XML 63 R44.htm IDEA: XBRL DOCUMENT
v3.25.0.1

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |  |
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location | The following table presents the amounts recorded in the consolidated balance sheets related to the cumulative adjustments for fair value hedges (in thousands):
|  | Amortized Cost of Hedged Assets (2) |  | Cumulative Amount of Fair Value Hedging Adjustments Included in the Carrying Amount of the Hedged Items
|  | December 31, 2024 |  |  | December 31, 2023 |  | December 31, 2024 | December 31, 2023
Securities AFS (1) (3) |  | $ | 903,168 |  |  |  | $ | 487,486 |  |  | $ | 16,617 |  |  | $ | 13,642 |
Loans (1) (3) |  | 265,845 |  |  |  | — |  |  | 1,545 |  |  | — |
1) Amounts include the amortized cost basis of closed portfolios used to designate hedging relationships under the portfolio layer method. The hedged item is a layer of the closed portfolio which is expected to be remaining at the end of the hedging relationship. As of December 31, 2024, the amortized cost basis of the closed MBS portfolio used in these hedging relationships was $558.5 million, the amount of the designated hedged items were $134.0 million and the cumulative amount of fair value hedging adjustments associated with these MBS hedging relationships was a gain of $1.1 million. As of December 31, 2024, the amortized cost basis of the closed loan portfolio used in these hedging relationships was $265.8 million, the amount of the designated hedged items were $155.0 million and the cumulative amount of fair value hedging adjustments associated with these loan hedging relationships was a gain of $1.5 million. 2) Excludes fair value hedging adjustments. 3) Excluded from the table above are the cumulative amount of fair value hedging adjustments for securities AFS and loans for which hedge accounting has been discontinued in the amounts of a loss of $4.8 million and a loss of $3.7 million, respectively, at December 31, 2024. There were no discontinued hedges as of December 31, 2023. |
Schedule of derivative instruments in statement of financial position, fair value | The following tables present the notional and estimated fair value amount of derivative positions outstanding (in thousands):
|  | December 31, 2024 |  | December 31, 2023
|  | Estimated Fair Value |  | Estimated Fair Value
|  | Notional Amount (1) |  | Asset Derivative |  | Liability Derivative |  | Notional Amount (1) |  | Asset Derivative |  | Liability Derivative
Derivatives designated as hedging instruments |  |  |  |  |  |  |  |  |  |
Interest rate contracts: |  |  |  |  |  |  |  |  |  |  |  |
Swaps-Cash Flow Hedge-Financial institution counterparties |  | $ | 790,000 |  |  | $ | 12,625 |  |  | $ | 1,078 |  |  | $ | 1,010,000 |  |  | $ | 24,223 |  |  | $ | 6,910 |
Swaps-Fair Value Hedge-Financial institution counterparties |  | 602,950 |  |  | 18,331 |  |  | 217 |  |  | 453,440 |  |  | 13,658 |  |  | 16 |
Derivatives designated as non-hedging instruments |  |  |  |  |  |  |  |  |  |
Interest rate contracts: |  |  |  |  |  |  |  |  |  |  |  |
Swaps-Financial institution counterparties |  | 408,749 |  |  | 21,534 |  |  | 1,321 |  |  | 248,073 |  |  | 18,249 |  |  | 509 |
Swaps-Customer counterparties |  | 408,749 |  |  | 1,321 |  |  | 21,534 |  |  | 248,073 |  |  | 509 |  |  | 18,249 |
Gross derivatives |  |  |  | 53,811 |  |  | 24,150 |  |  |  |  | 56,639 |  |  | 25,684 |
Offsetting derivative assets/liabilities |  |  |  | (2,616) |  |  | (2,616) |  |  |  |  | (7,435) |  |  | (7,435) |
Cash collateral received/posted |  |  |  | (49,874) |  |  | — |  |  |  |  | (46,760) |  |  | — |
Net derivatives included in the consolidated balance sheets (2) |  |  |  | $ | 1,321 |  |  | $ | 21,534 |  |  |  |  | $ | 2,444 |  |  | $ | 18,249 |
(1) Notional amounts, which represent the extent of involvement in the derivatives market, are used to determine the contractual cash flows required in accordance with the terms of the agreement. These amounts are typically not exchanged, significantly exceed amounts subject to credit or market risk and are not reflected in the consolidated balance sheets. (2) Net derivative assets are included in other assets and net derivative liabilities are included in other liabilities on the consolidated balance sheets. Included in the fair value of net derivative assets and net derivative liabilities are credit valuation adjustments reflecting counterparty credit risk and our credit risk. At December 31, 2024, we had no credit exposure related to interest rate swaps with financial institutions and $1.3 million related to interest rate swaps with customers. At December 31, 2023, we had $1.9 million credit exposure related to interest rate swaps with financial institutions and $509,000 related to interest rate swaps with customers. The credit risk associated with customer transactions is partially mitigated as these are generally secured by the non-cash collateral securing the underlying transaction being hedged. | [1]
Weighted average maturity and interest rates on risk management interest rate swaps | The summarized expected weighted average remaining maturity of the notional amount of interest rate swaps and the weighted average interest rates associated with the amounts expected to be received or paid on interest rate swap agreements are presented below (dollars in thousands). Variable rates received on fixed pay swaps are based on overnight SOFR rates in effect at December 31, 2024 and December 31, 2023:
|  | December 31, 2024 |  | December 31, 2023
|  |  |  | Weighted Average |  |  |  | Weighted Average
|  | Notional Amount |  | Remaining Maturity (in years) |  | Receive Rate |  | Pay Rate |  | Notional Amount |  | Remaining Maturity (in years) |  | Receive Rate |  | Pay Rate
Swaps-Cash Flow hedge |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Financial institution counterparties |  | $ | 790,000 |  |  | 1.6 |  | 4.60 | % |  | 2.62 | % |  | $ | 1,010,000 |  |  | 2.3 |  | 5.44 | % |  | 2.65 | %
Swaps-Fair Value hedge |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Financial institution counterparties |  | 602,950 |  |  | 3.0 |  | 4.76 | % |  | 3.33 | % |  | 453,440 |  |  | 5.4 |  | 5.37 | % |  | 3.13 | %
Swaps-Non-hedging |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Financial institution counterparties |  | 408,749 |  |  | 5.4 |  | 4.65 | % |  | 3.39 | % |  | 248,073 |  |  | 7.4 |  | 5.84 | % |  | 2.88 | %
Customer counterparties |  | 408,749 |  |  | 5.4 |  | 3.39 | % |  | 4.65 | % |  | 248,073 |  |  | 7.4 |  | 2.88 | % |  | 5.84 | %
Derivative Instruments, Gain (Loss) | The following table presents amounts included in the consolidated statements of income related to interest rate swap agreements (in thousands):
| Years Ended December 31,
| 2024 |  | 2023 |  | 2022
Derivatives designated as hedging instruments |  |  |  |  |
Swaps-Cash Flow hedge |  |  |  |  |
Gain (loss) included in interest expense on deposits | $ | 13,833 |  |  | $ | 15,225 |  |  | $ | 3,575 |
Gain (loss) included in interest expense on FHLB borrowings | 8,209 |  |  | 8,432 |  |  | 63 |
Gain (loss) included in interest expense on other borrowings | — |  |  | 887 |  |  | — |
| 22,042 |  |  | 24,544 |  |  | 3,638 |
Swaps-Fair Value hedge |  |  |  |  |
Gain (loss) included in interest income on tax-exempt investment securities | 8,646 |  |  | 12,834 |  |  | 422 |
Gain (loss) included in interest income on MBS | 1,167 |  |  | — |  |  | — |
Gain (loss) included in interest income on loans | 999 |  |  | — |  |  | — |
Derivatives designated as non-hedging instruments |  |  |  |  |
Swaps-Non-hedging |  |  |  |  |
Other noninterest income | 1,458 |  |  | 352 |  |  | 472 |
[1] | Net derivative assets are included in other assets and net derivative liabilities are included in other liabilities on the consolidated balance sheets. Included in the fair value of net derivative assets and net derivative liabilities are credit valuation adjustments reflecting counterparty credit risk and our credit risk. At December 31, 2024, we had no credit exposure related to interest rate swaps with financial institutions and $1.3 million related to interest rate swaps with customers. At December 31, 2023, we had $1.9 million credit exposure related to interest rate swaps with financial institutions and $509,000 related to interest rate swaps with customers. The credit risk associated with customer transactions is partially mitigated as these are generally secured by the non-cash collateral securing the underlying transaction being hedged.

X
- Definition [Table Text Block] for Weighted average remaining maturity of the notional amount of risk management interest rate swaps and weighted average interest rates. + References No definition available. + Details
Name: | sbsi_WeightedAverageMaturityAndInterestRatesOnRiskManagementInterestRateSwapsTableTextBlock
Namespace Prefix: | sbsi_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

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

X
- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of derivative instruments (including nonderivative instruments that are designated and qualify as hedging instruments) of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A + Details
Name: | us-gaap_ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration