First Financial Q3 2020 Earnings Report
Key Takeaways
First Financial Bankshares reported a strong third quarter of 2020, with earnings of $52.86 million, a 22.69% increase compared to $43.08 million in the third quarter of 2019. The company benefited from its 'TEXAS STRONG' initiative, which facilitated growth in loans, deposits, and trust assets, and was aided by the acquisition of TB&T Bancshares, Inc.
Earnings for the third quarter of 2020 were $52.86 million, up from $43.08 million in Q3 2019.
Basic and diluted earnings per share were $0.37 for Q3 2020, compared to $0.32 in Q3 2019.
Net interest income for the third quarter of 2020 was $89.21 million, an increase of $16.57 million from $72.64 million in Q3 2019.
Mortgage income increased to $15.23 million compared to $5.73 million in the third quarter of 2019 due to a significant increase in the volume of loans originated
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Forward Guidance
The Company is optimistic about finishing the year strong and rolling right into 2021.