Curtis Burchard
About Curtis Burchard
Curtis Burchard is Chief Lending Officer (CLO) of Southside Bancshares, Inc. (SBSI) and Southside Bank, serving as an advisory director, with responsibility for oversight of all lending activities across the Company’s market areas; he has held the CLO role since June 2024 and joined Southside in July 2023 as Senior Executive Vice President . He was appointed CLO as part of succession planning following the retirement of the prior CLO, effective April 15, 2024, and is currently age 63 per the 2025 proxy (age 62 at appointment disclosure in March 2024) . Burchard previously led Commercial Real Estate and Homebuilding at Texas Capital Bank (2018–2023) and held senior leadership roles in Commercial Banking/Real Estate/Homebuilding/Credit at Compass Bank/BBVA (1990–2018), bringing over 40 years of commercial banking experience and Texas market expertise . Company performance during his initial tenure reflects improved profitability and asset quality: in 2024 ROE was 11.03%, ROA 1.06%, net income rose $1.8 million (+2.1%), EPS increased $0.09 (+3.2%), loans grew 3.0%, deposits grew 1.6%, and nonperforming assets fell to 0.04% of total assets .
Company performance context (TSR, ROATCE, Net Income):
| Metric | 2023 | 2024 |
|---|---|---|
| Value of $100 Investment (Company TSR) | $98.91 | $105.10 |
| Net Income ($USD Millions) | $86.7 | $88.5 |
| ROATCE (%) | 16.03% | 14.92% |
2024 business KPIs:
| Metric | 2024 |
|---|---|
| Return on Avg Shareholders’ Equity (ROE) | 11.03% |
| Return on Avg Assets (ROA) | 1.06% |
| Net Income YoY Change | +$1.8M (+2.1%) |
| Diluted EPS YoY Change | +$0.09 (+3.2%) |
| Loan Growth | +3.0% |
| Deposit Growth | +1.6% |
| Nonperforming Assets / Total Assets | 0.04% |
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Texas Capital Bank | Head of Commercial Real Estate; Head of Real Estate (Commercial Real Estate and Homebuilding) | 2018–2023 | Led CRE and homebuilding verticals across metro markets; brought sector-specific lending expertise |
| Compass Bank / BBVA | Senior leadership in Commercial Banking, Commercial Real Estate, Homebuilding, and Credit (multi-state) | 1990–2018 | Built multi-state commercial lending franchises; credit leadership and portfolio oversight |
| Southside Bank | Senior Executive Vice President | Jul 2023–Jun 2024 | Prepared succession into CLO role; advisory director integration |
| Southside Bancshares, Inc. & Southside Bank | Chief Lending Officer; Advisory Director (Southside Bank) | Since Jun 2024 | Company-wide lending oversight across all market areas; credit governance participation |
External Roles
- No external public company directorships or committee roles are disclosed in Burchard’s executive biography or appointment 8-K; filings list internal advisory directorship at Southside Bank only .
Fixed Compensation
- Not disclosed for Burchard in the 2025 proxy’s NEO tables (CLO not a named executive officer for 2024); base salary, bonus, perquisites, and retirement details are not itemized for him .
Performance Compensation
- Program design reference (company-level): SBSI’s Annual Incentive Program (AIP) for senior executives uses quantitative measures (EPS, Loan Growth, ROATCE, and for CCO NPAs/Assets) at 75% total weighting, plus a qualitative scorecard at 25%; payouts range 50%–150% of target; targets are a % of base salary and are set by the Compensation Committee each year . Historical participation included the CLO position in 2023 (then held by Tim Alexander); the 2024 NEO group did not include the CLO, and Burchard’s specific targets or payouts are not disclosed .
Long-term equity program overview:
- Equity awards under the 2017 Incentive Plan are 50% PSUs (3-year cliff vest, earned 0%–150% vs ROATCE percentile vs KBW KRX) and 50% RSUs (3-year ratable vest), with clawback (recoupment) policy adopted per NYSE/SEC Rule 10D-1; the company has not granted stock options in recent years .
Equity Ownership & Alignment
- Stock ownership guidelines require the CLO to hold Company stock equal to 2x base salary, with a five-year encouraged compliance window; shares counted include owned shares (ESOP/401k/IRAs/trusts) and outstanding RSUs, excluding unexercised options and unearned PSUs .
- Anti-hedging/anti-pledging policy prohibits hedging transactions, short sales, and pledging Company securities (including margin accounts), addressing alignment and selling-pressure risks .
- Burchard serves on the Investment/Asset-Liability Committee (ALCO), alongside senior officers, contributing to balance sheet and funding oversight that ties directly to lending strategy and credit risk management .
Stock ownership and policy summary:
| Item | Disclosure |
|---|---|
| Stock Ownership Guideline (CLO) | 2x Base Salary |
| Compliance Window | 5 years encouraged for CLO |
| Hedging/Pledging | Prohibited for executives |
| Option Grants Practice | None in recent years (no new NQSOs) |
Employment Terms
- Individual employment agreement, severance, and change-of-control terms for Burchard are not disclosed; the 2024–2025 proxies list agreements for CEO, CFO, CCO, COO, and President only .
- Equity award agreements provide accelerated or pro-rata vesting upon death, disability, retirement, or certain change-in-control conditions when awards are not assumed, but such provisions are described generally for award holders and not specifically for Burchard .
Investment Implications
- Compensation alignment: The CLO is subject to 2x base salary ownership guidelines and prohibited from hedging/pledging, which reduces misalignment and forced-selling risk; clawback policy further strengthens governance signals .
- Retention risk: Absence of a disclosed employment agreement for Burchard indicates standard retention levers are equity policies and organizational role scope rather than contractual severance; monitor future 8-Ks or proxy updates for any agreement adoption .
- Performance linkage: Company AIP and PSUs tie variable pay to EPS/ROATCE/Loan Growth and ROATCE percentile vs peers, directly linking lending performance quality and returns to incentives; while Burchard’s specific targets are not disclosed, the role’s responsibilities and ALCO membership suggest strong exposure to these metrics .
- Execution risk and credit quality: 2024 results improved despite rate/credit headwinds (ROE 11.03%, ROA 1.06%, NPAs 0.04%); sustaining loan growth with high asset quality is a core lever under CLO oversight; track quarterly trends and any Form 4 activity for insider sentiment .
- Trading signals: Anti-pledging reduces collateral-driven selling risk; lack of option grants reduces repricing risk; without disclosed Form 4 transactions for Burchard in the filings reviewed, near-term insider pressure signals are limited—continue monitoring Item 5.02 and Section 16 filings .
Notes: Executive biography confirms Burchard’s role, tenure, and background; company-level performance metrics and incentive design provide context for pay-for-performance and alignment; individual CLO compensation details are not itemized in the 2025 proxy.
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