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Southside (SBSI) Q3 2024 Earnings Call Transcript
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Noninterest income -- Excluding securities losses, declined $2 million, or 16.7%, mainly due to an $868,000 impairment and lower BOLI income following large Q2 death benefits.
-- Excluding securities losses, declined $2 million, or 16.7%, mainly due to an $868,000 impairment and lower BOLI income following large Q2 death benefits.
This morning, we reported third quarter net income of $20.5 million, earnings per share of $0.68, a return on average tangible common equity of 13.69% and continued strong asset quality metrics.
Linked quarter, loans decreased slightly as we experienced a few large payoffs at the end of the quarter.
Our AOCI on September 30, 2024, was a net loss of $118.5 million compared to a net loss of $111 million on June 30, 2024.