XML 36 R27.htm IDEA: XBRL DOCUMENT
v3.22.2

Long-term Debt (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2022
Debt Disclosure [Abstract] |
Schedule of Long-term Debt Instruments | Information related to our long-term debt is summarized as follows for the periods presented (in thousands):
| June 30, 2022 |  | December 31, 2021
Subordinated notes: (1) |  |  |
3.875% Subordinated notes, net of unamortized debt issuance costs (2) | $ | 98,604 |  |  | $ | 98,534 |
Total Subordinated notes | 98,604 |  |  | 98,534 |
Trust preferred subordinated debentures: (3) |  |  |
Southside Statutory Trust III, net of unamortized debt issuance costs (4) | 20,570 |  |  | 20,568 |
Southside Statutory Trust IV | 23,196 |  |  | 23,196 |
Southside Statutory Trust V | 12,887 |  |  | 12,887 |
Magnolia Trust Company I | 3,609 |  |  | 3,609 |
Total Trust preferred subordinated debentures | 60,262 |  |  | 60,260 |
Total Long-term debt | $ | 158,866 |  |  | $ | 158,794 |
(1)This debt consists of subordinated notes with a remaining maturity greater than one year that qualify under the risk-based capital guidelines as Tier 2 capital, subject to certain limitations. (2)The unamortized discount and debt issuance costs reflected in the carrying amount of the subordinated notes totaled approximately $1.4 million at June 30, 2022 and $1.5 million at December 31, 2021. (3)This debt consists of trust preferred securities that qualify under the risk-based capital guidelines as Tier 1 capital, subject to certain limitations. (4)The unamortized debt issuance costs reflected in the carrying amount of the Southside Statutory Trust III junior subordinated debentures totaled $49,000 at June 30, 2022 and $51,000 at December 31, 2021.
Schedule of Subordinated Borrowing | As of June 30, 2022, the details of the subordinated notes and the trust preferred subordinated debentures are summarized below (dollars in thousands):
| Date Issued |  | Amount Issued |  | Fixed or Floating Rate |  | Interest Rate |  | Maturity Date
3.875% Subordinated Notes | November 6, 2020 |  | $ | 100,000 |  |  | Fixed-to-Floating |  | 3.875% |  | November 15, 2030
Southside Statutory Trust III | September 4, 2003 |  | $ | 20,619 |  |  | Floating |  | 3 month LIBOR + 2.94% |  | September 4, 2033
Southside Statutory Trust IV | August 8, 2007 |  | $ | 23,196 |  |  | Floating |  | 3 month LIBOR + 1.30% |  | October 30, 2037
Southside Statutory Trust V | August 10, 2007 |  | $ | 12,887 |  |  | Floating |  | 3 month LIBOR + 2.25% |  | September 15, 2037
Magnolia Trust Company I (1) | May 20, 2005 |  | $ | 3,609 |  |  | Floating |  | 3 month LIBOR + 1.80% |  | November 23, 2035
(1)On October 10, 2007, as part of an acquisition we assumed $3.6 million of floating rate junior subordinated debentures issued in 2005 to Magnolia Trust Company I.

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI https://asc.fasb.org/extlink&oid=124435984&loc=d3e28541-108399 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21506-112644 Reference 5: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 55 -Paragraph 69B -URI https://asc.fasb.org/extlink&oid=123466577&loc=SL123495735-112612 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=124435984&loc=d3e28551-108399 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 55 -Paragraph 69E -URI https://asc.fasb.org/extlink&oid=123466577&loc=SL123495743-112612 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 7 -URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21521-112644 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21538-112644 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=123599511&loc=d3e64711-112823 Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI https://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400 Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21475-112644 + Details
Name: | us-gaap_ScheduleOfDebtInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of borrowings under subordinated debt agreements that qualify as available in computing net capital under SEC uniform net capital rules for broker-dealers, including restrictive covenants, collateral, interest rates and due dates, amounts due by date and amount owed in total. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 45 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=6479118&loc=d3e64650-112822 + Details
Name: | us-gaap_ScheduleOfSubordinatedBorrowingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration