FFIN subsidiaries file to convert from national to Texas state charters; expect Q4 2023 completion

FIRST FINANCIAL BANKSHARES INC

First Financial Bank and First Financial Trust filed conversion applications to Texas state charters on Sept 22 and Oct 10, 2023, respectively.
Bank will be regulated by Texas Dept. of Banking and Federal Reserve Bank of Dallas; Trust Company by Texas Dept. of Banking.
Company expects meaningful annual savings from reduced examination fees post-conversion.
No customer impact expected; services, products, and branch operations remain unchanged.
Conversions anticipated to close in Q4 2023, subject to regulatory approvals.

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