---
schema_version: "secwatch.filing_event.v1"
accession: "0000705432-24-000065"
form_type: "8-K"
ticker: "SBSI"
cik: "0000705432"
company_name: "SOUTHSIDE BANCSHARES INC"
filed_at: "2024-04-25T23:59:59+00:00"
generated_at: "2026-06-03T08:41:55.654418+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Southside Bancshares Q1 net income falls 17.4% to $21.5M; EPS $0.71 vs $0.83 YoY

## Summary
- Net income $21.5M, down from $26.0M YoY; diluted EPS $0.71 vs $0.83.
- Net interest margin declined 30 bps to 2.72% from 3.02% YoY; three swaps totaling $120M matured.
- Nonperforming assets rose to 0.10% of assets from 0.04% YoY, driven by one CRE loan and one commercial relationship.
- Efficiency ratio worsened to 57.95% from 53.57% YoY; cost savings plan targets ~$3.5M annual savings beginning Q3 2024.
- Loans grew 10.2% YoY; deposits up 12.1% YoY; dividend maintained at $0.36/share.

## SEC filing metadata
- accession: 0000705432-24-000065
- form_type: 8-K
- ticker: SBSI
- cik: 0000705432
- company_name: SOUTHSIDE BANCSHARES INC
- filed_at: 2024-04-25T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/705432/000070543224000065/0000705432-24-000065-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/705432/000070543224000065/sbsi-20240425.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000705432-24-000065
- JSON: https://secwatch.observer/filing/0000705432-24-000065.json
- Plain text: https://secwatch.observer/filing/0000705432-24-000065.txt

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