Southside Bancshares: 3Q Earnings Snapshot

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.