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Sep 30, 2022
First Financial Q3 2022 Earnings Report
Reported earnings of $59.34 million for the third quarter of 2022, reflecting continued momentum driven by customer service excellence and strong loan growth.
Key Takeaways
First Financial Bankshares reported earnings of $59.34 million for Q3 2022, a slight increase from $58.93 million in the same quarter last year. The results reflect strong loan growth, excluding PPP and held-for-sale loans, and deposit growth, offset by a decline in PPP loan origination fees and interest, an increase in the provision for credit losses, and decreases in debit card fees and mortgage revenues.
Earnings for Q3 2022 were $59.34 million, compared to $58.93 million for Q3 2021.
Diluted earnings per share were $0.41 for both Q3 2022 and Q3 2021.
Net interest income increased by $7.37 million due to balance sheet growth, but was offset by a decline in PPP loan origination fees and interest of $8.19 million.
Loans, excluding PPP and held-for-sale loans, grew by $379 million, or 25.6 percent annualized, and deposit growth of $19.14 million through the addition of over 9,300 net new accounts year-to-date.
Revenue by Segment
Forward Guidance
The company remains focused on serving customers and delivering solid results while actively managing the impact of the current interest rate, regulatory and economic environments.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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