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1. Company Snapshot

1.a. Company Description

First Financial Bankshares, Inc., through its subsidiaries, provides commercial banking products and services in Texas.The company accepts checking, savings and money market accounts, and time deposits; commercial and industrial, municipal, agricultural, construction and development, farm, non-owner occupied and owner-occupied commercial real estate, residential, and consumer auto and non-auto loans to businesses, professional individuals, and farm and ranch operations.It also provides drive-in and night deposit, remote deposit capture, internet and mobile banking, payroll cards, transmitting funds, and other customary commercial banking services, as well as automated teller machines and safe deposit facilities.


In addition, the company offers personal trust services, including wealth management, administration of estates, testamentary trusts, revocable and irrevocable trusts, and agency accounts; and securities brokerage services, as well as administer retirements and employee benefits accounts, such as 401(k) profit-sharing plans and IRAs. Further, the company provides asset management and technology services.As of December 31, 2021, it had 78 financial centers across Texas.First Financial Bankshares, Inc.


was founded in 1890 and is headquartered in Abilene, Texas.

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1.b. Last Insights on FFIN

The recent 3 months performance of First Financial Bankshares, Inc. was negatively impacted by economic fears, despite strong earnings and revenue growth. The company's Q1 2025 earnings of $61.35 million, a 14.6% increase from the same quarter last year, were in line with expectations. However, the stock price fell due to concerns about the overall economic outlook. Additionally, the company's dividend increase, which represents a 5.6% increase, may not be enough to offset the negative sentiment. The appointment of James Hinton as President of First Financial Mortgage may bring some stability to the company's mortgage division, but its impact on the overall performance remains to be seen.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Connor Clark & Lunn Investment Management Ltd. Makes New Investment in First Financial Bankshares, Inc. $FFIN

Nov -21

Source: defenseworld.net

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Is First Financial Bankshares Stock a Buy After a Member of the Board Bought Nearly 2,000 Shares?

Nov -06

Source: fool.com

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First Financial Bankshares (FFIN) Lags Q3 Earnings Estimates

Oct -23

Source: zacks.com

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FIRST FINANCIAL BANKSHARES ANNOUNCES THIRD QUARTER 2025 EARNINGS

Oct -23

Source: prnewswire.com

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FIRST FINANCIAL BANK ANNOUNCES THE ELECTION OF TIM BROWN AS CHIEF INFORMATION OFFICER AND TRANSITION OF JOHN RUZICKA TO CHIEF BANKING OPERATIONS OFFICER

Oct -22

Source: prnewswire.com

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Head to Head Contrast: First Financial Bankshares (NASDAQ:FFIN) vs. Cullen/Frost Bankers (NYSE:CFR)

Oct -20

Source: defenseworld.net

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FIRST FINANCIAL BANK TO PARTICIPATE IN THE TEXAS BANKERS ASSOCIATION'S FIRST STATEWIDE DAY OF SERVICE

Oct -10

Source: prnewswire.com

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Bears are Losing Control Over First Financial (FFIN), Here's Why It's a 'Buy' Now

Aug -11

Source: zacks.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (9.00%)

6. Segments

Community Banking

Expected Growth: 9%

Strong community presence, diversified loan portfolio, and strategic acquisitions drive growth. 9% growth rate attributed to increased commercial lending, mortgage banking, and wealth management services. Effective cost management and digital transformation initiatives also contribute to growth.

7. Detailed Products

Checking Accounts

First Financial Bankshares, Inc. offers various checking accounts designed to meet the unique needs of individuals, families, and businesses.

Savings Accounts

The company provides a range of savings accounts with competitive interest rates, designed to help customers save for short-term and long-term goals.

Loans

First Financial Bankshares, Inc. offers a variety of loan products, including personal loans, mortgages, home equity loans, and commercial loans.

Credit Cards

The company offers a range of credit cards with competitive rates, rewards, and benefits, designed for individuals and businesses.

Investment Services

First Financial Bankshares, Inc. provides investment services, including brokerage, wealth management, and retirement planning.

Insurance Services

The company offers a range of insurance products, including life insurance, disability insurance, and long-term care insurance.

Treasury Management

First Financial Bankshares, Inc. provides treasury management services, including cash management, payment processing, and fraud prevention.

Online Banking

The company offers online banking services, allowing customers to manage their accounts, pay bills, and transfer funds online.

Mobile Banking

First Financial Bankshares, Inc. provides mobile banking services, enabling customers to access their accounts, deposit checks, and transfer funds on-the-go.

8. First Financial Bankshares, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for First Financial Bankshares, Inc. is medium due to the presence of alternative financial institutions and digital payment systems.

Bargaining Power Of Customers

The bargaining power of customers for First Financial Bankshares, Inc. is low due to the lack of concentration of buyers and the presence of multiple banking options.

Bargaining Power Of Suppliers

The bargaining power of suppliers for First Financial Bankshares, Inc. is low due to the presence of multiple suppliers and the lack of concentration of suppliers.

Threat Of New Entrants

The threat of new entrants for First Financial Bankshares, Inc. is low due to the high barriers to entry in the banking industry, including regulatory hurdles and capital requirements.

Intensity Of Rivalry

The intensity of rivalry for First Financial Bankshares, Inc. is high due to the presence of multiple competitors in the banking industry, leading to a highly competitive market.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 21.23%
Debt Cost 8.13%
Equity Weight 78.77%
Equity Cost 8.13%
WACC 8.13%
Leverage 26.96%

11. Quality Control: First Financial Bankshares, Inc. passed 4 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Commerce Bancshares

A-Score: 6.1/10

Value: 5.2

Growth: 5.7

Quality: 6.8

Yield: 4.0

Momentum: 6.0

Volatility: 9.0

1-Year Total Return ->

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Third Federal

A-Score: 5.7/10

Value: 1.5

Growth: 4.8

Quality: 3.4

Yield: 10.0

Momentum: 5.0

Volatility: 9.7

1-Year Total Return ->

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Community Bank System

A-Score: 5.7/10

Value: 4.9

Growth: 5.0

Quality: 6.5

Yield: 6.0

Momentum: 4.0

Volatility: 7.7

1-Year Total Return ->

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Glacier Bancorp

A-Score: 5.5/10

Value: 4.3

Growth: 3.9

Quality: 7.4

Yield: 6.0

Momentum: 5.0

Volatility: 6.3

1-Year Total Return ->

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Stock-Card
First Financial Bankshares

A-Score: 5.4/10

Value: 3.9

Growth: 5.8

Quality: 8.1

Yield: 4.0

Momentum: 3.0

Volatility: 7.7

1-Year Total Return ->

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Stock-Card
ServisFirst Bank

A-Score: 5.2/10

Value: 4.2

Growth: 7.1

Quality: 6.4

Yield: 3.0

Momentum: 4.0

Volatility: 6.3

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

31.13$

Current Price

31.13$

Potential

-0.00%

Expected Cash-Flows