Southern Bank (Spartanburg, SC)
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Data as of · sourced from FFIEC call reports. How we update
Southern Bank is an FDIC-insured commercial bank headquartered in Spartanburg, SC, established in 1945 (FDIC certificate 16288), and it is supervised by the FDIC. At Q2 2026 it reported total assets of $407.9M, up 16.4% from Q2 2025, the 28th largest of 43 banks headquartered in South Carolina. It reports no CET1 ratio; its Tier 1 leverage ratio was 8.18% at Q2 2026, not above the 9% community bank leverage ratio requirement for being considered well capitalized.
- Charter
- Commercial bank
- Regulator
- FDIC
- Deposit insurance
- FDIC
- FDIC certificate
- 16288
- Headquarters
- Spartanburg, SC
- Established
- 1945
- Total assets, Q2 2026
- $407.9M
- Assets vs Q2 2025
- +16.4%
- Tier 1 leverage ratio, Q2 2026
- 8.18%
- Domestic offices
- 8 FDIC institution directory, current count
- Routing number
- 061212235
- Holding company
- SOUTHERN FINANCIAL CORPORATION
- Asset rank in state
- 28th of 43 in South Carolina
Southern Bank spends more to run itself than most banks of its size. Its balance sheet stood at $408 million at June 30, 2026, up 16.4% from a year earlier; it is based in Spartanburg, South Carolina. It earns about $0.11 a year on every $100 of assets, a small fraction of the median of $1.28 for the 2,660 banks with $100 million to $1 billion in assets. It also spends about 90 cents to bring in each dollar of revenue, higher than about 9 in 10 banks its size (median 61 cents).
Earnings jumped: net income for the quarter was $117,000, 41% above the same quarter a year earlier. Problem loans fell by more than half over the year: loans on nonaccrual or 90 or more days past due, net of government guarantees are down to 0.28% of loans from 0.89%. Funding is the softer spot: it pays an average of 3.00% on its deposits and borrowings, higher than about 9 in 10 banks its size (median 1.80%).
As of June 30, 2026, Southern Bank reported a return on assets of 0.11%, a nonperforming-loan ratio of 0.28% and a Texas ratio of 3.85%. The figures come from its call report filed with the FFIEC.
Southern Bank ranks as the 28th largest of the 43 banks based in South Carolina, by total assets at Q2 2026. Quarter on quarter (Q1 2026 to Q2 2026), its total assets rose 1.9% to $407.9M, loans rose 3.3% and deposits rose 3.3%. Its loan book on June 30, 2026 was led by non-owner-occupied commercial real estate loans, at 26.9% of total loans, followed by 1-4 family residential loans at 23.5%. The FDIC Summary of Deposits lists 8 offices for it, in 8 cities across 2 states; its Spartanburg office books 34% of its branch deposits. Judged on its Q2 2026 call report, Southern Bank is inside the community bank leverage ratio grace band.
Headquarters Profile
- Address
- 468 E Main St, Spartanburg, SC 29302
- County
- Spartanburg
- Metro Area
- Augusta-Richmond County, GA-SC
- Charter
- Commercial bank, state charter, Fed non-member, FDIC-supervised
- Primary Regulator
- FDIC
- FDIC Region
- Atlanta (Region 5)
- Federal Reserve member
- No
- Federal Reserve district
- District 5, Richmond
- Fiduciary (trust) powers
- —
- Call Report form
- FFIEC 051
- Established
- July 2, 1945
- Former names
- Bank of Burke County (1987-2001)
- Domestic offices
- 8 FDIC institution directory, current count
- Employees (FTE)
- 71
- Domestic deposits
- $358.4M
- Allowance for credit losses
- $2.7M
- Net charge-offs (YTD)
- -$38K
- Average total assets
- $408.6M
- Average total loans
- $262.0M
- Average interest-bearing deposits
- $316.4M
- Tax status
- C corporation
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- July 2, 1945
- FDIC Cert
- 16288
- Fed RSSD
- 307334
- SEC CIK
- 1831523 → filed by SOUTHERN FINANCIAL CORPORATION
- Website
- www.thesouthern.bank →
- Parent Holding Company
- SOUTHERN FINANCIAL CORPORATION (RSSD 1141816)
Profitability
Q2 annualizedBalance Sheet
Income Statement
Operating & Funding
Ratios tagged annualized use the Q2 income alone. The UBPR and FDIC annualize the year to date instead. FDIC BankFind divides by the average of quarter-end total assets, the UBPR by RC-K average assets. The YTD margin is the UBPR's tax-equivalent figure over its own average earning assets; FDIC BankFind's margin is not tax-equivalent. As a community bank leverage ratio filer, Southern Bank reports no risk-based capital ratios; its Tier 1 leverage ratio applies. How we compute these figures
Quarterly trends
Southern Bank's total assets moved between a low of $264.3M (Q3 2023) and a high of $407.9M (Q2 2026) from Q3 2023 to Q2 2026, and it earned a profit in 11 of the 12 quarters. The line under each chart compares Q2 2026 with Q2 2025. How these charts are built
$407.9M total assets against $350.3M; $375.7M total liabilities against $321.7M.
$262.4M net loans and leases against $209.7M; $358.4M total deposits against $298.9M.
$82.7M securities against $94.7M; $35.4M cash and balances due against $18.0M.
$5.8M total interest income against $4.9M; $2.8M total interest expense against $2.4M.
$3.0M net interest income against $2.5M.
$353K total noninterest income against $213K; $3.1M total noninterest expense against $2.4M.
$150K provision for credit losses against $145K.
$117K net income against $83K.
0.11% return on assets against 0.09%; 3.22% net interest margin against 3.05%.
8.18% tier 1 leverage ratio against 9.02%.
Inside the full Southern Bank terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
Unlock this bank, freeWatch flags
Automated conditions triggered on this bank's latest filing. Advisory only; see the source metric pages for full context. Each flag is tagged Regulatory when it cites an official supervisory threshold, or BRR analysis when it's our own band, informed by our data and models.
Commercial real estate loans exceed 300% of total capital, the threshold at which the 2006 interagency guidance flags a bank for heightened supervisory scrutiny. CRE concentration has been the central stress vector for regional banks since 2023. 2006 Interagency CRE Concentration Guidance (SR 07-1).
Southern Bank rankings
Its closest position to the top of a national ranking is 1,619 of 3,640, for Texas Ratio; its furthest is 3,477 of 3,606, for efficiency ratio.
Quarterly trend: last 8 quarters
Across the 8 quarters to Q2 2026, its return on assets ran from 0.09% (Q1 2026) to 0.40% (Q4 2025) and its net interest margin ran from 3.05% (Q2 2025) to 3.50% (Q3 2025).
| Quarter | Leverage | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 8.18% | 0.11% | 0.28% | 3.85% | 3.22% |
| Q1 2026 | 8.36% | 0.09% | 0.12% | 2.93% | 3.18% |
| Q4 2025 | 9.06% | 0.40% | 0.14% | 3.08% | 3.43% |
| Q3 2025 | 9.13% | 0.24% | 0.16% | 3.26% | 3.50% |
| Q2 2025 | 9.02% | 0.09% | 0.89% | 8.87% | 3.05% |
| Q1 2025 | 9.33% | 0.23% | 0.33% | 5.03% | 3.25% |
| Q4 2024 | 9.38% | 0.26% | 0.34% | 5.18% | 3.20% |
| Q3 2024 | 9.54% | 0.16% | 0.60% | 6.35% | 3.16% |
Swipe the table sideways to see every column.
Branch Network
View all 8 branches → Branch count from the FDIC Summary of Deposits, June 30, 2026. The domestic office count above is the FDIC's current figure, so the two can differ.
| Branch | Location | ZIP | Deposits |
|---|---|---|---|
| Southern Bank (main office) | Spartanburg , SC | 29302 | $122.1M |
| Cleveland Street Greenville Branch | Greenville , SC | 29601 | $70.9M |
| Myrtle Beach Branch | Myrtle Beach , SC | 29577 | $42.6M |
| Aiken Branch | Aiken , SC | 29801 | $38.2M |
| Waynesboro Office Branch | Waynesboro , GA | 30830 | $30.5M |
| Sardis Branch | Sardis , GA | 30456 | $26.3M |
| Hephzibah Branch | Hephzibah , GA | 30815 | $16.4M |
| Gibson Branch | Gibson , GA | 30810 | $11.3M |
Regulatory record
Facts as filed or published, not a rating.
- Deposit market share
- 0.2% of deposits in SC, rank 48 of 73 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- SBA 7(a) lending
- 1 loans, $70K approved, $70K average. 0.00% of that year's loans have since been charged off
- Period: Federal fiscal year 1997 (October to September). Source: SBA 7(a) and 504 loan data (FOIA).
- Not on file
- Enforcement actions, Mortgage lending (HMDA), Consumer complaints, CFPB enforcement, CRA examination rating. No record from these sources, which is not the same as a clean record. Sources
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Frequently asked about Southern Bank
What are Southern Bank's total assets?
As of the Q2 2026 filing, Southern Bank reported total assets of $407.9 million in its FFIEC call report.
Where is Southern Bank headquartered?
It is headquartered in Spartanburg, SC, United States.
When was Southern Bank founded?
It was established in 1945, per the FDIC institution directory.
Is Southern Bank FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #16288). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates Southern Bank?
Southern Bank's primary federal regulator is the FDIC.
How many branches does Southern Bank operate?
It operates 8 domestic offices, per the FDIC institution directory. That count includes administrative and limited-service offices as well as full-service branches.
What is Southern Bank's Texas Ratio?
Its Texas Ratio is 3.85% in its Q2 2026 call report, within the healthy range (at or below 50%, the level at which problem assets reach half of the capital cushion). The Texas Ratio measures non-performing assets against the bank's capital and reserves.
What was Southern Bank previously called?
The charter now named Southern Bank has also operated as Bank of Burke County (1987-2001), per FDIC structure-change records.
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