Southside Bancshares, Inc. Announces Transfer of Listing of Common Stock to the New York Stock Exchange
Rhea-AI Summary
Southside Bancshares (NASDAQ: SBSI) announced the transfer of its common stock listing from Nasdaq Global Select Market to the New York Stock Exchange (NYSE). Trading on NYSE will begin November 15, 2024, maintaining the 'SBSI' ticker symbol. The company, which went public on Nasdaq in 1998, has grown from a single branch to over 55 locations across Texas, reaching nearly $8.5 billion in assets by end of 2023. The last trading day on Nasdaq will be November 14, 2024.
Positive
- Growth from $1 billion in assets in 2000 to $8.5 billion by end of 2023
- Expansion from single branch to over 55 locations across Texas
- Potential increased visibility from NYSE listing
Negative
- None.
News Market Reaction – SBSI
In the trading session that priced this news, SBSI declined 0.43%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
TYLER, Texas, Nov. 04, 2024 (GLOBE NEWSWIRE) -- Southside Bancshares, Inc. (NASDAQ: SBSI) (the “Company” or “Southside”), the parent company of Southside Bank, announced today that it is transferring the listing of its common stock to the New York Stock Exchange (“NYSE”) from the Nasdaq Global Select Market (“Nasdaq”). Southside’s common stock is expected to begin trading on the NYSE on November 15, 2024, under the existing ticker symbol of “SBSI”. Southside expects its common stock to continue to trade on Nasdaq until the close of the market on November 14, 2024.
“We are excited to announce the transfer of Southside’s stock listing to the NYSE,” said Lee R. Gibson, Chief Executive Officer of Southside Bancshares, Inc. “Our Texas-based franchise markets include some of the strongest and fastest growing markets in the country. We look forward to joining many of the world’s leading and most prestigious companies that trade on the NYSE and are excited to leverage the NYSE platform and trading model for the benefit of our shareholders.”
Since its initial public offering on Nasdaq in 1998, Southside Bancshares has seen continuous and significant growth – surpassing
“We are thrilled to welcome Southside Bancshares, Inc. to the New York Stock Exchange,” said Chris Taylor, Global Head of Listings, NYSE. “With its deep roots in Texas and history of supporting local economies, Southside is a welcome addition to our NYSE community, which is home to numerous Texas-based companies and many of the world’s leading banks.”
ABOUT SOUTHSIDE BANCSHARES, INC.
Southside Bancshares, Inc. is a bank holding company headquartered in Tyler, Texas, with approximately
Contact:
Julie Shamburger
Chief Financial Officer
903-531-7134
