--- title: "The Southern Banc Company, Inc. Announces Second Quarter Earnings | SRNN Stock News" type: "News" locale: "en" url: "https://longbridge.com/en/news/275629211.md" description: "The Southern Banc Company, Inc. reported a net income of approximately $371,000 for Q2 2025, slightly up from $369,000 in Q2 2024. For the six months ending December 31, 2025, net income was about $559,000, compared to $545,000 in the same period last year. The company saw a 6.74% increase in net interest income before provision for loan losses, totaling approximately $2.4 million. However, total non-interest income decreased by 9.24%, while non-interest expenses rose by 10.73%. Total assets reached approximately $128.8 million as of December 31, 2025." datetime: "2026-02-11T07:25:00.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/275629211.md) - [en](https://longbridge.com/en/news/275629211.md) - [zh-HK](https://longbridge.com/zh-HK/news/275629211.md) --- > Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/275629211.md) | [繁體中文](https://longbridge.com/zh-HK/news/275629211.md) # The Southern Banc Company, Inc. Announces Second Quarter Earnings | SRNN Stock News GADSDEN, Ala., Feb. 11, 2026 (GLOBE NEWSWIRE) -- The Southern Banc Company, Inc. (OTCBB: SRNN), the holding company for The Southern Bank Company, formerly First Federal Savings and Loan Association of Gadsden, Alabama, announced net income of approximately $371,000, or $0.49 per basic and diluted share, for the three months ended December 31, 2025, as compared to net income of approximately $369,000, or $0.49 per basic share and $0.48 per diluted share, for the three months ended December 31, 2024. For the six months ending December 31, 2025, the Company recorded net income of approximately $559,000, or $0.73 per basic and diluted share, as compared to net income of approximately $545,000, or $0.72 per basic share and $0.71 per diluted share, for the six months ending December 31, 2024. The Company’s fiscal year ends June 30, 2026. Gates Little, President and Chief Executive Officer of the Company, stated that the Company’s net interest income before provision for loan losses totaled approximately $2.4 million during the three months ended December 31, 2025, as compared to approximately $2.2 million in the same period in 2024, an increase of approximately $150,000, or 6.74%. The increase in the net interest income before provision for loan losses for the three months ended December 31, 2025, was primarily attributable to an increase in total interest income of approximately $177,000, offset by an increase in total interest expense of approximately $27,000. In the three months ending December 31, 2025, the Bank recorded a provision for loan losses of approximately $8,000 compared to the $69,000 provision for loan losses during the three months ending December 31, 2024. For the three months ending December 31, 2025, total non-interest income decreased approximately $14,000, or (9.24%), while total non-interest expense increased approximately $193,000, or 10.73%, as compared to the same three-month period in 2024. The decrease in non-interest income was primarily attributable to a decrease in miscellaneous income of approximately $10,000. The increase in non-interest expense was primarily attributable to increases in salaries and benefits of approximately $124,000, office building expense of approximately $5,000, other operating expenses of approximately $43,000, professional service expenses of approximately $9,000, and an increase in data processing expense of approximately $12,000. For the six months ended December 31, 2025, the Company’s net interest income before provision for loan losses totaled approximately $4.6 million, an increase of approximately $254,000, or 5.82%, when compared to the six months ended December 31, 2024. The increase in net interest income before provision for loan losses was primarily attributable to an increase in total interest income of approximately $323,000, or 5.67%, offset by an increase in total interest expense of approximately $69,000, or 5.18%. For the six months ending December 31, 2025, the Bank recorded provisions for loan losses of approximately $84,000 as compared to $442,000 for the same period in 2024. For the six months ended December 31, 2025, total non-interest income decreased approximately $16,000, or 5.10%, compared to the same period in 2024, while non-interest expense increased approximately $577,000, or 16.55%. The decrease in non-interest income was primarily attributable to a decrease in customer service fees of approximately $10,000 and a decrease in miscellaneous income of approximately $6,000. The increase in non-interest expense was primarily attributable to increases in salaries and benefits of approximately $436,000, office and equipment of approximately $9,000, professional service expenses of approximately $19,000, data processing expense of approximately $26,000, and other operating expenses of approximately $87,000. The Company’s total assets at December 31, 2025, were approximately $128.8 million, as compared to approximately $124.0 million at June 30, 2025. Total stockholders’ equity was approximately $17.8 million at December 31, 2025, or 13.79% of total assets, as compared to approximately $16.7 million at June 30, 2025, or 13.48% of total assets. The Bank has four full-service banking offices located in Gadsden, Albertville, Guntersville, and Centre, AL, and one loan production office in Birmingham, AL. The stock of The Southern Banc Company, Inc. trades in the over-the-counter market under the symbol “SRNN”. Certain statements in this release contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, which statements can generally be identified by the use of forward-looking terminology, such as “may,” “will,” “expect,” “estimate,” “anticipate,” “believe,” “target,” “plan,” “project,” “continue,” or the negatives thereof, or other variations thereon or similar terminology, and are made on the basis of management’s plans and current analyses of the Company, its business and the industry as a whole. These forward-looking statements are subject to risks and uncertainties, including, but not limited to, economic conditions, competition, interest rate sensitivity and exposure to regulatory and legislative changes. The above factors, in some cases, have affected, and in the future could affect the Company’s financial performance and could cause actual results to differ materially from those expressed or implied in such forward-looking statements, even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized. (Selected financial data attached) THE SOUTHERN BANC COMPANY, INC. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Dollar Amounts in Thousands) December 31, June 30, 2025 2025 Unaudited Audited ASSETS CASH AND CASH EQUIVALENTS $ 27,001 $ 25,208 SECURITIES AVAILABLE FOR SALE, at fair value 40,924 39,327 FEDERAL HOME LOAN BANK STOCK 125 125 LOANS RECEIVABLE, net of allowance for loan losses of $1,109 and $1,839, respectively 57,369 55,794 PREMISES AND EQUIPMENT, net 955 1,007 ACCRUED INTEREST AND DIVIDENDS RECEIVABLE 980 869 PREPAID EXPENSES AND OTHER ASSETS 1,423 1,706 TOTAL ASSETS $ 128,777 $ 124,036 LIABILITIES DEPOSITS $ 102,864 $ 101,307 OTHER LIABILITIES 8,155 6,011 TOTAL LIABILITIES 111,019 107,318 STOCKHOLDERS' EQUITY: Preferred stock, par value $.01 per share 500,000 shares authorized; no shares issued and outstanding \- \- Common stock, par value $.01 per share, 3,500,000 authorized, 1,454,750 shares issued 15 15 Additional paid-in capital 13,950 13,948 Shares held in trust, 45,911 and 44,081 shares at cost, respectively (787 ) (762 ) Retained earnings 15,359 14,799 Treasury stock, at cost, 648,664 shares (8,825 ) (8,825 ) Accumulated other comprehensive (loss) income (1,954 ) (2,457 ) TOTAL STOCKHOLDERS’ EQUITY 17,758 16,718 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 128,777 $ 124,036 THE SOUTHERN BANC COMPANY, INC. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Dollar Amounts in Thousands, except per share data) Three Months Ended Six Months Ended December 31, December 31, 2025 (Unaudited) 2024 2025 (Unaudited) 2024 INTEREST INCOME: Interest and fees on loans $ 2,557 $ 2,598 $ 4,989 $ 5,072 Interest and dividends on securities 265 179 503 345 Other interest income 258 126 529 281 Total interest income 3,080 2,903 6,021 5,698 INTEREST EXPENSE: Interest on deposits 717 690 1,404 1,335 Interest on borrowings 0 0 0 0 Total interest expense 717 690 1,404 1,335 Net interest income before provision for loan losses 2,362 2,213 4,617 4,363 Provision for loan losses 8 69 84 442 Net interest income after provision for loan losses 2,354 2,144 4,533 3,921 NON-INTEREST INCOME: Fees and other non-interest income 27 31 56 66 Miscellaneous income 114 124 231 237 Total non-interest income 141 155 287 303 NON-INTEREST EXPENSE: Salaries and employee benefits 1,262 1,138 2,599 2,163 Office building and equipment expenses 95 90 193 184 Professional Services Expense 179 170 390 371 Data Processing Expense 200 188 396 370 Other operating expense 257 214 486 399 Total non-interest expense 1,993 1,800 4,064 3,487 Income before income taxes 502 499 756 737 PROVISION FOR INCOME TAXES 131 130 197 192 Net Income $ 371 $ 369 $ 559 $ 545 EARNINGS PER SHARE: Basic $ 0.49 $ 0.49 $ 0.73 $ 0.72 Diluted $ 0.49 $ 0.48 $ 0.73 $ 0.71 DIVIDENDS DECLARED PER SHARE $ \--- $ \--- $ \--- $ \--- AVERAGE SHARES OUTSTANDING: Basic 760,613 759,632 761,309 759,632 Diluted 762,808 766,615 764,046 765,926 Contact: Gates Little (256) 543-3860 ### Related Stocks - [Southern Missouri Bancorp, Inc. 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