Southern Banc Q4 Net Income Jumps 252% to $493K on Loan Growth
SRNN has more than doubled off its 52-week low of $5.
Summary
Southern Banc reported Q4 net income of $493K, up from $140K a year ago, driven by a 26% jump in net interest income as loan and securities portfolios expanded. Full-year net income rose 55% to $1.415M, with lower loan loss provisions offsetting higher operating costs. Total assets grew 6% to $131.8M, and equity strengthened to 13.97% of assets. The bank's capital position remains solid, and the full annual report is expected in October.
At the time of this announcement, SRNN was trading at $16.16 on OTC in the Finance sector, with a market capitalization of approximately $12.3M. The 52-week trading range was $5.00 to $18.00. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.