UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
December 17, 2019
Date of Report (Date of earliest event reported)
Southside Bancshares Inc
(Exact Name of Registrant as Specified in its Charter)
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| Texas | 000-12247 | 75-1848732 |
| (State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
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| 1201 S. Beckham Avenue, | Tyler, | TX | | 75701 |
| (Address of Principal Executive Offices) | | (Zip Code) |
Registrant's telephone number, including area code: (903) 531-7111
NA
(Former Name or Former Address, if Changed Since Last Report)
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| Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: |
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| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities Registered Pursuant to Section 12(b) of the Act: |
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| Title of each class | | Trading Symbol | | Name of each exchange on which registered |
| Common stock, $1.25 par value | | SBSI | | NASDAQ Global Select Market |
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| Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). | |
| | Emerging growth company | ☐ |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. | ☐ |
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On December 17, 2019, H. J. Shands III, Regional President of East Texas and director of Southside Bancshares, Inc. (the “Company”) and director of Southside Bank (the “Bank”), a subsidiary of the Company, notified the Company of his decision to retire as Regional President of East Texas, effective April 30, 2020. Mr. Shands will continue as a member of the Board of Directors of the Company and the Bank.
Following his retirement, Mr. Shands will receive director compensation consistent with other non-employee directors. Mr. Shands did not previously receive any separate compensation for serving on the Board during his tenure as an executive with the Company.
Mr. Shands joined the Company through the acquisition of Diboll State Bancshares, Inc. on November 30, 2017 and previously served as President and Chief Executive Officer of First Bank & Trust East Texas for 26 years.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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| | | Southside Bancshares, Inc. |
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| Date: January 6, 2020 | By: | /s/ JULIE N. SHAMBURGER |
| | | Julie N. Shamburger, CPA |
| | | Senior Executive Vice President and Chief Financial Officer |
| | | (Principal Financial and Accounting Officer) |
