Southside Bancshares, Inc. Declares Cash Dividend
August 06 2020 - 5:15PM
The Board of Directors of Southside Bancshares, Inc.,
(NASDAQ:SBSI), parent company of Southside Bank, declared a regular
quarterly cash dividend of $0.31 per common share. The cash
dividend is scheduled for payment on September 3, 2020, to common
stock shareholders of record on August 20, 2020.
About Southside Bancshares,
Inc.
Southside Bancshares, Inc. is a bank holding
company headquartered in Tyler, Texas, with approximately $7.33
billion in assets as of June 30, 2020. Through its
wholly-owned subsidiary, Southside Bank, Southside currently
operates 59 branches and a network of 80 ATMs/ITMs throughout East
Texas, Southeast Texas, Dallas/Fort Worth and Austin. 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
material, 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,” “likely,” “intend,” “probability,”
“risk,” “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 and estimates about
the Company's 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 about trends in asset quality, capital,
liquidity, the pace of loan and revenue growth, the Company's
ability to sell nonperforming assets, expense reductions, planned
operational efficiencies, earnings, successful integration of
completed acquisitions and certain market risk disclosures,
including the impact of interest rates, tax reform 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. The most recent
factor that could cause future results to differ materially from
those anticipated by our forward-looking statements include the
negative impact of the novel coronavirus (“COVID-19”) pandemic on
our business, financial position, operations and prospects,
including our ability to continue our business activities in
certain communities we serve, the duration of the pandemic and its
continued effects on financial markets, a reduction in financial
transactions and business activities resulting in decreased
deposits and reduced loan originations, increases in unemployment
rates impacting our borrowers' ability to repay their loans, our
ability to manage liquidity in a rapidly changing and unpredictable
market, additional interest rate changes by the Federal Reserve and
other government actions in response to the pandemic, including
additional quarantines, regulations or laws enacted to counter the
effects of the COVID-19 pandemic on the economy.
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, 2019, under “Part I - Item 1. Forward Looking
Information” and “Part I - Item 1A. Risk Factors,” “the Company's
Quarterly Report on Form 10-Q for the quarter ended June 30, 2020,
under Part II - Item 1A. Risk Factors” 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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