| --- | --- | --- | --- | |---------------------------------------------------------------------|------------------------------------|-------|-------------| | | Six Months Ended \nJune 30, \n2024 | | 2023 | | Income Statement: | | | | | Total interest income | $ 206,944 | | $ 167,724 | | Total interest expense | 99,988 | | 60,455 | | Net interest income | 106,956 | | 107,269 | | Provision for (reversal of) credit losses | (427 | ) | (114 | | Net interest income after provision for (reversal of) credit losse ...

About Southside Bancshares, Inc. Those interested in participating in the question and answer session, or others who prefer to call-in, can register using this online form to receive the dial-in number and unique code to access the conference call seamlessly. While not required, it is recommended that those wishing to participate register 10 minutes prior to the conference call to ensure a more efficient registration process. The call will be hosted by Lee R. Gibson, CEO, Julie Shamburger, CFO, and Suni Dav ...

Core Viewpoint - Southside Bancshares, Inc. will release its second quarter financial results on July 25, 2024, and will host a conference call to discuss these results [1][2]. Group 1: Financial Results Announcement - The financial results for the second quarter will be announced before the market opens on July 25, 2024 [1]. - A conference call will take place on the same day at 11:00 a.m. CDT to discuss the results [1][2]. Group 2: Conference Call Details - The call will be hosted by CEO Lee R. Gibson, CFO Julie Shamburger, and CRO Suni Davis, followed by a Q&A session for analysts [2]. - Participants can access the conference call via webcast or by registering for a dial-in number [3][4]. - A recording of the conference call will be available for at least 30 days after the event [5]. Group 3: Company Overview - Southside Bancshares, Inc. is headquartered in Tyler, Texas, with approximately $8.35 billion in assets as of March 31, 2024 [6]. - The company operates 54 branches and a network of 73 ATMs/ITMs across East Texas and major metropolitan areas [6]. - Southside Bank offers a comprehensive range of financial products and services, including loans, mortgages, deposit accounts, and wealth management [6].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION 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 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 March 31, 2024 (Address of Principal Executive Offices) (Zip Code) Indicate by check mark wh ...

Financial Data and Key Metrics Changes - The company reported a net income of $21.5 million for Q1 2024, an increase of $4.2 million, or 24.2%, compared to the previous quarter [6] - Diluted earnings per share rose by 24.6% to $0.71 linked quarter [6] - Return on average tangible common equity was 15.07% [10] - Net interest margin decreased by 13 basis points to $286 from $299 [18] - Non-interest income, excluding net loss on sales of AFS securities, decreased by $30.1 million, or 24.4% [19] Business Line Data and Key Metrics Changes - Loan growth for the quarter was $52.9 million, or 1.2% linked quarter, with an annualized growth rate of 4.7% [6] - Commercial real estate loans increased by $244.9 million, while construction loans decreased by $190.3 million [6] - The average interest rate on loans funded during the quarter was approximately 7.8% [13] Market Data and Key Metrics Changes - Loans with oil and gas industry exposure were $114 million, or 2.5% of total loans [13] - The allowance for credit losses decreased by $229,000 to $46.4 million [13] - Non-performing assets increased to $8 million from $4 million, representing 0.10% of total assets [13] Company Strategy and Development Direction - The company is implementing a new five-year strategic plan focusing on revenue opportunities and cost containment [11] - Anticipated annualized cost savings of approximately $3.5 million are expected, with 80% reflected beginning in Q3 2024 [11] - The company is exploring additional revenue opportunities, particularly in non-interest income, and is focusing on IT-related initiatives [47] Management's Comments on Operating Environment and Future Outlook - Management anticipates ongoing deposit pricing pressure without Fed interest rate cuts, but expects loan growth to partially mitigate further net interest margin compression [4] - The company is not expecting significant changes in the economic environment, with a view of "higher for longer" interest rates [26] - Management expressed confidence in the loan pipeline and the health of the markets served [10] Other Important Information - The securities portfolio increased by $108.8 million, or 4.2% on a linked quarter basis [14] - The company experienced a slight decrease in deposits by 0.06%, or $3.9 million [17] - The effective tax rate increased to 17.7% for Q1 2024, up from 11.3% in the previous quarter [21] Q&A Session Summary Question: Expense reductions details - Management indicated that expense reductions were largely personnel-related but are also evaluating other areas for potential adjustments [25] Question: Bond portfolio strategy - Management noted that they are looking for opportunities in the bond portfolio but currently have no significant plans [27] Question: Core fees outlook - Management expects core fees to potentially return to the $10 million range, with some fluctuations due to seasonal factors [38] Question: Credit quality and non-performing assets - Management provided updates on two large commercial relationships, indicating positive developments in loan payoffs [46] Question: Five-year strategic plan initiatives - Management highlighted ongoing discussions about revenue opportunities and IT-related initiatives as part of the strategic plan [47]

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 ...