Southside Bancshares Q3 net income falls 8% to $27M; EPS $0.84 vs $0.90 YoY

SOUTHSIDE BANCSHARES INC

2022-Q3 EPS reported $2.39

Net income $27.0M ($0.84 diluted EPS) vs $29.3M ($0.90) in Q3 2021; net interest income up 15.2% to $55.5M.
Net interest margin (FTE) rose to 3.36% from 3.16% YoY; linked quarter loans ex-PPP grew 2.6%.
Nonperforming assets low at 0.16% of total assets; provision for credit losses was $1.5M vs reversal of $5.1M in Q3 2021.
Dividend declared $0.34 per share unchanged; stock repurchase plan has 685k shares remaining.
Annualized ROA 1.43% vs 1.61% YoY; ROE 14.23% vs 12.89%.

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