FIRST FINANCIAL BANKSHARES, INC. AND SUBSIDIARIES
Consolidated Statements of Shareholders’ Equity
December 31, 2002, 2001 and 2000
The accompanying notes are an integral part of these consolidated financial statements.
F-7
Accumulated
Other
Treasury Comprehensive Total
          Common Stock          Capital Retained Stock, Earnings Shareholders’
   Shares      Amount       Surplus      Earnings          at cost          (Losses)        Equity     
BALANCE, December 31, 1999 9,972,193 $99,721,930 $60,538,481 $22,495,259     $         -      $(4,092,727) $178,662,943
Net earnings -       -       -      28,316,047 -      -       28,316,047
Cash dividends declared, $1.03 per share -       -       -      (12,808,111)      -      -       (12,808,111)
Acquisition of treasury stock -       -       -      -      (3,925,069)   -       (3,925,069)Stock issuances 10,809 108,090 53,829 -      -      -       161,919Change in unrealized gain (loss) on investment in
securities available-for-sale, net of related income taxes          -                   -       
            -                   -              -         5,713,159      5,713,159
BALANCE, December 31, 2000 9,983,002 $99,830,020 $60,592,310 $38,003,195 $(3,925,069) $ 1,620,432 $196,120,888
Net earnings -       -       -      29,354,505 -      -       29,354,505
Stock split, effected in the form of a 25% stock dividend 2,461,770 24,617,700     -      (24,617,700) -      -       -Cash dividends declared, $1.16 per share -       -       -      (14,364,647)      -      -       (14,364,647)Acquisition of treasury stock -       -       -      -      (315,050)   -       (315,050)Retirement of treasury stock (136,000) (1,360,000) (2,880,119) -      4,240,119 -       -Stock issuances 24,480 244,800 111,870 -      -      -       356,670Change in unrealized gain on investment in
securities available-for-sale, net of related income taxes          -                   -       
            -                   -              -         2,501,647      2,501,647
BALANCE, December 31, 2001 12,333,252 $123,332,520 $57,824,061 $28,375,353 $       -      $ 4,122,079 $213,654,013
Net earnings -       -       -      33,952,550 -      -       33,952,550
Cash dividends declared, $1.35 per share -       -       -      (16,680,381)      -      -       (16,680,381)Stock issuances 30,949 309,490 263,626 -      -      -       573,116Minimum liability pension adjustment, net of related
income taxes -      -       -     -     -     (1,440,283) (1,440,283)
Change in unrealized gain on investment in
securities available-for-sale, net of related income taxes          -                   -       
            -                   -              -         8,708,630      8,708,630
BALANCE, December 31, 2002 12,364,201 $123,642,010 $58,087,687 $45,647,522 $       -      $11,390,426 $238,767,645