First Financial Bankshares Inc

First Financial Bankshares is the parent company of First Financial Bank, a community bank based in Abilene, Texas, whose roots date to 1890. As of December 31, 2025, it ran 79 financial centers, all in Texas, mainly in Central, North Central, Southeast and West Texas. It favors small and mid-size towns, where it says competition is often less intense, and suburban areas near Dallas/Fort Worth and Houston. Each of its eight regions has a local president and advisory board, which keeps decisions close to customers.

Like most banks, it earns most of its money from net interest income. That is the gap between what it collects on loans and investments and what it pays depositors and lenders. In 2025 that was $500.9 million of $631.6 million in revenue. The other $130.7 million was noninterest income, including fees from its trust and wealth management company. That company has offered trust services since 1927 and handles estates, IRAs and 401(k) plans, plus oil and gas and farm and ranch management.

Customers range from households and small businesses to corporations, non-profits and local governments, and no single customer is critical. The company has grown by winning customers, opening branches and making 14 bank acquisitions since 1997. Total assets rose from $1.57 billion to $15.45 billion by December 31, 2025. It still holds less than 1% of Texas deposits.

• In Q2 FY2026 (ended Jun 30, 2026), revenue was $172.8M, up 10.3% from a year earlier, and net income was $71.9M (+7.9%).
• For fiscal 2025, revenue was $631.6M (+14.7% year over year; +5.2% a year from FY2020 to FY2025) with a 40.1% net margin.

• Over FY2021–FY2025: $12.2M in buybacks and $479.9M in dividends.
• At least 9 consecutive annual increases: every fiscal year in the SEC data (FY2016–FY2025) shows an increase; the true streak may be longer.
• Regular dividends per share grew +8.0% a year over 5 years (FY2020–FY2025).
• Dividends took 41.8% of earnings in the latest fiscal year.
• Shares outstanding changed +0.6% from Nov 2, 2021 to Aug 4, 2026.

Rank among 1514 US companies

Market value at each year end

First Financial Bankshares’s market value went from $2.99B at the end of 2016 to $4.34B on Oct 28, 2026, up 45%; since the end of 2025 it is up 2%.

Form 4 filings from 2025-10-31 to 2026-10-31 (25 read): 6 open-market purchases ($307K) and 1 sales ($524K).

Large shareholders (13G filings)

ETFs with the most weight in FFIN

1. All of its business is in Texas. The bank operates only in Texas. A slump in the state's economy, or in local industries like agriculture and natural resources, would hurt borrowers and deposits, with no other region to cushion it.
2. Borrowers are mostly smaller businesses. The bank lends mainly to small and medium-sized businesses, which often have less cash and credit to fall back on than large companies. In a recession, more could miss payments, raising loan losses.
3. Hurricanes, tornadoes and drought. Its markets run from Southeast Texas cities like Beaumont and Port Arthur to rural West Texas. Hurricanes, tornadoes and long droughts can damage property pledged as collateral and hurt borrowers' ability to repay.
4. Growth depends partly on acquisitions. It has made 14 bank acquisitions since 1997. Fewer suitable targets or a deal that goes badly could slow earnings growth. Paying with new shares can shrink existing owners' slice of the company.
5. A small player among larger rivals. With less than 1% of Texas deposits, it competes with banks, credit unions and financial technology (fintech) firms. Some are far larger, with more capital and staff to invest in new technology.
6. Interest rate swings can squeeze profits. Most profit comes from the gap between what loans earn and what deposits cost. If that gap narrows, whether rates rise or fall, earnings shrink. Rate moves also shift the value of its bonds.

• Oct 16, 2026 Quarterly results released
• Jul 31, 2026 Other company announcement
• Jul 17, 2026 Quarterly results released
• Apr 30, 2026 Investor presentation or announcement
• Apr 29, 2026 Shareholder vote results; Investor presentation or announcement
• Apr 17, 2026 Acquisition or sale of assets completed
• Jan 29, 2026 Executive or board change; Investor presentation or announcement
• Jan 23, 2026 Quarterly results released

First Financial has raised its regular dividend at least nine years in a row through 2025, and the streak may be longer. The dividend reached $0.75 per share for 2025, up from $0.51 in 2020, about 8% growth a year. Dividends paid equaled 41.8% of 2025 earnings, so most profit stayed in the business. The yield was 2.71% as of October 28, 2026. Share buybacks were small: $12.2 million over 2021–2025, against $479.9 million in dividends. Dividends are not guaranteed, and the parent company relies on payouts from its bank to fund them.

The stock has dropped sharply in downturns. It fell 34.7% in the 2008 financial crisis and 31.9% in the 2020 COVID crash, recovering in about 9 and 8 months respectively. In the 2022 bear market it fell 29% and had not regained its January 2022 high as of October 28, 2026. A single bank stock carries more risk than a diversified fund.