First Financial Bankshares Profit Rises

(RTTNews) - First Financial Bankshares Inc (FFIN) Thursday reported first-quarter net earnings of $22.3 million or $.70 per share, compared with $18.6 million or $0.59 per share last year.

On average, eight analysts polled by Thomson Reuters projected earnings of $0.66 per share for the quarter.

Net interest income for the quarter increased 22 percent to $47.2 million from $38.7 million a year ago. Net interest margin was 4.32 percent, up 13 basis points from last year.

Non interest income increased 17.5 percent to $16.4 million from $14 million in the prior year.

Analysts projected revenues of $66.3 million for the quarter.

The provision for loan losses was $1.7 million in the quarter, compared with $401 thousand last year.