secwatch.observer — SEC 8-K summary
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Issuer:     SOUTHSIDE BANCSHARES INC (SBSI)
CIK:        0000705432
Form:       8-K
Filed at:   2022-04-26T23:59:59+00:00
Accession:  0000705432-22-000059
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/705432/000070543222000059/0000705432-22-000059-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/705432/000070543222000059/sbsi-20220426.htm
  HTML page:      https://secwatch.observer/filing/0000705432-22-000059

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer