UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13G
Under the Securities Exchange Act of 1934
SOUTHSIDE BANCSHARES, INC.
(Name of Issuer)
Common Stock, $1.25 Par Value
(Title of Class of Securities)
84470P 10 9
(CUSIP Number)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[X] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
(Continued on following pages)
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(Continued on following pages)
Page 2 of 6 Pages
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CUSIP No. 84470P 10 9 Schedule 13G
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1 NAME OF REPORTING PERSON Southside Bank Trust Department
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Texas
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5 SOLE VOTING POWER 206,476
NUMBER OF
SHARES 6 SHARED VOTING POWER 192,656
BENEFICIALLY
OWNED BY
EACH 7 SOLE DISPOSITIVE POWER 206,476
REPORTING
PERSON WITH
8 SHARED DISPOSITIVE POWER 192,656
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
399,132
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.4%
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12 TYPE OF REPORTING PERSON*
BK
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
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CUSIP No. 84470P 10 9 Schedule 13G
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CUSIP No. 84470P 10 9 Schedule 13G
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Item 1.
(a) Name of Issuer:
--------------
Southside Bancshares, Inc.
(b) Address of Issuer's Principal Executive Offices
-----------------------------------------------
1201 South Beckham Avenue
Tyler, Texas 75701
Item 2.
(a) Name of Person Filing:
---------------------
Southside Bank Trust Department (the "Reporting Person")
(b) Address of Principal Business Office or, if none, Residence:
-----------------------------------------------------------
1201 South Beckham Avenue
Tyler, Texas 75701
(c) Citizenship:
-----------
Texas
(d) Title of Class of Securities:
----------------------------
Common Stock, $1.25 par value
(e) CUSIP No.:
---------
84470P 10 9
Item 3. If this statement is filed pursuant to ss.ss.240.13d-1(b) or
240.13d-2(b) or (c), check whether the person filing is a:
(a) [ ] Broker or dealer registered under section 15 of the Act (15
U.S.C. 78o).
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CUSIP No. 84470P 10 9 Schedule 13G
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(b) [X] Bank as defined in section 3(a)(6) of the Act (15 U.S.C.
78c).
(c) [ ] Insurance company as defined in section 3(a)(19) of the Act
(15 U.S.C. 78c).
(d) [ ] Investment company registered under section of the
Investment Company Act of 1940 (15 U.S.C. 80a-8).
(e) [ ] An investment adviser in accordance with ss.240.13d-1(b)(1)
(ii)(E);
(f) [ ] An employee benefit plan or endowment fund in accordance
with ss.240.13d- 1(b)(1)(ii)(F);
(g) [ ] A parent holding company or control person in accordance
with ss.240.13d- 1(b)(1)(ii)(G);
(h) [ ] A savings association as defined in Section 3(b) of the
Federal Deposit Insurance Act (12 U.S.C. 1813);
(i) [ ] A church plan that is excluded from the definition of an
investment company under section 3(c)(14) of the Investment
Company Act of 1940 (15 U.S.C. 80a-3);
(j) [ ] Group, in accordance with ss.240.13d-1(b)(1)(ii)(J).
Item 4. Ownership.
---------
The following information relates to the reporting person's ownership
of Common Stock, $1.25 par value, of the issuer as of May 23, 2000. All
references to shares of Common Stock reflect a two-for-one stock split payable
on May 20, 2000.
(a) Amount Beneficially Owned:
-------------------------
399,132
(b) Percent of Class:
----------------
5.4%
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CUSIP No. 84470P 10 9 Schedule 13G
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(c) Number of Shares as to Which Such Person Has:
--------------------------------------------
(i) Sole power to vote or to direct the vote:
206,476
(ii) shared power to vote or to direct the vote:
192,656
(iii) sole power to dispose or to direct the disposition of:
206,476
(iv) shared power to dispose or to direct the disposition of:
192,656
Item 5. Ownership of Five Percent or Less of a Class.
--------------------------------------------
If this statement is being filed to report the fact that as of
the date hereof the reporting person has ceased to be the beneficial owner of
more than five percent of the class of securities, check the following [ ].
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
---------------------------------------------------------------
All of the shares reported as beneficially owned in this
Schedule 13G are held by the Reporting Person in a fiduciary capacity for the
benefit of third parties. None of the interests of those third parties relates
to more than five percent of the securities of the Issuer.
Of the 399,132 Shares reported as beneficially owned in this
Schedule 13G, 192,656 shares (the "Plan Shares") are held in the Reporting
Person's capacity as Trustee for the Southside Bancshares Employee Stock
Ownership Plan (the "Plan"). Under the Plan, the Reporting Person has little
discretion with regard to the voting of the Plan Shares. The Reporting Person
votes the Plan Shares as instructed by either the Plan participants or the
Administrative Committee of the Plan, comprised of management of Southside
Bancshares, Inc. (the "Issuer"). The Reporting Person shares the investment
power over the Plan Shares with the Administrative Committee. The Reporting
Person invests in the Issuer's stock at the direction of the Administrative
Committee. The Reporting Person must purchase and maintain in the Plan
sufficient shares of the Issuer's stock to make distributions in accordance with
the Plan Agreement. The Administrative Committee decides the extent to which the
Plan shall be invested
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CUSIP No. 84470P 10 9 Schedule 13G
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in the Issuer's stock. The Administrative Committee also decides the price at
which the Issuer's stock will be purchased or sold.
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on by the Parent Holding Company.
Not Applicable.
Item 8. Identification and Classification of Members of the Group.
---------------------------------------------------------
Not Applicable.
Item 9. Notice of Dissolution of Group.
------------------------------
Not Applicable.
Item 10. Certification.
-------------
By signing below I certify that, to the best of my knowledge
and belief, the securities referred to above were acquired and are held in the
ordinary course of business and were not acquired and are not held for the
purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Date: May 16, 2000
By: /s/ Kathy Hayden
-------------------------
Name/Title: Kathy Hayden,
Vice President and
Trust Officer
