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Banking Southside Bancshares: 3Q Earnings Snapshot

Southside Bancshares: 3Q Earnings Snapshot

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Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.


TYLER, Texas (AP) _ Southside Bancshares Inc. (SBSI) on Friday reported third-quarter net income of $27.1 million.
The Tyler, Texas-based bank said it had earnings of 82 cents per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 56 cents per share.
The holding company for Southside Bank posted revenue of $66.8 million in the period. Its revenue net of interest expense was $60.8 million, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $59.6 million.
Southside Bancshares shares have decreased 28% since the beginning of the year. The stock has declined 24% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SBSI at https://www.zacks.com/ap/SBSI

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