Southside Bancshares Inc (OQ:SBSI)

Sector:  Financials Industry:  Banks
 
See Regulatory Filings on SEC
Company Contact
Address: 1201 S Beckham
TYLER TX 75701
Tel: 1-903-6307965
Website: https://investors.southside.com
IR: See website
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Key People
Lee R. Gibson
President, Chief Executive Officer, Director; Director Of Southside Bank
T. L. Arnold
Chief Credit Officer of the Company and Southside Bank
Julie N. Shamburger
Chief Financial Officer of the Company and Southside Bank
Keith Donahoe
Regional President, Central Texas
Mark W. Drennan
Regional President - North Texas
Jared Green
Regional President, East Texas
Brian K. McCabe
Chief Operating Officer of the Company and Southside Bank
Suni M. Davis
Chief Risk Officer of the Company and Southside Bank
Timothy F. Alexander
Chief Lending Officer
Sherri Anthony
Chief Banking Officer
   
Business Overview
Southside Bancshares, Inc. is a bank holding company for Southside Bank. The Company operates through approximately 55 branches, 13 of which are located in grocery stores, in addition to wealth management and trust services, and/or loan production, brokerage or other financial services offices. It is a community-focused financial institution that offers a full range of financial services to individuals, businesses, municipal entities and nonprofit organizations in the communities that it serves. Its consumer loan services include 1-4 family residential loans, home equity loans, home improvement loans, automobile loans and other consumer related loans. Its commercial loan services include commercial real estate loans and municipal loans. The Company's trust and wealth management services include investment management, administration of irrevocable, revocable and testamentary trusts, and custodian services, primarily for individuals and, to a lesser extent, partnerships and corporations.
Financial Overview
For the fiscal year ended 31 December 2023, Southside Bancshares Inc interest income increased 42% to $359.7M. Net interest income after loan loss provision decreased 2% to $205.9M. Net income decreased 17% to $86.7M. Net interest income after loan loss provision reflects State Commercial Banks segment decrease of 2% to $205.9M, Net Interest Margin, Total -% decrease of 7% to 3.09%, Net Interest Spread.
Employees: 815 as of Dec 31, 2023
Reporting Currency: U.S. Dollars
Enterprise value: $1,401M as of Dec 31, 2023
Annual revenue (TTM): $359.74M as of Dec 31, 2023
EBITDA (TTM): $148.26M as of Dec 31, 2023
Net annual income (TTM): $86.69M as of Dec 31, 2023
Free cash flow (TTM): $29.38M as of Dec 31, 2023
Net Debt Last Fiscal Year: $541.95M as of Dec 31, 2023
Shares outstanding: 30,282,697 as of Mar 20, 2024
Index Membership: S&P 600 Small Cap
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization

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