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First Financial Bankshares Announces Renewal Of Stock Repurchase Plan
ABILENE, Texas, July 27, 2021 /PRNewswire/ -- First Financial Bankshares, Inc. (NASDAQ: FFIN) announced today the renewal of its existing stock repurchase
About this update from First Financial Bankshares, Inc.
[{"type":"text","content":"ABILENE, Texas, July 27, 2021 /PRNewswire/ -- First Financial Bankshares, Inc. (NASDAQ: FFIN) announced today the renewal of its existing stock repurchase plan. Pursuant to the renewed plan, the Company may repurchase up to 5,000,000 shares of its common stock, which represents approximately 3.5 percent of the Company's outstanding shares as of July 27, 2021, through July 31, 2023. The Board of Directors previously authorized the repurchase of up to 4,000,000 shares of common stock through September 30, 2021.\nThe stock buyback plan authorizes management to repurchase the stock at such time and price as repurchases are considered beneficial to the Company and stockholders. Any repurchase of stock will be made through the open market, block trades or in privately negotiated transactions in accordance with applicable laws and regulations. Under the repurchase plan, there is no minimum number of shares that the Company is required to repurchase.\n\"First Financial continues to have one of the strongest capital positions in the banking industry and we believe it is in the best interest of our shareholders to have in place a stock repurchase plan for a portion of our shares at the right stock price if that situation arises,\" said F. Scott Dueser, Chairman, CEO and President of First Financial. \"We also believe this repurchase plan demonstrates our confidence in the future of First Financial.\"\nAbout First Financial Bankshares, Inc.\nHeadquartered in Abilene, Texas, First Financial Bankshares is a financial holding company that through its wholly-owned subsidiary, First Financial Bank, N.A., operates multiple banking regions with 78 locations in Texas, including Abilene, Acton, Albany, Aledo, Alvarado, Beaumont, Boyd, Bridgeport, Brock, Bryan, Burleson, College Station, Cisco, Cleburne, Clyde, Conroe, Cut and Shoot, Decatur, Eastland, El Campo, Fort Worth, Fulshear, Glen Rose, Granbury, Grapevine, Hereford, Huntsville, Keller, Kingwood, Magnolia, Mauriceville, Merkel, Midlothian, Mineral Wells, Montgomery, Moran, New Waverly, Newton, Odessa, Orange, Palacios, Port Arthur, Ranger, Rising Star, Roby, San Angelo, Southlake, Stephenville, Sweetwater, Tomball, Trent, Trophy Club, Vidor, Waxahachie, Weatherford, Willis, and Willow Park. The Company also operates First Financial Trust & Asset Management Company, N.A., with ten locations a...