First Financial Bankshares Q3 profit rises to $74.3M
Net interest margin was 3.91%, while the securities portfolio had $489.55 million in unrealized losses, net of tax.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
First Financial Bankshares, Inc. (FFIN) reported third-quarter 2026 net income of $74.31 million, compared with $52.27 million in third-quarter 2025 and $71.89 million in second-quarter 2026. Diluted earnings per share were $0.52, versus $0.36 and $0.50, respectively. Net interest income was $138.51 million, and tax-equivalent net interest margin was 3.91%, compared with 3.80% a year earlier. For the first nine months of 2026, net income was $217.75 million versus $180.27 million for the same nine-month period of 2025.
At September 30, 2026, total assets were $15.16 billion, loans held for investment were $8.54 billion, and deposits and repurchase agreements were $13.19 billion. The allowance for credit losses was $113.89 million, or 1.33% of loans; nonperforming assets were 0.71% of loans and foreclosed assets, and classified loans totaled $294.49 million. Shareholders’ equity was $1.83 billion, down from $2.00 billion at June 30, primarily due to a $209.89 million increase in the securities portfolio’s unrealized loss, net of tax; that loss totaled $489.55 million at September 30. First Financial plans to open its new Bee Cave location later this month, its first full-service branch in the Austin market.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointThird-quarter net income: $74.31 million, versus $52.27 million a year earlier.
Negative
- Major pointSecurities portfolio unrealized losses totaled $489.55 million, net of tax, at September 30.
Insights
Analyzing...
8-K Event Classification
Key Figures
Key Terms
Net interest margin (tax equivalent) financial
Allowance for credit losses financial
Nonperforming assets financial
Classified loans financial
Earnings Snapshot
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How much did FFIN loans grow in the third quarter of 2026?
What were FFIN’s net charge-offs in the third quarter of 2026?
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
|
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
Date of Report (Date of Earliest Event Reported):
(Exact name of registrant as specified in its Charter)
(State or other jurisdiction of incorporation or organization) |
(Commission |
(I.R.S. Employer Identification No.) |
|
|
|
|
|
|
|
(Address of Principal Executive Offices and Zip Code) |
|
|
|
|
|
Registrant’s Telephone Number ( |
|
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 |
|
Name of each exchange |
|
|
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 September 30, 2026 of First Financial Bankshares, Inc.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
99.1 Press Release dated October 15, 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: October 16, 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 THIRD QUARTER 2026 EARNINGS
ABILENE, Texas, October 15, 2026 - First Financial Bankshares, Inc. (the “Company,” “we,” “us” or “our”) (NASDAQ: FFIN) today reported earnings of $74.31 million for the third quarter of 2026 compared to earnings of $52.27 million for the same quarter a year ago and $71.89 million for the quarter ended June 30, 2026. Diluted earnings per share were $0.52 for the third quarter of 2026 compared with $0.36 for the third quarter of 2025 and $0.50 for the linked quarter.
“We are pleased to report another record quarter of net income, largely driven by continued expansion of our net interest margin,” said David Bailey, President and CEO. “As we enter the final quarter of the year, we remain focused on disciplined balance sheet growth and prudent risk management. We are also excited to open our new Bee Cave location later this month, establishing our first full-service branch in the Austin market and an important step in our continued expansion across Texas. We appreciate our dedicated team of First Financial bankers whose commitment to our customers and shareholders drives our success every day.”
Net interest income for the third quarter of 2026 was $138.51 million compared to $127.00 million for the third quarter of 2025 and $136.91 million for the linked quarter. The net interest margin, on a tax-equivalent basis, was 3.91 percent for the third quarter of 2026 compared to 3.80 percent for the third quarter of 2025 and 3.90 percent for the linked quarter. Average interest-earning assets were $14.43 billion for the third quarter of 2026 compared to $13.60 billion for the same quarter a year ago and $14.46 billion for the linked quarter.
The Company recorded a provision for credit losses of $2.03 million for the third quarter of 2026 compared to a provision for credit losses of $24.44 million for the third quarter of 2025 and $4.18 million for the linked quarter. The third quarter of 2025 provision was driven by a large loan charged off due to borrower fraud. At September 30, 2026, the allowance for credit losses totaled $113.89 million, or 1.33 percent of loans held-for-investment (“loans” hereafter), compared to $105.96 million, or 1.29 percent of loans, at September 30, 2025, and $112.43 million, or 1.35 percent of loans, at June 30, 2026. Additionally, the reserve for unfunded commitments totaled $5.85 million at September 30, 2026 compared to $8.84 million at September 30, 2025 and $6.21 million at June 30, 2026.
For the third quarter of 2026, the Company recorded net charge offs of $935 thousand compared to net charge-offs of $22.34 million for the third quarter of 2025 and net recoveries of $600 thousand for the linked quarter. Nonperforming assets as a percentage of loans and foreclosed assets totaled 0.71 percent at September 30, 2026, compared to 0.71 percent at September 30, 2025 and 0.80 percent at June 30, 2026. Classified loans totaled $294.49 million at September 30, 2026, compared to $252.96 million at September 30, 2025 and $283.10 million at June 30, 2026.
Noninterest income for the third quarter of 2026 was $35.64 million compared to $34.26 million for the third quarter of 2025 and $35.84 million for the linked quarter.
Noninterest expense for the third quarter of 2026 totaled $81.05 million compared to $73.67 million for the third quarter of 2025 and $81.11 million for the linked quarter.
The Company’s efficiency ratio was 45.59 percent for the third quarter of 2026 compared to 44.74 percent for the third quarter of 2025 and 45.94 percent for the linked quarter.
As of September 30, 2026, consolidated total assets were $15.16 billion compared to $14.84 billion at September 30, 2025 and $15.31 billion at June 30, 2026. Loans totaled $8.54 billion at September 30, 2026, compared with loans of $8.24 billion at September 30, 2025 and $8.35 billion at June 30, 2026. During the third quarter of 2026, loans grew $191.86 million, or 9.12 percent annualized, when compared to June 30, 2026 balances. Loans have grown $380.51 million, or 6.24 percent annualized, year-to-date. Deposits and repurchase agreements totaled $13.19 billion at September 30, 2026, compared to $12.90 billion at September 30, 2025 and $13.17 billion at June 30, 2026. During the third quarter of 2026, noninterest-bearing deposits grew $67.07 million, or 7.65 percent annualized, when compared to June 30, 2026 balances. Noninterest-bearing deposits have grown $144.77 million, or 5.69 percent annualized, year-to-date.
Shareholders’ equity was $1.83 billion as of September 30, 2026, compared to $1.83 billion and $2.00 billion at September 30, 2025 and June 30, 2026, respectively. Shareholders’ equity was down compared to the linked quarter primarily due to the increase in the unrealized loss on the securities portfolio of $209.89 million, net of tax. The unrealized loss on the securities portfolio, net of applicable tax, totaled $489.55 million at September 30, 2026, compared to unrealized losses of $308.58 million at September 30, 2025 and $279.67 million at June 30, 2026, due to changes in long term 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 81 locations in Texas, including Abilene, Acton, Albany, Aledo, Alvarado, Austin/Bee Cave, 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 |
|
Sept. 30, |
|
|
|
June 30, |
|
|
|
Mar. 31, |
|
|
|
Dec. 31, |
|
|
|
Sept. 30, |
|
|
|||||
Cash and due from banks |
$ |
|
178,819 |
|
|
$ |
|
284,759 |
|
|
$ |
|
264,850 |
|
|
$ |
|
249,466 |
|
|
$ |
|
237,466 |
|
|
Interest-bearing demand deposits in banks |
|
|
292,778 |
|
|
|
|
286,973 |
|
|
|
|
458,203 |
|
|
|
|
826,947 |
|
|
|
|
401,580 |
|
|
Federal funds sold |
|
|
2,875 |
|
|
|
|
8,650 |
|
|
|
|
14,075 |
|
|
|
|
1,575 |
|
|
|
|
11,750 |
|
|
Investment securities |
|
|
5,388,083 |
|
|
|
|
5,675,957 |
|
|
|
|
5,668,792 |
|
|
|
|
5,514,113 |
|
|
|
|
5,260,813 |
|
|
Loans, held-for-investment |
|
|
8,538,788 |
|
|
|
|
8,346,931 |
|
|
|
|
8,285,120 |
|
|
|
|
8,158,276 |
|
|
|
|
8,243,625 |
|
|
Allowance for credit losses |
|
|
(113,892 |
) |
|
|
|
(112,433 |
) |
|
|
|
(107,918 |
) |
|
|
|
(105,536 |
) |
|
|
|
(105,958 |
) |
|
Net loans, held-for-investment |
|
|
8,424,896 |
|
|
|
|
8,234,498 |
|
|
|
|
8,177,202 |
|
|
|
|
8,052,740 |
|
|
|
|
8,137,667 |
|
|
Loans, held-for-sale |
|
|
25,521 |
|
|
|
|
23,616 |
|
|
|
|
22,984 |
|
|
|
|
29,992 |
|
|
|
|
26,015 |
|
|
Premises and equipment, net |
|
|
158,822 |
|
|
|
|
155,560 |
|
|
|
|
150,989 |
|
|
|
|
149,985 |
|
|
|
|
149,651 |
|
|
Goodwill |
|
|
313,481 |
|
|
|
|
313,481 |
|
|
|
|
313,481 |
|
|
|
|
313,481 |
|
|
|
|
313,481 |
|
|
Other intangible assets |
|
|
43 |
|
|
|
|
86 |
|
|
|
|
128 |
|
|
|
|
171 |
|
|
|
|
257 |
|
|
Other assets |
|
|
377,549 |
|
|
|
|
322,857 |
|
|
|
|
316,941 |
|
|
|
|
308,006 |
|
|
|
|
302,848 |
|
|
Total assets |
$ |
|
15,162,867 |
|
|
$ |
|
15,306,437 |
|
|
$ |
|
15,387,645 |
|
|
$ |
|
15,446,476 |
|
|
$ |
|
14,841,528 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
LIABILITIES AND SHAREHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Noninterest-bearing deposits |
$ |
|
3,545,829 |
|
|
$ |
|
3,478,755 |
|
|
$ |
|
3,385,878 |
|
|
$ |
|
3,401,057 |
|
|
$ |
|
3,446,262 |
|
|
Interest-bearing deposits |
|
|
9,602,314 |
|
|
|
|
9,641,228 |
|
|
|
|
9,859,359 |
|
|
|
|
9,944,472 |
|
|
|
|
9,399,986 |
|
|
Total deposits |
|
|
13,148,143 |
|
|
|
|
13,119,983 |
|
|
|
|
13,245,237 |
|
|
|
|
13,345,529 |
|
|
|
|
12,846,248 |
|
|
Repurchase agreements |
|
|
43,088 |
|
|
|
|
53,656 |
|
|
|
|
67,946 |
|
|
|
|
62,956 |
|
|
|
|
50,646 |
|
|
Borrowings |
|
|
21,854 |
|
|
|
|
21,829 |
|
|
|
|
22,306 |
|
|
|
|
21,680 |
|
|
|
|
21,956 |
|
|
Other liabilities |
|
|
117,222 |
|
|
|
|
114,082 |
|
|
|
|
108,305 |
|
|
|
|
98,994 |
|
|
|
|
92,410 |
|
|
Shareholders' equity |
|
|
1,832,560 |
|
|
|
|
1,996,887 |
|
|
|
|
1,943,851 |
|
|
|
|
1,917,317 |
|
|
|
|
1,830,268 |
|
|
Total liabilities and shareholders' equity |
$ |
|
15,162,867 |
|
|
$ |
|
15,306,437 |
|
|
$ |
|
15,387,645 |
|
|
$ |
|
15,446,476 |
|
|
$ |
|
14,841,528 |
|
|
|
Quarter Ended |
||||||||||||||||||||||||
|
|
2026 |
|
|
|
2025 |
|
|
|||||||||||||||||
INCOME STATEMENTS |
|
Sept. 30, |
|
|
|
June 30, |
|
|
|
Mar. 31, |
|
|
|
Dec. 31, |
|
|
|
Sept. 30, |
|
|
|||||
Interest income |
$ |
|
189,045 |
|
|
$ |
|
185,960 |
|
|
$ |
|
182,945 |
|
|
$ |
|
182,869 |
|
|
$ |
|
179,692 |
|
|
Interest expense |
|
|
50,538 |
|
|
|
|
49,046 |
|
|
|
|
48,154 |
|
|
|
|
51,501 |
|
|
|
|
52,691 |
|
|
Net interest income |
|
|
138,507 |
|
|
|
|
136,914 |
|
|
|
|
134,791 |
|
|
|
|
131,368 |
|
|
|
|
127,001 |
|
|
Provision for credit losses |
|
|
2,034 |
|
|
|
|
4,183 |
|
|
|
|
2,291 |
|
|
|
|
(2,486 |
) |
|
|
|
24,435 |
|
|
Net interest income after provision for credit losses |
|
|
136,473 |
|
|
|
|
132,731 |
|
|
|
|
132,500 |
|
|
|
|
133,854 |
|
|
|
|
102,566 |
|
|
Noninterest income |
|
|
35,635 |
|
|
|
|
35,844 |
|
|
|
|
32,096 |
|
|
|
|
33,349 |
|
|
|
|
34,264 |
|
|
Noninterest expense |
|
|
81,052 |
|
|
|
|
81,106 |
|
|
|
|
76,768 |
|
|
|
|
77,650 |
|
|
|
|
73,666 |
|
|
Net income before income taxes |
|
|
91,056 |
|
|
|
|
87,469 |
|
|
|
|
87,828 |
|
|
|
|
89,553 |
|
|
|
|
63,164 |
|
|
Income tax expense |
|
|
16,748 |
|
|
|
|
15,575 |
|
|
|
|
16,285 |
|
|
|
|
16,239 |
|
|
|
|
10,897 |
|
|
Net income |
$ |
|
74,308 |
|
|
$ |
|
71,894 |
|
|
$ |
|
71,543 |
|
|
$ |
|
73,314 |
|
|
$ |
|
52,267 |
|
|
PER COMMON SHARE DATA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Net income - basic |
$ |
|
0.52 |
|
|
$ |
|
0.50 |
|
|
$ |
|
0.50 |
|
|
$ |
|
0.51 |
|
|
$ |
|
0.37 |
|
|
Net income - diluted |
|
|
0.52 |
|
|
|
|
0.50 |
|
|
|
|
0.50 |
|
|
|
|
0.51 |
|
|
|
|
0.36 |
|
|
Cash dividends declared |
|
|
0.22 |
|
|
|
|
0.22 |
|
|
|
|
0.19 |
|
|
|
|
0.19 |
|
|
|
|
0.19 |
|
|
Book value |
|
|
12.78 |
|
|
|
|
13.93 |
|
|
|
|
13.57 |
|
|
|
|
13.39 |
|
|
|
|
12.78 |
|
|
Tangible book value |
|
|
10.59 |
|
|
|
|
11.75 |
|
|
|
|
11.38 |
|
|
|
|
11.20 |
|
|
|
|
10.59 |
|
|
Market value |
|
|
31.74 |
|
|
|
|
34.60 |
|
|
|
|
29.45 |
|
|
|
|
29.87 |
|
|
|
|
33.65 |
|
|
Shares outstanding - end of period |
|
|
143,397,258 |
|
|
|
|
143,319,824 |
|
|
|
|
143,279,030 |
|
|
|
|
143,213,102 |
|
|
|
|
143,188,051 |
|
|
Average outstanding shares - basic |
|
|
143,336,014 |
|
|
|
|
143,280,452 |
|
|
|
|
143,210,755 |
|
|
|
|
143,180,215 |
|
|
|
|
143,105,224 |
|
|
Average outstanding shares - diluted |
|
|
143,726,667 |
|
|
|
|
143,698,421 |
|
|
|
|
143,608,079 |
|
|
|
|
143,542,801 |
|
|
|
|
143,474,169 |
|
|
PERFORMANCE RATIOS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Return on average assets |
|
|
1.93 |
|
% |
|
|
1.89 |
|
% |
|
|
1.89 |
|
% |
|
|
1.94 |
|
% |
|
|
1.44 |
|
% |
Return on average equity |
|
|
15.02 |
|
|
|
|
14.70 |
|
|
|
|
14.83 |
|
|
|
|
15.62 |
|
|
|
|
11.85 |
|
|
Return on average tangible equity |
|
|
17.87 |
|
|
|
|
17.49 |
|
|
|
|
17.66 |
|
|
|
|
18.78 |
|
|
|
|
14.44 |
|
|
Net interest margin (tax equivalent) |
|
|
3.91 |
|
|
|
|
3.90 |
|
|
|
|
3.86 |
|
|
|
|
3.81 |
|
|
|
|
3.80 |
|
|
Efficiency ratio |
|
|
45.59 |
|
|
|
|
45.94 |
|
|
|
|
44.98 |
|
|
|
|
46.10 |
|
|
|
|
44.74 |
|
|
FIRST FINANCIAL BANKSHARES, INC.
CONSOLIDATED FINANCIAL SUMMARY (UNAUDITED)
(In thousands, except share and per share data)
|
Nine Months Ended |
|||||||||
|
Sept. 30, |
|||||||||
INCOME STATEMENTS |
|
2026 |
|
|
|
2025 |
|
|
||
Interest income |
$ |
|
557,950 |
|
|
$ |
|
519,612 |
|
|
Interest expense |
|
|
147,738 |
|
|
|
|
150,092 |
|
|
Net interest income |
|
|
410,212 |
|
|
|
|
369,520 |
|
|
Provision for credit losses |
|
|
8,508 |
|
|
|
|
31,095 |
|
|
Net interest income after provisions for credit losses |
|
|
401,704 |
|
|
|
|
338,425 |
|
|
Noninterest income |
|
|
103,575 |
|
|
|
|
97,366 |
|
|
Noninterest expense |
|
|
238,926 |
|
|
|
|
215,736 |
|
|
Net income before income taxes |
|
|
266,353 |
|
|
|
|
220,055 |
|
|
Income tax expense |
|
|
48,608 |
|
|
|
|
39,785 |
|
|
Net income |
$ |
|
217,745 |
|
|
$ |
|
180,270 |
|
|
|
|
|
|
|
|
|
|
|
||
PER COMMON SHARE DATA |
|
|
|
|
|
|
|
|
||
Net income - basic |
$ |
|
1.52 |
|
|
$ |
|
1.26 |
|
|
Net income - diluted |
|
|
1.51 |
|
|
|
|
1.26 |
|
|
Cash dividends declared |
|
|
0.63 |
|
|
|
|
0.56 |
|
|
Book value |
|
|
12.78 |
|
|
|
|
12.78 |
|
|
Tangible book value |
|
|
10.59 |
|
|
|
|
10.59 |
|
|
Market value |
$ |
|
31.74 |
|
|
$ |
|
33.65 |
|
|
Shares outstanding - end of period |
|
|
143,397,258 |
|
|
|
|
143,188,051 |
|
|
Average outstanding shares - basic |
|
|
143,276,199 |
|
|
|
|
143,026,664 |
|
|
Average outstanding shares - diluted |
|
|
143,741,994 |
|
|
|
|
143,422,534 |
|
|
PERFORMANCE RATIOS |
|
|
|
|
|
|
|
|
||
Return on average assets |
|
|
1.90 |
|
% |
|
|
1.70 |
|
% |
Return on average equity |
|
|
14.85 |
|
|
|
|
14.22 |
|
|
Return on average tangible equity |
|
|
17.68 |
|
|
|
|
17.46 |
|
|
Net interest margin (tax equivalent) |
|
|
3.89 |
|
|
|
|
3.79 |
|
|
Efficiency ratio |
|
|
45.51 |
|
|
|
|
45.33 |
|
|
FIRST FINANCIAL BANKSHARES, INC.
SELECTED FINANCIAL DATA (UNAUDITED)
(In thousands)
|
Quarter Ended |
||||||||||||||||||||||||
|
|
2026 |
|
|
|
2025 |
|
|
|||||||||||||||||
ALLOWANCE FOR LOAN LOSSES |
|
Sept. 30, |
|
|
|
June 30, |
|
|
|
Mar. 31, |
|
|
|
Dec. 31, |
|
|
|
Sept. 30, |
|
|
|||||
Balance at beginning of period |
$ |
|
112,433 |
|
|
$ |
|
107,918 |
|
|
$ |
|
105,536 |
|
|
$ |
|
105,958 |
|
|
$ |
|
102,792 |
|
|
Loans charged-off |
|
|
(1,740 |
) |
|
|
|
(961 |
) |
|
|
|
(1,174 |
) |
|
|
|
(3,387 |
) |
|
|
|
(22,612 |
) |
|
Loan recoveries |
|
|
805 |
|
|
|
|
1,561 |
|
|
|
|
818 |
|
|
|
|
2,996 |
|
|
|
|
272 |
|
|
Net recoveries (charge-offs) |
|
|
(935 |
) |
|
|
|
600 |
|
|
|
|
(356 |
) |
|
|
|
(391 |
) |
|
|
|
(22,340 |
) |
|
Provision for loan losses |
|
|
2,394 |
|
|
|
|
3,915 |
|
|
|
|
2,738 |
|
|
|
|
(31 |
) |
|
|
|
25,506 |
|
|
Balance at end of period |
$ |
|
113,892 |
|
|
$ |
|
112,433 |
|
|
$ |
|
107,918 |
|
|
$ |
|
105,536 |
|
|
$ |
|
105,958 |
|
|
ALLOWANCE FOR UNFUNDED COMMITMENTS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Balance at beginning of period |
$ |
|
6,208 |
|
|
$ |
|
5,940 |
|
|
$ |
|
6,387 |
|
|
$ |
|
8,842 |
|
|
$ |
|
9,914 |
|
|
Provision for unfunded commitments |
|
|
(360 |
) |
|
|
|
268 |
|
|
|
|
(447 |
) |
|
|
|
(2,455 |
) |
|
|
|
(1,072 |
) |
|
Balance at end of period |
$ |
|
5,848 |
|
|
$ |
|
6,208 |
|
|
$ |
|
5,940 |
|
|
$ |
|
6,387 |
|
|
$ |
|
8,842 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Allowance for loan losses / |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
period-end loans held-for-investment |
|
|
1.33 |
|
% |
|
|
1.35 |
% |
% |
|
|
1.30 |
|
% |
|
|
1.29 |
|
% |
|
|
1.29 |
|
% |
Allowance for loan losses / |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
nonperforming loans |
|
|
199.19 |
|
|
|
|
174.94 |
|
|
|
|
206.16 |
|
|
|
|
188.41 |
|
|
|
|
187.39 |
|
|
Net charge-offs (recoveries) / average total loans |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
(annualized) |
|
|
0.04 |
|
|
|
|
(0.03 |
) |
|
|
|
0.02 |
|
|
|
|
0.02 |
|
|
|
|
1.07 |
|
|
|
Quarter Ended |
||||||||||||||||||||||||
|
|
2026 |
|
|
|
2025 |
|
|
|||||||||||||||||
COMPOSITION OF LOANS HELD-FOR-INVESTMENT |
|
Sept. 30, |
|
|
|
June 30, |
|
|
|
Mar. 31, |
|
|
|
Dec. 31, |
|
|
|
Sept. 30, |
|
|
|||||
Commercial: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
C&I |
$ |
|
1,164,597 |
|
|
$ |
|
1,087,656 |
|
|
$ |
|
1,149,931 |
|
|
$ |
|
1,116,461 |
|
|
$ |
|
1,174,770 |
|
|
Municipal |
|
|
444,341 |
|
|
|
|
419,070 |
|
|
|
|
384,473 |
|
|
|
|
342,501 |
|
|
|
|
347,559 |
|
|
Total Commercial |
|
|
1,608,938 |
|
|
|
|
1,506,726 |
|
|
|
|
1,534,404 |
|
|
|
|
1,458,962 |
|
|
|
|
1,522,329 |
|
|
Agricultural |
|
|
79,796 |
|
|
|
|
81,786 |
|
|
|
|
77,583 |
|
|
|
|
95,776 |
|
|
|
|
88,820 |
|
|
Real Estate: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Construction & Development |
|
|
1,089,540 |
|
|
|
|
1,191,082 |
|
|
|
|
1,169,037 |
|
|
|
|
1,157,865 |
|
|
|
|
1,214,649 |
|
|
Farm |
|
|
349,484 |
|
|
|
|
344,483 |
|
|
|
|
329,151 |
|
|
|
|
327,625 |
|
|
|
|
322,710 |
|
|
Non-Owner Occupied CRE |
|
|
919,847 |
|
|
|
|
831,929 |
|
|
|
|
825,771 |
|
|
|
|
832,816 |
|
|
|
|
802,675 |
|
|
Owner Occupied CRE |
|
|
1,161,530 |
|
|
|
|
1,144,093 |
|
|
|
|
1,132,114 |
|
|
|
|
1,120,608 |
|
|
|
|
1,119,425 |
|
|
Residential |
|
|
2,358,106 |
|
|
|
|
2,322,000 |
|
|
|
|
2,322,097 |
|
|
|
|
2,285,830 |
|
|
|
|
2,308,708 |
|
|
Total Real Estate |
|
|
5,878,507 |
|
|
|
|
5,833,587 |
|
|
|
|
5,778,170 |
|
|
|
|
5,724,744 |
|
|
|
|
5,768,167 |
|
|
Consumer: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Auto |
|
|
817,771 |
|
|
|
|
776,433 |
|
|
|
|
751,283 |
|
|
|
|
732,351 |
|
|
|
|
718,501 |
|
|
Non-Auto |
|
|
153,776 |
|
|
|
|
148,399 |
|
|
|
|
143,680 |
|
|
|
|
146,443 |
|
|
|
|
145,808 |
|
|
Total Consumer |
|
|
971,547 |
|
|
|
|
924,832 |
|
|
|
|
894,963 |
|
|
|
|
878,794 |
|
|
|
|
864,309 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Total loans held-for-investment |
$ |
|
8,538,788 |
|
|
$ |
|
8,346,931 |
|
|
$ |
|
8,285,120 |
|
|
$ |
|
8,158,276 |
|
|
$ |
|
8,243,625 |
|
|
SUMMARY OF LOAN CLASSIFICATION |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Special Mention |
$ |
|
65,080 |
|
|
$ |
|
48,486 |
|
|
$ |
|
66,864 |
|
|
$ |
|
66,058 |
|
|
$ |
|
76,647 |
|
|
Substandard |
|
|
229,405 |
|
|
|
|
234,618 |
|
|
|
|
222,895 |
|
|
|
|
189,548 |
|
|
|
|
176,311 |
|
|
Total classified loans |
$ |
|
294,485 |
|
|
$ |
|
283,104 |
|
|
$ |
|
289,759 |
|
|
$ |
|
255,606 |
|
|
$ |
|
252,958 |
|
|
NONPERFORMING ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Nonaccrual loans |
$ |
|
57,158 |
|
|
$ |
|
63,310 |
|
|
$ |
|
52,129 |
|
|
$ |
|
55,121 |
|
|
$ |
|
56,394 |
|
|
Accruing loans 90 days past due |
|
|
19 |
|
|
|
|
958 |
|
|
|
|
218 |
|
|
|
|
892 |
|
|
|
|
151 |
|
|
Total nonperforming loans |
|
|
57,177 |
|
|
|
|
64,268 |
|
|
|
|
52,347 |
|
|
|
|
56,013 |
|
|
|
|
56,545 |
|
|
Foreclosed assets |
|
|
3,277 |
|
|
|
|
2,770 |
|
|
|
|
1,962 |
|
|
|
|
479 |
|
|
|
|
1,997 |
|
|
Total nonperforming assets |
$ |
|
60,454 |
|
|
$ |
|
67,038 |
|
|
$ |
|
54,309 |
|
|
$ |
|
56,492 |
|
|
$ |
|
58,542 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
As a % of loans held-for-investment and foreclosed assets |
|
|
0.71 |
|
% |
|
|
0.80 |
|
% |
|
|
0.66 |
|
% |
|
|
0.69 |
|
% |
|
|
0.71 |
|
% |
As a % of end of period total assets |
|
|
0.40 |
|
|
|
|
0.44 |
|
|
|
|
0.35 |
|
|
|
|
0.37 |
|
|
|
|
0.39 |
|
|
FIRST FINANCIAL BANKSHARES, INC.
SELECTED FINANCIAL DATA (UNAUDITED)
(In thousands)
|
Quarter Ended |
||||||||||||||||||||||||
|
|
2026 |
|
|
|
2025 |
|
|
|||||||||||||||||
CAPITAL RATIOS |
|
Sept. 30, |
|
|
|
June 30, |
|
|
|
Mar. 31, |
|
|
|
Dec. 31, |
|
|
|
Sept. 30, |
|
|
|||||
Common equity Tier 1 capital ratio |
|
|
20.45 |
|
% |
|
|
20.40 |
|
% |
|
|
20.23 |
|
% |
|
|
19.99 |
|
% |
|
|
19.10 |
|
% |
Tier 1 capital ratio |
|
|
20.45 |
|
|
|
|
20.40 |
|
|
|
|
20.23 |
|
|
|
|
19.99 |
|
|
|
|
19.10 |
|
|
Total capital ratio |
|
|
21.66 |
|
|
|
|
21.62 |
|
|
|
|
21.42 |
|
|
|
|
21.17 |
|
|
|
|
20.29 |
|
|
Tier 1 leverage ratio |
|
|
13.12 |
|
|
|
|
12.88 |
|
|
|
|
12.58 |
|
|
|
|
12.55 |
|
|
|
|
12.34 |
|
|
Tangible common equity ratio |
|
|
10.23 |
|
|
|
|
11.23 |
|
|
|
|
10.81 |
|
|
|
|
10.60 |
|
|
|
|
10.44 |
|
|
Equity/Assets ratio |
|
|
12.09 |
|
|
|
|
13.05 |
|
|
|
|
12.63 |
|
|
|
|
12.41 |
|
|
|
|
12.33 |
|
|
|
Quarter Ended |
||||||||||||||||||||||||
|
|
2026 |
|
|
|
2025 |
|
|
|||||||||||||||||
NONINTEREST INCOME |
|
Sept. 30, |
|
|
|
June 30, |
|
|
|
Mar. 31, |
|
|
|
Dec. 31, |
|
|
|
Sept. 30, |
|
|
|||||
Wealth Management fees |
$ |
|
14,492 |
|
|
$ |
|
13,960 |
|
|
$ |
|
13,363 |
|
|
$ |
|
13,512 |
|
|
$ |
|
12,950 |
|
|
Service charges on deposits |
|
|
6,693 |
|
|
|
|
6,263 |
|
|
|
|
6,077 |
|
|
|
|
6,140 |
|
|
|
|
6,447 |
|
|
Debit card fees |
|
|
5,953 |
|
|
|
|
5,584 |
|
|
|
|
5,245 |
|
|
|
|
5,791 |
|
|
|
|
5,333 |
|
|
Credit card fees |
|
|
721 |
|
|
|
|
734 |
|
|
|
|
651 |
|
|
|
|
678 |
|
|
|
|
699 |
|
|
Gain on sale and fees on mortgage loans |
|
|
4,175 |
|
|
|
|
4,679 |
|
|
|
|
4,277 |
|
|
|
|
4,216 |
|
|
|
|
4,375 |
|
|
Net gain (loss) on sale of securities |
|
|
(9 |
) |
|
|
|
- |
|
|
|
|
- |
|
|
|
|
- |
|
|
|
|
- |
|
|
Net gain (loss) on sale of foreclosed assets |
|
|
(2 |
) |
|
|
|
(19 |
) |
|
|
|
(56 |
) |
|
|
|
(12 |
) |
|
|
|
(122 |
) |
|
Net gain (loss) on sale of assets |
|
|
(1 |
) |
|
|
|
(374 |
) |
|
|
|
- |
|
|
|
|
- |
|
|
|
|
- |
|
|
SERP Market Adjustment |
|
|
16 |
|
|
|
|
1,397 |
|
|
|
|
(287 |
) |
|
|
|
(36 |
) |
|
|
|
286 |
|
|
Other noninterest income |
|
|
3,597 |
|
|
|
|
3,620 |
|
|
|
|
2,826 |
|
|
|
|
3,060 |
|
|
|
|
4,296 |
|
|
Total noninterest income |
$ |
|
35,635 |
|
|
$ |
|
35,844 |
|
|
$ |
|
32,096 |
|
|
$ |
|
33,349 |
|
|
$ |
|
34,264 |
|
|
NONINTEREST EXPENSE |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Salaries, commissions and employee benefits, excluding SERP and Profit Sharing |
$ |
|
44,876 |
|
|
$ |
|
44,819 |
|
|
$ |
|
43,246 |
|
|
$ |
|
42,445 |
|
|
$ |
|
40,395 |
|
|
SERP Market Adjustment |
|
|
16 |
|
|
|
|
1,397 |
|
|
|
|
(287 |
) |
|
|
|
(36 |
) |
|
|
|
286 |
|
|
Profit sharing expense |
|
|
2,917 |
|
|
|
|
3,444 |
|
|
|
|
3,023 |
|
|
|
|
4,819 |
|
|
|
|
1,924 |
|
|
Net occupancy expense |
|
|
3,837 |
|
|
|
|
3,728 |
|
|
|
|
3,630 |
|
|
|
|
3,458 |
|
|
|
|
3,545 |
|
|
Equipment expense |
|
|
2,306 |
|
|
|
|
2,169 |
|
|
|
|
2,158 |
|
|
|
|
2,128 |
|
|
|
|
2,395 |
|
|
FDIC insurance premiums |
|
|
1,709 |
|
|
|
|
1,767 |
|
|
|
|
1,560 |
|
|
|
|
1,695 |
|
|
|
|
1,635 |
|
|
Debit card expense |
|
|
3,029 |
|
|
|
|
3,043 |
|
|
|
|
3,108 |
|
|
|
|
3,265 |
|
|
|
|
3,512 |
|
|
Legal, tax and professional fees |
|
|
4,527 |
|
|
|
|
4,159 |
|
|
|
|
3,834 |
|
|
|
|
3,079 |
|
|
|
|
3,332 |
|
|
Audit fees |
|
|
406 |
|
|
|
|
441 |
|
|
|
|
455 |
|
|
|
|
531 |
|
|
|
|
536 |
|
|
Printing, stationery and supplies |
|
|
490 |
|
|
|
|
292 |
|
|
|
|
623 |
|
|
|
|
528 |
|
|
|
|
456 |
|
|
Amortization of intangible assets |
|
|
42 |
|
|
|
|
43 |
|
|
|
|
43 |
|
|
|
|
86 |
|
|
|
|
86 |
|
|
Advertising, meals and public relations |
|
|
2,050 |
|
|
|
|
1,849 |
|
|
|
|
1,701 |
|
|
|
|
1,923 |
|
|
|
|
1,714 |
|
|
Operational and other losses |
|
|
1,333 |
|
|
|
|
801 |
|
|
|
|
1,000 |
|
|
|
|
1,583 |
|
|
|
|
1,957 |
|
|
Software amortization and expense |
|
|
5,067 |
|
|
|
|
5,053 |
|
|
|
|
4,594 |
|
|
|
|
4,456 |
|
|
|
|
4,280 |
|
|
Other noninterest expense |
|
|
8,447 |
|
|
|
|
8,101 |
|
|
|
|
8,080 |
|
|
|
|
7,690 |
|
|
|
|
7,613 |
|
|
Total noninterest expense |
$ |
|
81,052 |
|
|
$ |
|
81,106 |
|
|
$ |
|
76,768 |
|
|
$ |
|
77,650 |
|
|
$ |
|
73,666 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
TAX EQUIVALENT YIELD ADJUSTMENT |
$ |
|
3,625 |
|
|
$ |
|
3,799 |
|
|
$ |
|
3,791 |
|
|
$ |
|
3,709 |
|
|
$ |
|
3,406 |
|
|
FIRST FINANCIAL BANKSHARES, INC.
SELECTED FINANCIAL DATA (UNAUDITED)
(In thousands)
|
Nine Months Ended |
|||||||||
|
Sept. 30, |
|
|
|||||||
NONINTEREST INCOME |
|
2026 |
|
|
|
2025 |
|
|
||
Wealth Management fees |
$ |
|
41,815 |
|
|
$ |
|
38,349 |
|
|
Service charges on deposits |
|
|
19,033 |
|
|
|
|
18,749 |
|
|
Debit card fees |
|
|
16,782 |
|
|
|
|
15,519 |
|
|
Credit card fees |
|
|
2,106 |
|
|
|
|
1,983 |
|
|
Gain on sale and fees on mortgage loans |
|
|
13,131 |
|
|
|
|
11,333 |
|
|
Net gain (loss) on sale of securities |
|
|
(9 |
) |
|
|
|
- |
|
|
Net gain (loss) on sale of foreclosed assets |
|
|
(77 |
) |
|
|
|
43 |
|
|
Net gain (loss) on sale of assets |
|
|
(375 |
) |
|
|
|
6 |
|
|
SERP Market Adjustment |
|
|
1,126 |
|
|
|
|
497 |
|
|
Other noninterest income |
|
|
10,043 |
|
|
|
|
10,887 |
|
|
Total noninterest income |
$ |
|
103,575 |
|
|
$ |
|
97,366 |
|
|
NONINTEREST EXPENSE |
|
|
|
|
|
|
|
|
||
Salaries, commissions and employee benefits, excluding SERP and Profit Sharing |
$ |
|
132,941 |
|
|
$ |
|
119,175 |
|
|
SERP Market Adjustment |
|
|
1,126 |
|
|
|
|
497 |
|
|
Profit sharing expense |
|
|
9,384 |
|
|
|
|
7,650 |
|
|
Net occupancy expense |
|
|
11,195 |
|
|
|
|
10,865 |
|
|
Equipment expense |
|
|
6,633 |
|
|
|
|
7,194 |
|
|
FDIC insurance premiums |
|
|
5,036 |
|
|
|
|
4,795 |
|
|
Debit card expense |
|
|
9,180 |
|
|
|
|
10,193 |
|
|
Legal, tax and professional fees |
|
|
12,520 |
|
|
|
|
9,541 |
|
|
Audit fees |
|
|
1,302 |
|
|
|
|
1,450 |
|
|
Printing, stationery and supplies |
|
|
1,405 |
|
|
|
|
1,411 |
|
|
Amortization of intangible assets |
|
|
128 |
|
|
|
|
266 |
|
|
Advertising, meals and public relations |
|
|
5,600 |
|
|
|
|
5,047 |
|
|
Operational and other losses |
|
|
3,134 |
|
|
|
|
3,217 |
|
|
Software amortization and expense |
|
|
14,714 |
|
|
|
|
12,032 |
|
|
Other noninterest expense |
|
|
24,628 |
|
|
|
|
22,403 |
|
|
Total noninterest expense |
$ |
|
238,926 |
|
|
$ |
|
215,736 |
|
|
|
|
|
|
|
|
|
|
|
||
TAX EQUIVALENT YIELD ADJUSTMENT |
$ |
|
11,215 |
|
|
$ |
|
9,032 |
|
|
FIRST FINANCIAL BANKSHARES, INC.
SELECTED FINANCIAL DATA (UNAUDITED)
(In thousands)
|
Three Months Ended |
|
|
|
Three Months Ended |
||||||||||||||||||||||||||||
|
Sept. 30, 2026 |
|
|
|
June 30, 2026 |
||||||||||||||||||||||||||||
|
|
Average |
|
|
|
Tax Equivalent |
|
|
|
Yield / |
|
|
|
|
|
|
Average |
|
|
|
Tax Equivalent |
|
|
|
Yield / |
|
|
||||||
|
|
Balance |
|
|
|
Interest |
|
|
|
Rate |
|
|
|
|
|
|
Balance |
|
|
|
Interest |
|
|
|
Rate |
|
|
||||||
Interest-earning assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Federal funds sold |
$ |
|
6,005 |
|
|
$ |
|
60 |
|
|
|
|
3.96 |
|
% |
|
|
|
$ |
|
4,642 |
|
|
$ |
|
43 |
|
|
|
|
3.72 |
|
% |
Interest-bearing demand deposits in nonaffiliated banks |
|
|
282,340 |
|
|
|
|
2,775 |
|
|
|
|
3.90 |
|
|
|
|
|
|
|
333,359 |
|
|
|
|
3,074 |
|
|
|
|
3.70 |
|
|
Taxable securities |
|
|
4,104,496 |
|
|
|
|
35,024 |
|
|
|
|
3.41 |
|
|
|
|
|
|
|
4,091,117 |
|
|
|
|
33,666 |
|
|
|
|
3.29 |
|
|
Tax-exempt securities |
|
|
1,568,453 |
|
|
|
|
12,950 |
|
|
|
|
3.30 |
|
|
|
|
|
|
|
1,709,709 |
|
|
|
|
14,134 |
|
|
|
|
3.31 |
|
|
Loans |
|
|
8,468,672 |
|
|
|
|
141,862 |
|
|
|
|
6.65 |
|
|
|
|
|
|
|
8,317,815 |
|
|
|
|
138,841 |
|
|
|
|
6.70 |
|
|
Total interest-earning assets |
|
|
14,429,966 |
|
|
$ |
|
192,671 |
|
|
|
|
5.30 |
|
% |
|
|
|
|
|
14,456,642 |
|
|
$ |
|
189,758 |
|
|
|
|
5.26 |
|
% |
Noninterest-earning assets |
|
|
871,586 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
833,268 |
|
|
|
|
|
|
|
|
|
|
||||
Total assets |
$ |
|
15,301,552 |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
|
15,289,910 |
|
|
|
|
|
|
|
|
|
|
||||
Interest-bearing liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Deposits |
$ |
|
9,630,365 |
|
|
$ |
|
50,252 |
|
|
|
|
2.07 |
|
% |
|
|
|
$ |
|
9,676,860 |
|
|
$ |
|
48,697 |
|
|
|
|
2.02 |
|
% |
Repurchase Agreements |
|
|
57,939 |
|
|
|
|
206 |
|
|
|
|
1.41 |
|
|
|
|
|
|
|
60,403 |
|
|
|
|
223 |
|
|
|
|
1.48 |
|
|
Borrowings |
|
|
22,686 |
|
|
|
|
81 |
|
|
|
|
1.42 |
|
|
|
|
|
|
|
28,459 |
|
|
|
|
125 |
|
|
|
|
1.76 |
|
|
Total interest-bearing liabilities |
|
|
9,710,990 |
|
|
$ |
|
50,539 |
|
|
|
|
2.06 |
|
% |
|
|
|
|
|
9,765,722 |
|
|
$ |
|
49,045 |
|
|
|
|
2.01 |
|
% |
Noninterest-bearing deposits |
|
|
3,508,797 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,445,033 |
|
|
|
|
|
|
|
|
|
|
||||
Other noninterest-bearing liabilities |
|
|
118,844 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
116,944 |
|
|
|
|
|
|
|
|
|
|
||||
Shareholders' equity |
|
|
1,962,921 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,962,211 |
|
|
|
|
|
|
|
|
|
|
||||
Total liabilities and shareholders' equity |
$ |
|
15,301,552 |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
|
15,289,910 |
|
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Net interest income and margin (tax equivalent) |
|
|
|
|
$ |
|
142,132 |
|
|
|
|
3.91 |
|
% |
|
|
|
|
|
|
|
$ |
|
140,713 |
|
|
|
|
3.90 |
|
% |
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
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 |
|
% |
||
FIRST FINANCIAL BANKSHARES, INC.
SELECTED FINANCIAL DATA (UNAUDITED)
(In thousands)
|
Three Months Ended |
||||||||||||||
|
Sept. 30, 2025 |
||||||||||||||
|
|
Average |
|
|
|
Tax Equivalent |
|
|
|
Yield / |
|
|
|||
|
|
Balance |
|
|
|
Interest |
|
|
|
Rate |
|
|
|||
Interest-earning assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|||
Federal funds sold |
$ |
|
10,711 |
|
|
$ |
|
130 |
|
|
|
|
4.82 |
|
% |
Interest-bearing demand deposits in nonaffiliated banks |
|
|
216,739 |
|
|
|
|
2,387 |
|
|
|
|
4.37 |
|
|
Taxable securities |
|
|
3,560,347 |
|
|
|
|
26,539 |
|
|
|
|
2.98 |
|
|
Tax-exempt securities |
|
|
1,564,767 |
|
|
|
|
12,906 |
|
|
|
|
3.30 |
|
|
Loans |
|
|
8,249,113 |
|
|
|
|
141,136 |
|
|
|
|
6.79 |
|
|
Total interest-earning assets |
|
|
13,601,677 |
|
|
$ |
|
183,098 |
|
|
|
|
5.34 |
|
% |
Noninterest-earning assets |
|
|
826,660 |
|
|
|
|
|
|
|
|
|
|
||
Total assets |
$ |
|
14,428,337 |
|
|
|
|
|
|
|
|
|
|
||
Interest-bearing liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|||
Deposits |
$ |
|
9,051,463 |
|
|
$ |
|
52,010 |
|
|
|
|
2.28 |
|
% |
Repurchase Agreements |
|
|
50,051 |
|
|
|
|
210 |
|
|
|
|
1.66 |
|
|
Borrowings |
|
|
56,198 |
|
|
|
|
471 |
|
|
|
|
3.33 |
|
|
Total interest-bearing liabilities |
|
|
9,157,712 |
|
|
$ |
|
52,691 |
|
|
|
|
2.28 |
|
% |
Noninterest-bearing deposits |
|
|
3,419,378 |
|
|
|
|
|
|
|
|
|
|
||
Other noninterest-bearing liabilities |
|
|
101,268 |
|
|
|
|
|
|
|
|
|
|
||
Shareholders' equity |
|
|
1,749,979 |
|
|
|
|
|
|
|
|
|
|
||
Total liabilities and shareholders' equity |
$ |
|
14,428,337 |
|
|
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Net interest income and margin (tax equivalent) |
|
|
|
|
$ |
|
130,407 |
|
|
|
|
3.80 |
|
% |
|
|
Nine Months Ended |
|
|
|
Nine Months Ended |
||||||||||||||||||||||||||||
|
Sept. 30, 2026 |
|
|
|
Sept. 30, 2025 |
||||||||||||||||||||||||||||
|
|
Average |
|
|
|
Tax Equivalent |
|
|
|
Yield / |
|
|
|
|
|
|
Average |
|
|
|
Tax Equivalent |
|
|
|
Yield / |
|
|
||||||
|
|
Balance |
|
|
|
Interest |
|
|
|
Rate |
|
|
|
|
|
|
Balance |
|
|
|
Interest |
|
|
|
Rate |
|
|
||||||
Interest-earning assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Federal funds sold |
$ |
|
5,076 |
|
|
$ |
|
143 |
|
|
|
|
3.77 |
|
% |
|
|
|
$ |
|
9,240 |
|
|
$ |
|
334 |
|
|
|
|
4.83 |
|
% |
Interest-bearing deposits in nonaffiliated banks |
|
|
358,436 |
|
|
|
|
10,058 |
|
|
|
|
3.75 |
|
|
|
|
|
|
|
293,984 |
|
|
|
|
9,752 |
|
|
|
|
4.44 |
|
|
Taxable securities |
|
|
4,090,870 |
|
|
|
|
100,973 |
|
|
|
|
3.29 |
|
|
|
|
|
|
|
3,512,304 |
|
|
|
|
76,816 |
|
|
|
|
2.92 |
|
|
Tax exempt securities |
|
|
1,667,729 |
|
|
|
|
41,268 |
|
|
|
|
3.30 |
|
|
|
|
|
|
|
1,469,158 |
|
|
|
|
33,629 |
|
|
|
|
3.05 |
|
|
Loans |
|
|
8,354,207 |
|
|
|
|
416,723 |
|
|
|
|
6.67 |
|
|
|
|
|
|
|
8,083,638 |
|
|
|
|
408,113 |
|
|
|
|
6.75 |
|
|
Total interest-earning assets |
|
|
14,476,318 |
|
|
$ |
|
569,165 |
|
|
|
|
5.26 |
|
% |
|
|
|
|
|
13,368,324 |
|
|
$ |
|
528,644 |
|
|
|
|
5.29 |
|
% |
Noninterest-earning assets |
|
|
842,359 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
826,449 |
|
|
|
|
|
|
|
|
|
|
||||
Total assets |
$ |
|
15,318,677 |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
|
14,194,773 |
|
|
|
|
|
|
|
|
|
|
||||
Interest-bearing liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Deposits |
$ |
|
9,709,818 |
|
|
$ |
|
146,800 |
|
|
|
|
2.02 |
|
% |
|
|
|
$ |
|
8,953,017 |
|
|
$ |
|
148,291 |
|
|
|
|
2.21 |
|
% |
Repurchase Agreements |
|
|
60,379 |
|
|
|
|
658 |
|
|
|
|
1.46 |
|
|
|
|
|
|
|
52,801 |
|
|
|
|
641 |
|
|
|
|
1.62 |
|
|
Borrowings |
|
|
24,436 |
|
|
|
|
280 |
|
|
|
|
1.53 |
|
|
|
|
|
|
|
52,380 |
|
|
|
|
1,160 |
|
|
|
|
2.96 |
|
|
Total interest-bearing liabilities |
|
|
9,794,633 |
|
|
$ |
|
147,738 |
|
|
|
|
2.02 |
|
% |
|
|
|
|
|
9,058,198 |
|
|
$ |
|
150,092 |
|
|
|
|
2.22 |
|
% |
Noninterest-bearing deposits |
|
|
3,452,035 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,356,999 |
|
|
|
|
|
|
|
|
|
|
||||
Other noninterest-bearing liabilities |
|
|
111,334 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
85,148 |
|
|
|
|
|
|
|
|
|
|
||||
Shareholders' equity |
|
|
1,960,675 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,694,428 |
|
|
|
|
|
|
|
|
|
|
||||
Total liabilities and shareholders' equity |
$ |
|
15,318,677 |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
|
14,194,773 |
|
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Net interest income and margin (tax equivalent) |
|
|
|
|
$ |
|
421,427 |
|
|
|
|
3.89 |
|
% |
|
|
|
|
|
|
|
$ |
|
378,552 |
|
|
|
|
3.79 |
|
% |
||