One Bank Stock I Hesitate to Recommend
Disclosure: As of this posting, I own shares of SRNN and may subsequently either dispose of them or purchase more.
Southern Banc's deposits could really help one of these three nearby community banks compete with Big Banks in the area:
Exchange Bank of Alabama, Altoona, AL (private)
First Bancshares of Stevenson, Stevenson, AL (private)
Peoples Bank of Alabama, Cullman, AL (private)
†as of 03/31/2016
Gates B. Little, Chairman, President, and CEO
Jim Little III, Director
Thomas F. Dowling III, Director
Since going public in 1995, SRNN has suffered a 3% decline in assets and incurred roughly $1.8M in losses. I've heard of a lost decade, but these scoundrels are working on their third!
Considering Southern Banc Co in the context of its peers may help to illustrate the extent of its fall into disrepair.
As a shareholder, I would like to see Southern Banc Co sold. Given that its been in the Little family since it was founded in 1936 and is run by brothers who are still a long way from retirement age, I doubt it will be.