Southbanc Shares - SBAN- Profile

The principal activities of the Company is attracting deposits from the general public and originating mortgage loans. These loans are secured by one- to four-family residential properties, or investing in mortgage backed securities. The company is a federal savings bank operating through 10 offices in the counties of Anderson, Oconee, Laurens, Greenwood and greenville. The company also originates loans secured by commercial real estate as well as commercial business and consumer loans. In July 2000, the company acquired Heritage Bancorp, Inc. Interest and fees on loans accounted for 76% of fiscal 2000 revenues; other interest income, 18% and non-interest income, 6%.