First Financial Bankshares Inc. in Abilene, Tex., has changed the name of another one of its 10 subsidiaries.
The $140 million-asset City National Bank of Mineral Wells has been renamed First Financial Bank, the company announced Thursday. The subsidiary is the sixth to be given that name — and the fifth since 2005.
Scott Dueser, the holding company's president and chief executive, said in an interview that it expects to change the names of other subsidiaries within the next two years to trim marketing costs and build the First Financial brand.
"We are moving systematically to utilize the First Financial name and build that franchise," Mr. Dueser said.
The time was right for the Mineral Wells bank to be renamed, because it was recently remodeled and added some new services, he said.
Though several of the units now have similar names, the $2.9 billion-asset First Financial is not planning to consolidate their charters.
In 2005 its banks in Eastland, Stephenville, Southlake, and Abilene were renamed First Financial Bank. Its bank in Cleburne was given that name in 2000.
Mr. Dueser said that several of the banks are in the same markets, and that giving them a common name reduces advertising costs. Customers can use any of the company's banks, he said.
