Southside Bancshares, Inc. Announces Financial Results for the First Quarter Ended March 31, 2024
TYLER, Texas, April 25, 2024 (GLOBE NEWSWIRE) — Southside Bancshares, Inc. (“Southside” or the “Company”) (NASDAQ:SBSI) today reported its financial results for the quarter ended March 31, 2024. Southside reported net income of $21.5 million for the three months ended March 31, 2024, a decrease of $4.5 million, or 17.4%, compared to $26.0 million for the same period in 2023. Earnings per diluted common share decreased $0.12, or 14.5%, to $0.71 for the three months ended March 31, 2024, from $0.83 for the same period in 2023. The annualized return on average shareholders’ equity for the three months ended March 31, 2024, was 11.02%, compared to 13.92% for the same period in 2023. The annualized return on average assets was 1.03% for the three months ended March 31, 2024, compared to 1.38% for the same period in 2023.