| | ||||||||||||||||||||||||
Title of Each Class of Securities
To Be Registered |
| |
Amount
To Be Registered |
| |
Proposed Maximum
Aggregate Price Per Share |
| |
Proposed Maximum
Aggregate Offering Price |
| |
Amount of
Registration Fee (1) |
| ||||||||||||
Common Stock, par value $1.25 per
share |
| | | | 2,185,000 | | | | | $ | 36.50 | | | | | $ | 79,752,500 | | | | | $ | 9,243.31 | | |
|
| | |
Per Share
|
| |
Total
|
| ||||||
Price to public
|
| | | $ | 36.5000 | | | | | $ | 69,350,000 | | |
Underwriting discounts
|
| | | $ | 1.6425 | | | | | $ | 3,120,750 | | |
Proceeds to us, before expenses
|
| | | $ | 34.8575 | | | | | $ | 66,229,250 | | |
| | |
Page
|
| |||
| | | | S-ii | | | |
| | | | S-ii | | | |
| | | | S-iii | | | |
| | | | S-v | | | |
| | | | S-1 | | | |
| | | | S-7 | | | |
| | | | S-10 | | | |
| | | | S-11 | | | |
| | | | S-12 | | | |
| | | | S-13 | | | |
| | | | S-14 | | | |
| | | | S-18 | | | |
| | | | S-20 | | | |
| | | | S-24 | | | |
| | | | S-24 | | |
| | |
Page
|
| |||
| | | | 1 | | | |
| | | | 1 | | | |
| | | | 2 | | | |
| | | | 3 | | | |
| | | | 5 | | | |
| | | | 5 | | | |
| | | | 6 | | | |
| | | | 7 | | | |
| | | | 8 | | | |
| | | | 9 | | | |
| | | | 12 | | | |
| | | | 13 | | | |
| | | | 21 | | | |
| | | | 21 | | | |
| | | | 22 | | | |
| | | | 23 | | | |
| | | | 25 | | | |
| | | | 25 | | |
| | |
As of and for
the Nine Months Ended September 30, 2016 |
| |
As of and for the Years Ended December 31,
|
| ||||||||||||||||||||||||||||||
| | |
2015
|
| |
2014(1)
|
| |
2013
|
| |
2012
|
| |
2011
|
| |||||||||||||||||||||
| | |
(in thousands, except per share data)
|
| |||||||||||||||||||||||||||||||||
Income Statement Data | | | | | | | | ||||||||||||||||||||||||||||||
Interest income
|
| | | $ | 125,233 | | | | | $ | 154,532 | | | | | $ | 123,778 | | | | | $ | 119,602 | | | | | $ | 116,020 | | | | | $ | 131,038 | | |
Interest expense
|
| | | | 20,309 | | | | | | 19,854 | | | | | | 16,956 | | | | | | 17,968 | | | | | | 26,895 | | | | | | 35,631 | | |
Net interest income
|
| | | | 104,924 | | | | | | 134,678 | | | | | | 106,822 | | | | | | 101,634 | | | | | | 89,125 | | | | | | 95,407 | | |
Provision for loan losses
|
| | | | 7,715 | | | | | | 8,343 | | | | | | 14,938 | | | | | | 8,879 | | | | | | 10,736 | | | | | | 7,496 | | |
Net interest income after provision for loan losses
|
| | | | 97,209 | | | | | | 126,335 | | | | | | 91,884 | | | | | | 92,755 | | | | | | 78,389 | | | | | | 87,911 | | |
Noninterest income
|
| | | | 32,698 | | | | | | 37,895 | | | | | | 24,489 | | | | | | 35,245 | | | | | | 40,021 | | | | | | 35,322 | | |
Noninterest expense
|
| | | | 83,645 | | | | | | 112,954 | | | | | | 97,704 | | | | | | 81,713 | | | | | | 76,107 | | | | | | 72,348 | | |
Income before income tax expense
|
| | | | 46,262 | | | | | | 51,276 | | | | | | 18,669 | | | | | | 46,287 | | | | | | 42,303 | | | | | | 50,885 | | |
Income tax expense (benefit)
|
| | | | 8,486 | | | | | | 7,279 | | | | | | (2,164) | | | | | | 5,097 | | | | | | 7,608 | | | | | | 10,394 | | |
Net income
|
| | | | 37,776 | | | | | | 43,997 | | | | | | 20,833 | | | | | | 41,190 | | | | | | 34,695 | | | | | | 40,491 | | |
Net income attributable
to the noncontrolling interest |
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (1,358) | | |
Net income attributable
to Southside Bancshares, Inc. |
| | | $ | 37,776 | | | | | $ | 43,997 | | | | | $ | 20,833 | | | | | $ | 41,190 | | | | | $ | 34,695 | | | | | $ | 39,133 | | |
Balance Sheet Data | | | | | | | | ||||||||||||||||||||||||||||||
Investment securities
|
| | | $ | 896,695 | | | | | $ | 752,135 | | | | | $ | 695,529 | | | | | $ | 728,981 | | | | | $ | 618,716 | | | | | $ | 284,452 | | |
Mortgage-backed securities
|
| | | | 1,501,115 | | | | | | 1,492,653 | | | | | | 1,395,498 | | | | | | 1,115,827 | | | | | | 1,051,898 | | | | | | 1,729,516 | | |
Loans, net of allowance for loan losses
|
| | | | 2,467,648 | | | | | | 2,412,017 | | | | | | 2,167,841 | | | | | | 1,332,396 | | | | | | 1,242,392 | | | | | | 1,068,690 | | |
Total assets(2)
|
| | | | 5,464,903 | | | | | | 5,161,996 | | | | | | 4,807,176 | | | | | | 3,445,574 | | | | | | 3,237,309 | | | | | | 3,303,717 | | |
Deposits
|
| | | | 3,581,387 | | | | | | 3,455,407 | | | | | | 3,374,417 | | | | | | 2,527,808 | | | | | | 2,351,897 | | | | | | 2,321,671 | | |
Long-term obligations(2)
|
| | | | 621,640 | | | | | | 562,512 | | | | | | 660,278 | | | | | | 559,571 | | | | | | 429,314 | | | | | | 320,935 | | |
Shareholders’ equity
|
| | | | 472,560 | | | | | | 444,062 | | | | | | 425,243 | | | | | | 259,518 | | | | | | 257,763 | | | | | | 258,927 | | |
Per Share Data | | | | | | | | ||||||||||||||||||||||||||||||
Earnings per common share, basic(3)
|
| | | $ | 1.43 | | | | | $ | 1.65 | | | | | $ | 0.99 | | | | | $ | 1.99 | | | | | $ | 1.65 | | | | | $ | 1.86 | | |
Earnings per common share, diluted(3)
|
| | | | 1.43 | | | | | | 1.65 | | | | | | 0.99 | | | | | | 1.99 | | | | | | 1.65 | | | | | | 1.86 | | |
Cash dividends paid per common share
|
| | | | 0.71 | | | | | | 1.00 | | | | | | 0.96 | | | | | | 0.91 | | | | | | 1.11 | | | | | | 0.90 | | |
Weighted average common
shares outstanding, basic(3) |
| | | | 26,314 | | | | | | 26,621 | | | | | | 21,033 | | | | | | 20,697 | | | | | | 21,069 | | | | | | 21,005 | | |
| | |
As of and for
the Nine Months Ended September 30, 2016 |
| |
As of and for the Years Ended December 31,
|
| ||||||||||||||||||||||||||||||
| | |
2015
|
| |
2014(1)
|
| |
2013
|
| |
2012
|
| |
2011
|
| |||||||||||||||||||||
| | |
(in thousands, except per share data)
|
| |||||||||||||||||||||||||||||||||
Weighted average common
shares outstanding, diluted(3) |
| | | | 26,425 | | | | | | 26,711 | | | | | | 21,137 | | | | | | 20,741 | | | | | | 21,084 | | | | | | 21,015 | | |
Book value per common share(3)
|
| | | | 17.98 | | | | | | 16.66 | | | | | | 16.00 | | | | | | 12.51 | | | | | | 12.43 | | | | | | 12.30 | | |
Tangible book value per share(3)(4)
|
| | | | 14.31 | | | | | | 12.97 | | | | | | 12.23 | | | | | | 11.44 | | | | | | 11.34 | | | | | | 11.22 | | |
Performance Ratios | | | | | | | | ||||||||||||||||||||||||||||||
Return on average assets
|
| | | | 0.98% | | | | | | 0.90% | | | | | | 0.60% | | | | | | 1.22% | | | | | | 1.05% | | | | | | 1.25% | | |
Return on average equity
|
| | | | 10.87 | | | | | | 10.04 | | | | | | 7.24 | | | | | | 16.50 | | | | | | 12.83 | | | | | | 16.20 | | |
Return on average tangible
common equity(4) |
| | | | 14.11 | | | | | | 13.39 | | | | | | 7.99 | | | | | | 18.15 | | | | | | 14.05 | | | | | | 17.95 | | |
Net interest margin
|
| | | | 3.35 | | | | | | 3.40 | | | | | | 3.77 | | | | | | 3.69 | | | | | | 3.26 | | | | | | 3.60 | | |
Efficiency ratio(4)
|
| | | | 54.78 | | | | | | 59.32 | | | | | | 55.42 | | | | | | 55.71 | | | | | | 60.59 | | | | | | 55.21 | | |
Asset Quality Ratios | | | | | | | | ||||||||||||||||||||||||||||||
Nonperforming assets to total loans and other real estate(5)
|
| | | | 0.64% | | | | | | 1.34% | | | | | | 0.56% | | | | | | 1.01% | | | | | | 1.16% | | | | | | 1.21% | | |
Nonaccrual loans to total loans(5)
|
| | | | 0.34 | | | | | | 0.84 | | | | | | 0.19 | | | | | | 0.60 | | | | | | 0.82 | | | | | | 0.95 | | |
Allowance for loan losses to total loans
|
| | | | 0.64 | | | | | | 0.81 | | | | | | 0.61 | | | | | | 1.40 | | | | | | 1.63 | | | | | | 1.71 | | |
Allowance for loan losses to nonperforming loans(5)
|
| | | | 101.67 | | | | | | 62.31 | | | | | | 133.27 | | | | | | 157.58 | | | | | | 154.46 | | | | | | 149.36 | | |
Net charge-offs to average
total loans |
| | | | 0.63 | | | | | | 0.09 | | | | | | 1.44 | | | | | | 0.82 | | | | | | 0.74 | | | | | | 0.92 | | |
Capital Ratios | | | | | | | | ||||||||||||||||||||||||||||||
Tier 1 leverage ratio
|
| | | | 8.55% | | | | | | 8.61% | | | | | | 11.35% | | | | | | 9.07% | | | | | | 9.11% | | | | | | 8.64% | | |
Common equity Tier 1 capital ratio
|
| | | | 12.29 | | | | | | 12.71 | | | | | | N/A | | | | | | N/A | | | | | | N/A | | | | | | N/A | | |
Tier 1 risk-based capital ratio
|
| | | | 14.07 | | | | | | 14.56 | | | | | | 16.12 | | | | | | 20.47 | | | | | | 21.16 | | | | | | 21.11 | | |
Total risk-based capital ratio
|
| | | | 17.80 | | | | | | 15.27 | | | | | | 16.69 | | | | | | 21.71 | | | | | | 22.42 | | | | | | 22.36 | | |
Total shareholders’ equity to total assets
|
| | | | 8.65 | | | | | | 8.60 | | | | | | 8.85 | | | | | | 7.53 | | | | | | 7.96 | | | | | | 7.84 | | |
Tangible common equity to tangible assets(4)
|
| | | | 7.00 | | | | | | 6.83 | | | | | | 6.91 | | | | | | 6.93 | | | | | | 7.32 | | | | | | 7.20 | | |
| | |
As of and for
the Nine Months Ended September 30, 2016 |
| |
As of and for the Years Ended December 31,
|
| ||||||||||||||||||||||||||||||
| | |
2015
|
| |
2014(1)
|
| |
2013
|
| |
2012
|
| |
2011
|
| |||||||||||||||||||||
| | |
(in thousands)
|
| |||||||||||||||||||||||||||||||||
Net income available to common shareholders
|
| | | $ | 37,776 | | | | | $ | 43,997 | | | | | $ | 20,833 | | | | | $ | 41,190 | | | | | $ | 34,695 | | | | | $ | 39,133 | | |
After-tax amortization expense
|
| | | | 967 | | | | | | 1,496 | | | | | | 133 | | | | | | 98 | | | | | | 133 | | | | | | 170 | | |
Adjusted net income available to common shareholders
|
| | | $ | 38,743 | | | | | $ | 45,493 | | | | | $ | 20,966 | | | | | $ | 41,288 | | | | | $ | 34,828 | | | | | $ | 39,303 | | |
Average common equity
|
| | | $ | 464,008 | | | | | $ | 438,427 | | | | | $ | 287,768 | | | | | $ | 249,709 | | | | | $ | 270,358 | | | | | $ | 241,560 | | |
Average intangible assets
|
| | | | (97,365) | | | | | | (98,702) | | | | | | (25,377) | | | | | | (22,287) | | | | | | (22,460) | | | | | | (22,574) | | |
Average tangible common equity
|
| | | $ | 366,643 | | | | | $ | 339,725 | | | | | $ | 262,391 | | | | | $ | 227,422 | | | | | $ | 247,898 | | | | | $ | 218,986 | | |
Return on average equity
|
| | | | 10.87% | | | | | | 10.04% | | | | | | 7.24% | | | | | | 16.50% | | | | | | 12.83% | | | | | | 16.20% | | |
Return on average tangible common
equity |
| | | | 14.11% | | | | | | 13.39% | | | | | | 7.99% | | | | | | 18.15% | | | | | | 14.05% | | | | | | 17.95% | | |
| | |
As of and for
the Nine Months Ended September 30, 2016 |
| |
As of and for the Years Ended December 31,
|
| |||||||||||||||||||||||||||||||||
| | |
2015
|
| |
2014(1)
|
| |
2013
|
| |
2012
|
| |
2011
|
| | |||||||||||||||||||||||
| | |
(in thousands)
|
| | |||||||||||||||||||||||||||||||||||
Total shareholders’ equity
|
| | | $ | 472,560 | | | | | $ | 444,062 | | | | | $ | 425,243 | | | | | $ | 259,518 | | | | | $ | 257,763 | | | | | $ | 258,927 | | | | ||
Goodwill
|
| | | | (91,520) | | | | | | (91,520) | | | | | | (91,372) | | | | | | (22,034) | | | | | | (22,034) | | | | | | (22,034) | | | | ||
Other intangible assets, net
|
| | | | (5,060) | | | | | | (6,548) | | | | | | (8,844) | | | | | | (178) | | | | | | (324) | | | | | | (522) | | | | ||
Tangible common equity
|
| | | $ | 375,980 | | | | | $ | 345,994 | | | | | $ | 325,027 | | | | | $ | 237,306 | | | | | $ | 235,405 | | | | | $ | 236,371 | | | | ||
Total assets(2)
|
| | | $ | 5,464,903 | | | | | $ | 5,161,996 | | | | | $ | 4,807,176 | | | | | $ | 3,445,574 | | | | | $ | 3,237,309 | | | | | $ | 3,303,717 | | | | ||
Goodwill
|
| | | | (91,520) | | | | | | (91,520) | | | | | | (91,372) | | | | | | (22,034) | | | | | | (22,034) | | | | | | (22,034) | | | | ||
Other intangible assets, net
|
| | | | (5,060) | | | | | | (6,548) | | | | | | (8,844) | | | | | | (178) | | | | | | (324) | | | | | | (522) | | | | ||
Tangible assets
|
| | | $ | 5,368,323 | | | | | $ | 5,063,928 | | | | | $ | 4,706,960 | | | | | $ | 3,423,362 | | | | | $ | 3,214,951 | | | | | $ | 3,281,161 | | | | ||
Total shareholders’ equity to total assets
|
| | | | 8.65% | | | | | | 8.60% | | | | | | 8.85% | | | | | | 7.53% | | | | | | 7.96% | | | | | | 7.84% | | | | ||
Tangible common equity to tangible assets
|
| | | | 7.00% | | | | | | 6.83% | | | | | | 6.91% | | | | | | 6.93% | | | | | | 7.32% | | | | | | 7.20% | | | |
| | |
As of and for
the Nine Months Ended September 30, 2016 |
| |
As of and for the Years Ended December 31,
|
| |||||||||||||||||||||||||||||||||
| | |
2015
|
| |
2014(1)
|
| |
2013
|
| |
2012
|
| |
2011
|
| | |||||||||||||||||||||||
| | |
(in thousands, except per share data)
|
| | |||||||||||||||||||||||||||||||||||
Total shareholders’ equity
|
| | | $ | 472,560 | | | | | $ | 444,062 | | | | | $ | 425,243 | | | | | $ | 259,518 | | | | | $ | 257,763 | | | | | $ | 258,927 | | | | ||
Tangible common equity
|
| | | | 375,980 | | | | | | 345,994 | | | | | | 325,027 | | | | | | 237,306 | | | | | | 235,405 | | | | | | 236,371 | | | | ||
Common shares outstanding
|
| | | | 26,278 | | | | | | 26,670 | | | | | | 26,587 | | | | | | 20,749 | | | | | | 20,756 | | | | | | 21,063 | | | | ||
Book value per share
|
| | | $ | 17.98 | | | | | $ | 16.66 | | | | | $ | 16.00 | | | | | $ | 12.51 | | | | | $ | 12.43 | | | | | $ | 12.30 | | | | ||
Tangible book value per share
|
| | | $ | 14.31 | | | | | $ | 12.97 | | | | | $ | 12.23 | | | | | $ | 11.44 | | | | | $ | 11.34 | | | | | $ | 11.22 | | | |
| | |
As of and for
the Nine Months Ended September 30, 2016 |
| |
As of and for the Years Ended December 31,
|
| |||||||||||||||||||||||||||||||||
| | |
2015
|
| |
2014(1)
|
| |
2013
|
| |
2012
|
| |
2011
|
| | |||||||||||||||||||||||
| | |
(in thousands)
|
| | |||||||||||||||||||||||||||||||||||
Noninterest expense
|
| | | $ | 83,645 | | | | | $ | 112,954 | | | | | $ | 97,704 | | | | | $ | 81,713 | | | | | $ | 76,107 | | | | | $ | 72,348 | | | | ||
Pre-tax amortization expense
|
| | | | (1,488) | | | | | | (2,301) | | | | | | (204) | | | | | | (151) | | | | | | (204) | | | | | | (262) | | | | ||
Nonrecurring expense
|
| | | | (2,344) | | | | | | (527) | | | | | | (15,838) | | | | | | (1,268) | | | | | | (228) | | | | | | (84) | | | | ||
Adjusted noninterest expense
|
| | | $ | 79,813 | | | | | $ | 110,126 | | | | | $ | 81,662 | | | | | $ | 80,294 | | | | | $ | 75,675 | | | | | $ | 72,002 | | | | ||
Net interest income (taxable equivalent)
|
| | | $ | 118,212 | | | | | $ | 151,400 | | | | | $ | 122,946 | | | | | $ | 117,317 | | | | | $ | 100,128 | | | | | $ | 105,593 | | | | ||
Noninterest income
|
| | | | 32,698 | | | | | | 37,895 | | | | | | 24,489 | | | | | | 35,245 | | | | | | 40,021 | | | | | | 35,322 | | | | ||
Nonrecurring income
|
| | | | (5,202) | | | | | | (3,660) | | | | | | (75) | | | | | | (8,430) | | | | | | (15,256) | | | | | | (10,502) | | | | ||
Total revenue
|
| | | $ | 145,708 | | | | | $ | 185,635 | | | | | $ | 147,360 | | | | | $ | 144,132 | | | | | $ | 124,893 | | | | | $ | 130,413 | | | | ||
Efficiency ratio
|
| | | | 54.78% | | | | | | 59.32% | | | | | | 55.42% | | | | | | 55.71% | | | | | | 60.59% | | | | | | 55.21% | | | |
| | |
As of September 30, 2016
|
| |||||||||
| | |
Actual
|
| |
As-Adjusted
|
| ||||||
| | |
(In thousands, except share data)
|
| |||||||||
Short-term obligations | | | | | | | | | | | | | |
Federal funds purchased and repurchase agreements
|
| | | $ | 11,516 | | | | | $ | 11,516 | | |
FHLB advances
|
| | | | 709,118 | | | | | | 709,118 | | |
Total short-term obligations
|
| | | $ | 720,634 | | | | | $ | 720,634 | | |
Long-term obligations | | | | | | | | | | | | | |
FHLB advances
|
| | | $ | 463,316 | | | | | $ | 463,316 | | |
Subordinated notes, net of unamortized debt issuance costs
|
| | | | 98,089 | | | | | | 98,089 | | |
Long-term debt, net of unamortized debt issuance costs
|
| | | | 60,235 | | | | | | 60,235 | | |
Total long-term obligations
|
| | | $ | 621,640 | | | | | $ | 621,640 | | |
Shareholders’ equity | | | | | | | | | | | | | |
Common stock ($1.25 par value, 40,000,000 shares authorized, 29,191,241 shares issued, actual and 31,091,241 as adjusted)(1)
|
| | | $ | 36,489 | | | | | $ | 38,864 | | |
Paid-in capital
|
| | | | 459,808 | | | | | | 523,412 | | |
Retained earnings
|
| | | | 26,420 | | | | | | 26,420 | | |
Treasury stock, at cost (2,913,064 shares at September 30, 2016, actual and as adjusted)
|
| | | | (47,891) | | | | | | (47,891) | | |
Accumulated other comprehensive loss
|
| | | | (2,266) | | | | | | (2,266) | | |
Total shareholders’ equity
|
| | | $ | 472,560 | | | | | $ | 538,539 | | |
Total capitalization
|
| | | $ | 1,814,834 | | | | | $ | 1,880,813 | | |
|
| | |
Sales price per share
|
| |
Cash dividends
per share |
| ||||||||||||
| | |
High
|
| |
Low
|
| ||||||||||||
2016 | | | | | |||||||||||||||
Fourth Quarter (through December 2)
|
| | | $ | 38.47 | | | | | $ | 31.54 | | | | | $ | 0.30 | | |
Third Quarter
|
| | | | 33.17 | | | | | | 30.25 | | | | | | 0.24 | | |
Second Quarter
|
| | | | 31.28 | | | | | | 23.62 | | | | | | 0.24 | | |
First Quarter
|
| | | | 25.47 | | | | | | 18.67 | | | | | | 0.23 | | |
2015 | | | | | |||||||||||||||
Fourth Quarter
|
| | | | 27.52 | | | | | | 22.88 | | | | | | 0.31 | | |
Third Quarter
|
| | | | 28.30 | | | | | | 23.25 | | | | | | 0.23 | | |
Second Quarter
|
| | | | 28.34 | | | | | | 24.94 | | | | | | 0.23 | | |
First Quarter
|
| | | | 27.66 | | | | | | 23.50 | | | | | | 0.23 | | |
2014 | | | | | |||||||||||||||
Fourth Quarter
|
| | | | 31.11 | | | | | | 26.20 | | | | | | 0.32 | | |
Third Quarter
|
| | | | 31.16 | | | | | | 25.83 | | | | | | 0.22 | | |
Second Quarter
|
| | | | 28.26 | | | | | | 23.17 | | | | | | 0.21 | | |
First Quarter
|
| | | | 27.30 | | | | | | 21.75 | | | | | | 0.21 | | |
| | |
Per Share
|
| |
No Exercise
|
| |
Full Exercise
|
| |||||||||
Public offering price
|
| | | $ | 36.5000 | | | | | $ | 69,350,000.00 | | | | | $ | 79,752,500.00 | | |
Underwriting discount
|
| | | $ | 1.6425 | | | | | $ | 3,120,750.00 | | | | | $ | 3,588,862.50 | | |
Proceeds, before expenses, to us
|
| | | $ | 34.8575 | | | | | $ | 66,229,250.00 | | | | | $ | 76,163,637.50 | | |
| | | | | 1 | | | |
| | | | | 1 | | | |
| | | | | 2 | | | |
| | | | | 3 | | | |
| | | | | 5 | | | |
| | | | | 5 | | | |
| | | | | 6 | | | |
| | | | | 7 | | | |
| | | | | 8 | | | |
| | | | | 9 | | | |
| | | | | 12 | | | |
| | | | | 13 | | | |
| | | | | 21 | | | |
| | | | | 21 | | | |
| | | | | 22 | | | |
| | | | | 23 | | | |
| | | | | 25 | | | |
| | | | | 25 | | |
| | |
As of and for
the Six Months Ended June 30, 2016 |
| |
As of and for the Years Ended December 31,
|
| ||||||||||||||||||||||||||||||
| | |
2015
|
| |
2014(1)
|
| |
2013
|
| |
2012
|
| |
2011
|
| |||||||||||||||||||||
| | |
(in thousands, except per share data)
|
| |||||||||||||||||||||||||||||||||
Balance Sheet Data: | | | | | | | | ||||||||||||||||||||||||||||||
Investment Securities
|
| | | $ | 692,072 | | | | | $ | 752,135 | | | | | $ | 695,529 | | | | | $ | 728,981 | | | | | $ | 618,716 | | | | | $ | 284,452 | | |
Mortgage-backed Securities
|
| | | | 1,509,188 | | | | | | 1,492,653 | | | | | | 1,395,498 | | | | | | 1,115,827 | | | | | | 1,051,898 | | | | | | 1,729,516 | | |
Loans, Net of Allowance for
Loan Losses |
| | | | 2,369,413 | | | | | | 2,412,017 | | | | | | 2,167,841 | | | | | | 1,332,396 | | | | | | 1,242,392 | | | | | | 1,068,690 | | |
Total Assets
|
| | | | 5,035,005 | | | | | | 5,162,076 | | | | | | 4,807,261 | | | | | | 3,445,663 | | | | | | 3,237,403 | | | | | | 3,303,817 | | |
Deposits
|
| | | | 3,570,249 | | | | | | 3,455,407 | | | | | | 3,374,417 | | | | | | 2,527,808 | | | | | | 2,351,897 | | | | | | 2,321,671 | | |
Long-term Obligations
|
| | | | 559,148 | | | | | | 562,592 | | | | | | 660,363 | | | | | | 559,660 | | | | | | 429,408 | | | | | | 321,035 | | |
Shareholders’ Equity
|
| | | | 472,300 | | | | | | 444,062 | | | | | | 425,243 | | | | | | 259,518 | | | | | | 257,763 | | | | | | 258,927 | | |
Income Statement Data: | | | | | | | | ||||||||||||||||||||||||||||||
Interest Income
|
| | | $ | 84,101 | | | | | $ | 154,532 | | | | | $ | 123,778 | | | | | $ | 119,602 | | | | | $ | 116,020 | | | | | $ | 131,038 | | |
Interest Expense
|
| | | | 13,105 | | | | | | 19,854 | | | | | | 16,956 | | | | | | 17,968 | | | | | | 26,895 | | | | | | 35,631 | | |
Provision for Loan Losses
|
| | | | 6,084 | | | | | | 8,343 | | | | | | 14,938 | | | | | | 8,879 | | | | | | 10,736 | | | | | | 7,496 | | |
Deposit Service Income
|
| | | | 10,184 | | | | | | 20,112 | | | | | | 15,280 | | | | | | 15,560 | | | | | | 15,433 | | | | | | 15,943 | | |
Net Gain on Sale of Securities Available for Sale
|
| | | | 3,169 | | | | | | 3,660 | | | | | | 2,830 | | | | | | 8,472 | | | | | | 17,966 | | | | | | 11,795 | | |
Noninterest Income
|
| | | | 20,966 | | | | | | 37,895 | | | | | | 24,489 | | | | | | 35,245 | | | | | | 40,021 | | | | | | 35,322 | | |
Noninterest Expense
|
| | | | 55,222 | | | | | | 112,954 | | | | | | 97,704 | | | | | | 81,713 | | | | | | 76,107 | | | | | | 72,348 | | |
Net Income Attributable to Southside Bancshares, Inc.
|
| | | | 24,911 | | | | | | 43,997 | | | | | | 20,833 | | | | | | 41,190 | | | | | | 34,695 | | | | | | 39,133 | | |
Per Share Data: | | | | | | | | ||||||||||||||||||||||||||||||
Earnings Per Common Share: | | | | | | | | ||||||||||||||||||||||||||||||
Basic
|
| | | $ | 0.94 | | | | | $ | 1.65 | | | | | $ | 0.99 | | | | | $ | 1.99 | | | | | $ | 1.65 | | | | | $ | 1.86 | | |
Diluted
|
| | | | 0.94 | | | | | | 1.65 | | | | | | 0.99 | | | | | | 1.99 | | | | | | 1.65 | | | | | | 1.86 | | |
Cash Dividends Paid Per
Common Share |
| | | | 0.47 | | | | | | 1.00 | | | | | | 0.96 | | | | | | 0.91 | | | | | | 1.11 | | | | | | 0.90 | | |
Book Value Per Common Share
|
| | | | 17.99 | | | | | | 16.66 | | | | | | 16.00 | | | | | | 12.51 | | | | | | 12.43 | | | | | | 12.30 | | |
| | |
Six Months
Ended June 30, 2016 |
| |
Year Ended December 31,
|
| ||||||||||||||||||||||||||||||
| | |
2015
|
| |
2014
|
| |
2013
|
| |
2012
|
| |
2011
|
| |||||||||||||||||||||
Ratio of Earnings to Fixed Charges | | | | | | | | ||||||||||||||||||||||||||||||
Excluding interest on deposits
|
| | | | 5.8 | | | | | | 6.2 | | | | | | 3.1 | | | | | | 5.7 | | | | | | 3.6 | | | | | | 3.5 | | |
Including interest on deposits
|
| | | | 3.3 | | | | | | 3.6 | | | | | | 2.1 | | | | | | 3.6 | | | | | | 2.6 | | | | | | 2.4 | | |