FIRST FINANCIAL BANKSHARES ANNOUNCES FOURTH QUARTER AND YEAR ENDED DECEMBER 31, 2025 EARNINGS

Rhea-AI Summary

First Financial Bankshares (NASDAQ: FFIN) reported Q4 2025 net income $73.31M and EPS $0.51, up from $62.32M and $0.43 in Q4 2024. For the year ended Dec 31, 2025, net income was $253.58M or $1.77 per diluted share, versus $223.51M and $1.56 in 2024 (a 13.45% increase).

Key operating metrics: Q4 net interest income was $131.37M with a tax-equivalent NIM of 3.81%. Average interest-earning assets were $14.08B. Total assets were $15.45B at year-end. Loans totaled $8.16B and deposits plus repos were $13.41B. Provision for credit losses totaled $28.61M for 2025. Efficiency ratio was 46.10% in Q4.

Positive

• Full-year net income +13.45% to $253.58M
• Total assets rose to $15.45B (≈10.6% YoY)
• Deposits and repurchase agreements increased by $1.25B (10.26% YoY)
• Q4 net interest income of $131.37M
• Q4 net charge-offs declined to $0.39M from $22.34M in Q3 2025

Negative

• Provision for credit losses increased to $28.61M in 2025 from $13.82M in 2024
• Q4 noninterest expense rose to $77.65M (up 10.8% YoY), driven by salary and software costs
• Unrealized loss on securities (net of tax) remained significant at $269.94M

News Market Reaction – FFIN

-2.82%

1 alert

-2.82% News Effect

On the day this news was published, FFIN declined 2.82%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Q4 2025 net income: $73.31 million Q4 2025 EPS: $0.51 2025 net income: $253.58 million +5 more

8 metrics

Q4 2025 net income $73.31 million Fourth quarter 2025 earnings versus $52.27 million in Q3 2025

Q4 2025 EPS $0.51 Diluted EPS for Q4 2025 vs $0.36 in Q3 2025 and $0.43 in Q4 2024

2025 net income $253.58 million Full-year 2025 net income vs $223.51 million in 2024

2025 EPS $1.77 per diluted share Full-year 2025 diluted EPS vs $1.56 in 2024

Q4 2025 net interest income $131.37 million Compared to $127.00 million in Q3 2025 and $116.12 million in Q4 2024

Net interest margin 3.81 percent Tax-equivalent NIM in Q4 2025 vs 3.80 percent in Q3 2025

Allowance for credit losses $105.54 million (1.29%) At December 31, 2025 vs $98.33 million (1.24%) at December 31, 2024

Total assets $15.45 billion Consolidated total assets at December 31, 2025 vs $13.98 billion a year earlier

Market Reality Check

Price: $31.98 Vol: Volume 823,730 is 1.2x th...

normal vol

$31.98 Last Close

Volume Volume 823,730 is 1.2x the 20-day average of 686,143, showing elevated interest ahead of and around the earnings release. normal

Technical Price at $33.81 is trading slightly below the 200-day MA of $33.87, near longer-term trend levels.

Peers on Argus

FFIN gained 4.58% with strong Q4 and FY 2025 results. Peers showed mixed moves: ...

FFIN gained 4.58% with strong Q4 and FY 2025 results. Peers showed mixed moves: AUB +6.22% (also reporting earnings), ABCB +3.51%, FLG +4%, FNB +2.42%, while HWC fell 2.79%. Mixed peer direction and a stock-specific earnings release point to a company-driven move.

Common Catalyst Earnings season appears to be a driver in regional banks, highlighted by AUB and FFIN both reporting quarterly and full-year results.

Historical Context

5 past events · Latest: Jan 14 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jan 14	Management promotions	Positive	+1.6%	Leadership promotions supporting multi-year succession and regional growth focus.
Oct 23	Q3 2025 earnings	Negative	-1.0%	Earnings pressured by large commercial loan charge-off and higher credit provision.
Oct 22	CIO transition	Neutral	+0.0%	Technology leadership transition to support scaling products and operations.
Oct 10	Community initiative	Positive	+2.2%	Participation in statewide community service day highlighting local engagement.
Jul 23	CFO promotion	Positive	-0.6%	Promotion of bank CFO emphasizing continuity in financial leadership.

Pattern Detected

Recent news events, including management changes and community initiatives, have generally seen price moves that align with the perceived tone of the announcements, with only one divergence on a positive management promotion.

Recent Company History

Over the last six months, FFIN has focused on leadership development, community engagement, and steady financial reporting. An October 8-K and Q3 2025 earnings highlighted the impact of a large commercial loan charge-off but also ongoing net interest income growth. Multiple insider purchases around late October 2025 coincided with succession and technology leadership updates. The latest Q4 and full-year 2025 earnings now emphasize record quarterly net income, improved credit metrics versus Q3, and continued balance sheet growth, reinforcing the trajectory outlined in prior filings and releases.

Market Pulse Summary

This announcement details record Q4 2025 net income, year-over-year growth in full-year earnings, an...

Analysis

This announcement details record Q4 2025 net income, year-over-year growth in full-year earnings, and higher net interest income and margin, alongside solid deposit and asset growth. Credit metrics improved versus Q3, with a provision reversal and lower net charge-offs, while the allowance for credit losses remained strong at 1.29% of loans. Investors may focus on how loan growth, deposit costs, and noninterest expense trends evolve, as well as management’s execution amid a changing rate and regulatory environment.

Key Terms

net interest income, net interest margin, provision for credit losses, allowance for credit losses, +4 more

8 terms

net interest income financial

"Net interest income for the fourth quarter of 2025 was $131.37 million"

Net interest income is the difference between the interest a financial institution earns on loans and investments and the interest it pays on deposits and borrowings. It matters to investors because it is a primary source of profit for banks and similar firms — like the gross margin on a store’s trade — and changes with loan growth, deposit costs and interest rates, so it signals core earning power and sensitivity to rate moves.

net interest margin financial

"The net interest margin, on a tax- equivalent basis, was 3.81 percent"

Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.

provision for credit losses financial

"compared to a provision for credit losses of $24.44 million for the third quarter"

Provision for credit losses is an amount set aside by a financial institution to cover potential future losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution manage risks and stay financially healthy. For investors, it signals how cautious a lender is about potential loan defaults and can impact the company's profitability and financial stability.

allowance for credit losses financial

"The allowance for credit losses totaled $105.54 million or 1.29 percent of total loans"

Allowance for credit losses is a reserve set aside by a financial institution to cover potential losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution prepare for loans that might turn sour. For investors, it signals how cautious the institution is about the quality of its loans and potential risks to its financial health.

net charge-offs financial

"For the fourth quarter of 2025, net charge-offs totaled $391 thousand"

Net charge-offs are the amount of loans or credit a lender removes from its books as uncollectible after subtracting any money later recovered from previously written-off accounts. Think of it like a store writing off unpaid tabs but getting back a few dollars later — the net figure shows the real loss. Investors watch this to judge a lender’s loan quality, future profits and how much capital may be needed to cover bad debts.

nonperforming assets financial

"Nonperforming assets as a percentage of loans and foreclosed assets totaled 0.69 percent"

Nonperforming assets are loans or investments that are not generating expected payments or returns because the borrower has fallen behind on payments or the investment has lost value. They matter to investors because a high level of nonperforming assets can indicate financial trouble for a bank or institution, potentially affecting its stability and profitability.

noninterest income financial

"Noninterest income for the fourth quarter of 2025 was $33.35 million"

Noninterest income is the money a bank or financial firm earns from activities other than charging interest on loans, such as account fees, transaction charges, advisory and underwriting fees, trading gains, and service income — like a store making extra money from repairs, warranties or delivery charges rather than product sales. It matters to investors because it shows how diversified a company’s revenue is and whether it can withstand changes in interest rates; a strong noninterest income stream can stabilize profits but may also be more variable than steady loan interest.

efficiency ratio financial

"The Company's efficiency ratio was 46.10 percent for the fourth quarter of 2025"

A measure of how much a company spends to produce each dollar of revenue, usually shown as operating expenses divided by revenue and expressed as a percentage. Think of it as a household’s budget: a lower percentage means more of each dollar earned stays as profit, while a higher number means costs are eating into returns. Investors use it to judge cost control and compare how efficiently companies turn revenue into earnings, especially in banks and financial firms.

AI-generated analysis. Not financial advice.

ABILENE, Texas, Jan. 22, 2026 /PRNewswire/ -- First Financial Bankshares, Inc. (the "Company," "we," "us" or "our") (NASDAQ: FFIN) today reported earnings of $73.31 million for the fourth quarter of 2025 compared to earnings of $52.27 million for the third quarter of 2025 and $62.32 million for the same quarter a year ago. Diluted earnings per share were $0.51 for the fourth quarter of 2025 compared with $0.36 for the third quarter of 2025 and $0.43 for the fourth quarter of 2024.

For the year ended December 31, 2025, the Company reported net income of $253.58 million, or $1.77 per diluted share, compared to $223.51 million, or $1.56 per diluted share, for the year ended December 31, 2024, reflecting an increase of $30.07 million, or 13.45 percent.

"We are pleased to report a strong finish to 2025, highlighted by record quarterly net income. We are especially happy with the strong deposit growth during the quarter, which will set us up well to grow both loans and securities in 2026," said F. Scott Dueser, Chairman and CEO of First Financial Bankshares, Inc. "We are encouraged by our organic balance sheet growth of almost $1.50 billion in the past year, increasing earning assets while continuing to grow net interest income.  As we enter 2026, we will continue to remain focused on sound lending growth, managing the changing interest rate environment and the regulatory landscape. We appreciate the continued support of our customers, shareholders and associates and assure you that we will continue to put You First!"

Net interest income for the fourth quarter of 2025 was $131.37 million compared to $127.00 million for the third quarter of 2025 and $116.12 million for the fourth quarter of 2024. The net interest margin, on a tax- equivalent basis, was 3.81 percent for the fourth quarter of 2025 compared to 3.80 percent for the third quarter of 2025 and 3.67 percent in the fourth quarter of 2024. Average interest-earning assets were $14.08 billion for the fourth quarter of 2025 compared to $12.86 billion for the same quarter a year ago.

The Company recorded a credit provision reversal of $2.49 million for the fourth quarter of 2025 compared to a provision for credit losses of $24.44 million for the third quarter of 2025 and $1.00 million in the fourth quarter 2024. The Company recorded a provision for credit losses of $28.61 million for the year ended December 31, 2025, compared to $13.82 million recorded in 2024.

The allowance for credit losses totaled $105.54 million or 1.29 percent of total loans held-for-investment ("loans hereafter") at December 31, 2025, compared to $98.33 million, at December 31, 2024, or 1.24 percent of loans. Additionally, the reserve for unfunded commitments totaled $6.39 million at December 31, 2025 compared to $8.68 million at December 31, 2024.

For the fourth quarter of 2025, net charge-offs totaled $391 thousand compared to net charge-offs of $22.34 million for the third quarter of 2025 and $1.94 million for the fourth quarter of 2024. Nonperforming assets as a percentage of loans and foreclosed assets totaled 0.69 percent on December 31, 2025, compared to 0.71 percent at September 30, 2025 and 0.80 percent at December 31, 2024. Classified loans totaled $255.61 million at December 31, 2025, compared to $252.96 million at September 30, 2025 and $233.85 million at December 31, 2024.

Noninterest income for the fourth quarter of 2025 was $33.35 million compared to $30.98 million for the fourth quarter of 2024. Notable changes for the fourth quarter of 2025 when compared to the same quarter a year ago are as follows:

• Mortgage income increased to $4.22 million for the fourth quarter of 2025 compared to $3.01 million in the fourth quarter of 2024 due to increased loan origination volumes and pricing margins.
• Trust fee income increased to $13.51 million for the fourth quarter of 2025 compared to $12.66 million in the same quarter last year which represents an increase of $850 thousand or 6.71 percent. Trust revenue has increased primarily due to growth in market value of assets under management to $11.94 billion at December 31, 2025 compared to $10.83 billion at December 31, 2024.

Noninterest expense for the fourth quarter of 2025 totaled $77.65 million compared to $70.10 million for the fourth quarter of 2024.  Notable changes for the fourth quarter of 2025 when compared to the same quarter a year ago are as follows:

• Salary, commissions, and employee benefit costs rose to $47.23 million for the fourth quarter of 2025, compared to $41.64 million in the fourth quarter of 2024. The increase from the fourth quarter of 2024 is largely due to merit-based pay increases and market adjustments for front line staff over the prior year, an increase of $1.17 million in profit sharing expense and an increase of $384 thousand in officer bonus and incentive accruals related to the Company's growth in net income over the prior year and increased mortgage activity.
• Noninterest expense, excluding salary related costs, increased $1.97 million for the fourth quarter of 2025 compared to the same period in 2024 largely due to increases in software amortization and expense and operational and other losses.

The Company's efficiency ratio was 46.10 percent for the fourth quarter of 2025 and 46.81 percent for the fourth quarter of 2024. The decrease from the same period in the prior year is primarily due to the increase in net interest income in 2025.   

As of December 31, 2025, consolidated total assets were $15.45 billion compared to $13.98 billion at December 31, 2024. Loans totaled $8.16 billion at December 31, 2025, compared with loans of $7.91 billion at December 31, 2024.  Loans grew $245.18 million, or 3.10 percent, from December 31, 2024 balances. Deposits and Repurchase Agreements totaled $13.41 billion at December 31, 2025, compared to $12.90 billion at September 30, 2025 and $12.16 billion at December 31, 2024.  During the fourth quarter of 2025, Deposits and Repurchase Agreements grew $511.59 million, or 15.74 percent annualized, when compared to September 30, 2025 balances and $1.25 billion from December 31, 2024, or 10.26 percent.

Shareholders' equity was $1.92 billion as of December 31, 2025, compared to $1.61 billion at December 31, 2024, resulting from growth in retained earnings and improvement in Other Comprehensive Income ("OCI") due to the decrease in unrealized losses in the bond portfolio related to lower longer-term interest rates. The unrealized loss on the securities portfolio, net of applicable tax, totaled $269.94 million at December 31, 2025, compared to $424.29 million at December 31, 2024.

About First Financial Bankshares, Inc.

Headquartered in Abilene, Texas, First Financial Bankshares is a financial holding company that through its wholly-owned subsidiary, First Financial Bank, operates multiple banking regions with 79 locations in Texas, including Abilene, Acton, Albany, Aledo, Alvarado, Beaumont, Boyd, Bridgeport, Brock, Bryan, Burleson, College Station, Cisco, Cleburne, Clyde, Conroe, Cut and Shoot, Decatur, Eastland, El Campo, Fort Worth, Franklin, Fulshear, Glen Rose, Granbury, Grapevine, Hereford, Huntsville, Lumberton, Keller, Kingwood, Magnolia, Mauriceville, Merkel, Midlothian, Mineral Wells, Montgomery, Moran, New Waverly, Newton, Odessa, Orange, Palacios, Port Arthur, Ranger, Rising Star, Roby, San Angelo, Southlake, Spring, Stephenville, Sweetwater, Tomball, Trent, Trophy Club, Vidor, Waxahachie, Weatherford, Willis, and Willow Park. The Company also operates First Financial Trust and Asset Management Company, with nine locations and First Technology Services, Inc., a technology operating company.

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		Dec. 31,			Sept. 30,			June 30,			Mar. 31,			Dec. 31,
Cash and due from banks	$	249,466		$	237,466		$	264,000		$	232,943		$	259,996
Interest-bearing demand deposits in banks		826,947			401,580			435,612			682,362			503,417
Federal funds sold		1,575			11,750			8,750			11,750			-
Investment securities		5,514,113			5,260,813			4,886,548			4,760,431			4,617,759
Loans, held-for-investment		8,158,276			8,243,625			8,074,944			7,945,611			7,913,098
Allowance for credit losses		(105,536)			(105,958)			(102,792)			(101,080)			(98,325)
Net loans, held-for-investment		8,052,740			8,137,667			7,972,152			7,844,531			7,814,773
Loans, held-for-sale		29,992			26,015			33,233			14,348			8,235
Premises and equipment, net		149,985			149,651			148,999			150,589			151,904
Goodwill		313,481			313,481			313,481			313,481			313,481
Other intangible assets		171			257			343			428			523
Other assets		308,006			302,848			313,723			301,251			309,330
Total assets	$	15,446,476		$	14,841,528		$	14,376,841		$	14,312,114		$	13,979,418
LIABILITIES AND SHAREHOLDERS'  EQUITY
Noninterest-bearing deposits	$	3,401,057		$	3,446,262		$	3,439,059		$	3,356,553		$	3,348,041
Interest-bearing deposits		9,944,472			9,399,986			9,009,357			9,110,218			8,751,133
Total deposits		13,345,529			12,846,248			12,448,416			12,466,771			12,099,174
Repurchase agreements		62,956			50,646			48,026			56,606			61,416
Borrowings		21,680			21,956			22,153			26,978			135,603
Trade date payable		-			-			24,965			-			-
Other liabilities		98,994			92,410			95,929			81,498			76,665
Shareholders' equity		1,917,317			1,830,268			1,737,352			1,680,261			1,606,560
Total liabilities and shareholders' equity	$	15,446,476		$	14,841,528		$	14,376,841		$	14,312,114		$	13,979,418
	Quarter Ended
		2025												2024
INCOME STATEMENTS		Dec. 31,			Sept. 30,			June 30,			Mar. 31,			Dec. 31,
Interest income	$	182,869		$	179,692		$	172,810		$	167,110		$	165,792
Interest expense		51,501			52,691			49,080			48,321			49,675
Net interest income		131,368			127,001			123,730			118,789			116,117
Provision for credit losses		(2,486)			24,435			3,132			3,528			1,003
Net interest income after provision for credit losses		133,854			102,566			120,598			115,261			115,114
Noninterest income		33,349			34,264			32,873			30,230			30,977
Noninterest expense		77,650			73,666			71,735			70,335			70,099
Net income before income taxes		89,553			63,164			81,736			75,156			75,992
Income tax expense		16,239			10,897			15,078			13,810			13,671
Net income	$	73,314		$	52,267		$	66,658		$	61,346		$	62,321
PER COMMON SHARE DATA
Net income - basic	$	0.51		$	0.37		$	0.47		$	0.43		$	0.44
Net income - diluted		0.51			0.36			0.47			0.43			0.43
Cash dividends declared		0.19			0.19			0.19			0.18			0.18
Book value		13.39			12.78			12.14			11.75			11.24
Tangible book value		11.20			10.59			9.95			9.55			9.04
Market value		29.87			33.65			35.98			35.92			36.05
Shares outstanding - end of period		143,213,102			143,188,051			143,077,619			143,019,433			142,944,704
Average outstanding shares - basic		143,180,215			143,105,224			143,023,544			142,949,514			142,898,110
Average outstanding shares - diluted		143,542,801			143,474,169			143,378,505			143,355,148			143,352,067
PERFORMANCE RATIOS
Return on average assets		1.94	%		1.44	%		1.89	%		1.78	%		1.81	%
Return on average equity		15.62			11.85			15.82			15.12			15.17
Return on average tangible equity		18.78			14.44			19.43			18.68			18.78
Net interest margin (tax equivalent)		3.81			3.80			3.81			3.74			3.67
Efficiency ratio		46.10			44.74			44.97			46.36			46.81
	Year Ended
	Dec. 31,
INCOME STATEMENTS		2025			2024
Interest income	$	702,480		$	628,918
Interest expense		201,593			202,177
Net interest income		500,887			426,741
Provision for credit losses		28,609			13,821
Net interest income after provisions for credit losses		472,278			412,920
Noninterest income		130,716			123,989
Noninterest expense		293,391			265,063
Net income before income taxes		309,603			271,846
Income tax expense		56,024			48,335
Net income	$	253,579		$	223,511
PER COMMON SHARE DATA
Net income - basic	$	1.77		$	1.56
Net income - diluted		1.77			1.56
Cash dividends declared		0.75			0.72
Book value		13.39			11.24
Tangible book value		11.20			9.04
Market value	$	29.87		$	36.05
Shares outstanding - end of period		143,213,102			142,944,704
Average outstanding shares - basic		143,065,368			142,822,880
Average outstanding shares - diluted		143,447,988			143,232,520
PERFORMANCE RATIOS
Return on average assets		1.76	%		1.68	%
Return on average equity		14.59			14.51
Return on average tangible equity		17.80			18.24
Net interest margin (tax equivalent)		3.79			3.50
Efficiency ratio		45.53			47.23
FIRST FINANCIAL BANKSHARES, INC.
SELECTED FINANCIAL DATA (UNAUDITED)
(In thousands)
	Quarter Ended
		2025												2024
ALLOWANCE FOR LOAN LOSSES		Dec. 31,			Sept. 30,			June 30,			Mar. 31,			Dec. 31,
Balance at beginning of period	$	105,958		$	102,792		$	101,080		$	98,325		$	99,936
Loans charged-off		(3,387)			(22,612)			(1,189)			(946)			(2,184)
Loan recoveries		2,996			272			469			710			243
Net recoveries (charge-offs)		(391)			(22,340)			(720)			(236)			(1,941)
Provision for loan losses		(31)			25,506			2,432			2,991			330
Balance at end of period	$	105,536		$	105,958		$	102,792		$	101,080		$	98,325
ALLOWANCE FOR UNFUNDED COMMITMENTS
Balance at beginning of period	$	8,842		$	9,914		$	9,214		$	8,677		$	8,004
Provision for unfunded commitments		(2,455)			(1,072)			700			537			673
Balance at end of period	$	6,387		$	8,842		$	9,914		$	9,214		$	8,677
Allowance for loan losses /
period-end loans held-for-investment		1.29	%		1.29	%		1.27	%		1.27	%		1.24	%
Allowance for loan losses /
nonperforming loans		188.41			187.39			162.60			164.16			158.02
Net charge-offs (recoveries) / average total loans
(annualized)		0.02			1.07			0.04			0.01			0.10
	As of
		2025												2024
COMPOSITION OF LOANS HELD-FOR-INVESTMENT		Dec. 31,			Sept. 30,			June 30,			Mar. 31,			Dec. 31,
Commercial:
C&I	$	1,116,461		$	1,174,770		$	1,202,151		$	1,144,429		$	1,176,993
Municipal		342,501			347,559			306,140			338,303			369,246
Total Commercial		1,458,962			1,522,329			1,508,291			1,482,732			1,546,239
Agricultural		95,776			88,820			86,133			90,186			95,543
Real Estate:
Construction & Development		1,157,865			1,214,649			1,172,834			1,098,069			1,054,603
Farm		327,625			322,710			302,969			331,464			339,665
Non-Owner Occupied CRE		832,816			802,675			746,341			753,898			805,566
Owner Occupied CRE		1,120,608			1,119,425			1,124,610			1,142,618			1,083,100
Residential		2,285,830			2,308,708			2,286,220			2,217,740			2,196,767
Total Real Estate		5,724,744			5,768,167			5,632,974			5,543,789			5,479,701
Consumer:
Auto		732,351			718,501			698,897			679,189			638,560
Non-Auto		146,443			145,808			148,649			149,715			153,055
Total Consumer		878,794			864,309			847,546			828,904			791,615
Total loans held-for-investment	$	8,158,276		$	8,243,625		$	8,074,944		$	7,945,611		$	7,913,098
SUMMARY OF LOAN CLASSIFICATION
Special Mention	$	66,058		$	76,647		$	62,774		$	46,103		$	42,563
Substandard		189,548			176,311			194,291			199,509			191,288
Doubtful		-			-			-			-			-
Total classified loans	$	255,606		$	252,958		$	257,065		$	245,612		$	233,851
NONPERFORMING ASSETS
Nonaccrual loans	$	55,121		$	56,394		$	63,142		$	60,430		$	61,938
Accruing loans 90 days past due		892			151			77			1,143			287
Total nonperforming loans		56,013			56,545			63,219			61,573			62,225
Foreclosed assets		479			1,997			489			115			871
Total nonperforming assets	$	56,492		$	58,542		$	63,708		$	61,688		$	63,096
As a % of loans held-for-investment and foreclosed assets		0.69	%		0.71	%		0.79	%		0.78	%		0.80	%
As a % of end of period total assets		0.37			0.39			0.44			0.43			0.45
	Quarter Ended
		2025												2024
CAPITAL RATIOS		Dec. 31,			Sept. 30,			June 30,			Mar. 31,			Dec. 31,
Common equity Tier 1 capital ratio		19.99	%		19.10	%		19.16	%		19.12	%		18.83	%
Tier 1 capital ratio		19.99			19.10			19.16			19.12			18.83
Total capital ratio		21.17			20.29			20.35			20.31			20.00
Tier 1 leverage ratio		12.55			12.34			12.61			12.46			12.49
Tangible common equity ratio		10.60			10.44			10.12			9.76			9.46
Equity/Assets ratio		12.41			12.33			12.08			11.74			11.49
	Quarter Ended
		2025												2024
NONINTEREST INCOME		Dec. 31,			Sept. 30,			June 30,			Mar. 31,			Dec. 31,
Trust fees	$	13,512		$	12,950		$	12,746		$	12,653		$	12,662
Service charges on deposits		6,140			6,447			6,126			6,177			6,306
Debit card fees		5,791			5,333			5,218			4,967			5,506
Credit card fees		678			699			707			577			617
Gain on sale and fees on mortgage loans		4,216			4,375			4,126			2,832			3,009
Net gain (loss) on sale of foreclosed assets		(12)			(122)			200			(35)			36
Net gain (loss) on sale of assets		-			-			6			-			214
Loan recoveries		546			1,664			810			574			433
Other noninterest income		2,478			2,918			2,934			2,485			2,194
Total noninterest income	$	33,349		$	34,264		$	32,873		$	30,230		$	30,977
NONINTEREST EXPENSE
Salaries, commissions and employee benefits, excluding profit sharing	$	42,409		$	40,681		$	39,834		$	39,157		$	37,996
Profit sharing expense		4,819			1,924			2,741			2,985			3,648
Net occupancy expense		3,458			3,545			3,600			3,720			3,753
Equipment expense		2,128			2,395			2,478			2,321			2,305
FDIC insurance premiums		1,695			1,635			1,585			1,575			1,511
Debit card expense		3,265			3,512			3,308			3,373			3,220
Legal, tax and professional fees		3,079			3,332			3,143			3,067			3,751
Audit fees		531			536			463			451			423
Printing, stationery and supplies		528			456			473			482			293
Amortization of intangible assets		86			86			86			95			147
Advertising, meals and public relations		1,923			1,714			1,653			1,677			1,642
Operational and other losses		1,583			1,957			720			540			863
Software amortization and expense		4,456			4,280			4,020			3,732			3,648
Other noninterest expense		7,690			7,613			7,631			7,160			6,899
Total noninterest expense	$	77,650		$	73,666		$	71,735		$	70,335		$	70,099
TAX EQUIVALENT YIELD ADJUSTMENT	$	3,709		$	3,406		$	2,926		$	2,700		$	2,673
	Year Ended
	Dec. 31,
NONINTEREST INCOME		2025			2024
Trust fees	$	51,861		$	47,449
Service charges on deposits		24,889			24,988
Debit card fees		21,310			21,070
Credit card fees		2,661			2,537
Gain on sale and fees on mortgage loans		15,550			13,183
Net gain on sale of foreclosed assets		31			(51)
Net gain (loss) on sale of assets		6			484
Loan recoveries		3,594			3,010
Other noninterest income		10,814			11,319
Total noninterest income	$	130,716		$	123,989
NONINTEREST EXPENSE
Salaries, commissions and employee benefits, excluding profit sharing	$	162,082		$	143,830
Profit sharing expense		12,469			9,466
Net occupancy expense		14,323			14,579
Equipment expense		9,321			9,065
FDIC insurance premiums		6,490			6,498
Debit card expense		13,456			12,768
Legal, tax and professional fees		12,619			14,157
Audit fees		1,982			1,793
Printing, stationery and supplies		1,939			1,364
Amortization of intangible assets		352			618
Advertising, meals and public relations		6,966			6,028
Operational and other losses		4,800			3,741
Software amortization and expense		16,496			13,523
Other noninterest expense		30,096			27,633
Total noninterest expense	$	293,391		$	265,063
TAX EQUIVALENT YIELD ADJUSTMENT	$	12,741		$	10,446
FIRST FINANCIAL BANKSHARES, INC.
SELECTED FINANCIAL DATA (UNAUDITED)
(In thousands)
	Three Months Ended												Three Months Ended
	Dec. 31, 2025												Sept. 30, 2025
		Average			Tax Equivalent			Yield /						Average			Tax Equivalent			Yield /
		Balance			Interest			Rate						Balance			Interest			Rate
Interest-earning assets:
Federal funds sold	$	6,565		$	62			3.75	%				$	10,711		$	130			4.82	%
Interest-bearing demand deposits in nonaffiliated banks		434,445			4,284			3.91						216,739			2,387			4.37
Taxable securities		3,683,108			29,231			3.17						3,560,347			26,539			2.98
Tax-exempt securities		1,712,261			14,144			3.30						1,564,767			12,906			3.30
Loans		8,241,265			138,857			6.68						8,249,113			141,136			6.79
Total interest-earning assets		14,077,644		$	186,578			5.26	%					13,601,677		$	183,098			5.34	%
Noninterest-earning assets		893,739												826,660
Total assets	$	14,971,383											$	14,428,337
Interest-bearing liabilities:
Deposits	$	9,476,716		$	51,207			2.14	%				$	9,051,463		$	52,010			2.28	%
Repurchase Agreements		56,573			219			1.54						50,051			210			1.66
Borrowings		22,113			75			1.35						56,198			471			3.33
Total interest-bearing liabilities		9,555,402		$	51,501			2.14	%					9,157,712		$	52,691			2.28	%
Noninterest-bearing deposits		3,454,171												3,419,378
Other noninterest-bearing liabilities		99,623												101,268
Shareholders' equity		1,862,187												1,749,979
Total liabilities and shareholders' equity	$	14,971,383											$	14,428,337
Net interest income and margin (tax equivalent)				$	135,077			3.81	%							$	130,407			3.80	%
	Three Months Ended												Three Months Ended
	June 30, 2025												Mar. 31, 2025
		Average			Tax Equivalent			Yield /						Average			Tax Equivalent			Yield /
		Balance			Interest			Rate						Balance			Interest			Rate
Interest-earning assets:
Federal funds sold	$	9,397		$	113			4.84	%				$	7,596		$	90			4.81	%
Interest-bearing demand deposits in nonaffiliated banks		379,364			4,191			4.43						286,040			3,174			4.50
Taxable securities		3,470,028			25,242			2.91						3,506,035			25,034			2.86
Tax-exempt securities		1,433,498			10,811			3.02						1,407,440			9,912			2.82
Loans		8,045,340			135,378			6.75						7,952,946			131,600			6.71
Total interest-earning assets		13,337,627		$	175,735			5.28	%					13,160,057		$	169,810			5.23	%
Noninterest-earning assets		826,635												830,055
Total assets	$	14,164,262											$	13,990,112
Interest-bearing liabilities:
Deposits	$	8,923,737		$	48,730			2.19	%				$	8,882,040		$	47,549			2.17	%
Repurchase Agreements		54,482			221			1.63						53,920			209			1.57
Borrowings		26,557			128			1.93						74,561			563			3.06
Total interest-bearing liabilities		9,004,776		$	49,079			2.19	%					9,010,521		$	48,321			2.17	%
Noninterest-bearing deposits		3,383,851												3,265,838
Other noninterest-bearing liabilities		85,745												68,218
Shareholders' equity		1,689,890												1,645,535
Total liabilities and shareholders' equity	$	14,164,262											$	13,990,112
Net interest income and margin (tax equivalent)				$	126,656			3.81	%							$	121,489			3.74	%
	Three Months Ended
	Dec. 31, 2024
		Average			Tax Equivalent			Yield /
		Balance			Interest			Rate
Interest-earning assets:
Federal funds sold	$	1,895		$	23			4.90	%
Interest-bearing demand deposits in nonaffiliated banks		308,118			3,578			4.62
Taxable securities		3,320,754			21,896			2.64
Tax-exempt securities		1,425,934			9,858			2.77
Loans		7,806,860			133,110			6.78
Total interest-earning assets		12,863,561		$	168,465			5.21	%
Noninterest-earning assets		824,757
Total assets	$	13,688,318
Interest-bearing liabilities:
Deposits	$	8,523,405		$	49,139			2.29	%
Repurchase Agreements		63,350			271			1.70
Borrowings		39,709			265			2.65
Total interest-bearing liabilities		8,626,464		$	49,675			2.29	%
Noninterest-bearing deposits		3,348,062
Other noninterest-bearing liabilities		79,271
Shareholders' equity		1,634,521
Total liabilities and shareholders' equity	$	13,688,318
Net interest income and margin (tax equivalent)				$	118,790			3.67	%
	Year Ended												Year Ended
	Dec. 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	$	8,566		$	395			4.61	%				$	3,464		$	197			5.70	%
Interest-bearing deposits in nonaffiliated banks		329,388			14,035			4.26						253,393			13,242			5.23
Taxable securities		3,555,356			106,046			2.98						3,289,683			81,626			2.48
Tax exempt securities		1,530,433			47,773			3.12						1,420,846			39,124			2.75
Loans		8,123,368			546,972			6.73						7,516,352			505,176			6.72
Total interest-earning assets		13,547,111		$	715,221			5.28	%					12,483,738		$	639,365			5.12	%
Noninterest-earning assets		845,451												840,674
Total assets	$	14,392,562											$	13,324,412
Interest-bearing liabilities:
Deposits	$	9,085,018		$	199,496			2.20	%				$	8,166,855		$	194,801			2.39	%
Repurchase Agreements		53,752			860			1.60						173,068			5,468			3.16
Borrowings		44,751			1,236			2.76						54,943			1,909			3.47
Total interest-bearing liabilities		9,183,521		$	201,592			2.20	%					8,394,866		$	202,178			2.41	%
Noninterest-bearing deposits		3,381,632												3,316,040
Other noninterest-bearing liabilities		88,794												73,559
Shareholders' equity		1,738,615												1,539,947
Total liabilities and shareholders' equity	$	14,392,562											$	13,324,412
Net interest income and margin (tax equivalent)				$	513,629			3.79	%							$	437,187			3.50	%

 

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SOURCE First Financial Bankshares, Inc.

FAQ

What were First Financial (FFIN) Q4 2025 earnings and EPS?

FFIN reported Q4 2025 net income of $73.31M and diluted EPS of $0.51.

How did First Financial (FFIN) perform for the full year 2025?

Full-year 2025 net income was $253.58M, or $1.77 per diluted share, up 13.45% year-over-year.

What happened to First Financial's (FFIN) loan and deposit balances at year-end 2025?

Loans were $8.16B and deposits plus repurchase agreements were $13.41B at December 31, 2025.

Did First Financial (FFIN) report any credit reserve or loss provisioning changes in 2025?

Yes. The company recorded a $28.61M provision for credit losses for the year ended December 31, 2025, up from $13.82M in 2024.

What was First Financial's (FFIN) net interest margin and net interest income in Q4 2025?

Q4 2025 net interest income was $131.37M and the tax-equivalent net interest margin was 3.81%.

How did operating costs affect First Financial (FFIN) in Q4 2025?

Q4 noninterest expense rose to $77.65M, largely from higher salary, commission and software-related costs.