Welcome to our dedicated page for Southside Bancshares news (Ticker: SBSI), a resource for investors and traders seeking the latest updates and insights on Southside Bancshares stock.
Southside Bancshares, Inc. reports developments for a Texas bank holding company that owns Southside Bank. News commonly covers quarterly earnings, net interest income and margin trends, loan and deposit activity, credit quality, securities portfolio repositioning, subordinated debt actions, and regular common-stock dividends.
Southside Bank serves individuals and businesses through consumer and commercial loans, mortgages, deposit accounts, treasury management, wealth management, trust services, brokerage services, safe deposit boxes, and online and mobile banking. Company updates also address its branch and ATM/ITM network across East Texas, Southeast Texas, and the greater Dallas/Fort Worth, Austin, and Houston markets.
Southside Bancshares, Inc. (NASDAQ: SBSI) will announce its second quarter financial results on July 22, 2020, before the market opens. The company will hold a conference call at 9:00 a.m. CDT, featuring remarks from Lee R. Gibson, President and CEO, Julie Shamburger, CFO, and Suni Davis, CRO. Analysts are invited to participate in a Q&A session post-discussion. The call can be accessed by phone or via webcast. Southside Bancshares, with approximately $7.27 billion in assets, operates 60 branches and 81 ATMs across East Texas and beyond, serving customers since 1960.
Southside Bancshares (NASDAQ: SBSI) announced the election of Shannon Dacus to its board of directors during the 2020 Annual Meeting. Dacus, an experienced attorney and owner of The Dacus Firm in Tyler, Texas, brings extensive legal knowledge and leadership skills. Previously appointed to the Bank board in March 2020, her community involvement and numerous honors highlight her commitment. The company, with around $7.27 billion in assets as of March 31, 2020, operates 60 branches and offers a variety of financial services.
The Board of Directors of Southside Bancshares (NASDAQ:SBSI) has announced a cash dividend of $0.31 per common share, set to be paid on June 4, 2020. Shareholders on record by May 21, 2020 will receive this dividend. As of March 31, 2020, Southside Bancshares reported assets of approximately $7.27 billion and operates 60 branches across East and Southeast Texas, Dallas/Fort Worth, and Austin, offering diverse financial products.
Southside Bancshares (SBSI) reported a net income of $4.0 million for Q1 2020, a dramatic drop of 79% from the previous year. Earnings per share fell to $0.12, down 78.6%. The company recorded a provision for credit losses of $25.2 million due to COVID-19's economic impact. Loans increased 0.9% to $3.60 billion, while nonperforming assets decreased to 0.24%. The tax-equivalent net interest margin rose to 3.03%. The bank processed approximately 2,000 PPP loans totaling over $300 million, highlighting its commitment to supporting local businesses.
Summary not available.