FIRST FINANCIAL BANKSHARES INC FFIN Income Statement

First financial bankshares inc (FFIN)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Sep'09	Jun'09
INTEREST INCOME:
Interest and fees on loans
62,995	58,461	57,123	55,740	53,232	53,068	51,428	49,105	46,746	43,163	42,749	41,311	39,584	40,318	40,411	39,942	40,347	41,199	39,368	36,034	35,061	35,098	34,682	33,846	33,058	33,181	32,936	28,950	26,445	26,380	26,138	25,014	24,640	24,864	24,983	24,633	24,287	24,456	23,093	22,792	22,374	22,642	22,690
Interest on investment securities:
Taxable
14,655	14,164	14,292	13,925	13,289	13,386	12,593	12,719	11,354	8,977	8,074	8,343	7,431	6,459	6,775	7,130	7,262	7,168	7,298	7,399	7,808	7,369	6,858	7,091	7,084	6,687	6,130	6,313	6,375	6,820	7,480	8,214	8,804	8,935	9,363	9,831	9,592	8,998	9,026	9,237	8,966	9,144	9,151
Exempt from federal income tax
9,694	9,273	8,795	9,244	9,763	9,779	9,558	9,983	10,341	10,668	11,091	11,408	11,492	11,083	10,808	10,745	10,666	10,642	10,457	9,861	9,120	8,538	8,335	8,228	7,980	7,721	7,480	7,063	6,579	6,471	6,484	6,456	6,141	5,829	5,543	5,459	5,481	5,149	4,758	4,676	4,633	4,705	4,499
Interest on federal funds sold and interest-bearing deposits in banks
756	226	381	667	617	248	470	271	641	648	640	120	276	119	99	64	60	38	40	50	80	116	80	89	87	104	109	120	176	130	185	227	212	261	275	318	367	438	382	349	372	96	71
Interest on trading securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	11	57
Total interest income
88,100	82,124	80,591	79,576	76,901	76,481	74,049	72,078	69,082	63,456	62,554	61,182	58,783	57,979	58,093	57,881	58,335	59,047	57,163	53,344	52,069	51,121	49,955	49,254	48,209	47,693	46,655	42,446	39,575	39,801	40,287	39,911	39,797	39,889	40,164	40,241	39,727	39,041	37,259	37,054	36,345	36,598	36,468
INTEREST EXPENSE:
Interest on deposits
6,681	6,052	7,123	7,286	6,661	5,092	4,330	4,005	3,519	2,465	2,228	1,930	1,590	1,305	1,112	1,033	1,053	880	932	902	928	989	999	955	940	951	1,038	853	867	991	1,094	1,310	1,482	1,652	1,807	2,014	2,349	2,824	3,249	3,463	3,535	3,836	4,155
Other
517	749	830	675	726	1,115	293	462	114	97	638	167	173	138	254	297	259	165	133	106	42	50	70	82	96	123	126	93	37	58	74	45	58	53	47	51	51	64	96	133	164	179	192
Total interest expense
7,198	6,801	7,953	7,961	7,387	6,207	4,623	4,467	3,633	2,562	2,866	2,097	1,763	1,443	1,366	1,330	1,312	1,045	1,065	1,008	970	1,039	1,069	1,037	1,036	1,074	1,164	946	904	1,049	1,168	1,355	1,540	1,705	1,854	2,065	2,400	2,888	3,345	3,596	3,699	4,015	4,347
Net interest income
80,902	75,323	72,638	71,615	69,514	70,274	69,426	67,611	65,449	60,894	59,688	59,085	57,020	56,536	56,727	56,551	57,023	58,002	56,098	52,336	51,099	50,082	48,886	48,217	47,173	46,619	45,491	41,500	38,671	38,752	39,119	38,556	38,257	38,184	38,310	38,176	37,327	36,153	33,914	33,458	32,646	32,583	32,121
PROVISION FOR LOAN LOSSES
9,850	950	450	600	965	1,800	1,450	1,105	1,310	1,440	1,415	1,725	1,950	1,993	3,833	2,058	2,328	4,177	2,664	1,554	1,290	755	896	1,124	1,690	1,171	1,349	832	401	642	787	759	1,296	1,221	1,354	1,924	2,127	1,991	1,988	2,973	2,010	3,706	1,588
Net interest income after provision for loan losses
71,052	74,373	72,188	71,015	68,549	68,474	67,976	66,506	64,139	59,454	58,273	57,360	55,070	54,543	52,894	54,493	54,695	53,825	53,434	50,782	49,809	49,327	47,990	47,093	45,483	45,448	44,142	40,668	38,270	38,110	38,332	37,797	36,961	36,963	36,956	36,252	35,200	34,162	31,926	30,485	30,636	28,877	30,533
NONINTEREST INCOME:
Trust fees
7,437	7,344	7,051	7,027	6,979	6,916	7,291	7,070	6,904	5,890	6,040	5,747	6,017	5,189	5,066	4,726	4,655	4,963	4,818	4,740	4,731	4,869	4,772	4,549	4,576	4,433	4,138	3,953	3,793	3,617	3,723	3,670	3,454	3,151	3,265	3,211	3,044	2,905	2,706	2,672	2,526	2,328	2,126
Service charges on deposit accounts
5,915	5,860	5,629	5,374	5,176	5,714	5,690	5,375	4,884	4,900	5,083	4,883	4,550	4,773	4,796	4,404	4,413	4,729	4,653	4,021	3,768	4,287	4,402	4,174	4,047	4,537	4,798	4,316	3,895	4,432	4,337	4,042	3,882	4,314	4,482	4,520	4,373	4,853	5,100	5,293	4,858	5,732	5,421
ATM, interchange and credit card fees
7,400	7,943	7,728	7,352	6,840	6,962	7,533	7,041	6,996	6,584	6,340	6,598	6,164	6,390	6,000	5,840	5,680	5,652	5,794	5,445	4,969	5,137	5,093	4,754	4,443	4,436	4,404	4,181	3,729	3,960	3,767	3,784	3,676	3,551	3,544	3,415	3,077	3,020	2,915	2,830	2,511	2,427	2,427
Real estate mortgage operations
3,852	4,216	5,733	4,721	3,474	3,439	4,834	3,951	2,933	3,613	3,891	4,188	3,417	4,237	4,697	4,013	3,139	3,087	3,742	2,098	1,482	2,071	2,079	1,337	1,024	1,978	2,008	1,686	1,384	1,331	1,495	1,218	1,050	1,013	1,056	941	933	1,241	1,154	857	560	731	858
Net gain on sale of available-for-sale securities (includes $2,062 and $- for the three months ended March 31, 2020 and 2019, respectively, related to accumulated other comprehensive earnings reclassifications)
2,062	5	52	676	0	8	58	67	1,221	3	1,075	747	3	117	239	912	2	52	136	239	5	0	1	-1	-4	0	-108	33	222	565	1,479	382	346	164	67	42	219	283	7	72	1	897	498
Net gain on sale of student loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	273	-
Net gain on sale of foreclosed assets
1	81	71	53	69	-86	84	19	99	-8	-11	-72	41	112	-10	278	76	529	28	-49	30	100	305	47	452	111	36	17	-316	154	-106	-404	6	-159	18	-1,111	-63	74	313	59	11	-127	99
Net gain on sale of assets
116	78	235	6	0	5	-61	0	-91	-185	-15	-200	4	-103	-168	-74	513	-810	-11	-4	5	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest on loan recoveries
265	276	575	903	338	331	199	289	119	232	405	337	154	141	709	629	633	216	323	403	108	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
1,684	1,543	1,595	1,864	1,561	1,509	1,427	1,676	1,358	1,272	1,452	942	936	865	823	710	710	862	963	916	799	-52	672	1,012	1,867	186	1,799	967	1,253	889	804	772	884	757	1,479	876	1,259	496	731	787	643	618	691
Total noninterest income
28,732	27,346	28,669	27,976	24,437	24,798	27,055	25,488	24,423	22,301	24,260	23,170	21,286	21,721	22,152	21,438	19,821	19,280	20,446	17,809	15,897	17,023	17,324	15,872	16,405	15,864	17,075	15,153	13,960	14,948	15,499	13,464	13,298	12,791	13,911	11,894	12,842	12,872	12,926	12,570	11,110	12,879	12,120
NONINTEREST EXPENSE:
Salaries and employee benefits
29,642	28,968	28,550	27,394	27,424	25,747	26,377	26,862	26,203	24,420	24,143	23,465	23,259	23,071	22,931	22,147	22,590	21,913	21,648	19,173	18,265	17,818	17,950	17,274	17,414	17,697	17,501	16,151	15,180	15,006	14,845	14,189	14,229	13,905	14,108	14,008	14,235	14,017	13,126	12,841	12,657	12,201	12,241
Net occupancy expense
3,027	2,784	2,830	2,779	2,763	2,584	2,900	2,806	2,883	2,439	2,711	2,771	2,600	2,534	2,672	2,583	2,631	2,673	3,050	2,394	2,197	2,296	2,297	2,273	2,234	2,101	2,164	2,064	1,766	1,790	1,806	1,743	1,737	1,707	1,823	1,685	1,647	1,649	1,654	1,561	1,578	1,599	1,567
Equipment expense
2,075	1,547	2,225	2,827	2,453	533	2,629	3,440	3,516	-276	3,294	3,665	3,437	3,293	3,420	3,386	3,380	3,217	3,114	2,992	2,899	2,695	2,758	2,665	2,622	2,522	2,490	2,380	2,281	2,269	2,269	2,144	2,108	2,008	1,970	1,951	1,871	1,934	1,851	1,853	1,838	1,920	1,968
FDIC insurance premiums
45	0	15	538	538	565	570	632	566	559	561	550	547	525	513	818	824	837	819	749	748	689	693	684	659	638	640	568	572	565	563	565	527	518	561	597	970	1,047	975	990	988	818	2,305
ATM, interchange and credit card expenses
2,985	2,419	2,627	2,427	2,383	2,590	2,344	2,205	2,143	1,935	2,001	1,803	1,713	1,879	1,859	1,806	1,687	1,541	1,509	1,609	1,725	1,875	1,819	1,696	1,480	1,499	1,474	1,347	1,340	1,432	1,317	1,450	1,249	1,311	1,276	1,183	1,148	1,249	890	866	774	708	618
Correspondent bank service charges
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	192	181	191	204	323
Professional and service fees
2,594	2,132	1,902	1,987	1,832	2,281	2,174	2,026	2,413	2,185	2,036	2,025	1,817	1,780	1,883	1,650	1,564	1,461	1,148	1,157	1,065	1,047	1,205	963	1,080	950	1,363	1,027	803	780	838	689	737	696	730	834	972	798	712	636	693	603	591
Printing, stationery and supplies
566	464	480	502	366	512	387	612	486	566	449	536	438	590	536	464	503	617	594	471	596	676	632	554	775	562	534	498	472	486	468	511	505	471	443	489	428	435	425	428	429	508	465
Operational and other losses
576	626	507	480	266	336	981	305	566	552	1,081	574	985	718	533	433	486	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Software amortization and expense
2,024	2,654	1,767	1,287	1,597	3,624	1,393	479	524	4,703	742	995	500	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of intangible assets
509	237	246	264	269	222	279	384	387	137	143	165	168	168	172	199	199	199	200	72	90	64	62	74	75	77	77	33	10	29	38	38	44	85	101	105	111	146	151	153	159	214	216
Other
11,275	7,436	7,761	7,819	7,476	7,696	7,472	7,393	8,111	6,875	6,803	7,226	6,688	7,165	7,484	7,270	7,217	5,997	7,891	6,587	6,358	6,366	6,624	8,819	6,109	7,050	9,291	5,843	5,047	6,276	5,059	5,416	5,332	5,554	5,308	5,036	4,779	5,550	4,730	4,442	4,031	4,243	4,064
Total noninterest expense
55,318	51,940	48,910	48,304	47,367	48,236	47,506	47,144	47,798	44,095	43,964	43,775	42,152	41,990	42,003	40,756	41,081	40,344	39,973	35,204	33,943	36,435	34,040	35,002	32,448	33,096	35,534	29,911	27,471	28,633	27,203	26,745	26,468	26,255	26,320	25,888	26,161	26,261	24,706	23,951	23,338	23,018	24,358
EARNINGS BEFORE INCOME TAXES
44,466	49,779	51,947	50,687	45,619	45,036	47,525	44,850	40,764	37,660	38,569	36,755	34,204	34,274	33,043	35,175	33,435	32,761	33,907	33,387	31,763	29,915	31,274	27,963	29,440	28,216	25,683	25,910	24,759	24,425	26,628	24,516	23,791	23,499	24,547	22,258	21,881	20,773	20,146	19,104	18,408	18,738	18,295
INCOME TAX EXPENSE (includes $433 and $- for the three months ended March 31, 2020 and 2019, respectively, related to income tax expense reclassification)
7,234	8,392	8,867	8,594	7,367	6,600	7,475	7,217	6,245	1,517	9,195	8,500	7,605	7,608	7,440	8,366	7,739	7,570	8,021	8,080	7,766	7,328	7,843	6,758	7,104	6,977	6,121	6,420	6,182	6,107	6,828	6,165	6,035	6,032	6,460	5,738	5,586	5,258	5,213	4,906	4,691	4,752	4,729
NET EARNINGS BEFORE EXTRAORDINARY ITEM
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	14,933	-	-	13,986	-
EXTRAORDINARY ITEM - EXPROPRIATION OF LAND, NET OF INCOME TAXES OF $697
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,296	-	-	-	-
NET EARNINGS
37,232	41,387	43,080	42,093	38,252	38,436	40,050	37,633	34,519	36,143	29,374	28,255	26,599	26,666	25,603	26,809	25,696	25,191	25,886	25,307	23,997	22,587	23,431	21,205	22,336	21,239	19,562	19,490	18,577	18,318	19,800	18,351	17,756	17,467	18,087	16,520	16,295	15,515	16,229	14,198	13,717	13,986	13,566
NET EARNINGS PER SHARE, BASIC BEFORE EXTRAORDINARY ITEM
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.48	-	-	0.67	-
NET EARNINGS PER SHARE, ASSUMING DILUTION BEFORE EXTRAORDINARY ITEM
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.48	-	-	0.67	-
EARNINGS PER SHARE, BASIC
0.26	0.31	0.32	0.31	0.28	0.27	0.30	0.28	0.26	-0.36	0.44	0.43	0.40	0.40	0.39	0.41	0.39	0.39	0.40	0.39	0.37	0.35	0.37	0.33	0.35	0.33	0.31	0.31	0.29	-0.59	0.63	0.58	0.56	0.54	0.58	0.53	0.52	0.50	0.52	0.45	0.44	0.67	0.65
EARNINGS PER SHARE, ASSUMING DILUTION
0.26	0.30	0.32	0.31	0.28	0.29	0.29	0.28	0.25	-0.36	0.44	0.43	0.40	0.40	0.39	0.41	0.39	0.38	0.40	0.39	0.37	0.35	0.36	0.33	0.35	0.34	0.30	0.31	0.29	-0.59	0.63	0.58	0.56	0.56	0.57	0.52	0.52	0.50	0.52	0.45	0.44	0.67	0.65
DIVIDENDS PER SHARE
0.12	-	0.12	0.12	0.11	-	0.11	0.11	0.10	-	0.19	0.19	0.18	-	0.18	0.18	0.16	-	0.16	0.16	0.14	-	0.14	0.14	0.13	-	0.13	0.13	0.13	-	0.25	0.25	0.24	-	0.24	0.24	0.23	-	0.23	0.23	0.23	0.34	0.34