Q2 2025 Southside Bancshares Inc Earnings Call Transcript
Key Points
- Southside Bancshares Inc (SBSI) reported a net income of $21.8 million for the second quarter, with a diluted earnings per share of $0.72.
- The company experienced an increase in net interest margin by 9 basis points to 2.95%, and net interest income increased by $414,000 to $54.3 million.
- Total loans increased by $35 million linked quarter, with strong net loan growth of $104 million during June.
- Deposits, net of public funds and broker deposits, increased by $90.1 million linked quarter.
- The Texas markets served by Southside Bancshares Inc (SBSI) remain healthy, with continued job and population growth.
- Despite strong new loan production, the company experienced significant payoffs, resulting in muted loan growth during the second quarter.
- Non-performing assets increased slightly, remaining concentrated in one large construction loan.
- The allowance for credit losses decreased slightly, indicating potential concerns about future credit quality.
- The securities portfolio experienced a net unrealized loss of $60.4 million, an increase from the previous quarter.
- The company slightly lowered its loan growth guidance to 3% to 4% year over year due to uncertainties in payoffs.
Thank you for standing by and welcome to Southside Bancshares second quarter 2025 earnings conference call. (Operator Instructions)
I would now like to hand the call over to Lindsey Bailes, Vice President, investor relations. Please go ahead.
Thank you, Lisa. Good morning, everyone, and welcome to Southside Bancshares second quarter 2025 earnings call. A transcript of today's call will be posted on Southside.com under investor relations. During today's call and in other disclosures and presentations, I remind you forward-looking statements are subject to risk and uncertainties.
Factors that could materially change our current forward-looking assumptions are described in our earnings release in our Form 10-K.
Joining me today are CEO Lee Gibson, President Keith Donahoe, and CFO Julie Shamburger. First, Lee will start us off with his comments on the quarter. Then Keith will discuss loans and credit, and then Julie will give an overview of our financial results. I will now
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