Southside Bancshares Q1 net income $26M, EPS $0.83, NPA ratio drops to 0.04%

SOUTHSIDE BANCSHARES INC

2023-Q1 EPS reported $0.83

Net income rose 4.2% YoY to $26.0M; diluted EPS $0.83 vs $0.77.
Net interest income $53.4M (+9.1% YoY); net interest margin 3.02%.
Deposits $5.84B, down 5.8% linked quarter; uninsured deposits 26.5% of total.
Nonperforming assets fell 72% to $3.2M, or 0.04% of total assets.
Repurchased 457k shares at avg $34.89 in Q1; 177k additional shares through Apr 20.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

SOUTHSIDE BANCSHARES INC reported First quarter ended March 31, 2023 results: net income $26.0 million, EPS $0.83.

Period: First quarter ended March 31, 2023
Net income: $26.0 million
EPS: $0.83
Result: reported results

Exact text from the filing

First quarter net income of $26.0 million; • First quarter earnings per diluted common share of $0.83;

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Source: SEC EDGAR

accession 0000705432-23-000075

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