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• Eastland National Bank, Eastland, Texas;
• First Financial Bank, National Association, Cleburne, Texas;
• Stephenville Bank and Trust Co., Stephenville, Texas;
• San Angelo National Bank, San Angelo, Texas;
• Weatherford National Bank, Weatherford, Texas;
• First Financial Bank, National Association, Southlake, Texas; and
• City National Bank, Mineral Wells, Texas.
As described in more detail below, we elected to be treated as a financial holding company in September 2001.
Our service centers are located primarily in North Central and West Texas. Considering the branches and
locations of all our subsidiary banks, as of December 31, 2002, we had 28 financial centers across Texas, with seven
locations in Abilene, two locations in Cleburne, two locations in Stephenville, two locations in San Angelo, three
locations in Weatherford, and one location each in Mineral Wells, Hereford, Sweetwater, Eastland, Southlake,
Aledo, Alvarado, Burleson, Keller, Trophy Club, Roby, and Trent.
Information on our revenues, profits and losses and total assets appears in the discussion of our Results of
Operations contained in Item 7 hereof.
First Financial Bankshares, Inc.
We provide management and technical resources and policy direction to our subsidiary banks, which enables
them to improve or expand their banking services while continuing their local activity and identity.  Each of our
subsidiary banks operates under the day-to-day management of its own board of directors and officers, with
substantial authority in making decisions concerning their own investments, loan policies, interest rates, and service
charges. We provide resources and policy direction in, among other things, the following areas:
• asset and liability management;
• accounting, budgeting, planning and insurance;
• capitalization; and
• regulatory compliance.
In particular, we assist our subsidiary banks with, among other things, decisions concerning major capital
expenditures, employee fringe benefits, including pension plans and group insurance, dividend policies, and
appointment of officers and directors and their compensation.  We also perform, through corporate staff groups or
by outsourcing to third parties, internal audits and loan reviews of our subsidiary banks.  Through First National
Bank of Abilene, we provide advice and specialized services for our banks related to lending, investing, purchasing,
advertising, public relations, and computer services.
While we have no specific acquisition agreements in place or commitments to expand our branch network, we
periodically evaluate various potential financial institution acquisition opportunities and also periodically evaluate
potential locations for new branch offices.  We anticipate that funding for any acquisitions or expansions would be
provided from our existing cash balances, available dividends from subsidiary banks, utilization of available lines of
credit and future debt or equity offerings.
Services Offered by Our Subsidiary Banks
Each of our subsidiary banks is a separate legal entity that operates under the day-to-day management of its own
board of directors and officers.  Each of our subsidiary banks provides general commercial banking services, which
include accepting and holding checking, savings and time deposits, making loans, automated teller machines, drive-
in and night deposit services, safe deposit facilities, transmitting funds, and performing other customary commercial
banking services. Certain of our subsidiary banks also administer pension plans, profit sharing plans and other
employee benefit plans. First National Bank of Abilene, First National Bank, Sweetwater, Stephenville Bank and
Trust Co. and San Angelo National Bank have active trust departments. The trust departments offer a complete