Southside Bancshares, Inc. Declares Fourth Quarter Cash Dividends and Special Dividends

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Southside Bancshares, Inc.

TYLER, Texas, Nov. 03, 2022 (GLOBE NEWSWIRE) — The board of directors of Southside Bancshares, Inc., (NASDAQ: SBSI), parent company of Southside Bank, has declared a regular quarterly cash dividend of 0.34 $ per common share. In a separate action, the board declared a special cash dividend of $0.04 per common share. The combined cash dividend of $0.38 is to be paid on December 8, 2022 to common shareholders of record on November 23, 2022.

“We are very pleased to announce our regular quarterly cash dividend and a special cash dividend of $0.04, demonstrating our strong financial performance and commitment to our shareholders,” said Lee R. Gibson, Chairman and CEO of Southside Bancshares, Inc. “We are proud to continue our long list of annual dividend increases.”

About Southside Bancshares, Inc.

Southside Bancshares, Inc. is a bank holding company headquartered in Tyler, Texas with approximately $7.45 billion in assets as of September 30, 2022, which wholly owns Southside Bank. Southside Bank currently operates 56 branches and a network of 75 ATMs/ATMs in East Texas, Southeast Texas, and the Dallas/Fort Worth, Austin, and Houston areas. Serving customers since 1960, Southside Bank is a community-focused financial institution that offers a full range of financial products and services to individuals and businesses. These products and services include consumer and commercial loans, mortgages, deposit accounts, safe deposit boxes, cash management, wealth management, trust services, brokerage services and a range of online and mobile.

To learn more about Southside Bancshares, Inc., please visit our Investor Relations website at https://investors.southside.com. Our Investor Relations site provides a detailed overview of our business, financial information and historical stock price data. To receive email notification of company news, events and stock market activity, please sign up on the Email Notification portion of the website. Questions or comments can be directed to Julie Shamburger at (903) 531-7134, or [email protected]

Forward-looking statements

Certain statements other than historical fact contained in this press release and in other written materials, documents and oral statements issued by or on behalf of the Company may be deemed “forward-looking statements” within the meaning and subject to them. safe harbor protections of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not guarantees of future performance and should not be relied upon as representing the views of management as of any future date. These statements may include words such as “expect”, “estimate”, “project”, “anticipate”, “appear”, “believe”, “could”, “should”, “may”, “could”. , “will,” “would seek,” “seek,” “intend,” “probability,” “risk,” “goal,” “target,” “objective,” “plan,” “potential,” and expressions Forward-looking statements are statements about the beliefs, plans, expectations, objectives, goals, anticipations, assumptions, estimates, intentions and future performance of the Company and are subject to important risks. and known and unknown uncertainties, which could cause the actual results of the Company to differ materially from the results discussed in the forward-looking statements. For example, discussions about the effect of our expansion, the benefits of the share repurchase plan, the trends in asset quality, capital, liquidity, capacity of the a company to sell non-performing assets, expense reductions, expected operating efficiencies and growth benefits and certain information on market risks, including the impact of interest rates, tax reform, the inflation, impacts related to or resulting from Russia’s invasion of Ukraine and other economic factors are based on information currently available to management and depend on choices regarding key model features and assumptions and are subject to to various limitations. By their nature, certain market risk information is only an estimate and could differ materially from what actually occurs in the future. Accordingly, our results could differ materially from those estimated. The most important factor that could cause future results to differ materially from those anticipated by our forward-looking statements includes the continued impact of higher levels of inflation, higher interest rates and economic and recessionary concerns. general, all of which could impact economic growth and cause a reduction in financial transactions and business activity, including reduced deposits and loan originations, our ability to manage liquidity in a rapidly changing and unpredictable market , supply chain disruptions, labor shortages and further interest rate hikes by the Federal Reserve.

Additional information regarding the Company and its business, including additional factors that could materially affect the Company’s financial results, is included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, under “Part I – Point 1”. Forward-Looking Information” and in other documents filed by the Company with the Securities and Exchange Commission. The Company disclaims any obligation to update any factors or publicly announce the outcome of any revisions to any of the forward-looking statements included herein to reflect future events or developments.

For more information:
Julie Hamburger
(903) 531-7134

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