ABILENE, Texas, Jan. 28, 2026 /PRNewswire/ -- The Boards of Directors of First Financial Bankshares, Inc. ("First Financial") (NASDAQ: FFIN), and First Financial Bank (the "Bank" and together with First Financial, the "Company", "we", "us", or "our") has announced the promotion of David Bailey to CEO of both entities. The position was previously held by F. Scott Dueser, who will continue to serve as Executive Chairman of the Boards. Continue Reading Mr. David Bailey "The First Financial b ...

Financial Performance - For Q4 2025, First Financial Bankshares reported earnings of $73.31 million, up from $52.27 million in Q3 2025 and $62.32 million in Q4 2024, with diluted earnings per share at $0.51 compared to $0.36 and $0.43 respectively[1][2] - For the year ended December 31, 2025, net income was $253.58 million, reflecting a 13.45% increase from $223.51 million in 2024, with diluted earnings per share rising to $1.77 from $1.56[2] - Net interest income for the year ended December 31, 2025, was $500,887 thousand, an increase of 17.3% compared to $426,741 thousand in 2024[19] - Noninterest income for the year ended December 31, 2025, was $130,716 thousand, up from $123,989 thousand in 2024, marking a growth of 5.5%[19] - The efficiency ratio improved to 45.53% in 2025 from 47.23% in 2024, indicating better cost management[19] - Return on average assets for 2025 was 1.76%, slightly up from 1.68% in 2024[19] - Return on average equity increased to 14.59 in 2025, compared to 14.51 in 2024, showing enhanced profitability[19] Asset and Loan Growth - Total assets grew to $15.45 billion as of December 31, 2025, compared to $13.98 billion at the end of 2024[9] - Loans increased by $245.18 million, or 3.10%, to $8.16 billion as of December 31, 2025, compared to $7.91 billion in 2024[9] - Average interest-earning assets increased to $14.08 billion in Q4 2025, up from $12.86 billion in Q4 2024[3] - Total assets increased to $15,446,476 thousand as of December 31, 2025, up from $14,841,528 thousand in the previous quarter, representing a growth of 4.1%[17] - The company reported a significant increase in loans from $7,516,352 in 2024 to $8,123,368 in 2025, with interest income rising from $505,176 to $546,972[29] Deposits and Equity - Deposits and Repurchase Agreements totaled $13.41 billion, reflecting a growth of $1.25 billion, or 10.26%, from December 31, 2024[9] - Shareholders' equity rose to $1.92 billion as of December 31, 2025, compared to $1.61 billion in 2024, driven by growth in retained earnings[10] - Shareholders' equity increased from $1,539,947 in 2024 to $1,738,615 in 2025, indicating strong financial health[29] Credit Quality - The allowance for credit losses was $105.54 million, or 1.29% of total loans, as of December 31, 2025, compared to $98.33 million or 1.24% in 2024[5] - Nonperforming assets as a percentage of loans and foreclosed assets decreased to 0.69% as of December 31, 2025, down from 0.80% a year earlier[6] - The provision for credit losses increased to $28,609 thousand in 2025, compared to $13,821 thousand in 2024, indicating a rise of 106.5%[19] - The net charge-offs (recoveries) to average total loans (annualized) was 0.02%, significantly lower than 1.07% in the previous quarter[21] - The total nonperforming assets as a percentage of loans held-for-investment and foreclosed assets was 0.69%, slightly down from 0.71% in the previous quarter[21] Expenses and Dividends - Total noninterest expense rose to $293,391 in 2025, compared to $265,063 in 2024, marking an increase of 10.7%[25] - Salaries, commissions, and employee benefits increased to $162,082 in 2025, up from $143,830 in 2024, reflecting a rise of 12.6%[25] - Cash dividends declared increased to $0.75 per share in 2025 from $0.72 in 2024, reflecting a commitment to returning value to shareholders[19] Market and Share Performance - The market value per share decreased to $29.87 in 2025 from $36.05 in 2024, indicating a shift in market perception[19]

ABILENE, Texas, Jan. 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 Decemb ...

Core Viewpoint - First Financial Bank has announced several key promotions as part of its ongoing management succession plan, aimed at strengthening leadership and positioning the organization for future growth [1][4]. Promotions and Leadership Changes - James Alexander has been promoted to Executive Vice President, Head of Commercial Banking, previously held by David Bailey [2]. - Chris Evatt has been promoted to Senior Banking Executive, providing leadership for the Bank's Southern regions [2]. - Rick Vaughan has been promoted to Chairman and CEO of the West Texas Region, a role previously held by Chris Evatt [2]. - Luke Uherik has been promoted to Market President of San Angelo and Senior Relationship Manager for the West Texas Region [3]. Background of Promoted Individuals - James Alexander has over 20 years of experience in commercial banking, having held various roles including President of the Greater Houston Region [5]. - Chris Evatt has been with First Financial since 2001, progressing through various positions and has a deep understanding of the Bank's culture [7]. - Rick Vaughan brings over 30 years of banking and wealth management experience, previously serving as Regional Banking President for Wells Fargo [9]. - Luke Uherik has over 17 years with First Financial, having advanced from Junior Commercial Relationship Manager to Executive Vice President [11]. Company Overview - First Financial Bank is a wholly owned subsidiary of First Financial Bankshares, Inc., headquartered in Abilene, Texas, operating multiple banking regions with 79 locations across Texas [13].

Core Viewpoint - First Financial Bankshares (FFIN) has experienced a 5% decline despite a strong market, indicating challenges in its performance since April, although it operates a high-quality business with defensive qualities [1] Company Summary - First Financial Bankshares is characterized by its high-quality business model, which is more defensive in nature, suggesting resilience in various market conditions [1] Investment Approach - The investment strategy focuses on a long-term, buy-and-hold approach, emphasizing stocks that can sustainably deliver high-quality earnings, particularly in the dividend and income sectors [1]

Financial Performance - Net earnings for the three months ended September 30, 2025, were $52,267 thousand, a decrease of 5.0% from $55,308 thousand in 2024[15]. - Comprehensive earnings for the nine months ended September 30, 2025, were $295,980 thousand, compared to $234,671 thousand in 2024, reflecting an increase of 26.1%[16]. - Net earnings for the period reached $161.19 million, reflecting strong performance[21]. - Net earnings for the nine months ended September 30, 2025, were $180,270,000, an increase of 11.5% compared to $161,190,000 for the same period in 2024[23]. - Net earnings for Q3 2025 were $52.27 million, down from $55.31 million in Q3 2024, with diluted earnings per share at $0.36 compared to $0.39[173]. - Year-to-date earnings growth for 2025 is nearly 12% compared to 2024, despite a $21.55 million credit loss due to fraudulent activity[173]. Asset and Loan Growth - Total assets increased to $14,841,528 thousand as of September 30, 2025, up from $13,582,932 thousand in 2024, representing a growth of 9.3%[12]. - Total loans held-for-investment increased to $8,243,625,000 as of September 30, 2025, up from $7,723,191,000 in 2024, representing a growth of 6.7%[85]. - Total deposits increased to $12,846,248 thousand as of September 30, 2025, compared to $11,755,861 thousand in 2024, an increase of 9.3%[12]. - Total loans held-for-investment as of September 30, 2024, amounted to $8,244 million, an increase from $7,991 million in 2023, reflecting a growth of approximately 3.2%[104]. Income and Expenses - Total interest income for the three months ended September 30, 2025, was $179,692 thousand, compared to $159,958 thousand in 2024, reflecting an increase of 12.3%[15]. - Total noninterest income for the nine months ended September 30, 2025, was $97,366 thousand, up from $93,012 thousand in 2024, marking a growth of 4.8%[15]. - Total noninterest expense for the first nine months of 2025 was $215.74 million, up from $194.97 million in the same period of 2024, indicating an increase of 10.6%[197]. - Salaries, commissions, and employee benefits for the first nine months of 2025 totaled $127.32 million, an increase of 14.0% from $111.65 million in 2024[198]. Credit Loss Provisions - The provision for credit losses increased to $24,435 thousand for the three months ended September 30, 2025, compared to $6,123 thousand in 2024, indicating a significant rise in credit loss provisions[15]. - Provision for credit losses increased significantly to $31,095,000 in 2025 from $12,817,000 in 2024, indicating a rise in expected credit losses[23]. - The allowance for credit losses at the end of September 2025 was $105,958,000, compared to $99,936,000 in 2024, reflecting an increase of 6.8%[85]. Shareholder Returns - Dividends per share increased to $0.19 for the three months ended September 30, 2025, compared to $0.18 in 2024, representing a growth of 5.6%[15]. - Cash dividends declared were $0.54 per share, totaling $77.20 million[21]. - Cash dividends declared increased to $0.56 per share, amounting to $80.25 million[21]. Investment and Securities - The company reported an unrealized gain of $73.48 million in available-for-sale investment securities, net of related income taxes[21]. - As of September 30, 2025, the total fair value of available-for-sale securities was $5,260,813,000, down from $4,612,299,000 as of September 30, 2024[78]. - The total amortized cost basis of available-for-sale securities was $5,651,768,000 as of September 30, 2025, with unrealized losses amounting to $413,930,000[78]. Risk Management and Loan Quality - The company has categorized its loans into five risk categories, with ongoing assessments to adjust ratings based on credit quality changes[96][97]. - Loans rated as "special mention" indicate financial weaknesses but are not expected to incur significant losses in the short term[98]. - The overall strategy includes continuous monitoring and adjustment of credit risk ratings to reflect the inherent risks in the loan portfolio[97]. Operational Metrics - Return on average assets for Q3 2025 was 1.44%, down from 1.66% in Q3 2024; return on average equity was 11.85%, down from 14.00%[174]. - The efficiency ratio improved to 45.33% for the first nine months of 2025, compared to 47.39% in the same period of 2024, reflecting better operational efficiency[197]. - The yield on earning assets increased by 16 basis points, while the rate paid on interest-bearing liabilities decreased by 23 basis points in Q3 2025 compared to Q3 2024[178].

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Core Insights - First Financial Bankshares Inc (FFIN) is a significant player in the financial services sector, particularly in the Texas region, and has shown confidence from its leadership through stock purchases [1] Financial Performance - For Q3 2025, FFIN reported a net income of $52.27 million, down from $55.31 million in Q3 2024 and significantly lower than $66.66 million in the previous quarter [2] - The diluted earnings per share for Q3 2025 was $0.36, missing the Zacks Consensus Estimate of $0.47 per share by 23.40% [2] - Revenues for the same quarter were $164.67 million, exceeding the Zacks Consensus Estimate by 1.96% and showing an increase from $142.1 million reported a year ago [3] Impact of Fraudulent Activity - The quarter's performance was adversely affected by a $21.55 million credit loss due to fraudulent activity involving a commercial borrower, which the company is addressing through legal actions [3] - Despite this setback, core earnings trends remain positive, with nearly 12% year-to-date earnings growth compared to 2024 [4] Stock Performance - FFIN's stock is currently priced at $30.88, reflecting a decrease of approximately 1.46% [4] - The company's market capitalization is around $4.42 billion, with a trading volume of 528,272 shares, indicating resilience and potential for recovery [4]

Financial Performance - Third quarter 2025 earnings were $52.27 million, down from $55.31 million in Q3 2024 and $66.66 million in Q2 2025; diluted earnings per share were $0.36 compared to $0.39 and $0.47 respectively[1][2] - Net income for the quarter was $52,267 thousand, compared to $55,308 thousand in the same quarter last year, indicating a decrease of 5.25%[15] - Return on average assets was 1.44% for the quarter, down from 1.66% in the same quarter last year[15] - Return on average equity decreased to 11.85% from 14.00% year-over-year[15] Income and Revenue - Net interest income increased to $127.00 million in Q3 2025 from $107.11 million in Q3 2024, with a net interest margin of 3.80% compared to 3.50% a year ago[2] - Noninterest income for Q3 2025 was $34.26 million, an increase from $32.36 million in Q3 2024[5] - Noninterest income rose to $34,264 thousand, up from $32,362 thousand in the same quarter last year, marking an increase of 5.88%[15] - Total noninterest income for the nine months ended September 30, 2025, was $97,366,000, an increase of 4% from $93,012,000 in 2024[23] Expenses and Loss Provisions - The provision for credit losses was $24.44 million in Q3 2025, significantly higher than $6.12 million in Q3 2024 and $3.13 million in Q2 2025[3] - Total noninterest expense rose to $73,666 thousand, compared to $71,735 thousand in the previous quarter, marking an increase of 2.70%[21] - Total noninterest expense increased to $215,736,000, reflecting a 10.6% rise from $194,965,000 in 2024[23] Asset and Deposit Growth - Total assets reached $14.84 billion as of September 30, 2025, up from $13.58 billion a year earlier; loans increased to $8.24 billion from $7.72 billion[7] - Total deposits increased to $12,846,248 thousand, up from $12,448,416 thousand in the previous quarter, reflecting a growth of 3.20%[15] - Core deposits and repurchase agreements grew by $250.45 million, or 7.95% annualized, compared to June 30, 2025[7] - Total assets increased to $14,841,528 thousand as of September 30, 2025, up from $14,376,841 thousand in the previous quarter, representing a growth of 3.23%[15] Capital and Equity - Shareholders' equity rose to $1.83 billion as of September 30, 2025, compared to $1.66 billion a year ago[8] - The common equity Tier 1 capital ratio remained stable at 19.10% as of September 30, 2025, consistent with the previous quarter[21] - The total capital ratio was reported at 20.29% for the quarter ended September 30, 2025, slightly down from 20.35% in the previous quarter[21] - The equity/assets ratio improved to 12.33% as of September 30, 2025, compared to 12.08% in the previous quarter, indicating a stronger capital position[21] Asset Quality - Nonperforming assets as a percentage of loans and foreclosed assets decreased to 0.71% at September 30, 2025, from 0.83% a year ago[4] - Nonperforming assets decreased to $58,542 thousand, down from $63,708 thousand in the previous quarter, indicating a reduction of approximately 8.67%[19] - The allowance for loan losses increased to $105,958 thousand as of September 30, 2025, up from $102,792 thousand in the previous quarter, reflecting a provision for loan losses of $25,506 thousand[19] - The total classified loans amounted to $252,958 thousand, a decrease from $257,065 thousand in the previous quarter, reflecting a decline of approximately 1.73%[19] Efficiency and Management - The efficiency ratio improved to 44.74% in Q3 2025 from 46.45% in Q3 2024, primarily due to increased net interest income[6] - The efficiency ratio improved to 44.74% from 46.45% in the same quarter last year, indicating better cost management[15] Other Financial Metrics - Cash dividends declared remained stable at $0.19 per share, consistent with the previous quarter[15] - The net charge-offs (recoveries) to average total loans (annualized) was 1.07% for the quarter ended September 30, 2025, compared to 0.04% in the previous quarter[19] - Interest-bearing liabilities totaled $9,157,712,000, with an average interest rate of 2.28%[25] - Noninterest-bearing deposits amounted to $3,383,851,000, indicating a stable funding base[25]

Core Insights - First Financial Bankshares (FFIN) reported quarterly earnings of $0.36 per share, missing the Zacks Consensus Estimate of $0.47 per share, and down from $0.39 per share a year ago [1][2] - The company posted revenues of $164.67 million for the quarter ended September 2025, exceeding the Zacks Consensus Estimate by 1.96% and up from $142.1 million year-over-year [3] - The stock has underperformed the market, losing about 10.8% since the beginning of the year compared to the S&P 500's gain of 13.9% [4] Earnings Performance - The earnings surprise for the recent quarter was -23.40%, while the previous quarter saw a positive surprise of +4.44% [2] - Over the last four quarters, First Financial has surpassed consensus EPS estimates two times and topped consensus revenue estimates four times [2][3] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.47 on revenues of $163 million, and for the current fiscal year, it is $1.81 on revenues of $635.7 million [8] - The estimate revisions trend for First Financial was mixed ahead of the earnings release, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market [7] Industry Context - The Banks - Southwest industry, to which First Financial belongs, is currently in the top 24% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [9] - Another company in the same industry, Southside Bancshares (SBSI), is expected to report quarterly earnings of $0.72 per share, reflecting a year-over-year change of +5.9% [10]