Southern BancShares (N.C.), Inc.
SBNC
Other OTC12,400.01
USD
+0.01
- -
CIK
0000703904
ISIN
US8422431077
CUSIP
842243107
Return %
Stock
S&P500
1Y
41.73
19.01
3Y
129.63
65.48
5Y
143.14
72.20
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Drew Covert
- Full Time Employees
- 423
- Sector
- Financial Services
- Industry
- Banks - Regional
- Address
- 116 East Main Street Mount Olive NC United States of America 28365
- IPO Date
- Jun 30, 2016
- CIK
- 0000703904
- Website
- southernbank.com
- Similar Companies
- Business
- Southern BancShares (N.C.), Inc. (OTC Pink: SBNC) operates as the bank holding company for Southern Bank and Trust Company, which provides a range of retail and commercial banking services to consumers, businesses, and governmental units primarily in eastern North Carolina and southeastern Virginia. Southern Bank and Trust Company maintains 57 branches and one loan production office across these regions, offering deposit products including checking accounts, savings accounts, money market accounts, demand deposits, time deposits, individual retirement accounts (IRAs), and certificates of deposit (CDs); lending products such as commercial loans (including construction and land development, agricultural, industrial, commercial mortgages, paycheck protection program, and other loans), non-commercial loans (consumer, residential mortgage, revolving mortgage, demand overdrafts), business loans, one-to-four-family mortgages, equity line loans, and lease financing; and other services comprising debit and credit cards, safe deposit boxes, cashier's checks, money orders, check cashing, wire transfers, internet banking, investment services (brokerage custodial, insurance, and other management services), and real estate owned property management. The company, founded in 1901 and headquartered in Mount Olive, North Carolina, primarily funds its loan originations through customer deposits and reported consolidated assets of $5.4 billion as of December 31, 2024. In January 2025, the Board of Directors approved a new common stock repurchase program effective April 1, 2025, authorizing the buyback of up to 4,000 shares of common stock and preferred stock through open market and privately negotiated transactions, not to exceed 3% of consolidated net worth over any consecutive twelve-month period; this follows the prior program (April 1, 2024, to March 31, 2025), which repurchased 796 common shares for $5.6 million and 3,600 series B preferred shares for $45,000. The company continues its longstanding practice of such repurchase programs to provide shareholder liquidity and manage excess capital, with decisions based on market conditions, stock price, and financial performance.