Southside Bancshares Inc Stock Price, News & Analysis

Southside Bancshares, Inc. (NASDAQ: SBSI) will release its third-quarter financial results on October 26, 2021, before the market opens. A conference call will take place at 11:00 a.m. CDT to discuss the results, featuring executives including President and CEO Lee R. Gibson. The call can be accessed via dial-in or webcast. A recording will be available post-call until November 7, 2021. Southside Bancshares, headquartered in Tyler, Texas, has approximately $7.18 billion in assets and operates 55 branches across East Texas and major Texas cities.

Southside Bancshares, Inc. (NASDAQ:SBSI) has announced a redemption notice for its 5.50% Fixed-to-Floating Rate Subordinated Notes due 2026, totaling $100 million. The redemption will be effective on September 30, 2021, with interest ceasing after this date. CEO Lee R. Gibson noted the redemption aims to reduce funding costs and enhance earnings due to the current interest rate environment. The company, headquartered in Tyler, Texas, manages approximately $7.18 billion in assets and operates 55 branches across East Texas and other regions.

The Board of Directors of Southside Bancshares, Inc. (NASDAQ:SBSI) has declared a quarterly cash dividend of $0.33 per common share. This dividend is set to be paid on September 2, 2021, to shareholders recorded by August 19, 2021. As of June 30, 2021, Southside Bancshares, with approximately $7.18 billion in assets, operates 55 branches in East Texas and surrounding areas, offering comprehensive financial services.

Southside Bancshares reported a net income of $21.3 million for Q2 2021, a 1.1% decline from $21.6 million in Q2 2020. Earnings per diluted share remained steady at $0.65. The bank achieved 5.0% annualized linked quarter deposit growth and maintained nonperforming assets at a low 0.21% of total assets. However, net interest income fell to $45.6 million, down 3.4% year-over-year. The annualized return on average assets and equity were 1.20% and 9.73%, respectively, reflecting a modest operational performance.

Southside Bancshares, Inc. (NASDAQ: SBSI) will report its second quarter financial results before the market opens on July 23, 2021. A conference call to discuss these results will take place at 11:00 a.m. CST on the same day, hosted by key executives including CEO Lee R. Gibson and CFO Julie Shamburger. Participating analysts can access the call by dialing 844-775-2540 using conference ID 7053989. Southside Bancshares, with approximately $7.0 billion in assets, serves customers across East Texas and major metro areas, offering a wide range of banking products and services.

Southside Bancshares, Inc. (NASDAQ:SBSI) announced a 3.1% increase in its quarterly cash dividend, raising it from $0.32 to $0.33 per share. This dividend will be paid on June 3, 2021, to shareholders of record by May 20, 2021. CEO Lee R. Gibson emphasized the company's commitment to providing value to shareholders, marking over 50 consecutive years of cash dividend payments. As of March 31, 2021, Southside Bancshares reported approximately $7.0 billion in assets.

Southside Bancshares reported a record net income of $34.1 million for Q1 2021, marking a 762.4% increase from $4.0 million in the same quarter of 2020. The company achieved an annualized return on average assets of 1.99% and 21.22% on average tangible common equity. Earnings per diluted share rose to $1.04, up 766.7% from $0.12 year-over-year. Nonperforming assets decreased to 0.22% of total assets, and annualized linked quarter loan growth was reported at 6.2%.

Southside Bancshares, Inc. (NASDAQ: SBSI) will release its first quarter financial results on April 23, 2021, before the market opens. A conference call to discuss the results will take place the same day at 11:00 a.m. CST, featuring President and CEO Lee R. Gibson and CFO Julie Shamburger. Interested parties can access the call by dialing 844-775-2540 or through a webcast. Southside Bancshares operates 54 branches and has approximately $7.01 billion in assets as of December 31, 2020, offering a range of financial products and services.

Southside Bancshares, Inc. (NASDAQ:SBSI) is set to expand its operations with a new commercial loan office at 1800 Post Oak Blvd., Houston, opening April 12, 2021. This location aims to strengthen the bank's presence in Houston, where it has operated a retail branch since 2019. Key lending officers Adam Gonzalez, Liela Raglin, and Alice Yang bring extensive experience to the team. Southside Bancshares oversees approximately $7.01 billion in assets and operates 54 branches across East Texas and key urban areas, offering a comprehensive suite of financial services.