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ARLINGTON, Texas — Southside Financial Group, an active
purchaser of auto finance receivables, announced on Monday it is changing its
name to its most commonly used moniker.

Effective immediately, the company is now to be called SFG
Finance.

SFG Finance recently launched a new nationwide program to
purchase existing near prime and subprime auto loan portfolios from franchised
and independent dealers. Officials indicated the program includes near prime
and subprime portfolios ranging from $500,000 to $40 million, service released.

"All portfolios are held on the balance sheet and serviced
internally," the company stated.

"The program is highly efficient with a seven- to 10-day total
turnaround from analysis to closing, and will target accounts with 60-90 day
pay history," the company went on to note, adding that since the inception of
this program, SFG Finance has actively purchased and closed portfolios from
dealers in 30 states.

The company also mentioned funding has been made possible by
SFG's parent bank.

"With the added advantage of no need to securitize plus a
more stable cost of funds, SFG Finance offers complete transparency and up-front
pricing based its superior analytics," officials insisted.

"A due diligence team will evaluate all loans to maximize
return without interrupting the dealership's existing business, ensuring a
seamless transition," they added.

Beyond the new program, SFG Finance chief operating officer
Henry Gonzalez elaborated about why the company changed its name.

"Since the founding of Southside Financial Group, the
majority of our customers, vendors, and employees have informally referred to
us as simply SFG Finance and frankly, we like it," Gonzalez shared.

"Therefore, we have decided to formally change our name to
reflect what the public has already thoughtfully given us. Effective
immediately, Southside Financial Group has changed its name to SFG Finance," he
continued.

"The ownership and management of our company remain the same
as does our commitment of excellence to everyone we do business with. We would
like to thank everyone for the valued services that you have provided to us
over the past several years and look forward to many more to come," Gonzalez
concluded.