text: **REPORT OF INDEPENDENT AUDITORS**
  
  To the Board of Directors and Shareholders of 
  First Financial Bankshares, Inc. 
  
  We have audited the accompanying consolidated balance sheet of First Financial Bankshares, Inc. (a Texas 
  corporation) and subsidiaries as of December 31, 2002, and the related consolidated statements of earnings, 
  comprehensive earnings, shareholders’ equity, and cash flows for the year then ended. 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 audit. The consolidated financial statements of First Financial Bankshares, Inc. and 
  subsidiaries as of December 31, 2001 and for each of the two years then ended, were audited by other auditors who 
  have ceased operations and whose report dated January 11, 2002, expressed an unqualified opinion on those 
  statements. 
  
  We conducted our audit 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 audit provides a reasonable basis for our opinion. 