Southside Bancshares Named to Fortune 100 List
Posted/updated on: September 21, 2010 at 12:58 pm
TYLER — Tyler-based Southside Bancshares, Inc., is named as one of Fortune Magazines 100 Fastest-Growing Companies. According to Fortune, the Texas community bank won greater deposits and lent more to municipalities amid a tough credit environment.
In order to be ranked, companies must be trading on a major U.S. stock exchange; report data in U.S. dollars; file quarterly reports with the SEC; have a minimum market capitalization of $250 million and stock price of at least $5 on June 30, 2010; and have been trading continuously since June 30, 2007. Companies must have revenue and net income of at least $50 million and $10 million, respectively, for the four quarters ended on or before April 30, 2010. Southside officials say full information and disclosures can be found in the September 6, 2010, edition of Fortune magazine.
Southside Bancshares, Inc., is a bank holding company with approximately $3 billion in assets that owns 100% of Southside Bank. Southside Bank currently has 48 banking centers in Texas and operates a network of 49 ATMs.
