| Business Summary | | The
Southern
Banc
Company,
Inc.
is
the
holding
company
for
The
Southern
Bank
Company.
The
Bank
is
an
independent
community-oriented
savings
institution
dedicated
to
providing
quality
customer
service.
The
Bank
is
primarily
engaged
in
the
business
of
obtaining
funds
in
the
form
of
various
savings
deposit
products
and
investing
those
funds
in
mortgage
loans
or
single
family
real
estate
and,
to
a
lesser
extent,
in
consumer
loans.
The
Bank
currently
operates
through
four
full-service
banking
offices
located
in
Gadsden,
Albertville,
Guntersville
and
Centre,
Alabama.
At
June
30,
2000,
the
Company
had
total
consolidated
assets
of
$98.1
million,
deposits
of
$81.4
million,
net
loans
receivable
of
$39.8
million,
and
stockholders'
equity
of
$16.3
million. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | The
Southern
Banc
Company,
Inc.
is
a
holding
company
for
the
Southern
Bank
Company.
For
the
nine
months
ended
3/31/01,
total
interest
income
fell
1%
to
$5.2
million.
Net
interest
income
after
loan
loss
provision
fell
15%
to
$1.8
million.
Net
income
fell
34%
to
$298
thousand.
Net
interest
income
reflects
a
reduction
in
the
earnings
rate
of
FHLB
overnight
funds,
and
higher
interest
expense
on
CDs.
Earnings
also
suffered
from
increases
in
other
operating
expenses. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| James Little, Jr., 70 Chairman
and Pres and CEO | $150K | Gates Little, 30 Exec.
VP | -- | Dollar amounts are as of 30-June-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|