Southside Bancshares Faces Listing Rule Concerns

TL;DR

Southside Bancshares might be in trouble with listing rules - could get delisted!

AI Summary

Southside Bancshares, Inc. filed an 8-K on November 4, 2024, to report a notice of delisting or failure to satisfy a continued listing rule or standard, a Regulation FD disclosure, and financial statements and exhibits. The filing indicates potential issues with the company's continued listing on a stock exchange.

Why It Matters

This filing signals potential regulatory or financial challenges that could impact the company's stock trading status and investor confidence.

Risk Assessment

Risk Level: high — A notice of delisting or failure to meet listing standards indicates significant potential risk to the company's public trading status.

Key Players & Entities

• Southside Bancshares, Inc. (company) — Registrant
• SOBANK INC (company) — Former company name
• 1201 S. Beckham Avenue, Tyler, TX 75701 (location) — Principal Executive Offices
• November 4, 2024 (date) — Date of Report

FAQ

Key Financial Figures

• $1.25 — ange on which registered Common stock, $1.25 par value SBSI NASDAQ Global Select Mar

Filing Documents

• sbsi-20241104.htm (8-K) — 33KB
• exhibit991nysepr.htm (EX-99.1) — 6KB
• 0000705432-24-000233.txt ( ) — 163KB
• sbsi-20241104.xsd (EX-101.SCH) — 2KB
• sbsi-20241104_lab.xml (EX-101.LAB) — 21KB
• sbsi-20241104_pre.xml (EX-101.PRE) — 12KB
• sbsi-20241104_htm.xml (XML) — 3KB

01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing On November 4, 2024, Southside Bancshares, Inc. (the " Company "), acting pursuant to authorization from its Board of Directors, provided written notice to the Nasdaq Stock Market LLC (" Nasdaq ") of its determination to voluntarily withdraw the principal listing of the Company's voting common stock, $1.25 par value per share (the " Common Stock "), from Nasdaq and transfer the listing to the New York Stock Exchange (" NYSE "). The Company expects that listing and trading of its Common Stock on Nasdaq will end at market close on November 14, 2024, and that trading will commence on the NYSE at market open on November 15, 2024. The Common Stock has been authorized for listing on NYSE, where it will trade under the existing ticker symbol of "SBSI".

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure On November 4, 2024, the Company issued a press release announcing the anticipated transfer of the principal listing of the Common Stock to the NYSE, a copy of which is attached as Exhibit 99.1 to this Form 8-K and is incorporated herein by reference. As provided in General Instruction B.2 to Form 8-K, the information furnished in this Item 7.01 and in Exhibit 99.1 to this Current Report on Form 8-K shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the " Exchange Act "), or otherwise subject to the limitations of that section, and such information shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

01. Regulation FD Disclosure

Item 9.01. Regulation FD Disclosure (D) Exhibits. The following materials are furnished as exhibits to this Current Report on Form 8-K: Exhibit Number Description of Exhibit 99.1 Press release dated November 4, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Southside Bancshares, Inc. Date: November 4, 2024 By: /s/ Lee R. Gibson Lee R. Gibson Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR