Net income was $21.5 million for the three months ended March 31, 2024, compared to $26.0 million for the same period in 2023, a decrease of $4.5 million, or 17.4%. Earnings per diluted common share were $0.71 and $0.83 for the three months ended March 31, 2024 and 2023, respectively. The decrease in net income was primarily a result of the decrease in noninterest income and the increase in noninterest expense. Annualized returns on average assets and average shareholders' equity for the three months ended ...

Form 10-K (Mark One) Table of Contents ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From _______ to _______ Commission file number 000-12247 SOUTHSIDE BANCSHARES, INC. (Exact name of registrant as specified in its charter) (State or Other Jurisdiction of Incorporation or Organi ...

Southside Bancshares, Inc. (NASDAQ:SBSI) Q4 2023 Earnings Call Transcript January 26, 2024 12:00 PM ET Company Participants Lindsey Bailes - VP of IR Lee Gibson - President and CEO Julie Shamburger - CFO Conference Call Participants Graham Dick - Piper Sandler Mark Shutley - KBW Matt Olney - Stephens Inc. Operator Thank you for standing by, and welcome to Southside Bancshares Fourth Quarter and Year-End 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speake ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission file number: 000-12247 SOUTHSIDE BANCSHARES, INC. (Exact name of registrant as specified in its ...

Southside Bancshares, Inc. (NASDAQ:SBSI) Q3 2023 Earnings Conference Call October 26, 2023 12:00 PM ET Company Participants Lindsey Bailes - VP of IR Lee Gibson - President and CEO Julie Shamburger - CFO Conference Call Participants Brady Gailey - KBW Graham Dick - Piper Sandler Matt Olney - Stephens Operator Hello, and welcome to Southside Bancshares, Inc. Third Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a ...

Certain statements of other than historical fact that are contained in this press release and in other written materials, documents and oral statements issued by or on behalf of the Company may be considered to be "forward-looking statements" within the meaning of and subject to the safe harbor protections of the Private Securities Litigation Reform Act of 1995. These forwardlooking statements are not guarantees of future performance, nor should they be relied upon as representing management's views as of a ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission file number: 000-12247 SOUTHSIDE BANCSHARES, INC. (Exact name of registrant as specified in its chart ...

Southside Bancshares, Inc. (NASDAQ:SBSI) Q2 2023 Earnings Conference Call July 25, 2023 12:00 PM ET Company Participants Lindsey Bailes - Vice President of Investor Relations Lee Gibson - President & Chief Executive Officer Julie Shamburger - Chief Financial Officer Conference Call Participants Brady Gailey - KBW Graham Dick - Piper Sandler Brett Rabatin - Hovde Group Matt Olney - Stephens Operator Good day, and thank you for standing by. And welcome to Southside Bancshares, Inc. Second Quarter 2023 Earning ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 1201 S. Beckham Avenue, Tyler, Texas 75701 For the quarterly period ended March 31, 2023 (Address of Principal Executive Offices) (Zip Code) OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission file ...

Financial Data and Key Metrics Changes - The company reported net income of $26 million and earnings per share of $0.83, with a return on average assets of 1.38% and a return on average tangible common equity of 19.36% [18][25] - Net interest income decreased by $3.5 million or 6.1% compared to the linked quarter, while non-interest income, excluding net gains on sales of securities, increased by $997,000 or 9.3% [38] - The tax equivalent net interest margin decreased to 3.21 from 3.40, and the tax equivalent net spread decreased by 33 basis points to 2.62 [32][33] Business Line Data and Key Metrics Changes - The loan portfolio remained consistent at $4.15 billion, with a weighted average rate of new loans funded during the quarter at approximately 6.97% [28] - Deposits decreased by $359.8 million or 5.8% on a linked quarter basis, with over half of the decrease attributed to brokered deposits [27] - The allowance for loan losses as a percentage of total loans was 0.87%, slightly down from 0.88% at the end of the previous quarter [29] Market Data and Key Metrics Changes - The company experienced a 19 basis point decrease in net interest margin due to increased competition for deposits [20] - As of March 31, 2023, 73.5% of deposits were FDIC insured and fully collateralized, with an average balance of $30,000 [23][26] - The securities portfolio increased by $119.9 million or 4.6% on a linked quarter basis, driven by purchases of three-month treasury bills [28] Company Strategy and Development Direction - The company plans to maintain its credit underwriting standards despite losing some loan opportunities due to stringent requirements [19] - The management anticipates high single-digit loan growth for 2023, supported by a healthy pipeline and projected construction loan advances [19][62] - The company is focused on enhancing its liquidity position and managing interest rate risk through the Fed's new bank term funding program [21][31] Management's Comments on Operating Environment and Future Outlook - Management expressed concerns about intense competition for deposits, which is expected to continue [8] - The company is monitoring the economy closely, with increasing chances of a recession, but remains optimistic about the health and growth of the markets it serves [23] - Management indicated that deposit growth will be challenging, with expectations of static deposits being a win in the current environment [50] Other Important Information - The company purchased 457,394 shares of common stock at an average price of $34.89 during the first quarter [32] - The unrealized loss in the available-for-sale (AFS) securities portfolio decreased to $61.9 million from $88.9 million in the previous quarter [30] Q&A Session Summary Question: What is the outlook for loan growth and deposit growth? - Management anticipates high single-digit loan growth for the entire year of 2023, but deposit growth is expected to be challenging due to competition [62] Question: Can you provide details on the securities bought and sold during the quarter? - The company sold primarily municipal and mortgage-backed securities and purchased T-bills, with a focus on managing duration risk [37] Question: What is the current status of the share repurchase program? - The company has approximately 400,000 shares left for repurchase and does not anticipate changes to the current buyback strategy [51][52]