Southern Bancorp receives $9.8 million in CDFI grant funds

by Talk Business & Politics staff (staff2@talkbusiness.net)

The U.S. Treasury Department’s Community Development Financial Institutions (CDFI) Fund has awarded more than $1.73 billion in grants to 603 CDFIs through the CDFI Equitable Recovery Program. Southern Bancorp, Inc., a bank holding company, and Southern Bancorp Community Partners, a nonprofit loan fund that works alongside Southern Bancorp, Inc., announced Wednesday (April 12) that each has been awarded $4.9 million, which will be put to work in its Arkansas and Mississippi markets.

“We are grateful to the U.S. Treasury for appropriating this pandemic recovery funding and distributing it to CDFIs like Southern Bancorp, Inc. and Southern Bancorp Community Partners, who can put it to work supporting the people and places who are hurting most in this economic climate,” said Darrin Williams, CEO of Southern Bancorp, Inc.

“Southern Bancorp has a proven track record of putting such resources to work in communities that need it, and this funding will allow us to increase access to financial opportunities in and around our markets, while supporting small businesses and working families,” he added.

https://talkbusiness.net/2023/04/southern-bancorp-receives-9-8-million-in-cdfi-grant-funds/

Anthony Young hired as president of Southern Bancorp Community Partners

by Talk Business & Politics staff (staff2@talkbusiness.net)

Southern Bancorp Community Partners has hired Anthony Young as its next president. Young succeeds Dr. Karama Neal, who in Spring of 2021 was appointed Administrator for Rural Business-Cooperative Services at the U.S. Department of Agriculture by the Biden-Harris administration.

“To lead our dynamic, growing CDFI loan fund, we sought out a dynamic leader,” said Donna Gambrell, SBCP Board Chair and Former CDFI Fund Director. “I’m excited to say that we found that in Anthony Young. His experience and energetic approach to increasing access to capital will be an outstanding foundation for leading our organization into a greater era of growth and impact.”

A Louisville, Mississippi native, Young most recently served as the director of Capital Programs for Epicenter, a nonprofit organization focused on growing and supporting the entrepreneurial ecosystem in the Memphis area. In that role, he connected entrepreneurs to a variety of capital types and helped ensure equitable access to capital across the community. Prior to that role, he served as the Economic Development Director at River City Capital, a CDFI loan fund focused on providing access to capital in underserved communities in and around Memphis.

https://talkbusiness.net/2021/12/anthony-young-hired-as-president-of-southern-bancorp-community-partners/