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Jun 30, 2021
Southside Bancshares Q2 2021 Earnings Report
Reported solid results during the second quarter, highlighted by continued strong asset quality metrics and 5% annualized linked quarter deposit growth.
Key Takeaways
Southside Bancshares reported a net income of $21.3 million for the second quarter of 2021, a slight decrease of 1.1% compared to the same period in 2020. Earnings per diluted common share remained consistent at $0.65. The company saw annualized linked quarter deposit growth of 5.0% and an annualized return on average assets of 1.20%.
Net income for the second quarter was $21.3 million.
Earnings per diluted common share were $0.65 for the second quarter.
Annualized linked quarter deposit growth was 5.0%.
Nonperforming assets decreased to 0.21% of total assets.
Southside Bancshares
Southside Bancshares
Forward Guidance
On September 30, 2021, the company anticipates the redemption of its 5.5% coupon $100 million sub debt issue, pending regulatory approval. The company is pleased by the continued strong economic conditions in the market areas it serves.