First Financial Bankshares, Inc. · NASDAQ:FFIN
First Financial Bankshares — Q1 2025 Earnings Presentation
40 slides from First Financial Bankshares's earnings presentation, 2025
Slide 1: 1st Quarter 2025
Continuing the Legacy.
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
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
Slide 4: Top Rated Bank in Texas by Newsweek
Top Rated Bank in Texas by Newsweek
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
Slide 6: Diverse Footprint Across Texas
Diverse Footprint Across Texas www.ffin.com/locations 5
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
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
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
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
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
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
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
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
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
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
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
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%
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
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-
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
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
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
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.
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%
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
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
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
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
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
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
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
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
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
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
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
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
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
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-
Slide 40: First Financial Bankshares, Inc.
FIRST FINANCIAL BANKSHARES, INC.”
First Financial Bankshares — Q1 2025 Earnings Presentation on 6ix