ABILENE, Texas, July 25, 2017 /PRNewswire/ -- First
Financial Bankshares, Inc. (NASDAQ: FFIN) announced the renewal of
its existing stock repurchase plan to repurchase up to 2,000,000
shares of its common stock, which represents approximately 3.0
percent of the Company's outstanding shares, through September 30, 2020. The Board of Directors
previously authorized the repurchase of up to 1,500,000 shares of
common stock for a three-year period expiring September 30, 2017.
The stock buyback plan authorizes management to repurchase the
stock at such time and price as repurchases are considered
beneficial to the Company and stockholders. Any repurchase of
stock will be made through the open market, block trades or in
privately negotiated transactions in accordance with applicable
laws and regulations. Under the repurchase plan, there is no
minimum number of shares that the Company is required to
repurchase.
"First Financial continues to have one of the strongest capital
positions in the banking industry and we believe it is in the best
interest of our shareholders to have in place a stock repurchase
plan for a portion of our shares at the right stock price if that
situation arises," said F. Scott
Dueser, Chairman, CEO and President of First
Financial. "We also believe this repurchase plan demonstrates
our commitment and confidence in the future of First
Financial."
About First Financial Bankshares
Headquartered in Abilene, Texas,
First Financial Bankshares is a financial holding company that
through its subsidiary, First Financial Bank, N.A., operates
multiple banking regions with 69 locations in Texas including Abilene, Acton, Albany, Aledo, Alvarado, Beaumont, Boyd, Bridgeport, Brock, Burleson, Cisco, Cleburne, Clyde, Conroe, Cut and Shoot, Decatur, Eastland, Fort
Worth, Glen Rose,
Granbury, Grapevine, Hereford, Huntsville, Keller, Magnolia, Mauriceville, Merkel, Midlothian, Mineral
Wells, Montgomery,
Moran, New Waverly, Newton, Odessa, Orange, Port
Arthur, Ranger,
Rising Star, Roby, San Angelo,
Southlake, Stephenville, Sweetwater, Tomball, Trent, Trophy Club, Vidor, Waxahachie, Weatherford, Willis, and Willow
Park. The Company also operates First Financial Trust &
Asset Management Company, N.A., with seven 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.
View original
content:http://www.prnewswire.com/news-releases/first-financial-bankshares-announces-renewal-of-stock-repurchase-plan-300494020.html
SOURCE First Financial Bankshares, Inc.