First Financial Bankshares (FFIN) Quarterly Income Statement

Income Statement Summary

First Financial Bankshares (FFIN) quarterly income statement covering the six quarters from June 2022 to September 2023, as reported to the SEC.

Net earnings were $49.56M in the quarter ended September 30, 2023, down 16.5% from $59.34M.
Net earnings per share, diluted was $0.35, down 14.6% from $0.41.
Earnings before income taxes were $60.4M, down 15.4% from $71.44M.

An income statement shows what a company sold and what it cost to run the business, ending with the profit left over.

Figures in USD thousands, except per share data

						Sep'23	Jun'23	Mar'23	Dec'22	Sep'22	Jun'22
INTEREST INCOME:
Interest and fees on loans
106,377	98,067	89,009	85,934	77,523	68,158	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest and fees on loans						106,377	98,067	89,009	85,934	77,523	68,158	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest on investment securities:
Taxable
19,425	20,033	20,782	21,151	20,799	19,151	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Taxable						19,425	20,033	20,782	21,151	20,799	19,151	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Exempt from federal income tax
8,757	9,321	10,067	12,434	12,974	14,120	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Exempt from federal income tax						8,757	9,321	10,067	12,434	12,974	14,120	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest on federal funds sold and interest-bearing demand deposits in banks
792	1,584	1,650	1,617	1,432	552	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest on federal funds sold and interest-bearing demand deposits in banks						792	1,584	1,650	1,617	1,432	552	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest on trading securities
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest on trading securities						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total interest income
135,351	129,005	121,508	121,136	112,728	101,981	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total interest income						135,351	129,005	121,508	121,136	112,728	101,981	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
INTEREST EXPENSE:
Interest on deposits
36,165	27,629	21,812	13,122	8,788	2,966	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest on deposits						36,165	27,629	21,812	13,122	8,788	2,966	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest on borrowings
5,037	5,510	3,410	3,977	784	233	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest on borrowings						5,037	5,510	3,410	3,977	784	233	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest on borrowings
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest on borrowings						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total interest expense
41,202	33,139	25,222	17,099	9,572	3,199	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total interest expense						41,202	33,139	25,222	17,099	9,572	3,199	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net interest income
94,149	95,866	96,286	104,037	103,156	98,782	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net interest income						94,149	95,866	96,286	104,037	103,156	98,782	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Provision for credit losses
2,276	5,573	2,781	4,074	3,221	5,350	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Provision for credit losses						2,276	5,573	2,781	4,074	3,221	5,350	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net interest income after provision for credit losses
91,873	90,293	93,505	99,963	99,935	93,432	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net interest income after provision for credit losses						91,873	90,293	93,505	99,963	99,935	93,432	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
NONINTEREST INCOME:
Trust fees
10,050	9,883	9,845	10,122	10,314	9,742	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Trust fees						10,050	9,883	9,845	10,122	10,314	9,742	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Service charges on deposit accounts
6,509	6,310	6,036	6,397	6,399	6,038	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Service charges on deposit accounts						6,509	6,310	6,036	6,397	6,399	6,038	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Debit card fees
5,041	6,720	4,936	5,899	5,587	9,868	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Debit card fees						5,041	6,720	4,936	5,899	5,587	9,868	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Credit card fees
694	711	609	632	651	700	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Credit card fees						694	711	609	632	651	700	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
ATM, interchange and credit card fees
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
ATM, interchange and credit card fees						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Gain on sale and fees on mortgage loans
3,442	3,534	2,974	2,904	4,070	5,728	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Gain on sale and fees on mortgage loans						3,442	3,534	2,974	2,904	4,070	5,728	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net gain (loss) on sale of available-for-sale securities
-972	46	12	131	334	1,648	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net gain (loss) on sale of available-for-sale securities						-972	46	12	131	334	1,648	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net gain on sale of available-for-sale securities
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net gain on sale of available-for-sale securities						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net gain on sale of student loans
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net gain on sale of student loans						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net gain (loss) on sale of foreclosed assets
-10	-1	34	-	349	18	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net gain (loss) on sale of foreclosed assets						-10	-1	34	-	349	18	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net gain on sale of other assets
696	-	930	-2	526	6	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net gain on sale of other assets						696	-	930	-2	526	6	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest on loan recoveries
698	475	346	244	664	1,649	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest on loan recoveries						698	475	346	244	664	1,649	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other
1,922	2,269	2,285	2,197	2,049	1,920	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other						1,922	2,269	2,285	2,197	2,049	1,920	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total noninterest income
28,070	29,947	28,007	28,524	30,943	37,317	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total noninterest income						28,070	29,947	28,007	28,524	30,943	37,317	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
NONINTEREST EXPENSE:
Salaries, commissions and employee benefits
32,935	31,766	31,461	32,956	33,892	33,147	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Salaries, commissions and employee benefits						32,935	31,766	31,461	32,956	33,892	33,147	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Loss from partial settlement of pension plan
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Loss from partial settlement of pension plan						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net occupancy expense
3,565	3,423	3,430	3,350	3,440	3,292	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net occupancy expense						3,565	3,423	3,430	3,350	3,440	3,292	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Equipment expense
2,200	2,198	2,127	2,053	2,396	2,346	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Equipment expense						2,200	2,198	2,127	2,053	2,396	2,346	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
FDIC insurance premiums
1,573	1,417	1,654	1,021	917	904	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
FDIC insurance premiums						1,573	1,417	1,654	1,021	917	904	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Debit card expense
3,284	3,221	3,199	3,054	3,013	3,200	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Debit card expense						3,284	3,221	3,199	3,054	3,013	3,200	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
ATM, interchange and credit card expenses
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
ATM, interchange and credit card expenses						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Correspondent bank service charges
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Correspondent bank service charges						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Professional and service fees
2,425	2,397	2,365	2,135	2,219	2,191	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Professional and service fees						2,425	2,397	2,365	2,135	2,219	2,191	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Printing, stationery and supplies
512	740	710	473	600	501	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Printing, stationery and supplies						512	740	710	473	600	501	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Operational and other losses
959	856	931	982	869	782	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Operational and other losses						959	856	931	982	869	782	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Software amortization and expense
2,441	2,519	2,311	2,420	2,564	2,522	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Software amortization and expense						2,441	2,519	2,311	2,420	2,564	2,522	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Amortization of intangible assets
228	228	228	299	306	320	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Amortization of intangible assets						228	228	228	299	306	320	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other
9,417	8,848	8,840	9,035	9,226	9,128	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other						9,417	8,848	8,840	9,035	9,226	9,128	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total noninterest expense
59,539	57,613	57,256	57,778	59,442	58,333	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total noninterest expense						59,539	57,613	57,256	57,778	59,442	58,333	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
EARNINGS BEFORE INCOME TAXES
60,404	62,627	64,256	70,709	71,436	72,416	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
EARNINGS BEFORE INCOME TAXES						60,404	62,627	64,256	70,709	71,436	72,416	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
INCOME TAX EXPENSE
10,848	11,754	11,688	12,041	12,095	11,922	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
INCOME TAX EXPENSE						10,848	11,754	11,688	12,041	12,095	11,922	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
NET EARNINGS BEFORE EXTRAORDINARY ITEM
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
NET EARNINGS BEFORE EXTRAORDINARY ITEM						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
EXTRAORDINARY ITEM - EXPROPRIATION OF LAND, NET OF INCOME TAXES OF $697
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
EXTRAORDINARY ITEM - EXPROPRIATION OF LAND, NET OF INCOME TAXES OF $697						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
NET EARNINGS
49,556	50,873	52,568	58,668	59,341	60,494	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
NET EARNINGS						49,556	50,873	52,568	58,668	59,341	60,494	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
NET EARNINGS PER SHARE, BASIC BEFORE EXTRAORDINARY ITEM
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
NET EARNINGS PER SHARE, BASIC BEFORE EXTRAORDINARY ITEM						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
NET EARNINGS PER SHARE, ASSUMING DILUTION BEFORE EXTRAORDINARY ITEM
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
NET EARNINGS PER SHARE, ASSUMING DILUTION BEFORE EXTRAORDINARY ITEM						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
NET EARNINGS PER SHARE, BASIC
0.35	0.36	0.37	0.41	0.42	0.42	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
NET EARNINGS PER SHARE, BASIC						0.35	0.36	0.37	0.41	0.42	0.42	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
NET EARNINGS PER SHARE, DILUTED
0.35	0.36	0.37	0.42	0.41	0.42	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
NET EARNINGS PER SHARE, DILUTED						0.35	0.36	0.37	0.42	0.41	0.42	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
DIVIDENDS PER SHARE
0.18	0.18	0.17	0.17	0.17	0.17	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
DIVIDENDS PER SHARE						0.18	0.18	0.17	0.17	0.17	0.17	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx