UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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): January 22, 2004
SOUTHSIDE BANCSHARES, INC.
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)
| ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS. | ||||||||
| ITEM 12. RESULTS OF OPERATIONS AND FINANCIAL CONDITION. | ||||||||
| SIGNATURE | ||||||||
| EXHIBIT INDEX | ||||||||
| EX-99.1 Press Release | ||||||||
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits.
The following exhibit is furnished herewith pursuant to Item 12, is not to be considered “filed” under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and shall not be incorporated into any of the previous or future filings of Southside Bancshares, Inc. under the Securities Act of 1933, as amended, or the Exchange Act:
| EXHIBIT NO. | DESCRIPTION OF EXHIBIT | |
| 99.1 | Press Release dated January 22, 2004 of Southside Bancshares, Inc. with respect to the financial results for the fourth quarter and year ended December 31, 2003 |
ITEM 12. RESULTS OF OPERATIONS AND FINANCIAL CONDITION.
On January 22, 2004, Southside Bancshares, Inc. announced its financial results for the fourth quarter and year ended December 31, 2003, reporting earnings of $4.0 million and $13.6 million, respectively and diluted earnings per common share of $0.37 and $1.28, respectively. A copy of the press release 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: January 22, 2004 | By: | /s/ Lee R. Gibson | ||
| Lee R. Gibson Executive Vice President and Chief Financial Officer |
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EXHIBIT INDEX
| EXHIBIT NO. | DESCRIPTION OF EXHIBIT | |
| 99.1 | Press Release dated January 22, 2004 of Southside Bancshares, Inc. with respect to the financial results for the fourth quarter and year ended December 31, 2003. |