Southern Bancorp Bank has officially begun its shift to Uplift Bank, marking a new chapter for one of the nation’s oldest and largest Community Development Financial Institutions (CDFIs).
The first phase of its name change was completed on Monday, Oct. 26, and additional phases will be completed in a staggered approach that will carry into 2027.
The change also brings new names for Uplift Bank’s holding company and nonprofit loan fund partner:
- Southern Bancorp, Inc., a CDFI bank holding company, is now Uplift Financial Development Corporation.
- Southern Bancorp Community Partners, a CDFI nonprofit loan fund, is now Uplift Capital Partners.
Founded in Arkansas in 1986 with an initial investment of $10 million, the organization was founded under the name Southern Development Bancorporation to deliver capital and financial services to communities often overlooked by traditional financial institutions…