SBSI - Southside Bancshares GAAP EPS of $0.81 beats by $0.12 revenue of $64.38M misses by $1.15M

2023-07-25 05:51:30 ET

• Southside Bancshares press release ( NASDAQ: SBSI ): Q2 GAAP EPS of $0.81 beats by $0.12 .
• Revenue of $64.38M (+7.0% Y/Y) misses by $1.15M .
• Annualized return on second quarter average assets of 1.29%.
• Annualized return on second quarter average tangible common equity of 18.59%.
• Nonperforming assets remain low at 0.04% of total assets.
• The effective tax rate increased to 15.5% for the three months ended June 30, 2023, compared to 11.5% for the three months ended June 30, 2022, and increased from 14.9% for the three months ended March 31, 2023.
• "Our efficiency ratio and tax-equivalent efficiency ratio were 53.54% and 51.06%, respectively, for the three months ended June 30, 2023, compared to 50.61% and 47.74%, respectively, for the three months ended June 30, 2022, and 53.57% and 50.99%, respectively, for the three months ended March 31, 2023."

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