Southside Bancshares, Inc. Named A Top 10 Banking Powerhouse

TYLER, Texas, Jan. 12, 2021 (GLOBE NEWSWIRE) -- Southside Bancshares, Inc. (“Southside”) (NASDAQ:SBSI), the holding company of Southside Bank, has been named one of the Top 10 Banking Powerhouses in America by Bank Director. The 2021 RankingBanking study of performance powerhouse banks (the “Study”) also ranked Southside as one of the top three banks in America for creating long-term value, named the board of directors the best in Texas, and identified Southside as the best bank to work for in Texas.

According to the Federal Deposit Insurance Corporation, there are currently just over 5,000 federally-insured banking institutions in America. Bank Director, the leading information resource for directors and officers of financial institutions nationwide, partnered with Crowe LLP, a public accounting firm with a global presence, to identify the very best banks.

“We are extremely proud to be recognized as one of the top 10 performance powerhouse banks by Bank Director,” said Lee R. Gibson, President and Chief Executive Officer of Southside Bancshares, Inc. “This recognition is a true reflection of our long-standing commitment to add value to our customers, employees, shareholders, and the communities we serve.”

The Study was designed to be overarching, ranking banks in order to determine the specific institutions that have built enviable value and contain the building blocks of long-term performance for their shareholders. This historic evaluation examined and compared specific details crucial to a successful bank. Banks were initially selected based on total shareholder return generated over a 20-year period ending June 30, 2020, and then examined and ranked in 10 categories based on company data over a five-year period ending December 2019.

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 79 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.