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Income Statement
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Unit Economics
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FIRST FINANCIAL BANKSHARES INC (FFIN)

Income Statement

Standardized | As Reported Annual | Quarterly | TTM
  Older >>
In millions, except per share itemsDec-31-21Dec-31-20Dec-31-19Dec-31-18Dec-31-17Dec-31-16Dec-31-15Dec-31-14
   10-K10-K10-K10-K10-K10-K10-K10-K
    Interest income:  
        Interest income on loans  271.6263.3224.6200.3166.8161.0151.7136.7
        Interest income on investments  104.099.992.789.777.570.969.861.5
       376.4364.1319.2291.7246.0232.3221.6198.5
    Interest expense:  
        Interest on deposits  5.713.127.116.98.24.53.63.9
       5.713.127.118.99.35.54.14.2
Net interest income  382.1377.2346.3272.8236.7226.8217.5194.4
Provision for loan losses  -1.119.53.05.7    
Net interest income after provision for loan losses  383.2357.7343.3267.1236.7226.8217.5194.4
        Deposit and loan fees     21.719.4 17.216.9
        Gain on sale of investments, net     1.41.8 0.40.0
        Other non-interest income  142.2139.9108.478.769.885.155.849.7
Total non-interest income  142.2139.9108.4101.891.085.173.466.6
Non-interest expenses  241.7227.9196.5190.7174.0165.8149.5137.9
Pre-tax income before non-recurring items  272.0242.4198.0178.0146.8136.1131.0118.6
Non-recurring items     -0.1-0.40.2-0.80.0
Pre-tax income  272.0242.4198.0178.2147.2135.9131.8118.6
Income taxes  44.440.333.227.526.831.231.429.0
            Tax rate  16.3%16.6%16.8%15.5%18.2%22.9%23.8%24.5%
Net income  227.6202.0164.8150.6120.4104.8100.489.6
            Net margin  43.3%40.6%36.5%40.8%36.7%33.6%34.5%34.3%
   
Basic EPS  $1.60$1.42$1.22$1.11$0.91$1.59$1.55$1.40
Diluted EPS  $1.59$1.42$1.21$1.11$0.91$1.59$1.54$1.39
   
Shares outstanding (basic)  142.3142.0135.6135.2132.366.064.964.0
Shares outstanding (diluted)  143.1142.5136.3136.0132.666.165.164.3
   
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.  

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