FIRST FINANCIAL BANKSHARES Business Summary

First Financial Bankshares, Inc. (FFIN) is a Texas-based financial holding company that generates revenue primarily through net interest income from its diverse loan portfolio and securities, complemented by non-interest income from trust fees, service charges, and mortgage operations. The company operates through three primary business segments: Commercial and Retail Banking, which provides traditional lending and deposit services; Trust and Asset Management, managed via First Financial Trust & Asset Management Company; and Technology Services through First Technology Services, Inc. As of early 2026, the firm maintains a high-density footprint across Texas with approximately 79 locations, focusing on a relationship-driven "You First" service model that yields industry-leading efficiency ratios and net profit margins exceeding 40%. FFIN competes directly with regional peers such as Ameris Bancorp, International Bancshares, and Hancock Whitney, positioning itself as a premium, high-profitability mid-cap player with a concentrated focus on high-growth Texas markets. Leadership is currently spearheaded by David Bailey, who assumed the roles of President and Chief Executive Officer on February 1, 2026, following a 22-year tenure that saw him rise from a bank teller to the executive suite. He is supported by Executive Chairman F. Scott Dueser, a long-time leader who transitioned from the CEO role to focus on strategic governance through 2028. The executive team includes Michelle S. Hickox as Executive Vice President and CFO, and Tim Brown, who was recently appointed as Chief Information Officer to lead the firm's digital transformation initiatives. The Board of Directors features notable figures such as Kade Matthews and David Copeland, alongside former Goldman Sachs Managing Director Sally Pope Davis, reflecting a blend of deep regional expertise and institutional pedigree. The company remains a favorite among institutional investors due to its consistent dividend growth and robust balance sheet stability.