First Financial Profit Tops Estimates

(RTTNews) - First Financial Bankshares Inc (FFIN) on Thursday reported first-quarter net earnings of $24 million or $0.37 per share compared with $22.3 million or $0.35 per share last year.

Analysts polled by Thomson Reuters estimated earnings of $0.36 per share for the quarter. Analysts' estimates typically exclude special items.

The company said its net interest income for the quarter rose to $51.1 million from $47.2 million a year ago, while non interest income slid to $15.9 million from $16.4 million.

Analysts estimated revenues of $70.9 million for the quarter.

Net interest margin for the quarter, on a taxable equivalent basis, was 4.11 percent compared with 4.32 percent in the prior year, the company said.

The provision for loan losses was lower at $1.29 million for the quarter compared with $1.69 million last year.