SOUTHSIDE BANCSHARES INC (SBSI): debt financing — Southside Bancshares issues $150M of 7% subordinated notes due 2035; net proceeds ~$147.75M

SOUTHSIDE BANCSHARES INC

Completed $150M offering of 7.00% Fixed-to-Floating Rate Subordinated Notes due 2035.
Net proceeds ~$147.75M; may redeem $150M of 3.875% Notes due 2030 or use for general purposes.
Notes qualify as Tier 2 regulatory capital; fixed 7% for 5 years then SOFR+357 bps floating.
Issued under Indenture with Wilmington Trust; subordinated to senior debt, structurally subordinated to subsidiary liabilities.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

SOUTHSIDE BANCSHARES INC incurred senior notes of $150,000,000 aggregate principal amount with Wilmington Trust, National Association at 7.00% per annum, payable semi-annually in arrears on February 15 and August 15 o maturing August 15, 2035.

Instrument: senior notes
Principal: $150,000,000 aggregate principal amount
Counterparty: Wilmington Trust, National Association
Rate: 7.00% per annum, payable semi-annually in arrears on February 15 and August 15 o
Maturity: August 15, 2035
Event: incurrence

Exact text from the filing

On August 14, 2025, Southside Bancshares, Inc. (the “Company”) completed its previously-announced public offering (the “Offering”) of $150,000,000 aggregate principal amount of its 7.00% Fixed-to-Floating Rate Subordinated Notes due 2035 (the “Notes”).

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Source: SEC EDGAR

accession 0001104659-25-078763

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