In other business, shareholders approved the advisory vote on compensation on named executive officers and ratified the Board's selection of Ernst & Young LLP as the Company's independent auditors.
"We are pleased to announce the increase in our quarterly cash dividend for our shareholders," said F. Scott Dueser, Chairman, President and CEO. "We are also grateful to our shareholders for the re-election of our directors and the passage of the two proposals."
About First Financial Bankshares
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.
ABILENE, Texas, April 28, 2020 /PRNewswire/ -- First Financial Bankshares, Inc. (NASDAQ:FFIN) – In connection with the 2020 Annual Shareholders' Meeting, the Board of Directors of First Financial Bankshares, Inc. today declared a $0.13 per share cash dividend for the second quarter, which represents a 8.3 percent increase and will be paid to shareholders of record on June 16, 2020, with payment set for July 1, 2020.
Shareholders re-elected eleven existing members to the Board of Directors. The re-elected directors are April Anthony, CEO, Encompass Health - Home Health and Hospice and Homecare Homebase, Dallas; Vianei Lopez Braun, Attorney, Decker Jones, P.C., Fort Worth; Tucker S. Bridwell, President of Mansfeldt Investment Corporation, Abilene; David Copeland, President, SIPCO, Inc., and Shelton Family Foundation, Abilene; Mike Denny, Owner/President of Batjer and Associates, Inc., Abilene; F. Scott Dueser, Chairman, President and CEO of First Financial Bankshares, Abilene; Murray Edwards, Principal, The Edwards Group, Clyde; Tim Lancaster, retired President and CEO of Hendrick Health System, Lubbock; Kade Matthews, ranching and investments, Amarillo; Robert Nickles, Jr., Executive Chairman of Alegacy Group, LLC, Houston; and Johnny E. Trotter, President and CEO, Livestock Investors, Ltd., Hereford.
Shareholders also recognized Ron Giddiens, investment and business consultant, San Angelo, Texas, and Ross H. Smith Jr., Chairman and President, Akrotex Inc., Orange, Texas who both retired from the board of directors after 11 years and six years of service, respectively.
Headquartered in Abilene, Texas, First Financial Bankshares, Inc. is a financial holding company that through its subsidiary, First Financial Bank, N.A., operates multiple banking regions with 78 locations in Texas, including Abilene, Acton, Albany, Aledo, Alvarado, Beaumont, Boyd, Bridgeport, Brock, Bryan, Burleson, Cisco, Cleburne, Clyde, College Station, Conroe, Cut and Shoot, Decatur, Eastland, El Campo, Fort Worth, Fulshear, Glen Rose, Granbury, Grapevine, Hereford, Huntsville, Keller, Kingwood, Magnolia, Mauriceville, Merkel, Midlothian, Mineral Wells, Montgomery, Moran, New Waverly, Newton, Odessa, Orange, Palacios, Port Arthur, Ranger, Rising Star, Roby, San Angelo, Southlake, Spring, Stephenville, Sweetwater, Tomball, Trent, Trophy Club, Vidor, Waxahachie, Weatherford, Willis, and Willow Park. The Company also operates First Financial Trust & Asset Management Company, N.A., with nine locations and First Technology Services, Inc., a technology operating company.
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 the COVID-19 pandemic and related government actions, 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.
