First Southern State Bank
First Southern State Bank is a 113-year-old community bank headquartered in Stevenson, Alabama, operating 11 branches across Northeast Alabama. It provides personal and business deposit, lending, and digital banking services to individuals, farms, SMBs, and nonprofits.
- Company typePrivate
- Founded1910
- HeadquartersStevenson, United States
- Headcount11–50
- GTM typeB2B and B2C
- OfferingServices
What First Southern State Bank does
First Southern State Bank is a privately held, state-chartered community bank founded in 1910 in Stevenson, Alabama. Operating under NMLS #761800 and FDIC insurance, the bank has built a regional franchise of 11 branch locations across Cherokee, DeKalb, Jackson, and Marshall Counties in Northeast Alabama, serving individuals and families, small-to-medium businesses, large corporations, agricultural/farm customers, and nonprofit organizations. The bank's product portfolio spans personal and commercial deposit accounts (checking, savings, money market, CDs, IRAs), consumer and commercial loan products (auto, mortgage, construction, agricultural, business, RV/boat), Visa credit cards issued through TCM Bank, N.A., and a digital banking suite including mobile banking, mobile deposit, Zelle P2P payments, Apple Pay/Google Pay, contactless debit cards, and the MyCardRules card management feature.
The bank's revenue model is grounded in traditional community banking economics. Net interest income from loan portfolios (consumer, mortgage, commercial, agricultural) is the primary driver, supplemented by deposit account fees, $32 per-item overdraft fees (capped at $160/day consumer), merchant services fees via BancCard partnership, safe deposit box rentals, and interchange/credit card revenue. Distribution is branch-led with relationship banking as the core go-to-market motion, supplemented by digital channels (online banking, iOS/Android mobile apps, 24-hour telephone banking, ATMs and drive-thru). Total assets reached $772M under Jack Lovelady's leadership (as of 2023), doubling through organic growth and the 2020 acquisition of Vantage Bank. In 2024, leadership transitioned with Scott Kirk assuming the President and CEO role while Lovelady remained Chairman, signaling organizational continuity.
First Southern State Bank firmographics
Firmographics- Name
- First Southern State Bank
- Legal name
- First Southern State Bank
- Website
- https://fssbank.com
- Company type
- Private
- Founded year
- 1910
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- First Southern State Bank is a 113-year-old community bank headquartered in Stevenson, Alabama, operating 11 branches across Northeast Alabama. It provides personal and business deposit, lending, and digital banking services to individuals, farms, SMBs, and nonprofits.
- Ownership category
- akta.pro rank
First Southern State Bank industry classification
Industry- Product category
- Community Banking
- NAICS
- Commercial Banking (52211), Depository Credit Intermediation (5221)
- SIC
- State Commercial Banks (6022)
- akta.pro primary industry
- SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)
- akta.pro secondary industries
- Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA), Retail Lending (Personal Loans, Auto, Credit Lines) (FSABAAAB), SBA/Government-Backed & Development Finance Loans (FSAKAGAI)
Keywords
Where First Southern State Bank is headquartered
LocationHeadquarters
- HQ city
- Stevenson
- HQ country
- United States
- HQ region
- North America
Offices11 records
Markets served
First Southern State Bank business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others
Revenue model
- Interest Income: Primary revenue from interest earned on loans including auto loans, mortgages, construction loans, business loans, agricultural loans, and personal loans to individuals and businesses.
- Deposit Account Fees: Monthly service fees, minimum balance fees, and analysis fees for various checking and savings accounts including Small Business Checking, Business Checking, and personal checking accounts.
- Credit Card Operations: Revenue from credit card operations through partnership with TCM Bank, N.A. offering consumer and business credit cards.
- Business Services Fees: Fees from ACH origination, merchant services, Positive Pay, and remote deposit capture services for business customers.
- Overdraft Fees: $32 overdraft fee per item when accounts are overdrawn.
- Safe Deposit Box Rental: Rental income from safe deposit boxes at various branch locations, priced from $0.05 per day.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Personal Checking Options - E-Checking |
| Subscription | Monthly | Personal Checking - Regular Checking |
| Subscription | Monthly | Personal Checking - FSSB CLUB Checking |
| Subscription | Monthly | Personal Checking - Privilege Checking (Age 60+) |
| Subscription | Monthly | Personal Savings |
| Subscription | Monthly | Money Market Account |
| Subscription | Monthly | Money Prime Account |
| Subscription | Monthly | Small Business Checking |
| Subscription | Monthly | Business Checking |
| Subscription | Monthly | Church, Civic, or Nonprofit Checking |
| Transaction based/ take rate | Pay-as-you-go | Overdraft Privilege |
| Unit Pricing | Monthly | Safe Deposit Boxes |
Go-to-market motion1 record
Distribution channels5 records
Marketing channels5 records
First Southern State Bank product offering
Product offeringCore offering
First Southern State Bank is a state-chartered community bank that accepts deposits and originates loans for individuals, families, small-to-medium businesses, farms, and nonprofit organizations across Northeast Alabama. Its core products include personal and business checking/savings accounts, certificates of deposit, IRAs, consumer loans (auto, mortgage, construction, personal), agricultural loans, commercial loans, credit cards, and a digital banking suite delivered through 11 physical branches plus online and mobile channels.
Product overview
First Southern State Bank is a state-chartered community bank serving Northeast Alabama since 1910, offering a unified portfolio of traditional banking products through 11 branch locations. The core offering consists of personal deposit products (Checking, Savings, CDs, IRAs) and loan products (Auto, Mortgage, Construction, Personal, Agricultural), plus business banking services (Business Checking, Savings, Loans, Credit Cards, Merchant Services, ACH Origination). Digital banking is delivered as an integrated suite of online and mobile channels — the Online Banking platform and Mobile Banking App serve as the primary digital access points, supplemented by specialized features including Mobile Deposit, Zelle P2P payments, E-Statements, Debit Card Management, Apple Pay, Contactless/Tap to Pay cards, Direct Line Telephone Banking, and Overdraft Protection services. Business Services add-ons include ACH Origination, Merchant Services, Positive Pay, and Remote Deposit Capture. The bank partners with Visa and TCM Bank for credit cards and BancCard for merchant services, while maintaining direct integrations with Zelle and Apple Pay for payment capabilities.
Differentiator
Problem solved
Functional benefit
Products and services
- Personal Checking Personal deposit account offering multiple checking options including E-Checking, Regular Checking, FSSB CLUB Checking, FSSB CLUB Family Checking, and Privilege Checking for customers age 60+. Provides secure, easy banking access for individuals and families.
- Personal Savings Savings account options including traditional Savings, Money Market, and Money Prime accounts earning interest with various minimum balance requirements, designed for individuals and families.
- Personal Loans Comprehensive consumer loan products including Auto Loans, Construction Loans, Debt Consolidation Loans, Deposit Secured Loans, Mortgages, Personal Loans, and Recreational Vehicle & Boat Loans for individual borrowers.
- Certificates of Deposit Fixed interest rate certificates with terms ranging from 91 days to 60 months designed for savings growth by individual customers.
- Individual Retirement Accounts (IRAs) Tax-advantaged retirement savings accounts including Traditional IRA (pre-tax funding with tax-deferred earnings) and Roth IRA (after-tax funding with tax-free withdrawals at retirement) for individual customers.
- Consumer Credit Cards Visa Platinum credit cards issued through partnership with TCM Bank, N.A. featuring rewards points, cell phone protection, no annual fee, and free FICO score access for individual consumers.
- Business Checking Business deposit accounts including Small Business Checking, Business Checking, and Church/Civic/Nonprofit Checking with analysis fees and various service options for businesses and organizations.
- Business Savings Business savings options including Savings accounts, Money Market accounts, and Certificates of Deposit to help businesses save and protect funds.
- Business and Agricultural Loans Commercial financing including working capital, equipment loans, real estate purchases, new construction, business renovation, and specialized Agricultural Loans supporting local farmers since 1910.
- Business Credit Cards Business credit cards with options for Rewards, Cash Back, or lower-rate cards. Features include no annual fee, competitive rates, auto rental insurance, travel accident insurance, fraud monitoring, and zero fraud liability.
- Business Services Suite of business banking services including ACH Origination for payroll/vendor payments, Merchant Services through BancCard partnership, Positive Pay fraud protection, and Remote Deposit Capture for business customers.
- Credit Card Programs Consumer and business Visa-branded credit cards issued pursuant to license from Visa U.S.A., Inc. through partnership with TCM Bank, N.A., available to both individual and business customers.
- Mobile Banking App Free mobile banking application available for iOS and Android devices enabling balance checking, money transfers, bill payments, mobile deposit, and card management features for individual and business customers.
- Online Banking (Net Banking) Digital Banking Suite providing 24/7 online access to accounts for balance checking, money transfers, and bill payments from any device with internet connection.
- Direct Line Telephone Banking 24-hour automated telephone banking system providing account balance inquiries, history, fund transfers, debit card activation, PIN changes, stop payments, and overdraft option management.
- Overdraft Protection and Overdraft Privilege Overdraft protection via automatic transfers from another deposit account at no fee, and Overdraft Privilege covering transactions up to disclosed limits for $32 per item fee.
- Safe Deposit Boxes Secure storage boxes for valuables available at branches with pricing starting at approximately $0.05 per day.
Quantifiable outcome
- Over 113 years of continuous operation since 1910
- +2 more outcomes
Companies that use First Southern State Bank
Customer profileNamed customers5 records
Segments5 records
Ideal customer profiles3 records
First Southern State Bank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
Feature3 records
First Southern State Bank partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered minor and core.
- ICBA (Independent Community Bankers of America)minorPartnership with ICBA for consumer education and FDIC insurance awareness during COVID-19 pandemic. ICBA provides resources and guidance for community banks to educate customers about deposit insurance and safe banking practices.
- Vantage BankcoreAcquired Vantage Bank through merger in 2019, integrating it into First Southern State Bank during the COVID-19 pandemic. This acquisition expanded the bank's presence and customer base in Northeast Alabama.
- BancCardminorBancCard provides merchant services for debit and credit card payment processing for business customers through First Southern State Bank. Specializes in secure and seamless card services for community banks.
- TCM Bank, N.A.coreTCM Bank, N.A. issues credit cards (Visa) on behalf of First Southern State Bank for both consumer and business credit card programs. Cards are issued pursuant to license from Visa U.S.A., Inc.
Scale indicators4 records
Recent moves12 records
Expansion highlights5 records
First Southern State Bank competitors and assessment
Company assessmentDirect peers
- Bank Independent: North Alabama community bank headquartered in Sheffield, AL with branches across the Shoals and surrounding counties. Directly comparable community-bank model serving similar rural/small-metro Alabama markets.
- ServisFirst Bancshares: Alabama-headquartered commercial bank serving businesses and consumers across the state with comparable deposit, lending, and treasury products. Most direct peer given shared Alabama footprint and SME/commercial focus, though materially larger.
- Progress Bank and Trust: North Alabama community bank headquartered in Huntsville, serving consumer and commercial clients. Comparable product mix and customer profile across the same North Alabama geography.
- Bryant Bank: Alabama community bank operating multiple branches statewide with personal, business, and mortgage lending. Closely comparable operating model and product suite to FSSB's community banking franchise.
- Peoples Independent Bank: Community bank serving North Alabama with similar deposit and small-business lending focus. Comparable size range and rural-market banking orientation.
Broad incumbents
- Regions Financial: Large Alabama-headquartered regional bank with statewide branch presence including Northeast Alabama counties where FSSB operates. Competes for the same consumer and SMB deposits/loans from a much larger scale.
- Pinnacle Financial Partners: Tennessee-headquartered Southeast regional bank with growth into adjacent Alabama markets. Larger competitor offering similar relationship-banking model with greater scale.
- Renasant Corporation: Southeast US bank holding company with branches across Alabama, Mississippi, and Tennessee. Competes for community-bank relationships across overlapping geographies including Northeast Alabama.
- Cadence Bank: Southeast regional bank with significant Alabama presence offering commercial, treasury, and consumer banking. Larger incumbent competing for the same commercial and ag borrowers in Alabama.
Emerging players
- Live Oak Bancshares: Digital-first community bank with strong small-business and SBA lending focus. Targets a similar SMB customer base with superior technology and broader product reach from a digital platform.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
First Southern State Bank social profiles
Digital presenceFirst Southern State Bank compliance and trust
Trust signalCompliance4 records
First Southern State Bank financial estimates
Financial estimateRevenue estimate
Valuation estimate
First Southern State Bank leadership team
Management profileNumber of profiles
Profiles17 records
First Southern State Bank funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
First Southern State Bank M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about First Southern State Bank
What does First Southern State Bank do?
First Southern State Bank is a state-chartered community bank that accepts deposits and originates loans for individuals, families, small-to-medium businesses, farms, and nonprofit organizations across Northeast Alabama. Its core products include personal and business checking/savings accounts, certificates of deposit, IRAs, consumer loans (auto, mortgage, construction, personal), agricultural loans, commercial loans, credit cards, and a digital banking suite delivered through 11 physical branches plus online and mobile channels.
Is First Southern State Bank a public or private company?
First Southern State Bank is a private company. It is classified as family owned and is currently operating.
When was First Southern State Bank founded?
First Southern State Bank was founded in 1910. It employs 11 to 50 people.
Where is First Southern State Bank based?
First Southern State Bank is headquartered in Stevenson, United States, in the North America region.
How does First Southern State Bank make money?
Six revenue lines are on record. Interest Income is the primary driver. The others are deposit Account Fees, credit Card Operations, business Services Fees, overdraft Fees and safe Deposit Box Rental.
Who are First Southern State Bank's main competitors?
Direct peers on record are Bank Independent, ServisFirst Bancshares, Progress Bank and Trust, Bryant Bank and Peoples Independent Bank. Broad incumbents are Regions Financial, Pinnacle Financial Partners, Renasant Corporation and Cadence Bank. Live Oak Bancshares is listed as an emerging player.
Does First Southern State Bank have an API?
No public API is recorded for First Southern State Bank.
What industry is First Southern State Bank in?
First Southern State Bank's product category is Community Banking. Its primary akta.pro industry code is FSABABAC, SME Deposits & Business Accounts (Operating, Savings, CDs), with a secondary code of FSABAAAA, Mass-Market Consumer Deposit Banking (Checking/Savings). Its NAICS code is 52211 and its SIC code is 6022.