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Sep 30, 2022
Southside Bancshares Q3 2022 Earnings Report
Reported a net income of $27.0 million for the third quarter ended September 30, 2022.
Key Takeaways
Southside Bancshares, Inc. reported a net income of $27.0 million for the third quarter ended September 30, 2022, a decrease of $2.4 million, or 8.0%, compared to the same period in 2021. Earnings per diluted common share decreased $0.06, or 6.7%, to $0.84 for the three months ended September 30, 2022, from $0.90 for the same period in 2021.
Third quarter net income of $27.0 million.
Linked quarter loan growth, net of Paycheck Protection Program (“PPP”) loans, of 2.6%.
Linked quarter net interest margin increased to 3.15% and net interest margin (FTE) increased to 3.36%.
Nonperforming assets remained low at 0.16% of total assets.