NASDAQ$FFIN
First Financial Bankshares Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Reported earnings for the third quarter of 2023.
First Financial Bankshares reported earnings of $49.56 million for the third quarter of 2023, a decrease compared to the previous quarter and the same quarter last year. Diluted earnings per share were $0.35, also lower than the previous quarter and the prior year. The company's net interest income was $94.15 million, and the net interest margin was 3.22 percent.
- Earnings were $49.56 million for the third quarter of 2023, compared to $50.87 million for the second quarter of 2023 and $59.34 million for the same quarter a year ago.
- Diluted earnings per share were $0.35 for the third quarter of 2023, compared with $0.36 for the second quarter of 2023 and $0.41 for the third quarter of 2022.
- Net interest income for the third quarter of 2023 was $94.15 million compared to $95.87 million in the second quarter of 2023 and $103.16 million for the third quarter of 2022.
- Loans totaled $6.99 billion at September 30, 2023, compared with loans of $6.26 billion at September 30, 2022.
Headline financials
Revenue & EPS history
First Financial · Revenue · Quarterly
$122M
Revenue by segment
First Financial · $29.4M total across 6 segments · Q2 2023
- Trust fees$9.88M+1.4%33.6%
- Debit card fees$6.72M—22.8%
- Deposit service charges$6.31M+4.5%21.4%
- Mortgage loan fees$3.53M-38.3%12.0%
- Other noninterest income$2.27M—7.7%
- Credit card fees$711K—2.4%
Forward guidance
Management is focused on disciplined balance sheet management, expense reduction, and maximizing efficiencies. Monthly maturities from bond and loan portfolios are expected to provide liquidity for loan growth, which should improve interest income.
Tailwinds
- Strong liquidity position.
- Healthy capital levels.
- Ability to attract loan and deposit customers at favorable terms.
- Stable deposit balances with continued net new account growth.
- Loan growth expected to improve interest income.
Headwinds
- Some banks do not have the liquidity to serve their loan customers
- Managing our balance sheet in a disciplined manner
- Reducing expenses and maximizing efficiencies
- Monthly maturities off our bond and loan portfolios are providing us with the needed liquidity to grow loans which will improve our interest income as we go forward.
- Appreciating the continued support of our customers, shareholders, and associates
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 2023
+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
| Quarter | Report date | Reaction (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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