FIRST FINANCIAL BANKSHARES ANNOUNCES FOURTH QUARTER AND YEAR ENDED DECEMBER 31, 2025 EARNINGS

Press Release View all news Company Release - 01/22/2026 , /PRNewswire/ -- 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 2025 2024 ASSETS Dec. 31, Sept. 30, June 30, Mar. 31, Dec. 31, 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 Quarter Ended 2025 2024 INCOME STATEMENTS Dec. 31, Sept. 30, June 30, Mar. 31, Dec. 31, 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 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 Year Ended Dec. 31, INCOME STATEMENTS 2025 2024 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 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 2025 2024 ALLOWANCE FOR LOAN LOSSES Dec. 31, Sept. 30, June 30, Mar. 31, Dec. 31, 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 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 2025 2024 COMPOSITION OF LOANS HELD-FOR-INVESTMENT Dec. 31, Sept. 30, June 30, Mar. 31, Dec. 31, 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 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 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 2025 2024 NONINTEREST INCOME Dec. 31, Sept. 30, June 30, Mar. 31, Dec. 31, 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 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 Year Ended Dec. 31, NONINTEREST INCOME 2025 2024 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 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 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 % Three Months Ended Three Months Ended June 30, 2025 Mar. 31, 2025 Average Tax Equivalent Yield / Average Tax Equivalent Yield / Balance Interest Rate Balance Interest 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 % Three Months Ended Dec. 31, 2024 Average Tax Equivalent Yield / Balance Interest 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 % Year Ended Year Ended Dec. 31, 2025 Dec. 31, 2024 Average Tax Equivalent Yield / Average Tax Equivalent Yield / Balance Interest Rate Balance Interest 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 % View original content:https://www.prnewswire.com/news-releases/first-financial-bankshares-announces-fourth-quarter-and-year-ended-december-31-2025-earnings-302668503.html SOURCE First Financial Bankshares, Inc. 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