Management is authorized to execute these repurchases through open market purchases, block trades, or private negotiations. While the board has set a ceiling for the program, the bank is under no obligation to reach a minimum volume of acquisitions. The decision rests on the leadership’s assessment of market conditions and whether current pricing offers a favorable return for shareholders.
First Financial Bankshares Expands Stock Repurchase Program
Abilene-based First Financial Bankshares has authorized the repurchase of up to 7.2 million shares of its common stock, an increase from the previous 5 million-share limit. This program, which runs through July 31, 2027, accounts for approximately 5 percent of the company's currently outstanding shares.
David Bailey, President and CEO of First Financial, noted that the initiative underscores the company’s capital strength and the board's outlook for the institution. The bank, which operates 79 locations across Texas, continues to prioritize capital allocation strategies that align with its long-term financial positioning.
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