First Financial files applications for subsidiaries to convert to Texas charters

First Financial’s subsidiaries, First Financial Bank, N.A. and First Financial Trust and Asset Management Company, have each filed applications with the Texas Department of Banking to convert to a Texas state banking association and a Texas chartered trust company, respectively. The Bank has been a national bank since its inception in 1890 and the Trust Company has been a national trust company since its inception in 2003. The Bank and the Trust Company filed their applications with the Texas Department of Banking on September 22, 2023, and October 10, 2023, respectively. The Bank and the Trust Company expect to complete the conversions, following receipt of the necessary regulatory approvals, during Q4. Upon completion of the conversion, the Bank will be regulated by the Texas Department of Banking and the Federal Reserve Bank of Dallas, rather than the Office of the Comptroller of the Currency. Likewise, the Trust Company will be regulated by the Texas Department of Banking rather than the OCC. The Bank will retain its FDIC deposit insurance in connection with its conversion.