Southside Bancshares, Inc. (NASDAQ: SBSI) (“Southside” or “the company”), headquartered in Tyler, TX is an $8.4 billion-asset bank holding company operating principally through Southside Bank (“the bank”). SBSI offers commercial and consumer banking, wealth management, trust, and brokerage services, operating 54 branches across East and Southeast TX.
SBSI’s organic growth has been supplemented by periodic bank acquisitions. Given the company’s current scale (including the proximity to the regulatorily important $10 billion-asset threshold), the potential for SBSI to pursue strategic acquisitions over the near term exists.
SBSI’s CRE loan portfolio is reasonably diversified with respect to borrower type and geography, noting broadly that investor CRE has represented >55% of total loans in recent periods, including C&D representing 12% of total loans at 2Q24. Beyond investor CRE, SBSI’s loan book is comprised of residential mortgages (16%),…
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