good addition to the Sweetwater bank, and we are pleased
to have a location in the Trent community.
We are honored that Johnny Trotter, President and Chief
Executive Ofﬁcer of Livestock Investors, Ltd., has accepted
nomination for election as a new director of the Company
at our annual shareholder meeting in April 2003. He is
presently a director of the Hereford State Bank and a
prominent business, community and cattle industry leader.
Craig Smith, President and Chief Executive Officer of
Hereford State Bank, retired at the end of 2002, after 31
years of service to the bank. Craig also served as a direc-
tor on our Company board. Mike Mauldin, a well-known
Texas Panhandle banker with over 23 years of banking
experience, has been elected President and Chief Executive
Ofﬁcer of the Hereford State Bank to succeed Craig.
After 12 years of service, Curtis Harvey, Executive Vice
President and Chief Financial Ofﬁcer, will be leaving the
Company on March 31, 2003, to manage his new business
interest in Fort Worth. J. Bruce Hildebrand has been
elected to succeed Curtis. Bruce, a CPA, was a ﬁnancial
services audit partner at KPMG LLP , where he worked for
24 years. He is well-qualified for the Executive Vice
President/Chief Financial Ofﬁcer position due to his expe-
rience with publicly held companies and financial
institutions. The Board has also elected Gary L. Webb  as
Executive Vice President/Operations. Gary has over 15
years of experience in the banking and consulting indus-
tries, and will be managing our technology, operations,
training and product development. Over the next several
years, we plan to make additional investments in technol-
ogy in order to expand our services and gain operating
efﬁciencies for the Company.
We thank Craig and Curtis for their outstanding service and
dedication to the Company, and we welcome the newest
members of our management team. We are very honored
to have these experienced professionals join the
Company. We also are pleased that Kenneth T. Murphy
will continue as Chairman of the Board and in that role will
focus on acquisitions. With this experienced management
team, which includes our 10 bank presidents, we are
poised for growth and continued strong results. We
greatly appreciate both their efforts and those of our
directors and employees.
In 2003, we will continue to pursue opportunities to grow
and enhance shareholder value. We plan to actively seek
strategic acquisitions; look for additional branch locations
in higher-growth areas to expand our existing banks; and
increase our mortgage and brokerage operations. We cur-
rently are in the process of forming a trust company that
will consolidate our present trust operations, provide
greater expertise to our clients and allow us to expand trust
services to additional markets.
This year’s annual report features a few of the many peo-
ple that we work for every day – our shareholders and
customers. As we grow the Company, we promise that our
dedication to you will not waver, and that we will continue
to focus on the importance of value and values.
Thank you for your investment in and support for First
Financial Bankshares.
F. Scott Dueser
President and Chief Executive Ofﬁcer
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