SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported): Commission File Number
July 27, 1998 0-7674
FIRST FINANCIAL BANKSHARES, INC.
(Exact Name of Registrant as Specified in its Charter)
Texas 75-0944023
(State of Incorporation) (I.R.S. Employer
Identification No.)
400 Pine Street, Abilene, Texas 79601
(Address of Executive Offices and Zip Code)
Registrant's Telephone Number (915) 627-7155
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ITEM 5. Other Events.
On July 27, 1998, First Financial Bankshares, Inc. (the "Company")
executed a Letter of Intent with Cleburne State Bank ("CSB") to acquire all of
the issued and outstanding shares of the common stock of CSB. The proposed
acquisition is subject to negotiation, preparation and approval of a definitive
written Stock Exchange Agreement between the Company and CSB. Acquisition of CSB
by the Company is additionally subject to the approval by the Board of Governors
of the Federal Reserve System and other federal and state regulatory
authorities. Following execution of a definitive Stock Exchange Agreement and
approval by appropriate regulatory authorities, it is anticipated that the
Company would, pursuant to a Prospectus and upon or following the effective date
of a Registration Statement to be filed with the Securities and Exchange
Commission, offer to exchange 1.75 shares of its common stock for each
outstanding share of CSB common stock. Completion of the anticipated transaction
could reasonably be expected prior to year end, and thereafter it is anticipated
that CSB would merge into the Company's affiliate, First National Bank in
Cleburne.
CSB is a state chartered banking association chartered in 1980. CSB has
total assets of $83,000,000 and deposits of $76,000,000, and operates two full
service locations, one in Cleburne, Texas and a branch in nearby Alvarado,
Texas. The Company's affiliated bank in Cleburne, Texas, First National Bank in
Cleburne, has total assets of $100,000,000 and operates locations in Cleburne,
Texas and Burleson, Texas.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this Report to be signed on its behalf by the
undersigned hereunto duly authorized.
FIRST FINANCIAL BANKSHARES, INC.
(Registrant)
DATE: August 3, 1998 By: /S/ CURTIS R. HARVEY
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CURTIS R. HARVEY
Executive Vice President and
Chief Financial Officer
