SBSI FY 2015 Earnings Report — Southside Bancshares, Inc. Revenue & Financial Results | Market Cap Arena

Southside Bancshares, Inc.SBSI

FY 2015 Earnings

Reported March 8, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2015	Prior Q	FY 2014	QoQ Change	YoY Change
Revenue	$189M	—	$147M	—	28.9%
Op. Income	$51M	—	$19M	—	174.7%
Gross Margin	85.1%	—	78.3%	—	6.8pp
Net Margin	23.2%	—	14.2%	—	9.1pp
EPS (Diluted)	$1.61	—	$0.97	—	66.0%
Free Cash Flow	$69M	—	$51M	—	36.1%

Revenue Flow

Item	Amount
REVENUE	$189M
Cost of Revenue	$28M
GROSS PROFIT	$161M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$71M
SG&A Expenses	$74M
Other Expenses	$36M
Operating Expenses	$110M
Cost & Expenses	$138M
OPERATING INCOME	$51M
Interest Income	$155M
Interest Expense	$20M
Other Income/Expenses	$0
INCOME BEFORE TAX	$51M
Income Tax Expense	$7M
Net Income from Continuing Ops	$44M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$44M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$44M
D&A	$9M
EBIT	$51M
EBITDA	$60M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$189M
Cost of Revenue	$28M
GROSS PROFIT	$161M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$71M
SG&A Expenses	$74M
Other Expenses	$36M
Operating Expenses	$110M
Cost & Expenses	$138M
OPERATING INCOME	$51M
Interest Income	$155M
Interest Expense	$20M
Other Income/Expenses	$0
INCOME BEFORE TAX	$51M
Income Tax Expense	$7M
Net Income from Continuing Ops	$44M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$44M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$44M
D&A	$9M
EBIT	$51M
EBITDA	$60M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$44M
Depreciation & Amortization	$9M
Stock-Based Compensation	$1M
Deferred Income Tax	-$3M
Other Non-Cash Items	$24M
Change in Working Capital	-$2M
OPERATING CASH FLOW	$73M
Capital Expenditure	-$4M
Acquisitions (Net)	$0
Purchases of Investments	-$1.1B
Sales/Maturities of Investments	$962M
Other Investing Activities	-$260M
NET CASH FROM INVESTING	-$384M
Net Debt Issuance	$251M
Common Stock Repurchased	$0
Common Dividends Paid	-$25M
Other Financing Activities	$81M
NET CASH FROM FINANCING	$308M
FREE CASH FLOW	$69M
Net Change in Cash	-$4M

Balance Sheet

Item	Amount
Cash & Equivalents	$81M
Short-Term Investments	$1.5B
Net Receivables	$23M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.6B
PP&E (Net)	$108M
Goodwill	$92M
Intangible Assets	$7M
Long-Term Investments	$3.2B
Tax Assets	$20M
Other Non-Current Assets	$166M
TOTAL NON-CURRENT ASSETS	$3.6B
TOTAL ASSETS	$5.2B
Account Payables	$0
Short-Term Debt	$645M
Deferred Revenue	$0
Other Current Liabilities	$3.5B
TOTAL CURRENT LIABILITIES	$4.1B
Long-Term Debt	$563M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$52M
TOTAL NON-CURRENT LIABILITIES	$615M
TOTAL LIABILITIES	$4.7B
Common Stock	$35M
Additional Paid-In Capital	$424M
Retained Earnings	$42M
Treasury Stock	-$38M
Accum. Other Comp. Income	-$19M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$444M
Minority Interest	$0
TOTAL EQUITY	$444M
TOTAL LIABILITIES & EQUITY	$5.2B
Total Debt	$1.2B
Net Debt	$1.1B