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KBRA Releases Surveillance Report for Southside Bancshares, Inc.
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KBRA affirms ratings for Southside Bancshares, Inc.
Positive
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Negative
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NEW YORK--(BUSINESS WIRE)--
On August 11, 2023, KBRA affirmed the senior unsecured debt rating of BBB+, the subordinated debt rating of BBB, and the short-term debt rating of K2 for Tyler, Texas-based Southside Bancshares, Inc. (NASDAQ: SBSI) (“the company”). KBRA also affirmed the deposit and senior unsecured debt ratings of A-, the subordinated debt rating of BBB+, and the short-term deposit and debt ratings of K2 for the bank subsidiary, Southside Bank. The Outlook for all long-term ratings is Stable.
To access rating and relevant documents, click here.
KBRA is a full-service credit rating agency registered in the U.S., the EU, and the UK, and is designated to provide structured finance ratings in Canada. KBRA’s ratings can be used by investors for regulatory capital purposes in multiple jurisdictions.
southside bancshares, inc., the holding company for southside bank, is headquartered in tyler, texas. with approximately $4.9 billion in assets, southside is the ninth-largest bank headquartered in texas, by deposits. southside bank operates 64 banking facilities in east, north and central texas. the bank also operates a network of over 70 local atms, and is affiliated with more than 55,000 foreign atms worldwide. established in 1960, southside bank is a community-focused financial institution that offers a full range of financial services to individuals, businesses and nonprofit organizations. these services include: consumer and commercial loans; mortgages; loans to municipalities; personal, small business and commercial deposit accounts; safe deposit boxes; business services; credit cards; atms; trust and wealth management; brokerage services; and an array of online and mobile services. member fdic equal housing lender
