Southside Bancshares Q1 net income rises 8%, asset quality improves

Southside Bancshares

30/04/2026 10:54

Overview

US regional bank's Q1 net income rose 8% yr/yr, EPS up nearly 10%

Net interest income and noninterest income both increased from prior year

Nonperforming assets fell to 0.11% of total assets after payoff of restructured loan

Outlook

Company expects further savings on funding costs in Q2 after subordinated notes redemption

Southside says improved economic forecast contributed to lower loan loss allowance ratio

Result Drivers

NET INTEREST INCOME - Growth driven by lower funding costs and increased volume and mix of interest-earning assets

NONINTEREST INCOME - Higher trust fees and reduced losses on securities sales contributed to noninterest income growth

ASSET QUALITY IMPROVEMENT - Nonperforming assets declined due to payoff of a restructured commercial real estate loan

Company press release: ID:nBw6kNvWja

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
$0.78
Q1 Net Income
$23.26 mln
Q1 Net Interest Income
$57.69 mln
Q1 Total Credit Loss Provision
$1.4 mln
Q1 Pretax Profit
$28.30 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the banks peer group is "buy."

Wall Street's median 12-month price target for Southside Bancshares Inc is $35.00, about 7.4% above its April 29 closing price of $32.60

The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 10 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)