Southside Bancshares Full Year 2024 Earnings: In Line With Expectations

Southside Bancshares (NYSE:SBSI) Full Year 2024 Results

Key Financial Results

• Revenue: US$254.5m (up 5.3% from FY 2023).
• Net income: US$88.4m (up 2.1% from FY 2023).
• Profit margin: 35% (down from 36% in FY 2023). The decrease in margin was driven by higher expenses.
• EPS: US$2.92 (up from US$2.82 in FY 2023).

SBSI Banking Performance Indicators

• Net interest margin (NIM): 2.88% (down from 3.09% in FY 2023).
• Non-performing loans: 0.07% (down from 0.09% in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Southside Bancshares Meets Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) was also in line with analyst expectations.

In the last 12 months, the only revenue segment was Banking contributing US$254.5m. The largest operating expense was General & Administrative costs, amounting to US$122.9m (74% of total expenses). Explore how SBSI's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 6.6% p.a. on average during the next 2 years, compared to a 7.2% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's shares are up 2.3% from a week ago.

Balance Sheet Analysis

Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. See our latest analysis on Southside Bancshares' balance sheet health.

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