Pay Versus Performance

The following tables summarize compensation information for the principal executive officer and average compensation for the other named executive officers required by the SEC rules regarding Pay Versus Performance. The Company uses Annualized Net Income growth as its Company Selected Measure (CSM).


Year	SCT Total Compensation for CEO		Compensation Actually Paid to CEO		Average SCT Total Compensation for Other NEOs		Average Compensation Actually Paid to Other NEOs		Value of Initial Fixed $100 Investment Based on:				Net Income		Annualized Net Income Growth
									FFIN TSR		Peer Group TSR *

2024	$	3,552,000	$	4,629,376	$	1,235,095	$	1,422,678	$	102.71	$	105.88	$	223,511		12	%
2023	$	1,239,808	$	798,730	$	931,430	$	850,609	$	86.32	$	84.70	$	198,977		-15	%
2022	$	3,089,587	$	448,226	$	991,910	$	548,081	$	98.01	$	88.96	$	234,475		3	%
2021	$	3,442,141	$	5,876,530	$	981,457	$	1,448,906	$	144.84	$	116.73	$	227,562		13	%
2020	$	1,800,963	$	1,358,758	$	847,069	$	800,991	$	103.05	$	86.37	$	202,034		23	%

* Peer Group TSR is based on the KBW Nasdaq Bank Index

Mr. Dueser served as our principal executive officer for 2020-2024. The other NEOs reflected in the table were the following individuals for 2024: Mr. Butler, Ms. Hickox, Mr. Bailey, and Mr. Thaxton. For 2023, it reflects the following individuals: Mr. Butler, Ms. Hickox, Mr. Thaxton, and Mr. Longhofer. For 2022, it reflects the following individuals: Mr. Butler, Mr. James R. Gordon, Mr. Thaxton, Mr. Longhofer. For 2021 and 2020 it reflects the following individuals: Mr. Butler, Mr. James R. Gordon, Mr. Thaxton and Mr. Gary Gragg.

To calculate the Compensation Actually Paid (CAP), the following amounts were deducted from and added to Summary Compensation Table (SCT) total compensation:


Year	SCT Total Compensation for CEO		Deductions from SCT Total			Additions to SCT Total			CAP
			i			ii
2024	$	3,552,000	$	(1,340,131	)	$	2,417,506		$	4,629,376
2023	$	1,239,808	$	(45,583	)	$	(395,495	)	$	798,730
2022	$	3,089,587	$	(1,361,910	)	$	(1,279,451	)	$	448,226
2021	$	3,442,141	$	(1,672,598	)	$	4,106,987		$	5,876,530
2020	$	1,800,963	$	(302,123	)	$	(140,082	)	$	1,358,758


Year	SCT Total Compensation for other NEOs		Deductions from SCT Total			Additions to SCT Total			CAP
			i			ii
2024	$	1,235,095	$	(346,092	)	$	533,675		$	1,422,678
2023	$	931,430	$	(311,413	)	$	230,592		$	850,609
2022	$	991,910	$	(256,830	)	$	(186,999	)	$	548,081
2021	$	981,457	$	(231,433	)	$	698,882		$	1,448,906
2020	$	847,069	$	(170,745	)	$	124,667		$	800,991

(i) Represents grant date fair value of equity based awards granted for each year shown and change in pension value and non-qualified deferred compensation for each year.

(ii) Reflects the value of equity calculated in accordance with the SEC methodology for determining CAP and the change in value of non-qualified compensation plans for each year shown.

The equity component of CAP for the year ended December 31, 2024 is further detailed below.


CEO Equity Component of CAP for FY 2024:
Equity Type	Fair Value of Current Year Equity Awards at 12/31/2024		Change in Value of Prior Years' Awards Unvested at 12/31/2024		Change in Value of Prior Years' Awards That Vested in FY 2024		Equity Value Included in CAP
	(a)		(b)		(c)		(d) = (a) + (b) + (c)
ISOs	$	276,432	$	37,113	$	11,809	$	325,354
RSAs		—		—		—		—
RSUs		514,470		19,918		36,038		570,426
PSUs		514,470		59,765		13,151		587,386
Total	$	1,305,372	$	116,796	$	60,998	$	1,483,166


Average Non-CEO NEOs Equity Component of CAP for FY 2024:
Equity Type	Fair Value of Current Year Equity Awards at 12/31/2024		Change in Value of Prior Years' Awards Unvested at 12/31/2024		Change in Value of Prior Years' Awards That Vested in FY 2024		Equity Value Included in CAP
	(a)		(b)		(c)		(d) = (a) + (b) + (c)
ISOs	$	115,086	$	38,591	$	14,123	$	167,800
RSAs		—		—		—		—
RSUs		107,059		14,077		7,578		128,714
PSUs		107,059		23,748		1,105		131,912
Total	$	329,204	$	76,416	$	22,806	$	428,426

Named Executive Officers, Footnote

Mr. Dueser served as our principal executive officer for 2020-2024. The other NEOs reflected in the table were the following individuals for 2024: Mr. Butler, Ms. Hickox, Mr. Bailey, and Mr. Thaxton. For 2023, it reflects the following individuals: Mr. Butler, Ms. Hickox, Mr. Thaxton, and Mr. Longhofer. For 2022, it reflects the following individuals: Mr. Butler, Mr. James R. Gordon, Mr. Thaxton, Mr. Longhofer. For 2021 and 2020 it reflects the following individuals: Mr. Butler, Mr. James R. Gordon, Mr. Thaxton and Mr. Gary Gragg.

PEO Actually Paid Compensation Amount

$ 4,629,376

798,730

448,226

5,876,530

1,358,758

Non-PEO NEO Average Total Compensation Amount

$ 1,235,095

931,430

991,910

981,457

847,069

Adjustment to Non-PEO NEO Compensation Footnote

To calculate the Compensation Actually Paid (CAP), the following amounts were deducted from and added to Summary Compensation Table (SCT) total compensation:


Year	SCT Total Compensation for other NEOs		Deductions from SCT Total			Additions to SCT Total			CAP
			i			ii
2024	$	1,235,095	$	(346,092	)	$	533,675		$	1,422,678
2023	$	931,430	$	(311,413	)	$	230,592		$	850,609
2022	$	991,910	$	(256,830	)	$	(186,999	)	$	548,081
2021	$	981,457	$	(231,433	)	$	698,882		$	1,448,906
2020	$	847,069	$	(170,745	)	$	124,667		$	800,991

The equity component of CAP for the year ended December 31, 2024 is further detailed below.


Average Non-CEO NEOs Equity Component of CAP for FY 2024:
Equity Type	Fair Value of Current Year Equity Awards at 12/31/2024		Change in Value of Prior Years' Awards Unvested at 12/31/2024		Change in Value of Prior Years' Awards That Vested in FY 2024		Equity Value Included in CAP
	(a)		(b)		(c)		(d) = (a) + (b) + (c)
ISOs	$	115,086	$	38,591	$	14,123	$	167,800
RSAs		—		—		—		—
RSUs		107,059		14,077		7,578		128,714
PSUs		107,059		23,748		1,105		131,912
Total	$	329,204	$	76,416	$	22,806	$	428,426

Compensation Actually Paid vs. Net Income

The chart below shows the relationship between compensation actually paid to our CEO and the average of the compensation actually paid to our Other NEOs and our net income over the most recently completed fiscal years.

CAP vs. Net Income

Tabular List, Table

The four items listed below represent the most important metrics we used to determine CAP for the year ended December 31, 2024 as further described in our Compensation Discussion and Analysis within the Short Term Incentives and Long Term Incentives sections.

      Most Important Performance Measures

     

      Efficiency Ratio

     

      Return on Assets

     

      Return on Equity

     

      Annual Net Income Growth

     

Peer Group Total Shareholder Return Amount

^[1]

105.88

84.7

88.96

116.73

86.37

Company Selected Measure Amount

0.12

(0.15)

0.03

0.13

0.23

Name

Efficiency Ratio