Southside Bancshares, Inc. Declares Fourth Quarter and Special Cash Dividends
03 Noviembre 2022 - 3:12PM
The Board of Directors of Southside Bancshares, Inc.,
(NASDAQ:SBSI), parent company of Southside Bank 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 scheduled for
payment on December 8, 2022, to common stock 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, which
demonstrates our strong financial performance and commitment to our
shareholders,” stated Lee R. Gibson, President and Chief Executive
Officer of Southside Bancshares, Inc. “We are proud to continue our
long record 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, that wholly-owns
Southside Bank. Southside Bank currently operates 56 branches and a
network of 75 ATMs/ITMs throughout East Texas, Southeast Texas and
the greater 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, treasury management, wealth
management, trust services, brokerage services and an array of
online and mobile services.
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 activities, financial
information and historical stock price data. To receive e-mail
notification of company news, events and stock activity, please
register on the E-mail Notification portion of the website.
Questions or comments may be directed to Julie Shamburger at (903)
531-7134, or julie.shamburger@southside.com.
Forward-Looking Statements
Certain statements of other than historical fact
that are contained in this press release and in other written
materials, documents and oral statements issued by or on behalf of
the Company may be considered to be “forward-looking statements”
within the meaning of and subject to the safe harbor protections of
the Private Securities Litigation Reform Act of
1995. These forward-looking statements are not
guarantees of future performance, nor should they be relied upon as
representing management’s views as of any subsequent
date. These statements may include words such as
“expect,” “estimate,” “project,” “anticipate,” “appear,” “believe,”
“could,” “should,” “may,” “might,” “will,” “would,” “seek,”
“intend,” “probability,” “risk,” “goal,” “target,” “objective,”
“plans,” “potential,” and similar
expressions. Forward-looking statements are statements
with respect to the Company’s beliefs, plans, expectations,
objectives, goals, anticipations, assumptions, estimates,
intentions and future performance and are subject to significant
known and unknown risks and uncertainties, which could cause the
Company's actual results to differ materially from the results
discussed in the forward-looking statements. For
example, discussions of the effect of our expansion, benefits of
the Share Repurchase Plan, trends in asset quality, capital,
liquidity, the Company's ability to sell nonperforming assets,
expense reductions, planned operational efficiencies and earnings
from growth and certain market risk disclosures, including the
impact of interest rates, tax reform, inflation, the impacts
related to or resulting from Russia’s invasion of Ukraine and other
economic factors are based upon information presently available to
management and are dependent on choices about key model
characteristics and assumptions and are subject to various
limitations. By their nature, certain of the market risk
disclosures are only estimates and could be materially different
from what actually occurs in the future. Accordingly,
our results could materially differ from those that have been
estimated. The most significant factor that could cause future
results to differ materially from those anticipated by our
forward-looking statements include the ongoing impact of higher
inflation levels, higher interest rates and general economic and
recessionary concerns, all of which could impact economic growth
and could cause a reduction in financial transactions and business
activities, including decreased deposits and reduced loan
originations, our ability to manage liquidity in a rapidly changing
and unpredictable market, supply chain disruptions, labor shortages
and additional interest rate increases by the Federal Reserve.
Additional information concerning 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 year ended
December 31, 2021, under “Part I - Item 1. Forward Looking
Information” and in the Company’s other filings with the Securities
and Exchange Commission. The Company disclaims any
obligation to update any factors or to announce publicly the result
of revisions to any of the forward-looking statements included
herein to reflect future events or developments.
For further information: Julie Shamburger (903)
531-7134
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