First Financial Bankshares Announces Board Changes and Dividend Rate at Annual Meeting
ABILENE, Texas, April 27 /PRNewswire-FirstCall/ -- First Financial Bankshares, Inc. (Nasdaq: FFIN) stockholders elected Steven L. Beal, former president and chief operating officer of Concho Resources Inc., a publicly traded oil and gas company, to the Company's Board of Directors at today's Annual Meeting of Shareholders. Beal is a certified public accountant.
Shareholders reelected 10 existing members of the Board of Directors. The reelected directors are Tucker S. Bridwell, President of Mansefeldt Investment Corporation, Abilene; Joseph E. Canon, Executive Director of the Dodge Jones Foundation, Abilene; David Copeland, President of SIPCO, Inc. and the Shelton Family Foundation, Abilene; F. Scott Dueser, Chairman of the Board, President and Chief Executive Officer of First Financial Bankshares, Inc.; Murray Edwards, Principal, The Edwards Group, Clyde; Ron Giddiens, investment and business consulting, San Angelo; Derrell E. Johnson, former President and CEO of Rady and Associates Consulting Engineers, Southlake; Kade Matthews, ranching and investments, Amarillo; Dian Graves Stai, Chair of the Dian Graves Owen Foundation, Fredericksburg; and Johnny E. Trotter, President and CEO of Livestock Investors, Limited, Hereford.
Shareholders also honored Kenneth T. Murphy, who retired from the Board of Directors today following 37 years of service on the board, including serving as Chairman of the Board from 1986 to 2007 and Senior Chairman from 2008-2010. In addition to his service to the Board, Murphy also served as President and Chief Executive Officer of First Financial Bankshares, Inc., and First Financial Bank, N.A., Abilene. He was first hired by the Company in 1971.
In other business, the Company announced that the Board of Directors approved maintaining the quarterly dividend at $0.34 per share, with the next dividend to be paid on July 1, 2010, to shareholders of record on June 15, 2010. Shareholders also ratified the Board's selection of Ernst & Young LLP as the Company's independent auditors.
Headquartered in Abilene, Texas, First Financial Bankshares is a financial holding company that operates ten separately chartered banks with 50 locations in Texas. The bank subsidiaries are First Financial Bank, N.A., Abilene, Albany, Clyde, Moran and Odessa; First Financial Bank, N.A., Eastland, Ranger and Rising Star; First Financial Bank, N.A., Cleburne, Burleson, Alvarado and Midlothian; First Financial Bank, Hereford; First Financial Bank, N.A., Mineral Wells; First Financial Bank, N.A., San Angelo; First Financial Bank, N.A., Southlake, Bridgeport, Boyd, Decatur, Keller and Trophy Club; First Financial Bank, N.A., Stephenville, Granbury, Glen Rose and Acton; First Financial Bank, N.A., Sweetwater, Roby, Trent and Merkel; and First Financial Bank, N.A., Weatherford, Willow Park, Aledo, Brock and Fort Worth. The Company also operates First Financial Trust & Asset Management Company, N.A., with six locations and First Technology Services, Inc., a technology operating company.
The Company is listed on The NASDAQ Global Select Market under the trading symbol FFIN. For more information about First Financial Bankshares, please visit our website at http://www.ffin.com.
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 currently available to the Company's management, and may be, but not necessarily are, identified by such words as "expect", "plan", "anticipate", "target", "forecast" and "goal". Because such "forward-looking statements" are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from the Company's expectations include competition from other financial institutions and financial holding companies; the effects of and changes in trade, monetary and fiscal policies and laws, including interest rate policies of the Federal Reserve Board; changes in the demand for loans; fluctuations in value of collateral and loan reserves; inflation, interest rate, market and monetary fluctuations; changes in consumer spending, borrowing and savings habits; and acquisitions and integration of acquired businesses, and similar variables. Other key risks are described in the Company's reports filed with the Securities and Exchange Commission, which may be obtained under "Investor Relations-Documents/Filings" on the Company's Web site or by writing or calling the Company at 325.627.7155. Except as otherwise stated in this news announcement, the Company does not undertake any obligation to update publicly or revise any forward-looking statements because of new information, future events or otherwise.
SOURCE First Financial Bankshares, Inc.
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