Suni Davis
About Suni Davis
Chief Treasury Officer (CTO) at Southside Bancshares, Inc. since September 2024; previously Chief Risk Officer (2016–2024) and Senior Vice President & Investment Officer (2012–2016). Age 49; BBA in Finance and Accounting from UT Tyler; Certified Public Accountant and Certified Enterprise Risk Professional; joined Southside in 1999. Responsibilities span investment accounting, funds management, liquidity, and interest rate risk, with governance roles on Risk Committee and ALCO . Company performance under her risk/treasury tenure: 2024 TSR value of $105.10 on $100 base vs peer $131.64, net income $88.5M, ROATCE 14.92% .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Southside Bancshares, Inc. | Chief Treasury Officer | Sep 2024–Present | Oversees investment accounting, funds management, liquidity, interest rate risk; officer member of Risk Committee and ALCO |
| Southside Bancshares, Inc. | Chief Risk Officer | Jun 2016–Sep 2024 | Led enterprise risk management; risk oversight during industry rate volatility and credit cycle |
| Southside Bancshares, Inc. | SVP & Investment Officer | Dec 2012–Jun 2016 | Managed investment portfolio and asset/liability functions preceding CRO appointment |
| Southside Bancshares, Inc. | Various (joined organization) | 1999–2012 | Progressive roles in risk, investments, and funds management |
External Roles
| Organization | Role/Capacity | Years | Notes |
|---|---|---|---|
| AICPA; Texas Society of CPAs; East Texas Chapter of TXCPA | Member | Ongoing | Professional credentials and accounting standards engagement |
| ABA Risk Management School Board of Advisors | Board Member (2016–2024), then former | To 2024 | Service indicated as “currently serves” in Mar-2024 proxy; “previously served” by Aug-2024 appointment date |
Fixed Compensation
- Individual base salary, target bonus %, and annual cash incentive details are not disclosed; Suni Davis is not listed among the named executive officers covered in the compensation tables (NEOs: CEO, CFO, CCO, COO, President) .
Performance Compensation
Company frameworks that govern executive incentives (CTO-specific terms not individually disclosed):
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Annual Incentive Program (AIP) metrics and 2024 outcomes (used for CEO, CFO, COO, President, CCO): | Metric | Threshold (50%) | Target (100%) | Max (150%) | 2024 Actual | Notes | |---|---:|---:|---:|---|---| | EPS | $2.26 | $2.66 | $4.03 | $2.98 | Net income adjusted for securities losses (tax-effected, $2.0M) | | Loan Growth | 4.00% | 5.00% | 7.00% | 3.00% | Below threshold | | NPAs / Total Assets | 0.12% | 0.05% | 0.03% | 0.04% | Above target; 125% payout on this metric | | ROATCE | 11.70% | 13.77% | 22.13% | 15.25% | Adjusted; 108.9% | | Qualitative Scorecard | — | — | — | Above Target | 130% (CEO/CFO/COO/CCO); 120% (President) |
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Long-Term Equity Incentive Program (company plan): | Instrument | Vesting | Performance Metric | Payout Scale | |---|---|---|---| | RSUs | 3-year, equal annual tranches | Time-based | N/A | | PSUs | Cliff at year 3 | ROATCE percentile vs KBW Nasdaq Regional Bank Index (KRX) | 0% <25th; 50% at 25th; 80% at 40th; 100% at 50th; 120% at 60th; 150% ≥75th |
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Compensation Recoupment Policy (clawback): NYSE/Rule 10D-1 compliant; recovery for erroneously awarded incentive comp; discretionary recoupment for misconduct; applies to executive officers .
Equity Ownership & Alignment
| Date | Transaction | Shares | Notes |
|---|---|---|---|
| Feb 1, 2024 | Grant (equity award) | 1,799 | Reported on late Form 4 filed Feb 9, 2024 |
| Feb 2, 2024 | RSU vest tax withholding | 81 | Shares withheld for taxes; reported late |
| Feb 3, 2024 | RSU vest tax withholding | 71 | Shares withheld for taxes; reported late |
- Shares outstanding at record date (for context, ownership % unavailable): 30,409,265 .
- Anti-hedging/anti-pledging policy: prohibits hedging, short sales, and pledging of Company stock for all executives (alignment positive; pledging red flag mitigated) .
- Executive stock ownership guidelines: “Other Executive Officers” required at one-half of base salary equivalent market value within seven years; counts RSUs toward compliance (excludes options and unearned PSUs) .
Employment Terms
- Not individually disclosed for CTO. Company-wide policies applicable to executive officers:
- Clawback: recovery of incentive-based comp and service-based comp (as applicable) under SEC/NYSE standards .
- Insider trading: policy governs trading windows and compliance; anti-hedging and anti-pledging prohibitions .
Performance & Track Record
Company pay-versus-performance metrics (context for pay-for-performance alignment):
| Metric | 2023 | 2024 |
|---|---|---|
| TSR – Value of $100 Initial Investment | $98.91 | $105.10 |
| Peer Group TSR – Value of $100 | $110.86 | $131.64 |
| Net Income ($ Millions) | $86.7 | $88.5 |
| ROATCE (%) | 16.03% | 14.92% |
Additional 2024 context from CD&A: loans +3.0%, deposits +1.6%, nonperforming assets down to 0.04% of total assets; EPS up $0.09 (3.2%) YoY; net income +$1.8M (2.1%) YoY .
Governance Interfaces
- Risk oversight: Officer member on Company Risk Committee (board-level), supporting ERM and risk appetite governance .
- ALCO/Investment Committee: Officer member, driving asset-liability mix, liquidity, and investment policies .
Compensation Peer Group (Company-level benchmarking)
- 2024/2025 Compensation peer groups (18 banks, assets ~$4.1–$17.5B) used for pay and performance benchmarks; unchanged YoY in 2025 .
Risk Indicators & Red Flags
- Clawback policy in place (mitigates restatement/misconduct risks) .
- Anti-hedging/anti-pledging policy (reduces alignment risks) .
- Late Section 16 reporting: CTO filed one late Form 4 on Feb 9, 2024 for Feb 1 grant and Feb 2–3 tax withholdings (administrative timing issue) .
Investment Implications
- Alignment: Company’s incentive architecture ties long-term equity to relative ROATCE performance and prohibits hedging/pledging, supporting shareholder alignment for treasury/risk leadership .
- Retention risk: CTO-specific employment/severance terms not disclosed; long tenure since 1999 and progression across risk/treasury reduces execution risk; clawbacks and ownership guidelines further embed retention/alignment .
- Trading signals: No indication of pledging/hedging; observed RSU grant and routine tax withholdings; absence of disclosed discretionary selling suggests limited near-term insider selling pressure from CTO, beyond scheduled vestings .
- Performance linkage: 2024 outcomes (EPS, ROATCE, NPAs) exceeded or met AIP thresholds used for NEOs; while CTO participation is not disclosed, the firm-wide results underpin PSU trajectories and treasury/risk execution continuity .