Southern Bancorp

{{short description|Community development financial institution in the US}}

{{Infobox company

| name = Southern Bancorp

| logo = Southern Bancorp logo.png

| type = Public

| location_city = Arkadelphia, Arkansas

| location_country = United States

| area_served = Arkansas, Mississippi

| industry = Financial services, Philanthropy, Mortgage

| founded = {{start date|1986}}

| assets = $2,800,000,000 (2024)

| website = {{URL|https://banksouthern.com}}

}}

Southern Bancorp is a community development financial institution

headquartered in Arkadelphia, Arkansas. It was founded in 1986 as Southern Development Bancorporation, and is often referred to simply as "Southern".{{Cite journal|author=Kelley, Brian|year=1993|title=Rebuilding rural America: the Southern Development Bancorporation|journal=The Annals of the American Academy of Political and Social Science|volume=529|pages=113-127|doi=10.1177/0002716293529001011}}

With 56 locations, the organization focuses most of its work in the Arkansas Delta and Mississippi Delta.{{cite web |title=Branch Locations |url=https://banksouthern.com/locations/ |publisher=Southern Bancorp |access-date=1 January 2025}} Southern's community-development work in these areas has directly improved various aspects of resident's lives through different projects such as the Delta Bridge Project,Official website: [http://deltabridgeproject.com Delta Bridge Project] The Arkadelphia Promise,Official website: [http://arkadelphiapromise.com/ Arkadelphia Promise] and numerous other sponsorships and projects.

Origin

In 1986, then Arkansas Governor Bill Clinton partnered with the Winthrop Rockefeller Foundation to help combat different issues plaguing the state.{{cite web |title=About Southern |url=https://banksouthern.com/about/ |publisher=Southern Bancorp |access-date=23 September 2021}} From this initiative, various nonprofit development agencies came together to form Southern Bancorp.

Structure

There are three entities that make up Southern Bancorp:

  • Southern Bancorp Bank (SBB)
  • Southern Bancorp Community Partners (SBCP)
  • Southern Bancorp Incorporated (SBI)

References