secwatch.observer — SEC 8-K summary
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Issuer:     SOUTHSIDE BANCSHARES INC (SBSI)
CIK:        0000705432
Form:       8-K
Filed at:   2023-10-26T23:59:59+00:00
Accession:  0000705432-23-000180
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/705432/000070543223000180/0000705432-23-000180-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/705432/000070543223000180/sbsi-20231026.htm
  HTML page:      https://secwatch.observer/filing/0000705432-23-000180

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