GADSDEN, Ala., Feb. 11, 2026 (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 $371,000, or $0.49 per basic and diluted share, for the three months ended December 31, 2025, as compared to net income of approximately $369,...
GADSDEN, Ala., Feb. 11, 2026 (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 $371,000, or $0.49 per basic and diluted share, for the three months ended December 31, 2025, as compared to net income of approximately $369,000, or $0.49 per basic share and $0.48 per diluted share, for the three months ended December 31, 2024. For the six months ending December 31, 2025, the Company recorded net income of approximately $559,000, or $0.73 per basic and diluted share, as compared to net income of approximately $545,000, or $0.72 per basic share and $0.71 per diluted share, for the six months ending December 31, 2024. The Company’s fiscal year ends June 30, 2026. Gates Little, President and Chief Executive Officer of the Company, stated that the Company’s net interest income before provision for loan losses totaled approximately $2.4 million during the three months ended December 31, 2025, as compared to approximately $2.2 million in the same period in 2024, an increase of approximately $150,000, or 6.74%. The increase in the net interest income before provision for loan losses for the three months ended December 31, 2025, was primarily attributable to an increase in total interest income of approximately $177,000, offset by an increase in total interest expense of approximately $27,000. In the three months ending December 31, 2025, the Bank recorded a provision for loan losses of approximately $8,000 compared to the $69,000 provision for loan losses during the three months ending December 31, 2024. For the three months ending December 31, 2025, total non-interest income decreased approximately $14,000, or (9.24%), while total non-interest expense increased approximately $193,000, or 10.73%, as compared to the same three-month period in 2024. The decrease in non-interest income was primarily attr...