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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): APRIL 21, 2005
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))
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ITEM 2.02. RESULTS OF OPERATION AND FINANCIAL CONDITION.
On April 21, 2005, Southside Bancshares, Inc. issued a press release
announcing financial results for the first quarter ended March 31, 2005,
reporting earnings of $3.6 million and diluted earnings per common share of
$0.30. 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
(C) Exhibits. The following materials are furnished as exhibits to this
Current Report on Form 8-K:
Exhibit
Number Description of Exhibit
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99.1 Press release dated April 21, 2005
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 22, 2005 By: /s/ Lee R. Gibson
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Lee R. Gibson
Executive Vice President and
Chief Financial Officer