Southern BancShares (N.C.), Inc. announced that it has completed the private placement of $80 million of 3.125% Fixed-to-Floating Rate Subordinated Notes due 2031 (the "Notes") to qualified institutional buyers and accredited investors. Until June 30, 2026, the Notes will bear interest at a fixed annual rate of 3.125%, payable semi-annually in arrears. Thereafter, the Notes will bear interest at a floating rate equal to the three-month term SOFR plus 241 basis points, payable quarterly in arrears. The Notes are structured to qualify as Tier 2 capital for regulatory purposes. The Company intends to use the net proceeds of the offering for general corporate purposes. The Company may redeem the Notes in whole or in part, beginning on June 30, 2026, at a redemption price equal to 100% of the principal amount of the Notes redeemed, plus accrued and unpaid interest. Note holders have no redemption rights.