KBRA Releases Surveillance Report for Southern BancShares (N.C.), Inc.

On June 3, 2024, KBRA affirmed the senior unsecured debt rating of BBB, the subordinated debt rating of BBB-, and the short-term debt rating of K3 for Mount Olive, NC-based Southern BancShares ( N.C.), Inc. (OTC: SBNC). In addition, KBRA affirmed the deposit and senior unsecured debt ratings of BBB+, the subordinated debt rating of BBB, and the short-term deposit and debt ratings of K2 for Southern Bank and Trust Company, the main subsidiary. The Outlook for all long-term ratings is Stable.

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