SBSI FY 2021 Earnings Report — Southside Bancshares, Inc. Revenue & Financial Results | Market Cap Arena

Southside Bancshares, Inc.SBSI

FY 2021 Earnings

Reported February 25, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$265M	—	$282M	—	-5.8%
Op. Income	$131M	—	$93M	—	39.9%
Gross Margin	96.4%	—	77.0%	—	19.4pp
Net Margin	42.7%	—	29.2%	—	13.6pp
EPS (Diluted)	$3.47	—	$2.47	—	40.5%
Free Cash Flow	$148M	—	$79M	—	86.8%

Revenue Flow

Item	Amount
REVENUE	$265M
Cost of Revenue	$9M
GROSS PROFIT	$256M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$82M
SG&A Expenses	$84M
Other Expenses	$41M
Operating Expenses	$125M
Cost & Expenses	$134M
OPERATING INCOME	$131M
Interest Income	$216M
Interest Expense	$26M
Other Income/Expenses	$0
INCOME BEFORE TAX	$131M
Income Tax Expense	$17M
Net Income from Continuing Ops	$113M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$113M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$113M
D&A	$11M
EBIT	$131M
EBITDA	$142M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$265M
Cost of Revenue	$9M
GROSS PROFIT	$256M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$82M
SG&A Expenses	$84M
Other Expenses	$41M
Operating Expenses	$125M
Cost & Expenses	$134M
OPERATING INCOME	$131M
Interest Income	$216M
Interest Expense	$26M
Other Income/Expenses	$0
INCOME BEFORE TAX	$131M
Income Tax Expense	$17M
Net Income from Continuing Ops	$113M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$113M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$113M
D&A	$11M
EBIT	$131M
EBITDA	$142M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$113M
Depreciation & Amortization	$11M
Stock-Based Compensation	$3M
Deferred Income Tax	$5M
Other Non-Cash Items	$4M
Change in Working Capital	$19M
OPERATING CASH FLOW	$156M
Capital Expenditure	-$8M
Acquisitions (Net)	$0
Purchases of Investments	-$693M
Sales/Maturities of Investments	$494M
Other Investing Activities	$13M
NET CASH FROM INVESTING	-$194M
Net Debt Issuance	-$589M
Common Stock Repurchased	-$34M
Common Dividends Paid	-$45M
Other Financing Activities	$797M
NET CASH FROM FINANCING	$131M
FREE CASH FLOW	$148M
Net Change in Cash	$93M

Balance Sheet

Item	Amount
Cash & Equivalents	$202M
Short-Term Investments	$2.8B
Net Receivables	$39M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$3.0B
PP&E (Net)	$158M
Goodwill	$201M
Intangible Assets	$7M
Long-Term Investments	$3.7B
Tax Assets	$0
Other Non-Current Assets	$175M
TOTAL NON-CURRENT ASSETS	$4.3B
TOTAL ASSETS	$7.3B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$5.7B
TOTAL CURRENT LIABILITIES	$5.7B
Long-Term Debt	$526M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$18M
Other Non-Current Liabilities	$65M
TOTAL NON-CURRENT LIABILITIES	$625M
TOTAL LIABILITIES	$6.3B
Common Stock	$47M
Additional Paid-In Capital	$781M
Retained Earnings	$180M
Treasury Stock	-$155M
Accum. Other Comp. Income	$60M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$912M
Minority Interest	$0
TOTAL EQUITY	$912M
TOTAL LIABILITIES & EQUITY	$7.3B
Total Debt	$543M
Net Debt	$341M