TYLER, Texas, Nov. 17 /PRNewswire-FirstCall/ -- The Board of Directors of
Southside Bancshares, Inc., (Nasdaq: SBSI), parent company of Southside Bank,
declared a special cash dividend on the Company's common stock of $0.02 per
share, in addition to declaring the regular quarterly cash dividend of $0.11
per share. The combined $0.13 per share dividend is payable December 15,
2005, to common stock shareholders of record December 1, 2005.
Southside Bank is a $1.7 billion community bank with thirty-one banking
centers in the East Texas area. The common stock of Southside Bancshares,
Inc. is traded through the NASDAQ National Market under the symbol of SBSI.
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 web site. Questions or comments may be directed
to Susan Hill at (903) 531-7220, or susanh@southside.com
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 Southside Bancshares, Inc., (the "Company") a bank
holding company, may be considered to be "forward-looking statements" as that
term is defined in the Private Securities Litigation Reform Act of 1995.
These statements may include words such as "expect," "estimate," "project,"
"anticipate," "believe," "could," "should," "may," "intend," "probability,"
"risk," "target," "objective," "plans," "potential," and similar expressions.
Forward-looking statements are subject to significant risks and uncertainties
and the Company's actual results may differ materially from the results
discussed in the forward-looking statements. For example, certain market risk
disclosures 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.
Other factors that could cause actual results to differ materially from
forward-looking statements include, but are not limited to general economic
conditions, either globally, nationally, in the State of Texas, or in the
specific markets in which the Company operates, legislation or regulatory
changes which adversely affect the businesses in which the Company is engaged,
adverse changes in Government Sponsored Enterprises (the "GSE") status or
financial condition impacting the GSE guarantees or ability to pay or issue
debt, economic or other disruptions caused by acts of terrorism in the United
States, Europe or other areas or military actions in Iraq, Afghanistan or
other areas, changes in the interest rate yield curve such as flat, inverted
or steep yield curves, or interest rate environment which impact interest
margins and may impact prepayments on the mortgage-backed securities
portfolio, changes impacting the leverage strategy, significant increases in
competition in the banking and financial services industry, changes in
consumer spending, borrowing and saving habits, technological changes, the
Company's ability to increase market share and control expenses, the effect of
changes in federal or state tax laws, the effect of compliance with
legislation or regulatory changes, the effect of changes in accounting
policies and practices and the costs and effects of unanticipated litigation.
SOURCE Southside Bancshares, Inc.
-0- 11/17/2005
/CONTACT: Lee Gibson of Southside Bancshares, Inc., +1-903-531-7221/
/Web site: http://www.southside.comhttp://www.southside.com/investor /
(SBSI)
CO: Southside Bancshares, Inc.
ST: Texas
IN: FIN
SU: DIV
CT-CJ
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3817 11/17/200516:42 ESThttp://www.prnewswire.com