The Southern Banc Company, Inc. Announces Preliminary Fourth Quarter Earnings

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GADSDEN, Ala., Sept. 13, 2017 (GLOBE NEWSWIRE) -- Gates Little, President and Chief Executive Officer of The Southern Banc Company, Inc. (OTCBB:SRNN), the holding company for The Southern Bank Company, announced preliminary unaudited results (subject to audit adjustments following the year-end audit) of operations for the fourth quarter and year ended June 30, 2017:

The Company’s total assets at June 30, 2017 and June 30, 2016 were approximately $97.9 million.  Total stockholders’ equity was approximately $11.9 million, or 12.1% of assets and $13.2 million, or 13.5% of assets at June 30, 2017 and 2016, respectively.

The unaudited financial information for the three and twelve months ended June 30, 2017 has been prepared on the same basis as our audited financial information and includes, in the opinion of management, all adjustments necessary to present the data for such periods.  The Company expects to release its final year end results and its related audited financial statements in October 2017, following completion of the year-end audit. Historical results are not necessarily indicative of future results. 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. is listed on the OTC Bulletin Board under the symbol “SRNN”.


Contact: Gates Little(256) 543-3860

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Globe Newswire: 20:38 GMT Wednesday 13th September 2017

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