Southern Bank


Reviews (5)

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.

Unhappy With This Bank!

Posted by: Tkestud | May 31, 2019

Very unhappy with this bank. I have constant problems with the ATM never having money in it or being "temp out of service". This is the only branch in Batesville and the only ATM. You would think they would keep it stocked. Just in the past week, I've had to make 4 trips to the ATM to try to get money out of it since they are only open the times I'm at work. Three of these trips, the ATM was either Out of Service or had no money in it. This seems to be a constant problem. I've called and complained many times and never get a call back. It's extremely frustrating. I have called the main bank numerous times and the bank in Batesville but nothing ever seems to be done about it. I called and complained AGAIN at the main bank in Missouri ( the number automatically sends you there if the bank in Batesville is closed) I was told they would let the Batesville Manager know and it would be taken care of. I go back this morning to try to get money out of my account...( the bank is closed because they have changed their opening hours to 830am) and of course it is TEMP OUT OF SERVICE. I'm to the point of starting to use another bank. I have accounts at two other banks in Batesville (First Community and Citizens) and I have NEVER had an issue with their ATMS but Southern has ONE ATM in Batesville and it never works. I have literally pulled up to the ATM of this bank right at closing time and watched the employees walking out leaving with the ATM flashing "OUT OF SERVICE". Not happy with SOUTHERN BANK at all. VERY VERY UNHAPPY CUSTOMER!! THINK TWICE ABOUT OPENING AN ACCT HERE...ESPECIALLY IF YOU HAVE TO USE THE ATM OFTEN BECAUSE OF THE INCONVENIENT HOURS THEY ARE OPEN.

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
B+

Health Grade Components

Overall
FDIC Certificate #28332
Year Established1887
Employees447
Primary RegulatorFED
Profit Margin
Return on Assets - YTD1.37%
Return on Equity - YTD13.36%
Annual Interest Income$25.3MM
Assets and Liabilities
AssetsQ1 2019vs Q1 2018$2.17B$1.84B
LoansQ1 2019vs Q1 2018$1.82B$1.52B
DepositsQ1 2019vs Q1 2018$1.88B$1.58B
Equity CapitalQ1 2019vs Q1 2018$227.0MM$193.9MM
Loan Loss AllowanceQ1 2019vs Q1 2018$19.4MM$17.3MM
Unbacked Noncurrent LoansQ1 2019vs Q1 2018$24.5MM$6.0MM
Real Estate OwnedQ1 2019vs Q1 2018$3.6MM$4.1MM
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Southern Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.00%--First-Time Home Buyers Savings
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

Southern Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.30%*$250k*-Money Market Passbook Account
OTHER TIERS: 0.55% Up to $25k | 0.80% $25k - $100k | 1.10% $100k - $250k
1.20%*$250k*-MMDA Platinum
OTHER TIERS: 0.55% Up to $25k | 0.65% $25k - $50k | 0.80% $50k - $100k | 1.05% $100k - $250k

Southern Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
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
Locations

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