SouthPoint Bancshares, Inc.
SOUB
Other OTC14.20
USD
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SouthPoint Bancshares, Inc.
SOUB
(Other OTC)
Recent
price
14.20
P/E
ratio
- -
div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- SouthPoint Bancshares, Inc. (SOUB) operates as a bank holding company for SouthPoint Bank and its division, Merchants Bank of Alabama, providing a range of commercial and retail banking products and services primarily in central and northern Alabama. The company offers deposit products including checking accounts, savings accounts, money market accounts, individual retirement accounts and certificates of deposit; lending products such as commercial loans, residential mortgages, consumer loans, small business administration loans, home equity loans and government guaranteed loans; and additional services encompassing online banking, mobile banking, debit and credit cards, remote deposit capture, treasury management, private banking and home mortgage origination. SouthPoint Bank maintains 11 full-service branches in Birmingham, Liberty Park (Vestavia), Gardendale, Trussville, Wilsonville, Cullman, Arab and Hanceville, Alabama, complemented by six mortgage branches across the state. Founded in 2005 and headquartered in Birmingham, Alabama, the company targets individuals, small businesses and commercial clients in the regional banking sector. In late 2024, SouthPoint Bancshares completed a strategic merger with Merchants Financial Services, Inc., the parent of Merchants Bank of Alabama, substantially expanding its footprint northward along the I-65 corridor to include branches in Cullman, Hanceville and Arab, while growing total assets beyond $1.7 billion. This followed the initial merger of Merchants Bank of Alabama into SouthPoint Bank in January 2022 and recent branch expansions, including a new location in Homewood in March 2024. The company also strengthened its executive team with key appointments such as Frank Battle as EVP of Private Banking and Bill Logan as EVP and Chief Credit Officer.