Nvidia and TSMC to unveil first domestic wafer for Blackwell chips, Axios reports
Southside Bancshares, Inc. (NYSE:SBSI), a $927 million market cap regional bank with a solid dividend track record spanning 28 consecutive years, reported Thursday that Chief Executive Officer Lee R. Gibson has informed the company of his decision to retire as CEO, effective December 31, 2025. According to InvestingPro data, the bank maintains a Fair Value above its current trading price, suggesting potential upside. Gibson will remain on the Board of Directors of both Southside Bancshares and its subsidiary, Southside Bank, and will receive compensation consistent with other non-employee directors. During his tenure as an executive, Gibson did not receive separate compensation for his board service. Under his leadership, the bank has maintained a healthy 4.66% dividend yield and achieved a P/E ratio of 11x.
The Board of Directors approved the appointment of Keith Donahoe, currently President of Southside Bancshares and Southside Bank, as the next Chief Executive Officer and President, effective upon Gibson’s retirement at year-end.
Donahoe, 55, has more than 30 years of experience in the banking industry. Since joining Southside Bank in 2021, he has served as Austin Market President, Central Texas Regional President, and, since May 2024, as President of the company and the bank. His responsibilities have included oversight of credit and commercial lending, information technology, and bank operations. Prior to his tenure at Southside, Donahoe worked at Frost Bank, a Texas-based regional bank, for 26 years, including 10 years as Executive Vice President. For deeper insights into how leadership transitions impact bank valuations, explore the comprehensive analysis available on InvestingPro, which offers exclusive financial metrics and expert research reports.
The information in this article is based on a statement from a press release included in a filing with the Securities and Exchange Commission.
In other recent news, Southside Bancshares reported its second-quarter 2025 earnings, exceeding Wall Street expectations. The company achieved an earnings per share (EPS) of $0.72, surpassing the forecast of $0.68, which represents a 5.88% surprise. Revenue also outperformed projections, totaling $68.84 million compared to the anticipated $68.08 million. Additionally, Southside Bancshares declared a regular quarterly cash dividend of $0.36 per common share, to be paid on September 4, 2025, to shareholders of record as of August 21, 2025. In corporate developments, Chief Operating Officer Brian K. McCabe announced his retirement effective November 14, 2025, after serving in various roles since 1983. Mitchell Craddock is expected to succeed him. These recent developments highlight the company’s performance and leadership transitions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.