Southern Bank is headquartered in Poplar Bluff and is the 10th largest bank in the state of Missouri. It is also the 390th largest bank in the nation. It was established in 1887 and as of December of 2018, it had grown to 455 employees at 54 locations. Southern Bank's money market rates are 3X the national average, and it has a B+ health rating.
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10/2 - King of RCAs: Southern Bank Rate is STILL at (5.01%, $15K)
4/3 - Southern Bank Reduced Its Limit "Quietly"...
Great Bank
I've been a customer for a few years now and they are great place to bank at. I have accounts at least three different banks and they are the best.
Best Interest rate for checking account!
My experience with Southern Bank has been good. I setup my account with them all online and was relatively easy. They have a smooth mobile app that allows you to access your account anytime you want to. You can deposit checks using the app for easy convenience. The reason I picked this bank was because of their killer interest rate on checking accounts. Currently it's at 3% on up to $15,000. The only catch is you have to do some sort of direct deposit, 12 debit card transactions, and sign-up for paperless statements. It's easy to find 12 things a month to use my debit card on. If you meet all the requirements then they will reimburse you on ATM fees from other banks.
Worst Bank Ever
This is the worst bank I have had the displeasure of dealing with. If you are a person that has a low income and live penny to penny, don't deal with them. Never do overdraft either. They "rearrange" things in your account so they can get the maximum overdraft charges. Bank of America was sued for this. They will lock your account even when it has money in it and tell you it's a "safety feature" and not let you access your money. You can complain and they will take messages and nobody will respond. I filed a better business bureau complaint and nobody responded. Shady bank with shady practices!
Stiffing The Appraiser
As an appraiser, I've yet to receive payment for an appraisal I did in January 2016. I don't expect payment because I didn't "bring home the bacon" on their deal apparently. So much for the Appraisal Independence Requirement of Dodd-Frank.
Need I remind the appraiser's job is not to rubber stamp the value? It is to provide an independent opinion of value.
Data as of Q4 2018
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 28332 |
| Year Established | 1887 |
| Employees | 455 |
| Primary Regulator | FED |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.37% |
| Return on Equity - YTD | 13.26% |
| Annual Interest Income | $85.5MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2018vs Q4 2017 | $2.20B$1.77B |
| Loans | Q4 2018vs Q4 2017 | $1.80B$1.45B |
| Deposits | Q4 2018vs Q4 2017 | $1.81B$1.52B |
| Equity Capital | Q4 2018vs Q4 2017 | $220.1MM$179.2MM |
| Loan Loss Allowance | Q4 2018vs Q4 2017 | $19.0MM$16.9MM |
| Unbacked Noncurrent Loans | Q4 2018vs Q4 2017 | $22.0MM$3.5MM |
| Real Estate Owned | Q4 2018vs Q4 2017 | $3.9MM$3.7MM |
Always verify rates and promotions with the bank or credit union. We are not Southern Bank; we are a rate comparison website and cannot provide official rates or promotions.
* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
