First Financial Bankshares (FFIN) 8-K First Financial Bankshares Announces Fourth Quarter Earnings

Exhibit 99.1

For immediate release	For More Information:
	J. Bruce Hildebrand, Executive Vice President
	325.627.7155

FIRST FINANCIAL BANKSHARES ANNOUNCES FOURTH QUARTER EARNINGS

RESULTS AND 31^st YEAR OF CONSECUTIVE EARNINGS GROWTH

ABILENE, Texas, January 25, 2018 –First Financial Bankshares, Inc. (NASDAQ: FFIN) today reported earnings for the fourth quarter of 2017 of $36.14 million, up $9.48 million when compared with earnings of $26.67 million in the same quarter last year. Basic earnings per share were $0.55 for the fourth quarter of 2017 compared with $0.40 in the same quarter a year ago. Of the $9.48 million increase in net income during the quarter when compared to the same quarter a year ago, $7.65 million resulted from the recent enactment of tax legislation that reduced the corporate tax rate from 35 percent to 21 percent. This amount represents the net effect of the Company’s revaluation of its deferred tax assets and liabilities using the new tax rate. Without this adjustment, earnings for the quarter would have been $28.49 million with an adjusted basic earnings per share of $0.43.

Net interest income for the fourth quarter of 2017 was $60.89 million compared with $56.54 million in the same quarter of 2016. The net interest margin, on a taxable equivalent basis, was 4.00 percent for the fourth quarter of 2017 compared to 3.94 percent in the third quarter of 2017 and 4.01 percent in the fourth quarter of 2016. Included in interest income for the fourth quarter of 2017 was $439 thousand, or three basis points in net interest margin, related to discount accretion from fair value accounting related to the Conroe and Orange acquisitions.

The provision for loan losses was $1.44 million in the fourth quarter of 2017 compared with $1.42 million in the third quarter of 2017 and $1.99 million in the fourth quarter of 2016. The continued provision for loan losses in 2017 reflects growth in the loan portfolio and the continued levels of gross charge-offs. Nonperforming assets as a percentage of loans and foreclosed assets totaled 0.57 percent at December 31, 2017, compared with 0.63 percent at September 30, 2017, and 0.86 percent at December 31, 2016. Classified loans totaled $117.21 million at December 31, 2017, compared to $121.29 million at September 30, 2017, and $127.80 million at December 31, 2016.

At December 31, 2017, loans with oil and gas industry exposure totaled 1.72 percent of gross loans. These loans comprised $20.35 million of the classified loan totals and $1.41 million of the nonperforming loan totals. In addition, there were no net charge-offs related to these oil and gas loans for the quarter ended December 31, 2017. At December 31, 2017, the Company’s allowance for loan loss reserve specific to its total oil and gas loan portfolio totaled 7.90 percent of total oil and gas loans.

Noninterest income increased 2.67 percent in the fourth quarter of 2017 to $22.30 million compared with $21.72 million in the same quarter a year ago. Trust fees increased $702 thousand to $5.89 million in the fourth quarter of 2017 compared with $5.19 million in the same quarter last year, primarily due to continued growth in the fair value of Trust assets managed to $5.13 billion from $4.37 billion a year ago as well as the continued increases in oil and gas prices. ATM, interchange and credit card fees increased 3.04 percent to $6.58 million compared with

$6.39 million in the same quarter last year due to continued growth in debit cards. Service charges on deposits increased 2.66 percent to $4.90 million compared with $4.77 million in the same quarter a year ago due to continued growth in net new accounts. Offsetting these increases was a decrease in real estate mortgage fees of $624 thousand or 14.73 percent compared to the same quarter a year ago, partially due to a slowdown in refinance activity and the sale of the mortgage servicing portfolio in July 2017.

Noninterest expense for the fourth quarter of 2017 totaled $44.10 million compared to $41.99 million in the fourth quarter of 2016. The Company’s efficiency ratio in the fourth quarter of 2017 was 49.37 percent compared with 49.61 percent in the same quarter last year. The increase in noninterest expense in the fourth quarter of 2017 was driven by a $1.35 million increase in salary and employee benefit expense, primarily due to merit based pay increases and profit sharing expenses, an increase of $531 thousand in software amortization and expense primarily resulting from awrite-off of internally developed software and the addition of approximately $222 thousand in various expenses related to the Company’s recent acquisition of Commercial Bancshares, Inc. and its wholly-owned subsidiary, Commercial State Bank, Kingwood, Texas, effective January 1, 2018.

For the year ended December 31, 2017, net income increased $15.60 million ($7.65 million was attributed to the change in the corporate tax rate) to $120.37 million from $104.77 million in 2016, marking 2017 as the 31^st consecutive year of earnings increases for the Company. Basic earnings per share in 2017 rose to $1.82 from $1.59 in the previous year. Without the tax adjustment in the fourth quarter mentioned above, earnings for the year would have been $112.72 million with an adjusted basic earnings per share of $1.70.

Net interest income increased $9.85 million for the year to $236.69 million from $226.84 million a year ago. The provision for loan losses for 2017 totaled $6.53 million compared with $10.21 million in 2016. Noninterest income was $91.02 million in 2017 compared with $85.13 million in 2016. Noninterest expense rose to $173.99 million in 2017 compared with $165.83 million a year ago.

As of December 31, 2017, consolidated assets for the Company totaled $7.25 billion compared with $6.81 billion at December 31, 2016. Loans totaled $3.50 billion at year end compared with loans of $3.38 billion a year ago. Deposits totaled $5.96 billion at December 31, 2017, compared to $5.48 billion a year ago. Shareholders’ equity rose to $922.77 million at year end compared with $837.89 million at December 31, 2016.

“We are pleased to report the 31^st consecutive year of increased earnings for the Company,” said F. Scott Dueser, Chairman, President and CEO. “We are excited to welcome Commercial State Bank of Kingwood to the First Financial family at the beginning 2018. As we continue to visit with other potential acquisition candidates, we are working diligently on organically growing loans and deposits while reducing expenses to reward our shareholders, customers and employees even more.”

About First Financial Bankshares

Headquartered in Abilene, Texas, First Financial Bankshares is a financial holding company that through its subsidiary, First Financial Bank, N.A., operates multiple banking regions with 73 locations in Texas, following the close of this acquisition, including Abilene, Acton, Albany, Aledo, Alvarado, Beaumont, Boyd, Bridgeport, Brock, Burleson, Cisco, Cleburne, Clyde, Conroe, Cut and Shoot, Decatur, Eastland, El Campo, Fort Worth, Fulshear, Glen Rose, Granbury, Grapevine, Hereford, Huntsville, Keller, Kingwood, Magnolia, Mauriceville, Merkel, Midlothian, Mineral Wells, Montgomery, Moran, New Waverly, Newton, Odessa, Orange, Palacios, Port Arthur, Ranger, Rising Star, Roby, San Angelo, Southlake, Stephenville, Sweetwater, Tomball, Trent, Trophy Club, Vidor, Waxahachie, Weatherford, Willis, and Willow Park. The Company also operates First Financial Trust & Asset Management Company, N.A., with seven locations and First Technology Services, Inc., a technology operating company.

The Company is listed on The NASDAQ Global Select Market under the trading symbol FFIN. For more information about First Financial Bankshares, please visit our website athttp://www.ffin.com

*****

Certain statements contained herein may be considered “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. These statements are based upon the belief of the Company’s management, as well as assumptions made beyond information currently available to the Company’s management, and may be, but not necessarily are, identified by such words as “expect”, “plan”, “anticipate”, “target”, “forecast” and “goal”. Because such “forward-looking statements” are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from the Company’s expectations include competition from other financial institutions and financial holding companies; the effects of and changes in trade, monetary and fiscal policies and laws, including interest rate policies of the Federal Reserve Board; changes in the demand for loans; fluctuations in value of collateral and loan reserves; inflation, interest rate, market and monetary fluctuations; changes in consumer spending, borrowing and savings habits; and acquisitions and integration of acquired businesses, and similar variables. Other key risks are described in the Company’s reports filed with the Securities and Exchange Commission, which may be obtained under “Investor Relations-Documents/Filings” on the Company’s Web site or by writing or calling the Company at 325.627.7155. Except as otherwise stated in this news announcement, the Company does not undertake any obligation to update publicly or revise any forward-looking statements because of new information, future events or otherwise.

FIRST FINANCIAL BANKSHARES, INC.

CONSOLIDATED FINANCIAL SUMMARY (UNAUDITED)

(In thousands, except share and per share data)

	As of
	2017												2016
	Dec 31,			Sept. 30,			June 30,			Mar. 31,			Dec. 31,
ASSETS
Cash and due from banks	$	209,583		$	177,615		$	163,435		$	163,674		$	204,782
Interest-bearing deposits in banks		162,764			166,820			53,336			55,165			48,574
Interest-bearing time deposits in banks		1,458			1,458			1,458			1,707			1,707
Fed funds sold		—			—			3,740			3,840			3,130
Investment securities		3,087,473			2,885,483			2,964,618			3,018,393			2,860,958
Loans		3,500,699			3,491,346			3,457,679			3,386,141			3,384,205
Allowance for loan losses		(48,156	)		(47,922	)		(47,410	)		(46,192	)		(45,779	)
Net loans		3,452,543			3,443,424			3,410,269			3,339,949			3,338,426
Premises and equipment		124,026			125,668			123,620			122,787			122,685
Goodwill		139,971			139,971			139,971			139,971			139,971
Other intangible assets		1,172			1,384			3,149			3,464			3,632
Other assets		75,725			67,341			83,796			81,420			86,066
Total assets	$	7,254,715		$	7,009,164		$	6,947,392		$	6,930,370		$	6,809,931
LIABILITIES AND SHAREHOLDERS’ EQUITY
Noninterest-bearing deposits	$	2,041,650		$	1,949,174		$	1,856,439		$	1,827,609		$	1,717,722
Interest-bearing deposits		3,921,311			3,748,286			3,770,170			3,834,359			3,760,817
Total deposits		5,962,961			5,697,460			5,626,609			5,661,968			5,478,539
Borrowings		331,000			351,435			379,324			360,264			445,770
Other liabilities		37,986			53,713			54,017			48,784			47,737
Shareholders’ equity		922,768			906,556			887,442			859,354			837,885
Total liabilities and shareholders’ equity	$	7,254,715		$	7,009,164		$	6,947,392		$	6,930,370		$	6,809,931
	Quarter Ended
	2017												2016
		Dec 31,			Sept. 30,			June 30,			Mar. 31,			Dec 31,
INCOME STATEMENTS
Interest income	$	63,456		$	62,554		$	61,182		$	58,783		$	57,979
Interest expense		2,562			2,866			2,097			1,763			1,443
Net interest income		60,894			59,688			59,085			57,020			56,536
Provision for loan losses		1,440			1,415			1,725			1,950			1,993
Net interest income after provision for loan losses		59,454			58,273			57,360			55,070			54,543
Noninterest income		22,302			24,260			23,170			21,286			21,721
Noninterest expense		44,096			43,964			43,775			42,152			41,990
Net income before income taxes		37,660			38,569			36,755			34,204			34,274
Income tax expense		9,167			9,195			8,500			7,605			7,608
Tax benefit from tax rate change		(7,650	)		—			—			—			—
Net income	$	36,143		$	29,374		$	28,255		$	26,599		$	26,666
PER COMMON SHARE DATA
Net income — basic	$	0.55		$	0.44		$	0.43		$	0.40		$	0.40
Net income — diluted		0.54			0.44			0.43			0.40			0.40
Cash dividends declared		0.19			0.19			0.19			0.18			0.18
Book Value		13.93			13.69			13.41			12.99			12.68
Market Value	$	45.05		$	45.20		$	44.20		$	40.10		$	45.20
Shares outstanding — end of period		66,260,444			66,223,957			66,170,312			66,131,832			66,094,695
Average outstanding shares — basic		66,191,995			66,140,518			66,100,089			66,073,399			66,037,447
Average outstanding shares — diluted		66,428,871			66,417,281			66,344,943			66,363,222			66,307,119
PERFORMANCE RATIOS
Return on average assets		2.02	%		1.65	%		1.64	%		1.57	%		1.59	%
Return on average equity		15.79			12.95			12.94			12.74			12.44
Net interest margin (tax equivalent)		4.00			3.94			4.05			4.03			4.01
Efficiency ratio		49.37			48.16			49.32			49.67			49.61
	Year Ended Dec 31,
	2017			2016
INCOME STATEMENTS
Interest income	$	245,975		$	232,288
Interest expense		9,288			5,451
Net interest income		236,687			226,837
Provision for loan losses		6,530			10,212
Net interest income after provision for loan losses		230,157			216,625
Noninterest income		91,017			85,132
Noninterest expense		173,986			165,830
Net income before income taxes		147,188			135,927
Income tax expense		34,467			31,153
Tax benefit from tax rate change		(7,650	)		—
Net income	$	120,371		$	104,774
PER COMMON SHARE DATA
Net income — basic	$	1.82		$	1.59
Net income — diluted		1.81			1.59
Cash dividends declared		0.75			0.70
Book Value		13.93			12.68
Market Value	$	45.05		$	45.20
Shares outstanding — end of period		66,260,444			66,094,695
Average outstanding shares — basic		66,126,863			66,013,004
Average outstanding shares — diluted		66,324,330			66,102,886
PERFORMANCE RATIOS
Return on average assets		1.72	%		1.59	%
Return on average equity		13.63			12.36
Net interest margin (tax equivalent)		4.01			4.08
Efficiency ratio		49.26			49.22

FIRST FINANCIAL BANKSHARES, INC.

SELECTED FINANCIAL DATA (UNAUDITED)

(In thousands)

	Quarter Ended
	2017												2016
	Dec 31,			Sept. 30,			June 30,			Mar. 31,			Dec. 31,
ALLOWANCE FOR LOAN LOSSES
Balance at beginning of period	$	47,922		$	47,410		$	46,192		$	45,779		$	45,298
Loans charged off		(1,440	)		(1,180	)		(1,174	)		(2,026	)		(1,774	)
Loan recoveries		234			277			667			489			262
Net recoveries (charge-offs)		(1,206	)		(903	)		(507	)		(1,537	)		(1,512	)
Provision for loan losses		1,440			1,415			1,725			1,950			1,993
Balance at end of period	$	48,156		$	47,922		$	47,410		$	46,192		$	45,779
Allowance for loan losses / period-end loans		1.38	%		1.37	%		1.37	%		1.36	%		1.35	%
Allowance for loan losses / nonperforming loans		259.11			243.57			210.95			159.48			161.44
Net charge-offs / average loans (annualized)		0.14			0.10			0.06			0.18			0.18
SUMMARY OF LOAN CLASSIFICATION
Special Mention	$	37,079		$	35,237		$	27,999		$	23,341		$	24,787
Substandard		80,131			86,057			89,609			99,280			103,015
Doubtful		—			—			—			—			—
Total classified loans	$	117,210		$	121,294		$	117,608		$	122,621		$	127,802
NONPERFORMING ASSETS
Nonaccrual loans	$	17,670		$	18,750		$	21,489		$	28,080		$	27,371
Accruing troubled debt restructured loans		627			668			672			695			701
Accruing loans 90 days past due		288			257			314			190			284
Total nonperforming loans		18,585			19,675			22,475			28,965			28,356
Foreclosed assets		1,532			2,401			2,245			1,553			644
Total nonperforming assets	$	20,117		$	22,076		$	24,720		$	30,518		$	29,000
As a % of loans and foreclosed assets		0.57	%		0.63	%		0.71	%		0.90	%		0.86	%
As a % of end of period total assets		0.28			0.31			0.36			0.44			0.43
OIL AND GAS PORTFOLIO INFORMATION
Oil and gas loans	$	60,164		$	69,433		$	70,187		$	75,262		$	78,483
Oil and gas loans as a % of total loans		1.72	%		1.99	%		2.03	%		2.22	%		2.32	%
Classified oil and gas loans		20,346			21,817			24,404			29,077			32,518
Nonaccrual oil and gas loans		1,414			1,569			2,860			3,208			4,092
Net charge-offs for oil and gas loans		—			—			50			—			105
Allowance for oil and gas loans as a % of oil and gas loans		7.90	%		6.03	%		7.24	%		6.59	%		6.28	%
CAPITAL RATIOS
Common equity Tier 1 capital ratio		18.66	%		18.35	%		17.79	%		17.56	%		17.30	%
Tier 1 capital ratio		18.66			18.35			17.79			17.56			17.30
Total capital ratio		19.85			19.54			18.97			18.72			18.45
Tier 1 leverage		11.09			10.84			10.79			10.60			10.71
Equity to assets		12.72			12.93			12.77			12.40			12.30
	Quarter Ended
	2017												2016
	Dec 31,			Sept. 30,			June 30,			Mar. 31,			Dec. 31,
NONINTEREST INCOME
Trust fees	$	5,891		$	6,040		$	5,747		$	6,017		$	5,189
Service charges on deposits		4,900			5,083			4,883			4,550			4,773
ATM, interchange and credit card fees		6,584			6,340			6,598			6,164			6,390
Real estate mortgage fees		3,613			3,891			4,188			3,417			4,237
Net gain on sale of available-for-sale securities		3			1,075			747			3			117
Net gain (loss) on sale of foreclosed assets		(8	)		(11	)		(72	)		41			112
Net gain (loss) on sale of assets		(185	)		(15	)		(200	)		4			(103	)
Interest on loan recoveries		232			405			337			154			141
Other noninterest income		1,272			1,452			942			936			865
Total noninterest income	$	22,302		$	24,260		$	23,170		$	21,286		$	21,721
NONINTEREST EXPENSE
Salaries and employee benefits, excluding profit sharing	$	22,760		$	23,052		$	22,508		$	22,233		$	21,742
Profit sharing expense		1,661			1,091			957			1,026			1,329
Loss from partial settlement of pension plan		—			—			—			—			267
Net occupancy expense		2,439			2,711			2,771			2,600			2,534
Equipment expense		3,369			3,294			3,665			3,437			3,293
FDIC insurance premiums		560			561			550			547			525
ATM, interchange and credit card expenses		1,935			2,001			1,803			1,713			1,879
Legal, tax and professional fees		2,580			2,396			2,526			2,478			2,386
Audit fees		338			356			379			419			331
Printing, stationery and supplies		567			449			536			438			590
Amortization of intangible assets		136			143			165			168			168
Advertising and public relations		1,689			1,527			1,576			1,544			1,574
Operational and other losses		553			1,081			574			985			717
Software amortization and expense		1,056			742			995			500			525
Other noninterest expense		4,453			4,560			4,770			4,064			4,130
Total noninterest expense	$	44,096		$	43,964		$	43,775		$	42,152		$	41,990
TAX EQUIVALENT YIELD ADJUSTMENT	$	6,125		$	6,312		$	6,509		$	6,550		$	6,391
	Year Ended Dec 31,
	2017			2016
NONINTEREST INCOME
Trust fees	$	23,694		$	19,636
Service charges on deposits		19,416			18,386
ATM, interchange and credit card fees		25,686			23,910
Real estate mortgage fees		15,109			16,086
Net gain (loss) on sale of available-for-sale securities		1,828			1,270
Net gain (loss) on sale of foreclosed assets		(50	)		456
Net gain (loss) on sale of assets		(396	)		168
Interest on loan recoveries		1,128			2,112
Other noninterest income		4,602			3,108
Total noninterest income	$	91,017		$	85,132
NONINTEREST EXPENSE
Salaries and employee benefits, excluding profit sharing	$	90,552		$	87,518
Profit sharing expense		4,735			3,221
Loss from partial settlement of pension plan		—			267
Net occupancy expense		10,521			10,420
Equipment expense		13,765			13,479
FDIC insurance premiums		2,217			2,680
ATM, interchange and credit card expenses		7,452			7,231
Legal, tax and professional fees		9,980			9,092
Audit fees		1,492			1,593
Printing, stationery and supplies		1,989			2,093
Amortization of intangible assets		613			738
Advertising and public relations		6,334			6,284
Operational and other losses		3,192			2,170
Software amortization and expense		3,295			2,006
Other noninterest expense		17,849			17,038
Total noninterest expense	$	173,986		$	165,830
TAX EQUIVALENT YIELD ADJUSTMENT	$	25,495		$	24,942

FIRST FINANCIAL BANKSHARES, INC.

SELECTED FINANCIAL DATA (UNAUDITED)

(In thousands)

	Three Months Ended Dec. 31, 2017							Three Months Ended Sept. 30, 2017
	Average Balance		Tax Equivalent Interest		Yield / Rate			Average Balance		Tax Equivalent Interest		Yield / Rate
Interest-earning assets:
Fed funds sold	$	1,192	$	5		1.52	%	$	2,467	$	9		1.43	%
Interest-bearing deposits in nonaffiliated banks		186,355		645		1.37			198,322		629		1.26
Taxable securities		1,562,744		8,977		2.30			1,492,246		8,074		2.16
Tax exempt securities		1,405,327		16,259		4.63			1,477,559		16,884		4.57
Loans		3,483,939		43,695		4.98			3,468,524		43,270		4.95
Total interest-earning assets		6,639,557	$	69,581		4.16	%		6,639,118	$	68,866		4.12	%
Noninterest-earning assets		441,645							431,070
Total assets	$	7,081,202						$	7,070,188
Interest-bearing liabilities:
Deposits	$	3,795,808	$	2,465		0.26	%	$	3,728,442	$	2,228		0.24	%
Fed funds purchased and other borrowings		343,683		97		0.11			524,357		638		0.48
Total interest-bearing liabilities		4,139,491	$	2,562		0.25	%		4,252,799	$	2,866		0.27	%
Noninterest-bearing liabilities		2,033,580							1,917,681
Shareholders’ equity		908,131							899,708
Total liabilities and shareholders’ equity	$	7,081,202						$	7,070,188
Net interest income and margin (tax equivalent)			$	67,019		4.00	%			$	66,000		3.94	%
	Three Months Ended June 30, 2017							Three Months Ended Mar. 31, 2017
	Average Balance		Tax Equivalent Interest		Yield / Rate			Average Balance		Tax Equivalent Interest		Yield / Rate
Interest-earning assets:
Fed funds sold	$	5,229	$	8		0.64	%	$	3,529	$	2		0.23	%
Interest-bearing deposits in nonaffiliated banks		45,043		112		1.00			134,556		274		0.83
Taxable securities		1,494,187		8,343		2.23			1,367,331		7,431		2.17
Tax exempt securities		1,528,760		17,414		4.56			1,529,610		17,561		4.59
Loans		3,418,105		41,814		4.91			3,369,599		40,065		4.82
Total interest-earning assets		6,491,324	$	67,691		4.18	%		6,404,625	$	65,333		4.14	%
Noninterest-earning assets		428,245							446,961
Total assets	$	6,919,569						$	6,851,586
Interest-bearing liabilities:
Deposits	$	3,803,412	$	1,930		0.20	%	$	3,808,933	$	1,590		0.17	%
Fed funds purchased and other borrowings		372,910		167		0.18			448,217		173		0.16
Total interest-bearing liabilities		4,176,322	$	2,097		0.20	%		4,257,150	$	1,763		0.17	%
Noninterest-bearing liabilities		1,867,596							1,747,532
Shareholders’ equity		875,651							846,904
Total liabilities and shareholders’ equity	$	6,919,569						$	6,851,586
Net interest income and margin (tax equivalent)			$	65,594		4.05	%			$	63,570		4.03	%
	Three Months Ended Dec. 31, 2016
	Average Balance		Tax Equivalent Interest		Yield / Rate
Interest-earning assets:
Fed funds sold	$	4,703	$	5		0.42	%
Interest-bearing deposits in nonaffiliated banks		85,907		116		0.54
Taxable securities		1,281,717		6,459		2.02
Tax exempt securities		1,489,463		16,958		4.55
Loans		3,374,652		40,831		4.81
Total interest-earning assets		6,236,442	$	64,369		4.11	%
Noninterest-earning assets		434,629
Total assets	$	6,671,071
Interest-bearing liabilities:
Deposits	$	3,580,489	$	1,305		0.14	%
Fed funds purchased and other borrowings		488,240		137		0.11
Total interest-bearing liabilities		4,068,729	$	1,442		0.14	%
Noninterest-bearing liabilities		1,749,320
Shareholders’ equity		853,022
Total liabilities and shareholders’ equity	$	6,671,071
Net interest income and margin (tax equivalent)			$	62,927		4.01	%
	Year Ended Dec. 31, 2017							Year Ended Dec. 31, 2016
	Average Balance		Tax Equivalent Interest		Yield / Rate			Average Balance		Tax Equivalent Interest		Yield / Rate
Interest-earning assets:
Fed funds sold	$	3,096	$	24		0.78	%	$	5,628	$	24		0.43	%
Interest-bearing deposits in nonaffiliated banks		141,368		1,660		1.17			58,254		318		0.55
Taxable securities		1,479,698		32,825		2.22			1,314,820		27,626		2.10
Tax exempt securities		1,484,952		68,118		4.59			1,459,121		66,268		4.54
Loans		3,435,447		168,843		4.91			3,333,241		162,994		4.89
Total interest-earning assets		6,544,561	$	271,470		4.15	%		6,171,064	$	257,230		4.17	%
Noninterest-earning assets		436,950							428,055
Total assets	$	6,981,511						$	6,599,119
Interest-bearing liabilities:
Deposits	$	3,783,960	$	8,213		0.22	%	$	3,469,005	$	4,504		0.13	%
Fed funds purchased and other short term borrowings		422,285		1,075		0.25			552,041		947		0.17
Total interest-bearing liabilities		4,206,245	$	9,288		0.22	%		4,021,046	$	5,451		0.14	%
Noninterest-bearing liabilities		1,892,453							1,730,207
Shareholders’ equity		882,813							847,866
Total liabilities and shareholders’ equity	$	6,981,511						$	6,599,119
Net interest income and margin (tax equivalent)			$	262,182		4.01	%			$	251,779		4.08	%