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The Southern Banc Company, holding company for The Southern Bank, reported third-quarter net income of $340,000, or $0.45 per basic share, for the quarter ending March 31, 2024, down from $462,000, or $0.61 per basic share, in the same quarter in 2023. For the nine-month period ending March 31, 2024, net income was $1,177,000, compared to $1,693,000 in the previous year. The net interest margin decreased by 1.04%, with interest income up by $234,000 and interest expense up by $254,000. Non-interest income rose by 45.8%, while non-interest expense increased by 14.7%. Total assets were $107 million as of March 31, 2024, with stockholders' equity at $14 million. The Southern Bank operates four full-service offices and one loan production office in Alabama.