SBSI FY 2016 Earnings Report — Southside Bancshares, Inc. Revenue & Financial Results | Market Cap Arena

Southside Bancshares, Inc.SBSI

FY 2016 Earnings

Reported February 24, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2016	Prior Q	FY 2015	QoQ Change	YoY Change
Revenue	$205M	—	$189M	—	8.4%
Op. Income	$60M	—	$51M	—	16.4%
Gross Margin	80.9%	—	85.1%	—	-4.2pp
Net Margin	24.1%	—	23.2%	—	0.8pp
EPS (Diluted)	$1.81	—	$1.61	—	12.4%
Free Cash Flow	$80M	—	$69M	—	15.8%

Revenue Flow

Item	Amount
REVENUE	$205M
Cost of Revenue	$39M
GROSS PROFIT	$166M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$69M
SG&A Expenses	$71M
Other Expenses	$35M
Operating Expenses	$106M
Cost & Expenses	$146M
OPERATING INCOME	$60M
Interest Income	$169M
Interest Expense	$29M
Other Income/Expenses	$0
INCOME BEFORE TAX	$60M
Income Tax Expense	$10M
Net Income from Continuing Ops	$49M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$49M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$49M
D&A	$9M
EBIT	$60M
EBITDA	$69M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$205M
Cost of Revenue	$39M
GROSS PROFIT	$166M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$69M
SG&A Expenses	$71M
Other Expenses	$35M
Operating Expenses	$106M
Cost & Expenses	$146M
OPERATING INCOME	$60M
Interest Income	$169M
Interest Expense	$29M
Other Income/Expenses	$0
INCOME BEFORE TAX	$60M
Income Tax Expense	$10M
Net Income from Continuing Ops	$49M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$49M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$49M
D&A	$9M
EBIT	$60M
EBITDA	$69M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$49M
Depreciation & Amortization	$9M
Stock-Based Compensation	$2M
Deferred Income Tax	$2M
Other Non-Cash Items	$20M
Change in Working Capital	$5M
OPERATING CASH FLOW	$87M
Capital Expenditure	-$7M
Acquisitions (Net)	$0
Purchases of Investments	-$1.0B
Sales/Maturities of Investments	$812M
Other Investing Activities	-$143M
NET CASH FROM INVESTING	-$384M
Net Debt Issuance	$260M
Common Stock Repurchased	-$10M
Common Dividends Paid	-$26M
Other Financing Activities	$85M
NET CASH FROM FINANCING	$386M
FREE CASH FLOW	$80M
Net Change in Cash	$89M

Balance Sheet

Item	Amount
Cash & Equivalents	$162M
Short-Term Investments	$1.5B
Net Receivables	$25M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.7B
PP&E (Net)	$106M
Goodwill	$92M
Intangible Assets	$5M
Long-Term Investments	$3.5B
Tax Assets	$29M
Other Non-Current Assets	$177M
TOTAL NON-CURRENT ASSETS	$3.9B
TOTAL ASSETS	$5.6B
Account Payables	$0
Short-Term Debt	$874M
Deferred Revenue	$0
Other Current Liabilities	$3.5B
TOTAL CURRENT LIABILITIES	$4.4B
Long-Term Debt	$1.5B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	-$829M
TOTAL NON-CURRENT LIABILITIES	$639M
TOTAL LIABILITIES	$5.0B
Common Stock	$39M
Additional Paid-In Capital	$535M
Retained Earnings	$30M
Treasury Stock	-$48M
Accum. Other Comp. Income	-$38M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$518M
Minority Interest	$0
TOTAL EQUITY	$518M
TOTAL LIABILITIES & EQUITY	$5.6B
Total Debt	$2.3B
Net Debt	$2.2B