Southside Bancshares, Inc. (SBSI)

Southside Bancshares Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	277.02	244.8	170.41	144.8	158.45	170.29
Interest Income on Investments	134.56	114.94	82.57	71.18	73.38	70.5
Total Interest Income	411.59	359.74	252.98	215.99	231.83	240.79
Interest Paid on Deposits	150.82	108.16	29.08	9.4	24.65	44.57
Interest Paid on Borrowings	43.86	36.56	11.57	17.03	19.92	26.42
Total Interest Expense	194.68	144.71	40.64	26.43	44.56	70.98
Net Interest Income	216.91	215.03	212.34	189.56	187.27	169.81
Net Interest Income Growth (YoY)	-0.22%	1.26%	12.02%	1.22%	10.28%	-1.31%
Trust Income	5.85	5.91	5.99	5.96	5.13	6.27
Gain (Loss) on Sale of Investments	-12.55	-10.85	-4.5	3.69	7.83	0.82
Other Non-Interest Income	13.93	14.71	13	11.68	9.64	8.73
Total Non-Interest Income	31.95	35.83	40.86	49.34	49.73	42.37
Non-Interest Income Growth (YoY)	-27.54%	-12.29%	-17.19%	-0.80%	17.38%	3.91%
Revenues Before Loan Losses	248.86	250.86	253.2	238.89	237	212.17
Provision for Loan Losses	4.24	9.15	3.24	-16.96	20.2	5.1
Revenue	244.62	241.71	249.96	255.86	216.8	207.07
Revenue Growth (YoY)	-3.13%	-3.30%	-2.31%	18.02%	4.70%	1.31%
Salaries and Employee Benefits	84.14	81.07	78.41	75.87	73.21	70.64
Occupancy Expenses	12.4	12.89	13.36	12.43	12.18	11.53
Federal Deposit Insurance	3.75	3.56	1.95	1.81	1.12	0.86
Amortization of Goodwill & Intangibles	1.29	1.7	2.27	2.85	3.62	4.42
Selling, General & Administrative	27.53	26.66	23.13	20.12	19.53	18.84
Other Non-Interest Expense	15.05	14.7	11.21	10.84	13.66	13
Total Non-Interest Expense	144.16	140.58	130.33	123.91	123.31	119.3
EBT Excluding Unusual Items	100.45	101.13	119.63	131.95	93.49	87.78
Other Unusual Items	-	-	-	-1.12	-	-
Pretax Income	100.45	101.13	119.63	130.83	93.49	87.78
Income Tax Expense	16.43	14.44	14.61	17.43	11.34	13.22
Net Income	84.02	86.69	105.02	113.4	82.15	74.55
Net Income to Common	84.01	86.69	105.02	113.4	82.15	74.55
Net Income Growth	-13.42%	-17.45%	-7.39%	38.04%	10.19%	0.56%
Basic Shares Outstanding	30	31	32	33	33	34
Diluted Shares Outstanding	30	31	32	33	33	34
Shares Change (YoY)	-2.76%	-4.63%	-1.35%	-1.77%	-1.81%	-3.48%
EPS (Basic)	2.78	2.82	3.27	3.48	2.47	2.21
EPS (Diluted)	2.78	2.82	3.26	3.47	2.47	2.20
EPS Growth	-10.85%	-13.50%	-6.05%	40.49%	12.27%	4.27%
Dividend Per Share	1.430	1.400	1.360	1.310	1.250	1.230
Dividend Growth	2.88%	2.94%	3.82%	4.80%	1.63%	4.24%
Effective Tax Rate	16.36%	14.28%	12.21%	13.32%	12.13%	15.06%

Source: S&P Capital IQ. Banks template. Financial Sources.