FIRST FINANCIAL BANKSHARES INC FFIN
First Financial Bankshares, Inc., a Texas corporation (the "Company"), is a financial holding company registered under the Bank Holding Company Act of 1956, as amended, or BHCA. As such, we are supervised by the Federal Reserve Board, as well as several other bank regulators. We were formed as a bank holding company in 1956 under the original name F & M Operating Company, but our banking operations date back to 1890, when Farmers and Merchants National Bank opened for business in Abilene, Texas. As of December 31, 2025, our wholly-owned subsidiaries, all of which are headquartered in Abilene, Texas, were:
•First Technology Services, Inc., a wholly-owned subsidiary of First Financial Bank;
•FFB Investment Paris Fund, LLC, a wholly-owned subsidiary of First Financial Bank;
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $702.5M | $628.9M | $528.1M | $432.9M | $376.4M | $364.1M | $319.2M | $291.7M | $246.0M | $232.3M |
| Interest expense | $500.9M | $426.7M | $383.8M | $401.4M | $6.0M | $14.2M | $30.1M | $18.9M | $9.3M | $5.5M |
| Pre-tax income | $309.6M | $271.8M | $243.3M | $280.9M | $272.0M | $242.4M | $198.0M | $178.2M | $147.2M | $135.9M |
| Income tax | $56.0M | $48.3M | $44.3M | $46.4M | $44.4M | $40.3M | $33.2M | $27.5M | $26.8M | $31.2M |
| Net income | $253.6M | $223.5M | $199.0M | $234.5M | $227.6M | $202.0M | $164.8M | $150.6M | $120.4M | $104.8M |
| EPS, basic | 1.77 | 1.56 | 1.39 | 1.64 | 1.60 | 1.42 | 1.22 | 1.11 | 0.91 | 1.59 |
| EPS, diluted | 1.77 | 1.56 | 1.39 | 1.64 | 1.59 | 1.42 | 1.21 | 1.11 | 0.91 | 1.59 |
| Shares, diluted (wtd. avg.) | $143.4M | $143.2M | $142.9M | $143.2M | $143.1M | $142.5M | $136.3M | $136.0M | $132.6M | $66.1M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $1.08B | $763.4M | $536.6M | $330.7M | $528.6M | $729.1M | $231.5M | $207.8M | $209.6M | $204.8M |
| Property, plant and equipment | $150.0M | $151.9M | $151.8M | $153.0M | $149.8M | $142.3M | $131.0M | $133.4M | $124.0M | $122.7M |
| Goodwill | $313.5M | $313.5M | $313.5M | $313.5M | $313.5M | $313.5M | $171.6M | $171.6M | $140.0M | $140.0M |
| Total assets | $15.45B | $13.98B | $13.11B | $12.97B | $13.10B | $10.90B | $8.26B | $7.73B | $7.25B | $6.81B |
| Accounts payable | — | — | — | — | — | $14.6M | — | — | — | — |
| Short-term debt | $21.7M | $135.6M | $22.2M | $23.7M | $671.2M | $430.1M | $381.4M | $468.7M | $331.0M | $445.8M |
| Total liabilities | $13.53B | $12.37B | $11.61B | $11.71B | $11.34B | $9.23B | $7.04B | $6.68B | $6.33B | $5.97B |
| Retained earnings | $1.49B | $1.34B | $1.22B | $1.12B | $981.7M | $836.7M | $466.0K | $606.7M | $517.3M | $446.5M |
| Total equity | $1.92B | $1.61B | $1.50B | $1.27B | $1.76B | $1.68B | $1.23B | $1.05B | $922.8M | $837.9M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $299.4M | $309.6M | $284.8M | $324.3M | $355.2M | $210.7M | $202.5M | $186.3M | $190.3M | $160.7M |
| Depreciation and amortisation | $13.7M | $13.4M | $12.6M | $12.8M | $13.1M | $12.8M | $11.7M | $12.5M | $12.9M | $11.6M |
| Stock-based compensation | $6.9M | $4.9M | $4.3M | $4.0M | $3.2M | — | — | — | — | — |
| Capital expenditure | $13.4M | $16.7M | $17.3M | $15.8M | $19.2M | $16.4M | $8.7M | $17.6M | $14.2M | $20.4M |
| Investing cash flow | -$1.02B | -$736.9M | $127.3M | -$838.0M | -$2.61B | -$1.26B | -$447.8M | -$273.3M | -$398.0M | -$252.0M |
| Financing cash flow | $1.03B | $654.1M | -$206.2M | $315.8M | $2.06B | $1.50B | $279.3M | -$36.8M | $323.6M | $74.8M |
| Dividends paid | $106.0M | $102.9M | $100.0M | $91.3M | $79.7M | $70.3M | $61.1M | $53.9M | $49.0M | $44.9M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-071549.
Others in SIC 6022
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| BNY | Bank of New York Mellon Corp | $111.84B | 22.3x | 7.8% |
| STT | STATE STREET CORP | $53.36B | 20.7x | 7.3% |
| FITB | FIFTH THIRD BANCORP | $49.76B | 15.5x | -5.0% |
| MTB | M&T BANK CORP | $34.64B | 14.1x | 7.5% |
| NTRS | NORTHERN TRUST CORP | $34.15B | 21.4x | 6.1% |
| CFG | CITIZENS FINANCIAL GROUP INC/RI | $29.81B | 18.3x | 6.7% |
| FCNCA | FIRST CITIZENS BANCSHARES INC /DE/ | $25.48B | 13.4x | -2.2% |
| EWBC | EAST WEST BANCORP INC | $17.92B | 13.7x | 2.4% |