863  
 LOANS
$1,044,547  
$1,148,062
 DEPOSITS
$2,087,844  
$2,220,656
(IN THOUSANDS)
Dec. 31, 2023  
Dec. 31, 2024  
ASSETS
$1,376,313 
$1,521,542  
 LOANS
$1,008,519  
$1,234,199
 DEPOSITS
$1,246,567  
$1,363,157
Marcus Morris
CEO
Austin Elsner 
President
Candi Kanady
Eastland Division President
Justin B. Hooper
CEO & Board Chair
Trent Swearengin
President

29
SOUTHEAST TEXAS REGION
Beaumont  |  Lumberton  |  Mauriceville  |  Newton  |  Orange  |  Port Arthur  |  Vidor
The Greater Houston Region, covering a footprint spanning Kingwood to El Campo and Huntsville to Palacios, 
positions First Financial Bank for strategic growth and increased regional influence, while presenting 
significant opportunities across diverse economic landscapes. 
Montgomery County continues to experience rapid population growth and infrastructure expansion, creating 
a favorable environment for new business and development. Wharton County is leveraging agricultural 
innovation and industrial diversification to drive economic activity, while Matagorda County’s coastal 
resources remain key to advancements in energy and tourism. Fort Bend County, known for its cultural 
diversity and thriving residential areas, is central to driving real estate and commercial investments. Walker 
County is strengthening its education and correctional services to diversify its economy further. Together,
these counties form a healthy economic base primed to benefit from the expansive growth of Houston.
The Greater Houston Region remains dedicated to creating economic inclusion through initiatives such as 
MMCT lending and Affordable Home Mortgages, which enable more families to achieve homeownership. 
By working closely with community partners, the Region has expanded the reach of these initiatives in 
underserved populations, aligning with the Bank’s mission to support sustainable financial growth. 
In 2024, the Region grew by $200 million in loans and achieved $100 million in deposit growth, demonstrating 
its strong performance and alignment with the Bank’s strategic priorities. This success is attributed to the 
steadfast commitment of the Region’s customers, the dedication of its banking professionals, the guidance 
of knowledgeable board members, and adherence to the Bank’s 21 Non-Negotiables. To further support this 
growth, James Alexander has been promoted to Regional President and will continue to collaborate with the 
current management team of Shelly Dacus and Chris Baughman.
As the Greater Houston Region moves into 2025, it will continue to positively influence the Company’s growth. 
With its dynamic economic environment and deep community ties, the area is well-positioned to attract 
businesses, professionals, and investors. Collaboration and support from customers and partners remain 
integral to the Region’s progress, and we look forward to building on this shared success in the year ahead.
The Southeast Texas Region of First Financial Bank serves the Golden Triangle, composed of Orange, 
Jefferson, Hardin, and Newton Counties, which is home to one of the nation’s largest concentrations of 
petrochemical plants and refineries. This economic hub is experiencing an unprecedented surge in industrial 
activity, with over $80 billion in capital projects currently underway. Significant initiatives include the $9.5 billion 
Golden Triangle Polymers project, $10 billion in Liquified Natural Gas developments, and Entergy Texas’ 
$1 billion infrastructure upgrades. These projects strengthen the area’s economic prospects, fueling job 
creation and regional development. 
Southeast Texas is also enriched by the presence of Lamar University and its sister institutions, which 
contribute to workforce development and economic stability. Hospitals across the region, including Baptist 
Hospitals of Southeast Texas, continue to expand their facilities, attracting talent and improving healthcare 
access. Baptist is also investing $40 million in a new cancer center, with additional healthcare developments, 
including a VA hospital, driving economic and community revitalization in the area.
In 2024, the Region demonstrated remarkable financial performance with substantial loan and deposit 
growth, leading to record earnings. The team provided over $200 million in loans across Southeast Texas and 
maintained the top deposit market share in three of the four counties served, holding 40 percent in those areas. 
Jefferson County, where the Bank was ranked second, remains a key focus in future strategic initiatives.
To further solidify its position in Southeast Texas, the Bank is breaking ground on an eighth regional branch in 
Beaumont in 2025. This new location, near Baptist Hospitals of Southeast Texas, supports our commitment 
to enhancing access to banking services in underserved areas. First Financial Bank’s success in the Golden 
Triangle is rooted in delivering exceptional customer service and meeting diverse needs through initiatives like 
MMCT lending and the Affordable Home Loan program. With deep roots in the community, the Bank is well-
positioned to continue as Southeast Texas’ preferred financial institution, fostering the Region’s growth while 
upholding the Company’s proud legacy as a leader in Texas banking.
Executive Officers
Blaine Caillier
President & CEO
Lee Warren
Executive Vice President 
Chief Operations Officer
David LeJeune
Market President, Mid County
TJ Lingle
Market President, Hardin County
Joe Love
Executive Vice President
Regional Board of Directors
Blaine Caillier
President & CEO
Dayna Simmons
Board Chair
CEO/Broker
Dayna Simmons Real Estate
Ronald D. Butler II
First Financial Bankshares, Inc.
Dr. Ray Callas 
Managing Partner
Anesthesia Associates, PLLC
Dr. Snehal Doshi 
CEO
Millennium Medical Group
Jim Gilliam
Founder and Chairman
The HT Group
John Gothia
County Judge
Orange County, Texas
Gary Gragg
Retired
First Financial Bankshares, Inc.
Jessica Hill, CEcD
Project Manager
Entergy Texas, Inc.
Chad Mason
Vice President
Mason Construction
Kevin Williams
Owner
Cypress Bayou Industrial
Jim Wimberley 
Owner
Law Offices of Jim Wimberley
Executive Officers
Shelley Dacus
CEO
James Alexander
President
Chris Baughman 
Conroe President and CEO 
Lee Warren
Executive Vice President
Chief Operations Officer
Jeff Fuechec
Market President, El Campo
Guy Barker
Executive Vice President 
Brian Bonner 
Executive Vice President 
G. Bart Griffith
Executive Vice President
Brandon Zabodyn
Executive Vice President
Regional Board of Directors
Shelley Dacus 
CEO
Robert C. Nickles, Jr
Board Chair
Founder and Executive
Alegacy Group, LLC
David Bailey
First Financial Bankshares, Inc.
Sam Baker 
Retired President
First Financial Bank 
Chris Baughman 
Conroe President and CEO 
Donnie Buckalew
Retired
Automotive Industry 
Dean Burke
Brainbridge Financial Services
Chris deMilliano
Operations Manager
Steely Lumber Company
Candyce F. Dixon
CPA
Dan Dominey
DBD Interests
Robert C. Ernst Jr.
Owner
Ernst Jewelers
Michael Gonzalez 
Principal
The Gonzalez Group
Angela Leviner
Vice President
PAL Realty Inc.
Adam McAlpine
Owner & President
McAlpine Interests
Lance McIntyre
President
DMAC Construction & Development, Inc.
Curtis Montgomery, MD
Physician
Robert Pate
Retired
First Financial Bank
Johnny J. Peet, MD
Woodlands Medical Aesthetics Institute
Blake Poutra
CEO, Coennect and
Managing Partner, Big Enrichment
Randy Roan
Commercial Construction
John Sebastian
Conroe Golf Cars
(IN THOUSANDS)
Dec. 31, 2023  
Dec. 31, 2024  
ASSETS
$1,634,281  
$1,759,673  
 LOANS
$1,304,522  
$1,504,466
 DEPOSITS
$1,369,820 
$1,470,283
GREATER HOUSTON REGION
Conroe  |  Cut and Shoot  |  El Campo  |  Fulshear  |  Huntsville  |  Kingwood  |  Magnolia  |  Montgomery  |  New Waverly  |  Palacios  |  Spring  |  Tomball  |  Willis 
28
(IN THOUSANDS)
Dec. 31, 2023  
Dec. 31, 2024  
ASSETS
$1,012,947 
$1,100,578 
 LOANS
$696,539
$754,255
 DEPOSITS
$862,824
$933,567
Shelley Dacus
CEO
Chris Baughman 
Conroe President and CEO
James Alexander
President
Blaine Caillier
President & CEO

Executive Officers
Chris Evatt
Board Chair & CEO
Rodney Foster
President
Robert de la Cruz
Executive Vice President
Jaye Weishuhn
Executive Vice President 
Chief Operations Officer
Thea Hernandez
Executive Vice President 
Luke Uherik
Executive Vice President
31
WEST TEXAS REGION
Hereford   |  Merkel  |  Odessa  |  Roby  |  San Angelo  |  Sweetwater  |  Trent
Northeast Tarrant County remains one of the fastest-growing areas in the country, driven by significant 
investments in infrastructure, residential projects, and commercial development. Major companies, including 
American Airlines, AT&T, Bell Helicopter, and Coca-Cola Southwest Beverages, contribute to the area’s thriving 
business environment. This dynamic growth is complemented by some of Texas’ top school districts, making it 
a desirable place to live and work. In Wise County, the expansion of Hwy 114 is fueling a surge in residential and 
commercial development. National homebuilders like DR Horton are investing heavily and planning to build 
over 10,000 new homes in the coming years. This residential growth will increase small business development, 
further enhancing the Region’s economic vitality.
In the middle of this strong economic activity is the Southlake Region, which has seven locations spanning 
Southlake and Grapevine in Tarrant County to Bridgeport and Decatur in Wise County. This diverse region 
requires a tailored approach to meet the unique needs of each community. By leveraging localized knowledge 
and insights, the Bank adapts its services to support established businesses and growing residential 
developments, ensuring the right financial solutions are offered to each customer.
In 2024, the Southlake Region experienced substantial growth with an increase of $164 million in deposits and 
$50 million in loans, underscoring the effectiveness of its strategic initiatives. These initiatives emphasized 
the importance of community banking and building strong, meaningful relationships with local customers and 
businesses. By actively engaging with the community, the Region was able to better understand and meet the 
financial needs of its residents.
In 2025, the Bank is poised to build on this momentum. With a revitalized economy and a team dedicated to 
fostering relationships and supporting their communities, the Southlake Region is well-positioned to drive 
growth not only within its area, but also as a key contributor to the overall success of the Company. The 
Region’s growth potential and commitment to excellence will guide it into another prosperous year, solidifying 
its leadership in the financial industry.
The West Texas Region of First Financial Bank covers an extensive and diverse area across Texas’ Western 
Plains and Northern Panhandle. This area is known for its vibrant communities with deep roots in agriculture 
and energy production. It is a vital hub for these industries, contributing significantly to local and national 
economies. As a key exporter, this area of Texas plays an essential role in global markets, facilitating trade in 
various agricultural goods and energy resources, which are critical for sustaining economic activity.
In 2024, the Region expanded across loans, deposits, and net income. Key drivers included net new account 
growth and improved net interest income. Despite intense competition from banks and non-bank entities, 
the Region maintained robust deposit market share, ranking first in many counties. The expanded treasury 
management team and comprehensive product offerings are prepared to enhance deposit growth further.
To support the Bank’s advancement, Rodney Foster was named President of the West Texas Region, joining 
the management team of Chris Evatt and Robert de la Cruz. Foster is a welcome addition to this leadership 
team and brings decades of experience to the Bank’s agricultural group. In his new role, he will also champion 
the efforts of the Bank’s Sweetwater Division.
Looking to 2025, the West Texas Region is well-positioned for further expansion. Stable oil and cattle prices 
provide a strong foundation for growth in these key industries. Angelo State University continues to thrive, 
with enrollment exceeding 11,500 students. Regional hospitals are recruiting specialists and making capital 
improvements, while local school districts are planning bond proposals and expanding facilities. Residential 
development remains active, with new home construction underway in multiple communities. 
The Region’s steady growth, supported by its strategic industries and community investments, reinforces 
its importance to the Company’s long-term success. With a dedicated team, strong leadership, and a 
commitment to serving its communities, the West Texas Region will deliver continued value for shareholders 
now and into the future.
Regional Board of Directors
Chris Evatt
Board Chair & CEO
Liz Albert 
Attorney
Beesley & Albert, PLLC
Ana Artecona
Vice President and Chief Financial Officer
The Housley Group
Donna J. Boatright 
Healthcare and Quality Consultant
Jeff Branson 
General Partner
Williamson-Branson Real Estate
Ronald D. Butler II 
First Financial Bankshares, Inc.
Michael Carlson
Farmer & Rancher
C Bar 2 Cattle
Steve Eustis 
Commercial Real Estate
Ronnie Hawkins
President, Angelo State University
CEO, Hawkins Group
Jay Lawrence
President
MAL Enterprises, Inc.
Steve Lewis, D.V.M.
Consulting Veterinarian
Hereford Veterinary Clinic
Mike Mauldin 
F. Scott Dueser Chair in Excellence in Banking 
Director, Associate Professor of Practice
Rawls College of Business
Texas Tech University
Larry May
May and Hrbacek CPAs
Reagon Noble, D.D.S., M.S.
Noble McClintock Orthodontics
Sally Noyce
Human Resources Manager
Panhandle Express, LLC
Elizabeth Pfluger White 
Investments
Thomas L. Rees Jr.
Rees, Rees & Fuller Attorneys
Carlos Rodriguez
Attorney
Webb, Stokes and Sparks
Cheyenne Smith
Owner
West Texas Rock Resources
Mary Jane Steadman
Attorney
Real Estate Investment Management
Jerry Stevens
Owner
Stevens 5-Star Car and Truck Center
Johnny E. Trotter
President and CEO
Livestock Investors, Ltd.
Executive Officers
Shelby Bruhn
Board Chair, President & CEO
Carley Dyck 
Executive Vice President
Chief Operations Officer
Dave Monaghan
Market President, Trophy Club
F. Mills Shallene 
Market President, Wise County
Chris Cregger
Executive Vice President 
Isbet Najera
Executive Vice President
Tracie Talkington
Executive Vice President
Regional Board of Directors
Shelby Bruhn
Board Chair, President & CEO
Ronald D. Butler II
First Financial Bankshares, Inc
Traci Bernard
President
Texas Health Southlake
William Ray Cook, Jr., CPA
Cook, McDonald & Company
T. Mikal Darden 
President
Greater Metroplex Interiors Inc.
J. Bruce Hildebrand, CPA
Retired
First Financial Bankshares, Inc
Martin W. Schelling
Real Estate Development
Berry White
Attorney
Berry White Law Firm, PLLC
Terry Wilkinson
Wyndham Properties, Ltd.
SOUTHLAKE REGION
Boyd  |  Bridgeport  |  Decatur  |  Grapevine  |  Keller  |  Southlake  |   Trophy Club
30
(IN THOUSANDS)
Dec. 31, 2023  
Dec. 31, 2024  
ASSETS
$950,760  
$1,132,290  
 LOANS
$611,664  
$661,151
 DEPOSITS
$840,501  
$1,005,116
(IN THOUSANDS)
Dec. 31, 2023  
Dec. 31, 2024  
ASSETS
$1,741,726 
$1,795,466  
 LOANS
$685,084 
$692,948
 DEPOSITS
$1,517,861 
$1,557,441
Shelby Bruhn
Board Chair, President & CEO
Robert de la Cruz
Executive Vice President
Rodney Foster
President
Chris Evatt
Board Chair & CEO

33
Appraisal Services
Real estate values continue to fluctuate in response to changes in the cost of capital in the market.  In addition, recent increases in construction 
and operating costs have contributed to the volatility. Our customers need reliable information to support their homeownership and real 
estate investment decisions. Accurate data is essential for navigating an unpredictable market, ensuring clients make informed choices. 
The Real Estate Appraisal department has focused on ensuring clients receive credible appraisals to support their decision-making process. 
We employ a comprehensive approach that includes market analysis, property condition assessments, and an understanding of local 
economic indicators to provide consistent and trustworthy valuations. By equipping our clients with up-to-date appraisals, we empower 
them to make decisions that align with their financial goals and market conditions.
Customer Care Center
Over the past year, our Customer Care Center has shown exceptional performance and a strong commitment to customer satisfaction. 
We successfully managed over 1.25 million customer calls and achieved an impressive customer satisfaction rating of 93.3 percent. Our 
focus on enhancing security and efficiency led to the enrollment of 49,000 customers in our First Pass voice verification system. This 
tool has significantly increased account protection against fraud and reduced service times for enrolled customers. Additionally, we 
implemented a robust spoof-blocking protocol that effectively prevents unauthorized individuals from spoofing our service numbers in 
attempts to commit fraud. These advancements highlight our unwavering commitment to providing secure, efficient, high-quality service 
to our valued customers.
Human Resources
The Human Resources team is actively monitoring the changes in the labor market to maintain our competitive edge and establish ourselves 
as the employer of choice in all markets. This involves thoroughly analyzing the evolving needs and expectations of current employees 
and potential candidates. We have conducted a comprehensive review of our benefits package, including assessing our existing benefits 
and identifying new trends and innovations in employee benefits. We aim to align our benefit plans with what employees and candidates 
consider essential. To achieve this, we are integrating new offerings that cater to the diverse needs of our workforce; for example, in 2024, 
we introduced new and enhanced supplemental coverages. Additionally, we are committed to connecting with a diverse talent pool by 
participating in job fairs, leveraging social media, and forming partnerships with educational institutions.
Retail Banking
Retail Banking remains a cornerstone of our business operations, driving our commitment to excellence and growth. At year-end, deposits 
and repurchase agreements reached $12.16 billion, reflecting a growth of 5.56 percent from 2023. This year, we launched leadership training 
programs aimed at enhancing employee development and improving retention among retail employees. Additionally, we undertook a 
thorough review of the roles and responsibilities within our retail teams. This strategic refinement promotes enhanced collaboration and 
alignment, allowing our workforce to operate seamlessly across all eight regions. Staying true to our commitment, we prioritized fraud 
prevention as a critical focus area. In 2024, the retail frontline successfully identified and prevented over $3 million in fraudulent items 
presented at teller lines. 
Training
The Training team is actively working on the rollout of a new account platform that reduces the time required to open new accounts by 50 
percent. This tool enhances the customer experience and allows our bankers to dedicate more time to build relationships and focus on 
financial planning and growth goals for our customers. This platform is active in the Abilene Region and will be introduced to the remaining 
regions in 2025. This year, we led multiple Manager-to-Leader trainings focused on developing leaders who can understand and inspire 
multigenerational teams. The Training team also played a crucial role in creating and introducing our new First Checking account, which 
is designed to simplify banking for parents and their young children. Additionally, we continue to work closely with our Internal Audit team 
to ensure our processes are effective, efficient, and compliant.
Monica Houston
Executive Vice President 
Training
Property Management
Our newest branch, located at 1622 N. Earl Rudder Freeway in Bryan, Texas, opened in the spring of 2024. Previously situated in a 
convenience store end cap, this branch can now better serve the growing needs of the community. With the expanded space, this location, 
which was formerly only a depository branch, is now able to offer lending products as well. We are also continuing renovations at our 
Operations Center in Abilene. This back-office location plays a crucial role in the Company’s growth. In 2024, we began remodeling this 
space to accommodate our Treasury Management team, which officially relocated there in early 2025. As the Bank expands, we are 
constantly seeking new and improved ways to support that growth. Upcoming projects include a new motor bank for our flagship location 
in downtown Abilene and two new full-service branches, one in Beaumont and the other in Franklin.
Gary Milliorn
Vice President 
Property Manager
Community Lending and Outreach
Our Relationship Managers and Mortgage Loan Originators continue to be the engine for providing accessible homeownership options 
across our footprint. Our team originated over 3,400 HMDA-reportable loans in 2024, of which 26.31 percent were in MMCTs. Our 
bankers work with customers, referral sources, centers of influence, churches, public entities, and non-profit organizations daily to 
connect with traditionally underserved communities by offering various financial education, fraud, and credit counseling courses. Our 
MMCT and Affordable Home Mortgage programs, which provide access to mortgage lending options for individuals who might not 
qualify through traditional loan channels, continue to set the standard in the industry. We have originated over 1,400 specialty home loans 
since we launched the programs two years ago. With these loans in our product suite, we can be the Bank of choice for our customers’ 
credit and deposit needs while focusing on building generational relationships. We are honored by the ability to support the dream of 
homeownership and provide access to low-cost banking products. 
Chris Schjetnan
Executive Vice President
Community Lending & Outreach
Treasury Management
We began 2024 with the realignment of our Sales Management team, when Daniel Neely returned to the Bank to lead our sales team. 
Daniel’s depth of product knowledge and sales experience has helped us increase the reach and influence of our sales team. A significant 
initiative for 2024 focused on automation and process improvement. We closely examined existing processes and tasks to see what 
could be automated using workflows, allowing for better tracking and eliminating the potential for human error. To further strengthen our 
product suite, we partnered with several FinTechs and our digital banking provider to introduce new tools to fit the diverse needs of our 
businesses. We have reactivated our participation in the IntraFi deposit network and, in 2024, placed over $1 billion in total reciprocal 
deposits. Lastly, we converted our wire processing system to prepare for the Federal Reserve Bank’s change in early 2025.
Andrea Smiddy-Schlagel
Executive Vice President
Treasury Management
Consumer Lending
In 2024, our Relationship Managers achieved a record-setting production year. Fueled by a comprehensive range of products and a 
robust Texas economy, we surpassed $1.3 billion in total originations for non-real estate and in-house real estate loans, an 18 percent 
increase compared to 2023. This growth was accomplished by closing 10,228 consumer non-real estate loans and 3,246 in-house real 
estate loans. The Consumer Lending Line of Business consists of 55 Consumer Relationship managers. This team offers diverse personal 
lending products tailored to meet various consumer needs. Our offerings include auto purchases and refinances, home equity loans, 
interim construction loans, and bridge loans, all designed to support consumers at different stages of their financial journeys. Additionally, 
we provide medical and professional loans, land and lot loans, as well as MMCT loans and options for affordable home lending, ensuring 
that we cater to a broad spectrum of borrowers, including those who may not have access to traditional financing methods.
Michael Wolverton
Executive Vice President
Consumer Lending
Middle Market Banking
In 2024, the newly formed Middle Market group had a successful introductory year. We are well-prepared to support the Bank’s growing 
needs and the evolving demands of our business customers. Our team developed a precise and targeted strategy to expand new and 
existing relationships in credit services and Treasury Management. We worked closely with representatives from each region to thoroughly 
explore and identify potential growth opportunities to acquire new clients. Additionally, we established the Bank’s Interest Rate Swap 
program to better serve our customers. Furthermore, we streamlined our participation desk to enhance and improve the Bank’s ability 
to grow both new and existing relationships.
Dan Summerford
Executive Vice President
Middle Market Banking
Marketing
The Marketing team concentrated on driving meaningful growth by launching targeted, multi-channel campaigns that emphasized the 
unique benefits of banking with First Financial. We continuously seek new and innovative methods to showcase our value proposition 
of providing the resources, products, and services of a large bank, while delivering the personalized customer service of a local bank. In 
2024, we began a redesign of our website, FFIN.com, which is set to launch in Spring 2025. Marketing remains an essential collaborator 
across all lines of business, and we partner with each team to roll out innovative products and services. A notable achievement in 2024 
was the introduction of our new First Checking account, tailored to encourage smart financial decisions from a young age. Using a 
combination of social media, traditional marketing channels, and community outreach, we have focused on expanding our marketing 
efforts in traditionally underbanked areas. Through these concerted efforts, we aim to expand our reach across the First Financial footprint.
Violet Watson Griggs
Senior Vice President
Marketing
LINE OF BUSINESS EXECUTIVES
32
LINE OF BUSINESS EXECUTIVES
Josh Brown
Senior Vice President 
Human Resources
Brandon Harris
Senior Vice President
Appraisal Services 
Lori Hill
Executive Vice President 
Retail Banking
Frank Gioia
Senior Vice President
Customer Care Center

35
FIRST TECHNOLOGY SERVICES, INC.
Troy Fore
President
Janet O’Dell
Executive Vice President
Abilene
Ryan Craig
Executive Vice President
Addison
Kami Graves
Executive Vice President
Southlake
Bobby Brennan 
Senior Vice President
Conroe
Irene Green
Senior Vice President
Austin
Arlette Saucedo
Assistant Vice President
Southeast Texas
Board of Directors
John Ruzicka
Board Chair, President & CEO
First Technology Services, Inc.
Executive Vice President and CIO
First Financial Bankshares, Inc.
April Anthony
CEO, VitalCaring Group
Managing Partner
Anthony Family Investment Partners, Ltd.
David Bailey
President
First Financial Bankshares, Inc.
Ronald D. Butler II
Executive Vice President 
Chief Administrative Officer
First Financial Bankshares, Inc.
F. Scott Dueser 
Board Chair & CEO
First Financial Bankshares, Inc.
Carley Dyck  
Executive Vice President
Chief Operations Officer
First Financial Bank, Chisholm Trail and
Southlake Regions  
Ronnie Hawkins
President, Angelo State University 
CEO, Hawkins Group 
Michelle S. Hickox 
Executive Vice President
Chief Financial Officer
First Financial Bankshares, Inc. 
Lori Hill
Executive Vice President, Retail
First Financial Bank
Monica Houston
Executive Vice President, Training 
First Financial Bank
Matthew Melbourne  
Executive Vice President
Chief Operations Officer
First Financial Trust & Asset Management Company
Blake Poutra 
CEO, Coennect
Managing Partner, Big Enrichment
Andrea Smiddy-Schlagel
Executive Vice President, Treasury Management
First Financial Bank
Trent B. Swearengin 
President
First Financial Bank, Cross Timbers Region
Clay Trumble
Executive Vice President, Credit Administration
First Financial Bank
Lee Warren
Executive Vice President
Chief Operations Officer
First Financial Bank, Bryan/College Sation, 
Greater Houston and Southeast Texas Regions
The First Financial Mortgage team successfully assisted 1,367 individuals and families with their home 
financing needs in 2024, totaling $448 million in originations, representing a 10 percent increase from the 
previous year.
Long-term interest rates remained elevated throughout most of the year, resulting in only a slight 
improvement in housing demand compared to the previous year. However, the supply of homes did 
increase in 2024, which was welcome news. The Texas housing market continues to grow alongside a 
strong Texas economy.
The American Dream of homeownership has consistently proven to be a valuable asset, helping to 
build net worth and leaving a lasting family legacy. First Financial Mortgage offers a comprehensive 
range of mortgage products to meet each of our customers’ unique financing needs. We are committed 
to expanding our outreach to underserved markets by providing affordable mortgage loan products. 
These offerings give many first-time homebuyers access to financing, helping them achieve their dream         
of homeownership. 
First Financial Mortgage is well-positioned in some of the fastest-growing housing markets in Texas. Our 
team of mortgage professionals is dedicated to accommodating our customers’ specific needs and 
carefully guiding them through the homebuying journey.
Total Closed Loans: 
1,367
Total Dollar Amount: 
$448M
Average Loan Amount:
$328K
Average Closing Per Day:
 5 
Tammie Harding
Executive Vice President
Fort Worth
Dell Seiter
Senior Vice President
Bryan/College Station
In 2024, First Technology Services made significant strides to improve existing technologies, introduce 
innovative services and functionalities, and strengthen defenses against increasingly sophisticated 
fraud tactics.
For our 140,000 retail digital banking users, we completed an update to enhance the overall user 
experience. We partnered with a leading financial authentication company, further securing how our 
customers conduct their banking transactions. Additionally, we integrated safety measures that provide 
continuous monitoring and alerts to stay ahead of ever-evolving fraud threats. These new systems offer 
significant safety measures and are frictionless for the end user.
We are especially enthusiastic about the tools we have integrated into online and mobile banking to 
support financial wellness. SavvyMoney, a state-of-the-art credit score tool, and Financial Tools, which 
breaks down spending by category and simplifies budgeting, are both great resources we proudly offer 
free of charge to all digital banking users. Most recently, we partnered with Intuit TurboTax to offer our 
customers 10 percent off all federal products and to host an exclusive Ask the Expert webinar.
In our commitment to support First Financial employees, we focused on enhancing our back-office 
systems and technologies. We continue to introduce innovative and advanced workflows that streamline 
daily tasks.
First Technology Services aims to improve the First Financial customer experience and enrich the 
working environment for our dedicated employees. Looking ahead, we are filled with anticipation for the 
advancements that 2025 will bring. We are excited to explore new strategies that will allow us to enhance 
our services and further transform the financial landscape.
John Ruzicka
Board Chair,
President and CEO 
Isabel Montoya
Executive Vice President
Deposit Operations
Cynthia Suarez
Executive Vice President
Chief Information 
Security Officer
Maggie Tuschinski
Executive Vice President
Chief Digital Officer
David Weems
Senior Vice President
Chief Operations Officer
Larry Williams 
Senior Vice President
Technical Architecture
Michael Greenhaw 
Senior Vice President 
Senior System Analyst
Mark Koehler
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
FIRST FINANCIAL MORTGAGE
34

Executive Officers
Lon Biebighauser
President
Matthew Melbourne
Executive Vice President
Chief Operations Officer 
Christopher N. Montoya
Executive Vice President
Manager, Equities
Bill Rowe
Executive Vice President
Manager, Fixed Income
Board of Directors
F. Scott Dueser
Board Chair
First Financial Bankshares, Inc. 
Kirk W. Thaxton
Board Vice Chair
First Financial Trust
Katie Alford
President & CEO
Abilene Community Foundation
David Bailey
First Financial Bankshares, Inc. 
John L. Beckham
Attorney
Beckham, Rector and Eargle L.L.P. 
Sally Pope Davis
Retired
Goldman Sachs 
Managing Director and Portfolio Manager 
Kendall Hirschfeld
Managing Member
DLH Resources LLC
5H Family LLC 
Jay Lawrence
President
MAL Enterprises, Inc.
Mark K. Rich
Director of Investments
Kimbell Art Foundation
Susie S. Stalcup
Partner
Elm Creek Ranch CR106, LLC
Office Managers
2020
2021
2022
2023
2024
$5,398
$5,880
$6,927
$7,550
$8,115
Trust Assets - Book Value (in millions)
$0
2020
2021
2022
2023
2024
$29.53
$36.15
$40.00
$40.46
$47.45
Trust Fees (in millions)
2020
2021
2022
2023
2024
$14,471
$17,723
$20,857
$21,624
$25,724
Trust Net Income (in thousands)
Zach Reyes
Executive Vice President
San Angelo
David Castleberry
Executive Vice President
Stephenville
Ed Fussa
Senior Vice President 
Houston
Konrad S. Halbert
Regional President 
Fort Worth
Bradley D. Brown
Senior Vice President 
Beaumont
Wayne Chowning
Executive Vice President
Sweetwater
Jeff Wind
Senior Vice President 
Bryan/College Station
Lon Biebighauser
President
First Financial Trust
First Financial Trust & Asset Management Company delivered excellent results in 2024. Total 
assets under management at year-end had a book value of $8.11 billion, a 7.5 percent increase 
from $7.55 billion at the end of 2023. This year marked the first time to exceed $10 billion in 
market value with assets totaling $10.83 billion for 2024, a gain of 10.7 percent from $9.78 billion 
in 2023. For the year, total fee income increased 17.3 percent to $47.4 million from $40.5 million 
in 2023, and net earnings after tax increased 19 percent to $25.7 million from $21.6 million.
For the year, our revenue from oil and gas management totaled $8.2 million. This was $1.9 
million more than in 2023 and $907 thousand more than the second-best year in 2022.
The Trust Company’s investment performance continues to be strong across all portfolio 
styles. The best performing portfolio was Strategic Growth, which had a return of 34.8 percent, 
followed by our Core portfolio, which had a return of 22.6 percent. In a continued challenging 
environment for fixed income, our taxable and tax-free bond portfolios had excellent returns, 
comparing favorably with their benchmarks.
We continue to have good growth in all our markets with Bryan/College Station and Beaumont 
leading the way in net earnings growth for 2024, increasing 309.8 percent and 42.7 percent, 
respectively. Additionally, we were positive in all segments of our business with the growth in 
our investment and wealth management segment leading in all facets. 
As we look to the future, I am confident that our team is poised to continue to deliver the 
service, strategies, and solutions that impact our clients’ lives and futures and ensure the 
continued success of First Financial Trust. If we are not already serving you, I invite you to make 
an appointment and see the impact that our team of servant leaders can make in your family’s 
financial future.
FIRST FINANCIAL TRUST & ASSET MANAGEMENT COMPANY
Abilene  |  Beaumont  |  Bryan/College Station  |  Fort Worth  |  Houston  |  Odessa   |  San Angelo  |  Stephenville  |  Sweetwater 
36
37
FIRST FINANCIAL TRUST & ASSET MANAGEMENT COMPANY
Brent Miller passed away on Wednesday, May 15, 2024, at the age of 54, in his home in Katy, Texas. A 
dedicated scholar, he graduated from Millsaps College in Mississippi before pursuing his law degree at 
Mississippi College School of Law.
Brent Miller joined First Financial Trust & Asset Management Company in November of 2018 to 
manage the Houston location. Brent was an incredible teammate and truly lived by our Customer 
Service First philosophy. He was loved and respected by employees and clients alike. 
He was a faithful member of his church and had a special talent for speaking. Brent was also known 
for his hard work and love of tinkering. Whether he was building his career, honing his woodworking 
skills, or repairing cars, he found joy in the process of learning and creating. Brent’s curiosity was 
matched only by his talent for trivia, of which he was a formidable opponent; Brent always loved a 
good challenge.
Our thoughts, prayers, and sympathy continue to be with his loving wife, Kristen, and their two children, 
Mary Clare and Mac, along with many other cherished friends and family. Brent is dearly missed by all 
who knew him. His passion for life, knowledge, and love for others has left a lasting impact on those 
fortunate enough to have crossed his path.
REMEMBERING THE LIFE OF BRENT MILLER
JULY 22, 1969 - MAY 15, 2024

Executive Team
ANNUAL MEETING
Tuesday, April 29, 2025
Abilene Convention Center 
1100 N. Sixth St.
Abilene, TX 79601
10:30 a.m., or via livestream at
ffin.com/live-events
TRANSFER AGENT  
Continental Stock Transfer & 
Trust Company 
212.509.4000
www.continentalstock.com
FOR FINANCIAL AND  
INVESTOR INFORMATION: 
Michelle S. Hickox 
Executive Vice President 
Chief Financial Officer 
325.627.7361
CORPORATE OFFICE  
400 Pine St. | Suite 310
Abilene, TX 79601
325.627.7038
Corporate Information
SEND CERTIFICATES FOR 
TRANSFER AND ADDRESS 
CHANGES TO:
Continental Stock Transfer & 
Trust Company
1 State Street, 30th floor
New York, NY 10004
CORPORATE MAILING 
ADDRESS  
P.O. Box 701
Abilene, TX 79604
ADDRESS SHAREHOLDER 
INQUIRIES TO:
Continental Stock Transfer & 
Trust Company
1 State Street, 30th floor
New York, NY 10004
INDEPENDENT  
PUBLIC AUDITORS  
Ernst & Young LLP
Dallas, TX
NASDAQ:  FFIN
www.ffin.com
Senior Team
Keith Morton
Executive Vice President
Credit Administration
David Bailey 
President
Ronald D. Butler II
Executive Vice President 
Chief Administrative Officer
Brian Goodrich
Executive Vice President
General Counsel
Luke Longhofer
Executive Vice President
Chief Credit Officer
Lon Biebighauser
President
First Financial Trust
John Ruzicka
Executive Vice President 
Chief Information Officer
Randy Roewe
Executive Vice President 
Chief Risk Officer
F. Scott Dueser
Board Chair 
and CEO
Kyle McVey, CPA
Executive Vice President 
Chief Accounting Officer
Michelle S. Hickox
Executive Vice President
Chief Financial Officer
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, 2024, deposit information compiled by the Federal Deposit Insurance Corporation.
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: Murray Edwards, Chairman
5. Risk Committee: Robert C. Nickles, Jr., Chairman 
6. Bank Directors’ Loan Committee: Murray Edwards, Chairman
F. Scott Dueser
Board Chair and CEO 
First Financial Bankshares, Inc.
Year: 1991
Committee: 1
April Anthony
CEO, VitalCaring Group, 
Managing Partner
Anthony Family Investment 
Partners, Ltd.
Year: 2015, Committee: 2
Vianei Lopez Braun
Chief Development Officer 
Decker Jones, P.C.
Year: 2020
Committee: 3,4,5
David L. Copeland, CPA 
President, SIPCO, Inc. and
Shelton Family Foundation
Year: 1998
Committee: 1,2,4,5
Mike Denny
President
Batjer and Associates
Year: 2019
Committee: 2,6
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
Murray Edwards 
Principal
The Edwards Group
Year: 2006
Committee: 1,4,5,6
Sally Pope Davis
Retired 
Goldman Sachs 
Managing Director and 
Portfolio Manager
Year: 2024, Committee: 5
Robert C. Nickles, Jr. 
Executive Chairman
Alegacy Group, LLC
Year: 2019
Committee: 1,4,5
Kade Matthews 
Ranching &
Investments
Year: 1998
Committee: 3,5
Javier Jurado
Executive Vice President
Chief Audit Executive
Mike Parker
Executive Vice President
Chief Compliance Officer
Eric Bonnell 
Senior Vice President 
Enterprise Risk Management
39
FIRST FINANCIAL BANKSHARES & FIRST FINANCIAL BANK DIRECTORS
FIRST FINANCIAL BANKSHARES CORPORATE INFORMATION
38
Rett Everett
Executive Vice President
Credit Administration
Johnny E. Trotter  
President and CEO
Livestock Investors, Ltd.
Year: 2003
Committee: 1,3,4

Cover Art:
H.C. Zachry is an artist, businessman, and community advocate in Abilene. 
www.zachryart.com
400 Pine St., Abilene, TX  79601  |  325.627.7038  |  ffin.com