ABILENE, Texas, Dec. 1 /PRNewswire-FirstCall/ -- First Financial Bankshares, Inc. (Nasdaq: FFIN) today announced that it has completed the acquisition of Bridgeport Financial Corporation, the parent company of The First National Bank of Bridgeport, with banking offices in Bridgeport, Boyd and Decatur. As previously announced, The First National Bank of Bridgeport will be combined with First Financial Bank, N.A., Southlake, to form a $250 million bank serving Wise County and northern Tarrant County. First Financial Bankshares acquired Bridgeport Financial Corporation for the cash purchase price of $20.3 million plus the assumption of $5.5 million in debt and trust preferred securities. As of November 30, 2005, The First National Bank of Bridgeport had total assets of $145.5 million. "We welcome the employees and customers of The First National Bank of Bridgeport to the First Financial Bankshares' family," said F. Scott Dueser, President and CEO. "Wise County is an attractive, rapidly growing market that fits our acquisition profile and adds to our growing footprint of community banks within a 50-mile radius of the Dallas/Fort Worth metroplex. We are excited to be a part of these great communities." Billie C. Green, Chairman, President and CEO of The First National Bank of Bridgeport, said the newly combined bank will benefit customers, employees and the community. "First Financial offers our customers the expanded services and products of a larger bank while maintaining a strong commitment to involvement with the local community," Green said. "Our customers will continue to deal with the same friendly, local employees that they've come to expect since The First National Bank of Bridgeport was founded nearly a century ago." Headquartered in Abilene, Texas, First Financial Bankshares is a financial holding company that operates ten separately chartered banks with 44 locations in Texas, a trust company and a technology operating company. These subsidiaries are First Financial Bank, N.A., Abilene, Clyde and Moran; First Financial Bank, N.A., Eastland, Ranger and Rising Star; First Financial Bank, N.A., Cleburne, Burleson, Alvarado and Midlothian; Hereford State Bank, Hereford; City National Bank, Mineral Wells; San Angelo National Bank, San Angelo; First Financial Bank, N.A., Southlake, Trophy Club, Keller, Bridgeport, Boyd and Decatur; First Financial Bank, N.A., Stephenville, Granbury and Glen Rose; First National Bank, Sweetwater, Roby and Trent; Weatherford National Bank, Weatherford, Willow Park and Aledo; First Financial Trust & Asset Management Company, N.A.; and First Technology Services, Inc. The Company is listed on The Nasdaq Stock Market under the trading symbol FFIN. For more information about First Financial Bankshares, please visit our Web site at http://www.ffin.com . 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 Company's management, 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 Web site 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.
SOURCE First Financial Bankshares, Inc.