First Financial Bankshares Stock Price, News & Analysis

First Financial Bank has achieved the prestigious third position in Forbes' America's Best Banks 2025 ranking. The recognition is based on the bank's exceptional financial performance across 11 key metrics measured over the 12 months ending September 30, 2024, and stock performance through January 10, 2025.

The evaluation criteria included important financial indicators such as net interest margin, return on average assets, CET1 ratio, efficiency ratio, and other important metrics related to growth, credit quality, and profitability. The ranking considered the 200 largest publicly traded banks and thrifts in the country, with all 10 financial metrics being equally weighted.

President David Bailey attributed this achievement to the team's dedication and their commitment to the bank's 21 Non-Negotiables focusing on customer service excellence.

First Financial Bank has promoted Chris Schjetnan to Executive Vice President, Director of Community Lending and Outreach. In this new role, Schjetnan will lead the bank's affordable banking initiatives focusing on traditionally underserved communities.

Schjetnan, who joined First Financial Bank in 2012 after working at Wells Fargo, has been instrumental in growing the bank's ITIN and Affordable Home Mortgage programs. Born and raised in Mexico City in a bilingual household, he previously served as Executive Vice President, Regional Consumer Lending Manager for the Bank's Chisholm Trail Region.

His background includes a bachelor's degree in business administration from Western New Mexico University and graduation from both the Southwestern Graduate School of Banking at SMU and the American Bankers Association Commercial Lending School.

First Financial Bankshares (FFIN) reported strong Q4 2024 earnings of $62.32 million, up from $55.31 million in Q3 2024 and $45.98 million in Q4 2023. Diluted EPS reached $0.43 in Q4 2024, compared to $0.39 in Q3 2024 and $0.32 in Q4 2023.

For the full year 2024, net income was $223.51 million ($1.56 per diluted share), a 12.33% increase from $198.98 million ($1.39 per diluted share) in 2023. Net interest income for Q4 2024 rose to $116.12 million, with net interest margin at 3.67%. The company's loan portfolio grew 10.69% year-over-year to $7.91 billion, while deposits increased 5.56% to $12.16 billion.

The allowance for credit losses stood at $98.33 million, representing 1.24% of loans. Nonperforming assets were 0.80% of loans and foreclosed assets as of December 31, 2024.

First Financial Bankshares (NASDAQ: FFIN) has announced several key leadership promotions effective January 1, 2025. Ron Butler has been promoted to Vice Chairman of the Executive Management Committee, while David Bailey becomes President of First Financial Bankshares and First Financial Bank. Lon Biebighauser has been elected President of First Financial Trust and Asset Management Company, replacing Kirk Thaxton who transitions to relationship manager. Marelyn Shedd becomes the first female CEO of the Abilene Region, and Marshall Morris has been elected as President of the Abilene Region. These changes are part of the company's ongoing management succession plan.

First Financial Bankshares (NASDAQ: FFIN) reported earnings of $55.31 million for the third quarter of 2024, up from $52.49 million in Q2 2024 and $49.56 million in Q3 2023. Diluted earnings per share were $0.39, compared to $0.37 in Q2 2024 and $0.35 in Q3 2023. Net interest income increased to $107.11 million, up from $103.27 million in Q2 2024 and $94.15 million in Q3 2023. The net interest margin improved to 3.50%. The company recorded a provision for credit losses of $6.12 million. Noninterest income rose to $32.36 million, while noninterest expense increased to $66.01 million. The efficiency ratio improved to 46.45%. Total assets grew to $13.58 billion, with loans totaling $7.72 billion and deposits and repurchase agreements at $11.81 billion. Shareholders' equity increased to $1.66 billion.

First Financial Bank, a subsidiary of First Financial Bankshares, Inc. (NASDAQ: FFIN), conducted its ninth annual company-wide Day of Service on October 14, 2024. The event involved over 1,000 employees from 79 statewide branches partnering with 63 local non-profit and community organizations across Texas to perform service projects.

F. Scott Dueser, Chairman, President and CEO of First Financial, emphasized the importance of community partnerships and giving back. The Day of Service is part of the company's commitment to making a positive impact in its communities. More information about the event can be found on the company's website and social media channels.

First Financial Bankshares (NASDAQ: FFIN) has elected Brian D. Goodrich as Executive Vice President and General Counsel, marking the company's first-ever General Counsel appointment. Goodrich brings extensive banking, legal, and regulatory expertise from his previous roles, including his most recent position as First Senior Vice President and Deputy General Counsel at MidFirst Bank, a $38 billion privately held bank in Oklahoma City.

F. Scott Dueser, Chairman, President, and CEO of First Financial Bankshares, expressed confidence that Goodrich's experience will be instrumental in the company's continued growth. Goodrich's background includes positions at BBVA Compass, Thompson & Knight LLP, the Office of the Comptroller of the Currency, and Bank of America. He holds a finance degree from Texas Tech University and was valedictorian at South Texas College of Law.

First Financial Bankshares (NASDAQ: FFIN) has renewed its stock repurchase plan, authorizing the repurchase of up to 5,000,000 shares of common stock through July 31, 2025. This represents approximately 3.5% of the company's outstanding shares as of July 23, 2024. The plan allows management to repurchase shares when considered beneficial to the company and its stockholders, with no minimum repurchase requirement. Repurchases can be made through open market, block trades, or private transactions. F. Scott Dueser, Chairman, CEO, and President, emphasized FFIN's strong capital position and the plan's potential to benefit shareholders when share prices are attractive.

First Financial Bankshares (NASDAQ: FFIN) reported earnings of $52.49 million for Q2 2024, up from $50.87 million in Q2 2023. Basic and diluted EPS were $0.37, compared to $0.36 in Q2 2023. The company saw strong loan growth and net interest margin expansion, resulting in increased net interest income. Net interest income rose to $103.27 million, up from $95.87 million in Q2 2023. The net interest margin improved to 3.48% from 3.29% year-over-year. Loans totaled $7.52 billion, growing 16.15% annualized in Q2. Deposits increased to $11.41 billion. The company's efficiency ratio was 47.41%, up from 44.74% in Q2 2023 due to increased non-interest expenses.