The Southern Banc Company Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2018
February 04, 2019 at 02:10 pm EST
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The Southern Banc Company Inc. reported unaudited consolidated earnings results for the second quarter and six months ended December 31, 2018. For the quarter, the company's total interest income was $1,403,000 compared to $1,276,000 a year ago. Net income was $133,000 compared to loss of $560,000 a year ago. Basic and diluted earnings per share was $0.17 compared to loss per share of $0.73 a year ago.
For the six months, the company's total interest income was $2,784,000 compared to $2,607,000 a year ago. Net income was $259,000 compared to loss of $737,000 a year ago. Basic and diluted earnings per share was $0.34 compared to loss per share of $0.96 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. 