irst Financial Bankshares' wholly-owned subsidiary, First Financial Bank has completed an asset purchase with 4Trust Mortgage for a purchase price of $1.9m in cash.
4Trust is a residential mortgage loan origination company that has been serving customers in the Dallas/Ft. Worth area for 15 years. They currently have three offices located in Fort Worth, Dallas and North Richland Hills, Texas. In 2014, 4Trust originated approximately $175 million in residential mortgage loans that were subsequently sold in the secondary market.
"We are so happy to now have the 4Trust team on board," said F. Scott Dueser, Chairman, President and CEO of First Financial Bankshares and First Financial Bank, N.A.
"Having built one of the top mortgage companies in Dallas/Fort Worth, the 4Trust team brings to First Financial a tremendous amount of experience and expertise along with a very loyal customer base. With the leadership of Troy Fore, who will now oversee all of the First Financial’s mortgage lending operations, we believe our mortgage division will make an even more significant contribution to the bottom line."
"We are very excited about being part of the First Financial family," said Troy Fore, Former President and CEO of 4Trust. "Joining with First Financial will expand the products and services, including interim construction loans and a number of other in-house mortgage lending products.
"But most importantly, we share the same commitment to providing our customers with excellent service while assisting them in making well-informed home buying decisions."