ABILENE, Texas, Oct. 19, 2017 /PRNewswire/ -- First
Financial Bankshares, Inc. (NASDAQ: FFIN) today reported earnings
for the third quarter of 2017 of $29.37
million, up 14.73 percent when compared with earnings of
$25.60 million in the same quarter
last year. Basic earnings per share were $0.44 for the third quarter of 2017 compared with
$0.39 in the same quarter a year
ago.
Net interest income for the third quarter of 2017 increased 5.22
percent to $59.69 million compared
with $56.73 million in the same
quarter of 2016. The net interest margin, on a taxable equivalent
basis, was 3.94 percent for the third quarter of 2017 compared to
4.05 percent for the second quarter of 2017 and 4.04 percent for
the third quarter of 2016. Included in interest income for the
third quarter of 2017 was $450
thousand, or two basis points in net interest margin,
related to discount accretion from fair value accounting related to
the Conroe and Orange acquisitions.
The provision for loan losses was $1.42
million in the third quarter of 2017 compared with
$1.73 million in the second quarter
of 2017 and $3.83 million in the
third quarter of 2016. The continued provision for loan losses in
2017 reflects growth in the loan portfolio, the continued levels of
gross charge-offs and the effects related to Hurricane Harvey.
Nonperforming assets as a percentage of loans and foreclosed assets
totaled 0.63 percent at September 30,
2017, compared with 0.71 percent at June 30, 2017, and 1.04 percent at September 30, 2016. Classified loans totaled
$121.29 million at September 30, 2017, compared to $117.61 million at June
30, 2017, and $126.60 million
at September 30, 2016. The higher
provision for loan losses and nonperforming asset levels in the
third quarter of 2016 when compared to the current period was
primarily related to one nonaccrual commercial loan, which was in
the process of liquidation at September 30,
2016, and has now been resolved.
At September 30, 2017, loans with
oil and gas industry exposure totaled 1.99% of gross loans. These
loans comprised $21.82 million of the
classified loan totals and $1.57
million of the nonperforming loan totals. In addition, there
were no net charge-offs related to these oil and gas loans for the
quarter ended September 30, 2017. At
September 30, 2017, the Company's
allowance for loan loss reserve specific to its total oil and gas
loan portfolio totaled 6.03% of total oil and gas loans.
Noninterest income increased 9.52 percent in the third quarter
of 2017 to $24.26 million compared
with $22.15 million in the same
quarter a year ago. Trust fees increased to $6.04 million in the third quarter of 2017
compared with $5.07 million in the
same quarter last year, due to continued growth in the fair value
of Trust assets managed to $4.92
billion from $4.22 billion a
year ago. ATM, interchange and credit card fees increased 5.67
percent to $6.34 million compared
with $6.00 million in the same
quarter last year due to continued growth in debit cards. Service
charges on deposits increased 5.98 percent to $5.08 million compared with $4.80 million in the same quarter a year ago due
to continued growth in net new accounts. Also included in
noninterest income during the third quarter of 2017 was a gain on
sale of securities of $1.08 million
compared to $239 thousand in the same
quarter a year ago and an increase in other noninterest income of
$629 thousand compared to the same
quarter a year ago, primarily resulting from a $505 thousand litigation settlement. Offsetting
these increases was a decrease in real estate mortgage fees of
$806 thousand or 17.16% compared to
the same quarter a year ago, partially due to the effects of
Hurricane Harvey.
Noninterest expense for the third quarter of 2017 totaled
$43.96 million compared to
$42.00 million in the third quarter
of 2016. The Company's efficiency ratio in the third quarter of
2017 was 48.71 percent compared with 49.33 percent in the same
quarter last year. The increase in noninterest expense in the third
quarter of 2017 was primarily a result of an increase in salary and
employee benefit costs to $24.14
million compared to $22.93
million in the same quarter a year ago, primarily due to
merit based pay increases and profit sharing expenses.
Additionally, operational and other losses increased $548 thousand when compared to the same quarter a
year ago, primarily related to hurricane and fraud losses.
For the nine months ended September 30,
2017, net income increased 7.83 percent to $84.23 million from $78.11
million a year ago. Basic earnings per share rose to
$1.27 from $1.18 in the same period last year. Net interest
income increased 3.22 percent to $175.79
million for the nine months ended September 30, 2017, from $170.30 million in the same period a year ago.
The provision for loan losses totaled $5.09
million compared with $8.22
million in the same period a year ago. Noninterest income
was $68.72 million for the first nine
months 2017 compared with $63.41
million in the same period a year ago. Noninterest expense
rose to $129.89 million compared with
$123.84 million during the same
period a year ago.
As of September 30, 2017,
consolidated assets for the Company totaled $7.01 billion compared to $6.95 billion at June 30,
2017, and $6.69 billion at
September 30, 2016. Loans grew to
$3.49 billion at September 30, 2017, compared with loans of
$3.46 billion at June 30, 2017 and $3.37
billion at September 30, 2016.
Deposits totaled $5.70 billion at
September 30, 2017, compared to
$5.63 billion at June 30, 2017, and $5.24
billion at September 30,
2016. Shareholders' equity rose to $906.56 million as of September 30, 2017, compared with $887.44 million at June
30, 2017, and $867.94 million
at September 30, 2016.
On October 12, 2017, the Company
announced the pending acquisition of Commercial Bancshares, Inc.
and its wholly owned subsidiary, Commercial State Bank
headquartered in Kingwood, Texas.
Commercial State Bank had total loans of $263.77 million, total deposits of $322.14 million and total assets of $366.83 at September 30,
2017.
"We continue to work diligently to grow loans and deposits,
reduce expenses to improve our bottom line while continuing to look
for acquisition opportunities like our recent Kingwood announcement to better utilize our
strong capital position and increase returns to our shareholders,"
said F. Scott Dueser, Chairman,
President and CEO. "This quarter, many of our employees and
customers in our Southeast Texas
and Conroe regions were
significantly affected by Hurricane Harvey. However, we are so
proud of how swiftly our Company responded by getting our branches
re-opened so we could meet the critical needs of our customers.
With the help of our employees, directors and customers throughout
our footprint, First Financial was able to raise over $300 thousand that was distributed to our
employees that were most effected by the hurricane," added
Dueser.
The Company has regional locations surrounding Houston in the Conroe, Willis, Tomball, Huntsville, Montgomery and Magnolia markets and in Southeast Texas in Orange, Beaumont, Vidor, Newton, Mauriceville and Port Arthur. Several of these markets were
impacted by Hurricane Harvey in late August. We continue to
evaluate the effect of the hurricane on our branch facilities,
loans and investment portfolio. To date, the amounts related to
damages at our physical locations not covered by insurance do not
appear to be significant. Combined, the Company had approximately
$846.45 million in loans throughout
these markets at September 30, 2017.
We continue to evaluate these loans and the related collateral and
business operations underlying these loans. We have provided
additional allowance for loan and lease losses as deemed
appropriate based on our analysis. Our tax exempt municipal bonds
in the counties of Texas effected
by the hurricane have been evaluated, including insurance on the
bonds. At September 30, 2017, our
municipal bonds in these counties totaled $254.48 million. Based on analysis of these bonds
and the related municipality, we do not believe we have any credit
related other than temporary impairment.
About First Financial Bankshares
Headquartered in Abilene,
Texas, First Financial Bankshares is a financial holding
company that through its subsidiary, First Financial Bank, N.A.,
operates multiple banking regions with 69 locations in Texas including Abilene, Acton, Albany, Aledo, Alvarado, Beaumont, Boyd, Bridgeport, Brock, Burleson, Cisco, Cleburne, Clyde, Conroe, Cut and Shoot, Decatur, Eastland, Fort
Worth, Glen Rose,
Granbury, Grapevine, Hereford, Huntsville, Keller, Magnolia, Mauriceville, Merkel, Midlothian, Mineral
Wells, Montgomery,
Moran, New Waverly, Newton, Odessa, Orange, Port
Arthur, Ranger,
Rising Star, Roby, San Angelo,
Southlake, Stephenville, Sweetwater, Tomball, Trent, Trophy Club, Vidor, Waxahachie, Weatherford, Willis, and Willow
Park. The Company also operates First Financial Trust &
Asset Management Company, N.A., with seven locations and First
Technology Services, Inc., a technology operating company.
The Company is listed on The NASDAQ Global Select Market under
the trading symbol FFIN. For more information about First
Financial Bankshares, please visit our website at
http://www.ffin.com
Certain statements contained herein may be considered
"forward-looking statements" as defined in the Private Securities
Litigation Reform Act of 1995. These statements are based upon the
belief of the Company's management, as well as assumptions made
beyond information currently available to the Company's management,
and may be, but not necessarily are, identified by such words as
"expect", "plan", "anticipate", "target", "forecast" and
"goal". Because such "forward-looking statements" are subject
to risks and uncertainties, actual results may differ materially
from those expressed or implied by such forward-looking
statements. Factors that could cause actual results to differ
materially from the Company's expectations include competition from
other financial institutions and financial holding companies; the
effects of and changes in trade, monetary and fiscal policies and
laws, including interest rate policies of the Federal Reserve
Board; changes in the demand for loans; fluctuations in value of
collateral and loan reserves; inflation, interest rate, market and
monetary fluctuations; changes in consumer spending, borrowing and
savings habits; and acquisitions and integration of acquired
businesses, and similar variables. Other key risks are
described in the Company's reports filed with the Securities and
Exchange Commission, which may be obtained under "Investor
Relations-Documents/Filings" on the Company's Web site or by
writing or calling the Company at 325.627.7155. Except as otherwise
stated in this news announcement, the Company does not undertake
any obligation to update publicly or revise any forward-looking
statements because of new information, future events or
otherwise.
FIRST FINANCIAL
BANKSHARES, INC.
|
CONSOLIDATED
FINANCIAL SUMMARY (UNAUDITED)
|
(In thousands,
except share and per share data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As
of
|
|
|
|
2017
|
|
|
2016
|
|
ASSETS
|
|
Sept.
30,
|
|
|
June
30,
|
|
|
Mar.
31,
|
|
|
Dec.
31,
|
|
|
Sept.
30,
|
|
Cash and due from
banks
|
$
|
177,615
|
|
$
|
163,435
|
|
$
|
163,674
|
|
$
|
204,782
|
|
$
|
166,981
|
|
Interest-bearing
deposits in banks
|
|
166,820
|
|
|
53,336
|
|
|
55,165
|
|
|
48,574
|
|
|
117,334
|
|
Interest-bearing time
deposits in banks
|
|
1,458
|
|
|
1,458
|
|
|
1,707
|
|
|
1,707
|
|
|
1,707
|
|
Fed funds
sold
|
|
-
|
|
|
3,740
|
|
|
3,840
|
|
|
3,130
|
|
|
3,400
|
|
Investment
securities
|
|
2,885,483
|
|
|
2,964,618
|
|
|
3,018,393
|
|
|
2,860,958
|
|
|
2,729,159
|
|
Loans
|
|
3,491,346
|
|
|
3,457,679
|
|
|
3,386,141
|
|
|
3,384,205
|
|
|
3,369,384
|
|
|
Allowance for loan
losses
|
|
(47,922)
|
|
|
(47,410)
|
|
|
(46,192)
|
|
|
(45,779)
|
|
|
(45,298)
|
|
Net loans
|
|
3,443,424
|
|
|
3,410,269
|
|
|
3,339,949
|
|
|
3,338,426
|
|
|
3,324,086
|
|
Premises and
equipment
|
|
125,668
|
|
|
123,620
|
|
|
122,787
|
|
|
122,685
|
|
|
122,725
|
|
Goodwill
|
|
139,971
|
|
|
139,971
|
|
|
139,971
|
|
|
139,971
|
|
|
139,971
|
|
Other intangible
assets
|
|
1,384
|
|
|
3,149
|
|
|
3,464
|
|
|
3,632
|
|
|
3,758
|
|
Other
assets
|
|
67,341
|
|
|
83,796
|
|
|
81,420
|
|
|
86,066
|
|
|
77,615
|
|
|
Total
assets
|
$
|
7,009,164
|
|
$
|
6,947,392
|
|
$
|
6,930,370
|
|
$
|
6,809,931
|
|
$
|
6,686,736
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND
SHAREHOLDERS' EQUITY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest-bearing
deposits
|
$
|
1,949,174
|
|
$
|
1,856,439
|
|
$
|
1,827,609
|
|
$
|
1,717,722
|
|
$
|
1,702,993
|
|
Interest-bearing
deposits
|
|
3,748,286
|
|
|
3,770,170
|
|
|
3,834,359
|
|
|
3,760,817
|
|
|
3,532,471
|
|
|
Total
deposits
|
|
5,697,460
|
|
|
5,626,609
|
|
|
5,661,968
|
|
|
5,478,539
|
|
|
5,235,464
|
|
Borrowings
|
|
351,435
|
|
|
379,324
|
|
|
360,264
|
|
|
445,770
|
|
|
513,759
|
|
Other
liabilities
|
|
53,713
|
|
|
54,017
|
|
|
48,784
|
|
|
47,737
|
|
|
69,569
|
|
Shareholders'
equity
|
|
906,556
|
|
|
887,442
|
|
|
859,354
|
|
|
837,885
|
|
|
867,944
|
|
|
Total liabilities and
shareholders' equity
|
$
|
7,009,164
|
|
$
|
6,947,392
|
|
$
|
6,930,370
|
|
$
|
6,809,931
|
|
$
|
6,686,736
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter
Ended
|
|
|
|
2017
|
|
|
2016
|
|
INCOME
STATEMENTS
|
|
Sept.
30,
|
|
|
June
30,
|
|
|
Mar.
31,
|
|
|
Dec
31,
|
|
|
Sept.
30,
|
|
Interest
income
|
$
|
62,554
|
|
$
|
61,182
|
|
$
|
58,783
|
|
$
|
57,979
|
|
$
|
58,093
|
|
Interest
expense
|
|
2,866
|
|
|
2,097
|
|
|
1,763
|
|
|
1,443
|
|
|
1,366
|
|
Net interest
income
|
|
59,688
|
|
|
59,085
|
|
|
57,020
|
|
|
56,536
|
|
|
56,727
|
|
Provision for loan
losses
|
|
1,415
|
|
|
1,725
|
|
|
1,950
|
|
|
1,993
|
|
|
3,833
|
|
Net interest income
after provision for loan losses
|
|
58,273
|
|
|
57,360
|
|
|
55,070
|
|
|
54,543
|
|
|
52,894
|
|
Noninterest
income
|
|
24,260
|
|
|
23,170
|
|
|
21,286
|
|
|
21,721
|
|
|
22,152
|
|
Noninterest
expense
|
|
43,964
|
|
|
43,775
|
|
|
42,152
|
|
|
41,990
|
|
|
42,003
|
|
|
Net income before
income taxes
|
|
38,569
|
|
|
36,755
|
|
|
34,204
|
|
|
34,274
|
|
|
33,043
|
|
Income tax
expense
|
|
9,195
|
|
|
8,500
|
|
|
7,605
|
|
|
7,608
|
|
|
7,440
|
|
|
Net income
|
$
|
29,374
|
|
$
|
28,255
|
|
$
|
26,599
|
|
$
|
26,666
|
|
$
|
25,603
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PER COMMON SHARE
DATA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income -
basic
|
$
|
0.44
|
|
$
|
0.43
|
|
$
|
0.40
|
|
$
|
0.40
|
|
$
|
0.39
|
|
Net income -
diluted
|
|
0.44
|
|
|
0.43
|
|
|
0.40
|
|
|
0.40
|
|
|
0.39
|
|
Cash dividends
declared
|
|
0.19
|
|
|
0.19
|
|
|
0.18
|
|
|
0.18
|
|
|
0.18
|
|
Book Value
|
|
13.69
|
|
|
13.41
|
|
|
12.99
|
|
|
12.68
|
|
|
13.14
|
|
Market
Value
|
$
|
45.20
|
|
$
|
44.20
|
|
$
|
40.10
|
|
$
|
45.20
|
|
$
|
36.44
|
|
Shares outstanding -
end of period
|
|
66,223,957
|
|
|
66,170,312
|
|
|
66,131,832
|
|
|
66,094,695
|
|
|
66,063,285
|
|
Average outstanding
shares - basic
|
|
66,140,518
|
|
|
66,100,089
|
|
|
66,073,399
|
|
|
66,037,447
|
|
|
66,023,069
|
|
Average outstanding
shares - diluted
|
|
66,417,281
|
|
|
66,344,943
|
|
|
66,363,222
|
|
|
66,307,119
|
|
|
66,147,202
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PERFORMANCE
RATIOS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Return on average
assets
|
|
1.65
|
%
|
1.64
|
%
|
|
1.57
|
%
|
|
1.59
|
%
|
|
1.54
|
%
|
Return on average
equity
|
|
12.95
|
|
|
12.94
|
|
|
12.74
|
|
|
12.44
|
|
|
11.72
|
|
Net interest margin
(tax equivalent)
|
|
3.94
|
|
|
4.05
|
|
|
4.03
|
|
|
4.01
|
|
|
4.04
|
|
Efficiency
ratio
|
|
48.71
|
|
|
49.32
|
|
|
49.67
|
|
|
49.61
|
|
|
49.33
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months
Ended
|
|
|
|
|
|
|
|
|
|
|
|
Sept.
30,
|
|
|
|
|
|
|
|
|
|
INCOME
STATEMENTS
|
|
2017
|
|
|
2016
|
|
|
|
|
|
|
|
|
|
|
Interest
income
|
$
|
182,519
|
|
$
|
174,309
|
|
|
|
|
|
|
|
|
|
|
Interest
expense
|
|
6,726
|
|
|
4,008
|
|
|
|
|
|
|
|
|
|
|
Net interest
income
|
|
175,793
|
|
|
170,301
|
|
|
|
|
|
|
|
|
|
|
Provision for loan
losses
|
|
5,090
|
|
|
8,219
|
|
|
|
|
|
|
|
|
|
|
Net interest income
after provision for loan losses
|
|
170,703
|
|
|
162,082
|
|
|
|
|
|
|
|
|
|
|
Noninterest
income
|
|
68,715
|
|
|
63,410
|
|
|
|
|
|
|
|
|
|
|
Noninterest
expense
|
|
129,891
|
|
|
123,840
|
|
|
|
|
|
|
|
|
|
|
|
Net income before
income taxes
|
|
109,527
|
|
|
101,652
|
|
|
|
|
|
|
|
|
|
|
Income tax
expense
|
|
25,300
|
|
|
23,544
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
$
|
84,227
|
|
$
|
78,108
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PER COMMON SHARE
DATA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income -
basic
|
$
|
1.27
|
|
$
|
1.18
|
|
|
|
|
|
|
|
|
|
|
Net income -
diluted
|
|
1.27
|
|
|
1.18
|
|
|
|
|
|
|
|
|
|
|
Cash dividends
declared
|
|
0.56
|
|
|
0.52
|
|
|
|
|
|
|
|
|
|
|
Book Value
|
|
13.69
|
|
|
13.14
|
|
|
|
|
|
|
|
|
|
|
Market
Value
|
$
|
45.20
|
|
$
|
36.44
|
|
|
|
|
|
|
|
|
|
|
Shares outstanding -
end of period
|
|
66,223,957
|
|
|
66,063,285
|
|
|
|
|
|
|
|
|
|
|
Average outstanding
shares - basic
|
|
66,104,914
|
|
|
66,004,797
|
|
|
|
|
|
|
|
|
|
|
Average outstanding
shares - diluted
|
|
66,392,210
|
|
|
66,135,918
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PERFORMANCE
RATIOS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Return on average
assets
|
|
1.62
|
%
|
1.59
|
%
|
|
|
|
|
|
|
|
|
|
Return on average
equity
|
|
12.88
|
|
|
12.33
|
|
|
|
|
|
|
|
|
|
|
Net interest margin
(tax equivalent)
|
|
4.01
|
|
|
4.10
|
|
|
|
|
|
|
|
|
|
|
Efficiency
ratio
|
|
49.22
|
|
|
49.09
|
|
|
|
|
|
|
|
|
|
|
FIRST FINANCIAL
BANKSHARES, INC.
|
SELECTED FINANCIAL
DATA (UNAUDITED)
|
(In
thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter
Ended
|
|
|
|
2017
|
|
|
2016
|
|
ALLOWANCE FOR LOAN
LOSSES
|
|
Sept.
30,
|
|
|
June
30,
|
|
|
Mar.
31,
|
|
|
Dec.
31,
|
|
|
Sept.
30,
|
|
Balance at beginning
of period
|
$
|
47,410
|
|
$
|
46,192
|
|
$
|
45,779
|
|
$
|
45,298
|
|
$
|
45,060
|
|
Loans charged
off
|
|
(1,180)
|
|
|
(1,174)
|
|
|
(2,026)
|
|
|
(1,774)
|
|
|
(4,372)
|
|
Loan
recoveries
|
|
277
|
|
|
667
|
|
|
489
|
|
|
262
|
|
|
777
|
|
Net recoveries
(charge-offs)
|
|
(903)
|
|
|
(507)
|
|
|
(1,537)
|
|
|
(1,512)
|
|
|
(3,595)
|
|
Provision for loan
losses
|
|
1,415
|
|
|
1,725
|
|
|
1,950
|
|
|
1,993
|
|
|
3,833
|
|
Balance at end of
period
|
$
|
47,922
|
|
$
|
47,410
|
|
$
|
46,192
|
|
$
|
45,779
|
|
$
|
45,298
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for loan
losses /
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
period-end loans
|
|
1.37
|
%
|
|
1.37
|
%
|
|
1.36
|
%
|
|
1.35
|
%
|
|
1.34
|
%
|
Allowance for loan
losses /
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
nonperforming
loans
|
|
243.57
|
|
|
210.95
|
|
|
159.48
|
|
|
161.44
|
|
|
131.04
|
|
Net charge-offs /
average loans
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(annualized)
|
|
0.10
|
|
|
0.06
|
|
|
0.18
|
|
|
0.18
|
|
|
0.43
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SUMMARY OF LOAN
CLASSIFICATION
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Special
Mention
|
$
|
35,237
|
|
$
|
27,999
|
|
$
|
23,341
|
|
$
|
24,787
|
|
$
|
25,488
|
|
Substandard
|
|
86,057
|
|
|
89,609
|
|
|
99,280
|
|
|
103,015
|
|
|
101,110
|
|
Doubtful
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
2
|
|
|
Total classified
loans
|
$
|
121,294
|
|
$
|
117,608
|
|
$
|
122,621
|
|
$
|
127,802
|
|
$
|
126,600
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NONPERFORMING
ASSETS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nonaccrual
loans
|
$
|
18,750
|
|
$
|
21,489
|
|
$
|
28,080
|
|
$
|
27,371
|
|
$
|
33,712
|
|
Accruing troubled
debt restructured loans
|
|
668
|
|
|
672
|
|
|
695
|
|
|
701
|
|
|
750
|
|
Accruing loans 90
days past due
|
|
257
|
|
|
314
|
|
|
190
|
|
|
284
|
|
|
107
|
|
|
Total nonperforming
loans
|
|
19,675
|
|
|
22,475
|
|
|
28,965
|
|
|
28,356
|
|
|
34,569
|
|
Foreclosed
assets
|
|
2,401
|
|
|
2,245
|
|
|
1,553
|
|
|
644
|
|
|
369
|
|
|
Total nonperforming
assets
|
$
|
22,076
|
|
$
|
24,720
|
|
$
|
30,518
|
|
$
|
29,000
|
|
$
|
34,938
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As a % of loans and
foreclosed assets
|
|
0.63
|
%
|
|
0.71
|
%
|
|
0.90
|
%
|
|
0.86
|
%
|
|
1.04
|
%
|
As a % of end of
period total assets
|
|
0.31
|
|
|
0.36
|
|
|
0.44
|
|
|
0.43
|
|
|
0.52
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OIL AND GAS
PORTFOLIO INFORMATION
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Oil and gas
loans
|
$
|
69,433
|
|
$
|
70,187
|
|
$
|
75,262
|
|
$
|
78,483
|
|
$
|
86,785
|
|
Oil and gas loans as
a % of total loans
|
|
1.99
|
%
|
2.03
|
%
|
|
2.22
|
%
|
|
2.32
|
%
|
|
2.58
|
%
|
Classified oil and
gas loans
|
|
21,817
|
|
|
24,404
|
|
|
29,077
|
|
|
32,518
|
|
|
31,541
|
|
Nonaccrual oil and
gas loans
|
|
1,569
|
|
|
2,860
|
|
|
3,208
|
|
|
4,092
|
|
|
5,140
|
|
Net charge-offs for
oil and gas loans
|
|
-
|
|
|
50
|
|
|
-
|
|
|
105
|
|
|
104
|
|
Allowance for oil and
gas loans as a % of oil and gas loans
|
|
6.03
|
%
|
|
7.24
|
%
|
|
6.59
|
%
|
|
6.28
|
%
|
|
5.60
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CAPITAL
RATIOS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common equity Tier 1
capital ratio
|
|
18.35
|
%
|
|
17.79
|
%
|
|
17.56
|
%
|
|
17.30
|
%
|
|
17.11
|
%
|
Tier 1 capital
ratio
|
|
18.35
|
|
|
17.79
|
|
|
17.56
|
|
|
17.30
|
|
|
17.11
|
|
Total capital
ratio
|
|
19.54
|
|
|
18.97
|
|
|
18.72
|
|
|
18.45
|
|
|
18.28
|
|
Tier 1
leverage
|
|
10.84
|
|
|
10.79
|
|
|
10.60
|
|
|
10.71
|
|
|
10.60
|
|
Equity to
assets
|
|
12.93
|
|
|
12.77
|
|
|
12.40
|
|
|
12.30
|
|
|
12.98
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter
Ended
|
|
|
|
|
|
|
2017
|
|
|
|
|
|
2016
|
|
NONINTEREST
INCOME
|
|
Sept.
30,
|
|
|
June
30,
|
|
|
Mar.
31,
|
|
|
Dec.
31,
|
|
|
Sept.
30,
|
|
Trust fees
|
$
|
6,040
|
|
$
|
5,747
|
|
$
|
6,017
|
|
$
|
5,189
|
|
$
|
5,066
|
|
Service charges on
deposits
|
|
5,083
|
|
|
4,883
|
|
|
4,550
|
|
|
4,773
|
|
|
4,796
|
|
ATM, interchange and
credit card fees
|
|
6,340
|
|
|
6,598
|
|
|
6,164
|
|
|
6,390
|
|
|
6,000
|
|
Real estate mortgage
fees
|
|
3,891
|
|
|
4,188
|
|
|
3,417
|
|
|
4,237
|
|
|
4,697
|
|
Net gain on sale of
available-for-sale securities
|
|
1,075
|
|
|
747
|
|
|
3
|
|
|
117
|
|
|
239
|
|
Net gain (loss) on
sale of foreclosed assets
|
|
(11)
|
|
|
(72)
|
|
|
41
|
|
|
112
|
|
|
(10)
|
|
Net gain (loss) on
sale of assets
|
|
(15)
|
|
|
(200)
|
|
|
4
|
|
|
(103)
|
|
|
(168)
|
|
Interest on loan
recoveries
|
|
405
|
|
|
337
|
|
|
154
|
|
|
141
|
|
|
709
|
|
Other noninterest
income
|
|
1,452
|
|
|
942
|
|
|
936
|
|
|
865
|
|
|
823
|
|
|
Total noninterest
income
|
$
|
24,260
|
|
$
|
23,170
|
|
$
|
21,286
|
|
$
|
21,721
|
|
$
|
22,152
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NONINTEREST
EXPENSE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Salaries and employee
benefits, excluding profit sharing
|
$
|
23,052
|
|
$
|
22,508
|
|
$
|
22,233
|
|
$
|
21,742
|
|
$
|
22,193
|
|
Profit sharing
expense
|
|
1,091
|
|
|
957
|
|
|
1,026
|
|
|
1,329
|
|
|
738
|
|
Loss from partial
settlement of pension plan
|
|
-
|
|
|
-
|
|
|
-
|
|
|
267
|
|
|
-
|
|
Net occupancy
expense
|
|
2,711
|
|
|
2,771
|
|
|
2,600
|
|
|
2,534
|
|
|
2,672
|
|
Equipment
expense
|
|
3,294
|
|
|
3,665
|
|
|
3,437
|
|
|
3,293
|
|
|
3,420
|
|
FDIC insurance
premiums
|
|
561
|
|
|
550
|
|
|
547
|
|
|
525
|
|
|
513
|
|
ATM, interchange and
credit card expenses
|
|
2,001
|
|
|
1,803
|
|
|
1,713
|
|
|
1,879
|
|
|
1,859
|
|
Legal, tax and
professional fees
|
|
2,396
|
|
|
2,526
|
|
|
2,478
|
|
|
2,386
|
|
|
2,389
|
|
Audit
fees
|
|
356
|
|
|
379
|
|
|
419
|
|
|
331
|
|
|
413
|
|
Printing, stationery
and supplies
|
|
449
|
|
|
536
|
|
|
438
|
|
|
590
|
|
|
536
|
|
Amortization of
intangible assets
|
|
143
|
|
|
165
|
|
|
168
|
|
|
168
|
|
|
172
|
|
Advertising and
public relations
|
|
1,527
|
|
|
1,576
|
|
|
1,544
|
|
|
1,574
|
|
|
1,729
|
|
Operational and other
losses
|
|
1,081
|
|
|
574
|
|
|
985
|
|
|
717
|
|
|
533
|
|
Software amortization
and expense
|
|
742
|
|
|
995
|
|
|
500
|
|
|
525
|
|
|
490
|
|
Other noninterest
expense
|
|
4,560
|
|
|
4,770
|
|
|
4,064
|
|
|
4,130
|
|
|
4,346
|
|
|
Total noninterest
expense
|
$
|
43,964
|
|
$
|
43,775
|
|
$
|
42,152
|
|
$
|
41,990
|
|
$
|
42,003
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TAX EQUIVALENT
YIELD ADJUSTMENT
|
$
|
6,312
|
|
$
|
6,509
|
|
$
|
6,550
|
|
$
|
6,391
|
|
$
|
6,271
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months
Ended
|
|
|
|
|
|
|
|
|
|
|
|
Sept.
30,
|
|
|
|
|
|
|
|
|
|
NONINTEREST
INCOME
|
|
2017
|
|
|
2016
|
|
|
|
|
|
|
|
|
|
|
Trust fees
|
$
|
17,804
|
|
$
|
14,446
|
|
|
|
|
|
|
|
|
|
|
Service charges on
deposits
|
|
14,517
|
|
|
13,614
|
|
|
|
|
|
|
|
|
|
|
ATM, interchange and
credit card fees
|
|
19,102
|
|
|
17,521
|
|
|
|
|
|
|
|
|
|
|
Real estate mortgage
fees
|
|
11,496
|
|
|
11,849
|
|
|
|
|
|
|
|
|
|
|
Net gain (loss) on
sale of available-for-sale securities
|
|
1,825
|
|
|
1,153
|
|
|
|
|
|
|
|
|
|
|
Net gain (loss) on
sale of foreclosed assets
|
|
(42)
|
|
|
343
|
|
|
|
|
|
|
|
|
|
|
Net gain (loss) on
sale of assets
|
|
(211)
|
|
|
271
|
|
|
|
|
|
|
|
|
|
|
Interest on loan
recoveries
|
|
896
|
|
|
1,970
|
|
|
|
|
|
|
|
|
|
|
Other noninterest
income
|
|
3,328
|
|
|
2,243
|
|
|
|
|
|
|
|
|
|
|
|
Total noninterest
income
|
$
|
68,715
|
|
$
|
63,410
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NONINTEREST
EXPENSE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Salaries and employee
benefits, excluding profit sharing
|
$
|
67,793
|
|
$
|
65,776
|
|
|
|
|
|
|
|
|
|
|
Profit sharing
expense
|
|
3,074
|
|
|
1,892
|
|
|
|
|
|
|
|
|
|
|
Net occupancy
expense
|
|
8,081
|
|
|
7,886
|
|
|
|
|
|
|
|
|
|
|
Equipment
expense
|
|
10,397
|
|
|
10,186
|
|
|
|
|
|
|
|
|
|
|
FDIC insurance
premiums
|
|
1,657
|
|
|
2,155
|
|
|
|
|
|
|
|
|
|
|
ATM, interchange and
credit card expenses
|
|
5,517
|
|
|
5,352
|
|
|
|
|
|
|
|
|
|
|
Legal, tax and
professional fees
|
|
7,399
|
|
|
6,708
|
|
|
|
|
|
|
|
|
|
|
Audit
fees
|
|
1,154
|
|
|
1,263
|
|
|
|
|
|
|
|
|
|
|
Printing, stationery
and supplies
|
|
1,423
|
|
|
1,504
|
|
|
|
|
|
|
|
|
|
|
Amortization of
intangible assets
|
|
477
|
|
|
570
|
|
|
|
|
|
|
|
|
|
|
Advertising and
public relations
|
|
4,646
|
|
|
4,710
|
|
|
|
|
|
|
|
|
|
|
Operational and other
losses
|
|
2,639
|
|
|
1,452
|
|
|
|
|
|
|
|
|
|
|
Software amortization
and expense
|
|
2,237
|
|
|
1,481
|
|
|
|
|
|
|
|
|
|
|
Other noninterest
expense
|
|
13,397
|
|
|
12,905
|
|
|
|
|
|
|
|
|
|
|
|
Total noninterest
expense
|
$
|
129,891
|
|
$
|
123,840
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TAX EQUIVALENT
YIELD ADJUSTMENT
|
$
|
19,371
|
|
$
|
18,554
|
|
|
|
|
|
|
|
|
|
|
FIRST FINANCIAL
BANKSHARES, INC.
|
SELECTED FINANCIAL
DATA (UNAUDITED)
|
(In
thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
|
|
Three Months
Ended
|
|
|
Sept. 30,
2017
|
|
|
|
June 30,
2017
|
|
|
|
Average
|
|
|
Tax
Equivalent
|
|
|
Yield
/
|
|
|
|
|
|
Average
|
|
|
Tax
Equivalent
|
|
|
Yield
/
|
|
|
|
|
Balance
|
|
|
Interest
|
|
|
Rate
|
|
|
|
|
|
Balance
|
|
|
Interest
|
|
|
Rate
|
|
Interest-earning
assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fed funds
sold
|
$
|
2,467
|
|
$
|
9
|
|
|
1.43
|
%
|
|
|
|
$
|
5,229
|
|
$
|
8
|
|
|
0.64
|
%
|
Interest-bearing deposits in nonaffiliated banks
|
|
198,322
|
|
|
629
|
|
|
1.26
|
|
|
|
|
|
45,043
|
|
|
112
|
|
|
1.00
|
|
Taxable
securities
|
|
1,492,246
|
|
|
8,074
|
|
|
2.16
|
|
|
|
|
|
1,494,187
|
|
|
8,343
|
|
|
2.23
|
|
Tax exempt
securities
|
|
1,477,559
|
|
|
16,884
|
|
|
4.57
|
|
|
|
|
|
1,528,760
|
|
|
17,414
|
|
|
4.56
|
|
Loans
|
|
3,468,524
|
|
|
43,270
|
|
|
4.95
|
|
|
|
|
|
3,418,105
|
|
|
41,814
|
|
|
4.91
|
|
Total
interest-earning assets
|
|
6,639,118
|
|
$
|
68,866
|
|
|
4.12
|
%
|
|
|
|
|
6,491,324
|
|
$
|
67,691
|
|
|
4.18
|
%
|
Noninterest-earning
assets
|
|
431,070
|
|
|
|
|
|
|
|
|
|
|
|
428,245
|
|
|
|
|
|
|
|
|
Total
assets
|
$
|
7,070,188
|
|
|
|
|
|
|
|
|
|
|
$
|
6,919,569
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-bearing
liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deposits
|
$
|
3,728,442
|
|
$
|
2,228
|
|
|
0.24
|
%
|
|
|
|
$
|
3,803,412
|
|
$
|
1,930
|
|
|
0.20
|
%
|
Fed funds
purchased and other borrowings
|
|
524,357
|
|
|
638
|
|
|
0.48
|
|
|
|
|
|
372,910
|
|
|
167
|
|
|
0.18
|
|
Total
interest-bearing liabilities
|
|
4,252,799
|
|
$
|
2,866
|
|
|
0.27
|
%
|
|
|
|
|
4,176,322
|
|
$
|
2,097
|
|
|
0.20
|
%
|
Noninterest-bearing
liabilities
|
|
1,917,681
|
|
|
|
|
|
|
|
|
|
|
|
1,867,596
|
|
|
|
|
|
|
|
Shareholders'
equity
|
|
899,708
|
|
|
|
|
|
|
|
|
|
|
|
875,651
|
|
|
|
|
|
|
|
|
Total liabilities and
shareholders' equity
|
$
|
7,070,188
|
|
|
|
|
|
|
|
|
|
|
$
|
6,919,569
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest income
and margin (tax equivalent)
|
|
|
|
$
|
66,000
|
|
|
3.94
|
%
|
|
|
|
|
|
|
$
|
65,594
|
|
|
4.05
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
|
|
Three Months
Ended
|
|
|
Mar. 31,
2017
|
|
|
|
Dec. 31,
2016
|
|
|
|
Average
|
|
|
Tax
Equivalent
|
|
|
Yield
/
|
|
|
|
|
|
Average
|
|
|
Tax
Equivalent
|
|
|
Yield
/
|
|
|
|
|
Balance
|
|
|
Interest
|
|
|
Rate
|
|
|
|
|
|
Balance
|
|
|
Interest
|
|
|
Rate
|
|
Interest-earning
assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fed funds
sold
|
$
|
3,529
|
|
$
|
2
|
|
|
0.23
|
%
|
|
|
|
$
|
4,703
|
|
$
|
5
|
|
|
0.42
|
%
|
Interest-bearing deposits in nonaffiliated banks
|
|
134,556
|
|
|
274
|
|
|
0.83
|
|
|
|
|
|
85,907
|
|
|
116
|
|
|
0.54
|
|
Taxable
securities
|
|
1,367,331
|
|
|
7,431
|
|
|
2.17
|
|
|
|
|
|
1,281,717
|
|
|
6,459
|
|
|
2.02
|
|
Tax exempt
securities
|
|
1,529,610
|
|
|
17,561
|
|
|
4.59
|
|
|
|
|
|
1,489,463
|
|
|
16,958
|
|
|
4.55
|
|
Loans
|
|
3,369,599
|
|
|
40,065
|
|
|
4.82
|
|
|
|
|
|
3,374,652
|
|
|
40,831
|
|
|
4.81
|
|
Total
interest-earning assets
|
|
6,404,625
|
|
$
|
65,333
|
|
|
4.14
|
%
|
|
|
|
|
6,236,442
|
|
$
|
64,369
|
|
|
4.11
|
%
|
Noninterest-earning
assets
|
|
446,961
|
|
|
|
|
|
|
|
|
|
|
|
434,629
|
|
|
|
|
|
|
|
|
Total
assets
|
$
|
6,851,586
|
|
|
|
|
|
|
|
|
|
|
$
|
6,671,071
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-bearing
liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deposits
|
$
|
3,808,933
|
|
$
|
1,590
|
|
|
0.17
|
%
|
|
|
|
$
|
3,580,489
|
|
$
|
1,305
|
|
|
0.14
|
%
|
Fed funds
purchased and other borrowings
|
|
448,217
|
|
|
173
|
|
|
0.16
|
|
|
|
|
|
488,240
|
|
|
137
|
|
|
0.11
|
|
Total
interest-bearing liabilities
|
|
4,257,150
|
|
$
|
1,763
|
|
|
0.17
|
%
|
|
|
|
|
4,068,729
|
|
$
|
1,442
|
|
|
0.14
|
%
|
Noninterest-bearing
liabilities
|
|
1,747,532
|
|
|
|
|
|
|
|
|
|
|
|
1,749,320
|
|
|
|
|
|
|
|
Shareholders'
equity
|
|
846,904
|
|
|
|
|
|
|
|
|
|
|
|
853,022
|
|
|
|
|
|
|
|
|
Total liabilities and
shareholders' equity
|
$
|
6,851,586
|
|
|
|
|
|
|
|
|
|
|
$
|
6,671,071
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest income
and margin (tax equivalent)
|
|
|
|
$
|
63,570
|
|
|
4.03
|
%
|
|
|
|
|
|
|
$
|
62,927
|
|
|
4.01
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sept. 30,
2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average
|
|
|
Tax
Equivalent
|
|
|
Yield
/
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance
|
|
|
Interest
|
|
|
Rate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-earning
assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fed funds
sold
|
$
|
4,596
|
|
$
|
4
|
|
|
0.33
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-bearing deposits in nonaffiliated banks
|
|
69,285
|
|
|
95
|
|
|
0.55
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Taxable
securities
|
|
1,305,103
|
|
|
6,775
|
|
|
2.08
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tax exempt
securities
|
|
1,478,719
|
|
|
16,541
|
|
|
4.47
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans
|
|
3,349,458
|
|
|
40,948
|
|
|
4.86
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
interest-earning assets
|
|
6,207,161
|
|
$
|
64,363
|
|
|
4.13
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest-earning
assets
|
|
428,239
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
assets
|
$
|
6,635,400
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-bearing
liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deposits
|
$
|
3,460,208
|
|
$
|
1,111
|
|
|
0.13
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
Fed funds
purchased and other borrowings
|
|
569,883
|
|
|
254
|
|
|
0.18
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
interest-bearing liabilities
|
|
4,030,091
|
|
$
|
1,365
|
|
|
0.13
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest-bearing
liabilities
|
|
1,736,071
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shareholders'
equity
|
|
869,238
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total liabilities and
shareholders' equity
|
$
|
6,635,400
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest income
and margin (tax equivalent)
|
|
|
|
$
|
62,998
|
|
|
4.04
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months
Ended
|
|
|
|
Nine Months
Ended
|
|
|
Sept. 30,
2017
|
|
|
|
Sept. 30,
2016
|
|
|
|
Average
|
|
|
Tax
Equivalent
|
|
|
Yield
/
|
|
|
|
|
|
Average
|
|
|
Tax
Equivalent
|
|
|
Yield
/
|
|
|
|
|
Balance
|
|
|
Interest
|
|
|
Rate
|
|
|
|
|
|
Balance
|
|
|
Interest
|
|
|
Rate
|
|
Interest-earning
assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fed funds
sold
|
$
|
3,738
|
|
$
|
20
|
|
|
0.70
|
%
|
|
|
|
$
|
5,939
|
|
$
|
19
|
|
|
0.44
|
%
|
Interest-bearing deposits in nonaffiliated banks
|
|
126,207
|
|
|
1,016
|
|
|
1.08
|
|
|
|
|
|
48,969
|
|
|
202
|
|
|
0.55
|
|
Taxable
securities
|
|
1,451,712
|
|
|
23,848
|
|
|
2.19
|
|
|
|
|
|
1,325,935
|
|
|
21,167
|
|
|
2.13
|
|
Tax exempt
securities
|
|
1,511,786
|
|
|
51,859
|
|
|
4.57
|
|
|
|
|
|
1,448,933
|
|
|
49,313
|
|
|
4.54
|
|
Loans
|
|
3,419,105
|
|
|
125,147
|
|
|
4.89
|
|
|
|
|
|
3,319,337
|
|
|
122,162
|
|
|
4.92
|
|
Total
interest-earning assets
|
|
6,512,548
|
|
$
|
201,890
|
|
|
4.14
|
%
|
|
|
|
|
6,149,113
|
|
$
|
192,863
|
|
|
4.19
|
%
|
Noninterest-earning
assets
|
|
435,367
|
|
|
|
|
|
|
|
|
|
|
|
425,847
|
|
|
|
|
|
|
|
|
Total
assets
|
$
|
6,947,915
|
|
|
|
|
|
|
|
|
|
|
$
|
6,574,960
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-bearing
liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deposits
|
$
|
3,779,967
|
|
$
|
5,748
|
|
|
0.20
|
%
|
|
|
|
$
|
3,431,572
|
|
$
|
3,197
|
|
|
0.12
|
%
|
Fed funds
purchased and other short term borrowings
|
|
448,773
|
|
|
978
|
|
|
0.29
|
|
|
|
|
|
573,464
|
|
|
811
|
|
|
0.19
|
|
Total
interest-bearing liabilities
|
|
4,228,740
|
|
$
|
6,726
|
|
|
0.21
|
%
|
|
|
|
|
4,005,036
|
|
$
|
4,008
|
|
|
0.13
|
%
|
Noninterest-bearing
liabilities
|
|
1,844,894
|
|
|
|
|
|
|
|
|
|
|
|
1,723,790
|
|
|
|
|
|
|
|
Shareholders'
equity
|
|
874,281
|
|
|
|
|
|
|
|
|
|
|
|
846,134
|
|
|
|
|
|
|
|
|
Total liabilities and
shareholders' equity
|
$
|
6,947,915
|
|
|
|
|
|
|
|
|
|
|
$
|
6,574,960
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest income
and margin (tax equivalent)
|
|
|
|
$
|
195,164
|
|
|
4.01
|
%
|
|
|
|
|
|
|
$
|
188,855
|
|
|
4.10
|
%
|
View original
content:http://www.prnewswire.com/news-releases/first-financial-bankshares-announces-third-quarter-earnings-results-300540145.html
SOURCE First Financial Bankshares, Inc.