Southside Bancshares, Inc. Announces Net Income for the Three Months Ended ... MarketWatch (press release)
15.04.10
Today reported its financial results for the three months ended March 31, 2010.
Southside reported net income of $11.6 million for the three months ended March 31, 2010, a decrease of $2.5 million, or 17.7%, when compared to the same period in 2009. The decrease in net income is a direct result of a $3.0 million decrease in security gains, net of tax. Net income less security gains, net of tax, actually increased $500,000, or 8.7%
Diluted earnings per common share decreased $0.16, or 17.8%, to $0.74 for the three months ended March 31, 2010, when compared to $0.90 for the same period in 2009.
The return on average shareholders' equity for the three months ended March 31, 2010, decreased to 22.59% compared to 33.78%, for the same period in 2009. The annual return on average assets decreased to 1.61% for the three months ended March 31, 2010, compared to 2.14% for the same period in 2009.
"We are pleased to report solid earnings for the first quarter of 2010," stated B. G. Hartley, Chairman and Chief Executive Officer of Southside Bancshares, Inc. "We are using our earnings to strengthen our franchise by organically growing our capital as well as continuing to increase our shareholder cash dividend. During the first quarter we announced a 21.4% increase in the quarterly cash dividend and in a separate announcement, a 5% stock dividend."
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Life Insurance Policies
Buying life insurance policies seems overwhelming to many people. This daunting task often keeps people from actually purchasing life insurance policies. However, with a little research, people can become informed about different life insurance options, making the selection process much easier.
Choosing A Policy
Perhaps the biggest choice a consumer can make in terms of building well-rounded insurance plans is to determine the type of life insurance policies you need. Whole-life insurance policies include life insurance policies plus investment opportunities. Term life insurance policies are less expensive.
Many investment experts encourage people to keep your insurance and your investments separately. Whole-life insurance policies are expensive and are typically based on assumptions. Term life insurance policies are based on set dollar amounts each month or year and are set for a certain number of years.
Selecting A Coverage Amount
When determining how much life insurance coverage you need, you should determine how much your family relies on you for survival. If you have young children, a good rule of thumb is to purchase life insurance for the amount equivalent to 10 times your annual salary. If you have older children, a good rule of thumb is to purchase life insurance for the amount equivalent to five times your annual salary. You should also consider how much your spouse or significant other relies on your salary each month and year.
Selecting the right amount of coverage for your life insurance needs is a critical part of purchasing life insurance. If you are going to pay monthly or annual premiums, you want to make sure your family is protected in the case you should die during the term of the policy. In addition, you want to purchase a life insurance policy that contains as broad of payout terms as possible. You want your family to receive their payout upon your death.
Finding A Life Insurance Company
When you’re shopping for a life insurance company and life insurance agent, you should seek out at least three price quotes for similar policies, ask for references, talk with those references about issues pertinent to their policies and find out as much information about the life insurance firm as possible.
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