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EMPLOYEE BENEFITS (Tables)

12 Months Ended

Dec. 31, 2023

Employee Benefits Including Defined Benefit Plans and Share-based Compensation Plans [Abstract]

Schedule of changes in projected benefit obligation and fair value of plan assets

Activity in our defined benefit pension plans and restoration plan were as follows (in thousands):

						Years Ended December 31,
						2023																		2022																		2021
						Retirement Plan						Acquired Retirement Plan						Restoration Plan						Retirement Plan						Acquired Retirement Plan						Restoration Plan						Retirement Plan						Acquired Retirement Plan						Restoration Plan
						(in thousands)
Change in Projected Benefit Obligation:
Benefit obligation at end of prior year						$	69,869					$	2,379					$	15,463					$	94,170					$	3,483					$	19,321					$	96,848					$	3,704					$	18,789
Interest cost						3,771						126						831						2,741						102						578						2,570						92						520
Actuarial (gain) loss						3,856						201						555						(22,997)						(1,076)						(3,763)						(1,381)						(155)						684
Benefits paid						(4,218)						(61)						(673)						(3,950)						(60)						(673)						(3,734)						(59)						(672)
Expenses paid						(113)						(88)						—						(95)						(70)						—						(133)						(99)						—
Settlements						—						(311)						—						—						—						—						—						—						—
Benefit obligation at end of year						73,165						2,246						16,176						69,869						2,379						15,463						94,170						3,483						19,321
Change in Plan Assets:
Fair value of plan assets at end of prior year						76,735						3,128						—						97,439						3,871						—						90,419						3,613						—
Actual return						9,147						417						—						(16,659)						(613)						—						10,887						416						—
Employer contributions						—						—						673						—						—						673						—						—						672
Benefits paid						(4,218)						(61)						(673)						(3,950)						(60)						(673)						(3,734)						(59)						(672)
Expenses paid						(113)						(88)						—						(95)						(70)						—						(133)						(99)						—
Settlements						—						(311)						—						—						—						—						—						—						—
Fair value of plan assets at end of year						81,551						3,085						—						76,735						3,128						—						97,439						3,871						—
(Un)Funded status at end of year						8,386						839						(16,176)						6,866						749						(15,463)						3,269						388						(19,321)
Accrued benefit (liability) asset recognized						$	8,386					$	839					$	(16,176)					$	6,866					$	749					$	(15,463)					$	3,269					$	388					$	(19,321)
Accumulated benefit obligation at end of year						$	73,165					$	2,246					$	16,176					$	69,869					$	2,379					$	15,463					$	94,170					$	3,483					$	19,321

Schedule of amounts recognized in other comprehensive income (loss)

Amounts related to our defined benefit pension plans and restoration plan recognized as a component of other comprehensive income (loss) were as follows (in thousands):

						Years Ended December 31,
						2023																		2022																		2021
						Retirement Plan						Acquired Retirement Plan						Restoration Plan						Retirement Plan						Acquired Retirement Plan						Restoration Plan						Retirement Plan						Acquired Retirement Plan						Restoration Plan
Recognition of net loss						$	726					$	—					$	30					$	640					$	—					$	255					$	1,002					$	6					$	256
Recognition of gain due to settlement						—						(16)						—						—						—						—						—						—						—
Net gain (loss) occurring during the year						718						29						(555)						493						231						3,763						6,848						361						(685)
						1,444						13						(525)						1,133						231						4,018						7,850						367						(429)
Deferred tax (expense) benefit						(303)						(3)						110						(238)						(48)						(844)						(1,648)						(77)						90
Other comprehensive income (loss), net of tax						$	1,141					$	10					$	(415)					$	895					$	183					$	3,174					$	6,202					$	290					$	(339)

Schedule of amounts in accumulated other comprehensive income (loss) recognized in net periodic benefit cost during period

Net amounts recognized in net periodic benefit cost and other comprehensive income (loss) were as follows (in thousands):

						December 31, 2023																		December 31, 2022
						Retirement Plan						Acquired Retirement Plan						Restoration Plan						Retirement Plan						Acquired Retirement Plan						Restoration Plan
Net loss						$	726					$	—					$	30					$	640					$	—					$	255
Deferred tax expense						(153)						—						(6)						(134)						—						(54)
Accumulated other comprehensive income (loss), net of tax						$	573					$	—					$	24					$	506					$	—					$	201

Schedule of amounts recognized as a component of accumulated other comprehensive loss

Amounts recognized as a component of accumulated other comprehensive income (loss) were as follows (in thousands):

						December 31, 2023																		December 31, 2022
						Retirement Plan						Acquired Retirement Plan						Restoration Plan						Retirement Plan						Acquired Retirement Plan						Restoration Plan
Net gain (loss)						$	(21,356)					$	113					$	(2,511)					$	(22,800)					$	100					$	(1,986)
Deferred tax (expense) benefit						4,485						(24)						527						4,788						(21)						417
Accumulated other comprehensive income (loss), net of tax						$	(16,871)					$	89					$	(1,984)					$	(18,012)					$	79					$	(1,569)

Schedule of components of net periodic pension cost and postretirement benefit cost

Net periodic pension cost and postretirement benefit cost included the following components (in thousands):

						Years Ended December 31,
						2023						2022						2021
Retirement Plan:
Interest cost						$	3,771					$	2,741					$	2,570
Expected return on assets						(4,573)						(5,845)						(5,420)
Net loss amortization						726						640						1,002
Net periodic benefit cost (income)						$	(76)					$	(2,464)					$	(1,848)
Acquired Retirement Plan:
Interest cost						$	126					$	102					$	92
Expected return on assets						(187)						(232)						(211)
Net loss amortization						—						—						6
Gain recognized due to settlement						(16)						—						—
Net periodic benefit cost (income)						$	(77)					$	(130)					$	(113)
Restoration Plan:
Interest cost						$	831					$	578					$	520
Net loss amortization						30						255						256
Net periodic benefit cost						$	861					$	833					$	776

Schedule of assumptions used to determine benefit obligation and net periodic benefit cost

The assumptions used to determine the benefit obligation were as follows:

						December 31, 2023																		December 31, 2022
						Retirement Plan						Acquired Retirement Plan						Restoration Plan						Retirement Plan						Acquired Retirement Plan						Restoration Plan
Discount rate						5.13		%				5.13		%				5.13		%				5.46		%				5.46		%				5.46		%

The assumptions used to determine net periodic pension cost and postretirement benefit cost were as follows:

						Years Ended December 31,
						2023						2022						2021
Retirement Plan:
Discount rate						5.46		%				2.95		%				2.65		%
Expected long-term rate of return on plan assets						6.13		%				6.13		%				6.13		%
Acquired Retirement Plan:
Discount rate						5.46		%				2.95		%				2.65		%
Expected long-term rate of return on plan assets						6.13		%				6.13		%				6.13		%
Restoration Plan:
Discount rate						5.46		%				2.95		%				2.65		%

Schedule of allocation of plan assets

The major categories of assets in the Plan and the Acquired Retirement Plan are presented in the following table (in thousands).  Assets are segregated by the level of the valuation inputs within the fair value hierarchy established by ASC Topic 820 “Fair Value Measurements and Disclosures,” utilized to measure fair value (see “Note 12 – Fair Value Measurement”).  Our Restoration Plan is unfunded.

						December 31, 2023												December 31, 2022
						Retirement Plan						Acquired Retirement Plan						Retirement Plan						Acquired Retirement Plan
Level 1:
Cash						$	1,428					$	—					$	605					$	—
Equity securities:
U.S. large cap (1)						28,506						1,055						23,032						1,103
U.S. mid cap (2)						4,323						125						3,594						135
U.S. small cap (3)						11,907						64						12,447						66
International developed (4)						9,317						—						8,161						—
International emerging (2)						1,964						—						1,841						—
International (5)						—						540						—						547
Fixed income securities:
Corporate bonds (6)						—						1,078						—						1,027
U.S. government treasuries (6)						148						—						233						—
Real estate (7)						—						223						—						250
Level 2:
Cash Equivalents						5,957						—						8,543						—
Fixed income securities:
Corporate bonds (6)						1,893						—						1,979						—
U.S. government agencies (6)						4,871						—						4,380						—
Municipal bonds (6)						11,119						—						11,774						—
U.S. agency MBS (8)						118						—						146						—
Total fair value of plan assets						$	81,551					$	3,085					$	76,735					$	3,128

(1)For the Retirement Plan, this category is comprised of broadly diversified “passive” and “active” mutual funds. The Acquired Retirement Plan assets in this category consist of pooled separate accounts invested in mutual funds and domestic stocks.

(2)For the Retirement Plan, this category is comprised of broadly diversified “active” mutual funds. The Acquired Retirement Plan assets in this category consist of pooled separate accounts invested in mutual funds.

(3)For the Retirement Plan, this category is comprised of broadly diversified “passive” and “active” mutual funds and shares of Southside Bancshares stock. The Acquired Retirement Plan assets in this category consist of pooled separate accounts invested in mutual funds.

(4)This category is comprised of a broadly diversified “passive” and “active” mutual funds.

(5)This category is comprised of pooled separate accounts invested in mutual funds and international stocks.

(6)For the Retirement Plan, this category is comprised of individual investment grade securities that are generally HTM. The Acquired Retirement Plan assets in this category consist of pooled separate accounts invested in mutual funds, bonds and fixed income securities.

(7)This category is comprised of a pooled separate account invested in commercial real estate and includes mortgage loans which are backed by the associated properties.

(8)This category is comprised of individual securities that are generally not HTM.

Schedule of expected future benefit payments related to pension and postretirement plans

As of December 31, 2023, expected future benefit payments related to the Retirement Plan, the Acquired Retirement Plan and the Restoration Plan were as follows (in thousands):

			Retirement Plan						Acquired Retirement Plan						Restoration Plan
2024			$	4,415					$	85					$	694
2025			4,616						92						818
2026			4,930						92						1,156
2027			5,115						128						1,406
2028			5,210						373						1,420
2029 through 2033			26,495						564						7,137
			$	50,781					$	1,334					$	12,631

Schedule of shares issued in connection with stock compensation awards along with other related information

Shares issued in connection with stock compensation awards along with other related information are presented in the following table (in thousands, except share amounts):

			Years Ended December 31,
			2023						2022						2021
New shares issued from available treasury shares			99,109						86,500						305,212
Proceeds from stock option exercises			$	1,082					$	790					$	7,672
Intrinsic value of stock options exercised			$	229					$	421					$	3,005

Schedule of stock options and restricted stock units award activity

A combined summary of activity in our share-based plans as of December 31, 2023 is presented below. Performance stock units outstanding are presented assuming attainment of the maximum payout rate as set forth by the performance criteria:

						Restricted Stock Units Outstanding																								Stock Options  Outstanding
						Service Based												Performance Based
						Number of Shares						Weighted- Average Grant-Date Fair Value						Number of Shares						Weighted- Average Grant-Date Fair Value						Number of Shares						Weighted- Average Exercise  Price						Weighted- Average Grant-Date Fair Value
Balance, January 1, 2023						225,928						$	36.60					13,514						$	41.74					673,011						$	33.45					$	6.49
Granted						57,966						30.14						15,140						38.89						—						—						—
Stock options exercised						—						—						—						—						(38,556)						28.03						6.77
Stock awards vested						(74,698)						36.57						—						—						—						—						—
Forfeited						(11,253)						36.30						—						—						(3,682)						34.83						5.89
Canceled/expired						—						—						—						—						(10,267)						34.12						6.37
Balance, December 31, 2023						197,943						$	34.76					28,654						$	40.18					620,506						$	33.76					$	6.47

Schedule of shares stock option exercise price range

Other information regarding options outstanding and exercisable as of December 31, 2023 is as follows:

												Options Outstanding																		Options Exercisable
Range of Exercise Prices												Number of Shares						Weighted- Average Exercise Price						Weighted- Average Remaining Contractual Life in Years						Number of Shares						Weighted- Average Exercise Price
$	23.66		-			$	25.00					6,153						$	23.66					1.02						6,153						$	23.66
25.01			-			30.00						86,226						26.61						1.48						86,226						26.61
30.01			-			35.00						451,962						34.67						5.06						451,962						34.67
35.01			-			37.28						76,165						37.28						2.87						76,165						37.28
Total												620,506						$	33.76					4.25						620,506						$	33.76

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