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Dec 31, 2021
Southside Bancshares Q4 2021 Earnings Report
Reported a decrease in net income due to a decrease in the reversal of provision for credit losses and an increase in income tax expense, partially offset by increases in noninterest income and net interest income.
Key Takeaways
Southside Bancshares, Inc. reported a net income of $28.7 million for Q4 2021, a decrease of $0.9 million, or 3.0%, compared to the same period in 2020. Earnings per diluted common share were $0.88 for the three months ended December 31, 2021, compared to $0.89 for the same period in 2020.
Fourth quarter net income of $28.7 million.
Annualized linked quarter loan growth, net of Paycheck Protection Program (“PPP”) loans, of 3.8%.
Annualized linked quarter deposit growth, net of brokered deposits, of 15.9%.
Linked quarter net interest margin increased to 3.23%.
Southside Bancshares
Southside Bancshares
Forward Guidance
As we enter 2022, we do so with a strong balance sheet, capital levels and credit metrics that we believe position us well for continued success. Our loan pipeline is strong, and we anticipate first quarter payoffs will be significantly less than we experienced during the fourth quarter. We remain encouraged by the continued strong economic conditions in the market areas we serve.