NASDAQ$FFIN

First Financial Bankshares Inc · Q2 2021 earnings

Q2 2021 earnings · · Investor relations

Briefing

First Financial Bankshares reported strong operating results and capitalized on the economic recovery in Texas.

First Financial Bankshares, Inc. reported earnings for the second quarter of 2021 of $56.38 million, compared to $53.47 million for the same quarter a year ago. Basic earnings per share were $0.40, and diluted earnings per share were $0.39 for the second quarter of 2021.

  • Net organic loan growth, excluding PPP loans, was $193.46 million for the quarter.
  • Customer deposits have grown $1.11 billion year-to-date.
  • Net interest income for the second quarter of 2021 was $90.95 million compared to $89.24 million for the second quarter of 2020.
  • Average-earning assets increased to $11.30 billion for the second quarter of 2021 compared to $9.80 billion a year ago.

Headline financials

Total Revenue

$126M

Previous: $126M-0.4%
EPS (adj)

$0.39

Previous: $0.38+2.6%
Net interest margin

3.4%

Previous: 3.8%-11.1%
Efficiency ratio

45.9%

Previous: 41.3%+11.2%
ROA

1.9%

No prior period
ROE

13.4%

No prior period
Free Cash Flow

$56.4M

Previous: $53.5M+5.4%
Net Income

$56.4M

Previous: $53.5M+5.4%
Operating Income

$119M

Previous: $111M+7.5%
Gross Profit

$124M

Previous: $117M+5.9%
Cash & Equivalents

$845M

Previous: $385M+119.5%
Total Assets

$12.3B

Previous: $10.3B+19.2%

Revenue & EPS history

First Financial · Revenue · Quarterly

$126M

Q2 2021-0.4%vs Q2 2020
Beat estimate in 9 of 16 quarters(56%)
ActualEstimate

Revenue by segment

First Financial · $29.4M total across 6 segments · Q2 2023

  • Trust fees
    $9.88M+1.4%
  • Debit card fees
    $6.72M
  • Deposit service charges
    $6.31M+4.5%
  • Mortgage loan fees
    $3.53M-38.3%
  • Other noninterest income
    $2.27M
  • Credit card fees
    $711K

Forward guidance

The company will continue to build relationships, serve our communities across Texas, and remain focused on growth over the last half of 2021.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q2 2021

Historical avgQ2 2021

+0.6%

Avg return

Earnings day

+0.8%

Avg return

5 days after

+3.7%

Avg return

30 days after

52%

36 / 69 earnings

Positive

+7.5%

Q4 2023

Best reaction

-12.7%

Q3 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+4.9%-2.4%+0.8%
Q4 2025-2.8%-7.1%-1.1%
Q3 2025-2.3%-3.8%-1.5%
Q2 2025-2.9%-1.9%-1.1%
Q1 2025-1.3%+2.8%+9.7%
Q4 2024+3.4%+2.3%+0.8%
Q3 2024-0.9%-4.3%+6.7%
Q2 2024+2.0%+7.4%+1.9%
Q1 2024+4.7%+6.5%+10.9%
Q4 2023+7.5%+9.1%+4.3%
Q3 2023-6.0%-5.2%+10.9%
Q2 2023-0.8%+0.3%-4.6%
Q1 2023-5.9%-8.7%-13.8%
Q4 2022+2.0%+1.5%+13.2%
Q3 2022-12.7%-17.4%-17.7%
Q2 2022+3.1%+4.5%+11.7%
Q1 2022-3.2%-5.7%-7.4%
Q4 2021-3.9%-0.6%-0.4%
Q3 2021+3.5%+3.5%+8.0%
Q2 2021-1.6%-1.8%-0.3%
Q1 2021+3.2%+6.2%+7.0%
Q4 2020-5.0%-1.1%+12.0%
Q3 2020+2.5%+0.0%+11.2%
Q2 2020+5.7%+2.5%+5.7%
Q1 2020+3.7%+11.5%+12.1%
Q4 2019+1.3%+1.3%-0.3%
Q3 2019+4.6%+6.1%+3.2%
Q2 2019+4.1%+7.0%+5.1%
Q1 2019-1.3%+0.3%+0.5%
Q4 2018-1.3%-0.3%+2.4%
Q3 2018-1.2%-4.6%+13.8%
Q2 2018+6.1%+9.0%+13.1%
Q1 2018+3.1%+5.1%+9.7%
Q4 2017-0.4%+0.3%+0.9%
Q3 2017+1.7%+0.9%-3.3%
Q2 2017+0.5%+3.3%-7.0%
Q1 2017+4.9%+8.5%+1.9%
Q4 2016-0.9%-1.2%+3.8%
Q3 2016-2.3%-1.4%+22.2%
Q2 2016-0.1%-0.0%+2.1%
Q1 2016-0.3%
Q4 2015-1.7%
Q3 2015+4.3%
Q2 2015-0.1%
Q1 2015+0.3%
Q4 2014+5.0%
Q3 2014+2.6%
Q2 2014-1.2%
Q1 2014+1.9%
Q4 2012+2.6%
Q4 2011+2.6%
Q4 2013-1.9%
Q3 2013+0.7%
Q2 2013+2.3%
Q1 2013+2.2%
Q3 2012+0.3%
Q2 2012+0.0%
Q1 2012+1.7%
Q4 2010-0.2%
Q3 2011-0.5%
Q2 2011-0.3%
Q1 2010-2.6%
Q1 2011+1.1%
Q4 2008+2.7%
Q3 2010+3.7%
Q3 2009+3.7%
Q2 2010-1.9%
Q2 2009-1.9%
Q4 2009-1.9%

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