Southern Bancorp Awarded Funds For Rural Loans
Southern Bancorp Bank of Little Rock has been awarded $1.3 million to increase its lending in rural communities it serves in Arkansas and Mississippi.
The funding comes from the U.S. Department of Treasury's Community Development Financial Institutions Fund.
Southern Bancorp Inc. CEO Darrin Williams says the bank is one of 11 Community Development Financial Institutions chosen for the award.
The bank's loans in distressed communities have included financing to Knowledge is Power Program Delta Public School in Phillips County and to Hoffinger Industries - which produces above-ground swimming pools and outdoor recreation projects in the county.