secwatch.observer — SEC 8-K summary
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Issuer:     SOUTHSIDE BANCSHARES INC (SBSI)
CIK:        0000705432
Form:       8-K
Filed at:   2022-10-25T23:59:59+00:00
Accession:  0000705432-22-000157
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/705432/000070543222000157/0000705432-22-000157-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/705432/000070543222000157/sbsi-20221025.htm
  HTML page:      https://secwatch.observer/filing/0000705432-22-000157

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