FIRST FINANCIAL BANKSHARES, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements
December 31, 2002, 2001 and 2000
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16. CONDENSED FINANCIAL INFORMATION - PARENT COMPANY:
Condensed Balance Sheets-December 31, 2002 and 2001
ASSETS       2002             2001       
Cash in subsidiary bank $      903,319 $      579,686
Interest-bearing deposits in subsidiary banks    22,212,064   13,796,338
      Total cash and cash equivalents 23,115,383  14,376,024
Investment in subsidiaries, at equity 219,947,550 202,758,981
Intangible assets 917,350 723,375
Other assets         950,708         932,986
      Total assets $244,930,991 $218,791,366
LIABILITIES AND SHAREHOLDERS’ EQUITY
Total liabilities $    6,163,346 $    5,137,353
Shareholders’ equity:
Common stock 123,642,010 123,332,520
Capital surplus 58,087,687 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 $244,930,991 $218,791,366
Condensed Statements of Earnings-
 For the Years Ended December 31, 2002, 2001, and 2000
      2002            2001            2000      
Income:
Cash dividends from subsidiary banks $ 26,550,000 $ 25,500,000 $ 21,000,000
Excess of earnings over dividends of
subsidiary banks 8,479,939 4,582,993 7,383,516
Gain on sale of investment securities
available-for-sale -       -       530,097
Other income       944,911     1,092,375    1,325,613
  35,974,850   31,175,368  30,239,226
Expenses:
Salaries and employee benefits 1,451,136 1,160,903 1,067,664
Other operating expenses    1,142,832    1,015,184    1,288,508
   2,593,968    2,176,087    2,356,172
Earnings before income taxes 33,380,882 28,999,281 27,883,054
Income tax benefit       571,668       355,224       432,993
Net earnings $33,952,550 $29,354,505 $28,316,047