UPDATE: Southside Bancshares Increases Quarterly Cash Dividend by 5.9% to $0.18

The Board of Directors of Southside Bancshares, Inc., SBSI, parent company of Southside Bank approved a $0.01 or 5.9% increase in the quarterly cash dividend to $0.18. "The Board believes the increase is appropriate given Southside's financial performance," stated, B. G. Hartley, Chairman and Chief Executive Officer of Southside Bancshares, Inc. "We are especially pleased to be in a position to continue increasing the cash dividend throughout several economic cycles." In a separate action the Board of Directors declared a regular quarterly cash dividend of $0.18 per common share. The cash dividend is payable to common stock shareholders of record August 25, 2011. The cash dividend is scheduled for payment on September 8, 2011.