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Southside Bancshares
Southside Bancshares (SBSI) investor relations material
Southside Bancshares Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary29 Jan, 2026
Executive summary
Fourth quarter net income was $21 million, with diluted EPS of $0.70, up $16.1 million (327.2%) sequentially; full-year net income was $69.2 million, down $19.3 million (21.8%) year-over-year, mainly due to securities portfolio restructuring and a $32.3 million net loss on sale of AFS securities.
Partial restructuring of the securities portfolio in Q4 included selling $82 million in lower-yielding municipal securities and reinvesting in higher-yielding agency MBS, resulting in a $7.3 million net loss but enhancing future net interest income and balance sheet flexibility.
Net interest income increased 6.6% year-over-year in Q4 and 2.7% sequentially, driven by lower funding costs and a favorable shift in asset/liability mix.
Credit quality remains strong, with non-performing assets at 0.45% of total assets, though this rose mainly due to a $27.5 million restructured commercial real estate loan.
The company repurchased 369,804 shares in Q4 and declared a $0.36 per share dividend; 762,000 shares remain authorized for repurchase.
Financial highlights
Net interest margin (tax-equivalent) expanded to 2.98%, up 15 bps year-over-year and 4 bps sequentially.
Efficiency ratio improved to 52.28% in Q4 from 54.00% a year ago and 52.99% last quarter.
Loans grew 3.4% year-over-year to $4.82 billion; deposits increased 3.2% to $6.87 billion, though deposits decreased $96.4 million (1.4%) sequentially, mainly due to a reduction in brokered deposits.
Allowance for loan losses was $45.1 million (0.94% of loans) at year-end.
Full-year return on average assets was 0.83% and return on average equity was 8.40%, both down from 2024.
Outlook and guidance
Redemption of $93 million in subordinated notes in Q1 2026 is expected to positively impact net interest margin.
Non-interest expense budgeted to rise 7% in 2026, mainly from salary, benefits, software, and a one-time $800,000 charge for debt redemption; Q1 2026 non-interest expense forecasted at $39.5 million.
Annual effective tax rate estimated at 17.4% for 2026.
Loan production expected to exceed 2025, though high payoffs may offset some growth.
Management anticipates continued focus on optimizing the securities portfolio and managing funding costs.
What drove the 965% NPA increase year-over-year?
Explain the increase in subordinated notes balance.
What drove the efficiency ratio improvement?
M&A strategy: target size and $10B crossing
Detail 2026 expense growth: software vs. FTEs
Loan growth headwinds from construction payoffs
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Next Southside Bancshares earnings date
Q1 202628 Apr, 2026
Southside Bancshares
Next Southside Bancshares earnings date
Q1 202628 Apr, 2026
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Frequently asked questions
Southside Bancshares Inc. is a bank holding company providing personal and commercial banking services. Its offerings include loans, deposits, wealth management, and online banking solutions to individuals and businesses. The company is headquartered in Tyler, Texas, and its shares are listed on the NASDAQ.
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