---
schema_version: "secwatch.filing_event.v1"
accession: "0000705432-23-000180"
form_type: "8-K"
ticker: "SBSI"
cik: "0000705432"
company_name: "SOUTHSIDE BANCSHARES INC"
filed_at: "2023-10-26T23:59:59+00:00"
generated_at: "2026-06-09T09:07:31.776888+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Southside Bancshares Q3 net income $18.4M, EPS $0.60, down 28.6% YoY; provision $7.0M; NIM 2.85%

## Summary
- Net income fell 31.5% to $18.4M ($0.60 diluted EPS) from $27.0M ($0.84) in Q3 2022.
- Provision for credit losses totaled $7.0M ($6.3M loans + $0.7M off-balance-sheet), up from $1.5M a year ago.
- Net interest margin (tax-equivalent) shrank to 3.02% from 3.36% YoY; linked-quarter NIM down 15bp due to higher deposit costs.
- Loans grew 2.1% linked quarter to $4.42B; deposits rose 3.8% to $6.35B; nonperforming assets remained low at 0.05% of total assets.
- Repurchased 212,388 shares in Q3 at avg $29.39; post-quarter bought 141,480 shares at avg $28.56 through Oct 24.

## SEC filing metadata
- accession: 0000705432-23-000180
- form_type: 8-K
- ticker: SBSI
- cik: 0000705432
- company_name: SOUTHSIDE BANCSHARES INC
- filed_at: 2023-10-26T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/705432/000070543223000180/0000705432-23-000180-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/705432/000070543223000180/sbsi-20231026.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000705432-23-000180
- JSON: https://secwatch.observer/filing/0000705432-23-000180.json
- Plain text: https://secwatch.observer/filing/0000705432-23-000180.txt

## Key facts
- Earnings Releases
  SOUTHSIDE BANCSHARES INC reported third quarter ended September 30, 2023 results: net income Net income was $18.4 million for the three months ended September 30, 2023.
  - Period: third quarter ended September 30, 2023
  - Net income: Net income was $18.4 million for the three months ended September 30, 2023
  - Result: reported results
  source text: Southside reported net income of $18.4 million for the three months ended September 30, 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/705432/000070543223000180/0000705432-23-000180-index.htm
- Earnings Releases
  SOUTHSIDE BANCSHARES INC reported third quarter ended September 30, 2023 results: net income Net income was $18.4 million for the three months ended September 30, 2023.
  - Period: third quarter ended September 30, 2023
  - Net income: Net income was $18.4 million for the three months ended September 30, 2023
  - Result: reported results
  source text: Earnings per diluted common share decreased $0.24, or 28.6%, to $0.60 for the three months ended September 30, 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/705432/000070543223000180/0000705432-23-000180-index.htm
- Earnings Releases
  SOUTHSIDE BANCSHARES INC reported third quarter ended September 30, 2023 results: net income Net income was $18.4 million for the three months ended September 30, 2023.
  - Period: third quarter ended September 30, 2023
  - Net income: Net income was $18.4 million for the three months ended September 30, 2023
  - Result: reported results
  source text: Net income was $18.4 million for the three months ended September 30, 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/705432/000070543223000180/0000705432-23-000180-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.