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Pay vs Performance Disclosure
12 Months Ended
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Pay vs Performance Disclosure        
Pay vs Performance Disclosure, Table
PAY VERSUS PERFORMANCE
The table below shows total compensation, as set forth in the summary compensation table, and compensation actually paid ("CAP"), calculated in accordance with SEC Pay versus Performance regulations for our PEO and other NEOs, as well as certain performance measures, for the fiscal years ended December 31, 2023, 2022, 2021 and 2020.
YearSummary Compensation Table Total for PEO
($)(1)
Compensation actually paid to PEO
($)(2)
Average Summary Compensation Table Total for other NEOs
($)(3)
Average Compensation Actually Paid to other NEOs
($)(2)(3)
Value of Initial Fixed $100 Investment Based on:
Net Income
($ in Millions)
ROATCE %(6)
TSR(4)Peer Group TSR(5)
2023$2,134,717 $1,267,253 $833,303 $638,088 $98.91 $110.86 $86.7 16.03 %
20221,549,596 1,476,916 756,008 726,766 108.56 119.01 105.0 18.56 %
20211,442,701 1,517,567 633,441 721,480 121.77 129.55 113.4 17.04 %
20202,654,466 1,108,641 1,014,518 553,073 87.26 101.71 82.2 13.79 %
(1)The Principal Executive Officer ("PEO") is Lee R. Gibson for all periods presented.
(2)The amount reported is calculated in accordance with SEC Pay versus Performance regulations and does not represent compensation received by our NEOs. See the detail of the calculation in the table below.
(3)For 2023, 2022 and 2021, the other NEOs are Julie N. Shamburger, Tim Alexander, Brian K. McCabe and T.L. Arnold, Jr. For 2020, the other NEOs are Julie N. Shamburger, Tim Alexander, Brian K. McCabe and Mark Drennan.
(4)Total Shareholder Return ("TSR").
(5)The peer group consists of the same companies included in our Form 10-K for the performance graph required by Item 201(e) of Regulation S-K. The peer group consists of Cullen/Frost Bankers, Inc. (CFR), First Financial Bankshares, Inc. (FFIN), Hilltop Holdings (HTH), Independent Bank Group, Inc. (IBTX), Prosperity Bancshares, Inc. (PB), Texas Capital Bancshares, Inc. (TCBI) and Veritex Holdings, Inc. (VBTX).
(6)The company-selected measure is ROATCE, a non-GAAP measure. In calculating ROATCE, Southside adds back the after tax amortization expense to net income available to common shareholders and subtracts average intangible assets for the period from average shareholders’ equity.
     
Company Selected Measure Name ROATCE      
Named Executive Officers, Footnote For 2023, 2022 and 2021, the other NEOs are Julie N. Shamburger, Tim Alexander, Brian K. McCabe and T.L. Arnold, Jr. For 2020, the other NEOs are Julie N. Shamburger, Tim Alexander, Brian K. McCabe and Mark Drennan.      
Peer Group Issuers, Footnote The peer group consists of the same companies included in our Form 10-K for the performance graph required by Item 201(e) of Regulation S-K. The peer group consists of Cullen/Frost Bankers, Inc. (CFR), First Financial Bankshares, Inc. (FFIN), Hilltop Holdings (HTH), Independent Bank Group, Inc. (IBTX), Prosperity Bancshares, Inc. (PB), Texas Capital Bancshares, Inc. (TCBI) and Veritex Holdings, Inc. (VBTX).      
PEO Total Compensation Amount $ 2,134,717 $ 1,549,596 $ 1,442,701 $ 2,654,466
PEO Actually Paid Compensation Amount $ 1,267,253 1,476,916 1,517,567 1,108,641
Adjustment To PEO Compensation, Footnote
The table below shows the calculation and related adjustments for compensation actually paid.
YearExecutiveSummary Compensation Table TotalSubtract: Change in Pension ValueAdd: Service Cost and Prior Service Cost
(1)
Subtract: Equity Grants at Grant Date Fair ValueAdd: Equity Awards Granted at Year-End Value
(2)(3)
Add: Change in Value of Unvested Equity Awards
(3)(4)
Add: Change in Value of Vested Equity Awards
(3)(5)
Compensation Actually Paid
2023PEO$2,134,717 $769,701 $— $283,353 $228,198 $(26,882)$(15,726)$1,267,253 
Other NEOs833,303 156,007 — 110,117 88,683 (10,409)(7,365)638,088 
2022PEO1,549,596 — — 271,144 242,428 (9,250)(34,714)1,476,916 
Other NEOs756,008 — — 106,333 95,050 (4,777)(13,182)726,766 
2021PEO1,442,701 172,927 — 125,187 139,344 82,083 151,553 1,517,567 
Other NEOs633,441 3,661 — 46,486 51,742 34,621 51,823 721,480 
2020PEO2,654,466 1,572,177 198,992 — — (94,661)(77,979)1,108,641 
Other NEOs1,014,518 481,273 80,415 3,684 3,739 (32,719)(27,923)553,073 
(1)Reflects the actuarially determined service cost for services rendered by executives during the reported year (i.e. service cost). We note our Pension Plan was frozen effective December 31, 2020, thus no service cost thereafter. Additionally, there was no prior service cost in any of the reported years.
(2)The amount reported reflects equity awards granted during the fiscal year and dividends equivalents accrued during the year of grant, valued as of fiscal year end.
(3)NQSO grant date fair values were calculated using the Black-Scholes option pricing model as of the grant date. We note no NQSOs were granted in any of the years presented. NQSOs have been remeasured as of each measurement date using the stock price as of the measurement date and updated assumptions: expected term, volatility, dividend yield and risk-free rate as of the measurement date. RSU fair values are calculated using the stock price as of the grant date, and stock price was updated for each measurement period to reflect the stock price on such date. PSUs fair values are calculated using the stock price as of the grant date assuming target performance and was updated for each measurement period to reflect the stock price and expected payout levels as of such date.
(4)The amount reported reflects the increase (decrease) in fair value from prior fiscal year end to fiscal year end for the reporting period for equity awards. Dividend equivalents accrued in the year of the period presented are presented at fair value as of year end. Dividend equivalents accrued in prior periods reflect the change in fair value from prior fiscal year end to the fiscal year end for the reporting period.
(5)The amount reported reflects the increase (decrease) in fair value from prior fiscal year end to the vesting date in the reporting period. Dividend equivalents are included. Dividend equivalents accrued in the year of the period presented are presented at fair value as of the vest date. Dividend equivalents accrued in prior periods reflect the change in fair value from prior fiscal year end to the vesting date for the reporting period.
     
Non-PEO NEO Average Total Compensation Amount $ 833,303 756,008 633,441 1,014,518
Non-PEO NEO Average Compensation Actually Paid Amount $ 638,088 726,766 721,480 553,073
Adjustment to Non-PEO NEO Compensation Footnote
The table below shows the calculation and related adjustments for compensation actually paid.
YearExecutiveSummary Compensation Table TotalSubtract: Change in Pension ValueAdd: Service Cost and Prior Service Cost
(1)
Subtract: Equity Grants at Grant Date Fair ValueAdd: Equity Awards Granted at Year-End Value
(2)(3)
Add: Change in Value of Unvested Equity Awards
(3)(4)
Add: Change in Value of Vested Equity Awards
(3)(5)
Compensation Actually Paid
2023PEO$2,134,717 $769,701 $— $283,353 $228,198 $(26,882)$(15,726)$1,267,253 
Other NEOs833,303 156,007 — 110,117 88,683 (10,409)(7,365)638,088 
2022PEO1,549,596 — — 271,144 242,428 (9,250)(34,714)1,476,916 
Other NEOs756,008 — — 106,333 95,050 (4,777)(13,182)726,766 
2021PEO1,442,701 172,927 — 125,187 139,344 82,083 151,553 1,517,567 
Other NEOs633,441 3,661 — 46,486 51,742 34,621 51,823 721,480 
2020PEO2,654,466 1,572,177 198,992 — — (94,661)(77,979)1,108,641 
Other NEOs1,014,518 481,273 80,415 3,684 3,739 (32,719)(27,923)553,073 
(1)Reflects the actuarially determined service cost for services rendered by executives during the reported year (i.e. service cost). We note our Pension Plan was frozen effective December 31, 2020, thus no service cost thereafter. Additionally, there was no prior service cost in any of the reported years.
(2)The amount reported reflects equity awards granted during the fiscal year and dividends equivalents accrued during the year of grant, valued as of fiscal year end.
(3)NQSO grant date fair values were calculated using the Black-Scholes option pricing model as of the grant date. We note no NQSOs were granted in any of the years presented. NQSOs have been remeasured as of each measurement date using the stock price as of the measurement date and updated assumptions: expected term, volatility, dividend yield and risk-free rate as of the measurement date. RSU fair values are calculated using the stock price as of the grant date, and stock price was updated for each measurement period to reflect the stock price on such date. PSUs fair values are calculated using the stock price as of the grant date assuming target performance and was updated for each measurement period to reflect the stock price and expected payout levels as of such date.
(4)The amount reported reflects the increase (decrease) in fair value from prior fiscal year end to fiscal year end for the reporting period for equity awards. Dividend equivalents accrued in the year of the period presented are presented at fair value as of year end. Dividend equivalents accrued in prior periods reflect the change in fair value from prior fiscal year end to the fiscal year end for the reporting period.
(5)The amount reported reflects the increase (decrease) in fair value from prior fiscal year end to the vesting date in the reporting period. Dividend equivalents are included. Dividend equivalents accrued in the year of the period presented are presented at fair value as of the vest date. Dividend equivalents accrued in prior periods reflect the change in fair value from prior fiscal year end to the vesting date for the reporting period.
     
Compensation Actually Paid vs. Total Shareholder Return
4390
     
Compensation Actually Paid vs. Net Income 4392      
Compensation Actually Paid vs. Company Selected Measure 4393      
Tabular List, Table
Financial Performance Measure
EPS
ROATCE
Loan Growth
     
Total Shareholder Return Amount $ 98.91 108.56 121.77 87.26
Peer Group Total Shareholder Return Amount 110.86 119.01 129.55 101.71
Net Income (Loss) $ 86,700,000 $ 105,000,000.0 $ 113,400,000 $ 82,200,000
Company Selected Measure Amount | pURE 0.1603 0.1856 0.1704 0.1379
PEO Name Lee R. Gibson      
Measure:: 1        
Pay vs Performance Disclosure        
Name EPS      
Measure:: 2        
Pay vs Performance Disclosure        
Name ROATCE      
Non-GAAP Measure Description The company-selected measure is ROATCE, a non-GAAP measure. In calculating ROATCE, Southside adds back the after tax amortization expense to net income available to common shareholders and subtracts average intangible assets for the period from average shareholders’ equity.      
Measure:: 3        
Pay vs Performance Disclosure        
Name Loan Growth      
PEO | Subtract: Change in Pension Value [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ 769,701 $ 0 $ 172,927 $ 1,572,177
PEO | Add: Service Cost and Prior Service Cost [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0 0 0 198,992
PEO | Subtract: Equity Grants at Grant Date Fair Value [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 283,353 271,144 125,187 0
PEO | Add: Equity Awards Granted at Year-End Value [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 228,198 242,428 139,344 0
PEO | Add: Change in Value of Unvested Equity Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (26,882) (9,250) 82,083 (94,661)
PEO | Add: Change in Value of Vested Equity Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (15,726) (34,714) 151,553 (77,979)
Non-PEO NEO | Subtract: Change in Pension Value [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 156,007 0 3,661 481,273
Non-PEO NEO | Add: Service Cost and Prior Service Cost [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0 0 0 80,415
Non-PEO NEO | Subtract: Equity Grants at Grant Date Fair Value [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 110,117 106,333 46,486 3,684
Non-PEO NEO | Add: Equity Awards Granted at Year-End Value [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 88,683 95,050 51,742 3,739
Non-PEO NEO | Add: Change in Value of Unvested Equity Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (10,409) (4,777) 34,621 (32,719)
Non-PEO NEO | Add: Change in Value of Vested Equity Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ (7,365) $ (13,182) $ 51,823 $ (27,923)