This past Friday there were a number of companies that had been in the news cycle, and some of them, like Southern Banc Company Inc. (OTC: SRNN), could be in focus this morning. The parent company of The Southern Bank Company was in focus after it made an announcement about its financial results for the second fiscal quarter.
The Performance
The company announced that in the fiscal second quarter, which ended on December 31, 2024, it had managed to bring in net income to the tune of $369,000, which worked out to earnings per basic share of $0.49 and $0.48 per diluted share. However, in the prior year period, the net income was $471,000, and earnings per basic share had been $0.62, while earnings per diluted share were $0.61. In the news release, Southern Banc Company also noted that its fiscal year ended on June 30, 2025.
Further Information
The company also revealed that the net interest income earned prior to provisions for loan assets amounted to around $2.213 million in the quarter. In the corresponding period in 2023, the amount was $2.013 million under the same overhead. It may be a good time for investors to consider adding the Southern Banc Company stock to their watch lists.
