Southside Bancshares, Inc. (NASDAQ:SBSI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Southside Bancshares, Inc. (NASDAQ:SBSI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On June 19, 2017, the Board of Directors (the “Board”) of Southside Bancshares, Inc. (the “Company”) appointed Brian K. McCabe to serve as Senior Executive Vice President and Chief Operating Officer of the Company.
Mr. McCabe, 56, previously served as Executive Vice President of the Company since 2014. He served as an Executive Vice President and Chief Information Officer of Southside Bank from 2016 to 2017. He is also an advisory director of Southside Bank. He joined Southside Bank in 1983, and since that time has managed different operational and electronic banking areas. Mr. McCabe is a graduate of Stephen F. Austin State University, with a degree in Business Data Processing and minor in finance, and the Southwest Graduate School of Banking. He currently serves on the Board of East Texas Lighthouse for the Blind. Mr. McCabe has previously served on the Board of Directors of the Tyler Area Chamber of Commerce, United Way of Smith County and Smith County American Red Cross.
In connection with Mr. McCabe’s appointment as Senior Executive Vice President and Chief Operating Officer of the Company, Mr. McCabe’s annual salary was increased by $25,000.
There are no familial relationships between Mr. McCabe and any director or executive officer of the Company. In addition, there are no arrangements between Mr. McCabe and any other person to which Mr. McCabe was selected as an officer.>>Finally, Mr. McCabe has not engaged in any transaction with the Company that would be reportable as a related party transaction under Item 404(a) of Regulation S-K.
Also on June 19, 2017, the Board appointed Julie N. Shamburger to serve as Senior Executive Vice President and Chief Financial Officer of the Company, having previously served as Executive Vice President and Chief Financial Officer. Ms. Shamburger also continues to serve as Senior Executive Vice President and Chief Financial Officer of Southside Bank. The Board also appointed Tim Alexander to serve as Chief Lending Officer of the Company. Mr. Alexander continues to serve as Chief Lending Officer of Southside Bank.
About Southside Bancshares, Inc. (NASDAQ:SBSI)
Southside Bancshares, Inc. (Southside) is a bank holding company for Southside Bank (the Bank). The Company is a community-focused financial institution that offers a range of financial services to individuals, businesses, municipal entities, and nonprofit organizations in the communities. The Company operates through approximately 60 banking centers, over 20 of which are located in grocery stores, and 25 motor bank facilities. Its services include consumer and commercial loans, deposit accounts, trust services, safe deposit services and brokerage services. The Company’s consumer loan services include one- to four-family residential mortgage loans, home equity loans, home improvement loans, automobile loans and other installment loans. The Company’s Commercial real estate loans primarily include loans collateralized by commercial office buildings, retail, medical facilities and offices, warehouse facilities, hotels and churches.
Southside Bancshares, Inc. (Southside) is a bank holding company for Southside Bank (the Bank). The Company is a community-focused financial institution that offers a range of financial services to individuals, businesses, municipal entities, and nonprofit organizations in the communities. The Company operates through approximately 60 banking centers, over 20 of which are located in grocery stores, and 25 motor bank facilities. Its services include consumer and commercial loans, deposit accounts, trust services, safe deposit services and brokerage services. The Company’s consumer loan services include one- to four-family residential mortgage loans, home equity loans, home improvement loans, automobile loans and other installment loans. The Company’s Commercial real estate loans primarily include loans collateralized by commercial office buildings, retail, medical facilities and offices, warehouse facilities, hotels and churches.
