SBSI SOUTHSIDE BANCSHARES INC

Did the company actually spend money buying back stock in 3+ of the last 4 quarters?

Bought back stock in 3/4 quarters. Q3 2025: $0M, Q3 2024: $6M, Q2 2024: $20M, Q1 2024: $15M

Is the most recent quarter's buyback spend more than 15% above the trailing average?

Latest quarter $0M vs trailing avg $13M (-100%)

What percentage of free cash flow is going to buybacks? Bull: 30%+. Bear: negative FCF or no buybacks.

Negative FCF ($-78M), buybacks not supported by cash flow

How fast are they shrinking the float? Bull: 2%+ annually. Bear: under 0.5%.

Repurchased 1,030,720 shares = 3.5% of 29,751,711 outstanding (annualized)

Are officers and directors buying stock with their own money on the open market?

2 open-market purchases by 2 insiders

• Calhoun Kirk A. () bought 300 shares at $33.15 on 2026-02-03
• BUIE HERBERT C () bought 1,807 shares at $30.68 on 2025-12-04

Are both company buybacks and insider buying independently active? Bull when the company is buying back stock in 2+ quarters and insiders have made 2+ open-market purchases.

Company buybacks in 3 quarters and 2 insider purchases by 2 insiders (no calendar overlap, but both independently active)

Over the last 90 days, are insiders net buyers or net sellers on the open market?

Insiders bought $0M, sold $0M in the last 90 days (net buying)

Active buyback + insiders net selling 3x+ more than buying. Company cash may be supporting price while insiders exit.

No buyback-insider divergence detected