Southside Bancshares Q3 net income $29.3M, EPS $0.90; NIM expands to 3.16%

SOUTHSIDE BANCSHARES INC

2021-Q3 EPS reported $2.59

Net income $29.3M ($0.90 diluted EPS) vs $27.1M ($0.82) in Q3 2020, +8.2% YoY.
Net interest margin (TE) increased to 3.16% from 3.02% YoY; annualized ROAA of 1.61%.
Annualized linked-quarter loan growth ex-PPP 7.9%; deposit growth 13.5%; NPA ratio 0.17%.
Redeemed $100M 5.50% subordinated notes due 2026, incurring $1.1M loss in Q3.
Completed share repurchase plan with 420,204 shares bought in Q3 at avg $36.74.

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