First Financial’s banking operations now include 70 locations that span from Hereford in the Panhandle to Orange in southeast Texas.
In accordance with the terms of the definitive agreement, First Financial issued 1,755,374 shares of First Financial common stock, with an approximate value of $61.0 million, to the shareholders of FBC Bancshares, Inc.
As of June 30, 2015, First Bank had total assets of approximately $372.19 million, total loans of approximately $257.05 million and total deposits of approximately $339.42 million.
"We are so excited to welcome the First Bank team into the First Financial family," said F. Scott Dueser, Chairman, President and CEO of First Financial Bankshares. "We are most impressed with the employees, officers, management and board of this quality bank, who share our same values, philosophies and commitment to outstanding customer service."
"With its larger size and successful track record, First Financial offers our customers new and expanded services and creates more opportunity for our employees," said Sam Baker, President and CEO of First Bank.
"Our customers will continue to see the same friendly, local employees and the same strong commitment to the local community. At the same time, we will be able to offer a broader range of banking products and services including expanded depository products, state-of-the-art mobile banking and treasury management services, a larger lending capacity and trust services."
