SOUTHSIDE BANCSHARES INC

For the period ended Jun 30, 2025. Filed Jul 25, 2025.

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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.

Jun 30, 2025 · Filed Jul 25, 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)

	Six Months Ended
	June 30,
	2025	2024
OPERATING ACTIVITIES:
Net income	$43,320	$46,184
Adjustments to reconcile net income to net cash provided by operations:
Depreciation and net amortization	5,310	4,962
Securities premium amortization (discount accretion), net	3,562	3,376
Loan (discount accretion) premium amortization, net	389	225
Provision for (reversal of) credit losses	1,380	(427)
Stock compensation expense	1,600	1,517
Deferred tax expense (benefit)	(400)	15
Net (gain) loss on sale of AFS securities	554	581
Net loss on premises and equipment	1,293	41
Gross proceeds from sales of loans held for sale	8,332	8,731
Gross originations of loans held for sale	(6,814)	(7,181)
Net (gain) loss on consumer receivables	—	412
Net (gain) loss on OREO	136	58
Gain on purchase of subordinated notes	—	(178)
Net change in:
Interest receivable	1,178	96
Other assets	1,564	(27,625)
Interest payable	586	(322)
Other liabilities	(32,105)	44,312
Net cash provided by (used in) operating activities	29,885	74,777
INVESTING ACTIVITIES:
Securities AFS:
Purchases	(256,059)	(604,133)
Sales	120,242	100,259
Maturities, calls and principal repayments	254,464	435,095
Securities HTM:
Maturities, calls and principal repayments	7,747	2,549
Proceeds from redemption of FHLB stock and equity investments	18,112	29,930
Purchases of FHLB stock and equity investments	(8,713)	(50,825)
Net loan paydowns (originations)	59,252	(66,830)
Proceeds from sales of customer receivables	—	7,600
Purchases of premises and equipment	(10,366)	(3,668)
Proceeds from (purchases of) BOLI	1,143	3,440
Proceeds from sales of premises and equipment	(288)	(3)
Net proceeds from sales of OREO	—	58
Proceeds from sales of repossessed assets	68	97
Net cash provided by (used in) investing activities	185,602	(146,431)
(continued)

SOUTHSIDE BANCSHARES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS (continued)
(UNAUDITED)
(in thousands)
	Six Months Ended
	June 30,
	2025	2024
FINANCING ACTIVITIES:
Net change in deposits	(22,321)	(53,760)
Net change in other borrowings	23,398	(308,402)
Proceeds from FHLB borrowings	2,716,000	3,740,000
Repayment of FHLB borrowings	(2,936,383)	(3,390,366)
Purchase/redemption of subordinated notes	—	(1,805)
Proceeds from stock option exercises	703	435
Cash paid to tax authority related to tax withholding on share-based awards	(558)	(251)
Purchase of common stock	(11,076)	(1,510)
Proceeds from the issuance of common stock for dividend reinvestment plan	514	596
Cash dividends paid	(21,830)	(21,797)
Net cash provided by (used in) financing activities	(251,553)	(36,860)
Net increase (decrease) in cash and cash equivalents	(36,066)	(108,514)
Cash and cash equivalents at beginning of period	426,161	560,510
Cash and cash equivalents at end of period	$390,095	$451,996
SUPPLEMENTAL DISCLOSURES FOR CASH FLOW INFORMATION:
Interest paid	$90,146	$100,310
Income taxes paid	$8,750	$7,000
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES:
Loans transferred to other repossessed assets and real estate through foreclosure	$202	$785
Unsettled trades to purchase securities	$50,514	$54,354
Unsettled trades to repurchase common stock	$747	$—

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