Earnings Per Share

9 Months Ended

Sep. 30, 2011

Earnings Per Share [Abstract]

Earnings Per Share

3.  Earnings Per Share - (2011 Restated)

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

	Three Months				Nine Months
	Ended September 30,				Ended September 30,
	2011		2010		2011		2010
Basic and Diluted Earnings:
Net income - Southside Bancshares, Inc.	$	8,563	$	11,048	$	29,570	$	31,945
Basic weighted-average shares outstanding		16,454		16,543		16,439		16,563
Add:   Stock options		7		10		7		35
Diluted weighted-average shares outstanding		16,461		16,553		16,446		16,598
Basic Earnings Per Share:
Net Income - Southside Bancshares, Inc.	$	0.52	$	0.67	$	1.80	$	1.93
Diluted Earnings Per Share:
Net Income - Southside Bancshares, Inc.	$	0.52	$	0.67	$	1.80	$	1.93

On March 31, 2011, our board of directors declared a 5% stock dividend to common stock shareholders of record as of April 20, 2011, and payable on May 11, 2011.

During the second quarter, 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 three and nine month periods ended September 30, 2011, there were approximately 28,000 and 9,000 antidilutive options, respectively.  For the three and nine months ended September 30, 2010, there were no antidilutive options.