Exhibit 99.1

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

FIRST FINANCIAL BANKSHARES ANNOUNCES
FIRST QUARTER EARNINGS RESULTS

ABILENE, Texas, April 19, 2007 – First Financial Bankshares, Inc. today reported earnings for the first quarter of 2007 of $11.46 million, compared with $11.47 million in the same quarter last year. The slight decrease resulted primarily from the decision to delay the first-quarter sale of student loans until May 2007. Basic earnings per share were $0.55, unchanged from the same period last year.

Net interest income for the first quarter increased 3.6 percent to $26.57 million compared with $25.65 million in the same quarter last year. The provision for loan losses was $242,000 in the first quarter of 2007, down from $333,000 in the same quarter last year. The net interest margin, on a taxable equivalent basis, was 4.38 percent for the first quarter of 2007 compared with 4.41 percent in the same period a year ago and 4.43 percent for the quarter ended December 31, 2006.

Noninterest income in the first quarter was $10.92 million compared with $11.48 million in the same quarter a year earlier. The Company decided to delay the first-quarter sale of student loans to May 2007 in order to gain additional interest income. As a result, the net gain on the sale of student loans was $163,000 versus $1.41 million in the same quarter last year. The Company expects to sell approximately the same volume of student loans in May 2007 as it sold in the first quarter of the prior year and recognize similar premium amounts.

Trust fees increased 13.7 percent to $2.10 million compared with $1.85 million in the first quarter last year. Service charges on deposit accounts decreased 2.8 percent to $5.14 million compared with $5.29 million a year ago, reflecting declining use of overdraft privileges, offset in part by strong growth in new accounts. Real estate mortgage fees increased 64.4 percent to $738,000 from $449,000 in the same quarter last year. ATM and credit card fees increased 19.4 percent to $1.72 million versus $1.44 million a year ago, indicative of continued increased use of debit cards.

Noninterest expense increased 2.9 percent in the first quarter of 2007 to $21.12 million from $20.51 million in the same quarter last year. The Company’s efficiency ratio in the first quarter stood at 54.53 percent compared with 53.54 percent in the same quarter a year ago.

“Our Company performed well in the first quarter, given the more cautious economic environment and the continuing pressure on interest rate margins,” said F. Scott Dueser,

President and Chief Executive Officer. “We are especially pleased to report continued growth in loans, real estate mortgage fees and in trust fees, as well as a healthy growth in the opening of new accounts.”

As of March 31, 2007, consolidated assets for the Company totaled $2.87 billion compared with $2.76 billion a year ago. Loans totaled $1.41 billion at quarter end, compared with loans of $1.25 billion a year ago. Excluding the effect of student loans, quarter-end loans grew 9.2 percent over the same period a year ago and 0.7 percent over December 31, 2006.

Total deposits rose 2.4 percent as of March 31, 2007, to $2.43 billion from $2.37 billion a year earlier. Non-interest-bearing deposits grew 8.2 percent over amounts from a year ago, while interest-bearing deposits were basically flat. Shareholders’ equity rose to $308.2 million as of March 31, 2007, compared with $280.6 million the prior year.

Headquartered in Abilene, Texas, First Financial Bankshares is a financial holding company that operates ten separately chartered banks with 44 locations in Texas. The bank subsidiaries are First Financial Bank, N.A., Abilene, Clyde and Moran; First Financial Bank, N.A., Eastland, Ranger and Rising Star; First Financial Bank, N.A., Cleburne, Burleson, Alvarado and Midlothian; Hereford State Bank, Hereford; City National Bank, Mineral Wells; San Angelo National Bank, San Angelo; First Financial Bank, N.A., Southlake, Trophy Club, Keller, Bridgeport, Decatur and Boyd; First Financial Bank, N.A., Stephenville, Granbury and Glen Rose; First National Bank, Sweetwater, Roby and Trent; and Weatherford National Bank, Weatherford, Willow Park and Aledo. The Company also operates First Financial Trust & Asset Management Company, N.A., with five 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 Web site at http://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)

	March 31,
	2007			2006
ASSETS:
Cash and due from banks	$	110,006		$	117,189
Fed funds sold		109,110			132,925
Investment securities		1,097,959			1,105,816
Loans		1,406,867			1,254,973
Allowance for loan losses		(16,458	)		(15,116	)
Net loans		1,390,409			1,239,857
Premises and equipment		59,855			59,689
Goodwill		62,113			62,035
Other intangible assets		4,206			5,855
Other assets		36,788			34,752
Total assets	$	2,870,446		$	2,758,118
LIABILITIES AND SHAREHOLDERS’ EQUITY:
Noninterest-bearing deposits	$	657,786		$	608,161
Interest-bearing deposits		1,768,057			1,760,958
Total deposits		2,425,843			2,369,119
Short-term borrowings		111,614			86,384
Other liabilities		24,780			21,987
Shareholders’ equity		308,209			280,628
Total liabilities and shareholders’ equity	$	2,870,446		$	2,758,118

	Three Months Ended
	March 31,
	2007			2006
INCOME STATEMENTS
Interest income	$	41,072		$	36,401
Interest expense		14,499			10,750
Net interest income		26,573			25,651
Provision for loan losses		242			333
Net interest income after provision for loan losses		26,331			25,318
Noninterest income		10,920			11,478
Noninterest expense		21,115			20,511
Net income before income taxes		16,136			16,285
Income tax expense		4,674			4,818
Net income	$	11,462		$	11,467
PER COMMON SHARE DATA
Net income — basic	$	0.55		$	0.55
Net income — diluted		0.55			0.55
Cash dividends		0.30			0.28
Book value		14.85			13.55
Market value		41.82			38.30
Shares outstanding — end of period		20,754,796			20,717,481
Average outstanding shares — basic		20,747,188			20,715,484
Average outstanding shares — diluted		20,796,236			20,773,616
PERFORMANCE RATIOS
Return on average assets		1.64	%		1.71	%
Return on average equity		15.42			16.71
Net interest margin (tax equivalent)		4.38			4.41
Efficiency ratio		54.53			53.54

FIRST FINANCIAL BANKSHARES, INC.
SELECTED FINANCIAL DATA (UNAUDITED)
(In thousands)

	Quarter Ended
	2007			2006
	March 31,			Dec. 31,			Sept. 30,			June 30,			March 31,
ALLOWANCE FOR LOAN LOSSES
Balance at beginning of period	$	16,201		$	16,498		$	15,473		$	15,116		$	14,719
Loans charged off		(147	)		(788	)		(272	)		(379	)		(380	)
Loan recoveries		162			244			206			347			444
Net (charge-offs) recoveries		15			(544	)		(66	)		(32	)		64
Provision for loan losses		242			247			1,091			389			333
Balance at end of period	$	16,458		$	16,201		$	16,498		$	15,473		$	15,116
Allowance for loan losses / period-end loans		1.17	%		1.18	%		1.23	%		1.20	%		1.20	%
Allowance for loan losses / nonperforming loans		226.5			442.9			401.6			370.0			401.3
Net charge-offs (recoveries) / average loans (annualized)		0.00			0.16			0.02			0.01			(0.02	)
NONPERFORMING ASSETS
Nonaccrual loans	$	6,338		$	3,529		$	3,907		$	4,088		$	3,570
Accruing loans 90 days past due		928			129			201			94			197
Total nonperforming loans		7,266			3,658			4,108			4,182			3,767
Foreclosed assets		434			453			543			545			588
Total nonperforming assets	$	7,700		$	4,111		$	4,651		$	4,727		$	4,355
As a % of loans and foreclosed assets		0.55	%		0.30	%		0.35	%		0.37	%		0.35	%
CAPITAL RATIOS
Tier 1 Risk-based		14.71	%		14.35	%		14.72	%		14.51	%		14.54	%
Total Risk-based		15.69			15.32			15.75			15.49			15.52
Tier 1 Leverage		8.89			8.87			8.91			8.39			8.22
Equity to assets		10.74			10.56			10.81			10.30			10.17

	Three Months Ended
	March 31,
	2007		2006
NONINTEREST INCOME
Gain on sale of student loans, net	$	163	$	1,410
Gain on securities transactions, net		85		—
Trust fees		2,100		1,847
Service charges on deposits		5,139		5,288
Real estate mortgage fees		738		449
Net gain (loss) on sale of foreclosed assets		12		(11	)
ATM and credit card fees		1,718		1,440
Other noninterest income		965		1,055
Total Noninterest Income	$	10,920	$	11,478
NONINTEREST EXPENSE
Salaries and employee benefits	$	11,439	$	11,388
Net occupancy expense		1,409		1,475
Equipment expense		1,745		1,705
Printing, stationery and supplies		472		498
ATM and credit card expenses		929		810
Audit fees		249		249
Legal, tax and professional fees		673		544
Correspondent bank service charges		326		312
Advertising and public relations		559		567
Amortization of intangible assets		383		226
Other noninterest expense		2,931		2,737
Total Noninterest Expense	$	21,115	$	20,511
TAX EQUIVALENT YIELD ADJUSTMENT	$	1,227	$	1,177

FIRST FINANCIAL BANKSHARES, INC.
SELECTED FINANCIAL DATA (UNAUDITED)
(In thousands)

	Three Months Ended March 31, 2007
	Average		Tax Equivalent		Yield /
	Balance		Interest		Rate
Interest earning assets:
Fed funds sold	$	56,492	$	698		5.01	%
Interest bearing deposits in nonaffiliated banks		5,039		65		5.21	%
Taxable securities		849,966		9,761		4.59	%
Tax exempt securities		268,411		4,040		6.02	%
Loans		1,396,950		27,735		8.05	%
Total interest earning assets		2,576,858		42,299		6.66	%
Noninterest earning assets		261,726
Total assets	$	2,838,584
Interest bearing liabilities:
Deposits	$	1,743,151	$	12,908		3.00	%
Fed funds purchased and other short term borrowings		137,865		1,591		4.68	%
Total interest bearing liabilities		1,881,016		14,499		3.13	%
Noninterest bearing liabilities		656,133
Shareholders’ equity		301,435
Total liabilities and shareholders’ equity	$	2,838,584
Net interest income and margin (tax equivalent)			$	27,800		4.38	%