First Financial Bankshares Inc

Latest Results (26.12.2024):

Earnings Growth

First Financial Bankshares Inc. reported earnings of $55.31 million for the third quarter of 2024, marking an increase from $52.49 million in the second quarter of 2024 and $49.56 million in the third quarter of 2023. This growth reflects an 11.61 percent increase in earnings compared to the same quarter last year.

Net Interest Income

Net interest income for First Financial Bankshares Inc. in the third quarter of 2024 was $107.11 million, up from $103.27 million in the previous quarter and $94.15 million in the third quarter of 2023. The net interest margin improved to 3.50 percent from 3.48 percent in the second quarter of 2024 and 3.22 percent in the third quarter of 2023.

Credit Loss Provisions

The company recorded a provision for credit losses of $6.12 million for the third quarter of 2024, compared to $5.89 million in the second quarter of 2024 and $2.28 million in the third quarter of 2023. The allowance for credit losses totaled $99.94 million as of September 30, 2024, representing 1.29 percent of loans held-for-investment.

Noninterest Income

Noninterest income for First Financial Bankshares Inc. was $32.36 million in the third quarter of 2024, an increase from $28.07 million in the same quarter of 2023. This growth was driven by higher trust fee income and increased debit card fees, although mortgage income saw a slight decline due to stagnant origination volumes.

Asset and Deposit Growth

As of September 30, 2024, First Financial Bankshares Inc. reported consolidated total assets of $13.58 billion, up from $12.78 billion a year earlier. Loans grew to $7.72 billion, and Deposits and Repurchase Agreements increased to $11.81 billion, reflecting strong growth in both areas during the third quarter of 2024.