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Southern Development Bancorporation
Arkadelphia ARCDFI Awards for Southern Development Bancorporation
FA (2008) - $96,800
Southern Bancorp, Inc (Southern) is a certified CDFI established in 1986 Southern"s community bank subsidiaries and nonprofit affiliates provide a full range of traditional and nontraditional bank services in distressed rural markets in Southern Arkansas and the Mississippi Delta Region Southern will use the 2008 Technical Assistance grant of $96,800 to build internal accounting capacity to keep up with Southern"s growth in asset size
FA (2004) - $1,800,000
Southern Development Bancorporation (SDBC) will use the award as equity which will be used toward tier one capital, which will allow SDBC to aquire additional branches through which it provides housing business and consumer lending. The Funds dollars are expected to be leveraged 14 times for its expanded activities in the Mississippi delta.
CORE (2000) - $1,000,000
The CDFI Fund"s $1,000,000 equity investment will help SDB carry out it business plan that calls for expanding its operations into nine counties in the Mississippi Delta, and offering a wider range of community development products and services to its entire service area.
SECA (1999) - $50,000
AEG will use the technical assistance grant to enhance its operations through technology improvements and staff training on loan structuring portfolio management and financial analysis.
CORE (1999) - $450,185
The CDFI Fund"s $450,185 equity investment will enable SDB"s nonprofit affiliate Arkansas Enterprise Group (AEG) to increase its lending and labor force development activities in the Delta region, the most economically distressed area of the state.
CORE (1998) - $2,500,000
Southern Development Bancorp (SDB) is a community development bank holding company that is carrying out a comprehensive community development strategy. The Awardee, through its affiliates, provides consumer financial services and lending to individuals and businesses in distressed rural communities. Currently, SDB is the largest commercial bank provider of SBA loans in the state. The CDFI Fund equity investment of $2.5 million will assist SDB in extending its community development presence in the Arkansas Delta and its expansion to Mississippi.
CORE (1996) - $2,000,000
CDFI Fund investment, $1 million equity investment in Southern and $1 million grant to its nonprofit affiliate Arkansas Enterprise Group, will help to launch this important expansion. Southern"s Delta presence is expected to include a partnership with a university to advance research into rural economic development issues.
Other Community Development Financial Institutions in Arkansas
alt.Consulting
Pine Bluff
College Station Community Federal Credit Union
College Station
Community Resource Group, Inc.
Fayetteville
First National Bank of Phillips County
West Helena
South Arkansas Community Development
Arkadelphia
Southern Development Bancorporation
Arkadelphia
Southern Financial Partners
Arkadelphia
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