Southern Bancorp opens bank here
CANTON — Southern Bancorp held a grand opening here for its first Madison County location last week and plans to open another branch in Gluckstadt next year.
Southern Bancorp celebrated the grand opening on April 26 where Canton Mayor William Truly, bank leaders, and other community leaders were on hand.
The event featured a free lunch, more than $1,000 in door prizes, and remarks from bank and community leaders.
Mayor Truly welcomed Southern Bancorp to Canton and said they are bringing hope to the community.
“Sometimes there are banks that say no, but I believe Southern Bancorp said, ‘we can work it out,’” Truly said. I believe this bank has an interest in all of us families who for years have been unheard and unseen. We need this kind of financial institution in our community for economic development so that we can move forward. Southern Bancorp will give us the best there is.”
Southern CEO Darrin Williams said the company is excited to have officially opened and to be offering a unique style of banking in the Canton community.
“We have a long history of creating economic opportunities in our communities, no matter one’s starting point, financial history, or zip code,” Williams said. “From day one, our purpose has been centered around the belief that financial opportunity should be within reach of everyone, and we’re proud to now offer this mission to the people, families, and businesses of Canton.”
Southern Bancorp is one of America’s oldest and largest community development banks and blends traditional banking products with a slate of financial development services beyond the typical banking mold, operating mainly in areas that are under-resourced and under-banked, officials said.
The bank’s model, from free tax preparation to credit building and flexible lending to homebuyer counseling, ensures that everyone in the community has access to the tools and resources needed to build wealth, they said.
John Olaimey, president and CEO of Southern Bancorp, said the addition of the Canton branch represents the company’s commitment to Mississippi.
“From our traditional banking services to the financial development tools we offer, we are here to provide new avenues to economic opportunity and financial freedom, abilities to which we believe everyone should have access,” Olaimey said.
Southern Bancorp’s footprint now includes 56 locations across Arkansas and Mississippi. The Gluckstadt location is slated to open by the Spring of 2024.
The Southern branch in Canton is located at 648 East Peace Street. For more information, visit www.banksouthern.com.