Quarterly ResultApr 30, 2026, 06:07 AM
SBSI Q1 Net Income $23.3M, EPS $0.78; Loan Growth 2.7%
AI Summary
Southside Bancshares, Inc. reported strong financial results for Q1 2026, with net income increasing 8.1% to $23.3 million and diluted EPS rising 9.9% to $0.78. The company achieved linked-quarter loan growth of 2.7% and an improved tax-equivalent net interest margin of 3.01%, up three basis points. Nonperforming assets significantly decreased by 74.6% to 0.11% of total assets, driven by the payoff of a $27.5 million restructured commercial real estate loan. The company also expects further funding cost savings after redeeming $93 million in subordinated notes.
Key Highlights
- Net income for Q1 2026 was $23.3 million, an 8.1% increase from Q1 2025.
- Diluted EPS for Q1 2026 was $0.78, a 9.9% increase from Q1 2025.
- Linked-quarter loan growth was 2.7%, reaching $4.95 billion at March 31, 2026.
- Tax-equivalent net interest margin increased three basis points linked-quarter to 3.01%.
- Nonperforming assets decreased 74.6% to $9.7 million, or 0.11% of total assets.
- Redeemed $93 million subordinated notes due 2030 with a 7.51% interest rate.
- Total assets reached $8.80 billion at March 31, 2026.
- Deposits increased 0.1% linked-quarter to $6.87 billion at March 31, 2026.