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Sep 30, 2023
Southside Bancshares Q3 2023 Earnings Report
Southside Bancshares reported a decrease in net income and earnings per diluted common share for the third quarter of 2023.
Key Takeaways
Southside Bancshares reported a net income of $18.4 million for Q3 2023, a decrease of 31.5% compared to the same period in 2022. Earnings per diluted common share decreased by 28.6% to $0.60. The decrease in net income was primarily due to an increase in the provision for credit losses, the decrease in net interest income, and the increase in noninterest expense.
Third quarter net income of $18.4 million.
Linked quarter loan growth of 2.1%.
Third quarter earnings per diluted common share of $0.60.
Nonperforming assets remain low at 0.05% of total assets.
Southside Bancshares
Southside Bancshares
Forward Guidance
The document does not contain any forward guidance.