The Southern Banc Company, Inc. Reports Fourth Quarter 2025 Earnings
The Southern Banc Company Financial Overview
Gates Little, President and Chief Executive Officer of The Southern Banc Company, Inc. (OTCBB: SRNN), shared exciting preliminary results for the recent fiscal year-end quarter, highlighting financial performance for the period ending June 30, 2025.
Fourth Quarter Earnings Details
For the quarter, the Company reported a net income of approximately $140,000, translating to $0.18 per share, which stands in contrast to the same quarter last year where the net income was about $424,000, or $0.56 per share. This shows a noticeable drop, prompting inquiries into the underlying factors.
Annual Income Insights
Looking at the fiscal year, net income totaled around $915,000, equating to $1.20 per share, down from approximately $1,602,000 the previous year, which represented $2.11 per share. The fluctuations in earnings are certainly worth discussing for shareholders and analysts alike.
Net Interest Income Analysis
This quarter saw an increase in net interest income by roughly $78,000 or 12.90% compared to the same period last year. Contributing factors included a rise in interest and fees on loans, and a substantial increase in interest on securities. The impressive addition to net interest demonstrates a proactive approach to managing financial assets.
Non-Interest Income and Expenses
However, the company faced challenges with non-interest income, which saw a decrease of about $22,000 or 12.44% compared to the previous year. This was primarily attributed to reductions in various income streams, including customer service fees.
Elevated Expenses
In terms of expenses, total non-interest expenses rose by around $354,000, or 21.24%. The increase was largely driven by elevated salaries and benefits. This situation raises questions regarding the Company’s cost management strategies going forward.
Assets and Liabilities Overview
As of June 30, 2025, The Southern Banc Company reported total assets of approximately $124.1 million, increasing from $113.1 million in the previous year. This suggests an upswing in the company’s asset management efforts.
Stockholders' Equity
The stockholders’ equity stood at approximately $16.7 million, representing 13.47% of total assets, which reflects a strong equity position despite the recent fluctuations in earnings.
Future Expectations
Management believes that the preliminary financial information for the recent fiscal period presents a comprehensive view, with all necessary adjustments included for accuracy. They plan to unveil final results and audited financial statements in the near future. This forthcoming report will be critical for stakeholders as it aligns future expectations with operational realities.
Contact Information
For further inquiries, individuals can reach Gates Little at (256) 543-3860, a beneficial contact for stakeholders seeking detailed information or clarifications about the financial results.
Frequently Asked Questions
What were the preliminary fourth quarter earnings for The Southern Banc Company?
The Company posted a net income of approximately $140,000 or $0.18 per share for the fourth quarter.
How did the annual net income change compared to the previous year?
The annual net income decreased to around $915,000, down from approximately $1,602,000 the previous fiscal year.
What drove the increase in net interest income?
The increase was mainly due to higher interest and fees on loans and a significant rise in interest on securities.
What challenges did The Southern Banc Company face in non-interest income?
There was a decrease of about $22,000 in non-interest income compared to the same period last year, primarily due to reduced customer service fees.
When can investors expect to see finalized financial statements?
The final audited financial statements are expected to be released following their year-end audit, estimated to happen soon.
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