F. Dueser on business strategy
From First Financial Bankshares, Inc. 2016 Shareholders meeting. · · First Financial Bank
“We have a philosophy so different from most Texas banks because we don't want to be in the big city; we want to be around the big city. When you're in the big city, you're fighting the big boys and you just become a drop in the bucket. We'd much rather be community bankers and be the big fish in the little pond.”
On , F. Dueser, Chairman & Chief Executive Officer at FIRST FINL BANKSHARES INC, spoke about business strategy during First Financial Bankshares, Inc. 2016 Shareholders meeting. on First Financial Bank.
About F. Dueser
At the 2016 annual shareholders meeting, F. Dueser, Chairman and CEO of First Financial Bankshares, reported that 2015 marked the company's 29th consecutive year of increased earnings, with net income rising 12.1 percent to $100.4 million. He attributed growth partly to the acquisition of First Bank in Conroe, Texas, and noted the company's efficiency ratio of 47.61 percent placed it in the 93rd percentile of its peer group. Dueser stated that the board had voted to increase the quarterly dividend by 2 cents to 18 cents, a 12.5 percent raise. Dueser highlighted the company's financial exploitation prevention program, saying it saved customers $1 million in the prior year and led to arrests. He mentioned that the American Bankers Association Foundation and the Texas Bankers Association had recognized the bank for this work. Dueser also discussed the company's strategy of operating as a community bank in smaller markets, describing it as preferring to be "the big fish in the little pond." He noted that the company was preparing to reach the $10 billion asset mark, which would increase compliance costs, and emphasized the importance of mortgage lending and continued growth to maintain shareholder returns.