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Dec 31, 2019
Southside Bancshares Q4 2019 Earnings Report
Net income and earnings per diluted common share increased slightly.
Key Takeaways
Southside Bancshares, Inc. reported net income of $17.3 million for Q4 2019, a slight decrease compared to $17.4 million for the same period in 2018. Earnings per diluted common share increased to $0.51 from $0.50 in the same period of 2018. The annualized return on average assets was 1.03% for the quarter.
Linked quarter loans increased by $68.3 million, or 2.0%, reaching $3.57 billion.
Linked quarter nonperforming assets as a percent of total assets decreased from 0.45% to 0.26%.
Net income for the fourth quarter was $17.3 million, with earnings per diluted common share at $0.51.
The annualized return on average assets for the fourth quarter was 1.03%.
Forward Guidance
Southside Bancshares opened its 60th branch in Kingwood, Texas, and plans to expand its lending operations in the Houston area, pending regulatory approval, reflecting confidence in the Texas economy.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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