Southside Bancshares earnings per fully diluted share increased $0.12, or 10.7%, to $1.24 for the year ended December 31, 2007, when compared to $1.12 for the same period a year ago. Net income for the three months ended December 31, 2007, increased $655,000 to $4.8 million from $4.2 million, or 15.7%, for the same period in 2006. Earnings per fully diluted share increased $0.05, or 16.1%, to $0.36 for the quarter, compared to $0.31 for the comparable period in prior year.
BG Hartley, chairman and CEO of Southside Bancshares, said: 2007 was a remarkable year. Our well established business plan, anchored by well quantified credit standards, conservative balance sheet management and the retention of a seasoned management team, allowed Southside to distinguish itself in one of the most challenging environments for financial institutions in several decades.
