Brief: Southside Bancshares Q1 Earnings Per Share $0.12

Southside Bancshares

05/05/2020 12:00

May 5 (Reuters) - Southside Bancshares Inc  SBSI.O :
    * SOUTHSIDE BANCSHARES, INC. ANNOUNCES FINANCIAL RESULTS FOR
THE
FIRST QUARTER ENDED MARCH 31, 2020
    * Q1 EARNINGS PER SHARE $0.12
    * Q1 EARNINGS PER SHARE ESTIMATE $0.48 -- REFINITIV IBES
DATA
    * Q1 PROVISION FOR CREDIT LOSSES OF $25.2 MILLION; LARGELY
WORSENING ECONOMIC FORECAST, COVID-19 RELATED
    * DO NOT ANTICIPATE MEANINGFUL LOAN GROWTH FOR REMAINDER OF
YEAR
    * INCREASED SECURITIES PORTFOLIO APPROXIMATELY $450 MILLION
AND
ENTERED INTO AN ADDITIONAL $400 MILLION OF SWAPS
    * NET INTEREST INCOME FOR THREE MONTHS ENDED MARCH 31, 2020
WAS
$44.7 MILLION, COMPARED TO $41.1 MILLION

Source text for Eikon:  ID:nGNX1zXhxr 
Further company coverage:  SBSI.O 

 ((Reuters.Briefs@thomsonreuters.com;))