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 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.
Southside Bancshares, Inc. (SBSI) reported a strong third quarter for 2021, with net income of $29.3 million, an 8.2% increase from $27.1 million in 2020. Earnings per diluted share rose to $0.90 from $0.82. The company achieved annualized linked quarter loan growth of 7.9% and deposit growth of 13.5%. The net interest margin improved to 3.16%, and asset quality remained robust, with nonperforming assets down to 0.17% of total assets. Despite a minor increase in noninterest expenses, the positive momentum in income and strong asset quality has positioned Southside well for future growth.
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.