Call reports 2024
SOUTHERN BANK COMPANY, THE — 2024
What SOUTHERN BANK COMPANY, THE reported to the FFIEC in 2024, quarter by quarter.
Balance sheet
What the bank holds and owes at quarter end
| Measure | 2024Q1 | 2024Q2 | 2024Q3 | 2024Q4 |
|---|---|---|---|---|
| Total assets | 107,444,000 | 113,728,000 | 114,337,000 | 117,789,000 |
| Total loans | 54,201,000 | 59,759,000 | 60,760,000 | 59,253,000 |
| Allowance for loan losses | 983,000 | 1,160,000 | 1,483,000 | 1,548,000 |
| Securities available for sale | 38,601,000 | 37,903,000 | 38,529,000 | 39,227,000 |
| Securities held to maturity | 0 | 0 | 0 | 0 |
| Trading assets | 0 | 0 | 0 | 0 |
| Total deposits | 87,576,000 | 92,706,000 | 91,553,000 | 95,937,000 |
| Interest-bearing deposits | 76,478,000 | 81,573,000 | 81,336,000 | 85,624,000 |
| Noninterest-bearing deposits | 11,098,000 | 11,133,000 | 10,217,000 | 10,313,000 |
| Equity capital | 13,446,000 | 13,950,000 | 15,175,000 | 14,933,000 |
Income
Cumulative from the start of the year, as filed — Q1 covers January to March, Q2 January to June, Q4 the full year
| Measure | 2024Q1 | 2024Q2 | 2024Q3 | 2024Q4 |
|---|---|---|---|---|
| Interest income | 2,411,000 | 5,209,000 | 8,005,000 | 10,908,000 |
| Interest expense | 540,000 | 1,142,000 | 1,781,000 | 2,470,000 |
| Net interest income | 1,871,000 | 4,067,000 | 6,224,000 | 8,438,000 |
| Noninterest income | 190,000 | 365,000 | 513,000 | 668,000 |
| Noninterest expense | 1,600,000 | 3,266,000 | 4,957,000 | 6,755,000 |
| Provision for loan losses | 0 | 155,000 | 529,000 | 597,000 |
| Pretax income | 461,000 | 1,011,000 | 1,251,000 | 1,754,000 |
| Income tax | 120,000 | 244,000 | 307,000 | 438,000 |
| Net income | 341,000 | 767,000 | 944,000 | 1,316,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2024Q1 | 2024Q2 | 2024Q3 | 2024Q4 |
|---|---|---|---|---|
| Tier 1 capital | 17,302,000 | 17,729,000 | 17,908,000 | 18,248,000 |