Group 1 - Southside Bancshares (SBSI) reported quarterly earnings of $0.71 per share, exceeding the Zacks Consensus Estimate of $0.67 per share, with an earnings surprise of 5.97% [1] - The company posted revenues of $66.43 million for the quarter ended March 2025, missing the Zacks Consensus Estimate by 0.85%, compared to year-ago revenues of $65.81 million [2] - Over the last four quarters, Southside Bancshares has surpassed consensus EPS estimates two times and topped consensus revenue estimates just once [2] Group 2 - The stock has underperformed the market, losing about 10.2% since the beginning of the year, while the S&P 500 declined by 6% [3] - The current consensus EPS estimate for the coming quarter is $0.71 on $68.5 million in revenues, and for the current fiscal year, it is $2.84 on $275.9 million in revenues [7] - The Zacks Industry Rank for Banks - Southwest is currently in the top 5% of over 250 Zacks industries, indicating strong performance potential [8]

First quarter net income of $21.5 million;First quarter earnings per diluted common share of $0.71;Annualized return on first quarter average assets of 1.03%;Annualized return on first quarter average tangible common equity of 14.14%(1); andNonperforming assets remain low at 0.39% of total assets. TYLER, Texas, April 29, 2025 (GLOBE NEWSWIRE) -- Southside Bancshares, Inc. (“Southside” or the “Company”) (NYSE: SBSI) today reported its financial results for the quarter ended March 31, 2025. Southside reported ...

[Financial Performance Summary (Q1 2025)](index=1&type=section&id=Financial%20Performance%20Summary%20(Q1%202025)) Southside Bancshares maintained stable Q1 2025 net income and EPS, showing improved net interest margin and strong capital [Overview of Q1 2025 Results](index=1&type=section&id=Overview%20of%20Q1%202025%20Results) Southside Bancshares reported stable Q1 2025 net income and diluted EPS, with an increased net interest margin and anticipated mid-single-digit loan growth for the full year Key Performance Metrics | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net Income | $21.5 million | $21.5 million | | Diluted EPS | $0.71 | $0.71 | | Return on Average Assets (Annualized) | 1.03% | 1.03% | | Return on Average Shareholders' Equity (Annualized) | 10.57% | 11.02% | | Return on Average Tangible Common Equity (Annualized) | 14.14% | 15.07% | - CEO Lee R. Gibson highlighted a linked-quarter net interest margin increase of **3 basis points to 2.86%** and growth in core deposits (net of public fund and brokered deposits) of **$91.9 million**[3](index=3&type=chunk) - The company anticipates **mid-single-digit loan growth for 2025**, but expects it to be concentrated in the second half of the year due to loan payoffs exceeding projections in Q1[3](index=3&type=chunk) [Detailed Operating Results](index=1&type=section&id=Detailed%20Operating%20Results) Q1 2025 operating results showed slight increases in net interest income, year-over-year growth in noninterest income, and a linked-quarter decrease in noninterest expenses [Net Interest Income (NII)](index=1&type=section&id=Net%20Interest%20Income%20(NII)) Net interest income for Q1 2025 increased to **$53.9 million** year-over-year and linked-quarter, with the tax-equivalent net interest margin rising to **2.86%** Net Interest Income and Margin | Metric | Q1 2025 | Q4 2024 | Q1 2024 | | :--- | :--- | :--- | :--- | | Net Interest Income | $53.9 million | $53.7 million | $53.3 million | | Net Interest Margin (Tax-Equivalent) | 2.86% | 2.83% | 2.86% | - The increase in NII was driven by a lower average rate on interest-bearing liabilities and a higher average balance of interest-earning assets, which offset a decrease in the average yield of those assets[4](index=4&type=chunk) [Noninterest Income](index=1&type=section&id=Noninterest%20Income) Noninterest income for Q1 2025 increased **5.1%** year-over-year to **$10.2 million**, driven by loan sales and trust fees, but decreased **16.8%** linked-quarter due to lower swap fees and AFS security losses - Year-over-year growth was driven by increases in gain on sale of loans and trust fees, partially offset by a higher net loss on the sale of AFS securities[5](index=5&type=chunk) - The linked-quarter decrease was primarily due to a reduction in other noninterest income (specifically swap fee income), a larger net loss on AFS security sales, and lower deposit services income[5](index=5&type=chunk) [Noninterest Expense](index=1&type=section&id=Noninterest%20Expense) Noninterest expense in Q1 2025 increased **0.6%** year-over-year to **$37.1 million** but decreased **2.8%** linked-quarter due to lower salaries and occupancy costs - Compared to Q1 2024, expenses rose due to increases in other noninterest expense and professional fees, which were partially offset by lower salaries and benefits[6](index=6&type=chunk) - Compared to Q4 2024, expenses fell due to decreases in salaries and employee benefits, net occupancy, other noninterest expense, and professional fees[6](index=6&type=chunk) [Balance Sheet Analysis](index=2&type=section&id=Balance%20Sheet%20Analysis) As of March 31, 2025, total assets decreased slightly to **$8.34 billion**, with loans declining **2.0%** linked-quarter to **$4.57 billion**, while total deposits were **$6.59 billion** Balance Sheet Summary | Balance Sheet Item | Mar 31, 2025 | Dec 31, 2024 | Mar 31, 2024 | | :--- | :--- | :--- | :--- | | Total Assets | $8.34 billion | $8.52 billion | $8.35 billion | | Total Loans | $4.57 billion | $4.66 billion | $4.58 billion | | Total Securities | $2.74 billion | $2.81 billion | $2.71 billion | | Total Deposits | $6.59 billion | $6.65 billion | $6.55 billion | [Loan Portfolio](index=2&type=section&id=Loan%20Portfolio) The loan portfolio decreased **2.0%** linked-quarter to **$4.57 billion** in Q1 2025, primarily due to construction loan payoffs, yet the company forecasts mid-single-digit growth for the full year - The linked-quarter loan decrease was mainly due to payoffs in construction loans (-**$79.7 million**) and municipal loans (-**$19.7 million**), which outpaced growth in commercial loans (+**$8.5 million**)[10](index=10&type=chunk) Loan Portfolio by Category | Loan Category | Balance (Mar 31, 2025) | | :--- | :--- | | Commercial Real Estate | $2.58 billion | | 1-4 Family Residential | $741.4 million | | Construction | $458.1 million | | Commercial Loans | $371.6 million | | Municipal Loans | $371.3 million | | Loans to Individuals | $47.6 million | | **Total Loans** | **$4.57 billion** | [Deposits](index=2&type=section&id=Deposits) Total deposits reached **$6.59 billion** at quarter-end, with the cost of total deposits decreasing to **2.26%** and uninsured deposits estimated at **20.8%** after collateralization - The cost of interest-bearing deposits decreased **9 basis points** linked-quarter to **2.83%**, and the cost of total deposits decreased **5 basis points** linked-quarter to **2.26%**[12](index=12&type=chunk) - Estimated uninsured deposits were **40.0%** of total deposits. Excluding collateralized public funds and affiliate deposits, the estimated uninsured and uncollateralized portion was **20.8%**[12](index=12&type=chunk) [Asset Quality](index=2&type=section&id=Asset%20Quality) Asset quality saw nonperforming assets increase significantly to **$32.2 million** or **0.39%** of total assets, primarily due to a restructured commercial real estate loan, while the allowance for loan losses was **0.98%** - Nonperforming assets increased by **$28.6 million** linked-quarter, mainly due to a **$27.5 million** commercial real estate loan being moved to restructured status to allow for an extended lease-up period[16](index=16&type=chunk) Asset Quality Metrics | Metric | Q1 2025 | Q4 2024 | Q1 2024 | | :--- | :--- | :--- | :--- | | Nonperforming Assets | $32.2 million | $3.6 million | $8.0 million | | NPA / Total Assets | 0.39% | 0.04% | 0.10% | | Allowance for Loan Losses / Total Loans | 0.98% | 0.96% | 0.95% | | Net Charge-offs | $0.3 million | $1.0 million | $0.3 million | - The provision for credit losses for loans was **$42,000** in Q1 2025, a significant decrease from **$1.6 million** in Q4 2024 and **$1.2 million** in Q1 2024[18](index=18&type=chunk) [Capital and Liquidity](index=2&type=section&id=Capital%20and%20Liquidity) The company maintained a strong capital position with a Common Equity Tier 1 ratio of **13.44%** and substantial contingent liquidity of **$2.29 billion**, resuming share buybacks post-quarter-end Capital Ratios | Capital Ratio | Mar 31, 2025 | Dec 31, 2024 | | :--- | :--- | :--- | | Common Equity Tier 1 | 13.44% | 13.04% | | Tier 1 Risk-Based Capital | 14.49% | 14.07% | | Total Risk-Based Capital | 17.01% | 16.49% | | Tier 1 Leverage | 9.73% | 9.67% | - Total available contingent liquidity, net of outstanding borrowings, was **$2.29 billion** from sources including FHLB advances and the Federal Reserve Discount Window[15](index=15&type=chunk) - No common stock was repurchased during Q1 2025. However, subsequent to quarter-end, the company purchased **196,419 shares** at an average price of **$26.82**[14](index=14&type=chunk) [Dividends](index=4&type=section&id=Dividends) Southside Bancshares, Inc. continued its return of capital to shareholders by declaring a first-quarter cash dividend of **$0.36 per share** - A cash dividend of **$0.36 per share** was declared on February 6, 2025, and paid on March 6, 2025[20](index=20&type=chunk)

Southside Bancshares (SBSI) Q4 2024 Earnings Call January 29, 2025 12:00 PM ET Company Participants Lindsey Bailes - VP-IRLee Gibson - CEOJulie Shamburger - CFOWoody Lay - Vice PresidentJordan Ghent - Senior Research AssociateTim Mitchell - Equity Research Associate Operator Good day and thank you for standing by. Welcome to the Southside Bancshares 4th Quarter and Year End 2024 Earnings Call. At this time, all participants are in a listen only mode. After the speakers' presentation, there will be a questio ...