First Financial (NASDAQ: FFIN) Q2 profit rises to $71.9M

Rhea-AI Filing Summary

First Financial Bankshares, Inc. reported Q2 2026 net income of $71.89 million, up from $66.66 million a year earlier and slightly above $71.54 million in Q1 2026. Basic and diluted EPS were $0.50 versus $0.47 in Q2 2025. For the first six months of 2026, net income was $143.437 million, compared with $128.004 million in the prior-year period.

Q2 net interest income reached $136.91 million, and the tax-equivalent net interest margin improved to 3.90% from 3.81% a year ago, aided by lower deposit costs and higher securities yields. Noninterest income increased to $35.84 million, driven by growth in wealth management fees, mortgage income and higher fair values in a supplemental executive retirement plan.

The provision for credit losses was $4.18 million, and the allowance for credit losses stood at $112.43 million, or 1.35% of loans, with net recoveries of $0.6 million. Nonperforming assets were 0.80% of loans and foreclosed assets. At June 30, 2026, total assets were $15.31 billion, loans were $8.35 billion, deposits and repurchase agreements totaled $13.17 billion, and the common equity Tier 1 capital ratio was 20.40%.

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

Q2 2026 net income: $71.89 million Q2 2026 diluted EPS: $0.50 Q2 2026 net interest income: $136.91 million +5 more

8 metrics

Q2 2026 net income $71.89 million Quarter ended June 30, 2026

Q2 2026 diluted EPS $0.50 Quarter ended June 30, 2026

Q2 2026 net interest income $136.91 million Quarter ended June 30, 2026

Net interest margin (tax equivalent) 3.90% Q2 2026, compared with 3.81% in Q2 2025

Loans held-for-investment $8.35 billion Balance at June 30, 2026

Deposits and repurchase agreements $13.17 billion Balance at June 30, 2026

Allowance for credit losses $112.43 million (1.35% of loans) Balance at June 30, 2026

Common equity Tier 1 capital ratio 20.40% Regulatory capital ratio at June 30, 2026

Key Terms

net interest margin, efficiency ratio, nonperforming assets, allowance for credit losses, +1 more

5 terms

net interest margin financial

"The net interest margin, on a tax-equivalent basis, was 3.90 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.

efficiency ratio financial

"The Company’s efficiency ratio was 45.94 percent for the second 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.

nonperforming assets financial

"Nonperforming assets as a percentage of loans and foreclosed assets totaled 0.80 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.

allowance for credit losses financial

"the allowance for credit losses totaled $112.43 million, or 1.35 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.

tangible common equity ratio financial

"Tangible common equity ratio was 11.23 percent at June 30, 2026"

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.

Earnings Snapshot

Q2 2026 net income: $71.89 million

Quarter and six months ended June 30, 2026

Q2 2026 net income $71.89 million compared with $66.66 million in Q2 2025

Q2 2026 diluted EPS $0.50 compared with $0.47 in Q2 2025

Q2 2026 net interest income $136.91 million compared with $123.73 million in Q2 2025

Q2 2026 net interest margin (tax equivalent) 3.90% compared with 3.81% in Q2 2025

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FAQ

How much were First Financial Bankshares (FFIN) earnings in Q2 2026?

First Financial Bankshares earned $71.89 million in Q2 2026, up from $66.66 million in Q2 2025 and slightly above $71.54 million in Q1 2026. Basic and diluted EPS were $0.50, compared with $0.47 a year earlier.

How did First Financial Bankshares (FFIN) net interest margin change in Q2 2026?

The tax-equivalent net interest margin was 3.90% in Q2 2026, compared with 3.81% in Q2 2025 and 3.86% in Q1 2026. Improvement reflected lower deposit costs and better yields on the securities portfolio.

What were loans and deposits for First Financial Bankshares (FFIN) at June 30, 2026?

At June 30, 2026, loans held-for-investment totaled $8.35 billion, and deposits plus repurchase agreements totaled $13.17 billion. Loans grew $61.81 million during Q2 2026 and $188.66 million year-to-date on an annualized basis.

How did noninterest income and expenses trend for First Financial Bankshares (FFIN) in Q2 2026?

Noninterest income rose to $35.84 million from $32.87 million a year earlier, helped by higher wealth management and mortgage fees. Noninterest expense increased to $81.11 million from $71.74 million, mainly from higher salaries, benefits and professional fees.

What were First Financial Bankshares (FFIN) capital ratios as of June 30, 2026?

As of June 30, 2026, the common equity Tier 1 capital ratio was 20.40%, total capital ratio 21.62%, Tier 1 leverage ratio 12.88%, and tangible common equity ratio 11.23%, indicating a strong capital position.

How did credit quality look for First Financial Bankshares (FFIN) in Q2 2026?

The allowance for credit losses was $112.43 million, or 1.35% of loans, with net recoveries of $0.6 million in Q2 2026. Nonperforming assets were 0.80% of loans and foreclosed assets, and classified loans totaled $283.10 million.

0000036029false00000360292026-07-162026-07-16

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): July 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 June 30, 2026 of First Financial Bankshares, Inc.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

99.1 Press Release dated July 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: July 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 SECOND QUARTER 2026 EARNINGS

ABILENE, Texas, July 16, 2026 - First Financial Bankshares, Inc. (the “Company,” “we,” “us” or “our”) (NASDAQ: FFIN) today reported earnings of $71.89 million for the second quarter of 2026 compared to earnings of $66.66 million for the same quarter a year ago and $71.54 million for the quarter ended March 31, 2026. Basic and diluted earnings per share were $0.50 for the second quarter of 2026 compared with $0.47 for the second quarter of 2025 and $0.50 for the linked quarter.

“Our second quarter results reflect solid year-over-year earnings growth, highlighted by expansion in our net interest margin and continued increases in fee income generated by wealth management and mortgage banking," said David Bailey, President and CEO. “As we look ahead, we remain focused on disciplined growth, prudent risk management and creating long term value for shareholders. We appreciate the dedication of our associates across Texas and their commitment to serving our customers and communities with excellence.”

Net interest income for the second quarter of 2026 was $136.91 million compared to $123.73 million for the second quarter of 2025 and $134.79 million for the first quarter of 2026. The net interest margin, on a tax-equivalent basis, was 3.90 percent for the second quarter of 2026 compared to 3.81 percent for the second quarter of 2025 and 3.86 percent for the first quarter of 2026. Net interest income and margin benefited from a decrease in deposit costs as well as improved securities yields over the past year. Average interest-earning assets were $14.46 billion for the second quarter of 2026 compared to $13.34 billion for the same quarter a year ago and $14.54 billion for the first quarter of 2026.

The Company recorded a provision for credit losses of $4.18 million for the second quarter of 2026 compared to a provision for credit losses of $3.13 million for the second quarter of 2025 and $2.29 million for the first quarter of 2026. At June 30, 2026, the allowance for credit losses totaled $112.43 million, or 1.35 percent of loans held-for-investment (“loans” hereafter), compared to $102.79 million, or 1.27 percent of loans, at June 30, 2025, and $107.92 million, or 1.30 percent of loans, at March 31, 2026. Additionally, the reserve for unfunded commitments totaled $6.21 million at June 30, 2026 compared to $9.91 million at June 30, 2025, and $5.94 million at March 31, 2026.

For the second quarter of 2026, the Company recorded net recoveries of $600 thousand compared to net charge-offs of $720 thousand for the second quarter of 2025 and net charge-offs of $356 thousand for the first quarter of 2026. Nonperforming assets as a percentage of loans and foreclosed assets totaled 0.80 percent at June 30, 2026, compared to 0.79 percent at June 30, 2025 and 0.66 percent at March 31, 2026. Classified loans totaled $283.10 million at June 30, 2026, compared to $257.07 million at June 30, 2025 and $289.76 million at March 31, 2026.

Noninterest income for the second quarter of 2026 was $35.84 million compared to $32.87 million for the second quarter of 2025 and $32.10 million for the linked quarter.

•Wealth Management fee income increased to $13.96 million for the second quarter of 2026 compared to $12.75 million for the second quarter of 2025 and $13.36 million for the linked quarter. The increase from prior year is driven by growth in assets under management with the increase over linked quarter related to improved mineral fee revenue due to recent higher oil prices. The market value of assets under management totaled $12.23 billion at June 30, 2026, compared to $11.46 billion at June 30, 2025 and $11.91 billion at March 31, 2026.

•Service charges on deposits increased to $6.26 million for the second quarter of 2026 compared with $6.13 million for the second quarter of 2025 and $6.08 million for the first quarter 2026, driven by increases in fees on deposit accounts for both periods and offset by a decrease in overdraft fees year over year.

•Mortgage income increased to $4.68 million for the second quarter of 2026 compared to $4.13 million for the second quarter of 2025 and $4.28 million for first quarter of 2026. Mortgage income continues to benefit from the restructuring of the secondary mortgage department, new mortgage lenders and centralization of mortgage operations this past year and an increase in the volume of mortgage loans originated.

•Other noninterest income increased to $5.02 million for the second quarter of 2026 compared to $3.74 million for the second quarter of 2025 and $2.54 million in the linked quarter. In the second quarter of 2026, non-interest income increased $1.17 million over the second quarter of 2025 and $1.68 million from the linked quarter reflecting the increase in the fair market value of the assets held in Company’s supplemental executive retirement plan. The plan holds marketable securities, including shares of Company stock. Deferred compensation related to these changes in value is included in salaries and employee benefits expense. Also, during the second quarter of 2026, the Company received life insurance proceeds of approximately $200 thousand for the death of a former employee.

Noninterest expense for the second quarter of 2026 totaled $81.11 million compared to $71.74 million for the second quarter of 2025 and $76.77 million in the linked quarter.

•Salary, commissions, and employee benefit costs increased to $49.66 million for the second quarter of 2026, compared to $42.58 million in the second quarter of 2025 and $45.98 million for the linked quarter. The increase for both periods is primarily resulting from annual merit-based and market-driven pay increases that were effective March 1st and profit sharing and incentive accruals, which are up due to year-over-year earnings growth. Mortgage incentives are also up for both periods due to higher loan volumes. Also, there was a change in deferred compensation expense of $1.17 million from the second quarter of the prior year and $1.68 million from the first quarter of 2026 due to the increase in the supplemental executive retirement plan deferred compensation liability as discussed above.

•Noninterest expenses, excluding salary related costs, increased $2.29 million for the second quarter of 2026 compared to the same period in 2025 and $660 thousand compared to the linked quarter, largely due to increases in software amortization and professional fees in both periods and offset by debit card expenses as compared to prior year.

The Company’s efficiency ratio was 45.94 percent for the second quarter of 2026 compared to 44.97 percent for the second quarter of 2025 and 44.98 percent for the first quarter of 2026.

As of June 30, 2026, consolidated total assets were $15.31 billion compared to $14.38 billion at June 30, 2025 and $15.39 billion at March 31, 2026. Loans totaled $8.35 billion at June 30, 2026, compared with loans of $8.07 billion at June 30, 2025 and $8.29 billion at March 31, 2026. During the second quarter of 2026, loans grew $61.81 million, or 2.99 percent annualized, when compared to March 31, 2026 balances. Loans have grown $188.66 million, or 4.66 percent annualized, year-to-date. Deposits and Repurchase Agreements totaled $13.17 billion at June 30, 2026, compared to $12.50 billion at June 30, 2025 and $13.31 billion at March 31, 2026. Deposits and Repurchase Agreement balances are down $234.85 million year-to-date primarily due to reduced balances of municipal deposits from year end. Deposits, excluding public funds, increased $149.57 million year-to-date.

Shareholders’ equity was $2.00 billion as of June 30, 2026, compared to $1.74 billion and $1.94 billion at June 30, 2025 and March 31, 2026, respectively. The unrealized loss on the securities portfolio, net of applicable tax, totaled $279.67 million at June 30, 2026, compared to unrealized losses of $373.46 million at June 30, 2025 and $290.06 million at March 31, 2026, due to 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 Wealth Management, 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		June 30,					Mar. 31,					Dec. 31,					Sept. 30,					June 30,
Cash and due from banks	$		284,759			$		264,850			$		249,466			$		237,466			$		264,000
Interest-bearing demand deposits in banks			286,973					458,203					826,947					401,580					435,612
Federal funds sold			8,650					14,075					1,575					11,750					8,750
Investment securities			5,675,957					5,668,792					5,514,113					5,260,813					4,886,548
Loans, held-for-investment			8,346,931					8,285,120					8,158,276					8,243,625					8,074,944
Allowance for credit losses			(112,433	)				(107,918	)				(105,536	)				(105,958	)				(102,792	)
Net loans, held-for-investment			8,234,498					8,177,202					8,052,740					8,137,667					7,972,152
Loans, held-for-sale			23,616					22,984					29,992					26,015					33,233
Premises and equipment, net			155,560					150,989					149,985					149,651					148,999
Goodwill			313,481					313,481					313,481					313,481					313,481
Other intangible assets			86					128					171					257					343
Other assets			322,857					316,941					308,006					302,848					313,723
Total assets	$		15,306,437			$		15,387,645			$		15,446,476			$		14,841,528			$		14,376,841
LIABILITIES AND SHAREHOLDERS' EQUITY
Noninterest-bearing deposits	$		3,478,755			$		3,385,878			$		3,401,057			$		3,446,262			$		3,439,059
Interest-bearing deposits			9,641,228					9,859,359					9,944,472					9,399,986					9,009,357
Total deposits			13,119,983					13,245,237					13,345,529					12,846,248					12,448,416
Repurchase agreements			53,656					67,946					62,956					50,646					48,026
Borrowings			21,829					22,306					21,680					21,956					22,153
Trade date payable			-					-					-					-					24,965
Other liabilities			114,082					108,305					98,994					92,410					95,929
Shareholders' equity			1,996,887					1,943,851					1,917,317					1,830,268					1,737,352
Total liabilities and shareholders' equity	$		15,306,437			$		15,387,645			$		15,446,476			$		14,841,528			$		14,376,841

	Quarter Ended
		2026										2025
INCOME STATEMENTS		June 30,					Mar. 31,					Dec. 31,					Sept. 30,					June 30,
Interest income	$		185,960			$		182,945			$		182,869			$		179,692			$		172,810
Interest expense			49,046					48,154					51,501					52,691					49,080
Net interest income			136,914					134,791					131,368					127,001					123,730
Provision for credit losses			4,183					2,291					(2,486	)				24,435					3,132
Net interest income after provision for credit losses			132,731					132,500					133,854					102,566					120,598
Noninterest income			35,844					32,096					33,349					34,264					32,873
Noninterest expense			81,106					76,768					77,650					73,666					71,735
Net income before income taxes			87,469					87,828					89,553					63,164					81,736
Income tax expense			15,575					16,285					16,239					10,897					15,078
Net income	$		71,894			$		71,543			$		73,314			$		52,267			$		66,658

PER COMMON SHARE DATA
Net income - basic	$		0.50			$		0.50			$		0.51			$		0.37			$		0.47
Net income - diluted			0.50					0.50					0.51					0.36					0.47
Cash dividends declared			0.22					0.19					0.19					0.19					0.19
Book value			13.93					13.57					13.39					12.78					12.14
Tangible book value			11.75					11.38					11.20					10.59					9.95
Market value			34.60					29.45					29.87					33.65					35.98
Shares outstanding - end of period			143,319,824					143,279,030					143,213,102					143,188,051					143,077,619
Average outstanding shares - basic			143,280,452					143,210,755					143,180,215					143,105,224					143,023,544
Average outstanding shares - diluted			143,698,421					143,608,079					143,542,801					143,474,169					143,378,505

PERFORMANCE RATIOS
Return on average assets			1.89		%			1.89		%			1.94		%			1.44		%			1.89		%
Return on average equity			14.70					14.83					15.62					11.85					15.82
Return on average tangible equity			17.49					17.66					18.78					14.44					19.43
Net interest margin (tax equivalent)			3.90					3.86					3.81					3.80					3.81
Efficiency ratio			45.94					44.98					46.10					44.74					44.97

FIRST FINANCIAL BANKSHARES, INC.

CONSOLIDATED FINANCIAL SUMMARY (UNAUDITED)

(In thousands, except share and per share data)

	Six Months Ended
	June 30,
INCOME STATEMENTS		2026					2025
Interest income	$		368,905			$		339,920
Interest expense			97,200					97,401
Net interest income			271,705					242,519
Provision for credit losses			6,474					6,660
Net interest income after provisions for credit losses			265,231					235,859
Noninterest income			67,940					63,103
Noninterest expense			157,874					142,070
Net income before income taxes			175,297					156,892
Income tax expense			31,860					28,888
Net income	$		143,437			$		128,004
PER COMMON SHARE DATA
Net income - basic	$		1.00			$		0.90
Net income - diluted			1.00					0.89
Cash dividends declared			0.41					0.37
Book value			13.93					12.14
Tangible book value			11.75					9.95
Market value	$		34.60			$		35.98
Shares outstanding - end of period			143,319,824					143,077,619
Average outstanding shares - basic			143,245,796					142,986,734
Average outstanding shares - diluted			143,662,250					143,378,720

PERFORMANCE RATIOS
Return on average assets			1.89		%			1.83		%
Return on average equity			14.76					15.48
Return on average tangible equity			17.57					19.07
Net interest margin (tax equivalent)			3.88					3.78
Efficiency ratio			45.47					45.65

FIRST FINANCIAL BANKSHARES, INC.

SELECTED FINANCIAL DATA (UNAUDITED)

(In thousands)

	Quarter Ended
		2026										2025
ALLOWANCE FOR LOAN LOSSES		June 30,					Mar. 31,					Dec. 31,					Sept. 30,					June 30,
Balance at beginning of period	$		107,918			$		105,536			$		105,958			$		102,792			$		101,080
Loans charged-off			(961	)				(1,174	)				(3,387	)				(22,612	)				(1,189	)
Loan recoveries			1,561					818					2,996					272					469
Net recoveries (charge-offs)			600					(356	)				(391	)				(22,340	)				(720	)
Provision for loan losses			3,915					2,738					(31	)				25,506					2,432
Balance at end of period	$		112,433			$		107,918			$		105,536			$		105,958			$		102,792

ALLOWANCE FOR UNFUNDED COMMITMENTS
Balance at beginning of period	$		5,940			$		6,387			$		8,842			$		9,914			$		9,214
Provision for unfunded commitments			268					(447	)				(2,455	)				(1,072	)				700
Balance at end of period	$		6,208			$		5,940			$		6,387			$		8,842			$		9,914
Allowance for loan losses /
period-end loans held-for-investment			1.35		%			1.30		%			1.29		%			1.29		%			1.27		%
Allowance for loan losses /
nonperforming loans			174.94					206.16					188.41					187.39					162.60
Net charge-offs (recoveries) / average total loans
(annualized)			(0.03	)				0.02					0.02					1.07					0.04

	As of
		2026										2025
COMPOSITION OF LOANS HELD-FOR-INVESTMENT		June 30,					Mar. 31,					Dec. 31,					Sept. 30,					June 30,
Commercial:
C&I	$		1,087,656			$		1,149,931			$		1,116,461			$		1,174,770			$		1,202,151
Municipal			419,070					384,473					342,501					347,559					306,140
Total Commercial			1,506,726					1,534,404					1,458,962					1,522,329					1,508,291
Agricultural			81,786					77,583					95,776					88,820					86,133
Real Estate:
Construction & Development			1,191,082					1,169,037					1,157,865					1,214,649					1,172,834
Farm			344,483					329,151					327,625					322,710					302,969
Non-Owner Occupied CRE			831,929					825,771					832,816					802,675					746,341
Owner Occupied CRE			1,144,093					1,132,114					1,120,608					1,119,425					1,124,610
Residential			2,322,000					2,322,097					2,285,830					2,308,708					2,286,220
Total Real Estate			5,833,587					5,778,170					5,724,744					5,768,167					5,632,974
Consumer:
Auto			776,433					751,283					732,351					718,501					698,897
Non-Auto			148,399					143,680					146,443					145,808					148,649
Total Consumer			924,832					894,963					878,794					864,309					847,546
Total loans held-for-investment	$		8,346,931			$		8,285,120			$		8,158,276			$		8,243,625			$		8,074,944

SUMMARY OF LOAN CLASSIFICATION
Special Mention	$		48,486			$		66,864			$		66,058			$		76,647			$		62,774
Substandard			234,618					222,895					189,548					176,311					194,291
Total classified loans	$		283,104			$		289,759			$		255,606			$		252,958			$		257,065

NONPERFORMING ASSETS
Nonaccrual loans	$		63,310			$		52,129			$		55,121			$		56,394			$		63,142
Accruing loans 90 days past due			958					218					892					151					77
Total nonperforming loans			64,268					52,347					56,013					56,545					63,219
Foreclosed assets			2,770					1,962					479					1,997					489
Total nonperforming assets	$		67,038			$		54,309			$		56,492			$		58,542			$		63,708
As a % of loans held-for-investment and foreclosed assets			0.80		%			0.66		%			0.69		%			0.71		%			0.79		%
As a % of end of period total assets			0.44					0.35					0.37					0.39					0.44

FIRST FINANCIAL BANKSHARES, INC.

SELECTED FINANCIAL DATA (UNAUDITED)

(In thousands)

	Quarter Ended
		2026										2025
CAPITAL RATIOS		June 30,					Mar. 31,					Dec. 31,					Sept. 30,					June 30,
Common equity Tier 1 capital ratio			20.40		%			20.23		%			19.99		%			19.10		%			19.16		%
Tier 1 capital ratio			20.40					20.23					19.99					19.10					19.16
Total capital ratio			21.62					21.42					21.17					20.29					20.35
Tier 1 leverage ratio			12.88					12.58					12.55					12.34					12.61
Tangible common equity ratio			11.23					10.81					10.60					10.44					10.12
Equity/Assets ratio			13.05					12.63					12.41					12.33					12.08

	Quarter Ended
		2026										2025
NONINTEREST INCOME		June 30,					Mar. 31,					Dec. 31,					Sept. 30,					June 30,
Wealth Management fees	$		13,960			$		13,363			$		13,512			$		12,950			$		12,746
Service charges on deposits			6,263					6,077					6,140					6,447					6,126
Debit card fees			5,584					5,245					5,791					5,333					5,218
Credit card fees			734					651					678					699					707
Gain on sale and fees on mortgage loans			4,679					4,277					4,216					4,375					4,126
Net gain (loss) on sale of foreclosed assets			(19	)				(56	)				(12	)				(122	)				200
Net gain (loss) on sale of assets			(374	)				-					-					-					6
Other noninterest income			5,017					2,539					3,024					4,582					3,744
Total noninterest income	$		35,844			$		32,096			$		33,349			$		34,264			$		32,873

NONINTEREST EXPENSE
Salaries, commissions and employee benefits, excluding profit sharing	$		46,216			$		42,959			$		42,409			$		40,681			$		39,834
Profit sharing expense			3,444					3,023					4,819					1,924					2,741
Net occupancy expense			3,728					3,630					3,458					3,545					3,600
Equipment expense			2,169					2,158					2,128					2,395					2,478
FDIC insurance premiums			1,767					1,560					1,695					1,635					1,585
Debit card expense			3,043					3,108					3,265					3,512					3,308
Legal, tax and professional fees			4,159					3,834					3,079					3,332					3,143
Audit fees			441					455					531					536					463
Printing, stationery and supplies			292					623					528					456					473
Amortization of intangible assets			43					43					86					86					86
Advertising, meals and public relations			1,849					1,701					1,923					1,714					1,653
Operational and other losses			801					1,000					1,583					1,957					720
Software amortization and expense			5,053					4,594					4,456					4,280					4,020
Other noninterest expense			8,101					8,080					7,690					7,613					7,631
Total noninterest expense	$		81,106			$		76,768			$		77,650			$		73,666			$		71,735
TAX EQUIVALENT YIELD ADJUSTMENT	$		3,799			$		3,791			$		3,709			$		3,406			$		2,926

FIRST FINANCIAL BANKSHARES, INC.

SELECTED FINANCIAL DATA (UNAUDITED)

(In thousands)

	Six Months Ended
	June 30,
NONINTEREST INCOME		2026					2025
Wealth Management fees	$		27,323			$		25,399
Service charges on deposits			12,340					12,302
Debit card fees			10,829					10,185
Credit card fees			1,385					1,284
Gain on sale and fees on mortgage loans			8,955					6,958
Net gain (loss) on sale of foreclosed assets			(75	)				165
Net gain (loss) on sale of assets			(374	)				6
Other noninterest income			7,557					6,804
Total noninterest income	$		67,940			$		63,103

NONINTEREST EXPENSE
Salaries, commissions and employee benefits, excluding profit sharing	$		89,175			$		78,991
Profit sharing expense			6,467					5,726
Net occupancy expense			7,359					7,320
Equipment expense			4,328					4,799
FDIC insurance premiums			3,326					3,160
Debit card expense			6,151					6,680
Legal, tax and professional fees			7,993					6,209
Audit fees			896					914
Printing, stationery and supplies			915					955
Amortization of intangible assets			86					181
Advertising, meals and public relations			3,550					3,332
Operational and other losses			1,801					1,260
Software amortization and expense			9,646					7,753
Other noninterest expense			16,181					14,790
Total noninterest expense	$		157,874			$		142,070
TAX EQUIVALENT YIELD ADJUSTMENT	$		7,590			$		5,626

FIRST FINANCIAL BANKSHARES, INC.

SELECTED FINANCIAL DATA (UNAUDITED)

(In thousands)

	Three Months Ended																		Three Months Ended
	June 30, 2026																		Mar. 31, 2026
		Average					Tax Equivalent					Yield /								Average					Tax Equivalent					Yield /
		Balance					Interest					Rate								Balance					Interest					Rate
Interest-earning assets:
Federal funds sold	$		4,642			$		43					3.72		%				$		4,565			$		40					3.55		%
Interest-bearing demand deposits in nonaffiliated banks			333,359					3,074					3.70								461,579					4,209					3.70
Taxable securities			4,091,117					33,666					3.29								4,076,690					32,283					3.17
Tax-exempt securities			1,709,709					14,134					3.31								1,726,765					14,184					3.29
Loans			8,317,815					138,841					6.70								8,273,995					136,020					6.67
Total interest-earning assets			14,456,642			$		189,758					5.26		%						14,543,594			$		186,736					5.21		%
Noninterest-earning assets			833,268																		821,635
Total assets	$		15,289,910																$		15,365,229
Interest-bearing liabilities:
Deposits	$		9,676,860			$		48,697					2.02		%				$		9,824,362			$		47,851					1.98		%
Repurchase Agreements			60,403					223					1.48								62,849					229					1.48
Borrowings			28,459					125					1.76								22,155					74					1.35
Total interest-bearing liabilities			9,765,722			$		49,045					2.01		%						9,909,366			$		48,154					1.97		%
Noninterest-bearing deposits			3,445,033																		3,401,092
Other noninterest-bearing liabilities			116,944																		97,986
Shareholders' equity			1,962,211																		1,956,785
Total liabilities and shareholders' equity	$		15,289,910																$		15,365,229
Net interest income and margin (tax equivalent)						$		140,713					3.90		%									$		138,582					3.86		%
	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		%

FIRST FINANCIAL BANKSHARES, INC.

SELECTED FINANCIAL DATA (UNAUDITED)

(In thousands)

	Three Months Ended
	June 30, 2025
		Average					Tax Equivalent					Yield /
		Balance					Interest					Rate
Interest-earning assets:
Federal funds sold	$		9,397			$		113					4.84		%
Interest-bearing demand deposits in nonaffiliated banks			379,364					4,191					4.43
Taxable securities			3,470,028					25,242					2.91
Tax-exempt securities			1,433,498					10,811					3.02
Loans			8,045,340					135,378					6.75
Total interest-earning assets			13,337,627			$		175,735					5.28		%
Noninterest-earning assets			826,635
Total assets	$		14,164,262
Interest-bearing liabilities:
Deposits	$		8,923,737			$		48,730					2.19		%
Repurchase Agreements			54,482					221					1.63
Borrowings			26,557					128					1.93
Total interest-bearing liabilities			9,004,776			$		49,079					2.19		%
Noninterest-bearing deposits			3,383,851
Other noninterest-bearing liabilities			85,745
Shareholders' equity			1,689,890
Total liabilities and shareholders' equity	$		14,164,262
Net interest income and margin (tax equivalent)						$		126,656					3.81		%

	Six Months Ended																		Six Months Ended
	June 30, 2026																		June 30, 2025
		Average					Tax Equivalent					Yield /								Average					Tax Equivalent					Yield /
		Balance					Interest					Rate								Balance					Interest					Rate
Interest-earning assets:
Federal funds sold	$		4,604			$		83					3.64		%				$		8,501			$		203					4.82		%
Interest-bearing deposits in nonaffiliated banks			397,115					7,283					3.70								332,960					7,365					4.46
Taxable securities			4,083,944					65,949					3.23								3,487,932					50,277					2.88
Tax exempt securities			1,718,190					28,319					3.30								1,420,541					20,723					2.92
Loans			8,296,026					274,861					6.68								7,999,398					266,977					6.73
Total interest-earning assets			14,499,879			$		376,495					5.24		%						13,249,332			$		345,545					5.26		%
Noninterest-earning assets			827,502																		828,336
Total assets	$		15,327,381																$		14,077,668
Interest-bearing liabilities:
Deposits	$		9,750,203			$		96,548					2.00		%				$		8,903,004			$		96,280					2.18		%
Repurchase Agreements			61,619					452					1.48								54,203					430					1.60
Borrowings			25,324					200					1.59								50,426					690					2.76
Total interest-bearing liabilities			9,837,146			$		97,200					1.99		%						9,007,633			$		97,400					2.18		%
Noninterest-bearing deposits			3,423,184																		3,325,170
Other noninterest-bearing liabilities			107,518																		77,030
Shareholders' equity			1,959,533																		1,667,835
Total liabilities and shareholders' equity	$		15,327,381																$		14,077,668
Net interest income and margin (tax equivalent)						$		279,295					3.88		%									$		248,145					3.78		%

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