TYLER, Texas, Sept. 03, 2024 (GLOBE NEWSWIRE) -- Southside Bank, a subsidiary of Southside Bancshares, Inc. (NASDAQ:SBSI), has announced the opening of a new Loan Production Office (LPO) at 9595 Six Pines Drive, Bld 8, Level 2, Ste 8210 in The Woodlands. The Bank indicated their new LPO, opened on September 3, 2024, will specifically target the Commercial & Industrial (C&I) sector and business owners in greater North Houston and the surrounding areas. This expansion represents Southside's continued commitment to providing exceptional financial solutions and strengthening their presence in key Texas markets.
Amos McDonald has been appointed as Southside Bank Market President for North Houston. Under Amos's leadership, the Bank's new LPO will deliver tailored lending solutions and innovative services to support the growth and success of local and state businesses. Two Relationship Managers are expected to join the North Houston team in the coming weeks.
Curtis Burchard, Chief Lending Officer, shared his enthusiasm about the pending expansion: "The opening of our new LPO in The Woodlands is a significant milestone for Southside Bank. We are excited to have Amos leading this initiative. His expertise and vision will empower our team to offer unmatched support to clients and local business owners in the greater North Houston area. We look forward to making a positive impact in the community and driving growth with our customized lending solutions."
About Southside
Southside Bancshares, Inc., the holding company for Southside Bank, is headquartered in Tyler, Texas, with approximately $8.36 billion in assets as of June 30, 2024. Southside currently operates 54 branches and a network of 73 ATMs/ITMs throughout East Texas, Southeast Texas, and the greater Dallas/Fort Worth, Austin, and Houston areas. Additionally, Southside is affiliated with over 60,000 ATMs across the nation. 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.
Forward-Looking Statements
Certain statements of other than historical fact that are contained in this press release and in other written materials, documents and oral statements issued by or on behalf of the Company may be considered to be "forward-looking statements" within the meaning of and subject to the safe harbor 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," "might," "will," "would," "seek," "intend," "probability," "risk," "goal," "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 our expansion, benefits of the Share Repurchase Plan, trends in asset quality, capital, liquidity, the Company's ability to sell nonperforming assets, expense reductions, planned operational efficiencies and earnings from growth and certain market risk disclosures, including the impact of interest rates and our expectations regarding rate increases, tax reform, inflation, the impacts related to or resulting from other economic factors 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. Accordingly, our results could materially differ from those that have been estimated. The most significant factor that could cause future results to differ materially from those anticipated by our forward-looking statements include the ongoing impact of higher inflation levels, prolonged elevated interest rates and general economic and recessionary concerns, all of which could impact economic growth and could cause a reduction in financial transactions and business activities, including decreased deposits and reduced loan originations, our ability to manage liquidity in a rapidly changing and unpredictable market, labor shortages and changes in interest rates by the Federal Reserve.
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, 2023, under "Part I - Item 1. Forward Looking Information" and "Part I - 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.
Contact: Steven Campbell
Vice President, Director of Corporate Relations & Communications
Southside Bank
903.531.7158
[email protected]
