Figma Shares Indicated To Open $105/$110
ABILENE, Texas - First Financial Bankshares, Inc. (NASDAQ:FFIN), a $5.2 billion market cap regional bank with a "GOOD" InvestingPro Financial Health score, announced Wednesday the promotion of Kyle McVey to Executive Vice President and Chief Financial Officer of First Financial Bank.
McVey takes over the position previously held by Michelle Hickox, who will continue serving as Executive Vice President and Chief Financial Officer for the parent company, First Financial Bankshares, which has maintained dividend payments for 33 consecutive years and achieved a 16.4% revenue growth in the last twelve months.
McVey joined First Financial in 2011 after working two years with KPMG LLP in Jacksonville, Florida. In his most recent role, he served as Executive Vice President and Chief Accounting Officer, overseeing financial reporting, acquisition strategy, audit controls, and investor relations.
A licensed CPA, McVey holds bachelor’s degrees in accounting and finance and a master’s in accounting from Abilene Christian University. He is also a graduate of the Southwestern Graduate School of Banking at Southern Methodist University, where he was recognized as valedictorian of his class.
"Kyle’s contributions have significantly shaped our Company’s progress," said F. Scott Dueser, Chairman and CEO of First Financial Bankshares, according to the company’s press release.
First Financial Bankshares operates 79 banking locations across Texas through its subsidiary, First Financial Bank. The financial holding company also operates First Financial Trust & Asset Management Company and First Technology Services, Inc.
The promotion is part of the company’s strategic succession planning as it continues to expand its operations throughout Texas. According to InvestingPro data, three analysts have recently revised their earnings estimates upward for the upcoming period, suggesting positive momentum for the company’s growth strategy. Additional insights and financial metrics are available through InvestingPro’s comprehensive analysis platform.
In other recent news, First Financial Bankshares reported strong second-quarter earnings, surpassing analyst expectations. The company achieved a net income of $66.66 million, or $0.47 per share, reflecting a 27% increase from the previous year, and exceeded the analyst consensus of $0.44 per share. Revenue for the quarter reached $156.6 million, slightly above the projected $156.41 million. Additionally, First Financial Bankshares announced the renewal of its stock repurchase plan, allowing the company to buy back up to 5 million shares of its common stock through July 31, 2026. This repurchase plan accounts for approximately 3.5% of the company’s outstanding shares as of July 22, 2025. These recent developments indicate ongoing strategic initiatives by First Financial Bankshares to enhance shareholder value.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.