secwatch.observer — SEC 8-K summary
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Issuer:     SOUTHSIDE BANCSHARES INC (SBSI)
CIK:        0000705432
Form:       8-K
Filed at:   2025-04-29T23:59:59+00:00
Accession:  0000705432-25-000072
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Southside Q1 net income flat at $21.5M, EPS $0.71; NPAs surge to $32.2M
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- EPS $0.71 flat YoY; ROAA 1.03%; net interest margin 2.74% (up 2bp YoY).
- Nonperforming assets surged to $32.2M (0.39% of assets) from $3.6M at Dec 2024; driven by a $27.5M restructured CRE loan.
- Loans fell 2.0% linked quarter to $4.57B; deposits down 1.0% to $6.59B.
- Provision for credit losses on loans only $42k; allowance 0.98% of loans; classified loans rose to $67M from $48M.
- After quarter-end, repurchased 196,419 shares at avg $26.82; dividend unchanged at $0.36.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/705432/000070543225000072/0000705432-25-000072-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/705432/000070543225000072/sbsi-20250429.htm
  HTML page:      https://secwatch.observer/filing/0000705432-25-000072

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