TYLER, Texas, Feb. 12, 2015 (GLOBE NEWSWIRE) -- The Board of Directors of Southside Bancshares, Inc., (Nasdaq:SBSI), parent company of Southside Bank approved a 4.5% increase in the regular quarterly cash dividend from $0.22 per common share to $0.23 per common share effective immediately. In a separate action the Board declared a regular quarterly cash dividend of $0.23 per common share. The cash dividend is payable to common stock shareholders of record February 26, 2015. The cash dividend is scheduled for payment on March 12, 2015.
About Southside Bancshares, Inc.
Southside Bancshares, Inc. is a bank holding company with approximately $4.9 billion in assets that owns 100% of Southside Bank. Southside Bank currently has 64 banking centers in Texas and operates a network of over 70 ATMs.
To learn more about Southside Bancshares, Inc., please visit our investor relations website at www.southside.com/investor. Southside's investor relations site provides a detailed overview of its 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 Lee Gibson at (903) 531-7221, or lee.gibson@southside.com. Media contact is Lonny Uzzell at (903) 531-7241, or lonny.uzzell@southside.com.
Forward-Looking Statements
Certain statements of other than historical fact that are contained in this press release and in other written materials and oral statements issued by or on behalf of Southside may be considered to be "forward-looking statements" within the meaning of and subject to the 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 Southside'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 Southside's actual results, respectively, to differ materially from the results discussed in the forward-looking statements. For example, statements about the future financial and operating results of Southside following the merger, Southside's plans, objectives, expectations and intentions, and other similar statements are not historical facts. Among the key factors that could cause actual results to differ materially from those indicated by such forward-looking statements are the following: (i) the risk that the businesses will not be integrated successfully; (ii) the risk that the anticipated cost savings and any other synergies expected from the transaction may not be fully realized or may take longer to realize than expected; (iii) disruption from the transaction making it more difficult to maintain relationships with customers, employees or vendors; (iv) the diversion of management time on merger-related issues; (v) liquidity risk affecting Southside's ability to meet their obligations when they come due (vi) general economic conditions, either nationally or in our market areas, that are worse than expected and (vii) changes in our financial condition or results of operations that reduce capital available to pay dividends.
Additional information concerning Southside and its respective business, including additional factors that could materially affect its respective financial results, is included in Southside's Annual Report on Form 10-K for the year ended December 31, 2013 under "Forward-Looking Information" and Item 1A. "Risk Factors," and in Southside's other filings with the Securities and Exchange Commission ("SEC"). Southside 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.