SOUTHSIDE BANCSHARES, INC. SBSI Income Statement

Southside bancshares, inc. (SBSI)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10
Loans
41,895	42,522	43,165	42,982	41,619	40,729	39,831	39,301	38,830	32,967	29,322	28,090	27,254	26,826	25,740	26,233	27,765	24,827	23,787	23,887	23,916	16,762	17,168	18,305	18,363	18,230	18,625	18,390	17,665	17,319	17,847	17,526	16,770	16,106	16,229	17,130	17,271	17,845	16,926	17,437	17,765
Taxable investment securities
512	86	26	27	28	103	36	51	227	237	58	267	377	485	251	107	214	416	475	459	237	139	210	143	123	127	139	169	364	446	22	20	31	15	11	20	18	19	20	26	26
Tax-exempt investment securities
6,206	5,044	4,167	3,527	4,118	5,895	6,331	6,353	6,381	6,148	5,670	6,157	6,554	6,695	5,467	5,137	5,355	5,408	5,551	5,644	5,865	5,734	6,325	6,021	5,958	8,161	6,927	5,907	4,488	4,177	3,839	2,961	2,667	3,013	3,069	3,209	3,229	2,680	2,366	3,017	2,826
Interest Income, Securities, Mortgage Backed
11,534	12,197	12,569	13,246	12,474	10,394	10,086	10,210	10,894	9,931	10,567	10,818	10,045	9,294	9,399	9,366	9,391	9,215	8,318	7,666	8,462	6,898	6,070	7,557	7,682	6,400	5,069	4,680	3,936	4,388	6,695	8,872	12,163	13,568	13,292	13,310	11,297	12,193	13,378	10,282	14,277
Federal Home Loan Bank stock and equity investments
425	437	422	440	355	393	377	411	414	380	329	299	298	210	186	185	217	75	65	65	93	37	36	38	70	47	36	34	65	50	57	54	79	51	50	52	80	59	59	59	82
Other interest earning assets
180	247	206	450	433	508	491	471	448	441	527	378	360	170	89	61	70	23	15	29	34	43	31	22	43	50	15	35	43	18	4	9	6	3	2	3	10	13	4	4	11
Total interest income
60,752	60,533	60,555	60,672	59,027	58,022	57,152	56,797	57,194	50,104	46,473	46,009	44,888	43,680	41,132	41,089	43,012	39,964	38,211	37,750	38,607	29,613	29,840	32,086	32,239	33,015	30,811	29,215	26,561	26,398	28,464	29,442	31,716	32,756	32,653	33,724	31,905	32,809	32,753	30,825	34,987
Interest expense:
Deposits
9,919	10,501	11,366	11,457	11,241	10,335	9,497	8,581	7,451	5,897	5,420	5,138	4,281	3,880	3,604	3,515	3,256	2,655	2,485	2,493	2,529	1,977	1,876	1,984	2,116	2,097	2,011	2,001	2,070	2,226	2,455	2,765	3,395	3,681	3,879	4,051	4,036	4,357	4,874	4,733	5,005
Federal Home Loan Bank borrowings
3,974	4,716	4,647	3,899	4,457	3,066	3,108	3,007	3,632	3,935	4,156	3,551	3,464	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Subordinated notes
1,411	1,426	1,425	1,410	1,400	1,431	1,423	1,407	1,398	1,429	1,413	1,398	1,393	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Trust preferred subordinated debentures
600	643	685	718	729	699	684	658	569	532	520	494	467	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other borrowings
147	71	59	57	75	81	30	33	11	5	4	4	3	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Short-term obligations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,122	906	696	-	354	154	142	271	226	56	71	120	116	389	1,250	1,463	1,551	1,734	1,592	1,500	1,643	1,705	1,729	1,930	2,086	1,867	1,680
Long-term obligations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,476	2,290	2,444	-	2,089	2,198	2,145	2,011	2,018	2,190	2,160	2,136	2,043	1,954	1,781	2,133	2,450	2,398	2,733	3,010	3,115	3,401	3,881	4,190	4,504	4,855	5,226
Total interest expense
16,051	17,357	18,182	17,541	17,902	15,612	14,742	13,686	13,061	11,798	11,513	10,585	9,608	9,039	7,202	6,711	6,396	5,265	4,928	4,845	4,816	4,259	4,120	4,230	4,347	4,353	4,170	4,344	5,101	5,822	6,456	6,897	7,720	8,191	8,637	9,157	9,646	10,477	11,464	11,455	11,911
Net interest income
44,701	43,176	42,373	43,131	41,125	42,410	42,410	43,111	44,133	38,306	34,960	35,424	35,280	34,641	33,930	34,378	36,616	34,699	33,283	32,905	33,791	25,354	25,720	27,856	27,892	28,662	26,641	24,871	21,460	20,576	22,008	22,545	23,996	24,565	24,016	24,567	22,259	22,332	21,289	19,370	23,076
Provision for (reversal of) credit losses
25,247	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Provision for (reversal of) credit losses
-	2,518	1,000	2,500	-918	2,390	975	1,300	3,735	1,296	960	1,346	1,098	2,065	1,631	3,768	2,316	1,951	2,276	268	3,848	3,287	4,868	2,650	4,133	2,726	3,640	2,021	492	2,245	3,265	2,174	3,052	2,044	1,454	1,860	2,138	4,409	3,201	2,260	3,867
Net interest income after provision for credit losses
19,454	40,668	41,368	40,625	42,043	39,964	41,435	41,830	40,398	37,035	34,000	34,078	34,182	32,576	32,299	30,610	34,300	32,748	31,007	32,637	29,943	22,067	20,852	25,206	23,759	25,936	23,001	22,850	20,968	18,331	18,743	20,371	20,944	22,521	22,562	22,707	20,121	17,923	18,088	17,110	19,209
Noninterest income:
Deposit services
6,279	6,647	6,753	6,652	5,986	6,325	6,317	6,261	6,179	5,940	5,476	5,255	5,114	5,183	5,335	5,099	5,085	4,990	5,213	4,920	4,989	3,988	3,860	3,794	3,638	3,898	4,005	3,904	3,753	3,940	3,907	3,838	3,748	3,938	4,098	4,028	3,879	4,075	4,280	4,400	4,064
Debt Securities, Available-for-sale, Realized Gain (Loss)
5,500	42	42	416	256	100	-741	-332	-827	-249	627	-75	322	-2,676	2,343	728	2,441	204	875	105	2,476	1,170	1,151	498	11	-732	-142	5,001	4,345	4,395	4,302	3,297	5,972	2,715	3,609	3,920	1,551	2,765	8,008	6,661	8,355
Loss on sale of securities carried at fair value through income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-13	-485	345	254	84	254	0	0	0	0
Fair value gains securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-664	3,274	2,456	1,627	-598	0	0	0
FHLB advance option impairment charges
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	195	1,364	472	1,104	7,819	0	0	-	0	-	-
Total other-than-temporary impairment losses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	52	-	0	21	0	0	0	0	0	0	0	0	39
Portion of loss recognized in other comprehensive income (before taxes)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-10	-	0	19	141	0	0	0	0	0	0	0	36
Net impairment losses recognized in earnings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	42	-	0	40	141	0	0	0	0	0	0	0	75
Impairment of investment in SFG Finance, LLC
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,239	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of loans
170	104	131	181	93	101	303	173	115	268	347	505	701	461	818	873	643	578	305	822	377	54	108	81	80	80	130	241	319	376	314	298	131	263	402	282	283	554	517	399	281
Trust fees
1,305	1,685	1,523	1,520	1,541	1,573	1,568	1,931	1,760	1,156	873	899	890	900	867	869	855	871	835	820	893	805	798	762	780	812	759	733	720	743	705	669	677	642	672	645	651	632	645	561	530
Bank owned life insurance
569	582	622	559	544	554	552	1,185	632	632	636	635	634	649	656	647	674	640	661	653	669	393	320	307	314	2,277	327	264	254	330	260	254	266	252	288	261	286	288	297	285	285
Brokerage services
580	531	555	477	517	499	532	506	450	632	561	682	547	466	551	535	575	555	540	472	639	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
1,054	874	1,485	1,449	601	1,021	1,491	1,283	1,301	720	888	1,392	1,465	1,730	1,162	619	1,323	977	932	1,139	745	-53	1,021	1,073	983	-38	1,334	953	891	689	1,205	1,123	1,111	929	957	959	1,105	861	931	864	933
Total noninterest income
15,498	10,465	11,111	11,254	9,538	10,134	10,022	11,007	9,610	9,099	9,408	9,293	9,673	6,713	11,732	9,370	11,596	8,815	9,361	8,931	10,788	7,149	5,019	6,515	5,806	7,496	6,413	11,096	10,240	10,654	10,498	8,062	10,807	7,316	5,735	12,635	9,636	8,577	14,678	13,170	14,373
Noninterest expense:
Salaries and employee benefits
19,643	19,406	18,388	17,891	18,046	17,823	17,628	16,633	18,559	15,316	14,472	14,984	16,007	13,844	15,203	14,849	17,732	12,144	15,733	16,869	18,199	21,829	12,798	13,092	13,102	12,277	13,167	13,401	13,209	12,190	11,919	12,142	11,833	10,828	11,280	11,622	11,691	10,909	10,891	11,215	10,942
Net occupancy
3,311	3,234	3,430	3,289	3,175	3,475	3,396	3,360	3,583	3,327	2,981	2,897	2,863	2,825	4,569	2,993	3,335	3,263	3,316	3,105	3,199	1,946	1,773	1,786	1,754	1,849	1,922	1,897	1,871	1,909	1,980	1,851	1,758	1,840	1,866	1,778	1,721	1,755	1,720	1,662	1,643
Acquisition expense
-	-	0	0	-	118	437	1,026	832	3,474	405	473	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Equipment expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	540	525	493	458	532	472	437
Advertising, travel & entertainment
832	791	593	733	847	786	648	775	685	601	487	548	583	648	588	722	685	696	642	683	657	582	489	605	543	746	599	656	641	650	606	603	604	720	591	550	553	622	616	544	537
ATM expense
224	236	232	246	180	250	251	243	346	1,049	1,024	889	927	820	868	736	712	1,008	617	750	679	385	327	302	317	334	310	303	381	246	251	287	279	271	235	266	215	223	223	212	167
Director fees
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	261	273	268	330	193	200	191	360	197	216	177
Supplies
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	178	222	159	-	186	161	224	237	189	206	270
Professional fees
1,195	1,142	1,192	1,069	1,314	1,189	824	952	1,070	859	996	1,050	939	982	1,148	1,478	1,338	1,375	825	793	742	4,464	1,132	1,304	927	850	730	562	640	844	781	612	691	1,135	571	457	555	652	418	539	406
Software and data processing
1,227	1,259	1,116	1,086	1,076	1,057	977	939	1,023	882	732	688	725	687	736	739	749	353	819	1,237	1,031	3,099	543	486	501	503	528	444	543	-	-	-	-	-	-	-	-	-	-	-	-
Postage
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	178	186	179	188	195	231	186
Communications
493	485	480	489	487	477	354	478	538	444	459	476	526	572	407	468	484	372	534	603	469	332	292	320	278	311	383	384	451	398	416	445	406	358	285	345	337	375	349	346	373
FDIC insurance
25	0	0	437	422	455	435	484	497	442	441	445	441	215	643	645	638	619	624	629	638	446	437	434	448	450	433	409	421	431	429	414	470	107	212	735	763	737	804	689	679
Amortization of intangibles
980	1,030	1,080	1,129	1,179	1,228	1,279	1,328	1,378	726	388	410	431	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
FHLB prepayment fees
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	148	-	-	0	0	-	-	-	-	-	-	0	988	-	-	0	0	-	-	-	-	-	-	-	-	-
Other
2,590	3,361	2,515	3,331	2,901	3,338	2,733	3,056	3,156	2,813	2,622	2,677	2,416	3,492	4,263	3,035	3,734	834	3,525	3,768	3,835	3,457	2,226	2,097	2,312	2,584	2,192	2,122	2,162	3,587	2,255	2,247	2,054	4,887	1,559	1,291	1,810	1,712	1,521	1,647	1,635
Total noninterest expense
30,520	30,944	29,026	29,700	29,627	30,196	28,962	29,274	31,667	29,933	25,007	25,537	25,858	25,877	28,425	25,813	29,407	28,433	26,635	28,437	29,449	37,079	20,017	20,426	20,182	19,964	20,264	21,166	20,319	19,413	19,076	19,096	18,522	17,804	17,696	18,116	18,732	18,228	17,655	17,979	17,452
Income before income tax expense
4,432	20,189	23,453	22,179	21,954	19,902	22,495	23,563	18,341	16,201	18,401	17,834	17,997	13,412	15,606	14,167	16,489	13,130	13,733	13,131	11,282	-7,863	5,854	11,295	9,383	13,468	9,150	12,780	10,889	9,572	10,165	9,337	13,229	12,033	10,601	17,226	11,025	8,272	15,111	12,301	16,130
Current
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,955
Income Tax Expense (Benefit)
479	2,821	3,700	3,600	3,100	2,473	2,200	3,400	2,090	5,870	3,890	3,353	3,008	1,839	2,741	2,772	2,973	1,405	1,971	2,000	1,903	-3,918	-243	838	1,159	1,281	257	1,712	1,847	1,352	1,558	1,608	3,090	2,470	2,038	4,100	1,786	-	3,811	-2,530	-
Net income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	9,563	8,563	13,126	9,239	6,812	11,300	9,771	12,175
Less: Net income attributable to the noncontrolling interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	493	865	-346	252	519	530
Net Income (Loss) Attributable to Parent
3,953	-	19,792	18,610	18,817	-	20,303	20,203	16,251	-	14,511	14,481	14,989	-	12,865	11,395	13,516	-	11,762	11,164	9,379	-	6,097	10,457	8,224	-	8,893	11,068	9,042	-	8,607	7,729	10,139	9,563	8,563	12,633	8,374	7,158	11,048	9,252	11,645
Earnings Per Share, Basic
0.12	0.51	0.59	0.55	0.56	0.50	0.58	0.58	0.46	0.33	0.49	0.49	0.51	0.41	0.48	0.42	0.51	0.38	0.44	0.42	0.37	-0.26	0.31	0.53	0.41	0.55	0.47	0.59	0.48	0.37	0.47	0.42	0.56	0.44	0.50	0.73	0.49	0.32	0.67	0.56	0.70
Earnings Per Share, Diluted
0.12	0.51	0.58	0.55	0.56	0.50	0.58	0.57	0.46	0.32	0.49	0.49	0.51	0.40	0.48	0.42	0.51	0.38	0.44	0.42	0.37	-0.26	0.31	0.53	0.41	0.55	0.47	0.59	0.48	0.37	0.47	0.42	0.56	0.44	0.50	0.73	0.49	0.32	0.67	0.56	0.70
Common Stock, Dividends, Per Share, Cash Paid
0.31	0.34	0.31	0.31	0.30	0.32	0.30	0.30	0.28	0.30	0.28	0.28	0.25	0.30	0.24	0.24	0.23	0.31	0.23	0.23	0.23	0.32	0.22	0.21	0.21	0.31	0.20	0.20	0.20	0.53	0.20	0.20	0.18	0.38	0.18	0.17	0.17	0.34	0.17	0.17	0.17