Southside Bancshares Inc 2025年季度报告

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period endedJune 30, 2025 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Incorporation or Organization)1201 S. Beckham Avenue,Tyler,Texas(Address of Principal Executive Offices) ITEM 1.FINANCIAL STATEMENTS (UNAUDITED)CONSOLIDATED BALANCE SHEETSCONSOLIDATED STATEMENTS OF INCOME CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY ITEM 2.MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OFOPERATIONS Glossary of Acronyms, Abbreviations and TermsThe acronyms, abbreviations and terms listed below are used in various sections of this Form 10-Q, including "Item 1. Financial Statements" The accompanying notes are an integral part of these consolidated financial statements. information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, not all information required by GAAP forcomplete financial statements is included in these interim statements. In the opinion of management, all adjustments necessary for a fair presentation of such financial statements have been included.Such adjustments consisted only of normal recurring items.The preparation ofthese consolidated financial statements in accordance with GAAP requires the use of management’s estimates.These estimates are Accounting Changes and Reclassifications Certain prior period amounts may be reclassified to conform to current year presentation. 2.Earnings Per ShareEarnings per share on a basic and diluted basis are calculated as follows (in thousands, except per share amounts): Three Months EndedJune 30,Six Months EndedJune 30,202520242025Basic and Diluted Earnings:Net income$21,813$24,673$43,320$ 7432Diluted weighted-average shares outstanding30,30830,312 Basic earnings per share:Net incomeDiluted earnings per share:Net income For the three and six months ended June 30, 2025, there were approximately524,000and520,000 anti-dilutive shares outstanding,respectively. For the three and six months ended June 30, 2024, there were649,000 and 636,000 anti-dilutive shares outstanding, respectively. December31, 2024. Any net unrealized gain or loss on the transferred securities included in AOCI at the time of transfer will be amortizedover the remaining life of the underlying security as an adjustment to the yield on those securities. Securities transferred with losses included Investment securities and MBS with carrying values of $2.16billion and $2.18billion were pledged as of June30, 2025 and December31,2024, respectively, to collateralize borrowings from the FRDW, repurchase agreements and public fund deposits, for potential liquidity needsor other purposes as required by law. At June30, 2025 and December31, 2024, the amount of excess collateral at the FRDW was $383.6million and $431.7million, respectively. Corporate bonds and other2,967335,6123688,579Residential723,8556,51731,5273,571755,382Commercial2,223122,4895144,712$741,134$6,626$437,932$48,106$1,179,066$ Residential $78,032$2,220$916,604$167,561$994,636$ not be required to sell the security before the recovery of its amortized cost basis, we recognize the loss in earnings. For those AFS debtsecurities in an unrealized loss position that do not meet either of these criteria, management assesses whether the decline in fair value hasresulted from credit-related factors, using both qualitative and quantitative criteria. Determining the allowance under the credit loss methodrequires the use of a discounted cash flow method to assess the credit losses. Any credit-related impairment will be recognized in allowancefor credit losses on the balance sheet with a As of June30, 2025 and December31, 2024, we didnot have an allowance for credit losses on our AFS securities, based on ourconsideration of the qualitative factors associated with each security type in our AFS portfolio. The unrealized losses on our investment andMBS are due to changes in interest rates and spreads and other market conditions. We had335and421AFS debt securities in an unrealizedloss position at June30, 2025 and December31, 2024, respectively. Our state and political subdivisions are highly rated municipal securitieswith a long history of no credit losses. Our AFS MBS are highly rated securities, which are either explicitly or implicitly backed by the U.S.Government through its agencies and which are highly rated by major ratings agencies and also have a long history of no credit losses. Ourcorporate bonds and other investment securities consist of primarily investment grade bonds.We assess the likelihood of default and the potential amount of default when assessing our HTM securities for credit losses. We utilize termstructures and, due to no prior loss exposure on our state and political subdivision securities or our corporate securities, we currently apply a