Southside Bancshares Q2 net income $21.3M, EPS $0.65; plans $100M sub debt redemption

SOUTHSIDE BANCSHARES INC

2021-Q2 EPS reported $1.69

Q2 net income $21.3M ($0.65 diluted EPS), flat versus $21.6M ($0.65) in Q2 2020.
Net interest income $45.6M, down 3.4% YoY; net interest margin 2.86% (up 2 bps YoY).
Nonperforming assets 0.21% of total assets, down from 0.24% a year ago.
Anticipates redemption of $100M 5.5% sub debt on Sept 30, 2021, pending regulatory approval.
Deposits $5.16B (+1.7% YoY); loans $3.64B (-5.5% YoY, partly due to PPP forgiveness).

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