Southside Bancshares closes $150 million subordinated notes offering due 2035
Southside Bancshares completed a public offering of $150 million in 7.00% fixed-to-floating rate subordinated notes due 2035, with net proceeds of about $147.75 million. The company intends to use the proceeds for general corporate purposes, which may include redeeming its 3.875% subordinated notes due 2030 on November 15, 2025.
Key points
- Notes total $150 million, with a 7.00% fixed rate until August 15, 2030, then a floating rate of Three-Month Term SOFR plus 357 basis points
- Net proceeds of approximately $147.75 million after underwriting discounts and commissions, before offering expenses
- Notes are intended to qualify as Tier 2 capital and rank junior to senior debt and equal with existing subordinated notes
- Proceeds may fund redemption of 3.875% notes due 2030 on November 15, 2025, among other uses
The filing
Written by AI on Nov 8, 2026, 6:59 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 14, 2025.
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