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North Texas banks report Q2 results

🕐 2 min read

Southside Bancshares

YLER, Texas (AP) _ Southside Bancshares Inc. (SBSI) on Friday reported second-quarter profit of $21.3 million.

The Tyler, Texas-based bank said it had earnings of 65 cents per share.

The holding company for Southside Bank posted revenue of $63.5 million in the period. Its revenue net of interest expense was $59.7 million, which fell short of Street forecasts.

Southside Bancshares shares have climbed 15% since the beginning of the year. The stock has increased 29% in the last 12 months.

Regions Financial

BIRMINGHAM, Ala. (AP) _ Regions Financial Corp. (RF) on Friday reported second-quarter net income of $790 million, after reporting a loss in the same period a year earlier.

The bank, based in Birmingham, Alabama, said it had earnings of 77 cents per share.

The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share.

The holding company for Regions Bank posted revenue of $1.63 billion in the period. Its revenue net of interest expense was $1.58 billion, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $1.55 billion.

Regions Financial shares have increased 18% since the beginning of the year, while the S&P’s 500 index has risen 16%. The stock has increased 76% in the last 12 months.

First Financial

ABILENE, Texas (AP) _ First Financial Bankshares Inc. (FFIN) on Thursday reported second-quarter earnings of $56.4 million.

The Abilene, Texas-based bank said it had earnings of 39 cents per share.

The commercial banker operating mostly in Texas posted revenue of $127.3 million in the period. Its revenue net of interest expense was $129.3 million, which topped Street forecasts.

First Financial shares have climbed 31% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $47.52, a climb of 64% in the last 12 months.

Hilltop Holdings

DALLAS (AP) _ Hilltop Holdings Inc. (HTH) on Thursday reported second-quarter net income of $99.1 million.

The Dallas-based bank said it had earnings of $1.21 per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.09 per share.

The insurance holding compnay posted revenue of $474.7 million in the period. Its revenue net of interest expense was $447.8 million, missing Street forecasts.

Hilltop Holdings shares have risen 18% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $32.33, a climb of 77% in the last 12 months.

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