FIRST FINANCIAL BANKSHARES INC
For the period ended Sep 30, 2024. Filed Nov 4, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 4, 2024
FFIN$30.41-0.9%Stored close · as of Nov 6, 2026
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Consolidated Statements of Cash Flows – Unaudited
(Dollars in thousands)
| Nine-Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net earnings | $161,190 | $152,997 |
| Adjustments to reconcile net earnings to net cash provided by operating activities: | ||
| Depreciation and amortization | 9,924 | 9,290 |
| Provision for credit losses | 12,817 | 10,631 |
| Securities premium amortization, net | 34,041 | 40,376 |
| Gain on sale of securities and other assets, net | (181) | (735) |
| Deferred federal income tax benefit | 1,011 | 1,789 |
| Stock-based compensation | 3,434 | 3,033 |
| Net tax benefit from stock-based compensation | 220 | 269 |
| Change in loans held-for-sale | (5,754) | (312) |
| Change in other assets | (8,218) | (371) |
| Change in other liabilities | 16,686 | 9,126 |
| Total adjustments | 63,980 | 73,096 |
| Net cash provided by operating activities | 225,170 | 226,093 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Activity in available-for-sale securities: | ||
| Sales | — | 320,419 |
| Maturities | 4,536,702 | 333,273 |
| Purchases | (4,351,769) | (3,322) |
| Net increase in loans held-for-investment | (574,867) | (553,762) |
| Purchases of bank premises, equipment and software | (11,946) | (13,386) |
| Proceeds from sale of bank premises and equipment and other assets | 1,555 | 3,740 |
| Net cash provided by (used in) investing activities | (400,325) | 86,962 |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Net increase (decrease) in noninterest-bearing deposits | (132,443) | (584,235) |
| Net increase in interest-bearing deposits | 750,004 | 295,250 |
| Net increase (decrease) in repurchase agreements and borrowings | (320,546) | 109,036 |
| Common stock transactions: | ||
| Proceeds from stock option exercises/stock unit conversions/restricted stock activity | 2,387 | 1,483 |
| Dividends paid | (77,174) | (74,247) |
| Repurchases of stock | — | (2,735) |
| Net cash provided by (used in) financing activities | 222,228 | (255,448) |
| NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 47,073 | 57,607 |
| CASH AND CASH EQUIVALENTS, beginning of period | 536,591 | 330,678 |
| CASH AND CASH EQUIVALENTS, end of period | $583,664 | $388,285 |
| SUPPLEMENTAL INFORMATION AND NONCASH TRANSACTIONS: | ||
| Interest paid | $153,215 | $87,127 |
| Federal income taxes paid | 31,173 | 35,529 |
| Investment securities purchased not settled | 5,416 | 2,500 |
| Transfer of loans to other real estate | 1,156 | 190 |
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