NASDAQ$FFIN

First Financial Bankshares Inc · Q3 2021 earnings

Q3 2021 earnings · · Investor relations

Briefing

Reported strong operating results driven by organic growth and improving credit metrics.

First Financial Bankshares reported earnings for the third quarter of 2021 of $58.93 million, an increase compared to $52.86 million for the same quarter a year ago. Basic and diluted earnings per share were $0.41 for the third quarter of 2021 compared with $0.37 for the same quarter a year ago. Net loan growth, excluding PPP loans, was $162.95 million for the quarter and customer deposits grew $111.42 million during the quarter.

  • Earnings for the third quarter of 2021 were $58.93 million compared to $52.86 million for the same quarter a year ago.
  • Basic and diluted earnings per share were $0.41 for the third quarter of 2021 compared with $0.37 for the same quarter a year ago.
  • Net interest income for the third quarter of 2021 was $95.78 million compared to $89.21 million for the third quarter of 2020.
  • Customer deposits grew $111.42 million during the quarter.

Headline financials

Total Revenue

$134M

Previous: $128M+4.5%
EPS (adj)

$0.41

Previous: $0.37+10.8%
Net interest margin

3.4%

Previous: 3.8%-9.1%
Efficiency ratio

45.9%

Previous: 42.5%+8.1%
Free Cash Flow

$58.9M

Previous: $52.9M+11.5%
Net Income

$58.9M

Previous: $52.9M+11.5%
Operating Income

$128M

Previous: $113M+13.8%
Gross Profit

$134M

Previous: $119M+12.4%
Cash & Equivalents

$561M

Previous: $234M+139.8%
Total Assets

$12.5B

Previous: $10.6B+18.7%

Revenue & EPS history

First Financial · Revenue · Quarterly

$134M

Q3 2021+4.5%vs Q3 2020
Beat estimate in 8 of 16 quarters(50%)
ActualEstimate

Revenue by segment

First Financial · $23.9M total across 3 segments · Q3 2021

  • Trust fees
    $9.48M+27.1%
  • Mortgage loan fees
    $8.79M-42.3%
  • Deposit service charges
    $5.67M+13.3%

Forward guidance

The company is focused on closing out 2021 with strong growth as they serve their communities across Texas.

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 Q3 2021

Historical avgQ3 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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