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

TYLER, Texas, Nov. 10, 2020 (GLOBE NEWSWIRE) -- The Board of Directors of Southside Bancshares, Inc., (NASDAQ:SBSI), parent company of Southside Bank, approved a 3.2% increase to the regular quarterly cash dividend of $0.01, to $0.32 per common share and declared a regular quarterly cash dividend of $0.32 per common share. In a separate action, the Board declared a special cash dividend of $0.05 per common share. The combined cash dividend of $0.37 is scheduled for payment on December 10, 2020, to common stock shareholders of record on November 25, 2020.

“We are very pleased to announce a $0.01, or 3.2% increase to the regular quarterly cash dividend and a special cash dividend of $0.05, which reflects our strong financial performance amidst the challenges of the pandemic and the impact to the economic environment,” stated Lee R. Gibson, President and Chief Executive Officer of Southside Bancshares, Inc. “We are proud to continue our long history of returning capital to our shareholders. The dividend payment will mark our 93^rd consecutive quarterly dividend and our 17^th consecutive year of special cash dividends.”

About Southside Bancshares, Inc.

Southside Bancshares, Inc. is a bank holding company headquartered in Tyler, Texas, with approximately $7.19 billion in assets as of September 30, 2020. Through its wholly-owned subsidiary, Southside Bank, Southside currently operates 57 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 Lindsey Bailes at [phone], or [e-mail].