First Financial Bankshares (FFIN) 8-K Results of Operations and Financial Condition

Exhibit 99.1

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

FIRST FINANCIAL BANKSHARES ANNOUNCES

THIRD QUARTER EARNINGS RESULTS

ABILENE, Texas, October 18, 2018 –First Financial Bankshares, Inc. (NASDAQ: FFIN) today reported earnings for the third quarter of 2018 of $40.05 million, up $10.68 million when compared with earnings of $29.37 million in the same quarter last year. Basic earnings per share were $0.59 for the third quarter of 2018 compared with $0.44 in the same quarter a year ago. Contributing to the increase in net earnings and earnings per share in the current quarter when compared with the same quarter a year ago were the Kingwood acquisition (see below) and the enactment of the Tax Cuts and Jobs Act which was effective January 1, 2018, and reduced the corporate income tax rate from 35 percent to 21 percent. Without this tax adjustment, net earnings for the third quarter of 2018 would have been $34.88 million with an adjusted basic earnings per share of $0.52.

All amounts for the three and nine months ended September 30, 2018, include the results of the Company’s acquisition of Commercial Bancshares, Inc. and its wholly-owned subsidiary, Commercial State Bank, Kingwood, Texas, which was effective January 1, 2018. As of the acquisition date, Commercial State Bank had total assets of approximately $390.20 million, total loans of approximately $271.50 million and total deposits of approximately $345.90 million.

Net interest income for the third quarter of 2018 was $69.43 million compared with $59.69 million in the same quarter of 2017. The net interest margin, on a taxable equivalent basis, was 4.01 percent for the third quarter of 2018 compared to 3.92 percent for the second quarter of 2018 and 3.94 percent for the third quarter of 2017. Included in interest income for the third quarter of 2018 was $750 thousand, or four basis points in net interest margin, related to discount accretion from fair value accounting related to the Kingwood and Orange acquisitions.

The provision for loan losses was $1.45 million in the third quarter of 2018 compared with $1.11 million in the second quarter of 2018 and $1.42 million in the third quarter of 2017. Nonperforming assets as a percentage of loans and foreclosed assets totaled 0.69 percent at September 30, 2018, compared with 0.73 percent at June 30, 2018, and 0.63 percent at September 30, 2017. Classified loans totaled $117.52 million at September 30, 2018, compared to $113.73 million at June 30, 2018, and $121.29 million at September 30, 2017.

Noninterest income increased 11.52 percent in the third quarter of 2018 to $27.06 million compared with $24.26 million in the same quarter a year ago. Trust fees increased $1.25 million to $7.29 million in the third quarter of 2018 compared with $6.04 million in the same quarter last year, primarily due to continued growth in Trust assets managed to $5.75 billion from $4.92 billion a year ago. ATM, interchange and credit card fees increased 18.82 percent to $7.53 million compared with $6.34 million in the same quarter last year due to continued growth in debit cards and the Kingwood acquisition. Service charges on deposits increased 11.94 percent to $5.69 million compared with $5.08 million in the same quarter a year ago, primarily due to continued growth in net new accounts, product and pricing changes made to better align the Company’s account offerings and the Kingwood acquisition. Real estate mortgage fees increased to $4.83 million in the third quarter of 2018 from $3.89 million in the same quarter a year ago. Offsetting these increases was a decrease in gains on sales of securities to $58 thousand in the third quarter of 2018 compared to $1.08 million in the same quarter a year ago.

Noninterest expense for the third quarter of 2018 totaled $47.51 million compared to $43.96 million in the third quarter of 2017. The Company’s efficiency ratio in the third quarter of 2018 was 48.12 percent compared with 48.71 percent in the same quarter last year. The increase in noninterest expense in the third quarter of 2018 was primarily a result of an increase in salary and employee benefit costs to $26.38 million compared to $24.14 million in the same quarter a year ago, primarily driven by the acquisition of Commercial State Bank, annual merit based pay increases and an increase in profit sharing expenses.

For the nine months ended September 30, 2018, net income increased to $112.20 million from $84.23 million for the same period a year ago. Basic earnings per share rose to $1.66 from $1.27 in the same period of 2017. Net interest income increased 15.18 percent to $202.49 million for the nine months ended September 30, 2018, from $175.79 million in the same period a year ago. The provision for loan losses totaled $3.87 million compared with $5.09 million in the same period a year ago. Noninterest income was $76.97 million for the first nine months 2018 compared with $68.72 million in the same period a year ago. Noninterest expense rose to $142.45 million compared with $129.89 million during the same period a year ago.

As of September 30, 2018, consolidated assets for the Company totaled $7.57 billion compared to $7.69 billion at June 30, 2018, and $7.01 billion at September 30, 2017. Loans grew to $3.89 billion at September 30, 2018, compared with loans of $3.86 billion at June 30, 2018 and $3.49 billion at September 30, 2017. Deposits totaled $6.15 billion at September 30, 2018, compared to $6.21 billion at June 30, 2018, and $5.70 billion at September 30, 2017. Shareholders’ equity rose to $995.74 million as of September 30, 2018, compared with $985.63 million at June 30, 2018, and $906.56 million at September 30, 2017.

“We are pleased to report another quarter of strong earnings growth,” said F. Scott Dueser, Chairman, President and CEO. “We continue to work diligently to grow loans and deposits and reduce expenses while looking for acquisition opportunities to utilize our strong capital position and increase returns to our shareholders. In light of the continued increases in interest rates by the Federal Reserve, we are focused on increasing loan and deposit rates to better align with our competitive environment,” added Dueser.

About First Financial Bankshares

Headquartered in Abilene, Texas, First Financial is a financial holding company that through its subsidiary, First Financial Bank, N.A., operates multiple banking regions with 72 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
	2018									2017
	Sept. 30,			June 30,			Mar. 31,			Dec 31,			Sept. 30,
ASSETS
Cash and due from banks	$	164,998		$	178,217		$	130,979		$	209,583		$	177,615
Interest-bearing deposits in banks		34,511			99,499			67,060			162,764			166,820
Interest-bearing time deposits in banks		1,458			1,458			1,458			1,458			1,458
Fed funds sold		—			8,450			—			—			—
Investment securities		3,144,367			3,197,567			3,276,193			3,087,473			2,885,483
Loans		3,885,536			3,855,769			3,747,081			3,500,699			3,491,346
Allowance for loan losses		(50,871	)		(49,951	)		(49,499	)		(48,156	)		(47,922	)
Net loans		3,834,665			3,805,818			3,697,582			3,452,543			3,443,424
Premises and equipment		130,815			130,366			126,446			124,026			125,668
Goodwill		171,565			171,565			171,565			139,971			139,971
Other intangible assets		3,342			3,620			4,004			1,172			1,384
Other assets		85,510			88,910			92,162			75,725			67,341
Total assets	$	7,571,231		$	7,685,470		$	7,567,449		$	7,254,715		$	7,009,164
LIABILITIES AND SHAREHOLDERS’ EQUITY
Noninterest-bearing deposits	$	2,146,984		$	2,105,953		$	2,111,116		$	2,041,650		$	1,949,174
Interest-bearing deposits		3,998,298			4,104,654			4,079,647			3,921,311			3,748,286
Total deposits		6,145,282			6,210,607			6,190,763			5,962,961			5,697,460
Borrowings		380,760			456,935			372,155			331,000			351,435
Other liabilities		49,450			32,300			34,717			37,986			53,713
Shareholders’ equity		995,739			985,628			969,814			922,768			906,556
Total liabilities and shareholders’ equity	$	7,571,231		$	7,685,470		$	7,567,449		$	7,254,715		$	7,009,164
	Quarter Ended
	2018									2017
	Sept 30,			June 30,			Mar. 31,			Dec 31,			Sept. 30,
INCOME STATEMENTS
Interest income	$	74,049		$	72,078		$	69,082		$	63,456		$	62,554
Interest expense		4,623			4,467			3,633			2,562			2,866
Net interest income		69,426			67,611			65,449			60,894			59,688
Provision for loan losses		1,450			1,105			1,310			1,440			1,415
Net interest income after provision for loan losses		67,976			66,506			64,139			59,454			58,273
Noninterest income		27,055			25,488			24,423			22,302			24,260
Noninterest expense		47,506			47,144			47,798			44,096			43,964
Net income before income taxes		47,525			44,850			40,764			37,660			38,569
Income tax expense		7,475			7,217			6,245			9,167			9,195
Tax benefit from tax rate change		—			—			—			(7,650	)		—
Net income	$	40,050		$	37,633		$	34,519		$	36,143		$	29,374
PER COMMON SHARE DATA
Net income—basic	$	0.59		$	0.56		$	0.51		$	0.55		$	0.44
Net income—diluted		0.59			0.55			0.51			0.54			0.44
Cash dividends declared		0.21			0.21			0.19			0.19			0.19
Book Value		14.71			14.57			14.34			13.93			13.69
Market Value	$	59.10		$	50.90		$	46.30		$	45.05		$	45.20
Shares outstanding—end of period		67,693,586			67,669,658			67,612,760			66,260,444			66,223,957
Average outstanding shares—basic		67,635,058			67,597,275			67,527,010			66,191,995			66,140,518
Average outstanding shares—diluted		68,053,724			67,924,168			67,799,545			66,428,871			66,417,281
PERFORMANCE RATIOS
Return on average assets		2.10	%		1.98	%		1.84	%		2.02	%		1.65	%
Return on average equity		16.00			15.53			14.74			15.79			12.95
Return on average tangible equity		19.42			18.94			17.82			18.70			15.38
Net interest margin (tax equivalent)		4.01			3.92			3.88			4.00			3.94
Efficiency ratio		48.12			49.42			51.76			49.37			48.71
	Nine Months Ended Sept. 30,
	2018			2017
INCOME STATEMENTS
Interest income	$	215,209		$	182,519
Interest expense		12,723			6,726
Net interest income		202,486			175,793
Provision for loan losses		3,865			5,090
Net interest income after provision for loan losses		198,621			170,703
Noninterest income		76,966			68,715
Noninterest expense		142,448			129,891
Net income before income taxes		133,139			109,527
Income tax expense		20,937			25,300
Net income	$	112,202		$	84,227
PER COMMON SHARE DATA
Net income—basic	$	1.66		$	1.27
Net income—diluted		1.65			1.27
Cash dividends declared		0.61			0.56
Book Value		14.71			13.69
Market Value	$	59.10		$	45.20
Shares outstanding—end of period		67,693,586			66,223,957
Average outstanding shares—basic		67,586,843			66,104,914
Average outstanding shares—diluted		67,948,420			66,392,210
PERFORMANCE RATIOS
Return on average assets		1.97	%		1.62	%
Return on average equity		15.43			12.88
Return on average tangible equity		18.74			15.40
Net interest margin (tax equivalent)		3.94			4.01
Efficiency ratio		49.73			49.22

FIRST FINANCIAL BANKSHARES, INC.

SELECTED FINANCIAL DATA (UNAUDITED)

(In thousands)

	Quarter Ended
	2018									2017
	Sept. 30,			June 30,			Mar. 31,			Dec 31,			Sept. 30,
ALLOWANCE FOR LOAN LOSSES
Balance at beginning of period	$	49,951		$	49,499		$	48,156		$	47,922		$	47,410
Loans charged off		(945	)		(949	)		(471	)		(1,440	)		(1,180	)
Loan recoveries		415			296			504			234			277
Net recoveries (charge-offs)		(530	)		(653	)		33			(1,206	)		(903	)
Provision for loan losses		1,450			1,105			1,310			1,440			1,415
Balance at end of period	$	50,871		$	49,951		$	49,499		$	48,156		$	47,922
Allowance for loan losses /period-end loans		1.31	%		1.30	%		1.32	%		1.38	%		1.37	%
Allowance for loan losses / nonperforming loans		194.25			182.31			209.80			259.11			243.57
Net charge-offs / average loans (annualized)		0.05			0.07			—			0.14			0.10
SUMMARY OF LOAN CLASSIFICATION
Special Mention	$	36,450		$	34,557		$	40,079		$	37,079		$	35,237
Substandard		81,073			79,170			83,976			80,131			86,057
Doubtful		—			—			—			—			—
Total classified loans	$	117,523		$	113,727		$	124,055		$	117,210		$	121,294
NONPERFORMING ASSETS
Nonaccrual loans	$	25,587		$	26,685		$	22,752		$	17,670		$	18,750
Accruing troubled debt restructured loans		513			514			514			627			668
Accruing loans 90 days past due		88			200			327			288			257
Total nonperforming loans		26,188			27,399			23,593			18,585			19,675
Foreclosed assets		671			705			1,276			1,532			2,401
Total nonperforming assets	$	26,859		$	28,104		$	24,869		$	20,117		$	22,076
As a % of loans and foreclosed assets		0.69	%		0.73	%		0.66	%		0.57	%		0.63	%
As a % of end of period total assets		0.35			0.37			0.33			0.28			0.31
OIL AND GAS PORTFOLIO INFORMATION
Oil and gas loans	$	112,039		$	103,381		$	86,218		$	60,164		$	69,433
Oil and gas loans as a % of total loans		2.88	%		2.68	%		2.30	%		1.72	%		1.99	%
Classified oil and gas loans		4,861			5,001			10,485			20,346			21,817
Nonaccrual oil and gas loans		1,825			1,629			1,460			1,414			1,569
Net charge-offs for oil and gas loans		—			—			—			—			—
Allowance for oil and gas loans as a % of oil and gas loans		3.28	%		3.48	%		3.64	%		7.90	%		6.03	%
CAPITAL RATIOS
Common equity Tier 1 capital ratio		19.19	%		18.68	%		18.43	%		18.66	%		18.35	%
Tier 1 capital ratio		19.19			18.68			18.43			18.66			18.35
Total capital ratio		20.34			19.81			19.58			19.85			19.54
Tier 1 leverage		11.57			11.14			10.90			11.09			10.84
Equity to assets		13.15			12.82			12.82			12.72			12.93
	Quarter Ended
	2018									2017
	Sept. 30,			June 30,			Mar. 31,			Dec 31,			Sept. 30,
NONINTEREST INCOME
Trust fees	$	7,291		$	7,070		$	6,904		$	5,891		$	6,040
Service charges on deposits		5,690			5,375			4,884			4,900			5,083
ATM, interchange and credit card fees		7,533			7,041			6,996			6,584			6,340
Real estate mortgage fees		4,834			3,951			2,933			3,613			3,891
Net gain on sale ofavailable-for-sale securities		58			67			1,221			3			1,075
Net gain (loss) on sale of foreclosed assets		84			19			99			(8	)		(11	)
Net gain (loss) on sale of assets		(61	)		—			(91	)		(185	)		(15	)
Interest on loan recoveries		199			289			119			232			405
Other noninterest income		1,427			1,676			1,358			1,272			1,452
Total noninterest income	$	27,055		$	25,488		$	24,423		$	22,302		$	24,260
NONINTEREST EXPENSE
Salaries and employee benefits, excluding profit sharing	$	24,693		$	24,545		$	24,994		$	22,760		$	23,052
Profit sharing expense		1,684			2,317			1,209			1,661			1,091
Net occupancy expense		2,900			2,806			2,883			2,439			2,711
Equipment expense		3,482			3,440			3,516			3,369			3,294
FDIC insurance premiums		570			632			566			560			561
ATM, interchange and credit card expenses		2,344			2,205			2,143			1,935			2,001
Legal, tax and professional fees		2,417			2,308			2,807			2,580			2,396
Audit fees		382			439			411			338			356
Printing, stationery and supplies		387			612			486			567			449
Amortization of intangible assets		279			384			387			136			143
Advertising and public relations		1,709			1,576			1,575			1,689			1,527
Operational and other losses		981			305			566			553			1,081
Software amortization and expense		540			479			524			1,056			742
Other noninterest expense		5,138			5,096			5,731			4,453			4,560
Total noninterest expense	$	47,506		$	47,144		$	47,798		$	44,096		$	43,964
TAX EQUIVALENT YIELD ADJUSTMENT	$	2,242		$	2,289		$	2,467		$	6,125		$	6,312
	Nine Months Ended Sept. 30,
	2018			2017
NONINTEREST INCOME
Trust fees	$	21,265		$	17,804
Service charges on deposits		15,950			14,517
ATM, interchange and credit card fees		21,570			19,102
Real estate mortgage fees		11,718			11,496
Net gain (loss) on sale ofavailable-for-sale securities		1,346			1,825
Net gain (loss) on sale of foreclosed assets		201			(42	)
Net gain (loss) on sale of assets		(152	)		(211	)
Interest on loan recoveries		607			896
Other noninterest income		4,461			3,328
Total noninterest income	$	76,966		$	68,715
NONINTEREST EXPENSE
Salaries and employee benefits, excluding profit sharing	$	74,232		$	67,793
Profit sharing expense		5,210			3,074
Net occupancy expense		8,589			8,081
Equipment expense		10,438			10,397
FDIC insurance premiums		1,768			1,657
ATM, interchange and credit card expenses		6,692			5,517
Legal, tax and professional fees		7,532			7,399
Audit fees		1,234			1,154
Printing, stationery and supplies		1,485			1,423
Amortization of intangible assets		1,049			477
Advertising and public relations		4,860			4,646
Operational and other losses		1,852			2,639
Software amortization and expense		1,542			2,237
Other noninterest expense		15,965			13,397
Total noninterest expense	$	142,448		$	129,891
TAX EQUIVALENT YIELD ADJUSTMENT	$	6,997		$	19,371

FIRST FINANCIAL BANKSHARES, INC.

SELECTED FINANCIAL DATA (UNAUDITED)

(In thousands)

	Three Months Ended Sept. 30, 2018							Three Months Ended June 30, 2018
	Average Balance		Tax Equivalent Interest		Yield / Rate			Average Balance		Tax Equivalent Interest		Yield / Rate
Interest-earning assets:
Fed funds sold	$	3,377	$	19		2.29	%	$	2,228	$	13		2.32	%
Interest-bearing deposits in nonaffiliated banks		88,118		450		2.03			59,373		258		1.74
Taxable securities		1,943,125		12,594		2.59			2,007,949		12,719		2.53
Tax exempt securities		1,213,212		11,459		3.78			1,281,757		12,001		3.75
Loans		3,845,836		51,769		5.34			3,797,341		49,376		5.22
Total interest-earning assets		7,093,668	$	76,291		4.27	%		7,148,648	$	74,367		4.17	%
Noninterest-earning assets		490,155							486,837
Total assets	$	7,583,823						$	7,635,485
Interest-bearing liabilities:
Deposits	$	4,035,174	$	4,329		0.43	%	$	4,076,522	$	4,005		0.39	%
Fed funds purchased and other borrowings		399,026		294		0.29			434,239		462		0.43
Total interest-bearing liabilities		4,434,200	$	4,623		0.41	%		4,510,761	$	4,467		0.40	%
Noninterest-bearing liabilities		2,156,258							2,152,451
Shareholders’ equity		993,365							972,273
Total liabilities and shareholders’ equity	$	7,583,823						$	7,635,485
Net interest income and margin (tax equivalent)			$	71,668		4.01	%			$	69,900		3.92	%
	Three Months Ended Mar. 31, 2018							Three Months Ended Dec. 31, 2017
	Average Balance		Tax Equivalent Interest		Yield / Rate			Average Balance		Tax Equivalent Interest		Yield / Rate
Interest-earning assets:
Fed funds sold	$	6,215	$	27		1.78	%	$	1,192	$	5		1.52	%
Interest-bearing deposits in nonaffiliated banks		160,399		613		1.55			186,355		645		1.37
Taxable securities		1,826,391		11,354		2.49			1,562,744		8,977		2.30
Tax exempt securities		1,352,235		12,559		3.72			1,405,327		16,259		4.63
Loans		3,748,561		46,995		5.08			3,483,939		43,695		4.98
Total interest-earning assets		7,093,801	$	71,548		4.09	%		6,639,557	$	69,581		4.16	%
Noninterest-earning assets		497,049							441,645
Total assets	$	7,590,850						$	7,081,202
Interest-bearing liabilities:
Deposits	$	4,139,324	$	3,519		0.34	%	$	3,795,808	$	2,465		0.26	%
Fed funds purchased and other borrowings		357,414		113		0.13			343,683		97		0.11
Total interest-bearing liabilities		4,496,738	$	3,632		0.33	%		4,139,491	$	2,562		0.25	%
Noninterest-bearing liabilities		2,144,065							2,033,580
Shareholders’ equity		950,047							908,131
Total liabilities and shareholders’ equity	$	7,590,850						$	7,081,202
Net interest income and margin (tax equivalent)			$	67,916		3.88	%			$	67,019		4.00	%
	Three Months Ended Sept. 30, 2017
	Average Balance		Tax Equivalent Interest		Yield / Rate
Interest-earning assets:
Fed funds sold	$	2,467	$	9		1.43	%
Interest-bearing deposits in nonaffiliated banks		198,322		629		1.26
Taxable securities		1,492,246		8,074		2.16
Tax exempt securities		1,477,559		16,884		4.57
Loans		3,468,524		43,270		4.95
Total interest-earning assets		6,639,118	$	68,866		4.12	%
Noninterest-earning assets		431,070
Total assets	$	7,070,188
Interest-bearing liabilities:
Deposits	$	3,728,442	$	2,228		0.24	%
Fed funds purchased and other borrowings		524,357		638		0.48
Total interest-bearing liabilities		4,252,799	$	2,866		0.27	%
Noninterest-bearing liabilities		1,917,681
Shareholders’ equity		899,708
Total liabilities and shareholders’ equity	$	7,070,188
Net interest income and margin (tax equivalent)			$	66,000		3.94	%
	Nine Months Ended Sept. 30, 2018							Nine 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	$	3,929	$	60		2.03	%	$	3,738	$	20		0.70	%
Interest-bearing deposits in nonaffiliated banks		102,365		1,321		1.73			126,207		1,016		1.08
Taxable securities		1,926,249		36,666		2.54			1,451,712		23,848		2.19
Tax exempt securities		1,281,892		36,019		3.75			1,511,786		51,859		4.57
Loans		3,797,602		148,140		5.22			3,419,105		125,147		4.89
Total interest-earning assets		7,112,037	$	222,206		4.18	%		6,512,548	$	201,890		4.14	%
Noninterest-earning assets		489,625							435,367
Total assets	$	7,601,662						$	6,947,915
Interest-bearing liabilities:
Deposits	$	4,083,292	$	11,854		0.39	%	$	3,779,967	$	5,748		0.20	%
Fed funds purchased and other short term borrowings		397,045		869		0.29			448,773		978		0.29
Total interest-bearing liabilities		4,480,337	$	12,723		0.38	%		4,228,740	$	6,726		0.21	%
Noninterest-bearing liabilities		2,149,271							1,844,894
Shareholders’ equity		972,054							874,281
Total liabilities and shareholders’ equity	$	7,601,662						$	6,947,915
Net interest income and margin (tax equivalent)			$	209,483		3.94	%			$	195,164		4.01	%