First Financial Bankshares in Abilene, Texas, has switched from a national bank charter to a state bank charter.
The company said in a press release that First Financial Bank is new a state banking association while First Financial Trust and Asset Management became a state-chartered chartered trust company.
The bank had operated under a national charter since its creation in 1890.
“We think the charter conversions make the most sense for the company and its shareholders moving forward,” F. Scott Dueser, the company’s chairman, president and CEO, said in the release.
“We are excited to be true Texas entities,” he added. “We expect the conversions will lead to better communication with our regulators.”
The bank remains a member bank of the Federal Reserve System and has FDIC deposit insurance.