Southside Bancshares, Inc. (SBSI) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you for standing by. At this time, I would like to welcome everyone to the Southside Bank Shares Inc. Third Quarter 2025 Earnings Call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the one on your telephone keypad. If you would like to withdraw your question, press star one again. Thank you. I would now like to turn the call over to Lindsay Bales, Investor Relations Officer. You may begin. Thank you, Jeannie. Good morning, everyone, and welcome to Southside Bank Share's third quarter 2025 earnings call. A transcript of today's call will be posted on southside.com under Investor Relations. During today's call and in other disclosures and presentations, I'll remind you forward-looking statements are subject to risk and uncertainties, factors that could materially change Our current forward-looking assumptions are described in our earnings release in our Form 10 case. Joining me today are Lee Gibson, CEO, Keith Donahoe, President, and CFO, Julie Shanberger. First, Lee will start us off with his comments on the quarter, then Keith will discuss loans and credit, and then Julie will give an overview of our financial results. I will now turn the call over to Lee. Thank you, Lindsay, and welcome to today's call. I'm going to start by discussing the repositioning of our available for sale securities portfolio. During the quarter, as market conditions allowed, we took the opportunity to sell approximately $325 million of lower-yielding, long-duration municipal securities, and to a lesser extent, mortgage-backed securities, and booked a net loss of $24.4 million. These securities had a combined...