First Financial has increased earnings

Published Thursday, February 6, 2008

By Denny Deady

First Financial Bankshares, Inc. of Abilene, with branches in Bridgeport, Decatur and Boyd, has reported earnings for the fourth quarter of 2007 of $12.51 million, a 6.8 percent increase compared with earnings of $11.71 million in the same quarter last year. Basic earnings per share increased 7.1 percent to $0.60, compared with $0.56 in the same period last year.

The company reported its 21st consecutive year of increased earnings. Net income for the year rose 7.5 percent to $49.49 million from $46.03 million in 2006.

"We are pleased to report another good quarter and year for our company and our shareholders," said F. Scott Dueser, Chairman, President and Chief Executive Officer. "In the fourth quarter, we continued to grow loans, trust fees and ATM fees and improved our net interest margin. We feel fortunate to operate in Texas markets where the economy remained strong in 2007 and looks promising for 2008, even though the national economy may be slowing. In light of the national economy, we will proceed with caution to maintain our credit quality and margin."

Headquartered in Abilene First Financial Bankshares is a financial holding company that operates 10 separately chartered banks with 45 locations in Texas.