Alton Frailey appointed to the Board of Directors of Southside Bancshares, Inc.


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TYLER, TX, December 20, 2021 (GLOBE NEWSWIRE) – Southside Bancshares, Inc. (the “Company”) (NASDAQ: SBSI), the holding company of Southside Bank (the “Bank”), has announced the appointment of Alton L. Frailey to the Company’s Board of Directors on November 24, 2021, effective January 1, 2022, bringing the size of the Company’s board of directors to 17 members. Mr. Frailey was also appointed to the Bank’s Board of Directors, effective January 1, 2022, bringing the size of the Bank’s board to 18 members.

Residing in the greater Houston area, Mr. Frailey is President of Alton L. Frailey & Associates, LLC, specializing in leadership development, community engagement, school board team building and executive coaching. Mr. Frailey has been involved in education for 35 years, most recently serving as Superintendent of the Katy Independent School District.

“We are very pleased to welcome Alton to Southside,” said Lee R. Gibson, CEO of Southside Bancshares, Inc. “Alton’s extensive experience in executive leadership and administration will enrich our boards of administration. We look forward to benefiting from his expertise.

Mr. Frailey’s leadership roles include chairing the board of trustees of Stephen F. Austin State University and the Legislative Council of the College Interscholastic League, as well as chairman of the American Association of School Administrators. . He has also served on the boards of many community and civic organizations, including the Katy Area Chamber of Commerce, the Katy Area Economic Development Council, and Junior Achievement of Southeast Texas. Her efforts have received numerous honors and accolades, including Region 4 Administrator of the Year, the Who’s Who for Executives and Professionals, and the Trailblazer Award from the South Dallas Business and Professional Women’s Club, Inc.

About Southside Bancshares, Inc.

Southside Bancshares, Inc. is a banking holding company headquartered in Tyler, Texas with approximately $ 7.14 billion in assets as of September 30, 2021, which 100% owns Southside Bank. Southside Bank currently operates 56 branches and a network of 73 ATMs / ATMs in East Texas, Southeast Texas and the greater Dallas / Fort Worth, Austin and Houston areas. Serving clients since 1960, Southside Bank is a community-based financial institution that provides a full range of financial products and services to individuals and businesses. These products and services include consumer and business loans, mortgages, deposit accounts, safes, cash management, wealth management, trust services, brokerage services and a range of services. online and mobile.

To learn more about Southside Bancshares, Inc., please visit our Investor Relations website at https://investors.southside.com. Our Investor Relations site provides a detailed overview of our business, financial information and historical stock price data. To receive email notification of company news, events and stock market activity, please register on the Email Notification portion of the website. Questions or comments can be directed to Lindsey Bailes at (903) 630-7965 or [email protected]

Forward-looking statements

Certain statements of non-historical fact that are contained in this press release and in other written documents, documents and oral statements issued by or on behalf of the Company may be considered “forward-looking statements” within the meaning of and under 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 and should not be construed as representing the views of management at any later date. These statements may include words such as “expect”, “estimate”, “plan”, “anticipate”, “appear”, “believe”, “could”, “should”, “could”, “could”, “Could”, “” would “,” seek “,” intend “,” the probability “,” the risk “,” the goal “,” the target “,” the objective “,” the plans ” , “The potential” and similar expressions. Forward-looking statements are statements about the beliefs, plans, expectations, objectives, goals, expectations, assumptions, estimates, intentions and future performance of the company and are subject to known risks and uncertainties and material unknowns, which could lead to the actual results of the company. differ materially from the results discussed in forward-looking statements. For example, discussions on the effect of our expansion, the benefits of the share buyback plan, trends in asset quality, capital, liquidity, the Company’s ability to sell non-performing assets, spending cuts, expected operational efficiencies and benefits from growth and certain information on market risks, including the impact of interest rates, tax reform, inflation and other economic factors are based on information currently available to management and depend on choices regarding the main features and assumptions of the model and are subject to various limitations. By its nature, some of the market risk information is only an estimate and could be materially different from what actually happens in the future. Therefore, our results could differ materially from those estimated. The most recent factor that could cause future results to differ materially from those anticipated by our forward-looking statements include the negative impact of the COVID-19 pandemic and related variations on our business, financial condition, operations and our outlook, including our ability to continue doing business in some of the communities we serve, the duration of the pandemic and its continued effects on financial markets, a reduction in financial transactions and business activities resulting in a decrease in deposits and emissions loans, rising unemployment rates impacting our borrowers’ ability to repay their loans, our ability to manage liquidity in a rapidly changing and unpredictable market, further changes in interest rates by the Federal Reserve and other government measures in response to the pandemic, including taken any regulations or laws enacted to counter the effects of the COVID-19 pandemic on the economy.

Additional information regarding the Company and its activities, including additional factors that could significantly affect the financial results of the Company, is included in the Company’s annual report on Form 10-K for the year ended December 31. 2020, under the heading “Part I – Article 1. Forward-looking information” and in other documents filed by the Company with the Securities and Exchange Commission. The Company disclaims any obligation to update any factors or publicly announce the result of revisions to any of the forward-looking statements included in this document to reflect future events or developments.

Investor Relations: Lindsey [email protected]

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Source: Southside Bancshares, Inc.


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