First Financial Bankshares Stock Price, News & Analysis

First Financial Bankshares reported a rise in earnings for Q4 2022, reaching $58.67 million, up from $55.34 million in Q4 2021. Basic and diluted EPS for the quarter increased to $0.41 compared to $0.39 a year ago. For the full year, earnings totaled $234.48 million, a 3.04% increase from $227.56 million in 2021. The net interest income rose to $104.04 million, attributed to higher interest-earning assets, despite decreases in PPP loan income. Net charge-offs decreased to $905,000 from $2.28 million a year ago, but provisions for credit losses increased. Shareholders' equity fell to $1.27 billion due to rising interest rates.

First Financial Bank, N.A. has appointed Mike Parker as Executive Vice President and Chief Compliance Officer, effective January 18, 2023. Parker has over 15 years of compliance experience, previously serving as the director of compliance governance at USAA Federal Savings Bank. His role is expected to enhance the bank’s compliance management program amid a changing regulatory landscape. Parker's qualifications include a Bachelor of Science in economics from Virginia Commonwealth University and he holds the Certified Regulatory Compliance Manager (CRCM) designation. First Financial Bank operates numerous locations across Texas and is a subsidiary of First Financial Bankshares, Inc. (NASDAQ: FFIN).

First Financial Bankshares, Inc. (NASDAQ: FFIN) has appointed Michelle S. Hickox as Executive Vice President and Chief Financial Officer, succeeding James R. Gordon, who resigned on January 9, 2023, for personal reasons. Mrs. Hickox, formerly CFO at Independent Financial Group, brings extensive experience in banking and finance, having played a key role in the company’s IPO and multiple acquisitions. The company's chairman noted her knowledge will be vital for continued growth. Gordon will assist during the transition as a consultant.

Ron Butler, a 30-year veteran at First Financial Bank, will be inducted into the Texas Bankers Hall of Fame in April 2023. Currently serving as EVP and Chief Administrative Officer, Butler is recognized for his exceptional leadership and community involvement. Celebrating this accolade, F. Scott Dueser, CEO, praised Butler's role in elevating the bank's stature. With a broad range of leadership roles, Butler's contributions have been instrumental in First Financial's success. The company operates multiple banking regions across Texas and is listed on NASDAQ under the symbol FFIN.

First Financial Bank, N.A., a subsidiary of First Financial Bankshares (NASDAQ: FFIN), has opened its 79th branch in Lumberton, Texas. This new 3,300-square foot location strengthens the bank's presence in Southeast Texas, specifically extending services into Hardin County. Over the past nine years, the bank has seen significant growth in the region, bolstered by strong customer relationships. The facility features a drive-thru and ATM services, reinforcing the bank's commitment to community-oriented banking. First Financial has been a leader in banking and customer service since its Southeast Texas expansion in 2013.

First Financial Bankshares, Inc. (NASDAQ: FFIN) reported earnings of $59.34 million for Q3 2022, a slight increase from $58.93 million in Q3 2021. Diluted EPS remained at $0.41 year-over-year. Net interest income rose to $103.16 million from $95.78 million, driven by loan growth of 25.6% annualized. However, there was a $3.22 million provision for credit losses, contrasting with no provision last year. Noninterest income decreased to $30.94 million, influenced by a drop in debit card fees and mortgage revenues. Total assets reached $13.11 billion, up from $12.54 billion a year ago.

First Financial Trust & Asset Management Company, N.A. has appointed Susie Stalcup to its Board of Directors, a decision announced by Kirk W. Thaxton, Chairman, President & CEO. Stalcup brings nearly 30 years of experience in higher education philanthropy, including leadership roles at Vanderbilt University and Columbia University Medical Center. She previously served as Senior Vice President at First Financial Bank from 1983 to 1991. Stalcup's return is expected to bolster the company’s strategic growth, leveraging her extensive network and fundraising expertise.

First Financial Bankshares reported Q2 2022 earnings of $60.49 million, up from $56.38 million a year earlier. Earnings per share increased to $0.42 from $0.40. The company repurchased 244,559 shares at an average price of $38.61. Key growth metrics include $325.85 million in loan growth (23.5% annualized) and $123.16 million in deposit growth (4.49% annualized). However, there was a $6.56 million increase in provisions for credit losses.

First Financial Bankshares, Inc. (NASDAQ: FFIN) has appointed Murray H. Edwards as the new lead independent director following the retirement of Tucker S. Bridwell. Bridwell, who served since 2007, stepped down at the 2022 Annual Meeting of Shareholders. Edwards, a director since 2006 and chairman of the Directors Loan Committee, brings over 16 years of experience and significant leadership skills. He will also chair the Nominating/Corporate Governance Committee and serve on the Risk and Executive Committees, enhancing the company's governance and strategic oversight.