Southern Bank and Trust Company
Mount Olive, North Carolina, Wayne County
$5.3B in total assets, the 287th largest of 4,309 US banks and 6th of 39 headquartered in North Carolina.
- FDIC certificate
- 15359
- Established
- 1901
- Owned by
- Southern Bancshares N C Inc
- Primary regulator
- FDIC
- Website
- www.southernbank.com
At a glance
Compared with 8 banks headquartered in North Carolina with $1 billion to $10 billion in assets, as of June 30, 2026.
| Measure | This bank | Percentile | Peer range, middle 90% | Peer median |
|---|---|---|---|---|
| Total assets | $5.3B | 98% | $1.6B | |
| Loans | $3.6B | 88% | $1.3B | |
| Deposits | $4.8B | 98% | $1.4B | |
| Return on assets | 1.42% | 62% | 1.20% | |
| Net interest margin | 3.70% | 38% | 3.93% | |
| Efficiency ratio | 52.6% | 25% | 67.7% | |
| Equity to assets | 8.18% | 2% | 11.17% | |
| Loans to deposits | 75% | 25% | 95% |
Growth
Total assets grew 5.1% a year over the last 5 years and 8.2% a year over 10 years, without acquisitions.
Acquisitions
| Closed | Acquired bank | Assets at acquisition |
|---|---|---|
| Feb 2016 | Heritage Bank Norfolk, VA | $313M |
| Jul 2013 | The Heritage Bank Lucama, NC | $266M |
| Sep 2011 | Bank of the Commonwealth Norfolk, VA | $985M |
| May 1998 | Enfield Savings Bank, Inc., SSB Enfield, NC | $23M |
| Oct 1993 | First American Federal Savings Bank Greensboro, NC | $338M |
| Jul 1993 | Citizens Savings Bank, Inc. Rocky Mount, NC | $83M |
| Dec 1986 | Tarheel Bank & Trust Co. Gatesville, NC | $56M |
| Oct 1973 | Merchants & Farmers Bank Macclesfield, NC | n/a |
Where they operate
56 branches in 29 counties.
Largest markets by deposits
| County | Deposits | Market share | Rank |
|---|---|---|---|
| Hertford County, NC | $616M | 85.4% | 1 of 2 |
| Nash County, NC | $604M | 17.2% | 3 of 11 |
| Wayne County, NC | $510M | 24.0% | 2 of 10 |
| Pitt County, NC | $409M | 11.6% | 4 of 12 |
| Virginia Beach City County, VA | $298M | 3.2% | 7 of 17 |
| Dare County, NC | $257M | 13.2% | 3 of 9 |
Deposits by branch from the FDIC Summary of Deposits, June 2026. Rank among all banks with branches in that county.
Branch history since 2016
Net loss of 5 branches since 2016 (61 to 56, −8.2%). 10 opened, 3 acquired, 18 closed or sold.
| Period | What happened | Opened or acquired | Closed or sold | Net change | Branches at end |
|---|---|---|---|---|---|
| Start of 2016 | Starting point | 61 | |||
| 2016 | Acquired Heritage BankOpened Goldsboro, closed 3 in 2 states | 4 | 3 | +1 | 62 |
| 2017 | Opened PinetopsClosed Goldsboro and Macclesfield | 1 | 2 | −1 | 61 |
| 2018 | Opened Elizabeth City and Wilmington | 2 | 0 | +2 | 63 |
| 2019 | Opened RaleighClosed Winton | 1 | 1 | 0 | 63 |
| 2020 | Opened Elizabeth CityClosed 4 in North Carolina | 1 | 4 | −3 | 60 |
| 2022 | Closed Lewiston and Sharpsburg | 0 | 2 | −2 | 58 |
| 2023 | Opened Newport NewsClosed Chesapeake and Rocky Mount | 1 | 2 | −1 | 57 |
| 2024 | Opened New Bern and RichmondClosed Virginia Beach | 2 | 1 | +1 | 58 |
| 2025 | Opened KinstonClosed 3 in North Carolina | 1 | 3 | −2 | 56 |
Balance sheet and earnings
Loans by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Commercial real estate | 42% | 42% | |
| 1-4 family residential | 36% | 28% | |
| Business (C&I) | 7% | 9% | |
| Construction and land | 5% | 12% | |
| Multifamily | 3% | 6% | |
| Farmland | 3% | 1% | |
| Agricultural | 1% | 0% | |
| Consumer | 1% | 1% | |
| Other | 1% | 1% |
Deposits by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Other interest-bearing | 54% | 49% | |
| Noninterest-bearing | 31% | 26% | |
| Time deposits | 15% | 24% |
Brokered deposits are 0.0% of deposits (peers 4.3%).
Return on assets
Trailing four quarters, with the peer median.
Credit and capital
| This bank | Peer median | |
|---|---|---|
| Noncurrent loans | 0.12% | 0.29% |
| Net charge-offs, annualized | 0.00% | 0.00% |
| Reserves to loans | 1.05% | 0.84% |
| Leverage ratio | 9.63% | 11.48% |
Noncurrent loans exclude government-guaranteed portions.
Related banks
Similar size in North Carolina
Largest competitors in Hertford County, NC
Figures as of June 30, 2026 from the bank's Call Report, FDIC structure and branch data, and the Federal Reserve. Short link: bankingstats.com/banks/southern-bank-trust-mount-olive-nc