text: **REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS**
  
  To the Board of Directors and Shareholders of 
  First Financial Bankshares, Inc. 
  
  We have audited the accompanying consolidated balance sheets of First Financial Bankshares, Inc. (a Texas 
  corporation) and subsidiaries as of December 31, 2001 and 2000, and the related consolidated statements of 
  earnings, comprehensive earnings, shareholders’ equity, and cash flows for each of the three years in the period 
  ended December 31, 2001. These financial statements are the responsibility of the Company’s management. Our 
  responsibility is to express an opinion on these financial statements based on our audits. 
  
  We conducted our audits in accordance with auditing standards generally accepted in the United States. Those 
  standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial 
  statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the 
  amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used 
  and significant estimates made by management, as well as evaluating the overall financial statement presentation. 
  We believe that our audits provide a reasonable basis for our opinion. 
  
  In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position 
  of First Financial Bankshares, Inc. and subsidiaries as of December 31, 2001 and 2000, and the results of their 
  operations and their cash flows for each of the three years in the period ended December 31, 2001, in conformity 
  with accounting principles generally accepted in the United States. 