First Financial Bankshares, Inc. · NASDAQ:FFIN
First Financial Bankshares — Shareholder Meeting (April 2022)
93 slides from First Financial Bankshares's shareholder meeting presentation, Apr 26, 2022
Slide 1: Momentum 2022 Annual Meeting of Shareholders
MOMENTUM 2022 ANNUAL MEETING OF SHAREHOLDERS FIRST FINANCIAL BANKSHARES, INC.”
Slide 2: Executive Management Team
Executive Management Team Scott Dueser
Slide 3: Executive Management Team
Executive Management Team Ron Butler James Gordon Executive Vice President Executive Vice President Chief Administrative Officer Chief Financial Officer At FFIN In Banking At FFIN In Banking
Slide 4: Executive Management Team
Executive Management Team Kirk Thaxton, CTFA — Luke Longhofer Chairman, President and CEO Executive Vice President = First Financial Trust and Asset Management Chief Lending Officer = eS | x y = P J be ig | 4 ef At FFIN In Banking At FFIN In Banking
Slide 5: Executive Management Team
Executive Management Team Randy Roewe John Ruzicka Executive Vice President Executive Vice President am om Chief Risk Officer Chief Information Officer j = © ] "eV At FFIN In Banking At FFIN In Banking
Slide 6: Executive Management Team
Executive Management Team Kyle McVey, CPA David Bailey Executive Vice President Executive Vice President Chief Accounting Officer Commercial Banking - 2 At FFIN In Banking At FFIN In Banking
Slide 7: Senior Leadership
Senior Leadership Marna Yerigan Rett Everett Lawrence Kentz Executive Vice President Executive Vice President Senior Vice President Credit Administration Credit Administration Chief Compliance Officer At FFIN In Banking At FFIN In Banking At FFIN In Banking | = = ) Rh a
Slide 8: Line of Business Executives
Line of Business Executives Troy Fore Chris Cook Monica Houston President Executive Vice President Executive Vice President First Financial Mortgage Advertising and Marketing Retail Banking and Training AtFFIN | In the Industry AtFFIN _ In the Industry At FFIN In Banking C. > yy
Slide 9: Line of Business Executives
Line of Business Executives Andrea Smiddy-Schlagel Maggie Tuschinski Mike Wolverton Executive Vice President Executive Vice President Executive Vice President Treasury Management Chief Digital Officer Consumer Lending At FFIN In Banking At FFIN In Banking At FFIN In Banking y » \ > = 7 dim
Slide 10: Line of Business Executives
Line of Business Executives Frank Gioia Brandon Harris Josh Brown Gary Milliorn Senior Vice President Senior Vice President Senior Vice President Vice President Customer Care Center Appraisal Services Human Resources Property Management At FFIN In the Industry At FFIN In the Industry At FFIN In the
Slide 11: Experienced Regional CEOs and Presidents
Experienced Regional CEOs and Presidents 1 Marelyn Shedd David Bailey Candi Kanady Joseph Crouch Abilen: sident Eastland jon CEO Eas n President ‘Sweetwater ident
Slide 12: Experienced Regional CEOs and Presidents
Experienced Regional CEOs and Presidents | Jamie Esch Chris Evatt Austin Elsner Trent Swearengin Stephenville
Slide 13: Experienced Regional CEOs and Presidents
Experienced Regional CEOs and Presidents | Justin Hooper Mark Jones Shalby Brut Stephen Lee Weatherford Southlake Chairman e Pre Southeast Texas (—\ ia 13
Slide 14: Experienced Regional CEOs and Presidents
Experienced Regional CEOs and Presidents 1 Nora Thompson BryanvColl nd CEO Chris man Marcus paris Cont 0) Fort Worth Presider
Slide 15: Momentum
MOMENTUM
Slide 16: Independent Public Auditors
Independent Public Auditors EY suitsins a better working world
Slide 17: Momentum 2022 Annual Meeting of Shareholders
MOMENT UNM 2022 ANNUAL MEETING OF SHAREHOLDERS FIRST FINANCIAL BANKSHARES, INC.”
Slide 18: Corporate Board of Directors
Corporate Board of Directors Vianei Lopez Braun Chief Development Officer Decker Jones, P.C. Year | Committee Appointments April K. Anthony Managing Partner Anthony Family Investment Partners, LTD. Former CEO of Encompass Home Health and Hospice Executive Chair - Homecare Homebase Year Committee App
Slide 19: Corporate Board of Directors
Corporate Board of Directors 1 Ml. Mike B, Denny ro CEO ¥ Baljer and Associates, Inc. Gf. = Vid | s' Loan Committee { ys f \ Year Committee Appointments fan | oy David L. Copeland President, SIPCO, Inc. and Shelton Family Foundatio ance
Slide 20: Corporate Board of Directors
Corporate Board of Directors 1 Murray H. Edwards Principal The Edwards Group | F. Scott Dueser Chairman of the Board, President, and CEO. First Financial Bankshares Year Committee Appointment 20
Slide 21: Corporate Board of Directors
Corporate Board of Directors |. Tim Lancaster Retired President and CEO: Hendrick Health System ‘oan Year Committee Appointments Dr. Eli Jones Professor of Marketing, Lowry and Peggy Mays Eminent Scholar, Former Dean of Mays School of Business, Texas AGM University Year Committee Appointment a
Slide 22: Corporate Board of Directors
Corporate Board of Directors 1 Robert C. Nickles, Jr. Executive Chairman Alegacy Group, LLC Kade L. Matthews Ranching and Investments Year Committee Appointments 22
Slide 23: Corporate Board of Directors
Corporate Board of Directors 1 geen Johnny E. Trotter President and CEO. Livestock Investors, Ltd :) a)
Slide 24: Momentum 2022 Annual Meeting of Shareholders
MOMENT UNM 2022 ANNUAL MEETING OF SHAREHOLDERS FIRST FINANCIAL BANKSHARES, INC.”
Slide 25: First Financial Bankshares Inc. - James Gordon, CFO
FIRST FINANCIAL BANKSHARES INC.” James Gordon Chief Financial Officer
Slide 26: Forward Looking Statement
Forward Looking Statement Certain statements contained herein 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 curr
Slide 27: 2021 Overview
FIRST FINANCIAL BANKSHARES INC.” 2021 Overview
Slide 28: 35th Consecutive Year of Increased Earnings
35th Consecutive Year of Increased Earnings 1 FFIN Earnings (in millions) $227.6 $202.0 $150.6 $164.8 $120.4 $104.8 2016 2017 2018 ~~ 2019 2020 2021
Slide 29: Strong Shareholder Earnings
Strong Shareholder Earnings Diluted Earnings Per Share 2016 2017 2018 =. 2019 2020 2021
Slide 30: FFIN Outperforms Peers
FFIN Outperforms Peers Percentage Return on Average Assets @ Peer Group 2.08% 1.98% 1.98% 1.89% 0, 4.59% 1.72% 1.22% 1.19% 1.26% 1.00% 0.95% i tf 0.82% ) 7 | 2016 2017 2018 2019 2020 2021 30
Slide 31: Strong Return on Capital
Strong Return on Capital Percentage Return on Average Equity @ Peer Group 15.37% 13.63% 14.37% 12.36% 12.93% 13.31% 1 11.94% 11.03% 10.58% ; [ ; | | | : j 2016 2017 2018 2019 2020 2021 ea
Slide 32: Net Interest Margin
Net Interest Margin Quarterly NIM % First Financial m@ Peer Group 4.50% 4.25% 4.00% 3.75% 3.50% 3.25% 3.00% 2.15% 2.50% 2.25% 2017 2018 2019 2020 2021 32
Slide 33: Working Harder and Smarter
Working Harder and Smarter Efficiency Ratio (FFIN vs. Peers) 2016 §=2017) 2018 2019 2020 2021 B
Slide 34: Capital Ratios
Capital Ratios To meet Requirements Dec. 31,2019 Dec. 31,2020 Dec. 31, 2021 ae a 12.60% 11.86% 11.13% > 4.00% Common Equity ; - . Tier 1 CapitalRato 20-06% 20.79% 19.35% > 7.00% Tier {Capital Ratio 20.06% 20.79% 19.35% > 8.50% Total Capital Ratio 21.13% 22.03% 20.44% > 10.50%
Slide 35: Total Asset Growth
Total Asset Growth | (in millions) $13,102 $10,905 $8,262 $6,810 $7,255 $7,732 2016 2017 2018 ~~ 2019 2020 2021
Slide 36: Total Loan Growth
Total Loan Growth (in millions) “PPP Loans as of period end 2016 2017 2018 = 2019 2020 2021
Slide 37: Sound Lending Practices
Sound Lending Practices I Nonperforming Assets as a Percentage of Loans Funded + Foreclosed Assets (FFIN vs. Peers) 2016 §=2017) 2018 2019 2020 2021
Slide 38: Total Deposit Growth
Total Deposit Growth (in millions) m Noninterest-Bearing m Interest-Bearing $10,566 $8,676 $6,604 $5,479 $5,963 $6,180 $3,780 $1,718 $2,042 a $2,065 ee |. 2016 2017 2018 2019 2020 2021 3B
Slide 39: 1st Quarter 2022 Financial Review
FIRST FINANCIAL BANKSHARES INC.” 1st Quarter 2022 Financial Review
Slide 40: 1st Quarter Earnings
1st Quarter Earnings FFIN Earnings (in millions) $56.9 $56.0 $345 $38.3 $37.2 $26.6 2017 2018 2019 2020 2021 2022
Slide 41: Diluted Earnings Per Share - 1st Quarter
Diluted Earnings Per Share - 1** Quarter Earnings Per Share (in actual dollars) $0.40 $0.39 $0.28 $0.26 $0.26 $0.20 2017 2018 2019 2020 2021 2022
Slide 42: Total Asset Growth
Total Asset Growth (in milfions) ‘As of March 31, 2022 $13,102 o3.314" $10,905 $7,255 $7,732 $8,262 2017 2018 2019 2020 2021 2022
Slide 43: Total Loan Growth
Total Loan Growth 1 (in millions) *As of Marc! * aa g5.255 $5427 85,598 $484" S55 $3,975 $4,223 $3,501 2017 2018 2019 2020 2021 2022 43
Slide 44: Total Deposit Growth
Total Deposit Growth (in millions) *As of March 31, 2022 @ Noninterest-Bearing Interest-Bearing $10,566 $11,000* _ $8,676 $5,963 $6,180 _ $6,604 $3,780 $3,979 2017 2018 2019 2020 2021 2022
Slide 45: First Financial Trust - Kirk W. Thaxton
FIRST FINANCIAL Kirk W. Thaxton, CTFA President and CEO First Financial Trust
Slide 46: Growth in Trust Assets
Growth in Trust Assets Total Trust Assets — Book Value / Fair Value (in millions) m Fair Value $8,699 $6,746 aly $5,880 $4,373 om 54.294 my 05 _ Se $3,866 a 7 ; - 2016 2017 2018 2019 2020 2021 46
Slide 47: Total Trust Fees
Total Trust Fees 1 Growth in FFTAM Fees (in thousands) $36,145 $28,181 $28,401 $29,531 $23,694 $19,636 2016 2017 2018 ~ 2019 2020 2021
Slide 48: Revenue from Mineral Management
Revenue from Mineral Management (in thousands) ca $4,640 $3,749 $2,412 2776 $1,709 2016 2017 2018 ~~ 2019 2020 2021
Slide 49: Total Trust Net Income
Total Trust Net Income 1 Growth in FFTAM Net Income (in thousands) $17,723 $13,532 $13,892 $14,471 $8,579 $7,190 2016 2017 2018 ~ 2019 2020 2021
Slide 50: First Financial: Your Future First
FIRST FINANCIAL YOUR FUTURE FIRST
Slide 51: Managed Equity Styles
Managed Equity Styles Equity Income Core Domestic Core Diversified Core World Strategic Growth
Slide 52: First Financial: Your Future First
FIRST FINANCIAL YOUR FUTURE FIRST
Slide 53: First Financial Trust Locations
| First Financial Trust Locations 27, =~ Abilene Fort Worth Sweetwater Sweetwater r ——= | FF Stephenville Abilene Pee San Angelo es Fort Worth avai Odessa College Beaumont Houston (Kingwood) Houston >7 \¥¢_ San Antonio (rena Bryan/College Station ‘s,
Slide 54: Award winner recognition
W NNER! Missy Fenton Colleen Barrett Award for Administrative Excellence oe bie Investment and insurance Products Are: Not a Deposit, Not FDIC Insured, Not Insured by Any Federal Government Agency, Not Guaranteed by The Bank, May Lose Value
Slide 55: Book Value of Trust Assets
Book Value of Trust Assets (in millions) $6,500 $6,000 - $5,500 — $5,000 — $4,500 - $4,000 - $3,500 - $3,000 — $2,500 - $2,000 $1,500 - $1,000 ~ 06 07 «#408 «09 «10 «4 «O12 «(1380 1415 GCA?:—‘i?tstiASssDsA 2D 55
Slide 56: First Financial: Your Future First
FIRST FINANCIAL YOUR FUTURE FIRST
Slide 57: Momentum 2022 Annual Meeting of Shareholders
MOMENTUM 2022 ANNUAL MEETING OF SHAREHOLDERS FIRST FINANCIAL BANKSHARES, INC.”
Slide 58: COVID-19 Government Loan Program Performance
COVID-19 Government Loan Program Performance 1 7 PPP Round 1 PPP Round 2 Main Street Loans Made Loans Made Loans Made PPP Round 1 Main Street PPP Round 2 Dollars Loaned Dollars Loaned Dollars Loaned Total Government 7 Of Texas Dollars Loaned Jobs Saved 58
Slide 59: Deposit Account Growth
Deposit Account Growth 1 16,095 11,897** < --------------------3 year average — 5,453 -----------------> 5716 6.711 3,932* 2017 2018 2019 2020 2021 Ate) 260,430 270,976 277,687 303,169 319,264 Number of Accounts *(Excluding Kingwood Acquisition) **(Excluding Bryan/College Station Acquisition) 59
Slide 60: 35th Consecutive Year of Increased Earnings
35th Consecutive Year of Increased Earnings 1 FFIN Earnings (in millions) $227.6 $202.0 $150.6 $164.8 $120.4 $104.8 2016 2017 2018 ~ 2019 2020 2021
Slide 61: Total Return on Investment
Total Return on Investment Assume you owned 1,000 shares of FFIN stock on January 1, 2017... 2021 retum on investment 40.56% 2020 retum on investment 6.35% 2019 retum on investment 23.34% 2018 retum on investment 29.88% 2017 retum on investment 1.33% 5-year average annual return 29% J 61
Slide 62: Annual Return Since 1973
Annual Return Since 1973 Assume you owned 100 shares of FFIN stock on January 1, 1973: 100 mmp 34,376 Shares in 1973 Shares Today $4,900 mump $1,747,676 Share Value in 1973 Share Value on 12/31/2021 “Excludes Dividends
Slide 63: Strong Stock Performance
Strong Stock Performance Through March 31, 2022 700% + @ Dow Jones @ NASDAQ 500% | ©) S&P 500 sooy, _ @ FFIN 600% - 300% ~ 200% ~ 100% - 0% 100% ~ 2007 «2008 «2009 2010 2011-2012) 2013-2014 «= 2015 2016 )= 2017 «2018 §=2019 2020» 2021 2022 63
Slide 64: Top Rated Bank by Bank Director
Top Rated Bank by Bank Director FIRST FINANCIAL BANK MEMBER FDIC.
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Slide 66: New Locations and Buildings
MOMENTUM New Locations and Buildings
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Slide 68: — = eS —— oa oS a
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Slide 72: Management Changes
MOMENTUM Management Changes
Slide 73: Management Changes
Management Changes January 2021 Nora Thompson President & CEO Bryan/College Station Region 73
Slide 74: Management Changes
Management Changes February 2021 Robert C. Nickles, Jr. Chairman of the Board Kingwood Region
Slide 75: Management Changes
Management Changes July 2024 Chris Cook Executive Vice President Advertising and Marketing
Slide 76: Management Changes
Management Changes August 2024 Maggie Tuschinski Executive Vice President Chief Digital Officer
Slide 77: Management Changes
Management Changes October 2021 Chris Baughman President & CEO Conroe Region
Slide 78: Management Changes
Management Changes November 2021 David Bailey Executive Vice President Commercial Banking
Slide 79: Management Changes
Management Changes January 2022 Vianei Lopez Braun Chairman of the Board Fort Worth Region 79
Slide 80: Management Changes
Management Changes January 2022 Luke Longhofer Executive Vice President Chief Lending Officer 80
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