First Financial Bankshares Announces Board Election and Dividend Increase at the Annual Meeting

Overview

In a significant update from First Financial Bankshares, Inc. (NASDAQ: FFIN), the company has announced a considerable increase in its quarterly cash dividend as well as the election of new board members during the 2025 Annual Shareholders' Meeting held in Abilene, Texas.

Dividend Declaration

The board has set a cash dividend of $0.19 per share for the second quarter of 2025, marking a 5.6% increase from previous levels. This dividend is scheduled to be paid to shareholders on record as of June 16, 2025, with the payment date coming up on July 1, 2025. This decision reflects the company's continued commitment to delivering value to its shareholders, indicating a strong performance amid the current economic conditions.

New Board Members Elected

During the annual meeting, shareholders were actively engaged as they elected thirteen individuals to the Board of Directors. The newly elected members bring a wealth of experience from diverse professional backgrounds, enhancing the strategic guidance of First Financial Bankshares. The elected directors include:
1. Vianei Lopez Braun, Attorney at Decker Jones, P.C., Fort Worth
2. David Copeland, President of SIPCO, Inc. and Shelton Family Foundation, Abilene
3. Sally Pope Davis, Retired Managing Director of Goldman Sachs, New York
4. Mike Denny, President of Batjer and Associates, Inc., Abilene
5. Scott Dueser, Chairman and CEO of First Financial Bankshares, Abilene
6. Murray Edwards, Principal at The Edwards Group, Clyde
7. Goeff Haney, Dean of the Walter Johnson School of Business at McMurry University, Abilene
8. Eli Jones, Ph.D., Professor at Texas A&M University Mays School of Business, Montgomery
9. Tim Lancaster, former President and CEO of Hendrick Health System, Lubbock
10. Kade Matthews, Ranching and Investments, Clarendon
11. Robert Nickles, Jr., Executive Chairman of Alegacy Group, LLC, Houston
12. Blake Poutra, Managing Partner at Big Enrichment, Spring
13. Johnny E. Trotter, President and CEO of Livestock Investors, Ltd., Hereford

April Anthony, who served ten years on the board, was acknowledged for her contributions prior to her retirement from the board of directors.

Other Business During the Meeting

In addition to the dividend declaration and board elections, shareholders ratified the selection of Ernst & Young LLP as the company's independent auditors. Another significant proposal regarding the compensation of named executive officers was also approved in an advisory vote.

Quote from Leadership

F. Scott Dueser, Chairman and CEO, expressed gratitude toward shareholders for their support during the meeting, stating, "We are pleased to announce this increase in our quarterly cash dividend and appreciate our shareholders for electing the Board of Directors and ratifying the Company's auditors." He added, "We were honored to have so many of our shareholders attend the annual meeting both in person and via the live webcast."

About First Financial Bankshares, Inc.

First Financial Bankshares, Inc. is headquartered in Abilene, Texas, and operates through its subsidiary, First Financial Bank. With a footprint that includes 79 locations across Texas, the bank provides a variety of financial services to its clients. In addition, the company operates the First Financial Trust Asset Management Company and First Technology Services, Inc., a tech operating company. The bank is listed on the NASDAQ Global Select Market under the trading symbol FFIN, and further information can be found on the company's website at ffin.com.

Closing Thoughts

This annual meeting marks a positive step for First Financial Bankshares, both in governance through the election of a skilled board and in financial strength with the increased dividend announcement. As the company continues to navigate the financial landscape, these updates signal its commitment to both shareholders and the communities it serves.