Financial Performance - Net earnings for Q1 2025 were $61,346 thousand, compared to $53,397 thousand in 2024, reflecting a growth of 14.8%[15] - Net interest income for the three months ended March 31, 2025, was $118,789 thousand, a 18.5% increase from $100,242 thousand in the same period of 2024[15] - Comprehensive earnings for Q1 2025 were $96,746 thousand, a substantial increase from $15,468 thousand in Q1 2024[17] - Net earnings for the three months ended March 31, 2025, were $61,346 thousand, an increase of 14.5% compared to $53,397 thousand for the same period in 2024[22] - The company reported a net increase in interest-bearing deposits of $359,085 thousand, compared to an increase of $238,947 thousand in the prior year[22] - The company declared cash dividends of $0.18 per share, totaling $25,754 thousand, consistent with the previous year's dividend[22] - The company repurchased and retired 101,337 shares at an average price of $26.99 per share under the previous stock repurchase authorization[29] - The company reported a total of $1 million in year-to-date gross charge-offs for non-auto loans, reflecting stable performance[104] Asset and Deposit Growth - Total assets increased to $14,312,114 thousand as of March 31, 2025, up from $13,191,158 thousand in 2024, representing an increase of 8.5%[13] - Total deposits rose to $12,466,771 thousand as of March 31, 2025, compared to $11,289,808 thousand in 2024, marking an increase of 10.5%[13] - Cash and cash equivalents at the end of the period reached $927,055 thousand, compared to $600,161 thousand at the end of the previous year[22] - Total loans held-for-investment as of March 31, 2025, were $7.95 billion, an increase of $32.51 million from December 31, 2024, and up $747.52 million year-over-year[187] Loan Portfolio and Credit Quality - The loan portfolio totaled $7,945,611,000 as of March 31, 2025, an increase from $7,229,410,000 in the same period of 2024[80] - Nonaccrual loans increased to $60,430,000 as of March 31, 2025, compared to $36,157,000 in 2024[82] - The allowance for credit losses was $101,080,000 as of March 31, 2025, up from $89,562,000 in 2024[80] - The total provision for loan losses for the three months ended March 31, 2025, was $2,991,000, combined with a provision for unfunded commitments of $537,000, totaling $3,528,000 reported under credit losses[85] - The total past due loans increased from $45,514,000 on March 31, 2024, to $63,829,000 on March 31, 2025, representing a significant increase of approximately 40%[105] Noninterest Income and Expenses - Noninterest income totaled $30,230 thousand for the three months ended March 31, 2025, up from $29,383 thousand in 2024, a growth of 2.9%[15] - Total noninterest expense for Q1 2025 was $70.34 million, compared to $63.94 million in the same period of 2024, with salaries and employee benefits increasing to $42.14 million[184] - The efficiency ratio improved to 46.36% in Q1 2025 from 48.37% in Q1 2024, indicating better management of noninterest expenses[182] Regulatory and Accounting Changes - ASU 2023-07 will require public entities to disclose significant expenses and segment items on an annual and interim basis starting in 2024, with no significant impact on financial statements expected[31] - ASU 2023-09 mandates more detailed income tax disclosures for public business entities, effective for annual reporting periods beginning after December 15, 2024, with no significant impact on financial statements anticipated[32] Stock and Shareholder Information - The company had 1,242,910 shares remaining for issuance under the 2021 Omnibus Stock and Incentive Plan as of March 31, 2025[125] - The outstanding stock options as of March 31, 2025, totaled 1,533,435 with a weighted average exercise price of $32.26[136] - The total fair value of shares vested during the three months ended March 31, 2025, was $26,000, compared to $46,000 for the same period in 2024, indicating a decrease of 43.5%[139] Tax and Interest Rates - The Company recorded an income tax expense of $13,810,000 for Q1 2025, compared to $11,480,000 for Q1 2024, with effective tax rates of 18.38% and 17.70% respectively[121] - The weighted average interest rate on borrowings was 3.06% for the first quarter of 2025, down from 4.36% in the same period of 2024[209] Market and Economic Conditions - The Federal Reserve's interest rate adjustments included a decrease of 50 basis points in September 2024, impacting the target rate range to 4.25% to 4.50% as of March 31, 2025[177] - The company has enhanced stress testing and loan review activities to mitigate interest rate reset risk due to the current interest rate environment[192]

Core Viewpoint - First Financial Bankshares, Inc. has appointed James Hinton as President of First Financial Mortgage, highlighting his extensive experience in the mortgage finance industry and his potential to drive growth within the company [1][2]. Company Overview - First Financial Bankshares, Inc. is headquartered in Abilene, Texas, and operates multiple banking regions with 79 locations across Texas [4]. - The company also includes First Financial Trust & Asset Management Company and First Technology Services, Inc. [4][5]. Leadership Appointment - James Hinton brings over 40 years of leadership experience in the mortgage finance sector, having previously led his family's mortgage company and held significant roles in other financial institutions [2]. - Hinton is a graduate of Southwestern Methodist University and is actively involved in community service as a certified SCORE mentor [3].

ABILENE, Texas, April 29, 2025 /PRNewswire/ -- First Financial Bankshares, Inc. (NASDAQ: FFIN) – In connection with the 2025 Annual Shareholders' Meeting, the Board of Directors of First Financial Bankshares, Inc. today declared a $0.19 per share cash dividend for the second quarter, which represents a 5.6 percent increase and will be paid to shareholders of record on June 16, 2025, with payment set for July 1, 2025.At the Annual Shareholders' Meeting, shareholders elected thirteen members to the Board of D ...

ABILENE, Texas, April 24, 2025 /PRNewswire/ -- The Board of Directors of First Financial Bank has announced the election of Jeff Vorhees as Executive Vice President and Treasurer of First Financial Bank."We are delighted to welcome Jeff to the Bank to fill this very important role leading our finance team," said David Bailey, President of First Financial Bankshares. "Jeff's recent position at a larger bank, as well as his experience as a former bank examiner, will be critical in helping us make strategic ba ...

Group 1 - The article revisits First Financial Bankshares (NASDAQ: FFIN) after three months, indicating a focus on long-term, buy-and-hold investment strategies that prioritize high-quality earnings [1] - The author emphasizes a preference for stocks that can sustainably deliver high-quality earnings, particularly in the dividend and income sectors [1] Group 2 - The article does not provide any specific financial metrics or performance data for First Financial Bankshares [1]

Core Viewpoint - First Financial Bankshares (FFIN) has received a Zacks Rank 2 (Buy) upgrade, indicating a positive earnings outlook that may lead to increased stock prices [1][3]. Earnings Estimates and Stock Price Impact - The Zacks rating system is based on changes in earnings estimates, which are strongly correlated with stock price movements [4][6]. - Rising earnings estimates for First Financial suggest an improvement in the company's underlying business, likely resulting in higher stock prices [5][10]. Earnings Estimate Revisions - First Financial is projected to earn $1.80 per share for the fiscal year ending December 2025, reflecting a year-over-year increase of 15.4% [8]. - Over the past three months, the Zacks Consensus Estimate for First Financial has risen by 10.1% [8]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with only the top 20% receiving a 'Strong Buy' or 'Buy' rating [9][10]. - The upgrade to Zacks Rank 2 places First Financial in the top 20% of Zacks-covered stocks, indicating strong potential for market-beating returns [10].

Core Viewpoint - First Financial Bankshares (FFIN) reported quarterly earnings of $0.43 per share, matching the Zacks Consensus Estimate and showing an increase from $0.37 per share a year ago [1] Financial Performance - The company posted revenues of $151.72 million for the quarter ended March 2025, exceeding the Zacks Consensus Estimate by 1.69% and up from $132.2 million year-over-year [2] - Over the last four quarters, First Financial has surpassed consensus revenue estimates four times [2] Stock Performance - First Financial shares have declined approximately 9.1% since the beginning of the year, compared to a decline of 10.3% for the S&P 500 [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.44 on revenues of $153.8 million, and for the current fiscal year, it is $1.78 on revenues of $619.5 million [7] - The estimate revisions trend for First Financial is mixed, which may change following the recent earnings report [6] Industry Context - The Banks - Southwest industry, to which First Financial belongs, is currently ranked in the top 11% of over 250 Zacks industries, suggesting a favorable outlook [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact stock performance [5]

Financial Performance - First Financial Bankshares reported Q1 2025 earnings of $61.35 million, up from $53.40 million in Q1 2024, with earnings per share increasing from $0.37 to $0.43[1] - Net interest income for Q1 2025 was $118.79 million, compared to $100.24 million in Q1 2024, reflecting a net interest margin increase from 3.34% to 3.74%[3] - Noninterest income increased to $30.23 million in Q1 2025, driven by trust fees rising to $12.65 million, while mortgage income decreased to $2.83 million[6] - Noninterest expenses totaled $70.34 million in Q1 2025, up from $63.94 million in Q1 2024, with an efficiency ratio improving from 48.37% to 46.36%[7] - Net income for Q1 2025 was $61,346 thousand, slightly down from $62,321 thousand in Q4 2024, reflecting a decrease of 1.6%[16] - Noninterest income for Q1 2025 was $30,230 thousand, a decrease of 2.4% from $30,977 thousand in Q4 2024[16] - Total noninterest income for the quarter was $30,230 thousand, a slight decrease from $30,977 thousand in the previous quarter[20] Credit Quality - The provision for credit losses rose to $3.53 million in Q1 2025 from $808 thousand in Q1 2024, with the allowance for credit losses at 1.27% of loans[4] - The provision for credit losses increased to $3,528 thousand in Q1 2025, compared to $1,003 thousand in Q4 2024, indicating a significant rise in credit loss provisions[16] - Nonperforming assets decreased to $61,688 thousand, representing 0.78% of loans held-for-investment and foreclosed assets, down from 0.80% in the previous quarter[18] - The total classified loans increased to $245,612 thousand, up from $233,851 thousand in the previous quarter, indicating a rise in credit risk[18] Assets and Liabilities - Total assets reached $14.31 billion as of March 31, 2025, compared to $13.19 billion a year earlier, with loans increasing to $7.95 billion[8] - Total assets increased to $14,312,114 thousand as of March 31, 2025, up from $13,979,418 thousand at the end of 2024, representing a growth of 2.4%[16] - Total deposits rose to $12,466,771 thousand in Q1 2025, up 3.0% from $12,099,174 thousand in Q4 2024[16] - Deposits and Repurchase Agreements grew by $362.79 million, or 12.10% annualized, to $12.52 billion in Q1 2025 compared to December 31, 2024[8] - Interest-bearing liabilities totaled $9,010,521 thousand, with deposits accounting for $8,882,040 thousand and an average interest rate of 2.17%[22] Shareholders' Equity - Shareholders' equity increased to $1.68 billion as of March 31, 2025, up from $1.49 billion a year prior[9] - Shareholders' equity increased to $1,645,535 thousand, indicating a stable capital position[22] Operational Efficiency - Salary and employee benefit costs rose to $42.14 million in Q1 2025, primarily due to merit-based pay increases and profit-sharing accruals[10] - The efficiency ratio improved to 46.36% in Q1 2025, compared to 46.81% in Q4 2024, indicating better cost management[16] Banking Operations - The company operates 79 banking locations across Texas and has a diversified deposit base, contributing to its financial stability[11] - Total loans held-for-investment reached $7,945,611 thousand as of March 31, 2025, compared to $7,913,098 thousand at the end of the previous quarter, indicating a growth in loan portfolio[18] Interest Income - Total interest-earning assets increased to $13,160,057 thousand with a net interest income of $121,489 thousand, resulting in a margin of 3.74% for the three months ended March 31, 2025[22] - The bank's net interest income increased from $118,790 thousand in the previous quarter to $121,489 thousand, reflecting a growth of 1.4%[22] - The average yield on loans was 6.71%, slightly down from 6.78% in the previous quarter[22]

Core Insights - First Financial Bankshares, Inc. reported a net income of $61.35 million for Q1 2025, an increase from $53.40 million in Q1 2024, with earnings per share rising to $0.43 from $0.37 [1][2][3] Financial Performance - Net interest income for Q1 2025 was $118.79 million, up from $100.24 million in Q1 2024, with a net interest margin of 3.74% compared to 3.34% a year earlier [3][6] - Noninterest income increased to $30.23 million in Q1 2025 from $29.38 million in Q1 2024, while noninterest expenses rose to $70.34 million from $63.94 million [6][16] - The efficiency ratio improved to 46.36% in Q1 2025 from 48.37% in Q1 2024, indicating better cost management [6][16] Asset and Loan Growth - Total assets reached $14.31 billion as of March 31, 2025, compared to $13.19 billion a year prior, with loans increasing to $7.95 billion from $7.23 billion [7][14] - Deposits and repurchase agreements grew to $12.52 billion, up from $11.60 billion in the same period last year, reflecting a 12.10% annualized growth [7][14] Credit Quality - The provision for credit losses was $3.53 million in Q1 2025, significantly higher than $808 thousand in Q1 2024, with the allowance for credit losses totaling $101.08 million, or 1.27% of loans [4][5] - Nonperforming assets as a percentage of loans and foreclosed assets increased to 0.78% from 0.51% year-over-year [5][15] Capital and Equity - Shareholders' equity rose to $1.68 billion as of March 31, 2025, compared to $1.49 billion a year earlier, indicating a strengthening capital position [8][14] - The unrealized loss on the securities portfolio decreased to $388.89 million from $441.23 million year-over-year, reflecting improved market conditions [8][14]

Core Points - First Financial Bankshares, Inc. will hold its 2025 Annual Shareholders' Meeting on April 29, 2025, at 10:30 a.m. Central time, which will be live-streamed [1] - Key executives including F. Scott Dueser, David Bailey, Michelle Hickox, and Lon Biebighauser will recap the operational and financial results for 2024 and the first quarter of 2025, as well as discuss the company's strategic direction [1] Company Overview - First Financial Bankshares, Inc. is headquartered in Abilene, Texas, and operates multiple banking regions with 79 locations across Texas [3] - The company also operates First Financial Trust & Asset Management Company and First Technology Services, Inc. [3] - It is listed on The NASDAQ Global Select Market under the trading symbol FFIN [4]