First Financial Bankshares(US:FFIN) Prnewswire·2025-04-17 20:05Core 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]