Southern Bancorp

FDIC-Insured ∙ 50% of Bank Holding Co. Board is Black · Certified B-Corp

As seen in

Features

Convenience

  • FDIC-Insured
  • Multimillion Dollar Deposit Insurance
  • Online account opening
  • Online and mobile banking
  • Mobile deposits
  • Bill pay
  • Surcharge-free ATMs
  • Financial education, credit counseling, and free tax prep

Products

  • Checking and savings accounts
  • Certificates of Deposit (CDs)
  • Money Market accounts
  • Retirement accounts
  • Mortgage loans
  • Small business loans
  • Other financing
Refer to the bank to confirm the most up-to-date services available.

Southern’s impact

We’re a unique financial institution that was founded to help strengthen underserved communities through financial access and investment.

Southern is a certified B Corp focused on fueling homeownership, entrepreneurship, and savings in marginalized communities

What do these mean? Read more

  • Sustainable (B-Corp or GABV): Bank is a certified B-Corporation (Arkansas’s first) and a member of the Global Alliance for Banking on Values, which means it is accountable for providing sustainable banking and reporting on these practices. It is also is a Benefit Corporation.

  • Investing in low-income communities (CDFI): Bank is a certified Community Development Financial Institution (CDFI), meaning it is focused on directing the majority of its financing into low- and moderate-income communities and/or communities of color.

  • Above avg. in small business lending: Bank puts a larger percentage of money into small business loans than the bank industry average.

  • Above avg. in housing lending: Bank puts a larger percentage of money into housing loans than the bank industry average.

  • Above avg. in small farm lending: Bank puts a larger percentage of money into small farm loans than the bank industry average.

  • Above avg. in investing in public works: Bank puts a larger percentage of money into loans and securities for municipal use (i.e. financing for schools, roads, parks) than the bank industry average.

  • Above avg. in financing communities, overall: Bank puts a larger percentage of money into community financing (loans for business, farms, housing, construction, and households, and public works financing) than the bank industry average.

These metrics are validated with public data. To learn how, see our FAQ.

100% of money with the bank is based in the Delta region

Deposits come from across the U.S.

 

This is an estimation of where the bank concentrates its community financing. It is approximated by where the bank has branches, and the relative amount of deposits the bank manages from each branch. Bank regulation encourages banks to meet the credit needs of communities in which they do business. Southern Bancorp accepts deposits from all across the U.S. in order to power its lending in the Delta’s areas of need.

Southern has a history of investing 72% - 79% of total dollars in the bank into communities, which is greater than the bank industry average

Percentage of total dollars in the bank lent to communities and invested in public works, over time

 
How exactly is money invested? Read more
When you bank with Southern, more of your money is used to make loans for farms, business, construction, and housing than average. Here's the share of total dollars in the bank invested in each sector:

  • Large Farms: 9% (+1786% vs industry avg)
  • Small Farms: 3% (+1099% vs industry avg)
  • Small Business: 10% (+273% vs industry avg)
  • Construction: 6% (+229% vs industry avg)
  • Public Works: 14% (+433% vs industry avg)
  • Housing: 18% (+40% vs industry avg)

    • The bank also finances other sectors, including:

  • Large Business: 12%
  • Households: 2%

    • The other 26% of total dollars in the bank is used for something other than community financing (like investments in bank branches and other financing).

    Read more about this data in our FAQ.
     
     
     

    People banking here

    Client stories

    Southern Gallery

    “They gave me the chance to give something better to my kids.”

    “We have been with Southern for 24 years and I cannot say enough good stuff about them.”

    “Southern Bancorp will give you hope when there is none.”

    “If I hadn’t gone through the program, I’d still be struggling from paycheck to paycheck.”

    “I decided I wanted to reinvest back in Clarksdale.”

    “With additional working capital, you can expand your business.”

    Do you have experience working with accounts or loans at this bank? Share your testimonial

    See what your money can do here*

    *This is an estimate, modeled according to the most recent data on Mighty. Learn more how this is calculated in our FAQ.

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    Get started with Southern

    Currently accepting online savings and checking applications from across the U.S.

     
     

    To see the bank’s locations, click here.

     
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