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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): APRIL 17, 2003
SOUTHSIDE BANCSHARES, INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
TEXAS
(STATE OR OTHER JURISDICTION OF INCORPORATION OR ORGANIZATION)
0-12247
(COMMISSION FILE NUMBER)
75-1848732
(I.R.S. EMPLOYER IDENTIFICATION NO.)
1201 S. BECKHAM
TYLER, TEXAS
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)
75701
(ZIP CODE)
(903) 531-7111
(REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE)
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ITEM 5. OTHER EVENTS.
On April 17, 2003, Southside Bancshares, Inc. ("the Registrant") announced
financial results for the first quarter ended March 31, 2003, reporting earnings
of $3.4 million and diluted earnings per common share of $0.34. A copy of the
press release announcing the Registrant's results for the first quarter ended
March 31, 2003 is attached hereto as Exhibit 99.1 and incorporated by reference
herein. The press release includes information regarding interest income on a
taxable equivalent basis or FTE. FTE is a non-GAAP performance measure used by
management in operating the business which management believes provides
investors with a more accurate picture of the interest yield, spread and margin
for comparative purposes.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) EXHIBITS.
The following exhibit is filed herewith:
EXHIBIT NO. DESCRIPTION OF EXHIBIT
99.1 Press Release dated April 17, 2003 with respect to the
Registrant's financial results for the quarter ended March 31,
2003
ITEM 9. REGULATION FD DISCLOSURE.
The information included in this section is intended to be included under "Item
12. Disclosure of Results of Operations and Financial Condition" and is included
under this Item 9 in accordance with SEC Release No. 33-8216.
On April 17, 2003, the Registrant announced financial results for the first
quarter ended March 31, 2003, reporting earnings of $3.4 million and diluted
earnings per common share of $0.34. A copy of the press release announcing the
Registrant's results for the first quarter ended March 31, 2003 is attached
hereto as Exhibit 99.1 and incorporated by reference herein. The press release
includes information regarding interest income on a taxable equivalent basis or
FTE. FTE is a non-GAAP performance measure used by management in operating the
business which management believes provides investors with a more accurate
picture of the interest yield, spread and margin for comparative purposes.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
SOUTHSIDE BANCSHARES, INC.
Date: April 18, 2003 By: /s/ Lee R. Gibson
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Lee R. Gibson
Executive Vice President and
Chief Financial Officer
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION OF EXHIBIT
99.1 Press Release dated April 17, 2003 with respect to the
Registrant's financial results for the quarter ended March 31,
2003