Southside Bancshares Inc Stock Price, News & Analysis

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.

Southside Bancshares, Inc. (NASDAQ:SBSI) announced a Stock Repurchase Plan allowing the company to buy back up to 1 million shares of its common stock. This initiative, authorized by the Board of Directors, aims to enhance shareholder value and demonstrates the company's confidence in its financial health. The repurchases can be executed through various methods, including open market purchases, and can be suspended or discontinued at any time. As of December 31, 2021, Southside Bancshares had approximately $7.26 billion in assets and operates 56 branches across Texas.

The Board of Directors of Southside Bancshares (NASDAQ:SBSI) has approved a 3.0% increase in the regular quarterly cash dividend, raising it from $0.01 to $0.34 per common share. This dividend is set for payment on March 3, 2022, to shareholders of record on February 17, 2022. CEO Lee R. Gibson emphasized the positive economic conditions and the company's strong balance sheet as reasons for the dividend increase. As of December 31, 2021, Southside Bancshares had approximately $7.26 billion in assets, operating 56 branches across Texas.

Southside Bancshares, Inc. (SBSI) reported a fourth quarter net income of $28.7 million, down 3.0% year-over-year. For the year ended December 31, 2021, net income reached a record $113.4 million, a 38.0% increase compared to 2020. Key metrics included annualized returns on average assets at 1.59% and tangible common equity at 17.04%. Loan growth was 5.0% (net of PPP loans) while deposits rose by 16.0%. However, the efficiency ratio increased slightly to 51.74% for the year. Nonperforming assets decreased to 0.16% of total assets.

Southside Bancshares, Inc. (NASDAQ: SBSI) will release its fourth quarter and year-end financial results on January 28, 2022, before the market opens. The results will be discussed in a conference call at 11:00 a.m. CST, featuring CEO Lee R. Gibson, CFO Julie Shamburger, and VP Lindsey Bailes. Investors can access the call by dialing 844-775-2540 with conference ID 5753376 or via a webcast. Southside Bancshares holds approximately $7.14 billion in assets and operates 56 branches across Texas, offering a range of financial services.

Southside Bancshares, Inc. (NASDAQ:SBSI) announced the appointment of Alton L. Frailey to its board of directors, effective January 1, 2022. This expands the board to 17 members, while the Bank's board will increase to 18 members. Frailey brings over 35 years of experience in education and executive leadership, previously serving as superintendent for Katy Independent School District. His leadership roles include chairing the Board of Regents at Stephen F. Austin State University. The company aims to leverage his expertise for enhanced governance.

Southside Bancshares, Inc. (SBSI) announced a regular quarterly cash dividend of $0.33 and a special cash dividend of $0.06 per common share, amounting to a total of $0.39 per share. This marks the 18th consecutive year of special cash dividends for shareholders. The dividends are scheduled for payment on December 9, 2021, to shareholders of record as of November 24, 2021. The total cash dividend for 2021 increased by 5.4% to $1.37 from $1.30 in 2020, highlighting the company’s strong capital position and performance.