On January 1, 1983, Southern Bancshares (N.C.), Inc. was formed as a One Bank Holding Company and became the holding company of all the shares of stock of Southern Bank and Trust Company. At that time, Southern Banschares (N.C.), Inc. was owned by approximately 450 shareholders with 133,340 shares of common stock outstanding. The Bank and the Holding company are supervised by the same officers and Board of Directors. The Home Office of the Bank is located at 116 East Main Street, Mount Olive, North Carolina.

Even after de-registration, the Bank continues to be examined by the Federal Deposit Insurance Corporation, the Commissioner of Banks of the State of North Carolina, and the Federal Reserve Bank of Richmond. Southern continues to have annual financial statements audited by an outside public accounting firm.