Southside Bancshares Inc (SU7)

Overview

Southside Bancshares, Inc. functions as the bank holding company for Southside Bank, delivering a comprehensive range of financial services tailored to the needs of individuals, businesses, municipal entities, and nonprofit organizations. Established in 1960 and headquartered in Tyler, Texas, Southside Bancshares has evolved to provide a diverse array of banking solutions through its network of branches, drive-thru facilities, automated teller machines (ATMs), and interactive teller machines, ensuring accessibility and convenience for its clients. The bank focuses on fostering community growth and individual financial well-being with its extensive service suite.

Products and Services

Deposit Products: These include savings, money market, and checking accounts, both with and without interest, along with certificates of deposits. These products offer a secure way for individuals and organizations to manage their cash flows and save for the future.

Loan Portfolio:

• Consumer Loans: This category comprises loans for personal use such as 1-4 family residential loans, home equity loans, home improvement loans, automobile loans, and other related consumer loans, enabling customers to finance their personal needs.
• Commercial Loans: These loans include short-term working capital loans for managing inventory and accounts receivable, medium-term loans for equipment or business expansion, commercial real estate loans, and loans for municipal entities, tailored to support businesses in their growth and operational activities.
• Construction Loans: Aimed at financing the construction of 1-4 family residential and commercial real estate, supporting both individual homeowners and commercial entities in their development projects.

Wealth Management and Trust Services: This encompasses investment management, administration of a variety of trusts, estate administration, and custodian services catering to the needs of individuals, partnerships, and corporations seeking to manage and secure their wealth for the future.

Safe Deposit Services: Offering secure storage options for valuable items and documents, ensuring peace of mind for customers regarding the safety of their possessions.

Brokerage Services: These services allow customers to engage in the buying and selling of securities, providing an avenue for investment and financial growth.

Retirement and Employee Benefit Accounts: Includes the management of retirement accounts and profit-sharing plans, supporting employers and employees in planning for a financially secure retirement.

Electronic Banking Services: Southside Bancshares ensures customer banking convenience through telephone, internet, and mobile banking services, enabling account management from anywhere at any time.