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Mar 31, 2023
Southside Bancshares Q1 2023 Earnings Report
Southside Bancshares' financial performance was marked by increased net income and earnings per diluted common share compared to the same period last year.
Key Takeaways
Southside Bancshares reported a net income of $26.0 million for Q1 2023, an increase of 4.2% compared to Q1 2022. Earnings per diluted common share increased by 7.8% to $0.83. The company's annualized return on average assets was 1.38%, and nonperforming assets decreased to 0.04% of total assets.
Net income for the first quarter was $26.0 million.
Earnings per diluted common share for the first quarter were $0.83.
Annualized return on average assets for the first quarter was 1.38%.
Nonperforming assets decreased to 0.04% of total assets.
Southside Bancshares
Southside Bancshares
Forward Guidance
Southside believes their conservative underwriting guidelines combined with their balance sheet and business plan, position them well to continue to produce a solid return profile.