First Financial Bankshares Announces Second Quarter 2017 Earnings Results

FREE Breaking News Alerts from StreetInsider.com!

E-mail Address

StreetInsider.com Top Tickers, 9/2/2026

1. PANW
2. GTLB
3. DELL
4. MDB
5. GOOGL
6. VRTS
7. SPY
8. HPE
9. USO
10. SNOW

July 20, 2017 4:05 PM EDT

ABILENE, Texas, July 20, 2017 /PRNewswire/ -- First Financial Bankshares, Inc. (NASDAQ: FFIN) today reported earnings for the second quarter of 2017 of $28.26 million, up 5.39 percent when compared with earnings of $26.81 million in the same quarter last year.  Basic earnings per share were $0.43 for the second quarter of 2017 compared with $0.41 in the same quarter a year ago.

Net interest income for the second quarter of 2017 increased 4.48 percent to $59.09 million compared with $56.55 million in the same quarter of 2016. The net interest margin, on a taxable equivalent basis, was 4.05 percent in the second quarter of 2017 compared to 4.03 percent in the first quarter of 2017 and 4.12 percent in the second quarter of 2016. Included in interest income for the second quarter of 2017 was $505 thousand, or three basis points in net interest margin, related to discount accretion from fair value accounting related to the Conroe and Orange acquisitions.  

The provision for loan losses was $1.73 million in the second quarter of 2017 compared with $1.95 million in the first quarter of 2017 and $2.06 million in the second quarter of 2016. The continued provision for loan losses in 2017 reflects growth in the loan portfolio, the continued levels of gross charge-offs, as well as the continuing economic effects related to the oil and gas industry. Nonperforming assets as a percentage of loans and foreclosed assets totaled 0.71 percent at June 30, 2017, compared with 0.90 percent at March 31, 2017, and 1.22 percent at June 30, 2016. Classified loans totaled $117.61 million at June 30, 2017, compared to $122.62 million at March 31, 2017, and $132.67 million at June 30, 2016.

At June 30, 2017, loans with oil and gas industry exposure totaled 2.03% of gross loans. These loans comprised $24.40 million of the classified loan totals and $2.86 million of the nonperforming loan totals. In addition, $50 thousand in net charge-offs was related to these oil and gas loans for the quarter ended June 30, 2017. At June 30, 2017, the Company's allowance for loan loss reserve specific to its total oil and gas loan portfolio totaled 7.24% of total oil and gas loans.

Noninterest income increased 8.08 percent in the second quarter of 2017 to $23.17 million compared with $21.44 million in the same quarter a year ago. Trust fees increased $1.02 million to $5.75 million in the second quarter of 2017 compared with $4.73 million in the same quarter last year, primarily due to continued growth in the fair value of Trust assets managed to $4.73 billion from $4.11 billion a year ago. ATM, interchange and credit card fees increased 12.98 percent to $6.60 million compared with $5.84 million in the same quarter last year due to continued growth in debit cards. Service charges on deposits increased 10.88 percent to $4.88 million compared with $4.40 million in the same quarter a year ago due to continued growth in net new accounts. Also included in noninterest income during the second quarter of 2017 was a gain on sale of securities of $747 thousand compared to $912 thousand in the same quarter a year ago. Offsetting these increases in noninterest income were decreases in loan recoveries to $337 thousand in the second quarter of 2017 compared to $629 thousand in the same quarter a year ago and a loss on sale of foreclosed assets of $72 thousand in the second quarter of 2017 compared to a gain of $278 thousand in the second quarter of 2016.

Noninterest expense for the second quarter of 2017 totaled $43.78 million compared to $40.76 million in the second quarter of 2016. The Company's efficiency ratio in the second quarter of 2017 was 49.32 percent compared with 48.43 percent in the same quarter last year. The increase in noninterest expense in the second quarter of 2017 was driven by a $1.32 million increase in salary and employee benefit expense, primarily due to merit based pay increases and profit sharing expenses, and an increase of $824 thousand in data processing costs associated with a new Trust technology platform and software amortization and expense resulting from a write-off of internally developed software.

For the first half of 2017, net income increased 4.47 percent to $54.85 million from $52.51 million for the same period a year ago. Basic earnings per share rose to $0.83 in the first half of 2017 from $0.80 in the same period of 2016. Net interest income increased 2.23 percent to $116.11 million in the first half of 2017 from $113.57 million in the same period a year ago. The provision for loan losses totaled $3.68 million compared with $4.39 million in the first half of the previous year. Noninterest income was $44.46 million in the first half of 2017 compared with $41.26 million in the same period of 2016. Noninterest expense rose to $85.93 million in the first half of 2017 compared with $81.84 million during the same period last year.

As of June 30, 2017, consolidated assets for the Company totaled $6.95 billion compared to $6.93 billion at March 31, 2017, and $6.61 billion at June 30, 2016. Loans totaled $3.46 billion at June 30, 2017, compared with loans of $3.39 billion at March 31, 2017, and $3.31 billion at June 30, 2016. Deposits totaled $5.63 billion at June 30, 2017, compared to $5.66 billion at March 31, 2017, and $5.06 billion at June 30, 2016. Shareholders' equity rose to $887.44 million as of June 30, 2017, compared with $859.35 million at March 31, 2017, and $866.16 million at June 30, 2016. 

"We are pleased to report increased earnings for the quarter and improved trends in our credit metrics," said F. Scott Dueser, Chairman, President and CEO. "We continue to work diligently to grow loans and deposits, reduce expenses to improve our bottom line while continuing to look for acquisition opportunities to better utilize our strong capital position and increase our return to our shareholders."

About First Financial Bankshares

Headquartered in Abilene, Texas, First Financial Bankshares is a financial holding company that through its subsidiary, First Financial Bank, N.A., operates multiple banking regions with 69 locations in Texas including Abilene, Acton, Albany, Aledo, Alvarado, Beaumont, Boyd, Bridgeport, Brock, Burleson, Cisco, Cleburne, Clyde, Conroe, Cut and Shoot, Decatur, Eastland, Fort Worth, Glen Rose, Granbury, Grapevine, Hereford, Huntsville, Keller, Magnolia, Mauriceville, Merkel, Midlothian, Mineral Wells, Montgomery, Moran, New Waverly, Newton, Odessa, Orange, Port Arthur, Ranger, Rising  Star,  Roby,  San  Angelo,  Southlake,  Stephenville,  Sweetwater, Tomball, Trent,  Trophy Club, Vidor, Waxahachie, Weatherford, Willis, and Willow Park. The Company also operates First Financial Trust & Asset Management Company, N.A., with seven 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 Bankshares, please visit our website at http://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" 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; 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/Filings" on the Company's Web site 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

2017

2016

ASSETS

June 30, 

Mar. 31, 

 Dec. 31,  

 Sept. 30,  

June 30, 

Cash and due from banks

$

163,435

$

163,674

$

204,782

$

166,981

$

135,092

Interest-bearing deposits in banks

53,336

55,165

48,574

117,334

67,746

Interest-bearing time deposits in banks

1,458

1,707

1,707

1,707

2,427

Fed funds sold

3,740

3,840

3,130

3,400

2,960

Investment securities

2,964,618

3,018,393

2,860,958

2,729,159

2,795,493

Loans

3,457,679

3,386,141

3,384,205

3,369,384

3,309,388

Allowance for loan losses

(47,410)

(46,192)

(45,779)

(45,298)

(45,060)

Net loans

3,410,269

3,339,949

3,338,426

3,324,086

3,264,328

Premises and equipment

123,620

122,787

122,685

122,725

122,326

Goodwill

139,971

139,971

139,971

139,971

139,971

Other intangible assets

3,149

3,464

3,632

3,758

3,959

Other assets

83,796

81,420

86,066

77,615

80,688

Total assets

$

6,947,392

$

6,930,370

$

6,809,931

$

6,686,736

$

6,614,990

LIABILITIES AND SHAREHOLDERS'  EQUITY

Noninterest-bearing deposits

$

1,856,439

$

1,827,609

$

1,717,722

$

1,702,993

$

1,644,812

Interest-bearing deposits

3,770,170

3,834,359

3,760,817

3,532,471

3,411,477

Total deposits

5,626,609

5,661,968

5,478,539

5,235,464

5,056,289

Borrowings

379,324

360,264

445,770

513,759

556,924

Other liabilities

54,017

48,784

47,737

69,569

135,619

Shareholders' equity

887,442

859,354

837,885

867,944

866,158

Total liabilities and shareholders' equity

$

6,947,392

$

6,930,370

$

6,809,931

$

6,686,736

$

6,614,990

Quarter Ended

2017

2016

INCOME STATEMENTS

 June 30,  

Mar. 31, 

 Dec 31,  

 Sept. 30,  

 June 30,  

Interest income

$

61,182

$

58,783

$

57,979

$

58,093

$

57,881

Interest expense

2,097

1,763

1,443

1,366

1,330

Net interest income

59,085

57,020

56,536

56,727

56,551

Provision for loan losses

1,725

1,950

1,993

3,833

2,058

Net interest income after provision for loan losses

57,360

55,070

54,543

52,894

54,493

Noninterest income

23,170

21,286

21,721

22,152

21,438

Noninterest expense

43,775

42,152

41,990

42,003

40,756

Net income before income taxes

36,755

34,204

34,274

33,043

35,175

Income tax expense

8,500

7,605

7,608

7,440

8,366

Net income

$

28,255

$

26,599

$

26,666

$

25,603

$

26,809

PER COMMON SHARE DATA 

Net income - basic

$

0.43

$

0.40

$

0.40

$

0.39

$

0.41

Net income - diluted

0.43

0.40

0.40

0.39

0.41

Cash dividends declared

0.19

0.18

0.18

0.18

0.18

Book Value

13.41

12.99

12.68

13.14

13.11

Market Value

$

44.20

$

40.10

$

45.20

$

36.44

$

32.79

Shares outstanding - end of period

66,170,312

66,131,832

66,094,695

66,063,285

66,059,912

Average outstanding shares - basic

66,100,089

66,073,399

66,037,447

66,023,069

66,016,562

Average outstanding shares - diluted

66,344,943

66,363,222

66,307,119

66,147,202

66,138,275

PERFORMANCE RATIOS

Return on average assets

1.64

%

1.57

%

1.59

%

1.54

%

1.65

%

Return on average equity

12.94

12.74

12.44

11.72

12.76

Net interest margin (tax equivalent)

4.05

4.03

4.01

4.04

4.12

Efficiency ratio

49.32

49.67

49.61

49.33

48.43

Six Months Ended

June 30,

INCOME STATEMENTS

2017

2016

Interest income

$

119,965

$

116,216

Interest expense

3,860

2,642

Net interest income

116,105

113,574

Provision for loan losses

3,675

4,386

Net interest income after provision for loan losses

112,430

109,188

Noninterest income

44,455

41,258

Noninterest expense

85,926

81,836

Net income before income taxes

70,959

68,610

Income tax expense

16,105

16,105

Net income

$

54,854

$

52,505

PER COMMON SHARE DATA 

Net income - basic

$

0.83

$

0.80

Net income - diluted

0.83

0.79

Cash dividends declared

0.37

0.34

Book Value

13.41

13.11

Market Value

$

44.20

$

32.79

Shares outstanding - end of period

66,170,312

66,059,912

Average outstanding shares - basic

66,086,817

65,995,560

Average outstanding shares - diluted

66,362,191

66,153,579

PERFORMANCE RATIOS

Return on average assets

1.61

%

1.61

%

Return on average equity

12.84

12.65

Net interest margin (tax equivalent)

4.04

4.14

Efficiency ratio

49.49

48.97

 

FIRST FINANCIAL BANKSHARES, INC.

SELECTED FINANCIAL DATA (UNAUDITED)

(In thousands)

Quarter Ended

2017

2016

ALLOWANCE FOR LOAN LOSSES

June 30, 

Mar. 31, 

Dec. 31, 

 Sept. 30,  

June 30, 

Balance at beginning of period

$

46,192

$

45,779

$

45,298

$

45,060

$

44,072

Loans charged off

(1,174)

(2,026)

(1,774)

(4,372)

(1,888)

Loan recoveries

667

489

262

777

818

Net recoveries (charge-offs)

(507)

(1,537)

(1,512)

(3,595)

(1,070)

Provision for loan losses

1,725

1,950

1,993

3,833

2,058

Balance at end of period

$

47,410

$

46,192

$

45,779

$

45,298

$

45,060

Allowance for loan losses / period-end loans

1.37

%

1.36

%

1.35

%

1.34

%

1.36

%

Allowance for loan losses / nonperforming loans

210.95

159.48

161.44

131.04

112.36

Net charge-offs / average loans (annualized)

0.06

0.18

0.18

0.43

0.13

SUMMARY OF LOAN CLASSIFICATION

Special Mention

$

27,999

$

23,341

$

24,787

$

25,488

$

26,125

Substandard

89,609

99,280

103,015

101,110

106,540

Doubtful

-

-

-

2

-

Total classified loans

$

117,608

$

122,621

$

127,802

$

126,600

$

132,665

NONPERFORMING ASSETS

Nonaccrual loans

$

21,489

$

28,080

$

27,371

$

33,712

$

38,904

Accruing troubled debt restructured loans

672

695

701

750

961

Accruing loans 90 days past due

314

190

284

107

237

Total nonperforming loans

22,475

28,965

28,356

34,569

40,102

Foreclosed assets

2,245

1,553

644

369

285

Total nonperforming assets

$

24,720

$

30,518

$

29,000

$

34,938

$

40,387

As a % of loans and foreclosed assets

0.71

%

0.90

%

0.86

%

1.04

%

1.22

%

As a % of end of period total assets

0.36

0.44

0.43

0.52

0.61

OIL AND GAS PORTFOLIO INFORMATION

Oil and gas loans

$

70,187

$

75,262

$

78,483

$

86,785

$

87,857

Oil and gas loans as a % of total loans

2.03

%

2.22

%

2.32

%

2.58

%

2.65

%

Classified oil and gas loans

24,404

29,077

32,518

31,541

32,674

Nonaccrual oil and gas loans

2,860

3,208

4,092

5,140

5,763

Net charge-offs for oil and gas loans

50

-

105

104

419

Allowance for oil and gas loans as a % of oil and gas loans

7.24

%

6.59

%

6.28

%

5.60

%

6.57

%

CAPITAL RATIOS

Common equity Tier 1 capital ratio

17.79

%

17.56

%

17.30

%

17.11

%

16.64

%

Tier 1 capital ratio

17.79

17.56

17.30

17.11

16.64

Total capital ratio

18.97

18.72

18.45

18.28

17.79

Tier 1 leverage

10.79

10.60

10.71

10.60

10.50

Equity to assets

12.77

12.40

12.30

12.98

13.09

Quarter Ended

2017

2016

NONINTEREST INCOME

 June 30,  

Mar. 31, 

Dec. 31, 

 Sept. 30,  

 June 30,  

Trust fees

$

5,747

$

6,017

$

5,189

$

5,066

$

4,726

Service charges on deposits

4,883

4,550

4,773

4,796

4,404

ATM, interchange and credit card fees

6,598

6,164

6,390

6,000

5,840

Real estate mortgage fees

4,188

3,417

4,237

4,697

4,013

Net gain on sale of available-for-sale securities

747

3

117

239

912

Net gain (loss) on sale of foreclosed assets

(72)

41

112

(10)

278

Net gain (loss) on sale of assets

(200)

4

(103)

(168)

(74)

Interest on loan recoveries

337

154

141

709

629

Other noninterest income

942

936

865

823

710

Total noninterest income

$

23,170

$

21,286

$

21,721

$

22,152

$

21,438

NONINTEREST EXPENSE

Salaries and employee benefits, excluding profit sharing

$

22,508

$

22,233

$

21,742

$

22,193

$

22,038

Profit sharing expense

957

1,026

1,329

738

109

Loss from partial settlement of pension plan

-

-

267

-

-

Net occupancy expense

2,771

2,600

2,534

2,672

2,583

Equipment expense

3,665

3,437

3,293

3,420

3,386

FDIC insurance premiums

550

547

525

513

818

ATM, interchange and credit card expenses

1,803

1,713

1,879

1,859

1,806

Legal, tax and professional fees

2,526

2,478

2,386

2,389

2,108

Audit  fees

379

419

331

413

400

Printing, stationery and supplies

536

438

590

536

464

Amortization of intangible assets

165

168

168

172

199

Advertising and public relations

1,576

1,544

1,574

1,729

1,537

Operational and other losses

574

985

717

533

433

Software amortization and expense

995

500

525

490

477

Other noninterest expense

4,770

4,064

4,130

4,346

4,398

Total noninterest expense

$

43,775

$

42,152

$

41,990

$

42,003

$

40,756

TAX EQUIVALENT YIELD ADJUSTMENT

$

6,509

$

6,550

$

6,391

$

6,271

$

6,168

Six Months Ended

June 30,

NONINTEREST INCOME

2017

2016

Trust fees

$

11,764

$

9,380

Service charges on deposits

9,433

8,818

ATM, interchange and credit card fees

12,762

11,521

Real estate mortgage fees

7,605

7,153

Net gain (loss) on sale of available-for-sale securities

750

914

Net gain (loss) on sale of foreclosed assets

(31)

353

Net gain (loss) on sale of assets

(196)

439

Interest on loan recoveries

491

1,261

Other noninterest income

1,877

1,419

Total noninterest income

$

44,455

$

41,258

NONINTEREST EXPENSE

Salaries and employee benefits, excluding profit sharing

$

44,741

$

43,583

Profit sharing expense

1,983

1,154

Net occupancy expense

5,370

5,214

Equipment expense

7,102

6,766

FDIC insurance premiums

1,097

1,642

ATM, interchange and credit card expenses

3,516

3,492

Legal, tax and professional fees

5,004

4,318

Audit  fees

798

850

Printing, stationery and supplies

974

967

Amortization of intangible assets

333

398

Advertising and public relations

3,119

2,982

Operational and other losses

1,559

920

Software amortization and expense

1,495

991

Other noninterest expense

8,835

8,559

Total noninterest expense

$

85,926

$

81,836

TAX EQUIVALENT YIELD ADJUSTMENT

$

13,058

$

12,284

 

FIRST FINANCIAL BANKSHARES, INC.

SELECTED FINANCIAL DATA (UNAUDITED)

(In thousands)

Three Months Ended

Three Months Ended

June 30, 2017

Mar. 31, 2017

Average

Tax Equivalent

Yield /

Average

Tax Equivalent

Yield /

Balance

Interest

Rate

Balance

Interest

Rate

Interest-earning assets:

  Fed funds sold

$

5,229

$

8

0.64

%

$

3,529

$

2

0.23

%

  Interest-bearing deposits in nonaffiliated banks

45,043

112

1.00

134,556

274

0.83

  Taxable securities

1,494,187

8,343

2.23

1,367,331

7,431

2.17

  Tax exempt securities

1,528,760

17,414

4.56

1,529,610

17,561

4.59

  Loans

3,418,105

41,814

4.91

3,369,599

40,065

4.82

Total interest-earning assets

6,491,324

$

67,691

4.18

%

6,404,625

$

65,333

4.14

%

Noninterest-earning assets

428,245

446,961

Total assets

$

6,919,569

$

6,851,586

Interest-bearing liabilities:

  Deposits

$

3,803,412

$

1,930

0.20

%

$

3,808,933

$

1,590

0.17

%

  Fed funds purchased and other borrowings

372,910

167

0.18

448,217

173

0.16

Total interest-bearing liabilities

4,176,322

$

2,097

0.20

%

4,257,150

$

1,763

0.17

%

Noninterest-bearing liabilities

1,867,596

1,747,532

Shareholders' equity

875,651

846,904

Total liabilities and shareholders' equity

$

6,919,569

$

6,851,586

Net interest income and margin (tax equivalent)

$

65,594

4.05

%

$

63,570

4.03

%

Three Months Ended

Three Months Ended

Dec. 31, 2016

Sept. 30, 2016

Average

Tax Equivalent

Yield /

Average

Tax Equivalent

Yield /

Balance

Interest

Rate

Balance

Interest

Rate

Interest-earning assets:

  Fed funds sold

$

4,703

$

5

0.42

%

$

4,596

$

4

0.33

%

  Interest-bearing deposits in nonaffiliated banks

85,907

116

0.54

69,285

95

0.55

  Taxable securities

1,281,717

6,459

2.02

1,305,103

6,775

2.08

  Tax exempt securities

1,489,463

16,958

4.55

1,478,719

16,541

4.47

  Loans

3,374,652

40,831

4.81

3,349,458

40,948

4.86

Total interest-earning assets

6,236,442

$

64,369

4.11

%

6,207,161

$

64,363

4.13

%

Noninterest-earning assets

434,629

428,239

Total assets

$

6,671,071

$

6,635,400

Interest-bearing liabilities:

  Deposits

$

3,580,489

$

1,305

0.14

%

$

3,460,208

$

1,111

0.13

%

  Fed funds purchased and other borrowings

488,240

137

0.11

569,883

254

0.18

Total interest-bearing liabilities

4,068,729

$

1,442

0.14

%

4,030,091

$

1,365

0.13

%

Noninterest-bearing liabilities

1,749,320

1,736,071

Shareholders' equity

853,022

869,238

Total liabilities and shareholders' equity

$

6,671,071

$

6,635,400

Net interest income and margin (tax equivalent)

$

62,927

4.01

%

$

62,998

4.04

%

Three Months Ended

June 30, 2016

Average

Tax Equivalent

Yield /

Balance

Interest

Rate

Interest-earning assets:

  Fed funds sold

$

5,701

$

6

0.44

%

  Interest-bearing deposits in nonaffiliated banks

37,159

57

0.61

  Taxable securities

1,349,325

7,130

2.11

  Tax exempt securities

1,439,575

16,446

4.57

  Loans

3,295,557

40,410

4.93

Total interest-earning assets

6,127,317

$

64,049

4.20

%

Noninterest-earning assets

416,414

Total assets

$

6,543,731

Interest-bearing liabilities:

  Deposits

$

3,388,572

$

1,033

0.12

%

  Fed funds purchased and other borrowings

587,981

297

0.20

Total interest-bearing liabilities

3,976,553

$

1,330

0.14

%

Noninterest-bearing liabilities

1,722,037

Shareholders' equity

845,141

Total liabilities and shareholders' equity

$

6,543,731

Net interest income and margin (tax equivalent)

$

62,719

4.12

%

Six Months Ended

Six Months Ended

June 30, 2017

June 30, 2016

Average

Tax Equivalent

Yield /

Average

Tax Equivalent

Yield /

Balance

Interest

Rate

Balance

Interest

Rate

Interest-earning assets:

  Fed funds sold

$

4,384

$

11

0.50

%

$

6,618

$

16

0.48

%

  Interest-bearing deposits in nonaffiliated banks

89,552

386

0.87

38,699

108

0.56

  Taxable securities

1,431,110

15,774

2.20

1,336,466

14,392

2.15

  Tax exempt securities

1,529,183

34,975

4.57

1,433,877

32,772

4.57

  Loans

3,393,986

81,877

4.86

3,304,111

81,212

4.94

Total interest-earning assets

6,448,215

$

133,023

4.16

%

6,119,771

$

128,500

4.22

%

Noninterest-earning assets

437,550

424,636

Total assets

$

6,885,765

$

6,544,407

Interest-bearing liabilities:

  Deposits

$

3,806,157

$

3,520

0.19

%

$

3,417,096

$

2,085

0.12

%

  Fed funds purchased and other short term borrowings

410,355

340

0.17

575,275

557

0.19

Total interest-bearing liabilities

4,216,512

$

3,860

0.18

%

3,992,371

$

2,642

0.14

%

Noninterest-bearing liabilities

1,807,896

1,717,581

Shareholders' equity

861,357

834,455

Total liabilities and shareholders' equity

$

6,885,765

$

6,544,407

Net interest income and margin (tax equivalent)

$

129,163

4.04

%

$

125,858

4.14

%

 

View original content:http://www.prnewswire.com/news-releases/first-financial-bankshares-announces-second-quarter-2017-earnings-results-300491711.html

SOURCE First Financial Bankshares, Inc.


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Press Releases

Related Entities

Dividend, FDIC, Earnings, Definitive Agreement