Business
FIRST FINANCIAL ANNOUNCES CONVERSION OF THE BANK AND TRUST COMPANY TO STATE CHARTERS AND BOARD ELECTION AT ANNUAL MEETING
ABILENE, Texas, April 23, 2024 /PRNewswire/ -- First Financial Bankshares, Inc. (NASDAQ: FFIN) – today announced at it's 2024 Annual Shareholders' Meeting
About this update from First Financial Bankshares, Inc.
[{"type":"text","content":"ABILENE, Texas, April 23, 2024 /PRNewswire/ -- First Financial Bankshares, Inc. (NASDAQ: FFIN) – today announced at it's 2024 Annual Shareholders' Meeting that its subsidiaries, First Financial Bank, N.A. (the \"Bank\") and First Financial Trust and Asset Management Company, N.A. (the \"Trust Company\"), have each successfully converted their charters to a Texas state banking association and a Texas chartered trust company, respectively. The Bank has been a national bank since its inception in 1890 and the Trust Company has been a national trust company since its inception in 2003.\n\n\"We will continue to put the customer First and to operate under our One Bank, Twelve Regions Concept,\" said F. Scott Dueser, Chairman, President and CEO of First Financial. \"We think the charter conversions make the most sense for the Company and its shareholders moving forward and we are excited to be true Texas entities. We expect the conversions will lead to better communication with our regulators,\" added Mr. Dueser.\nThe conversions were successfully completed on April 22, 2024, and the Bank is now a Texas banking association chartered and regulated by the Texas Department of Banking and the Trust Company is now a Texas trust company chartered and regulated by the Texas Department of Banking. The Bank will continue to be a member bank of the Federal Reserve System and maintain FDIC deposit insurance.\nAt the Annual Shareholders' Meeting, shareholders elected eleven existing members to the Board of Directors. The elected directors are April Anthony, CEO of VitalCaring Group and Managing Partner, Anthony Family Investment Partners, LTD, Dallas; Vianei Lopez Braun, Attorney, Decker Jones, P.C., Fort Worth; David Copeland, President, SIPCO, Inc., and Shelton Family Foundation, Abilene; Mike Denny, President of Batjer and Associates, Inc., Abilene; Scott Dueser, Chairman, President and CEO of First Financial Bankshares, Abilene; Murray Edwards, Principal, The Edwards Group, Clyde; Eli Jones, Ph.D., Professor, Texas A&M University Mays School of Business, Bryan/College Station; Tim Lancaster, former President and CEO of Hendrick Health System, Lubbock; Kade Matthews, ranching and investments, Amarillo; Robert Nickles, Jr., Executive Chairman of Alegacy Group, LLC, Houston; and Johnny E. Trotter, President and CEO, Livestock Investors, Ltd., Her...