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 2025 EARNINGS

ABILENE, Texas, July 17, 2025 - First Financial Bankshares, Inc. (the “Company,” “we,” “us” or “our”) (NASDAQ: FFIN) today reported earnings of $66.66 million for the second quarter of 2025 compared to earnings of $52.49 million for the same quarter a year ago and $61.35 million for the quarter ended March 31, 2025. Basic and diluted earnings per share were $0.47 for the second quarter of 2025 compared with $0.37 for the second quarter of 2024 and $0.43 for the linked quarter.

“Our second quarter results are positive with earnings growth of over 27 percent from the second quarter last year resulting from our healthy loan and deposit growth, improved margin and increased trust revenue,” said F. Scott Dueser, Chairman and CEO of First Financial Bankshares, Inc. “Our outlook for the remainder of the year is good as we have opportunities to improve our investment yields, continue loan growth and focus on growing deposits in our markets. I am very appreciative of the work our teams are doing to support these results.”

Net interest income for the second quarter of 2025 was $123.73 million compared to $103.27 million for the second quarter of 2024 and $118.79 million for the first quarter 2025. The net interest margin, on a taxable equivalent basis, was 3.81 percent for the second quarter of 2025 compared to 3.48 percent for the second quarter of 2024 and 3.74 percent in the first quarter of 2025. Increased margins are primarily due to increased average yields on loans and securities. Additionally, the Company recognized a $698 thousand prepayment penalty during the second quarter of 2025 which had a positive impact on the margin for the quarter. Average interest-earning assets were $13.34 billion for the second quarter of 2025 compared to $12.23 billion for the same quarter a year ago.

The Company recorded a provision for credit losses of $3.13 million for the second quarter of 2025 compared to a provision for credit losses of $5.89 million for the second quarter of 2024 and $3.53 million for the first quarter 2025. At June 30, 2025, the allowance for credit losses totaled $102.79 million, or 1.27 percent of loans held-for-investment (“loans” hereafter), compared to $95.17 million, or 1.27 percent of loans, at June 30, 2024. Additionally, the reserve for unfunded commitments totaled $9.91 million at June 30, 2025 compared to $7.43 million at June 30, 2024.

For the second quarter of 2025, net charge-offs totaled $720 thousand compared to net charge-offs of $302 thousand for the second quarter of 2024 and net charge offs of $236 thousand for the first quarter 2025. Nonperforming assets as a percentage of loans and foreclosed assets totaled 0.79 percent at June 30, 2025, compared to 0.81 percent at June 30, 2024. Classified loans totaled $257.07 million at June 30, 2025, compared to $219.26 million at June 30, 2024.

Noninterest income for the second quarter of 2025 was $32.87 million compared to $31.27 million for the second quarter of 2024, due to the following:

•

Trust fee income increased to $12.75 million for the second quarter of 2025 compared to $11.71 million for the second quarter of 2024, driven by the increase in market value of trust assets managed to $11.46 billion at June 30, 2025, compared to $10.24 billion at June 30, 2024.

•

Mortgage income increased to $4.13 million for the quarter compared to $3.69 million for the second quarter of 2024, as overall origination volume and margins have improved from the prior periods.

•

Other noninterest income decreased $499 thousand to $2.93 million for the second quarter of 2025 compared to $3.43 million in the second quarter of 2024 due to the recognition of a $723 thousand one-time BOLI settlement payment recognized in the second quarter of 2024.

Noninterest expense for the second quarter of 2025 totaled $71.74 million compared to $65.01 million for the second quarter of 2024, due to the following:

•

Salary, commissions, and employee benefit costs increased to $42.58 million for the second quarter of 2025, compared to $37.47 million in the second quarter of 2024, primarily resulting from merit-based and market driven pay increases, an increase of $838 thousand in profit sharing accruals, an increase of $519 thousand in bonus and incentive accruals, and an increase of $452 thousand in stock-based compensation when compared to the same quarter in 2024. The increase in profit sharing and incentive accruals are directly related to the increase in net income over prior year.

•

Noninterest expenses, excluding salary related costs, increased $1.62 million for the second quarter of 2025 compared to the same period in 2024 largely due to increases in software amortization as a result of the Company investing in new loan origination and account opening platforms.

The Company’s efficiency ratio was 44.97 percent for the second quarter of 2025 compared to 47.41 percent for the second quarter of 2024largely due to the increase in net interest income.

As of June 30, 2025, consolidated total assets were $14.38 billion compared to $13.16 billion on June 30, 2024. Loans totaled $8.07 billion on June 30, 2025, compared with loans of $7.52 billion at June 30, 2024. During the second quarter of 2025, loans grew $129.33 million, or 6.53 percent annualized, when compared to March 31, 2025, balances. Loans have grown $161.85 million or 4.12 percent annualized year-to-date. Deposits and Repurchase Agreements totaled $12.50 billion at June 30, 2025, compared to $11.55 billion at June 30, 2024. Deposits and Repurchase Agreement balances have grown 5.57 percent annualized year-to-date through the second quarter 2025.

Shareholders’ equity was $1.74 billion as of June 30, 2025, compared to $1.52 billion and $1.61 billion at June 30, 2024, and December 31, 2024, respectively. The unrealized loss on the securities portfolio, net of applicable tax, totaled $373.46 million at June 30, 2025, compared to unrealized losses of $441.56 million at June 30, 2024 and $424.29 million at December 31, 2024.

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, Stephenville, Sweetwater, Tomball, Trent, Trophy Club, Vidor, Waxahachie, Weatherford, Willis, and Willow Park. The Company also operates First Financial Trust & Asset Management Company, 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 and the pandemic, 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
		2025								2024
ASSETS		June 30,				Mar. 31,				Dec. 31,				Sept. 30,				June 30,
Cash and due from banks	$		264,000		$		232,943		$		259,996		$		296,188		$		263,262
Interest-bearing demand deposits in banks			435,612				682,362				503,417				287,476				103,315
Federal funds sold			8,750				11,750				-				-				2,800
Investment securities			4,886,548				4,760,431				4,617,759				4,612,299				4,573,024
Loans, held-for-investment			8,074,944				7,945,611				7,913,098				7,723,191				7,519,733
Allowance for credit losses			(102,792	)			(101,080	)			(98,325	)			(99,936	)			(95,170	)
Net loans, held-for-investment			7,972,152				7,844,531				7,814,773				7,623,255				7,424,563
Loans, held-for-sale			33,233				14,348				8,235				20,114				19,668
Premises and equipment, net			148,999				150,589				151,904				151,204				153,075
Goodwill			313,481				313,481				313,481				313,481				313,481
Other intangible assets			343				428				523				671				828
Other assets			313,723				301,251				309,330				278,244				310,059
Total assets	$		14,376,841		$		14,312,114		$		13,979,418		$		13,582,932		$		13,164,075

LIABILITIES AND SHAREHOLDERS' EQUITY
Noninterest-bearing deposits	$		3,439,059		$		3,356,553		$		3,348,041		$		3,303,143		$		3,289,032
Interest-bearing deposits			9,009,357				9,110,218				8,751,133				8,452,718				8,120,125
Total deposits			12,448,416				12,466,771				12,099,174				11,755,861				11,409,157
Repurchase agreements			48,026				56,606				61,416				57,557				138,950
Borrowings			22,153				26,978				135,603				25,978				23,703
Trade date payable			24,965				-				-				5,416				-
Other liabilities			95,929				81,498				76,665				75,929				73,239
Shareholders' equity			1,737,352				1,680,261				1,606,560				1,662,191				1,519,026
Total liabilities and shareholders' equity	$		14,376,841		$		14,312,114		$		13,979,418		$		13,582,932		$		13,164,075


	Quarter Ended
		2025						2024
INCOME STATEMENTS		June 30,			Mar. 31,			Dec. 31,			Sept. 30,			June 30,
Interest income	$		172,810	$		167,110	$		165,792	$		159,958	$		153,673
Interest expense			49,080			48,321			49,675			52,849			50,400
Net interest income			123,730			118,789			116,117			107,109			103,273
Provision for credit losses			3,132			3,528			1,003			6,123			5,888
Net interest income after provision for credit losses			120,598			115,261			115,114			100,986			97,385
Noninterest income			32,873			30,230			30,977			32,362			31,268
Noninterest expense			71,735			70,335			70,099			66,012			65,012
Net income before income taxes			81,736			75,156			75,992			67,336			63,641
Income tax expense			15,078			13,810			13,671			12,028			11,156
Net income	$		66,658	$		61,346	$		62,321	$		55,308	$		52,485


PER COMMON SHARE DATA
Net income - basic	$	0.47	$	0.43	$	0.44	$	0.39	$	0.37
Net income - diluted		0.47		0.43		0.43		0.39		0.37
Cash dividends declared		0.19		0.18		0.18		0.18		0.18
Book value		12.14		11.75		11.24		11.63		10.63
Tangible book value		9.95		9.55		9.04		9.43		8.43
Market value		35.98		35.92		36.05		37.01		29.53
Shares outstanding - end of period		143,077,619		143,019,433		142,944,704		142,906,070		142,848,909
Average outstanding shares - basic		143,023,544		142,949,514		142,898,110		142,853,215		142,814,363
Average outstanding shares - diluted		142,378,505		143,355,148		143,352,067		143,188,857		143,088,930


PERFORMANCE RATIOS
Return on average assets	1.89	%	1.78	%	1.81	%	1.66	%	1.61	%
Return on average equity	15.82		15.12		15.17		14.00		14.43
Return on average tangible equity	19.43		18.68		18.78		17.49		18.38
Net interest margin (tax equivalent)	3.81		3.74		3.67		3.50		3.48
Efficiency ratio	44.97		46.36		46.81		46.45		47.41

FIRST FINANCIAL BANKSHARES, INC.

CONSOLIDATED FINANCIAL SUMMARY (UNAUDITED)

(In thousands, except share and per share data)


	Six Months Ended
	June 30,
INCOME STATEMENTS		2025			2024
Interest income	$		339,920	$		303,167
Interest expense			97,401			99,653
Net interest income			242,519			203,514
Provision for credit losses			6,660			6,695
Net interest income after provisions for credit losses			235,859			196,819
Noninterest income			63,103			60,651
Noninterest expense			142,070			128,952
Net income before income taxes			156,892			128,518
Income tax expense			28,888			22,636
Net income	$		128,004	$		105,882


PER COMMON SHARE DATA
Net income - basic	$	0.90	$	0.74
Net income - diluted		0.89		0.74
Cash dividends declared		0.37		0.36
Book value		12.14		10.63
Tangible book value		9.95		8.43
Market value	$	35.98	$	29.53
Shares outstanding - end of period		143,077,619		142,848,909
Average outstanding shares - basic		142,986,734		142,769,518
Average outstanding shares - diluted		143,378,720		143,067,193


PERFORMANCE RATIOS
Return on average assets	1.83	%	1.62	%
Return on average equity	15.48		14.43
Return on average tangible equity	19.07		18.33
Net interest margin (tax equivalent)	3.78		3.41
Efficiency ratio	45.65		47.88

FIRST FINANCIAL BANKSHARES, INC.

SELECTED FINANCIAL DATA (UNAUDITED)

(In thousands)


	Quarter Ended
		2025								2024
ALLOWANCE FOR LOAN LOSSES		June 30,				Mar. 31,				Dec. 31,				Sept. 30,				June 30,
Balance at beginning of period	$		101,080		$		98,325		$		99,936		$		95,170		$		89,562
Loans charged-off			(1,189	)			(946	)			(2,184	)			(1,279	)			(702	)
Loan recoveries			469				710				243				493				400
Net recoveries (charge-offs)			(720	)			(236	)			(1,941	)			(786	)			(302	)
Provision for loan losses			2,432				2,991				330				5,552				5,910
Balance at end of period	$		102,792		$		101,080		$		98,325		$		99,936		$		95,170


ALLOWANCE FOR UNFUNDED COMMITMENTS
Balance at beginning of period	$	9,214		$	8,677		$	8,004		$	7,433		$	7,455
Provision for unfunded commitments		700			537			673			571			(22	)
Balance at end of period	$	9,914		$	9,214		$	8,677		$	8,004		$	7,433

Allowance for loan losses /
period-end loans held-for-investment		1.27	%		1.27	%		1.24	%		1.29	%		1.27		%
Allowance for loan losses /
nonperforming loans		162.60			164.16			158.02			156.44			157.20
Net charge-offs (recoveries) / average total loans
(annualized)		0.04			0.01			0.10			0.04			0.02


	As of
		2025						2024
COMPOSITION OF LOANS HELD-FOR-INVESTMENT		June 30,			Mar. 31,			Dec. 31,			Sept. 30,			June 30,
Commercial:
C&I	$		1,202,151	$		1,144,429	$		1,176,993	$		1,175,774	$		1,141,990
Municipal			306,140			338,303			369,246			333,732			359,124
Total Commercial			1,508,291			1,482,732			1,546,239			1,509,506			1,501,114
Agricultural			86,133			90,186			95,543			83,269			86,186
Real Estate:
Construction & Development			1,172,834			1,098,069			1,054,603			1,013,810			986,394
Farm			302,969			331,464			339,665			315,720			318,597
Non-Owner Occupied CRE			746,341			753,898			805,566			825,928			815,713
Owner Occupied CRE			1,124,610			1,142,618			1,083,100			1,086,750			1,049,715
Residential			2,286,220			2,217,740			2,196,767			2,112,196			1,990,604
Total Real Estate			5,632,974			5,543,789			5,479,701			5,354,404			5,161,023
Consumer:
Auto			698,897			679,189			638,560			618,103			615,192
Non-Auto			148,649			149,715			153,055			157,909			156,218
Total Consumer			847,546			828,904			791,615			776,012			771,410

Total loans held-for-investment	$		8,074,944	$		7,945,611	$		7,913,098	$		7,723,191	$		7,519,733


SUMMARY OF LOAN CLASSIFICATION
Special Mention	$	62,774	$	46,103	$	42,563	$	41,362	$	57,864
Substandard		194,291		199,509		191,288		188,561		161,399
Doubtful		-		-		-		-		-
Total classified loans	$	257,065	$	245,612	$	233,851	$	229,923	$	219,263


NONPERFORMING ASSETS
Nonaccrual loans	$	63,142		$	60,430		$	61,938		$	63,378		$	60,311
Accruing loans 90 days past due		77			1,143			287			504			231
Total nonperforming loans		63,219			61,573			62,225			63,882			60,542
Foreclosed assets		489			115			871			535			647
Total nonperforming assets	$	63,708		$	61,688		$	63,096		$	64,417		$	61,189

As a % of loans held-for-investment and foreclosed assets		0.79	%		0.78	%		0.80	%		0.83	%		0.81	%
As a % of end of period total assets		0.44			0.43			0.45			0.47			0.46

FIRST FINANCIAL BANKSHARES, INC.

SELECTED FINANCIAL DATA (UNAUDITED)

(In thousands)


	Quarter Ended
		2025						2024
CAPITAL RATIOS		June 30,			Mar. 31,			Dec. 31,			Sept. 30,			June 30,
Common equity Tier 1 capital ratio			19.16	%		19.12	%		18.83	%		18.83	%		18.42	%
Tier 1 capital ratio			19.16			19.12			18.83			18.83			18.42
Total capital ratio			20.35			20.31			20.00			20.03			19.55
Tier 1 leverage ratio			12.61			12.46			12.49			12.53			12.40
Tangible common equity ratio			10.12			9.76			9.46			10.16			9.38
Equity/Assets ratio			12.08			11.74			11.49			12.24			11.54


	Quarter Ended
		2025							2024
NONINTEREST INCOME		June 30,			Mar. 31,				Dec. 31,			Sept. 30,				June 30,
Trust fees	$		12,746	$		12,653		$		12,662	$		11,694		$		11,714
Service charges on deposits			6,126			6,177				6,306			6,428				6,009
Debit card fees			5,218			4,967				5,506			5,528				5,145
Credit card fees			707			577				617			617				672
Gain on sale and fees on mortgage loans			4,126			2,832				3,009			3,359				3,687
Net gain (loss) on sale of available-for-sale securities			-			-				-			-				-
Net gain (loss) on sale of foreclosed assets			200			(35	)			36			(30	)			(58	)
Net gain (loss) on sale of assets			6			-				214			267				2
Loan recoveries			810			574				433			1,359				664
Other noninterest income			2,934			2,485				2,194			3,140				3,433
Total noninterest income	$		32,873	$		30,230		$		30,977	$		32,362		$		31,268


NONINTEREST EXPENSE
Salaries, commissions and employee benefits, excluding profit sharing	$	39,834	$	39,157	$	37,996	$	35,262	$	35,569
Profit sharing expense		2,741		2,985		3,648		2,235		1,903
Net occupancy expense		3,600		3,720		3,753		3,738		3,618
Equipment expense		2,478		2,321		2,305		2,291		2,233
FDIC insurance premiums		1,585		1,575		1,511		1,514		1,508
Debit card expense		3,308		3,373		3,220		3,248		3,242
Legal, tax and professional fees		3,143		3,067		3,751		3,865		3,809
Audit fees		463		451		423		582		453
Printing, stationery and supplies		473		482		293		199		425
Amortization of intangible assets		86		95		147		157		157
Advertising, meals and public relations		1,653		1,677		1,642		1,466		1,466
Operational and other losses		720		540		863		955		769
Software amortization and expense		4,020		3,732		3,648		3,712		3,158
Other noninterest expense		7,631		7,160		6,899		6,788		6,702
Total noninterest expense	$	71,735	$	70,335	$	70,099	$	66,012	$	65,012

TAX EQUIVALENT YIELD ADJUSTMENT	$	2,926	$	2,700	$	2,673	$	2,628	$	2,572

FIRST FINANCIAL BANKSHARES, INC.

SELECTED FINANCIAL DATA (UNAUDITED)

(In thousands)


	Six Months Ended
	June 30,
NONINTEREST INCOME		2025			2024
Trust fees	$		25,399	$		23,093
Service charges on deposits			12,302			12,255
Debit card fees			10,185			10,036
Credit card fees			1,284			1,303
Gain on sale and fees on mortgage loans			6,958			6,815
Net gain on sale of available-for-sale securities			-			-
Net gain on sale of foreclosed assets			165			(58	)
Net gain (loss) on sale of assets			6			2
Interest on loan recoveries			1,384			1,219
Other noninterest income			5,420			5,986
Total noninterest income	$		63,103	$		60,651


NONINTEREST EXPENSE
Salaries, commissions and employee benefits, excluding profit sharing	$	78,991	$	70,572
Profit sharing expense		5,726		3,583
Net occupancy expense		7,320		7,088
Equipment expense		4,799		4,470
FDIC insurance premiums		3,160		3,473
Debit card expense		6,680		6,300
Legal, tax and professional fees		6,209		6,543
Audit fees		914		786
Printing, stationery and supplies		955		872
Amortization of intangible assets		181		314
Advertising, meals and public relations		3,332		2,920
Operational and other losses		1,260		1,923
Software amortization and expense		7,753		6,163
Other noninterest expense		14,790		13,945
Total noninterest expense	$	142,070	$	128,952

TAX EQUIVALENT YIELD ADJUSTMENT	$	5,626	$	5,145

FIRST FINANCIAL BANKSHARES, INC.

SELECTED FINANCIAL DATA (UNAUDITED)

(In thousands)


	Three Months Ended									Three Months Ended
	June 30, 2024									Mar. 31, 2024
		Average			Tax Equivalent		Yield /				Average			Tax Equivalent		Yield /
		Balance			Interest		Rate				Balance			Interest		Rate
Interest-earning assets:
Federal funds sold	$		5,160	$		74		5.81	%	$		3,923	$		57		5.85	%
Interest-bearing demand deposits in nonaffiliated banks			159,707			2,292		5.77				344,969			4,657		5.43
Taxable securities			3,250,684			19,912		2.45				3,376,324			19,952		2.36
Tax-exempt securities			1,404,706			9,730		2.77				1,434,505			9,794		2.73
Loans			7,405,297			124,237		6.75				7,205,424			117,608		6.56
Total interest-earning assets			12,225,554	$		156,245		5.14	%			12,365,145	$		152,068		4.95	%
Noninterest-earning assets			855,719									864,885
Total assets	$		13,081,273							$		13,230,030
Interest-bearing liabilities:
Deposits	$		8,020,247	$		48,414		2.43	%	$		7,878,094	$		45,250		2.31	%
Repurchase Agreements			212,590			1,895		3.59				317,439			2,562		3.25
Borrowings			22,932			91		1.60				132,963			1,441		4.36
Total interest-bearing liabilities			8,255,769	$		50,400		2.46	%			8,328,496	$		49,253		2.38	%
Noninterest-bearing deposits			3,289,906									3,346,757
Other noninterest-bearing liabilities			72,464									66,134
Shareholders' equity			1,463,134									1,488,643
Total liabilities and shareholders' equity	$		13,081,273							$		13,230,030

Net interest income and margin (tax equivalent)				$		105,845		3.48	%				$		102,815		3.34	%

	Three Months Ended									Three Months Ended
	Dec. 31, 2023									Sept. 30, 2023
		Average			Tax Equivalent		Yield /				Average			Tax Equivalent		Yield /
		Balance			Interest		Rate				Balance			Interest		Rate
Interest-earning assets:
Federal funds sold	$		1,768	$		25		5.72	%	$		2,383	$		35		5.79	%
Interest-bearing demand deposits in nonaffiliated banks			145,839			1,961		5.33				55,231			757		5.44
Taxable securities			3,317,114			19,686		2.37				3,429,290			19,425		2.27
Tax-exempt securities			1,410,148			10,188		2.89				1,578,660			11,085		2.81
Loans			7,052,463			112,996		6.36				6,894,064			106,872		6.15
Total interest-earning assets			11,927,332	$		144,856		4.82	%			11,959,628	$		138,174		4.58	%
Noninterest-earning assets			886,811									850,855
Total assets	$		12,814,143							$		12,810,483
Interest-bearing liabilities:
Deposits	$		7,371,260	$		39,225		2.11	%	$		7,259,252	$		36,165		1.98	%
Repurchase Agreements			558,592			4,627		3.29				567,064			4,518		3.16
Borrowings			78,066			847		4.30				54,124			519		3.80
Total interest-bearing liabilities			8,007,918	$		44,699		2.21	%			7,880,440	$		41,202		2.07	%
Noninterest-bearing deposits			3,461,544									3,509,809
Other noninterest-bearing liabilities			65,524									65,094
Shareholders' equity			1,279,157									1,355,140
Total liabilities and shareholders' equity	$		12,814,143							$		12,810,483

Net interest income and margin (tax equivalent)				$		100,157		3.33	%				$		96,972		3.22	%

	Three Months Ended
	June 30, 2023
		Average			Tax Equivalent		Yield /
		Balance			Interest		Rate
Interest-earning assets:
Federal funds sold	$		2,242	$		30		5.45	%
Interest-bearing demand deposits in nonaffiliated banks			119,168			1,553		5.23
Taxable securities			3,589,381			20,032		2.23
Tax-exempt securities			1,653,418			11,799		2.85
Loans			6,683,276			98,541		5.91
Total interest-earning assets			12,047,485	$		131,955		4.39	%
Noninterest-earning assets			842,284
Total assets	$		12,889,769
Interest-bearing liabilities:
Deposits	$		7,037,677	$		27,629		1.57	%
Repurchase Agreements			570,071			3,949		2.78
Borrowings			145,000			1,561		4.32
Total interest-bearing liabilities			7,752,748	$		33,139		1.71	%
Noninterest-bearing deposits			3,704,143
Other noninterest-bearing liabilities			62,227
Shareholders' equity			1,370,651
Total liabilities and shareholders' equity	$		12,889,769

Net interest income and margin (tax equivalent)				$		98,816		3.29	%

FIRST FINANCIAL BANKSHARES, INC.

SELECTED FINANCIAL DATA (UNAUDITED)

(In thousands)


	Six Months Ended									Six Months Ended
	June 30, 2025									June 30, 2024
		Average			Tax Equivalent		Yield /				Average			Tax Equivalent		Yield /
		Balance			Interest		Rate				Balance			Interest		Rate
Interest-earning assets:
Federal funds sold	$		8,501	$		203		4.82	%	$		4,541	$		131		5.82	%
Interest-bearing deposits in nonaffiliated banks			332,960			7,365		4.46				252,338			6,948		5.54
Taxable securities			3,487,932			50,277		2.88				3,313,504			39,864		2.41
Tax exempt securities			1,420,541			20,723		2.92				1,419,606			19,524		2.75
Loans			7,999,398			266,977		6.73				7,305,361			241,846		6.66
Total interest-earning assets			13,249,332	$		345,545		5.26	%			12,295,350	$		308,313		5.04	%
Noninterest-earning assets			828,336									860,302
Total assets	$		14,077,668							$		13,155,652
Interest-bearing liabilities:
Deposits	$		8,903,004	$		96,280		2.18	%	$		7,949,170	$		93,666		2.37	%
Repurchase Agreements			54,203			430		1.60				265,014			4,457		3.38
Borrowings			50,426			690		2.76				77,947			1,530		3.95
Total interest-bearing liabilities			9,007,633	$		97,400		2.18	%			8,292,131	$		99,653		2.42	%
Noninterest-bearing deposits			3,325,170									3,318,332
Other noninterest-bearing liabilities			77,030									69,300
Shareholders' equity			1,667,835									1,475,889
Total liabilities and shareholders' equity	$		14,077,668							$		13,155,652

Net interest income and margin (tax equivalent)				$		248,145		3.78	%				$		208,660		3.41	%