Southern Bancorp
Community development financial institution in the US
From Wikipedia, the free encyclopedia
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".[1]
 | |
| Company type | Public |
|---|---|
| Industry | Financial services, Philanthropy, Mortgage |
| Founded | 1986 |
| Headquarters | , |
Area served | Arkansas, Mississippi |
| Total assets | $2,800,000,000 (2024) |
| Website | banksouthern |
With 56 locations, the organization focuses most of its work in the Arkansas Delta and Mississippi Delta.[2] 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,[3] The Arkadelphia Promise,[4] 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.[5] 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)