The Southern Banc Company, Inc. Announces Third Quarter Earnings

GADSDEN, Ala., May 14, 2024 (GLOBE NEWSWIRE) — The Southern Banc Company, Inc. (OTCBB: SRNN), the holding company for The Southern Bank Company (the “Bank”), announced net income of approximately $340,000, or $0.45 per basic and $0.44 per diluted share, for the quarter ended March 31, 2024, as compared to net income of approximately $462,000, or $0.61 per basic and $0.60 per diluted share, for the quarter ended March 31, 2023. The Company announced that for the nine-month period ended March 31, 2024, the Company recorded net income of approximately $1,177,000, or $1.55 per basic and $1.53 per diluted share, as compared to net income of approximately $1,693,000, or $2.23 per basic and $2.21 per diluted share, for the nine-month period ended March 31, 2023. The Company’s fiscal year ends June 30, 2024.

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