UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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): August 6, 2007
Southside Bancshares, Inc.
(Exact name of registrant as specified in its charter)
Texas 0-12247 75-1848732
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification Number)
1201 S. Beckham, Tyler, Texas 75701
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (903) 531-7111
NA
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
|_| Written communications pursuant to Rule 425 under Securities Act (17 CFR
230-425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240-14a-12)
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under Exchange
Act (17 CFR 240.13e-4(c))
ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION.
On August 6, 2007, Southside Bancshares, Inc. issued a press release
announcing financial results for the three and six months ended June 30, 2007,
reporting earnings of $4.6 million and $8.4 million, respectively, and diluted
earnings per common share of $0.34 and $0.62, respectively. A copy of the press
release is attached as Exhibit 99.1 hereto and is hereby incorporated herein by
reference. 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.
The information in this Current Report on Form 8-K, including the attached
exhibit, is being furnished as provided in General Instruction B.2 to Form 8-K,
to the Securities and Exchange Commission and shall not be deemed to be "filed"
for purposes of Section 18 of the Securities and Exchange Act of 1934, as
amended, or otherwise subject to the liabilities of that section. Furthermore
the information contained in this Current Report on Form 8-K shall not be deemed
to be incorporated by reference in any filing with the Securities and Exchange
Commission, except as shall be expressly provided by specific reference in such
filing.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS
(D) Exhibits. The following materials are furnished as exhibits to this Current
Report on Form 8-K:
Exhibit
Number Description of Exhibit
99.1 Press release dated August 6, 2007
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: August 6, 2007 By: /s/ Lee R. Gibson
--------------------------------
Lee R. Gibson, CPA
Executive Vice President and
Chief Financial Officer