Info

The Southern Banc Company, Inc. serves as the holding company for The Southern Bank Company (the Bank). The Bank is an independent community-oriented savings institution. The Bank operates through four full-service banking offices located in Gadsden, Albertville, Guntersville and Centre, Alabama. The Bank considers its primary market area to consist of Etowah, Cherokee and Marshall counties in Northeast Alabama. The Bank's principal lending activity consists of the origination of loans secured by mortgages on existing one- to four-family residences and a variety of consumer loans in its market area. The Bank also makes limited amounts of non-residential real estate and commercial loans. Deposits are the primary source of the Bank's funds for lending and other investment purposes. In addition to deposits, the Bank derives funds from loan principal repayments, interest payments, maturing investments and Federal Home Loan Bank advances.(Source: 10KSB)