ABILENE,
Texas, July 20, 2023 /PRNewswire/ -- First
Financial Bankshares, Inc. (the "Company," "we," "us" or
"our") (NASDAQ: FFIN) today reported earnings of $50.87 million for the second quarter of 2023
compared to earnings of $60.49
million for the same quarter a year ago. Basic and diluted
earnings per share were $0.36 for the
second quarter of 2023 compared with $0.42 for the second quarter of 2022.
As further described below, the results this quarter when
compared to the same quarter a year ago included (i) a $2.92 million decrease in net interest income,
(ii) a $3.15 million decrease in
debit card fees, (iii) a $2.19
million decrease in mortgage revenues, (iv) a $1.60 million decrease in gains on sale of
available for sale securities, and (v) a $1.17 million decrease in interest recoveries on
charged off loans. Offsetting these decreases in income was a
$1.34 million decrease in profit
sharing expense.
"We are pleased with the strong, organic loan growth, our
consistent deposit base and the continued growth in net new
accounts which was over 4,000 accounts during the quarter. While we
continue to experience rising interest expense costs, we have been
able to mitigate some of the impact on the net interest margin by
investing our bond portfolio cash flows into our higher yielding
loan portfolio. In addition, our outlook for mortgage activity has
improved with our new team of experienced mortgage lenders in the
Bryan, College Station region and
increased activity as home buyers seem to have become more
accustomed to higher rates," said F. Scott
Dueser, Chairman, CEO and President of First Financial
Bankshares, Inc. "Looking forward, we plan to continue to grow
loans and deposits, maintain our strong capital position, manage
interest rate risk and reduce expenses. To cut expenses, I have
made the personal decision to forgo awards of stock options,
restricted stock grants, performance stock grants and my annual
bonus for 2023. I am a firm believer that cost savings should
start with the CEO. As always, we appreciate the continued support
of our customers, shareholders, and associates," Dueser added.
Net interest income for the second quarter of 2023 was
$95.87 million compared to
$98.78 million for the second quarter
of 2022. The net interest margin, on a taxable equivalent basis,
was 3.29 percent for the second quarter of 2023 compared to 3.34
percent for the first quarter of 2023 and 3.30 percent in the
second quarter of 2022. Average interest-earning assets were
$12.05 billion for the second quarter
of 2023 compared to $12.49 billion
for the same quarter a year ago.
The Company recorded a provision for credit losses of
$5.57 million for the second quarter
of 2023 compared to a provision for credit losses of $5.35 million for the second quarter of 2022. At
June 30, 2023, the allowance for
credit losses totaled $86.54 million,
or 1.28 percent of loans held-for-investment ("loans" hereafter),
compared to $71.93 million at
June 30, 2022, or 1.22 percent of
loans. Additionally, the reserve for unfunded commitments totaled
$9.45 million at June 30, 2023 compared to $8.72 million at June 30,
2022.
For the second quarter of 2023, net charge-offs totaled
$799 thousand compared to net
recoveries of $916 thousand for the
second quarter of 2022. Nonperforming assets as a percentage of
loans and foreclosed assets totaled 0.43 percent at both
June 30, 2023, and June 30, 2022. Classified loans totaled
$175.14 million at June 30, 2023, compared to $152.67 million at June
30, 2022.
Noninterest income for the second quarter of 2023 was
$29.95 million compared to
$37.32 million for the second quarter
of 2022, largely due to the following:
- Debit card fees decreased by $3.15
million for the second quarter of 2023 compared to the same
quarter a year ago. The decrease was due to the impact of becoming
subject to regulations that limit debit card interchange revenue
("Durbin Amendment") effective at the start of third quarter last
year. Accordingly, the second quarter of 2023 is the last quarter
that will be impacted for comparability purposes to the prior year
as a result of the Company becoming subject to the Durbin
Amendment.
- Mortgage income declined to $3.53
million for the second quarter of 2023 compared to
$5.73 million for the second quarter
of 2022 due to lower overall origination volume and margins
primarily because of the significant increase in mortgage interest
rates.
- Available for sale securities were sold in the second quarter
last year for gain on sales of $1.65
million. Securities sales activity in subsequent quarters in
2022 and in the second quarter of 2023 did not generate similar
gains.
- Recoveries of interest on previously charged-off or nonaccrual
loans totaled $475 thousand for the
second quarter of 2023 compared to $1.65
million for the second quarter of 2022, which was a larger
than normal amount.
- Service charges on deposits increased to $6.31 million for the second quarter of 2023
compared with $6.04 million for the
second quarter of 2022, driven by the growth in net new
accounts.
Noninterest expense for the second quarter of 2023 totaled
$57.61 million compared to
$58.33 million for the second quarter
of 2022, as a result of the following:
- Salary, commissions, and employee benefit costs decreased to
$31.77 million for the second quarter
of 2023, compared to $33.15 million
in the second quarter of 2022 primarily resulting from a decrease
of $1.34 million in profit sharing
expense and $428 thousand in mortgage
incentives.
- Noninterest expenses, excluding salary related costs, increased
$661 thousand for the second quarter
of 2023 compared to the same period in 2022 largely due to an
increase of $513 thousand in FDIC
insurance fees.
The Company's efficiency ratio was 44.74 percent for the second
quarter of 2023 compared to 41.61 percent for the second quarter of
2022. The increase was driven by the decrease in non-interest
income from the prior year.
As of June 30, 2023, consolidated
total assets were $12.83 billion
compared to $13.26 billion at
June 30, 2022. Loans totaled
$6.78 billion at June 30, 2023, compared with loans of
$5.88 billion at June 30, 2022. During the second quarter of
2023, loans grew $201.37 million, or
12.28 percent annualized, when compared to March 31, 2023 balances. Deposits totaled
$10.81 billion at June 30, 2023, compared to $11.12 billion at June 30,
2022.
Shareholders' equity was $1.37
billion as of June 30, 2023,
compared to $1.37 billion and
$1.33 billion at March 31, 2023, and June
30, 2022, respectively, primarily as a result of changes in
Other Comprehensive Income ("OCI") due to interest rate changes
over the past year. The unrealized loss on the securities
portfolio, net of applicable tax, totaled $490.28 million at June
30, 2023, compared to unrealized losses of $458.25 million at March
31, 2023 and $400.51 million
at June 30, 2022.
About First Financial Bankshares, Inc.
Headquartered in Abilene,
Texas, First Financial Bankshares, Inc. is a financial
holding company that through its subsidiary, First Financial Bank,
N.A., operates multiple banking regions with 79 locations in
Texas, including Abilene, Acton, Albany, Aledo, Alvarado, Beaumont, Boyd, Bridgeport, Brock, Bryan,
Burleson, College Station, Cisco, Cleburne, Clyde, Conroe, Cut and Shoot, Decatur, Eastland, El
Campo, Fort Worth,
Fulshear, Glen Rose, Granbury, Grapevine, Hereford, Huntsville, Keller, Kingwood, Lumberton, Magnolia, Mauriceville, Merkel, Midlothian, Mineral
Wells, Montgomery,
Moran, New Waverly, Newton, Odessa, Orange, Palacios, 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 nine 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, please visit our website at https://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,"
"project," 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; economic impact of oil and gas prices and the
pandemic, 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 and Filings" on the Company's Website 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
|
|
|
2023
|
|
|
2022
|
|
ASSETS
|
|
June 30,
|
|
|
Mar. 31,
|
|
|
Dec. 31,
|
|
|
Sept. 30,
|
|
|
June 30,
|
|
Cash and due from
banks
|
$
|
255,018
|
|
$
|
224,875
|
|
$
|
293,286
|
|
$
|
227,298
|
|
$
|
242,665
|
|
Interest-bearing demand
deposits in banks
|
|
23,839
|
|
|
221,336
|
|
|
37,392
|
|
|
138,484
|
|
|
222,899
|
|
Investment
securities
|
|
5,066,262
|
|
|
5,298,557
|
|
|
5,474,359
|
|
|
5,745,443
|
|
|
6,215,036
|
|
Loans,
held-for-investment, excluding PPP Loans
|
6,777,429
|
|
|
6,576,060
|
|
|
6,441,699
|
|
|
6,255,286
|
|
|
5,876,281
|
|
PPP loans
|
|
141
|
|
|
155
|
|
|
169
|
|
|
202
|
|
|
2,301
|
|
Total loans,
held-for-investment
|
|
6,777,570
|
|
|
6,576,215
|
|
|
6,441,868
|
|
|
6,255,488
|
|
|
5,878,582
|
|
Allowance for credit
losses
|
|
(86,541)
|
|
|
(80,818)
|
|
|
(75,834)
|
|
|
(74,108)
|
|
|
(71,932)
|
|
Net loans,
held-for-investment
|
|
6,691,029
|
|
|
6,495,397
|
|
|
6,366,034
|
|
|
6,181,380
|
|
|
5,806,650
|
|
Loans,
held-for-sale
|
|
19,220
|
|
|
11,996
|
|
|
11,965
|
|
|
18,815
|
|
|
26,445
|
|
Premises and equipment,
net
|
|
152,876
|
|
|
153,718
|
|
|
152,973
|
|
|
152,646
|
|
|
149,280
|
|
Goodwill
|
|
313,481
|
|
|
313,481
|
|
|
313,481
|
|
|
313,481
|
|
|
313,481
|
|
Other intangible
assets
|
|
1,597
|
|
|
1,825
|
|
|
2,053
|
|
|
2,352
|
|
|
2,658
|
|
Other assets
|
|
302,115
|
|
|
286,801
|
|
|
322,523
|
|
|
330,445
|
|
|
281,098
|
|
Total
assets
|
$
|
12,825,437
|
|
$
|
13,007,986
|
|
$
|
12,974,066
|
|
$
|
13,110,344
|
|
$
|
13,260,212
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND SHAREHOLDERS'
EQUITY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest-bearing
deposits
|
$
|
3,578,483
|
|
$
|
3,890,991
|
|
$
|
4,061,788
|
|
$
|
4,200,792
|
|
$
|
4,104,034
|
|
Interest-bearing
deposits
|
|
7,229,077
|
|
|
7,045,427
|
|
|
6,943,719
|
|
|
6,941,326
|
|
|
7,018,949
|
|
Total
deposits
|
|
10,807,560
|
|
|
10,936,418
|
|
|
11,005,507
|
|
|
11,142,118
|
|
|
11,122,983
|
|
Borrowings
|
|
587,656
|
|
|
632,927
|
|
|
642,507
|
|
|
774,581
|
|
|
768,364
|
|
Other
liabilities
|
|
62,988
|
|
|
65,788
|
|
|
60,315
|
|
|
61,030
|
|
|
39,847
|
|
Shareholders'
equity
|
|
1,367,233
|
|
|
1,372,853
|
|
|
1,265,737
|
|
|
1,132,615
|
|
|
1,329,018
|
|
Total liabilities and
shareholders' equity
|
$
|
12,825,437
|
|
$
|
13,007,986
|
|
$
|
12,974,066
|
|
$
|
13,110,344
|
|
$
|
13,260,212
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended
|
|
|
2023
|
|
|
2022
|
|
INCOME STATEMENTS
|
|
June 30,
|
|
|
Mar. 31,
|
|
|
Dec. 31,
|
|
|
Sept. 30,
|
|
|
June 30,
|
|
Interest
income
|
$
|
129,005
|
|
$
|
121,508
|
|
$
|
121,137
|
|
$
|
112,728
|
|
$
|
101,981
|
|
Interest
expense
|
|
33,139
|
|
|
25,222
|
|
|
17,100
|
|
|
9,572
|
|
|
3,199
|
|
Net interest
income
|
|
95,866
|
|
|
96,286
|
|
|
104,037
|
|
|
103,156
|
|
|
98,782
|
|
Provision for credit
losses
|
|
5,573
|
|
|
2,781
|
|
|
4,075
|
|
|
3,221
|
|
|
5,350
|
|
Net interest income
after provision for credit losses
|
90,293
|
|
|
93,505
|
|
|
99,962
|
|
|
99,935
|
|
|
93,432
|
|
Noninterest
income
|
|
29,947
|
|
|
28,007
|
|
|
28,524
|
|
|
30,943
|
|
|
37,317
|
|
Noninterest
expense
|
|
57,613
|
|
|
57,256
|
|
|
57,778
|
|
|
59,442
|
|
|
58,333
|
|
Net income before
income taxes
|
|
62,627
|
|
|
64,256
|
|
|
70,708
|
|
|
71,436
|
|
|
72,416
|
|
Income tax
expense
|
|
11,754
|
|
|
11,688
|
|
|
12,040
|
|
|
12,095
|
|
|
11,922
|
|
Net income
|
$
|
50,873
|
|
$
|
52,568
|
|
$
|
58,668
|
|
$
|
59,341
|
|
$
|
60,494
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PER COMMON SHARE DATA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income -
basic
|
$
|
0.36
|
|
$
|
0.37
|
|
$
|
0.41
|
|
$
|
0.42
|
|
$
|
0.42
|
|
Net income -
diluted
|
|
0.36
|
|
|
0.37
|
|
|
0.41
|
|
|
0.41
|
|
|
0.42
|
|
Cash dividends
declared
|
|
0.18
|
|
|
0.17
|
|
|
0.17
|
|
|
0.17
|
|
|
0.17
|
|
Book value
|
|
9.58
|
|
|
9.62
|
|
|
8.87
|
|
|
7.94
|
|
|
9.32
|
|
Tangible book
value
|
|
7.37
|
|
|
7.41
|
|
|
6.66
|
|
|
5.73
|
|
|
7.10
|
|
Market value
|
|
28.49
|
|
|
31.90
|
|
|
34.40
|
|
|
41.83
|
|
|
39.27
|
|
Shares outstanding -
end of period
|
|
142,741,196
|
|
|
142,703,531
|
|
|
142,657,871
|
|
|
142,628,163
|
|
|
142,586,601
|
|
Average outstanding
shares - basic
|
|
142,700,805
|
|
|
142,665,646
|
|
|
142,619,632
|
|
|
142,524,500
|
|
|
142,682,251
|
|
Average outstanding
shares - diluted
|
|
143,087,555
|
|
|
143,066,011
|
|
|
143,071,538
|
|
|
143,126,088
|
|
|
143,238,669
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PERFORMANCE RATIOS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Return on average
assets
|
|
1.58
|
|
%
|
1.65
|
%
|
1.76
|
%
|
1.76
|
%
|
1.82
|
%
|
Return on average
equity
|
|
14.89
|
|
|
16.32
|
|
|
19.87
|
|
|
17.31
|
|
|
17.26
|
|
Return on average
tangible equity
|
|
19.33
|
|
|
21.51
|
|
|
27.20
|
|
|
22.55
|
|
|
22.27
|
|
Net interest margin
(tax equivalent)*
|
|
3.29
|
|
|
3.34
|
|
|
3.47
|
|
|
3.38
|
|
|
3.30
|
|
Efficiency
ratio*
|
|
44.74
|
|
|
44.93
|
|
|
42.39
|
|
|
43.10
|
|
|
41.61
|
|
*Calculations have been
adjusted to remove effect of TEFRA disallowance
|
|
Six Months Ended
|
|
June 30,
|
INCOME STATEMENTS
|
|
2023
|
|
|
2022
|
|
Interest
income
|
$
|
250,513
|
|
$
|
198,990
|
|
Interest
expense
|
|
58,361
|
|
|
4,769
|
|
Net interest
income
|
|
192,152
|
|
|
194,221
|
|
Provision for credit
losses
|
|
8,354
|
|
|
10,132
|
|
Net interest income
after provisions for credit losses
|
183,798
|
|
|
184,089
|
|
Noninterest
income
|
|
57,954
|
|
|
72,198
|
|
Noninterest
expense
|
|
114,869
|
|
|
117,558
|
|
Net income before
income taxes
|
|
126,883
|
|
|
138,729
|
|
Income tax
expense
|
|
23,442
|
|
|
22,263
|
|
Net income
|
$
|
103,441
|
|
$
|
116,466
|
|
|
|
|
|
|
|
|
PER COMMON SHARE DATA
|
|
|
|
|
|
|
Net income -
basic
|
$
|
0.72
|
|
$
|
0.82
|
|
Net income -
diluted
|
|
0.72
|
|
|
0.81
|
|
Cash dividends
declared
|
|
0.35
|
|
|
0.32
|
|
Book value
|
|
9.58
|
|
|
9.32
|
|
Tangible book
value
|
|
7.37
|
|
|
7.10
|
|
Market value
|
$
|
28.49
|
|
$
|
39.27
|
|
Shares outstanding -
end of period
|
|
142,741,196
|
|
|
142,586,601
|
|
Average outstanding
shares - basic
|
|
142,683,322
|
|
|
142,620,838
|
|
Average outstanding
shares - diluted
|
|
143,027,503
|
|
|
143,273,391
|
|
|
|
|
|
|
|
|
PERFORMANCE RATIOS
|
|
|
|
|
|
|
Return on average
assets
|
|
1.62
|
%
|
1.77
|
%
|
Return on average
equity
|
|
15.58
|
|
|
15.24
|
|
Return on average
tangible equity
|
|
20.38
|
|
|
19.18
|
|
Net interest margin
(tax equivalent)*
|
|
3.32
|
|
|
3.26
|
|
Efficiency
ratio*
|
|
44.84
|
|
|
42.86
|
|
*Calculations have been
adjusted to remove effect of TEFRA disallowance
|
FIRST FINANCIAL BANKSHARES,
INC.
|
SELECTED FINANCIAL DATA
(UNAUDITED)
|
(In thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended
|
|
|
2023
|
|
|
2022
|
|
ALLOWANCE FOR LOAN LOSSES
|
|
June 30,
|
|
|
Mar. 31,
|
|
|
Dec. 31,
|
|
|
Sept. 30,
|
|
|
June 30,
|
|
Balance at beginning of
period
|
$
|
80,818
|
|
$
|
75,834
|
|
$
|
74,108
|
|
$
|
71,932
|
|
$
|
66,913
|
|
Loans
charged-off
|
|
(1,118)
|
|
|
(288)
|
|
|
(1,225)
|
|
|
(293)
|
|
|
(275)
|
|
Loan
recoveries
|
|
319
|
|
|
565
|
|
|
320
|
|
|
1,409
|
|
|
1,191
|
|
Net recoveries
(charge-offs)
|
|
(799)
|
|
|
277
|
|
|
(905)
|
|
|
1,116
|
|
|
916
|
|
Provision for loan
losses
|
|
6,522
|
|
|
4,707
|
|
|
2,631
|
|
|
1,060
|
|
|
4,103
|
|
Balance at end of
period
|
$
|
86,541
|
|
$
|
80,818
|
|
$
|
75,834
|
|
$
|
74,108
|
|
$
|
71,932
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ALLOWANCE FOR UNFUNDED
COMMITMENTS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at beginning of
period
|
$
|
10,397
|
|
$
|
12,323
|
|
$
|
10,879
|
|
$
|
8,718
|
|
$
|
7,471
|
|
Provision for unfunded
commitments
|
|
(949)
|
|
|
(1,926)
|
|
|
1,444
|
|
|
2,161
|
|
|
1,247
|
|
Balance at end of
period
|
$
|
9,448
|
|
$
|
10,397
|
|
$
|
12,323
|
|
$
|
10,879
|
|
$
|
8,718
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for loan
losses /
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
period-end loans
held-for-investment
|
|
1.28
|
|
%
|
1.23
|
%
|
|
1.18
|
%
|
|
1.18
|
%
|
|
1.22
|
%
|
Allowance for loan
losses /
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
nonperforming
loans
|
|
296.13
|
|
|
334.06
|
|
|
311.75
|
|
|
301.02
|
|
|
281.90
|
|
Net charge-offs
(recoveries) / average total loans
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(annualized)
|
|
0.05
|
|
|
(0.02)
|
|
|
0.06
|
|
|
(0.07)
|
|
|
(0.06)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended
|
|
|
2023
|
|
|
2022
|
|
COMPOSITION OF LOANS
HELD-FOR-INVESTMENT
|
June 30,
|
|
|
Mar. 31,
|
|
|
Dec. 31,
|
|
|
Sept. 30,
|
|
|
June 30,
|
|
Commercial:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
C&I
|
$
|
1,021,722
|
|
$
|
954,531
|
|
$
|
917,148
|
|
$
|
871,133
|
|
$
|
837,627
|
|
PPP
|
|
141
|
|
|
155
|
|
|
169
|
|
|
202
|
|
|
2,301
|
|
Municipal
|
|
215,977
|
|
|
221,379
|
|
|
221,090
|
|
|
214,852
|
|
|
200,577
|
|
Total
Commercial
|
|
1,237,840
|
|
|
1,176,065
|
|
|
1,138,407
|
|
|
1,086,187
|
|
|
1,040,505
|
|
Agricultural
|
|
82,032
|
|
|
77,017
|
|
|
76,947
|
|
|
76,937
|
|
|
90,420
|
|
Real Estate:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction &
Development
|
|
915,221
|
|
|
921,190
|
|
|
959,426
|
|
|
938,051
|
|
|
928,644
|
|
Farm
|
|
335,644
|
|
|
307,706
|
|
|
306,322
|
|
|
268,139
|
|
|
250,028
|
|
Non-Owner Occupied
CRE
|
|
811,347
|
|
|
737,117
|
|
|
732,089
|
|
|
717,738
|
|
|
636,432
|
|
Owner Occupied
CRE
|
|
1,011,511
|
|
|
1,043,018
|
|
|
954,400
|
|
|
945,665
|
|
|
909,899
|
|
Residential
|
|
1,698,679
|
|
|
1,628,841
|
|
|
1,575,758
|
|
|
1,536,180
|
|
|
1,412,125
|
|
Total Real
Estate
|
|
4,772,402
|
|
|
4,637,872
|
|
|
4,527,995
|
|
|
4,405,773
|
|
|
4,137,128
|
|
Consumer:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Auto
|
|
534,603
|
|
|
537,410
|
|
|
550,635
|
|
|
538,798
|
|
|
468,147
|
|
Non-Auto
|
|
150,693
|
|
|
147,851
|
|
|
147,884
|
|
|
147,793
|
|
|
142,382
|
|
Total
Consumer
|
|
685,296
|
|
|
685,261
|
|
|
698,519
|
|
|
686,591
|
|
|
610,529
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total loans
held-for-investment
|
$
|
6,777,570
|
|
$
|
6,576,215
|
|
$
|
6,441,868
|
|
$
|
6,255,488
|
|
$
|
5,878,582
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SUMMARY OF LOAN CLASSIFICATION
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Special
Mention
|
$
|
66,960
|
|
$
|
65,141
|
|
$
|
49,382
|
|
$
|
43,149
|
|
$
|
46,512
|
|
Substandard
|
|
108,179
|
|
|
91,915
|
|
|
101,316
|
|
|
100,568
|
|
|
106,156
|
|
Doubtful
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
Total classified
loans
|
$
|
175,139
|
|
$
|
157,056
|
|
$
|
150,698
|
|
$
|
143,717
|
|
$
|
152,668
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NONPERFORMING ASSETS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nonaccrual
loans
|
$
|
28,672
|
|
$
|
24,171
|
|
$
|
24,325
|
|
$
|
24,604
|
|
$
|
25,495
|
|
Accruing loans 90 days
past due
|
|
552
|
|
|
22
|
|
|
-
|
|
|
15
|
|
|
22
|
|
Total nonperforming
loans
|
|
29,224
|
|
|
24,193
|
|
|
24,325
|
|
|
24,619
|
|
|
25,517
|
|
Foreclosed
assets
|
|
25
|
|
|
196
|
|
|
-
|
|
|
-
|
|
|
-
|
|
Total nonperforming
assets
|
$
|
29,249
|
|
$
|
24,389
|
|
$
|
24,325
|
|
$
|
24,619
|
|
$
|
25,517
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As a % of loans
held-for-investment and foreclosed assets
|
0.43
|
|
%
|
0.37
|
%
|
|
0.38
|
%
|
|
0.39
|
%
|
|
0.43
|
%
|
As a % of end of period
total assets
|
|
0.23
|
|
|
0.19
|
|
|
0.19
|
|
|
0.19
|
|
|
0.19
|
|
|
Quarter Ended
|
|
|
2023
|
|
|
2022
|
|
CAPITAL RATIOS
|
|
June 30,
|
|
|
Mar. 31,
|
|
|
Dec. 31,
|
|
|
Sept. 30,
|
|
|
June 30,
|
|
Common equity Tier 1
capital ratio
|
|
18.48
|
|
%
|
18.68
|
%
|
|
18.22
|
%
|
|
18.03
|
%
|
|
18.50
|
%
|
Tier 1 capital
ratio
|
|
18.48
|
|
|
18.68
|
|
|
18.22
|
|
|
18.03
|
|
|
18.50
|
|
Total capital
ratio
|
|
19.62
|
|
|
19.79
|
|
|
19.29
|
|
|
19.07
|
|
|
19.54
|
|
Tier 1 leverage
ratio
|
|
11.81
|
|
|
11.53
|
|
|
10.96
|
|
|
10.79
|
|
|
10.65
|
|
Tangible common equity
ratio
|
|
8.41
|
|
|
8.33
|
|
|
7.51
|
|
|
6.38
|
|
|
7.83
|
|
Equity/Assets
ratio
|
|
10.66
|
|
|
10.55
|
|
|
9.76
|
|
|
8.64
|
|
|
10.02
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended
|
|
|
2023
|
|
|
2022
|
|
NONINTEREST INCOME
|
|
June 30,
|
|
|
Mar. 31,
|
|
|
Dec. 31,
|
|
|
Sept. 30,
|
|
|
June 30,
|
|
Trust fees
|
$
|
9,883
|
|
$
|
9,845
|
|
$
|
10,122
|
|
$
|
10,314
|
|
$
|
9,742
|
|
Service charges on
deposits
|
|
6,310
|
|
|
6,036
|
|
|
6,397
|
|
|
6,399
|
|
|
6,038
|
|
Debit card
fees
|
|
6,720
|
|
|
4,936
|
|
|
5,899
|
|
|
5,587
|
|
|
9,868
|
|
Credit card
fees
|
|
711
|
|
|
609
|
|
|
632
|
|
|
651
|
|
|
700
|
|
Gain on sale and fees
on mortgage loans
|
|
3,534
|
|
|
2,974
|
|
|
2,904
|
|
|
4,070
|
|
|
5,728
|
|
Net gain on sale of
available-for-sale securities
|
46
|
|
|
12
|
|
|
131
|
|
|
334
|
|
|
1,648
|
|
Net gain (loss) on sale
of foreclosed assets
|
|
(1)
|
|
|
34
|
|
|
-
|
|
|
349
|
|
|
18
|
|
Net gain (loss) on sale
of assets
|
|
-
|
|
|
930
|
|
|
(2)
|
|
|
526
|
|
|
6
|
|
Interest on loan
recoveries
|
|
475
|
|
|
346
|
|
|
244
|
|
|
664
|
|
|
1,649
|
|
Other noninterest
income
|
|
2,269
|
|
|
2,285
|
|
|
2,197
|
|
|
2,049
|
|
|
1,920
|
|
Total noninterest
income
|
$
|
29,947
|
|
$
|
28,007
|
|
$
|
28,524
|
|
$
|
30,943
|
|
$
|
37,317
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NONINTEREST EXPENSE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Salaries, commissions
and employee benefits, excluding profit sharing
|
$
|
31,796
|
|
$
|
31,431
|
|
$
|
32,391
|
|
$
|
33,129
|
|
$
|
31,840
|
|
Profit sharing
expense
|
|
(30)
|
|
|
30
|
|
|
565
|
|
|
763
|
|
|
1,307
|
|
Net occupancy
expense
|
|
3,423
|
|
|
3,430
|
|
|
3,350
|
|
|
3,440
|
|
|
3,292
|
|
Equipment
expense
|
|
2,198
|
|
|
2,127
|
|
|
2,053
|
|
|
2,396
|
|
|
2,346
|
|
FDIC insurance
premiums
|
|
1,417
|
|
|
1,654
|
|
|
1,021
|
|
|
917
|
|
|
904
|
|
Debit card
expense
|
|
3,221
|
|
|
3,199
|
|
|
3,054
|
|
|
3,013
|
|
|
3,200
|
|
Legal, tax and
professional fees
|
|
2,847
|
|
|
2,687
|
|
|
2,814
|
|
|
2,604
|
|
|
2,513
|
|
Audit fees
|
|
563
|
|
|
540
|
|
|
451
|
|
|
451
|
|
|
450
|
|
Printing, stationery
and supplies
|
|
740
|
|
|
710
|
|
|
473
|
|
|
600
|
|
|
501
|
|
Amortization of
intangible assets
|
|
228
|
|
|
228
|
|
|
299
|
|
|
306
|
|
|
320
|
|
Advertising, meals and
public relations
|
|
1,789
|
|
|
1,475
|
|
|
1,646
|
|
|
1,692
|
|
|
1,554
|
|
Operational and other
losses
|
|
856
|
|
|
931
|
|
|
982
|
|
|
869
|
|
|
782
|
|
Software amortization
and expense
|
|
2,519
|
|
|
2,311
|
|
|
2,420
|
|
|
2,564
|
|
|
2,522
|
|
Other noninterest
expense
|
|
6,046
|
|
|
6,503
|
|
|
6,259
|
|
|
6,698
|
|
|
6,802
|
|
Total noninterest
expense
|
$
|
57,613
|
|
$
|
57,256
|
|
$
|
57,778
|
|
$
|
59,442
|
|
$
|
58,333
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TAX EQUIVALENT YIELD ADJUSTMENT
*
|
$
|
2,950
|
|
$
|
3,131
|
|
$
|
3,751
|
|
$
|
3,807
|
|
$
|
4,083
|
|
*Calculations have been
adjusted to remove effect of TEFRA disallowance
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended
|
|
June 30,
|
NONINTEREST INCOME
|
|
2023
|
|
|
2022
|
Trust fees
|
$
|
19,728
|
|
$
|
19,559
|
Service charges on
deposits
|
|
12,346
|
|
|
11,744
|
Debit card
fees
|
|
11,656
|
|
|
18,795
|
Credit card
fees
|
|
1,320
|
|
|
1,301
|
Gain on sale and fees
on mortgage loans
|
|
6,508
|
|
|
12,061
|
Net gain on sale of
available-for-sale securities
|
58
|
|
|
1,679
|
Net gain on sale of
foreclosed assets
|
|
33
|
|
|
1,102
|
Net gain (loss) on sale
of assets
|
|
930
|
|
|
(4)
|
Interest on loan
recoveries
|
|
821
|
|
|
1,932
|
Other noninterest
income
|
|
4,554
|
|
|
4,029
|
Total noninterest
income
|
$
|
57,954
|
|
$
|
72,198
|
|
|
|
|
|
|
NONINTEREST EXPENSE
|
|
|
|
|
|
Salaries, commissions
and employee benefits, excluding profit sharing
|
$
|
63,227
|
|
$
|
64,380
|
Profit sharing
expense
|
|
-
|
|
|
2,905
|
Net occupancy
expense
|
|
6,853
|
|
|
6,517
|
Equipment
expense
|
|
4,325
|
|
|
4,603
|
FDIC insurance
premiums
|
|
3,071
|
|
|
1,773
|
Debit card
expense
|
|
6,420
|
|
|
6,164
|
Legal, tax and
professional fees
|
|
5,534
|
|
|
5,470
|
Audit fees
|
|
1,103
|
|
|
901
|
Printing, stationery
and supplies
|
|
1,450
|
|
|
1,041
|
Amortization of
intangible assets
|
|
456
|
|
|
640
|
Advertising, meals and
public relations
|
|
3,264
|
|
|
3,047
|
Operational and other
losses
|
|
1,787
|
|
|
1,378
|
Software amortization
and expense
|
|
4,830
|
|
|
4,979
|
Other noninterest
expense
|
|
12,549
|
|
|
13,760
|
Total noninterest
expense
|
$
|
114,869
|
|
$
|
117,558
|
|
|
|
|
|
|
TAX EQUIVALENT YIELD ADJUSTMENT
*
|
$
|
6,080
|
|
$
|
7,866
|
*Calculations have been
adjusted to remove effect of TEFRA disallowance
|
FIRST FINANCIAL BANKSHARES,
INC.
|
SELECTED FINANCIAL DATA
(UNAUDITED)
|
(In thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
|
|
|
|
Three Months Ended
|
|
June 30, 2023
|
|
|
|
Mar. 31, 2023
|
|
|
Average
|
|
|
Tax Equivalent
|
|
|
Yield /
|
|
|
|
|
|
Average
|
|
|
Tax Equivalent
|
|
|
Yield /
|
|
|
|
Balance
|
|
|
Interest
|
|
|
Rate
|
|
|
|
|
|
Balance
|
|
|
Interest
|
|
|
Rate
|
|
Interest-earning
assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal funds
sold
|
$
|
2,242
|
|
$
|
30
|
|
|
5.45
|
%
|
|
|
$
|
2,507
|
|
$
|
32
|
|
|
5.12
|
%
|
Interest-bearing
demand deposits in nonaffiliated banks
|
119,168
|
|
|
1,553
|
|
|
5.23
|
|
|
|
|
|
143,542
|
|
|
1,618
|
|
|
4.57
|
|
Taxable
securities
|
|
3,589,381
|
|
|
20,032
|
|
|
2.23
|
|
|
|
|
|
3,672,257
|
|
|
20,782
|
|
|
2.26
|
|
Tax-exempt
securities
|
|
1,653,418
|
|
|
11,799
|
|
|
2.85
|
|
|
|
|
|
1,750,533
|
|
|
12,743
|
|
|
2.91
|
|
Loans
|
|
6,683,276
|
|
|
98,541
|
|
|
5.91
|
|
|
|
|
|
6,500,332
|
|
|
89,464
|
|
|
5.58
|
|
Total interest-earning
assets
|
|
12,047,485
|
|
$
|
131,955
|
|
|
4.39
|
%
|
|
|
|
12,069,171
|
|
$
|
124,639
|
|
|
4.19
|
%
|
Noninterest-earning
assets
|
|
842,284
|
|
|
|
|
|
|
|
|
|
|
|
863,342
|
|
|
|
|
|
|
|
Total
assets
|
$
|
12,889,769
|
|
|
|
|
|
|
|
|
|
|
$
|
12,932,513
|
|
|
|
|
|
|
|
Interest-bearing
liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deposits
|
$
|
7,037,677
|
|
$
|
27,629
|
|
|
1.57
|
%
|
|
|
$
|
7,080,518
|
|
$
|
21,812
|
|
|
1.25
|
%
|
Borrowings
|
|
715,071
|
|
|
5,510
|
|
|
3.09
|
|
|
|
|
|
625,137
|
|
|
3,410
|
|
|
2.21
|
|
Total interest-bearing
liabilities
|
|
7,752,748
|
|
$
|
33,139
|
|
|
1.71
|
%
|
|
|
|
7,705,655
|
|
$
|
25,222
|
|
|
1.33
|
%
|
Noninterest-bearing
deposits
|
|
3,704,143
|
|
|
|
|
|
|
|
|
|
|
|
3,860,472
|
|
|
|
|
|
|
|
Other
noninterest-bearing
liabilities
|
62,227
|
|
|
|
|
|
|
|
|
|
|
|
60,028
|
|
|
|
|
|
|
|
Shareholders'
equity
|
|
1,370,651
|
|
|
|
|
|
|
|
|
|
|
|
1,306,358
|
|
|
|
|
|
|
|
Total liabilities and
shareholders' equity
|
$
|
12,889,769
|
|
|
|
|
|
|
|
|
|
|
$
|
12,932,513
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest income and
margin (tax equivalent)
|
|
|
$
|
98,816
|
|
|
3.29
|
%
|
|
|
|
|
|
$
|
99,417
|
|
|
3.34
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
|
|
|
|
Three Months Ended
|
|
Dec. 31, 2022
|
|
|
|
Sept. 30, 2022
|
|
|
Average
|
|
|
Tax Equivalent
|
|
|
Yield /
|
|
|
|
|
|
Average
|
|
|
Tax Equivalent
|
|
|
Yield /
|
|
|
|
Balance
|
|
|
Interest
|
|
|
Rate
|
|
|
|
|
|
Balance
|
|
|
Interest
|
|
|
Rate
|
|
Interest-earning
assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal funds
sold
|
$
|
3,165
|
|
$
|
36
|
|
|
4.57
|
%
|
|
|
$
|
3,107
|
|
$
|
19
|
|
|
2.49
|
%
|
Interest-bearing
demand deposits in nonaffiliated banks
|
160,200
|
|
|
1,579
|
|
|
3.91
|
|
|
|
|
|
248,929
|
|
|
1,413
|
|
|
2.25
|
|
Taxable
securities
|
|
3,761,206
|
|
|
21,152
|
|
|
2.25
|
|
|
|
|
|
4,039,107
|
|
|
20,799
|
|
|
2.06
|
|
Tax-exempt
securities
|
|
2,001,185
|
|
|
15,740
|
|
|
3.15
|
|
|
|
|
|
2,164,829
|
|
|
16,423
|
|
|
3.03
|
|
Loans
|
|
6,391,703
|
|
|
86,381
|
|
|
5.36
|
|
|
|
|
|
6,082,649
|
|
|
77,880
|
|
|
5.08
|
|
Total interest-earning
assets
|
|
12,317,459
|
|
$
|
124,888
|
|
|
4.02
|
%
|
|
|
|
12,538,621
|
|
$
|
116,534
|
|
|
3.69
|
%
|
Noninterest-earning
assets
|
|
891,972
|
|
|
|
|
|
|
|
|
|
|
|
833,980
|
|
|
|
|
|
|
|
Total
assets
|
$
|
13,209,431
|
|
|
|
|
|
|
|
|
|
|
$
|
13,372,601
|
|
|
|
|
|
|
|
Interest-bearing
liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deposits
|
$
|
6,871,315
|
|
$
|
13,123
|
|
|
0.76
|
%
|
|
|
$
|
7,004,478
|
|
$
|
8,787
|
|
|
0.50
|
%
|
Borrowings
|
|
927,250
|
|
|
3,977
|
|
|
1.70
|
|
|
|
|
|
768,096
|
|
|
784
|
|
|
0.40
|
|
Total interest-bearing
liabilities
|
|
7,798,565
|
|
$
|
17,100
|
|
|
0.87
|
%
|
|
|
|
7,772,574
|
|
$
|
9,571
|
|
|
0.49
|
%
|
Noninterest-bearing
deposits
|
|
4,179,494
|
|
|
|
|
|
|
|
|
|
|
|
4,178,675
|
|
|
|
|
|
|
|
Other
noninterest-bearing
liabilities
|
60,085
|
|
|
|
|
|
|
|
|
|
|
|
61,320
|
|
|
|
|
|
|
|
Shareholders'
equity
|
|
1,171,287
|
|
|
|
|
|
|
|
|
|
|
|
1,360,032
|
|
|
|
|
|
|
|
Total liabilities and
shareholders' equity
|
$
|
13,209,431
|
|
|
|
|
|
|
|
|
|
|
$
|
13,372,601
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest income and
margin (tax equivalent)*
|
|
$
|
107,788
|
|
|
3.47
|
%
|
|
|
|
|
|
$
|
106,963
|
|
|
3.38
|
%
|
|
Three Months Ended
|
|
June 30, 2022
|
|
|
Average
|
|
|
Tax Equivalent
|
|
|
Yield /
|
|
|
|
Balance
|
|
|
Interest
|
|
|
Rate
|
|
Interest-earning
assets:
|
|
|
|
|
|
|
|
|
|
Federal funds
sold
|
$
|
1,466
|
|
$
|
5
|
|
|
1.45
|
%
|
Interest-bearing
demand deposits in nonaffiliated banks
|
288,784
|
|
|
547
|
|
|
0.76
|
|
Taxable
securities
|
|
4,101,751
|
|
|
19,151
|
|
|
1.87
|
|
Tax-exempt
securities
|
|
2,376,324
|
|
|
17,873
|
|
|
3.01
|
|
Loans
|
|
5,720,804
|
|
|
68,488
|
|
|
4.80
|
|
Total interest-earning
assets
|
|
12,489,129
|
|
$
|
106,064
|
|
|
3.41
|
%
|
Noninterest-earning
assets
|
|
825,711
|
|
|
|
|
|
|
|
Total
assets
|
$
|
13,314,840
|
|
|
|
|
|
|
|
Interest-bearing
liabilities:
|
|
|
|
|
|
|
|
|
|
Deposits
|
$
|
7,049,041
|
|
$
|
2,967
|
|
|
0.17
|
%
|
Borrowings
|
|
730,477
|
|
|
232
|
|
|
0.13
|
|
Total interest-bearing
liabilities
|
|
7,779,518
|
|
$
|
3,199
|
|
|
0.16
|
%
|
Noninterest-bearing
deposits
|
|
4,064,207
|
|
|
|
|
|
|
|
Other
noninterest-bearing
liabilities
|
65,475
|
|
|
|
|
|
|
|
Shareholders'
equity
|
|
1,405,640
|
|
|
|
|
|
|
|
Total liabilities and
shareholders' equity
|
$
|
13,314,840
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest income and
margin (tax equivalent)*
|
|
$
|
102,865
|
|
|
3.30
|
%
|
|
Six Months Ended
|
|
|
|
Six Months Ended
|
|
June 30, 2023
|
|
|
|
June 30, 2022
|
|
|
Average
|
|
|
Tax Equivalent
|
|
|
Yield /
|
|
|
|
|
|
Average
|
|
|
Tax Equivalent
|
|
|
Yield /
|
|
|
|
Balance
|
|
|
Interest
|
|
|
Rate
|
|
|
|
|
|
Balance
|
|
|
Interest
|
|
|
Rate
|
|
Interest-earning
assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal funds
sold
|
$
|
2,374
|
|
$
|
62
|
|
|
5.28
|
%
|
|
|
$
|
1,241
|
|
$
|
7
|
|
|
1.07
|
%
|
Interest-bearing
deposits in nonaffiliated banks
|
131,288
|
|
|
3,172
|
|
|
4.87
|
|
|
|
|
|
230,700
|
|
|
641
|
|
|
0.56
|
|
Taxable
securities
|
|
3,630,591
|
|
|
40,815
|
|
|
2.25
|
|
|
|
|
|
4,166,490
|
|
|
36,974
|
|
|
1.77
|
|
Tax exempt
securities
|
|
1,701,707
|
|
|
24,542
|
|
|
2.88
|
|
|
|
|
|
2,493,523
|
|
|
35,980
|
|
|
2.89
|
|
Loans
|
|
6,592,310
|
|
|
188,002
|
|
|
5.75
|
|
|
|
|
|
5,604,815
|
|
|
133,254
|
|
|
4.79
|
|
Total interest-earning
assets
|
|
12,058,270
|
|
$
|
256,593
|
|
|
4.29
|
%
|
|
|
|
12,496,769
|
|
$
|
206,856
|
|
|
3.34
|
%
|
Noninterest-earning
assets
|
|
852,753
|
|
|
|
|
|
|
|
|
|
|
|
785,486
|
|
|
|
|
|
|
|
Total
assets
|
$
|
12,911,023
|
|
|
|
|
|
|
|
|
|
|
$
|
13,282,255
|
|
|
|
|
|
|
|
Interest-bearing
liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deposits
|
$
|
7,058,979
|
|
$
|
49,441
|
|
|
1.41
|
%
|
|
|
$
|
6,973,967
|
|
$
|
4,336
|
|
|
0.13
|
%
|
Borrowings
|
|
670,352
|
|
|
8,920
|
|
|
2.68
|
|
|
|
|
|
755,755
|
|
|
433
|
|
|
0.12
|
|
Total interest-bearing
liabilities
|
|
7,729,331
|
|
$
|
58,361
|
|
|
1.52
|
%
|
|
|
|
7,729,722
|
|
$
|
4,769
|
|
|
0.12
|
%
|
Noninterest-bearing
deposits
|
|
3,781,876
|
|
|
|
|
|
|
|
|
|
|
|
3,946,483
|
|
|
|
|
|
|
|
Other
noninterest-bearing
liabilities
|
61,134
|
|
|
|
|
|
|
|
|
|
|
|
65,239
|
|
|
|
|
|
|
|
Shareholders'
equity
|
|
1,338,682
|
|
|
|
|
|
|
|
|
|
|
|
1,540,811
|
|
|
|
|
|
|
|
Total liabilities and
shareholders' equity
|
$
|
12,911,023
|
|
|
|
|
|
|
|
|
|
|
$
|
13,282,255
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest income and
margin (tax equivalent)*
|
|
$
|
198,232
|
|
|
3.32
|
%
|
|
|
|
|
|
$
|
202,087
|
|
|
3.26
|
%
|
*Calculations have been
adjusted to remove effect of TEFRA disallowance
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
View original
content:https://www.prnewswire.com/news-releases/first-financial-bankshares-announces-second-quarter-2023-earnings-301882539.html
SOURCE First Financial Bankshares, Inc.