Southside Bancshares Q4 net income $27.7M, EPS $0.87; net interest margin expands to 3.19%

SOUTHSIDE BANCSHARES INC

2022-FY EPS reported $3.26

Net income $27.7M, EPS $0.87 (down 1.1% YoY); full-year EPS $3.26 vs $3.47.
Loans grew 2.1% linked quarter; net interest margin (FTE) increased to 3.40% from 3.36% linked quarter.
Nonperforming assets at 0.14% of total assets; allowance for loan losses $36.5M (0.88% of loans).
Board increased stock repurchase authorization by 1.0M shares; repurchased 608,976 shares at avg $35.03 in Q4.
Quarterly cash dividend $0.34 plus special dividend $0.04 per share declared.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

SOUTHSIDE BANCSHARES INC reported the quarter and year ended December 31, 2022 results: net income $27.7 million, EPS $0.87.

Period: the quarter and year ended December 31, 2022
Net income: $27.7 million
EPS: $0.87
Result: reported results

Exact text from the filing

Southside reported net income of $27.7 million for the three months ended December 31, 2022, a decrease of $1.0 million, or 3.6%, compared to $28.7 million for the same period in 2021. Earnings per diluted common share decreased $0.01, or 1.1%, to $0.87 for the three months ended December 31, 2022, from $0.88 for the same period in 2021.

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Source: SEC EDGAR

accession 0000705432-23-000005

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