Southern States Bank

Southern States Bank is headquartered in Anniston and is the 49^th largest bank in the state of Alabama. It is also the 2,952^nd largest bank in the nation. It was established in 2007 and as of December of 2011, it had grown to 46 employees at 3 locations. Southern States Bank has a 5-star health rating.

Southern States Bank Routing Number: 062206622

Data for Q4 2011

Institution Statistics Southern States Bank FDIC Certificate # 58558 BankRate Report View Year Established 2007 Employees 46 Primary Regulator FDIC Assets and Liabilities Assets $212.68 million Loans $171.06 million Deposits $175.57 million Equity Capital $36.53 million Loan Loss Allowance $2.56 million Real Estate Owned $918,000 Historic Data - December 2010 Assets $191.45 million Equity Capital $28.60 million Loan Loss Allowance $2.24 million Unbacked Noncurrent Loans $2.44 million Profit Margin - Quarterly Net Interest Margin 4.3% Return on Assets 0.45% Return on Equity 2.82% Interest Income $10.28 million

Institution Health Overall Score: 5 out of 5 Texas Ratio 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, 2011 Southern States Bank had $918,000 in non-current loans and owned real-estate with $39.09 million in equity and loan loss allowances on hand to cover it. This gives Southern States Bank a Texas Ratio of 2.35% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk. Texas Ratio Trend The Texas Ratio for Southern States Bank decreased significantly from 7.92% as of December 31, 2010 to 2.35% as of December 31, 2011, resulting in a positive change of 70.35%.This indicates that the balance sheet and financial strength for Southern States Bank has improved significantly in recent periods. Deposit Growth In the past year, Southern States Bank has increased its total deposits by $14.74 million, resulting in 9.17% 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 States Bank has shown is excellent. Capitalization 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 States Bank has $212.68 million in assets with $39.09 million in equity, resulting in a capitalization level of 18.38%, which is excellent.

No reviews have been left for this bank yet. Be the first to review.