Mineral Wells Index, Mineral Wells, TX


January 29, 2012

First Financial Bankshares marks 25th consecutive year of earnings growth

ABILENE (PRNewswire) – First Financial Bankshares Inc. (NASDAQ: FFIN) on Thursday reported earnings for the fourth quarter of 2011 of $17.47 million, up 12.6 percent compared with earnings of $15.52 million in the same quarter last year.

Basic earnings per share were $0.56 for the fourth quarter of 2011 compared with $0.49 in the same quarter a year ago.  

Net interest income for the fourth quarter of 2011 increased 5.6 percent to $38.2 million compared with $36.2 million in 2010.  The net interest margin, on a taxable equivalent basis, was 4.44 percent compared with 4.69 percent in the same quarter last year and 4.62 percent in the third quarter of this year.  

For the year, net income increased 14.6 percent to $68.37 million from $59.66 million in 2010, making 2011 the 25th consecutive year of earnings increases for the company. Basic earnings per share rose to $2.17 for the year from $1.91 in the previous year.

“It is a special honor to be able to announce to our shareholders that 2011 marked a quarter century of consecutive annual earnings increases for the company,” said F. Scott Dueser, chairman, president and CEO. “This rare accomplishment could not have occurred without the dedication, hard work and expertise of our executive team, bank presidents and all our people.

“We are especially pleased with the loan and deposit growth we achieved in 2011, the successful integration of our newly acquired bank in Huntsville, Texas, and the continued growth for our Trust Company,” Dueser said. “We believe First Financial’s future remains bright, despite challenges from a sluggish national economy, extraordinarily low interest rates and the burden of complying with new federal regulations in the banking industry.  In the year ahead, we will continue to pursue both internal growth opportunities and acquisitions, while keeping our focus on providing exceptional customer service and serving the needs of our communities.”  

Headquartered in Abilene, Texas, First Financial Bankshares is a financial holding company that operates 11 separately chartered banks with 52 locations in Texas, including First Financial Bank, N.A., in Mineral Wells.

For more information about First Financial Bankshares, visit www.ffin.com.

Text Only
Featured Ads
Mineral Wells Index

Click on a photo to visit our SmugMug page

Front page
Seasonal Content
AP Video
U.S. Paratroopers in Poland, Amid Ukraine Crisis US Reviews Clemency for Certain Inmates Raw: Violence Erupts in Rio Near Olympic Venue Raw: Deadly Bombing in Egypt Raw: What's Inside a Commercial Jet Wheel Well Raw: Obama Arrives in Japan for State Visit Raw: Anti-Obama Activists Fight Manila Police Motels Near Disney Fighting Homeless Problem Michigan Man Sees Thanks to 'bionic Eye' Obama to Oso: We'll Be Here As Long As It Takes Bon Jovi Helps Open Low-income Housing in Philly S.C. Man Apologizes for Naked Walk in Wal-Mart New Country Music Hall of Fame Inductees Named 'Piles' of Bodies in South Sudan Slaughter SCOTUS Hears Tv-over-Internet Case Chief Mate: Crew Told to Escape After Passengers
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide

Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.
Must Read