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]

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Investors might want to bet on First Financial Bankshares (FFIN) , as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices. The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked ...

It seems to be a wise idea to add the First Financial Bankshares (FFIN) stock to your portfolio now. The company is well-poised for top-line growth, driven by continued improvement in loans and deposit balances. Also, FFIN is expected to keep enhancing shareholder value through efficient capital distributions, given its solid balance sheet. Analysts seem optimistic regarding the company's earnings growth prospects. Over the past 30 days, the Zacks Consensus Estimate for FFIN's 2024 earnings has been revised ...

ABILENE, Texas, July 26, 2024 /PRNewswire/ -- First Financial Bankshares, Inc. (NASDAQ: FFIN) (the "Company", "we", "us", or "our") has announced the renewal of its existing stock repurchase plan. Pursuant to the renewed plan, the Company may repurchase up to 5,000,000 shares of its common stock, which represents approximately 3.5 percent of the Company's outstanding shares as of July 23, 2024, through July 31, 2025. The Board of Directors previously authorized the repurchase of up to 5,000,000 shares of co ...

For the quarter ended June 2024, First Financial Bankshares (FFIN) reported revenue of $137.11 million, up 6.5% over the same period last year. EPS came in at $0.37, compared to $0.36 in the year-ago quarter. Efficiency ratio: 47.4% versus the two-analyst average estimate of 47.8%. Net Interest Margin: 3.5% versus the two-analyst average estimate of 3.4%. Net Interest Income: $103.27 million versus the two-analyst average estimate of $100.60 million. Net Interest Income (FTE): $105.85 million compared to th ...

For immediate release For More Information: Michelle S. Hickox, EVP & Chief Financial Officer 325.627.7155 "We are pleased with the second quarter results that are highlighted by strong loan growth and net interest margin expansion which resulted in increased net interest income for the quarter, " said F. Scott Dueser, Chairman, CEO and President of First Financial Bankshares, Inc., "Our outlook is positive for the remainder of the year as we look to continue to remix our assets as cash flows from maturing ...

ABILENE, Texas, July 18, 2024 /PRNewswire/ -- First Financial Bankshares, Inc. (the "Company," "we," "us" or "our") (NASDAQ: FFIN) today reported earnings of $52.49 million for the second quarter of 2024 compared to earnings of $50.87 million for the same quarter a year ago and $53.4 million for the quarter ended March 31, 2024. Basic and diluted earnings per share were $0.37 for the second quarter of 2024 compared with $0.36 for the second quarter of 2023 and $0.37 for the linked quarter. "We are pleased w ...