Business
FIRST FINANCIAL BANKSHARES ANNOUNCES FOURTH QUARTER 2021 EARNINGS AND 35TH YEAR OF CONSECUTIVE ANNUAL EARNINGS GROWTH
ABILENE, Texas, Jan. 27, 2022 /PRNewswire/ -- First Financial Bankshares, Inc. (NASDAQ: FFIN) today reported earnings for the fourth quarter of 2021 of $55.34
About this update from First Financial Bankshares, Inc.
[{"type":"text","content":"ABILENE, Texas, Jan. 27, 2022 /PRNewswire/ -- First Financial Bankshares, Inc. (NASDAQ: FFIN) today reported earnings for the fourth quarter of 2021 of $55.34 million compared to earnings of $58.48 million for the same quarter a year ago. Basic and diluted earnings per share were $0.39 for the fourth quarter of 2021 compared with $0.41 for the same quarter a year ago.\nEarnings for the year ended December 31, 2021 totaled $227.56 million compared to $202.03 million for the year ended December 31, 2020, reflecting an increase of $25.53 million, or 12.64 percent. Basic and diluted earnings per share were $1.60 and $1.59, respectively, for the year ended December 31, 2021 compared with basic and diluted earnings per share of $1.42 for the year ended December 31, 2020.\n\"Over the last two years, we have remained focused on the execution of our excellence in customer service culture across each of our markets to meet the needs of our customers during these times. Whether it was providing PPP funds, keeping our branches open, accessing the Mainstreet Lending Program, providing access to the mortgage secondary markets, protecting their deposits, or providing capital to grow and expand their business, we remained TEXAS STRONG for our communities. We finished 2021 with outstanding growth reflected by overall loan growth, excluding PPP loans, of $648.81 million, or 13.84 percent, and deposit growth of $1.89 billion, or 21.79 percent. Our continual commitment to customer service supported by our growth provides strong momentum as we begin 2022. We appreciate the continued support of our customers, shareholders and associates,\" said F. Scott Dueser, Chairman, President and CEO of First Financial Bankshares, Inc.\nNet interest income for the fourth quarter of 2021 was $94.81 million compared to $90.54 million for the fourth quarter of 2020. Average-earning assets increased to $11.89 billion for the fourth quarter of 2021 compared to $9.96 billion a year ago. The net interest margin, on a taxable equivalent basis, was 3.29 percent for the fourth quarter of 2021 compared to 3.75 percent in the fourth quarter of 2020.\nInformation related to the Company's Paycheck Protection Program (\"PPP\") loans is included in the following table (dollars in thousands):\nPPP Loans Originated\nPPP Amounts as of December 31, 2021\nNumber of Loans\nAmount\nNu...