First Financial Bankshares, Inc. announced net earnings of $55.31 million for the third quarter of 2024, an increase from $52.49 million in the second quarter of 2024 and $49.56 million in the third quarter of 2023. Diluted earnings per share reached $0.39 for the quarter, up from $0.37 in the previous quarter and $0.35 a year ago.
The company reported net interest income of $107.11 million for the third quarter of 2024, compared to $103.27 million in the second quarter of 2024. The tax-equivalent net interest margin expanded to 3.50% from 3.48% in the prior quarter and 3.22% in the third quarter of 2023, indicating improved profitability from interest-earning assets.
Loans held-for-investment totaled $7.72 billion at September 30, 2024, growing by $203.46 million during the quarter. Deposits and Repurchase Agreements also increased by $265.31 million to $11.81 billion, demonstrating continued balance sheet growth. The efficiency ratio improved to 46.45% from 47.62% in the prior year, reflecting better cost management.
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