Southside Bancshares Inc.
09/18/2025 | Press release | Distributed by Public on 09/18/2025 14:56
Management Change/Compensation (Form 8-K)
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On September 18, 2025, Lee R. Gibson, Chief Executive Officer ("CEO") of Southside Bancshares, Inc. (the "Company") and Southside Bank (the "Bank"), a subsidiary of the Company, and director of the Company and the Bank, notified the Company of his decision to retire as CEO, effective December 31, 2025. Mr. Gibson will continue as a member of the Board of Directors of the Company and the Bank. Following his retirement, Mr. Gibson will receive director compensation consistent with other non-employee directors. Mr. Gibson did not previously receive any separate compensation for serving on the Board during his tenure as an executive with the Company.
The Board of Directors of the Bank and the Company on September 18, 2025, approved the appointment of Keith Donahoe, the Company's and Bank's current President, to Chief Executive Officer and President of the Company and the Bank on the effective date of the retirement of Mr. Gibson.
Mr. Donahoe, 55, has over 30 years of experience in the banking industry. Mr. Donahoe has served as President of the Company and Southside since May 2024, overseeing various company-wide functions including credit and commercial lending activities, as well as information technology and bank operations. Upon joining Southside Bank in 2021, he first served as Austin Market President and later as Central Texas Regional President. Prior to joining Southside, he was with Frost Bank, a regional bank in Texas for 26 years, of which he served the last 10 years as an Executive Vice President.
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