First Financial Bankshares (FFIN) Q1 2026 profit rises 16.6% year over year

Rhea-AI Filing Summary

First Financial Bankshares reported first quarter 2026 net income of $71.54 million, up from $61.35 million a year ago, as earnings per share rose to $0.50 from $0.43. Compared with the fourth quarter of 2025, net income dipped slightly from $73.31 million and EPS from $0.51.

Net interest income increased to $134.79 million, with a tax‑equivalent net interest margin of 3.86%, up from 3.74% a year earlier. Average interest‑earning assets grew to $14.54 billion, helping drive higher core banking revenue.

Credit quality remained solid. The allowance for credit losses was $107.92 million, or 1.30% of loans, with net charge‑offs of only $356 thousand. Nonperforming assets declined to 0.66% of loans and foreclosed assets, improving from 0.78% a year ago.

Noninterest income rose to $32.10 million, supported by higher trust and mortgage fees, while noninterest expense increased to $76.77 million. The efficiency ratio improved to 44.98%, indicating disciplined cost control. Loans grew to $8.29 billion and total assets reached $15.39 billion. Capital remained strong, with a Common Equity Tier 1 ratio of 20.23% and equity of $1.94 billion.

Positive

• Strong year-over-year earnings growth: Net income rose to $71.54 million, up 16.6% from $61.35 million a year earlier, with EPS increasing from $0.43 to $0.50.
• Robust capital and asset quality: Common Equity Tier 1 ratio of 20.23% and nonperforming assets at only 0.66% of loans and foreclosed assets support a strong balance sheet.

Negative

• None.

Insights

Bank equity analyst

Q1 2026 shows solid growth, strong capital and stable credit quality.

First Financial Bankshares delivered net income of $71.54 million, up 16.6% year over year, as net interest income rose to $134.79 million and tax‑equivalent net interest margin improved to 3.86%. Average interest‑earning assets expanded to $14.54 billion, supporting higher core revenue.

Asset quality metrics look conservative. The allowance for credit losses was $107.92 million, or 1.30% of loans, with annualized net charge‑offs of 0.02%. Nonperforming assets fell to 0.66% of loans and foreclosed assets, continuing a multi‑quarter improvement pattern.

Operating efficiency and capital strength are notable. The efficiency ratio improved to 44.98%, while the Common Equity Tier 1 capital ratio reached 20.23% and the equity‑to‑assets ratio was 12.63%. These figures indicate substantial capacity to absorb shocks as the company navigates the uncertain macro environment referenced for 2026.

8-K Event Classification

2 items: 2.02, 9.01

2 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Net income Q1 2026: $71.54M Earnings per share: $0.50 Net interest income: $134.79M +5 more

8 metrics

Net income Q1 2026 $71.54M Quarter ended March 31, 2026; vs $61.35M a year ago

Earnings per share $0.50 Basic and diluted EPS for Q1 2026; vs $0.43 in Q1 2025

Net interest income $134.79M Q1 2026; up from $118.79M in Q1 2025

Net interest margin 3.86% Tax‑equivalent basis for Q1 2026; 3.74% in Q1 2025

Allowance for credit losses $107.92M As of March 31, 2026; 1.30% of loans

Nonperforming assets ratio 0.66% Loans and foreclosed assets as of March 31, 2026

Total assets $15.39B Consolidated assets as of March 31, 2026

Common Equity Tier 1 ratio 20.23% Regulatory capital ratio as of March 31, 2026

Key Terms

net interest margin, efficiency ratio, allowance for credit losses, Common equity Tier 1 capital ratio, +2 more

6 terms

net interest margin financial

"The net interest margin, on a tax-equivalent basis, was 3.86 percent for the first quarter of 2026"

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.

efficiency ratio financial

"The Company’s efficiency ratio was 44.98 percent for the first quarter of 2026"

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.

allowance for credit losses financial

"the allowance for credit losses totaled $107.92 million, or 1.30 percent of 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.

Common equity Tier 1 capital ratio financial

"Common equity Tier 1 capital ratio was 20.23 percent"

A bank’s common equity tier 1 (CET1) capital ratio measures the size of its strongest loss-absorbing capital—mainly common shares and retained earnings—relative to the bank’s assets after adjusting those assets for how risky they are (riskier loans count more). Think of it as the safety cushion compared with the weight of risky business; investors use it to judge a bank’s ability to survive losses, meet rules, and sustain dividends or growth.

nonperforming assets financial

"Nonperforming assets as a percentage of loans and foreclosed assets decreased to 0.66 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.

tangible common equity ratio financial

"Tangible common equity ratio was 10.81 percent"

Tangible common equity ratio measures how much real, loss-absorbing capital common shareholders have relative to a company's tangible assets—calculated by removing intangible items (like goodwill) and preferred equity from total equity and comparing that net amount to tangible assets. Think of it as the thickness of a safety cushion made of solid, visible value rather than accounting entries; investors use it to judge how well a company could withstand losses and protect common shareholders' claims.

Offering Details

earnings_snapshot

Offering

Offering Type earnings_snapshot

Understanding 8-K Material Events →

0000036029false00000360292026-04-162026-04-16

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of Earliest Event Reported): April 16, 2026

First Financial Bankshares, Inc.

(Exact name of registrant as specified in its Charter)

Texas	0-07674	75-0944023
(State or other jurisdiction of incorporation or organization)	(Commission File No.)	(I.R.S. Employer Identification No.)
	400 Pine Street, Abilene, Texas 79601
	(Address of Principal Executive Offices and Zip Code)
	Registrant’s Telephone Number (325) 627-7155

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐		Written communications pursuant to Rule 425 under the Securities Act (17 CFR 203.425)
☐		Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐		Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2 (b))
☐		Pre-commencement communications pursuant to Rule 13e-4 (c) under the Exchange Act (17 CFR 240.13 e-4 (c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, $0.01 par value		FFIN		The Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION

Attached as an exhibit to this Form 8-K is the earnings release for the quarter ended March 31, 2026 of First Financial Bankshares, Inc.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

99.1 Press Release dated April 16, 2026

104 Cover Page Interactive Data File (embedded within Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.

		FIRST FINANCIAL BANKSHARES, INC.
		(Registrant)
DATE: April 17, 2026	By:	/s/ David W. Bailey
		David W. Bailey
		President and Chief Executive Officer

For immediate release For More Information: Michelle S. Hickox, EVP & Chief Financial Officer 325.627.7155

FIRST FINANCIAL BANKSHARES ANNOUNCES FIRST QUARTER 2026 EARNINGS

ABILENE, Texas, April 16, 2026 - First Financial Bankshares, Inc. (the “Company,” “we,” “us” or “our”) (NASDAQ: FFIN) today reported earnings for the first quarter of 2026 of $71.54 million compared to earnings of $73.31 million for the fourth quarter of 2025 and $61.35 million for the same quarter a year ago. Basic and diluted earnings per share were $0.50 for the quarter ended March 31, 2026 compared to $0.51 for the quarter ended December 31, 2025 and $0.43 for the quarter ended March 31, 2025.

“We are pleased to start 2026 with a strong increase in net income of 16.6 percent year over year, primarily due to our core balance sheet growth and decreased funding costs over the past year,” said David Bailey, President and CEO. “While the current macro environment is uncertain with the ongoing Iran conflict, our Company remains financially strong, sound and secure as reflected in our strong capital levels, diversified core deposit base, and sound lending practices. We appreciate our associates who work hard every day to build new customer relationships while providing exceptional service,” added Mr. Bailey.

Net interest income for the first quarter of 2026 was $134.79 million compared to $131.37 million for the fourth quarter of 2025 and $118.79 million for the first quarter of 2025. The net interest margin, on a tax-equivalent basis, was 3.86 percent for the first quarter of 2026 compared to 3.81 percent for the fourth quarter of 2025 and 3.74 percent for the first quarter of 2025. Net interest income was affected by a $1.26 million reversal of interest expense, improving the core margin by about 3 basis points. Average interest-earning assets were $14.54 billion for the first quarter of 2026 compared to $14.08 billion for the fourth quarter of 2025 and $13.16 billion for the same quarter a year ago.

The Company recorded a provision for credit losses of $2.29 million for the first quarter of 2026 compared to a provision reversal of $2.49 million for the fourth quarter of 2025 and a provision for credit losses of $3.53 million for the first quarter of 2025.

At March 31, 2026, the allowance for credit losses totaled $107.92 million, or 1.30 percent of loans held-for-investment (“loans” hereafter), compared to $105.54 million, or 1.29 percent of loans, at December 31, 2025 and $101.08 million, or 1.27 percent of loans, at March 31, 2025.

Net charge-offs totaled $356 thousand for the first quarter of 2026 compared to net charge-offs of $391 thousand for the fourth quarter of 2025 and $236 thousand for the first quarter of 2025. Nonperforming assets as a percentage of loans and foreclosed assets decreased to 0.66 percent at March 31, 2026, compared with 0.69 percent at December 31, 2025 and 0.78 percent at March 31, 2025.

Noninterest income for the first quarter of 2026 was $32.10 million compared to $30.23 million for the first quarter of 2025.

•Trust fees increased to $13.36 million for the first quarter of 2026 compared to $12.65 million for the first quarter of 2025, driven by the increase in market value of trust assets managed to $11.91 billion at March 31, 2026, compared to $10.86 billion at March 31, 2025.

•Service charges on deposits decreased to $6.08 million for the first quarter of 2026 compared with $6.18 million for the first quarter of 2025, driven by a decrease in overdraft fees.

•Mortgage income increased to $4.28 million for the first quarter of 2026 compared to $2.83 million for the first quarter of 2025, due to increased volume in mortgage loans originated and better margins.

Noninterest expense for the first quarter of 2026 totaled $76.77 million compared to $70.34 million for the first quarter of 2025.

•Salary, commissions, and employee benefit costs increased to $45.98 million for the first quarter of 2026, compared to $42.14 million in the first quarter of 2025, primarily resulting from additions to staff and merit-based and market driven pay increases to officers and employees over the past year.

•Noninterest expenses, excluding salary related costs, increased $2.59 million for the first quarter of 2026 compared to the same period in 2025, largely due to increases in software amortization, professional fees and operational and other losses.

The Company’s efficiency ratio was 44.98 percent for the first quarter of 2026 compared to 46.36 percent for the first quarter of 2025.

As of March 31, 2026, consolidated total assets were $15.39 billion compared to $15.45 billion at December 31, 2025, and $14.31 billion at March 31, 2025. Loans totaled $8.29 billion at March 31, 2026, compared with $8.16 billion at December 31, 2025 and $7.95 billion at March 31, 2025. Loans grew $126.84 million or 6.31 percent annualized from 2025 year end balances. Deposits and Repurchase Agreements totaled $13.31 billion at March 31, 2026 compared to $13.41 billion at December 31, 2025 and $12.52 billion at March 31, 2025. Core deposits grew during the quarter but were offset by declines in public fund balances.

Shareholders’ equity was $1.94 billion as of March 31, 2026, compared to $1.92 billion and $1.68 billion at December 31, 2025 and March 31, 2025, respectively. The unrealized loss on the securities portfolio, net of applicable tax, totaled $290.06 million at March 31, 2026, compared to an unrealized loss of $269.94 million and $388.89 million at December 31, 2025 and March 31, 2025, respectively, due to the changes in market interest rates during the respective periods.

About First Financial Bankshares, Inc.

Headquartered in Abilene, Texas, First Financial Bankshares, Inc. is a financial holding company that through its 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, Keller, Kingwood, Lumberton, 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 & 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
		2026					2025
ASSETS		Mar. 31					Dec. 31,					Sept. 30,					June 30,					Mar. 31,
Cash and due from banks	$		264,850			$		249,466			$		237,466			$		264,000			$		232,943
Interest-bearing demand deposits in banks			458,203					826,947					401,580					435,612					682,362
Federal funds sold			14,075					1,575					11,750					8,750					11,750
Investment securities			5,668,792					5,514,113					5,260,813					4,886,548					4,760,431
Loans, held-for-investment			8,285,120					8,158,276					8,243,625					8,074,944					7,945,611
Allowance for credit losses			(107,918	)				(105,536	)				(105,958	)				(102,792	)				(101,080	)
Net loans, held-for-investment			8,177,202					8,052,740					8,137,667					7,972,152					7,844,531
Loans, held-for-sale			22,984					29,992					26,015					33,233					14,348
Premises and equipment, net			150,989					149,985					149,651					148,999					150,589
Goodwill			313,481					313,481					313,481					313,481					313,481
Other intangible assets			128					171					257					343					428
Other assets			316,941					308,006					302,848					313,723					301,251
Total assets	$		15,387,645			$		15,446,476			$		14,841,528			$		14,376,841			$		14,312,114
LIABILITIES AND SHAREHOLDERS' EQUITY
Noninterest-bearing deposits	$		3,385,878			$		3,401,057			$		3,446,262			$		3,439,059			$		3,356,553
Interest-bearing deposits			9,859,359					9,944,472					9,399,986					9,009,357					9,110,218
Total deposits			13,245,237					13,345,529					12,846,248					12,448,416					12,466,771
Repurchase agreements			67,946					62,956					50,646					48,026					56,606
Borrowings			22,306					21,680					21,956					22,153					26,978
Trade date payable			-					-					-					24,965					-
Other liabilities			108,305					98,994					92,410					95,929					81,498
Shareholders' equity			1,943,851					1,917,317					1,830,268					1,737,352					1,680,261
Total liabilities and shareholders' equity	$		15,387,645			$		15,446,476			$		14,841,528			$		14,376,841			$		14,312,114

	Quarter Ended
		2026					2025
INCOME STATEMENTS		Mar. 31					Dec. 31,					Sept. 30,					June 30,					Mar. 31,
Interest income	$		182,945			$		182,869			$		179,692			$		172,810			$		167,110
Interest expense			48,154					51,501					52,691					49,080					48,321
Net interest income			134,791					131,368					127,001					123,730					118,789
Provision for credit losses			2,291					(2,486	)				24,435					3,132					3,528
Net interest income after provision for credit losses			132,500					133,854					102,566					120,598					115,261
Noninterest income			32,096					33,349					34,264					32,873					30,230
Noninterest expense			76,768					77,650					73,666					71,735					70,335
Net income before income taxes			87,828					89,553					63,164					81,736					75,156
Income tax expense			16,285					16,239					10,897					15,078					13,810
Net income	$		71,543			$		73,314			$		52,267			$		66,658			$		61,346

PER COMMON SHARE DATA
Net income - basic	$		0.50			$		0.51			$		0.37			$		0.47			$		0.43
Net income - diluted			0.50					0.51					0.36					0.47					0.43
Cash dividends declared			0.19					0.19					0.19					0.19					0.18
Book value			13.57					13.39					12.78					12.14					11.75
Tangible book value			11.38					11.20					10.59					9.95					9.55
Market value			29.45					29.87					33.65					35.98					35.92
Shares outstanding - end of period			143,279,030					143,213,102					143,188,051					143,077,619					143,019,433
Average outstanding shares - basic			143,210,755					143,180,215					143,105,224					143,023,544					142,949,514
Average outstanding shares - diluted			143,608,079					143,542,801					143,474,169					143,378,505					143,355,148

PERFORMANCE RATIOS
Return on average assets			1.89		%			1.94		%			1.44		%			1.89		%			1.78		%
Return on average equity			14.83					15.62					11.85					15.82					15.12
Return on average tangible equity			17.66					18.78					14.44					19.43					18.68
Net interest margin (tax equivalent)			3.86					3.81					3.80					3.81					3.74
Efficiency ratio			44.98					46.10					44.74					44.97					46.36

FIRST FINANCIAL BANKSHARES, INC.

SELECTED FINANCIAL DATA (UNAUDITED)

(In thousands)

	Quarter Ended
		2026					2025
ALLOWANCE FOR LOAN LOSSES		Mar. 31,					Dec. 31,					Sept. 30,					June 30,					Mar. 31,
Balance at beginning of period	$		105,536			$		105,958			$		102,792			$		101,080			$		98,325
Loans charged-off			(1,174	)				(3,387	)				(22,612	)				(1,189	)				(946	)
Loan recoveries			818					2,996					272					469					710
Net recoveries (charge-offs)			(356	)				(391	)				(22,340	)				(720	)				(236	)
Provision for loan losses			2,738					(31	)				25,506					2,432					2,991
Balance at end of period	$		107,918			$		105,536			$		105,958			$		102,792			$		101,080

ALLOWANCE FOR UNFUNDED COMMITMENTS
Balance at beginning of period	$		6,387			$		8,842			$		9,914			$		9,214			$		8,677
Provision for unfunded commitments			(447	)				(2,455	)				(1,072	)				700					537
Balance at end of period	$		5,940			$		6,387			$		8,842			$		9,914			$		9,214
Allowance for loan losses /
period-end loans held-for-investment			1.30		%			1.29		%			1.29		%			1.27		%			1.27		%
Allowance for loan losses /
nonperforming loans			206.16					188.41					187.39					162.60					164.16
Net charge-offs (recoveries) / average total loans
(annualized)			0.02					0.02					1.07					0.04					0.01

	As of
		2026					2025
COMPOSITION OF LOANS HELD-FOR-INVESTMENT		Mar. 31,					Dec. 31,					Sept. 30,					June 30,					Mar. 31,
Commercial:
C&I	$		1,149,931			$		1,116,461			$		1,174,770			$		1,202,151			$		1,144,429
Municipal			384,473					342,501					347,559					306,140					338,303
Total Commercial			1,534,404					1,458,962					1,522,329					1,508,291					1,482,732
Agricultural			77,583					95,776					88,820					86,133					90,186
Real Estate:
Construction & Development			1,169,037					1,157,865					1,214,649					1,172,834					1,098,069
Farm			329,151					327,625					322,710					302,969					331,464
Non-Owner Occupied CRE			825,771					832,816					802,675					746,341					753,898
Owner Occupied CRE			1,132,114					1,120,608					1,119,425					1,124,610					1,142,618
Residential			2,322,097					2,285,830					2,308,708					2,286,220					2,217,740
Total Real Estate			5,778,170					5,724,744					5,768,167					5,632,974					5,543,789
Consumer:
Auto			751,283					732,351					718,501					698,897					679,189
Non-Auto			143,680					146,443					145,808					148,649					149,715
Total Consumer			894,963					878,794					864,309					847,546					828,904
Total loans held-for-investment	$		8,285,120			$		8,158,276			$		8,243,625			$		8,074,944			$		7,945,611

SUMMARY OF LOAN CLASSIFICATION
Special Mention	$		66,864			$		66,058			$		76,647			$		62,774			$		46,103
Substandard			222,895					189,548					176,311					194,291					199,509
Total classified loans	$		289,759			$		255,606			$		252,958			$		257,065			$		245,612

NONPERFORMING ASSETS
Nonaccrual loans	$		52,129			$		55,121			$		56,394			$		63,142			$		60,430
Accruing loans 90 days past due			218					892					151					77					1,143
Total nonperforming loans			52,347					56,013					56,545					63,219					61,573
Foreclosed assets			1,962					479					1,997					489					115
Total nonperforming assets	$		54,309			$		56,492			$		58,542			$		63,708			$		61,688
As a % of loans held-for-investment and foreclosed assets			0.66		%			0.69		%			0.71		%			0.79		%			0.78		%
As a % of end of period total assets			0.35					0.37					0.39					0.44					0.43

FIRST FINANCIAL BANKSHARES, INC.

SELECTED FINANCIAL DATA (UNAUDITED)

(In thousands)

	Quarter Ended
		2026					2025
CAPITAL RATIOS		Mar. 31,					Dec. 31,					Sept. 30,					June 30,					Mar. 31,
Common equity Tier 1 capital ratio			20.23		%			19.99		%			19.10		%			19.16		%			19.12		%
Tier 1 capital ratio			20.23					19.99					19.10					19.16					19.12
Total capital ratio			21.42					21.17					20.29					20.35					20.31
Tier 1 leverage ratio			12.58					12.55					12.34					12.61					12.46
Tangible common equity ratio			10.81					10.60					10.44					10.12					9.76
Equity/Assets ratio			12.63					12.41					12.33					12.08					11.74

	Quarter Ended
		2026					2025
NONINTEREST INCOME		Mar. 31,					Dec. 31,					Sept. 30,					June 30,					Mar. 31,
Trust fees	$		13,363			$		13,512			$		12,950			$		12,746			$		12,653
Service charges on deposits			6,077					6,140					6,447					6,126					6,177
Debit card fees			5,245					5,791					5,333					5,218					4,967
Credit card fees			651					678					699					707					577
Gain on sale and fees on mortgage loans			4,277					4,216					4,375					4,126					2,832
Net gain (loss) on sale of foreclosed assets			(56	)				(12	)				(122	)				200					(35	)
Net gain on sale of assets			-					-					-					6					-
Loan recoveries			290					546					1,664					810					574
Other noninterest income			2,249					2,478					2,918					2,934					2,485
Total noninterest income	$		32,096			$		33,349			$		34,264			$		32,873			$		30,230

NONINTEREST EXPENSE
Salaries, commissions and employee benefits, excluding profit sharing	$		42,959			$		42,409			$		40,681			$		39,834			$		39,157
Profit sharing expense			3,023					4,819					1,924					2,741					2,985
Net occupancy expense			3,630					3,458					3,545					3,600					3,720
Equipment expense			2,158					2,128					2,395					2,478					2,321
FDIC insurance premiums			1,560					1,695					1,635					1,585					1,575
Debit card expense			3,108					3,265					3,512					3,308					3,373
Legal, tax and professional fees			3,834					3,079					3,332					3,143					3,067
Audit fees			455					531					536					463					451
Printing, stationery and supplies			623					528					456					473					482
Amortization of intangible assets			43					86					86					86					95
Advertising, meals and public relations			1,701					1,923					1,714					1,653					1,677
Operational and other losses			1,000					1,583					1,957					720					540
Software amortization and expense			4,594					4,456					4,280					4,020					3,732
Other noninterest expense			8,080					7,690					7,613					7,631					7,160
Total noninterest expense	$		76,768			$		77,650			$		73,666			$		71,735			$		70,335
TAX EQUIVALENT YIELD ADJUSTMENT	$		3,791			$		3,709			$		3,406			$		2,926			$		2,700

FIRST FINANCIAL BANKSHARES, INC.

SELECTED FINANCIAL DATA (UNAUDITED)

(In thousands)

	Three Months Ended																		Three Months Ended
	Mar. 31, 2026																		Dec. 31, 2025
		Average					Tax Equivalent					Yield /								Average					Tax Equivalent					Yield /
		Balance					Interest					Rate								Balance					Interest					Rate
Interest-earning assets:
Federal funds sold	$		4,565			$		40					3.55		%				$		6,565			$		62					3.75		%
Interest-bearing demand deposits in nonaffiliated banks			461,579					4,209					3.70								434,445					4,284					3.91
Taxable securities			4,076,690					32,283					3.17								3,683,108					29,231					3.17
Tax-exempt securities			1,726,765					14,184					3.29								1,712,261					14,144					3.30
Loans			8,273,995					136,020					6.67								8,241,265					138,857					6.68
Total interest-earning assets			14,543,594			$		186,736					5.21		%						14,077,644			$		186,578					5.26		%
Noninterest-earning assets			821,635																		893,739
Total assets	$		15,365,229																$		14,971,383
Interest-bearing liabilities:
Deposits	$		9,824,362			$		47,851					1.98		%				$		9,476,716			$		51,207					2.14		%
Repurchase Agreements			62,849					229					1.48								56,573					219					1.54
Borrowings			22,155					74					1.35								22,113					75					1.35
Total interest-bearing liabilities			9,909,366			$		48,154					1.97		%						9,555,402			$		51,501					2.14		%
Noninterest-bearing deposits			3,401,092																		3,454,171
Other noninterest-bearing liabilities			97,986																		99,623
Shareholders' equity			1,956,785																		1,862,187
Total liabilities and shareholders' equity	$		15,365,229																$		14,971,383
Net interest income and margin (tax equivalent)						$		138,582					3.86		%									$		135,077					3.81		%
	Three Months Ended																		Three Months Ended
	Sept. 30, 2025																		June 30, 2025
		Average					Tax Equivalent					Yield /								Average					Tax Equivalent					Yield /
		Balance					Interest					Rate								Balance					Interest					Rate
Interest-earning assets:
Federal funds sold	$		10,711			$		130					4.82		%				$		9,397			$		113					4.84		%
Interest-bearing demand deposits in nonaffiliated banks			216,739					2,387					4.37								379,364					4,191					4.43
Taxable securities			3,560,347					26,539					2.98								3,470,028					25,242					2.91
Tax-exempt securities			1,564,767					12,906					3.30								1,433,498					10,811					3.02
Loans			8,249,113					141,136					6.79								8,045,340					135,378					6.75
Total interest-earning assets			13,601,677			$		183,098					5.34		%						13,337,627			$		175,735					5.28		%
Noninterest-earning assets			826,660																		826,635
Total assets	$		14,428,337																$		14,164,262
Interest-bearing liabilities:
Deposits	$		9,051,463			$		52,010					2.28		%				$		8,923,737			$		48,730					2.19		%
Repurchase Agreements			50,051					210					1.66								54,482					221					1.63
Borrowings			56,198					471					3.33								26,557					128					1.93
Total interest-bearing liabilities			9,157,712			$		52,691					2.28		%						9,004,776			$		49,079					2.19		%
Noninterest-bearing deposits			3,419,378																		3,383,851
Other noninterest-bearing liabilities			101,268																		85,745
Shareholders' equity			1,749,979																		1,689,890
Total liabilities and shareholders' equity	$		14,428,337																$		14,164,262
Net interest income and margin (tax equivalent)						$		130,407					3.80		%									$		126,656					3.81		%

FIRST FINANCIAL BANKSHARES, INC.

SELECTED FINANCIAL DATA (UNAUDITED)

(In thousands)

	Three Months Ended
	Mar. 31, 2025
		Average					Tax Equivalent					Yield /
		Balance					Interest					Rate
Interest-earning assets:
Federal funds sold	$		7,596			$		90					4.81		%
Interest-bearing demand deposits in nonaffiliated banks			286,040					3,174					4.50
Taxable securities			3,506,035					25,034					2.86
Tax-exempt securities			1,407,440					9,912					2.82
Loans			7,952,946					131,600					6.71
Total interest-earning assets			13,160,057			$		169,810					5.23		%
Noninterest-earning assets			830,055
Total assets	$		13,990,112
Interest-bearing liabilities:
Deposits	$		8,882,040			$		47,549					2.17		%
Repurchase Agreements			53,920					209					1.57
Borrowings			74,561					563					3.06
Total interest-bearing liabilities			9,010,521			$		48,321					2.17		%
Noninterest-bearing deposits			3,265,838
Other noninterest-bearing liabilities			68,218
Shareholders' equity			1,645,535
Total liabilities and shareholders' equity	$		13,990,112
Net interest income and margin (tax equivalent)						$		121,489					3.74		%

FAQ

How did First Financial Bankshares (FFIN) perform in Q1 2026?

First Financial Bankshares reported Q1 2026 net income of $71.54 million, up from $61.35 million a year earlier. Earnings per share rose to $0.50, reflecting higher net interest income, stronger margins, and growth in average interest‑earning assets during the quarter.

What happened to First Financial Bankshares’ net interest margin in Q1 2026?

The tax‑equivalent net interest margin improved to 3.86% in Q1 2026 from 3.74% a year earlier. Net interest income reached $134.79 million, supported by a larger base of interest‑earning assets and a modest benefit from a $1.26 million reversal of interest expense.

How strong is credit quality at First Financial Bankshares in Q1 2026?

Credit quality remained solid, with an allowance for credit losses of $107.92 million, or 1.30% of loans, at March 31, 2026. Net charge‑offs were only $356 thousand, and nonperforming assets declined to 0.66% of loans and foreclosed assets, down from 0.78% a year ago.

What were First Financial Bankshares’ key balance sheet figures for Q1 2026?

As of March 31, 2026, total assets were $15.39 billion and loans were $8.29 billion. Deposits and repurchase agreements totaled $13.31 billion, while shareholders’ equity reached $1.94 billion, reflecting continued franchise growth and retained earnings.

How efficient was First Financial Bankshares’ operations in Q1 2026?

The efficiency ratio improved to 44.98% in Q1 2026, better than 46.36% a year earlier. Noninterest expense rose to $76.77 million, but revenue growth outpaced cost increases, indicating tighter cost control relative to income expansion.

What is First Financial Bankshares’ capital position as of March 31, 2026?

First Financial Bankshares reported a Common Equity Tier 1 capital ratio of 20.23% and a total capital ratio of 21.42%. Its equity‑to‑assets ratio was 12.63%, and the tangible common equity ratio stood at 10.81%, signaling a very strong capital base.

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