Form 8-K

8-K — FIRST FINANCIAL BANKSHARES INC

Accession: 0001193125-26-307884

Filed: 2026-07-17

Period: 2026-07-16

CIK: 0000036029

SIC: 6022 (STATE COMMERCIAL BANKS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — ffin-20260716.htm (Primary)

EX-99.1 (ffin-ex99_1.htm)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: ffin-20260716.htm · Sequence: 1

8-K

0000036029false00000360292026-07-162026-07-16

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of Earliest Event Reported): July 16, 2026

First Financial Bankshares, Inc.

(Exact name of registrant as specified in its Charter)

Texas

0-07674

75-0944023

(State or other jurisdiction of

incorporation or organization)

(Commission

File No.)

(I.R.S. Employer

Identification No.)

400 Pine Street, Abilene, Texas 79601

(Address of Principal Executive Offices and Zip Code)

Registrant’s Telephone Number (325) 627-7155

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 203.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2 (b))

☐

Pre-commencement communications pursuant to Rule 13e-4 (c) under the Exchange Act (17 CFR 240.13 e-4 (c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading

Symbol(s)

Name of each exchange

on which registered

Common Stock, $0.01 par value

FFIN

The Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION

Attached as an exhibit to this Form 8-K is the earnings release for the quarter ended June 30, 2026 of First Financial Bankshares, Inc.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

99.1 Press Release dated July 16, 2026

104 Cover Page Interactive Data File (embedded within Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.

FIRST FINANCIAL BANKSHARES, INC.

(Registrant)

DATE: July 17, 2026

By:

/s/ David W. Bailey

DAVID W. BAILEY

President and Chief Executive Officer

EX-99.1

Filename: ffin-ex99_1.htm · Sequence: 2

EX-99.1

For immediate release

For More Information:

Michelle S. Hickox, EVP & Chief Financial Officer 325.627.7155

FIRST FINANCIAL BANKSHARES ANNOUNCES SECOND QUARTER 2026 EARNINGS

ABILENE, Texas, July 16, 2026 - First Financial Bankshares, Inc. (the “Company,” “we,” “us” or “our”) (NASDAQ: FFIN) today reported earnings of $71.89 million for the second quarter of 2026 compared to earnings of $66.66 million for the same quarter a year ago and $71.54 million for the quarter ended March 31, 2026. Basic and diluted earnings per share were $0.50 for the second quarter of 2026 compared with $0.47 for the second quarter of 2025 and $0.50 for the linked quarter.

“Our second quarter results reflect solid year-over-year earnings growth, highlighted by expansion in our net interest margin and continued increases in fee income generated by wealth management and mortgage banking," said David Bailey, President and CEO. “As we look ahead, we remain focused on disciplined growth, prudent risk management and creating long term value for shareholders. We appreciate the dedication of our associates across Texas and their commitment to serving our customers and communities with excellence.”

Net interest income for the second quarter of 2026 was $136.91 million compared to $123.73 million for the second quarter of 2025 and $134.79 million for the first quarter of 2026. The net interest margin, on a tax-equivalent basis, was 3.90 percent for the second quarter of 2026 compared to 3.81 percent for the second quarter of 2025 and 3.86 percent for the first quarter of 2026. Net interest income and margin benefited from a decrease in deposit costs as well as improved securities yields over the past year. Average interest-earning assets were $14.46 billion for the second quarter of 2026 compared to $13.34 billion for the same quarter a year ago and $14.54 billion for the first quarter of 2026.

The Company recorded a provision for credit losses of $4.18 million for the second quarter of 2026 compared to a provision for credit losses of $3.13 million for the second quarter of 2025 and $2.29 million for the first quarter of 2026. At June 30, 2026, the allowance for credit losses totaled $112.43 million, or 1.35 percent of loans held-for-investment (“loans” hereafter), compared to $102.79 million, or 1.27 percent of loans, at June 30, 2025, and $107.92 million, or 1.30 percent of loans, at March 31, 2026. Additionally, the reserve for unfunded commitments totaled $6.21 million at June 30, 2026 compared to $9.91 million at June 30, 2025, and $5.94 million at March 31, 2026.

For the second quarter of 2026, the Company recorded net recoveries of $600 thousand compared to net charge-offs of $720 thousand for the second quarter of 2025 and net charge-offs of $356 thousand for the first quarter of 2026. Nonperforming assets as a percentage of loans and foreclosed assets totaled 0.80 percent at June 30, 2026, compared to 0.79 percent at June 30, 2025 and 0.66 percent at March 31, 2026. Classified loans totaled $283.10 million at June 30, 2026, compared to $257.07 million at June 30, 2025 and $289.76 million at March 31, 2026.

Noninterest income for the second quarter of 2026 was $35.84 million compared to $32.87 million for the second quarter of 2025 and $32.10 million for the linked quarter.

•

Wealth Management fee income increased to $13.96 million for the second quarter of 2026 compared to $12.75 million for the second quarter of 2025 and $13.36 million for the linked quarter. The increase from prior year is driven by growth in assets under management with the increase over linked quarter related to improved mineral fee revenue due to recent higher oil prices. The market value of assets under management totaled $12.23 billion at June 30, 2026, compared to $11.46 billion at June 30, 2025 and $11.91 billion at March 31, 2026.

•

Service charges on deposits increased to $6.26 million for the second quarter of 2026 compared with $6.13 million for the second quarter of 2025 and $6.08 million for the first quarter 2026, driven by increases in fees on deposit accounts for both periods and offset by a decrease in overdraft fees year over year.

•

Mortgage income increased to $4.68 million for the second quarter of 2026 compared to $4.13 million for the second quarter of 2025 and $4.28 million for first quarter of 2026. Mortgage income continues to benefit from the restructuring of the secondary mortgage department, new mortgage lenders and centralization of mortgage operations this past year and an increase in the volume of mortgage loans originated.

•

Other noninterest income increased to $5.02 million for the second quarter of 2026 compared to $3.74 million for the second quarter of 2025 and $2.54 million in the linked quarter. In the second quarter of 2026, non-interest income increased $1.17 million over the second quarter of 2025 and $1.68 million from the linked quarter reflecting the increase in the fair market value of the assets held in Company’s supplemental executive retirement plan. The plan holds marketable securities, including shares of Company stock. Deferred compensation related to these changes in value is included in salaries and employee benefits expense. Also, during the second quarter of 2026, the Company received life insurance proceeds of approximately $200 thousand for the death of a former employee.

Noninterest expense for the second quarter of 2026 totaled $81.11 million compared to $71.74 million for the second quarter of 2025 and $76.77 million in the linked quarter.

•

Salary, commissions, and employee benefit costs increased to $49.66 million for the second quarter of 2026, compared to $42.58 million in the second quarter of 2025 and $45.98 million for the linked quarter. The increase for both periods is primarily resulting from annual merit-based and market-driven pay increases that were effective March 1st and profit sharing and incentive accruals, which are up due to year-over-year earnings growth. Mortgage incentives are also up for both periods due to higher loan volumes. Also, there was a change in deferred compensation expense of $1.17 million from the second quarter of the prior year and $1.68 million from the first quarter of 2026 due to the increase in the supplemental executive retirement plan deferred compensation liability as discussed above.

•

Noninterest expenses, excluding salary related costs, increased $2.29 million for the second quarter of 2026 compared to the same period in 2025 and $660 thousand compared to the linked quarter, largely due to increases in software amortization and professional fees in both periods and offset by debit card expenses as compared to prior year.

The Company’s efficiency ratio was 45.94 percent for the second quarter of 2026 compared to 44.97 percent for the second quarter of 2025 and 44.98 percent for the first quarter of 2026.

As of June 30, 2026, consolidated total assets were $15.31 billion compared to $14.38 billion at June 30, 2025 and $15.39 billion at March 31, 2026. Loans totaled $8.35 billion at June 30, 2026, compared with loans of $8.07 billion at June 30, 2025 and $8.29 billion at March 31, 2026. During the second quarter of 2026, loans grew $61.81 million, or 2.99 percent annualized, when compared to March 31, 2026 balances. Loans have grown $188.66 million, or 4.66 percent annualized, year-to-date. Deposits and Repurchase Agreements totaled $13.17 billion at June 30, 2026, compared to $12.50 billion at June 30, 2025 and $13.31 billion at March 31, 2026. Deposits and Repurchase Agreement balances are down $234.85 million year-to-date primarily due to reduced balances of municipal deposits from year end. Deposits, excluding public funds, increased $149.57 million year-to-date.

Shareholders’ equity was $2.00 billion as of June 30, 2026, compared to $1.74 billion and $1.94 billion at June 30, 2025 and March 31, 2026, respectively. The unrealized loss on the securities portfolio, net of applicable tax, totaled $279.67 million at June 30, 2026, compared to unrealized losses of $373.46 million at June 30, 2025 and $290.06 million at March 31, 2026, due to changes in market interest rates during the respective periods.

About First Financial Bankshares, Inc.

Headquartered in Abilene, Texas, First Financial Bankshares, Inc. is a financial holding company that through its subsidiary, First Financial Bank, operates multiple banking regions with 79 locations in Texas, including Abilene, Acton, Albany, Aledo, Alvarado, Beaumont, Boyd, Bridgeport, Brock, Bryan, Burleson, College Station, Cisco, Cleburne, Clyde, Conroe, Cut and Shoot, Decatur, Eastland, El Campo, Fort Worth, Franklin, Fulshear, Glen Rose, Granbury, Grapevine, Hereford, Huntsville, Keller, Kingwood, Lumberton, Magnolia, Mauriceville, Merkel, Midlothian, Mineral Wells, Montgomery, Moran, New Waverly, Newton, Odessa, Orange, Palacios, Port Arthur, Ranger, Rising Star, Roby, San Angelo, Southlake, Spring, Stephenville, Sweetwater, Tomball, Trent, Trophy Club, Vidor, Waxahachie, Weatherford, Willis, and Willow Park. The Company also operates First Financial Wealth Management, with nine locations and First Technology Services, Inc., a technology operating company.

The Company is listed on The Nasdaq Global Select Market under the trading symbol FFIN. For more information about First Financial, please visit our website at https://www.ffin.com.

####

Certain statements contained herein may be considered “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. These statements are based upon the belief of the Company's management, as well as assumptions made beyond information currently available to the Company's management, and may be, but not necessarily are, identified by such words as “expect,” “plan,” “anticipate,” “target,” “forecast,” “project,” and “goal.” Because such “forward-looking statements” are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from the Company’s expectations include competition from other financial institutions and financial holding companies; the effects of and changes in trade, monetary and fiscal policies and laws, including interest rate policies of the Federal Reserve Board; economic impact of oil and gas prices, changes in the demand for loans; fluctuations in value of collateral and loan reserves; inflation, interest rate, market and monetary fluctuations; changes in consumer spending, borrowing and savings habits; and acquisitions and integration of acquired businesses, and similar variables. Other key risks are described in the Company’s reports filed with the Securities and Exchange Commission, which may be obtained under “Investor Relations-Documents and Filings” on the Company’s Website or by writing or calling the Company at 325.627.7155. Except as otherwise stated in this news announcement, the Company does not undertake any obligation to update publicly or revise any forward-looking statements because of new information, future events or otherwise.

FIRST FINANCIAL BANKSHARES, INC.

CONSOLIDATED FINANCIAL SUMMARY (UNAUDITED)

(In thousands, except share and per share data)

As of

2026

2025

ASSETS

June 30,

Mar. 31,

Dec. 31,

Sept. 30,

June 30,

Cash and due from banks

284,759

264,850

249,466

237,466

264,000

Interest-bearing demand deposits in banks

286,973

458,203

826,947

401,580

435,612

Federal funds sold

8,650

14,075

1,575

11,750

8,750

Investment securities

5,675,957

5,668,792

5,514,113

5,260,813

4,886,548

Loans, held-for-investment

8,346,931

8,285,120

8,158,276

8,243,625

8,074,944

Allowance for credit losses

(112,433

)

(107,918

)

(105,536

)

(105,958

)

(102,792

)

Net loans, held-for-investment

8,234,498

8,177,202

8,052,740

8,137,667

7,972,152

Loans, held-for-sale

23,616

22,984

29,992

26,015

33,233

Premises and equipment, net

155,560

150,989

149,985

149,651

148,999

Goodwill

313,481

Other intangible assets

128

171

257

343

Other assets

322,857

316,941

308,006

302,848

313,723

Total assets

15,306,437

15,387,645

15,446,476

14,841,528

14,376,841

LIABILITIES AND SHAREHOLDERS' EQUITY

Noninterest-bearing deposits

3,478,755

3,385,878

3,401,057

3,446,262

3,439,059

Interest-bearing deposits

9,641,228

9,859,359

9,944,472

9,399,986

9,009,357

Total deposits

13,119,983

13,245,237

13,345,529

12,846,248

12,448,416

Repurchase agreements

53,656

67,946

62,956

50,646

48,026

Borrowings

21,829

22,306

21,680

21,956

22,153

Trade date payable

24,965

Other liabilities

114,082

108,305

98,994

92,410

95,929

Shareholders' equity

1,996,887

1,943,851

1,917,317

1,830,268

1,737,352

Total liabilities and shareholders' equity

15,306,437

15,387,645

15,446,476

14,841,528

14,376,841

Quarter Ended

2026

2025

INCOME STATEMENTS

June 30,

Mar. 31,

Dec. 31,

Sept. 30,

June 30,

Interest income

185,960

182,945

182,869

179,692

172,810

Interest expense

49,046

48,154

51,501

52,691

49,080

Net interest income

136,914

134,791

131,368

127,001

123,730

Provision for credit losses

4,183

2,291

(2,486

)

24,435

3,132

Net interest income after provision for credit losses

132,731

132,500

133,854

102,566

120,598

Noninterest income

35,844

32,096

33,349

34,264

32,873

Noninterest expense

81,106

76,768

77,650

73,666

71,735

Net income before income taxes

87,469

87,828

89,553

63,164

81,736

Income tax expense

15,575

16,285

16,239

10,897

15,078

Net income

71,894

71,543

73,314

52,267

66,658

PER COMMON SHARE DATA

Net income - basic

0.50

0.51

0.37

0.47

Net income - diluted

0.50

0.51

0.36

0.47

Cash dividends declared

0.22

0.19

Book value

13.93

13.57

13.39

12.78

12.14

Tangible book value

11.75

11.38

11.20

10.59

9.95

Market value

34.60

29.45

29.87

33.65

35.98

Shares outstanding - end of period

143,319,824

143,279,030

143,213,102

143,188,051

143,077,619

Average outstanding shares - basic

143,280,452

143,210,755

143,180,215

143,105,224

143,023,544

Average outstanding shares - diluted

143,698,421

143,608,079

143,542,801

143,474,169

143,378,505

PERFORMANCE RATIOS

Return on average assets

1.89

1.94

1.44

1.89

Return on average equity

14.70

14.83

15.62

11.85

15.82

Return on average tangible equity

17.49

17.66

18.78

14.44

19.43

Net interest margin (tax equivalent)

3.90

3.86

3.81

3.80

3.81

Efficiency ratio

45.94

44.98

46.10

44.74

44.97

FIRST FINANCIAL BANKSHARES, INC.

CONSOLIDATED FINANCIAL SUMMARY (UNAUDITED)

(In thousands, except share and per share data)

Six Months Ended

June 30,

INCOME STATEMENTS

2026

2025

Interest income

368,905

339,920

Interest expense

97,200

97,401

Net interest income

271,705

242,519

Provision for credit losses

6,474

6,660

Net interest income after provisions for credit losses

265,231

235,859

Noninterest income

67,940

63,103

Noninterest expense

157,874

142,070

Net income before income taxes

175,297

156,892

Income tax expense

31,860

28,888

Net income

143,437

128,004

PER COMMON SHARE DATA

Net income - basic

1.00

0.90

Net income - diluted

1.00

0.89

Cash dividends declared

0.41

0.37

Book value

13.93

12.14

Tangible book value

11.75

9.95

Market value

34.60

35.98

Shares outstanding - end of period

143,319,824

143,077,619

Average outstanding shares - basic

143,245,796

142,986,734

Average outstanding shares - diluted

143,662,250

143,378,720

PERFORMANCE RATIOS

Return on average assets

1.89

1.83

Return on average equity

14.76

15.48

Return on average tangible equity

17.57

19.07

Net interest margin (tax equivalent)

3.88

3.78

Efficiency ratio

45.47

45.65

FIRST FINANCIAL BANKSHARES, INC.

SELECTED FINANCIAL DATA (UNAUDITED)

(In thousands)

Quarter Ended

2026

2025

ALLOWANCE FOR LOAN LOSSES

June 30,

Mar. 31,

Dec. 31,

Sept. 30,

June 30,

Balance at beginning of period

107,918

105,536

105,958

102,792

101,080

Loans charged-off

(961

)

(1,174

)

(3,387

)

(22,612

)

(1,189

)

Loan recoveries

1,561

818

2,996

272

469

Net recoveries (charge-offs)

600

(356

)

(391

)

(22,340

)

(720

)

Provision for loan losses

3,915

2,738

(31

)

25,506

2,432

Balance at end of period

112,433

107,918

105,536

105,958

102,792

ALLOWANCE FOR UNFUNDED COMMITMENTS

Balance at beginning of period

5,940

6,387

8,842

9,914

9,214

Provision for unfunded commitments

268

(447

)

(2,455

)

(1,072

)

700

Balance at end of period

6,208

5,940

6,387

8,842

9,914

Allowance for loan losses /

period-end loans held-for-investment

1.35

1.30

1.29

1.27

Allowance for loan losses /

nonperforming loans

174.94

206.16

188.41

187.39

162.60

Net charge-offs (recoveries) / average total loans

(annualized)

(0.03

)

0.02

1.07

0.04

As of

2026

2025

COMPOSITION OF LOANS HELD-FOR-INVESTMENT

June 30,

Mar. 31,

Dec. 31,

Sept. 30,

June 30,

Commercial:

C&I

1,087,656

1,149,931

1,116,461

1,174,770

1,202,151

Municipal

419,070

384,473

342,501

347,559

306,140

Total Commercial

1,506,726

1,534,404

1,458,962

1,522,329

1,508,291

Agricultural

81,786

77,583

95,776

88,820

86,133

Real Estate:

Construction & Development

1,191,082

1,169,037

1,157,865

1,214,649

1,172,834

Farm

344,483

329,151

327,625

322,710

302,969

Non-Owner Occupied CRE

831,929

825,771

832,816

802,675

746,341

Owner Occupied CRE

1,144,093

1,132,114

1,120,608

1,119,425

1,124,610

Residential

2,322,000

2,322,097

2,285,830

2,308,708

2,286,220

Total Real Estate

5,833,587

5,778,170

5,724,744

5,768,167

5,632,974

Consumer:

Auto

776,433

751,283

732,351

718,501

698,897

Non-Auto

148,399

143,680

146,443

145,808

148,649

Total Consumer

924,832

894,963

878,794

864,309

847,546

Total loans held-for-investment

8,346,931

8,285,120

8,158,276

8,243,625

8,074,944

SUMMARY OF LOAN CLASSIFICATION

Special Mention

48,486

66,864

66,058

76,647

62,774

Substandard

234,618

222,895

189,548

176,311

194,291

Total classified loans

283,104

289,759

255,606

252,958

257,065

NONPERFORMING ASSETS

Nonaccrual loans

63,310

52,129

55,121

56,394

63,142

Accruing loans 90 days past due

958

218

892

151

Total nonperforming loans

64,268

52,347

56,013

56,545

63,219

Foreclosed assets

2,770

1,962

479

1,997

489

Total nonperforming assets

67,038

54,309

56,492

58,542

63,708

As a % of loans held-for-investment and foreclosed assets

0.80

0.66

0.69

0.71

0.79

As a % of end of period total assets

0.44

0.35

0.37

0.39

0.44

FIRST FINANCIAL BANKSHARES, INC.

SELECTED FINANCIAL DATA (UNAUDITED)

(In thousands)

Quarter Ended

2026

2025

CAPITAL RATIOS

June 30,

Mar. 31,

Dec. 31,

Sept. 30,

June 30,

Common equity Tier 1 capital ratio

20.40

20.23

19.99

19.10

19.16

Tier 1 capital ratio

20.40

20.23

19.99

19.10

19.16

Total capital ratio

21.62

21.42

21.17

20.29

20.35

Tier 1 leverage ratio

12.88

12.58

12.55

12.34

12.61

Tangible common equity ratio

11.23

10.81

10.60

10.44

10.12

Equity/Assets ratio

13.05

12.63

12.41

12.33

12.08

Quarter Ended

2026

2025

NONINTEREST INCOME

June 30,

Mar. 31,

Dec. 31,

Sept. 30,

June 30,

Wealth Management fees

13,960

13,363

13,512

12,950

12,746

Service charges on deposits

6,263

6,077

6,140

6,447

6,126

Debit card fees

5,584

5,245

5,791

5,333

5,218

Credit card fees

734

651

678

699

707

Gain on sale and fees on mortgage loans

4,679

4,277

4,216

4,375

4,126

Net gain (loss) on sale of foreclosed assets

(19

)

(56

)

(12

)

(122

)

200

Net gain (loss) on sale of assets

(374

)

Other noninterest income

5,017

2,539

3,024

4,582

3,744

Total noninterest income

35,844

32,096

33,349

34,264

32,873

NONINTEREST EXPENSE

Salaries, commissions and employee benefits, excluding profit sharing

46,216

42,959

42,409

40,681

39,834

Profit sharing expense

3,444

3,023

4,819

1,924

2,741

Net occupancy expense

3,728

3,630

3,458

3,545

3,600

Equipment expense

2,169

2,158

2,128

2,395

2,478

FDIC insurance premiums

1,767

1,560

1,695

1,635

1,585

Debit card expense

3,043

3,108

3,265

3,512

3,308

Legal, tax and professional fees

4,159

3,834

3,079

3,332

3,143

Audit fees

441

455

531

536

463

Printing, stationery and supplies

292

623

528

456

473

Amortization of intangible assets

Advertising, meals and public relations

1,849

1,701

1,923

1,714

1,653

Operational and other losses

801

1,000

1,583

1,957

720

Software amortization and expense

5,053

4,594

4,456

4,280

4,020

Other noninterest expense

8,101

8,080

7,690

7,613

7,631

Total noninterest expense

81,106

76,768

77,650

73,666

71,735

TAX EQUIVALENT YIELD ADJUSTMENT

3,799

3,791

3,709

3,406

2,926

FIRST FINANCIAL BANKSHARES, INC.

SELECTED FINANCIAL DATA (UNAUDITED)

(In thousands)

Six Months Ended

June 30,

NONINTEREST INCOME

2026

2025

Wealth Management fees

27,323

25,399

Service charges on deposits

12,340

12,302

Debit card fees

10,829

10,185

Credit card fees

1,385

1,284

Gain on sale and fees on mortgage loans

8,955

6,958

Net gain (loss) on sale of foreclosed assets

(75

)

165

Net gain (loss) on sale of assets

(374

)

Other noninterest income

7,557

6,804

Total noninterest income

67,940

63,103

NONINTEREST EXPENSE

Salaries, commissions and employee benefits, excluding profit sharing

89,175

78,991

Profit sharing expense

6,467

5,726

Net occupancy expense

7,359

7,320

Equipment expense

4,328

4,799

FDIC insurance premiums

3,326

3,160

Debit card expense

6,151

6,680

Legal, tax and professional fees

7,993

6,209

Audit fees

896

914

Printing, stationery and supplies

915

955

Amortization of intangible assets

181

Advertising, meals and public relations

3,550

3,332

Operational and other losses

1,801

1,260

Software amortization and expense

9,646

7,753

Other noninterest expense

16,181

14,790

Total noninterest expense

157,874

142,070

TAX EQUIVALENT YIELD ADJUSTMENT

7,590

5,626

FIRST FINANCIAL BANKSHARES, INC.

SELECTED FINANCIAL DATA (UNAUDITED)

(In thousands)

Three Months Ended

June 30, 2026

Mar. 31, 2026

Average

Tax Equivalent

Yield /

Average

Tax Equivalent

Yield /

Balance

Interest

Rate

Balance

Interest

Rate

Interest-earning assets:

Federal funds sold

4,642

3.72

4,565

3.55

Interest-bearing demand deposits in nonaffiliated banks

333,359

3,074

3.70

461,579

4,209

3.70

Taxable securities

4,091,117

33,666

3.29

4,076,690

32,283

3.17

Tax-exempt securities

1,709,709

14,134

3.31

1,726,765

14,184

3.29

Loans

8,317,815

138,841

6.70

8,273,995

136,020

6.67

Total interest-earning assets

14,456,642

189,758

5.26

14,543,594

186,736

5.21

Noninterest-earning assets

833,268

821,635

Total assets

15,289,910

15,365,229

Interest-bearing liabilities:

Deposits

9,676,860

48,697

2.02

9,824,362

47,851

1.98

Repurchase Agreements

60,403

223

1.48

62,849

229

1.48

Borrowings

28,459

125

1.76

22,155

1.35

Total interest-bearing liabilities

9,765,722

49,045

2.01

9,909,366

48,154

1.97

Noninterest-bearing deposits

3,445,033

3,401,092

Other noninterest-bearing liabilities

116,944

97,986

Shareholders' equity

1,962,211

1,956,785

Total liabilities and shareholders' equity

15,289,910

15,365,229

Net interest income and margin (tax equivalent)

140,713

3.90

138,582

3.86

Three Months Ended

Dec. 31, 2025

Sept. 30, 2025

Average

Tax Equivalent

Yield /

Average

Tax Equivalent

Yield /

Balance

Interest

Rate

Balance

Interest

Rate

Interest-earning assets:

Federal funds sold

6,565

3.75

10,711

130

4.82

Interest-bearing demand deposits in nonaffiliated banks

434,445

4,284

3.91

216,739

2,387

4.37

Taxable securities

3,683,108

29,231

3.17

3,560,347

26,539

2.98

Tax-exempt securities

1,712,261

14,144

3.30

1,564,767

12,906

3.30

Loans

8,241,265

138,857

6.68

8,249,113

141,136

6.79

Total interest-earning assets

14,077,644

186,578

5.26

13,601,677

183,098

5.34

Noninterest-earning assets

893,739

826,660

Total assets

14,971,383

14,428,337

Interest-bearing liabilities:

Deposits

9,476,716

51,207

2.14

9,051,463

52,010

2.28

Repurchase Agreements

56,573

219

1.54

50,051

210

1.66

Borrowings

22,113

1.35

56,198

471

3.33

Total interest-bearing liabilities

9,555,402

51,501

2.14

9,157,712

52,691

2.28

Noninterest-bearing deposits

3,454,171

3,419,378

Other noninterest-bearing liabilities

99,623

101,268

Shareholders' equity

1,862,187

1,749,979

Total liabilities and shareholders' equity

14,971,383

14,428,337

Net interest income and margin (tax equivalent)

135,077

3.81

130,407

3.80

FIRST FINANCIAL BANKSHARES, INC.

SELECTED FINANCIAL DATA (UNAUDITED)

(In thousands)

Three Months Ended

June 30, 2025

Average

Tax Equivalent

Yield /

Balance

Interest

Rate

Interest-earning assets:

Federal funds sold

9,397

113

4.84

Interest-bearing demand deposits in nonaffiliated banks

379,364

4,191

4.43

Taxable securities

3,470,028

25,242

2.91

Tax-exempt securities

1,433,498

10,811

3.02

Loans

8,045,340

135,378

6.75

Total interest-earning assets

13,337,627

175,735

5.28

Noninterest-earning assets

826,635

Total assets

14,164,262

Interest-bearing liabilities:

Deposits

8,923,737

48,730

2.19

Repurchase Agreements

54,482

221

1.63

Borrowings

26,557

128

1.93

Total interest-bearing liabilities

9,004,776

49,079

2.19

Noninterest-bearing deposits

3,383,851

Other noninterest-bearing liabilities

85,745

Shareholders' equity

1,689,890

Total liabilities and shareholders' equity

14,164,262

Net interest income and margin (tax equivalent)

126,656

3.81

Six Months Ended

June 30, 2026

June 30, 2025

Average

Tax Equivalent

Yield /

Average

Tax Equivalent

Yield /

Balance

Interest

Rate

Balance

Interest

Rate

Interest-earning assets:

Federal funds sold

4,604

3.64

8,501

203

4.82

Interest-bearing deposits in nonaffiliated banks

397,115

7,283

3.70

332,960

7,365

4.46

Taxable securities

4,083,944

65,949

3.23

3,487,932

50,277

2.88

Tax exempt securities

1,718,190

28,319

3.30

1,420,541

20,723

2.92

Loans

8,296,026

274,861

6.68

7,999,398

266,977

6.73

Total interest-earning assets

14,499,879

376,495

5.24

13,249,332

345,545

5.26

Noninterest-earning assets

827,502

828,336

Total assets

15,327,381

14,077,668

Interest-bearing liabilities:

Deposits

9,750,203

96,548

2.00

8,903,004

96,280

2.18

Repurchase Agreements

61,619

452

1.48

54,203

430

1.60

Borrowings

25,324

200

1.59

50,426

690

2.76

Total interest-bearing liabilities

9,837,146

97,200

1.99

9,007,633

97,400

2.18

Noninterest-bearing deposits

3,423,184

3,325,170

Other noninterest-bearing liabilities

107,518

77,030

Shareholders' equity

1,959,533

1,667,835

Total liabilities and shareholders' equity

15,327,381

14,077,668

Net interest income and margin (tax equivalent)

279,295

3.88

248,145

3.78

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