Southside Bancshares Inc (OQ:SBSI)
Business Focus: Banks
| Sector: Financials | Industry: Banks |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 1201 S Beckham TYLER TX 75701 |
| Tel: | 1-903-6307965 |
| Website: | https://investors.southside.com |
| IR: | See website |
| Key People | ||
| Keith Donahoe President | T. L. Arnold Chief Credit Officer of the Company and Southside Bank | Lee R. Gibson Chief Executive Officer, Director |
| Julie N. Shamburger Chief Financial Officer of the Company and Southside Bank | Mark W. Drennan Regional President - North Texas | Jared Green Regional President, East Texas |
| Brian K. McCabe Chief Operating Officer of the Company and Southside Bank | Suni M. Davis Chief Risk Officer of the Company and Southside Bank | Timothy F. Alexander Chief Lending Officer | Sherri Anthony Chief Banking Officer |
| Business Overview |
| Southside Bancshares, Inc. is a bank holding company for Southside Bank. The Company operates through approximately 55 branches, 13 of which are located in grocery stores, in addition to wealth management and trust services, and/or loan production, brokerage or other financial services offices. It is a community-focused financial institution that offers a full range of financial services to individuals, businesses, municipal entities and nonprofit organizations in the communities that it serves. Its consumer loan services include 1-4 family residential loans, home equity loans, home improvement loans, automobile loans and other consumer related loans. Its commercial loan services include commercial real estate loans and municipal loans. The Company's trust and wealth management services include investment management, administration of irrevocable, revocable and testamentary trusts, and custodian services, primarily for individuals and, to a lesser extent, partnerships and corporations. |
| Financial Overview |
| For the three months ended 31 March 2024, Southside Bancshares Inc interest income increased 27% to $102.8M. Net interest income after loan loss provision decreased less than 1% to $53.3M. Net income decreased 17% to $21.5M. Net interest income after loan loss provision reflects Interest income Loans increase of 25% to $68.2M, Mortgage-backed securities increase from $4.3M to $10.1M, also reflect Net Interest Margin. |
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