Southern Bancorp Inc. of Little Rock said Monday that it had raised $17.7 million through a recent capital campaign.
The company said investors include global institutional investors, regional financial institutions, foundations and family offices.
"From global funds looking to support distressed American communities, to regional financial institutions seeking to share in our CRA benefits, to families looking for opportunities to support the communities they hold dear, these investors have all joined in our mission to create economic opportunity where it's needed most in a way that provides both a return of and on capital," CEO Darrin Williams said.
A certified Community Development Financial Institution, Southern Bancorp is one of the largest rural development banks in the nation. It has about $1.1 billion in assets.
"We will use this growth capital to expand our impact into new markets," Williams said. "There is considerable need throughout the American Mid-South for our unique brand of financial development and access. As we continue growing, we look forward to engagement from a growing base of investors interested in pursuing strategies that put capital to work for themselves and disinvested communities."
The bank said first-round investors include:
- Simmons First National Corp of Pine Bluff.
- BancorpSouth Bank of Tupelo, Mississippi.
- Prudential Impact Investments Private Equity LLC.
- Sustainability Finance for Real Economies (SFRE) investment fund.
- Thomas F. "Mack" McLarty, founding Southern Bancorp board member and former chief of staff to President Clinton.
- Franklin McLarty, co-founder and vice chairman of McLarty Capital Partners.
- Wittington Portland Murdoch Limited Partnership.
- All directors and executive officers of Southern Bancorp.