FIRST FINANCIAL BANKSHARES INC

Listed Company

FFINCIK 0000036029NasdaqLarge AcceleratedState Commercial BanksTexasFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$253.58M

Total Assets

$15.45B

Equity

$1.92B

Shares Out

143.23M

Op. Cash Flow

$299.44M

+ 13F Filer

Business

First Financial Bankshares, Inc. is a financial holding company that provides management, oversight and policy direction to subsidiaries engaged in commercial banking and related financial services. It offers deposit and lending products, branch and digital banking, ATM and cash management services, mortgage origination, trust and wealth management, securities brokerage (via a third party), insurance agency services, portfolio management and technology/support services. Its principal operating divisions include First Financial Bank (organized into eight regional banking regions), First Financial Trust & Asset Management, insurance and investment subsidiaries, and technology and portfolio affiliates. The company operates primarily across Central, North Central, Southeast and West Texas through a network of banking centers, mortgage offices and trust locations.

Summary from filing dated 2025-02-21

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Interest and fees on loans	544	503	406	296	272
Taxable	106	82	80	79	47
Exempt from federal income tax	38	31	36	54	57
Interest on federal funds sold and interest-bearing deposits in banks	14	13	6	4	739,000
Total income	702	629	528	433	376
Interest on deposits	199	195	125	26	6
Interest on borrowings	2	7	19	5	337,000
Total interest expense	202	202	144	31	—
Net interest income	501	427	384	401	370
PROVISION FOR CREDIT LOSSES	29	14	11	17	−1
Net interest income after provisions for credit losses	472	413	373	384	372
Trust fees	52	47	40	40	36
Service charges on deposit accounts	25	25	25	25	21
Debit card fees	21	21	22	30	36
Credit card fees	3	3	3	3	2
Gain on sale and fees on mortgage loans	16	13	12	19	33
Net loss on sale of available-for-sale securities	0	0	−7	2	815,000
Net gain (loss) on sale of foreclosed assets	31,000	−51,000	46,000	1	190,000
Net gain on sale of assets	6,000	484,000	2	520,000	210,000
Interest on loan recoveries	4	3	2	3	4
Other	11	11	9	8	8
Total noninterest income	131	124	108	132	142
Salaries, commissions and employee benefits	175	153	132	134	142
Net occupancy expense	14	15	14	13	13
Equipment expense	9	9	9	9	9
FDIC insurance premiums	6	6	8	4	3
Debit card expense	13	13	13	12	12
Professional and service fees	11	11	10	9	9
Printing, stationery and supplies	2	1	2	2	2
Operational and other losses	5	4	4	3	3
Software amortization and expense	16	14	10	10	11
Amortization of intangible assets	352,000	618,000	912,000	1	2
Other	40	39	36	37	35
Total noninterest expense	293	265	238	235	242
Earnings before income taxes	310	272	243	281	272
Effective income tax rate ,Amount	56	48	44	46	44
Net earnings	254	224	199	234	228
NET EARNINGS PER SHARE, BASIC	1.77	1.56	1.39	1.64	1.6
NET EARNINGS PER SHARE, DILUTED	1.77	1.56	1.39	1.64	1.59
DIVIDENDS PER SHARE	0.75	0.72	0.71	0.66	0.58

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
CASH AND DUE FROM BANKS	249	260	281	293	205
FEDERAL FUNDS SOLD	2	0	—	—	—
INTEREST-BEARING DEMAND DEPOSITS IN BANKS	827	503	255	37	324
Total cash and cash equivalents	1,078	763	537	331	529
SECURITIES AVAILABLE-FOR-SALE, at fair value (amortized cost of these securities was $5,856,138 and $5,155,305 as of December 31, 2025 and 2024, respectively)	5,514	4,618	4,733	5,474	6,573
Held-for-investment	8,158	7,913	7,149	—	—
Less - allowance for credit losses	−106	−98	−89	—	—
Net loans held-for-investment	8,053	7,815	7,060	—	—
Held-for-sale ($25,431 and $7,793 at fair value as of December 31, 2025 and 2024, respectively)	30	8	14	12	38
BANK PREMISES AND EQUIPMENT, net	150	152	152	153	150
INTANGIBLE ASSETS, net	314	314	315	316	317
OTHER ASSETS	308	309	296	323	171
Total assets	15,446	13,979	13,106	12,974	13,102
NONINTEREST-BEARING DEPOSITS	3,401	3,348	3,436	4,062	3,780
INTEREST-BEARING DEPOSITS	9,944	8,751	7,703	6,944	6,786
Total deposits	13,346	12,099	11,138	11,006	10,566
DIVIDENDS PAYABLE	27	26	26	24	21
REPURCHASE AGREEMENTS	63	61	382	619	—
BORROWINGS	22	136	22	24	671
OTHER LIABILITIES	72	51	39	36	84
Total liabilities	13,529	12,373	11,607	11,708	11,343
COMMITMENTS AND CONTINGENCIES	—	—	—	—	—
COMMON STOCK- $0.01 par value; authorized 200,000,000 shares; 143,213,102 and 142,944,704 shares issued at December 31, 2025 and 2024, respectively	1	1	1	1	1
CAPITAL SURPLUS	700	689	681	678	677
RETAINED EARNINGS	1,486	1,340	1,220	1,122	982
TREASURY STOCK (shares at cost: 936,268 and 929,735 at December 31, 2025 and 2024, respectively)	−14	−13	−12	−11	−10
DEFERRED COMPENSATION	14	13	12	11	10
ACCUMULATED OTHER COMPREHENSIVE EARNINGS (LOSS), net	−270	−424	−403	−535	99
Total shareholders equity	1,917	1,607	1,499	1,266	1,759
Total liabilities and shareholders equity	15,446	13,979	13,106	12,974	13,102

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net earnings	254	224	199	234	228
Depreciation and amortization	14	13	13	13	13
Securities premium amortization, net	38	45	52	71	68
(Gain) loss on sale of securities and other assets, net	−37,000	−433,000	6	−4	−1
Stock-based compensation	7	5	4	4	3
Net tax benefit from stock-based compensation	493,000	361,000	319,000	336,000	−428,000
Deferred federal income tax benefit	−548,000	−620,000	−359,000	−4	4
Change in loans held-for-sale	−21	6	−2	25	44
Change in other assets	−22	−7	−4	−1	−11
Change in other liabilities	2	11	7	−30	11
Total adjustments	46	86	86	90	128
Net cash provided by operating activities	299	310	285	324	355
Sales	0	0	411	479	11
Maturities	8,115	6,643	4,444	4,133	8,496
Purchases	−8,854	−6,599	−4,006	−4,386	−10,888
Net increase in loans held-for-investment	−267	−766	−708	−1,050	−212
Purchases of bank premises and equipment	−13	−17	−17	−16	−19
Proceeds from sale of bank premises and equipment and other assets	3	2	4	1	823,000
Net cash provided by (used in) investing activities	−1,016	−737	127	−838	−2,612
Net increase (decrease) in noninterest-bearing deposits	53	−88	−626	282	798
Net increase in interest-bearing deposits	1,193	1,048	759	157	1,093
Net increase (decrease) in repurchase agreements and borrowings	−112	−207	−238	−29	241
Proceeds from stock option exercises/stock unit conversions/restricted stock activity	3	3	2	6	4
Dividends paid	−106	−103	−100	−91	−80
Repurchase of stock	0	0	−3	−9	0
Net cash provided by (used in) financing activities	1,031	654	−206	316	2,056
NET INCREASE IN CASH AND CASH EQUIVALENTS	315	227	206	−198	−200
Interest paid	203	205	135	31	6
Taxes paid	61	41	47	45	40
Assets acquired through foreclosure	3	2	499,000	0	3
Net increase in capital commitments relating to low-income housing project investments	21	0	0	—	—

Filings

Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro

Material Events

Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro

Insiders

Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro

Institutional Holders

Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro

Holdings (13F)

Portfolio as of 2025-12-31 · 212 positions

Reported AUM

$4.97B

Holdings

212

Top sector

$4.97B

Top sectors

Sector	Value	% of portfolio
Uncategorized	$4.97B	100.0%

Top holdings

Issuer	Ticker	Shares	Value	%
MICROSOFT CORP	—	631.6K	$305.45M	6.2%
BROADCOM INC	—	693.2K	$239.90M	4.8%
JPMORGAN CHASE & CO.	—	737.3K	$237.57M	4.8%
ALPHABET INC	—	704.1K	$220.40M	4.4%
APPLE INC	—	730.0K	$198.45M	4.0%
VANGUARD BD INDEX FDS	—	2.65M	$195.93M	3.9%
ISHARES TR	—	2.92M	$192.77M	3.9%
JOHNSON & JOHNSON	—	709.4K	$146.81M	3.0%
VANGUARD TAX-MANAGED FDS	—	2.11M	$131.85M	2.6%
BLACKSTONE INC	—	734.9K	$113.28M	2.3%