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EMPLOYEE BENEFITS (Tables)
12 Months Ended
Dec. 31, 2013
Employee Benefits Including Defined Benefit Plans and Share-based Compensation Plans [Abstract]  
Schedule of changes in projected benefit obligation and fair value of plan assets
 
 
2013
 
2012
 
2011
 
 
Defined
Benefit
Pension
Plan
 
Restoration
Plan
 
Defined
Benefit
Pension
Plan
 
Restoration
Plan
 
Defined
Benefit
Pension
Plan
 
Restoration
Plan
 
 
(in thousands)
Change in Projected Benefit Obligation:
 
 
 
 
 
 
 
 
 
 
 
 
Benefit obligation at end of prior year
 
$
78,002

 
$
9,801

 
$
64,062

 
$
8,309

 
$
53,471

 
$
7,174

Service cost
 
2,118

 
298

 
1,736

 
160

 
1,536

 
174

Interest cost
 
3,155

 
468

 
3,068

 
390

 
2,980

 
395

Actuarial (gain) loss
 
(11,642
)
 
344

 
10,866

 
1,022

 
7,741

 
646

Benefits paid
 
(1,776
)
 
(120
)
 
(1,617
)
 
(80
)
 
(1,554
)
 
(80
)
Expenses paid
 
(111
)
 

 
(113
)
 

 
(112
)
 

Plan amendments
 
300

 
57

 

 

 

 

Benefit obligation at end of year
 
70,046

 
10,848

 
78,002

 
9,801

 
64,062

 
8,309

Change in Plan Assets:
 
 

 
 

 
 

 
 

 
 

 
 

Fair value of plan assets at end of prior year
 
63,165

 

 
56,252

 

 
53,452

 

Actual return
 
12,712

 

 
5,643

 

 
2,466

 

Employer contributions
 
5,000

 
120

 
3,000

 
80

 
2,000

 
80

Benefits paid
 
(1,776
)
 
(120
)
 
(1,617
)
 
(80
)
 
(1,554
)
 
(80
)
Expenses paid
 
(111
)
 

 
(113
)
 

 
(112
)
 

Fair value of plan assets at end of year
 
78,990

 

 
63,165

 

 
56,252

 

Funded status at end of year
 
8,944

 
(10,848
)
 
(14,837
)
 
(9,801
)
 
(7,810
)
 
(8,309
)
Accrued benefit asset (liability) recognized
 
$
8,944

 
$
(10,848
)
 
$
(14,837
)
 
$
(9,801
)
 
$
(7,810
)
 
$
(8,309
)
Accumulated benefit obligation at end of year
 
$
57,283

 
$
8,088

 
$
62,117

 
$
7,540

 
$
51,071

 
$
6,088

Schedule of amounts recognized in other comprehensive income (loss)
Amounts related to our defined benefit pension and restoration plans recognized as a component of other comprehensive income (loss) were as follows (in thousands):

 
 
2013
 
2012
 
2011
 
 
Defined
Benefit
Pension
Plan
 
Restoration
Plan
 
Defined
Benefit
Pension
Plan
 
Restoration
Plan
 
Defined
Benefit
Pension
Plan
 
Restoration
Plan
Recognition of net loss
 
$
2,197

 
$
590

 
$
1,704

 
$
318

 
$
1,163

 
$
303

Recognition of prior service credit
 
(42
)
 
(1
)
 
(42
)
 
(1
)
 
(42
)
 
(2
)
Net gain (loss) occurring during the year
 
19,559

 
(344
)
 
(9,340
)
 
(1,022
)
 
(9,158
)
 
(646
)
Net prior service cost occurring during the year
 
(300
)
 
(57
)
 

 

 

 

 
 
21,414

 
188

 
(7,678
)
 
(705
)
 
(8,037
)
 
(345
)
Deferred tax benefit
 
(7,495
)
 
(66
)
 
2,687

 
247

 
2,813

 
121

Other comprehensive income (loss), net of tax
 
$
13,919

 
$
122

 
$
(4,991
)
 
$
(458
)
 
$
(5,224
)
 
$
(224
)
Schedule of amounts in accumulated other comprehensive income (loss) recognized in net periodic benefit cost during period
Net amounts recognized in net periodic benefit cost and other comprehensive loss as of December 31, 2013 and 2012 were as follows (in thousands):

 
 
2013
 
2012
 
 
Defined
Benefit
Pension
Plan
 
Restoration
Plan
 
Defined
Benefit
Pension
Plan
 
Restoration
Plan
Net loss
 
$
2,197

 
$
590

 
$
1,704

 
$
318

Prior service credit
 
(42
)
 
(1
)
 
(42
)
 
(1
)
 
 
2,155

 
589

 
1,662

 
317

Deferred tax benefit
 
(754
)
 
(206
)
 
(582
)
 
(111
)
Accumulated other comprehensive loss, net of tax
 
$
1,401

 
$
383

 
$
1,080

 
$
206

Schedule of amounts recognized as a component of accumulated other comprehensive loss
Amounts recognized as a component of accumulated other comprehensive loss as of December 31, 2013 and 2012 were as follows (in thousands):

 
 
2013
 
2012
 
 
Defined
Benefit
Pension
Plan
 
Restoration
Plan
 
Defined
Benefit
Pension
Plan
 
Restoration
Plan
Net loss
 
$
(14,618
)
 
$
(4,413
)
 
$
(36,374
)
 
$
(4,658
)
Prior service (cost) credit
 
38

 
(55
)
 
380

 
2

 
 
(14,580
)
 
(4,468
)
 
(35,994
)
 
(4,656
)
Deferred tax benefit
 
5,103

 
1,564

 
12,598

 
1,630

Accumulated other comprehensive loss, net of tax
 
$
(9,477
)
 
$
(2,904
)
 
$
(23,396
)
 
$
(3,026
)
Schedule of assumptions used to determine benefit obligation and net periodic benefit cost
At December 31, 2013 and 2012, the assumptions used to determine the benefit obligation were as follows:

 
 
2013
 
2012
 
 
Defined
Benefit
Pension
Plan
 
Restoration
Plan
 
Defined
Benefit
Pension
Plan
 
Restoration
Plan
Discount rate
 
5.06
%
 
5.06
%
 
4.08
%
 
4.08
%
Compensation increase rate
 
4.50
%
 
4.50
%
 
4.50
%
 
4.50
%
For the years ended December 31, 2013, 2012, and 2011, the assumptions used to determine net periodic pension cost and postretirement benefit cost were as follows:

 
 
2013
 
2012
 
2011
Defined Benefit Pension Plan
 
 
 
 
 
 
Discount rate
 
4.08
%
 
4.84
%
 
5.63
%
Expected long-term rate of return on plan assets
 
7.25
%
 
7.25
%
 
7.25
%
Compensation increase rate
 
4.50
%
 
4.50
%
 
4.50
%
Restoration Plan
 
 

 
 

 
 

Discount rate
 
4.08
%
 
4.84
%
 
5.63
%
Compensation increase rate
 
4.50
%
 
4.50
%
 
4.50
%
Schedule of components of net periodic pension cost and postretirement benefit cost
Net periodic pension cost and postretirement benefit cost for the years ended December 31, 2013, 2012 and 2011 included the following components (in thousands):

 
 
2013
 
2012
 
2011
Defined Benefit Pension Plan
 
 
Service cost
 
$
2,118

 
$
1,736

 
$
1,536

Interest cost
 
3,155

 
3,068

 
2,980

Expected return on assets
 
(4,795
)
 
(4,117
)
 
(3,883
)
Net loss amortization
 
2,197

 
1,704

 
1,163

Prior service credit amortization
 
(42
)
 
(42
)
 
(42
)
Net periodic benefit cost
 
$
2,633

 
$
2,349

 
$
1,754

Restoration Plan
 
 
 
 
 
 
Service cost
 
$
298

 
$
160

 
$
174

Interest cost
 
468

 
390

 
395

Net loss amortization
 
590

 
318

 
303

Prior service credit amortization
 
(1
)
 
(1
)
 
(2
)
Net periodic benefit cost
 
$
1,355

 
$
867

 
$
870

Schedule of amounts in accumulated other comprehensive income (loss) that is expected to be recognized as a component of net periodic benefit cost during 2014
The amounts in accumulated other comprehensive income (loss) that are expected to be recognized as components of net periodic benefit cost during 2014 are as follows (in thousands):

 
 
Defined
Benefit
Pension
Plan
 
Restoration
Plan
Net loss
 
$
511

 
$
376

Prior service cost (credit)
 
(19
)
 
5

 
 
492

 
381

Deferred tax benefit
 
(172
)
 
(133
)
Accumulated other comprehensive loss, net of tax
 
$
320

 
$
248

Schedule of allocation of plan assets
The major categories of assets in our Plan are presented in the following table.  Assets are segregated by the level of the valuation inputs within the fair value hierarchy established by ASC Topic 820 “Fair Value Measurements and Disclosures,” utilized to measure fair value (see “Note 12 – Fair Value Measurement”).  Our Restoration Plan is unfunded.

 
 
December 31,
 
 
2013
 
2012
 
 
(in thousands)
Level 1:
 
 
 
 
Cash
 
$
3,651

 
$
2,251

Equity Securities:
 
 

 
 

U.S. large cap (1)
 
26,784

 
34,573

U.S. mid cap (4)
 
6,744

 
756

U.S. small cap (2)
 
6,353

 
4,158

International developed (3)
 
2,696

 
460

International emerging (4)
 
1,315

 
396

Level 2:
 
 

 
 

Cash equivalents
 
15,589

 
10,813

Fixed Income Securities:
 
 

 
 

Corporate bonds (5)
 
823

 
934

U.S. government agencies (5)
 
4,373

 
4,561

Municipal bonds (5)
 
9,880

 
3,076

U.S. agency mortgage-backed securities (6)
 
782

 
1,187

Total fair value of plan assets
 
$
78,990

 
$
63,165


(1)
This category is comprised of individual securities that are actively managed and broadly diversified "passive" mutual fund.
(2)
This category is comprised primarily of Southside Bancshares stock that is owned in the Plan and broadly diversified "passive" mutual fund.
(3)
This category is comprised of a broadly ‘passive’ mutual fund.
(4)
This category is comprised of a broadly diversified ‘passive’ mutual fund.
(5)
This category is comprised of individual investment grade securities that are generally held to maturity.
(6)
This category is comprised of individual securities that are generally not held to maturity.
Schedule of expected future benefit payments related to pension and postretirement plans
As of December 31, 2013, expected future benefit payments related to our defined benefit pension plan and restoration plan were as follows (in thousands):
 
Defined Benefit
Pension Plan
 
Restoration
Plan
2014
$
2,213

 
$
189

2015
2,539

 
244

2016
2,743

 
314

2017
3,108

 
686

2018
3,401

 
734

2019 through 2023
20,883

 
4,612

 
$
34,887

 
$
6,779

Schedule of stock option valuation assumptions
The estimated weighted-average grant-date fair value per option and the underlying Black-Scholes option-pricing model assumptions are summarized in the following table:
 
 
Years Ended December 31,
 
 
2013
 
2012
Weighted-average grant date fair value per option
 
$8.58
 
$5.83
Weighted-average assumptions:
 
 
 
 
    Risk-free interest rates
 
2.23%
 
1.03%
    Expected dividend yield
 
3.10%
 
3.82%
    Expected volatility factors of the market price of Southside Bancshares common stock
 
40.88%
 
41.96%
    Expected option life (in years)
 
6.9
 
6.9
Schedule of stock options and restricted stock units award activity
A combined summary of activity in our share-based plans as of December 31, 2013 is presented below:

 
 
 
 
Restricted Stock Units
Outstanding
 
Stock Options Outstanding
 
 
Shares
Available for
Grant
 
Number
of Shares
 
Weighted-
Average
Grant-Date
Fair
Value
 
Number
of Shares
 
Weighted-
Average
Exercise
 Price
 
Weighted-
Average
Grant-Date
Fair
Value
Balance, January 1, 2013
 
867,057

 
50,178

 
$
18.93

 
349,685

 
$
18.82

 
$
5.45

Granted
 
(185,325
)
 
27,039

 
27.14

 
158,286

 
27.14

 
8.58

Stock options exercised
 

 

 

 
(11,442
)
 
18.03

 
5.37

Stock awards vested
 

 
(19,812
)
 
18.78

 

 

 

Forfeited
 
21,988

 
(3,310
)
 
18.80

 
(18,678
)
 
18.93

 
5.45

Canceled/expired
 

 

 

 

 

 

Balance, December 31, 2013
 
703,720

 
54,095

 
$
23.09

 
477,851

 
$
21.59

 
$
6.49

Schedule of shares stock option exercise price range
Other information regarding options outstanding and exercisable as of December 31, 2013 is as follows:

 
 
Options Outstanding
 
Options Exercisable
Range of Exercise Prices
 
Number
of Shares
 
Weighted-
Average
Exercise
Price
 
Weighted-
Average
Remaining
Contractual
Life in Years
 
Number
of Shares
 
Weighted-
Average
Exercise
Price
$
17.41

-
27.14
 
477,851

 
$
21.59

 
8.70
 
135,142

 
$
18.47

Total
 
477,851

 
$
21.59

 
8.70
 
135,142

 
$
18.47