Southside Bancshares(US:SBSI) Globenewswire·2026-01-29 10:45Core Viewpoint - Southside Bancshares, Inc. reported a decrease in net income for both the fourth quarter and the full year of 2025, primarily due to a significant net loss on the sale of available-for-sale securities, despite increases in net interest income and noninterest income categories. Financial Performance Summary - For the fourth quarter ended December 31, 2025, net income was $21.0 million, down from $21.8 million in the same period of 2024, a decrease of 3.7% [3] - Earnings per diluted common share for the fourth quarter were $0.70, compared to $0.71 for the same period in 2024, a decrease of 1.4% [3] - Annual net income for 2025 was $69.2 million, a decrease of 21.8% from $88.5 million in 2024 [10] - Earnings per diluted common share for the year were $2.29, down from $2.91 in 2024, a decrease of 21.3% [10] Net Interest Income and Margin - Net interest income for the fourth quarter was $57.2 million, an increase of 6.6% compared to $53.7 million in the same period of 2024 [4] - The net interest margin increased to 2.98% for the fourth quarter, up from 2.83% in the same period of 2024 [5] - For the year ended December 31, 2025, net interest income was $221.1 million, an increase of 2.3% from $216.1 million in 2024 [11] - The net interest margin for the year increased to 2.81%, compared to 2.74% in 2024 [12] Noninterest Income and Expense - Noninterest income, excluding net losses on sales of AFS securities, was $12.9 million for the fourth quarter, up 5.0% from $12.3 million in 2024 [6] - Noninterest expense decreased to $37.5 million for the fourth quarter, down 1.8% from $38.2 million in 2024 [7] - For the year, noninterest income, excluding net losses on sales of AFS securities, was $48.2 million, an increase of 9.0% from $44.2 million in 2024 [13] - Noninterest expense for the year was $151.4 million, an increase of 2.9% from $147.1 million in 2024 [14] Asset Quality and Allowance for Loan Losses - Nonperforming assets at December 31, 2025, were $38.2 million, or 0.45% of total assets, an increase from $3.6 million, or 0.04% of total assets, at December 31, 2024 [24] - The allowance for loan losses totaled $45.1 million, or 0.94% of total loans, at December 31, 2025, compared to $44.9 million, or 0.96% of total loans, at December 31, 2024 [25] Balance Sheet Highlights - Total assets at December 31, 2025, were $8.51 billion, a slight decrease from $8.52 billion at December 31, 2024 [16] - Loans increased to $4.82 billion, up 3.4% from $4.66 billion at December 31, 2024 [17] - Deposits increased to $6.87 billion, up 3.2% from $6.65 billion at December 31, 2024 [19] Capital Resources and Liquidity - The company repurchased 369,804 shares of common stock at an average price of $28.84 per share during the fourth quarter [22] - Total available contingent liquidity, net of current outstanding borrowings, was $2.78 billion as of December 31, 2025 [23]