EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2011

EARNINGS PER SHARE [Abstract]

EARNINGS PER SHARE

3.  EARNINGS PER SHARE

Earnings per share attributable to Southside Bancshares, Inc. on a basic and diluted basis has been adjusted to give retroactive recognition to stock splits and stock dividends and is calculated as follows (in thousands, except per share amounts):

	Years Ended December 31,
	2011		2010		2009
Basic and Diluted Earnings:
Net Income – Southside Bancshares, Inc.	$	39,133	$	39,103	$	44,396
Basic weighted-average shares outstanding:		16,448		16,522		16,398
Add: Stock options		8		28		148
Diluted weighted-average shares outstanding		16,456		16,550		16,546
Basic Earnings Per Share:
Net Income – Southside Bancshares, Inc.	$	2.38	$	2.37	$	2.71
Diluted Earnings Per Share:
Net Income – Southside Bancshares, Inc.	$	2.38	$	2.37	$	2.68

During the second quarter of 2011, our board of directors approved equity grants in the form of stock options and restricted stock units.  These equity grants were made pursuant to the shareholder-approved Southside Bancshares, Inc. 2009 Incentive Plan.

For the year ended December 31, 2011, there were approximately 12,000 antidilutive options.  For the years ended December 31, 2010 and 2009, there were no antidilutive options.