SOUTHERN BANCORP BANK
PPP Lender · 2,969 loans · $174.6M total · 16 states served
SOUTHERN BANCORP BANK was one of the thousands of SBA-approved lenders that participated in the Paycheck Protection Program. During the program period (April 2020 – May 2021), the lender originated 2,969 PPP loans totaling $174.6M, representing approximately 0.03% of all loans nationwide.
SOUTHERN BANCORP BANK served borrowers across 16 states. The largest concentration of activity was in Arkansas, where the lender originated 2,379 loans totaling $149.6M. Other states with significant activity included Mississippi, Tennessee, Texas.
The average loan size for this lender was $58,804. This figure reflects the mix of borrower types — large companies, small businesses, sole proprietors, and non-profits — that applied through this institution. Lenders were responsible for collecting and verifying borrower certifications and submitting loan applications to the SBA's E-Tran system.
Among the largest named borrowers that received loans through SOUTHERN BANCORP BANK were: HENDRIX COLLEGE (AR) — $4,986,100; ORTHOARKANSAS, PA (AR) — $4,250,300; OUACHITA BAPTIST UNIVERSITY (AR) — $4,049,700; and HEIFER PROJECT INTERNATIONAL (AR) — $4,049,200.
PPP lenders were compensated through processing fees paid by the SBA rather than by borrowers. Fees ranged from 1% to 5% of the loan amount depending on loan size. Lenders were not required to take credit risk — the SBA provided a 100% guaranty on each loan. This structure incentivized broad participation but also contributed to documented cases of lender fraud and over-processing of applications.
Borrower names for loans under $150,000 are withheld under FOIA Exemption 6. As a result, the named recipients shown below represent only a fraction of this lender's total portfolio. The full loan count and amount figures include all loans in the SBA's data regardless of disclosure status.
Activity by State
| State | Loans | Total Approved | Forgiveness Rate |
|---|---|---|---|
| Arkansas | 2,379 | $149.6M | 99.7% |
| Mississippi | 497 | $13.1M | 96.2% |
| Tennessee | 38 | $3.0M | 100.0% |
| Texas | 23 | $7.1M | 100.0% |
| Louisiana | 7 | $155,800 | 100.0% |
| Missouri | 5 | $296,400 | 100.0% |
| Virginia | 4 | $144,300 | 100.0% |
| Georgia | 3 | $39,800 | 100.0% |
| California | 3 | $47,708 | 100.0% |
| Illinois | 2 | $151,500 | 100.0% |
| Florida | 2 | $205,700 | 100.0% |
| Alaska | 2 | $93,800 | 100.0% |
| Oklahoma | 1 | $53,505 | 100.0% |
| New York | 1 | $420,100 | 100.0% |
| District of Columbia | 1 | $60,200 | 100.0% |
| Alabama | 1 | $8,300 | 100.0% |