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 |
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 |