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Stock impact report

SOUTHSIDE BANCSHARES, INC. INCREASES STOCK REPURCHASE PLAN AUTHORIZATION

Southside Bancshares, Inc. (SBSI) 
Last southside bancshares, inc. earnings: 1/31 06:30 am Check Earnings Report
US:NASDAQ Investor Relations: southside.com/investor-relations-proxy
Company Research Source: GlobeNewswire
TYLER, Texas, March 13, 2020 (GLOBE NEWSWIRE) -- Southside Bancshares, Inc. (NASDAQ:SBSI), the holding company of Southside Bank, announced that its Board of Directors has increased its authorization under the Company’s current Stock Repurchase Plan (the “Plan”) by an additional 1.0 million shares, for a total authorization to repurchase up to 2.0 million shares of the Company's common stock from time to time. Under the Plan, previously announced in September 2019, the Company has purchased approximately 387,000 shares at an average price of $31.52 through March 12, 2020, resulting in approximately 1.6 million authorized shares remaining. “We believe the recent market volatility has created an opportunity to purchase our shares at attractive price levels,” stated Lee R. Gibson, President and Chief Executive Officer of Southside.  “The increased authorization reflects our continued confidence in Southside and commitment to returning capital to our shareholders.” Repurchases may be Show less Read more
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