FFIN First Financial Bankshares Inc

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

 

	CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of Earliest Event Reported): May 20, 2024

 

 

First Financial Bankshares, Inc.

(Exact name of registrant as specified in its Charter)

 

 

Texas	0-07674	75-0944023
(State or other jurisdiction of incorporation or organization)	(Commission File No.)	(I.R.S. Employer Identification No.)
	400 Pine Street, Abilene, Texas 79601
	(Address of Principal Executive Offices and Zip Code)
	Registrant’s Telephone Number (325) 627-7155

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐		Written communications pursuant to Rule 425 under the Securities Act (17 CFR 203.425)
☐		Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐		Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2 (b))
☐		Pre-commencement communications pursuant to Rule 13e-4 (c) under the Exchange Act (17 CFR 240.13 e-4 (c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, $0.01 par value		FFIN		The Nasdaq Global Select Market

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

 

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

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ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.

Appointment of Sally Pope Davis to the Board of Directors

On May 20, 2024, the Board appointed Sally Pope Davis to the Board of the Company and was also appointed to the Board of First Financial Bank, N.A., a wholly owned subsidiary of the Company.

Ms. Davis retired from Goldman Sachs in April 2024 after a 34-year career at the firm. At Goldman Sachs Asset Management, Ms. Davis co-led one of the industry's largest U.S. small cap value funds with specific responsibilities and expertise in investments across the financial sector, including banks, thrifts, insurance companies, mortgage, capital markets and specialty finance. Ms. Davis is also an experienced and in-demand public speaker, which includes giving presentations to boards of directors, senior management and leadership, risk management and investment groups.

Ms. Davis will be compensated for her service on the Board pursuant to the existing non-employee director compensation programs. These compensation programs are described in detail in the Company's proxy statement dated March 14, 2024 and filed with the U.S. Securities and Exchange Commission on such date. There are no arrangements or understandings between Ms. Davis and any other person pursuant to which Ms. Davis was appointed to the Board. There are no transactions in which Ms. Davis has or will have an interest that would be required to be disclosed pursuant to Item 404(a) of Regulation S-K under the Securities Exchange Act of 1934, as amended (the "Exchange Act").

ITEM 7.01 REGULATION FD DISCLSOURE.

On May 20, 2024, the Company issued a press release announcing the appointment of Sally Pope Davis to the Company’s Board. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated by reference herein.

As provided in General Instruction B.2 to Form 8-K, the information furnished in Exhibit 99.1 of this Current Report on Form 8-K shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, and such information shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

 

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ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.

 

99.1 Press Release dated May 20, 2024

104 Cover Page Interactive Data File (embedded within Inline XBRL document)

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

		FIRST FINANCIAL BANKSHARES, INC.
		(Registrant)
DATE: May 24, 2024	By:	/s/ F. Scott Dueser
		F. SCOTT DUESER
		Chairman, President and Chief Executive Officer

 

 

 

 

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For immediate release	For More Information: F. Scott Dueser, Chairman, President & CEO 325.627.7155

 

FIRST FINANCIAL BANKSHARES ANNOUNCES APPOINTMENT OF SALLY POPE DAVIS TO BOARD OF DIRECTORS

ABILENE, Texas, May 20, 2024 – The Board of Directors of First Financial Bankshares, Inc. (NASDAQ: FFIN) – announced today the appointment of Sally Pope Davis to the Company's Board of Directors. Ms. Davis was also appointed to the Board of Directors of First Financial Bank. She retired from Goldman Sachs in April 2024 after a 34-year career at the firm.

"Sally co-led one of the industry's largest U.S. small cap value funds during her tenure at Goldman Sachs Asset Management, while also having specific responsibility for and expertise in investments across the financial sector, including banks, thrifts, insurance companies, mortgage, capital markets and specialty finance. We are extremely honored to welcome her to the First Financial Bankshares Board of Directors," said F. Scott Dueser, Chairman, President and CEO of First Financial. "Sally is a member of the CFA Society New York and the CFA Institute, and a past president of the Bank and Financial Analysts Association. We look forward to having her knowledge, experience and direction on the Company's board as one of the top financial investors in the country."

Davis joined Goldman Sachs in 1989 and spent her first ten years at the firm as a sell-side research analyst covering U.S. regional banking companies. Previously, she was a sell-side bank analyst at Brown Brothers Harriman. Davis began her career at Chase Manhattan Bank in 1981, where she was a Vice President in capital planning and also held positions in corporate finance, specializing in financial institutions.

Ms. Davis is an experienced and in-demand public speaker, which includes giving presentations to boards of directors, senior management and leadership, risk management and investment groups. She has been a frequent participant on conference investor panels, has made appearances on CNBC, and has been quoted often in the financial press.

Ms. Davis holds degrees in finance (B.S., 1979) from the University of Connecticut and business administration (MBA, 1981) from the University of Chicago Graduate School of Business.

 

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About First Financial Bankshares, Inc.

 

Headquartered in Abilene, Texas, First Financial Bankshares is a financial holding company that, through its subsidiary, First Financial Bank, operates multiple banking regions with 79 locations in Texas, including Abilene, Acton, Albany, Aledo, Alvarado, Beaumont, Boyd, Bridgeport, Brock, Bryan, Burleson, College Station, Cisco, Cleburne, Clyde, Conroe, Cut and Shoot, Decatur, Eastland, El Campo, Fort Worth, Franklin, Fulshear, Glen Rose, Granbury, Grapevine, Hereford, Huntsville, Keller, Kingwood, Lumberton, Magnolia, Mauriceville, Merkel, Midlothian, Mineral Wells, Montgomery, Moran, New Waverly, Newton, Odessa, Orange, Palacios, Port Arthur, Ranger, Rising Star, Roby, San Angelo, Southlake, Spring, Stephenville, Sweetwater, Tomball, Trent, Trophy Club, Vidor, Waxahachie, Weatherford, Willis, and Willow Park. First Financial Bankshares, Inc., also operates First Financial Trust & Asset Management Company, with nine locations, and First Technology Services, Inc., a technology operating company.

First Financial Bankshares, Inc., is listed on The NASDAQ Global Select Market under the trading symbol FFIN. For more information about First Financial Bankshares, Inc., please visit our website at https://www.ffin.com.

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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 management of First Financial Bankshares, Inc. (the "Company"), 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 website 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.

 

 

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v3.24.1.1.u2

Document And Entity Information	May 20, 2024
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	May 20, 2024
Entity Registrant Name	First Financial Bankshares, Inc.
Entity Central Index Key	0000036029
Entity Emerging Growth Company	false
Entity File Number	0-07674
Entity Incorporation, State or Country Code	TX
Entity Tax Identification Number	75-0944023
Entity Address, Address Line One	400 Pine Street
Entity Address, City or Town	Abilene
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	79601
City Area Code	325
Local Phone Number	627-7155
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	FFIN
Security Exchange Name	NASDAQ

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