8-K
First Financial Bankshares Inc (FFIN)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
| CURRENT REPORT<br><br>PURSUANT TO SECTION 13 OR 15(d)<br><br>OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|
Date of Report (Date of Earliest Event Reported): January 22, 2026
First Financial Bankshares, Inc.
(Exact name of registrant as specified in its Charter)
| Texas | 0-07674 | 75-0944023 |
|---|---|---|
| (State or other jurisdiction of<br><br>incorporation or organization) | (Commission <br>File No.) | (I.R.S. Employer<br><br>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<br>Symbol(s) | Name of each exchange<br>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 December 31, 2025 of First Financial Bankshares, Inc.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
99.1 Press Release dated January 22, 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: January 23, 2026 | By: | /s/ F. Scott Dueser |
| F. SCOTT DUESER | ||
| Chairman and Chief Executive Officer |
EX-99.1
| For immediate release | For More Information:<br><br>Michelle S. Hickox, EVP & Chief Financial Officer 325.627.7155 |
|---|
FIRST FINANCIAL BANKSHARES ANNOUNCES FOURTH QUARTER AND YEAR ENDED DECEMBER 31, 2025 EARNINGS
ABILENE, Texas, January 22, 2026 - First Financial Bankshares, Inc. (the “Company,” “we,” “us” or “our”) (NASDAQ: FFIN) today reported earnings of $73.31 million for the fourth quarter of 2025 compared to earnings of $52.27 million for the third quarter of 2025 and $62.32 million for the same quarter a year ago. Diluted earnings per share were $0.51 for the fourth quarter of 2025 compared with $0.36 for the third quarter of 2025 and $0.43 for the fourth quarter of 2024.
For the year ended December 31, 2025, the Company reported net income of $253.58 million, or $1.77 per diluted share, compared to $223.51 million, or $1.56 per diluted share, for the year ended December 31, 2024, reflecting an increase of $30.07 million, or 13.45 percent.
“We are pleased to report a strong finish to 2025, highlighted by record quarterly net income. We are especially happy with the strong deposit growth during the quarter, which will set us up well to grow both loans and securities in 2026,” said F. Scott Dueser, Chairman and CEO of First Financial Bankshares, Inc. “We are encouraged by our organic balance sheet growth of almost $1.50 billion in the past year, increasing earning assets while continuing to grow net interest income. As we enter 2026, we will continue to remain focused on sound lending growth, managing the changing interest rate environment and the regulatory landscape. We appreciate the continued support of our customers, shareholders and associates and assure you that we will continue to put You First!”
Net interest income for the fourth quarter of 2025 was $131.37 million compared to $127.00 million for the third quarter of 2025 and $116.12 million for the fourth quarter of 2024. The net interest margin, on a tax- equivalent basis, was 3.81 percent for the fourth quarter of 2025 compared to 3.80 percent for the third quarter of 2025 and 3.67 percent in the fourth quarter of 2024. Average interest-earning assets were $14.08 billion for the fourth quarter of 2025 compared to $12.86 billion for the same quarter a year ago.
The Company recorded a credit provision reversal of $2.49 million for the fourth quarter of 2025 compared to a provision for credit losses of $24.44 million for the third quarter of 2025 and $1.00 million in the fourth quarter 2024. The Company recorded a provision for credit losses of $28.61 million for the year ended December 31, 2025, compared to $13.82 million recorded in 2024.
The allowance for credit losses totaled $105.54 million or 1.29 percent of total loans held-for-investment (“loans hereafter”) at December 31, 2025, compared to $98.33 million, at December 31, 2024, or 1.24 percent of loans. Additionally, the reserve for unfunded commitments totaled $6.39 million at December 31, 2025 compared to $8.68 million at December 31, 2024.
For the fourth quarter of 2025, net charge-offs totaled $391 thousand compared to net charge-offs of $22.34 million for the third quarter of 2025 and $1.94 million for the fourth quarter of 2024. Nonperforming assets as a percentage of loans and foreclosed assets totaled 0.69 percent on December 31, 2025, compared to 0.71 percent at September 30, 2025 and 0.80 percent at December 31, 2024. Classified loans totaled $255.61 million at December 31, 2025, compared to $252.96 million at September 30, 2025 and $233.85 million at December 31, 2024.
Noninterest income for the fourth quarter of 2025 was $33.35 million compared to $30.98 million for the fourth quarter of 2024. Notable changes for the fourth quarter of 2025 when compared to the same quarter a year ago are as follows:
- Mortgage income increased to $4.22 million for the fourth quarter of 2025 compared to $3.01 million in the fourth quarter of 2024 due to increased loan origination volumes and pricing margins.
- Trust fee income increased to $13.51 million for the fourth quarter of 2025 compared to $12.66 million in the same quarter last year which represents an increase of $850 thousand or 6.71 percent. Trust revenue has increased primarily due to growth in market value of assets under management to $11.94 billion at December 31, 2025 compared to $10.83 billion at December 31, 2024.
Noninterest expense for the fourth quarter of 2025 totaled $77.65 million compared to $70.10 million for the fourth quarter of 2024. Notable changes for the fourth quarter of 2025 when compared to the same quarter a year ago are as follows:
- Salary, commissions, and employee benefit costs rose to $47.23 million for the fourth quarter of 2025, compared to $41.64 million in the fourth quarter of 2024. The increase from the fourth quarter of 2024 is largely due to merit-based pay increases and market adjustments for front line staff over the prior year, an increase of $1.17 million in profit sharing expense and an increase of $384 thousand in officer bonus and incentive accruals related to the Company’s growth in net income over the prior year and increased mortgage activity.
- Noninterest expense, excluding salary related costs, increased $1.97 million for the fourth quarter of 2025 compared to the same period in 2024 largely due to increases in software amortization and expense and operational and other losses.
The Company’s efficiency ratio was 46.10 percent for the fourth quarter of 2025 and 46.81 percent for the fourth quarter of 2024. The decrease from the same period in the prior year is primarily due to the increase in net interest income in 2025.
As of December 31, 2025, consolidated total assets were $15.45 billion compared to $13.98 billion at December 31, 2024. Loans totaled $8.16 billion at December 31, 2025, compared with loans of $7.91 billion at December 31, 2024. Loans grew $245.18 million, or 3.10 percent, from December 31, 2024 balances. Deposits and Repurchase Agreements totaled $13.41 billion at December 31, 2025, compared to $12.90 billion at September 30, 2025 and $12.16 billion at December 31, 2024. During the fourth quarter of 2025, Deposits and Repurchase Agreements grew $511.59 million, or 15.74 percent annualized, when compared to September 30, 2025 balances and $1.25 billion from December 31, 2024, or 10.26 percent.
Shareholders’ equity was $1.92 billion as of December 31, 2025, compared to $1.61 billion at December 31, 2024, resulting from growth in retained earnings and improvement in Other Comprehensive Income (“OCI”) due to the decrease in unrealized losses in the bond portfolio related to lower longer-term interest rates. The unrealized loss on the securities portfolio, net of applicable tax, totaled $269.94 million at December 31, 2025, compared to $424.29 million at December 31, 2024.
About First Financial Bankshares, Inc.
Headquartered in Abilene, Texas, First Financial Bankshares is a financial holding company that through its wholly-owned 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, Lumberton, Keller, Kingwood, 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 and 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 | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||||||||
| Cash and due from banks | 249,466 | 237,466 | 264,000 | 232,943 | 259,996 | ||||||||||
| Interest-bearing demand deposits in banks | 826,947 | 401,580 | 435,612 | 682,362 | 503,417 | ||||||||||
| Federal funds sold | 1,575 | 11,750 | 8,750 | 11,750 | - | ||||||||||
| Investment securities | 5,514,113 | 5,260,813 | 4,886,548 | 4,760,431 | 4,617,759 | ||||||||||
| Loans, held-for-investment | 8,158,276 | 8,243,625 | 8,074,944 | 7,945,611 | 7,913,098 | ||||||||||
| Allowance for credit losses | (105,536 | ) | (105,958 | ) | (102,792 | ) | (101,080 | ) | (98,325 | ) | |||||
| Net loans, held-for-investment | 8,052,740 | 8,137,667 | 7,972,152 | 7,844,531 | 7,814,773 | ||||||||||
| Loans, held-for-sale | 29,992 | 26,015 | 33,233 | 14,348 | 8,235 | ||||||||||
| Premises and equipment, net | 149,985 | 149,651 | 148,999 | 150,589 | 151,904 | ||||||||||
| Goodwill | 313,481 | 313,481 | 313,481 | 313,481 | 313,481 | ||||||||||
| Other intangible assets | 171 | 257 | 343 | 428 | 523 | ||||||||||
| Other assets | 308,006 | 302,848 | 313,723 | 301,251 | 309,330 | ||||||||||
| Total assets | 15,446,476 | 14,841,528 | 14,376,841 | 14,312,114 | 13,979,418 | ||||||||||
| LIABILITIES AND SHAREHOLDERS' EQUITY | |||||||||||||||
| Noninterest-bearing deposits | 3,401,057 | 3,446,262 | 3,439,059 | 3,356,553 | 3,348,041 | ||||||||||
| Interest-bearing deposits | 9,944,472 | 9,399,986 | 9,009,357 | 9,110,218 | 8,751,133 | ||||||||||
| Total deposits | 13,345,529 | 12,846,248 | 12,448,416 | 12,466,771 | 12,099,174 | ||||||||||
| Repurchase agreements | 62,956 | 50,646 | 48,026 | 56,606 | 61,416 | ||||||||||
| Borrowings | 21,680 | 21,956 | 22,153 | 26,978 | 135,603 | ||||||||||
| Trade date payable | - | - | 24,965 | - | - | ||||||||||
| Other liabilities | 98,994 | 92,410 | 95,929 | 81,498 | 76,665 | ||||||||||
| Shareholders' equity | 1,917,317 | 1,830,268 | 1,737,352 | 1,680,261 | 1,606,560 | ||||||||||
| Total liabilities and shareholders' equity | 15,446,476 | 14,841,528 | 14,376,841 | 14,312,114 | 13,979,418 |
All values are in US Dollars.
| Quarter Ended | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| INCOME STATEMENTS | |||||||||||
| Interest income | 182,869 | 179,692 | 172,810 | 167,110 | 165,792 | ||||||
| Interest expense | 51,501 | 52,691 | 49,080 | 48,321 | 49,675 | ||||||
| Net interest income | 131,368 | 127,001 | 123,730 | 118,789 | 116,117 | ||||||
| Provision for credit losses | (2,486 | ) | 24,435 | 3,132 | 3,528 | 1,003 | |||||
| Net interest income after provision for credit losses | 133,854 | 102,566 | 120,598 | 115,261 | 115,114 | ||||||
| Noninterest income | 33,349 | 34,264 | 32,873 | 30,230 | 30,977 | ||||||
| Noninterest expense | 77,650 | 73,666 | 71,735 | 70,335 | 70,099 | ||||||
| Net income before income taxes | 89,553 | 63,164 | 81,736 | 75,156 | 75,992 | ||||||
| Income tax expense | 16,239 | 10,897 | 15,078 | 13,810 | 13,671 | ||||||
| Net income | 73,314 | 52,267 | 66,658 | 61,346 | 62,321 |
All values are in US Dollars.
| PER COMMON SHARE DATA | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Net income - basic | $ | 0.51 | $ | 0.37 | $ | 0.47 | $ | 0.43 | $ | 0.44 |
| Net income - diluted | 0.51 | 0.36 | 0.47 | 0.43 | 0.43 | |||||
| Cash dividends declared | 0.19 | 0.19 | 0.19 | 0.18 | 0.18 | |||||
| Book value | 13.39 | 12.78 | 12.14 | 11.75 | 11.24 | |||||
| Tangible book value | 11.20 | 10.59 | 9.95 | 9.55 | 9.04 | |||||
| Market value | 29.87 | 33.65 | 35.98 | 35.92 | 36.05 | |||||
| Shares outstanding - end of period | 143,213,102 | 143,188,051 | 143,077,619 | 143,019,433 | 142,944,704 | |||||
| Average outstanding shares - basic | 143,180,215 | 143,105,224 | 143,023,544 | 142,949,514 | 142,898,110 | |||||
| Average outstanding shares - diluted | 143,542,801 | 143,474,169 | 143,378,505 | 143,355,148 | 143,352,067 | |||||
| PERFORMANCE RATIOS | ||||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Return on average assets | 1.94 | % | 1.44 | % | 1.89 | % | 1.78 | % | 1.81 | % |
| Return on average equity | 15.62 | 11.85 | 15.82 | 15.12 | 15.17 | |||||
| Return on average tangible equity | 18.78 | 14.44 | 19.43 | 18.68 | 18.78 | |||||
| Net interest margin (tax equivalent) | 3.81 | 3.80 | 3.81 | 3.74 | 3.67 | |||||
| Efficiency ratio | 46.10 | 44.74 | 44.97 | 46.36 | 46.81 |
FIRST FINANCIAL BANKSHARES, INC.
CONSOLIDATED FINANCIAL SUMMARY (UNAUDITED)
(In thousands, except share and per share data)
| Year Ended | ||||
|---|---|---|---|---|
| Dec. 31, | ||||
| INCOME STATEMENTS | ||||
| Interest income | 702,480 | 628,918 | ||
| Interest expense | 201,593 | 202,177 | ||
| Net interest income | 500,887 | 426,741 | ||
| Provision for credit losses | 28,609 | 13,821 | ||
| Net interest income after provisions for credit losses | 472,278 | 412,920 | ||
| Noninterest income | 130,716 | 123,989 | ||
| Noninterest expense | 293,391 | 265,063 | ||
| Net income before income taxes | 309,603 | 271,846 | ||
| Income tax expense | 56,024 | 48,335 | ||
| Net income | 253,579 | 223,511 |
All values are in US Dollars.
| PER COMMON SHARE DATA | ||||
|---|---|---|---|---|
| Net income - basic | $ | 1.77 | $ | 1.56 |
| Net income - diluted | 1.77 | 1.56 | ||
| Cash dividends declared | 0.75 | 0.72 | ||
| Book value | 13.39 | 11.24 | ||
| Tangible book value | 11.20 | 9.04 | ||
| Market value | $ | 29.87 | $ | 36.05 |
| Shares outstanding - end of period | 143,213,102 | 142,944,704 | ||
| Average outstanding shares - basic | 143,065,368 | 142,822,880 | ||
| Average outstanding shares - diluted | 143,447,988 | 143,232,520 | ||
| PERFORMANCE RATIOS | ||||
| --- | --- | --- | --- | --- |
| Return on average assets | 1.76 | % | 1.68 | % |
| Return on average equity | 14.59 | 14.51 | ||
| Return on average tangible equity | 17.80 | 18.24 | ||
| Net interest margin (tax equivalent) | 3.79 | 3.50 | ||
| Efficiency ratio | 45.53 | 47.23 |
FIRST FINANCIAL BANKSHARES, INC.
SELECTED FINANCIAL DATA (UNAUDITED)
(In thousands)
| Quarter Ended | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ALLOWANCE FOR LOAN LOSSES | |||||||||||||||
| Balance at beginning of period | 105,958 | 102,792 | 101,080 | 98,325 | 99,936 | ||||||||||
| Loans charged-off | (3,387 | ) | (22,612 | ) | (1,189 | ) | (946 | ) | (2,184 | ) | |||||
| Loan recoveries | 2,996 | 272 | 469 | 710 | 243 | ||||||||||
| Net recoveries (charge-offs) | (391 | ) | (22,340 | ) | (720 | ) | (236 | ) | (1,941 | ) | |||||
| Provision for loan losses | (31 | ) | 25,506 | 2,432 | 2,991 | 330 | |||||||||
| Balance at end of period | 105,536 | 105,958 | 102,792 | 101,080 | 98,325 |
All values are in US Dollars.
| ALLOWANCE FOR UNFUNDED COMMITMENTS | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance at beginning of period | $ | 8,842 | $ | 9,914 | $ | 9,214 | $ | 8,677 | $ | 8,004 | |||||||
| Provision for unfunded commitments | (2,455 | ) | (1,072 | ) | 700 | 537 | 673 | ||||||||||
| Balance at end of period | $ | 6,387 | $ | 8,842 | $ | 9,914 | $ | 9,214 | $ | 8,677 | |||||||
| Allowance for loan losses / | |||||||||||||||||
| period-end loans held-for-investment | 1.29 | % | 1.29 | % | 1.27 | % | 1.27 | % | 1.24 | % | |||||||
| Allowance for loan losses / | |||||||||||||||||
| nonperforming loans | 188.41 | 187.39 | 162.60 | 164.16 | 158.02 | ||||||||||||
| Net charge-offs (recoveries) / average total loans | |||||||||||||||||
| (annualized) | 0.02 | 1.07 | 0.04 | 0.01 | 0.10 | ||||||||||||
| As of | |||||||||||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |||||||
| COMPOSITION OF LOANS HELD-FOR-INVESTMENT | |||||||||||||||||
| Commercial: | |||||||||||||||||
| C&I | 1,116,461 | 1,174,770 | 1,202,151 | 1,144,429 | 1,176,993 | ||||||||||||
| Municipal | 342,501 | 347,559 | 306,140 | 338,303 | 369,246 | ||||||||||||
| Total Commercial | 1,458,962 | 1,522,329 | 1,508,291 | 1,482,732 | 1,546,239 | ||||||||||||
| Agricultural | 95,776 | 88,820 | 86,133 | 90,186 | 95,543 | ||||||||||||
| Real Estate: | |||||||||||||||||
| Construction & Development | 1,157,865 | 1,214,649 | 1,172,834 | 1,098,069 | 1,054,603 | ||||||||||||
| Farm | 327,625 | 322,710 | 302,969 | 331,464 | 339,665 | ||||||||||||
| Non-Owner Occupied CRE | 832,816 | 802,675 | 746,341 | 753,898 | 805,566 | ||||||||||||
| Owner Occupied CRE | 1,120,608 | 1,119,425 | 1,124,610 | 1,142,618 | 1,083,100 | ||||||||||||
| Residential | 2,285,830 | 2,308,708 | 2,286,220 | 2,217,740 | 2,196,767 | ||||||||||||
| Total Real Estate | 5,724,744 | 5,768,167 | 5,632,974 | 5,543,789 | 5,479,701 | ||||||||||||
| Consumer: | |||||||||||||||||
| Auto | 732,351 | 718,501 | 698,897 | 679,189 | 638,560 | ||||||||||||
| Non-Auto | 146,443 | 145,808 | 148,649 | 149,715 | 153,055 | ||||||||||||
| Total Consumer | 878,794 | 864,309 | 847,546 | 828,904 | 791,615 | ||||||||||||
| Total loans held-for-investment | 8,158,276 | 8,243,625 | 8,074,944 | 7,945,611 | 7,913,098 |
All values are in US Dollars.
| SUMMARY OF LOAN CLASSIFICATION | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Special Mention | $ | 66,058 | $ | 76,647 | $ | 62,774 | $ | 46,103 | $ | 42,563 | |||||
| Substandard | 189,548 | 176,311 | 194,291 | 199,509 | 191,288 | ||||||||||
| Doubtful | - | - | - | - | - | ||||||||||
| Total classified loans | $ | 255,606 | $ | 252,958 | $ | 257,065 | $ | 245,612 | $ | 233,851 | |||||
| NONPERFORMING ASSETS | |||||||||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Nonaccrual loans | $ | 55,121 | $ | 56,394 | $ | 63,142 | $ | 60,430 | $ | 61,938 | |||||
| Accruing loans 90 days past due | 892 | 151 | 77 | 1,143 | 287 | ||||||||||
| Total nonperforming loans | 56,013 | 56,545 | 63,219 | 61,573 | 62,225 | ||||||||||
| Foreclosed assets | 479 | 1,997 | 489 | 115 | 871 | ||||||||||
| Total nonperforming assets | $ | 56,492 | $ | 58,542 | $ | 63,708 | $ | 61,688 | $ | 63,096 | |||||
| As a % of loans held-for-investment and foreclosed assets | 0.69 | % | 0.71 | % | 0.79 | % | 0.78 | % | 0.80 | % | |||||
| As a % of end of period total assets | 0.37 | 0.39 | 0.44 | 0.43 | 0.45 |
FIRST FINANCIAL BANKSHARES, INC.
SELECTED FINANCIAL DATA (UNAUDITED)
(In thousands)
| Quarter Ended | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 2024 | |||||||||||||||
| CAPITAL RATIOS | Dec. 31, | Sept. 30, | June 30, | Mar. 31, | Dec. 31, | |||||||||||
| Common equity Tier 1 capital ratio | 19.99 | % | 19.10 | % | 19.16 | % | 19.12 | % | 18.83 | % | ||||||
| Tier 1 capital ratio | 19.99 | 19.10 | 19.16 | 19.12 | 18.83 | |||||||||||
| Total capital ratio | 21.17 | 20.29 | 20.35 | 20.31 | 20.00 | |||||||||||
| Tier 1 leverage ratio | 12.55 | 12.34 | 12.61 | 12.46 | 12.49 | |||||||||||
| Tangible common equity ratio | 10.60 | 10.44 | 10.12 | 9.76 | 9.46 | |||||||||||
| Equity/Assets ratio | 12.41 | 12.33 | 12.08 | 11.74 | 11.49 | |||||||||||
| Quarter Ended | ||||||||||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |||
| NONINTEREST INCOME | ||||||||||||||||
| Trust fees | 13,512 | 12,950 | 12,746 | 12,653 | 12,662 | |||||||||||
| Service charges on deposits | 6,140 | 6,447 | 6,126 | 6,177 | 6,306 | |||||||||||
| Debit card fees | 5,791 | 5,333 | 5,218 | 4,967 | 5,506 | |||||||||||
| Credit card fees | 678 | 699 | 707 | 577 | 617 | |||||||||||
| Gain on sale and fees on mortgage loans | 4,216 | 4,375 | 4,126 | 2,832 | 3,009 | |||||||||||
| Net gain (loss) on sale of foreclosed assets | (12 | ) | (122 | ) | 200 | (35 | ) | 36 | ||||||||
| Net gain (loss) on sale of assets | - | - | 6 | - | 214 | |||||||||||
| Loan recoveries | 546 | 1,664 | 810 | 574 | 433 | |||||||||||
| Other noninterest income | 2,478 | 2,918 | 2,934 | 2,485 | 2,194 | |||||||||||
| Total noninterest income | 33,349 | 34,264 | 32,873 | 30,230 | 30,977 |
All values are in US Dollars.
| NONINTEREST EXPENSE | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Salaries, commissions and employee benefits, excluding profit sharing | $ | 42,409 | $ | 40,681 | $ | 39,834 | $ | 39,157 | $ | 37,996 |
| Profit sharing expense | 4,819 | 1,924 | 2,741 | 2,985 | 3,648 | |||||
| Net occupancy expense | 3,458 | 3,545 | 3,600 | 3,720 | 3,753 | |||||
| Equipment expense | 2,128 | 2,395 | 2,478 | 2,321 | 2,305 | |||||
| FDIC insurance premiums | 1,695 | 1,635 | 1,585 | 1,575 | 1,511 | |||||
| Debit card expense | 3,265 | 3,512 | 3,308 | 3,373 | 3,220 | |||||
| Legal, tax and professional fees | 3,079 | 3,332 | 3,143 | 3,067 | 3,751 | |||||
| Audit fees | 531 | 536 | 463 | 451 | 423 | |||||
| Printing, stationery and supplies | 528 | 456 | 473 | 482 | 293 | |||||
| Amortization of intangible assets | 86 | 86 | 86 | 95 | 147 | |||||
| Advertising, meals and public relations | 1,923 | 1,714 | 1,653 | 1,677 | 1,642 | |||||
| Operational and other losses | 1,583 | 1,957 | 720 | 540 | 863 | |||||
| Software amortization and expense | 4,456 | 4,280 | 4,020 | 3,732 | 3,648 | |||||
| Other noninterest expense | 7,690 | 7,613 | 7,631 | 7,160 | 6,899 | |||||
| Total noninterest expense | $ | 77,650 | $ | 73,666 | $ | 71,735 | $ | 70,335 | $ | 70,099 |
| TAX EQUIVALENT YIELD ADJUSTMENT | $ | 3,709 | $ | 3,406 | $ | 2,926 | $ | 2,700 | $ | 2,673 |
FIRST FINANCIAL BANKSHARES, INC.
SELECTED FINANCIAL DATA (UNAUDITED)
(In thousands)
| Year Ended | |||||
|---|---|---|---|---|---|
| Dec. 31, | |||||
| NONINTEREST INCOME | |||||
| Trust fees | 51,861 | 47,449 | |||
| Service charges on deposits | 24,889 | 24,988 | |||
| Debit card fees | 21,310 | 21,070 | |||
| Credit card fees | 2,661 | 2,537 | |||
| Gain on sale and fees on mortgage loans | 15,550 | 13,183 | |||
| Net gain on sale of foreclosed assets | 31 | (51 | ) | ||
| Net gain (loss) on sale of assets | 6 | 484 | |||
| Loan recoveries | 3,594 | 3,010 | |||
| Other noninterest income | 10,814 | 11,319 | |||
| Total noninterest income | 130,716 | 123,989 |
All values are in US Dollars.
| NONINTEREST EXPENSE | ||||
|---|---|---|---|---|
| Salaries, commissions and employee benefits, excluding profit sharing | $ | 162,082 | $ | 143,830 |
| Profit sharing expense | 12,469 | 9,466 | ||
| Net occupancy expense | 14,323 | 14,579 | ||
| Equipment expense | 9,321 | 9,065 | ||
| FDIC insurance premiums | 6,490 | 6,498 | ||
| Debit card expense | 13,456 | 12,768 | ||
| Legal, tax and professional fees | 12,619 | 14,157 | ||
| Audit fees | 1,982 | 1,793 | ||
| Printing, stationery and supplies | 1,939 | 1,364 | ||
| Amortization of intangible assets | 352 | 618 | ||
| Advertising, meals and public relations | 6,966 | 6,028 | ||
| Operational and other losses | 4,800 | 3,741 | ||
| Software amortization and expense | 16,496 | 13,523 | ||
| Other noninterest expense | 30,096 | 27,633 | ||
| Total noninterest expense | $ | 293,391 | $ | 265,063 |
| TAX EQUIVALENT YIELD ADJUSTMENT | $ | 12,741 | $ | 10,446 |
FIRST FINANCIAL BANKSHARES, INC.
SELECTED FINANCIAL DATA (UNAUDITED)
(In thousands)
| Three Months Ended | Three Months Ended | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dec. 31, 2025 | Sept. 30, 2025 | |||||||||||||
| Yield / | Yield / | |||||||||||||
| Rate | 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 | % | ||||||||
| Three Months Ended | Three Months Ended | |||||||||||||
| June 30, 2025 | Mar. 31, 2025 | |||||||||||||
| Yield / | Yield / | |||||||||||||
| Rate | Rate | |||||||||||||
| Interest-earning assets: | ||||||||||||||
| Federal funds sold | 9,397 | 113 | 4.84 | % | 7,596 | 90 | 4.81 | % | ||||||
| Interest-bearing demand deposits in nonaffiliated banks | 379,364 | 4,191 | 4.43 | 286,040 | 3,174 | 4.50 | ||||||||
| Taxable securities | 3,470,028 | 25,242 | 2.91 | 3,506,035 | 25,034 | 2.86 | ||||||||
| Tax-exempt securities | 1,433,498 | 10,811 | 3.02 | 1,407,440 | 9,912 | 2.82 | ||||||||
| Loans | 8,045,340 | 135,378 | 6.75 | 7,952,946 | 131,600 | 6.71 | ||||||||
| Total interest-earning assets | 13,337,627 | 175,735 | 5.28 | % | 13,160,057 | 169,810 | 5.23 | % | ||||||
| Noninterest-earning assets | 826,635 | 830,055 | ||||||||||||
| Total assets | 14,164,262 | 13,990,112 | ||||||||||||
| Interest-bearing liabilities: | ||||||||||||||
| Deposits | 8,923,737 | 48,730 | 2.19 | % | 8,882,040 | 47,549 | 2.17 | % | ||||||
| Repurchase Agreements | 54,482 | 221 | 1.63 | 53,920 | 209 | 1.57 | ||||||||
| Borrowings | 26,557 | 128 | 1.93 | 74,561 | 563 | 3.06 | ||||||||
| Total interest-bearing liabilities | 9,004,776 | 49,079 | 2.19 | % | 9,010,521 | 48,321 | 2.17 | % | ||||||
| Noninterest-bearing deposits | 3,383,851 | 3,265,838 | ||||||||||||
| Other noninterest-bearing liabilities | 85,745 | 68,218 | ||||||||||||
| Shareholders' equity | 1,689,890 | 1,645,535 | ||||||||||||
| Total liabilities and shareholders' equity | 14,164,262 | 13,990,112 | ||||||||||||
| Net interest income and margin (tax equivalent) | 126,656 | 3.81 | % | 121,489 | 3.74 | % |
All values are in US Dollars.
FIRST FINANCIAL BANKSHARES, INC.
SELECTED FINANCIAL DATA (UNAUDITED)
(In thousands)
| Three Months Ended | |||||||
|---|---|---|---|---|---|---|---|
| Dec. 31, 2024 | |||||||
| Yield / | |||||||
| Rate | |||||||
| Interest-earning assets: | |||||||
| Federal funds sold | 1,895 | 23 | 4.90 | % | |||
| Interest-bearing demand deposits in nonaffiliated banks | 308,118 | 3,578 | 4.62 | ||||
| Taxable securities | 3,320,754 | 21,896 | 2.64 | ||||
| Tax-exempt securities | 1,425,934 | 9,858 | 2.77 | ||||
| Loans | 7,806,860 | 133,110 | 6.78 | ||||
| Total interest-earning assets | 12,863,561 | 168,465 | 5.21 | % | |||
| Noninterest-earning assets | 824,757 | ||||||
| Total assets | 13,688,318 | ||||||
| Interest-bearing liabilities: | |||||||
| Deposits | 8,523,405 | 49,139 | 2.29 | % | |||
| Repurchase Agreements | 63,350 | 271 | 1.70 | ||||
| Borrowings | 39,709 | 265 | 2.65 | ||||
| Total interest-bearing liabilities | 8,626,464 | 49,675 | 2.29 | % | |||
| Noninterest-bearing deposits | 3,348,062 | ||||||
| Other noninterest-bearing liabilities | 79,271 | ||||||
| Shareholders' equity | 1,634,521 | ||||||
| Total liabilities and shareholders' equity | 13,688,318 | ||||||
| Net interest income and margin (tax equivalent) | 118,790 | 3.67 | % |
All values are in US Dollars.
| Year Ended | Year Ended | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dec. 31, 2025 | Dec. 31, 2024 | |||||||||||||
| Yield / | Yield / | |||||||||||||
| Rate | Rate | |||||||||||||
| Interest-earning assets: | ||||||||||||||
| Federal funds sold | 8,566 | 395 | 4.61 | % | 3,464 | 197 | 5.70 | % | ||||||
| Interest-bearing deposits in nonaffiliated banks | 329,388 | 14,035 | 4.26 | 253,393 | 13,242 | 5.23 | ||||||||
| Taxable securities | 3,555,356 | 106,046 | 2.98 | 3,289,683 | 81,626 | 2.48 | ||||||||
| Tax exempt securities | 1,530,433 | 47,773 | 3.12 | 1,420,846 | 39,124 | 2.75 | ||||||||
| Loans | 8,123,368 | 546,972 | 6.73 | 7,516,352 | 505,176 | 6.72 | ||||||||
| Total interest-earning assets | 13,547,111 | 715,221 | 5.28 | % | 12,483,738 | 639,365 | 5.12 | % | ||||||
| Noninterest-earning assets | 845,451 | 840,674 | ||||||||||||
| Total assets | 14,392,562 | 13,324,412 | ||||||||||||
| Interest-bearing liabilities: | ||||||||||||||
| Deposits | 9,085,018 | 199,496 | 2.20 | % | 8,166,855 | 194,801 | 2.39 | % | ||||||
| Repurchase Agreements | 53,752 | 860 | 1.60 | 173,068 | 5,468 | 3.16 | ||||||||
| Borrowings | 44,751 | 1,236 | 2.76 | 54,943 | 1,909 | 3.47 | ||||||||
| Total interest-bearing liabilities | 9,183,521 | 201,592 | 2.20 | % | 8,394,866 | 202,178 | 2.41 | % | ||||||
| Noninterest-bearing deposits | 3,381,632 | 3,316,040 | ||||||||||||
| Other noninterest-bearing liabilities | 88,794 | 73,559 | ||||||||||||
| Shareholders' equity | 1,738,615 | 1,539,947 | ||||||||||||
| Total liabilities and shareholders' equity | 14,392,562 | 13,324,412 | ||||||||||||
| Net interest income and margin (tax equivalent) | 513,629 | 3.79 | % | 437,187 | 3.50 | % |
All values are in US Dollars.