Arkadelphia’s Southern Bancorp Bank will be relocating its west Little Rock operations into leased space formerly occupied by the State Bank Department.
The $1.6 billion-asset lender plans to move a loan production staff of 25 into 16,650 SF in the Sedgwick Centre at 400 Hardin Road by October.
The migration was set in motion after Southern Bancorp sold its 13,656-SF office building at 8924 Kanis Road for $1.5 million in June.
The move is portrayed as temporary, but it’s undecided if the bank will buy, build or choose a different longer term option.
Southern recorded a $7.6 million profit for the first six months of 2020. A year ago, the bank produced net income of $7.2 million as of June 30