Southside Bank Opens Commercial Loan Office in The Woodlands
Southside Bank, a subsidiary of Southside Bancshares, Inc. (Nasdaq: SBSI), has opened a new Loan Production Office (LPO) in The Woodlands, Texas, on September 3, 2024. The LPO, located at 9595 Six Pines Drive, will focus on the Commercial & Industrial (C&I) sector and business owners in greater North Houston and surrounding areas. This expansion demonstrates Southside's commitment to strengthening its presence in key Texas markets.
Amos McDonald has been appointed as Southside Bank Market President for North Houston, leading the new LPO in delivering tailored lending solutions and innovative services. Two Relationship Managers are expected to join the North Houston team soon. Curtis Burchard, Chief Lending Officer, expressed enthusiasm about the expansion, highlighting the potential for positive community impact and business growth through customized lending solutions.
Southside Bank, una sussidiaria di Southside Bancshares, Inc. (Nasdaq: SBSI), ha aperto un nuovo Ufficio di Produzione Prestiti (LPO) a The Woodlands, Texas, il 3 settembre 2024. L'LPO, situato al 9595 Six Pines Drive, si concentrerà sul settore Commerciale e Industriale (C&I) e sui proprietari di aziende nella vasta area del North Houston e nelle zone circostanti. Questa espansione dimostra l'impegno di Southside nel rafforzare la propria presenza nei mercati chiave del Texas.
Amos McDonald è stato nominato Presidente di Mercato di Southside Bank per il North Houston, guidando il nuovo LPO nella fornitura di soluzioni di prestito personalizzate e servizi innovativi. Due Manager delle Relazioni si uniranno presto al team del North Houston. Curtis Burchard, Chief Lending Officer, ha espresso entusiasmo per l'espansione, evidenziando il potenziale impatto positivo sulla comunità e la crescita aziendale tramite soluzioni di prestito personalizzate.
Southside Bank, una subsidiaria de Southside Bancshares, Inc. (Nasdaq: SBSI), ha inaugurado una nueva Oficina de Producción de Préstamos (LPO) en The Woodlands, Texas, el 3 de septiembre de 2024. La LPO, ubicada en 9595 Six Pines Drive, se centrará en el sector Comercial e Industrial (C&I) y en empresarios del área del norte de Houston y sus alrededores. Esta expansión demuestra el compromiso de Southside con el fortalecimiento de su presencia en los mercados clave de Texas.
Amos McDonald ha sido nombrado Presidente de Mercado de Southside Bank para el Norte de Houston, liderando la nueva LPO en la entrega de soluciones de préstamo personalizadas y servicios innovadores. Se espera que dos Gerentes de Relaciones se unan pronto al equipo del Norte de Houston. Curtis Burchard, Director de Préstamos, expresó su entusiasmo por la expansión, destacando el potencial impacto positivo en la comunidad y el crecimiento empresarial a través de soluciones de préstamo personalizadas.
Southside Bank는 Southside Bancshares, Inc. (Nasdaq: SBSI)의 자회사로서, 2024년 9월 3일 텍사스의 The Woodlands에 새로운 대출 생산 사무소(LPO)를 개설했습니다. 9595 Six Pines Drive에 위치한 LPO는 북부 휴스턴 및 주변 지역의 상업 및 산업(C&I) 부문과 사업주에 중점을 둘 예정입니다. 이번 확장은 Texas의 주요 시장에서 Southside의 존재감을 강화하겠다는 의지를 보여줍니다.
Amos McDonald는 북부 휴스턴의 Southside Bank 시장 대통령으로 임명되어 새로운 LPO를 이끌며 맞춤형 대출 솔루션과 혁신적인 서비스를 제공할 예정입니다. 두 명의 관계 관리자도 곧 북부 휴스턴 팀에 합류할 것으로 예상됩니다. Curtis Burchard, 최고 대출 책임자는 확장에 대한 열정을 표현하며 맞춤형 대출 솔루션을 통한 긍정적인 지역사회 영향과 비즈니스 성장의 잠재력을 강조했습니다.
Southside Bank, une filiale de Southside Bancshares, Inc. (Nasdaq: SBSI), a ouvert un nouveau Bureau de Production de Prêts (LPO) à The Woodlands, au Texas, le 3 septembre 2024. Le LPO, situé au 9595 Six Pines Drive, se concentrera sur le secteur commercial et industriel (C&I) et sur les propriétaires d'entreprises dans la grande région du Nord de Houston et les zones environnantes. Cette expansion témoigne de l'engagement de Southside à renforcer sa présence sur les marchés clés du Texas.
Amos McDonald a été nommé Président du Marché de Southside Bank pour le Nord de Houston, dirigeant le nouveau LPO pour offrir des solutions de prêt personnalisées et des services innovants. Deux Responsables de Relation devraient bientôt rejoindre l'équipe du Nord de Houston. Curtis Burchard, Directeur des Prêts, a exprimé son enthousiasme pour cette expansion, soulignant le potentiel d'impact positif sur la communauté et de croissance des entreprises grâce à des solutions de prêt sur mesure.
Die Southside Bank, eine Tochtergesellschaft von Southside Bancshares, Inc. (Nasdaq: SBSI), hat am 3. September 2024 ein neues Kreditproduktionsbüro (LPO) in The Woodlands, Texas, eröffnet. Das LPO, das sich in der 9595 Six Pines Drive befindet, wird sich auf den kommerziellen und industriellen Sektor (C&I) sowie auf Geschäftsinhaber im nördlichen Houston und den umliegenden Gebieten konzentrieren. Diese Expansion zeigt das Engagement von Southside, seine Präsenz in wichtigen texanischen Märkten zu stärken.
Amos McDonald wurde zum Marktpräsidenten von Southside Bank für den Norden von Houston ernannt und leitet das neue LPO, um maßgeschneiderte Kreditlösungen und innovative Dienstleistungen anzubieten. Zwei Relationship Manager werden voraussichtlich bald zum Team Nord-Houston stoßen. Curtis Burchard, Chief Lending Officer, äußerte sich begeistert über die Expansion und betonte das Potenzial für positive Auswirkungen auf die Gemeinschaft und Geschäftswachstum durch maßgeschneiderte Kreditlösungen.
- Expansion into new market (The Woodlands/North Houston) potentially increasing revenue and market share
- Focus on Commercial & Industrial sector, targeting business owners in a growing area
- Appointment of experienced leader (Amos McDonald) as Market President for North Houston
- None.
Insights
The opening of Southside Bank's new Loan Production Office (LPO) in The Woodlands is a strategic move to tap into the lucrative North Houston market. However, its immediate impact on the company's financials is likely to be minimal. The focus on Commercial & Industrial (C&I) lending aligns with industry trends, as C&I loans typically offer higher yields and better risk diversification compared to real estate loans.
While this expansion demonstrates Southside's commitment to growth, investors should note that new LPOs often take time to become profitable. The success of this venture will largely depend on the team's ability to establish a strong presence in a competitive market. The appointment of Amos McDonald as Market President and the planned addition of two Relationship Managers suggest a measured approach to staffing, which could help control initial operational costs.
Overall, this move represents a long-term investment in Southside's growth strategy rather than an immediate catalyst for stock performance.
TYLER, Texas, Sept. 03, 2024 (GLOBE NEWSWIRE) -- Southside Bank, a subsidiary of Southside Bancshares, Inc. (Nasdaq: SBSI), has announced the opening of a new Loan Production Office (LPO) at 9595 Six Pines Drive, Bld 8, Level 2, Ste 8210 in The Woodlands. The Bank indicated their new LPO, opened on September 3, 2024, will specifically target the Commercial & Industrial (C&I) sector and business owners in greater North Houston and the surrounding areas. This expansion represents Southside’s continued commitment to providing exceptional financial solutions and strengthening their presence in key Texas markets.
Amos McDonald has been appointed as Southside Bank Market President for North Houston. Under Amos’s leadership, the Bank’s new LPO will deliver tailored lending solutions and innovative services to support the growth and success of local and state businesses. Two Relationship Managers are expected to join the North Houston team in the coming weeks.
Curtis Burchard, Chief Lending Officer, shared his enthusiasm about the pending expansion: “The opening of our new LPO in The Woodlands is a significant milestone for Southside Bank. We are excited to have Amos leading this initiative. His expertise and vision will empower our team to offer unmatched support to clients and local business owners in the greater North Houston area. We look forward to making a positive impact in the community and driving growth with our customized lending solutions.”
About Southside
Southside Bancshares, Inc., the holding company for Southside Bank, is headquartered in Tyler, Texas, with approximately
Forward-Looking Statements
Certain statements of other than historical fact that are contained in this press release and in other written materials, documents and oral statements issued by or on behalf of the Company may be considered to be “forward-looking statements” within the meaning of and subject to the safe harbor protections of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not guarantees of future performance, nor should they be relied upon as representing management’s views as of any subsequent date. These statements may include words such as “expect,” “estimate,” “project,” “anticipate,” “appear,” “believe,” “could,” “should,” “may,” “might,” “will,” “would,” “seek,” “intend,” “probability,” “risk,” “goal,” “target,” “objective,” “plans,” “potential,” and similar expressions. Forward-looking statements are statements with respect to the Company’s beliefs, plans, expectations, objectives, goals, anticipations, assumptions, estimates, intentions and future performance and are subject to significant known and unknown risks and uncertainties, which could cause the Company's actual results to differ materially from the results discussed in the forward-looking statements. For example, discussions of the effect of our expansion, benefits of the Share Repurchase Plan, trends in asset quality, capital, liquidity, the Company's ability to sell nonperforming assets, expense reductions, planned operational efficiencies and earnings from growth and certain market risk disclosures, including the impact of interest rates and our expectations regarding rate increases, tax reform, inflation, the impacts related to or resulting from other economic factors are based upon information presently available to management and are dependent on choices about key model characteristics and assumptions and are subject to various limitations. By their nature, certain of the market risk disclosures are only estimates and could be materially different from what actually occurs in the future. Accordingly, our results could materially differ from those that have been estimated. The most significant factor that could cause future results to differ materially from those anticipated by our forward-looking statements include the ongoing impact of higher inflation levels, prolonged elevated interest rates and general economic and recessionary concerns, all of which could impact economic growth and could cause a reduction in financial transactions and business activities, including decreased deposits and reduced loan originations, our ability to manage liquidity in a rapidly changing and unpredictable market, labor shortages and changes in interest rates by the Federal Reserve.
Additional information concerning the Company and its business, including additional factors that could materially affect the Company’s financial results, is included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, under “Part I - Item 1. Forward Looking Information” and “Part I - Item 1A. Risk Factors” and in the Company’s other filings with the Securities and Exchange Commission. The Company disclaims any obligation to update any factors or to announce publicly the result of revisions to any of the forward-looking statements included herein to reflect future events or developments.
Contact: Steven Campbell
Vice President, Director of Corporate Relations & Communications
Southside Bank
903.531.7158
steven.campbell@southside.com
FAQ
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