First Financial Bankshares Inc (FFIN) News & EventsFFINNews & EventsFirst Financial Bankshares Inc

First Financial Updates Share Repurchase Plan to 7.2 Million Shares

First Financial announced the renewal and increase in the size of its share repurchase plan through July 31, 2027. Pursuant to the renewed plan, the company may repurchase up to 7.2M shares of its common stock, representing approximately 5% of the company's outstanding shares as of July 28. The Board of Directors previously authorized the repurchase of up to 5M shares of common stock through July 31. The share repurchase plan authorizes management to repurchase shares at such time and price as repurchases are considered beneficial to the company and its stockholders. Under the repurchase plan, there is no minimum number of shares that the company is required to repurchase.

Nasdaq Composite Falls 1.5%, Netflix Guides Below Expectations

More pain in the tech arena drove major indices lower on Thursday, with Nasdaq Composite's 1.5% decline seen as the biggest retreat.  The 0.5% decline in S&P 500 also cut into the benchmark's two-day rally as  Communication Services - yesterday's best performing sector - was today's worst performing sector, as Alphabetand Meta Platformsfell 4.4% and 2.5% respectively.  Investors are turning more selective with regards to hyperscalers as Microsoftand Applecontinued their advance, though the selloff in the hardware, semiconductors and memory has become more indiscriminate.  Software was the winning area in the tech space as IBMbounced back with 4% following its 25% post-pre-announcement decline on Tuesday.  Outside of tech, Consumer Defensive, Real Estate, and Healthcare were the top three performing sectors in the S&P 500.In the opening hour of the evening session S&P, E-minis, and Nasdaq 100 contracts are down by about a decimal.  In commodities, WTI Crude Oil is back but just barely below $80 per barrel.  Precious metals were also under pressure, with Gold moving further below $4000 and Silver now below $56 per ounce.Key earnings afterhours saw the spotlight fall on Netflix, which was in-line on Q2 results but guided Q3 below consensus, sending shares to their lowest levels since late 2024.  Alcoawas also down modestly following a miss on both earnings and revenue in the quarter.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER -Construction Partnersup 4.5% after admission into S&P SmallCap 600 indexSweetgreenup 2.1% after reports that Taylor Farms may be linked to parasitic illness outbreakDOWN AFTER EARNINGS -Intuitive Surgicaldown 11.8%Independent Bankdown 9.4%Netflixdown 8.6%STAAR Surgicaldown 8.5%First Financial Banksharesdown 3.4%Alcoadown 3.2%F.N.B. Corporationdown 2.6%

Q2 Net Interest Margin Rises to 3.90%

Reports Q2 net interest margin, on a tax-equivalent basis, 3.90% vs. 3.81% last year and 3.86% for Q1. Tangible book value was $11.75 at quarter end vs. $11.38 at previous quarter end. Common equity Tier 1 capital ratio was 20.40% vs. 20.23% last quarter. "Our Q2 results reflect solid year-over-year earnings growth, highlighted by expansion in our net interest margin and continued increases in fee income generated by wealth management and mortgage banking," said CEO David Bailey. "As we look ahead, we remain focused on disciplined growth, prudent risk management and creating long term value for shareholders. We appreciate the dedication of our associates across Texas and their commitment to serving our customers and communities with excellence."