Overview

* First Financial Q2 net income rise 27% yr/yr to $66.66 mln

* Net interest income grows to $123.73 mln

* Provision for credit losses falls to $3.13 mln from $5.89 mln a year ago

Outlook

* Company expects for the remainder of the yearto improve investment yields and continue loan growth

* First Financial aims to focus on growing deposits in its markets

Result Drivers

* LOAN AND DEPOSIT GROWTH - Co attributes earnings growth to healthy loan and deposit expansion, per CEO F. Scott Dueser

* IMPROVED MARGINS - Increased average yields on loans and securities contributed to higher net interest margin

* TRUST REVENUE - Growth in trust fee income driven by increased market value of trust assets

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Net $123.73

Interest mln

Income

Q2 Basic $0.47

EPS

Q2 $3.13

Credit mln

Loss

Provisio

n

Q2 Net 3.8%

Interest

Margin

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the banks peer group is "buy."

* Wall Street's median 12-month price target for First Financial Bankshares Inc ( FFIN ) is $36.50, about 0.5% above its July 16 closing price of $36.32

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)