Southside Bancshares Q1 net income $25M, EPS $0.77 down 26.7% YoY

SOUTHSIDE BANCSHARES INC

2022-Q1 EPS reported $0.77

Net income $25M ($0.77 diluted EPS) vs $34.1M ($1.04) in Q1 2021, down 26.7%.
Loan growth ex-PPP of 8.3% YoY and 4.8% linked quarter; total loans $3.80B.
Nonperforming assets low at 0.16% of total assets; allowance for loan losses 0.93%.
Net interest margin 3.03% (3.22% tax-equiv) vs 3.01% YoY; noninterest income down 21.3% on securities loss.
Board authorized repurchase of up to 1M shares; bought 82,285 shares in Q1, additional 139,737 post-quarter.

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