SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

HARTLEY BG

(Last)

(First)

(Middle)

SOUTHSIDE BANCSHARES INC

1201 SOUTH BECKHAM

(Street)

TYLER

75701

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
SOUTHSIDE BANCSHARES INC [ SBSI ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Director, COB & CEO

3. Date of Earliest Transaction (Month/Day/Year)
12/03/2004

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	12/03/2004		M⁽¹⁾		100	A	$3.7	86,970	D
Common Stock	12/03/2004		M⁽¹⁾		200	A	$3.7	87,170	D
Common Stock	12/03/2004		M⁽¹⁾		1,200	A	$3.7	88,370	D
Common Stock	12/03/2004		M⁽¹⁾		400	A	$3.7	88,770	D
Common Stock	12/03/2004		M⁽¹⁾		100	A	$3.7	88,870	D
Common Stock	12/03/2004		M⁽¹⁾		500	A	$3.7	89,370	D
Common Stock	12/03/2004		M⁽¹⁾		500	A	$3.7	89,870	D
Common Stock	12/03/2004		M⁽¹⁾		500	A	$3.7	90,370	D
Common Stock	12/03/2004		M⁽¹⁾		700	A	$3.7	91,070	D
Common Stock	12/03/2004		M⁽¹⁾		300	A	$3.7	91,370	D
Common Stock	12/03/2004		S⁽¹⁾		100	D	$24.82⁽¹⁾	91,270	D
Common Stock	12/03/2004		S⁽¹⁾		200	D	$24.85⁽¹⁾	91,070	D
Common Stock	12/03/2004		S⁽¹⁾		1,200	D	$24.86⁽¹⁾	89,870	D
Common Stock	12/03/2004		S⁽¹⁾		400	D	$25.06⁽¹⁾	89,470	D
Common Stock	12/03/2004		S⁽¹⁾		100	D	$25.05⁽¹⁾	89,370	D
Common Stock	12/03/2004		S⁽¹⁾		500	D	$25.14⁽¹⁾	88,870	D
Common Stock	12/03/2004		S⁽¹⁾		500	D	$25.26⁽¹⁾	88,370	D
Common Stock	12/03/2004		S⁽¹⁾		500	D	$25.29⁽¹⁾	87,870	D
Common Stock	12/03/2004		S⁽¹⁾		700	D	$25.32⁽¹⁾	87,170	D
Common Stock	12/03/2004		S⁽¹⁾		300	D	$25.33⁽¹⁾	86,870	D
Common Stock	12/03/2004		M⁽¹⁾		500	A	$3.7	87,370	D
Common Stock	12/03/2004		S⁽¹⁾		500	D	$25.31⁽¹⁾	86,870	D
Common Stock	06/18/2004		I⁽²⁾	V	158.38	A	$5.39	2,273.26	I	By ESOP for Spouse
Common Stock	03/18/2004		J⁽³⁾	V	76.22	A	$18.65	14,294.32	I	By Spouse/Sep. Prop.
Common Stock	06/17/2004		J⁽³⁾	V	78.49	A	$18.21	14,372.81	I	By Spouse/Sep. Prop.
Common Stock	09/16/2004		J⁽³⁾	V	68.84	A	$20.88	15,160.65	I	By Spouse/Sep. Prop.
Common Stock	06/18/2004		I⁽²⁾	V	875.12	A	$5.08	12,894.64	I	by ESOP

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Incentive Stock Option (right to buy)	$3.7	12/03/2004		M⁽¹⁾			100	⁽⁴⁾	06/22/2005	Common Stock	100	⁽¹⁾	18,620	D
Incentive Stock Option (right to buy)	$3.7	12/03/2004		M⁽¹⁾			200	⁽⁴⁾	06/22/2005	Common Stock	200	⁽¹⁾	18,420	D
Incentive Stock Option (right to buy)	$3.7	12/03/2004		M⁽¹⁾			1,200	⁽⁴⁾	06/22/2005	Common Stock	1,200	⁽¹⁾	17,220	D
Incentive Stock Option (right to buy)	$3.7	12/03/2004		M⁽¹⁾			400	⁽⁴⁾	06/22/2005	Common Stock	400	⁽¹⁾	16,820	D
Incentive Stock Option (right to buy)	$3.7	12/03/2004		M⁽¹⁾			100	⁽⁴⁾	06/22/2005	Common Stock	100	⁽¹⁾	16,720	D
Incentive Stock Option (right to buy)	$3.7	12/03/2004		M⁽¹⁾			500	⁽⁴⁾	06/22/2005	Common Stock	500	⁽¹⁾	16,220	D
Incentive Stock Option (right to buy)	$3.7	12/03/2004		M⁽¹⁾			500	⁽⁴⁾	06/22/2005	Common Stock	500	⁽¹⁾	15,720	D
Incentive Stock Option (right to buy)	$3.7	12/03/2004		M⁽¹⁾			500	⁽⁴⁾	06/22/2005	Common Stock	500	⁽¹⁾	15,220	D
Incentive Stock Option (right to buy)	$3.7	12/03/2004		M⁽¹⁾			700	⁽⁴⁾	06/22/2005	Common Stock	700	⁽¹⁾	14,520	D
Incentive Stock Option (right to buy)	$3.7	12/03/2004		M⁽¹⁾			300	⁽⁴⁾	06/22/2005	Common Stock	300	⁽¹⁾	14,220	D
Incentive Stock Option (right to buy)	$3.7	12/03/2004		M⁽¹⁾			500	⁽⁴⁾	06/22/2005	Common Stock	500	⁽¹⁾	13,720	D
Incentive Stock Option (right to buy)	$4.84							⁽⁵⁾	02/07/2006	Common Stock	31,032		31,032	D
Incentive Stock Option (right to buy)	$6							⁽⁶⁾	06/05/2007	Common Stock	17,733		17,733	D
Incentive Stock Option (right to buy)	$6.08							⁽⁷⁾	08/31/2010	Common Stock	37,372		37,372	D
Incentive Stock Option (right to buy)	$6.58							⁽⁸⁾	06/10/2009	Common Stock	19,771		19,771	D
Incentive Stock Option (right to buy)	$6.81							⁽⁹⁾	10/15/2008	Common Stock	3,755		3,755	D
Non-Qualified Stock Option (right to buy)	$6.08							⁽¹⁰⁾	08/31/2010	Common Stock	7,300		7,300	D
Non-Qualified Stock Option (right to buy)	$6.58							⁽¹¹⁾	06/10/2009	Common Stock	333		333	D

Explanation of Responses:

1. Mr. B. G. Hartley exercised his options to purchase 5000 shares on 12-03-04 under the Incentive Stock Options Plan. The exercise price was $3.70 per share.

2. ESOP allocation for plan year ending 12-31-03.

3. Shares acquired pursuant to Southisde Bancshares, Inc. Dividend Reinvestment Plan.

4. Options were fully vested on June 22, 2000.

5. Vested 20% per year and became fully exercisable 02/07/2001.

6. Vested 20% per year and became fully exercisable 06/05/2002.

7. Options vest 20% per year and currently 60% are fully exercisable.

8. Options vest 20% per year and currently 80% are fully exercisable.

9. Vested 20% per year and became fully exercisable 10/15/2003.

10. Non-qualified Incentive Stock Option became fully exercisable 08/31/2002.

11. Non-qualified Incentive Stock Option became fully exercisable 06/10/2000.

	B. G. Hartley	12/03/2004
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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