Dedicated to Deposits: Deals, Data, and Discussion
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Health

Data for Q1 2014

Institution Health

A+

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Southern Bank had $4.98 million in non-current loans and owned real-estate with $113.91 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 5.69% as of March 31, 2013 to 4.37% as of March 31, 2014, resulting in a positive change of 23.26%.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 $151.45 million, resulting in 23.4% 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 $986.8 million in assets with $113.91 million in equity, resulting in a capitalization level of 11.54%, which is excellent.

Institution Statistics

Overall
FDIC Certificate #28332
Year Established1887
Employees213
Primary RegulatorFED
Assets and Liabilities
Assets$986.80 million
Loans$764.69 million
Deposits$798.65 million
Equity Capital$105.22 million
Loan Loss Allowance$8.69 million
Unbacked Noncurrent Loans$2.01 million
Real Estate Owned$2.97 million
Historic Data - March 2013
Assets$786.71 million
Equity Capital$84.82 million
Loan Loss Allowance$8.11 million
Unbacked Noncurrent Loans$2.01 million
Real Estate Owned$3.45 million
Profit Margin - Quarterly
Net Interest Margin3.87%
Return on Assets1.03%
Return on Equity9.79%
Interest Income$10.31 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 - Qualifying
3.01%-$15kKasasa Giving - Qualifying
1.01%-$10kPremium 50 Plus Checking
0.10%--Kasasa Cash - Non Qualifying
0.10%--Kasasa Giving - Non Qualifying

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
1.15%$500-48 Month IRA
0.80%$500-36 Month IRA
0.75%$500-24 Month IRA
0.50%$500-12 Month IRA
0.50%$500-18 Month IRA
0.40%$500-6 Month IRA
0.35%$500-91 Day IRA
Locations

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