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Jun 30, 2022
First Financial Q2 2022 Earnings Report
First Financial Bankshares' second quarter earnings increased compared to the same quarter last year.
Key Takeaways
First Financial Bankshares reported earnings of $60.49 million for the second quarter of 2022, an increase from $56.38 million for the same quarter a year ago. Loan growth, excluding PPP and held-for-sale loans, was $325.85 million, and deposit growth was $123.16 million.
Earnings were $60.49 million for the second quarter of 2022, compared to $56.38 million for the same quarter a year ago.
Basic and diluted earnings per share were $0.42 for the second quarter of 2022, compared with $0.40 and $0.39, respectively, for the second quarter of 2021.
Loan growth, excluding PPP and held-for-sale loans, was $325.85 million, or 23.5 percent annualized.
Deposit growth was $123.16 million, or 4.49 percent annualized, with the addition of over 6,500 net new accounts year-to-date.
Revenue by Segment
Forward Guidance
The company is actively monitoring changes in interest rates and the overall economic environment and is prepared for the opportunities ahead as the Texas economy continues to be strong and resilient.
Positive Outlook
- The company has been able to keep the momentum that was created from the movement of non-customers to our bank during the pandemic.
- Outstanding growth this quarter reflected by overall loan growth, excluding PPP and held-for-sale loans.
- Deposit growth with the addition of over 6,500 net new accounts year-to-date.
- Texas economy continues to be strong and resilient.
- The company appreciates the continued support of its customers, shareholders and associates.
Challenges Ahead
- An increase in the provision for credit losses.
- A decrease in PPP loan origination fees.
- A decrease in mortgage revenues.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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