FIRST FINANCIAL BANKSHARES ANNOUNCES FIRST QUARTER 2026 EARNINGS

By PR Newswire | April 16, 2026, 4:05 PM

ABILENE, Texas, April 16, 2026 /PRNewswire/ -- First Financial Bankshares, Inc. (the "Company," "we," "us" or "our") (NASDAQ: FFIN) today reported earnings for the first quarter of 2026 of $71.54 million compared to earnings of $73.31 million for the fourth quarter of 2025 and $61.35 million for the same quarter a year ago. Basic and diluted earnings per share were $0.50 for the quarter ended March 31, 2026 compared to $0.51 for the quarter ended December 31, 2025 and $0.43 for the quarter ended March 31, 2025.

"We are pleased to start 2026 with a strong increase in net income of 16.6 percent year over year, primarily due to our core balance sheet growth and decreased funding costs over the past year," said David Bailey, President and CEO. "While the current macro environment is uncertain with the ongoing Iran conflict, our Company remains financially strong, sound and secure as reflected in our strong capital levels, diversified core deposit base, and sound lending practices.  We appreciate our associates who work hard every day to build new customer relationships while providing exceptional service," added Mr. Bailey.

Net interest income for the first quarter of 2026 was $134.79 million compared to $131.37 million for the fourth quarter of 2025 and $118.79 million for the first quarter of 2025. The net interest margin, on a tax-equivalent basis, was 3.86 percent for the first quarter of 2026 compared to 3.81 percent for the fourth quarter of 2025 and 3.74 percent for the first quarter of 2025. Net interest income was affected by a $1.26 million reversal of interest expense, improving the core margin by about 3 basis points.  Average interest-earning assets were $14.54 billion for the first quarter of 2026 compared to $14.08 billion for the fourth quarter of 2025 and $13.16 billion for the same quarter a year ago.

The Company recorded a provision for credit losses of $2.29 million for the first quarter of 2026 compared to a provision reversal of $2.49 million for the fourth quarter of 2025 and a provision for credit losses of $3.53 million for the first quarter of 2025.

At March 31, 2026, the allowance for credit losses totaled $107.92 million, or 1.30 percent of loans held-for-investment ("loans" hereafter), compared to $105.54 million, or 1.29 percent of loans, at December 31, 2025 and $101.08 million, or 1.27 percent of loans, at March 31, 2025.

Net charge-offs totaled $356 thousand for the first quarter of 2026 compared to net charge-offs of $391 thousand for the fourth quarter of 2025 and $236 thousand for the first quarter of 2025. Nonperforming assets as a percentage of loans and foreclosed assets decreased to 0.66 percent at March 31, 2026, compared with 0.69 percent at December 31, 2025 and 0.78 percent at March 31, 2025.

Noninterest income for the first quarter of 2026 was $32.10 million compared to $30.23 million for the first quarter of 2025.

  • Trust fees increased to $13.36 million for the first quarter of 2026 compared to $12.65 million for the first quarter of 2025, driven by the increase in market value of trust assets managed to $11.91 billion at March 31, 2026, compared to $10.86 billion at March 31, 2025.
  • Service charges on deposits decreased to $6.08 million for the first quarter of 2026 compared with $6.18 million for the first quarter of 2025, driven by a decrease in overdraft fees.
  • Mortgage income increased to $4.28 million for the first quarter of 2026 compared to $2.83 million for the first quarter of 2025, due to increased volume in mortgage loans originated and better margins.

Noninterest expense for the first quarter of 2026 totaled $76.77 million compared to $70.34 million for the first quarter of 2025.

  • Salary, commissions, and employee benefit costs increased to $45.98 million for the first quarter of 2026, compared to $42.14 million in the first quarter of 2025, primarily resulting from additions to staff and merit-based and market driven pay increases to officers and employees over the past year. 
  • Noninterest expenses, excluding salary related costs, increased $2.59 million for the first quarter of 2026 compared to the same period in 2025, largely due to increases in software amortization, professional fees and operational and other losses.

The Company's efficiency ratio was 44.98 percent for the first quarter of 2026 compared to 46.36 percent for the first quarter of 2025. 

As of March 31, 2026, consolidated total assets were $15.39 billion compared to $15.45 billion at December 31, 2025, and $14.31 billion at March 31, 2025. Loans totaled $8.29 billion at March 31, 2026, compared with $8.16 billion at December 31, 2025 and $7.95 billion at March 31, 2025. Loans grew $126.84 million or 6.31 percent annualized from 2025 year end balances.  Deposits and Repurchase Agreements totaled $13.31 billion at March 31, 2026 compared to $13.41 billion at December 31, 2025 and $12.52 billion at March 31, 2025. Core deposits grew during the quarter but were offset by declines in public fund balances.

Shareholders' equity was $1.94 billion as of March 31, 2026, compared to $1.92 billion and $1.68 billion at December 31, 2025 and March 31, 2025, respectively. The unrealized loss on the securities portfolio, net of applicable tax, totaled $290.06 million at March 31, 2026, compared to an unrealized loss of $269.94 million and $388.89 million at December 31, 2025 and March 31, 2025, respectively, due to the changes in market interest rates during the respective periods.

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, 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, Franklin, 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, Spring, Stephenville, Sweetwater, Tomball, Trent, Trophy Club, Vidor, Waxahachie, Weatherford, Willis, and Willow Park. The Company also operates First Financial Trust & Asset Management Company, 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, 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



















2026





2025















ASSETS



 Mar. 31 





Dec. 31,





Sept. 30,





 June 30, 





 Mar. 31, 















Cash and due from banks

$

264,850



$

249,466



$

237,466



$

264,000



$

232,943















Interest-bearing demand deposits in banks



458,203





826,947





401,580





435,612





682,362















Federal funds sold



14,075





1,575





11,750





8,750





11,750















Investment securities



5,668,792





5,514,113





5,260,813





4,886,548





4,760,431















Loans, held-for-investment



8,285,120





8,158,276





8,243,625





8,074,944





7,945,611















Allowance for credit losses



(107,918)





(105,536)





(105,958)





(102,792)





(101,080)















Net loans, held-for-investment 



8,177,202





8,052,740





8,137,667





7,972,152





7,844,531















Loans, held-for-sale



22,984





29,992





26,015





33,233





14,348















Premises and equipment, net



150,989





149,985





149,651





148,999





150,589















Goodwill



313,481





313,481





313,481





313,481





313,481















Other intangible assets



128





171





257





343





428















Other assets



316,941





308,006





302,848





313,723





301,251















Total assets

$

15,387,645



$

15,446,476



$

14,841,528



$

14,376,841



$

14,312,114



























































LIABILITIES AND SHAREHOLDERS'  EQUITY











































Noninterest-bearing deposits

$

3,385,878



$

3,401,057



$

3,446,262



$

3,439,059



$

3,356,553















Interest-bearing deposits



9,859,359





9,944,472





9,399,986





9,009,357





9,110,218















Total deposits



13,245,237





13,345,529





12,846,248





12,448,416





12,466,771















Repurchase agreements



67,946





62,956





50,646





48,026





56,606















Borrowings



22,306





21,680





21,956





22,153





26,978















Trade date payable



-





-





-





24,965





-















Other liabilities



108,305





98,994





92,410





95,929





81,498















Shareholders' equity



1,943,851





1,917,317





1,830,268





1,737,352





1,680,261















Total liabilities and shareholders' equity

$

15,387,645



$

15,446,476



$

14,841,528



$

14,376,841



$

14,312,114





























































Quarter Ended



















2026





2025















INCOME STATEMENTS



Mar. 31





Dec. 31,





Sept. 30,





 June 30, 





 Mar. 31, 















Interest income

$

182,945



$

182,869



$

179,692



$

172,810



$

167,110















Interest expense



48,154





51,501





52,691





49,080





48,321















Net interest income



134,791





131,368





127,001





123,730





118,789















Provision for credit losses



2,291





(2,486)





24,435





3,132





3,528















Net interest income after provision for credit losses



132,500





133,854





102,566





120,598





115,261















Noninterest income



32,096





33,349





34,264





32,873





30,230















Noninterest expense



76,768





77,650





73,666





71,735





70,335















Net income before income taxes



87,828





89,553





63,164





81,736





75,156















Income tax expense



16,285





16,239





10,897





15,078





13,810















Net income

$

71,543



$

73,314



$

52,267



$

66,658



$

61,346



























































PER COMMON SHARE DATA 











































Net income - basic

$

0.50



$

0.51



$

0.37



$

0.47



$

0.43















Net income - diluted



0.50





0.51





0.36





0.47





0.43















Cash dividends declared



0.19





0.19





0.19





0.19





0.18















Book value



13.57





13.39





12.78





12.14





11.75















Tangible book value



11.38





11.20





10.59





9.95





9.55















Market value



29.45





29.87





33.65





35.98





35.92















Shares outstanding - end of period



143,279,030





143,213,102





143,188,051





143,077,619





143,019,433















Average outstanding shares - basic



143,210,755





143,180,215





143,105,224





143,023,544





142,949,514















Average outstanding shares - diluted



143,608,079





143,542,801





143,474,169





143,378,505





143,355,148



























































PERFORMANCE RATIOS











































Return on average assets



1.89

%



1.94

%



1.44

%



1.89

%



1.78

%











Return on average equity



14.83





15.62





11.85





15.82





15.12















Return on average tangible equity



17.66





18.78





14.44





19.43





18.68















Net interest margin (tax equivalent)



3.86





3.81





3.80





3.81





3.74















Efficiency ratio



44.98





46.10





44.74





44.97





46.36



























































FIRST FINANCIAL BANKSHARES, INC.













SELECTED FINANCIAL DATA (UNAUDITED)













(In thousands)



























































Quarter Ended



















2026





2025















ALLOWANCE FOR LOAN LOSSES



 Mar. 31, 





Dec. 31,





Sept. 30,





June 30,





 Mar. 31, 















Balance at beginning of period

$

105,536



$

105,958



$

102,792



$

101,080



$

98,325















Loans charged-off



(1,174)





(3,387)





(22,612)





(1,189)





(946)















Loan recoveries



818





2,996





272





469





710















Net recoveries (charge-offs)



(356)





(391)





(22,340)





(720)





(236)















Provision for loan losses



2,738





(31)





25,506





2,432





2,991















Balance at end of period

$

107,918



$

105,536



$

105,958



$

102,792



$

101,080



























































ALLOWANCE FOR UNFUNDED COMMITMENTS











































Balance at beginning of period

$

6,387



$

8,842



$

9,914



$

9,214



$

8,677















Provision for unfunded commitments



(447)





(2,455)





(1,072)





700





537















Balance at end of period

$

5,940



$

6,387



$

8,842



$

9,914



$

9,214



























































Allowance for loan losses /











































period-end loans held-for-investment



1.30

%



1.29

%



1.29

%



1.27

%



1.27

%













Allowance for loan losses /











































nonperforming loans



206.16





188.41





187.39





162.60





164.16















Net charge-offs (recoveries) / average total loans











































(annualized)



0.02





0.02





1.07





0.04





0.01





























































As of 



















2026





2025















COMPOSITION OF LOANS HELD-FOR-INVESTMENT



 Mar. 31, 





Dec. 31,





Sept. 30,





June 30,





 Mar. 31, 















Commercial:











































C&I

$

1,149,931



$

1,116,461



$

1,174,770



$

1,202,151



$

1,144,429















Municipal



384,473





342,501





347,559





306,140





338,303















Total Commercial



1,534,404





1,458,962





1,522,329





1,508,291





1,482,732















Agricultural



77,583





95,776





88,820





86,133





90,186















Real Estate:











































Construction & Development



1,169,037





1,157,865





1,214,649





1,172,834





1,098,069















Farm



329,151





327,625





322,710





302,969





331,464















Non-Owner Occupied CRE



825,771





832,816





802,675





746,341





753,898















Owner Occupied CRE



1,132,114





1,120,608





1,119,425





1,124,610





1,142,618















Residential



2,322,097





2,285,830





2,308,708





2,286,220





2,217,740















Total Real Estate



5,778,170





5,724,744





5,768,167





5,632,974





5,543,789















Consumer:











































Auto



751,283





732,351





718,501





698,897





679,189















Non-Auto



143,680





146,443





145,808





148,649





149,715















Total Consumer



894,963





878,794





864,309





847,546





828,904



























































Total loans held-for-investment

$

8,285,120



$

8,158,276



$

8,243,625



$

8,074,944



$

7,945,611



























































SUMMARY OF LOAN CLASSIFICATION











































Special Mention

$

66,864



$

66,058



$

76,647



$

62,774



$

46,103















Substandard



222,895





189,548





176,311





194,291





199,509















Total classified loans

$

289,759



$

255,606



$

252,958



$

257,065



$

245,612



























































NONPERFORMING ASSETS











































Nonaccrual loans

$

52,129



$

55,121



$

56,394



$

63,142



$

60,430















Accruing loans 90 days past due



218





892





151





77





1,143















Total nonperforming loans



52,347





56,013





56,545





63,219





61,573















Foreclosed assets



1,962





479





1,997





489





115















Total nonperforming assets

$

54,309



$

56,492



$

58,542



$

63,708



$

61,688



























































As a % of loans held-for-investment and foreclosed assets



0.66

%



0.69

%



0.71

%



0.79

%



0.78

%













As a % of end of period total assets



0.35





0.37





0.39





0.44





0.43





























































Quarter Ended



















2026





2025















CAPITAL RATIOS



 Mar. 31, 





Dec. 31,





Sept. 30,





June 30,





 Mar. 31, 















Common equity Tier 1 capital ratio



20.23

%



19.99

%



19.10

%



19.16

%



19.12

%











Tier 1 capital ratio



20.23





19.99





19.10





19.16





19.12















Total capital ratio



21.42





21.17





20.29





20.35





20.31















Tier 1 leverage ratio



12.58





12.55





12.34





12.61





12.46















Tangible common equity ratio



10.81





10.60





10.44





10.12





9.76















Equity/Assets ratio



12.63





12.41





12.33





12.08





11.74





























































Quarter Ended



















2026





2025















NONINTEREST INCOME



 Mar. 31, 





Dec. 31,





Sept. 30,





June 30,





 Mar. 31, 















Trust fees

$

13,363



$

13,512



$

12,950



$

12,746



$

12,653















Service charges on deposits



6,077





6,140





6,447





6,126





6,177















Debit card fees



5,245





5,791





5,333





5,218





4,967















Credit card fees



651





678





699





707





577















Gain on sale and fees on mortgage loans



4,277





4,216





4,375





4,126





2,832















Net gain (loss) on sale of foreclosed assets



(56)





(12)





(122)





200





(35)















Net gain on sale of assets



-





-





-





6





-















Loan recoveries



290





546





1,664





810





574















Other noninterest income



2,249





2,478





2,918





2,934





2,485















Total noninterest income

$

32,096



$

33,349



$

34,264



$

32,873



$

30,230



























































NONINTEREST EXPENSE











































Salaries, commissions and employee benefits, excluding profit sharing

$

42,959



$

42,409



$

40,681



$

39,834



$

39,157















Profit sharing expense



3,023





4,819





1,924





2,741





2,985















Net occupancy expense



3,630





3,458





3,545





3,600





3,720















Equipment expense



2,158





2,128





2,395





2,478





2,321















FDIC insurance premiums



1,560





1,695





1,635





1,585





1,575















Debit card expense



3,108





3,265





3,512





3,308





3,373















Legal, tax and professional fees



3,834





3,079





3,332





3,143





3,067















Audit fees



455





531





536





463





451















Printing, stationery and supplies



623





528





456





473





482















Amortization of intangible assets



43





86





86





86





95















Advertising, meals and public relations



1,701





1,923





1,714





1,653





1,677















Operational and other losses



1,000





1,583





1,957





720





540















Software amortization and expense



4,594





4,456





4,280





4,020





3,732















Other noninterest expense



8,080





7,690





7,613





7,631





7,160















Total noninterest expense

$

76,768



$

77,650



$

73,666



$

71,735



$

70,335



























































TAX EQUIVALENT YIELD ADJUSTMENT 

$

3,791



$

3,709



$

3,406



$

2,926



$

2,700



























































FIRST FINANCIAL BANKSHARES, INC.

SELECTED FINANCIAL DATA (UNAUDITED)

(In thousands)















































Three Months Ended







Three Months Ended



Mar. 31, 2026







Dec. 31, 2025





Average





Tax Equivalent





Yield /











Average





Tax Equivalent





Yield /







Balance





Interest





Rate











Balance





Interest





Rate



Interest-earning assets:











































Federal funds sold

$

4,565



$

40





3.55

%







$

6,565



$

62





3.75

%

Interest-bearing demand deposits in nonaffiliated banks



461,579





4,209





3.70











434,445





4,284





3.91



Taxable securities



4,076,690





32,283





3.17











3,683,108





29,231





3.17



Tax-exempt securities



1,726,765





14,184





3.29











1,712,261





14,144





3.30



Loans



8,273,995





136,020





6.67











8,241,265





138,857





6.68



Total interest-earning assets



14,543,594



$

186,736





5.21

%









14,077,644



$

186,578





5.26

%

Noninterest-earning assets



821,635























893,739















Total assets

$

15,365,229





















$

14,971,383















Interest-bearing liabilities:











































Deposits

$

9,824,362



$

47,851





1.98

%







$

9,476,716



$

51,207





2.14

%

Repurchase Agreements



62,849





229





1.48











56,573





219





1.54



Borrowings



22,155





74





1.35











22,113





75





1.35



Total interest-bearing liabilities



9,909,366



$

48,154





1.97

%









9,555,402



$

51,501





2.14

%

Noninterest-bearing deposits



3,401,092























3,454,171















Other noninterest-bearing liabilities

97,986























99,623















Shareholders' equity



1,956,785























1,862,187















Total liabilities and shareholders' equity

$

15,365,229





















$

14,971,383



























































Net interest income and margin (tax equivalent)







$

138,582





3.86

%













$

135,077





3.81

%















































Three Months Ended







Three Months Ended



Sept. 30, 2025







June 30, 2025





Average





Tax Equivalent





Yield /











Average





Tax Equivalent





Yield /







Balance





Interest





Rate











Balance





Interest





Rate



Interest-earning assets:











































Federal funds sold

$

10,711



$

130





4.82

%







$

9,397



$

113





4.84

%

Interest-bearing demand deposits in nonaffiliated banks



216,739





2,387





4.37











379,364





4,191





4.43



Taxable securities



3,560,347





26,539





2.98











3,470,028





25,242





2.91



Tax-exempt securities



1,564,767





12,906





3.30











1,433,498





10,811





3.02



Loans



8,249,113





141,136





6.79











8,045,340





135,378





6.75



Total interest-earning assets



13,601,677



$

183,098





5.34

%









13,337,627



$

175,735





5.28

%

Noninterest-earning assets



826,660























826,635















Total assets

$

14,428,337





















$

14,164,262















Interest-bearing liabilities:











































Deposits

$

9,051,463



$

52,010





2.28

%







$

8,923,737



$

48,730





2.19

%

Repurchase Agreements



50,051





210





1.66











54,482





221





1.63



Borrowings



56,198





471





3.33











26,557





128





1.93



Total interest-bearing liabilities



9,157,712



$

52,691





2.28

%









9,004,776



$

49,079





2.19

%

Noninterest-bearing deposits



3,419,378























3,383,851















Other noninterest-bearing liabilities

101,268























85,745















Shareholders' equity



1,749,979























1,689,890















Total liabilities and shareholders' equity

$

14,428,337





















$

14,164,262



























































Net interest income and margin (tax equivalent)







$

130,407





3.80

%













$

126,656





3.81

%















































Three Months Ended



























Mar. 31, 2025































Average





Tax Equivalent





Yield /































Balance





Interest





Rate



























Interest-earning assets:











































Federal funds sold

$

7,596



$

90





4.81

%

























Interest-bearing demand deposits in nonaffiliated banks



286,040





3,174





4.50



























Taxable securities



3,506,035





25,034





2.86



























Tax-exempt securities



1,407,440





9,912





2.82



























Loans



7,952,946





131,600





6.71



























Total interest-earning assets



13,160,057



$

169,810





5.23

%

























Noninterest-earning assets



830,055







































Total assets

$

13,990,112







































Interest-bearing liabilities:











































Deposits

$

8,882,040



$

47,549





2.17

%

























Repurchase Agreements



53,920





209





1.57



























Borrowings



74,561





563





3.06



























Total interest-bearing liabilities



9,010,521



$

48,321





2.17

%

























Noninterest-bearing deposits



3,265,838







































Other noninterest-bearing liabilities

68,218







































Shareholders' equity



1,645,535







































Total liabilities and shareholders' equity

$

13,990,112



















































































Net interest income and margin (tax equivalent)







$

121,489





3.74

%

























 

Cision
View original content:https://www.prnewswire.com/news-releases/first-financial-bankshares-announces-first-quarter-2026-earnings-302745203.html

SOURCE First Financial Bankshares, Inc.

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