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Kroll affirms ratings for Texas-based Southside Bancshares, unit

Kroll Bond Rating Agency affirmed the BBB+ senior unsecured debt rating, BBB subordinated debt rating and K2 short-term debt rating for Tyler, Texas-based Southside Bancshares Inc.

Kroll also affirmed the deposit and senior unsecured debt ratings of A-, subordinated debt rating of BBB+, and short-term deposit and debt ratings of K2 for the company's unit, Southside Bank.

The outlook for all long-term ratings is stable.

In affirming the ratings, Kroll noted Southside Bancshares' steady earnings and strong risk-adjusted returns, among other things.