Southern Bancorp, Inc

Review, Rates and contact information

About

Three decades ago, some of rural America’s most underserved communities found an economic development ally in the formation of the Southern Development Bank Corporation, now known as Southern Bancorp. Visionaries such as Bill Clinton, Rob Walton, Mack McLarty, and the Winthrop Rockefeller Foundation spearheaded this initiative with an initial investment of around $10 million. The mission was clear: to create economic opportunity in distressed areas. Since its inception, Southern Bancorp, Inc., along with its development partners – Southern Bancorp Bank and Southern Bancorp Community Partners, has evolved into one of the largest community development organizations in the United States. It serves as a model for a broader industry of mission-focused financial institutions known as Community Development Financial Institutions (CDFIs). Today, Southern Bancorp is a $2.6 billion asset organization, touching the lives of over 65,000 customers through 56 branches primarily located in underserved markets in the Mid-South. Southern Bancorp’s dedication lies in expanding its impact and influence by delivering responsive, responsible, and innovative financial products to the unbanked and underbanked. The organization is not confined by physical market borders; it actively seeks strategic partnerships, exemplified by collaborations with the CDFI Fund and the Global Alliance for Banking on Values (GABV). Southern Bancorp continues to be a catalyst for positive change, leveraging its resources and partnerships to empower communities and foster economic growth.

4 contacts were found in LoanBase's database

Offered Loan Program Types

Property Types

Loan Amount

$250K - $15M

Time to close

30-60 days

Primary Areas Served

AR. MS

Max LTV

65%

Origination Fee

1.00%

Specialty

SFR

recently closed deals

Loan date

Loan Amount

Property Subtype

Address

ZIP

8/17/2023
$206,780
Residential
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Loan date

8/17/2023

Loan Amount

$206,780

Property Subtype

Residential

Address

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To view all recent closed deals with full address

8/15/2023
$108,640
Residential
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Loan date

8/15/2023

Loan Amount

$108,640

Property Subtype

Residential

Address

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8/14/2023
$149,870
Residential
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Loan date

8/14/2023

Loan Amount

$149,870

Property Subtype

Residential

Address

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8/14/2023
$670,500
Residential
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Loan date

8/14/2023

Loan Amount

$670,500

Property Subtype

Residential

Address

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8/10/2023
$200,000
Condominium
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Loan date

8/10/2023

Loan Amount

$200,000

Property Subtype

Condominium

Address

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8/8/2023
$208,000
Residential
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Loan date

8/8/2023

Loan Amount

$208,000

Property Subtype

Residential

Address

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8/8/2023
$546,500
Single Family Residence
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Loan date

8/8/2023

Loan Amount

$546,500

Property Subtype

Single Family Residence

Address

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8/4/2023
$247,350
Residential
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Loan date

8/4/2023

Loan Amount

$247,350

Property Subtype

Residential

Address

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8/3/2023
$190,000
Condominium
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Loan date

8/3/2023

Loan Amount

$190,000

Property Subtype

Condominium

Address

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8/3/2023
$440,300
Single Family Residence
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Loan date

8/3/2023

Loan Amount

$440,300

Property Subtype

Single Family Residence

Address

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8/1/2023
$193,907
Residential
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Loan date

8/1/2023

Loan Amount

$193,907

Property Subtype

Residential

Address

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8/1/2023
$560,000
Residential
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Loan date

8/1/2023

Loan Amount

$560,000

Property Subtype

Residential

Address

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7/26/2066
$675,043
Industrial
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Loan date

7/26/2066

Loan Amount

$675,043

Property Subtype

Industrial

Address

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