2012 Annual Shareholder Meeting

Years with Company Years in Industry

Scott DueserChairman of the Board, President & Chief Executive Officer

36 41

J. Bruce Hildebrand, CPAExecutive Vice PresidentChief Financial Officer

9 33

Gary L. WebbExecutive Vice PresidentOperations

9 23

Gary S. GraggExecutive Vice PresidentCredit Administration

21 33

Marna YeriganExecutive Vice PresidentCredit Administration

1 28

Michele StevensSenior Vice PresidentAdvertising and Marketing

15 31

Courtney JordanSenior Vice PresidentTraining & Education

3 18

Kirk Thaxton, CTFAPresident, First Financial Trust & Asset Management

25 29

Senior Management at First Financial

Experienced Bank CEOs & PresidentsYears with Company Years in Industry

Ron Butler, FFB Abilene 19 30

Mike Mauldin, FFB Hereford 9 34

Kirby Andrews, FFB Sweetwater 21 24

Trent Swearengin, FFB Eastland 13 13

Mike Boyd, FFB San Angelo 36 40

Tom O’Neil, FFB Cleburne 13 32

Matt Reynolds, FFB Cleburne 7 30

Ron Mullins, FFB Stephenville 6 33

Doyle Lee, FFB Weatherford 16 39

Jay Gibbs, FFB Weatherford 10 37

Mark Jones, FFB Southlake 11 34

Ken Williamson, FFB Mineral Wells 10 40

Robert Pate, FFB Huntsville 14 31

Gary Tucker, First Technology Services 21 37

3

Doyle Lee – Retiring CEO of Weatherford

Board of DirectorsYears as Board

MemberCommittee

Appointment

Steven L. BealDirector and Former President and COO of

Concho Resources Inc.2 Audit / Compensation

Tucker S. BridwellPresident, Mansefeldt Investment Corporation 5

Lead Director / Executive

Audit / Nominating/

Corporate Governance

Joseph E. CanonExecutive Director, Dodge Jones Foundation 16 Compensation

David CopelandPresident, SIPCO, Inc. andShelton Family Foundation

14Executive

Audit

Nominating/Corporate Governance

F. Scott DueserChairman of the Board, President and CEO 21 Executive

Murray EdwardsPrincipal, The Edwards Group 6

Executive / Audit / Nominating/

Corporate Governance

Board of DirectorsYears as Board

MemberCommittee

Appointment

Ron GiddiensG&G Investments

3 Audit

Kade L. MatthewsRanching and Investments 14 Compensation

Johnny E. TrotterPresident and CEO Livestock Investors, Ltd. 9

Executive

Compensation

Nominating/Corporate Governance

Independent Public Auditors

Mrs. Dian Graves Stai – 19 Years of Dedicated Service

Forward Looking Statement

The numbers, as of and for the three months ended March 31, 2012, contained within this presentationare 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 uponthe belief of the Company’s management, as well as assumptions made beyond information currentlyavailable to the Company’s management and, may be, but not necessarily are identified by such wordsas “expect”, “plan”, “anticipate”, “target”, “forecast” and “goal”. Because such “forward-lookingstatements” are subject to risks and uncertainties, actual results may differ materially from thoseexpressed or implied by such forward-looking statements. Factors that could cause actual results todiffer materially from the Company’s expectations include competition from other financial institutionsand financial holding companies; the effects of and changes in trade, monetary and fiscal policies andlaws, 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 monetaryfluctuations; changes in consumer spending, borrowing and savings habits; and acquisitions andintegration of acquired businesses, and similar variables. Other key risks are described in theCompany’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 Companyat 325.627.7155. The Company does not undertake any obligation to update publicly or revise anyforward-looking statements herein because of new information, future events or otherwise.

2011 Financial Review

Earnings

$46.0$49.5

$53.1 $53.8$59.7

$68.4

2006 2007 2008 2009 2010 2011

$1.3

25th Consecutive Year of Increased Earnings

FFIN Earnings (in millions)

$1.48$1.59

$1.71 $1.72$1.91

$2.17

2006 2007 2008 2009 2010 2011

Strong Shareholder Earnings

Basic Earnings Per Share

$0.04

2005 2006 2007 2008 2009 2010 2011

FirstFinancial 52.48% 53.57% 52.83% 50.76% 50.11% 49.49% 48.37%

Peer Group 60.12% 61.29% 63.12% 68.12% 69.53% 67.32% 65.86%

Working Harder and Smarter

Efficiency Ratio (FFIN vs. Peers)

3.00%

3.25%

3.50%

3.75%

4.00%

4.25%

4.50%

4.75%

5.00%

3rdQtr. '08

4thQtr. '08

1stQtr. '09

2ndQtr. '09

3rdQtr. '09

4thQtr. '09

1stQtr. '10

2ndQtr. '10

3rdQtr. '10

4thQtr. '10

1stQtr. '11

2ndQtr. '11

3rdQtr. '11

4thQtr. '11

First Financial Peer Group

Net Interest Margin

Quarterly Interest Margin

1.80%1.68% 1.72% 1.74% 1.72% 1.75% 1.78%

1.15% 1.10%

0.87%

-0.03% -0.18%

0.25%

0.80%

2005 2006 2007 2008 2009 2010 2011

FFIN Outperforms Peers

Percentage Return on Average AssetsPe

er G

roup

Firs

t Fin

anci

al

16.15% 16.20% 15.87%15.27%

13.63% 13.74% 14.44%13.33% 12.61%

9.45%

-1.83% -2.57%1.16%

7.26%

2005 2006 2007 2008 2009 2010 2011

Strong Return on Capital

Percentage Return on Average EquityPe

er G

roup

Firs

t Fin

anci

al

12-31-11 03-31-12To be considered well Capitalized

Tier 1

Leverage Ratio10.33 10.31 > 5.00

Tier 1 Risk

Based Capital Ratio17.49 17.73 > 6.00

Risk Based

Capital Ratio18.74 18.99 > 10.00

Capital Ratios

$2,850$3,070

$3,212 $3,279

$3,776

$4,121

2006 2007 2008 2009 2010 2011

Growth in Total Assets

Asset Performance

(in millions)

$85 $73 $84 $77 $73 $81 $66

$160 $165 $182 $191 $175 $191 $218 $37 $31 $32 $52 $0

$330 $344 $394 $391 $406 $429 $427

$677 $760 $836 $855 $860

$990 $1,076

2005 2006 2007 2008 2009 2010 2011

Real Estate

Commercial

Student

Consumer

Agricultural

Loan Performance

Growth in FFIN Total Loans (in millions)

$1,373

$1,566 $1,514

$1,690$1,787

$1,528

$1,289

2006 2007 2008 2009 2010 2011

FirstFinancial 0.30% 0.31% 0.80% 1.46% 1.53% 1.64%

Peer Group 0.60% 0.98% 2.63% 5.41% 5.38% 4.66%

Sound Lending Practices

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

$685 $739 $797 $836 $959 $1,102

$1,699 $1,807 $1,786 $1,849$2,154

$2,233

2006 2007 2008 2009 2010 2011Non Interest Bearing Interest Bearing

Deposit Growth

Growth in FFIN Total Deposits (in millions)

$2,384$2,546 $2,583 $2,685

$3,113$3,335

1st Quarter 2012 Summary

$11.5$13.2 $13.7 $13.7

$16.3$17.8

2007 2008 2009 2010 2011 2012

1st Quarter Earnings

(in millions)FFIN Earnings

Account Growth

Net Growth in 2011 – 4,036 Accounts

New Growth in 2012 – 2,483 Accounts

December 31, 2010 December 31, 2011 March 31, 2012

Total Number of Accounts 200,027 204,063 206,546

$0.37$0.42 $0.44 $0.44

$0.52$0.56

2007 2008 2009 2010 2011 2012

Shareholder Earnings – 1st Quarter

Basic Earnings Per Share

$1,300$1,428

$1,631 $1,664$1,784

$1,912

2006 2007 2008 2009 2010 2011

Growth in Trust Assets

Total Trust Assets – Book Value (in millions)

$7,665$8,746

$9,441 $9,083

$10,809

$12,671

2006 2007 2008 2009 2010 2011

Total Trust Fees

Growth in FFTAM Fees (in thousands)

$2,076

$2,549$2,810

$2,631

$3,254

$4,176

2006 2007 2008 2009 2010 2011

Growth in FFTAM Income

Net Trust Income

(in thousands)

35

Years with Company Years in Industry

Richard Young, Abilene 15 25

David Byrd, San Angelo 14 35

Konrad Halbert, Fort Worth 7 16

David Castleberry, Stephenville 7 10

Barbara Hill, Odessa 3 33

Wayne Chowning, Sweetwater 1 12

Trust Company Managers

Stock cost in January 2011 $34,170

Dividend received ($0.95 x 1,000 shares) $ 950

Decrease in stock price during 2011($34.17 to $33.43 X 1,000 shares) $2210,720

2011 return on investment 0.61%

2010 return on investment -2.99%

2009 return on investment 0.69%

2008 return on investment 50.20%

2007 return on investment -7.05%

5 year compound average return 6.32%

Total Return on Investment

($740)

Assume you owned 1,000 shares of FFIN stock on January 1, 2011…

Strong Stock Performance

-60.00%

-50.00%

-40.00%

-30.00%

-20.00%

-10.00%

0.00%

10.00%

20.00%

30.00%

40.00%

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

Recognitions

KBW Honor Roll – One of Forty banks named – March 2012

SNL Financial #4 Best Performing Community Bank ($500M -$5B) – March 2012

Nifty 50: Bank Director Magazine - #2 – Based on Return on Equity / Average Tangible Equity

Ranked #2 in Texas and #7 in the United States by J.D. Power and Associates 2011 Retail Banking Customer Satisfaction Study – April 2011

Bank Intelligence Proven Performers - #4 in the Nation in $1 - $10 billion category – June 2011

Customer Service First

Ritz-Carlton Culture

Everything Speaks

Looking Through The Lens Of The Customer

Star Awards

Shining Stars

WOWs

44

WOW!

WOW!

WOW!

WOW!

WOW’s

49

WOW’s

50

Recent De Novo Growth San Angelo: HEB Branch – Expected to Open 4th Qtr. 2012 Abilene: Southside Branch – Expected to Open 4th Qtr. 2012 Grapevine: Branch of Southlake – March 2012 Cisco: Branch of Eastland – September 2011 Lamesa: Office of Trust Company – April 2011 Crowley: Branch of Cleburne – October 2010 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

Picture of Cisco – Trent is send Pic

52

New Location - Grapevine

53

54

Cleburne Main

55

Cleburne Ridgeway

56

Trophy Club

57

Sweetwater

58

59

Sweetwater

60

61

Core Markets: West Central Texas Markets served benefiting from well-established,

long- time customers

BANKASSET

SIZE*LOCATIONS

DEPOSIT

MARKET SHARE**

MARKET SHARE RANK**

First Financial Bank(Abilene, Clyde, Moran, Albany, Odessa)

$1,443 M 14 41% 1

First Financial Bank(Hereford)

$166 M 1 42% 1

First Financial Bank(Eastland, Ranger, Rising Star, Cisco)

$206M 4 55% 1

First Financial Bank(Sweetwater, Roby, Trent, Merkel)

$184 M 4 37% 1

First Financial Bank(San Angelo)

$431M 2 20% 2

TOTALS $2,430M 25 * Data as of 03-31-12** Data as of 06-30-11

62

Expansion MarketsBANK ASSET SIZE* LOCATIONS

DEPOSIT MARKET SHARE**

MARKET SHARE RANK**

First Financial Bank(Cleburne, Burleson, Alvarado, Midlothian, Crowley)

$315 M 6 21% 1

First Financial Bank(Southlake, Trophy Club, Keller, Grapevine

Bridgeport, Decatur, Boyd)

$325 M 4

3

8%

16%

5

3

First Financial Bank(Stephenville, Granbury, Glen Rose, Acton)

$378 M 6 21% 2

First Financial Bank(Weatherford, Aledo, Willow Park, Brock, Ft. Worth)

$396 M 7 24% 1

First Financial Bank(Mineral Wells)

$217 M 1 35% 1

First Financial Bank(Huntsville)

$179 M 1 21% 2

TOTALS $1,810M 28 * Data as of 03-31-12** Data as of 06-30-11

63

Challenges

Regulatory reform from Washington

Keep nonperforming assets to a minimum

Maintain net interest margin

Lower efficiency ratio

3.00%

3.25%

3.50%

3.75%

4.00%

4.25%

4.50%

4.75%

5.00%

3rdQtr. '08

4thQtr. '08

1stQtr. '09

2ndQtr. '09

3rdQtr. '09

4thQtr. '09

1stQtr. '10

2ndQtr. '10

3rdQtr. '10

4thQtr. '10

1stQtr. '11

2ndQtr. '11

3rdQtr. '11

4thQtr. '11

First Financial Peer Group

Net Interest Margin

Quarterly Interest Margin

2005 2006 2007 2008 2009 2010 2011

FirstFinancial 52.48% 53.57% 52.83% 50.76% 50.11% 49.49% 48.37%

Peer Group 60.12% 61.29% 63.12% 68.12% 69.53% 67.32% 65.86%

Working Harder and Smarter

Efficiency Ratio (FFIN vs. Peers)

67

Opportunities

Loan Growth

Mortgage Lending

Trust Services

Treasury Management

Potential Acquisitions

Dividends Per Share

$0.73$0.79

$0.84$0.89 $0.91 $0.91

$0.95

2005 2006 2007 2008 2009 2010 2011

Annual Dividends Per Share

Increase Cash Dividend

Today $0.24 per share quarterly

Increase cash divided to $0.25 per quarter – 4.2% increase

Shareholders of record as of June 15, 2012

Dividend payable July 2, 2012

www.ffin.com