FFIN Q4 net income $45.98M, EPS $0.32 (vs $0.41); NIM 3.33% from 3.47%

FIRST FINANCIAL BANKSHARES INC

2023-FY EPS reported $1.39

Net income $45.98M vs $58.67M in Q4 2022; EPS $0.32 vs $0.41, down 22%.
Net interest income $97.51M vs $104.04M; NIM 3.33% vs 3.47% YoY; no provision for credit losses in Q4.
Sold $90.72M of low-yield securities, incurring $6.21M loss; redeployed into loans yielding ~8%.
Loans grew $154.1M in Q4 (8.81% annualized), $706.9M YoY (10.97%); deposits flat at $11.14B.
Noninterest expense $63.47M vs $57.78M; includes $1.75M FDIC special assessment; FY effic. ratio 47.26%.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

FIRST FINANCIAL BANKSHARES INC reported the fourth quarter of 2023 results: net income $45.98 million, EPS $0.32.

Period: the fourth quarter of 2023
Net income: $45.98 million
EPS: $0.32
Result: reported results

Exact text from the filing

First Financial Bankshares, Inc. (the “Company,” “we,” “us” or “our”) (NASDAQ: FFIN) today reported earnings of $45.98 million for the fourth quarter of 2023 compared to earnings of $58.67 million for the same quarter a year ago. Basic and diluted earnings per share were $0.32 for the fourth quarter of 2023 compared with $0.41 for the same quarter a year ago.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

FIRST FINANCIAL BANKSHARES INC reported the year ended December 31, 2023 results: net income $198.98 million, EPS $1.39.

Period: the year ended December 31, 2023
Net income: $198.98 million
EPS: $1.39
Result: reported results

Exact text from the filing

Net earnings for the year ended December 31, 2023, totaled $198.98 million compared to $234.48 million for the year ended December 31, 2022. Basic and diluted earnings per share were $1.39 for the year ended December 31, 2023, compared with basic and diluted earnings per share of $1.64 for the year ended December 31, 2022.

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Source: SEC EDGAR

accession 0000950170-24-007551

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