TYLER, Texas, Nov. 13 /PRNewswire-FirstCall/ -- The Board of Directors of
Southside Bancshares, Inc. (Nasdaq: SBSI), parent company of Southside Bank,
declared a special cash dividend of $0.06 per common share in addition to
declaring a regular quarterly cash dividend of $0.13 per share. 'This special
cash dividend was approved by the Board of Directors as a tangible method for
shareholders to share in Southside's positive results reported during the
first nine months of 2008,' stated B. G. Hartley, Chairman of the Board and
CEO. The combined $0.19 per share cash dividend is payable to common stock
shareholders of record November 26, 2008. The cash dividend is scheduled for
payment on December 11, 2008.
Southside Bancshares, Inc. is a bank holding company with approximately
$2.5 billion in assets that owns 100% of Southside Bank. Southside Bank
currently has 44 banking centers in Texas and operates a network of 47 ATMs.
To learn more about Southside Bancshares, Inc., please visit our investor
relations website at http://www.southside.com/investor. 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
Susan Hill at (903) 531-7220, or susan.hill@southside.com.
Forward-Looking Statements
Certain statements of other than historical fact that are contained in
this document and in written material, press releases and oral statements
issued by or on behalf of the Company, a bank holding company, 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,' '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, estimates, intentions and
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 of the effect of the Company's expansion, including
expectations of the costs and profitability of such expansion, trends in asset
quality and earnings from growth, and certain market risk disclosures 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. As a result, actual income gains and losses could materially
differ from those that have been estimated.
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, 2007 under 'Forward-Looking Information' and 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.
SOURCE Southside Bancshares, Inc.
