Southside Bancshares Inc
Southside Bancshares, Inc., incorporated in Texas in 1982, is a bank holding
company for Southside Bank, a Texas state bank headquartered in Tyler, Texas
that was formed in 1960. We operate through 60 banking centers, 18 of which
are located in grocery stores, and 26 motor bank facilities.
We have paid a cash dividend every year since 1970 (including dividends paid
by Southside Bank prior to the incorporation of Southside Bancshares).
We are a community-focused financial institution that offers a full range of
financial services to individuals, businesses, municipal entities, and nonprofit
organizations in the communities that we serve. These services include consumer
and commercial loans, deposit accounts, trust services, safe deposit services
and brokerage services.
Our consumer loan services include 1-4 family residential loans, home equity
loans, home improvement loans, automobile loans and other installment loans.
Commercial loan services include short-term working capital loans for inventory
and accounts receivable, short and medium-term loans for equipment or other
business capital expansion, commercial real estate loans and municipal loans.
We also offer construction loans for 1-4 family residential and commercial real
estate.
We offer a variety of deposit accounts with a wide range of interest rates and
terms, including savings, money market, interest and noninterest bearing checking
accounts and certificates of deposit (“CDs”). Our trust services
include investment management, administration and advisory services, primarily
for individuals and, to a lesser extent, partnerships and corporations.
Our business strategy includes evaluating expansion opportunities through acquisitions
of financial institutions in market areas that could complement our existing
franchise. We generally seek merger partners that are culturally similar, have
experienced management and possess either significant market presence or have
potential for improved profitability through financial management, economies
of scale and expanded services. During 2014, we acquired OmniAmerican Bancorp,
Inc., a bank holding company traded on the NASDAQ Global Market and the holding
company for OmniAmerican Bank, a federal savings association, headquartered
in Fort Worth, Texas.