First Financial Bankshares Announces Acquisition

Apr 12, 2001, 01:00 ET from First Financial Bankshares, Inc.

    ABILENE, Texas, April 12 /PRNewswire/ --
 First Financial Bankshares, Inc. (Nasdaq:   FFIN) and City Bancshares, Inc., the
 holding company of City National Bank in Mineral Wells, Texas, have entered
 into a definitive agreement for First Financial Bankshares to acquire City
 Bancshares in a cash purchase transaction.  The agreement was jointly
 announced today by Kenneth T. Murphy, Chairman of First Financial Bankshares,
 and Jimmy Seay, Chairman and President of City Bancshares and City National
 Bank.  Following regulatory approval, the transaction is expected to be
 finalized by mid-year 2001.
     City National Bank was chartered in 1925 and has a solid history of sound
 financial performance.  As of March 31, 2001, the Bank had $90 million in
 total assets and approximately $8 million in shareholders' equity.  Mineral
 Wells is located 50 miles west of Fort Worth and enjoys a diversified economy
 based on manufacturing, agriculture and water recreation.
     In making the announcement, Kenneth T. Murphy stated, "We are pleased to
 have the opportunity to be associated with this well-established bank and to
 strengthen our position in this area of the State."  Jimmy Seay commented, "We
 have always held the highest regard for First Financial Bankshares.  Their
 commitment to community banking and quality customer service is of paramount
 importance to us."
     City National Bank will become the 10th member bank of First Financial
 Bankshares.  Headquartered in Abilene, Texas, First Financial Bankshares is a
 multi-bank holding company with consolidated assets totaling $1.8 billion.
 Affiliated banks of the Company are First National Bank of Abilene, Abilene;
 Eastland National Bank, Eastland; First Financial Bank, N.A., Cleburne;
 Hereford State Bank, Hereford; San Angelo National Bank, San Angelo; Texas
 National Bank, Southlake; Stephenville Bank & Trust Co., Stephenville; First
 National Bank, Sweetwater; and Weatherford National Bank, Weatherford.
     Stock of First Financial Bankshares, Inc. is traded on The Nasdaq Stock
 Market under the trading symbol FFIN.
 
 

SOURCE First Financial Bankshares, Inc.
    ABILENE, Texas, April 12 /PRNewswire/ --
 First Financial Bankshares, Inc. (Nasdaq:   FFIN) and City Bancshares, Inc., the
 holding company of City National Bank in Mineral Wells, Texas, have entered
 into a definitive agreement for First Financial Bankshares to acquire City
 Bancshares in a cash purchase transaction.  The agreement was jointly
 announced today by Kenneth T. Murphy, Chairman of First Financial Bankshares,
 and Jimmy Seay, Chairman and President of City Bancshares and City National
 Bank.  Following regulatory approval, the transaction is expected to be
 finalized by mid-year 2001.
     City National Bank was chartered in 1925 and has a solid history of sound
 financial performance.  As of March 31, 2001, the Bank had $90 million in
 total assets and approximately $8 million in shareholders' equity.  Mineral
 Wells is located 50 miles west of Fort Worth and enjoys a diversified economy
 based on manufacturing, agriculture and water recreation.
     In making the announcement, Kenneth T. Murphy stated, "We are pleased to
 have the opportunity to be associated with this well-established bank and to
 strengthen our position in this area of the State."  Jimmy Seay commented, "We
 have always held the highest regard for First Financial Bankshares.  Their
 commitment to community banking and quality customer service is of paramount
 importance to us."
     City National Bank will become the 10th member bank of First Financial
 Bankshares.  Headquartered in Abilene, Texas, First Financial Bankshares is a
 multi-bank holding company with consolidated assets totaling $1.8 billion.
 Affiliated banks of the Company are First National Bank of Abilene, Abilene;
 Eastland National Bank, Eastland; First Financial Bank, N.A., Cleburne;
 Hereford State Bank, Hereford; San Angelo National Bank, San Angelo; Texas
 National Bank, Southlake; Stephenville Bank & Trust Co., Stephenville; First
 National Bank, Sweetwater; and Weatherford National Bank, Weatherford.
     Stock of First Financial Bankshares, Inc. is traded on The Nasdaq Stock
 Market under the trading symbol FFIN.
 
 SOURCE  First Financial Bankshares, Inc.