Slides
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0 4th Quarter 2025
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Forward Looking StatementThe numbers, as of and for the quarter ended December 31, 2025, contained within this presentationare unaudited. 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 uponthe belief of the Company’s management, as well as assumptions made beyond information currentlyavailable to the Company’s management and, may be, but not necessarily are identified by such wordsas “believes” , “expect” , “plan” , “anticipate” , “target” , “forecast” and “goal” . Because such “forward-looking statements” are subject to risks and uncertainties, actual results may differ materially fromthose expressed or implied by such forward-looking statements. Factors that could cause actual resultsto differ materially from the Company’s expectations include competition from other financialinstitutions and financial holding companies; the effects of and changes in trade, monetary and fiscalpolicies and laws, including interest rate policies of the Federal Reserve Board; changes in the demandfor loans; fluctuations in value of collateral and loan reserves; inflation, interest rate, market andmonetary fluctuations; changes in consumer spending, borrowing and savings habits; and acquisitionsand integration of acquired businesses, and similar variables. Other key risks are described in theCompany’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 Companyat 325.627.7155. The Company does not undertake any obligation to update publicly or revise anyforward-looking statements herein because of new information, future events or otherwise.
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Who We Are$15.4 billion financial holding company headquartered in Abilene, TexasGroup of 8 separate bank regionsTrust and Asset Management Company with 9 locations and manages approximately $11.9 billion in assets135 year history
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Top Rated Bank in Texas by Newsweek
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What Makes Us Different 4 One Bank, Eight Regions ConceptOne BankConsolidation of credit, customer contact center, internal audit, accounting, technology, human resources, risk management, training, and compliance (drives lower efficiency ratio)Eight RegionsRegional Presidents run their regionsLocal Boards – Movers and shakers of the CommunityKeep our regions locally focusedMake sure we meet the needs of the communityHelp us make better loan decisionsHelp us market the region
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Diverse Footprint Across Texas 5 www.ffin.com/locations
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Recent De Novo GrowthFranklin: Branch of Bryan / College Station – August 2023Lumberton: Branch of Orange – December 2022Bryan / College Station: Office of Trust Company – September 2020Austin: Office of the Mortgage Company – January 2020Grand Parkway (Spring): Branch of Conroe – Opened January 2019Houston: Office of Trust Company – December 2018New Waverly: Branch of Huntsville – August 2014 (New Building –Opened December 2018)Beaumont: Branch of Orange – August 2014
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FFIN’s Unique Positioning in Texas Key MarketsBankSan Antonio, Austin, Corpus Christi, DFW, Rio Grande, West TexasFrostRio Grande, Houston, San Antonio, OklahomaInternational BancsharesDallas, LouisianaOrigin BancorpHouston, DFW, Austin, West Texas, South Central Texas, OklahomaProsperityEast Texas, Fort WorthSouthsideDFW, Austin, San Antonio, HoustonTexas Capital Dallas TriumphLubbock, Dallas, Houston, West TexasSouth Plains Financial, Inc.DFW, Lubbock, Austin, San Antonio, Houston, Corpus ChristiHilltop Holdings
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Customer Service First (CS1st)Began CS1st initiative in 2005 with Dennis Snow (former Disney executive charged with Disney’s customer experience).Implemented the Service Improvement Team with ten distinct teams with various strategic objectives.Key SuccessesEstablished a robust employee recognition programDeveloped a centralized team to address system and process obstaclesDesigned and implemented a nationally recognized Financial Exploitation programDay of Service (Completed 10th Annual on October 13th, 2025)Have transitioned what began as a service initiative into a culture of service excellenceSince 2019, the Company has partnered with Horst Schulze (co-founder and former COO of the Ritz-Carlton Hotel Company) to further enhance the Company’s culture by developing:Defined Clear Vision and Mission Statements21 Service Non-negotiablesDaily Line-UpsTrain-the-trainer sessions for all branch managers (over 300 employees spent 2 days in training)Incorporated into new employee orientation
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Years in IndustryYears with Company5449Scott DueserExecutive Chairman of the BoardFirst Financial Bankshares, Inc.2222David BaileyChief Executive Officer & President First Financial Bankshares, Inc.4332Ron ButlerVice Chairman of the Executive Management Committee353Michelle HickoxExecutive Vice President & Chief Financial Officer First Financial Bankshares, Inc.1614Kyle McVey, CPAExecutive Vice President Chief Financial Officer & Investor Relations DirectorFirst Financial Bank 2215Luke LonghoferExecutive Vice President Chief Credit OfficerFirst Financial Bankshares, Inc.2017Lon Biebighauser, CTFAPresident First Financial Trust & Asset Management Executive Management Team at First Financial
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Years in IndustryYears with Company3510Randy RoeweExecutive Vice PresidentChief Risk Officer466John RuzickaExecutive Vice President Chief Banking Operations Officer251Brian GoodrichExecutive Vice President General Counsel37-Tim BrownExecutive Vice President Chief Information Officer Executive Management Team at First Financial
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Years in IndustryYears with Company2424Chris EvattSenior Banking ExecutiveSouthern Banking Regions287James AlexanderExecutive Vice PresidentCommercial Banking223Rett EverettExecutive Vice PresidentCredit Administration – DFW211Keith MortonExecutive Vice PresidentCredit Administration – Southeast Texas172Michael ParkerExecutive Vice President Chief Compliance Officer 201Javier JuradoExecutive Vice President Chief Audit Executive19-Jeff VorheesExecutive Vice President Treasurer211Eric BonnellSenior Vice President Enterprise Risk Management Senior Leadership 17
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Years in IndustryYears with Company1610Josh BrownExecutive Vice PresidentChief Human Resources Officer379Frank GioiaExecutive Vice PresidentCustomer Care Center229Brandon HarrisSenior Vice President Appraisal Services3427Lori HillExecutive Vice President Retail36-James HintonPresident First Financial Mortgage3610Gary MilliornSenior Vice President Property Management Line of Businesses Executives 17
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Years in IndustryYears with Company2012Chris SchjetnanExecutive Vice PresidentCommunity Lending and Outreach366Andrea Smiddy-SchlagelExecutive Vice President Treasury Management301Dan SummerfordExecutive Vice PresidentDirector of Middle Market Lending65Violet Watson GriggsSenior Vice PresidentAdvertising and Marketing3913Mike WolvertonExecutive Vice PresidentConsumer Lending Line of Businesses Executives 19
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Experienced Regional CEOs & Presidents Years in IndustryYears with Company4234Marelyn Shedd, Abilene (CEO)1414Marshall Morris, Abilene (President)345Nora Thompson, Bryan/College Station (CEO)365Austin Bryan, Bryan/College Station (President)1715Marcus Morris, Chisholm Trail (CEO)247Austin Elsner, Chisholm Trail (President)3221Justin Hooper, Cross Timbers (CEO)2725Trent Swearengin, Cross Timbers (President)2424Candice Kanady, Eastland Division President227Shelley Dacus, Greater Houston (CEO)1414Blaine Caillier, Southeast Texas (CEO)243Shelby Bruhn, Southlake (CEO)322Rick Vaughan, West Texas (CEO) 2926Rodney Foster, West Texas (President)
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$10,905$13,102$12,974$13,106$13,979$15,446 202020212022202320242025 Total Asset Growth(in millions)
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$2,983 $3,780 $4,062 $3,435 $3,348 $3,401 $5,693 $6,786 $6,944 $7,703 $8,751 $9,945 2020 2021 2022 2023 2024 2025 Noninterest-Bearing Interest-Bearing$10,566$13,346$8,676$11,006$12,099Total Deposit Growth$11,138(in millions)
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Deposit Products - $13.3 Billion Time6.7% Non-interest bearing checking25.5% NOW & Savings48.7% Money Market19.1%
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Total Loan Growth 2020 2021 2022 2023 2024 2025 $5,255(in millions) $5,427$6,454$7,163$7,921$8,188
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Overview of Loan Portfolio – $8.2 Billion Commercial 13.69%Agriculture1.17%Real Estate - Farm4.02%Real Estate – C&D14.18%Municipal4.20%Real Estate - Non Owner10.21%Real Estate - Owner13.74%Real Estate - Residential28.01%Consumer - Auto8.98%Consumer - Non-Auto1.80% Real Estate – C&D:Residential Development – 76.56%Commercial Development – 23.44% Consumer– Auto:Average FICO Score: 759Average DTI: 27.79Average LTV: 79.54
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Diversified mix of CRE by Property typeBalanced portfolio across all of Texas, with less than 2% of loans located outside of the StateExcellent credit quality, 2.5% of CRE loans are classified, and less than 1.0% are non-performing (as a percentage of total CRE loans) Commercial R/E Overview 49 Breakdown of Single/Special Purpose R/E
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Loan to Deposit Ratio 20252024202320222021202061.165.164.358.651.460.6End ofPeriod82.6*82.583.980.972.879.4Peer Group *As of Sept. 30, 2025
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Sound Lending Practices 2025202420232022202120200.69%0.80%0.49%0.38%0.63%0.83%FirstFinancial0.82%*1.05%0.75%0.59%0.71%0.97%Peer Group Nonperforming assets as a percentage of loans + foreclosed assets(FFIN vs. Peers) *As of March 31, 2019 *As of Sept. 30, 2025
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Allowance for Credit Losses and Provision for Loan Losses* $66,534 $63,465 $75,834 $88,734 $98,325 $105,536 $16,048 $(2,089)$11,540 $15,050 $13,048 $30,898 *2020 2021 2022 2023 2024 2025*Excludes reserve and provision for unfunded commitments. (in thousands)
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Summary of Bond Portfolio - $5.51 Billion Muni 31.76%MBS 47.36%CMBS17.94% Treasuries1.10% Corporates/Other1.84%
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$7,510 $8,699 $8,755 $9,781 $10,834 $11,942 2020 2021 2022 2023 2024 2025$5,398 Growth in Trust Assets $5,880$6,297$7,550$8,115$8,788Total Trust Assets – Book Value / Fair Value (in millions)
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Total Trust Fees $29,531 $36,145 $39,995 $40,456 $47,449 $51,861 2020 2021 2022 2023 2024 2025 (in millions) Growth in FFTAM Fees (in thousands)
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Total Trust Net Income $14,471 $17,723 $20,857 $21,624 $25,724 $28,382 2020 2021 2022 2023 2024 2025 (in millions) Growth in FFTAM Income (in thousands)
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Strong Historical Earnings $202.0 $227.6 $234.5 $199.0 $223.5 $253.6 2020 2021 2022 2023 2024 2025 (in millions) (in millions)
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Strong Shareholders Earnings $1.42$1.59$1.64$1.39$1.56$1.77 2020 2021 2022 2023 2024 2025 (in millions) Diluted Earnings Per Share
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1.98%1.89%1.76%1.55%1.68%1.76%0.82%1.26%1.11%0.89%0.88%1.03%*2020 2021 2022 2023 2024 2025 First Financial Peer Group FFIN Outperforms PeersReturn on Average Assets*As of Sept. 30, 2025
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Strong Return on Capital 12.93%13.31%16.72%14.99%14.51%14.59%7.26%11.94%11.16%9.14%8.45%9.41%*2020 2021 2022 2023 2024 2025 First Financial Peer Group Return on Average Equity*As of Sept. 30, 2025
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Strong Return on Capital 16.25%16.35%21.59%19.65%18.24%17.80% 2020 2021 2022 2023 2024 2025 Return on Average Tangible Equity
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3.81%2.97%2.50%2.70%2.90%3.10%3.30%3.50%3.70%3.90%4.10%4.30%4.50% 3rd Qtr.'224th Qtr.'221st Qtr.'232nd Qtr.'233rd Qtr.'234th Qtr.'231st Qtr.'242nd Qtr.'243rd Qtr.'244th Qtr.'241st Qtr.'252nd Qtr.'253rd Qtr.'254th Qtr.'25First FinancialPeer Group Net Interest Margin 43 Quarterly Interest Margin
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Working Smarter 20252024202320222021202045.53%47.23%47.26%42.77%45.84%45.49%FirstFinancial60.08%*62.96%62.76%57.36%58.80%61.85%Peer Group Efficiency Ratio(FFIN vs. Peers) *For the nine months ended Sept. 30, 2025
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Dividends Per ShareAnnual Dividends Declared Per Share $0.51$0.58$0.66$0.71$0.72$0.75 2020 2021 2022 2023 2024 2025
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Strong Stock Performance -200.00%0.00%200.00%400.00%600.00%800.00%1000.00% FFINS&P 500NASDAQDow JonesJan . ‘07 Dec. ’16Dec . ‘09Dec ‘07Dec ‘08Dec. ‘10Dec. ’11Dec. ’12Dec. ’14Dec. ’17Dec. ’1848Dec. ’19Dec. ’20Dec. ’22Dec.’24Dec’25
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