Southside Bancshares Inc 2024年度报告

Form10-K(Mark One) ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From _______ to _______ Commission file number000-12247SOUTHSIDE BANCSHARES, INC.(Exact name of registrant as specified in its charter) Registrant’s telephone number, including area code: (903)531-7111 Securities registered pursuant to Section 12(b) of the Act: Name of each exchange on which registered Securities registered pursuant to Section 12(g) of the Act:NONEIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.Yes☒No☐ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.Yes☐No☒ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filingrequirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 ofRegulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit suchfiles).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, oremerging growth company.See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growthcompany” in Rule 12b-2 of the Exchange Act: Large Accelerated Filer☒Accelerated filer☐Non-accelerated filer☐Smaller reporting company☐Emerging growth company☐If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal controlover financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issuedits audit report.☒ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in thefiling reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes☐No☒ The aggregate market value of the common stock held by non-affiliates of the registrant as of June 30, 2024, was approximately $785.9million (based uponthe closing price of $27.61 per share as reported by the NASDAQ Global Select Market on June30,2024, the last business day of the registrant’s mostrecently completed second fiscal quarter). As of February24, 2025, there were30,389,659shares of the registrant’s common stock outstanding. Table of Contents DOCUMENTS INCORPORATED BY REFERENCE Certain portions of the Registrant’s Proxy statement to be filed for the Annual Meeting of Shareholders to be held on May14, 2025 are incorporated byreference into Part III of this Annual Report on Form 10-K.Other than those portions of the proxy statement specifically incorporated by reference pursuantto Items 10-14 of Part III hereof, no other portions of the proxy statement shall be deemed so incorporated. SOUTHSIDE BANCSHARES, INC.Form 10-KFor the Fiscal Year Ended December 31, 2024TABLE OF CONTENTS Glossary of Acronyms, Abbreviations and Terms PART I Item 1.Item 1A.Item 1B.Item 1C.Item 2.Item 3.Item 4. BusinessRisk FactorsUnresolved Staff CommentsCybersecurityPropertiesLegal ProceedingsMine Safety Disclosures PART II Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of EquitySecurities[Reserved]Management’s Discussion and Analysis of Financial Condition and Results of OperationsQuantitative and Qualitative Disclosures About Market RiskFinancial Statements and Supplementary DataReport of Independent Registered Public Accounting FirmConsolidated Financial StatementsNotes to Consolidated Financial StatementsChanges in and Disagreements with Accountants on Accounting and Financial DisclosureControls and ProceduresOther InformationPART III Item 5.Item 6.Item 7.Item 7A.Item 8. Item 9.Item 9A.Item 9B. Item 10.Item 11.Item 12.Item 13.Item 14. Item 15.Item 16. SOUTHSIDE BANCSHARES, INC.Glossary of Acronyms, Abbreviations and Terms The acronyms, abbreviations and terms listed below are used in various sectio