Earnings Call Summary | Southside Bancshares(SBSI.US) Q1 2024 Earnings Conference
Earnings Call Summary | Southside Bancshares(SBSI.US) Q1 2024 Earnings Conference
The following is a summary of the Southside Bancshares, Inc. (SBSI) Q1 2024 Earnings Call Transcript:
以下是Southside Bancshares, Inc.(SBSI)2024年第一季度業績電話會議記錄摘要:
Financial Performance:
財務業績:
Southside Bancshares reported a Q1 net income of $21.5 million, with earnings per share of $0.71 and a return on average tangible common equity of 15.07%.
The company saw loan growth of $52.9 million (1.2% quarter on quarter, and 4.7% annualized), primarily due to increases in commercial real estate loans.
Non-performing assets increased to $8 million, mainly due to two larger relationships.
There was a slight decline in both net interest margin and interest spread.
Non-interest income in Q1, excluding a net loss on the sales of AFS securities, decreased by 24.4%.
Non-interest expense increased by $1.7 million.
Southside Bancshares公佈的第一季度淨收入爲2150萬美元,每股收益爲0.71美元,平均有形普通股回報率爲15.07%。
該公司的貸款增長了5,290萬美元(同比增長1.2%,按年計算爲4.7%),這主要是由於商業房地產貸款的增加。
不良資產增加到800萬美元,這主要是由於兩個更大的關係。
淨利率和利差均略有下降。
第一季度的非利息收入,不包括AFS證券銷售的淨虧損,下降了24.4%。
非利息支出增加了170萬美元。
Business Progress:
業務進展:
Southside Bancshares is implementing initiatives related to their new five-year strategic plan, which include retirements, workforce reductions and anticipated savings of around $3.5 million per annum in personnel costs, with full impact expected by 2025.
The company aims to achieve non-interest income of around $10-$10.5 million per quarter and is exploring methods to increase this figure.
As part of its five-year strategic strategy, Southside Bancshares is considering expanding into new markets and prioritising IT-related issues and software.
Southside Bancshares正在實施與其新的五年戰略計劃相關的舉措,其中包括退休、裁員和預計每年節省約350萬美元的人事成本,預計到2025年將產生全面影響。
該公司的目標是實現每季度約1000萬至1,050萬美元的非利息收入,並正在探索提高這一數字的方法。
作爲其五年戰略戰略的一部分,Southside Bancshares正在考慮向新市場擴張,並優先考慮與IT相關的問題和軟件。
More details: Southside Bancshares IR
更多詳情: 南邊 Bancshares IR
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
提示:欲了解更多詳情,請訪問投資者關係網站。本文僅供投資者參考,不構成任何投資建議。
譯文內容由第三人軟體翻譯。