Southside Bancshares, Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2017. For the quarter, the company reported net interest income of $38,306,000 against $34,641,000 a year ago. Net interest income after provision for loan losses was $37,035,000 against $32,576,000 a year ago. Income before income tax expense was $16,201,000 against $13,412,000 a year ago. Net income was $10,331,000 or $0.33 per share basic and diluted against $11,573,000 or $0.42 per share basic and diluted a year ago. Return on average assets was 0.70% against 0.83% a year ago. Return on average shareholders' equity was 6.52% against 9.56% a year ago.

For the year, the company reported net interest income of $143,970,000 against $139,565,000 a year ago. Net interest income after provision for loan losses was $139,295,000 against $129,785,000 a year ago. Income before income tax expense was $70,433,000 against $59,674,000 a year ago. Net income was $54,312,000 or $1.81 per share diluted against $49,349,000 or $1.81 per share diluted a year ago. Book value per common share was $21.55 against $17.71 per share a year ago. Return on average assets was 0.96% against 0.94% a year ago. Return on average shareholders' equity was 9.65% against 10.54% a year ago.

The company is currently estimating effective tax rate for the first quarter and full year 2018 will be approximately 12.4%.