Subsequent Events

6 Months Ended

Jun. 30, 2011

Subsequent Events [Abstract]

Subsequent Events

12.         Subsequent Events

On July 15, 2011, we purchased the remaining 50% interest in SFG increasing our ownership to 100%.  The purchase price was $4.8 million.  The purchase of the remaining 50% interest in SFG was a direct result of new regulations adopted as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd Frank").  Dodd Frank changed the manner in which we can do business through a nonbank entity.  Given the importance of our SFG operations, we determined that purchasing the remaining 50% interest in this company and integrating its operations into Southside Bank would be in the bank's best interest.  In addition, SFG is already fully consolidated on our balance sheet and this purchase will not limit or change our ability to allocate capital in order to grow our franchise.