First Financial Bankshares Inc. has reported earnings for the first quarter of 2009 of $13.70 million, an increase of 4.1 percent from the same quarter last year.
Basic earnings per share increased 4.8 percent to 66 cents in the first quarter of 2009, compared with 63 cents in the same period last year.
Net interest income for the first quarter of 2009 increased 7 percent to $31.92 million compared with $29.83 million in the same quarter last year. Noninterest income in the first quarter declined 6.3 percent to $11.54 million compared with $12.31 million a year ago. The provision for loan losses was $1.76 million in the first quarter, up from $1.07 million last year.
As of March 31, consolidated assets for the company totaled $3.12 billion compared with $3.06 billion a year ago.
"We are pelased with our first quarter results given the national economic recession, low interest rates and large increase in FDIC insurance premiums," said F. Scott Dueser, president and CEO.
First Financial has Wise County branches in Bridgeport, Boyd and Decatur.
