3rd Quarter 2011

Forward Looking Statement

The numbers, as of and for the nine months ended September 30, 2011, 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.

3

Who We Are

$3.9 billion financial holding company headquartered in Abilene, Texas

Group of 11 separately chartered banks

121 year history

Growth markets include 50 mile radius of

the larger cities of Texas

4

Recognitions

KBW Honor Roll – One of Forty banks named – March 2011

SNL Financial top publicly traded community bank and sixth overall – March 2011

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

5

6

What Makes Us Different

One Bank, Eleven Charters Concept

One Bank Consolidation of backroom operations (lower efficiency ratio) Agency agreements (customers may use any of our 52 locations)

Eleven Community Bank Charters Bank Presidents run their banks Local Boards – Movers and Shakers of the Community

Keep our banks locally focused Make sure we meet the needs of the community Help us make better loan decisions Help us market the bank

Up to $2.75 million of FDIC insurance available

7

Huntsville Acquisition

Acquired November 2010

Huntsville, Texas 37,000 Residents Sam Houston State University – 17,000 Students

Fastest Growing University in Texas Headquarters of the Texas Department of Criminal Justice – 5,000 employees Strategically located on Interstate 45 – 70 miles north of Houston

$176 million in Assets* $151 million in deposits $85 million in loans

Approximately 1.63x book; 10.8x last twelve months earnings (tax effected) Huntsville acquisition is very similar to our model around Dallas/Fort Worth

and provides diversification #2 Market Share in Walker County – 21%

*As of Sept. 30, 2011

8

FFIN’s Unique Positioning in Texas

Bank Key Markets

BBVA Compass Rio Grande, Gulf Coast, Houston, Dallas, El Paso, Lubbock

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

Encore Bancshares Houston, Florida

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

International Bancshares Corp. Rio Grande, Houston, San Antonio, Oklahoma

Prosperity Houston, DFW, Austin

Southside East Texas

Texas Capital DFW, Austin, San Antonio and Houston

ViewPoint Financial Dallas

Zion DFW and Houston

98

10

Texas: Large and Growing

Five most populous states:* Growth (2000 – 2010)

California 37.3 million 10.0%

Texas 25.2 million 20.6%

New York 19.4 million 2.1%

Florida 18.8 million 17.6%

Illinois 12.8 million 3.3%

* U.S. Census Bureau

11

Target Markets – Population Growth

Population growth (2000-2010) in FFIN expansion markets:*

Texas 20.6%

Bridgeport & Wise County 21.2%

Fort Worth / Tarrant County 25.1%

Cleburne, Midlothian & Johnson County 19.0%

Weatherford, Willow Park, Aledo 32.1%

Granbury & Hood County 24.5%

Stephenville & Erath County 14.8%

* U.S. Census Bureau

12

Texas Benefits

CEO Magazine ranks Texas best state for

business – for seventh consecutive year

Texas created more jobs (230,800) in 2010 more

than any other state

Texas created more private sector jobs than any

other state during the past decade

13

Preferred Acquisition: Granbury and Glen Rose

12

14

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)

$1,302 M 14 41% 1

First Financial Bank(Hereford)

$155 M 1 42% 1

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

$171 M 4 55% 1

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

$172 M 4 37% 1

First Financial Bank(San Angelo)

$407 M 2 20% 2

TOTALS $2,207M 25* Data as of 06-30-11

** Data as of 06-30-10

15

Expansion MarketsBANK ASSET SIZE* LOCATIONS

DEPOSIT MARKET

SHARE**

MARKET SHARE

RANK**

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

$292 M 6 21% 1

First Financial Bank (Southlake, Trophy Club, Keller,

Bridgeport, Decatur, Boyd)

$326 M 3

3

8%

16%

5

3

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

$350 M 6 21% 2

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

$381 M 7 24% 1

First Financial Bank(Mineral Wells)

$203 M 1 35% 1

First Financial Bank(Huntsville)

$176 M 1 21% 2

TOTALS $1,728M 27 * Data as of 09-30-11** Data as of 06-30-11

16

Recent De Novo Growth

Grapevine: Branch of Southlake – Expected to Open 1st Quarter 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

Years with Company Years in Industry

Scott Dueser Chairman of the Board, President & Chief Executive Officer

35 40

J. Bruce Hildebrand, CPA Executive Vice President Chief Financial Officer

9 33

Gary L. Webb Executive Vice President Operations

9 23

Gary S. Gragg Executive Vice President Credit Administration

20 32

Marna Yerigan Executive Vice President Credit Administration

1 25

Michele Stevens Senior Vice President Advertising and Marketing

15 31

Courtney Jordan Senior Vice President Training & Education

3 18

Kirk Thaxton, CTFA President, First Financial Trust & Asset Management

24 27

Senior Management at First Financial

17

Experienced Bank CEOs & PresidentsYears with Company Years in Industry

Ron Butler, FFB Abilene 18 29

Mike Mauldin, FFB Hereford 8 33

J.V. Martin, FFB Sweetwater 22 41

Kirby Andrews, FFB Sweetwater 20 23

Tom O’Neil, FFB Eastland 12 31

Mike Boyd, FFB San Angelo 35 38

Matt Reynolds, FFB Cleburne 6 29

Ron Mullins, FFB Stephenville 5 32

Doyle Lee, FFB Weatherford 15 39

Jay Gibbs, FFB Weatherford 9 37

Mark Jones, FFB Southlake 10 33

Ken Williamson, FFB Mineral Wells 9 39

Robert Pate, FFB Huntsville 14 30

Gaye Clements, FFB Huntsville 9 27

Gary Tucker, First Technology Services 20 36

18

19

2006 2007 2008 2009 2010 2011

$2,850$3,070

$3,212 $3,279

$3,776$3,935Chart Title

Growth in Total Assets

Asset Performance

(in millions)

20

2006 2007 2008 2009 2010 2011

$685 $739 $797 $836 $959 $1,021

$1,699$1,807 $1,786 $1,849

$2,154 $2,166

Non Interest Bearing Interest Bearing

Deposit Growth

Growth in FFIN Total Deposits (in millions)

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

$3,113 $3,187

21

Deposit Products

Time24.1%

Deman

d32.0%

Money

Market36.7%

Sav-ings7.2%

2005 2006 2007 2008 2009 2010 2011

$85 $73 $84 $77 $73 $81 $61

$160 $165 $182 $191 $175 $191 $212 $37 $31 $32 $52 $0

$330 $344 $394 $391

$406 $429 $407

$677 $760 $836 $855

$860 $990 $1,049

Real Estate

Commercial

Student

Consumer

Agricultural

Loan Performance

Growth in FFIN Total Loans (in millions)

$1,373

$1,566 $1,514

$1,690 $1,729

$1,528

$1,289

22

23

Overview of Loan Portfolio

Commercial 23.5%

Agricul-ture3.5%

Consumer12.3%

Real Es-tate

60.7%

Residential Development & Construction 5.8%

1-4 Family 38.0%

Commercial Devel-opment and Construc-

tion3.9%Commercial R/E 30.8%

Other R/E 21.5%

Chart Title

24

Breakdown of R/E Loan Portfolio

25

2005 2006 2007 2008 2009 2010 2011

End of Period 54.5 57.6 60.0 60.6 56.4 54.3 54.3

Average

Balances57.6 56.6 59.8 61.1 59.5 56.0 54.8

Loan to Deposit Ratio

26

Less than

1 year

1 to 3

years

3 to 5

years

5 to 10

years

10 to 15

years

Over 15

years

35.1% 10.9% 15.6% 19.0% 8.5% 7.8% 3.1%

Variable and Fixed Rate Loans

Loan Portfolio Interest Rate Risk Analysis

Variable

RateFixed Rate

2006 2007 2008 2009 2010 2011

FirstFinancial 0.30% 0.31% 0.80% 1.46% 1.53% 1.60%

Peer Group 0.60% 0.98% 2.63% 5.41% 5.49% 5.04%*

Sound Lending Practices

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

27

*As of June 30, 2011

28

2005 2006 2007 2008 2009 2010 2011

$14,719$16,201

$17,462

$21,529

$27,612

$31,106

$34,301

$1,320 $2,061 $2,331

$7,957

$11,419$8,962

$5,405*

ALLL Provision

Allowance for Loan Losses and Provision for Loan Losses

(in thousands)

*Through 9 – months ended Sept. 30, 2011

Summary of Bond Portfolio

Agencies 15.01% Corpo-rates

5.85%

Muni 36.61%

MBSs 13.83%

CMOs 27.76%

Treasuries 0.94%

29

Municipal Allocation by StateState Percentage

Texas 57.78%

Michigan 5.66%

Wisconsin 4.44%

Illinois 2.48%

Washington 2.47%

New Jersey 2.38%

Massachusetts 2.35%

Florida 2.19%

Kentucky 1.95%

California 1.87%

Louisiana 1.70%

Utah 1.50%

Minnesota 1.50%

Other 37 states 11.73%

30

31

2006 2007 2008 2009 2010 2011

$1,300$1,428

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

$1,909Chart Title

Growth in Trust Assets

Total Trust Assets – Book Value (in millions)

32

2006 2007 2008 2009 2010 2011

$7,665$8,746

$9,441 $9,083

$10,808

$9,520

$5,572 $6,531

$7,230 $6,570

$7,904

thru Sept 30th

Total Trust Fees

Growth in FFTAM Fees (Full year and 1st 9 months) (in thousands)

2006 2007 2008 2009 2010 2011

$46.0$49.5

$53.1 $53.8

$59.7

$34.3$37.0

$40.1 $41.3$44.1

$50.9

$1.3

24th Consecutive Year of Increased Earnings

FFIN Earnings (Full year and 1st 9 months) (in millions)

33

34

2006 2007 2008 2009 2010 2011

$1.48$1.59

$1.71 $1.72

$1.91

$1.10 $1.18

$1.29 $1.32 $1.41

$1.62

$0.04

Strong Shareholder Earnings

Basic Earnings Per Share (Full year and 1st 9 months)

$0.04

2005 2006 2007 2008 2009 2010 2011

1.80%1.68%

1.72% 1.74% 1.72% 1.75% 1.79%

1.15% 1.10%

0.87%

-0.03%

-0.18%

0.26%

0.72%*

FFIN Outperforms Peers

Percentage Return on Average Assets

Pe

er

Gro

up

Fir

st

Fin

an

cia

l

35

*(thru June 30th)

2005 2006 2007 2008 2009 2010 2011

16.15% 16.20% 15.87% 15.27%

13.63% 13.74%14.65%

13.33%12.61%

9.45%

-1.83% -2.57%

1.18%

6.56%*

Strong Return on Capital

Percentage Return on Average EquityP

ee

r G

rou

p

Fir

st

Fin

an

cia

l

36

*(thru June 30th)

37

2007 2008 2009 2010 2011

Shareholders’Equity 335,495 368,782 415,702 441,688 499,199

As a Percent of Total

Assets10.93 11.48 12.68 11.70 12.68

Tangible

Capital270,288 304,779 352,550 369,164 426,993

Tier 1

Leverage Ratio9.23 9.68 10.69 10.28 10.45

Tier 1 Risk

Based Capital Ratio14.65 15.89 17.73 17.01 17.89

Risk Based

Capital Ratio15.62 17.04 19.10 18.26 19.14

Capital & Capital Ratios

(dollars in thousands)

'2nd Qtr. '08

3rd Qtr. '08

4th Qtr. '08

1st Qtr. '09

2nd Qtr. '09

3rd Qtr. '09

4th Qtr. '09

1st Qtr. '10

2nd Qtr. '10

3rd Qtr. '10

4th Qtr. '10

1st Qtr. '11

2nd Qtr. '11

3rd Qtr. '11

3.00%

3.25%

3.50%

3.75%

4.00%

4.25%

4.50%

4.75%

5.00%

First Financial Peer Group

Net Interest Margin

Quarterly Interest Margin

38

2005 2006 2007 2008 2009 2010 2011

FirstFinancial 52.48% 53.57% 52.83% 50.76% 50.11% 49.49% 48.86%

Peer Group 60.12% 61.29% 63.12% 68.12% 69.53% 67.08% 66.81%*

Working Harder and Smarter

Efficiency Ratio (FFIN vs. Peers)

39

*As of June 30, 2011

Stock cost in January 2010 $36,150

Dividend received ($0.91 x 1,000 shares) $ 910

Decrease in stock price during 2010($36.15 to $34.17 X 1,000 shares) $2210,720

2010 return on investment -2.99%

2009 return on investment 0.69%

2008 return on investment 50.20%

2007 return on investment -7.05%

2006 return on investment 22.76%

5 year average return 10.50%

Total Return on Investment

($1,980)

Assume you owned 1,000 shares of FFIN stock on January 1, 2010…

40

Dividends Per Share

2005 2006 2007 2008 2009 2010 2011

$0.73$0.79

$0.84$0.89 $0.91 $0.91

$0.71

Chart Title

Annual Dividends Per Share

thru Sept. 30th

41

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 Sept. ’11Dec . ‘09Dec ‘07 Dec ‘08 Dec. ‘10

42

Challenges

Regulatory reform from Washington

Keep nonperforming assets to a minimum

Maintain net interest margin

Lower efficiency ratio

43

Opportunities

Loan Growth

Mortgage Lending

Trust Services

Treasury Management

Potential Acquisitions

44

www.ffin.com