Exhibit 99.1

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

FIRST FINANCIAL BANKSHARES ANNOUNCES

SECOND QUARTER 2019 EARNINGS RESULTS

ABILENE, Texas, July 18, 2019 – First Financial Bankshares, Inc. (NASDAQ: FFIN) today reported earnings for the second quarter of 2019 of $42.09 million, up $4.46 million when compared with earnings of $37.63 million in the same quarter last year. Basic earnings per share were $0.31 for the second quarter of 2019 compared with $0.28 in the same quarter a year ago.

On April 23, 2019, the Company’s Board of Directors declared a two-for-one stock split in the form of a 100 percent stock dividend, which was effective June 3, 2019. All share and per share amounts in this earnings release have been restated to reflect this stock split.

Net interest income for the second quarter of 2019 was $71.62 million compared with $67.61 million in the same quarter of 2018. The net interest margin, on a taxable equivalent basis, was 3.98 percent in the second quarter of 2019 compared to 4.00 percent in the first quarter of 2019 and 3.92 percent in the second quarter of 2018. Included in interest income for the second quarter of 2019 was $402 thousand, or two 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 $600 thousand in the second quarter of 2019 compared with $965 thousand in the first quarter of 2019 and $1.11 million in the second quarter of 2018. Nonperforming assets as a percentage of loans and foreclosed assets totaled 0.69 percent at June 30, 2019, compared with 0.74 percent at March 31, 2019, and 0.73 percent at June 30, 2018. Classified loans totaled $126.04 million at June 30, 2019, compared to $118.43 million at March 31, 2019, and $113.73 million at June 30, 2018.

Noninterest income increased 9.76 percent in the second quarter of 2019 to $27.98 million compared with $25.49 million in the same quarter a year ago. Trust fees were $7.03 million in the second quarter of 2019 compared with $7.07 million in the same quarter last year. The fair value of Trust assets managed increased to $6.19 billion from $5.40 billion a year ago; however, the income from this growth was offset by lower mineral fees. ATM, interchange and credit card fees increased 4.42 percent to $7.35 million compared with $7.04 million in the same quarter last year due to continued growth in debit cards. Real estate mortgage fees increased 19.49 percent in the second quarter of 2019 to $4.72 million compared with $3.95 million in the same quarter a year ago.

Noninterest expense for the second quarter of 2019 totaled $48.30 million compared to $47.14 million in the second quarter of 2018. The Company’s efficiency ratio in the second quarter of 2019 was 47.71 percent compared with 49.42 percent in the same quarter last year. The increase in noninterest expense in the second quarter of 2019 was primarily a result of an increase in salary and employee benefit costs to $27.39 million compared to $26.86 million in the same quarter a year ago, primarily driven by annual merit-based pay increases and rising medical insurance costs.

For the first half of 2019, net income increased to $80.34 million from $72.15 million for the same period a year ago. Basic earnings per share rose to $0.59 in the first half of 2019 from $0.53 in the same period of 2018. Net interest income increased to $141.13 million in the first half of 2019 from $133.06 million in the same period a year ago. The provision for loan losses totaled $1.57 million compared with $2.42 million in the first half of the previous year. Noninterest income was $52.41 million in the first half of 2019 compared with $49.91 million in the same period of 2018. Noninterest expense rose to $95.67 million in the first half of 2019 compared with $94.94 million during the same period last year.

As of June 30, 2019, consolidated assets for the Company totaled $7.98 billion compared to $7.95 billion at March 31, 2019, and $7.69 billion at June 30, 2018. Loans totaled $4.06 billion at June 30, 2019, compared with loans of $4.00 billion at March 31, 2019, and $3.86 billion at June 30, 2018. Deposits totaled $6.37 billion at June 30, 2019, compared to $6.35 billion at March 31, 2019, and $6.21 billion at June 30, 2018. Shareholders’ equity rose to $1.16 billion as of June 30, 2019, compared with $1.11 billion at March 31, 2019, and $985.63 million at June 30, 2018.

“We are pleased to report increased earnings and steady organic loan growth this quarter,” said F. Scott Dueser, Chairman, President and CEO. “In the second half of the year, we will continue to pursue opportunities for acquisitions and focus on growing loans and deposits, cutting costs and increasing our bottom line.”

About First Financial Bankshares:

Headquartered in Abilene, Texas, First Financial Bankshares, Inc. is a financial holding company that through its subsidiary, First Financial Bank, N.A., operates multiple banking regions with 73 locations in Texas, 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, Spring, 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 eight 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 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)

	As of
	2019						2018
ASSETS	June 30,			Mar. 31,			Dec. 31,			Sept. 30,			June 30,
Cash and due from banks	$	178,345		$	176,278		$	207,835		$	164,998		$	178,217
Interest-bearing deposits in banks		128,652			197,758			40,812			34,511			99,499
Interest-bearing time deposits in banks		960			1,458			1,458			1,458			1,458
Fed funds sold		700			12,825			—			—			8,450
Investment securities		3,259,492			3,212,812			3,158,777			3,144,367			3,197,567
Loans		4,063,257			4,003,606			3,975,308			3,885,536			3,855,769
Allowance for loan losses		(51,820	)		(51,585	)		(51,202	)		(50,871	)		(49,951	)
Net loans		4,011,437			3,952,021			3,924,106			3,834,665			3,805,818
Premises and equipment		134,322			135,321			133,421			130,815			130,366
Goodwill		171,565			171,565			171,565			171,565			171,565
Other intangible assets		2,586			2,850			3,118			3,342			3,620
Other assets		91,234			83,007			90,762			85,510			88,910
Total assets	$	7,979,293		$	7,945,895		$	7,731,854		$	7,571,231		$	7,685,470
LIABILITIES AND SHAREHOLDERS’ EQUITY
Noninterest-bearing deposits	$	2,167,552		$	2,165,745		$	2,116,107		$	2,146,984		$	2,105,953
Interest-bearing deposits		4,202,214			4,184,996			4,064,282			3,998,298			4,104,654
Total deposits		6,369,766			6,350,741			6,180,389			6,145,282			6,210,607
Borrowings		362,005			382,711			468,706			380,760			456,935
Other liabilities		82,774			104,921			29,464			49,450			32,300
Shareholders’ equity		1,164,748			1,107,522			1,053,295			995,739			985,628
Total liabilities and shareholders’ equity	$	7,979,293		$	7,945,895		$	7,731,854		$	7,571,231		$	7,685,470
	Quarter Ended
	2019						2018
INCOME STATEMENTS	June 30,			Mar. 31,			Dec. 31,			Sept. 30,			June 30,
Interest income	$	79,576		$	76,901		$	76,481		$	74,049		$	72,078
Interest expense		7,961			7,387			6,207			4,623			4,467
Net interest income		71,615			69,514			70,274			69,426			67,611
Provision for loan losses		600			965			1,800			1,450			1,105
Net interest income after provision for loan losses		71,015			68,549			68,474			67,976			66,506
Noninterest income		27,976			24,437			24,797			27,055			25,488
Noninterest expense		48,304			47,367			48,235			47,506			47,144
Net income before income taxes		50,687			45,619			45,036			47,525			44,850
Income tax expense		8,594			7,367			6,599			7,475			7,217
Net income	$	42,093		$	38,252		$	38,437		$	40,050		$	37,633
PER COMMON SHARE DATA
Net income – basic	$	0.31		$	0.28		$	0.28		$	0.30		$	0.28
Net income – diluted		0.31			0.28			0.28			0.29			0.28
Cash dividends declared		0.12			0.11			0.11			0.11			0.11
Book Value		8.58			8.16			7.77			7.35			7.28
Market Value	$	30.79		$	28.89		$	28.85		$	29.55		$	25.45
Shares outstanding – end of period		135,809,224			135,680,420			135,506,266			135,387,172			135,339,316
Average outstanding shares – basic		135,650,599			135,494,254			135,352,408			135,270,116			135,194,550
Average outstanding shares – diluted		136,218,235			136,286,862			136,191,224			136,107,448			135,848,336
PERFORMANCE RATIOS
Return on average assets		2.14	%		2.00	%		2.00	%		2.10	%		1.98	%
Return on average equity		15.04			14.51			15.18			16.00			15.53
Return on average tangible equity		17.81			17.34			18.38			19.42			18.94
Net interest margin (tax equivalent)		3.98			4.00			4.02			4.01			3.92
Efficiency ratio		47.71			49.46			49.69			48.12			49.42
	Six Months Ended June 30,
INCOME STATEMENTS	2019			2018
Interest income	$	156,477		$	141,160
Interest expense		15,348			8,100
Net interest income		141,129			133,060
Provision for loan losses		1,565			2,415
Net interest income after provision for loan losses		139,564			130,645
Noninterest income		52,413			49,912
Noninterest expense		95,673			94,943
Net income before income taxes		96,304			85,614
Income tax expense		15,959			13,462
Net income	$	80,345		$	72,152
PER COMMON SHARE DATA
Net income – basic	$	0.59		$	0.53
Net income – diluted		0.59			0.53
Cash dividends declared		0.23			0.20
Book Value		8.58			7.28
Market Value	$	30.79		$	25.45
Shares outstanding – end of period		135,809,224			135,339,316
Average outstanding shares – basic		135,572,859			135,124,672
Average outstanding shares – diluted		136,195,811			135,735,930
PERFORMANCE RATIOS
Return on average assets		2.08	%		1.91	%
Return on average equity		14.78			15.14
Return on average tangible equity		17.58			18.39
Net interest margin (tax equivalent)		3.99			3.90
Efficiency ratio		48.56			50.57

FIRST FINANCIAL BANKSHARES, INC.

SELECTED FINANCIAL DATA (UNAUDITED)

(In thousands)

	Quarter Ended
	2019						2018
ALLOWANCE FOR LOAN LOSSES	June 30,			Mar. 31,			Dec. 31,			Sept. 30,			June 30,
Balance at beginning of period	$	51,585		$	51,202		$	50,871		$	49,951		$	49,499
Loans charged off		(1,061	)		(1,464	)		(2,081	)		(945	)		(949	)
Loan recoveries		696			882			612			415			296
Net recoveries (charge-offs)		(365	)		(582	)		(1,469	)		(530	)		(653	)
Provision for loan losses		600			965			1,800			1,450			1,105
Balance at end of period	$	51,820		$	51,585		$	51,202		$	50,871		$	49,951
Allowance for loan losses / period-end loans		1.28	%		1.29	%		1.29	%		1.31	%		1.30	%
Allowance for loan losses / nonperforming loans		190.66			177.41			176.22			194.25			182.31
Net charge-offs / average loans (annualized)		0.04			0.06			0.15			0.05			0.07
SUMMARY OF LOAN CLASSIFICATION
Special Mention	$	51,490		$	45,275		$	50,379		$	36,450		$	34,557
Substandard		74,550			73,158			75,919			81,073			79,170
Doubtful		—			—			—			—			—
Total classified loans	$	126,040		$	118,433		$	126,298		$	117,523		$	113,727
NONPERFORMING ASSETS
Nonaccrual loans	$	26,408		$	28,508		$	27,534		$	25,587		$	26,685
Accruing troubled debt restructured loans		471			472			513			513			514
Accruing loans 90 days past due		300			97			1,008			88			200
Total nonperforming loans		27,179			29,077			29,055			26,188			27,399
Foreclosed assets		681			647			577			671			705
Total nonperforming assets	$	27,860		$	29,724		$	29,632		$	26,859		$	28,104
As a % of loans and foreclosed assets		0.69	%		0.74	%		0.75	%		0.69	%		0.73	%
As a % of end of period total assets		0.35			0.37			0.38			0.35			0.37
OIL AND GAS PORTFOLIO INFORMATION
Oil and gas loans	$	107,097		$	107,335		$	113,536		$	112,039		$	103,381
Oil and gas loans as a % of total loans		2.64	%		2.68	%		2.86	%		2.88	%		2.68	%
Classified oil and gas loans		3,438			4,255			3,894			4,861			5,001
Nonaccrual oil and gas loans		621			669			1,048			1,825			1,629
Net charge-offs for oil and gas loans		—			—			—			—			—
Allowance for oil and gas loans as a % of oil and gas loans		2.95	%		3.22	%		3.23	%		3.28	%		3.48	%
CAPITAL RATIOS
Common equity Tier 1 capital ratio		20.04	%		19.86	%		19.47	%		19.19	%		18.68	%
Tier 1 capital ratio		20.04			19.86			19.47			19.19			18.68
Total capital ratio		21.16			21.00			20.61			20.34			19.81
Tier 1 leverage		12.29			12.08			11.85			11.57			11.14
Equity to assets		14.60			13.94			13.62			13.15			12.82
	Quarter Ended
	2019						2018
NONINTEREST INCOME	June 30,			Mar. 31,			Dec. 31,			Sept. 30,			June 30,
Trust fees	$	7,027		$	6,979		$	6,915		$	7,291		$	7,070
Service charges on deposits		5,374			5,176			5,713			5,690			5,375
ATM, interchange and credit card fees		7,352			6,840			6,962			7,533			7,041
Real estate mortgage fees		4,721			3,474			3,439			4,834			3,951
Net gain on sale of available-for-sale securities		676			—			8			58			67
Net gain (loss) on sale of foreclosed assets		53			69			(85	)		84			19
Net gain (loss) on sale of assets		6			—			5			(61	)		—
Interest on loan recoveries		903			338			332			199			289
Other noninterest income		1,864			1,561			1,508			1,427			1,676
Total noninterest income	$	27,976		$	24,437		$	24,797		$	27,055		$	25,488
NONINTEREST EXPENSE
Salaries and employee benefits, excluding profit sharing	$	25,510		$	25,033		$	23,908		$	24,693		$	24,545
Loss from partial settlement of pension plan		—			900			1,546			—			—
Profit sharing expense		1,884			1,491			1,839			1,684			2,317
Net occupancy expense		2,779			2,763			2,583			2,900			2,806
Equipment expense		2,827			3,127			3,403			3,482			3,440
FDIC insurance premiums		538			538			565			570			632
ATM, interchange and credit card expenses		2,427			2,383			2,589			2,344			2,205
Legal, tax and professional fees		2,302			2,154			2,609			2,417			2,308
Audit fees		455			417			291			382			439
Printing, stationery and supplies		502			366			513			387			612
Amortization of intangible assets		264			269			223			279			384
Advertising and public relations		1,630			1,648			1,805			1,709			1,576
Operational and other losses		480			266			337			981			305
Software amortization and expense		1,287			923			755			540			479
Other noninterest expense		5,419			5,089			5,269			5,138			5,096
Total noninterest expense	$	48,304		$	47,367		$	48,235		$	47,506		$	47,144
TAX EQUIVALENT YIELD ADJUSTMENT	$	1,664		$	1,819		$	1,996		$	2,242		$	2,289
	Six Months Ended June 30,
NONINTEREST INCOME	2019			2018
Trust fees	$	14,006		$	13,975
Service charges on deposits		10,550			10,259
ATM, interchange and credit card fees		14,192			14,037
Real estate mortgage fees		8,195			6,884
Net gain (loss) on sale of available-for-sale securities		676			1,288
Net gain (loss) on sale of foreclosed assets		122			118
Net gain (loss) on sale of assets		6			(91	)
Interest on loan recoveries		1,241			408
Other noninterest income		3,425			3,034
Total noninterest income	$	52,413		$	49,912
NONINTEREST EXPENSE
Salaries and employee benefits, excluding profit sharing	$	50,543		$	49,539
Loss from partial settlement of pension plan		900			—
Profit sharing expense		3,375			3,526
Net occupancy expense		5,542			5,689
Equipment expense		5,954			6,957
FDIC insurance premiums		1,076			1,199
ATM, interchange and credit card expenses		4,810			4,348
Legal, tax and professional fees		4,457			5,115
Audit fees		872			851
Printing, stationery and supplies		868			1,098
Amortization of intangible assets		532			771
Advertising and public relations		3,278			3,151
Operational and other losses		746			871
Software amortization and expense		2,210			1,003
Other noninterest expense		10,510			10,825
Total noninterest expense	$	95,673		$	94,943
TAX EQUIVALENT YIELD ADJUSTMENT	$	3,484		$	4,755

FIRST FINANCIAL BANKSHARES, INC.

SELECTED FINANCIAL DATA (UNAUDITED)

(In thousands)

	Three Months Ended June 30, 2019							Three Months Ended Mar. 31, 2019
	Average Balance		Tax Equivalent Interest		Yield / Rate			Average Balance		Tax Equivalent Interest		Yield / Rate
Interest-earning assets:
Fed funds sold	$	5,436	$	39		2.88	%	$	4,894	$	34		2.79	%
Interest-bearing deposits in nonaffiliated banks		107,381		628		2.35			100,258		585		2.36
Taxable securities		2,063,497		13,925		2.70			1,924,863		13,289		2.76
Tax exempt securities		1,169,889		10,615		3.63			1,226,457		11,279		3.68
Loans		4,043,055		56,033		5.56			3,973,108		53,534		5.46
Total interest-earning assets		7,389,258	$	81,240		4.41	%		7,229,580	$	78,721		4.42	%
Noninterest-earning assets		487,931							508,368
Total assets	$	7,877,189						$	7,737,948
Interest-bearing liabilities:
Deposits	$	4,196,123	$	7,286		0.70	%	$	4,144,091	$	6,662		0.65	%
Fed funds purchased and other borrowings		378,389		675		0.72			408,641		726		0.72
Total interest-bearing liabilities		4,574,512	$	7,961		0.70	%		4,552,732	$	7,388		0.66	%
Noninterest-bearing liabilities		2,180,361							2,116,080
Shareholders’ equity		1,122,316							1,069,136
Total liabilities and shareholders’ equity	$	7,877,189						$	7,737,948
Net interest income and margin (tax equivalent)			$	73,279		3.98	%			$	71,333		4.00	%
	Three Months Ended Dec. 31, 2018							Three Months Ended Sept. 30, 2018
	Average Balance		Tax Equivalent Interest		Yield / Rate			Average Balance		Tax Equivalent Interest		Yield / Rate
Interest-earning assets:
Fed funds sold	$	1,620	$	10		2.54	%	$	3,377	$	19		2.29	%
Interest-bearing deposits in nonaffiliated banks		41,511		240		2.30			88,118		450		2.03
Taxable securities		1,957,638		13,384		2.73			1,943,125		12,594		2.59
Tax exempt securities		1,206,728		11,482		3.81			1,213,212		11,459		3.78
Loans		3,918,360		53,361		5.40			3,845,836		51,769		5.34
Total interest-earning assets		7,125,857	$	78,477		4.37	%		7,093,668	$	76,291		4.27	%
Noninterest-earning assets		493,244							490,155
Total assets	$	7,619,101						$	7,583,823
Interest-bearing liabilities:
Deposits	$	3,961,582	$	5,092		0.51	%	$	4,035,174	$	4,329		0.43	%
Fed funds purchased and other borrowings		484,054		1,115		0.91			399,026		294		0.29
Total interest-bearing liabilities		4,445,636	$	6,207		0.55	%		4,434,200	$	4,623		0.41	%
Noninterest-bearing liabilities		2,169,069							2,156,258
Shareholders’ equity		1,004,396							993,365
Total liabilities and shareholders’ equity	$	7,619,101						$	7,583,823
Net interest income and margin (tax equivalent)			$	72,270		4.02	%			$	71,668		4.01	%
	Three Months Ended June 30, 2018
	Average Balance		Tax Equivalent Interest		Yield / Rate
Interest-earning assets:
Fed funds sold	$	2,228	$	13		2.32	%
Interest-bearing deposits in nonaffiliated banks		59,373		258		1.74
Taxable securities		2,007,949		12,719		2.53
Tax exempt securities		1,281,757		12,001		3.75
Loans		3,797,341		49,376		5.22
Total interest-earning assets		7,148,648	$	74,367		4.17	%
Noninterest-earning assets		486,837
Total assets	$	7,635,485
Interest-bearing liabilities:
Deposits	$	4,076,522	$	4,005		0.39	%
Fed funds purchased and other borrowings		434,239		462		0.43
Total interest-bearing liabilities		4,510,761	$	4,467		0.40	%
Noninterest-bearing liabilities		2,152,451
Shareholders’ equity		972,273
Total liabilities and shareholders’ equity	$	7,635,485
Net interest income and margin (tax equivalent)			$	69,900		3.92	%
	Six Months Ended June 30, 2019							Six 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	$	5,166	$	73		2.84	%	$	4,210	$	40		1.92	%
Interest-bearing deposits in nonaffiliated banks		103,839		1,213		2.35			109,607		871		1.60
Taxable securities		1,994,563		27,213		2.73			1,917,671		24,073		2.51
Tax exempt securities		1,198,016		21,893		3.65			1,316,801		24,560		3.73
Loans		4,008,275		109,569		5.51			3,773,085		96,371		5.15
Total interest-earning assets		7,309,859	$	159,961		4.41	%		7,121,374	$	145,915		4.13	%
Noninterest-earning assets		498,094							489,356
Total assets	$	7,807,953						$	7,610,730
Interest-bearing liabilities:
Deposits	$	4,170,250	$	13,947		0.67	%	$	4,107,750	$	7,524		0.37	%
Fed funds purchased and other short term borrowings		393,432		1,401		0.72			396,039		576		0.29
Total interest-bearing liabilities		4,563,682	$	15,348		0.68	%		4,503,789	$	8,100		0.36	%
Noninterest-bearing liabilities		2,148,398							2,145,719
Shareholders’ equity		1,095,873							961,222
Total liabilities and shareholders’ equity	$	7,807,953						$	7,610,730
Net interest income and margin (tax equivalent)			$	144,613		3.99	%			$	137,815		3.90	%