2 star ratingAverage User Rating:
2 star rating based on 2 reviews.

Southern Community Bank & Trust

Southern Community Bank & Trust Locations
P.O. Box 26134
Winston-Salem, NC 27114
(888) 768-2666
www.smallenoughtocare.com



Southern Community Bank & Trust is headquartered in Winston Salem and is the 13st largest bank in the state of North Carolina. It is also the 428th largest bank in the nation. It was established in 1996 and as of September of 2011, it had grown to 289 employees at 22 locations. Southern Community Bank & Trust's savings rates are 44% higher than the national average, but it has a 2-star health rating.

Southern Community Bank & Trust Routing Number: 053112097

Related Posts

Southern Community Bank & Trust Cuts Reward Checking Rate From 2.25% To 1.15% (Forum) - 2/2/2011

Just one month after the last big rate cut, they did another one. This time the top reward checking yield has fallen from 2.25% to 1.15% APY. The balance cap remains at $25K. This is called the Maximum Earnings Banking account, and this rate is shown on t

Ready Saver Account Rate Plummets To 0.90% (Forum) - 1/12/2011

Ready Saver, the internet bank from Southern Community Bank & Trust, slashed its savings account yield from 1.35% to 0.90% APY. This applies to all balances.

Southern Community Bank & Trust Cuts RCA Rate From 3.0% To 2.25%, Keeps $25K Cap (Forum) - 1/3/2011

Ken reported in his Jan. 2 weekly summary that Southern Community Bank and Trust has cut their interest rate on their ME  Banking RCA account from 3.0% to 2.25%. The new rate shows on the bank's web site as being effective Jan. 1, 2011. The other fea

Special No-Penalty CD at Southern Community Bank & Trust in NC - Available Nationwide - 12/29/2010

Southern Community Bank & Trust is offering a special 18-month CD called the Easy Access CD. It has a competitive yield of 1.50% APY with a minimum deposit of $500. It's called Easy Access because ...

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See Rates for: Checking | Savings | Money Market | CD | IRA

Southern Community Bank & Trust Checking Account Rates

ApyMinMaxProduct
0.80%-$25kME Banking
0.10%$1k-Performance Plus Checking
0.10%--Community 50 Checking

Southern Community Bank & Trust Savings Account Rates

ApyMinMaxProduct
0.80%$25k-IRA Savings
0.80%$25k-Roth IRA Savings
0.75%--Ready Saver Account
0.10%--Classic Savings
0.10%--Minor Savings
0.10%$500-Holiday Savings

Southern Community Bank & Trust Money Market Rates

ApyMinMaxProduct
0.40%$50k-Preferred Money Market

Southern Community Bank & Trust CD Rates

ApyMinMaxProduct
0.80%$50k-5 Year CD
0.60%$50k-2 Year CD
0.55%$50k-18 Month CD
0.40%$50k-6 Month CD
0.40%$50k-12 Month CD
0.30%$50k-3 Month CD

Southern Community Bank & Trust IRA Rates

ApyMinMaxProduct
0.80%$50k-5 Year IRA
0.80%$50k-5 Year Roth IRA
0.60%$50k-2 Year IRA
0.60%$50k-2 Year Roth IRA
0.55%$50k-18 Month IRA
0.55%$50k-18 Month Roth IRA
0.40%$50k-6 Month IRA
0.40%$50k-12 Month IRA
0.40%$50k-6 Month Roth IRA
0.40%$50k-12 Month Roth IRA
0.30%$50k-3 Month IRA
0.30%$50k-3 Month Roth IRA

Rates updated: 2/9/2012

Data for Q3 2011


Institution Statistics


Southern Community Bank and Trust
FDIC Certificate #34321
BankRate ReportView
Year Established1996
Employees289
Primary RegulatorFDIC

Assets and Liabilities

Assets$1.54 billion
Loans$965.87 million
Deposits$1.23 billion
Equity Capital$138.44 million
Loan Loss Allowance$26.41 million
Unbacked Noncurrent Loans$72.46 million
Real Estate Owned$19.11 million

Historic Data - September 2010

Assets$1.66 billion
Equity Capital$145.90 million
Loan Loss Allowance$35.10 million
Unbacked Noncurrent Loans$92.10 million
Real Estate Owned$19.32 million

Profit Margin - Quarterly

Net Interest Margin3.69%
Return on Assets0.35%
Return on Equity4.12%
Interest Income$54.06 million

Institution Health


Overall Score:
2 out of 5
2
Texas Ratio2
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 September 30, 2011 Southern Community Bank & Trust had $91.57 million in non-current loans and owned real-estate with $164.85 million in equity and loan loss allowances on hand to cover it. This gives Southern Community Bank & Trust a Texas Ratio of 55.55% which is below average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend3
The Texas Ratio for Southern Community Bank & Trust held steady from 61.56% as of September 30, 2010 to 55.55% as of September 30, 2011, resulting in a positive change of 9.76%.This indicates that the balance sheet and financial strength for Southern Community Bank & Trust has held steady in recent periods.
Deposit Growth1
In the past year, Southern Community Bank & Trust has decreased its total deposits by -$87.25 million, resulting in -6.6% 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 Community Bank & Trust has shown is poor.
Capitalization4
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 Community Bank & Trust has $1.54 billion in assets with $164.85 million in equity, resulting in a capitalization level of 10.68%, which is above average.
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ReadySaver - Southern Community Bank & Trust
2 stars - tommytwotooth - Wednesday, June 16, 2010 - 10:33 AM

While it boasts one of the highest savings rates of any online bank, the web interface is sub-par. 

Web-inerface:

My first impression of the website was that it was extremely slow and nonintuitive.  It's an odd mix of flash overlayed on a primitive non-flash webpage.  If all you want to do is log in and see your account balance, then their website is fine.  However, having been somewhat of a connoisseur of several online banks (e.g. ing, capital one, emigrant, etc) I've come to expect some minimum features that I believe all online websites should have.

For example, there isn't a way to set any e-mail alerts whatsover.  I find that particularly annoying because it requires me to log in to confirm when/whether a particular transferred was successful; or to simply be alerted of any unanticipated account activity.

Setting up the ability for ACH transfers was also a hassle because they require a separate authorization form to be approved by an actual customer service representative.  That's before you've even set-up any ACH links to the other banking institutions.  It took almost 2 weeks to link up my accounts.

Customer Service:

They have live chat during business hours (9-5), which is a nice but necessary feature given that you can't seem to accomplish much with their website alone.  When I opened an account, someone at the bank actually sent me a e-mail attached with a pdf document confirming that I had opened an account.  Personal, but weird in this day and age.

Overall:

Overall, I find it strange that so many things seem unautomated given that it's an 'online' bank.  For me, that gives the uneasy feeling that there is a higher risk of human error than most other online banks.  There is also no ability to set-up any e-mail/text alerts for account activities.  So, if you can remember to log-in to your account every week to make sure things are okay, then the high interest rate their paying is worth it (for the time being).

7

New Interest Rate Is 2.25% As Of 1-1-11
2 stars - jackstilton - Saturday, January 1, 2011 - 9:18 AM

Another one bites the dust.

http://www.smallenoughtocare.com/other.aspx?show=rates

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