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CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Interest income      
Loans $ 72,910 $ 69,462 $ 66,736
Investment securities – taxable 799 519 64
Investment securities – tax-exempt 25,483 13,644 12,520
Mortgage-backed securities 20,085 32,118 51,467
FHLB stock and other investments 182 240 233
Other interest earning assets 143 37 18
Total interest income 119,602 116,020 131,038
Interest expense      
Deposits 8,179 10,841 15,647
Short-term obligations 1,875 6,340 6,577
Long-term obligations 7,914 9,714 13,407
Total interest expense 17,968 26,895 35,631
Net interest income 101,634 89,125 95,407
Provision for loan losses 8,879 10,736 7,496
Net interest income after provision for loan losses 92,755 78,389 87,911
Noninterest income      
Deposit services 15,560 15,433 15,943
Gain on sale of securities available for sale 8,472 17,966 11,795
(Loss) gain on sale of securities carried at fair value through income 0 (498) 937
Total other-than-temporary impairment losses (52) (21) 0
Portion of loss recognized in other comprehensive income (loss) (before taxes) 10 (160) 0
Net impairment losses recognized in earnings (42) (181) 0
Fair value gains – securities 0 0 6,693
FHLB advance option impairment charges 0 (2,031) (8,923)
Gain on sale of loans 770 1,119 1,230
Trust income 3,024 2,794 2,610
Bank owned life insurance income 3,122 1,110 1,087
Other 4,339 4,309 3,950
Total noninterest income 35,245 40,021 35,322
Noninterest expense      
Salaries and employee benefits 52,054 48,084 45,421
Occupancy expense 7,539 7,498 7,205
Advertising, travel & entertainment 2,642 2,463 2,414
ATM and debit card expense 1,328 1,063 987
Director fees 1,212 1,213 914
Professional fees 2,782 2,928 2,718
Telephone and communications 1,529 1,665 1,325
FDIC insurance 1,713 1,744 1,817
FHLB prepayment fees 1,048 0 0
Other 9,866 9,449 9,547
Total noninterest expense 81,713 76,107 72,348
Income before income tax expense 46,287 42,303 50,885
Provision for income tax expense 5,097 7,608 10,394
Net income 41,190 34,695 40,491
Less: Net income attributable to the noncontrolling interest 0 0 (1,358)
Net income attributable to Southside Bancshares, Inc. $ 41,190 $ 34,695 $ 39,133
Earnings per common share - basic (in dollars per share) $ 2.30 $ 1.91 $ 2.16
Earnings per common share - diluted (in dollars per share) $ 2.30 $ 1.91 $ 2.16
Dividends paid on common stock (in dollars per share) $ 0.91 $ 1.11 $ 0.90