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U.S. President Biden Announces Members of Community Development Advisory Board

WASHINGTON - Today, President Joe Biden announced his intent to appoint the following individuals to serve on the Community Development Advisory. ....

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Darrin Williams Named to St. Louis Fed's Board

Darrin Williams, CEO of Southern Bancorp Inc.
(Karen E. Segrave)
Darrin Williams, CEO of Southern Bancorp Inc. in Little Rock, has been appointed to the board of directors of the Little Rock Branch of the Federal Reserve Bank of St. Louis.
He will fill the unexpired portion of a three-year term that ends Dec. 31, 2023, and replace Karama Neal, administrator at the U.S. Department of Agriculture s Rural Business Cooperative Service. Neal previously served as president of Southern Bancorp Community Partners.
Williams stepped in to lead the holding company of the $1.9-billion asset lender Southern Bancorp Bank of Arkadelphia in 2013, after coming to prominence as a successful Little Rock lawyer and state legislator. ....

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Southern Bancorp, Inc. closes on Arkansas County Bank acquisition

ARKADELPHIA, ARK – Southern Bancorp, Inc., a Community Development Financial Institution (CDFI) and holding company for Southern Bancorp Bank, today announced that it has closed on its acquisition of DeWitt First Bankshares Corporation and its wholly owned subsidiary, Arkansas County Bank. The acquisition, which was announced in January 2021, closed on May 14
th, adding three new bank branches to the Southern Bancorp network, two in Arkansas County (DeWitt and Stuttgart) and one in Sevier County (Lockesburg), bringing the total number of locations in Arkansas and Mississippi to 52.
“We are grateful for the opportunity to join the DeWitt, Stuttgart, and Lockesburg communities and introduce our new team members and customers to Southern Bancorp’s mission-driven style of banking,” said Southern Bancorp Inc. CEO Darrin Williams. “Our blend of traditional banking products and financial development services such as credit and housing counseling and financial education ....

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SOAR Fund offers low-interest loans, free business support

May 10, 2021
Small businesses and nonprofits across Delaware can now get low-interest loans of up to $100,000 and free business support from the Southern Opportunity and Resilience Fund as they work to recover from the pandemic.
Companies and agencies across Delaware can begin applying for very low-interest loans of up to $100,000 and free business support through the SOAR Fund, a new program created by a diverse group of community lenders aimed at helping small businesses and nonprofits navigate and rebuild from the COVID-19 health and economic crisis.
According to the U.S. Census Bureau Small Business Pulse Survey, 47 percent of Delaware small businesses have less than two months’ cash on hand, and one-third of small businesses in the state expect to seek capital in the next six months. ....

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