First Financial Bankshares, Inc. · NASDAQ:FFIN
First Financial Bankshares — Shareholder Meeting (April 2023)
89 slides from First Financial Bankshares's shareholder meeting presentation, Apr 25, 2023
Slide 1: Community 2023 Annual Meeting of Shareholders
COMMUNITY 2023 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 Michelle Hickox 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 yo ;smff 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 = © ] oN At FFIN In Banking At FFIN In Banking
Slide 6: Executive Management Team
Executive Management Team Stephen Lee Kyle McVey, CPA David Bailey Southeast Texas Executive Vice President Executive Vice President Banking Executive Chief Accounting Officer Commercial Banking i Lt] At FFIN In Banking At FFIN In Banking At FFIN In Banking =) LF |
Slide 7: Senior Leadership
Senior Leadership Marna Yerigan Rett Everett Michael Parker Executive Vice President Executive Vice President Executive Vice President Credit Administration Credit Administration Chief Compliance Officer At FFIN In Banking At FFIN In Banking At FFIN In Banking Daa ™~
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 ae AtFFIN | In the Industry AtFFIN — Inthe Industry At FFIN In Banking
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 yo
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 J Mar Jose! Abi Sweetwal
Slide 12: Experienced Regional CEOs and Presidents
Experienced Regional CEOs and Presidents J Jamie Esch Chris Evatt Hereford Austin Elsner Trent Swearengin Cleburne Stephenville
Slide 13: Experienced Regional CEOs and Presidents
Experienced Regional CEOs and Presidents 1 Justin Hooper Shelby Bruhn Stephen Lee Chris Baughman Weatherford Southlake Conr fa’ | ALFFIN. | In Banking
Slide 14: Experienced Regional CEOs and Presidents
Experienced Regional CEOs and Presidents J Marcus Morris Shelley Dacus Nora Thompson Fort Worth Kinoweed, Biya tion
Slide 15: Community 2023 Annual Meeting of Shareholders
COMMUNITY 2023 ANNUAL MEETING OF SHAREHOLDERS FIRST FINANCIAL BANKSHARES, INC.” 15
Slide 16: Independent Public Auditors
Independent Public Auditors EY suitsins a better working world
Slide 17: Community 2023 Annual Meeting of Shareholders
COMMUNITY 2023 ANNUAL MEETING OF SHAREHOLDERS FIRST FINANCIAL BANKSHARES, INC.” 7
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 CEO, VitalCaring Group, Managing Partner Anthony Family Investment Partners, LTD. Executive Chair of Homecare Homebase Year Committee Appointment 18
Slide 19: Corporate Board of Directors
Corporate Board of Directors J pam Mike B. Denny Batjer and Associates, Inc. Z <a ai | 2019 | s’ Loan Committee (. =} Year Committee Appointments David L. Copeland President, SIPCO, Inc. and Shelton Family Foundatio ance
Slide 20: Corporate Board of Directors
Corporate Board of Directors J 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 Former 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 J Robert C. Nickles, Jr. Executive Chairman Alegacy Group, LLC \ _ are 2019 | ee he 8 q Kade L. Matthews Ranching and Investments Year Committee Appointments 22
Slide 23: Corporate Board of Directors
Corporate Board of Directors J geen Johnny E. Trotter President and CEO, Livestock Investors, Ltd :) a)
Slide 24: Community 2023 Annual Meeting of Shareholders
COMMUNITY 2023 ANNUAL MEETING OF SHAREHOLDERS FIRST FINANCIAL BANKSHARES, INC.” 24
Slide 25: First Financial Bankshares Inc. - Michelle Hickox, CFO
FIRST FINANCIAL BANKSHARES INC.” Michelle Hickox 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: 2022 Overview
FIRST FINANCIAL BANKSHARES INC.” 2022 Overview
Slide 28: 36th Consecutive Year of Increased Earnings
36th Consecutive Year of Increased Earnings J FFIN Earnings (in millions) $227.6 $234.5. $202.0 $150.6 $164.8 $120.4 2017 2018 2019 2020 2021 2022
Slide 29: Strong Shareholder Earnings
Strong Shareholder Earnings Diluted Earnings Per Share $0.91 2017 2018 2019 = =2020 2021 2022
Slide 30: FFIN Outperforms Peers
FFIN Outperforms Peers Percentage Return on Average Assets @ Peer Group 1.98% os 1.98% ee 1.72% _ 1.76% 1.22% 1.19% 1.26% 141% , : AL. iis i | i 2017 2018 2019 2020 2021 2022 30
Slide 31: Strong Return on Capital
Strong Return on Capital Percentage Return on Average Equity @ Peer Group 16.72% 15.37% 14.37% 13.63% 12.93% 13.31 % 0, 11.03% Anse ae 11.16% 8.67% / 7.26% 2017 2018 2019 2020 2021 2022 ea
Slide 32: Net Interest Margin
Net Interest Margin Quarterly NIM % First Financial @ Peer Group 4.50% 4.25% 4.00% poe 3.75% ™ 3.50% 3.25% 3.00% 2.75% 2.50% 2.25% 2018 2019 2020 2021 2022 32
Slide 33: Working Harder and Smarter
Working Harder and Smarter Efficiency Ratio (FFIN vs. Peers) 2017-2018 )3=—s 2019S 2020S 2021 2022 B
Slide 34: Capital Ratios
Capital Ratios To meet Requirements Dec. 31,2020 Dec. 31,2021 Dec. 31, 2022 ae a 11.86% 11.13% 10.96% > 4.00% Common Equity : ; 0 . Tier 1 CapitalRato 20-79% 19.35% 18.22% > 7.00% Tier {Capital Ratio 20.79% 19.35% 18.22% > 8.50% Total Capital Ratio 22.03% 20.44% 19.29% > 10.50%
Slide 35: Total Asset Growth
Total Asset Growth | (in millions) $13,102 $12,974 $10,905 $7,255 $7,732 $8,262 2017 2018 2019 , 2020 2021 2022
Slide 36: Total Loan Growth
Total Loan Growth (in millions) “PPP Loans as of period end $6 454 3 2017 2018 2019 2020 2021 2022
Slide 37: Sound Lending Practices
Sound Lending Practices I Nonperforming Assets as a Percentage of Loans Funded + Foreclosed Assets (FFIN vs. Peers) 2017-2018 )3=—s 2019S 2020S 2021 2022
Slide 38: Total Deposit Growth
Total Deposit Growth (in millions) g Noninterest-Bearing Interest-Bearing g105e6 _,St.006 $8.676 $5,963 $6,180 $6,604 a 2017 2018 2019 2020 2021 2022 3B
Slide 39: 1st Quarter 2023 Financial Review
FIRST FINANCIAL BANKSHARES INC.” 1st Quarter 2023 Financial Review
Slide 40: 1st Quarter Earnings
1st Quarter Earnings FFIN Earnings (in millions) $56.9 $56.0 $52.6 $345 $38.3 $37.2 2018 2019 2020 . 2021 2022 2023
Slide 41: Diluted Earnings Per Share - 1st Quarter
Diluted Earnings Per Share - 1** Quarter Earnings Per Share (in actual dollars) $0.40 $0.39 $0.37 $0.28 $0.26 $0.26 2018 2019 2020 . 2021 2022 2023
Slide 42: Total Asset Growth
Total Asset Growth (in milfions) “As of March 31, 2023 $13,102 $12,974 $13,008* $10,905 $7,732 $8,262 2018 2019 2020 2021 2022 2023
Slide 43: Total Loan Growth
Total Loan Growth (in millions) “As of Maroh 31, 2028 $6,454 $6,588" “PPP Loans as of period end $3,975 $4,223 2018 2019 2020 2021 2022 2023 43
Slide 44: Total Deposit Growth
Total Deposit Growth (in millions) *As of March 31, 2023 @ Noninterest-Bearing Interest-Bearing $10,566 _pSiiQ08, $10,936" $8,676 _ $6,180 $6,604 4 064 $4,539 $3,780 $4,062 $3,891 $2,983 : : $2,065 Lx| cs 2018 2019 2020 2021 2022 2023
Slide 45: First Financial - Kirk W. Thaxton, President and CEO First Financial Trust
FIRST FINANCIAL Kirk W. Thaxton, CTFA President and CEO First Financial Trust
Slide 46: Growth in Trust Assets
Growth in Trust Assets J Total Trust Assets — Book Value / Fair Value (in millions) Value mi Fair Value $8,699 $8,755 $7,510 $6,746 $6,927 $5,880 $5,132 64564 saibed $4,856 $5,398 | L 1 2017 2018 2019 2020 2021 2022 48
Slide 47: Total Trust Fees
Total Trust Fees J Growth in FFTAM Fees (in thousands) $39,995 $36,145 $28,181 $28,401 $29,531 $23,694 2017 2018 2019 2020 2021 2022
Slide 48: Revenue from Mineral Management
Revenue from Mineral Management (in thousands) $7,380 $4,821 $4,640 $3,749 $2,412 Sear8 2017 2018 2019 . 2020 2021 2022
Slide 49: Total Trust Net Income
Total Trust Net Income Growth in FFTAM Net Income (in thousands) $20,857 $17,723 $13,532 $13,892 $14,471 $8,579 2017 2018 2019 , 2020 2021 2022
Slide 50: First Financial - Your Future First
FIRST FINANCIAL YOUR FUTURE FIRST
Slide 51: Managed Equity Styles
Managed Equity Styles J Equity Income Wa \ Core Domestic | /, | Core Diversified o | Core World Strategic Growth
Slide 52: First Financial - Your Future First
FIRST FINANCIAL YOUR FUTURE FIRST
Slide 53: Trust Office Locations
Sweetwater Abilene Fort Worth Stephenville Beaumont Abilene Sweetwater Stephenville San Angelo Fort Worth Odessa Beaumont Houston (Kingwood) Bryan/College Station
Slide 54: Susie Stalcup - New Board Member
Susie Stalcup — New Board Member October 2022 Susie Stalcup Trust Board of Directors
Slide 55: Book Value of Trust Assets
Book Value of Trust Assets (in millions) $7,500 5 $7,000 - $6,500 - $6,000 - $5,500 — $5,000 - $4,500 - $4,000 - $3,500 - $3,000 - $2,500 — $2,000 - $1,500 - $1,000 ~ 05 «(06:«(07:sC8:sisiC( i181 17 18 «#19 20 21 22 2 55
Slide 56: First Financial - Your Future First
FIRST FINANCIAL YOUR FUTURE FIRST
Slide 57: Momentum
MOMENTUM
Slide 58: Deposit Account Growth
Deposit Account Growth J “As of March 31, 2023 * 11,897" 4,380 2020 2021 2022 2023" Number of 303,169 319,264 329,793 334,173 Accounts **( Excluding Bryan/ College Station Acquisition) FIRST FINANCIAL BANKSHARES INC. 58
Slide 59: Community
COMMUNITY
Slide 60: Slide 60
Slide 61: Marcus Morris
Marcus Morris Walter Johnson 1
Slide 62: Forbes - Number Bank in the Nation
Forbes — Number 2 Bank in the Nation February 2023 NUMBER 2 IN THE NATION Forbes /2623) AMERICA’S BEST BANKS
Slide 63: #7 Bank in the Nation
#7 Bank in the Nation -pRsT NE AIICE-AL. es AN E€ MEMBER FDIC S&P Global
Slide 64: 36th Consecutive Year of Increased Earnings
36th Consecutive Year of Increased Earnings J FFIN Earnings (in millions) $227.6 $234.5. $202.0 $150.6 $164.8 $120.4 2017 2018 2019 2020 2021 2022 oa
Slide 65: 1st Quarter Earnings
1st Quarter Earnings FFIN Earnings (in millions) $56.9 $56.0 $52.6 $345 $38.3 $37.2 2018 2019 2020 . 2021 2022 2023
Slide 66: Strong Stock Performance
Strong Stock Performance Through March 31, 2023 700% + @ Dow Jones @ NASDAQ 500% | ©) S&P 500 sooy, _ @ FFIN 600% - 300% ~ 200% ~ 100% - 0% 100% ~ 2007 «2008 «2009S 2010-2041 2012 «= 2013 2014 «2015 «2016 «2017 +2018 2019 2020 2021 2022 2023 66
Slide 67: Diverse Footprint Across Texas
Diverse Footprint Across Texas J
Slide 68: New Locations and Buildings
COMMUNITY New Locations and Buildings
Slide 69: Bryan/College Station
Slide 70: Lumberton
Slide 71: Huntsville
== Huntsville
Slide 72: Bryan/College Station
Slide 73: Regional Board and Management Changes
COMMUNITY Regional Board and Management Changes
Slide 74: Management Changes
Management Changes January 2022 Vianei Lopez Braun Chairman of the Board Fort Worth Region 74
Slide 75: Management Changes
Management Changes January 2022 Luke Longhofer Executive Vice President Chief Lending Officer
Slide 76: Management Changes
Management Changes January 2022 Kyle McVey Executive Vice President Chief Accounting Officer 76
Slide 77: Management Changes
Management Changes February 2022 Shelby Bruhn President & CEO Southlake Region
Slide 78: Management Changes
Management Changes April 2022 Jamie Esch Chairman & CEO Hereford Region
Slide 79: Management Changes
Management Changes April 2022 Rett Everett Executive Vice President Credit Administration
Slide 80: Management Changes
Management Changes January 2023 Michael Parker Executive Vice President Chief Compliance Officer 80
Slide 81: Management Changes
Slide 82: Diversity and Inclusion
Slide 83: Community: First Financial Bankshares, Inc. Board Changes
Slide 84: Dr. Eli Jones
Slide 85: Murray H. Edwards
Slide 86: Dividends Per Share
Slide 87: Dividend Announcement
Slide 88: Community 2023 Annual Meeting of Shareholders
Slide 89: First Financial Bankshares, Inc.
First Financial Bankshares — Shareholder Meeting (April 2023) on 6ix