EXHIBIT 99.1

FIRST FINANCIAL BANKSHARES ANNOUNCES

SECOND QUARTER EARNINGS RESULTS

ABILENE, Texas, July 19, 2012 – First Financial Bankshares, Inc. (NASDAQ: FFIN) today reported earnings for the second quarter of 2012 of $18.35 million, up 11.08 percent compared with earnings of $16.52 million in the same quarter last year. Basic earnings per share were $0.58 for the second quarter of 2012 compared with $0.53 in the same quarter a year ago.

Net interest income increased 1.00 percent to $38.6 million compared with $38.2 million in 2011. The net interest margin, on a taxable equivalent basis, was 4.33 percent compared with 4.69 percent in the same quarter last year and 4.39 percent in the first quarter of this year.

The provision for loan losses was $759 thousand in the second quarter of 2012, compared with $1.92 million in the same quarter last year and $1.30 million in the first quarter of this year. Nonperforming assets as a percentage of loans and foreclosed assets totaled 1.76 percent at June 30, 2012, compared with 1.60 percent at March 31, 2012, and 1.58 percent at June 30, 2011. Classified loans totaled $80.9 million at June 30, 2012, compared to $90.4 million at March 31, 2012, and $91.7 million at June 30, 2011.

Noninterest income increased 13.20 percent in the second quarter of 2012 to $13.46 million compared with $11.89 million in the same quarter a year ago. Trust fees increased to $3.67 million in the second quarter of 2012 compared with $3.21 million in the same quarter last year, primarily due to continued growth in the fair value of Trust assets managed to $2.65 billion from $2.45 billion a year ago. ATM, interchange and credit card fees increased 10.81 percent to $3.78 million compared with $3.42 million in the same quarter last year. Service charges on deposit accounts decreased to $4.04 million during the second quarter of 2012 compared with $4.52 million for the same quarter a year ago, due primarily to decreased customer use of overdraft services.

Noninterest expense increased in the second quarter of 2012 to $26.75 million from $25.89 million in the same quarter last year. The Company’s efficiency ratio in the second quarter of 2012 improved to 48.02 percent compared with 48.65 percent in the same quarter last year.

For the first half of 2012, net income increased 10.03 percent to $36.11 million from $32.82 million a year ago. Basic earnings per share rose to $1.15 in the first half of 2012 from $1.04 in the same period last year. Net interest income increased 1.74 percent to $76.81 million in the first half of 2012 from $75.50 million a year ago. The provision for loan losses totaled $2.06 million compared with $4.05 million in the first half of the previous year. Noninterest income was $26.76 million in the first half of 2012 compared

with $24.74 million a year ago. Noninterest expense rose to $53.21 million in the first half of 2012 compared with $52.05 million last year.

As of June 30, 2012, consolidated assets for the Company totaled $4.29 billion compared with $3.84 billion a year ago. Loans grew 11.57 percent and totaled $1.92 billion at quarter end compared with loans of $1.72 billion a year ago. Total deposits were $3.39 billion as of June 30, 2012, which represents an 8.74 percent growth over $3.12 billion a year earlier. Shareholders’ equity rose to $534.26 million as of June 30, 2012, compared with $477.71 million the prior year.

“We are pleased to report another successful quarter where we experienced solid growth in earnings, loans and trust fees,” said F. Scott Dueser, Chairman, President and CEO. “In the second half of the year, we will continue to pursue opportunities for acquisitions and for internal growth while remaining vigilant over expenses and loan quality.”

About First Financial Bankshares

Headquartered in Abilene, Texas, First Financial Bankshares is a financial holding company that operates 11 separately chartered banks with 53 locations in Texas. The bank subsidiaries are First Financial Bank, N.A., Abilene, Albany, Clyde, Moran and Odessa; First Financial Bank, N.A., Eastland, Ranger, Cisco and Rising Star; First Financial Bank, N.A., Cleburne, Burleson, Alvarado, Midlothian and Crowley; First Financial Bank, Hereford; First Financial Bank, Huntsville; First Financial Bank, N.A., Mineral Wells; First Financial Bank, N.A., San Angelo; First Financial Bank, N.A., Southlake, Bridgeport, Boyd, Decatur, Grapevine, Keller and Trophy Club; First Financial Bank, N.A., Stephenville, Granbury, Glen Rose and Acton; First Financial Bank, N.A., Sweetwater, Roby, Trent and Merkel; and First Financial Bank, N.A., Weatherford, Willow Park, Aledo, Brock and Fort Worth. The Company also operates First Financial Trust & Asset Management Company, N.A., with six 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.

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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.

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