Southern Bancorp
 | |
| Company type | Public |
|---|---|
| Industry | Financial services, Philanthropy |
| Founded | 1986 |
| Headquarters | , |
Area served | Arkansas, Mississippi |
| Total assets | $1,200,000,000 (2014) |
| Website | banksouthern |
Southern Bancorp (founded as Southern Development Bancorporation, often referred to simply as "Southern") is a Community Development Financial Institution headquartered in Arkadelphia, Arkansas that was founded in 1986.[1]
With 43 locations, the organization focuses most of their 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)