Core Viewpoint - The article discusses the valuation concerns regarding First Financial Bankshares, a Texas-based bank, while highlighting its potential as a quality growth stock [1]. Company Summary - First Financial Bankshares is characterized as an excellent bank with strong fundamentals and growth potential [1]. - The investment approach favored is long-term, focusing on buy-and-hold strategies, particularly in high-quality earnings stocks [1]. Investment Strategy - The investment strategy emphasizes a preference for stocks that can sustainably deliver high-quality earnings, often found in the dividend and income sectors [1].

Earnings and Net Income - Fourth quarter 2024 earnings were $62.32 million, up from $55.31 million in Q3 2024 and $45.98 million in Q4 2023[1] - Full year 2024 net income was $223.51 million, a 12.33% increase from $198.98 million in 2023[2] - Net income for the year ended Dec. 31, 2024, reached $223,511 thousand, compared to $198,977 thousand in 2023[20] Net Interest Income - Net interest income for Q4 2024 was $116.12 million, compared to $107.11 million in Q3 2024 and $97.51 million in Q4 2023[4] - Net interest income for the year ended Dec. 31, 2024, was $426,741 thousand, up from $383,809 thousand in 2023[20] - Net interest income increased to $118.79 million in Q4 2024, up from $109.74 million in Q3 2024, with a margin of 3.67% compared to 3.50% in the previous quarter[27] - Net interest income and margin (tax equivalent) rose to $437,187 and 3.50% in 2024 from $395,361 and 3.29% in 2023[29] Loans and Deposits - Loans grew to $7.91 billion at December 31, 2024, a 10.69% increase from $7.15 billion at December 31, 2023[10] - Deposits and Repurchase Agreements totaled $12.16 billion at December 31, 2024, a 5.56% increase from $11.52 billion at December 31, 2023[10] - Loans held-for-investment grew to $7,913,098 thousand as of Dec. 31, 2024, from $7,148,791 thousand in Dec. 31, 2023[19] - Total deposits increased to $12,099,174 thousand as of Dec. 31, 2024, from $11,138,300 thousand in Dec. 31, 2023[19] - Total loans held-for-investment increased to $7.91 billion at the end of Q4 2024 from $7.72 billion at the end of Q3 2024[22] - Loans grew to $7,516,352 in 2024 from $6,784,352 in 2023, with a yield of 6.72% compared to 6.01% in 2023[29] - Deposits increased to $8,166,855 in 2024 from $7,188,171 in 2023, with a cost of 2.39% compared to 1.74% in 2023[29] Trust and Mortgage Income - Trust fee income increased by $1.98 million or 18.58% compared to the same quarter last year, driven by growth in assets under management to $10.83 billion[11] - Mortgage income increased to $3.01 million for Q4 2024 compared to $1.94 million in Q4 2023 due to increased loan volume[11] - Trust fees increased to $12.66 million in Q4 2024 from $11.69 million in Q3 2024[24] Employee Costs - Salary, commissions, and employee benefit costs increased to $41.64 million for Q4 2024, up from $35.75 million in Q4 2023[11] - Salaries, commissions and employee benefits increased to $37.99 million in Q4 2024 from $35.26 million in Q3 2024[24] - Salaries, commissions, and employee benefits (excluding profit sharing) grew to $143,830 million in 2024 from $130,542 million in 2023, an increase of 10.2%[25] Credit Losses and Nonperforming Assets - The allowance for credit losses totaled $98.33 million at December 31, 2024, compared to $88.73 million at December 31, 2023[6] - Nonperforming assets as a percentage of loans and foreclosed assets totaled 0.80% on December 31, 2024, compared to 0.83% at September 30, 2024 and 0.49% at December 31, 2023[7] - Allowance for loan losses decreased to $98.3 million at the end of Q4 2024 from $99.9 million at the end of Q3 2024[22] - Net charge-offs (recoveries) as a percentage of average total loans (annualized) increased to 0.10% in Q4 2024 from 0.04% in Q3 2024[22] - Nonperforming assets as a percentage of loans held-for-investment and foreclosed assets decreased to 0.80% at the end of Q4 2024 from 0.83% at the end of Q3 2024[22] - Provision for credit losses increased to $13,821 thousand in 2024 from $10,631 thousand in 2023[20] Total Assets and Equity - Total assets increased to $13,979,418 thousand as of Dec. 31, 2024, compared to $13,105,594 thousand in Dec. 31, 2023[19] - Shareholders' equity grew to $1.63 billion in Q4 2024, up from $1.57 billion in Q3 2024[27] - Total assets increased to $13.69 billion in Q4 2024, up from $13.29 billion in Q3 2024[27] - Shareholders' equity increased to $1,539,947 in 2024 from $1,327,827 in 2023[29] Noninterest Income and Expense - Noninterest income for the year ended Dec. 31, 2024, was $123,989 thousand, compared to $108,003 thousand in 2023[20] - Total noninterest income decreased to $30.98 million in Q4 2024 from $32.36 million in Q3 2024[24] - Total noninterest expense increased to $70.10 million in Q4 2024 from $66.01 million in Q3 2024[24] - Total noninterest expense increased to $265,063 million in 2024 from $237,882 million in 2023, up by 11.4%[25] Interest Rates and Yields - Net interest margin (tax equivalent) improved to 3.50% in 2024 from 3.29% in 2023[20] - Total interest-earning assets grew to $12.86 billion in Q4 2024, up from $12.48 billion in Q3 2024, with a yield of 5.21% compared to 5.18%[27] - Loans, the largest interest-earning asset, increased to $7.81 billion in Q4 2024, up from $7.64 billion in Q3 2024, maintaining a yield of 6.78%[27] - Interest-bearing deposits rose to $8.52 billion in Q4 2024, up from $8.24 billion in Q3 2024, with a cost of 2.29% compared to 2.51%[27] - Total interest-earning assets increased to $12,483,738 in 2024 from $12,000,403 in 2023, with a yield of 5.12% compared to 4.50% in 2023[29] - Interest-bearing deposits in nonaffiliated banks increased to $253,393 in 2024 from $115,785 in 2023, with a yield of 5.23% compared to 5.09% in 2023[29] - Total interest-bearing liabilities grew to $8,394,866 in 2024 from $7,837,638 in 2023, with a cost of 2.41% compared to 1.84% in 2023[29] Capital Ratios - Common equity Tier 1 capital ratio remained stable at 18.83% at the end of Q4 2024 compared to Q3 2024[24] Other Expenses - FDIC insurance premiums decreased to $1.51 million in Q4 2024 from $1.51 million in Q3 2024[24] - Software amortization and expense surged to $13,523 million in 2024 from $10,288 million in 2023, a rise of 31.4%[25] - Net occupancy expense increased to $14,579 million in 2024 from $13,766 million in 2023, up by 5.9%[25] - Legal, tax, and professional fees rose to $14,157 million in 2024 from $11,666 million in 2023, an increase of 21.4%[25] - Advertising, meals, and public relations expenses remained nearly flat at $6,028 million in 2024 compared to $6,032 million in 2023[25] Miscellaneous - Book value per share rose to $11.24 in 2024 from $10.50 in 2023[20] - Interest income increased to $47,449 million in 2024 from $40,456 million in 2023, reflecting a growth of 17.3%[25] - Debit card fees decreased slightly to $21,070 million in 2024 from $21,721 million in 2023, a decline of 3%[25] - Service charges on deposits dropped to $24,988 million in 2024 from $25,378 million in 2023, a decrease of 1.5%[25] - Interest on loan recoveries rose to $3,010 million in 2024 from $2,055 million in 2023, a significant increase of 46.5%[25] - Taxable securities grew to $3.32 billion in Q4 2024, up from $3.21 billion in Q3 2024, with a yield of 2.64% compared to 2.47%[27] - Federal funds sold decreased to $1.90 million in Q4 2024, down from $2.90 million in Q3 2024, with a yield of 4.90% compared to 5.84%[27] - Taxable securities decreased to $3,289,683 in 2024 from $3,500,839 in 2023, with a yield of 2.48% compared to 2.28% in 2023[29] - Tax-exempt securities decreased to $1,420,846 in 2024 from $1,597,204 in 2023, with a yield of 2.75% compared to 2.87% in 2023[29] - Noninterest-earning assets decreased to $840,674 in 2024 from $860,859 in 2023[29]

Core Viewpoint - First Financial Bankshares, Inc. has announced a series of promotions as part of its management succession plan, aimed at fostering the next generation of leaders while ensuring continuity in leadership [1][5]. Management Promotions - Ron Butler has been promoted to Vice Chairman of the Executive Management Committee and will continue as Chief Administrative Officer [2][6]. - David Bailey has been promoted to President of First Financial Bankshares, Inc. and First Financial Bank, succeeding F. Scott Dueser, who remains as CEO and Chairman [2][5]. - Lon Biebighauser has been elected President of First Financial Trust and Asset Management Company, replacing Kirk Thaxton, who will transition to a relationship manager role [3][16]. - Marelyn Shedd has been promoted to Chief Executive Officer of the Abilene Region, previously held by Ron Butler, while Marshall Morris has been elected as President of the Abilene Region [4][17]. Leadership Transition - The promotions are part of a strategic transition to allow senior officers to take on oversight roles, enabling the next generation of leaders to develop [5]. - F. Scott Dueser emphasized the importance of continuity and mentorship from long-standing leaders during this transition [5]. Company Background - First Financial Bankshares, Inc. is headquartered in Abilene, Texas, and operates multiple banking regions with 79 locations across Texas [20]. - The company also includes First Financial Trust & Asset Management Company, which has nine locations [20].

Financial Performance - Total assets increased to $13,582,932 thousand as of September 30, 2024, up from $12,777,418 thousand in the same period last year, representing a growth of 6.3%[7] - Net loans held-for-investment rose to $7,623,255 thousand, compared to $6,904,982 thousand a year ago, marking an increase of 10.4%[7] - Total deposits reached $11,755,861 thousand, up from $10,716,523 thousand, reflecting a year-over-year growth of 9.7%[7] - Shareholders' equity increased to $1,662,191 thousand, compared to $1,240,110 thousand in the prior year, indicating a significant rise of 34.0%[7] - Net earnings for the three months ended September 30, 2024, were $55,308 thousand, a 11.1% increase from $49,556 thousand in the same period of 2023[10] - Net earnings for the nine months ended September 30, 2024, were $161,190, compared to $152,997 for the same period in 2023, representing a growth of approximately 5.8%[18] - Basic and diluted net earnings per share for the three months ended September 30, 2024, were both $0.39, compared to $0.35 in the same period of 2023, indicating an increase of 11.4%[9] Income and Expenses - Total interest income for the three months ended September 30, 2024, was $159,958 thousand, an increase of 18.2% from $135,351 thousand in the same period of 2023[9] - Net interest income after provision for credit losses for the three months ended September 30, 2024, was $100,986 thousand, up 9.8% from $91,873 thousand in the prior year[9] - Noninterest income totaled $32,362 thousand for the three months ended September 30, 2024, compared to $28,070 thousand in the same period of 2023, reflecting a growth of 8.2%[9] - Total noninterest expense increased to $66,012 thousand for the three months ended September 30, 2024, from $59,539 thousand in the same period of 2023, representing an increase of 10.3%[9] - The provision for credit losses for the three months ended September 30, 2024, was $6,123 thousand, significantly higher than $2,276 thousand in the same period of 2023, reflecting increased credit risk[9] Deposits and Loans - Interest-bearing deposits increased to $8,452,718 thousand, up from $7,238,970 thousand, representing a growth of 16.7%[7] - Noninterest-bearing deposits decreased to $3,303,143 thousand from $3,477,553 thousand, a decline of 5.0% year-over-year[7] - Total loans held-for-investment increased to $7,723,191,000 as of September 30, 2024, up 10.4% from $6,994,696,000 in 2023[82] - The total commercial loan portfolio reached $1,509,506,000 as of September 30, 2024, up from $1,326,598,000 in 2023, representing a 13.8% increase[82] - The total consumer loan portfolio increased to $776,012,000 as of September 30, 2024, compared to $694,874,000 in 2023, reflecting an increase of 11.7%[82] Credit Losses and Risk Management - The allowance for credit losses was $99,936 thousand, up from $89,714 thousand, indicating a rise of 11.3%[7] - The company uses a collective reserve methodology for estimating the allowance for credit losses, considering historical default rates and economic conditions[53] - The allowance for credit losses is adjusted based on the company's historical default and loss experience, with significant economic variables impacting the estimates[55] - As of September 30, 2024, the reserve for unfunded commitments totaled $8,004,000, an increase from $7,903,000 at the same date in 2023[60] - The total amount of loans rated substandard increased to $15,000,000 in 2024 from $3,000,000 in 2023, reflecting a significant rise of 400%[101] Stock and Shareholder Information - The company reported a total of 142,906,070 shares issued as of September 30, 2024, compared to 142,677,069 shares a year earlier, reflecting a slight increase of 0.2%[7] - Cash dividends declared per share remained stable at $0.18 for both the three months ended September 30, 2024, and September 30, 2023[9] - Cash dividends declared were $0.54 per share for the nine months ended September 30, 2024, compared to $0.53 per share for the same period in 2023[14] - The company repurchased and retired 101,337 shares at an average price of $26.99 per share during September 2023[24] Regulatory and Accounting Changes - ASU 2022-06 extends the reference rate reform relief guidance until December 31, 2024, without significant impact on the financial statements[29] - ASU 2023-02 allows for proportional amortization of qualifying tax equity investments, early adopted by the company, with no significant impact on financial statements[30] - ASU 2023-09 requires detailed disclosures on income tax rates and expenses, effective for annual periods after December 15, 2024, with no significant impact expected[31] Future Outlook - The company is focusing on maintaining asset quality across all sectors while exploring opportunities for market expansion and new product development[105][106][107][109][110][111][112] - Future outlook remains positive with strategic initiatives aimed at enhancing operational efficiency and market presence[105][106][107][109][110][111][112]

Core Viewpoint - First Financial Bankshares (FFIN) has received a Zacks Rank 1 (Strong Buy) upgrade, indicating a positive earnings outlook that could favorably impact its stock price [1][2]. Earnings Outlook - The Zacks Consensus Estimate for First Financial is projected at $1.52 per share for the fiscal year ending December 2024, reflecting a year-over-year increase of 9.4% [5]. - Over the past three months, the Zacks Consensus Estimate for First Financial has risen by 1.6% [5]. Impact of Earnings Estimates - Changes in a company's future earnings potential, as indicated by earnings estimate revisions, are strongly correlated with near-term stock price movements [3]. - Institutional investors utilize earnings estimates to calculate the fair value of a company's shares, leading to significant stock price movements based on these estimates [3]. Zacks Rating System - The Zacks Rank stock-rating system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988 [4]. - The upgrade of First Financial to Zacks Rank 1 places it in the top 5% of Zacks-covered stocks, suggesting potential for market-beating returns in the near term [6].

Company Performance - First Financial Bankshares (FFIN) reported quarterly earnings of $0.39 per share, matching the Zacks Consensus Estimate, and an increase from $0.35 per share a year ago [1] - The company posted revenues of $142.1 million for the quarter ended September 2024, exceeding the Zacks Consensus Estimate by 1.32%, compared to $125.04 million in the same quarter last year [1] - Over the last four quarters, First Financial has surpassed consensus revenue estimates three times [1] Stock Performance - First Financial shares have increased approximately 27.9% since the beginning of the year, outperforming the S&P 500's gain of 22.5% [2] - The stock currently holds a Zacks Rank 2 (Buy), indicating expectations for it to outperform the market in the near future [4] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.39 on revenues of $141.2 million, and for the current fiscal year, it is $1.52 on revenues of $550.8 million [4] - The trend for estimate revisions for First Financial is favorable, which could influence future stock performance [4] Industry Context - The Banks - Southwest industry, to which First Financial belongs, is currently in the top 40% of over 250 Zacks industries, suggesting a positive outlook for stocks within this sector [5] - Another company in the same industry, Guaranty Bancshares Inc. (GNTY), is expected to report quarterly earnings of $0.62 per share, reflecting a year-over-year increase of 14.8% [5]

Earnings and Net Income - Earnings for Q3 2024 were $55.31 million, up 5.37% from Q2 2024 and 11.61% from Q3 2023[1] - Net income for the quarter ended September 30, 2024, was $55,308 thousand, compared to $49,556 thousand in the same period last year[11] Net Interest Income and Margin - Net interest income for Q3 2024 was $107.11 million, up 3.72% from Q2 2024 and 13.76% from Q3 2023[2] - Net interest income for the quarter ended September 30, 2024, was $107,109 thousand, up from $94,149 thousand in the same period last year[11] - Net interest margin (tax equivalent) for the quarter ended September 30, 2024, was 3.50%, compared to 3.22% in the same period last year[11] - Net interest income and margin (tax equivalent) rose to $109,737 million and 3.50% respectively in 2024, up from $105,845 million and 3.48% in 2023[16] - Net interest income and margin (tax equivalent) for the three months ended March 31, 2024, were $102,815 million and 3.34%, respectively, compared to $100,157 million and 3.33% in the same period of 2023[18] - Net interest income and margin (tax equivalent) rose to $318,397 with a margin of 3.44% for the nine months ended Sept. 30, 2024, up from $295,204 and a margin of 3.28% in 2023[20] Interest-Earning Assets and Liabilities - Average interest-earning assets for Q3 2024 were $12.48 billion, up 4.35% from Q3 2023[2] - Total interest-earning assets grew to $12,476,599 million in 2024, with a yield of 5.18%, compared to $12,225,554 million and 5.14% yield in 2023[17] - Total interest-earning assets for the three months ended March 31, 2024, were $12,365,145 million, yielding 4.95%, up from $11,927,332 million and 4.82% in the same period of 2023[18] - Total interest-earning assets increased to $12,356,205 with a yield of 5.09% for the nine months ended Sept. 30, 2024, compared to $12,025,028 and a yield of 4.39% for the same period in 2023[20] - Total interest-bearing liabilities stood at $8,366,500 million in 2024, with a cost of 2.51%, compared to $8,255,769 million and 2.46% in 2023[17] - Total interest-bearing liabilities for the three months ended March 31, 2024, were $8,328,496 million, costing 2.38%, compared to $8,007,918 million and 2.21% in the same period of 2023[18] - Total interest-bearing liabilities increased to $8,317,101 with a cost of 2.45% for the nine months ended Sept. 30, 2024, up from $7,780,255 and a cost of 1.71% in 2023[20] Loans and Deposits - Loans totaled $7.72 billion at September 30, 2024, up 10.76% annualized from June 30, 2024[6] - Deposits and Repurchase Agreements totaled $11.81 billion at September 30, 2024, up 9.14% annualized from June 30, 2024[6] - Loans, held-for-investment increased to $7,723,191 thousand as of September 30, 2024, up from $6,994,696 thousand in the same period last year[11] - Total loans held-for-investment increased to $7,723,191 thousand as of Sept. 30, 2024, up from $7,519,733 thousand in June 2024 and $6,994,696 thousand in Sept. 2023[14] - Total deposits increased to $11,755,861 thousand as of September 30, 2024, up from $10,716,523 thousand in the same period last year[11] - Loans increased to $7,643,238 million in 2024, contributing $130,220 million in interest income at a yield of 6.78%, up from $7,405,297 million and $124,237 million in 2023[17] - Noninterest-bearing deposits decreased slightly to $3,279,486 million in 2024 from $3,289,906 million in 2023[17] - Deposits rose to $8,047,136 with a cost of 2.42% for the nine months ended Sept. 30, 2024, compared to $7,126,471 and a cost of 1.61% in 2023[20] - Noninterest-bearing deposits decreased to $3,305,289 for the nine months ended Sept. 30, 2024, from $3,690,190 in 2023[20] Credit Losses and Allowance - Provision for credit losses for Q3 2024 was $6.12 million, up 3.91% from Q2 2024 and 168.42% from Q3 2023[3] - Provision for credit losses for the quarter ended September 30, 2024, was $6,123 thousand, compared to $2,276 thousand in the same period last year[11] - Allowance for loan losses increased to $99,936 thousand as of September 30, 2024, up from $89,714 thousand in the same period last year[13] - Total classified loans increased to $229,923 thousand in Sept. 2024 from $219,263 thousand in June 2024 and $179,105 thousand in Sept. 2023[14] Noninterest Income and Expense - Noninterest income for Q3 2024 was $32.36 million, up 15.28% from Q3 2023[4] - Trust fee income increased by $1.64 million (16.36%) in Q3 2024 compared to Q3 2023, driven by growth in assets under management to $10.86 billion[4] - Total noninterest income for Sept. 2024 was $32,362 thousand, compared to $31,268 thousand in June 2024 and $28,070 thousand in Sept. 2023[15] - Total noninterest income increased to $93,012 million in 2024 from $86,025 million in 2023, reflecting growth in trust fees and other income streams[16] - Total noninterest expense for Sept. 2024 was $66,012 thousand, up from $65,012 thousand in June 2024 and $59,539 thousand in Sept. 2023[15] Efficiency Ratio - The Company's efficiency ratio improved to 46.45% in Q3 2024 from 47.62% in Q3 2023[6] - Efficiency ratio for the quarter ended September 30, 2024, was 46.45%, compared to 47.62% in the same period last year[11] Shareholders' Equity and Capital Ratios - Shareholders' equity was $1.66 billion as of September 30, 2024, up 9.21% from June 30, 2024 and 33.87% from September 30, 2023[7] - Common equity Tier 1 capital ratio improved to 18.83% in Sept. 2024, up from 18.42% in June 2024 and 18.35% in Sept. 2023[15] - Tangible common equity ratio improved to 10.16% in Sept. 2024, up from 9.38% in June 2024 and 7.42% in Sept. 2023[15] - Equity/Assets ratio increased to 12.24% in Sept. 2024, compared to 11.54% in June 2024 and 9.71% in Sept. 2023[15] - Shareholders' equity increased to $1,508,192 for the nine months ended Sept. 30, 2024, compared to $1,344,228 in 2023[20] Total Assets and Liabilities - Total assets increased to $13,582,932 thousand as of September 30, 2024, up from $12,777,418 thousand in the same period last year[11] - Total assets expanded to $13,294,356 million in 2024, up from $13,081,273 million in 2023[17] - Total assets reached $13,202,224 for the nine months ended Sept. 30, 2024, up from $12,877,141 in 2023[20] Real Estate and Consumer Loans - Total real estate loans grew to $5,354,404 thousand in Sept. 2024, up from $5,161,023 thousand in June 2024 and $4,891,348 thousand in Sept. 2023[14] - Total consumer loans increased to $776,012 thousand in Sept. 2024, compared to $771,410 thousand in June 2024 and $694,874 thousand in Sept. 2023[14] Nonperforming Assets - Nonperforming assets as a percentage of loans held-for-investment and foreclosed assets decreased to 0.83% in Sept. 2024 from 0.81% in June 2024 and 0.57% in Sept. 2023[14] Repurchase Agreements and Borrowings - Repurchase agreements declined to $209,907 with a cost of 3.31% for the nine months ended Sept. 30, 2024, compared to $571,445 and a cost of 2.69% in 2023[20] - Borrowings decreased to $60,058 with a cost of 3.66% for the nine months ended Sept. 30, 2024, down from $82,339 and a cost of 3.97% in 2023[20] Return on Assets - Return on average assets for the quarter ended September 30, 2024, was 1.66%, compared to 1.53% in the same period last year[11]

Core Viewpoint - First Financial Bankshares, Inc. reported strong earnings growth in Q3 2024, with net income of $55.31 million, reflecting an 11.61% increase year-over-year, driven by growth in loans, deposits, and net interest income [1] Financial Performance - Net interest income for Q3 2024 was $107.11 million, up from $94.15 million in Q3 2023, with a net interest margin of 3.50% compared to 3.22% a year ago [1][3] - Noninterest income increased to $32.36 million in Q3 2024 from $28.07 million in Q3 2023, with notable growth in trust fee income [1][6] - Noninterest expense rose to $66.01 million in Q3 2024 from $59.54 million in Q3 2023, primarily due to increased salary and employee benefit costs [1][5] Asset and Loan Growth - Total assets reached $13.58 billion as of September 30, 2024, compared to $12.78 billion a year earlier [1][3] - Loans held-for-investment increased to $7.72 billion, up from $6.99 billion in the same period last year, with a quarterly growth of $203.46 million [1][5] - Deposits and repurchase agreements totaled $11.81 billion, an increase from $11.34 billion a year ago [1][3] Credit Quality - The provision for credit losses was $6.12 million in Q3 2024, compared to $2.28 million in Q3 2023, with an allowance for credit losses of $99.94 million, or 1.29% of loans [1][5] - Nonperforming assets as a percentage of loans and foreclosed assets were 0.83% as of September 30, 2024, compared to 0.57% a year ago [1][6] Shareholder Value - Shareholders' equity increased to $1.66 billion as of September 30, 2024, up from $1.24 billion a year earlier, attributed to a decrease in unrealized losses in the bond portfolio [1][3] - The company declared cash dividends of $0.18 per share, consistent with the previous year [3][4]

Core Points - First Financial Bank conducted its ninth annual Day of Service on October 14, 2024, partnering with 63 local non-profit and community organizations across Texas [1][2] - Over 1,000 employees from 79 branches participated in various service projects, demonstrating the bank's commitment to community support [1][2] - The CEO emphasized the importance of building partnerships with local non-profits and the responsibility of giving back to the community [2] Company Overview - First Financial Bank is a wholly owned subsidiary of First Financial Bankshares, Inc., listed on NASDAQ as FFIN [3] - The bank is headquartered in Abilene, Texas, and operates 79 locations across multiple banking regions in the state [3] - The company also includes First Financial Trust & Asset Management Company and First Technology Services, Inc. [3]

Company Overview - First Financial Bankshares (FFIN) is expected to report quarterly earnings of $0.39 per share, reflecting a year-over-year increase of +11.4% [3] - Revenues are anticipated to reach $140.25 million, which is a 12.2% increase from the same quarter last year [3] Earnings Estimates and Trends - The consensus EPS estimate has remained unchanged over the last 30 days, indicating stability in analyst expectations [4] - The Most Accurate Estimate for First Financial is the same as the Zacks Consensus Estimate, resulting in an Earnings ESP of 0% [10] - The company currently holds a Zacks Rank of 2 (Buy), which complicates the prediction of an earnings beat [11] Earnings Surprise History - In the last reported quarter, First Financial met the expected earnings of $0.37 per share, resulting in no surprise [12] - Over the past four quarters, the company has only beaten consensus EPS estimates once [13] Industry Context - In the Zacks Banks - Southwest industry, First Horizon National (FHN) is expected to report earnings of $0.38 per share, showing a year-over-year change of +40.7% [17] - First Horizon's revenue is projected to be $821.63 million, up 5.6% from the previous year [17] - The consensus EPS estimate for First Horizon has been revised down by 0.3% over the last 30 days, but it has an Earnings ESP of 3.18%, suggesting a likely earnings beat [18]