4th Quarter 2014

Forward Looking Statement

The numbers, as of and for the quarter and year ended December 31, 2014, contained within this

presentation are unaudited. Certain statements contained herein may be considered “forward-looking

statements” as defined in the Private Securities Litigation Reform Act of 1995. These statements are

based upon the belief of the Company’s management, as well as assumptions made beyond

information currently available to the Company’s management and, may be, but not necessarily are

identified by such words as “expect”, “plan”, “anticipate”, “target”, “forecast” and “goal”. Because such

“forward-looking statements” are subject to risks and uncertainties, actual results may differ materially

from those expressed or implied by such forward-looking statements. Factors that could cause actual

results to differ materially from the Company’s expectations include competition from other financial

institutions and financial holding companies; the effects of and changes in trade, monetary and fiscal

policies and laws, including interest rate policies of the Federal Reserve Board; changes in the demand

for loans; fluctuations in value of collateral and loan reserves; inflation, interest rate, market and

monetary fluctuations; changes in consumer spending, borrowing and savings habits; and acquisitions

and integration of acquired businesses, and similar variables. Other key risks are described in the

Company’s reports filed with the Securities and Exchange Commission, which may be obtained under

“Investor Relations-Documents/Filings” on the Company’s web site or by writing or calling the Company

at 325.627.7155. The Company does not undertake any obligation to update publicly or revise any

forward-looking statements herein because of new information, future events or otherwise.

2

Who We Are

$5.8 billion financial holding company

headquartered in Abilene, Texas

Group of 12 separate regions

125-year history

Growth markets include 50 mile radius of

the larger cities of Texas

3

Recognitions

Sandler O’Neil Bank & Thrift Small-Cap All Stars – September

2014

American Banker - #11 – Based on three year average Return on

Equity – August 2014

ABA Banking Journal - #8 – Top Performing mid-sized banks

($1B - $10B) – May 2014

2014 Proven Performers Award Winner – Bank Intelligence

Solutions

KBW Honor Roll – One of thirty-one banks named – April 2014

SNL Financial #7 Best Performing Regional Bank – April 2014

Nifty 50: Bank Director Magazine - #12 – Based on Return on

Equity / Average Tangible Equity – January 2014

4

5

What Makes Us Different

One Bank, Twelve Regions Concept

One Bank

Consolidation of backroom operations, technology, and

compliance (lower efficiency ratio)

Twelve Regions

Regional Presidents run their regions

Local Boards – Movers and Shakers of the Community

Keep our regions locally focused

Make sure we meet the needs of the community

Help us make better loan decisions

Help us market the region

6

FFIN’s Unique Positioning in Texas

Bank Key Markets

Comerica DFW, Austin, Houston, California, Michigan, Florida, Mexico

Green Houston, Austin, Dallas (New Public Company – August 2014)

Frost San Antonio, Austin, Corpus Christi, DFW, Rio Grande, West Texas

Independent North and Central Texas

International Bancshares Rio Grande, Houston, San Antonio, Oklahoma

Legacy Texas Dallas

Prosperity Houston, DFW, Austin, West Texas, South Central Texas, and Oklahoma

Southside East Texas

Texas Capital DFW, Austin, San Antonio, and Houston

Triumph Dallas (New Public Company – November 2014)

Veritex Dallas (New Public Company – October 2014)

7

Orange Acquisition

Effective May 31, 2013

Orange, Jefferson and Newton Counties

Approximately 350,000 Residents

Strategically located on Interstate 10 – 100 miles east of Houston

Three Major Shipping Ports for Energy and Petrochemical industries

Large refineries, natural gas terminals and recent investment from large

Fortune 500 Companies, such as Exxon Mobil, DuPont and Goodyear

$443.8 million in Assets*

$386 million in deposits

$293.3 million in loans

Approximately 1.3x book; 13x last twelve months earnings (tax effected)

Orange acquisition is consistent with our acquisition model of high growth areas

and along the Interstates

Provides Diversification

#1 Market Share in Orange County – 40%, more than twice the nearest competitor

*As of May 31, 2013

8

9

Texas: Large and Growing

Five most populous states:* Growth

(2003 – 2013)

California 38.3 million 8.7%

Texas 26.5 million 20.1%

New York 19.7 million 2.5%

Florida 19.6 million 15.0%

Illinois 12.9 million 2.6%

* U.S. Census Bureau

10

Target Markets – Population Growth

Population growth (2003-2013) in FFIN expansion markets:*

Texas 20.1%

Bridgeport & Wise County 13.2%

Fort Worth & Tarrant County 23.2%

Cleburne & Johnson County 12.0%

Weatherford, Willow Park, Aledo & Parker County 25.6%

Granbury & Hood County 18.2%

Stephenville & Erath County 17.9%

* U.S. Census Bureau

11

Texas Benefits

State unemployment rate at 4.1%, state’s lowest rate

since November 2008

Only Texas and New York have restored all the jobs

lost when recession hit in 2007

CEO Magazine ranks Texas best state for business –

for seventh consecutive year

Texas created more jobs (310,000) during the prior

twelve months, more than any other state

Texas created more private sector jobs than any other

state during the past decade

Core Markets: West Central Texas

Markets served benefiting from well-established,

long- time customers

REGIONASSET

SIZE*LOCATIONS

DEPOSIT

MARKET SHARE**

MARKET

SHARE RANK**

First Financial Bank

(Abilene, Clyde, Moran, Albany, Odessa)

$1,830M 15 48% 1

First Financial Bank

(Hereford)

$165M 1 42% 1

First Financial Bank

(Eastland, Ranger, Rising Star, Cisco)

$241M 4 66% 1

First Financial Bank

(Sweetwater, Roby, Trent, Merkel)

$200M 4 36% 1

First Financial Bank

(San Angelo)

$655M 3 19% 2

TOTALS $3,091M 27 * Data as of 12-31-14

** Data as of 06-30-14

12

Expansion Markets

REGION ASSET SIZE* LOCATIONSDEPOSIT MARKET

SHARE**

MARKET SHARE

RANK**

First Financial Bank

(Cleburne, Burleson, Alvarado)

(Midlothian, Waxahachie)

$419M 4

2

20%

4%

2

6

First Financial Bank

(Southlake, Trophy Club, Keller, Grapevine)

(Bridgeport, Decatur, Boyd)

$401M 4

3

5%

19%

5

3

First Financial Bank

(Stephenville, Granbury, Glen Rose, Acton)

$473M 6 22% 2

First Financial Bank

(Weatherford, Aledo, Willow Park, Brock, Ft. Worth)

$494M 7 23% 1

First Financial Bank

(Mineral Wells)

$263M 1 38% 1

First Financial Bank

(Huntsville, New Waverly)

$192M 2 19% 2

First Financial Bank

(Orange, Mauriceville, Vidor)

(Newton, Port Arthur, Beaumont)

$483M 3

3

41%

10%

1

5

TOTALS $2,725M 35* Data as of 12-31-14

** Data as of 06-30-14

13

Recent De Novo Growth Lubbock: Office of Trust Company – September 2014

New Waverly: Branch of Huntsville – August 2014

Beaumont: Branch of Orange – August 2014

Weatherford: I-20 Branch – June 2013 (New Building Opened January 2015)

San Angelo: HEB Branch – March 2013

Waxahachie: Branch of Cleburne – December 2012

Abilene: Antilley Road Branch – September 2012

Grapevine: Branch of Southlake – March 2012

Cisco: Branch of Eastland – September 2011

Lamesa: Office of Trust Company – April 2011

Odessa: Branch of Abilene – February 2010

Fort Worth: Branch of Weatherford – February 2010

Odessa: Office of Trust Company – April 2009

Merkel: Branch of Sweetwater – July 2008

Brock: Branch of Weatherford – March 2008

Acton: Branch of Stephenville – March 2008

Albany: Branch of Abilene – May 2007

Fort Worth: Office of Trust Company – April 2007 (Building New Building – Opening 2nd Qtr. 2015)

14

Fort Worth – Forest Park Blvd. and Rosedale

15

Fort Worth – Forest Park Blvd. and Rosedale

16

Years with Company Years in Industry

Scott DueserChairman of the Board, President &

Chief Executive Officer

38 43

J. Bruce Hildebrand, CPAExecutive Vice President

Chief Financial Officer

12 36

Gary L. WebbExecutive Vice President

Operations

12 26

Gary S. GraggExecutive Vice President

Credit Administration

24 36

Marna YeriganExecutive Vice President

Credit Administration

4 30

Ron ButlerExecutive Vice President

Chief Administrative Officer

22 33

Stan LimerickExecutive Vice President

Chief Information Officer

- 35

Senior Management at First Financial

17

Years with Company Years in Industry

Michele Stevens

Senior Vice President

Advertising and Marketing

16 32

Monica Houston

Senior Vice President

Training

20 20

Larry Kentz

Senior Vice President & Compliance Officer

Compliance

1 35

Luke Longhofer

Senior Vice President & Loan Review Officer

Credit Administration

3 10

Brandon Harris

Senior Vice President

Appraisal Services

2 15

Kirk Thaxton, CTFA

President, First Financial Trust & Asset

Management

28 31

Senior Management at First Financial

18

Experienced Regional CEOs & PresidentsYears with Company Years in Industry

Marelyn Shedd, Abilene 23 31

Mike Mauldin, Hereford 12 37

Kirby Andrews, Sweetwater 24 27

Trent Swearengin, Eastland 15 17

Mike Boyd, San Angelo 39 42

Tom O’Neil, Cleburne 16 34

Ron Mullins, Stephenville 8 36

Jay Gibbs, Weatherford 13 40

Mark Jones, Southlake 14 37

Ken Williamson, Mineral Wells 13 43

Robert Pate, Huntsville 17 33

Fred Wren, Huntsville 2 35

Stephen Lee, Southeast Region 7 25

19

20

$3,279

$3,776

$4,121

$4,502

$5,222

$5,848

2009 2010 2011 2012 2013 2014

Growth in Total Assets

Asset Performance

(in millions)

21

$836 $959 $1,102 $1,312 $1,362$1,570

$1,849$2,154

$2,233$2,321

$2,773$3,180

2009 2010 2011 2012 2013 2014

Non Interest Bearing Interest Bearing

Deposit Growth

Growth in FFIN Total Deposits (in millions)

$4,750

$2,685

$3,113$3,335

$3,633

$4,135

22

Deposit Products

Time13.7% Demand

33.1%

Money Market42.3%

Savings10.9%

Account Growth

Net Growth in 2011 – 4,036 Accounts

Net Growth in 2012 – 1,219 Accounts

Net Growth in 2013 – 3,308 Accounts*

Net Growth in 2014 – 10,687 Accounts

December 31,

2011

December 31,

2012

December 31,

2013*

December 31,

2014

Total Number of

Accounts

204,063 205,282 208,590 234,614

23

*(Excluding Orange Acquisition)

$73 $81 $66 $68 $76 $106$175 $191 $218 $273 $334 $361 $406 $429 $427

$510 $590

$640

$860 $990 $1,076

$1,238

$1,689 $1,831

Real Estate

Commercial

Consumer

Agricultural

Loan Performance

Growth in FFIN Total Loans (in millions)

$1,514$1,690

$1,787

$2,089

$2,938

24

$2,689

25

Overview of Loan Portfolio

Commercial 21.8%

Agriculture3.6%

Consumer12.3%

Real Estate62.3%

Note: Oil & Gas Exposure 3.0%

Residential Development & Construction

6.8%

1-4 Family 46.6%

Commercial Development and

Construction3.6%

Commercial R/E 28.6%

Other R/E 14.4%

26

Breakdown of R/E Loan Portfolio

27

2009 2010 2011 2012 2013 2014

End ofPeriod 56.4 54.3 53.6 57.5 65.0 61.8

Average

Balances59.5 56.0 54.6 56.4 64.3 64.1

Loan to Deposit Ratio

28

Less than

1 year

1 to 3

years

3 to 5

years

5 to 10

years

10 to 15

years

Over 15

years

37.6% 4.4% 4.7% 14.2% 18.1% 12.3% 8.7%

Variable and Fixed Rate Loans

Loan Portfolio Interest Rate Risk Analysis

Variable

RateFixed Rate

2009 2010 2011 2012 2013 2014

FirstFinancial 1.46% 1.53% 1.64% 1.22% 1.16% 0.74%

Peer Group 5.41% 5.37% 4.59% 3.67% 2.71% 2.19%*

Sound Lending Practices

Nonperforming assets as a percentage of loans + foreclosed assets (FFIN vs. Peers)

29

*As of Sept. 30, 2014

30

$27,612

$31,106

$34,315 $34,839 $33,900

$36,824

$11,419$8,962

$6,626

$3,484 $3,753 $4,465

2009 2010 2011 2012 2013 2014

ALLL Provision

Allowance for Loan Losses and Provision for Loan Losses

(in thousands)

Summary of Bond Portfolio

Agencies 5.63%

Corporates 3.88%

Muni 47.50%

MBSs 19.73%

CMOs 23.24%

Treasuries 0.02%

31

Municipal Allocation by State

State Percentage

Texas 72.72%

Wisconsin 2.37%

Ohio 2.29%

Michigan 2.24%

Washington 1.99%

Florida 1.67%

New York 1.50%

Illinois 1.31%

Colorado 1.24%

Louisiana 1.05%

Massachusetts 1.02%

Other 39 States 10.60%

32

33

$1,664$1,783

$1,912

$2,233

$2,465

$2,774

2009 2010 2011 2012 2013 2014

Growth in Trust Assets

Total Trust Assets – Book Value (in millions)

34

$9,083

$10,808

$12,671

$14,464

$16,317

$18,766

2009 2010 2011 2012 2013 2014

Total Trust Fees

Growth in FFTAM Fees (in thousands)

Growth in FFTAM Net Income

$2,631

$3,254

$4,176

$5,183

$6,142

$7,109

2009 2010 2011 2012 2013 2014

Total Trust Net Income

(in thousands)

35

$53.8$59.7

$68.4$74.2

$78.9

$89.6

2009 2010 2011 2012 2013 2014

28th Consecutive Year of Increased Earnings

FFIN Earnings (in millions)

36

37

$0.86$0.95

$1.09

$1.18$1.24

$1.40

2009 2010 2011 2012 2013 2014

Strong Shareholder Earnings

Basic Earnings Per Share

*Per share amounts reflect the 2 for 1 stock split that was effective June 2, 2014.

1.75% 1.78% 1.75%1.64% 1.65%

0.24%

0.80%

0.98% 1.04%0.94%*

2010 2011 2012 2013 2014

FFIN Outperforms Peers

Percentage Return on Average Assets

Pe

er

Gro

up

Fir

st

Fin

an

cia

l

38

*As of Sept. 30, 2014

13.74%14.44%

13.85% 13.75%14.00%

0.88%

7.27%

8.56%8.89%

8.15%*

2010 2011 2012 2013 2014

Strong Return on Capital

Percentage Return on Average Equity

Pe

er

Gro

up

Fir

st

Fin

an

cia

l

39

*As of Sept. 30, 2014

40

2010 2011 2012 2013 2014

Shareholders’Equity 441,688 508,537 556,963 587,647 681,537

As a Percent of Total

Assets11.70 12.34 12.37 11.25 11.65

Tangible

Capital369,164 436,415 484,990 490,163 584,178

Tier 1

Leverage Ratio10.28 10.33 10.60 9.84 9.89

Tier 1 Risk

Based Capital Ratio17.01 17.49 17.43 15.82 16.05

Risk Based

Capital Ratio18.26 18.74 18.68 16.97 17.16

Capital & Capital Ratios

(dollars in thousands)

3.00%

3.25%

3.50%

3.75%

4.00%

4.25%

4.50%

4.75%

5.00%

3rdQtr. '11

4thQtr. '11

1stQtr. '12

2ndQtr. '12

3rdQtr. '12

4thQtr. '12

1stQtr. '13

2ndQtr. '13

3rdQtr. '13

4thQtr. '13

1stQtr. '14

2ndQtr. '14

3rdQtr. '14

4thQtr. '14

First Financial Peer Group

Net Interest Margin

Quarterly Interest Margin

41

2009 2010 2011 2012 2013 2014

FirstFinancial 50.11% 49.49% 48.37% 48.14% 50.20% 49.24%

Peer Group 69.53% 67.33% 65.57% 65.77% 67.79% 66.67%*

Working Harder and Smarter

Efficiency Ratio (FFIN vs. Peers)

42

*As of Sept. 30, 2014

Stock cost in January 2014 $33,060

Dividend declared ($0.55 x 1,000 shares) $ 550

Decrease in stock price during 2014

($33.06 to$29.88 X 1,000 shares)$2210,720

2014 return on investment -7.96%

2013 return on investment 72.11%

2012 return on investment 19.65%

2011 return on investment 0.61%

2010 return on investment -2.99%

5 year compound average return 12.36%

Total Return on Investment

($2,630)

Assume you owned 1,000 shares of FFIN stock on January 1, 2014…

43

*Adjusted for 2 for 1 stock split effective June 2, 2014.

Dividends Per Share

$0.46 $0.48$0.50 $0.52

$0.55

2010 2011 2012 2013 2014

Annual Dividends Declared Per Share*

44

*Per share amounts reflect the 2 for 1 stock split that was effective June 2, 2014.

Strong Stock Performance

-100.00%

-50.00%

0.00%

50.00%

100.00%

150.00%

FFIN S&P 500 NASDAQ Dow JonesJan . ‘07 Dec. ’14Dec . ‘09Dec ‘07 Dec ‘08 Dec. ‘10 Dec. ’11 Dec. ’12

45

Challenges

Regulatory reform from Washington

Stagnant national economy / Oil & gas price decline

Low interest rate environment

Maintaining net interest margin

46

Opportunities

Loan Growth

Mortgage Lending

Trust Services

Treasury Management

Mobile Banking

Lower Efficiency Ratio

Potential Acquisitions

47

www.ffin.com