Southern Bank and Trust Company

Name

Southern Bank and Trust Company

Legal name

Southern Bank and Trust Company

Website

https://southernbank.com

Company type

Private

Founded year

1901

Operating status

Operating

Headcount range

501–1,000 employees

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (52211)

SIC

State Commercial Banks (6022)

akta.pro primary industry

General SME & Middle-Market Commercial Banking (FSABABAA)

akta.pro secondary industry

SME Sector/Specialty Banking (Vertical-focused: Healthcare, Agri, Tech, etc.) (FSABABAI)

Keywords

• Community banking services
• Retail banking
• Commercial lending
• Wealth management
• Mortgage lending

Headquarters

HQ city

Mount Olive

HQ country

United States

HQ region

North America

Offices53 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D, Supply Chain

Revenue model

1. Interest Income: Southern Bank generates revenue primarily through interest earned on loans including personal loans, mortgages, home equity lines of credit, business loans, commercial loans, construction loans, and agriculture loans. The bank offers both fixed-rate and adjustable-rate mortgage products.
2. Deposit Account Fees: Monthly maintenance fees on checking and savings accounts including Gold Checking ($7/month), Prime Checking (fee waived with minimum balances), E-Checking ($3/month), and various business checking accounts. Additional fees include overdraft fees, ATM fees, and wire transfer fees.
3. Mortgage Banking: Revenue from mortgage origination including conventional loans, VA loans, USDA loans, construction loans, renovation loans, and affordable housing programs. Mortgage payment processing and servicing fees.
4. Wealth Management Services: Investment management, retirement planning, and estate planning services offered through partnership with Osaic Institutions. Revenue sharing or advisory fees from the partnership.
5. Treasury and Merchant Services: Fees from business treasury services including ACH payments, wire transfers, remote deposit capture, merchant card processing, and business bill pay services.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels8 records

Core offering

Southern Bank and Trust Company is a community bank offering deposit accounts (checking, savings, money market, CDs), consumer and commercial loans (personal, mortgage, HELOC, business, construction, agriculture), treasury and merchant services for businesses, and wealth management through a partnership with Osaic Institutions. Products are delivered through 55+ branches in Eastern North Carolina and Southeastern Virginia, complemented by digital channels (mobile app, online banking, Southern BusinessPro) and an in-house mortgage origination and servicing operation.

Product overview

Southern Bank offers a comprehensive community banking platform serving Eastern North Carolina and Southeastern Virginia since 1901. The core product portfolio spans personal banking (Gold Checking, Prime Checking, E-Checking, Savings, CDs, IRAs, Money Market), business banking (Business Basics, Business Banking, Business Plus, Ultimate Business Checking, Commercial Savings, Money Market, SIMPLE IRA, SEP IRA), treasury and merchant services, and Southern Wealth Management. Key digital platforms include the Southern Bank Mobile App for personal banking and Southern BusinessPro for business online/mobile banking. Mortgage products are offered through Southern Bank Mortgage including conventional, VA, USDA, construction, renovation, and affordable housing loans. The SouthernU sub-brand targets student banking while Southern@Work provides employer-sponsored financial wellness benefits. Integration partners include Zelle (P2P payments), Apple Pay/Google Pay/Samsung Pay (mobile payments), and BaZing (loyalty discounts).

Differentiator

Problem solved

Functional benefit

Products and services

• Gold Checking Premium personal checking account with bundled identity theft protection, cell phone protection, travel insurance, and roadside assistance for individual consumers.
• Prime Checking Personal checking account with relationship-based fee waivers and $2,500 identity theft protection for individual consumers.
• E-Checking Low-cost digital personal checking account with $3 monthly fee, e-statements required, and identity theft protection for digital-first consumers.
• Regular Savings Account Interest-bearing savings account with daily compounded interest and a Visa check card for individual savers.
• Christmas Club Savings Goal-based holiday savings account with automatic monthly deposits and year-end payout for individual consumers.
• Individual Retirement Accounts (IRAs) Traditional and Roth IRA retirement savings products with $100 minimum deposit for individual retirement savers.
• Money Market Accounts Tiered personal money market account with standard and premium options for individual savers seeking higher yields.
• Certificates of Deposit (CDs) FDIC-insured fixed-rate CDs with terms from one week to five years and $500 minimum deposit for personal savers.
• Personal Loans Secured or unsecured installment loans for vehicle, boat, RV, and other personal borrowing needs.
• Cash Reserve Line of Credit Overdraft protection revolving line of credit attached to checking accounts for personal liquidity needs.
• Home Equity Line of Credit (HELOC) Revolving home equity line of credit with interest-only payments and flexible draw periods for personal homeowners.
• Business Basics Checking Low-transaction-volume business checking with up to 100 monthly transactions and waivable maintenance fee for small businesses.
• Business Banking Checking Mid-volume business checking with ACH, bill pay, online and mobile banking, and Visa business debit card.
• Business Plus Checking High-volume business checking with up to 500 monthly transactions, safe deposit box, and Prime account fee waiver perk.
• Ultimate Business Banking Premium unlimited-transaction business checking with safe deposit box, discounted checks, and night bags for high-volume businesses.
• Commercial Savings Interest-bearing business savings account with a low initial deposit for businesses of all sizes.
• Business Money Market Accounts Tiered high-yield business money market accounts (Commercial CIMM and Premium PIMM) for businesses.
• SIMPLE IRA SIMPLE IRA plan for small businesses to offer employee salary deferral retirement savings with limited employer contributions.
• SEP IRA SEP IRA allowing tax-deferred retirement contributions for employees, available to companies of any size.
• Treasury Services Cash management suite for businesses including ACH, wire transfers, remote deposit capture, business bill pay, account reconciliation, and fraud protection.
• Merchant Services Card payment processing for businesses including hardware terminals, virtual terminal, mobile solutions, and PCI compliance support.
• Business Loans Commercial lending products including equipment financing, expansion capital, debt consolidation, construction, agriculture, Reserve Plus Line of Credit, and SBA loans for businesses.
• Southern Bank Mortgage Residential mortgage products including conventional, VA, USDA, construction, renovation, first-time homebuyer, and affordable housing loans.
• HELOC Special Promotional HELOC with introductory fixed rates as low as 5.74% APR for the first two years for qualified borrowers.
• Southern Wealth Management Wealth advisory offering delivered through Osaic Institutions covering investment management, retirement, estate, and risk planning for individuals and families.
• SouthernU Student Banking Student-targeted banking program for ages 13-25 with checking and savings, Gold Checking perks, Zelle, My Dashboard, and financial education.

Quantifiable outcome

• 125 years of continuous community banking service since 1901
• +4 more outcomes

Named customers4 records

Segments8 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature6 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Osaic InstitutionscoreStrategic or Co-development PartnerOsaic Institutions provides securities, investment advisory services, and insurance products through Southern Wealth Management. Osaic advisors are located at Southern Bank branch locations to serve wealth management clients. Securities and advisory services offered through Osaic Institutions, Inc., member FINRA and SIPC and SEC-registered investment advisor.
• Carolina Hurricanes FoundationminorGTM or Marketing PartnerThrough the Wins for Kids initiative, Southern Bank donates $500 to the Carolina Hurricanes Foundation for every Canes win, supporting education, health, and opportunities for children across North Carolina.
• BaZingminorGTM or Marketing PartnerBaZing discount program provides Southern Bank customers with unlimited mobile access to savings of up to 50% on travel and at local and national retailers and restaurants. Integrated with Gold Checking accounts.

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Market position

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCfGHaqRLPSM5l7_nN1Cnldg
• Facebookfacebook.com/southernbank.since1901
• LinkedInlinkedin.com/company/southern-bank-and-trust-co-
• Instagraminstagram.com/southernbanksince1901
• Xx.com/Southern1901

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles33 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Southern Bank and Trust Company