• First Financial Bankshares average gross margin for 2023 was 83.63%, a 14.04% decline from 2022.
• First Financial Bankshares average gross margin for 2022 was 97.29%, a 1.61% decline from 2021.
• First Financial Bankshares average gross margin for 2021 was 98.88%, a 3.59% decline from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.