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
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 17, 2019, M. Richard Warner, a member of the Board of Directors of Southside Bancshares, Inc. (the “Company”), notified the Company of his intention to not stand for re-election at the Company’s next annual shareholder meeting in May 2019 (the “2019 Annual Meeting”). Mr. Warner will continue to serve as a director of the Company until the expiration of his term at the 2019 Annual Meeting. Mr. Warner was appointed to the Company’s Board of Directors in connection with the Company’s acquisition of Diboll State Bancshares, Inc. in 2017. Mr. Warner did not notify the Company of any disagreement with the Company on any matter relating to its operations, policies, or practices.
Also on January 17, 2019, Alton Cade, a member of the Company’s Board of Directors, notified the Company of his retirement as a director of the Company at the end of his term, effective with the date of the 2019 Annual Meeting. Mr. Cade has served as a director of the Company since 2003. Mr. Cade did not notify the Company of any disagreement with the Company on any matter relating to its operations, policies, or practices.
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.
