v3.26.1
Long-term Debt
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Long-term Debt Long-term Debt
Information related to our long-term debt is summarized as follows for the periods presented (in thousands):    
June 30, 2026December 31, 2025
Subordinated notes: (1)
3.875% Subordinated notes, net of unamortized debt issuance costs (2)
$— $92,190 
7.00% Subordinated notes, net of unamortized debt issuance costs (3)
147,587 147,488 
Total Subordinated notes147,587 239,678 
Trust preferred subordinated debentures: (4)
Southside Statutory Trust III, net of unamortized debt issuance costs (5)
20,590 20,587 
Southside Statutory Trust IV23,196 23,196 
Southside Statutory Trust V12,887 12,887 
Magnolia Trust Company I3,609 3,609 
Total Trust preferred subordinated debentures60,282 60,279 
Total Long-term debt$207,869 $299,957 

(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 $810,000 at December 31, 2025.
(3)The unamortized discount and debt issuance costs reflected in the carrying amount of the subordinated notes totaled approximately $2.4 million at June 30, 2026 and $2.5 million at December 31, 2025.
(4)This debt consists of trust preferred securities that qualify under the risk-based capital guidelines as Tier 1 capital, subject to certain limitations.
(5)The unamortized debt issuance costs reflected in the carrying amount of the Southside Statutory Trust III junior subordinated debentures totaled $29,000 at June 30, 2026 and $32,000 at December 31, 2025.

As of June 30, 2026, the details of the subordinated notes and the trust preferred subordinated debentures are summarized below (dollars in thousands):
Date IssuedAmount IssuedFixed or Floating RateInterest RateMaturity Date
7.00% Subordinated Notes
August 14, 2025$150,000 Fixed-to-Floating7.00%August 15, 2035
Southside Statutory Trust IIISeptember 4, 2003$20,619 Floating
3 month SOFR + 3.20%
September 4, 2033
Southside Statutory Trust IVAugust 8, 2007$23,196 Floating
3 month SOFR + 1.56%
October 30, 2037
Southside Statutory Trust VAugust 10, 2007$12,887 Floating
3 month SOFR + 2.51%
September 15, 2037
Magnolia Trust Company I (1)
May 20, 2005$3,609 Floating
3 month SOFR + 2.06%
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.

On November 6, 2020, the Company issued $100.0 million in aggregate principal amount of fixed-to-floating rate subordinated notes with a maturity date of November 15, 2030. This debt initially charged interest at a fixed rate of 3.875% per year through November 14, 2025, when it became callable, and thereafter, adjusted quarterly at a floating rate equal to the then current three-month term SOFR, as published by the FRBNY, plus 366 basis points. On February 15, 2026, the Company completed the redemption of the subordinated notes. The $100.0 million principal amount included $7.0 million of the notes previously repurchased by the Company. The notes were redeemed in full at 100% of the principal amount plus accrued and unpaid interest. The remaining unamortized discount and debt issuance costs of $791,000 associated with these notes were recorded on our consolidated income statements as loss on redemption of subordinated notes in noninterest expense.
On August 14, 2025, the Company issued $150.0 million in aggregate principal amount of fixed-to-floating rate subordinated notes that mature on August 15, 2035. This debt initially charges interest at a fixed rate of 7.00% per year through August 15, 2030 and thereafter, adjusts quarterly at a floating rate equal to the then current three-month term SOFR, as published by the FRBNY, plus 357 basis points. The proceeds from the sale of the subordinated notes were used for general corporate purposes.