| Description | SouthPoint Bancshares, Inc. (the Company), an Alabama corporation, operates primarily
in the domestic commercial banking industry. The Companys subsidiary, SouthPoint
Bank (the Bank), was formed and incorporated in 2005 as a state-chartered bank under
the Code of Alabama 1975, as amended. In January 2022, the Company also acquired
Merchants Bank of Alabama, founded in 1907 and based in Cullman, Alabama, now
a division of SouthPoint Bank. The Bank and its division provide full-service banking
to customers primarily located in central and northern Alabama. The Bank is subject
to regulation by the State of Alabama Banking Department and the Federal Deposit
Insurance Corporation (FDIC). The Bank operates from its eleven branch locations in and
around Birmingham, Alabama and Cullman, Alabama, and three loan production offices
located throughout the State of Alabama. SPB Properties, LLC holds certain assets of the
Bank and is a wholly owned subsidiary of the Bank.
Additional info from OTC:
SouthPoint Bancshares, Inc. (the Company), an Alabama corporation, operates primarily
in the domestic commercial banking industry. The Companys subsidiary, SouthPoint
Bank (the Bank), was formed and incorporated in 2005 as a state-chartered bank under
the Code of Alabama 1975, as amended. In January 2022, the Company also acquired
Merchants Bank of Alabama, founded in 1907 and based in Cullman, Alabama, now
a division of SouthPoint Bank. The Bank and its division provide full-service banking
to customers primarily located in central and northern Alabama. The Bank is subject
to regulation by the State of Alabama Banking Department and the Federal Deposit
Insurance Corporation (FDIC). The Bank operates from its eleven branch locations in and
around Birmingham, Alabama and Cullman, Alabama, and three loan production offices
located throughout the State of Alabama. SPB Properties, LLC holds certain assets of the
Bank and is a wholly owned subsidiary of the Bank. |
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