XML 24 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2010
Mar. 31, 2011
Restated
Interest income    
Loans $ 17,765 $ 17,271
Investment securities - taxable 26 18
Investment securities - tax-exempt 2,826 3,229
Mortgage-backed and related securities 14,277 11,297
FHLB stock and other investments 82 80
Other interest earning assets 11 10
Total interest income 34,987 31,905
Interest expense    
Deposits 5,005 4,036
Short-term obligations 1,680 1,729
Long-term obligations 5,226 3,881
Total interest expense 11,911 9,646
Net interest income 23,076 22,259
Provision for loan losses 3,867 2,138
Net interest income after provision for loan losses 19,209 20,121
Noninterest income    
Deposit services 4,064 3,879
Gain on sale of securities available for sale 8,355 1,551
Gain on sale of securities carried at fair value through income 0 254
Total other-than-temporary impairment losses (39) 0
Portion of loss recognized in other comprehensive income (before taxes) (36) 0
Net impairment losses recognized in earnings (75) 0
Fair value gain (loss) - securities 0 1,627
Gain on sale of loans 281 283
Trust income 530 651
Bank owned life insurance income 285 286
Other 933 1,105
Total noninterest income 14,373 9,636
Noninterest expense    
Salaries and employee benefits 10,942 11,691
Occupancy expense 1,643 1,721
Equipment expense 437 493
Advertising, travel & entertainment 537 553
ATM and debit card expense 167 215
Director fees 177 191
Supplies 270 224
Professional fees 406 555
Postage 186 179
Telephone and communications 373 337
FDIC Insurance 679 763
Other 1,635 1,810
Total noninterest expense 17,452 18,732
Income before income tax expense 16,130 11,025
Provision for income tax expense 3,955 1,786
Net income 12,175 9,239
Less: Net income attributable to the noncontrolling interest (530) (865)
Net income attributable to Southside Bancshares, Inc. $ 11,645 $ 8,374
Earnings per common share - basic (in dollars per share) $ 0.70 $ 0.51
Earnings per common share - diluted (in dollars per share) $ 0.70 $ 0.51
Dividends paid per common share (in dollars per share) $ 0.17 $ 0.17