FIRST FINANCIAL BANKSHARES ANNOUNCES SECOND QUARTER 2025 EARNINGS
First Financial Bankshares (NASDAQ: FFIN) reported strong Q2 2025 earnings of $66.66 million, a 27% increase from Q2 2024's $52.49 million. Earnings per share reached $0.47, up from $0.37 in Q2 2024.
The bank's net interest income grew to $123.73 million, with net interest margin improving to 3.81%. Total assets reached $14.38 billion, with loans at $8.07 billion and deposits at $12.50 billion. Credit quality remained stable with nonperforming assets at 0.79% of loans.
Notable improvements include increased trust fee income to $12.75 million, managing trust assets of $11.46 billion, and improved efficiency ratio to 44.97%. The bank maintains a positive outlook, focusing on improving investment yields and continuing loan and deposit growth.
First Financial Bankshares (NASDAQ: FFIN) ha riportato solidi risultati nel secondo trimestre del 2025 con un utile di 66,66 milioni di dollari, in aumento del 27% rispetto ai 52,49 milioni del secondo trimestre 2024. L'utile per azione è salito a 0,47 dollari, rispetto a 0,37 dollari nello stesso periodo dell'anno precedente.
Il reddito netto da interessi della banca è cresciuto fino a 123,73 milioni di dollari, con un miglioramento del margine di interesse netto al 3,81%. Gli asset totali hanno raggiunto i 14,38 miliardi di dollari, con prestiti per 8,07 miliardi e depositi per 12,50 miliardi. La qualità del credito è rimasta stabile, con attività non performanti pari allo 0,79% dei prestiti.
Tra i miglioramenti significativi si segnala l'aumento delle commissioni da trust a 12,75 milioni di dollari, la gestione di asset in trust per 11,46 miliardi e un miglioramento del rapporto di efficienza al 44,97%. La banca mantiene una prospettiva positiva, concentrandosi sul miglioramento dei rendimenti degli investimenti e sulla continua crescita di prestiti e depositi.
First Financial Bankshares (NASDAQ: FFIN) reportó sólidos resultados en el segundo trimestre de 2025 con ganancias de 66,66 millones de dólares, un aumento del 27% respecto a los 52,49 millones del segundo trimestre de 2024. Las ganancias por acción alcanzaron 0,47 dólares, frente a 0,37 dólares en el mismo periodo del año anterior.
Los ingresos netos por intereses del banco crecieron hasta 123,73 millones de dólares, con un margen neto de interés mejorado al 3,81%. Los activos totales alcanzaron los 14,38 mil millones de dólares, con préstamos por 8,07 mil millones y depósitos por 12,50 mil millones. La calidad crediticia se mantuvo estable, con activos no productivos en 0,79% de los préstamos.
Entre las mejoras destacadas se incluye un aumento en los ingresos por comisiones fiduciarias a 12,75 millones de dólares, gestión de activos fiduciarios por 11,46 mil millones y una mejora en la ratio de eficiencia al 44,97%. El banco mantiene una perspectiva positiva, enfocándose en mejorar los rendimientos de inversión y continuar el crecimiento de préstamos y depósitos.
First Financial Bankshares (NASDAQ: FFIN)는 2025년 2분기에 6,666만 달러의 강력한 실적을 보고했으며, 이는 2024년 2분기의 5,249만 달러에서 27% 증가한 수치입니다. 주당 순이익은 0.47달러로, 2024년 2분기의 0.37달러에서 상승했습니다.
은행의 순이자수익은 1억 2,373만 달러로 증가했으며, 순이자마진은 3.81%로 개선되었습니다. 총 자산은 143억 8천만 달러에 달하며, 대출금은 80억 7천만 달러, 예금은 125억 달러입니다. 신용 품질은 안정적이며, 부실 자산 비율은 대출의 0.79%입니다.
주목할 만한 개선 사항으로는 수탁 수수료 수입이 1,275만 달러로 증가했고, 수탁 자산은 114억 6천만 달러를 관리하며, 효율성 비율이 44.97%로 향상된 점이 있습니다. 은행은 투자 수익률 향상과 대출 및 예금 성장 지속에 중점을 두며 긍정적인 전망을 유지하고 있습니다.
First Financial Bankshares (NASDAQ : FFIN) a annoncé des résultats solides pour le deuxième trimestre 2025 avec un bénéfice de 66,66 millions de dollars, soit une augmentation de 27 % par rapport aux 52,49 millions du deuxième trimestre 2024. Le bénéfice par action a atteint 0,47 dollar, contre 0,37 dollar au deuxième trimestre 2024.
Les revenus nets d’intérêts de la banque ont augmenté pour atteindre 123,73 millions de dollars, avec une amélioration de la marge nette d’intérêts à 3,81 %. Les actifs totaux ont atteint 14,38 milliards de dollars, avec des prêts à 8,07 milliards et des dépôts à 12,50 milliards. La qualité du crédit est restée stable, les actifs non performants représentant 0,79 % des prêts.
Parmi les améliorations notables, on compte une augmentation des revenus de frais de fiducie à 12,75 millions de dollars, la gestion d’actifs en fiducie de 11,46 milliards et une amélioration du ratio d’efficacité à 44,97 %. La banque maintient une perspective positive, en se concentrant sur l’amélioration des rendements des investissements et la poursuite de la croissance des prêts et des dépôts.
First Financial Bankshares (NASDAQ: FFIN) meldete starke Ergebnisse für das zweite Quartal 2025 mit einem Gewinn von 66,66 Millionen US-Dollar, was einem Anstieg von 27 % gegenüber 52,49 Millionen US-Dollar im zweiten Quartal 2024 entspricht. Der Gewinn je Aktie stieg auf 0,47 US-Dollar gegenüber 0,37 US-Dollar im zweiten Quartal 2024.
Das Nettozinsergebnis der Bank wuchs auf 123,73 Millionen US-Dollar, mit einer Verbesserung der Nettozinsmarge auf 3,81 %. Die Gesamtaktiva erreichten 14,38 Milliarden US-Dollar, mit Krediten in Höhe von 8,07 Milliarden und Einlagen in Höhe von 12,50 Milliarden. Die Kreditqualität blieb stabil, wobei notleidende Vermögenswerte 0,79 % der Kredite ausmachten.
Bemerkenswerte Verbesserungen umfassen einen Anstieg der Treuhandgebühren auf 12,75 Millionen US-Dollar, die Verwaltung von Treuhandvermögen in Höhe von 11,46 Milliarden sowie eine verbesserte Effizienzquote von 44,97 %. Die Bank bleibt optimistisch und konzentriert sich darauf, die Renditen aus Investitionen zu verbessern sowie das Wachstum bei Krediten und Einlagen fortzusetzen.
- Net income increased 27% year-over-year to $66.66 million
- Net interest margin improved to 3.81% from 3.48% year-over-year
- Efficiency ratio improved to 44.97% from 47.41% year-over-year
- Trust assets grew to $11.46 billion from $10.24 billion year-over-year
- Loan growth of 6.53% annualized in Q2 2025
- Deposits grew 5.57% annualized year-to-date
- Net charge-offs increased to $720,000 from $302,000 year-over-year
- Classified loans increased to $257.07 million from $219.26 million year-over-year
- Noninterest expenses rose to $71.74 million from $65.01 million year-over-year
- Unrealized losses on securities portfolio of $373.46 million
Insights
FFIN reports strong Q2 2025 with 27% earnings growth YoY, improved margins, and healthy loan/deposit growth despite rising nonperforming assets.
First Financial Bankshares delivered impressive Q2 2025 results with earnings of
The bank's performance was driven by three key factors. First, net interest margin expanded to
The bank's efficiency ratio improved to
While credit quality remains manageable, there are some subtle warning signs. Nonperforming assets as a percentage of loans were
The bank's trust business continues to be a bright spot, with trust fee income rising to
Overall, FFIN is executing well in a challenging banking environment, with growth across key metrics and improved profitability while maintaining adequate credit reserves.
"Our second quarter results are positive with earnings growth of over 27 percent from the second quarter last year resulting from our healthy loan and deposit growth, improved margin and increased trust revenue," said F. Scott Dueser, Chairman and CEO of First Financial Bankshares, Inc. "Our outlook for the remainder of the year is good as we have opportunities to improve our investment yields, continue loan growth and focus on growing deposits in our markets. I am very appreciative of the work our teams are doing to support these results."
Net interest income for the second quarter of 2025 was
The Company recorded a provision for credit losses of
For the second quarter of 2025, net charge-offs totaled
Noninterest income for the second quarter of 2025 was
- Trust fee income increased to
$12.75 million $11.71 million $11.46 billion $10.24 billion - Mortgage income increased to
$4.13 million $3.69 million - Other noninterest income decreased
$499 thousand $2.93 million $3.43 million $723 thousand
Noninterest expense for the second quarter of 2025 totaled
- Salary, commissions, and employee benefit costs increased to
$42.58 million $37.47 million $838 thousand $519 thousand $452 thousand - Noninterest expenses, excluding salary related costs, increased
$1.62 million
The Company's efficiency ratio was 44.97 percent for the second quarter of 2025 compared to 47.41 percent for the second quarter of 2024 largely due to the increase in net interest income.
As of June 30, 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 and the pandemic, 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 | June 30, | Mar. 31, | Dec. 31, | Sept. 30, | June 30, | |||||||||||
Cash and due from banks | $ | 264,000 | $ | 232,943 | $ | 259,996 | $ | 296,188 | $ | 263,262 | ||||||
Interest-bearing demand deposits in banks | 435,612 | 682,362 | 503,417 | 287,476 | 103,315 | |||||||||||
Federal funds sold | 8,750 | 11,750 | - | - | 2,800 | |||||||||||
Investment securities | 4,886,548 | 4,760,431 | 4,617,759 | 4,612,299 | 4,573,024 | |||||||||||
Loans, held-for-investment | 8,074,944 | 7,945,611 | 7,913,098 | 7,723,191 | 7,519,733 | |||||||||||
Allowance for credit losses | (102,792) | (101,080) | (98,325) | (99,936) | (95,170) | |||||||||||
Net loans, held-for-investment | 7,972,152 | 7,844,531 | 7,814,773 | 7,623,255 | 7,424,563 | |||||||||||
Loans, held-for-sale | 33,233 | 14,348 | 8,235 | 20,114 | 19,668 | |||||||||||
Premises and equipment, net | 148,999 | 150,589 | 151,904 | 151,204 | 153,075 | |||||||||||
Goodwill | 313,481 | 313,481 | 313,481 | 313,481 | 313,481 | |||||||||||
Other intangible assets | 343 | 428 | 523 | 671 | 828 | |||||||||||
Other assets | 313,723 | 301,251 | 309,330 | 278,244 | 310,059 | |||||||||||
Total assets | $ | 14,376,841 | $ | 14,312,114 | $ | 13,979,418 | $ | 13,582,932 | $ | 13,164,075 | ||||||
LIABILITIES AND SHAREHOLDERS' EQUITY | ||||||||||||||||
Noninterest-bearing deposits | $ | 3,439,059 | $ | 3,356,553 | $ | 3,348,041 | $ | 3,303,143 | $ | 3,289,032 | ||||||
Interest-bearing deposits | 9,009,357 | 9,110,218 | 8,751,133 | 8,452,718 | 8,120,125 | |||||||||||
Total deposits | 12,448,416 | 12,466,771 | 12,099,174 | 11,755,861 | 11,409,157 | |||||||||||
Repurchase agreements | 48,026 | 56,606 | 61,416 | 57,557 | 138,950 | |||||||||||
Borrowings | 22,153 | 26,978 | 135,603 | 25,978 | 23,703 | |||||||||||
Trade date payable | 24,965 | - | - | 5,416 | - | |||||||||||
Other liabilities | 95,929 | 81,498 | 76,665 | 75,929 | 73,239 | |||||||||||
Shareholders' equity | 1,737,352 | 1,680,261 | 1,606,560 | 1,662,191 | 1,519,026 | |||||||||||
Total liabilities and shareholders' equity | $ | 14,376,841 | $ | 14,312,114 | $ | 13,979,418 | $ | 13,582,932 | $ | 13,164,075 | ||||||
Quarter Ended | ||||||||||||||||
2025 | 2024 | |||||||||||||||
INCOME STATEMENTS | June 30, | Mar. 31, | Dec. 31, | Sept. 30, | June 30, | |||||||||||
Interest income | $ | 172,810 | $ | 167,110 | $ | 165,792 | $ | 159,958 | $ | 153,673 | ||||||
Interest expense | 49,080 | 48,321 | 49,675 | 52,849 | 50,400 | |||||||||||
Net interest income | 123,730 | 118,789 | 116,117 | 107,109 | 103,273 | |||||||||||
Provision for credit losses | 3,132 | 3,528 | 1,003 | 6,123 | 5,888 | |||||||||||
Net interest income after provision for credit losses | 120,598 | 115,261 | 115,114 | 100,986 | 97,385 | |||||||||||
Noninterest income | 32,873 | 30,230 | 30,977 | 32,362 | 31,268 | |||||||||||
Noninterest expense | 71,735 | 70,335 | 70,099 | 66,012 | 65,012 | |||||||||||
Net income before income taxes | 81,736 | 75,156 | 75,992 | 67,336 | 63,641 | |||||||||||
Income tax expense | 15,078 | 13,810 | 13,671 | 12,028 | 11,156 | |||||||||||
Net income | $ | 66,658 | $ | 61,346 | $ | 62,321 | $ | 55,308 | $ | 52,485 | ||||||
PER COMMON SHARE DATA | ||||||||||||||||
Net income - basic | $ | 0.47 | $ | 0.43 | $ | 0.44 | $ | 0.39 | $ | 0.37 | ||||||
Net income - diluted | 0.47 | 0.43 | 0.43 | 0.39 | 0.37 | |||||||||||
Cash dividends declared | 0.19 | 0.18 | 0.18 | 0.18 | 0.18 | |||||||||||
Book value | 12.14 | 11.75 | 11.24 | 11.63 | 10.63 | |||||||||||
Tangible book value | 9.95 | 9.55 | 9.04 | 9.43 | 8.43 | |||||||||||
Market value | 35.98 | 35.92 | 36.05 | 37.01 | 29.53 | |||||||||||
Shares outstanding - end of period | 143,077,619 | 143,019,433 | 142,944,704 | 142,906,070 | 142,848,909 | |||||||||||
Average outstanding shares - basic | 143,023,544 | 142,949,514 | 142,898,110 | 142,853,215 | 142,814,363 | |||||||||||
Average outstanding shares - diluted | 142,378,505 | 143,355,148 | 143,352,067 | 143,188,857 | 143,088,930 | |||||||||||
PERFORMANCE RATIOS | ||||||||||||||||
Return on average assets | 1.89 | % | 1.78 | % | 1.81 | % | 1.66 | % | 1.61 | % | ||||||
Return on average equity | 15.82 | 15.12 | 15.17 | 14.00 | 14.43 | |||||||||||
Return on average tangible equity | 19.43 | 18.68 | 18.78 | 17.49 | 18.38 | |||||||||||
Net interest margin (tax equivalent) | 3.81 | 3.74 | 3.67 | 3.50 | 3.48 | |||||||||||
Efficiency ratio | 44.97 | 46.36 | 46.81 | 46.45 | 47.41 | |||||||||||
Six Months Ended | ||||||||||||||||
June 30, | ||||||||||||||||
INCOME STATEMENTS | 2025 | 2024 | ||||||||||||||
Interest income | $ | 339,920 | $ | 303,167 | ||||||||||||
Interest expense | 97,401 | 99,653 | ||||||||||||||
Net interest income | 242,519 | 203,514 | ||||||||||||||
Provision for credit losses | 6,660 | 6,695 | ||||||||||||||
Net interest income after provisions for credit losses | 235,859 | 196,819 | ||||||||||||||
Noninterest income | 63,103 | 60,651 | ||||||||||||||
Noninterest expense | 142,070 | 128,952 | ||||||||||||||
Net income before income taxes | 156,892 | 128,518 | ||||||||||||||
Income tax expense | 28,888 | 22,636 | ||||||||||||||
Net income | $ | 128,004 | $ | 105,882 | ||||||||||||
PER COMMON SHARE DATA | ||||||||||||||||
Net income - basic | $ | 0.90 | $ | 0.74 | ||||||||||||
Net income - diluted | 0.89 | 0.74 | ||||||||||||||
Cash dividends declared | 0.37 | 0.36 | ||||||||||||||
Book value | 12.14 | 10.63 | ||||||||||||||
Tangible book value | 9.95 | 8.43 | ||||||||||||||
Market value | $ | 35.98 | $ | 29.53 | ||||||||||||
Shares outstanding - end of period | 143,077,619 | 142,848,909 | ||||||||||||||
Average outstanding shares - basic | 142,986,734 | 142,769,518 | ||||||||||||||
Average outstanding shares - diluted | 143,378,720 | 143,067,193 | ||||||||||||||
PERFORMANCE RATIOS | ||||||||||||||||
Return on average assets | 1.83 | % | 1.62 | % | ||||||||||||
Return on average equity | 15.48 | 14.43 | ||||||||||||||
Return on average tangible equity | 19.07 | 18.33 | ||||||||||||||
Net interest margin (tax equivalent) | 3.78 | 3.41 | ||||||||||||||
Efficiency ratio | 45.65 | 47.88 | ||||||||||||||
FIRST FINANCIAL BANKSHARES, INC. | ||||||||||||||||
SELECTED FINANCIAL DATA (UNAUDITED) | ||||||||||||||||
(In thousands) | ||||||||||||||||
Quarter Ended | ||||||||||||||||
2025 | 2024 | |||||||||||||||
ALLOWANCE FOR LOAN LOSSES | June 30, | Mar. 31, | Dec. 31, | Sept. 30, | June 30, | |||||||||||
Balance at beginning of period | $ | 101,080 | $ | 98,325 | $ | 99,936 | $ | 95,170 | $ | 89,562 | ||||||
Loans charged-off | (1,189) | (946) | (2,184) | (1,279) | (702) | |||||||||||
Loan recoveries | 469 | 710 | 243 | 493 | 400 | |||||||||||
Net recoveries (charge-offs) | (720) | (236) | (1,941) | (786) | (302) | |||||||||||
Provision for loan losses | 2,432 | 2,991 | 330 | 5,552 | 5,910 | |||||||||||
Balance at end of period | $ | 102,792 | $ | 101,080 | $ | 98,325 | $ | 99,936 | $ | 95,170 | ||||||
ALLOWANCE FOR UNFUNDED COMMITMENTS | ||||||||||||||||
Balance at beginning of period | $ | 9,214 | $ | 8,677 | $ | 8,004 | $ | 7,433 | $ | 7,455 | ||||||
Provision for unfunded commitments | 700 | 537 | 673 | 571 | (22) | |||||||||||
Balance at end of period | $ | 9,914 | $ | 9,214 | $ | 8,677 | $ | 8,004 | $ | 7,433 | ||||||
Allowance for loan losses / | ||||||||||||||||
period-end loans held-for-investment | 1.27 | % | 1.27 | % | 1.24 | % | 1.29 | % | 1.27 | % | ||||||
Allowance for loan losses / | ||||||||||||||||
nonperforming loans | 162.60 | 164.16 | 158.02 | 156.44 | 157.20 | |||||||||||
Net charge-offs (recoveries) / average total loans | ||||||||||||||||
(annualized) | 0.04 | 0.01 | 0.10 | 0.04 | 0.02 | |||||||||||
As of | ||||||||||||||||
2025 | 2024 | |||||||||||||||
COMPOSITION OF LOANS HELD-FOR-INVESTMENT | June 30, | Mar. 31, | Dec. 31, | Sept. 30, | June 30, | |||||||||||
Commercial: | ||||||||||||||||
C&I | $ | 1,202,151 | $ | 1,144,429 | $ | 1,176,993 | $ | 1,175,774 | $ | 1,141,990 | ||||||
Municipal | 306,140 | 338,303 | 369,246 | 333,732 | 359,124 | |||||||||||
Total Commercial | 1,508,291 | 1,482,732 | 1,546,239 | 1,509,506 | 1,501,114 | |||||||||||
Agricultural | 86,133 | 90,186 | 95,543 | 83,269 | 86,186 | |||||||||||
Real Estate: | ||||||||||||||||
Construction & Development | 1,172,834 | 1,098,069 | 1,054,603 | 1,013,810 | 986,394 | |||||||||||
Farm | 302,969 | 331,464 | 339,665 | 315,720 | 318,597 | |||||||||||
Non-Owner Occupied CRE | 746,341 | 753,898 | 805,566 | 825,928 | 815,713 | |||||||||||
Owner Occupied CRE | 1,124,610 | 1,142,618 | 1,083,100 | 1,086,750 | 1,049,715 | |||||||||||
Residential | 2,286,220 | 2,217,740 | 2,196,767 | 2,112,196 | 1,990,604 | |||||||||||
Total Real Estate | 5,632,974 | 5,543,789 | 5,479,701 | 5,354,404 | 5,161,023 | |||||||||||
Consumer: | ||||||||||||||||
Auto | 698,897 | 679,189 | 638,560 | 618,103 | 615,192 | |||||||||||
Non-Auto | 148,649 | 149,715 | 153,055 | 157,909 | 156,218 | |||||||||||
Total Consumer | 847,546 | 828,904 | 791,615 | 776,012 | 771,410 | |||||||||||
Total loans held-for-investment | $ | 8,074,944 | $ | 7,945,611 | $ | 7,913,098 | $ | 7,723,191 | $ | 7,519,733 | ||||||
SUMMARY OF LOAN CLASSIFICATION | ||||||||||||||||
Special Mention | $ | 62,774 | $ | 46,103 | $ | 42,563 | $ | 41,362 | $ | 57,864 | ||||||
Substandard | 194,291 | 199,509 | 191,288 | 188,561 | 161,399 | |||||||||||
Doubtful | - | - | - | - | - | |||||||||||
Total classified loans | $ | 257,065 | $ | 245,612 | $ | 233,851 | $ | 229,923 | $ | 219,263 | ||||||
NONPERFORMING ASSETS | ||||||||||||||||
Nonaccrual loans | $ | 63,142 | $ | 60,430 | $ | 61,938 | $ | 63,378 | $ | 60,311 | ||||||
Accruing loans 90 days past due | 77 | 1,143 | 287 | 504 | 231 | |||||||||||
Total nonperforming loans | 63,219 | 61,573 | 62,225 | 63,882 | 60,542 | |||||||||||
Foreclosed assets | 489 | 115 | 871 | 535 | 647 | |||||||||||
Total nonperforming assets | $ | 63,708 | $ | 61,688 | $ | 63,096 | $ | 64,417 | $ | 61,189 | ||||||
As a % of loans held-for-investment and foreclosed assets | 0.79 | % | 0.78 | % | 0.80 | % | 0.83 | % | 0.81 | % | ||||||
As a % of end of period total assets | 0.44 | 0.43 | 0.45 | 0.47 | 0.46 | |||||||||||
Quarter Ended | ||||||||||||||||
2025 | 2024 | |||||||||||||||
CAPITAL RATIOS | June 30, | Mar. 31, | Dec. 31, | Sept. 30, | June 30, | |||||||||||
Common equity Tier 1 capital ratio | 19.16 | % | 19.12 | % | 18.83 | % | 18.83 | % | 18.42 | % | ||||||
Tier 1 capital ratio | 19.16 | 19.12 | 18.83 | 18.83 | 18.42 | |||||||||||
Total capital ratio | 20.35 | 20.31 | 20.00 | 20.03 | 19.55 | |||||||||||
Tier 1 leverage ratio | 12.61 | 12.46 | 12.49 | 12.53 | 12.40 | |||||||||||
Tangible common equity ratio | 10.12 | 9.76 | 9.46 | 10.16 | 9.38 | |||||||||||
Equity/Assets ratio | 12.08 | 11.74 | 11.49 | 12.24 | 11.54 | |||||||||||
Quarter Ended | ||||||||||||||||
2025 | 2024 | |||||||||||||||
NONINTEREST INCOME | June 30, | Mar. 31, | Dec. 31, | Sept. 30, | June 30, | |||||||||||
Trust fees | $ | 12,746 | $ | 12,653 | $ | 12,662 | $ | 11,694 | $ | 11,714 | ||||||
Service charges on deposits | 6,126 | 6,177 | 6,306 | 6,428 | 6,009 | |||||||||||
Debit card fees | 5,218 | 4,967 | 5,506 | 5,528 | 5,145 | |||||||||||
Credit card fees | 707 | 577 | 617 | 617 | 672 | |||||||||||
Gain on sale and fees on mortgage loans | 4,126 | 2,832 | 3,009 | 3,359 | 3,687 | |||||||||||
Net gain (loss) on sale of available-for-sale securities | - | - | - | - | - | |||||||||||
Net gain (loss) on sale of foreclosed assets | 200 | (35) | 36 | (30) | (58) | |||||||||||
Net gain (loss) on sale of assets | 6 | - | 214 | 267 | 2 | |||||||||||
Loan recoveries | 810 | 574 | 433 | 1,359 | 664 | |||||||||||
Other noninterest income | 2,934 | 2,485 | 2,194 | 3,140 | 3,433 | |||||||||||
Total noninterest income | $ | 32,873 | $ | 30,230 | $ | 30,977 | $ | 32,362 | $ | 31,268 | ||||||
NONINTEREST EXPENSE | ||||||||||||||||
Salaries, commissions and employee benefits, excluding profit sharing | $ | 39,834 | $ | 39,157 | $ | 37,996 | $ | 35,262 | $ | 35,569 | ||||||
Profit sharing expense | 2,741 | 2,985 | 3,648 | 2,235 | 1,903 | |||||||||||
Net occupancy expense | 3,600 | 3,720 | 3,753 | 3,738 | 3,618 | |||||||||||
Equipment expense | 2,478 | 2,321 | 2,305 | 2,291 | 2,233 | |||||||||||
FDIC insurance premiums | 1,585 | 1,575 | 1,511 | 1,514 | 1,508 | |||||||||||
Debit card expense | 3,308 | 3,373 | 3,220 | 3,248 | 3,242 | |||||||||||
Legal, tax and professional fees | 3,143 | 3,067 | 3,751 | 3,865 | 3,809 | |||||||||||
Audit fees | 463 | 451 | 423 | 582 | 453 | |||||||||||
Printing, stationery and supplies | 473 | 482 | 293 | 199 | 425 | |||||||||||
Amortization of intangible assets | 86 | 95 | 147 | 157 | 157 | |||||||||||
Advertising, meals and public relations | 1,653 | 1,677 | 1,642 | 1,466 | 1,466 | |||||||||||
Operational and other losses | 720 | 540 | 863 | 955 | 769 | |||||||||||
Software amortization and expense | 4,020 | 3,732 | 3,648 | 3,712 | 3,158 | |||||||||||
Other noninterest expense | 7,631 | 7,160 | 6,899 | 6,788 | 6,702 | |||||||||||
Total noninterest expense | $ | 71,735 | $ | 70,335 | $ | 70,099 | $ | 66,012 | $ | 65,012 | ||||||
TAX EQUIVALENT YIELD ADJUSTMENT | $ | 2,926 | $ | 2,700 | $ | 2,673 | $ | 2,628 | $ | 2,572 | ||||||
Six Months Ended | ||||||||||||||||
June 30, | ||||||||||||||||
NONINTEREST INCOME | 2025 | 2024 | ||||||||||||||
Trust fees | $ | 25,399 | $ | 23,093 | ||||||||||||
Service charges on deposits | 12,302 | 12,255 | ||||||||||||||
Debit card fees | 10,185 | 10,036 | ||||||||||||||
Credit card fees | 1,284 | 1,303 | ||||||||||||||
Gain on sale and fees on mortgage loans | 6,958 | 6,815 | ||||||||||||||
Net gain on sale of available-for-sale securities | - | - | ||||||||||||||
Net gain on sale of foreclosed assets | 165 | (58) | ||||||||||||||
Net gain (loss) on sale of assets | 6 | 2 | ||||||||||||||
Interest on loan recoveries | 1,384 | 1,219 | ||||||||||||||
Other noninterest income | 5,420 | 5,986 | ||||||||||||||
Total noninterest income | $ | 63,103 | $ | 60,651 | ||||||||||||
NONINTEREST EXPENSE | ||||||||||||||||
Salaries, commissions and employee benefits, excluding profit sharing | $ | 78,991 | $ | 70,572 | ||||||||||||
Profit sharing expense | 5,726 | 3,583 | ||||||||||||||
Net occupancy expense | 7,320 | 7,088 | ||||||||||||||
Equipment expense | 4,799 | 4,470 | ||||||||||||||
FDIC insurance premiums | 3,160 | 3,473 | ||||||||||||||
Debit card expense | 6,680 | 6,300 | ||||||||||||||
Legal, tax and professional fees | 6,209 | 6,543 | ||||||||||||||
Audit fees | 914 | 786 | ||||||||||||||
Printing, stationery and supplies | 955 | 872 | ||||||||||||||
Amortization of intangible assets | 181 | 314 | ||||||||||||||
Advertising, meals and public relations | 3,332 | 2,920 | ||||||||||||||
Operational and other losses | 1,260 | 1,923 | ||||||||||||||
Software amortization and expense | 7,753 | 6,163 | ||||||||||||||
Other noninterest expense | 14,790 | 13,945 | ||||||||||||||
Total noninterest expense | $ | 142,070 | $ | 128,952 | ||||||||||||
TAX EQUIVALENT YIELD ADJUSTMENT | $ | 5,626 | $ | 5,145 | ||||||||||||
FIRST FINANCIAL BANKSHARES, INC. | |||||||||||||||||||||
SELECTED FINANCIAL DATA (UNAUDITED) | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
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 | Three Months Ended | ||||||||||||||||||||
Dec. 31, 2024 | Sept. 30, 2024 | ||||||||||||||||||||
Average | Tax Equivalent | Yield / | Average | Tax Equivalent | Yield / | ||||||||||||||||
Balance | Interest | Rate | Balance | Interest | Rate | ||||||||||||||||
Interest-earning assets: | |||||||||||||||||||||
Federal funds sold | $ | 1,895 | $ | 23 | 4.90 | % | $ | 2,901 | $ | 43 | 5.84 | % | |||||||||
Interest-bearing demand deposits in nonaffiliated banks | 308,118 | 3,578 | 4.62 | 200,756 | 2,716 | 5.38 | |||||||||||||||
Taxable securities | 3,320,754 | 21,896 | 2.64 | 3,211,490 | 19,866 | 2.47 | |||||||||||||||
Tax-exempt securities | 1,425,934 | 9,858 | 2.77 | 1,418,214 | 9,742 | 2.75 | |||||||||||||||
Loans | 7,806,860 | 133,110 | 6.78 | 7,643,238 | 130,220 | 6.78 | |||||||||||||||
Total interest-earning assets | 12,863,561 | $ | 168,465 | 5.21 | % | 12,476,599 | $ | 162,587 | 5.18 | % | |||||||||||
Noninterest-earning assets | 824,757 | 817,757 | |||||||||||||||||||
Total assets | $ | 13,688,318 | $ | 13,294,356 | |||||||||||||||||
Interest-bearing liabilities: | |||||||||||||||||||||
Deposits | $ | 8,523,405 | $ | 49,139 | 2.29 | % | $ | 8,240,938 | $ | 51,994 | 2.51 | % | |||||||||
Repurchase Agreements | 63,350 | 271 | 1.70 | 100,892 | 740 | 2.92 | |||||||||||||||
Borrowings | 39,709 | 265 | 2.65 | 24,670 | 116 | 1.87 | |||||||||||||||
Total interest-bearing liabilities | 8,626,464 | $ | 49,675 | 2.29 | % | 8,366,500 | $ | 52,850 | 2.51 | % | |||||||||||
Noninterest-bearing deposits | 3,348,062 | 3,279,486 | |||||||||||||||||||
Other noninterest-bearing liabilities | 79,271 | 76,274 | |||||||||||||||||||
Shareholders' equity | 1,634,521 | 1,572,096 | |||||||||||||||||||
Total liabilities and shareholders' equity | $ | 13,688,318 | $ | 13,294,356 | |||||||||||||||||
Net interest income and margin (tax equivalent) | $ | 118,790 | 3.67 | % | $ | 109,737 | 3.50 | % | |||||||||||||
Three Months Ended | |||||||||||||||||||||
June 30, 2024 | |||||||||||||||||||||
Average | Tax Equivalent | Yield / | |||||||||||||||||||
Balance | Interest | Rate | |||||||||||||||||||
Interest-earning assets: | |||||||||||||||||||||
Federal funds sold | $ | 5,160 | $ | 74 | 5.81 | % | |||||||||||||||
Interest-bearing demand deposits in nonaffiliated banks | 159,707 | 2,292 | 5.77 | ||||||||||||||||||
Taxable securities | 3,250,684 | 19,912 | 2.45 | ||||||||||||||||||
Tax-exempt securities | 1,404,706 | 9,730 | 2.77 | ||||||||||||||||||
Loans | 7,405,297 | 124,237 | 6.75 | ||||||||||||||||||
Total interest-earning assets | 12,225,554 | $ | 156,245 | 5.14 | % | ||||||||||||||||
Noninterest-earning assets | 855,719 | ||||||||||||||||||||
Total assets | $ | 13,081,273 | |||||||||||||||||||
Interest-bearing liabilities: | |||||||||||||||||||||
Deposits | $ | 8,020,247 | $ | 48,414 | 2.43 | % | |||||||||||||||
Repurchase Agreements | 212,590 | 1,895 | 3.59 | ||||||||||||||||||
Borrowings | 22,932 | 91 | 1.60 | ||||||||||||||||||
Total interest-bearing liabilities | 8,255,769 | $ | 50,400 | 2.46 | % | ||||||||||||||||
Noninterest-bearing deposits | 3,289,906 | ||||||||||||||||||||
Other noninterest-bearing liabilities | 72,464 | ||||||||||||||||||||
Shareholders' equity | 1,463,134 | ||||||||||||||||||||
Total liabilities and shareholders' equity | $ | 13,081,273 | |||||||||||||||||||
Net interest income and margin (tax equivalent) | $ | 105,845 | 3.48 | % | |||||||||||||||||
Six Months Ended | Six Months Ended | ||||||||||||||||||||
June 30, 2025 | June 30, 2024 | ||||||||||||||||||||
Average | Tax Equivalent | Yield / | Average | Tax Equivalent | Yield / | ||||||||||||||||
Balance | Interest | Rate | Balance | Interest | Rate | ||||||||||||||||
Interest-earning assets: | |||||||||||||||||||||
Federal funds sold | $ | 8,501 | $ | 203 | 4.82 | % | $ | 4,541 | $ | 131 | 5.82 | % | |||||||||
Interest-bearing deposits in nonaffiliated banks | 332,960 | 7,365 | 4.46 | 252,338 | 6,948 | 5.54 | |||||||||||||||
Taxable securities | 3,487,932 | 50,277 | 2.88 | 3,313,504 | 39,864 | 2.41 | |||||||||||||||
Tax exempt securities | 1,420,541 | 20,723 | 2.92 | 1,419,606 | 19,524 | 2.75 | |||||||||||||||
Loans | 7,999,398 | 266,977 | 6.73 | 7,305,361 | 241,846 | 6.66 | |||||||||||||||
Total interest-earning assets | 13,249,332 | $ | 345,545 | 5.26 | % | 12,295,350 | $ | 308,313 | 5.04 | % | |||||||||||
Noninterest-earning assets | 828,336 | 860,302 | |||||||||||||||||||
Total assets | $ | 14,077,668 | $ | 13,155,652 | |||||||||||||||||
Interest-bearing liabilities: | |||||||||||||||||||||
Deposits | $ | 8,903,004 | $ | 96,280 | 2.18 | % | $ | 7,949,170 | $ | 93,666 | 2.37 | % | |||||||||
Repurchase Agreements | 54,203 | 430 | 1.60 | 265,014 | 4,457 | 3.38 | |||||||||||||||
Borrowings | 50,426 | 690 | 2.76 | 77,947 | 1,530 | 3.95 | |||||||||||||||
Total interest-bearing liabilities | 9,007,633 | $ | 97,400 | 2.18 | % | 8,292,131 | $ | 99,653 | 2.42 | % | |||||||||||
Noninterest-bearing deposits | 3,325,170 | 3,318,332 | |||||||||||||||||||
Other noninterest-bearing liabilities | 77,030 | 69,300 | |||||||||||||||||||
Shareholders' equity | 1,667,835 | 1,475,889 | |||||||||||||||||||
Total liabilities and shareholders' equity | $ | 14,077,668 | $ | 13,155,652 | |||||||||||||||||
Net interest income and margin (tax equivalent) | $ | 248,145 | 3.78 | % | $ | 208,660 | 3.41 | % | |||||||||||||
View original content:https://www.prnewswire.com/news-releases/first-financial-bankshares-announces-second-quarter-2025-earnings-302508276.html
SOURCE First Financial Bankshares, Inc.
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