SouthPoint Bank is headquartered in Birmingham and is the 25th largest bank in the state of Alabama. It is also the 1,734th largest bank in the nation. It was established in 2005 and as of December of 2019, it had grown to 85 employees at 4 locations. SouthPoint Bank has an A health rating.
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Helpful For Any Needs
Been with SouthPoint for about 3 or 4 years now and have not had trouble. CD rates aren't the best, but interest checking and money market makes up. Folks in the branch always willing to help when needed.
Southpoint Has Been Great For Me (Hence The 3 Star Instead Of 1)
SouthPoint has been great for me (hence the 3 star instead of 1), but are no longer offering the rewards interest rate effective March 1st, 2010. They said that the reason for the change is that "their rate was higher than most of their competitors." So you reduce it a little, right, not just totally can it. Anyway, moving on. Starting to feel like a serial bad-relationship kind of guy, always thinking that the next girl will make me happy. So am I using these banks, or are they using me????
Poor Customer Service
Do not rely on the customer service to be of help to you! I've been waiting a week to get an answer on a mistake that they made. The last time I had to wait on an answer - it took 8 months! Good Luck if you use this bank!
No 24 Hour Check Verification
Someone wrote a check to me from SouthPoint Bank, and I was unable to locate any information with regards to how to verify the funds for the check. The only 24 hour number they have is the debit/credit card fraud number.
Data as of Q4 2019
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 58088 |
| Year Established | 2005 |
| Employees | 85 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.32% |
| Return on Equity - YTD | 14.39% |
| Annual Interest Income | $19.3MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2019vs Q4 2018 | $410.1MM$365.1MM |
| Loans | Q4 2019vs Q4 2018 | $340.7MM$302.0MM |
| Deposits | Q4 2019vs Q4 2018 | $368.3MM$314.0MM |
| Equity Capital | Q4 2019vs Q4 2018 | $38.9MM$32.6MM |
| Loan Loss Allowance | Q4 2019vs Q4 2018 | $3.6MM$3.6MM |
| Unbacked Noncurrent Loans | Q4 2019vs Q4 2018 | $697.00K$1.2MM |
| Real Estate Owned | Q4 2019vs Q4 2018 | $89.00K$221.00K |