SBSI Q4 2021 Earnings Report — Southside Bancshares, Inc. Revenue & Financial Results | Market Cap Arena

Southside Bancshares, Inc.SBSI

Q4 2021 Earnings

Reported February 25, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q4 2021	Q3 2021	Q4 2020	QoQ Change	YoY Change
Revenue	$66M	$68M	$68M	-1.6%	-1.6%
Op. Income	$33M	$34M	$34M	-2.3%	-1.0%
Gross Margin	97.1%	97.3%	96.1%	-0.3pp	1.0pp
Net Margin	43.2%	43.4%	43.8%	-0.2pp	-0.6pp
EPS (Diluted)	$0.88	$0.90	$0.89	-2.2%	-1.1%
Free Cash Flow	$26M	$46M	$39M	-44.9%	-34.5%

Revenue Flow

Item	Amount
REVENUE	$66M
Cost of Revenue	$2M
GROSS PROFIT	$64M
R&D Expenses	$0
Selling & Marketing	$876.0K
General & Administrative	$23M
SG&A Expenses	$23M
Other Expenses	$8M
Operating Expenses	$31M
Cost & Expenses	$33M
OPERATING INCOME	$33M
Interest Income	$55M
Interest Expense	$5M
Other Income/Expenses	$0
INCOME BEFORE TAX	$33M
Income Tax Expense	$5M
Net Income from Continuing Ops	$29M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$29M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$29M
D&A	$3M
EBIT	$33M
EBITDA	$36M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$66M
Cost of Revenue	$2M
GROSS PROFIT	$64M
R&D Expenses	$0
Selling & Marketing	$876.0K
General & Administrative	$23M
SG&A Expenses	$23M
Other Expenses	$8M
Operating Expenses	$31M
Cost & Expenses	$33M
OPERATING INCOME	$33M
Interest Income	$55M
Interest Expense	$5M
Other Income/Expenses	$0
INCOME BEFORE TAX	$33M
Income Tax Expense	$5M
Net Income from Continuing Ops	$29M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$29M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$29M
D&A	$3M
EBIT	$33M
EBITDA	$36M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$29M
Depreciation & Amortization	$3M
Stock-Based Compensation	$831.0K
Deferred Income Tax	$1M
Other Non-Cash Items	$459.0K
Change in Working Capital	-$6M
OPERATING CASH FLOW	$27M
Capital Expenditure	-$2M
Acquisitions (Net)	$0
Purchases of Investments	-$123M
Sales/Maturities of Investments	$129M
Other Investing Activities	$15M
NET CASH FROM INVESTING	$20M
Net Debt Issuance	-$313M
Common Stock Repurchased	$0
Common Dividends Paid	-$13M
Other Financing Activities	$392M
NET CASH FROM FINANCING	$67M
FREE CASH FLOW	$26M
Net Change in Cash	$115M

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