SOUTHSIDE BANCSHARES INC

For the period ended Mar 31, 2025. Filed Apr 30, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2025 · Filed Apr 30, 2025

SBSI$35.09+0.0%Stored close · as of Nov 10, 2026

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Contents

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

	Three Months Ended
	March 31,
	2025	2024
OPERATING ACTIVITIES:
Net income	$21,507	$21,511
Adjustments to reconcile net income to net cash provided by operations:
Depreciation and net amortization	2,615	2,468
Securities premium amortization (discount accretion), net	1,709	1,686
Loan (discount accretion) premium amortization, net	232	114
Provision for (reversal of) credit losses	758	58
Stock compensation expense	914	756
Deferred tax expense (benefit)	(315)	(142)
Net (gain) loss on sale of AFS securities	554	18
Net loss on premises and equipment	5	6
Gross proceeds from sales of loans held for sale	3,383	4,824
Gross originations of loans held for sale	(2,340)	(2,778)
Net (gain) loss on consumer receivables	—	512
Net change in:
Interest receivable	10,479	10,773
Other assets	656	17,911
Interest payable	1,147	(1,612)
Other liabilities	(17,364)	2,187
Net cash provided by (used in) operating activities	23,940	58,292
INVESTING ACTIVITIES:
Securities AFS:
Purchases	(218,691)	(386,212)
Sales	120,242	917
Maturities, calls and principal repayments	175,596	264,068
Securities HTM:
Maturities, calls and principal repayments	1,577	879
Proceeds from redemption of FHLB stock and equity investments	—	29,930
Purchases of FHLB stock and equity investments	(381)	(45,815)
Net loan paydowns (originations)	94,944	(53,390)
Proceeds from sales of customer receivables	—	7,600
Purchases of premises and equipment	(2,419)	(2,565)
Proceeds from (purchases of) BOLI	1,174	1,549
Proceeds from sales of premises and equipment	—	(2)
Proceeds from sales of repossessed assets	9	91
Net cash provided by (used in) investing activities	172,051	(182,950)
(continued)

SOUTHSIDE BANCSHARES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS (continued)
(UNAUDITED)
(in thousands)
	Three Months Ended
	March 31,
	2025	2024
FINANCING ACTIVITIES:
Net change in deposits	(63,422)	(3,926)
Net change in other borrowings	3,255	(52,135)
Proceeds from FHLB borrowings	1,670,000	1,580,000
Repayment of FHLB borrowings	(1,790,190)	(1,480,182)
Proceeds from stock option exercises	71	434
Cash paid to tax authority related to tax withholding on share-based awards	(219)	(84)
Proceeds from the issuance of common stock for dividend reinvestment plan	264	306
Cash dividends paid	(10,940)	(10,892)
Net cash provided by (used in) financing activities	(191,181)	33,521
Net increase (decrease) in cash and cash equivalents	4,810	(91,137)
Cash and cash equivalents at beginning of period	426,161	560,510
Cash and cash equivalents at end of period	$430,971	$469,373
SUPPLEMENTAL DISCLOSURES FOR CASH FLOW INFORMATION:
Interest paid	$45,289	$51,022
Income taxes paid	$—	$—
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES:
Loans transferred to other repossessed assets and real estate through foreclosure	$54	$113
Unsettled trades to purchase securities	$—	$(7,160)
Unsettled trades to sell securities	$—	$6,406
Unsettled trades to repurchase common stock	$—	$—

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.