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Southside Bancshares Inc, the holding company for Southside Bank, is headquartered in Tyler, Texas. With approximately $4.9 billion in assets, Southside is the ninth-largest bank headquartered in Texas by deposits. The company operates 64 banking facilities across East, North, and Central Texas, along with a network of over 70 local ATMs and more than 55,000 affiliated foreign ATMs worldwide.
Established in 1960, Southside Bank is a community-focused financial institution that offers a comprehensive range of financial services to individuals, businesses, and nonprofit organizations. These services include consumer and commercial loans, mortgages, loans to municipalities, personal, small business and commercial deposit accounts, safe deposit boxes, business services, credit cards, ATMs, trust and wealth management, brokerage services, and various online and mobile services.
Southside Bancshares generates revenue through interest income, gains on the sale of assets, and fee income, which helps to maintain its stable financial condition. The bank is well-regarded for its customer-centric approach and commitment to the communities it serves.
Recent achievements include notable growth in both asset size and branch network, evidence of its commitment to expanding its reach and serving more communities. Southside Bancshares also places a strong emphasis on technological advancements, regularly updating its online and mobile banking platforms to provide a seamless banking experience for its users.
Partnerships with other financial institutions and businesses amplify Southside's ability to offer a diverse range of services. As a Member FDIC and Equal Housing Lender, Southside Bancshares ensures the highest standards of financial security and fairness in its lending practices.
Overall, Southside Bancshares Inc continues to play a significant role in the financial landscape of Texas, known for its robust service offerings and community-oriented banking approach.
The Board of Directors of Southside Bancshares, Inc. (NASDAQ:SBSI) has declared a quarterly cash dividend of $0.34 per common share, along with a special cash dividend of $0.04, totaling $0.38. This combined dividend is scheduled for payment on December 8, 2022, to shareholders recorded on November 23, 2022. CEO Lee R. Gibson emphasized the company's strong financial performance and commitment to shareholder returns, marking a consistent history of annual dividend increases.
Southside Bancshares reported a net income of $27.0 million for Q3 2022, an 8.0% decrease from $29.3 million in Q3 2021. Earnings per share fell 6.7% to $0.84. Despite these declines, the bank experienced a 10.1% loan growth linked quarter and a 34.5% increase in net interest income, reaching $55.5 million. The net interest margin rose to 3.15%, and nonperforming assets remained low at 0.16%. The bank's total assets increased to $7.45 billion. Southside declared a cash dividend of $0.34 per share in Q3 2022.
Southside Bancshares, Inc. (NASDAQ: SBSI) will announce its third quarter financial results on October 25, 2022, before market opening. The company will host a conference call at 11:00 a.m. CDT on the same day, featuring President and CEO Lee R. Gibson, CFO Julie Shamburger, and CRO Suni Davis. Interested participants can register for the call through an online form for seamless access. A recording of the call will be available on the company’s investor relations website for 30 days after the event. Southside has approximately $7.61 billion in assets, operating 56 branches across Texas.
The Board of Directors of Southside Bancshares, Inc. (NASDAQ:SBSI) has declared a quarterly cash dividend of $0.34 per common share. This dividend is set for payment on September 1, 2022, to stockholders on record as of August 18, 2022. As of June 30, 2022, Southside Bancshares reported approximately $7.61 billion in total assets and operates 56 branches across Texas. The company is recognized for providing a comprehensive range of financial services, including loans, deposit accounts, and wealth management.
Southside Bancshares reported a net income of $25.4 million for Q2 2022, marking a 19.2% increase from $21.3 million in Q2 2021. Earnings per share rose 21.5% to $0.79. Loan growth was strong, with a 4.6% increase from the previous quarter. The annualized return on average assets improved to 1.42%, and the net interest margin reached 3.30%. However, noninterest income decreased by 16.8% year-over-year to $9.1 million, primarily due to net losses on available-for-sale securities.
Southside Bancshares, Inc. (NASDAQ:SBSI) has been recognized as one of the 'Top 25 Banks' in America by Bank Director, based on its strong 2021 financial performance. The ranking analyzed 300 publicly traded banks using key metrics such as profitability, capital adequacy, and total shareholder return. Southside's commitment to excellence over its 60-year history has contributed to this achievement, demonstrating its focus on customers, communities, and shareholders.
Southside Bancshares, Inc. (NASDAQ: SBSI) will release its Q2 financial results on July 25, 2022, before market opening. A conference call led by CEO Lee R. Gibson and CFO Julie Shamburger will follow at 11:00 a.m. CDT to discuss the results and host a Q&A session for analysts. Southside Bancshares has approximately $7.12 billion in assets as of March 31, 2022, and operates 56 branches across Texas, providing various financial services to individuals and businesses.
The Board of Directors of Southside Bancshares, Inc. (NASDAQ:SBSI) has declared a regular quarterly cash dividend of $0.34 per common share. The dividend will be paid on June 2, 2022, to shareholders of record as of May 19, 2022. Southside Bancshares, headquartered in Tyler, Texas, manages approximately $7.12 billion in assets and operates 56 branches across East Texas and major metropolitan areas, offering a wide range of financial products and services since 1960.
Southside Bancshares, Inc. (SBSI) reported a net income of $25.0 million for Q1 2022, a decrease of 26.7% from $34.1 million in Q1 2021. Earnings per diluted share were $0.77, down from $1.04 year-over-year. Despite these declines, the company achieved a linked quarter loan growth of 4.8% and maintained low nonperforming assets at 0.16% of total assets. Net interest income increased by 5.6% to $48.9 million, and deposits rose by 19.2% year-over-year to $6.07 billion.
Southside Bancshares, Inc. (NASDAQ: SBSI) will announce its first quarter 2022 financial results on April 26, 2022, before market opening. A conference call will follow at 11:00 a.m. CST with CEO Lee R. Gibson, CFO Julie Shamburger, and VP Lindsey Bailes. Participants can access the call by dialing 844-775-2540 or registering online. A recording will be available on the company’s website post-call. Southside Bancshares, headquartered in Tyler, Texas, holds approximately $7.26 billion in assets and operates 56 branches.
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