Welcome to our dedicated page for Southern Banc Co news (Ticker: SRNN), a resource for investors and traders seeking the latest updates and insights on Southern Banc Co stock.
The news feed for The Southern Banc Company, Inc. (SRNN) provides detailed updates drawn from the company’s earnings announcements and financial disclosures. As the holding company for The Southern Bank Company, a savings institution with full-service banking offices in Gadsden, Albertville, Guntersville, and Centre, Alabama and a loan production office in Birmingham, Alabama, SRNN regularly releases information that sheds light on its financial performance and balance sheet trends.
Readers can follow quarterly and annual earnings releases that report net income, basic and diluted earnings per share, net interest income, provisions for loan or credit losses, non-interest income, and non-interest expenses. The company’s news often explains how changes in interest and fees on loans, interest and dividends on securities, other interest income, and interest on deposits influence overall profitability and net interest margins.
SRNN’s announcements also discuss non-interest income and expense dynamics, including movements in customer service fees, miscellaneous income, salaries and employee benefits, occupancy or office building and equipment expenses, professional services, data processing, and other operating expenses. Management commentary frequently highlights how the interest rate environment and competitive conditions affect lending and deposit activities.
For investors and observers of regional savings institutions, this news page offers a centralized view of The Southern Banc Company’s reported results, capital position, and key operating metrics over time. Regularly reviewing these releases can help users understand trends in total assets, deposits, stockholders’ equity as a percentage of assets, and the company’s response to changing economic and regulatory conditions.
The Southern Banc Company (OTCBB: SRNN) reported a net income of approximately $138,000 for Q1 2021, up from $73,000 in Q1 2020, equating to $0.18 per share. For the nine-month period, net income increased to $307,000 from $274,000 a year prior. The company's net interest margins rose by 6.4%, driven by a decrease in total interest expense by $115,000. Non-interest income increased by 14.1%, while non-interest expenses decreased slightly. Total assets grew to $111.4 million as of March 31, 2021, with total stockholders' equity at $11.9 million.
The Southern Banc Company (OTCBB: SRNN) reported a net income of approximately $140,000, or $0.18 per share, for Q4 2020, up from $75,000, or $0.10 per share, in Q4 2019. For the six-month period ending December 31, 2020, net income was approximately $169,000, or $0.22 per share, down from $201,000, or $0.26 per share in the previous year. The Company’s net interest income rose by 1.3% to $1.14 million. Non-interest income surged by 48.3%, while total non-interest expenses decreased by 4.2%. Total assets increased to $111.8 million, with stockholders’ equity at approximately $12.5 million.