NASDAQ$FFIN

First Financial Bankshares Inc · Q3 2024 earnings

Q3 2024 earnings · · Investor relations

Briefing

Reported earnings with growth in loans, deposits, and net interest income.

First Financial Bankshares reported earnings of $55.31 million for the third quarter of 2024, an increase of 11.61% compared to the same quarter last year. The growth was driven by continued growth in loans, deposits and net interest income.

  • Earnings for the third quarter of 2024 were $55.31 million, compared to $49.56 million for the same quarter a year ago.
  • Diluted earnings per share were $0.39 for the third quarter of 2024, compared with $0.35 for the third quarter of 2023.
  • Net interest income for the third quarter of 2024 was $107.11 million, compared to $94.15 million for the third quarter of 2023.
  • Loans grew $203.46 million during the third quarter of 2024, or 10.76 percent annualized, when compared to June 30, 2024 balances.

Headline financials

Total Revenue

$139M

Previous: $122M+14.1%
EPS

$0.39

Previous: $0.35+11.4%
Net interest margin

3.5%

Previous: 3.2%+8.7%
Efficiency ratio

46.5%

Previous: 47.6%-2.5%
ROA

1.7%

No prior period
ROE

14.0%

No prior period
Return on tangible equity

17.5%

No prior period
Loan loss reserve / loans

1.3%

No prior period
Loan loss reserve / NPLs

156.4%

No prior period
Net charge-offs / loans

0.0%

No prior period
NPAs / loans + foreclosed

0.8%

No prior period
NPAs / total assets

0.5%

No prior period
CET1 ratio

18.8%

No prior period
Tier 1 capital ratio

18.8%

No prior period
Total capital ratio

20.0%

No prior period
Tier 1 leverage ratio

12.5%

No prior period
Tangible equity ratio

10.2%

No prior period
Equity to assets ratio

12.2%

No prior period
Capital Expenditures

-$3.05M

No prior period
Free Cash Flow

$55.3M

Previous: $49.6M+11.6%
Net Income

$55.3M

Previous: $49.6M+11.6%
Operating Income

$76.3M

Previous: $75.3M+1.4%
Gross Profit

$133M

Previous: $120M+11.2%
Cash & Equivalents

$584M

Previous: $388M+50.3%
Total Assets

$13.6B

Previous: $12.8B+6.3%
Stock-Based Comp

$1.26M

Previous: $1.05M+19.8%

Revenue & EPS history

First Financial · Revenue · Quarterly

$139M

Q3 2024+14.1%vs Q3 2023
Beat estimate in 4 of 15 quarters(27%)
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 is encouraged about the remainder of the year and is committed to its continued focus on excellent customer service by building relationships and supporting our communities.

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 2024

Historical avgQ3 2024

+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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