Southern Bank earns high rating

Published 9:01 pm Thursday, May 1, 2014

Southern Bank of Mount Olive, N.C., which operates a bank office in Suffolk, has earned a Superior Rating from BauerFinancial, company officials announced this week.

Southern Bank has earned a Bauer’s recommended rating of five stars or four stars for the past 62 consecutive quarters.

“While banks may look alike on the surface, community banks, like Southern Bank, are community partners,” said Karen L. Dorway, president of the rating firm. “By keeping deposits local and focusing on the success of the communities in which it does business, Southern Bank has thrived where other banks have faltered.”

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Southern Bank operates through more than 60 branch offices located throughout Eastern North Carolina and Virginia.

“Receiving the 5-Star rating from BauerFinancial is a great honor,” said Grey Morgan, chairman of the board and chief executive officer of Southern Bank. “We remain focused on our goal of being the bank of preference in the markets we serve. We strive to responsibly meet the needs of each community.”