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Dec 31, 2023
Southside Bancshares Q4 2023 Earnings Report
Reported a decrease in net income due to decreases in noninterest income and net interest income and an increase in noninterest expense.
Key Takeaways
Southside Bancshares, Inc. reported a net income of $17.3 million for Q4 2023, a decrease of $10.4 million compared to the same period in 2022. Earnings per diluted common share decreased to $0.57 from $0.87 in the same period in 2022. The decrease in net income was primarily due to decreases in noninterest income and net interest income and the increase in noninterest expense.
Q4 net income was $17.3 million.
Loan growth of 2.3% compared to the previous quarter.
Q4 earnings per diluted common share were $0.57.
Nonperforming assets remain low at 0.05% of total assets.
Southside Bancshares
Southside Bancshares
Forward Guidance
Southside's management team will host a conference call to discuss its fourth quarter and year ended December 31, 2023 financial results on Friday, January 26, 2024 at 11:00 a.m. CDT.