Headquartered in Abilene, Texas, First Financial Bankshares (FFIN) just crossed the ever important $10 billion threshold. The company operates multiple banking regions with its 78 locations and 9 trust company offices. The FFIN footprint stretches from Hereford, Texas, throughout the Panhandle to Orange, located in southeast Texas.
Bank investors need to beware of the Durbin amendment and what happens once a bank crosses that dreaded $10 billion line. The Durbin amendment is part of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which limits a few key noninterest income segments.
More specifically, interchange fees collected by the bank from debit transactions take the biggest hit. Since FFIN just crossed the $10 billion threshold in the second quarter, starting next year, management will need to start complying with yearly examinations from the Consumer Financial Protection Bureau. When its all said and done, FFIN will likely need to find