FIRST FINANCIAL BANKSHARES ANNOUNCES FIRST QUARTER 2025 EARNINGS
First Financial Bankshares (NASDAQ: FFIN) reported strong Q1 2025 earnings of $61.35 million, up from $53.40 million in Q1 2024. Earnings per share increased to $0.43 from $0.37 year-over-year.
Key financial highlights:
- Net interest income rose to $118.79 million from $100.24 million YoY
- Net interest margin improved to 3.74% from 3.34% YoY
- Total assets reached $14.31 billion, up from $13.19 billion
- Loans grew to $7.95 billion from $7.23 billion
- Deposits and Repurchase Agreements increased to $12.52 billion from $11.60 billion
The efficiency ratio improved to 46.36% from 48.37% YoY, while nonperforming assets increased to 0.78% of loans from 0.51%. The company maintained strong capital levels with shareholders' equity at $1.68 billion.
First Financial Bankshares (NASDAQ: FFIN) ha riportato solidi risultati nel primo trimestre 2025 con un utile di 61,35 milioni di dollari, in crescita rispetto ai 53,40 milioni del primo trimestre 2024. L'utile per azione è salito a 0,43 dollari rispetto a 0,37 dollari anno su anno.
Punti chiave finanziari:
- Il reddito netto da interessi è aumentato a 118,79 milioni di dollari da 100,24 milioni anno su anno
- Il margine netto da interessi è migliorato al 3,74% dal 3,34% anno su anno
- Gli attivi totali hanno raggiunto i 14,31 miliardi di dollari, in aumento rispetto ai 13,19 miliardi
- I prestiti sono cresciuti a 7,95 miliardi da 7,23 miliardi
- I depositi e gli accordi di riacquisto sono saliti a 12,52 miliardi da 11,60 miliardi
Il rapporto di efficienza è migliorato al 46,36% rispetto al 48,37% anno su anno, mentre gli attivi deteriorati sono aumentati allo 0,78% dei prestiti da 0,51%. L’azienda ha mantenuto solidi livelli di capitale con un patrimonio netto degli azionisti di 1,68 miliardi di dollari.
First Financial Bankshares (NASDAQ: FFIN) reportó sólidos resultados en el primer trimestre de 2025 con ganancias de 61,35 millones de dólares, frente a los 53,40 millones del primer trimestre de 2024. Las ganancias por acción aumentaron a 0,43 dólares desde 0,37 dólares interanual.
Aspectos financieros clave:
- Los ingresos netos por intereses subieron a 118,79 millones de dólares desde 100,24 millones interanual
- El margen neto de intereses mejoró al 3,74% desde 3,34% interanual
- Los activos totales alcanzaron 14,31 mil millones de dólares, aumentando desde 13,19 mil millones
- Los préstamos crecieron a 7,95 mil millones desde 7,23 mil millones
- Los depósitos y acuerdos de recompra aumentaron a 12,52 mil millones desde 11,60 mil millones
El índice de eficiencia mejoró a 46,36% desde 48,37% interanual, mientras que los activos problemáticos aumentaron al 0,78% de los préstamos desde 0,51%. La compañía mantuvo niveles sólidos de capital con un patrimonio neto de los accionistas de 1,68 mil millones de dólares.
First Financial Bankshares (NASDAQ: FFIN)는 2025년 1분기에 6,135만 달러의 강력한 실적을 보고했으며, 이는 2024년 1분기의 5,340만 달러에서 증가한 수치입니다. 주당 순이익은 전년 동기 대비 0.37달러에서 0.43달러로 상승했습니다.
주요 재무 하이라이트:
- 순이자수익은 전년 대비 1억 2,479만 달러에서 1억 1,879만 달러로 증가
- 순이자마진은 전년 대비 3.34%에서 3.74%로 개선
- 총자산은 131억 9천만 달러에서 143억 1천만 달러로 증가
- 대출금은 72억 3천만 달러에서 79억 5천만 달러로 성장
- 예금 및 환매조건부채권은 116억 달러에서 125억 2천만 달러로 증가
효율성 비율은 전년 대비 48.37%에서 46.36%로 개선되었으며, 부실자산은 대출의 0.51%에서 0.78%로 증가했습니다. 회사는 16억 8천만 달러의 주주 자본으로 견고한 자본 수준을 유지했습니다.
First Financial Bankshares (NASDAQ : FFIN) a annoncé un solide bénéfice au premier trimestre 2025 de 61,35 millions de dollars, en hausse par rapport à 53,40 millions au premier trimestre 2024. Le bénéfice par action est passé de 0,37 à 0,43 dollar d’une année sur l’autre.
Points financiers clés :
- Le produit net d’intérêts a augmenté à 118,79 millions de dollars contre 100,24 millions en glissement annuel
- La marge nette d’intérêts s’est améliorée à 3,74 % contre 3,34 % en glissement annuel
- Le total des actifs a atteint 14,31 milliards de dollars, en hausse par rapport à 13,19 milliards
- Les prêts ont progressé à 7,95 milliards contre 7,23 milliards
- Les dépôts et accords de rachat ont augmenté à 12,52 milliards contre 11,60 milliards
Le ratio d’efficacité s’est amélioré à 46,36 % contre 48,37 % en glissement annuel, tandis que les actifs non performants ont augmenté à 0,78 % des prêts contre 0,51 %. La société a maintenu des niveaux solides de capital avec des capitaux propres s’élevant à 1,68 milliard de dollars.
First Financial Bankshares (NASDAQ: FFIN) meldete starke Ergebnisse für das erste Quartal 2025 mit einem Gewinn von 61,35 Millionen US-Dollar, gegenüber 53,40 Millionen US-Dollar im ersten Quartal 2024. Der Gewinn pro Aktie stieg von 0,37 auf 0,43 US-Dollar im Jahresvergleich.
Wesentliche finanzielle Highlights:
- Der Nettozinsertrag stieg von 100,24 Millionen auf 118,79 Millionen US-Dollar im Jahresvergleich
- Die Nettozinsmarge verbesserte sich von 3,34 % auf 3,74 % im Jahresvergleich
- Die Gesamtaktiva erreichten 14,31 Milliarden US-Dollar, gegenüber 13,19 Milliarden
- Die Kredite wuchsen von 7,23 Milliarden auf 7,95 Milliarden
- Einlagen und Rückkaufvereinbarungen stiegen von 11,60 Milliarden auf 12,52 Milliarden US-Dollar
Die Effizienzquote verbesserte sich von 48,37 % auf 46,36 % im Jahresvergleich, während notleidende Vermögenswerte von 0,51 % auf 0,78 % der Kredite zunahmen. Das Unternehmen hielt starke Kapitalquoten mit einem Eigenkapital der Aktionäre von 1,68 Milliarden US-Dollar aufrecht.
- Net earnings increased 14.9% YoY to $61.35 million
- Net interest income grew 18.5% YoY to $118.79 million
- Net interest margin improved 40 basis points YoY to 3.74%
- Deposits grew 12.10% annualized in Q1 2025
- Efficiency ratio improved to 46.36% from 48.37%
- Nonperforming assets increased to 0.78% from 0.51% YoY
- Classified loans increased to $245.61M from $201.59M YoY
- Mortgage income decreased to $2.83M from $3.13M YoY
- Service charges on deposits declined to $6.18M from $6.25M YoY
- Noninterest expenses increased 10% YoY to $70.34M
Insights
FFIN delivered impressive 14.9% earnings growth with expanding margins and strong deposit gathering, outweighing modest credit quality deterioration.
First Financial Bankshares demonstrated robust financial performance in Q1 2025, with
The net interest margin expansion to
Deposit gathering success stands out as a key competitive advantage, with
The efficiency ratio improvement to
The
While FFIN's overall results are strong, the credit quality metrics warrant careful monitoring. Nonperforming assets increased to
Management has responded appropriately by increasing the provision for credit losses to
Actual net charge-offs remain well-controlled at
The bank maintains a strong capital position with
These credit metrics, while showing deterioration, remain within manageable parameters for a well-capitalized institution and don't yet signal broader systemic concerns about FFIN's loan portfolio quality.
"Our improved results from first quarter 2024 were primarily due to an increase in net interest income related to our balance sheet growth over the previous year. Strong deposit inflows have supported loan growth as well as continued bond investments which has supported margin growth in addition to bolstering our liquidity," said F. Scott Dueser, Chairman and CEO. "While markets have been volatile recently, our Company remains financially strong, sound and secure as reflected in our capital levels, diversified deposit base and access to multiple liquidity sources. I appreciate our team who live our Non-negotiables every day which provides our customers with outstanding service and helped us attain the honor of being the 3rd Best Bank in the Country by Forbes Magazine," added Mr. Dueser.
Net interest income for the first quarter of 2025 was
The Company recorded a provision for credit losses of
Net charge-offs totaled
Noninterest income for the first quarter of 2025 was
- Trust fees increased to
$12.65 million $11.38 million $10.86 billion $10.15 billion - Service charges on deposits decreased to
$6.18 million $6.25 million - Mortgage income decreased to
$2.83 million $3.13 million
Noninterest expense for the first quarter of 2025 totaled
- Salary, commissions, and employee benefit costs increased to
$42.14 million $36.68 million $1.31 million $780 thousand $646 thousand - Noninterest expenses, excluding salary related costs, increased
$936 thousand
The Company's efficiency ratio was 46.36 percent for the first quarter of 2025 compared to 48.37 percent for the first quarter of 2024.
As of March 31, 2025, consolidated total assets were
Shareholders' equity was
About First Financial Bankshares, Inc.
Headquartered in
The Company is listed on The Nasdaq Global Select Market under the trading symbol FFIN. For more information about First Financial, please visit our website at https://www.ffin.com.
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," "project," 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; economic impact of oil and gas prices, 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 and Filings" on the Company's Website or by writing or calling the Company at 325.627.7155. Except as otherwise stated in this news announcement, the Company does not undertake any obligation to update publicly or revise any forward-looking statements because of new information, future events or otherwise.
FIRST FINANCIAL BANKSHARES, INC. | |||||||||||||||
CONSOLIDATED FINANCIAL SUMMARY (UNAUDITED) | |||||||||||||||
(In thousands, except share and per share data) | |||||||||||||||
As of | |||||||||||||||
2025 | 2024 | ||||||||||||||
ASSETS | Mar. 31, | Dec. 31, | Sept. 30, | June 30, | Mar. 31, | ||||||||||
Cash and due from banks | $ | 232,943 | $ | 259,996 | $ | 296,188 | $ | 263,262 | $ | 222,464 | |||||
Interest-bearing demand deposits in banks | 682,362 | 503,417 | 287,476 | 103,315 | 365,397 | ||||||||||
Federal funds sold | 11,750 | - | - | 2,800 | 12,300 | ||||||||||
Investment securities | 4,760,431 | 4,617,759 | 4,612,299 | 4,573,024 | 4,658,526 | ||||||||||
Loans, held-for-investment | 7,945,611 | 7,913,098 | 7,723,191 | 7,519,733 | 7,229,410 | ||||||||||
Allowance for credit losses | (101,080) | (98,325) | (99,936) | (95,170) | (89,562) | ||||||||||
Net loans, held-for-investment | 7,844,531 | 7,814,773 | 7,623,255 | 7,424,563 | 7,139,848 | ||||||||||
Loans, held-for-sale | 14,348 | 8,235 | 20,114 | 19,668 | 16,109 | ||||||||||
Premises and equipment, net | 150,589 | 151,904 | 151,204 | 153,075 | 151,953 | ||||||||||
Goodwill | 313,481 | 313,481 | 313,481 | 313,481 | 313,481 | ||||||||||
Other intangible assets | 428 | 523 | 671 | 828 | 984 | ||||||||||
Other assets | 301,251 | 309,330 | 278,244 | 310,059 | 310,096 | ||||||||||
Total assets | $ | 14,312,114 | $ | 13,979,418 | $ | 13,582,932 | $ | 13,164,075 | $ | 13,191,158 | |||||
LIABILITIES AND SHAREHOLDERS' EQUITY | |||||||||||||||
Noninterest-bearing deposits | $ | 3,356,553 | $ | 3,348,041 | $ | 3,303,143 | $ | 3,289,032 | $ | 3,348,147 | |||||
Interest-bearing deposits | 9,110,218 | 8,751,133 | 8,452,718 | 8,120,125 | 7,941,661 | ||||||||||
Total deposits | 12,466,771 | 12,099,174 | 11,755,861 | 11,409,157 | 11,289,808 | ||||||||||
Repurchase agreements | 56,606 | 61,416 | 57,557 | 138,950 | 307,297 | ||||||||||
Borrowings | 26,978 | 135,603 | 25,978 | 23,703 | 26,803 | ||||||||||
Trade date payable | - | - | 5,416 | - | - | ||||||||||
Other liabilities | 81,498 | 76,665 | 75,929 | 73,239 | 75,883 | ||||||||||
Shareholders' equity | 1,680,261 | 1,606,560 | 1,662,191 | 1,519,026 | 1,491,367 | ||||||||||
Total liabilities and shareholders' equity | $ | 14,312,114 | $ | 13,979,418 | $ | 13,582,932 | $ | 13,164,075 | $ | 13,191,158 | |||||
Quarter Ended | |||||||||||||||
2025 | 2024 | ||||||||||||||
INCOME STATEMENTS | Mar. 31, | Dec. 31, | Sept. 30, | June 30, | Mar. 31, | ||||||||||
Interest income | $ | 167,110 | $ | 165,792 | $ | 159,958 | $ | 153,673 | $ | 149,495 | |||||
Interest expense | 48,321 | 49,675 | 52,849 | 50,400 | 49,253 | ||||||||||
Net interest income | 118,789 | 116,117 | 107,109 | 103,273 | 100,242 | ||||||||||
Provision for credit losses | 3,528 | 1,003 | 6,123 | 5,888 | 808 | ||||||||||
Net interest income after provision for credit losses | 115,261 | 115,114 | 100,986 | 97,385 | 99,434 | ||||||||||
Noninterest income | 30,230 | 30,977 | 32,362 | 31,268 | 29,383 | ||||||||||
Noninterest expense | 70,335 | 70,099 | 66,012 | 65,012 | 63,940 | ||||||||||
Net income before income taxes | 75,156 | 75,992 | 67,336 | 63,641 | 64,877 | ||||||||||
Income tax expense | 13,810 | 13,671 | 12,028 | 11,156 | 11,480 | ||||||||||
Net income | $ | 61,346 | $ | 62,321 | $ | 55,308 | $ | 52,485 | $ | 53,397 | |||||
PER COMMON SHARE DATA | |||||||||||||||
Net income - basic | $ | 0.43 | $ | 0.44 | $ | 0.39 | $ | 0.37 | $ | 0.37 | |||||
Net income - diluted | 0.43 | 0.43 | 0.39 | 0.37 | 0.37 | ||||||||||
Cash dividends declared | 0.18 | 0.18 | 0.18 | 0.18 | 0.18 | ||||||||||
Book value | 11.75 | 11.24 | 11.63 | 10.63 | 10.44 | ||||||||||
Tangible book value | 9.55 | 9.04 | 9.43 | 8.43 | 8.24 | ||||||||||
Market value | 35.92 | 36.05 | 37.01 | 29.53 | 32.81 | ||||||||||
Shares outstanding - end of period | 143,019,433 | 142,944,704 | 142,906,070 | 142,848,909 | 142,817,159 | ||||||||||
Average outstanding shares - basic | 142,949,514 | 142,898,110 | 142,853,215 | 142,814,363 | 142,724,674 | ||||||||||
Average outstanding shares - diluted | 143,355,148 | 143,352,067 | 143,188,857 | 143,088,930 | 143,029,449 | ||||||||||
PERFORMANCE RATIOS | |||||||||||||||
Return on average assets | 1.78 | % | 1.81 | % | 1.66 | % | 1.61 | % | 1.62 | % | |||||
Return on average equity | 15.12 | 15.17 | 14.00 | 14.43 | 14.43 | ||||||||||
Return on average tangible equity | 18.68 | 18.78 | 17.49 | 18.38 | 18.29 | ||||||||||
Net interest margin (tax equivalent) | 3.74 | 3.67 | 3.50 | 3.48 | 3.34 | ||||||||||
Efficiency ratio | 46.36 | 46.81 | 46.45 | 47.41 | 48.37 | ||||||||||
FIRST FINANCIAL BANKSHARES, INC. | |||||||||||||||
SELECTED FINANCIAL DATA (UNAUDITED) | |||||||||||||||
(In thousands) | |||||||||||||||
Quarter Ended | |||||||||||||||
2025 | 2024 | ||||||||||||||
ALLOWANCE FOR LOAN LOSSES | Mar. 31, | Dec. 31, | Sept. 30, | June 30, | Mar. 31, | ||||||||||
Balance at beginning of period | $ | 98,325 | $ | 99,936 | $ | 95,170 | $ | 89,562 | $ | 88,734 | |||||
Loans charged-off | (946) | (2,184) | (1,279) | (702) | (850) | ||||||||||
Loan recoveries | 710 | 243 | 493 | 400 | 422 | ||||||||||
Net recoveries (charge-offs) | (236) | (1,941) | (786) | (302) | (428) | ||||||||||
Provision for loan losses | 2,991 | 330 | 5,552 | 5,910 | 1,256 | ||||||||||
Balance at end of period | $ | 101,080 | $ | 98,325 | $ | 99,936 | $ | 95,170 | $ | 89,562 | |||||
ALLOWANCE FOR UNFUNDED COMMITMENTS | |||||||||||||||
Balance at beginning of period | $ | 8,677 | $ | 8,004 | $ | 7,433 | $ | 7,455 | $ | 7,903 | |||||
Provision for unfunded commitments | 537 | 673 | 571 | (22) | (448) | ||||||||||
Balance at end of period | $ | 9,214 | $ | 8,677 | $ | 8,004 | $ | 7,433 | $ | 7,455 | |||||
Allowance for loan losses / | |||||||||||||||
period-end loans held-for-investment | 1.27 | % | 1.24 | % | 1.29 | % | 1.27 | % | 1.24 | % | |||||
Allowance for loan losses / | |||||||||||||||
nonperforming loans | 164.16 | 158.02 | 156.44 | 157.20 | 247.48 | ||||||||||
Net charge-offs (recoveries) / average total loans | |||||||||||||||
(annualized) | 0.01 | 0.10 | 0.04 | 0.02 | 0.02 | ||||||||||
As of | |||||||||||||||
2025 | 2024 | ||||||||||||||
COMPOSITION OF LOANS HELD-FOR-INVESTMENT | Mar. 31, | Dec. 31, | Sept. 30, | June 30, | Mar. 31, | ||||||||||
Commercial: | |||||||||||||||
C&I | $ | 1,144,429 | $ | 1,176,993 | $ | 1,175,774 | $ | 1,141,990 | $ | 1,191,516 | |||||
Municipal | 338,303 | 369,246 | 333,732 | 359,124 | 211,013 | ||||||||||
Total Commercial | 1,482,732 | 1,546,239 | 1,509,506 | 1,501,114 | 1,402,529 | ||||||||||
Agricultural | 90,186 | 95,543 | 83,269 | 86,186 | 87,882 | ||||||||||
Real Estate: | |||||||||||||||
Construction & Development | 1,098,069 | 1,054,603 | 1,013,810 | 986,394 | 921,773 | ||||||||||
Farm | 331,464 | 339,665 | 315,720 | 318,597 | 311,002 | ||||||||||
Non-Owner Occupied CRE | 753,898 | 805,566 | 825,928 | 815,713 | 853,721 | ||||||||||
Owner Occupied CRE | 1,142,618 | 1,083,100 | 1,086,750 | 1,049,715 | 1,032,845 | ||||||||||
Residential | 2,217,740 | 2,196,767 | 2,112,196 | 1,990,604 | 1,918,573 | ||||||||||
Total Real Estate | 5,543,789 | 5,479,701 | 5,354,404 | 5,161,023 | 5,037,914 | ||||||||||
Consumer: | |||||||||||||||
Auto | 679,189 | 638,560 | 618,103 | 615,192 | 549,837 | ||||||||||
Non-Auto | 149,715 | 153,055 | 157,909 | 156,218 | 151,248 | ||||||||||
Total Consumer | 828,904 | 791,615 | 776,012 | 771,410 | 701,085 | ||||||||||
Total loans held-for-investment | $ | 7,945,611 | $ | 7,913,098 | $ | 7,723,191 | $ | 7,519,733 | $ | 7,229,410 | |||||
SUMMARY OF LOAN CLASSIFICATION | |||||||||||||||
Special Mention | $ | 46,103 | $ | 42,563 | $ | 41,362 | $ | 57,864 | $ | 62,623 | |||||
Substandard | 199,509 | 191,288 | 188,561 | 161,399 | 138,964 | ||||||||||
Doubtful | - | - | - | - | - | ||||||||||
Total classified loans | $ | 245,612 | $ | 233,851 | $ | 229,923 | $ | 219,263 | $ | 201,587 | |||||
NONPERFORMING ASSETS | |||||||||||||||
Nonaccrual loans | $ | 60,430 | $ | 61,938 | $ | 63,378 | $ | 60,311 | $ | 36,157 | |||||
Accruing loans 90 days past due | 1,143 | 287 | 504 | 231 | 33 | ||||||||||
Total nonperforming loans | 61,573 | 62,225 | 63,882 | 60,542 | 36,190 | ||||||||||
Foreclosed assets | 115 | 871 | 535 | 647 | 1,014 | ||||||||||
Total nonperforming assets | $ | 61,688 | $ | 63,096 | $ | 64,417 | $ | 61,189 | $ | 37,204 | |||||
As a % of loans held-for-investment and foreclosed assets | 0.78 | % | 0.80 | % | 0.83 | % | 0.81 | % | 0.51 | % | |||||
As a % of end of period total assets | 0.43 | 0.45 | 0.47 | 0.46 | 0.28 | ||||||||||
Quarter Ended | |||||||||||||||
2025 | 2024 | ||||||||||||||
CAPITAL RATIOS | Mar. 31, | Dec. 31, | Sept. 30, | June 30, | Mar. 31, | ||||||||||
Common equity Tier 1 capital ratio | 19.12 | % | 18.83 | % | 18.83 | % | 18.42 | % | 18.60 | % | |||||
Tier 1 capital ratio | 19.12 | 18.83 | 18.83 | 18.42 | 18.60 | ||||||||||
Total capital ratio | 20.31 | 20.00 | 20.03 | 19.55 | 19.70 | ||||||||||
Tier 1 leverage ratio | 12.46 | 12.49 | 12.53 | 12.40 | 12.12 | ||||||||||
Tangible common equity ratio | 9.76 | 9.46 | 10.16 | 9.38 | 9.14 | ||||||||||
Equity/Assets ratio | 11.74 | 11.49 | 12.24 | 11.54 | 11.31 | ||||||||||
Quarter Ended | |||||||||||||||
2025 | 2024 | ||||||||||||||
NONINTEREST INCOME | Mar. 31, | Dec. 31, | Sept. 30, | June 30, | Mar. 31, | ||||||||||
Trust fees | $ | 12,653 | $ | 12,662 | $ | 11,694 | $ | 11,714 | $ | 11,379 | |||||
Service charges on deposits | 6,177 | 6,306 | 6,428 | 6,009 | 6,246 | ||||||||||
Debit card fees | 4,967 | 5,506 | 5,528 | 5,145 | 4,891 | ||||||||||
Credit card fees | 577 | 617 | 617 | 672 | 631 | ||||||||||
Gain on sale and fees on mortgage loans | 2,832 | 3,009 | 3,359 | 3,687 | 3,128 | ||||||||||
Net gain (loss) on sale of available-for-sale securities | - | - | - | - | - | ||||||||||
Net gain (loss) on sale of foreclosed assets | (35) | 36 | (30) | (58) | - | ||||||||||
Net gain (loss) on sale of assets | - | 214 | 267 | 2 | - | ||||||||||
Loan recoveries | 574 | 433 | 1,359 | 664 | 555 | ||||||||||
Other noninterest income | 2,485 | 2,194 | 3,140 | 3,433 | 2,553 | ||||||||||
Total noninterest income | $ | 30,230 | $ | 30,977 | $ | 32,362 | $ | 31,268 | $ | 29,383 | |||||
NONINTEREST EXPENSE | |||||||||||||||
Salaries, commissions and employee benefits, excluding profit sharing | $ | 39,157 | $ | 37,996 | $ | 35,262 | $ | 35,569 | $ | 35,003 | |||||
Profit sharing expense | 2,985 | 3,648 | 2,235 | 1,903 | 1,680 | ||||||||||
Net occupancy expense | 3,720 | 3,753 | 3,738 | 3,618 | 3,470 | ||||||||||
Equipment expense | 2,321 | 2,305 | 2,291 | 2,233 | 2,237 | ||||||||||
FDIC insurance premiums | 1,575 | 1,511 | 1,514 | 1,508 | 1,965 | ||||||||||
Debit card expense | 3,373 | 3,220 | 3,248 | 3,242 | 3,058 | ||||||||||
Legal, tax and professional fees | 3,067 | 3,751 | 3,865 | 3,809 | 2,734 | ||||||||||
Audit fees | 451 | 423 | 582 | 453 | 333 | ||||||||||
Printing, stationery and supplies | 482 | 293 | 199 | 425 | 447 | ||||||||||
Amortization of intangible assets | 95 | 147 | 157 | 157 | 157 | ||||||||||
Advertising, meals and public relations | 1,677 | 1,642 | 1,466 | 1,466 | 1,455 | ||||||||||
Operational and other losses | 540 | 863 | 955 | 769 | 1,154 | ||||||||||
Software amortization and expense | 3,732 | 3,648 | 3,712 | 3,158 | 3,005 | ||||||||||
Other noninterest expense | 7,160 | 6,899 | 6,788 | 6,702 | 7,242 | ||||||||||
Total noninterest expense | $ | 70,335 | $ | 70,099 | $ | 66,012 | $ | 65,012 | $ | 63,940 | |||||
TAX EQUIVALENT YIELD ADJUSTMENT | $ | 2,700 | $ | 2,673 | $ | 2,628 | $ | 2,572 | $ | 2,573 | |||||
FIRST FINANCIAL BANKSHARES, INC. | |||||||||||||||||||||
SELECTED FINANCIAL DATA (UNAUDITED) | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Three Months Ended | Three Months Ended | ||||||||||||||||||||
Mar. 31, 2025 | Dec. 31, 2024 | ||||||||||||||||||||
Average | Tax Equivalent | Yield / | Average | Tax Equivalent | Yield / | ||||||||||||||||
Balance | Interest | Rate | Balance | Interest | Rate | ||||||||||||||||
Interest-earning assets: | |||||||||||||||||||||
Federal funds sold | $ | 7,596 | $ | 90 | 4.81 | % | $ | 1,895 | $ | 23 | 4.90 | % | |||||||||
Interest-bearing demand deposits in nonaffiliated banks | 286,040 | 3,174 | 4.50 | 308,118 | 3,578 | 4.62 | |||||||||||||||
Taxable securities | 3,506,035 | 25,034 | 2.86 | 3,320,754 | 21,896 | 2.64 | |||||||||||||||
Tax-exempt securities | 1,407,440 | 9,912 | 2.82 | 1,425,934 | 9,858 | 2.77 | |||||||||||||||
Loans | 7,952,946 | 131,600 | 6.71 | 7,806,860 | 133,110 | 6.78 | |||||||||||||||
Total interest-earning assets | 13,160,057 | $ | 169,810 | 5.23 | % | 12,863,561 | $ | 168,465 | 5.21 | % | |||||||||||
Noninterest-earning assets | 830,055 | 824,757 | |||||||||||||||||||
Total assets | $ | 13,990,112 | $ | 13,688,318 | |||||||||||||||||
Interest-bearing liabilities: | |||||||||||||||||||||
Deposits | $ | 8,882,040 | $ | 47,549 | 2.17 | % | $ | 8,523,405 | $ | 49,139 | 2.29 | % | |||||||||
Repurchase Agreements | 53,920 | 209 | 1.57 | 63,350 | 271 | 1.70 | |||||||||||||||
Borrowings | 74,561 | 563 | 3.06 | 39,709 | 265 | 2.65 | |||||||||||||||
Total interest-bearing liabilities | 9,010,521 | $ | 48,321 | 2.17 | % | 8,626,464 | $ | 49,675 | 2.29 | % | |||||||||||
Noninterest-bearing deposits | 3,265,838 | 3,348,062 | |||||||||||||||||||
Other noninterest-bearing liabilities | 68,218 | 79,271 | |||||||||||||||||||
Shareholders' equity | 1,645,535 | 1,634,521 | |||||||||||||||||||
Total liabilities and shareholders' equity | $ | 13,990,112 | $ | 13,688,318 | |||||||||||||||||
Net interest income and margin (tax equivalent) | $ | 121,489 | 3.74 | % | $ | 118,790 | 3.67 | % | |||||||||||||
Three Months Ended | Three Months Ended | ||||||||||||||||||||
Sept. 30, 2024 | June 30, 2024 | ||||||||||||||||||||
Average | Tax Equivalent | Yield / | Average | Tax Equivalent | Yield / | ||||||||||||||||
Balance | Interest | Rate | Balance | Interest | Rate | ||||||||||||||||
Interest-earning assets: | |||||||||||||||||||||
Federal funds sold | $ | 2,901 | $ | 43 | 5.84 | % | $ | 5,160 | $ | 74 | 5.81 | % | |||||||||
Interest-bearing demand deposits in nonaffiliated banks | 200,756 | 2,716 | 5.38 | 159,707 | 2,292 | 5.77 | |||||||||||||||
Taxable securities | 3,211,490 | 19,866 | 2.47 | 3,250,684 | 19,912 | 2.45 | |||||||||||||||
Tax-exempt securities | 1,418,214 | 9,742 | 2.75 | 1,404,706 | 9,730 | 2.77 | |||||||||||||||
Loans | 7,643,238 | 130,220 | 6.78 | 7,405,297 | 124,237 | 6.75 | |||||||||||||||
Total interest-earning assets | 12,476,599 | $ | 162,587 | 5.18 | % | 12,225,554 | $ | 156,245 | 5.14 | % | |||||||||||
Noninterest-earning assets | 817,757 | 855,719 | |||||||||||||||||||
Total assets | $ | 13,294,356 | $ | 13,081,273 | |||||||||||||||||
Interest-bearing liabilities: | |||||||||||||||||||||
Deposits | $ | 8,240,938 | $ | 51,994 | 2.51 | % | $ | 8,020,247 | $ | 48,414 | 2.43 | % | |||||||||
Repurchase Agreements | 100,892 | 740 | 2.92 | 212,590 | 1,895 | 3.59 | |||||||||||||||
Borrowings | 24,670 | 116 | 1.87 | 22,932 | 91 | 1.60 | |||||||||||||||
Total interest-bearing liabilities | 8,366,500 | $ | 52,850 | 2.51 | % | 8,255,769 | $ | 50,400 | 2.46 | % | |||||||||||
Noninterest-bearing deposits | 3,279,486 | 3,289,906 | |||||||||||||||||||
Other noninterest-bearing liabilities | 76,274 | 72,464 | |||||||||||||||||||
Shareholders' equity | 1,572,096 | 1,463,134 | |||||||||||||||||||
Total liabilities and shareholders' equity | $ | 13,294,356 | $ | 13,081,273 | |||||||||||||||||
Net interest income and margin (tax equivalent) | $ | 109,737 | 3.50 | % | $ | 105,845 | 3.48 | % | |||||||||||||
Three Months Ended | |||||||||
Mar. 31, 2024 | |||||||||
Average | Tax Equivalent | Yield / | |||||||
Balance | Interest | Rate | |||||||
Interest-earning assets: | |||||||||
Federal funds sold | $ | 3,923 | $ | 57 | 5.85 | % | |||
Interest-bearing demand deposits in nonaffiliated banks | 344,969 | 4,657 | 5.43 | ||||||
Taxable securities | 3,376,324 | 19,952 | 2.36 | ||||||
Tax-exempt securities | 1,434,505 | 9,794 | 2.73 | ||||||
Loans | 7,205,424 | 117,608 | 6.56 | ||||||
Total interest-earning assets | 12,365,145 | $ | 152,068 | 4.95 | % | ||||
Noninterest-earning assets | 864,885 | ||||||||
Total assets | $ | 13,230,030 | |||||||
Interest-bearing liabilities: | |||||||||
Deposits | $ | 7,878,094 | $ | 45,250 | 2.31 | % | |||
Repurchase Agreements | 317,439 | 2,562 | 3.25 | ||||||
Borrowings | 132,963 | 1,441 | 4.36 | ||||||
Total interest-bearing liabilities | 8,328,496 | $ | 49,253 | 2.38 | % | ||||
Noninterest-bearing deposits | 3,346,757 | ||||||||
Other noninterest-bearing liabilities | 66,134 | ||||||||
Shareholders' equity | 1,488,643 | ||||||||
Total liabilities and shareholders' equity | $ | 13,230,030 | |||||||
Net interest income and margin (tax equivalent) | $ | 102,815 | 3.34 | % | |||||
View original content:https://www.prnewswire.com/news-releases/first-financial-bankshares-announces-first-quarter-2025-earnings-302431837.html
SOURCE First Financial Bankshares, Inc.
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