Southern Bank

Reviews (4)

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!

Posted by: Holstwi | Sep 28, 2017

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

Posted by: ApeRazor | Jun 21, 2016

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.


Health Grade Components

FDIC Certificate #28332
Year Established1887
Primary RegulatorFED
Profit Margin
Return on Assets - YTD1.37%
Return on Equity - YTD13.26%
Annual Interest Income$85.5MM
Assets and Liabilities
AssetsQ4 2018vs Q4 2017$2.20B$1.77B
LoansQ4 2018vs Q4 2017$1.80B$1.45B
DepositsQ4 2018vs Q4 2017$1.81B$1.52B
Equity CapitalQ4 2018vs Q4 2017$220.1MM$179.2MM
Loan Loss AllowanceQ4 2018vs Q4 2017$19.0MM$16.9MM
Unbacked Noncurrent LoansQ4 2018vs Q4 2017$22.0MM$3.5MM
Real Estate OwnedQ4 2018vs Q4 2017$3.9MM$3.7MM
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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.

Southern Bank Savings Account Rates

0.50%*$250k*-Savings Account
OTHER TIERS: 0.25% Up to $25k | 0.35% $25k - $100k | 0.40% $100k - $250k
0.50%--Health Savings Account
0.50%*$15k*-Child/Student Savings
OTHER TIERS: 0.25% Up to $15k
0.25%--Christmas Club
0.15%--No Checks Account

Southern Bank Money Market Rates

1.31%*$250k*-Money Market Passbook Account
OTHER TIERS: 0.55% Up to $25k | 0.80% $25k - $100k | 1.11% $100k - $250k
1.21%*$250k*-MMDA Platinum
OTHER TIERS: 0.55% Up to $25k | 0.65% $25k - $50k | 0.80% $50k - $100k | 1.06% $100k - $250k

Southern Bank Checking Account Rates

3.01%-$15kKasasa Cash
1.01%*-$10kPremium 50 Plus Checking
OTHER TIERS: 0.15% $10k+
0.30%*$100k*-Small Business Interest Checking
OTHER TIERS: 0.15% Up to $25k | 0.25% $25k - $100k


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