ABILENE, Texas, March 16, 2011 /PRNewswire/ -- First Financial Bankshares, Inc. (Nasdaq: FFIN) has been included in the 2011 Bank Honor Roll by KBW, Inc., a full-service investment bank that specializes in the financial services sector. First Financial Bankshares is one of only 40 banks named to the Bank Honor Roll out of nearly 400 banks screened by KBW. First Financial is one of only two Texas-based banks on the list.
In a news release, KBW said it selected banking companies for "successfully navigating the financial crisis and generating superior ten-year track records." KBW said Honor Roll winners are publicly traded banking companies with at least $500 million in total assets that meet the following three criteria:
No annual loss reported in net income per share before extraordinary items over the past 10 years.
2010 annual reported net income per share before extraordinary items must have been equal to or greater than peak net income per share over the past 10 years.
Consecutive increases in net income per share before extraordinary items since 2009.
"We are pleased to receive this recognition from KBW for our successful financial performance during both the recent recession and the longer term," said F. Scott Dueser, Chairman, President and Chief Executive Officer. "This accomplishment is the result of the continued dedication and hard work by our Board of Directors, officers and employees. We thank all of them for their role in the combined success of the company."
In its news release, KBW said that the 40 banking companies on this year's Bank Honor Roll, on average, outperformed both the banking industry and the overall stock market in terms of stock price performance during the five-year period between 2005 and 2010.
Headquartered in Abilene, Texas, First Financial Bankshares is a financial holding company that operates 11 separately chartered banks with 52 locations in Texas. The bank subsidiaries are First Financial Bank, N.A., Abilene, Albany, Clyde, Moran and Odessa; First Financial Bank, N.A., Eastland, Ranger and Rising Star; First Financial Bank, N.A., Cleburne, Burleson, Alvarado, Midlothian and Crowley; First Financial Bank, Hereford; First Financial Bank, Huntsville; First Financial Bank, N.A., Mineral Wells; First Financial Bank, N.A., San Angelo; First Financial Bank, N.A., Southlake, Bridgeport, Boyd, Decatur, Keller and Trophy Club; First Financial Bank, N.A., Stephenville, Granbury, Glen Rose and Acton; First Financial Bank, N.A., Sweetwater, Roby, Trent and Merkel; and First Financial Bank, N.A., Weatherford, Willow Park, Aledo, Brock and Fort Worth. The Company also operates First Financial Trust & Asset Management Company, N.A., with six locations and First Technology Services, Inc., a technology operating company.
The Company is listed on The NASDAQ Global Select Market under the trading symbol FFIN. For more information about First Financial Bankshares, please visit our website 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.