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                                                                      EXHIBIT 11

                           SOUTHSIDE BANCSHARES CORP.

                   COMPUTATION OF NET INCOME PER COMMON SHARE

<TABLE>
<CAPTION>                                                                                 
                                                                                                 Year Ended December 31,
                                                                                                   1997              1996
                                                                                                ----------        ---------
<S>                                                                                             <C>             <C>
Primary  Earnings Per Common Share (1)
                                     
          Net Income   . . . . . . . . . . . . . . . . . . . . . . . . . . .                    $1,498,000         $1,548,000   
                                                                                                 =========        ===========   
          Weighted daily average number of common shares outstanding   . . .                     2,737,671          2,668,965   
                                                                                                 =========          =========   
          Net income per common share  . . . . . . . . . . . . . . . . . . .                          $.55               $.58    
                                                                                                       ===                ===    
                                                                                                                                 
Fully Diluted Earnings Per Common Share (1) (2)                                                                        

         Net Income  . . . . . . . . . . . . . . . . . . . . . . . . . . . .                    $1,498,000         $1,548,000   
                                                                                                 =========          =========   
         Weighted daily average number of common shares outstanding    . . .                     2,737,671          2,668,375   
                                                                                                                                
Weighted average common stock equivalents due to the dilutive                                                         
effect of stock options when utilizing the Treasury stock method.                                                      
Per share market price is based on the average per share market                                                        
price for the period.  . . . . . . . . . . . . . . . . . . . . . . . . . . .                        25,744              7,410   
                                                                                                 ---------          ---------   
Total weighted average common shares and stock equivalents                                                             
outstanding  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                     2,763,415          2,676,375   
                                                                                                 =========          =========   
                                                                                                                       
                                                                                                                       
Net income per common share assuming full                                                                              
dilution  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                         $.54               $.58   
                                                                                                      ====               ====   
</TABLE>

Notes:  

(1) Daily average shares outstanding for all years have been adjusted to reflect
a 10 for 1 stock split in 1996.
        
(2) This calculation is submitted in accordance with Regulation S-K Item 801
(b)(11) although not required by footnote 2 to paragraph 14 of APB Opinion No.
15 because it results in dilution of less than 3%.
        




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