First Financial Bankshares, Inc. · NASDAQ:FFIN

First Financial Bankshares — Q1 2025 Earnings Presentation

40 slides from First Financial Bankshares's earnings presentation, 2025

  1. Slide 1: 1st Quarter 2025

    Continuing the Legacy.

  2. Slide 2: Forward Looking Statement

    Forward Looking Statement The numbers, as of and for the quarter ended March 31, 2025, contained within this presentation are unaudited. Certain statements contained herein may be considered “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. These statem

  3. Slide 3: Who We Are

    Who We Are  $14.3 billion financial holding company headquartered in Abilene, Texas  Group of 8 separate bank regions  Trust and Asset Management Company with 9 locations and manages approximately $10.9 billion in assets  135 year history

  4. Slide 4: Top Rated Bank in Texas by Newsweek

    Top Rated Bank in Texas by Newsweek

  5. Slide 5: What Makes Us Different

    What Makes Us Different One Bank, Eight Regions Concept  One Bank  Consolidation of credit, customer contact center, internal audit, accounting, technology, human resources, risk management, training, and compliance (drives lower efficiency ratio)  Eight Regions  Regional Presidents run their re

  6. Slide 6: Diverse Footprint Across Texas

    Diverse Footprint Across Texas www.ffin.com/locations 5

  7. Slide 7: Recent De Novo Growth

    Recent De Novo Growth  Franklin: Branch of Bryan / College Station – August 2023  Lumberton: Branch of Orange – December 2022  Bryan / College Station: Office of Trust Company – September 2020  Austin: Office of the Mortgage Company – January 2020  Grand Parkway (Spring): Branch of Conroe – Ope

  8. Slide 8: FFIN’s Unique Positioning in Texas

    FFIN’s Unique Positioning in Texas Bank Key Markets Stellar Houston, Beaumont, Dallas Comerica DFW, Austin, Houston, California, Michigan, Florida, Mexico Frost San Antonio, Austin, Corpus Christi, DFW, Rio Grande, West Texas Guaranty Dallas, East Texas, Bryan International Bancshares Rio Grande, Ho

  9. Slide 9: Customer Service First (CS1st)

    Customer Service First (CS1st)  Began CS1st initiative in 2005 with Dennis Snow (former Disney executive charged with Disney’s customer experience).  Implemented the Service Improvement Team with ten distinct teams with various strategic objectives.  Key Successes  Established a robust employee

  10. Slide 10: Executive Management Team at First Financial

    Executive Management Team at First Financial Years with Company Years in Industry Scott Dueser Chairman of the Board & 49 54 Chief Executive Officer David Bailey President 22 22 First Financial Bankshares, Inc. Ron Butler Vice Chairman of the 32 43 Executive Management Committee Michelle Hickox Exec

  11. Slide 11: Executive Management Team at First Financial

    Executive Management Team at First Financial Years with Company Years in Industry Kyle McVey, CPA Executive Vice President Chief Accounting Officer & 14 16 Investor Relations Director Randy Roewe Executive Vice President 10 35 Chief Risk Officer John Ruzicka Executive Vice President 6 46 Chief Infor

  12. Slide 12: Senior Leadership

    Senior Leadership Years with Company Years in Industry Rett Everett Executive Vice President 3 22 Credit Administration - DFW Keith Morton Executive Vice President 1 21 Credit Administration – Southeast Texas Michael Parker Executive Vice President 2 17 Chief Compliance Officer Javier Jurado Executi

  13. Slide 13: Line of Businesses Executives

    Line of Businesses Executives Years with Company Years in Industry Josh Brown Senior Vice President 10 16 Human Resources Frank Gioia Senior Vice President 9 37 Customer Care Center Brandon Harris Senior Vice President 9 22 Appraisal Services Lori Hill Executive Vice President 27 34 Retail James Hin

  14. Slide 14: Line of Businesses Executives

    Line of Businesses Executives Years with Company Years in Industry Chris Schjetnan Executive Vice President 12 20 Community Lending and Outreach Andrea Smiddy-Schlagel Executive Vice President 6 36 Treasury Management Dan Summerford Executive Vice President 1 30 Director of Middle Market Lending Vio

  15. Slide 15: Experienced Regional CEOs & Presidents

    Experienced Regional CEOs & Presidents Years with Company Years in Industry Marelyn Shedd, Abilene (CEO) 34 42 Marshall Morris, Abilene (President) 14 14 Nora Thompson, Bryan/College Station (CEO) 5 34 Austin Bryan, Bryan/College Station (President) 5 36 Marcus Morris, Chisholm Trail (CEO) 15 17 Aus

  16. Slide 16: Total Asset Growth

    Total Asset Growth (in millions) *As of March 31, 2025 $13,979 $14,312* $13,102 $12,974 $13,106 $10,905 2020 2021 2022 2023 2024 2025

  17. Slide 17: Total Deposit Growth

    Total Deposit Growth (in millions) *As of March 31, 2025 Noninterest-Bearing Interest-Bearing $12,099 $12,467* $11,006 $11,138 $10,566 $8,676 $6,944 $8,751 $9,110 $6,786 $7,703 $5,693 $3,780 $4,062 $3,435 $3,348 $3,357 $2,983 2020 2021 2022 2023 2024 2025

  18. Slide 18: Deposit Products - $12.5 Billion

    Deposit Products - $12.5 Billion Time 7.3% Non-interest Money bearing Market checking 17.8% 26.9% NOW & Savings 48.0%

  19. Slide 19: Total Loan Growth

    Total Loan Growth *As of March 31, 2025 (in millions) $7,960* $7,921 $7,163 $6,454 $5,255 $5,427 2020 2021 2022 2023 2024 2025

  20. Slide 20: Overview of Loan Portfolio – $8.0 Billion

    Overview of Loan Portfolio – $8.0 Billion Real Estate – C&D: Residential Development – 74.96% Real Estate – C&D Commercial Development – 25.04% 13.82% Municipal 4.26% Real Estate - Non Owner Agriculture 9.49% 1.14% Real Estate - Owner Real Estate - Farm 14.38% 4.17% Commercial 14.40% Consumer - Non-

  21. Slide 21: Commercial R/E Overview

    Commercial R/E Overview  Diversified mix of CRE by Property type  Balanced portfolio across all of Texas, with less than 2% of loans located outside of the State  Excellent credit quality, 2.3% of CRE loans are classified, and less than 1.3% are non- performing (as a percentage of total CRE loans

  22. Slide 22: Loan to Deposit Ratio

    Loan to Deposit Ratio *As of March 31, 2025 2020 2021 2022 2023 2024 2025 End of Period 60.6 51.4 58.6 64.3 65.1 63.8* Peer 79.4 72.8 80.9 83.9 82.5 Group

  23. Slide 23: Sound Lending Practices

    Sound Lending Practices *As of March 31, 2025 Nonperforming assets as a percentage of loans + foreclosed assets (FFIN vs. Peers) 2020 2021 2022 2023 2024 2025 First Financial 0.83% 0.63% 0.38% 0.49% 0.80% 0.78%* Peer Group 0.97% 0.71% 0.59% 0.75% 1.05% *As of March 31, 2019

  24. Slide 24: Allowance for Credit Losses and Provision for Loan Losses

    Allowance for Credit Losses and Provision for Loan Losses* (in thousands) *As of March 31, 2025 $98,325 $101,080 $88,734 $75,834 $66,534 $63,465 $16,048 $15,050 $13,048 $11,540 $2,991 * $(2,089) 2020 2021 2022 2023 2024 2025 *Excludes reserve and provision for unfunded commitments.

  25. Slide 25: Summary of Bond Portfolio - $4.76 Billion

    Summary of Bond Portfolio - $4.76 Billion Treasuries 4.49% CMBS 13.14% Corporates/Other 2.24% Muni MBS 29.61% 50.52%

  26. Slide 26: Growth in Trust Assets

    Growth in Trust Assets Total Trust Assets – Book Value / Fair Value (in millions) - Full year and 1st 3 months *As of March 31, 2025 $10,834 $10,864 * $9,781 $8,699 $8,755 $8,305* $8,115 $7,510 $7,550 $6,297 $5,880 $5,398 2020 2021 2022 2023 2024 2025

  27. Slide 27: Total Trust Fees

    Total Trust Fees Growth in FFTAM Fees (in thousands) - Full year and 1st 3 months *As of March 31, 2025 $47,449 (in millions) $39,995 $40,456 $36,145 $29,531 $11,379 $12,653 * $9,817 $9,845 $7,437 $8,299 2020 2021 2022 2023 2024 2025

  28. Slide 28: Total Trust Net Income

    Total Trust Net Income Growth in FFTAM Income (in thousands) - Full year and 1st 3 months *As of March 31, 2025 (in millions) $25,724 $20,857 $21,624 $17,723 $14,471 $6,081 $6,915 * $5,135 $5,306 $3,755 $4,067 2020 2021 2022 2023 2024 2025

  29. Slide 29: Strong Historical Earnings

    Strong Historical Earnings Full year and 1st 3 months (in millions) *As of March 31, 2025 $227.6 $234.5 (in millions) $223.5 $202.0 $199.0 $56.9 $56.0 $52.6 $61.3 * $53.4 $37.2 2020 2021 2022 2023 2024 2025

  30. Slide 30: Strong Shareholders Earnings

    Strong Shareholders Earnings Diluted Earnings Per Share *As of March 31, 2025 (in millions) $1.59 $1.64 $1.56 $1.42 $1.39 $0.40 $0.39 $0.43 $0.37 $0.37 $0.26 2020 2021 2022 2023 2024 2025

  31. Slide 31: FFIN Outperforms Peers

    FFIN Outperforms Peers Return on Average Assets 2.08% 1.98% 1.89% 1.76% 1.68% 1.55% 1.19% 1.26% 1.11% 0.82% 0.89% 0.88% 2019 2020 2021 2022 2023 2024 First Financial Peer Group

  32. Slide 32: Strong Return on Capital

    Strong Return on Capital Return on Average Equity 16.72% 14.99% 14.51% 14.37% 12.93% 13.31% 11.94% 11.16% 10.58% 9.14% 8.45% 7.26% 2019 2020 2021 2022 2023 2024 First Financial Peer Group

  33. Slide 33: Strong Return on Capital

    Strong Return on Capital Return on Average Tangible Equity *As of March 31, 2025 21.59% 19.65% 18.24% 18.68%* 16.25% 16.35% 2020 2021 2022 2023 2024 2025

  34. Slide 34: Net Interest Margin

    Net Interest Margin Quarterly Interest Margin 4.50% 4.30% 4.10% 3.90% 3.74% 3.70% 3.50% 3.30% 3.10% 2.90% 2.78% 2.70% 2.50% 4th Qtr. 1st Qtr. 2nd Qtr. 3rd Qtr. 4th Qtr. 1st Qtr. 2nd Qtr. 3rd Qtr. 4th Qtr. 1st Qtr. 2nd Qtr. 3rd Qtr. 4th Qtr. 1st Qtr. '21 '22 '22 '22 '22 '23 '23 '23 '23 '24 '24 '24 '2

  35. Slide 35: Uninsured/Uncollateralized Deposits

    Uninsured/Uncollateralized Deposits Total Deposits - $12.47 Billion Uninsured / Uncollateralized Percentage Coverage Ratio of Uninsured and Uncollateralized Deposits Total Deposits 12,466,771 Less: Insured and/or Collateralized Deposits 8,366,691 Total Deposits – Uninsured / Uncollateralized 4,100,0

  36. Slide 36: Working Smarter

    Working Smarter Efficiency Ratio (FFIN vs. Peers) 2020 2021 2022 2023 2024 2025 First Financial 45.49% 45.84% 42.77% 47.26% 47.23% 46.36%* Peer Group 61.85% 58.80% 57.36% 62.76% 62.96% *For the three months ended March 31, 2025

  37. Slide 37: Dividends Per Share

    Dividends Per Share Annual Dividends Declared Per Share $0.71 $0.72 $0.66 $0.58 $0.51 2020 2021 2022 2023 2024

  38. Slide 38: Strong Stock Performance

    Strong Stock Performance 800.00% 700.00% 600.00% 500.00% 400.00% 300.00% 200.00% Dec. 100.00% ’19 0.00% -100.00% Dec. ’17 Jan . ‘07 Dec Dec ‘07‘08 Dec.Dec ‘10. ‘09 Dec. ’12 Dec. Dec. ’14 Dec. ’16 Dec. ’18 Dec. ’20 Dec. ’22 Dec.’24 Mar.’25 ’11 FFIN S&P 500 NASDAQ Dow Jones 48

  39. Slide 39: Stock Performance

    Stock Performance if you bought 100 shares in 1973, you'd have... Net Income Period - End Mkt. Value $250,000,000 $2,000,000 $1,800,000 $200,000,000 $1,600,000 $1,400,000 $150,000,000 $1,200,000 $1,000,000 $00,000,000 $800,000 $600,000 $50,000,000 $400,000 $200,000 $0 = _— $0 Mi Net Income ==Period-

  40. Slide 40: First Financial Bankshares, Inc.

    FIRST FINANCIAL BANKSHARES, INC.”

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