Dedicated to Deposits: Deals, Data, and Discussion
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Health

Data for Q4 2013

Institution Health

A+

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 Southern Bank had $4.64 million in non-current loans and owned real-estate with $106.12 million in equity and loan loss allowances on hand to cover it. This gives Southern Bank a Texas Ratio of 4.37% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
B+

The Texas Ratio for Southern Bank decreased slightly from 6.22% as of December 31, 2012 to 4.37% as of December 31, 2013, resulting in a positive change of 29.75%.This indicates that the balance sheet and financial strength for Southern Bank has improved slightly in recent periods.

Deposit Growth

GRADE:
A+

In the past year, Southern Bank has increased its total deposits by $116.45 million, resulting in 18.72% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Southern Bank has shown is excellent.

Capitalization

GRADE:
A

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Southern Bank has $941 million in assets with $106.12 million in equity, resulting in a capitalization level of 11.28%, which is excellent.

Institution Statistics

Overall
FDIC Certificate #28332
Year Established1887
Employees198
Primary RegulatorFED
Assets and Liabilities
Assets$941.00 million
Loans$742.34 million
Deposits$738.54 million
Equity Capital$97.04 million
Loan Loss Allowance$9.09 million
Unbacked Noncurrent Loans$1.63 million
Real Estate Owned$3.00 million
Historic Data - December 2012
Assets$763.55 million
Equity Capital$83.24 million
Loan Loss Allowance$7.92 million
Unbacked Noncurrent Loans$1.63 million
Real Estate Owned$3.46 million
Profit Margin - Quarterly
Net Interest Margin3.98%
Return on Assets1.27%
Return on Equity11.94%
Interest Income$37.07 million
Rates

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Southern Bank Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.25%--Savings Account

Southern Bank Money Market Rates

DetailsAPYMINMAXPRODUCT
0.50%$200k-Money Market Passbook Account
0.25%$10k-MMDA Platinum

Southern Bank Checking Account Rates

DetailsAPYMINMAXPRODUCT
3.01%-$15kKasasa Cash
3.01%-$15kKasasa Giving
1.01%-$10kPremium 50 Plus Checking
0.10%--Kasasa Cash
0.10%--Kasasa Giving

Southern Bank CD Rates

DetailsAPYMINMAXPRODUCT
1.40%$500-60 Month CD
1.15%$500-48 Month CD
0.80%$500-36 Month CD
0.75%$500-24 Month CD
0.50%$500-12 Month CD
0.50%$500-18 Month CD
0.40%$500-6 Month CD
0.35%$500-91 Day CD

Southern Bank IRA Rates

DetailsAPYMINMAXPRODUCT
1.40%$500-60 Month IRA (Traditional,Roth)
1.15%$500-48 Month IRA (Traditional,Roth)
0.80%$500-36 Month IRA (Traditional,Roth)
0.75%$500-24 Month IRA (Traditional,Roth)
0.50%$500-12 Month IRA (Traditional,Roth)
0.50%$500-18 Month IRA (Traditional,Roth)
0.40%$500-6 Month IRA (Traditional,Roth)
0.35%$500-91 Day IRA (Traditional,Roth)
Locations

Southern Bank has 19 locations. Click to view all Southern Bank locations.