secwatch.observer — SEC 8-K summary
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Issuer:     SOUTHSIDE BANCSHARES INC (SBSI)
CIK:        0000705432
Form:       8-K
Filed at:   2024-10-24T23:59:59+00:00
Accession:  0000705432-24-000221
Event type: earnings
Sentiment:  positive
Materiality: 0.55
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Southside Bancshares Q3 net income $20.5M, EPS $0.68, up 13% YoY
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- Net income $20.5M ($0.68 diluted EPS) vs $18.4M ($0.60) a year ago, up 11.2% and 13.3% respectively.
- Net interest income $55.5M (+4.1% YoY); net interest margin 2.82% (tax-equiv. 2.95%), up 8 bps linked quarter.
- Sold $28M of low-yielding municipal securities, recording $1.9M loss; reinvested in higher-yielding agency MBS.
- Nonperforming assets remain low at 0.09% of total assets; allowance for loan losses 0.97% of loans.
- Loan portfolio $4.58B (+3.6% YoY); deposits $6.44B (+1.4% YoY); total assets $8.36B.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/705432/000070543224000221/0000705432-24-000221-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/705432/000070543224000221/sbsi-20241024.htm
  HTML page:      https://secwatch.observer/filing/0000705432-24-000221

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