FIRST FINANCIAL BANKSHARES, INC. AND SUBSIDIARIES
Consolidated Balance Sheets
December 31, 2002 and 2001
The accompanying notes are an integral part of these consolidated financial statements.
F-4
ASSETS          2002                2001        
CASH AND DUE FROM BANKS $   108,436,645 $   112,150,214
FEDERAL FUNDS SOLD        70,000,000        72,975,000
Total cash and cash equivalents 178,436,645 185,125,214
INTEREST-BEARING DEPOSITS IN BANKS 2,324,425 1,374,285
INVESTMENT SECURITIES:
Securities held-to-maturity (fair value of $211,862,151 in
     2002 and $298,569,794 in 2001) 200,449,784 290,674,490
Securities available-for-sale, at fair value       571,806,629      431,019,205
Total investment securities 772,256,413 721,693,695
LOANS 964,039,773 940,130,975
Less- allowance for loan losses         11,218,729        10,602,419
Net loans 952,821,044 929,528,556
BANK PREMISES AND EQUIPMENT, net 40,605,401 42,012,431
INTANGIBLE ASSETS 24,870,788 24,711,969
OTHER ASSETS        21,868,220        25,247,980
Total assets $1,993,182,936 $1,929,694,130
LIABILITIES AND SHAREHOLDERS’ EQUITY
NONINTEREST-BEARING DEPOSITS $   425,473,353 $    389,406,666
INTEREST-BEARING DEPOSITS  1,286,088,863  1,295,755,932
Total deposits 1,711,562,216 1,685,162,598
DIVIDENDS PAYABLE 4,327,374 3,699,976
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE 26,708,994 19,847,067
OTHER LIABILITIES       11,816,707         7,330,476
Total liabilities    1,754,415,291  1,716,040,117
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS’ EQUITY:
Common stock, $10 par value; authorized 20,000,000 shares;
    12,364,201 and 12,333,252 issued and outstanding at   
    December 31, 2002 and 2001, respectively 123,642,010 123,332,520
Capital surplus58,087,687 57,824,061
Retained earnings 45,647,522 28,375,353
Accumulated other comprehensive earnings        11,390,426         4,122,079
Total shareholders’ equity      238,767,645     213,654,013
Total liabilities and shareholders’ equity $1,993,182,936 $1,929,694,130