secwatch.observer — SEC 8-K summary
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Issuer:     SOUTHSIDE BANCSHARES INC (SBSI)
CIK:        0000705432
Form:       8-K
Filed at:   2024-01-26T23:59:59+00:00
Accession:  0000705432-24-000011
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Southside Bancshares Q4 net income $17.3M, EPS $0.57; sells $388M securities, takes $10.4M loss
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- Net income $17.3M ($0.57 EPS) vs $27.7M ($0.87) in Q4 2022, down 37.4% YoY.
- Sold ~$388M of lower-yielding securities, recording a $10.4M net loss; proceeds reinvested.
- Net interest income $54.5M, down 4.1% YoY; net interest margin 2.83% vs 3.19%.
- Loans grew 2.3% linked Q to $4.52B; deposits +3.2% to $6.55B; NPAs at 0.05% of assets.
- Full year net income $86.7M ($2.82 EPS) vs $105.0M ($3.26); dividend $0.35 + $0.02 special.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/705432/000070543224000011/0000705432-24-000011-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/705432/000070543224000011/sbsi-20240126.htm
  HTML page:      https://secwatch.observer/filing/0000705432-24-000011

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