The Southern Banc Company, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended March 31, 2019
May 02, 2019 at 06:12 pm
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The Southern Banc Company, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended March 31, 2019. For the quarter, net interest income was approximately $1.1 million as compared to approximately $1.0 million for the quarter ended March 31, 2018. Net income was $110,000 against $112,000 a year ago. Basic EPS was $0.14 against $0.15 a year ago.
For the nine months, net interest income increased approximately $220,000 or 6.7%. Net income was $370,000 against loss of $616,000 a year ago. Basic EPS was $0.48 against loss of $0.80 a year ago.
The Southern Banc Company, Inc. is a holding company for The Southern Bank Company (the Bank). The Bank is primarily engaged in the business of obtaining funds in the form of various deposit products and investing those funds in mortgage loans or single-family real estate, commercial and consumer loans. The Bank operates from its four offices in the northeast portion of Alabama and originates the majority of its loans in this market area. The Bank also operates a division that conducts accounts receivable management (factoring) of commercial accounts. The Bank offers a range of accounts and services, including checking accounts, home mortgages, home equity loans, auto loans and personal loans. The Bank works with small and medium-sized business customers to offer practical solutions for deposit and borrowing needs. Its business banking services include real estate lending, equipment financing, cash flow management and business checking.
THE SOUTHERN BANC COMPANY, INC. 