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First Financial Bankshares, Inc. (NASDAQ:FFIN) (the "Company", "we", "us", or "our") announced today the renewal of its existing stock repurchase plan. Pursuant to the renewed plan, the Company may repurchase up to 5,000,000 shares of its common stock, which represents approximately 3.5 percent of the Company's outstanding shares as of July 25, 2023, through July 31, 2024. The Board of Directors previously authorized the repurchase of up to 5,000,000 shares of common stock through July 31, 2023.
The stock repurchase plan authorizes management to repurchase shares at such time and price as repurchases are considered beneficial to the Company and its stockholders. Any repurchase of shares will be made through the open market, block trades, or in privately negotiated transactions in accordance with applicable laws and regulations. Under the repurchase plan, there is no minimum number of shares that the Company is required to repurchase.
"First Financial continues to have one of the strongest capital positions in the banking industry and we believe it is in the best interest of our shareholders to have a stock repurchase plan in place to be able to execute when the price of our shares are attractive," said F. Scott Dueser, Chairman, CEO and President of First Financial. "We also believe this repurchase plan demonstrates our confidence in the future of First Financial."
Posted In: FFIN
