Southside Bancshares, Inc. (SBSI) - NASDAQ
  • Thu, May 26, 1:00 PM
    | Thu, May 26, 1:00 PM | 1 Comment
  • Jan. 21, 2015, 7:40 PM
    • Endo International (NASDAQ:ENDP) +2.9% AH on news it will join the S&P 500 later this month, replacing Covidien (NYSE:COV) after its acquisition by Medtronic (NYSE:MDT), which is expected to close next week.
    • Also, Boston Beer (NYSE:SAM) will take ENDP’s spot on the S&P MidCap 400, and Southside Bancshares (NASDAQ:SBSI) is tapped to join the S&P SmallCap 600.
    | Jan. 21, 2015, 7:40 PM | 1 Comment
  • Apr. 29, 2014, 1:19 PM
    • In another community bank deal, OmniAmerican Bancorp (OABC +9.2%) will merge into Southside Bancshares (SBSI -8.6%) to create the 9th largest lender by deposits headquartered in Texas.
    • OABC shareholders will receive 0.4459 shares of Southside common stock, plus $13.125 in cash for each share of OABC they own. Based on Southside's closing price of $30.46 (before the deal was announced), this values each OmniAmerican share at $26.71, or a total value of $307M.
    • Southside expects the deal to be accretive to earnings in the first full year after closing.
    • Kudos to SA Pro's Unconventional Capital Wisdom who seven weeks ago suggested an overcapitalized OABC would make an attractive takeover target. Today's offer, though, is well-below the 1.5x-1.6x book value, or $31-$33 per share the author posited as a possible buyout price.
    | Apr. 29, 2014, 1:19 PM
Company Description
Southside Bancshares, Inc. operates as a bank holding company for Southside Bank. The bank engages in the provision of financial services, which includes consumer and commercial loans, loans to municipalities, deposit accounts, trust, personal banking, safe deposit boxes, brokerage services,... More
Sector: Financial
Industry: Regional - Mid-Atlantic Banks
Country: United States