First Financial Bankshares Stock Price, News & Analysis

First Financial Bankshares (NASDAQ: FFIN) reported Q1 2022 earnings of $55.97 million, a slight decrease from $56.92 million in Q1 2021. Basic and diluted earnings per share fell to $0.39 from $0.40. Major factors included a $6.78 million rise in credit loss provisions, a $4.88 million drop in PPP loan origination fees, and a $3.56 million decrease in mortgage revenues. However, net interest income rose to $95.44 million, up from $88.82 million, aided by loan growth of $214.25 million (16.07% annualized) and deposits growing by $433.34 million (16.63% annualized).

First Financial Bankshares, Inc. (NASDAQ: FFIN) will host its 2022 Annual Shareholders' Meeting on April 26, 2022, at 10:30 a.m. Central time. The event will be live-streamed, featuring F. Scott Dueser, James R. Gordon, and Kirk W. Thaxton discussing operational and financial results from 2021 and Q1 2022. Shareholders and interested parties can access the live stream via their website. The company operates 78 locations in Texas through First Financial Bank and offers services through its subsidiaries, including First Financial Trust & Asset Management.

First Financial Bankshares, Inc. (NASDAQ: FFIN) has appointed Rett Everett as the new Executive Vice President of Credit Administration. This decision, announced by Luke Longhofer, reflects the bank's commitment to enhancing its lending capabilities. Everett brings extensive experience from his previous role as Chief Credit Officer and has a solid background in commercial banking spanning over 14 years at Capital One Bank. He will oversee lending operations in the Dallas/Fort Worth areas, focusing on credit underwriting, loan decisioning, and portfolio risk management.

First Financial Bank, N.A. has appointed Jamie Esch as Chairman and CEO of its Hereford Region, enhancing its leadership team. According to Ron Butler, Chief Administrative Officer, Esch's extensive banking experience will strengthen the bank's presence in the Panhandle. Esch, a local native, has a solid background, previously serving as Senior VP at Happy State Bank, where he oversaw private banking and commercial portfolios. His appointment is expected to enhance customer service within the region.

First Financial Bank, N.A. has appointed Shelby Bruhn as the new President and CEO of the Southlake Region, succeeding Mark Jones. The announcement was made by Ron Butler, Chief Administrative Officer. Bruhn has a strong background in banking, previously serving in executive roles at Valliance Bank and other financial institutions. His experience in the Southlake and Tarrant County markets is expected to contribute to the bank's growth. First Financial Bank operates multiple regions in Texas, with a solid foundation for continued success.

The Board of Directors of First Financial Bankshares has promoted J. Kyle McVey to Executive Vice President, Chief Accounting Officer. This decision was announced by CEO F. Scott Dueser, highlighting McVey's critical role in financial reporting, budgeting, audits, and investor relations. McVey, who joined the company in 2011, has contributed significantly to enhancing customer service culture and community initiatives. He holds degrees in accounting and finance, is a licensed CPA, and has received multiple academic honors.

First Financial Bankshares has promoted Luke Longhofer to Executive Vice President and Chief Lending Officer, succeeding Gary Gragg, who retired after 31 years. Longhofer has served as Chief Credit Officer and has significantly contributed to the bank's growth, including overseeing over $1 billion in PPP and Main Street Lending Programs. With over a decade of experience at the bank, he is positioned to strengthen its lending strategy. The company operates 78 locations across Texas and is traded on NASDAQ under FFIN.

First Financial Bankshares, Inc. (NASDAQ: FFIN) reported a Q4 2021 net income of $55.34 million, a decrease from $58.48 million a year earlier, with EPS dropping to $0.39 from $0.41. For the year 2021, earnings increased to $227.56 million, or 12.64% growth year-over-year. The bank saw a significant increase in deposits, up $1.89 billion (21.79%) and loans up 13.84% after excluding PPP loans. Net interest income rose to $94.81 million. However, its net interest margin declined to 3.29% from 3.75% in Q4 2020.

First Financial Bankshares has appointed Eli Jones, Ph.D., to its Board of Directors, enhancing its governance. With extensive experience in higher education and public companies, Jones will also join the First Financial Bank, N.A. Board. His tenure includes prominent roles at Texas A&M University and other institutions. Chairman Scott Dueser expressed confidence in Jones’s expertise in marketing and sales culture, anticipating a positive influence on the company's strategic direction.