Southside Bancshares, Inc. Announces Financial Results for the Second Quarter Ended June 30, 2025

Second quarter net income of $21.8 million; Second quarter earnings per diluted common share of $0.72; Tax-equivalent net interest margin(1) linked quarter increased nine basis points to 2.95%; Annualized return on second quarter average assets of 1.07%; Annualized return on second quarter average tangible common equity of 14.38%(1); and Nonperforming assets remain low at 0.39% of total assets. TYLER, Texas, July 25, 2025 (GLOBE NEWSWIRE) -- Southside Bancshares, Inc. (“Southside” or the “Company”) (NYSE: SBSI) today reported its financial results for the quarter ended June 30, 2025. Southside reported net income of $21.8 million for the three months ended June 30, 2025, a decrease of $2.9 million, or 11.6%, compared to $24.7 million for the same period in 2024. Earnings per diluted common share decreased $0.09, or 11.1%, to $0.72 for the three months ended June 30, 2025, from $0.81 for the same period in 2024. The annualized return on average shareholders’ equity for the three months ended June 30, 2025 was 10.73%, compared to 12.46% for the same period in 2024. The annualized return on average assets was 1.07% for the three months ended June 30, 2025, compared to 1.19% for the same period in 2024. “We reported excellent financial results for the second quarter ended June 30, 2025, which included earnings per share of $0.72, a return on average assets of 1.07%, and a return on average tangible common equity of 14.38%,” stated Lee R. Gibson, Chief Executive Officer of Southside. “Linked quarter, the net interest margin(1) increased nine basis points to 2.95%, net interest income increased $414,000 to $54.3 million, and deposits net of public fund and brokered deposits increased $90.1 million. The linked quarter total loans increased $35 million, while average loans decreased $106 million due primarily to heavy payoffs during the first two months of the quarter. Total loan growth during the month of June was $104 million. Our loan pipeline is solid and we currently anticipate three to four percent loan growth for all of 2025. During the quarter we expensed $1.2 million related to the write-off and demolition of an existing branch that was replaced with a new building.” Operating Results for the Three Months Ended June 30, 2025 Net income was $21.8 million for the three months ended June 30, 2025, compared to $24.7 million for the same period in 2024, a decrease of $2.9 million, or 11.6%. Earnings per diluted common share were $0.72 for the three months ended June 30, 2025, compared to $0.81 for the same period in 2024, a decrease of 11.1%. The decrease in net income was a result of increases in noninterest expense and provision for credit losses, partially offset by increases in net interest income and noninterest income and a decrease in income tax expense. Annualized returns on average assets and average shareholders’ equity for the three months ended June 30, 2025 were 1.07% and 10.73%, respectively, compared to 1.19% and 12.46%, respectively, for the three months ended June 30, 2024. Our efficiency ratio and tax-equivalent efficiency ratio(1) were 55.67% and 53.70%, respectively, for the three months ended June 30, 2025, compared to 54.90% and 52.71%, respectively, for the three months ended June 30, 2024, and 57.04% and 55.04%, respectively, for the three months ended March 31, 2025. Net interest income for the three months ended June 30, 2025 was $54.3 million, an increase of $0.7 million, or 1.2%, compared to the same period in 2024. The increase in net interest income was due to decreases in the average rate paid on and average balance of our interest bearing liabilities, partially offset by decreases in the average yield of and average balance of our interest earning assets. Linked quarter, net interest income increased $0.4 million, or 0.8%, compared to $53.9 million for the three months ended March 31, 2025, due to the decrease in the average balance of interest bearing liabilities, the increase in the average yield on our interest earning assets and the decrease in the rate paid on interest bearing liabilities, partially offset by the decrease in the average balance of our interest earning assets. Our net interest margin and tax-equivalent net interest margin(1) increased to 2.82% and 2.95%, respectively, for the three months ended June 30, 2025, compared to 2.74% and 2.87%, respectively, for the same period in 2024. Linked quarter, net interest margin and tax-equivalent net interest margin(1) increased from 2.74% and 2.86%, respectively, for the three months ended March 31, 2025. Noninterest income was $12.1 million for the three months ended June 30, 2025, an increase of $0.6 million, or 5.1%, compared to $11.6 million for the same period in 2024. The increase was primarily due to a decrease in net loss on sale of securities available for sale (“AFS”) and increases in other noninterest income and trust fees, partially offset by a decrease in bank owned life insurance income (“BOLI”). On a linked quarter basis, noninterest income increased $1.9 million, or 18.8%, compared to the three months ended March 31, 2025. The increase was primarily due to an increase in other noninterest income, a decrease in net loss on sale of securities AFS, and increases in deposit services income, trust income and brokerage services income. The increase in other noninterest income was primarily due to an increase in swap fee income for the three months ended June 30, 2025. Noninterest expense increased $3.5 million, or 9.8%, to $39.3 million for the three months ended June 30, 2025, compared to $35.8 million for the same period in 2024, primarily due to increases in other noninterest expense, professional fees and salaries and employee benefits expense. On a linked quarter basis, noninterest expense increased by $2.2 million, or 5.8%, compared to the three months ended March 31, 2025, due to increases in other noninterest expense and net occupancy expense. The increase in other noninterest expense was primarily due to a one-time charge of $1.2 million on the demolition of an old branch facility following completion of the new branch during the three months ended June 30, 2025. Income tax expense decreased $0.5 million, or 9.5%, for the three months ended June 30, 2025, compared to the same period in 2024. On a linked quarter basis, income tax expense remained the same at $4.7 million. Our effective tax rate (“ETR”) increased slightly to 17.8% for the three months ended June 30, 2025, compared to 17.4% for the three months ended June 30, 2024, and decreased slightly from 18.0% for the three months ended March 31, 2025. The higher ETR for the three months ended June 30, 2025 compared to the same period in 2024, was primarily due to an increase in state income tax expense. Operating Results for the Six Months Ended June 30, 2025 Net income was $43.3 million for the six months ended June 30, 2025, compared to $46.2 million for the same period in 2024, a decrease of $2.9 million, or 6.2%. Earnings per diluted common share were $1.42 for the six months ended June 30, 2025, compared to $1.52 for the same period in 2024, a decrease of 6.6%. The decrease in net income was a result of increases in noninterest expense and provision for credit losses, partially offset by increases in net interest income and noninterest income and a decrease in income tax expense. Returns on average assets and average shareholders’ equity for the six months ended June 30, 2025 were 1.05% and 10.65%, respectively, compared to 1.11% and 11.74%, respectively, for the six months ended June 30, 2024. Our efficiency ratio and tax-equivalent efficiency ratio(1) were 56.34% and 54.36%, respectively, for the six months ended June 30, 2025, compared to 56.41% and 54.11%, respectively, for the six months ended June 30, 2024. Net interest income was $108.1 million for the six months ended June 30, 2025, compared to $107.0 million for the same period in 2024, an increase of $1.2 million, or 1.1%, due to decreases in the average rate paid on and average balance of our interest bearing liabilities, partially offset by the decrease in the average yield of interest earning assets. Our net interest margin and tax-equivalent net interest margin(1) were 2.78% and 2.91%, respectively, for the six months ended June 30, 2025, compared to 2.73% and 2.87%, respectively, for the same period in 2024. Noninterest income was $22.4 million for the six months ended June 30, 2025, an increase of $1.1 million, or 5.1%, compared to $21.3 million for the same period in 2024. The increase was primarily due to increases in trust fees, other noninterest income and gain on sale of loans, partially offset by a decrease in BOLI income. Noninterest expense was $76.3 million for the six months ended June 30, 2025, compared to $72.6 million for the same period in 2024, an increase of $3.7 million, or 5.1%. The increase was primarily due to increases in other noninterest expense and professional fees, partially offset by a decrease in salaries and employee benefits expense. Income tax expense decreased $0.4 million, or 4.0%, for the six months ended June 30, 2025, compared to the same period in 2024. Our ETR was approximately 17.9% and 17.6% for the six months ended June 30, 2025 and 2024, respectively. The higher ETR for the six months ended June 30, 2025, as compared to the same period in 2024, was primarily due to an increase in state income tax expense. Balance Sheet Data At June 30, 2025, Southside had $8.34 billion in total assets, compared to $8.52 billion at December 31, 2024 and $8.36 billion at June 30, 2024. Loans at June 30, 2025 were $4.60 billion, an increase of $12.6 million, or 0.3%, compared to $4.59 billion at June 30, 2024. Linked quarter, loans increased $34.7 million, or 0.8%, due to increases of $28.8 million in commercial real estate loans, $12.3 million in construction loans and $9.0 million in commercial loans. These increases were partially offset by decreases of $7.5 million in municipal loans, $5.3 million in 1-4 family residential loans and $2.5 million in loans to individuals. Securities at June 30, 2025 were $2.73 billion, an increase of $18.1 million, or 0.7%, compared to $2.71 billion at June 30, 2024. Linked quarter, securities decreased $6.2 million, or 0.2%, from $2.74 billion at March 31, 2025. Deposits at June 30, 2025 were $6.63 billion, an increase of $136.0 million, or 2.1%, compared to $6.50 billion at June 30, 2024. Linked quarter, deposits increased $41.1 million, or 0.6%, from $6.59 billion at March 31, 2025. At June 30, 2025, we had 178,970 total deposit accounts with an average balance of $34,000. Our estimated uninsured deposits were 38.5% of total deposits as of June 30, 2025. When excluding affiliate deposits (Southside-owned deposits) and public fund deposits (all collateralized), our total estimated deposits without insurance or collateral was 21.1% as of June 30, 2025. Our noninterest bearing deposits represent approximately 20.6% of total deposits. Linked quarter, our cost of interest bearing deposits decreased one basis point from 2.83% in the prior quarter to 2.82%. Linked quarter, our cost of total deposits remained at 2.26%. Our cost of interest bearing deposits decreased 16 basis points, from 2.99% for the six months ended June 30, 2024, to 2.83% for the six months ended June 30, 2025. Our cost of total deposits decreased 11 basis points, from 2.37% for the six months ended June 30, 2024, to 2.26% for the six months ended June 30, 2025. Capital Resources and Liquidity Our capital ratios and contingent liquidity sources remain solid. During the second quarter ended June 30, 2025, we purchased 424,435 shares of the Company’s common stock at an average price of $28.13 per share, pursuant to our Stock Repurchase Plan. Under this plan, repurchases of our outstanding common stock may be carried out in open market purchases, privately negotiated transactions or pursuant to any trading plan that might be adopted in accordance with Rule 10b5-1 of The Securities Exchange Act of 1934, as amended. The Company has no obligation to repurchase any shares under the Stock Repurchase Plan and may modify, suspend or discontinue the plan at any time. Subsequent to June 30, 2025, and through July 23, 2025, we purchased 2,443 shares of common stock at an average price of $30.29 pursuant to the Stock Repurchase Plan. As of June 30, 2025, our total available contingent liquidity, net of current outstanding borrowings, was $2.33 billion, consisting of FHLB advances, Federal Reserve Discount Window and correspondent bank lines of credit. Asset Quality Nonperforming assets at June 30, 2025 were $32.9 million, or 0.39% of total assets, an increase of $26.0 million, or 375.7%, compared to $6.9 million, or 0.08% of total assets, at June 30, 2024, due primarily to an increase of $27.4 million in restructured loans. The increase in restructured loans was due to the extension of maturity in the first quarter of 2025 on a $27.5 million commercial real estate loan to allow for an extended lease up period. Linked quarter, nonperforming assets increased $0.7 million, or 2.2%, from $32.2 million at March 31, 2025. The allowance for loan losses totaled $44.4 million, or 0.97% of total loans, at June 30, 2025, compared to $44.6 million, or 0.98% of total loans, at March 31, 2025. The allowance for loan losses was $42.4 million, or 0.92% of total loans, at June 30, 2024. The increase in allowance as a percentage of total loans compared to June 30, 2024 was primarily due to an increase in economic uncertainty forecasted in the CECL model. For the three months ended June 30, 2025, we recorded a provision for credit losses for loans of $0.7 million, compared to a reversal of provision of $0.9 million and a provision of $42,000 for the three months ended June 30, 2024 and March 31, 2025, respectively. Net charge-offs were $0.9 million for the three months ended June 30, 2025, compared to net charge-offs of $0.3 million for the three months ended June 30, 2024 and March 31, 2025. Net charge-offs were $1.2 million for the six months ended June 30, 2025, compared to net charge-offs of $0.6 million for the six months ended June 30, 2024. We recorded a reversal of provision for credit losses on off-balance-sheet credit exposures of $19,000 for the three months ended June 30, 2025, compared to provision for losses on off-balance-sheet credit exposures of $0.4 million and $0.7 million for the three months ended June 30, 2024 and March 31, 2025, respectively. We recorded a provision for losses on off-balance-sheet credit exposures of $0.6 million for the six months ended June 30, 2025, compared to a reversal of provision for credit losses on off-balance-sheet credit exposures of $0.7 million for the six months ended June 30, 2024. The balance of the allowance for off-balance-sheet credit exposures was $3.8 million and $3.2 million at June 30, 2025 and 2024, respectively, and is included in other liabilities. Dividend Southside Bancshares, Inc. declared a second quarter cash dividend of $0.36 per share on May 8, 2025, which was paid on June 5, 2025, to all shareholders of record as of May 22, 2025. _______________ (1)Refer to “Non-GAAP Financial Measures” below and to “Non-GAAP Reconciliation” at the end of the financial statement tables in this Earnings Release for more information and for a reconciliation of this non-GAAP financial measure to the nearest GAAP financial measure. Conference Call Southside's management team will host a conference call to discuss its second quarter ended June 30, 2025 financial results on Friday, July 25, 2025 at 11:00 a.m. CDT. The conference call can be accessed by webcast, for listen-only mode, on the company website, https://investors.southside.com, under Events. Those interested in participating in the question and answer session, or others who prefer to call-in, can register at https://register-conf.media-server.com/register/BIad8374913fda48e3a6a27e230e7c4225 to receive the dial-in number and unique code to access the conference call seamlessly. While not required, it is recommended that those wishing to participate, register 10 minutes prior to the conference call to ensure a more efficient registration process. For those unable to attend the live event, a webcast recording will be available on the company website, https://investors.southside.com, for at least 30 days, beginning approximately two hours following the conference call. Non-GAAP Financial Measures Our accounting and reporting policies conform to generally accepted accounting principles (“GAAP”) in the United States and prevailing practices in the banking industry. However, certain non-GAAP measures are used by management to supplement the evaluation of our performance. These include the following fully taxable-equivalent measures (“FTE”): (i) Net interest income (FTE), (ii) net interest margin (FTE), (iii) net interest spread (FTE), and (iv) efficiency ratio (FTE), which include the effects of taxable-equivalent adjustments using a federal income tax rate of 21% to increase tax-exempt interest income to a tax-equivalent basis. Interest income earned on certain assets is completely or partially exempt from federal income tax. As such, these tax-exempt instruments typically yield lower returns than taxable investments. Net interest income (FTE), net interest margin (FTE) and net interest spread (FTE). Net interest income (FTE) is a non-GAAP measure that adjusts for the tax-favored status of net interest income from certain loans and investments and is not permitted under GAAP in the consolidated statements of income. We believe that this measure is the preferred industry measurement of net interest income and that it enhances comparability of net interest income arising from taxable and tax-exempt sources. The most directly comparable financial measure calculated in accordance with GAAP is our net interest income. Net interest margin (FTE) is the ratio of net interest income (FTE) to average earning assets. The most directly comparable financial measure calculated in accordance with GAAP is our net interest margin. Net interest spread (FTE) is the difference in the average yield on average earning assets on a tax-equivalent basis and the average rate paid on average interest bearing liabilities. The most directly comparable financial measure calculated in accordance with GAAP is our net interest spread. Efficiency ratio (FTE). The efficiency ratio (FTE) is a non-GAAP measure that provides a measure of productivity in the banking industry. This ratio is calculated to measure the cost of generating one dollar of revenue. The ratio is designed to reflect the percentage of one dollar which must be expended to generate that dollar of revenue. We calculate this ratio by dividing noninterest expense, excluding amortization expense on intangibles and certain nonrecurring expense by the sum of net interest income (FTE) and noninterest income, excluding net gain (loss) on sale of securities available for sale and certain nonrecurring impairments. The most directly comparable financial measure calculated in accordance with GAAP is our efficiency ratio. These non-GAAP financial measures should not be considered alternatives to GAAP-basis financial statements and other bank holding companies may define or calculate these non-GAAP measures or similar measures differently. Whenever we present a non-GAAP financial measure in an SEC filing, we are also required to present the most directly comparable financial measure calculated and presented in accordance with GAAP and reconcile the differences between the non-GAAP financial measure and such comparable GAAP measure. Management believes adjusting net interest income, net interest margin and net interest spread to a fully taxable-equivalent basis is a standard practice in the banking industry as these measures provide useful information to make peer comparisons. Tax-equivalent adjustments are reflected in the respective earning asset categories as listed in the “Average Balances with Average Yields and Rates” tables. A reconciliation of our non-GAAP financial measures to the comparable GAAP financial measures is included at the end of the financial statement tables. About Southside Bancshares, Inc. Southside Bancshares, Inc. is a bank holding company with approximately $8.34 billion in assets as of June 30, 2025, that owns 100% of Southside Bank. Southside Bank currently has 53 branches in Texas and operates a network of 71 ATMs/ITMs. To learn more about Southside Bancshares, Inc., please visit our investor relations website at https://investors.southside.com. Our investor relations site provides a detailed overview of our activities, financial information and historical stock price data. To receive email notification of company news, events and stock activity, please register on the website under Resources and Investor Email Alerts. Questions or comments may be directed to Lindsey Bailes at (903) 630-7965, or lindsey.bailes@southside.com. Forward-Looking Statements Certain statements of other than historical fact that are contained in this press release and in other written materials, documents and oral statements issued by or on behalf of the Company may be considered to be “forward-looking statements” within the meaning of and subject to the safe harbor protections of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not guarantees of future performance, nor should they be relied upon as representing management’s views as of any subsequent date. These statements may include words such as “expect,” “estimate,” “project,” “anticipate,” “appear,” “believe,” “could,” “should,” “may,” “might,” “will,” “would,” “seek,” “intend,” “probability,” “risk,” “goal,” “target,” “objective,” “plans,” “potential,” and similar expressions. Forward-looking statements are statements with respect to the Company’s beliefs, plans, expectations, objectives, goals, anticipations, assumptions, estimates, intentions and future performance and are subject to significant known and unknown risks and uncertainties, which could cause the Company's actual results to differ materially from the results discussed in the forward-looking statements. For example, benefits of the Share Repurchase Plan, trends in asset quality, capital, liquidity, the Company's ability to sell nonperforming assets, expense reductions, planned operational efficiencies and earnings from growth and certain market risk disclosures, including the impact of interest rates and our expectations regarding rate changes, tax reform, inflation, tariffs, the impacts related to or resulting from other economic factors are based upon information presently available to management and are dependent on choices about key model characteristics and assumptions and are subject to various limitations. By their nature, certain of the market risk disclosures are only estimates and could be materially different from what actually occurs in the future. Accordingly, our results could materially differ from those that have been estimated. The most significant factor that could cause future results to differ materially from those anticipated by our forward-looking statements include the ongoing impact of higher inflation levels, interest rate fluctuations, including the impact of changes in interest rates on our financial projections, models and guidance, and general economic and recessionary concerns, as well as the effects of declines in the real estate market, tariffs or trade wars (including reduced consumer spending, lower economic growth or recession, reduced demand for U.S. exports, disruptions to supply chains, and decreased demand for other banking products and services), high unemployment and increasing insurance costs, as well as the financial stress to borrowers as a result of the foregoing, all of which could impact economic growth and could cause a reduction in financial transactions and business activities, including decreased deposits and reduced loan originations, and our ability to manage liquidity in a rapidly changing and unpredictable market. Additional information concerning the Company and its business, including additional factors that could materially affect the Company’s financial results, is included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, under “Part I - Item 1. Forward Looking Information” and “Part I - Item 1A. Risk Factors” and in the Company’s other filings with the Securities and Exchange Commission. The Company disclaims any obligation to update any factors or to announce publicly the result of revisions to any of the forward-looking statements included herein to reflect future events or developments. Southside Bancshares, Inc.Consolidated Financial Summary (Unaudited)(Dollars in thousands) As of 2025 2024 Jun 30, Mar 31, Dec 31, Sep 30, Jun 30,ASSETS Cash and due from banks$109,669 $103,359 $91,409 $130,147 $114,283 Interest earning deposits 260,357 293,364 281,945 333,825 272,469 Federal funds sold 20,069 34,248 52,807 22,325 65,244 Securities available for sale, at estimated fair value 1,457,124 1,457,939 1,533,894 1,408,437 1,405,944 Securities held to maturity, at net carrying value 1,272,906 1,278,330 1,279,234 1,288,403 1,305,975 Total securities 2,730,030 2,736,269 2,813,128 2,696,840 2,711,919 Federal Home Loan Bank stock, at cost 24,384 34,208 33,818 40,291 32,991 Loans held for sale 428 903 1,946 768 1,352 Loans 4,601,933 4,567,239 4,661,597 4,578,048 4,589,365 Less: Allowance for loan losses (44,421) (44,623) (44,884) (44,276) (42,407)Net loans 4,557,512 4,522,616 4,616,713 4,533,772 4,546,958 Premises & equipment, net 147,263 142,245 141,648 138,811 138,489 Goodwill 201,116 201,116 201,116 201,116 201,116 Other intangible assets, net 1,333 1,531 1,754 2,003 2,281 Bank owned life insurance 138,826 137,962 138,313 137,489 136,903 Other assets 148,979 135,479 142,851 124,876 133,697 Total assets$8,339,966 $8,343,300 $8,517,448 $8,362,263 $8,357,702 LIABILITIES AND SHAREHOLDERS' EQUITY Noninterest bearing deposits$1,368,453 $1,379,641 $1,357,152 $1,377,022 $1,366,924 Interest bearing deposits 5,263,511 5,211,210 5,297,096 5,058,680 5,129,008 Total deposits 6,631,964 6,590,851 6,654,248 6,435,702 6,495,932 Other borrowings and Federal Home Loan Bank borrowings 611,367 691,417 808,352 865,856 763,700 Subordinated notes, net of unamortized debtissuance costs 92,115 92,078 92,042 92,006 91,970 Trust preferred subordinated debentures, net of unamortized debt issuance costs 60,277 60,276 60,274 60,273 60,272 Other liabilities 137,043 92,055 90,590 103,172 144,858 Total liabilities 7,532,766 7,526,677 7,705,506 7,557,009 7,556,732 Shareholders' equity 807,200 816,623 811,942 805,254 800,970 Total liabilities and shareholders' equity$8,339,966 $8,343,300 $8,517,448 $8,362,263 $8,357,702 Southside Bancshares, Inc.Consolidated Financial Summary (Unaudited)(Dollars in thousands) Three Months Ended 2025 2024 Jun 30, Mar 31, Dec 31, Sep 30, Jun 30,Income Statement: Total interest and dividend income$98,562 $100,288 $101,689 $105,703 $104,186 Total interest expense 44,296 46,436 47,982 50,239 50,578 Net interest income 54,266 53,852 53,707 55,464 53,608 Provision for (reversal of) credit losses 622 758 1,384 2,389 (485)Net interest income after provision for (reversal of) credit losses 53,644 53,094 52,323 53,075 54,093 Noninterest income Deposit services 6,125 5,829 6,084 6,199 6,157 Net gain (loss) on sale of securities available for sale — (554) — (1,929) (563)Gain (loss) on sale of loans 99 55 138 115 220 Trust fees 1,879 1,765 1,773 1,628 1,456 Bank owned life insurance 833 799 848 857 1,767 Brokerage services 1,219 1,120 1,054 1,068 1,081 Other 1,990 1,209 2,384 233 1,439 Total noninterest income 12,145 10,223 12,281 8,171 11,557 Noninterest expense Salaries and employee benefits 22,272 22,382 22,960 22,233 21,984 Net occupancy 3,621 3,404 3,629 3,613 3,750 Advertising, travel & entertainment 950 924 884 734 795 ATM expense 405 378 378 412 368 Professional fees 1,401 1,520 1,645 1,206 1,075 Software and data processing 3,027 2,839 2,931 2,951 2,860 Communications 342 383 320 423 410 FDIC insurance 955 947 931 939 977 Amortization of intangibles 198 223 249 278 307 Other 6,086 4,089 4,232 3,543 3,239 Total noninterest expense 39,257 37,089 38,159 36,332 35,765 Income before income tax expense 26,532 26,228 26,445 24,914 29,885 Income tax expense 4,719 4,721 4,659 4,390 5,212 Net income$21,813 $21,507 $21,786 $20,524 $24,673 Common Share Data: Weighted-average basic shares outstanding 30,234 30,390 30,343 30,286 30,280 Weighted-average diluted shares outstanding 30,308 30,483 30,459 30,370 30,312 Common shares outstanding end of period 30,082 30,410 30,379 30,308 30,261 Earnings per common share Basic$0.72 $0.71 $0.72 $0.68 $0.81 Diluted 0.72 0.71 0.71 0.68 0.81 Book value per common share 26.83 26.85 26.73 26.57 26.47 Tangible book value per common share 20.10 20.19 20.05 19.87 19.75 Cash dividends paid per common share 0.36 0.36 0.36 0.36 0.36 Selected Performance Ratios: Return on average assets 1.07% 1.03% 1.03% 0.98% 1.19%Return on average shareholders’ equity 10.73 10.57 10.54 10.13 12.46 Return on average tangible common equity (1) 14.38 14.14 14.12 13.69 16.90 Average yield on earning assets (FTE) (1) 5.25 5.23 5.24 5.51 5.45 Average rate on interest bearing liabilities 2.98 3.03 3.12 3.28 3.32 Net interest margin (FTE) (1) 2.95 2.86 2.83 2.95 2.87 Net interest spread (FTE) (1) 2.27 2.20 2.12 2.23 2.13 Average earning assets to average interest bearing liabilities 129.33 128.10 129.55 128.51 128.62 Noninterest expense to average total assets 1.92 1.78 1.80 1.73 1.72 Efficiency ratio (FTE) (1) 53.70 55.04 54.00 51.90 52.71 (1)Refer to “Non-GAAP Reconciliation” at the end of the financial statement tables in this Earnings Release for a reconciliation of this non-GAAP financial measure to the nearest GAAP financial measure. Southside Bancshares, Inc.Consolidated Financial Highlights (Unaudited)(Dollars in thousands) Three Months Ended 2025 2024 Jun 30, Mar 31, Dec 31, Sep 30, Jun 30,Nonperforming Assets:$32,909 $32,193 $3,589 $7,656 $6,918 Nonaccrual loans 4,998 4,254 3,185 7,254 6,110 Accruing loans past due more than 90 days — — — — — Restructured loans 27,512 27,505 2 — 145 Other real estate owned 380 388 388 388 648 Repossessed assets 19 46 14 14 15 Asset Quality Ratios: Ratio of nonaccruing loans to: Total loans 0.11% 0.09% 0.07% 0.16% 0.13%Ratio of nonperforming assets to: Total assets 0.39 0.39 0.04 0.09 0.08 Total loans 0.72 0.70 0.08 0.17 0.15 Total loans and OREO 0.72 0.70 0.08 0.17 0.15 Ratio of allowance for loan losses to: Nonaccruing loans 888.78 1,048.97 1,409.23 610.37 694.06 Nonperforming assets 134.98 138.61 1,250.60 578.32 613.00 Total loans 0.97 0.98 0.96 0.97 0.92 Net charge-offs (recoveries) to average loans outstanding 0.08 0.03 0.08 0.04 0.02 Capital Ratios: Shareholders’ equity to total assets 9.68 9.79 9.53 9.63 9.58 Common equity tier 1 capital 13.36 13.44 13.04 13.07 12.72 Tier 1 risk-based capital 14.41 14.49 14.07 14.12 13.76 Total risk-based capital 16.91 17.01 16.49 16.59 16.16 Tier 1 leverage capital 10.03 9.73 9.67 9.61 9.40 Period end tangible equity to period end tangible assets (1) 7.43 7.54 7.33 7.38 7.33 Average shareholders’ equity to average total assets 9.94 9.75 9.76 9.67 9.52 (1)Refer to the “Non-GAAP Reconciliation” at the end of the financial statement tables in this Earnings Release for a reconciliation of this non-GAAP financial measure to the nearest GAAP financial measure. Southside Bancshares, Inc.Consolidated Financial Highlights (Unaudited)(Dollars in thousands) Three Months Ended 2025 2024 Loan Portfolio CompositionJun 30, Mar 31, Dec 31, Sep 30, Jun 30,Real Estate Loans: Construction$470,380 $458,101 $537,827 $585,817 $546,040 1-4 Family Residential 736,108 741,432 740,396 755,406 738,037 Commercial 2,606,072 2,577,229 2,579,735 2,422,612 2,472,771 Commercial Loans 380,612 371,643 363,167 358,854 359,807 Municipal Loans 363,746 371,271 390,968 402,041 416,986 Loans to Individuals 45,015 47,563 49,504 53,318 55,724 Total Loans$4,601,933 $4,567,239 $4,661,597 $4,578,048 $4,589,365 Summary of Changes in Allowances: Allowance for Securities Held to Maturity Balance at beginning of period$64 $— $— $— $— Provision for (reversal of) securities held to maturity (9) 64 — — — Balance at end of period$55 $64 $— $— $— Allowance for Loan Losses Balance at beginning of period$44,623 $44,884 $44,276 $42,407 $43,557 Loans charged-off (1,194) (613) (1,232) (773) (721)Recoveries of loans charged-off 342 310 277 365 444 Net loans (charged-off) recovered (852) (303) (955) (408) (277)Provision for (reversal of) loan losses 650 42 1,563 2,277 (873)Balance at end of period$44,421 $44,623 $44,884 $44,276 $42,407 Allowance for Off-Balance-Sheet Credit Exposures Balance at beginning of period$3,793 $3,141 $3,320 $3,208 $2,820 Provision for (reversal of) off-balance-sheet credit exposures (19) 652 (179) 112 388 Balance at end of period$3,774 $3,793 $3,141 $3,320 $3,208 Total Allowance for Credit Losses$48,250 $48,480 $48,025 $47,596 $45,615 Southside Bancshares, Inc.Consolidated Financial Highlights (Unaudited)(Dollars in thousands) Six Months Ended June 30, 2025 2024 Income Statement: Total interest and dividend income$198,850 $206,944 Total interest expense 90,732 99,988 Net interest income 108,118 106,956 Provision for (reversal of) credit losses 1,380 (427)Net interest income after provision for (reversal of) credit losses 106,738 107,383 Noninterest income Deposit services 11,954 12,142 Net gain (loss) on sale of securities available for sale (554) (581)Gain (loss) on sale of loans 154 (216)Trust fees 3,644 2,792 Bank owned life insurance 1,632 2,551 Brokerage services 2,339 2,095 Other 3,199 2,498 Total noninterest income 22,368 21,281 Noninterest expense Salaries and employee benefits 44,654 45,097 Net occupancy 7,025 7,112 Advertising, travel & entertainment 1,874 1,745 ATM expense 783 693 Professional fees 2,921 2,229 Software and data processing 5,866 5,716 Communications 725 859 FDIC insurance 1,902 1,920 Amortization of intangibles 421 644 Other 10,175 6,631 Total noninterest expense 76,346 72,646 Income before income tax expense 52,760 56,018 Income tax expense 9,440 9,834 Net income$43,320 $46,184 Common Share Data: Weighted-average basic shares outstanding 30,311 30,271 Weighted-average diluted shares outstanding 30,397 30,310 Common shares outstanding end of period 30,082 30,261 Earnings per common share Basic$1.43 $1.52 Diluted 1.42 1.52 Book value per common share 26.83 26.47 Tangible book value per common share 20.10 19.75 Cash dividends paid per common share 0.72 0.72 Selected Performance Ratios: Return on average assets 1.05% 1.11%Return on average shareholders’ equity 10.65 11.74 Return on average tangible common equity (1) 14.26 15.99 Average yield on earning assets (FTE) (1) 5.24 5.42 Average rate on interest bearing liabilities 3.01 3.27 Net interest margin (FTE) (1) 2.91 2.87 Net interest spread (FTE) (1) 2.23 2.15 Average earning assets to average interest bearing liabilities 128.71 128.16 Noninterest expense to average total assets 1.85 1.74 Efficiency ratio (FTE) (1) 54.36 54.11 (1)Refer to “Non-GAAP Reconciliation” at the end of the financial statement tables in this Earnings Release for a reconciliation of this non-GAAP financial measure to the nearest GAAP financial measure. Southside Bancshares, Inc.Consolidated Financial Highlights (Unaudited)(Dollars in thousands) Six Months Ended June 30, 2025 2024 Nonperforming Assets:$32,909 $6,918 Nonaccrual loans 4,998 6,110 Accruing loans past due more than 90 days — — Restructured loans 27,512 145 Other real estate owned 380 648 Repossessed assets 19 15 Asset Quality Ratios: Ratio of nonaccruing loans to: Total loans 0.11% 0.13%Ratio of nonperforming assets to: Total assets 0.39 0.08 Total loans 0.72 0.15 Total loans and OREO 0.72 0.15 Ratio of allowance for loan losses to: Nonaccruing loans 888.78 694.06 Nonperforming assets 134.98 613.00 Total loans 0.97 0.92 Net charge-offs (recoveries) to average loans outstanding 0.05 0.02 Capital Ratios: Shareholders’ equity to total assets 9.68 9.58 Common equity tier 1 capital 13.36 12.72 Tier 1 risk-based capital 14.41 13.76 Total risk-based capital 16.91 16.16 Tier 1 leverage capital 10.03 9.40 Period end tangible equity to period end tangible assets (1) 7.43 7.33 Average shareholders’ equity to average total assets 9.84 9.43 (1) Refer to the “Non-GAAP Reconciliation” at the end of the financial statement tables in this Earnings Release for a reconciliation of this non-GAAP financial measure to the nearest GAAP financial measure. Southside Bancshares, Inc.Consolidated Financial Highlights (Unaudited)(Dollars in thousands) Six Months Ended June 30,Loan Portfolio Composition 2025 2024 Real Estate Loans: Construction$470,380 $546,040 1-4 Family Residential 736,108 738,037 Commercial 2,606,072 2,472,771 Commercial Loans 380,612 359,807 Municipal Loans 363,746 416,986 Loans to Individuals 45,015 55,724 Total Loans$4,601,933 $4,589,365 Summary of Changes in Allowances: Allowance for Securities Held to Maturity Balance at beginning of period$— $— Provision for (reversal of) securities held to maturity 55 — Balance at end of period$55 $— Summary of Changes in Allowances: Allowance for Loan Losses Balance at beginning of period$44,884 $42,674 Loans charged-off (1,807) (1,355)Recoveries of loans charged-off 652 791 Net loans (charged-off) recovered (1,155) (564)Provision for (reversal of) loan losses 692 297 Balance at end of period$44,421 $42,407 Allowance for Off-Balance-Sheet Credit Exposures Balance at beginning of period$3,141 $3,932 Provision for (reversal of) off-balance-sheet credit exposures 633 (724)Balance at end of period$3,774 $3,208 Total Allowance for Credit Losses$48,250 $45,615 The tables that follow show average earning assets and interest bearing liabilities together with the average yield on the earning assets and the average rate of the interest bearing liabilities for the periods presented. The interest and related yields presented are on a fully taxable-equivalent basis and are therefore non-GAAP measures. See “Non-GAAP Financial Measures” and “Non-GAAP Reconciliation” for more information. Southside Bancshares, Inc.Average Balances and Average Yields and Rates (Annualized) (Unaudited)(Dollars in thousands) Three Months Ended June 30, 2025 March 31, 2025 Average Balance Interest Average Yield/Rate (3) Average Balance Interest Average Yield/Rate (3)ASSETS Loans (1)$4,519,668 $67,798 6.02% $4,625,902 $68,160 5.98%Loans held for sale 1,108 16 5.79% 752 11 5.93%Securities: Taxable investment securities (2) 735,669 6,205 3.38% 749,155 6,363 3.44%Tax-exempt investment securities (2) 1,130,903 10,351 3.67% 1,134,590 10,253 3.66%Mortgage-backed and related securities (2) 1,003,887 13,040 5.21% 1,041,038 13,523 5.27%Total securities 2,870,459 29,596 4.14% 2,924,783 30,139 4.18%Federal Home Loan Bank stock, at cost, and equity investments 31,169 524 6.74% 43,285 483 4.53%Interest earning deposits 259,617 2,753 4.25% 319,889 3,370 4.27%Federal funds sold 27,778 308 4.45% 43,813 478 4.42%Total earning assets 7,709,799 100,995 5.25% 7,958,424 102,641 5.23%Cash and due from banks 84,419 89,703 Accrued interest and other assets 452,573 457,948 Less: Allowance for loan losses (44,747) (45,105) Total assets$8,202,044 $8,460,970 LIABILITIES AND SHAREHOLDERS’ EQUITY Savings accounts$596,125 1,451 0.98% $593,953 1,429 0.98%Certificates of deposit 1,407,017 14,905 4.25% 1,336,815 14,406 4.37%Interest bearing demand accounts 3,311,330 21,071 2.55% 3,406,342 21,412 2.55%Total interest bearing deposits 5,314,472 37,427 2.82% 5,337,110 37,247 2.83%Federal Home Loan Bank borrowings 394,119 3,721 3.79% 614,897 5,837 3.85%Subordinated notes, net of unamortized debt issuance costs 92,097 935 4.07% 92,060 932 4.11%Trust preferred subordinated debentures, net of unamortized debt issuance costs 60,276 1,015 6.75% 60,275 1,014 6.82%Repurchase agreements 72,295 634 3.52% 75,291 666 3.59%Other borrowings 28,022 564 8.07% 33,061 740 9.08%Total interest bearing liabilities 5,961,281 44,296 2.98% 6,212,694 46,436 3.03%Noninterest bearing deposits 1,339,463 1,334,933 Accrued expenses and other liabilities 85,827 88,450 Total liabilities 7,386,571 7,636,077 Shareholders’ equity 815,473 824,893 Total liabilities and shareholders’ equity$8,202,044 $8,460,970 Net interest income (FTE) $56,699 $56,205 Net interest margin (FTE) 2.95% 2.86%Net interest spread (FTE) 2.27% 2.20% (1)Interest on loans includes net fees on loans that are not material in amount.(2)For the purpose of calculating the average yield, the average balance of securities do not include unrealized gains and losses on AFS securities.(3)Yield/rate includes the impact of applicable derivatives. Note: As of June 30, 2025 and March 31, 2025, loans totaling $5.0 million and $4.3 million, respectively, were on nonaccrual status. Our policy is to reverse previously accrued but unpaid interest on nonaccrual loans; thereafter, interest income is recorded to the extent received when appropriate. Southside Bancshares, Inc.Average Balances and Average Yields and Rates (Annualized) (Unaudited)(Dollars in thousands) Three Months Ended December 31, 2024 September 30, 2024 Average Balance Interest Average Yield/Rate (3) Average Balance Interest Average Yield/Rate (3)ASSETS Loans (1)$4,604,175 $70,155 6.06% $4,613,028 $72,493 6.25%Loans held for sale 1,562 23 5.86% 871 11 5.02%Securities: Taxable investment securities (2) 784,321 6,949 3.52% 791,914 7,150 3.59%Tax-exempt investment securities (2) 1,138,271 10,793 3.77% 1,174,445 11,825 4.01%Mortgage-backed and related securities (2) 1,031,187 12,043 4.65% 886,325 11,976 5.38%Total securities 2,953,779 29,785 4.01% 2,852,684 30,951 4.32%Federal Home Loan Bank stock, at cost, and equity investments 37,078 591 6.34% 41,159 582 5.63%Interest earning deposits 273,656 3,160 4.59% 281,313 3,798 5.37%Federal funds sold 43,121 508 4.69% 33,971 488 5.71%Total earning assets 7,913,371 104,222 5.24% 7,823,026 108,323 5.51%Cash and due from banks 102,914 100,578 Accrued interest and other assets 454,387 455,091 Less: Allowance for loan losses (44,418) (42,581) Total assets$8,426,254 $8,336,114 LIABILITIES AND SHAREHOLDERS’ EQUITY Savings accounts$594,196 1,456 0.97% $598,116 1,490 0.99%Certificates of deposit 1,187,800 13,537 4.53% 1,087,613 12,647 4.63%Interest bearing demand accounts 3,459,122 23,468 2.70% 3,409,911 24,395 2.85%Total interest bearing deposits 5,241,118 38,461 2.92% 5,095,640 38,532 3.01%Federal Home Loan Bank borrowings 572,993 5,557 3.86% 618,708 6,488 4.17%Subordinated notes, net of unamortized debt issuance costs 92,024 945 4.09% 91,988 937 4.05%Trust preferred subordinated debentures, net of unamortized debt issuance costs 60,274 1,095 7.23% 60,273 1,180 7.79%Repurchase agreements 80,891 782 3.85% 83,297 899 4.29%Other borrowings 61,196 1,142 7.42% 137,482 2,203 6.37%Total interest bearing liabilities 6,108,496 47,982 3.12% 6,087,388 50,239 3.28%Noninterest bearing deposits 1,383,204 1,344,165 Accrued expenses and other liabilities 112,320 98,331 Total liabilities 7,604,020 7,529,884 Shareholders’ equity 822,234 806,230 Total liabilities and shareholders’ equity$8,426,254 $8,336,114 Net interest income (FTE) $56,240 $58,084 Net interest margin (FTE) 2.83% 2.95%Net interest spread (FTE) 2.12% 2.23% (1)Interest on loans includes net fees on loans that are not material in amount.(2)For the purpose of calculating the average yield, the average balance of securities do not include unrealized gains and losses on AFS securities.(3)Yield/rate includes the impact of applicable derivatives. Note: As of December 31, 2024 and September 30, 2024, loans totaling $3.2 million and $7.3 million, respectively, were on nonaccrual status. Our policy is to reverse previously accrued but unpaid interest on nonaccrual loans; thereafter, interest income is recorded to the extent received when appropriate. Southside Bancshares, Inc.Average Balances and Average Yields and Rates (Annualized) (Unaudited)(Dollars in thousands) Three Months Ended June 30, 2024 Average Balance Interest Average Yield/Rate (3)ASSETS Loans (1) $4,595,980 $70,293 6.15%Loans held for sale 1,489 24 6.48%Securities: Taxable investment securities (2) 783,856 7,009 3.60%Tax-exempt investment securities (2) 1,254,097 12,761 4.09%Mortgage-backed and related securities (2) 830,504 11,084 5.37%Total securities 2,868,457 30,854 4.33%Federal Home Loan Bank stock, at cost, and equity investments 40,467 573 5.69%Interest earning deposits 300,047 4,105 5.50%Federal funds sold 75,479 1,021 5.44%Total earning assets 7,881,919 106,870 5.45%Cash and due from banks 110,102 Accrued interest and other assets 424,323 Less: Allowance for loan losses (43,738) Total assets$8,372,606 LIABILITIES AND SHAREHOLDERS’ EQUITY Savings accounts$604,753 1,454 0.97%Certificates of deposit 1,020,099 11,630 4.59%Interest bearing demand accounts 3,513,068 25,382 2.91%Total interest bearing deposits 5,137,920 38,466 3.01%Federal Home Loan Bank borrowings 606,851 6,455 4.28%Subordinated notes, net of unamortized debt issuance costs 92,017 936 4.09%Trust preferred subordinated debentures, net of unamortized debt issuance costs 60,271 1,171 7.81%Repurchase agreements 88,007 955 4.36%Other borrowings 143,169 2,595 7.29%Total interest bearing liabilities 6,128,235 50,578 3.32%Noninterest bearing deposits 1,346,274 Accrued expenses and other liabilities 101,399 Total liabilities 7,575,908 Shareholders’ equity 796,698 Total liabilities and shareholders’ equity$8,372,606 Net interest income (FTE) $56,292 Net interest margin (FTE) 2.87%Net interest spread (FTE) 2.13% (1)Interest on loans includes net fees on loans that are not material in amount.(2)For the purpose of calculating the average yield, the average balance of securities do not include unrealized gains and losses on AFS securities.(3)Yield/rate includes the impact of applicable derivatives. Note: As of June 30, 2024, loans totaling $6.1 million were on nonaccrual status. Our policy is to reverse previously accrued but unpaid interest on nonaccrual loans; thereafter, interest income is recorded to the extent received when appropriate. Southside Bancshares, Inc.Average Balances and Average Yields and Rates (Annualized) (Unaudited)(Dollars in thousands) Six Months Ended June 30, 2025 June 30, 2024 Average Balance Interest Average Yield/Rate Average Balance Interest Average Yield/RateASSETS Loans (1)$4,572,492 $135,958 6.00% $4,577,791 $139,142 6.11%Loans held for sale 931 27 5.85% 5,162 42 1.64%Securities: Taxable investment securities (2) 742,375 12,568 3.41% 782,139 13,976 3.59%Tax-exempt investment securities (2) 1,132,736 20,604 3.67% 1,270,010 25,929 4.11%Mortgage-backed and related securities (2) 1,022,360 26,563 5.24% 797,608 21,203 5.35%Total securities 2,897,471 59,735 4.16% 2,849,757 61,108 4.31%Federal Home Loan Bank stock, at cost, and equity investments 37,194 1,007 5.46% 40,265 906 4.52%Interest earning deposits 289,586 6,123 4.26% 340,114 9,307 5.50%Federal funds sold 35,751 786 4.43% 69,039 1,859 5.41%Total earning assets 7,833,425 203,636 5.24% 7,882,128 212,364 5.42%Cash and due from banks 87,046 112,241 Accrued interest and other assets 455,245 432,904 Less: Allowance for loan losses (44,925) (43,356) Total assets$8,330,791 $8,383,917 LIABILITIES AND SHAREHOLDERS’ EQUITY Savings accounts$595,045 2,880 0.98% $604,641 2,878 0.96%Certificates of deposit 1,372,110 29,311 4.31% 981,023 21,971 4.50%Interest bearing demand accounts 3,358,573 42,483 2.55% 3,574,001 51,815 2.92%Total interest bearing deposits 5,325,728 74,674 2.83% 5,159,665 76,664 2.99%Federal Home Loan Bank borrowings 503,898 9,558 3.83% 606,942 12,405 4.11%Subordinated notes, net of unamortized debt issuance costs 92,079 1,867 4.09% 92,956 1,892 4.09%Trust preferred subordinated debentures, net of unamortized debt issuance costs 60,275 2,029 6.79% 60,271 2,346 7.83%Repurchase agreements 73,785 1,300 3.55% 90,092 1,922 4.29%Other borrowings 30,528 1,304 8.61% 140,228 4,759 6.82%Total interest bearing liabilities 6,086,293 90,732 3.01% 6,150,154 99,988 3.27%Noninterest bearing deposits 1,337,210 1,342,329 Accrued expenses and other liabilities 87,131 100,558 Total liabilities 7,510,634 7,593,041 Shareholders’ equity 820,157 790,876 Total liabilities and shareholders’ equity$8,330,791 $8,383,917 Net interest income (FTE) $112,904 $112,376 Net interest margin (FTE) 2.91% 2.87%Net interest spread (FTE) 2.23% 2.15% (1)Interest on loans includes net fees on loans that are not material in amount.(2)For the purpose of calculating the average yield, the average balance of securities is presented at historical cost. Note: As of June 30, 2025 and 2024, loans totaling $5.0 million and $6.1 million, respectively, were on nonaccrual status. Our policy is to reverse previously accrued but unpaid interest on nonaccrual loans; thereafter, interest income is recorded to the extent received when appropriate. The following tables set forth the reconciliation of return on average common equity to return on average tangible common equity, book value per share to tangible book value per share, net interest income to net interest income adjusted to a fully taxable-equivalent basis assuming a 21% marginal tax rate for interest earned on tax-exempt assets such as municipal loans and investment securities, along with the calculation of total revenue, adjusted noninterest expense, efficiency ratio (FTE), net interest margin (FTE) and net interest spread (FTE) for the applicable periods presented. Southside Bancshares, Inc.Non-GAAP Reconciliation (Unaudited)(Dollars and shares in thousands, except per share data) Three Months Ended Six Months Ended 2025 2024 2025 2024 Jun 30, Mar 31, Dec 31, Sep 30, Jun 30, Jun 30, Jun 30,Reconciliation of return on average common equity to return on average tangible common equity: Net income $21,813 $21,507 $21,786 $20,524 $24,673 $43,320 $46,184 After-tax amortization expense 157 176 196 220 243 333 509 Adjusted net income available to common shareholders $21,970 $21,683 $21,982 $20,744 $24,916 $43,653 $46,693 Average shareholders' equity $815,473 $824,893 $822,234 $806,230 $796,698 $820,157 $790,876 Less: Average intangibles for the period (202,569) (202,784) (203,020) (203,288) (203,581) (202,676) (203,745)Average tangible shareholders' equity $612,904 $622,109 $619,214 $602,942 $593,117 $617,481 $587,131 Return on average tangible common equity 14.38% 14.14% 14.12% 13.69% 16.90% 14.26% 15.99% Reconciliation of book value per share to tangible book value per share: Common equity at end of period $807,200 $816,623 $811,942 $805,254 $800,970 $807,200 $800,970 Less: Intangible assets at end of period (202,449) (202,647) (202,870) (203,119) (203,397) (202,449) (203,397)Tangible common shareholders' equity at end of period $604,751 $613,976 $609,072 $602,135 $597,573 $604,751 $597,573 Total assets at end of period $8,339,966 $8,343,300 $8,517,448 $8,362,263 $8,357,702 $8,339,966 $8,357,702 Less: Intangible assets at end of period (202,449) (202,647) (202,870) (203,119) (203,397) (202,449) (203,397)Tangible assets at end of period $8,137,517 $8,140,653 $8,314,578 $8,159,144 $8,154,305 $8,137,517 $8,154,305 Period end tangible equity to period end tangible assets 7.43% 7.54% 7.33% 7.38% 7.33% 7.43% 7.33% Common shares outstanding end of period 30,082 30,410 30,379 30,308 30,261 30,082 30,261 Tangible book value per common share $20.10 $20.19 $20.05 $19.87 $19.75 $20.10 $19.75 Reconciliation of efficiency ratio to efficiency ratio (FTE), net interest margin to net interest margin (FTE) and net interest spread to net interest spread (FTE): Net interest income (GAAP) $54,266 $53,852 $53,707 $55,464 $53,608 $108,118 $106,956 Tax-equivalent adjustments: Loans 565 581 598 608 633 1,146 1,289 Tax-exempt investment securities 1,868 1,772 1,935 2,012 2,051 3,640 4,131 Net interest income (FTE) (1) 56,699 56,205 56,240 58,084 56,292 112,904 112,376 Noninterest income 12,145 10,223 12,281 8,171 11,557 22,368 21,281 Nonrecurring income (2) — 554 (25) 2,797 (576) 554 (558)Total revenue $68,844 $66,982 $68,496 $69,052 $67,273 $135,826 $133,099 Noninterest expense $39,257 $37,089 $38,159 $36,332 $35,765 $76,346 $72,646 Pre-tax amortization expense (198) (223) (249) (278) (307) (421) (644)Nonrecurring expense (3) (2,090) (1) (919) (219) 2 (2,091) 19 Adjusted noninterest expense $36,969 $36,865 $36,991 $35,835 $35,460 $73,834 $72,021 Efficiency ratio 55.67% 57.04% 56.08% 53.94% 54.90% 56.34% 56.41%Efficiency ratio (FTE) (1) 53.70% 55.04% 54.00% 51.90% 52.71% 54.36% 54.11% Average earning assets $7,709,799 $7,958,424 $7,913,371 $7,823,026 $7,881,919 $7,833,425 $7,882,128 Net interest margin 2.82% 2.74% 2.70% 2.82% 2.74% 2.78% 2.73%Net interest margin (FTE) (1) 2.95% 2.86% 2.83% 2.95% 2.87% 2.91% 2.87% Net interest spread 2.15% 2.08% 1.99% 2.10% 2.00% 2.11% 2.01%Net interest spread (FTE) (1) 2.27% 2.20% 2.12% 2.23% 2.13% 2.23% 2.15% (1)These amounts are presented on a fully taxable-equivalent basis and are non-GAAP measures.(2)These adjustments may include net gain or loss on sale of securities available for sale, BOLI income related to death benefits realized and other investment income or loss in the periods where applicable.(3)These adjustments may include foreclosure expenses, branch closure expenses and other miscellaneous expense, in the periods where applicable.

Southside Bancshares, Inc. Announces Financial Results for the Second Quarter Ended June 30, 2025

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