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    Southside Bancshares (SBSI)

    Market Price (11/6/2026): $34.4 | Market Cap: $1.0 BilSector: Financials | Industry: Regional Banks

    Southside Bancshares (SBSI)

    Market Price (11/6/2026): $34.4
    Market Cap: $1.0 Bil
    Sector: Financials
    Industry: Regional Banks

    Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

    0

    Attractive yield
    Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 14%, Dividend Yield is 4.2%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 8.4%, FCF Yield is 15%

    Attractive cash flow generation
    CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 62%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 56%

    Low stock price volatility
    Vol 12M is 23%

    Megatrend and thematic drivers
    Megatrends include Community Financial Access. Themes include Local Retail Banking, Small Business Lending, and Mortgage & Real Estate Financing.

    Trading close to highs
    Dist 52W High is -3.2%, Dist 3Y High is -3.2%

    Weak multi-year price returns
    2Y Excs Rtn is -18%, 3Y Excs Rtn is -35%

    Key risks
    SBSI key risks include [1] sharply deteriorating asset quality, Show more.

    0 Attractive yield
    Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 14%, Dividend Yield is 4.2%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 8.4%, FCF Yield is 15%
    1 Attractive cash flow generation
    CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 62%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 56%
    2 Low stock price volatility
    Vol 12M is 23%
    3 Megatrend and thematic drivers
    Megatrends include Community Financial Access. Themes include Local Retail Banking, Small Business Lending, and Mortgage & Real Estate Financing.
    4 Trading close to highs
    Dist 52W High is -3.2%, Dist 3Y High is -3.2%
    5 Weak multi-year price returns
    2Y Excs Rtn is -18%, 3Y Excs Rtn is -35%
    6 Key risks
    SBSI key risks include [1] sharply deteriorating asset quality, Show more.

    SBSI in ETFs

    Weight = SBSI's share of each fund

    VTI0.00%
    ITOT0.00%
    IWM0.03%
    IJR0.05%
    KRE0.16%
    IJS0.10%
    SLYV0.10%
    VIOV0.09%
    +10 more covered ETFs

    Valuation & Metrics

    FYE: 12/31SBSI [1]S&P 500 [2]
    REVENUE GROWTH
    LTM Revenue [3]$277.7 Mil—
    FY 2026 Sales$296.9 Mil—
    FY 2027 Sales$307.5 Mil—
    FY 2026 Sales Growth6.9%—
    FY 2027 Sales Growth3.5%8.7%
    EARNINGS
    LTM Net Income (GAAP) [3]$99.1 Mil—
    FY 2026 Net Income (Non-GAAP)$105.0 Mil—
    FY 2027 Net Income (Non-GAAP)$104.7 Mil—
    FY 2027 Net Income Growth-0.3%13.5%
    FY 2026 EPS (Non-GAAP)$3.47—
    FY 2027 EPS (Non-GAAP)$3.46—
    FY 2027 EPS Growth-0.3%—
    VALUATION
    FY 2026 P/S3.53.1
    FY 2027 P/S3.3—
    FY 2026 P/E9.818.1
    FY 2027 P/E9.8—

    [1] SBSI forward figures are analyst consensus for the next two fiscal years (fiscal year end 12/31). Net Income and EPS are non-GAAP (adjusted) consensus. P/S and P/E divide the current market cap by the consensus figure.
    [2] S&P 500 figures are the SPY ETF's holdings-weighted forward aggregate. P/S and P/E reflect FY1/FY2 consensus blended to the 12-month window ending 11/30/27 (~one year forward), shown when ≥90% of index weight has estimates. Growth is the aggregate next-fiscal-year vs current-fiscal-year (FY1→FY2) change. Index-level dollar Sales, Net Income and EPS are not applicable.
    [3] LTM = reported trailing-twelve-month actuals (GAAP).
    SBSIS&P 500
    REVENUE GROWTHGOOD
    Rev LTM ($ Bil)0.3
    Rev Chg Q69.3%8.9%
    Rev Chg LTM16.0%8.6%
    Rev Chg 3Y Avg2.5%6.3%
    PROFITABILITYVERY GOOD
    Op Inc LTM ($ Bil)�
    CFO LTM ($ Bil)0.2
    Net Inc LTM ($ Bil)0.1
    CFO/Rev LTM62.0%21.5%
    Net Inc Mgn35.7%13.5%
    VALUATIONLOW
    P/S3.73.3
    P/CFO6.015.7
    P/FCF6.620.6
    P/E10.422.9

    AI Analysis | Feedback

    MetricValueDateSource
    Tax-Equivalent Net Interest Margin2.92%9302025Link
    Efficiency Ratio (Tax-Equivalent)53.89%9302025Link
    Nonperforming Assets to Total Assets Ratio0.42%9302025Link
    Number of Branches5311062025Link
    Number of ATMs/ITMs7011062025Link
    Total Deposit Accounts1788403312025Link
    Number of Employees77812312024Link
    Assets Under Management in Wealth Management & TrustOver $3.0 billion8042025Link
    Loan Portfolio Composition - Real Estate Loans81.8%12312024Link
    Loan Portfolio Composition - Commercial Loans11.2%12312024Link
    Loan Portfolio Composition - Municipal Loans5.5%12312024Link
    Loan Portfolio Composition - Loans to Individuals1.5%12312024Link

    Price Chart

    Upcoming
    2/04/2027Earnings ReleaseRev: $75 Mil (E)
    EPS: $0.87 (E)

    Why The Stock Moved

    Qualitative Assessment

    AI Analysis | Feedback

    Updated on 11/2/2026

    Southside Bancshares (SBSI) stock has gained about 5% since 7/31/2026 because of the following key factors:

    1. Southside Bancshares reported a strong earnings beat for fiscal Q3 2026, significantly increasing net income and diluted earnings per share. Net income rose to $28 million, a 469.4% increase from $4.9 million in fiscal Q3 2025, and diluted earnings per share (EPS) reached $0.93, a 481.3% increase from $0.16 in the prior year's quarter. This performance notably exceeded the consensus EPS estimate of $0.79. The substantial year-over-year growth in net income was primarily attributed to the absence of a $24.4 million securities-sale loss recorded in fiscal Q3 2025.

    2. The company experienced an improved Net Interest Margin (NIM), benefiting from a favorable interest rate environment for regional banks. Southside Bancshares' tax-equivalent net interest margin increased by 12 basis points on a linked-quarter basis to 3.02% in fiscal Q3 2026. This expansion in NIM, along with an 8.2% increase in net interest income to $60.3 million compared to fiscal Q3 2025, was a significant tailwind for regional bank portfolios as higher interest rates allowed for increased lending rates while funding costs remained relatively stable.

    Show more
    Updated on 11/2/2026

    Southside Bancshares (SBSI) stock has gained about 5% since 7/31/2026 because of the following key factors:

    1. Southside Bancshares reported a strong earnings beat for fiscal Q3 2026, significantly increasing net income and diluted earnings per share. Net income rose to $28 million, a 469.4% increase from $4.9 million in fiscal Q3 2025, and diluted earnings per share (EPS) reached $0.93, a 481.3% increase from $0.16 in the prior year's quarter. This performance notably exceeded the consensus EPS estimate of $0.79. The substantial year-over-year growth in net income was primarily attributed to the absence of a $24.4 million securities-sale loss recorded in fiscal Q3 2025.

    2. The company experienced an improved Net Interest Margin (NIM), benefiting from a favorable interest rate environment for regional banks. Southside Bancshares' tax-equivalent net interest margin increased by 12 basis points on a linked-quarter basis to 3.02% in fiscal Q3 2026. This expansion in NIM, along with an 8.2% increase in net interest income to $60.3 million compared to fiscal Q3 2025, was a significant tailwind for regional bank portfolios as higher interest rates allowed for increased lending rates while funding costs remained relatively stable.

    3. Southside Bancshares increased its quarterly cash dividend, signaling management's confidence in the bank's financial strength and commitment to shareholder value. On August 6, 2026, the company's Board of Directors approved a 2.8% increase in its regular quarterly cash dividend, raising it to $0.37 per common share. This dividend was subsequently paid on September 3, 2026.

    4. Positive analyst sentiment and upward earnings estimate revisions contributed to investor confidence. On November 2, 2026, Zacks upgraded Southside Bancshares to a Zacks Rank #1 (Strong Buy), reflecting a 6.4% increase in the Zacks Consensus Estimate for the fiscal year ending December 2026 over the preceding three months. Additionally, Wall Street Zen upgraded its rating for SBSI from "hold" to "buy," and Stephens raised its price target to $36 from $35.

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    Stock Movement Drivers

    Fundamental Drivers

    The 6.9% change in SBSI stock from 7/31/2026 to 11/5/2026 was primarily driven by a 16.1% change in the company's Net Income Margin (%).
    (LTM values as of)731202611052026Change
    Stock Price ($)32.1434.366.9%
    Change Contribution By: 
    Total Revenues ($ Mil)24727812.2%
    Net Income Margin (%)30.7%35.7%16.1%
    P/E Multiple12.610.3-17.9%
    Shares Outstanding (Mil)3030-0.1%
    Cumulative Contribution6.9%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    7/31/2026 to 11/5/2026
    ReturnCorrelation
    SBSI6.9% 
    Market (SPY)-1.9%18.0%
    Sector (XLF)1.0%62.9%

    Fundamental Drivers

    The 6.4% change in SBSI stock from 4/30/2026 to 11/5/2026 was primarily driven by a 21.8% change in the company's Net Income Margin (%).
    (LTM values as of)430202611052026Change
    Stock Price ($)32.2834.366.4%
    Change Contribution By: 
    Total Revenues ($ Mil)24227814.6%
    Net Income Margin (%)29.3%35.7%21.8%
    P/E Multiple13.510.3-23.6%
    Shares Outstanding (Mil)3030-0.3%
    Cumulative Contribution6.4%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    4/30/2026 to 11/5/2026
    ReturnCorrelation
    SBSI6.4% 
    Market (SPY)2.3%15.4%
    Sector (XLF)10.7%48.9%

    Fundamental Drivers

    The 28.0% change in SBSI stock from 10/31/2025 to 11/5/2026 was primarily driven by a 22.0% change in the company's Net Income Margin (%).
    (LTM values as of)1031202511052026Change
    Stock Price ($)26.8434.3628.0%
    Change Contribution By: 
    Total Revenues ($ Mil)23927816.0%
    Net Income Margin (%)29.2%35.7%22.0%
    P/E Multiple11.510.3-10.3%
    Shares Outstanding (Mil)30300.9%
    Cumulative Contribution28.0%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    10/31/2025 to 11/5/2026
    ReturnCorrelation
    SBSI28.0% 
    Market (SPY)8.4%25.3%
    Sector (XLF)11.1%51.5%

    Fundamental Drivers

    The 48.4% change in SBSI stock from 10/31/2023 to 11/5/2026 was primarily driven by a 42.1% change in the company's P/E Multiple.
    (LTM values as of)1031202311052026Change
    Stock Price ($)23.1634.3648.4%
    Change Contribution By: 
    Total Revenues ($ Mil)2612786.2%
    Net Income Margin (%)37.1%35.7%-3.9%
    P/E Multiple7.310.342.1%
    Shares Outstanding (Mil)31302.3%
    Cumulative Contribution48.4%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    10/31/2023 to 11/5/2026
    ReturnCorrelation
    SBSI48.4% 
    Market (SPY)81.3%37.0%
    Sector (XLF)85.5%57.7%

    Return vs. Risk

    Price Returns Compared

     202120222023202420252026Total [1]
    Returns
    SBSI Return40%-11%-9%6%0%17%42%
    Peers Return26%-6%-1%14%3%12%54%
    S&P 500 Return27%-19%24%23%16%12%105%

    Monthly Win Rates [3]
    SBSI Win Rate75%42%42%42%50%55% 
    Peers Win Rate62%45%48%53%53%51% 
    S&P 500 Win Rate75%42%67%75%67%45% 

    Max Drawdowns [4]
    SBSI Max Drawdown-19%-26%-35%-21%-18%-15% 
    Peers Max Drawdown-22%-28%-34%-17%-22%-15% 
    S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 

    [1] Cumulative total returns since the beginning of 2021
    [2] Peers: CFR, PB, FFIN, TCBI, HTH.
    [3] Win Rate = % of calendar months in which monthly returns were positive
    [4] Max drawdown represents maximum peak-to-trough decline within a year
    [5] 2026 data is for the year up to 11/5/2026 (YTD)

    How Low Can It Go

    EventSBSIS&P 500
    2025 US Tariff Shock
      % Loss-14.5%-18.8%
      % Gain to Breakeven16.9%23.1%
      Time to Breakeven83 days79 days
    Summer-Fall 2023 Five Percent Yield Shock
      % Loss-10.0%-9.5%
      % Gain to Breakeven11.1%10.5%
      Time to Breakeven34 days24 days
    2023 SVB Regional Banking Crisis
      % Loss-33.2%-6.7%
      % Gain to Breakeven49.8%7.1%
      Time to Breakeven489 days31 days
    2022 Inflation Shock & Fed Tightening
      % Loss-22.0%-24.5%
      % Gain to Breakeven28.2%32.4%
      Time to Breakeven1337 days427 days
    2020 COVID-19 Crash
      % Loss-30.1%-33.7%
      % Gain to Breakeven43.0%50.9%
      Time to Breakeven341 days140 days
    Q4 2018 Fed Policy Error / Growth Scare
      % Loss-12.8%-19.2%
      % Gain to Breakeven14.7%23.8%
      Time to Breakeven37 days105 days

    Compare to CFR, PB, FFIN, TCBI, HTH

    In The Past

    Southside Bancshares's stock fell -14.5% during the 2025 US Tariff Shock. Such a loss loss requires a 16.9% gain to breakeven.

    Preserve Wealth

    Limiting losses and compounding gains is essential to preserving wealth.

    Asset Allocation

    Actively managed asset allocation strategies protect wealth. Learn more.

    EventSBSIS&P 500
    2023 SVB Regional Banking Crisis
      % Loss-33.2%-6.7%
      % Gain to Breakeven49.8%7.1%
      Time to Breakeven489 days31 days
    2022 Inflation Shock & Fed Tightening
      % Loss-22.0%-24.5%
      % Gain to Breakeven28.2%32.4%
      Time to Breakeven1337 days427 days
    2020 COVID-19 Crash
      % Loss-30.1%-33.7%
      % Gain to Breakeven43.0%50.9%
      Time to Breakeven341 days140 days
    2015-2016 China Devaluation / Global Growth Scare
      % Loss-28.5%-12.2%
      % Gain to Breakeven39.8%13.9%
      Time to Breakeven86 days62 days
    2014-2016 Oil Price Collapse
      % Loss-37.3%-6.8%
      % Gain to Breakeven59.5%7.3%
      Time to Breakeven121 days15 days
    2008-2009 Global Financial Crisis
      % Loss-33.9%-53.4%
      % Gain to Breakeven51.2%114.4%
      Time to Breakeven31 days1085 days

    Compare to CFR, PB, FFIN, TCBI, HTH

    In The Past

    Southside Bancshares's stock fell -14.5% during the 2025 US Tariff Shock. Such a loss loss requires a 16.9% gain to breakeven.

    Preserve Wealth

    Limiting losses and compounding gains is essential to preserving wealth.

    Asset Allocation

    Actively managed asset allocation strategies protect wealth. Learn more.

    About Southside Bancshares (SBSI)

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    Southside Bancshares, Inc. (SBSI) is a bank holding company that operates Southside Bank, providing a comprehensive range of financial services primarily within its home state of Texas. Established in 1960 and headquartered in Tyler, Texas, it functions as a traditional community bank offering essential financial solutions.

    The company's core offerings include a variety of deposit products such as savings, money market, interest and noninterest-bearing checking accounts, and certificates of deposit. Its loan portfolio is diverse, encompassing consumer loans (e.g., residential, home equity, auto), commercial loans (e.g., working capital, equipment, real estate), and construction loans for both residential and commercial projects. Beyond traditional banking, SBSI also provides wealth management and trust services, including investment management and administration, along with brokerage and safe deposit services.

    Southside Bancshares caters to a broad customer base, including individuals, businesses, municipal entities, and nonprofit organizations. As of December 31, 2021, the company operated through 56 banking facilities and 73 ATMs/ITMs, demonstrating its commitment to serving its local and regional markets effectively.

    ```

    AI Analysis | Feedback

    Here are 1-3 brief analogies for Southside Bancshares (SBSI):

    • It's like a regional Bank of America, providing comprehensive financial services primarily to communities in Texas.
    • Imagine a local Chase Bank, but serving dozens of communities across East and North Texas.

    AI Analysis | Feedback

    • Deposit Accounts: Provides various savings, money market, checking, and certificate of deposit accounts for individuals and businesses.
    • Consumer Loans: Offers a range of loans including residential mortgages, home equity, home improvement, and automobile loans for individual customers.
    • Commercial Loans: Supplies financing solutions such as working capital, equipment, commercial real estate, and municipal loans for businesses and entities.
    • Construction Loans: Provides financing for both residential (1-4 family) and commercial real estate construction projects.
    • Wealth Management and Trust Services: Delivers investment management, trust administration, and custodian services for individuals, partnerships, and corporations.
    • Safe Deposit Services: Offers secure storage solutions for valuable items.
    • Brokerage Services: Provides services for buying and selling securities.

    AI Analysis | Feedback

    Southside Bancshares (SBSI) primarily serves a diverse customer base rather than a few major corporate customers. Its services are offered to multiple categories of clients.

    Major Customers of Southside Bancshares (SBSI)

    Southside Bancshares serves the following categories of customers:

    1. Individuals: This includes consumers seeking deposit products (savings, money market, checking, certificates of deposit) and various consumer loans such as 1-4 family residential loans, home equity loans, home improvement loans, and automobile loans. They also offer wealth management, trust, and brokerage services to individuals.
    2. Businesses: The bank provides services to commercial entities, including short-term working capital loans for inventory and accounts receivable, short and medium-term loans for equipment or other business capital expansion, and commercial real estate loans. They also offer deposit products to businesses.
    3. Municipal Entities and Nonprofit Organizations: Southside Bancshares offers financial services, including loans (e.g., municipal loans) and deposit products, tailored to the needs of governmental bodies and nonprofit organizations.

    AI Analysis | Feedback

    null

    AI Analysis | Feedback

    Keith Donahoe, Chief Executive Officer and President

    Keith Donahoe assumed the role of Chief Executive Officer in January 2026 and has served as President since May 2024. He joined Southside Bank in 2021, initially as Austin Market President and then as Central Texas Regional President. Prior to joining Southside, he served as an Executive Vice President of Frost Bank, a regional bank in Texas, for 10 years and has over 30 years of commercial banking experience.

    Julie N. Shamburger, Chief Financial Officer

    Julie Shamburger has served as Chief Financial Officer of Southside Bancshares and Southside Bank since 2016 and is an advisory director of Southside Bank. She was Executive Vice President and Chief Accounting Officer from 2011 until April 2016. Ms. Shamburger joined Southside Bank in 1982 and possesses over 39 years of accounting experience. She is a graduate of the University of Texas at Tyler.

    Mitchell Craddock, Chief Operations Officer

    Mitchell Craddock has served as Chief Operations Officer since November 2025. He joined Southside Bank in August 2024 as Executive Vice President and Associate Chief Operations Officer. Before rejoining Southside, Mr. Craddock worked at Q2, a digital banking solutions company, from 2011 to 2024, where his most recent position was Vice President of Premier Services. He also held various information technology and bank operations roles with Southside Bank from 2002 to 2011.

    Curtis Burchard, Chief Lending Officer

    Curtis Burchard has served as Chief Lending Officer of Southside Bancshares and Southside Bank since June 2024, and is also an advisory director of Southside Bank. He joined the Company in 2023 as Senior Executive Vice President. Prior to Southside, he was with Texas Capital Bank from 2018 to 2023, where his roles included Head of Commercial Real Estate and Head of Real Estate (Commercial Real Estate and Homebuilding). Mr. Burchard has over 40 years of commercial banking experience.

    AI Analysis | Feedback

    Southside Bancshares (SBSI) faces several key risks inherent to the banking sector, particularly for regional institutions. The three most significant risks include interest rate fluctuations, credit quality concerns especially related to commercial real estate (CRE) loans, and potential regulatory changes.

    Key Risks to Southside Bancshares (SBSI)

    1. Interest Rate Risk: As a financial institution, Southside Bancshares is highly susceptible to interest rate fluctuations. Changes in interest rates can significantly impact the bank's net interest income, affecting both the cost of deposits and the yield on its loan portfolio. Higher interest rates can erode profitability by increasing the need to offer competitive rates on deposits to retain customers. Furthermore, interest rate changes can influence the value of the bank's bond portfolio and the ability of borrowers to refinance commercial real estate loans.
    2. Credit Quality and Commercial Real Estate (CRE) Exposure: Southside Bancshares holds a substantial amount of commercial real estate loans, totaling approximately $2.71 billion as of the fourth quarter of 2025. The regional banking sector, including Southside, faces a heightened risk from CRE, with a significant portion of these loans maturing in the near future amid potentially lower property values and weak demand for office spaces. The company has also reported an increase in non-performing loans. Deterioration in credit quality, particularly within the CRE segment, could lead to increased loan defaults and higher provisions for credit losses.
    3. Regulatory Changes: Regional banks are continuously exposed to the risk of evolving regulatory landscapes and potential new capital requirements. Increased regulatory scrutiny and mandates could necessitate adjustments to the bank's operations, asset portfolios, and risk management practices, potentially impacting its financial performance and strategic flexibility.

    AI Analysis | Feedback

    • Rise of digital-only banks (neobanks and challenger banks) that offer lower fees, higher interest rates, and seamless digital user experiences, attracting customers away from traditional brick-and-mortar institutions.
    • Emergence of specialized online lenders providing faster, often more competitive consumer, commercial, and mortgage loan products, directly challenging Southside Bancshares' loan origination.
    • Growth of robo-advisors and digital wealth management platforms that offer low-cost, automated investment management services, posing a threat to the company's traditional wealth management and trust services.
    • Increasing entry of large technology companies into financial services (e.g., Apple's high-yield savings account, Google Pay, payment processing by Amazon) which leverage vast customer bases and technological capabilities to offer banking-like services.

    AI Analysis | Feedback

    Addressable Markets for Southside Bancshares' Main Products and Services (Region: Texas):

    • Deposit Products: The total assets held by Texas state-chartered banks, which include deposit products, amounted to $452.3 billion as of December 31, 2024.
    • Real Estate Loans (including 1-4 family residential, home equity, home improvement, commercial real estate, and construction loans): The market size for the Real Estate Loans & Collateralized Debt industry in Texas is projected to be $76.1 billion in 2026. Additionally, the annual transaction volume for commercial real estate in Texas was approximately $120 billion.
    • Other Consumer Loans (such as automobile loans and other consumer-related loans): Texans carried an estimated $28–$30 billion in unsecured personal loan debt by early 2025.
    • Commercial Loans (short-term working capital, equipment, municipal loans, excluding real estate): Null
    • Wealth Management and Trust Services: Null
    • Brokerage Services: Null

    AI Analysis | Feedback

    Here are the expected drivers of future revenue growth for Southside Bancshares (SBSI) over the next 2-3 years:
    1. Strategic Loan Growth and Portfolio Diversification: Southside Bancshares anticipates revenue growth driven by expanding its loan portfolio, particularly in commercial and industrial (C&I) lending and commercial real estate. The company is establishing new Loan Production Offices (LPOs) in high-growth areas of Texas, such as Dallas' Preston Center and The Woodlands, to facilitate this expansion. The C&I loan initiative now constitutes a significant portion of the total loan pipeline, indicating a focused effort on this segment.
    2. Net Interest Margin (NIM) Expansion and Optimization: The company expects to enhance its net interest income through strategic balance sheet management. This includes restructuring its available-for-sale securities portfolio to improve future yields and redeeming higher-cost subordinated debt, which is projected to lead to further expansion of the net interest margin.
    3. Geographic Expansion and Market Penetration: Southside Bancshares is actively pursuing expansion initiatives to deepen its presence in high-growth Texas markets. This involves the completion of new branches in locations like Cleveland, Texas, and the construction of new facilities in areas such as Celina, Texas. This strategic geographic expansion aims to capture market share in underserved or growing regions.
    4. Deposit Gathering and Funding Optimization: Growth in core deposits, excluding public funds and brokered deposits, is a key driver for providing stable and lower-cost funding for loan growth. The company focuses on increasing commercial and retail deposits to support its lending activities and maintain a healthy funding structure, which in turn contributes to revenue growth.

    AI Analysis | Feedback

    Share Repurchases

    • In 2021, Southside Bancshares repurchased 938,484 shares at an average cost of $36.39 per share under a previous plan.
    • As of March 4, 2022, a new share repurchase plan was authorized for up to 1 million shares with no expiration date.
    • The company's stock repurchase plan authorization was increased by 1.0 million shares on October 16, 2025, bringing the total authorized to 2.0 million shares. As of that date, approximately 868,000 shares had been repurchased at an average price of $28.43 per share under the ongoing plan. Approximately 762,000 shares remained authorized for repurchase as of the Q4 2025 earnings call.

    Share Issuance

    • There were no significant share issuances over the last 3-5 years; the trend in shares outstanding generally indicates a net reduction, consistent with repurchase activities.

    Inbound Investments

    • No significant inbound investments by third-parties in the company were identified over the last 3-5 years.

    Outbound Investments

    • No significant strategic outbound investments (acquisitions of other companies) were identified over the last 3-5 years.

    Capital Expenditures

    • Southside Bancshares invested $7.1 million in capital expenditures in Q4 2025, which primarily funded long-term assets and infrastructure.
    • For the last 12 months ending approximately Q4 2025, capital expenditures amounted to $20.34 million.
    • In 2026, noninterest expense is projected to increase by 7%, largely due to planned software projects aimed at migrating the bank's core system to an off-premise platform and developing a new data platform.

    Peer Outperformance in Regional Banks

    SBSI has trailed 86% of its 262 Regional Banks peers over 5Y. Among the peers that beat it are FBP, BPOP and OFG. Regional Banks ranks 8th of 18 industries in Financials by median 5Y return.
    Share of Regional Banks constituents that SBSI has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
    1Y
    40%
    of 281 industry peers · 24.9% return
    3Y
    11%
    of 273 industry peers · 36.7% return
    5Y
    14%
    of 262 industry peers · -2.3% return
    Regional Banks peers with revenue growth within 4pp of SBSI's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
    Ticker Name Rev Growth 3Y Avg P/E 1Y3Y5Y 5Y Gap
    SBSI Southside Bancshares 2.5% 10.3x 24.9%36.7%-2.3% —
    FBP First BanCorp 2.9% 10.7x 33.9%101.1%117.2% +119pp
    BPOP Popular 2.8% 10.3x 41.4%144.6%117.1% +119pp
    OFG OFG Bancorp 4.5% 9.7x 30.7%73.5%113.0% +115pp
    BANF BancFirst 5.4% 15.4x 6.0%43.1%84.8% +87pp
    EWBC East West Bancorp 6.3% 12.3x 31.5%139.6%76.7% +79pp
    Price returns, excluding dividends. P/E shown for context only and not used for matching.
    Median price return by industry across the Financials sector, ranked by 5Y. Regional Banks is SBSI's own industry. Use this to see which corners of the sector have carried the returns.
    Industry Names 1Y med3Y med5Y med Top 3 by 5Y
    Reinsurance 6 33.1%75.7%125.1% SPNT 168% · RGA 162% · RNR 141%
    Investment Banking & Brokerage 13 -3.9%89.1%93.1% IBKR 305% · SNEX 152% · GS 141%
    Diversified Banks 12 30.0%140.4%90.3% CM 144% · RY 129% · JPM 127%
    Life & Health Insurance 20 14.3%52.3%75.4% JXN 514% · UNM 224% · FG 188%
    Property & Casualty Insurance 42 18.9%76.8%66.8% TRV 178% · PGR 172% · ACGL 168%
    Multi-Sector Holdings 3 10.1%53.8%59.4% BRK-B 99% · VOYA 59% · JEF 37%
    Multi-line Insurance 9 9.5%71.4%59.4% AIZ 105% · GNW 104% · L 98%
    Regional Banks ← 263 30.0%87.5%46.7% CBC 268% · FCNCA 176% · NIC 136%
    Insurance Brokers 15 5.5%13.4%33.4% LIFE 287% · ARX 89% · WTW 56%
    Financial Exchanges & Data 15 20.6%37.2%27.9% CBOE 183% · VIRT 131% · CME 71%
    Asset Management & Custody Banks 83 -5.9%22.8%12.3% VCTR 210% · AAMI 207% · WT 205%
    Consumer Finance 30 2.9%81.0%8.1% ENVA 330% · FCFS 130% · ECPG 111%
    Commercial & Residential Mortgage Finance 14 -46.5%36.8%2.5% FNMA 327% · FMCC 293% · ACT 158%
    Diversified Financial Services 4 -1.6%20.1%-1.1% FRHC 153% · EQH 71%
    Specialized Finance 3 15.8%31.5%-19.7% HASI -20% · CACC -24%
    Transaction & Payment Processing Services 17 19.3%9.1%-29.4% V 103% · MA 94% · CPAY 83%
    Mortgage REITs 35 -18.0%-6.1%-37.2% RITM 36% · DX 17% · AGNC 10%
    Diversified Capital Markets 20 -47.1%-8.5%-70.1% LPLA 83% · TW 38% · RIOT -53%
    Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

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    Financials

    SBSICFRPBFFINTCBIHTHMedian
    NameSouthsid.Cullen/F.Prosperi.First Fi.Texas Ca.Hilltop  
    Mkt Price34.40156.7571.9830.68102.5136.3154.15
    Mkt Cap1.09.77.34.44.52.14.4
    Rev LTM2782,3361,3326521,3271,2251,276
    Op Inc LTM-------
    FCF LTM155578590325472110398
    FCF 3Y Avg81435520292405226348
    CFO LTM172764621347488140417
    CFO 3Y Avg96588547309438240373

    Growth & Margins

    SBSICFRPBFFINTCBIHTHMedian
    NameSouthsid.Cullen/F.Prosperi.First Fi.Texas Ca.Hilltop  
    Rev Chg LTM16.0%6.6%12.9%12.8%33.1%4.5%12.8%
    Rev Chg 3Y Avg2.5%5.5%6.5%9.3%8.1%2.8%6.0%
    Rev Chg Q69.3%6.5%25.6%10.8%9.1%-6.1%9.9%
    QoQ Delta Rev Chg LTM12.2%1.6%6.1%2.6%2.2%-1.5%2.4%
    Op Inc Chg LTM-------
    Op Inc Chg 3Y Avg-------
    Op Mgn LTM-------
    Op Mgn 3Y Avg-------
    QoQ Delta Op Mgn LTM-------
    CFO/Rev LTM62.0%32.7%46.6%53.2%36.8%11.4%41.7%
    CFO/Rev 3Y Avg36.7%27.1%46.0%53.9%39.2%21.0%38.0%
    FCF/Rev LTM55.6%24.8%44.3%49.9%35.5%9.0%39.9%
    FCF/Rev 3Y Avg31.0%20.2%43.7%51.0%36.1%19.8%33.5%

    Valuation

    SBSICFRPBFFINTCBIHTHMedian
    NameSouthsid.Cullen/F.Prosperi.First Fi.Texas Ca.Hilltop  
    Mkt Cap1.09.77.34.44.52.14.4
    P/S3.74.25.46.73.41.73.9
    P/Op Inc-------
    P/EBIT-------
    P/E10.414.112.916.312.314.713.5
    P/CFO6.012.811.712.79.214.812.2
    Total Yield13.9%9.7%11.0%8.6%8.1%9.0%9.4%
    Dividend Yield4.2%2.6%3.2%2.5%0.0%2.3%2.6%
    FCF Yield 3Y Avg9.3%5.4%8.0%6.0%11.2%10.8%8.6%
    D/E1.90.00.30.00.20.30.3
    Net D/E0.1-0.80.1-0.7-0.6-0.8-0.7

    Returns

    SBSICFRPBFFINTCBIHTHMedian
    NameSouthsid.Cullen/F.Prosperi.First Fi.Texas Ca.Hilltop  
    1M Rtn13.9%2.5%7.3%-3.9%10.3%-2.1%4.9%
    3M Rtn6.5%-4.3%-2.0%-11.0%3.3%-7.2%-3.1%
    6M Rtn4.6%14.7%5.4%-4.0%2.4%-4.0%3.5%
    12M Rtn25.0%30.0%11.6%0.9%20.8%12.1%16.5%
    3Y Rtn36.9%78.7%39.9%28.1%80.9%31.4%38.4%
    1M Excs Rtn15.7%5.7%10.6%-0.8%14.6%0.6%8.1%
    3M Excs Rtn8.2%-3.2%-1.0%-10.0%4.3%-6.1%-2.1%
    6M Excs Rtn-0.2%9.9%0.6%-8.8%-2.4%-8.8%-1.3%
    12M Excs Rtn14.0%17.3%-1.3%-10.8%9.4%0.4%4.9%
    3Y Excs Rtn-34.9%4.0%-37.2%-46.6%4.1%-42.2%-36.0%

    Comparison Analyses

    null

    FDIC Bank Data

    Bank Assets

    Bank Loans

    Financials

    $ Mil | FY: 12/312026Q32026Q22026Q12025Q42025Q32025Q22025Q12024Q42024Q32024Q22024Q12023Q4
    Period End9/30/20266/30/20263/31/202612/31/20259/30/20256/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/2023
    Filing Date10/29/20267/24/20264/30/20262/27/202610/28/20257/25/20254/30/20252/27/202510/28/20247/26/20244/26/20242/27/2024
    Key Financials Quarterly            
    Total Revenue747170634466646664656358
    Net Income28272321522222221252217
    EPS0.940.900.780.700.160.720.710.720.680.810.710.57
    Key Financials TTM            
    Total Revenue TTM278247242236239259258257249249249251
    Net Income TTM997671697086888884828287
    Growth Rates Quarterly            
    Total Revenue Growth69.3%7.6%9.7%-4.8%-31.3%1.9%1.5%13.7%-0.2%1.2%-3.5%-15.4%
    Net Income Growth469.4%23.0%8.1%-3.7%-76.1%-11.6%-0.0%25.8%11.2%-0.9%-17.4%-37.4%
    Margins Quarterly            
    Net Income Margin37.8%37.8%33.3%33.4%11.2%33.0%33.8%33.0%32.3%38.1%34.3%29.8%
    Cash & Debt            
    Total Cash1,8081,7441,8271,6461,4845051,8551,9071,8721,7931,8091,810
    Total Debt1,9171,6388947345157798599761,034932941893
    Net Debt / (Cash)109-107-933-912-968274-995-931-838-861-868-917
    Cash Flows Quarterly            
    FCF from Operations673249244062439-121658-57
    Cash Flows TTM            
    FCF from Operations TTM17214511994109576710269711580
    Returns to Shareholders Quarterly            
    Dividends111111111111111111111111
    Share Repurchases-0-0-0112-0-0-0-02-05
    Return on Invested Capital (ROIC) Quarterly            
    ROIC36.9%74.7%---17.7%------
    Return on Invested Capital (ROIC) TTM            
    ROIC TTM32.7%52.9%---17.4%------

    Segment Financials

    Revenue by Segment
    $ Mil20252024202320222021
    Community banking237258251253 
    Single Segment    238
    Total237258251253238


    Price Behavior

    Price Behavior
    Market Price$34.36 
    Market Cap ($ Bil)1.0 
    First Trading Date05/13/1998 
    Distance from 52W High-3.2% 
       50 Days200 Days
    DMA Price$31.60$32.01
    DMA Trenddownindeterminate
    Distance from DMA8.7%7.3%
     3M1YR
    Volatility22.5%23.1%
    Downside Capture-34.7330.89
    Upside Capture26.7358.62
    Correlation (S&P 500)-1.8%21.5%
    SBSI Betas & Captures as of 10/31/2026

     1M2M3M6M1Y3Y
    Beta-0.74-0.11-0.020.150.400.67
    Up Beta-2.39-0.49-0.090.120.380.71
    Down Beta-0.14-0.62-0.67-0.190.100.62
    Up Capture7%33%27%22%50%35%
    Bmk +ve Days12182862130427
    Stock +ve Days13213063131370
    Down Capture-174%-21%3%33%49%87%
    Bmk -ve Days10253664121325
    Stock -ve Days9223362116372

    [1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
    Based On 1-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with SBSI
    SBSI27.5%23.1%0.97-
    Sector ETF (XLF)11.1%15.2%0.4752.1%
    Equity (SPY)9.5%13.6%0.4124.9%
    Gold (GLD)3.6%28.7%0.11-0.7%
    Commodities (DBC)37.7%21.2%1.40-28.6%
    Real Estate (VNQ)12.0%14.2%0.5542.5%
    Bitcoin (BTCUSD)-20.8%43.3%-0.424.5%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How
    Based On 5-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with SBSI
    SBSI0.6%28.0%0.02-
    Sector ETF (XLF)9.1%18.4%0.3656.2%
    Equity (SPY)11.3%17.3%0.4838.5%
    Gold (GLD)17.5%19.1%0.74-1.7%
    Commodities (DBC)8.0%19.6%0.293.3%
    Real Estate (VNQ)1.2%18.9%-0.0541.9%
    Bitcoin (BTCUSD)5.9%51.5%0.2915.4%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How
    Based On 10-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with SBSI
    SBSI4.9%29.8%0.21-
    Sector ETF (XLF)13.3%22.1%0.5467.1%
    Equity (SPY)14.9%18.0%0.7049.4%
    Gold (GLD)12.0%16.5%0.59-4.6%
    Commodities (DBC)7.6%18.1%0.3313.8%
    Real Estate (VNQ)5.7%20.7%0.2345.8%
    Bitcoin (BTCUSD)61.3%66.2%1.0111.2%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How

    Short Interest

    Short Interest: As Of Date10152026
    Short Interest: Shares Quantity1.0 Mil
    Short Interest: % Change Since 9302026-0.0%
    Average Daily Volume0.1 Mil
    Days-to-Cover Short Interest6.6 days
    Basic Shares Quantity29.8 Mil
    Short % of Basic Shares3.3%

    Returns Analyses

    Earnings Returns History

    Updated 11/6/2026
    Expand for More
     Forward Returns
    Earnings Date1D Returns5D Returns21D Returns
    10/29/20261.1%3.2% 
    7/24/2026-5.1%-5.0%-5.2%
    4/30/20264.0%1.9%-0.2%
    1/29/2026-0.4%3.7%-0.6%
    10/24/20251.7%2.3%6.8%
    7/25/20251.6%-4.7%3.9%
    4/29/2025-1.7%-1.2%0.4%
    1/29/2025-0.0%2.3%-1.0%
    ...
    SUMMARY STATS   
    # Positive101514
    # Negative1499
    Median Positive1.7%2.7%5.5%
    Median Negative-0.9%-1.9%-2.6%
    Max Positive11.6%12.8%10.9%
    Max Negative-5.1%-9.9%-12.2%
     Collapse to Preview
     Forward Returns
    Earnings Date1D Returns5D Returns21D Returns
    10/29/20261.1%3.2% 
    7/24/2026-5.1%-5.0%-5.2%
    4/30/20264.0%1.9%-0.2%
    1/29/2026-0.4%3.7%-0.6%
    10/24/20251.7%2.3%6.8%
    7/25/20251.6%-4.7%3.9%
    4/29/2025-1.7%-1.2%0.4%
    1/29/2025-0.0%2.3%-1.0%
    10/24/2024-0.8%-1.1%10.9%
    7/25/2024-1.1%-3.2%-0.6%
    4/25/2024-1.4%-0.4%-2.6%
    1/26/20245.9%-1.9%-6.0%
    10/26/2023-2.0%1.3%0.5%
    7/25/202311.6%12.8%1.6%
    4/25/2023-0.9%-9.9%-12.2%
    1/27/2023-0.4%7.5%4.6%
    10/25/2022-2.5%3.7%10.0%
    7/25/20222.8%3.4%2.3%
    4/26/2022-0.7%0.3%0.3%
    1/28/20221.6%2.7%-2.6%
    10/26/20210.6%1.1%7.6%
    7/23/2021-0.3%2.8%7.0%
    4/23/20210.6%-0.5%6.4%
    1/27/2021-1.0%1.1%9.0%
    SUMMARY STATS   
    # Positive101514
    # Negative1499
    Median Positive1.7%2.7%5.5%
    Median Negative-0.9%-1.9%-2.6%
    Max Positive11.6%12.8%10.9%
    Max Negative-5.1%-9.9%-12.2%

    SEC Filings

    Expand for More
    Report DateFiling DateFiling
    09/30/202610/29/202610-Q
    06/30/202607/24/202610-Q
    03/31/202604/30/202610-Q
    12/31/202502/27/202610-K
    09/30/202510/28/202510-Q
    06/30/202507/25/202510-Q
    03/31/202504/30/202510-Q
    12/31/202402/27/202510-K
    09/30/202410/28/202410-Q
    06/30/202407/26/202410-Q
    03/31/202404/26/202410-Q
    12/31/202302/27/202410-K
    09/30/202310/27/202310-Q
    06/30/202307/28/202310-Q
    03/31/202304/28/202310-Q
    12/31/202202/24/202310-K
     Collapse to Preview
    Report DateFiling DateFiling
    09/30/202610/29/202610-Q
    06/30/202607/24/202610-Q
    03/31/202604/30/202610-Q
    12/31/202502/27/202610-K
    09/30/202510/28/202510-Q
    06/30/202507/25/202510-Q
    03/31/202504/30/202510-Q
    12/31/202402/27/202510-K
    09/30/202410/28/202410-Q
    06/30/202407/26/202410-Q
    03/31/202404/26/202410-Q
    12/31/202302/27/202410-K
    09/30/202310/27/202310-Q
    06/30/202307/28/202310-Q
    03/31/202304/28/202310-Q
    12/31/202202/24/202310-K
    09/30/202210/28/202210-Q
    06/30/202207/29/202210-Q
    03/31/202204/28/202210-Q
    12/31/202102/25/202210-K
    09/30/202110/29/202110-Q
    06/30/202107/30/202110-Q
    03/31/202104/30/202110-Q
    12/31/202002/26/202110-K
    09/30/202010/30/202010-Q
    06/30/202007/31/202010-Q
    03/31/202005/08/202010-Q
    12/31/201902/28/202010-K

    Insider Activity

    Updated 9/11/2026
    Expand for More
    #OwnerTitleHoldingActionFiling DatePriceSharesTransacted
    Value    		Value of
    Held Shares    		Form
    1Craddock, John Mitchell JRChief Operating OfficerDirectSell911202632.0141513,284140,140Form
    2Craddock, John Mitchell JRChief Operating OfficerDirectSell609202633.3848616,223162,594Form
    3Calhoun, Kirk A DirectBuy204202633.153009,945567,627Form
    4Buie, Herbert C DirectBuy1205202530.681,80755,43911,943,356Form
     Collapse to Preview
    #OwnerTitleHoldingActionFiling DatePriceSharesTransacted
    Value    		Value of
    Held Shares    		Form
    1Craddock, John Mitchell JRChief Operating OfficerDirectSell911202632.0141513,284140,140Form
    2Craddock, John Mitchell JRChief Operating OfficerDirectSell609202633.3848616,223162,594Form
    3Calhoun, Kirk A DirectBuy204202633.153009,945567,627Form
    4Buie, Herbert C DirectBuy1205202530.681,80755,43911,943,356Form

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