The Southern Banc Company, Inc. is a holding company for The Southern Bank Company (the Bank). The principal business of the Bank consists of accepting deposits from the general public through the Bank’s main and branch offices and investing those funds in loans secured by real estate properties, commercial and consumer loans located in its primary market area, and factoring. Its securities portfolio consists of mortgage-backed securities, municipal securities and government agency securities, including agency notes. Its full-service branch locations in Northeast Alabama offer banking solutions for every personal banking need including personal checking, mortgage loans, consumer loans, and home equity lines of credit. It operates a division that conducts accounts receivable management. It works with small and medium-sized business customers to offer practical solutions for deposit and borrowing needs. Its business banking services include real estate lending and equipment financing.