First Financial Bankshares Announces Fourth Quarter Earnings Results And 26th Year Of Consecutive Earnings Growth
ABILENE, Texas, Jan. 24, 2013 /PRNewswire/ -- First Financial Bankshares, Inc. (NASDAQ: FFIN) today reported earnings for the fourth quarter of 2012 of $18.32 million, up 4.88 percent compared with earnings of $17.47 million in the same quarter last year. Basic earnings per share were $0.58 for the fourth quarter of 2012 compared with $0.56 in the same quarter a year ago.
Net interest income for the fourth quarter of 2012 increased 1.49 percent to $38.75 million compared with $38.18 million in the same period of 2011. The net interest margin, on a taxable equivalent basis, was 4.17 percent compared with 4.44 percent in the same quarter last year and 4.26 percent in the third quarter of this year.
The provision for loan losses was $642 thousand in the fourth quarter of 2012 compared with $1.22 million in the same quarter last year and $787 thousand in the third quarter of this year. Nonperforming assets as a percentage of loans and foreclosed assets totaled 1.22 percent at December 31, 2012, compared with 1.53 percent at September 30, 2012, and 1.64 percent at December 31, 2011. Classified loans totaled $67.14 million at December 31, 2012, compared to $76.48 million at September 30, 2012, and $87.31 million at December 31, 2011.
Noninterest income increased 16.85 percent in the fourth quarter of 2012 to $14.95 million compared with $12.79 million in the same quarter a year ago. Trust fees increased to $3.62 million in the fourth quarter of 2012 compared with $3.15 million in the same quarter last year, primarily due to continued growth in the fair value of Trust assets managed to $2.85 billion from $2.43 billion a year ago. ATM, interchange and credit card fees increased 11.55 percent to $3.96 million compared with $3.55 million in the same quarter last year. The net gain on securities sold during the fourth quarter of 2012 totaled $565 thousand compared to $164 thousand in the same quarter of 2011.
Noninterest expense increased in the fourth quarter of 2012 to $28.63 million from $26.26 million in the same quarter last year. The Company's efficiency ratio was 49.86 percent in the fourth quarter of 2012 compared with 48.33 percent in the same quarter last year. Included in noninterest expense for the fourth quarter of 2012 was $718 thousand related to the Company's consolidation of its charters and databases, which was discussed in a prior release.
For the year, net income increased 8.57 percent to $74.23 million from $68.37 million in 2011, making 2012 the 26th consecutive year of earnings increases for the Company. Basic earnings per share rose to $2.36 for the year from $2.17 in the previous year.
Net interest income increased 1.77 percent for the year to $154.68 million from $152.00 million a year ago. The provision for loan losses for 2012 totaled $3.48 million compared with $6.63 million in the previous year. Noninterest income was $57.21 million for the year compared with $51.44 million for the same period a year ago. Noninterest expense rose in 2012 to $109.05 million compared with $104.62 million in 2011.
As of December 31, 2012, consolidated assets for the Company totaled $4.50 billion compared with $4.12 billion a year ago. Loans grew 16.91 percent and totaled $2.09 billion at year end compared with loans of $1.79 billion a year ago. Total deposits were $3.63 billion as of December 31, 2012, which represents an 8.93 percent growth over $3.33 billion a year earlier. Shareholders' equity rose to $556.96 million as of December 31, 2012, compared with $508.54 million in the previous year.
"We are pleased to report to our shareholders another record breaking year, and the 26th year of increased earnings especially in light of a stagnant National economy and very low interest rates," said F. Scott Dueser, Chairman, President and CEO. "Our company experienced substantial internal growth in deposits and loans which could not have been achieved without the hard work and dedication of my associates and the support we receive from our shareholders and great customers."
About First Financial Bankshares
Headquartered in Abilene, Texas, First Financial Bankshares is a financial holding company that operates 11 banking regions with 55 locations in Texas including Abilene, Acton, Albany, Aledo, Alvarado, Boyd, Bridgeport, Brock, Burleson, Cisco, Cleburne, Clyde, Crowley, Decatur, Eastland, Fort Worth, Glen Rose, Granbury, Grapevine, Hereford, Huntsville, Keller, Merkel, Midlothian, Mineral Wells, Moran, Odessa, Ranger, Rising Star, Roby, San Angelo, Southlake, Stephenville, Sweetwater, Trent, Trophy Club, Waxahachie, Weatherford and Willow Park. The Company also operates First Financial Trust & Asset Management Company, N.A., with six 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) |
||||||||||||||||
Quarter Ended |
||||||||||||||||
2012 |
2011 |
|||||||||||||||
ASSETS: |
Dec. 31, |
Sept. 30, |
June 30, |
Mar. 31, |
Dec. 31, |
|||||||||||
Cash and due from banks |
$ |
207,018 |
$ |
128,606 |
$ |
122,534 |
$ |
131,163 |
$ |
146,239 |
||||||
Interest-bearing deposits in banks |
139,676 |
25,633 |
25,794 |
84,169 |
104,597 |
|||||||||||
Interest-bearing time deposits in banks |
49,005 |
67,506 |
74,594 |
62,018 |
61,175 |
|||||||||||
Fed funds sold |
14,045 |
23,400 |
10,100 |
11,200 |
- |
|||||||||||
Investment securities |
1,820,096 |
1,883,864 |
1,963,367 |
1,963,341 |
1,844,998 |
|||||||||||
Loans |
2,088,623 |
2,003,854 |
1,918,292 |
1,798,867 |
1,786,544 |
|||||||||||
Allowance for loan losses |
(34,839) |
(34,932) |
(34,747) |
(34,529) |
(34,315) |
|||||||||||
Net loans |
2,053,784 |
1,968,922 |
1,883,545 |
1,764,338 |
1,752,229 |
|||||||||||
Premises and equipment |
84,122 |
80,580 |
80,404 |
79,308 |
76,483 |
|||||||||||
Goodwill |
71,865 |
71,865 |
71,865 |
71,865 |
71,865 |
|||||||||||
Other intangible assets |
108 |
136 |
175 |
213 |
257 |
|||||||||||
Other assets |
62,293 |
60,035 |
59,426 |
59,635 |
62,688 |
|||||||||||
Total assets |
$ |
4,502,012 |
$ |
4,310,547 |
$ |
4,291,804 |
$ |
4,227,250 |
$ |
4,120,531 |
||||||
LIABILITIES AND SHAREHOLDERS' EQUITY: |
||||||||||||||||
Noninterest-bearing deposits |
$ |
1,311,708 |
$ |
1,200,154 |
$ |
1,156,238 |
$ |
1,125,577 |
$ |
1,101,576 |
||||||
Interest-bearing deposits |
2,320,876 |
2,244,244 |
2,235,942 |
2,272,495 |
2,233,222 |
|||||||||||
Total deposits |
3,632,584 |
3,444,398 |
3,392,180 |
3,398,072 |
3,334,798 |
|||||||||||
Short-term borrowings |
259,697 |
254,480 |
251,428 |
237,567 |
207,756 |
|||||||||||
Other liabilities |
52,768 |
61,757 |
113,933 |
74,606 |
69,440 |
|||||||||||
Shareholders' equity |
556,963 |
549,912 |
534,263 |
517,005 |
508,537 |
|||||||||||
Total liabilities and shareholders' equity |
$ |
4,502,012 |
$ |
4,310,547 |
$ |
4,291,804 |
$ |
4,227,250 |
$ |
4,120,531 |
||||||
Quarter Ended |
||||||||||||||||
2012 |
2011 |
|||||||||||||||
INCOME STATEMENTS |
Dec. 31, |
Sept. 30, |
June 30, |
Mar. 31, |
Dec. 31, |
|||||||||||
Interest income |
$ |
39,801 |
$ |
40,287 |
$ |
39,911 |
$ |
39,797 |
$ |
39,888 |
||||||
Interest expense |
1,049 |
1,168 |
1,355 |
1,540 |
1,704 |
|||||||||||
Net interest income |
38,752 |
39,119 |
38,556 |
38,257 |
38,184 |
|||||||||||
Provision for loan losses |
642 |
787 |
759 |
1,296 |
1,221 |
|||||||||||
Net interest income after provision for loan losses |
38,110 |
38,332 |
37,797 |
36,961 |
36,963 |
|||||||||||
Noninterest income |
14,948 |
15,499 |
13,464 |
13,298 |
12,792 |
|||||||||||
Noninterest expense |
28,633 |
27,203 |
26,745 |
26,468 |
26,257 |
|||||||||||
Net income before income taxes |
24,425 |
26,628 |
24,516 |
23,791 |
23,498 |
|||||||||||
Income tax expense |
6,107 |
6,828 |
6,165 |
6,035 |
6,032 |
|||||||||||
Net income |
$ |
18,318 |
$ |
19,800 |
$ |
18,351 |
$ |
17,756 |
$ |
17,466 |
||||||
PER COMMON SHARE DATA |
||||||||||||||||
Net income - basic |
$ |
0.58 |
$ |
0.63 |
$ |
0.58 |
$ |
0.56 |
$ |
0.56 |
||||||
Net income - diluted |
0.58 |
0.63 |
0.58 |
0.56 |
0.55 |
|||||||||||
Cash dividends declared |
0.25 |
0.25 |
0.25 |
0.24 |
0.24 |
|||||||||||
Shares outstanding - end of period |
31,496,881 |
31,488,530 |
31,481,747 |
31,477,483 |
31,459,635 |
|||||||||||
Average outstanding shares - basic |
31,490,402 |
31,484,375 |
31,478,980 |
31,466,706 |
31,454,197 |
|||||||||||
Average outstanding shares - diluted |
31,530,907 |
31,502,172 |
31,497,241 |
31,479,743 |
31,489,304 |
|||||||||||
PERFORMANCE RATIOS |
||||||||||||||||
Return on average assets |
1.68 |
% |
1.84 |
% |
1.75 |
% |
1.73 |
% |
1.74 |
% |
||||||
Return on average equity |
13.09 |
14.53 |
14.01 |
13.79 |
13.88 |
|||||||||||
Net interest margin (tax equivalent) |
4.17 |
4.26 |
4.33 |
4.39 |
4.44 |
|||||||||||
Efficiency ratio |
49.86 |
46.61 |
48.02 |
48.08 |
48.33 |
|||||||||||
Year Ended |
||||||||||||||||
Dec. 31, |
||||||||||||||||
INCOME STATEMENTS |
2012 |
2011 |
||||||||||||||
Interest income |
$ |
159,796 |
$ |
160,021 |
||||||||||||
Interest expense |
5,112 |
8,024 |
||||||||||||||
Net interest income |
154,684 |
151,997 |
||||||||||||||
Provision for loan losses |
3,484 |
6,626 |
||||||||||||||
Net interest income after provision for loan losses |
151,200 |
145,371 |
||||||||||||||
Noninterest income |
57,209 |
51,438 |
||||||||||||||
Noninterest expense |
109,049 |
104,624 |
||||||||||||||
Net income before income taxes |
99,360 |
92,185 |
||||||||||||||
Income tax expense |
25,135 |
23,816 |
||||||||||||||
Net income |
$ |
74,225 |
$ |
68,369 |
||||||||||||
PER COMMON SHARE DATA |
||||||||||||||||
Net income - basic |
$ |
2.36 |
$ |
2.17 |
||||||||||||
Net income - diluted |
2.36 |
2.17 |
||||||||||||||
Cash dividends declared |
0.99 |
0.95 |
||||||||||||||
Book value |
17.68 |
16.16 |
||||||||||||||
Market value |
39.01 |
33.43 |
||||||||||||||
Shares outstanding - end of period |
31,496,881 |
31,459,635 |
||||||||||||||
Average outstanding shares - basic |
31,480,155 |
31,443,712 |
||||||||||||||
Average outstanding shares - diluted |
31,501,267 |
31,461,964 |
||||||||||||||
PERFORMANCE RATIOS |
||||||||||||||||
Return on average assets |
1.75 |
% |
1.78 |
% |
||||||||||||
Return on average equity |
13.85 |
14.44 |
||||||||||||||
Net interest margin (tax equivalent) |
4.28 |
4.62 |
||||||||||||||
Efficiency ratio |
48.14 |
48.37 |
FIRST FINANCIAL BANKSHARES, INC. |
||||||||||||||||
SELECTED FINANCIAL DATA (UNAUDITED) |
||||||||||||||||
(In thousands) |
||||||||||||||||
Quarter Ended |
||||||||||||||||
2012 |
2011 |
|||||||||||||||
ALLOWANCE FOR LOAN LOSSES |
Dec. 31, |
Sept. 30, |
June 30, |
Mar. 31, |
Dec. 31, |
|||||||||||
Balance at beginning of period |
$ |
34,932 |
$ |
34,747 |
$ |
34,529 |
$ |
34,315 |
$ |
34,301 |
||||||
Loans charged off |
(1,119) |
(1,064) |
(766) |
(1,405) |
(2,195) |
|||||||||||
Loan recoveries |
384 |
462 |
225 |
323 |
988 |
|||||||||||
Net charge-offs |
(735) |
(602) |
(541) |
(1,082) |
(1,207) |
|||||||||||
Provision for loan losses |
642 |
787 |
759 |
1,296 |
1,221 |
|||||||||||
Balance at end of period |
$ |
34,839 |
$ |
34,932 |
$ |
34,747 |
$ |
34,529 |
$ |
34,315 |
||||||
Allowance for loan losses / period-end loans |
1.67 |
% |
1.74 |
% |
1.81 |
% |
1.92 |
% |
1.92 |
% |
||||||
Allowance for loan losses / nonperforming loans |
159.1 |
143.4 |
130.1 |
164.3 |
171.0 |
|||||||||||
Net charge-offs / average loans (annualized) |
0.14 |
0.12 |
0.12 |
0.24 |
0.27 |
|||||||||||
NONPERFORMING ASSETS |
||||||||||||||||
Nonaccrual loans |
$ |
21,800 |
$ |
24,283 |
$ |
26,606 |
$ |
20,963 |
$ |
19,975 |
||||||
Accruing loans 90 days past due |
97 |
69 |
105 |
53 |
96 |
|||||||||||
Total nonperforming loans |
21,897 |
24,352 |
26,711 |
21,016 |
20,071 |
|||||||||||
Foreclosed assets |
3,565 |
6,373 |
7,149 |
7,852 |
9,464 |
|||||||||||
Total nonperforming assets |
$ |
25,462 |
$ |
30,725 |
$ |
33,860 |
$ |
28,868 |
$ |
29,535 |
||||||
As a % of loans and foreclosed assets |
1.22 |
% |
1.53 |
% |
1.76 |
% |
1.60 |
% |
1.64 |
% |
||||||
As a % of end of period total assets |
0.57 |
0.71 |
0.79 |
0.68 |
0.72 |
|||||||||||
CAPITAL RATIOS |
||||||||||||||||
Tier 1 risk-based |
17.43 |
% |
17.66 |
% |
17.23 |
% |
17.73 |
% |
17.49 |
% |
||||||
Total risk-based |
18.68 |
18.92 |
18.48 |
18.99 |
18.74 |
|||||||||||
Tier 1 leverage |
10.60 |
10.49 |
10.36 |
10.31 |
10.33 |
|||||||||||
Equity to assets |
12.37 |
12.76 |
12.45 |
12.23 |
12.34 |
|||||||||||
Quarter Ended |
||||||||||||||||
2012 |
2011 |
|||||||||||||||
NONINTEREST INCOME |
Dec. 31, |
Sept. 30, |
June 30, |
Mar. 31, |
Dec. 31, |
|||||||||||
Trust fees |
$ |
3,616 |
$ |
3,723 |
$ |
3,670 |
$ |
3,454 |
$ |
3,151 |
||||||
Service charges on deposits |
4,432 |
4,337 |
4,042 |
3,882 |
4,313 |
|||||||||||
ATM, interchange and credit card fees |
3,961 |
3,767 |
3,784 |
3,676 |
3,551 |
|||||||||||
Real estate mortgage fees |
1,331 |
1,495 |
1,218 |
1,050 |
1,013 |
|||||||||||
Net gain on sale of available-for-sale securities |
565 |
1,479 |
382 |
346 |
164 |
|||||||||||
Net gain (loss) on sale of foreclosed assets |
162 |
(106) |
(404) |
6 |
(159) |
|||||||||||
Net gain (loss) on sale of assets |
5 |
(32) |
105 |
122 |
43 |
|||||||||||
Other noninterest income |
876 |
836 |
667 |
762 |
716 |
|||||||||||
Total noninterest income |
$ |
14,948 |
$ |
15,499 |
$ |
13,464 |
$ |
13,298 |
$ |
12,792 |
||||||
NONINTEREST EXPENSE |
||||||||||||||||
Salaries and employee benefits, excluding profit sharing |
$ |
13,565 |
$ |
13,502 |
$ |
13,304 |
$ |
13,186 |
$ |
12,753 |
||||||
Profit sharing expense |
1,441 |
1,343 |
885 |
1,043 |
1,153 |
|||||||||||
Net occupancy expense |
1,790 |
1,806 |
1,743 |
1,737 |
1,707 |
|||||||||||
Equipment expense |
2,269 |
2,269 |
2,144 |
2,108 |
2,008 |
|||||||||||
FDIC insurance premiums |
565 |
563 |
565 |
527 |
517 |
|||||||||||
ATM, interchange and credit card expenses |
1,432 |
1,317 |
1,450 |
1,249 |
1,311 |
|||||||||||
Legal, tax and professional fees |
1,162 |
1,019 |
968 |
1,033 |
994 |
|||||||||||
Audit fees |
323 |
311 |
283 |
295 |
304 |
|||||||||||
Printing, stationery and supplies |
487 |
468 |
511 |
505 |
473 |
|||||||||||
Amortization of intangible assets |
28 |
38 |
38 |
44 |
84 |
|||||||||||
Advertising and public relations |
1,085 |
998 |
953 |
942 |
1,105 |
|||||||||||
Correspondent bank service charges |
220 |
220 |
216 |
200 |
198 |
|||||||||||
Other noninterest expense |
4,266 |
3,349 |
3,685 |
3,599 |
3,650 |
|||||||||||
Total noninterest expense |
$ |
28,633 |
$ |
27,203 |
$ |
26,745 |
$ |
26,468 |
$ |
26,257 |
||||||
TAX EQUIVALENT YIELD ADJUSTMENT |
$ |
3,727 |
$ |
3,743 |
$ |
3,673 |
$ |
3,495 |
$ |
3,348 |
||||||
Year Ended |
||||||||||||||||
Dec. 31, |
||||||||||||||||
NONINTEREST INCOME |
2012 |
2011 |
||||||||||||||
Trust fees |
$ |
14,464 |
$ |
12,671 |
||||||||||||
Service charges on deposits |
16,693 |
17,689 |
||||||||||||||
ATM, interchange and credit card fees |
15,187 |
13,587 |
||||||||||||||
Real estate mortgage fees |
5,094 |
3,943 |
||||||||||||||
Net gain on sale of available-for-sale securities |
2,772 |
492 |
||||||||||||||
Net gain (loss) on sale of foreclosed assets |
(350) |
(1,315) |
||||||||||||||
Net gain (loss) on sale of assets |
207 |
897 |
||||||||||||||
Other noninterest income |
3,142 |
3,474 |
||||||||||||||
Total noninterest income |
$ |
57,209 |
$ |
51,438 |
||||||||||||
NONINTEREST EXPENSE |
||||||||||||||||
Salaries and employee benefits, excluding profit sharing |
$ |
53,558 |
$ |
51,568 |
||||||||||||
Profit sharing expense |
4,711 |
4,688 |
||||||||||||||
Net occupancy expense |
7,076 |
6,862 |
||||||||||||||
Equipment expense |
8,790 |
7,800 |
||||||||||||||
FDIC insurance premiums |
2,220 |
2,646 |
||||||||||||||
ATM, interchange and credit card expenses |
5,448 |
4,918 |
||||||||||||||
Legal, tax and professional fees |
4,182 |
4,212 |
||||||||||||||
Audit fees |
1,211 |
1,158 |
||||||||||||||
Printing, stationery and supplies |
1,970 |
1,831 |
||||||||||||||
Amortization of intangible assets |
149 |
402 |
||||||||||||||
Advertising and public relations |
3,977 |
3,817 |
||||||||||||||
Correspondent bank service charges |
856 |
804 |
||||||||||||||
Other noninterest expense |
14,901 |
13,918 |
||||||||||||||
Total noninterest expense |
$ |
109,049 |
$ |
104,624 |
||||||||||||
TAX EQUIVALENT YIELD ADJUSTMENT |
$ |
14,637 |
$ |
12,851 |
FIRST FINANCIAL BANKSHARES, INC. |
||||||||||||||||
SELECTED FINANCIAL DATA (UNAUDITED) |
||||||||||||||||
(In thousands) |
||||||||||||||||
Three Months Ended |
||||||||||||||||
Dec. 31, 2012 |
||||||||||||||||
Average |
Tax Equivalent |
Yield / |
||||||||||||||
Balance |
Interest |
Rate |
||||||||||||||
Interest-earning assets: |
||||||||||||||||
Fed funds sold |
$ |
15,519 |
$ |
- |
- |
% |
||||||||||
Interest-bearing deposits in nonaffiliated banks |
133,782 |
130 |
0.39 |
% |
||||||||||||
Taxable securities |
1,056,945 |
6,821 |
2.58 |
% |
||||||||||||
Tax exempt securities |
807,844 |
9,900 |
4.90 |
% |
||||||||||||
Loans |
2,035,158 |
26,677 |
5.21 |
% |
||||||||||||
Total interest-earning assets |
4,049,248 |
43,528 |
4.28 |
% |
||||||||||||
Noninterest-earning assets |
296,905 |
|||||||||||||||
Total assets |
$ |
4,346,153 |
||||||||||||||
Interest-bearing liabilities: |
||||||||||||||||
Deposits |
$ |
2,267,207 |
$ |
990 |
0.17 |
% |
||||||||||
Fed funds purchased and other short term borrowings |
267,669 |
59 |
0.09 |
% |
||||||||||||
Total interest-bearing liabilities |
2,534,876 |
1,049 |
0.16 |
% |
||||||||||||
Noninterest-bearing liabilities |
1,254,694 |
|||||||||||||||
Shareholders' equity |
556,583 |
|||||||||||||||
Total liabilities and shareholders' equity |
$ |
4,346,153 |
||||||||||||||
Net interest income and margin (tax equivalent) |
$ |
42,479 |
4.17 |
% |
||||||||||||
Year Ended |
||||||||||||||||
Dec. 31, 2012 |
||||||||||||||||
Average |
Tax Equivalent |
Yield / |
||||||||||||||
Balance |
Interest |
Rate |
||||||||||||||
Interest-earning assets: |
||||||||||||||||
Fed funds sold |
$ |
11,589 |
$ |
6 |
0.05 |
% |
||||||||||
Interest-bearing deposits in nonaffiliated banks |
122,999 |
748 |
0.61 |
% |
||||||||||||
Taxable securities |
1,144,763 |
31,318 |
2.74 |
% |
||||||||||||
Tax exempt securities |
762,754 |
39,049 |
5.12 |
% |
||||||||||||
Loans |
1,909,890 |
103,312 |
5.41 |
% |
||||||||||||
Total interest-earning assets |
3,951,995 |
174,433 |
4.41 |
% |
||||||||||||
Noninterest-earning assets |
285,922 |
|||||||||||||||
Total assets |
$ |
4,237,917 |
||||||||||||||
Interest-bearing liabilities: |
||||||||||||||||
Deposits |
$ |
2,255,239 |
$ |
4,877 |
0.22 |
% |
||||||||||
Fed funds purchased and other short term borrowings |
258,863 |
235 |
0.09 |
% |
||||||||||||
Total interest-bearing liabilities |
2,514,102 |
5,112 |
0.20 |
% |
||||||||||||
Noninterest-bearing liabilities |
1,187,883 |
|||||||||||||||
Shareholders' equity |
535,932 |
|||||||||||||||
Total liabilities and shareholders' equity |
$ |
4,237,917 |
||||||||||||||
Net interest income and margin (tax equivalent) |
$ |
169,321 |
4.28 |
% |
SOURCE First Financial Bankshares, Inc.
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