FIRST FINANCIAL BANKSHARES ANNOUNCES THIRD QUARTER 2026 EARNINGS
ABILENE, Texas, Oct. 15, 2026 /PRNewswire/ -- First Financial Bankshares, Inc. (the "Company," "we," "us" or "our") (NASDAQ: FFIN) today reported earnings of $74.31 million for the third quarter of 2026 compared to earnings of $52.27 million for the same quarter a year ago and $71.89 million for the quarter ended June 30, 2026. Diluted earnings per share were $0.52 for the third quarter of 2026 compared with $0.36 for the third quarter of 2025 and $0.50 for the linked quarter.
"We are pleased to report another record quarter of net income, largely driven by continued expansion of our net interest margin," said David Bailey, President and CEO. "As we enter the final quarter of the year, we remain focused on disciplined balance sheet growth and prudent risk management. We are also excited to open our new Bee Cave location later this month, establishing our first full-service branch in the Austin market and an important step in our continued expansion across Texas. We appreciate our dedicated team of First Financial bankers whose commitment to our customers and shareholders drives our success every day."
Net interest income for the third quarter of 2026 was $138.51 million compared to $127.00 million for the third quarter of 2025 and $136.91 million for the linked quarter. The net interest margin, on a tax-equivalent basis, was 3.91 percent for the third quarter of 2026 compared to 3.80 percent for the third quarter of 2025 and 3.90 percent for the linked quarter. Average interest-earning assets were $14.43 billion for the third quarter of 2026 compared to $13.60 billion for the same quarter a year ago and $14.46 billion for the linked quarter.
The Company recorded a provision for credit losses of $2.03 million for the third quarter of 2026 compared to a provision for credit losses of $24.44 million for the third quarter of 2025 and $4.18 million for the linked quarter. The third quarter of 2025 provision was driven by a large loan charged off due to borrower fraud. At September 30, 2026, the allowance for credit losses totaled $113.89 million, or 1.33 percent of loans held-for-investment ("loans" hereafter), compared to $105.96 million, or 1.29 percent of loans, at September 30, 2025, and $112.43 million, or 1.35 percent of loans, at June 30, 2026. Additionally, the reserve for unfunded commitments totaled $5.85 million at September 30, 2026 compared to $8.84 million at September 30, 2025 and $6.21 million at June 30, 2026.
For the third quarter of 2026, the Company recorded net charge offs of $935 thousand compared to net charge-offs of $22.34 million for the third quarter of 2025 and net recoveries of $600 thousand for the linked quarter. Nonperforming assets as a percentage of loans and foreclosed assets totaled 0.71 percent at September 30, 2026, compared to 0.71 percent at September 30, 2025 and 0.80 percent at June 30, 2026. Classified loans totaled $294.49 million at September 30, 2026, compared to $252.96 million at September 30, 2025 and $283.10 million at June 30, 2026.
Noninterest income for the third quarter of 2026 was $35.64 million compared to $34.26 million for the third quarter of 2025 and $35.84 million for the linked quarter.
- Wealth Management fee income increased to $14.49 million for the third quarter of 2026 compared to $12.95 million for the third quarter of 2025 and $13.96 million for the linked quarter. Increases are related to new account growth and increased mineral fee income due to oil and gas prices. The market value of assets under management totaled $12.35 billion at September 30, 2026, compared to $12.05 billion at September 30, 2025 and $12.23 billion at June 30, 2026.
- Service charges on deposits increased to $6.69 million for the third quarter of 2026 compared with $6.45 million for the third quarter of 2025 and $6.26 million for the linked quarter. Changes are primarily due to increases in net new accounts.
- Mortgage income decreased to $4.18 million for the third quarter of 2026 compared to $4.38 million for the third quarter of 2025 and $4.68 million for the linked quarter. Mortgage volume and margins were impacted by the spike in long term rates during the third quarter of 2026.
Noninterest expense for the third quarter of 2026 totaled $81.05 million compared to $73.67 million for the third quarter of 2025 and $81.11 million for the linked quarter.
- Salary, commissions, and employee benefit costs (excluding the supplemental executive retirement plan "SERP" market adjustment) were $47.79 million for the third quarter of 2026, compared to $42.32 million in the third quarter of 2025 and $48.26 million for the linked quarter. The increase over the same period in 2025 is primarily due to annual merit-based and market-driven pay increases that were effective March 1st in the current year.
- Noninterest expenses, excluding all salary-related costs, increased $2.18 million for the third quarter of 2026 compared to the same period in 2025 and $1.80 million compared to the linked quarter. Increases from the prior year are due to increases in legal and professional fees, software amortization and expense and advertising and public relations costs offset by decreases in operational and other losses and debit card expenses. Increases from the linked quarter are due to increased operational and other losses and legal and professional fees.
The Company's efficiency ratio was 45.59 percent for the third quarter of 2026 compared to 44.74 percent for the third quarter of 2025 and 45.94 percent for the linked quarter.
As of September 30, 2026, consolidated total assets were $15.16 billion compared to $14.84 billion at September 30, 2025 and $15.31 billion at June 30, 2026. Loans totaled $8.54 billion at September 30, 2026, compared with loans of $8.24 billion at September 30, 2025 and $8.35 billion at June 30, 2026. During the third quarter of 2026, loans grew $191.86 million, or 9.12 percent annualized, when compared to June 30, 2026 balances. Loans have grown $380.51 million, or 6.24 percent annualized, year-to-date. Deposits and repurchase agreements totaled $13.19 billion at September 30, 2026, compared to $12.90 billion at September 30, 2025 and $13.17 billion at June 30, 2026. During the third quarter of 2026, noninterest-bearing deposits grew $67.07 million, or 7.65 percent annualized, when compared to June 30, 2026 balances. Noninterest-bearing deposits have grown $144.77 million, or 5.69 percent annualized, year-to-date.
Shareholders' equity was $1.83 billion as of September 30, 2026, compared to $1.83 billion and $2.00 billion at September 30, 2025 and June 30, 2026, respectively. Shareholders' equity was down compared to the linked quarter primarily due to the increase in the unrealized loss on the securities portfolio of $209.89 million, net of tax. The unrealized loss on the securities portfolio, net of applicable tax, totaled $489.55 million at September 30, 2026, compared to unrealized losses of $308.58 million at September 30, 2025 and $279.67 million at June 30, 2026, due to changes in long term 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 81 locations in Texas, including Abilene, Acton, Albany, Aledo, Alvarado, Austin/Bee Cave, 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 Wealth Management, 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 | Sept. 30, | June 30, | Mar. 31, | Dec. 31, | Sept. 30, | |||||||||||
Cash and due from banks | $ | 178,819 | $ | 284,759 | $ | 264,850 | $ | 249,466 | $ | 237,466 | ||||||
Interest-bearing demand deposits in banks | 292,778 | 286,973 | 458,203 | 826,947 | 401,580 | |||||||||||
Federal funds sold | 2,875 | 8,650 | 14,075 | 1,575 | 11,750 | |||||||||||
Investment securities | 5,388,083 | 5,675,957 | 5,668,792 | 5,514,113 | 5,260,813 | |||||||||||
Loans, held-for-investment | 8,538,788 | 8,346,931 | 8,285,120 | 8,158,276 | 8,243,625 | |||||||||||
Allowance for credit losses | (113,892) | (112,433) | (107,918) | (105,536) | (105,958) | |||||||||||
Net loans, held-for-investment | 8,424,896 | 8,234,498 | 8,177,202 | 8,052,740 | 8,137,667 | |||||||||||
Loans, held-for-sale | 25,521 | 23,616 | 22,984 | 29,992 | 26,015 | |||||||||||
Premises and equipment, net | 158,822 | 155,560 | 150,989 | 149,985 | 149,651 | |||||||||||
Goodwill | 313,481 | 313,481 | 313,481 | 313,481 | 313,481 | |||||||||||
Other intangible assets | 43 | 86 | 128 | 171 | 257 | |||||||||||
Other assets | 377,549 | 322,857 | 316,941 | 308,006 | 302,848 | |||||||||||
Total assets | $ | 15,162,867 | $ | 15,306,437 | $ | 15,387,645 | $ | 15,446,476 | $ | 14,841,528 | ||||||
LIABILITIES AND SHAREHOLDERS' EQUITY | ||||||||||||||||
Noninterest-bearing deposits | $ | 3,545,829 | $ | 3,478,755 | $ | 3,385,878 | $ | 3,401,057 | $ | 3,446,262 | ||||||
Interest-bearing deposits | 9,602,314 | 9,641,228 | 9,859,359 | 9,944,472 | 9,399,986 | |||||||||||
Total deposits | 13,148,143 | 13,119,983 | 13,245,237 | 13,345,529 | 12,846,248 | |||||||||||
Repurchase agreements | 43,088 | 53,656 | 67,946 | 62,956 | 50,646 | |||||||||||
Borrowings | 21,854 | 21,829 | 22,306 | 21,680 | 21,956 | |||||||||||
Other liabilities | 117,222 | 114,082 | 108,305 | 98,994 | 92,410 | |||||||||||
Shareholders' equity | 1,832,560 | 1,996,887 | 1,943,851 | 1,917,317 | 1,830,268 | |||||||||||
Total liabilities and shareholders' equity | $ | 15,162,867 | $ | 15,306,437 | $ | 15,387,645 | $ | 15,446,476 | $ | 14,841,528 | ||||||
Quarter Ended | ||||||||||||||||
2026 | 2025 | |||||||||||||||
INCOME STATEMENTS | Sept. 30, | June 30, | Mar. 31, | Dec. 31, | Sept. 30, | |||||||||||
Interest income | $ | 189,045 | $ | 185,960 | $ | 182,945 | $ | 182,869 | $ | 179,692 | ||||||
Interest expense | 50,538 | 49,046 | 48,154 | 51,501 | 52,691 | |||||||||||
Net interest income | 138,507 | 136,914 | 134,791 | 131,368 | 127,001 | |||||||||||
Provision for credit losses | 2,034 | 4,183 | 2,291 | (2,486) | 24,435 | |||||||||||
Net interest income after provision for credit losses | 136,473 | 132,731 | 132,500 | 133,854 | 102,566 | |||||||||||
Noninterest income | 35,635 | 35,844 | 32,096 | 33,349 | 34,264 | |||||||||||
Noninterest expense | 81,052 | 81,106 | 76,768 | 77,650 | 73,666 | |||||||||||
Net income before income taxes | 91,056 | 87,469 | 87,828 | 89,553 | 63,164 | |||||||||||
Income tax expense | 16,748 | 15,575 | 16,285 | 16,239 | 10,897 | |||||||||||
Net income | $ | 74,308 | $ | 71,894 | $ | 71,543 | $ | 73,314 | $ | 52,267 | ||||||
PER COMMON SHARE DATA | ||||||||||||||||
Net income - basic | $ | 0.52 | $ | 0.50 | $ | 0.50 | $ | 0.51 | $ | 0.37 | ||||||
Net income - diluted | 0.52 | 0.50 | 0.50 | 0.51 | 0.36 | |||||||||||
Cash dividends declared | 0.22 | 0.22 | 0.19 | 0.19 | 0.19 | |||||||||||
Book value | 12.78 | 13.93 | 13.57 | 13.39 | 12.78 | |||||||||||
Tangible book value | 10.59 | 11.75 | 11.38 | 11.20 | 10.59 | |||||||||||
Market value | 31.74 | 34.60 | 29.45 | 29.87 | 33.65 | |||||||||||
Shares outstanding - end of period | 143,397,258 | 143,319,824 | 143,279,030 | 143,213,102 | 143,188,051 | |||||||||||
Average outstanding shares - basic | 143,336,014 | 143,280,452 | 143,210,755 | 143,180,215 | 143,105,224 | |||||||||||
Average outstanding shares - diluted | 143,726,667 | 143,698,421 | 143,608,079 | 143,542,801 | 143,474,169 | |||||||||||
PERFORMANCE RATIOS | ||||||||||||||||
Return on average assets | 1.93 | % | 1.89 | % | 1.89 | % | 1.94 | % | 1.44 | % | ||||||
Return on average equity | 15.02 | 14.70 | 14.83 | 15.62 | 11.85 | |||||||||||
Return on average tangible equity | 17.87 | 17.49 | 17.66 | 18.78 | 14.44 | |||||||||||
Net interest margin (tax equivalent) | 3.91 | 3.90 | 3.86 | 3.81 | 3.80 | |||||||||||
Efficiency ratio | 45.59 | 45.94 | 44.98 | 46.10 | 44.74 | |||||||||||
Nine Months Ended | ||||||||||||||||
Sept. 30, | ||||||||||||||||
INCOME STATEMENTS | 2026 | 2025 | ||||||||||||||
Interest income | $ | 557,950 | $ | 519,612 | ||||||||||||
Interest expense | 147,738 | 150,092 | ||||||||||||||
Net interest income | 410,212 | 369,520 | ||||||||||||||
Provision for credit losses | 8,508 | 31,095 | ||||||||||||||
Net interest income after provisions for credit losses | 401,704 | 338,425 | ||||||||||||||
Noninterest income | 103,575 | 97,366 | ||||||||||||||
Noninterest expense | 238,926 | 215,736 | ||||||||||||||
Net income before income taxes | 266,353 | 220,055 | ||||||||||||||
Income tax expense | 48,608 | 39,785 | ||||||||||||||
Net income | $ | 217,745 | $ | 180,270 | ||||||||||||
PER COMMON SHARE DATA | ||||||||||||||||
Net income - basic | $ | 1.52 | $ | 1.26 | ||||||||||||
Net income - diluted | 1.51 | 1.26 | ||||||||||||||
Cash dividends declared | 0.63 | 0.56 | ||||||||||||||
Book value | 12.78 | 12.78 | ||||||||||||||
Tangible book value | 10.59 | 10.59 | ||||||||||||||
Market value | $ | 31.74 | $ | 33.65 | ||||||||||||
Shares outstanding - end of period | 143,397,258 | 143,188,051 | ||||||||||||||
Average outstanding shares - basic | 143,276,199 | 143,026,664 | ||||||||||||||
Average outstanding shares - diluted | 143,741,994 | 143,422,534 | ||||||||||||||
PERFORMANCE RATIOS | ||||||||||||||||
Return on average assets | 1.90 | % | 1.70 | % | ||||||||||||
Return on average equity | 14.85 | 14.22 | ||||||||||||||
Return on average tangible equity | 17.68 | 17.46 | ||||||||||||||
Net interest margin (tax equivalent) | 3.89 | 3.79 | ||||||||||||||
Efficiency ratio | 45.51 | 45.33 | ||||||||||||||
FIRST FINANCIAL BANKSHARES, INC. | |||||||||||||||
Quarter Ended | |||||||||||||||
2026 | 2025 | ||||||||||||||
ALLOWANCE FOR LOAN LOSSES | Sept. 30, | June 30, | Mar. 31, | Dec. 31, | Sept. 30, | ||||||||||
Balance at beginning of period | $ | 112,433 | $ | 107,918 | $ | 105,536 | $ | 105,958 | $ | 102,792 | |||||
Loans charged-off | (1,740) | (961) | (1,174) | (3,387) | (22,612) | ||||||||||
Loan recoveries | 805 | 1,561 | 818 | 2,996 | 272 | ||||||||||
Net recoveries (charge-offs) | (935) | 600 | (356) | (391) | (22,340) | ||||||||||
Provision for loan losses | 2,394 | 3,915 | 2,738 | (31) | 25,506 | ||||||||||
Balance at end of period | $ | 113,892 | $ | 112,433 | $ | 107,918 | $ | 105,536 | $ | 105,958 | |||||
ALLOWANCE FOR UNFUNDED COMMITMENTS | |||||||||||||||
Balance at beginning of period | $ | 6,208 | $ | 5,940 | $ | 6,387 | $ | 8,842 | $ | 9,914 | |||||
Provision for unfunded commitments | (360) | 268 | (447) | (2,455) | (1,072) | ||||||||||
Balance at end of period | $ | 5,848 | $ | 6,208 | $ | 5,940 | $ | 6,387 | $ | 8,842 | |||||
Allowance for loan losses / | |||||||||||||||
period-end loans held-for-investment | 1.33 | % | 1.35 % | % | 1.30 | % | 1.29 | % | 1.29 | % | |||||
Allowance for loan losses / | |||||||||||||||
nonperforming loans | 199.19 | 174.94 | 206.16 | 188.41 | 187.39 | ||||||||||
Net charge-offs (recoveries) / average total loans | |||||||||||||||
(annualized) | 0.04 | (0.03) | 0.02 | 0.02 | 1.07 | ||||||||||
Quarter Ended | |||||||||||||||
2026 | 2025 | ||||||||||||||
COMPOSITION OF LOANS HELD-FOR-INVESTMENT | Sept. 30, | June 30, | Mar. 31, | Dec. 31, | Sept. 30, | ||||||||||
Commercial: | |||||||||||||||
C&I | $ | 1,164,597 | $ | 1,087,656 | $ | 1,149,931 | $ | 1,116,461 | $ | 1,174,770 | |||||
Municipal | 444,341 | 419,070 | 384,473 | 342,501 | 347,559 | ||||||||||
Total Commercial | 1,608,938 | 1,506,726 | 1,534,404 | 1,458,962 | 1,522,329 | ||||||||||
Agricultural | 79,796 | 81,786 | 77,583 | 95,776 | 88,820 | ||||||||||
Real Estate: | |||||||||||||||
Construction & Development | 1,089,540 | 1,191,082 | 1,169,037 | 1,157,865 | 1,214,649 | ||||||||||
Farm | 349,484 | 344,483 | 329,151 | 327,625 | 322,710 | ||||||||||
Non-Owner Occupied CRE | 919,847 | 831,929 | 825,771 | 832,816 | 802,675 | ||||||||||
Owner Occupied CRE | 1,161,530 | 1,144,093 | 1,132,114 | 1,120,608 | 1,119,425 | ||||||||||
Residential | 2,358,106 | 2,322,000 | 2,322,097 | 2,285,830 | 2,308,708 | ||||||||||
Total Real Estate | 5,878,507 | 5,833,587 | 5,778,170 | 5,724,744 | 5,768,167 | ||||||||||
Consumer: | |||||||||||||||
Auto | 817,771 | 776,433 | 751,283 | 732,351 | 718,501 | ||||||||||
Non-Auto | 153,776 | 148,399 | 143,680 | 146,443 | 145,808 | ||||||||||
Total Consumer | 971,547 | 924,832 | 894,963 | 878,794 | 864,309 | ||||||||||
Total loans held-for-investment | $ | 8,538,788 | $ | 8,346,931 | $ | 8,285,120 | $ | 8,158,276 | $ | 8,243,625 | |||||
SUMMARY OF LOAN CLASSIFICATION | |||||||||||||||
Special Mention | $ | 65,080 | $ | 48,486 | $ | 66,864 | $ | 66,058 | $ | 76,647 | |||||
Substandard | 229,405 | 234,618 | 222,895 | 189,548 | 176,311 | ||||||||||
Total classified loans | $ | 294,485 | $ | 283,104 | $ | 289,759 | $ | 255,606 | $ | 252,958 | |||||
NONPERFORMING ASSETS | |||||||||||||||
Nonaccrual loans | $ | 57,158 | $ | 63,310 | $ | 52,129 | $ | 55,121 | $ | 56,394 | |||||
Accruing loans 90 days past due | 19 | 958 | 218 | 892 | 151 | ||||||||||
Total nonperforming loans | 57,177 | 64,268 | 52,347 | 56,013 | 56,545 | ||||||||||
Foreclosed assets | 3,277 | 2,770 | 1,962 | 479 | 1,997 | ||||||||||
Total nonperforming assets | $ | 60,454 | $ | 67,038 | $ | 54,309 | $ | 56,492 | $ | 58,542 | |||||
As a % of loans held-for-investment and foreclosed assets | 0.71 | % | 0.80 | % | 0.66 | % | 0.69 | % | 0.71 | % | |||||
As a % of end of period total assets | 0.40 | 0.44 | 0.35 | 0.37 | 0.39 | ||||||||||
Quarter Ended | |||||||||||||||
2026 | 2025 | ||||||||||||||
CAPITAL RATIOS | Sept. 30, | June 30, | Mar. 31, | Dec. 31, | Sept. 30, | ||||||||||
Common equity Tier 1 capital ratio | 20.45 | % | 20.40 | % | 20.23 | % | 19.99 | % | 19.10 | % | |||||
Tier 1 capital ratio | 20.45 | 20.40 | 20.23 | 19.99 | 19.10 | ||||||||||
Total capital ratio | 21.66 | 21.62 | 21.42 | 21.17 | 20.29 | ||||||||||
Tier 1 leverage ratio | 13.12 | 12.88 | 12.58 | 12.55 | 12.34 | ||||||||||
Tangible common equity ratio | 10.23 | 11.23 | 10.81 | 10.60 | 10.44 | ||||||||||
Equity/Assets ratio | 12.09 | 13.05 | 12.63 | 12.41 | 12.33 | ||||||||||
Quarter Ended | |||||||||||||||
2026 | 2025 | ||||||||||||||
NONINTEREST INCOME | Sept. 30, | June 30, | Mar. 31, | Dec. 31, | Sept. 30, | ||||||||||
Wealth Management fees | $ | 14,492 | $ | 13,960 | $ | 13,363 | $ | 13,512 | $ | 12,950 | |||||
Service charges on deposits | 6,693 | 6,263 | 6,077 | 6,140 | 6,447 | ||||||||||
Debit card fees | 5,953 | 5,584 | 5,245 | 5,791 | 5,333 | ||||||||||
Credit card fees | 721 | 734 | 651 | 678 | 699 | ||||||||||
Gain on sale and fees on mortgage loans | 4,175 | 4,679 | 4,277 | 4,216 | 4,375 | ||||||||||
Net gain (loss) on sale of securities | (9) | - | - | - | - | ||||||||||
Net gain (loss) on sale of foreclosed assets | (2) | (19) | (56) | (12) | (122) | ||||||||||
Net gain (loss) on sale of assets | (1) | (374) | - | - | - | ||||||||||
SERP Market Adjustment | 16 | 1,397 | (287) | (36) | 286 | ||||||||||
Other noninterest income | 3,597 | 3,620 | 2,826 | 3,060 | 4,296 | ||||||||||
Total noninterest income | $ | 35,635 | $ | 35,844 | $ | 32,096 | $ | 33,349 | $ | 34,264 | |||||
NONINTEREST EXPENSE | |||||||||||||||
Salaries, commissions and employee benefits, excluding SERP and Profit Sharing | $ | 44,876 | $ | 44,819 | $ | 43,246 | $ | 42,445 | $ | 40,395 | |||||
SERP Market Adjustment | 16 | 1,397 | (287) | (36) | 286 | ||||||||||
Profit sharing expense | 2,917 | 3,444 | 3,023 | 4,819 | 1,924 | ||||||||||
Net occupancy expense | 3,837 | 3,728 | 3,630 | 3,458 | 3,545 | ||||||||||
Equipment expense | 2,306 | 2,169 | 2,158 | 2,128 | 2,395 | ||||||||||
FDIC insurance premiums | 1,709 | 1,767 | 1,560 | 1,695 | 1,635 | ||||||||||
Debit card expense | 3,029 | 3,043 | 3,108 | 3,265 | 3,512 | ||||||||||
Legal, tax and professional fees | 4,527 | 4,159 | 3,834 | 3,079 | 3,332 | ||||||||||
Audit fees | 406 | 441 | 455 | 531 | 536 | ||||||||||
Printing, stationery and supplies | 490 | 292 | 623 | 528 | 456 | ||||||||||
Amortization of intangible assets | 42 | 43 | 43 | 86 | 86 | ||||||||||
Advertising, meals and public relations | 2,050 | 1,849 | 1,701 | 1,923 | 1,714 | ||||||||||
Operational and other losses | 1,333 | 801 | 1,000 | 1,583 | 1,957 | ||||||||||
Software amortization and expense | 5,067 | 5,053 | 4,594 | 4,456 | 4,280 | ||||||||||
Other noninterest expense | 8,447 | 8,101 | 8,080 | 7,690 | 7,613 | ||||||||||
Total noninterest expense | $ | 81,052 | $ | 81,106 | $ | 76,768 | $ | 77,650 | $ | 73,666 | |||||
TAX EQUIVALENT YIELD ADJUSTMENT | $ | 3,625 | $ | 3,799 | $ | 3,791 | $ | 3,709 | $ | 3,406 | |||||
Nine Months Ended | |||||||
Sept. 30, | |||||||
NONINTEREST INCOME | 2026 | 2025 | |||||
Wealth Management fees | $ | 41,815 | $ | 38,349 | |||
Service charges on deposits | 19,033 | 18,749 | |||||
Debit card fees | 16,782 | 15,519 | |||||
Credit card fees | 2,106 | 1,983 | |||||
Gain on sale and fees on mortgage loans | 13,131 | 11,333 | |||||
Net gain (loss) on sale of securities | (9) | - | |||||
Net gain (loss) on sale of foreclosed assets | (77) | 43 | |||||
Net gain (loss) on sale of assets | (375) | 6 | |||||
SERP Market Adjustment | 1,126 | 497 | |||||
Other noninterest income | 10,043 | 10,887 | |||||
Total noninterest income | $ | 103,575 | $ | 97,366 | |||
NONINTEREST EXPENSE | |||||||
Salaries, commissions and employee benefits, excluding SERP and Profit Sharing | $ | 132,941 | $ | 119,175 | |||
SERP Market Adjustment | 1,126 | 497 | |||||
Profit sharing expense | 9,384 | 7,650 | |||||
Net occupancy expense | 11,195 | 10,865 | |||||
Equipment expense | 6,633 | 7,194 | |||||
FDIC insurance premiums | 5,036 | 4,795 | |||||
Debit card expense | 9,180 | 10,193 | |||||
Legal, tax and professional fees | 12,520 | 9,541 | |||||
Audit fees | 1,302 | 1,450 | |||||
Printing, stationery and supplies | 1,405 | 1,411 | |||||
Amortization of intangible assets | 128 | 266 | |||||
Advertising, meals and public relations | 5,600 | 5,047 | |||||
Operational and other losses | 3,134 | 3,217 | |||||
Software amortization and expense | 14,714 | 12,032 | |||||
Other noninterest expense | 24,628 | 22,403 | |||||
Total noninterest expense | $ | 238,926 | $ | 215,736 | |||
TAX EQUIVALENT YIELD ADJUSTMENT | $ | 11,215 | $ | 9,032 | |||
FIRST FINANCIAL BANKSHARES, INC. | |||||||||||||||||||||
SELECTED FINANCIAL DATA (UNAUDITED) | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Three Months Ended | Three Months Ended | ||||||||||||||||||||
Sept. 30, 2026 | June 30, 2026 | ||||||||||||||||||||
Average | Tax Equivalent | Yield / | Average | Tax Equivalent | Yield / | ||||||||||||||||
Balance | Interest | Rate | Balance | Interest | Rate | ||||||||||||||||
Interest-earning assets: | |||||||||||||||||||||
Federal funds sold | $ | 6,005 | $ | 60 | 3.96 | % | $ | 4,642 | $ | 43 | 3.72 | % | |||||||||
Interest-bearing demand deposits in nonaffiliated banks | 282,340 | 2,775 | 3.90 | 333,359 | 3,074 | 3.70 | |||||||||||||||
Taxable securities | 4,104,496 | 35,024 | 3.41 | 4,091,117 | 33,666 | 3.29 | |||||||||||||||
Tax-exempt securities | 1,568,453 | 12,950 | 3.30 | 1,709,709 | 14,134 | 3.31 | |||||||||||||||
Loans | 8,468,672 | 141,862 | 6.65 | 8,317,815 | 138,841 | 6.70 | |||||||||||||||
Total interest-earning assets | 14,429,966 | $ | 192,671 | 5.30 | % | 14,456,642 | $ | 189,758 | 5.26 | % | |||||||||||
Noninterest-earning assets | 871,586 | 833,268 | |||||||||||||||||||
Total assets | $ | 15,301,552 | $ | 15,289,910 | |||||||||||||||||
Interest-bearing liabilities: | |||||||||||||||||||||
Deposits | $ | 9,630,365 | $ | 50,252 | 2.07 | % | $ | 9,676,860 | $ | 48,697 | 2.02 | % | |||||||||
Repurchase Agreements | 57,939 | 206 | 1.41 | 60,403 | 223 | 1.48 | |||||||||||||||
Borrowings | 22,686 | 81 | 1.42 | 28,459 | 125 | 1.76 | |||||||||||||||
Total interest-bearing liabilities | 9,710,990 | $ | 50,539 | 2.06 | % | 9,765,722 | $ | 49,045 | 2.01 | % | |||||||||||
Noninterest-bearing deposits | 3,508,797 | 3,445,033 | |||||||||||||||||||
Other noninterest-bearing liabilities | 118,844 | 116,944 | |||||||||||||||||||
Shareholders' equity | 1,962,921 | 1,962,211 | |||||||||||||||||||
Total liabilities and shareholders' equity | $ | 15,301,552 | $ | 15,289,910 | |||||||||||||||||
Net interest income and margin (tax equivalent) | $ | 142,132 | 3.91 | % | $ | 140,713 | 3.90 | % | |||||||||||||
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 | |||||||||||||||||||||
Sept. 30, 2025 | |||||||||||||||||||||
Average | Tax Equivalent | Yield / | |||||||||||||||||||
Balance | Interest | Rate | |||||||||||||||||||
Interest-earning assets: | |||||||||||||||||||||
Federal funds sold | $ | 10,711 | $ | 130 | 4.82 | % | |||||||||||||||
Interest-bearing demand deposits in nonaffiliated banks | 216,739 | 2,387 | 4.37 | ||||||||||||||||||
Taxable securities | 3,560,347 | 26,539 | 2.98 | ||||||||||||||||||
Tax-exempt securities | 1,564,767 | 12,906 | 3.30 | ||||||||||||||||||
Loans | 8,249,113 | 141,136 | 6.79 | ||||||||||||||||||
Total interest-earning assets | 13,601,677 | $ | 183,098 | 5.34 | % | ||||||||||||||||
Noninterest-earning assets | 826,660 | ||||||||||||||||||||
Total assets | $ | 14,428,337 | |||||||||||||||||||
Interest-bearing liabilities: | |||||||||||||||||||||
Deposits | $ | 9,051,463 | $ | 52,010 | 2.28 | % | |||||||||||||||
Repurchase Agreements | 50,051 | 210 | 1.66 | ||||||||||||||||||
Borrowings | 56,198 | 471 | 3.33 | ||||||||||||||||||
Total interest-bearing liabilities | 9,157,712 | $ | 52,691 | 2.28 | % | ||||||||||||||||
Noninterest-bearing deposits | 3,419,378 | ||||||||||||||||||||
Other noninterest-bearing liabilities | 101,268 | ||||||||||||||||||||
Shareholders' equity | 1,749,979 | ||||||||||||||||||||
Total liabilities and shareholders' equity | $ | 14,428,337 | |||||||||||||||||||
Net interest income and margin (tax equivalent) | $ | 130,407 | 3.80 | % | |||||||||||||||||
Nine Months Ended | Nine Months Ended | ||||||||||||||||||||
Sept. 30, 2026 | Sept. 30, 2025 | ||||||||||||||||||||
Average | Tax Equivalent | Yield / | Average | Tax Equivalent | Yield / | ||||||||||||||||
Balance | Interest | Rate | Balance | Interest | Rate | ||||||||||||||||
Interest-earning assets: | |||||||||||||||||||||
Federal funds sold | $ | 5,076 | $ | 143 | 3.77 | % | $ | 9,240 | $ | 334 | 4.83 | % | |||||||||
Interest-bearing deposits in nonaffiliated banks | 358,436 | 10,058 | 3.75 | 293,984 | 9,752 | 4.44 | |||||||||||||||
Taxable securities | 4,090,870 | 100,973 | 3.29 | 3,512,304 | 76,816 | 2.92 | |||||||||||||||
Tax exempt securities | 1,667,729 | 41,268 | 3.30 | 1,469,158 | 33,629 | 3.05 | |||||||||||||||
Loans | 8,354,207 | 416,723 | 6.67 | 8,083,638 | 408,113 | 6.75 | |||||||||||||||
Total interest-earning assets | 14,476,318 | $ | 569,165 | 5.26 | % | 13,368,324 | $ | 528,644 | 5.29 | % | |||||||||||
Noninterest-earning assets | 842,359 | 826,449 | |||||||||||||||||||
Total assets | $ | 15,318,677 | $ | 14,194,773 | |||||||||||||||||
Interest-bearing liabilities: | |||||||||||||||||||||
Deposits | $ | 9,709,818 | $ | 146,800 | 2.02 | % | $ | 8,953,017 | $ | 148,291 | 2.21 | % | |||||||||
Repurchase Agreements | 60,379 | 658 | 1.46 | 52,801 | 641 | 1.62 | |||||||||||||||
Borrowings | 24,436 | 280 | 1.53 | 52,380 | 1,160 | 2.96 | |||||||||||||||
Total interest-bearing liabilities | 9,794,633 | $ | 147,738 | 2.02 | % | 9,058,198 | $ | 150,092 | 2.22 | % | |||||||||||
Noninterest-bearing deposits | 3,452,035 | 3,356,999 | |||||||||||||||||||
Other noninterest-bearing liabilities | 111,334 | 85,148 | |||||||||||||||||||
Shareholders' equity | 1,960,675 | 1,694,428 | |||||||||||||||||||
Total liabilities and shareholders' equity | $ | 15,318,677 | $ | 14,194,773 | |||||||||||||||||
Net interest income and margin (tax equivalent) | $ | 421,427 | 3.89 | % | $ | 378,552 | 3.79 | % | |||||||||||||
SOURCE First Financial Bankshares, Inc.
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