Mineral Wells Index, Mineral Wells, TX

Business

The Index welcomes comments. Inappropriate language or comments outside our standards will be removed.

comments powered by Disqus
January 29, 2012

First Financial Bankshares marks 25th consecutive year of earnings growth

Mineral Wells Index

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
Business
Featured Ads
Front page
Seasonal Content
Community Calendar
Loading…
Events by eviesays.com
AP Video
Huge Tornado Kills Dozens Near Oklahoma City Raw: Rescuers Pull Tornado Survivors to Safety Oklahoma Gov: 'Hearts Are Broken' After Tornado Raw: Walking in a Flattened Okla. Neighborhood Raw: Rescue Workers Search Oklahoma School Raw: Witness Describes Scene After Okla. Tornado Raw: Aftermath of Massive Tornado in Oklahoma Raw: House Burns After Massive Oklahoma Tornado Raw: Tornado on the Ground in Oklahoma Split-second Choice Ended With NY Student Dead White House Backs 'Shield Law' for Media Wave of Attacks Kills Scores in Iraq Pug Life on Display at Wisconsin Festival Company Promises to Make All Snail Mail Digital Analyst: Tumblr Fills Void in Yahoo's Offerings Commuters Face Delays After Conn. Train Accident Raw: Swarm of Tornadoes Slams Plains Raw: Fierce Bombing in Qusair, Syria RAW: TV Staff Take Cover From Tornado Raw: Accused US Spy Reportedly Leaves Russia
Hyperlocal Search
Premier Guide
Find a business

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