Core Viewpoint - First Financial Bankshares, Inc. reported a decline in net income for Q3 2025, primarily due to a significant credit loss related to fraudulent activity, but core earnings trends remain positive with year-to-date growth of nearly 12% compared to 2024 [2][3]. Financial Performance - Net income for Q3 2025 was $52.27 million, down from $55.31 million in Q3 2024 and $66.66 million in Q2 2025 [1]. - Diluted earnings per share decreased to $0.36 from $0.39 in Q3 2024 and $0.47 in Q2 2025 [1]. - Net interest income increased to $127.00 million from $107.11 million in Q3 2024 and $123.73 million in Q2 2025 [2]. - The net interest margin was 3.80% for Q3 2025, compared to 3.50% in Q3 2024 and 3.81% in Q2 2025 [2]. Credit Losses and Provisions - The company recorded a provision for credit losses of $24.44 million in Q3 2025, significantly higher than $6.12 million in Q3 2024 and $3.13 million in Q2 2025 [3]. - Net charge-offs totaled $22.34 million in Q3 2025, compared to $786 thousand in Q3 2024 [4]. - The allowance for credit losses was $105.96 million, or 1.29% of loans, consistent with the previous year [3]. Asset and Loan Growth - Total assets increased to $14.84 billion as of September 30, 2025, from $13.58 billion a year earlier [5]. - Loans held-for-investment grew to $8.24 billion, up from $7.72 billion in Q3 2024 [5]. - Core deposits and repurchase agreements increased by $250.45 million, or 7.95% annualized, compared to Q2 2025 [5]. Noninterest Income and Expenses - Noninterest income for Q3 2025 was $34.26 million, up from $32.36 million in Q3 2024 [5]. - Noninterest expenses totaled $73.67 million, compared to $66.01 million in Q3 2024 [5]. - The efficiency ratio improved to 44.74% from 46.45% in Q3 2024, primarily due to increased net interest income [5]. Shareholder Equity and Market Position - Shareholders' equity rose to $1.83 billion as of September 30, 2025, compared to $1.66 billion a year earlier [5]. - The company continues to focus on maintaining growth and profitability while addressing the recent credit loss incident [2].

Core Insights - First Financial Bankshares has appointed Tim Brown as Executive Vice President and Chief Information Officer, and CEO of First Technology Services, Inc. as part of its succession planning [1] - John Ruzicka, the former CIO, will transition to Chief Banking Operations Officer, focusing on enhancing the bank's backroom operations [1][3] Leadership Changes - Tim Brown brings over 35 years of technology innovation and operations experience, having previously worked at USAA and Johnson Financial Group, which positions him well for the bank's growth into a mid-size regional bank [2] - John Ruzicka has been with the company since 2018 and has significantly improved the bank's tech infrastructure and digital modernization [2][3] Company Overview - First Financial Bank is a wholly owned subsidiary of First Financial Bankshares, Inc., operating multiple banking regions with 79 locations across Texas [3]

Core Points - First Financial Bank is participating in the inaugural Texas Banks Community Day of Service, a statewide initiative by the Texas Bankers Association aimed at uniting financial institutions for community service [1][2][3] - On October 13, 2025, over 1,000 employees from First Financial Bank will volunteer with local nonprofits, schools, and service organizations, focusing on various projects such as food banks and neighborhood cleanups [2][3] - The Day of Service emphasizes the role of community banks in strengthening local communities and showcases the collaborative impact of banks working together [3] Company Overview - First Financial Bank is a wholly owned subsidiary of First Financial Bankshares, Inc., which operates multiple banking regions with 79 locations across Texas [4] - The company is headquartered in Abilene, Texas, and also operates First Financial Trust & Asset Management Company and First Technology Services, Inc. [4]

Core Insights - Income investors prioritize generating consistent cash flow from liquid investments, with dividends being a key focus for this group [1][2] - Dividends significantly contribute to long-term returns, often exceeding one-third of total returns in many cases [2] Company Overview - First Financial Bankshares (FFIN), based in Abilene, operates in the Finance sector and has experienced a price change of 0.14% this year [3] - The company currently pays a dividend of $0.19 per share, resulting in a dividend yield of 2.11%, which is higher than the Banks - Southwest industry's yield of 1.12% and the S&P 500's yield of 1.49% [3] Dividend Growth - FFIN's annualized dividend of $0.76 has increased by 5.6% from the previous year [4] - Over the past five years, the company has raised its dividend four times, averaging an annual increase of 7.93% [4] - The current payout ratio is 44%, indicating that the company pays out 44% of its trailing 12-month earnings per share as dividends [4] Earnings Growth - The Zacks Consensus Estimate for FFIN's earnings in 2025 is $1.81 per share, reflecting a year-over-year growth rate of 16.03% [5] Investment Considerations - FFIN is viewed as an attractive dividend option and a compelling investment opportunity, holding a Zacks Rank of 2 (Buy) [6]

Core Viewpoint - First Financial Bankshares (FFIN) has received an upgrade to a Zacks Rank 2 (Buy), indicating a positive outlook based on rising earnings estimates [1][4]. Earnings Estimates and Ratings - The Zacks rating system is primarily driven by changes in a company's earnings picture, with the Zacks Consensus Estimate tracking EPS estimates from sell-side analysts [2]. - The Zacks rating upgrade reflects an improvement in First Financial's earnings outlook, which is expected to positively influence its stock price [4][6]. Impact of Earnings Estimates on Stock Prices - Changes in future earnings potential, as indicated by earnings estimate revisions, are strongly correlated with near-term stock price movements, largely due to institutional investors' reliance on these estimates for valuation [5]. - For First Financial, the increase in earnings estimates suggests an improvement in the company's underlying business, which should lead to higher stock prices as investors respond positively [6]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with a strong historical performance, particularly for Zacks Rank 1 stocks, which have averaged a +25% annual return since 1988 [8]. - The upgrade of First Financial to a Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, indicating a strong potential for market-beating returns in the near term [10][11]. Earnings Estimate Revisions for First Financial - First Financial is projected to earn $1.81 per share for the fiscal year ending December 2025, with no year-over-year change, but the Zacks Consensus Estimate has increased by 0.3% over the past three months [9].

Core Viewpoint - First Financial Bankshares (FFIN) has shown a downtrend recently, losing 6.6% over the past two weeks, but a hammer chart pattern suggests a potential trend reversal as buying interest may be emerging [1][2]. Technical Analysis - The hammer chart pattern indicates a possible bottoming out, suggesting that selling pressure may be subsiding [2][5]. - This pattern forms when there is a small candle body with a long lower wick, indicating that despite a new low, buying interest has emerged to push the stock price up towards the opening price [4][5]. - Hammer candles can appear on various timeframes and are utilized by both short-term and long-term investors [5]. Fundamental Analysis - There has been a positive trend in earnings estimate revisions for FFIN, which is a bullish indicator suggesting potential price appreciation [7]. - The consensus EPS estimate for the current year has increased by 0.3% over the last 30 days, indicating strong agreement among analysts regarding improved earnings potential [8]. - FFIN currently holds a Zacks Rank of 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks, which typically outperform the market [9][10].

Financial Performance - Net earnings for the three months ended June 30, 2025, were $66,658 thousand, an increase of 27% from $52,485 thousand in 2024[16]. - Comprehensive earnings for the three months ended June 30, 2025, were $82,091 thousand, compared to $52,155 thousand in 2024, an increase of 57.4%[17]. - Net earnings for the six months ended June 30, 2025, were $128,004 thousand, an increase of 20.7% compared to $105,882 thousand for the same period in 2024[23]. - Net earnings for Q2 2025 were $66.66 million, a 27.00% increase from $52.49 million in Q2 2024[179]. - Diluted earnings per share for Q2 2025 was $0.47, compared to $0.37 in Q2 2024[179]. - Diluted earnings per share for the first six months of 2025 was $0.89, compared to $0.74 in the same period of 2024[181]. Asset and Loan Growth - Total assets increased to $14,376,841 thousand as of June 30, 2025, up from $13,164,075 thousand in 2024, representing an increase of 9.2%[13]. - Net loans held-for-investment rose to $7,972,152 thousand, a 7.4% increase from $7,424,563 thousand in 2024[13]. - Total loans held-for-investment as of June 30, 2025, were $8.07 billion, an increase of $161.85 million compared to December 31, 2024[208]. - The loan portfolio totaled $8,074,944,000 as of June 30, 2025, an increase from $7,519,733,000 in June 2024, with a net allowance for credit losses of $102,792,000[90]. Income and Revenue - Total interest income for the three months ended June 30, 2025, was $172,810 thousand, compared to $153,673 thousand in 2024, reflecting a growth of 12.4%[16]. - Net interest income after provision for credit losses was $120,598 thousand for the three months ended June 30, 2025, compared to $97,385 thousand in 2024, a rise of 23.9%[16]. - Tax-equivalent net interest income for Q2 2025 was $126.66 million, up from $105.85 million in Q2 2024[184]. - Noninterest income for the first six months of 2025 was $63.10 million, an increase of $2.45 million from the same period in 2024[198]. Dividends and Shareholder Equity - The company declared dividends per share of $0.19 for the three months ended June 30, 2025, compared to $0.18 in 2024, reflecting a 5.6% increase[16]. - As of June 30, 2025, total shareholders' equity increased to $1,737,352,000[20]. - Cash dividends declared increased to $0.19 per share for the quarter ending June 30, 2025, totaling $27,206,000[19]. Credit Quality and Loss Provisions - The provision for credit losses decreased to $3,132 thousand for the three months ended June 30, 2025, down from $5,888 thousand in 2024, indicating improved credit quality[16]. - The allowance for credit losses for the three months ended June 30, 2025, was reported at $102,792,000, up from $101,080,000 for the same period in 2024, reflecting a growth of about 1.7%[94]. - The total charge-offs for the three months ended June 30, 2025, were $1,189,000, compared to $702,000 for the same period in 2024, reflecting an increase of approximately 69%[96]. Investment and Securities - The Company’s investment portfolio includes obligations of state and political subdivisions, mortgage pass-through securities, corporate bonds, and municipal bonds, with fair values determined by independent pricing services[44]. - The total fair value of available-for-sale investment securities is $4,886,548,000, an increase from $4,573,024,000 as of June 30, 2024, representing a growth of approximately 6.85%[155]. - The total unrealized losses on investment securities were attributed to changes in interest rates rather than credit-related events, with no allowance for credit losses required[85]. Operational Metrics - The net interest margin for Q2 2025 was 3.81%, an increase of 33 basis points from Q2 2024[190]. - Average earning assets increased to $13.34 billion in Q2 2025, compared to $12.23 billion in Q2 2024, driven by a $640.04 million increase in loans[184]. - Total noninterest expense for Q2 2025 was $71.74 million, compared to $65.01 million in Q2 2024, resulting in an efficiency ratio of 44.97% for Q2 2025, improved from 47.41% in Q2 2024[200]. Regulatory and Accounting Changes - ASU 2023-02 allows entities to account for qualifying tax equity investments using the proportional amortization method, which is not expected to significantly impact financial statements[34]. - ASU 2023-07 expands segment disclosure requirements, effective for annual financial statements in 2024, with no significant impact anticipated on financial statements[35]. - ASU 2023-09 requires more detailed disclosures in tax rate reconciliations, effective for annual reporting periods beginning after December 15, 2024, with no significant impact expected[36][38].

Core Viewpoint - First Financial Bankshares, Inc. has promoted Kyle McVey to Executive Vice President and Chief Financial Officer, a role previously held by Michelle Hickox, who will continue as Executive Vice President and CFO for the parent company [1][2]. Group 1: Leadership Changes - Kyle McVey's promotion highlights the company's commitment to strategic succession planning and collaboration between him and Michelle Hickox as the company expands [2]. - McVey has been with First Financial since 2011 and previously served as Executive Vice President and Chief Accounting Officer, overseeing financial reporting, acquisition strategy, audit, and investor relations [2]. Group 2: Contributions and Initiatives - McVey has significantly contributed to the company's progress, particularly in enhancing investor relations and accounting practices, and leading the Customer Service First initiative [2]. - He played a key role in developing the company's Vision and Mission statements and the 21 Non-Negotiables that define excellence in customer service [2]. Group 3: Educational Background - McVey holds bachelor's degrees in accounting and finance and a master's in accounting from Abilene Christian University, is a licensed CPA, and graduated as valedictorian from the Southwestern Graduate School of Banking [3]. Group 4: Company Overview - First Financial Bankshares, Inc. is headquartered in Abilene, Texas, and operates multiple banking regions with 79 locations across Texas [4]. - The company is listed on the NASDAQ Global Select Market under the trading symbol FFIN [5].

Core Viewpoint - First Financial Bankshares (FFIN) reported quarterly earnings of $0.47 per share, exceeding the Zacks Consensus Estimate of $0.45 per share, and showing an increase from $0.37 per share a year ago, indicating a positive earnings surprise of +4.44% [1][2] Financial Performance - The company posted revenues of $159.53 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 3.52%, compared to $137.11 million in the same quarter last year [2] - Over the last four quarters, First Financial has exceeded consensus EPS estimates two times and topped consensus revenue estimates four times [2] Stock Performance and Outlook - First Financial shares have increased by approximately 0.8% since the beginning of the year, while the S&P 500 has gained 6.5% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] Earnings Estimates - The current consensus EPS estimate for the upcoming quarter is $0.47 on revenues of $157.2 million, and for the current fiscal year, it is $1.80 on revenues of $618.8 million [7] - The estimate revisions trend for First Financial was mixed prior to the earnings release, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market [6] Industry Context - The Banks - Southwest industry, to which First Financial belongs, is currently ranked in the top 17% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8]

```markdown [Financial Highlights](index=1&type=section&id=Financial%20Highlights) First Financial Bankshares reported strong Q2 2025 results, driven by significant net earnings growth and improved margins Q2 2025 Key Earnings Metrics | Metric | Q2 2025 | Q2 2024 | Q1 2025 | | :--- | :--- | :--- | :--- | | Net Earnings | $66.66 M | $52.49 M | $61.35 M | | Diluted EPS | $0.47 | $0.37 | $0.43 | - CEO F. Scott Dueser attributed the positive results to **healthy loan and deposit growth**, **improved margin**, and **increased trust revenue**, expressing a **good outlook** for the rest of the year[2](index=2&type=chunk) [Financial Performance Analysis](index=1&type=section&id=Financial%20Performance%20Analysis) Q2 2025 financial performance was strong, marked by net interest income growth, margin expansion, and improved efficiency [Net Interest Income and Margin](index=1&type=section&id=Net%20Interest%20Income%20and%20Margin) Net interest income for Q2 2025 rose significantly, with tax-equivalent net interest margin expanding to **3.81%** Net Interest Income and Margin Performance | Metric | Q2 2025 | Q2 2024 | Q1 2025 | | :--- | :--- | :--- | :--- | | Net Interest Income | $123.73 M | $103.27 M | $118.79 M | | Net Interest Margin (Tax Equiv.) | 3.81% | 3.48% | 3.74% | - Average interest-earning assets grew to **$13.34 billion**, up from **$12.23 billion** in the same quarter a year ago[2](index=2&type=chunk) [Credit Quality and Provision for Credit Losses](index=1&type=section&id=Credit%20Quality%20and%20Provision%20for%20Credit%20Losses) Credit quality showed decreased provisions for credit losses, despite an increase in net charge-offs and classified loans Credit Quality Indicators (Q2 2025 vs. Q2 2024) | Indicator | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | Provision for Credit Losses | $3.13 M | $5.89 M | | Allowance for Credit Losses | $102.79 M | $95.17 M | | Allowance / Loans | 1.27% | 1.27% | | Net Charge-offs | $720 K | $302 K | | Nonperforming Assets / Loans & Foreclosed Assets | 0.79% | 0.81% | [Noninterest Income](index=1&type=section&id=Noninterest%20Income) Noninterest income grew modestly, primarily driven by increased trust fee income and improved mortgage income - Trust fee income increased to **$12.75 million** from **$11.71 million** YoY, as trust assets managed grew to **$11.46 billion**[5](index=5&type=chunk) - Mortgage income rose to **$4.13 million** from **$3.69 million** YoY due to improved origination volume and margins[10](index=10&type=chunk) - Other noninterest income decreased due to a one-time **$723 thousand** BOLI settlement payment recognized in Q2 2024[10](index=10&type=chunk) [Noninterest Expense and Efficiency](index=2&type=section&id=Noninterest%20Expense%20and%20Efficiency) Noninterest expense increased due to higher personnel and technology costs, yet the efficiency ratio improved significantly Expense and Efficiency (Q2 2025 vs. Q2 2024) | Metric | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | Total Noninterest Expense | $71.74 M | $65.01 M | | Salary, Commissions, & Benefits | $42.58 M | $37.47 M | | Efficiency Ratio | 44.97% | 47.41% | - The increase in salary costs was driven by merit-based pay increases, higher profit sharing, and incentive accruals tied to increased net income[10](index=10&type=chunk) - Other expense increases were noted in software amortization due to investments in new loan origination and account opening platforms[10](index=10&type=chunk) [Balance Sheet and Capital Position](index=2&type=section&id=Balance%20Sheet%20and%20Capital%20Position) The company's balance sheet expanded, with total assets, loans, and deposits showing healthy growth [Asset, Loan, and Deposit Growth](index=2&type=section&id=Asset,%20Loan,%20and%20Deposit%20Growth) Total assets, loans, and deposits all grew significantly year-over-year, reflecting robust balance sheet expansion Balance Sheet Growth (as of June 30) | Metric | 2025 | 2024 | | :--- | :--- | :--- | | Total Assets | $14.38 B | $13.16 B | | Total Loans | $8.07 B | $7.52 B | | Deposits & Repurchase Agreements | $12.50 B | $11.55 B | [Shareholders' Equity and Capital Ratios](index=2&type=section&id=Shareholders'%20Equity%20and%20Capital%20Ratios) Shareholders' equity increased, benefiting from reduced unrealized losses on securities, maintaining strong capital ratios - Shareholders' equity grew to **$1.74 billion** at June 30, 2025, from **$1.52 billion** at June 30, 2024[8](index=8&type=chunk) - The unrealized loss on the securities portfolio (net of tax) decreased to **$373.46 million** from **$441.56 million** YoY[8](index=8&type=chunk) Key Capital Ratios (as of June 30, 2025) | Ratio | Value | | :--- | :--- | | Common equity Tier 1 capital ratio | 19.16% | | Tier 1 capital ratio | 19.16% | | Total capital ratio | 20.35% | | Tier 1 leverage ratio | 12.61% | [Consolidated Financial Statements and Selected Data](index=5&type=section&id=Consolidated%20Financial%20Statements%20and%20Selected%20Data) This section provides detailed unaudited consolidated financial statements and supplementary data tables for analysis [Consolidated Financial Summary (Quarterly)](index=5&type=section&id=Consolidated%20Financial%20Summary%20(Quarterly)) Presents key unaudited consolidated financial data for Q2 2025 and preceding quarters, including balance sheet and income statement Q2 2025 Financial Summary | Metric | Q2 2025 (in thousands) | Q1 2025 (in thousands) | Q2 2024 (in thousands) | | :--- | :--- | :--- | :--- | | **Balance Sheet** | | | | | Total Assets | $14,376,841 | $14,312,114 | $13,164,075 | | Net Loans | $7,972,152 | $7,844,531 | $7,424,563 | | Total Deposits | $12,448,416 | $12,466,771 | $11,409,157 | | Shareholders' Equity | $1,737,352 | $1,680,261 | $1,519,026 | | **Income Statement** | | | | | Net Interest Income | $123,730 | $118,789 | $103,273 | | Net Income | $66,658 | $61,346 | $52,485 | | **Per Share Data** | | | | | Diluted EPS | $0.47 | $0.43 | $0.37 | | Book Value | $12.14 | $11.75 | $10.63 | | **Performance Ratios** | | | | | Return on Average Assets | 1.89% | 1.78% | 1.61% | | Net Interest Margin (TE) | 3.81% | 3.74% | 3.48% | [Consolidated Financial Summary (Year-to-Date)](index=6&type=section&id=Consolidated%20Financial%20Summary%20(Year-to-Date)) Presents unaudited consolidated income statement and performance ratios for the six months ended June 30, 2025 and 2024 Six Months Ended June 30 Financial Summary | Metric | 2025 (in thousands) | 2024 (in thousands) | | :--- | :--- | :--- | | Net Interest Income | $242,519 | $203,514 | | Net Income | $128,004 | $105,882 | | Diluted EPS | $0.89 | $0.74 | | Return on Average Assets | 1.83% | 1.62% | | Net Interest Margin (TE) | 3.78% | 3.41% | | Efficiency Ratio | 45.65% | 47.88% | [Selected Financial Data (Credit & Loans)](index=7&type=section&id=Selected%20Financial%20Data%20(Credit%20%26%20Loans)) Provides detailed breakdowns of credit quality, loan composition, and nonperforming asset trends over recent quarters Loan Portfolio Composition (June 30, 2025) | Loan Category | Amount (in thousands) | % of Total | | :--- | :--- | :--- | | Commercial | $1,508,291 | 18.7% | | Real Estate | $5,632,974 | 69.8% | | Consumer | $847,546 | 10.5% | | Agricultural | $86,133 | 1.1% | | **Total Loans** | **$8,074,944** | **100.0%** | Nonperforming Assets (June 30, 2025) | Metric | Amount (in thousands) | | :--- | :--- | | Nonaccrual loans | $63,142 | | Total nonperforming loans | $63,219 | | Foreclosed assets | $489 | | **Total nonperforming assets** | **$63,708** | | As a % of loans and foreclosed assets | 0.79% | [Selected Financial Data (Capital & Operations)](index=8&type=section&id=Selected%20Financial%20Data%20(Capital%20%26%20Operations)) Details capital ratios and granular breakdowns of noninterest income and expense components for various periods Noninterest Income Breakdown (Q2 2025) | Category | Amount (in thousands) | | :--- | :--- | | Trust fees | $12,746 | | Service charges on deposits | $6,126 | | Debit card fees | $5,218 | | Gain on sale and fees on mortgage loans | $4,126 | | Other | $4,657 | | **Total Noninterest Income** | **$32,873** | Noninterest Expense Breakdown (Q2 2025) | Category | Amount (in thousands) | | :--- | :--- | | Salaries, commissions and employee benefits | $42,575 | | Software amortization and expense | $4,020 | | Net occupancy expense | $3,600 | | Debit card expense | $3,308 | | Other | $18,232 | | **Total Noninterest Expense** | **$71,735** | [Average Balances and Net Interest Margin Analysis](index=10&type=section&id=Average%20Balances%20and%20Net%20Interest%20Margin%20Analysis) Contains detailed tables analyzing average asset and liability balances, interest income/expense, and net interest margin calculations Six Months Ended June 30, 2025 vs 2024 - Average Balances | Metric | 2025 (Avg. Balance) (in thousands) | 2024 (Avg. Balance) (in thousands) | | :--- | :--- | :--- | | Total Interest-Earning Assets | $13,249,332 | $12,295,350 | | Total Interest-Bearing Liabilities | $9,007,633 | $8,292,131 | | Net Interest Margin (TE) | 3.78% | 3.41% | [Company Information and Disclosures](index=2&type=section&id=Company%20Information%20and%20Disclosures) This section provides background on First Financial Bankshares, Inc. and standard forward-looking statements disclaimer [About First Financial Bankshares, Inc.](index=2&type=section&id=About%20First%20Financial%20Bankshares,%20Inc.) First Financial Bankshares, Inc. is a Texas-based financial holding company operating 79 banking locations and other subsidiaries - The company is a Texas-based financial holding company with **79 banking locations**, a trust company, and a technology services subsidiary[9](index=9&type=chunk) - The company's stock trades on The NASDAQ Global Select Market under the ticker symbol FFIN[11](index=11&type=chunk) [Forward-Looking Statements](index=4&type=section&id=Forward-Looking%20Statements) The report contains forward-looking statements subject to risks and uncertainties, with actual results potentially differing materially - The report includes forward-looking statements that are subject to risks and uncertainties, meaning actual results could differ materially[13](index=13&type=chunk) - Key risks include competition, interest rate policies, economic changes, and other factors described in SEC filings[13](index=13&type=chunk) ```