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Southern Bancorp Bank Review

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Southern Bancorp Bank Savings
0.25% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Southern Bancorp Bank was founded in 1884 and has its headquarters in Arkadelphia, Arkansas. It owns $1 billion in assets and deposits totaling $1 billion, ranking it as a medium-size bank. Southern Bancorp Bank lacks premium access to customer service, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. SmartAsset experts rated the bank 3.7 stars out of 5, which means Southern Bancorp Bank is an average bank that leaves room for improvement. Southern Bancorp Bank offers numerous product offerings, which include savings accounts, checking accounts, money market accounts and credit cards. Southern Bancorp Bank has a fair savings rate; other popular banks have higher rates. The bank's standard checking product features a monthly fee of $2.95, which is not too high in comparison to the national average. Finding a checking account with no monthly fee, in addition to a savings account with a high APY at the same bank is the best option for returning the most income on your deposits while having easy access to your money.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more


SmartAsset Average: 3.5

Southern Bancorp Bank features a savings rate of 0.25%, which is fair compared to the national average. Southern Bancorp Bank's CDs feature a rate of 0.90% and 1.91% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at a rate of 0.20%. Given its poor savings rate, you should think about other options to earn more on your deposits.

How Southern Bancorp Bank's Savings Rates Compare

Southern Bancorp Bank Savings 0.25 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

Southern Bancorp Bank has generally high fees compared to the average U.S. bank. At $2.95 per month, Southern Bancorp Bank is not the best option for those who want a basic banking experience. Southern Bancorp Bank doesn't refund out-of-network ATM fees, meaning you'll need to search for a Southern Bancorp Bank ATM or accept the ATM charge.

Monthly Fee $2.95 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

SmartAsset Average: 3.7

Southern Bancorp Bank is a brick-and-mortar bank, with 43 total bank locations in Arkansas and Mississippi. It also offers access to mobile and web apps for a straightforward mobile-banking experience. It does not provide access to all-day customer service with representatives. You can get help during its hours, which are Monday through Friday and 8:30 a.m. to 5:00 p.m. CT. Southern Bancorp Bank gets fair marks from users for its online presence. With 33 customer reviews across iOS and Android platforms, the Southern Bancorp Bank mobile app has an overall rating of 3.5 out of 5 (compared to the national average of 3.8). You can use Southern Bancorp Bank's mobile app to control your finances by monitoring account balances, transferring funds as well as reaching support representatives. Southern Bancorp Bank receives an exceptional consumer satisfaction score due to relatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 3.5/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

Southern Bancorp Bank is currently a medium-size bank with $1 billion in assets and $1 billion in deposits. Its Texas Ratio is 13.03%, signifying that the bank is in fine financial health and unlikely to fail. Additionally, Southern Bancorp Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

High Risk 75% 50% 20% 10% Low Risk

The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.

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Compare Southern Bancorp Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.25% APY $1
Checking Account 0.2% APY $600
Certificates of Deposit
  • 12 Month: 0.90% APY
  • 24 Month: 1.41% APY
  • 36 Month: 1.51% APY
  • 48 Month: 1.61% APY
  • 60 Month: 1.91% APY
$500 for all terms
Money Market Account 0.2% APY $25000

Southern Bancorp Bank has several deposit products including savings accounts, checking accounts and money market accounts that provide you with many options to manage your money. Southern Bancorp Bank does not have the best savings rate, which means you should think about taking a look elsewhere for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. Southern Bancorp Bank's CD rates are fair in comparison to the national average.

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Find a Southern Bancorp Bank Near Me

Southern Bancorp Bank has 43 physical locations across the U.S.

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