Jul. 25 at 10:09 AM
$SBSI Southside Bancshares reports Q2 EPS 81c, consensus 64c
Reports Q2 revenue
$67.27M, consensus
$64.84M. Reports Q2 CET1 capital ratio 12.72%. Reports Q2 net charge-offs .02%. Reports Q2 tangible book value per share
$19.75. "We reported excellent financial results for the second quarter highlighted by earnings per share of
$0.81, a return on assets of 1.19%, a 16.90% return on average tangible equity(1), and continued strong asset quality," stated Lee R. Gibson, Chief Executive Officer of Southside.
"Linked quarter net interest income increased
$260,000 and the net interest margin(1) increased one basis point to 2.87%. Noninterest expense, linked quarter decreased
$1.1 million due to a
$1.1 million decrease in salaries and employee benefits,
$618,000 of which was due to a first quarter cost reduction initiative."
