Southside Bancshares (SBSI) Announces Stock Repurchase Plan

Southside Bancshares, Inc. (the “Company”) (NASDAQ: SBSI), the holding company of Southside Bank, announced that its Board of Directors has authorized a Stock Repurchase Plan, under which the Company may repurchase, from time to time, up to 1 million shares of its outstanding common stock.

“We are pleased to announce the authorization of the Stock Repurchase Plan, which reflects our confidence in Southside and our commitment to enhance shareholder value,” stated Lee R. Gibson, Chief Executive Officer of Southside Bancshares, Inc.

Repurchases may be carried out in open market purchases, privately negotiated transactions or pursuant to any trading plan that might be adopted in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The Company has no obligation to repurchase any shares under the Stock Repurchase Plan and may suspend or discontinue the plan at any time.

Any repurchases made pursuant to a trading plan under Rule 10b5-1 will be made in accordance with certain trading parameters set forth in the plan, as well as the price, volume and timing limitations set forth under Rule 10b-18 of the Exchange Act. A trading plan under Rule 10b5-1 allows a company to repurchase its shares at times when it otherwise might be prevented from doing so by securities law or because of self-imposed trading blackout periods.

You May Also Be Interested In

• Cosmos Health retires $8M convertible note a year early, buys back stock
• BMO plans to buy back up to 25 million common shares
• Neptune Digital Assets renews share buyback program for up to 11.4M shares