The Southern Banc Company, Inc. Announces Second Quarter Earnings
GADSDEN, Ala., Feb. 07, 2023 (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 $612,000, or $0.81 per basic share and $0.80 per diluted share, for the quarter ended December 31, 2022, as compared to net income of approximately $451,000, or $0.60 per basic and diluted share, for the quarter ended December 31, 2021. For the six months ended December 31, 2022, the Company recorded net income of approximately $1,231,000, or $1.63 per basic share and $1.61 per diluted share, as compared to net income of approximately $694,000, or $0.92 per basic and diluted share, for the six months ended December 31, 2021.