Short answer
FIRST FINANCIAL BANKSHARES INC (FFIN) filed its fiscal 2025 10-K annual report with the SEC on Feb 25, 2026. It reported revenue of $702M (+11.7% year over year) and net income of $254M.
- Top risk flagged: Regulatory risk from ASU 2025-08 on Purchased Loans effective 2027, changing accounting for acquired seasoned loans under CECL model
FY2025 key financial metrics · XBRL
- Revenue
- $702M
- +11.7% YoY
- Net income
- $254M
- +13.5% YoY
- EPS (diluted)
- $1.77
- +13.5% YoY
- ROE
- 13.2%
- −0.7 pp YoY
- Operating cash flow
- $299M
- −3.3% YoY
Source: XBRL data from the FIRST FINANCIAL BANKSHARES INC (FFIN) FY2025 10-K on SEC EDGAR. USD.
FIRST FINANCIAL BANKSHARES INC FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Management Discussion & Analysis
- Revenue interest income $702.5M in 2025 vs $628.9M in 2024, up $73.6M YoY
- Net earnings $253.6M in 2025 vs $223.5M in 2024, net margin improved with EPS diluted $1.81 vs $1.56
- Best segment: net interest income $500.9M in 2025 vs $429.7M in 2024; worst: provision for credit losses $28.6M in 2025 vs $13.8M in 2024
- Cash and cash equivalents $1.08B in 2025 vs $763.4M in 2024, borrowings decreased from $135.6M to $21.7M, dividends declared per share $0.75 vs $0.72; repurchase agreements approx. $63M
- Management reports effective internal controls, no material control changes; key risk: judgment in allowance for credit losses; no updated forward guidance disclosed
Risk Factors
- Regulatory risk from ASU 2025-08 on Purchased Loans effective 2027, changing accounting for acquired seasoned loans under CECL model
- Macroeconomic exposure to Federal Reserve interest rate cuts totaling 125 basis points in 2024-2025, affecting loan and deposit yields
- Operational risk from reliance on municipal and related deposits of $1.52 billion indexed to short-term treasury rates, causing funding cost variability
- Competitive risk from mortgage origination income increase by 17.95% to $15.55 million due to volume and pricing, pressured by fintech mortgage platforms
- Financial risk of increasing noninterest expense by 10.69% in 2025, driven by $21.26 million (13.87%) rise in salaries and benefits impacting efficiency ratio at 45.53%
Generated from the filing text; verify against the original. How to read a 10-K
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