Southside bancshares, inc. (SBSI)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
OPERATING ACTIVITIES:
Net income

74,554

74,138

54,312

49,349

43,997

20,833

41,190

34,695

40,491

40,058

45,863

Adjustments to reconcile net income to net cash provided by operations:
Depreciation and net amortization

12,111

14,045

10,208

9,084

8,624

3,458

3,844

3,606

3,365

3,204

2,888

Amortization of premium

-

-

-

-

-

-

-

45,926

37,117

35,245

15,393

Securities premium amortization (discount accretion), net

-13,874

-13,675

-17,639

-19,126

-21,978

-18,522

-28,147

4,746

4,336

4,502

3,913

Loan (discount accretion) premium amortization, net

1,211

2,333

1,142

2,520

2,746

1,343

4,432

-

-

-

-

Provision for (reversal of) credit losses

5,100

8,400

4,700

9,780

8,343

14,938

8,879

10,736

7,496

13,737

15,093

Stock compensation expense

2,388

2,317

1,815

1,541

1,395

1,086

911

511

261

0

0

Deferred tax (benefit) expense

122

6,154

3,514

1,768

-3,392

-925

1,386

1,233

1,254

-673

1,642

Net tax benefit related to stock awards

-

-

-

332

75

-72

65

11

0

0

-

Gain on sale of loans

-

-

-

-

-

-

770

-

-

-

-

Loss on sale of securities carried at fair value through income

-

-

-

-

-

-

-

-498

937

0

0

Net (gain) loss on sale of securities available for sale

756

-1,839

625

2,836

3,660

2,830

8,472

17,966

11,795

25,789

33,446

Net other-than-temporary impairment losses

-

-

-

-

-

-

-

-

0

75

3,000

Impairment of investment in SFG Finance, LLC.

-

-

-

-

-

2,755

0

0

-

-

-

Fair value gain  securities

-

-

-

-

-

-

-

-

6,693

-598

0

FHLB advance option impairment charges

-

-

-

-

-

-

-

2,031

8,923

0

0

Net (gain) loss on premises and equipment

-592

-768

-152

-376

-584

-14

-8

1

4

-

-

Gross proceeds from sales of loans held for sale

22,041

24,092

58,747

82,062

70,014

11,007

25,509

-

-

-

-

Gross originations of loans held for sale

21,823

22,692

53,107

85,892

70,926

13,007

22,059

-

-

-

-

Loss on retirement of assets

-

-

-

-

-

-

-

-

-90

0

-171

Gain on sale of assets

-

-

-

-

-

-

-

-

-

7

0

Impairment on other real estate owned

-

-

-

-

-

-

-

28

264

20

729

Net loss (gain) on other real estate owned

100

-433

-7

-219

-430

-137

-41

19

298

-153

-52

Net gain on sale of customer receivables

0

124

0

194

0

0

-

-

-

-

-

Net change in:
Interest receivable

1,165

-1,204

63

2,483

264

-2,512

3,037

-490

1,393

-449

2,130

Other assets

12,275

2,166

3,909

-1,823

-325

5,573

9,310

90

2,254

8,289

12,239

Interest payable

530

1,257

570

2,334

129

-99

-444

-886

-888

-879

-1,621

Other liabilities

-13,377

1,358

-1,063

3,520

-1,775

4,477

182

-3,952

2,396

1,566

-944

Loans originated for sale

-

-

-

-

-

-

-

49

-3,031

3,726

2,346

Net cash (used in) provided by operating activities

80,606

122,402

91,730

86,725

72,981

56,034

59,506

69,568

73,582

52,586

24,908

INVESTING ACTIVITIES:
Purchases

1,253,139

306,867

619,398

1,001,742

984,725

803,163

1,499,307

1,807,157

629,911

1,399,085

1,484,005

Sales

751,116

428,518

685,152

573,051

660,092

650,391

826,735

1,004,315

582,362

1,325,221

978,610

Maturities, calls and principal repayments

201,529

137,883

113,183

207,500

278,995

272,073

379,661

362,887

268,514

357,164

324,558

Securities held to maturity:
Purchases

0

0

6,260

44,656

98,556

0

140,861

0

11,875

258,935

139,228

Maturities, calls and principal repayments

27,833

3,064

28,974

31,251

23,322

21,889

168,673

113,086

46,396

74,915

51,167

Securities carried at fair value through income:
Purchases

-

-

-

-

-

-

-

57,606

868,937

32,689

0

Sales

-

-

-

-

-

-

-

675,255

234,403

0

0

Maturities, calls and principal repayments

-

-

-

-

-

-

-

25,279

56,406

3,462

0

Proceeds from redemption of Federal Home Loan Bank stock and equity investments

8,788

24,360

6,945

3,644

8,603

12,872

5,819

18,572

18,236

6,818

3,698

Purchases of Federal Home Loan Bank stock and equity investments

26,483

1,518

1,233

13,667

19,850

4,915

11,995

12,592

17,393

2,900

2,916

Net loan (originations) paydowns

262,137

24,491

117,750

139,607

251,465

158,572

99,446

186,814

21,898

58,985

26,657

Proceeds from sales of customer receivables

0

4,300

0

3,325

-

67,575

0

0

-

-

-

Proceeds from sales of customer receivables

-

-

-

-

0

0

-

-

-

-

-

Net cash and cash equivalents acquired in acquisition

0

-

115,598

0

0

-

-

-

-

-

-

Payments to Acquire Businesses, Gross

0

-

23,941

0

0

127,020

0

0

-

-

-

Purchases of premises and equipment

15,883

13,444

9,633

6,549

3,765

5,162

5,662

3,109

3,915

6,902

6,814

Proceeds from bank owned life insurance

0

5,956

0

0

-

-

4,165

0

0

-

-1,086

Proceeds from sales of premises and equipment

96

1,943

12

128

26

8

0

24

13

38

0

Proceeds from sales of other real estate owned

1,122

1,717

659

2,024

640

535

480

567

1,431

1,648

1,102

Proceeds from sales of repossessed assets

328

483

429

894

2,274

6,199

3,935

4,453

4,820

4,949

2,900

Net cash (used in) provided by investing activities

-566,830

261,904

172,737

-384,404

-384,409

-67,290

-367,803

137,160

-341,348

14,719

-296,499

FINANCING ACTIVITIES:
Net change in deposits

272,638

-106,014

82,960

78,426

82,251

45,253

175,882

-

-

-

-

Net increase in demand and savings accounts

-

-

-

-

-

-

-

267,513

150,439

190,323

-94,798

Net increase (decrease) in certificates of deposit

-

-

-

-

-

-

-

-237,848

40,842

87,268

199,521

Net change in other borrowings

-8,452

27,312

2,401

4,668

-1,808

1,378

-125

-1,961

-899

-9,481

2,696

Proceeds from Federal Home Loan Bank borrowings

6,914,800

4,201,500

2,786,476

8,158,985

23,022,132

7,102,277

20,739,951

16,010,884

13,270,293

8,949,688

7,961,046

Repayment of Federal Home Loan Bank borrowings

6,661,119

4,499,788

3,078,743

7,996,913

22,771,367

7,091,125

20,687,239

16,113,337

13,210,331

9,241,985

7,991,050

Proceeds from Issuance of Subordinated Long-term Debt

-

-

-

98,060

0

0

-

-

-

-

-

Net capital distributions to noncontrolling interest in consolidated entities

-

-

-

-

-

-

-

-

475

310

1,471

Purchase of noncontrolling interest

-

-

-

-

-

-

-

-

4,750

0

0

Tax benefit related to stock awards

-

-

-

332

75

-72

65

44

2

0

651

Proceeds from stock option exercises

1,986

2,653

2,692

1,663

235

-

-

-

-

-

-

Cash paid to tax authority related to tax withholding on share-based awards

394

248

222

104

69

-

-

-

-

-

-

Tax benefit of incentive stock options

-

-

-

-

-

-

-

-

-

331

-

Net issuance of common stock under employee stock plan

-

-

-

-

-

1,074

155

-5

0

0

-

Purchase of common stock

2,181

47,193

0

10,199

0

0

1,899

7,416

0

4,832

430

Proceeds from the issuance of common stock for dividend reinvestment plan

1,445

1,478

1,483

1,411

1,370

1,213

-

-

-

-

-

Proceeds from the issuance of common stock

-

-

-

75,992

0

0

1,396

1,874

1,481

1,823

2,300

Cash dividends paid

42,521

41,979

32,199

25,963

25,071

17,919

16,088

19,084

14,671

13,223

11,078

Payments for other financing activities

0

0

277

0

0

599

0

0

-

-

-

Net cash provided by financing activities

476,202

-462,279

-235,429

386,358

307,748

41,480

212,098

-99,336

231,931

-40,398

256,983

Net increase in cash and cash equivalents

-10,022

-77,973

29,038

88,679

-3,680

30,224

-96,199

107,392

-35,835

26,907

-14,608

SUPPLEMENTAL DISCLOSURES FOR CASH FLOW INFORMATION:
Interest paid

70,452

55,844

42,934

27,014

19,725

17,055

18,412

27,781

36,519

46,186

54,293

Income taxes paid

10,500

2,000

11,300

5,700

8,500

4,300

4,000

11,200

9,000

10,650

17,500

SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES:
Loans transferred to other repossessed assets and real estate through foreclosure

649

2,128

574

5,777

1,706

5,211

5,793

5,659

6,232

6,990

-

Loans transferred from portfolio to held for sale

0

3,984

0

0

-

-

-

-

-

-

-

Transfer of held to maturity securities to available for sale securities

0

743,421

0

0

-

-

-

-

-

-

-

Securities Transferred From Available for Sale to Held to Maturity

0

0

-

157,083

57,724

0

452,884

0

0

-

-

Acquisition of other repossessed assets and real estate through foreclosure

-

-

-

-

-

-

-

-

-

-

8,560

Adjustment To Pension Liability

-

-

-

1,441

-5,176

14,503

21,602

-8,383

8,382

-5,531

-4,099

Dividends, Stock

0

0

24,960

34,765

32,675

-

-

-

-

-

-

5% stock dividend

-

-

-

-

-

26,065

17,060

17,459

15,995

15,513

13,527

Unsettled trades to purchase securities

-

-

-

-

-

-

-

-

-

-

-2,573

Unsettled trades to sell securities

-

-

-

-

-

-

-

-

-

-

8,084

Unsettled issuances of brokered certificates of deposit

-

-

-

-

-

-

-

-

-

-

19,842

Common stock issued in acquisition

0

0

200,364

0

0

151,891

0

-

-

-

-